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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XOM icon
401
ExxonMobil
XOM
$634B
$547K 0.08%
5,086
-6,780
-57% -$793K
ENPH icon
402
Enphase Energy
ENPH
$5.53B
$546K 0.08%
7,954
+4,000
+101% +$317K
VGK icon
403
Vanguard FTSE Europe ETF
VGK
$31.4B
$543K 0.08%
8,561
-19,813
-70% -$1.32M
EPAM icon
404
EPAM Systems
EPAM
$5.03B
$540K 0.08%
2,309
-1,606
-41% -$357K
UTHR icon
405
United Therapeutics
UTHR
$23.1B
$540K 0.08%
+1,530
New +$562K
ECVT icon
406
Ecovyst
ECVT
$1.14B
$538K 0.08%
70,465
+48,637
+223% +$359K
HRMY icon
407
Harmony Biosciences
HRMY
$2.24B
$536K 0.08%
+15,575
New +$535K
ACGL icon
408
Arch Capital
ACGL
$33.6B
$533K 0.08%
5,771
+2,992
+108% +$302K
ALRM icon
409
Alarm.com
ALRM
$2.85B
$532K 0.08%
+8,755
New +$522K
PRCT icon
410
Procept Biorobotics
PRCT
$1.17B
$532K 0.08%
+6,610
New +$565K
MAA icon
411
Mid-America Apartment Communities
MAA
$15.7B
$531K 0.08%
3,437
+1,294
+60% +$202K
WLK icon
412
Westlake Corp
WLK
$9.9B
$531K 0.08%
+4,628
New +$602K
ARR
413
Armour Residential REIT
ARR
$2.36B
$530K 0.08%
+28,124
New +$540K
TBBK icon
414
The Bancorp
TBBK
$2.84B
$528K 0.08%
10,034
-2,110
-17% -$115K
DBI icon
415
Designer Brands
DBI
$333M
$528K 0.08%
+98,815
New +$553K
CBU icon
416
Community Bank
CBU
$3.41B
$526K 0.08%
+8,533
New +$546K
GO icon
417
Grocery Outlet
GO
$980M
$525K 0.08%
+33,631
New +$585K
SYBT icon
418
Stock Yards Bancorp
SYBT
$2.6B
$524K 0.08%
+7,313
New +$515K
TCBI icon
419
Texas Capital Bancshares
TCBI
$4.32B
$523K 0.08%
+6,692
New +$542K
RMD icon
420
ResMed
RMD
$30.7B
$523K 0.08%
2,285
+1,257
+122% +$303K
SMTC icon
421
Semtech
SMTC
$13B
$522K 0.08%
8,446
-1,055
-11% -$55.7K
ICE icon
422
Intercontinental Exchange
ICE
$84.4B
$521K 0.08%
3,499
+1,259
+56% +$199K
CWH icon
423
Camping World
CWH
$653M
$520K 0.08%
+24,667
New +$562K
EVR icon
424
Evercore
EVR
$11.8B
$519K 0.08%
+1,873
New +$531K
STX icon
425
Seagate
STX
$184B
$519K 0.08%
6,008
+1,593
+36% +$160K
15 16
17
18 19

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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.