We are live on ! Find out more
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
+2.94%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.19B
AUM Growth
-$467M
Cap. Flow
-$490M
Cap. Flow %
-22.36%
Top 10 Hldgs %
6.98%
Holding
1,430
New
319
Increased
285
Reduced
326
Closed
499

Top Buys

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$24.8M
2
TOST icon
Toast
TOST
+$12.4M
3
VICI icon
VICI Properties
VICI
+$8.48M
4
NEE icon
NextEra Energy
NEE
+$8.18M
5
CVX icon
Chevron
CVX
+$7.94M

Top Sells

Rank Stock Value
1
BAH icon
Booz Allen Hamilton
BAH
+$15M
2
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$14.9M
3
GS icon
Goldman Sachs
GS
+$14.7M
4
L icon
Loews
L
+$13.6M
5
INDA icon
iShares MSCI India ETF
INDA
+$13.5M

Sector Composition

Rank Sector Weight
1 Financials 17.75%
2 Industrials 14.65%
3 Technology 14.45%
4 Consumer Discretionary 10.89%
5 Healthcare 9.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AR icon
401
Antero Resources
AR
$10.7B
$1.94M 0.09%
+56,369
New +$1.91M
NRG icon
402
NRG Energy
NRG
$24.8B
$1.94M 0.09%
12,196
+6,460
+113% +$1.07M
TJX icon
403
TJX Companies
TJX
$178B
$1.94M 0.09%
12,639
+8,403
+198% +$1.24M
MGY icon
404
Magnolia Oil & Gas
MGY
$5.94B
$1.94M 0.09%
88,429
-151,434
-63% -$3.44M
CAKE icon
405
Cheesecake Factory
CAKE
$5.33B
$1.94M 0.09%
+38,333
New +$1.92M
KNSL icon
406
Kinsale Capital Group
KNSL
$8.51B
$1.92M 0.09%
4,908
+2,519
+105% +$1.03M
C icon
407
Citigroup
C
$226B
$1.91M 0.09%
16,408
-33,569
-67% -$3.49M
KURA icon
408
Kura Oncology
KURA
$850M
$1.91M 0.09%
+183,505
New +$1.93M
KDP icon
409
Keurig Dr Pepper
KDP
$40.8B
$1.9M 0.09%
+67,951
New +$1.87M
IBKR icon
410
Interactive Brokers
IBKR
$39.8B
$1.9M 0.09%
29,525
-30,002
-50% -$2.01M
AWR icon
411
American States Water
AWR
$3.46B
$1.89M 0.09%
26,084
-32,112
-55% -$2.36M
TEM
412
Tempus AI
TEM
$9.39B
$1.89M 0.09%
31,964
+28,589
+847% +$2.24M
LTC
413
LTC Properties
LTC
$2.15B
$1.88M 0.09%
+54,821
New +$1.93M
EQH icon
414
Equitable Holdings
EQH
$14.1B
$1.88M 0.09%
+39,446
New +$1.87M
NXRT
415
NexPoint Residential Trust
NXRT
$652M
$1.87M 0.09%
62,126
-222
-0.4% -$6.8K
RVMD icon
416
Revolution Medicines
RVMD
$44B
$1.87M 0.09%
+23,458
New +$1.54M
SARO
417
StandardAero Inc
SARO
$9.7B
$1.87M 0.09%
65,068
+11,731
+22% +$319K
CB icon
418
Chubb
CB
$135B
$1.87M 0.09%
5,977
-21,764
-78% -$6.36M
ALK icon
419
Alaska Air
ALK
$5.58B
$1.86M 0.09%
37,013
+20,149
+119% +$931K
APTV icon
420
Aptiv
APTV
$10.3B
$1.86M 0.08%
+24,453
New +$1.96M
GGG icon
421
Graco
GGG
$13.5B
$1.85M 0.08%
22,620
-51,941
-70% -$4.27M
EVRG icon
422
Evergy
EVRG
$19.2B
$1.85M 0.08%
+25,514
New +$1.94M
WDFC icon
423
WD-40
WDFC
$3.15B
$1.84M 0.08%
9,362
-7,070
-43% -$1.39M
BOOT icon
424
Boot Barn
BOOT
$4.95B
$1.84M 0.08%
10,438
-7,324
-41% -$1.37M
NTRA icon
425
Natera
NTRA
$46.4B
$1.83M 0.08%
+8,001
New +$1.67M
15 16
17
18 19

Similar funds

PL
Parkwood LLC Cleveland, Ohio $1.13B AUM 32.89% 1-Year Est. Return
AT
American Trust Lexington, Kentucky $1.13B AUM 17.56% 1-Year Est. Return
WM
WS Management Jacksonville, Florida $1.13B AUM 53.44% 1-Year Est. Return
OHIF
Oriental Harbor Investment Fund Hong Kong $1.13B AUM 70.63% 1-Year Est. Return
HMCP
Hook Mill Capital Partners New York $1.13B AUM 31.32% 1-Year Est. Return
C
Chescapmanager Baltimore, Maryland $1.12B AUM 67.49% 1-Year Est. Return
ACM
Alua Capital Management New York $1.13B AUM 8.41% 1-Year Est. Return
CNC
Canandaigua National Corp Canandaigua, New York $1.12B AUM

Dark Forest Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Dark Forest Capital Management held 1,430 positions worth $2.19B, down 18% from $2.66B the previous quarter. Its ten largest holdings account for 7% of the portfolio.

Dark Forest Capital Management withdrew a net $490M in Q4 2025, closing 499 positions and reducing 326 holdings. Its most notable exit was Booz Allen Hamilton, an estimated $15M position sold in full.

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

Against the trend, Dark Forest Capital Management opened a new position in VICI Properties worth $8.03M.

  • Dark Forest Capital Management's largest Q4 2025 buy was VICI Properties: 285,590 shares worth $8.03M.
  • Dark Forest Capital Management added most to iShares MSCI Emerging Markets ETF in Q4 2025, an estimated $24.8M increase.
  • Dark Forest Capital Management's biggest Q4 2025 reduction was iShares MSCI Brazil ETF, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Booz Allen Hamilton in Q4 2025, selling an estimated $15M.
  • Dark Forest Capital Management's ten largest holdings make up 7% of its $2.19B portfolio in Q4 2025.
  • Dark Forest Capital Management opened 319 new positions and closed 499 in Q4 2025.
  • Dark Forest Capital Management's portfolio value fell 18% quarter-over-quarter to $2.19B.

Based on Dark Forest Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.