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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
-5.08%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.2B
AUM Growth
+$1.52B
Cap. Flow
+$1.68B
Cap. Flow %
76.49%
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$27.3M
2
CRH icon
CRH
CRH
+$12.6M
3
MSFT icon
Microsoft
MSFT
+$12.2M
4
AMCR icon
Amcor
AMCR
+$12.2M
5
LIVN icon
LivaNova
LIVN
+$11.2M

Top Sells

Rank Stock Value
1
TTD icon
Trade Desk
TTD
+$9.58M
2
APP icon
Applovin
APP
+$6.9M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$5M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$4.89M
5
GWRE icon
Guidewire Software
GWRE
+$4.75M

Sector Composition

Rank Sector Weight
1 Financials 16.4%
2 Industrials 14.7%
3 Technology 12.79%
4 Consumer Discretionary 11.74%
5 Healthcare 9.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KMX icon
476
CarMax
KMX
$8.26B
$1.57M 0.07%
20,091
+12,641
+170% +$1.01M
RELY icon
477
Remitly
RELY
$5.14B
$1.56M 0.07%
+75,151
New +$1.72M
RXST icon
478
RxSight
RXST
$260M
$1.55M 0.07%
61,540
+48,725
+380% +$1.45M
OI icon
479
O-I Glass
OI
$1.08B
$1.55M 0.07%
+135,330
New +$1.54M
CASH icon
480
Pathward Financial
CASH
$1.8B
$1.55M 0.07%
+21,271
New +$1.62M
AKRO
481
DELISTED
Akero Therapeutics
AKRO
$1.55M 0.07%
38,190
+21,297
+126% +$903K
DFS
482
DELISTED
Discover Financial Services
DFS
$1.55M 0.07%
9,055
+5,662
+167% +$1.04M
PLAB icon
483
Photronics
PLAB
$1.93B
$1.55M 0.07%
+74,447
New +$1.66M
HUBB icon
484
Hubbell
HUBB
$27.2B
$1.54M 0.07%
4,644
+2,138
+85% +$828K
OPLN
485
Openlane
OPLN
$4.54B
$1.54M 0.07%
+79,642
New +$1.64M
VRDN icon
486
Viridian Therapeutics
VRDN
$2.67B
$1.53M 0.07%
113,646
+100,361
+755% +$1.71M
RGR icon
487
Sturm, Ruger & Co
RGR
$593M
$1.53M 0.07%
+38,898
New +$1.46M
HGV icon
488
Hilton Grand Vacations
HGV
$3.55B
$1.51M 0.07%
40,467
+27,796
+219% +$1.11M
NFLX icon
489
Netflix
NFLX
$309B
$1.51M 0.07%
+16,230
New +$1.54M
TRNS icon
490
Transcat
TRNS
$871M
$1.5M 0.07%
20,195
+13,284
+192% +$1.11M
OMCL icon
491
Omnicell
OMCL
$1.68B
$1.5M 0.07%
+42,973
New +$1.7M
NDSN icon
492
Nordson
NDSN
$17.3B
$1.5M 0.07%
7,442
+5,286
+245% +$1.12M
GTES icon
493
Gates Industrial Corporation Ltd.
GTES
$7.15B
$1.5M 0.07%
81,466
+48,904
+150% +$1.01M
RNR icon
494
RenaissanceRe
RNR
$13.4B
$1.5M 0.07%
+6,239
New +$1.51M
VBTX
495
DELISTED
Veritex Holdings
VBTX
$1.5M 0.07%
+59,950
New +$1.54M
LAZ icon
496
Lazard
LAZ
$4.31B
$1.49M 0.07%
34,355
+9,919
+41% +$493K
KYMR icon
497
Kymera Therapeutics
KYMR
$8.94B
$1.48M 0.07%
54,154
+43,905
+428% +$1.6M
PHIN icon
498
Phinia Inc
PHIN
$2.74B
$1.48M 0.07%
+34,886
New +$1.67M
PM icon
499
Philip Morris
PM
$295B
$1.48M 0.07%
9,317
-1,660
-15% -$235K
SMTC icon
500
Semtech
SMTC
$13B
$1.47M 0.07%
42,683
+34,237
+405% +$1.69M
18 19
20
21 22

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Dark Forest Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Dark Forest Capital Management held 1,491 positions worth $2.2B, up 225% from $678M the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.

Dark Forest Capital Management deployed $1.68B of net new capital in Q1 2025, opening 604 new positions and adding to 497 existing holdings. Its largest new stake was Palo Alto Networks: 55,911 shares worth $9.54M.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Applovin, an estimated $6.9M trimmed.

  • Dark Forest Capital Management's largest Q1 2025 buy was Palo Alto Networks: 55,911 shares worth $9.54M.
  • Dark Forest Capital Management added most to Cheniere Energy in Q1 2025, an estimated $27.3M increase.
  • Dark Forest Capital Management's biggest Q1 2025 reduction was Applovin, cutting an estimated $6.9M.
  • Dark Forest Capital Management fully exited Trade Desk in Q1 2025, selling an estimated $9.58M.
  • Dark Forest Capital Management's ten largest holdings make up 7.2% of its $2.2B portfolio in Q1 2025.
  • Dark Forest Capital Management opened 604 new positions and closed 295 in Q1 2025.
  • Dark Forest Capital Management's portfolio value rose 225% quarter-over-quarter to $2.2B.

Based on Dark Forest Capital Management's 13F filing for Q1 2025, filed 15 May 2025.