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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
+5.34%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$407M
AUM Growth
-$182M
Cap. Flow
-$198M
Cap. Flow %
-48.62%
Top 10 Hldgs %
20.41%
Holding
1,725
New
514
Increased
247
Reduced
247
Closed
619

Top Buys

Rank Stock Value
1
NSTC
Northern Star Investment Corp. III
NSTC
+$5.99M
2
TTC icon
Toro Company
TTC
+$5.07M
3
ACM icon
Aecom
ACM
+$4.77M
4
NSTD
Northern Star Investment Corp. IV
NSTD
+$4.6M
5
MDH
MDH Acquisition Corp.
MDH
+$4.42M

Top Sells

Rank Stock Value
1
ENPC
Executive Network Partnering Corporation
ENPC
+$23.9M
2
ASZ
Austerlitz Acquisition Corporation II
ASZ
+$11.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$8.14M
4
SNRH
Senior Connect Acquisition Corp. I Class A Common Stock
SNRH
+$7.68M
5
AUS
Austerlitz Acquisition Corporation I
AUS
+$6.96M

Sector Composition

Rank Sector Weight
1 Financials 58.86%
2 Healthcare 8.81%
3 Industrials 8.57%
4 Technology 5.6%
5 Energy 5.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GGG icon
26
Graco
GGG
$13.3B
$3.8M 0.93%
+56,523
New +$3.77M
IGTA
27
DELISTED
Inception Growth Acquisition Limited Common Stock
IGTA
$3.69M 0.91%
363,976
+10,400
+3% +$104K
AEON icon
28
AEON Biopharma
AEON
$13.2M
$3.65M 0.9%
5,051
+4,202
+495% +$3.01M
TLSI icon
29
TriSalus Life Sciences
TLSI
$289M
$3.5M 0.86%
348,547
– –
LOKM
30
DELISTED
Live Oak Mobility Acquisition Corp.
LOKM
$3.37M 0.83%
+334,842
New +$3.33M
FEXD
31
DELISTED
Fintech Ecosystem Development Corp. Class A Common Stock
FEXD
$3.2M 0.79%
312,350
– –
UTHR icon
32
United Therapeutics
UTHR
$22B
$3.18M 0.78%
11,431
+11,407
+47,529% +$2.88M
SDAC
33
DELISTED
Sustainable Development Acquisition I Corp. Class A Common Stock
SDAC
$3.13M 0.77%
310,845
+3,864
+1% +$38.6K
AXON
34
Axon Enterprise
AXON
$49B
$2.91M 0.72%
17,552
+17,527
+70,108% +$2.77M
HZNP
35
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$2.84M 0.7%
+24,979
New +$2.07M
SGII
36
DELISTED
Seaport Global Acquisition II Corp. Class A Common Stock
SGII
$2.71M 0.67%
265,876
+237,425
+835% +$2.4M
COCH icon
37
Envoy Medical
COCH
$54.9M
$2.62M 0.65%
261,884
+246,045
+1,553% +$2.45M
KSI
38
DELISTED
Kadem Sustainable Impact Corporation Class A common stock
KSI
$2.57M 0.63%
255,787
+146,621
+134% +$1.46M
ROSS
39
DELISTED
Ross Acquisition Corp II
ROSS
$2.54M 0.62%
+250,551
New +$2.51M
VSAC
40
DELISTED
Vision Sensing Acquisition Corp. Class A Common Stock
VSAC
$2.53M 0.62%
246,187
– –
SAMA
41
DELISTED
Schultze Special Purpose Acquisition Corp. II Class A Common Stock
SAMA
$2.44M 0.6%
241,618
+239,222
+9,984% +$2.39M
TRIS
42
DELISTED
Tristar Acquisition I Corp.
TRIS
$2.39M 0.59%
236,151
– –
PUCK
43
DELISTED
Goal Acquisitions Corp. Common Stock
PUCK
$2.38M 0.58%
236,301
+85,987
+57% +$855K
DLCA
44
DELISTED
Deep Lake Capital Acquisition Corp. Class A Ordinary Shares
DLCA
$2.36M 0.58%
233,478
+9,619
+4% +$96.5K
KMT icon
45
Kennametal
KMT
$2.74B
$2.31M 0.57%
95,815
-70,059
-42% -$1.74M
MCAF
46
DELISTED
Mountain Crest Acquisition Corp. IV Common Stock
MCAF
$2.3M 0.57%
227,714
– –
PTOC
47
DELISTED
Pine Technology Acquisition Corp. Class A Common Stock
PTOC
$2.27M 0.56%
+226,552
New +$2.25M
ENER
48
DELISTED
Accretion Acquisition Corp
ENER
$2.23M 0.55%
221,617
– –
AGAC
49
DELISTED
African Gold Acquisition Corp
AGAC
$2.2M 0.54%
218,863
+8,268
+4% +$82.5K
APGB
50
DELISTED
Apollo Strategic Growth Capital II
APGB
$2.15M 0.53%
214,701
+7,467
+4% +$74.4K
1
2
3 4 5

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Dark Forest Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Dark Forest Capital Management held 1,725 positions worth $407M, down 31% from $589M the previous quarter. Its ten largest holdings account for 20% of the portfolio.

Dark Forest Capital Management withdrew a net $198M in Q4 2022, closing 619 positions and reducing 247 holdings. Its most notable exit was Executive Network Partnering Corporation, an estimated $23.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 59% of assets, up from 55% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Dark Forest Capital Management opened a new position in Toro Company worth $5.42M.

  • Dark Forest Capital Management's largest Q4 2022 buy was Toro Company: 47,868 shares worth $5.42M.
  • Dark Forest Capital Management added most to Northern Star Investment Corp. III in Q4 2022, an estimated $5.99M increase.
  • Dark Forest Capital Management's biggest Q4 2022 reduction was iShares TIPS Bond ETF, cutting an estimated $8.14M.
  • Dark Forest Capital Management fully exited Executive Network Partnering Corporation in Q4 2022, selling an estimated $23.9M.
  • Dark Forest Capital Management's ten largest holdings make up 20% of its $407M portfolio in Q4 2022.
  • Dark Forest Capital Management opened 514 new positions and closed 619 in Q4 2022.
  • Dark Forest Capital Management's portfolio value fell 31% quarter-over-quarter to $407M.

Based on Dark Forest Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.