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DFCM

Dark Forest Capital Management Portfolio holdings

AUM $1.13B
1-Year Est. Return 18.74%
This Fund
S&P 500
This Quarter Est. Return
-5.08%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.2B
AUM Growth
+$1.52B
Cap. Flow
+$1.68B
Cap. Flow %
76.49%
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$27.3M
2
CRH icon
CRH
CRH
+$12.6M
3
MSFT icon
Microsoft
MSFT
+$12.2M
4
AMCR icon
Amcor
AMCR
+$12.2M
5
LIVN icon
LivaNova
LIVN
+$11.2M

Top Sells

Rank Stock Value
1
TTD icon
Trade Desk
TTD
+$9.58M
2
APP icon
Applovin
APP
+$6.9M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$5M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$4.89M
5
GWRE icon
Guidewire Software
GWRE
+$4.75M

Sector Composition

Rank Sector Weight
1 Financials 16.4%
2 Industrials 14.7%
3 Technology 12.79%
4 Consumer Discretionary 11.74%
5 Healthcare 9.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBZ icon
326
CBIZ
CBZ
$2.96B
$2.31M 0.11%
+30,513
New +$2.45M
ML
327
DELISTED
MoneyLion Inc.
ML
$2.31M 0.11%
26,708
+24,363
+1,039% +$2.12M
GWW icon
328
W.W. Grainger
GWW
$60.2B
$2.31M 0.1%
2,338
+1,579
+208% +$1.63M
CVCO icon
329
Cavco Industries
CVCO
$4.55B
$2.31M 0.1%
4,439
+2,258
+104% +$1.14M
DECK icon
330
Deckers Outdoor
DECK
$13.3B
$2.3M 0.1%
+20,588
New +$3.33M
HI
331
DELISTED
Hillenbrand
HI
$2.29M 0.1%
94,874
+62,908
+197% +$1.91M
DASH icon
332
DoorDash
DASH
$93.7B
$2.28M 0.1%
12,471
+11,059
+783% +$2.08M
DAL icon
333
Delta Air Lines
DAL
$60.1B
$2.27M 0.1%
52,144
-582
-1% -$34.5K
BFH icon
334
Bread Financial
BFH
$4.38B
$2.27M 0.1%
45,377
+38,990
+610% +$2.21M
ADP icon
335
Automatic Data Processing
ADP
$108B
$2.27M 0.1%
+7,430
New +$2.24M
MNST icon
336
Monster Beverage
MNST
$88.5B
$2.27M 0.1%
+38,729
New +$2.02M
ENPH icon
337
Enphase Energy
ENPH
$5.53B
$2.26M 0.1%
36,405
+28,451
+358% +$1.8M
HUBS icon
338
HubSpot
HUBS
$10.5B
$2.26M 0.1%
+3,952
New +$2.77M
HSY icon
339
Hershey
HSY
$36.6B
$2.26M 0.1%
13,188
+10,598
+409% +$1.74M
WABC icon
340
Westamerica Bancorp
WABC
$1.37B
$2.25M 0.1%
44,432
+22,461
+102% +$1.14M
COMP icon
341
Compass
COMP
$9.66B
$2.24M 0.1%
256,445
+209,974
+452% +$1.66M
CBU icon
342
Community Bank
CBU
$3.41B
$2.23M 0.1%
39,261
+30,728
+360% +$1.9M
GO icon
343
Grocery Outlet
GO
$980M
$2.23M 0.1%
159,507
+125,876
+374% +$1.86M
WSC icon
344
WillScot Mobile Mini Holdings
WSC
$4.41B
$2.22M 0.1%
79,681
+55,854
+234% +$1.9M
MIR icon
345
Mirion Technologies
MIR
$3.91B
$2.2M 0.1%
+151,996
New +$2.39M
VCTR icon
346
Victory Capital Holdings
VCTR
$6.65B
$2.2M 0.1%
38,081
+679
+2% +$43K
IQV icon
347
IQVIA
IQV
$39.3B
$2.2M 0.1%
+12,481
New +$2.42M
URBN icon
348
Urban Outfitters
URBN
$6.59B
$2.2M 0.1%
41,943
+23,065
+122% +$1.26M
TRMK icon
349
Trustmark
TRMK
$2.75B
$2.19M 0.1%
63,530
+53,636
+542% +$1.91M
PUMP icon
350
ProPetro Holding
PUMP
$1.35B
$2.19M 0.1%
297,589
+261,520
+725% +$2.27M
12 13
14
15 16

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Dark Forest Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Dark Forest Capital Management held 1,491 positions worth $2.2B, up 225% from $678M the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.

Dark Forest Capital Management deployed $1.68B of net new capital in Q1 2025, opening 604 new positions and adding to 497 existing holdings. Its largest new stake was Palo Alto Networks: 55,911 shares worth $9.54M.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Applovin, an estimated $6.9M trimmed.

  • Dark Forest Capital Management's largest Q1 2025 buy was Palo Alto Networks: 55,911 shares worth $9.54M.
  • Dark Forest Capital Management added most to Cheniere Energy in Q1 2025, an estimated $27.3M increase.
  • Dark Forest Capital Management's biggest Q1 2025 reduction was Applovin, cutting an estimated $6.9M.
  • Dark Forest Capital Management fully exited Trade Desk in Q1 2025, selling an estimated $9.58M.
  • Dark Forest Capital Management's ten largest holdings make up 7.2% of its $2.2B portfolio in Q1 2025.
  • Dark Forest Capital Management opened 604 new positions and closed 295 in Q1 2025.
  • Dark Forest Capital Management's portfolio value rose 225% quarter-over-quarter to $2.2B.

Based on Dark Forest Capital Management's 13F filing for Q1 2025, filed 15 May 2025.