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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
VFC icon
376
VF Corp
VFC
$5.8B
$2.37M 0.09%
201,401
+62,318
+45% +$772K
LNW
377
DELISTED
Light & Wonder
LNW
$2.36M 0.09%
24,568
+20,603
+520% +$1.76M
BRZE icon
378
Braze
BRZE
$2.9B
$2.36M 0.09%
84,070
+70,660
+527% +$2.23M
HAYW icon
379
Hayward Holdings
HAYW
$3.32B
$2.36M 0.09%
+171,127
New +$2.31M
FR icon
380
First Industrial Realty Trust
FR
$8.4B
$2.36M 0.09%
49,013
-82,329
-63% -$4.01M
EVER icon
381
EverQuote
EVER
$839M
$2.36M 0.09%
97,498
+76,843
+372% +$1.82M
XLF icon
382
CALL
State Street Financial Select Sector SPDR ETF
XLF
$58.4B
$2.36M 0.09%
+45,000
New +$2.23M
CFLT
383
DELISTED
Confluent
CFLT
$2.35M 0.09%
94,364
+45,819
+94% +$1.03M
CHCO icon
384
City Holding Co
CHCO
$2.04B
$2.35M 0.09%
19,207
+2,874
+18% +$337K
BHVN icon
385
Biohaven
BHVN
$2.17B
$2.35M 0.09%
166,331
+109,704
+194% +$1.96M
IBP icon
386
Installed Building Products
IBP
$6.52B
$2.35M 0.09%
13,015
+8,973
+222% +$1.49M
HL icon
387
Hecla Mining
HL
$10.7B
$2.34M 0.09%
391,442
-256,306
-40% -$1.41M
XLE icon
388
PUT
State Street Energy Select Sector SPDR ETF
XLE
$38.1B
$2.33M 0.09%
+55,000
New +$2.29M
IBOC icon
389
International Bancshares
IBOC
$4.67B
$2.33M 0.09%
35,019
+9,541
+37% +$595K
HOMB icon
390
Home BancShares
HOMB
$6.18B
$2.33M 0.09%
81,860
-48,326
-37% -$1.34M
PRCT icon
391
Procept Biorobotics
PRCT
$1.15B
$2.31M 0.09%
40,119
+32,785
+447% +$1.85M
AMAT icon
392
Applied Materials
AMAT
$419B
$2.31M 0.09%
12,599
+9,579
+317% +$1.52M
SIG icon
393
Signet Jewelers
SIG
$3.65B
$2.3M 0.09%
28,962
+21,456
+286% +$1.43M
RCUS icon
394
Arcus Biosciences
RCUS
$3.61B
$2.3M 0.09%
282,671
+205,462
+266% +$1.75M
BV icon
395
BrightView Holdings
BV
$1.02B
$2.27M 0.09%
136,555
+95,059
+229% +$1.42M
CVS icon
396
CVS Health
CVS
$123B
$2.27M 0.09%
32,907
+8,525
+35% +$559K
FCF icon
397
First Commonwealth Financial
FCF
$2.17B
$2.27M 0.09%
139,599
-58,701
-30% -$905K
BDN
398
Brandywine Realty Trust
BDN
$554M
$2.25M 0.09%
524,343
+255,014
+95% +$1.06M
MHK icon
399
Mohawk Industries
MHK
$8.97B
$2.24M 0.09%
21,342
+18,528
+658% +$1.93M
CPT icon
400
Camden Property Trust
CPT
$11B
$2.23M 0.09%
19,800
-43,719
-69% -$5.04M
14 15
16
17 18

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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.