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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
KTOS icon
376
Kratos Defense & Security Solutions
KTOS
$11.4B
$2.02M 0.09%
68,197
+34,949
+105% +$1.06M
AWR icon
377
American States Water
AWR
$3.46B
$2.02M 0.09%
+25,710
New +$1.94M
JBGS
378
JBG SMITH
JBGS
$708M
$2.02M 0.09%
125,487
+48,487
+63% +$737K
LEG icon
379
Leggett & Platt
LEG
$1.31B
$2.02M 0.09%
255,520
+124,139
+94% +$1.18M
GGG icon
380
Graco
GGG
$13.5B
$2.02M 0.09%
24,198
+12,450
+106% +$1.05M
BROS icon
381
Dutch Bros
BROS
$9.26B
$2.02M 0.09%
32,663
+8,709
+36% +$574K
ZBRA icon
382
Zebra Technologies
ZBRA
$17.8B
$2.01M 0.09%
7,112
+4,462
+168% +$1.52M
MDT icon
383
Medtronic
MDT
$112B
$2M 0.09%
22,246
+5,602
+34% +$501K
FLEX icon
384
Flex
FLEX
$44.8B
$1.99M 0.09%
+60,244
New +$2.36M
ZTS icon
385
Zoetis
ZTS
$30B
$1.99M 0.09%
+12,082
New +$2.01M
MGNI icon
386
Magnite
MGNI
$3.55B
$1.98M 0.09%
+173,864
New +$2.77M
MKTX icon
387
MarketAxess Holdings
MKTX
$5.72B
$1.98M 0.09%
+9,155
New +$1.92M
SCL icon
388
Stepan Co
SCL
$1.48B
$1.98M 0.09%
35,896
+16,800
+88% +$1.03M
LVS icon
389
Las Vegas Sands
LVS
$29.6B
$1.97M 0.09%
+51,019
New +$2.25M
DDOG icon
390
Datadog
DDOG
$84B
$1.97M 0.09%
19,831
+9,270
+88% +$1.17M
EFSC icon
391
Enterprise Financial Services Corp
EFSC
$2.39B
$1.96M 0.09%
+36,488
New +$2.1M
APP icon
392
Applovin
APP
$116B
$1.93M 0.09%
7,274
-20,034
-73% -$6.9M
CHCO icon
393
City Holding Co
CHCO
$2.04B
$1.92M 0.09%
16,333
+9,452
+137% +$1.12M
V icon
394
Visa
V
$677B
$1.92M 0.09%
5,474
-5,721
-51% -$1.94M
MRSH
395
Marsh
MRSH
$91.5B
$1.92M 0.09%
7,854
+5,956
+314% +$1.35M
TMHC
396
DELISTED
Taylor Morrison
TMHC
$1.91M 0.09%
31,814
+22,781
+252% +$1.42M
USPH icon
397
US Physical Therapy
USPH
$1.22B
$1.91M 0.09%
26,386
+23,601
+847% +$1.98M
SPXC icon
398
SPX Corp
SPXC
$10.8B
$1.9M 0.09%
+14,789
New +$2.12M
TNET icon
399
TriNet
TNET
$3.14B
$1.89M 0.09%
23,883
+20,375
+581% +$1.69M
CR icon
400
Crane Co
CR
$12.7B
$1.89M 0.09%
+12,350
New +$1.98M
14 15
16
17 18

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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.