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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
PFG icon
451
Principal Financial Group
PFG
$24.4B
$1.98M 0.08%
24,900
-3,056
-11% -$235K
NSP icon
452
Insperity
NSP
$2.03B
$1.97M 0.08%
32,831
+18,705
+132% +$1.31M
LCII icon
453
LCI Industries
LCII
$2.57B
$1.97M 0.08%
21,628
-37,483
-63% -$3.2M
RES icon
454
RPC Inc
RES
$1.32B
$1.95M 0.08%
+412,544
New +$1.99M
STE icon
455
Steris
STE
$22.9B
$1.95M 0.08%
8,101
+3,039
+60% +$708K
NNI icon
456
Nelnet
NNI
$4.67B
$1.94M 0.08%
16,053
+12,535
+356% +$1.4M
IRDM icon
457
Iridium Communications
IRDM
$5.28B
$1.94M 0.08%
64,274
-26
-0% -$676
MCRI icon
458
Monarch Casino & Resort
MCRI
$2.22B
$1.94M 0.08%
22,433
-3,973
-15% -$320K
CB icon
459
Chubb
CB
$136B
$1.94M 0.08%
+6,692
New +$1.93M
OKE icon
460
Oneok
OKE
$55.3B
$1.94M 0.08%
23,731
-16,641
-41% -$1.39M
DHI icon
461
D.R. Horton
DHI
$41.4B
$1.94M 0.08%
15,017
+8,522
+131% +$1.05M
SAIC icon
462
Saic
SAIC
$5.31B
$1.94M 0.08%
17,192
+8,309
+94% +$947K
GLW icon
463
Corning
GLW
$144B
$1.93M 0.08%
36,755
-8,343
-18% -$391K
ABM icon
464
ABM Industries
ABM
$2.87B
$1.93M 0.08%
+40,802
New +$1.97M
SOC icon
465
Sable Offshore Corp
SOC
$928M
$1.93M 0.08%
87,635
+58,382
+200% +$1.36M
CGNX icon
466
Cognex
CGNX
$11.5B
$1.92M 0.08%
60,564
+13,290
+28% +$381K
LADR
467
Ladder Capital
LADR
$1.23B
$1.92M 0.08%
+178,574
New +$1.88M
CPRT icon
468
Copart
CPRT
$27.4B
$1.92M 0.08%
39,047
-39,704
-50% -$2.22M
EBC icon
469
Eastern Bankshares
EBC
$5.25B
$1.92M 0.08%
125,430
-26,660
-18% -$400K
FCFS icon
470
FirstCash
FCFS
$8.9B
$1.92M 0.08%
14,171
+9,628
+212% +$1.23M
KD icon
471
Kyndryl
KD
$3.04B
$1.91M 0.08%
45,526
+12,996
+40% +$470K
PL icon
472
Planet Labs
PL
$8.58B
$1.91M 0.08%
+313,158
New +$1.28M
WRBY icon
473
Warby Parker
WRBY
$3.28B
$1.9M 0.08%
86,417
+8,360
+11% +$155K
LOPE icon
474
Grand Canyon Education
LOPE
$3.95B
$1.89M 0.08%
10,014
+8,456
+543% +$1.57M
PTON icon
475
Peloton Interactive
PTON
$2.44B
$1.89M 0.08%
272,331
-169,314
-38% -$1.1M
17 18
19
20 21

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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.