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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
TDW icon
426
Tidewater
TDW
$4.12B
$2.22M 0.08%
41,559
+31,075
+296% +$1.7M
WWW icon
427
Wolverine World Wide
WWW
$1.55B
$2.22M 0.08%
+80,761
New +$2.13M
EW icon
428
Edwards Lifesciences
EW
$51.7B
$2.21M 0.08%
28,410
+13,039
+85% +$1.02M
FBNC icon
429
First Bancorp
FBNC
$2.68B
$2.21M 0.08%
41,746
+26,372
+172% +$1.35M
WABC icon
430
Westamerica Bancorp
WABC
$1.37B
$2.2M 0.08%
44,092
+643
+1% +$31.8K
TRNS icon
431
Transcat
TRNS
$871M
$2.2M 0.08%
30,077
+1,548
+5% +$125K
ASH icon
432
Ashland
ASH
$3.5B
$2.19M 0.08%
45,773
+21,919
+92% +$1.15M
QNST icon
433
QuinStreet
QNST
$1.21B
$2.19M 0.08%
141,636
+40,678
+40% +$646K
FRSH icon
434
Freshworks
FRSH
$3.27B
$2.18M 0.08%
185,254
+107,931
+140% +$1.45M
RPM icon
435
RPM International
RPM
$15B
$2.18M 0.08%
+18,495
New +$2.22M
DCH
436
Dauch Corp
DCH
$1.51B
$2.18M 0.08%
362,584
-268,463
-43% -$1.44M
TEX icon
437
Terex
TEX
$7.74B
$2.18M 0.08%
+42,475
New +$2.16M
SEE
438
DELISTED
Sealed Air
SEE
$2.17M 0.08%
+61,356
New +$1.96M
CFLT
439
DELISTED
Confluent
CFLT
$2.16M 0.08%
108,866
+14,502
+15% +$303K
LEN icon
440
Lennar Class A
LEN
$21.2B
$2.15M 0.08%
17,072
+6,594
+63% +$818K
BFC icon
441
Bank First Corp
BFC
$1.7B
$2.15M 0.08%
+17,705
New +$2.2M
SF
442
Stifel
SF
$12.6B
$2.15M 0.08%
28,362
+12,870
+83% +$964K
CHE icon
443
Chemed
CHE
$7.22B
$2.15M 0.08%
4,791
+722
+18% +$327K
MOH icon
444
Molina Healthcare
MOH
$10.3B
$2.13M 0.08%
+11,152
New +$2.05M
ETN icon
445
Eaton
ETN
$174B
$2.13M 0.08%
5,693
-1,123
-16% -$408K
AAT
446
American Assets Trust
AAT
$1.4B
$2.13M 0.08%
104,702
+14,443
+16% +$291K
TROX icon
447
Tronox
TROX
$1.04B
$2.12M 0.08%
528,515
+200,214
+61% +$916K
YETI icon
448
Yeti Holdings
YETI
$3.95B
$2.11M 0.08%
+63,478
New +$2.22M
COKE icon
449
Coca-Cola Consolidated
COKE
$12.8B
$2.1M 0.08%
+17,949
New +$2.08M
GD icon
450
General Dynamics
GD
$106B
$2.1M 0.08%
+6,166
New +$1.94M
16 17
18
19 20

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AT
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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.