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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
+10.07%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$666M
AUM Growth
-$632M
Cap. Flow
-$687M
Cap. Flow %
-103.08%
Top 10 Hldgs %
40.61%
Holding
1,194
New
130
Increased
97
Reduced
186
Closed
768

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$93.3M
2
P
Everpure Inc
P
+$18.1M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$15.9M
4
WDAY icon
Workday
WDAY
+$15.8M
5
APP icon
Applovin
APP
+$15.5M

Top Sells

Rank Stock Value
1
LULU icon
lululemon athletica
LULU
+$17.1M
2
KSS icon
Kohl's
KSS
+$11.8M
3
VMBS icon
Vanguard Mortgage-Backed Securities ETF
VMBS
+$11.6M
4
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$8.19M
5
CNGL
Canna-Global Acquisition Corp. Class A Common Stock
CNGL
+$5.88M

Sector Composition

Rank Sector Weight
1 Communication Services 26.63%
2 Technology 15.32%
3 Financials 8.5%
4 Industrials 8.5%
5 Consumer Discretionary 7.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ATR icon
501
AptarGroup
ATR
$8.61B
– –
-9,518
Closed -$1.19M
OPTU
502
Optimum Communications Inc
OPTU
$301M
– –
-28,333
Closed -$92.6K
AUB icon
503
Atlantic Union Bankshares
AUB
$5.97B
– –
-41,879
Closed -$1.21M
AUPH icon
504
Aurinia Pharmaceuticals
AUPH
$2.11B
– –
-115,220
Closed -$895K
AVA icon
505
Avista
AVA
$3.24B
– –
-41,634
Closed -$1.35M
AVNS
506
DELISTED
Avanos Medical
AVNS
– –
-18,388
Closed -$372K
AVXL icon
507
Anavex Life Sciences
AVXL
$310M
– –
-11,530
Closed -$75.5K
AWI icon
508
Armstrong World Industries
AWI
$7.84B
– –
-22,633
Closed -$1.63M
AWK icon
509
American Water Works
AWK
$26.9B
– –
-11,287
Closed -$1.4M
AWR icon
510
American States Water
AWR
$3.46B
– –
-22,469
Closed -$1.77M
AX icon
511
Axos Financial
AX
$5.68B
– –
-58,821
Closed -$2.23M
AXON
512
Axon Enterprise
AXON
$46.4B
– –
-7,351
Closed -$1.46M
AZO icon
513
AutoZone
AZO
$51.1B
– –
-452
Closed -$1.15M
BA icon
514
Boeing
BA
$185B
– –
-2,832
Closed -$543K
BAH icon
515
Booz Allen Hamilton
BAH
$9.15B
– –
-4,692
Closed -$513K
BALL icon
516
Ball Corp
BALL
$16.8B
– –
-8,159
Closed -$406K
BAND
517
Bandwidth Inc
BAND
$1.61B
– –
-52,331
Closed -$590K
BBY icon
518
Best Buy
BBY
$17.3B
– –
-9,873
Closed -$686K
BCC icon
519
Boise Cascade
BCC
$3.02B
– –
-15,129
Closed -$1.56M
BE icon
520
Bloom Energy
BE
$64.6B
– –
-118,196
Closed -$1.57M
BFH icon
521
Bread Financial
BFH
$4.38B
– –
-8,798
Closed -$301K
BGS icon
522
B&G Foods
BGS
$286M
– –
-12,741
Closed -$126K
BHVN icon
523
Biohaven
BHVN
$2.21B
– –
-24,836
Closed -$646K
BJRI icon
524
BJ's Restaurants
BJRI
$1.48B
– –
-41,724
Closed -$979K
BKD icon
525
Brookdale Senior Living
BKD
$3.4B
– –
-90,247
Closed -$374K
19 20
21
22 23

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Dark Forest Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Dark Forest Capital Management held 1,194 positions worth $666M, down 49% from $1.3B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Dark Forest Capital Management withdrew a net $687M in Q4 2023, closing 768 positions and reducing 186 holdings. Its most notable exit was lululemon athletica, an estimated $17.1M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 27% of assets, up from 6.2% a quarter earlier, followed by Technology and Financials.

Against the trend, Dark Forest Capital Management opened a new position in Everpure Inc worth $18.4M.

  • Dark Forest Capital Management's largest Q4 2023 buy was Everpure Inc: 514,899 shares worth $18.4M.
  • Dark Forest Capital Management added most to Alphabet (Google) Class A in Q4 2023, an estimated $93.3M increase.
  • Dark Forest Capital Management's biggest Q4 2023 reduction was Kohl's, cutting an estimated $11.8M.
  • Dark Forest Capital Management fully exited lululemon athletica in Q4 2023, selling an estimated $17.1M.
  • Dark Forest Capital Management's ten largest holdings make up 41% of its $666M portfolio in Q4 2023.
  • Dark Forest Capital Management opened 130 new positions and closed 768 in Q4 2023.
  • Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $666M.

Based on Dark Forest Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.