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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
LivaNova
LIVN
+$9.42M

Sector Composition

Rank Sector Weight
1 Financials 17.68%
2 Technology 15.03%
3 Industrials 14.39%
4 Consumer Discretionary 11.22%
5 Healthcare 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KNTK icon
326
Kinetik
KNTK
$3.69B
$2.64M 0.11%
+59,843
New +$2.63M
APG icon
327
APi Group
APG
$17.8B
$2.63M 0.1%
77,297
-65,760
-46% -$1.88M
ECPG icon
328
Encore Capital Group
ECPG
$2.1B
$2.62M 0.1%
67,761
+48,389
+250% +$1.75M
SON icon
329
Sonoco
SON
$5.64B
$2.62M 0.1%
+60,092
New +$2.69M
ETNB
330
DELISTED
89bio
ETNB
$2.62M 0.1%
266,395
+205,974
+341% +$1.71M
OXM icon
331
Oxford Industries
OXM
$560M
$2.61M 0.1%
64,926
+5,605
+9% +$282K
AVDL
332
DELISTED
Avadel Pharmaceuticals
AVDL
$2.61M 0.1%
295,136
+115,699
+64% +$1.02M
ATRO icon
333
Astronics
ATRO
$3.75B
$2.61M 0.1%
+93,617
New +$2.19M
CTRE icon
334
CareTrust REIT
CTRE
$9.72B
$2.6M 0.1%
85,029
-19,926
-19% -$575K
ATO icon
335
Atmos Energy
ATO
$28.7B
$2.6M 0.1%
16,873
-13,757
-45% -$2.14M
BANF icon
336
BancFirst
BANF
$3.81B
$2.6M 0.1%
+21,021
New +$2.5M
MSCI icon
337
MSCI
MSCI
$41.2B
$2.59M 0.1%
4,495
+3,857
+605% +$2.13M
CCK icon
338
Crown Holdings
CCK
$13.2B
$2.58M 0.1%
25,059
+22,625
+930% +$2.15M
DCH
339
Dauch Corp
DCH
$1.35B
$2.57M 0.1%
631,047
+604,884
+2,312% +$2.44M
ENPH icon
340
Enphase Energy
ENPH
$5.24B
$2.57M 0.1%
64,824
+28,419
+78% +$1.31M
TMO icon
341
Thermo Fisher Scientific
TMO
$214B
$2.56M 0.1%
+6,318
New +$2.64M
PEN icon
342
Penumbra
PEN
$12.8B
$2.56M 0.1%
+9,972
New +$2.71M
CUBI icon
343
Customers Bancorp
CUBI
$2.77B
$2.56M 0.1%
43,519
-7,544
-15% -$382K
GO icon
344
Grocery Outlet
GO
$959M
$2.56M 0.1%
205,817
+46,310
+29% +$658K
PEGA icon
345
Pegasystems
PEGA
$5.21B
$2.56M 0.1%
+47,219
New +$2.14M
TRV icon
346
Travelers Companies
TRV
$80.5B
$2.55M 0.1%
9,536
-1,381
-13% -$364K
ALLY icon
347
Ally Financial
ALLY
$13.4B
$2.55M 0.1%
+65,368
New +$2.26M
AM icon
348
Antero Midstream
AM
$10.2B
$2.54M 0.1%
+134,230
New +$2.4M
BRBR icon
349
BellRing Brands
BRBR
$1.41B
$2.54M 0.1%
+43,825
New +$2.92M
SITE icon
350
SiteOne Landscape Supply
SITE
$4.3B
$2.53M 0.1%
+20,959
New +$2.48M
12 13
14
15 16

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Dark Forest Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.

Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.

  • Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
  • Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
  • Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
  • Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
  • Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
  • Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
  • Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.