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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
+6.88%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.66B
AUM Growth
+$149M
Cap. Flow
+$50.1M
Cap. Flow %
1.89%
Top 10 Hldgs %
6.39%
Holding
1,542
New
400
Increased
350
Reduced
355
Closed
431

Top Buys

Rank Stock Value
1
L icon
Loews
L
+$17.8M
2
INDA icon
iShares MSCI India ETF
INDA
+$17.3M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$16.4M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$16.2M
5
WMT icon
Walmart Inc
WMT
+$10M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$14.9M
2
NVDA icon
NVIDIA
NVDA
+$12.5M
3
BAC icon
Bank of America
BAC
+$12.5M
4
PANW icon
Palo Alto Networks
PANW
+$11.6M
5
AAPL icon
Apple
AAPL
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 18.09%
2 Industrials 14.85%
3 Technology 14.22%
4 Consumer Discretionary 11.61%
5 Healthcare 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMH icon
376
American Homes 4 Rent
AMH
$12.5B
$2.5M 0.09%
75,337
-17,334
-19% -$604K
PCT icon
377
PureCycle Technologies
PCT
$1.45B
$2.5M 0.09%
190,315
+163,337
+605% +$2.27M
NEM icon
378
Newmont
NEM
$119B
$2.5M 0.09%
29,672
+21,263
+253% +$1.48M
SIGI icon
379
Selective Insurance
SIGI
$5.73B
$2.49M 0.09%
30,690
-37,741
-55% -$3.04M
DDOG icon
380
Datadog
DDOG
$84B
$2.49M 0.09%
17,453
-24,721
-59% -$3.4M
EL icon
381
Estee Lauder
EL
$32B
$2.48M 0.09%
28,189
+15,959
+130% +$1.42M
LKFN icon
382
Lakeland Financial Corp
LKFN
$1.53B
$2.48M 0.09%
38,657
+4,975
+15% +$323K
FFBC icon
383
First Financial Bancorp
FFBC
$3.53B
$2.48M 0.09%
98,089
-3,930
-4% -$99.6K
GTM
384
ZoomInfo Technologies
GTM
$1.22B
$2.47M 0.09%
+226,516
New +$2.43M
MCHP icon
385
Microchip Technology
MCHP
$46B
$2.47M 0.09%
38,396
+16,750
+77% +$1.14M
GBX icon
386
The Greenbrier Companies
GBX
$1.46B
$2.46M 0.09%
53,356
+36,507
+217% +$1.74M
VRRM icon
387
Verra Mobility
VRRM
$744M
$2.46M 0.09%
99,618
+91,202
+1,084% +$2.25M
CBRL icon
388
Cracker Barrel
CBRL
$1.29B
$2.46M 0.09%
+55,812
New +$3.23M
TRMK icon
389
Trustmark
TRMK
$2.75B
$2.46M 0.09%
62,062
-4,435
-7% -$173K
BATRK icon
390
Atlanta Braves Holdings Series B
BATRK
$3.21B
$2.45M 0.09%
+58,981
New +$2.6M
NVR icon
391
NVR
NVR
$17B
$2.45M 0.09%
305
+73
+31% +$580K
LNW
392
DELISTED
Light & Wonder
LNW
$2.45M 0.09%
29,135
+4,567
+19% +$419K
ANDE icon
393
Andersons Inc
ANDE
$2.22B
$2.44M 0.09%
61,410
+43,783
+248% +$1.69M
FDX icon
394
FedEx
FDX
$75.4B
$2.44M 0.09%
10,340
-8,782
-46% -$2.02M
MRK icon
395
Merck
MRK
$318B
$2.43M 0.09%
29,010
-17,337
-37% -$1.43M
FLO icon
396
Flowers Foods
FLO
$1.57B
$2.42M 0.09%
+185,418
New +$2.81M
HOLX
397
DELISTED
Hologic
HOLX
$2.41M 0.09%
+35,718
New +$2.37M
ARHS icon
398
Arhaus
ARHS
$1.36B
$2.41M 0.09%
+226,666
New +$2.39M
THC icon
399
Tenet Healthcare
THC
$21.1B
$2.4M 0.09%
+11,799
New +$2.09M
ODFL icon
400
Old Dominion Freight Line
ODFL
$44.9B
$2.38M 0.09%
+16,914
New +$2.59M
14 15
16
17 18

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Dark Forest Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Dark Forest Capital Management held 1,542 positions worth $2.66B, up 6% from $2.51B the previous quarter. Its ten largest holdings account for 6.4% of the portfolio.

Dark Forest Capital Management's Q3 2025 filing shows 400 new, 350 increased, 355 reduced and 431 closed positions. Its largest new stake was iShares MSCI India ETF: 324,340 shares worth $16.9M. The largest sale was Cheniere Energy, an estimated $14.9M.

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

  • Dark Forest Capital Management's largest Q3 2025 buy was iShares MSCI India ETF: 324,340 shares worth $16.9M.
  • Dark Forest Capital Management added most to Loews in Q3 2025, an estimated $17.8M increase.
  • Dark Forest Capital Management's biggest Q3 2025 reduction was Cheniere Energy, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Bank of America in Q3 2025, selling an estimated $12.5M.
  • Dark Forest Capital Management's ten largest holdings make up 6.4% of its $2.66B portfolio in Q3 2025.
  • Dark Forest Capital Management opened 400 new positions and closed 431 in Q3 2025.
  • Dark Forest Capital Management's portfolio value rose 6% quarter-over-quarter to $2.66B.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.