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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LUV icon
501
Southwest Airlines
LUV
$23B
$433K 0.06%
12,868
-10,184
-44% -$325K
PLD icon
502
Prologis
PLD
$133B
$431K 0.06%
4,078
+907
+29% +$104K
AZPN
503
DELISTED
Aspen Technology Inc
AZPN
$430K 0.06%
+1,723
New +$420K
PRU icon
504
Prudential Financial
PRU
$41.8B
$430K 0.06%
3,625
+1,235
+52% +$152K
CSR
505
Centerspace
CSR
$952M
$429K 0.06%
+6,490
New +$456K
TOST icon
506
Toast
TOST
$19.9B
$429K 0.06%
11,766
-36,906
-76% -$1.3M
CHKP icon
507
Check Point Software Technologies
CHKP
$13.1B
$428K 0.06%
2,293
+1,234
+117% +$232K
IBOC icon
508
International Bancshares
IBOC
$4.57B
$426K 0.06%
6,742
+2,509
+59% +$166K
BKE icon
509
Buckle
BKE
$2.37B
$425K 0.06%
8,369
+1,981
+31% +$93.7K
BXMT icon
510
Blackstone Mortgage Trust
BXMT
$2.38B
$425K 0.06%
+24,400
New +$451K
DKS icon
511
Dick's Sporting Goods
DKS
$18.7B
$424K 0.06%
1,855
-129
-7% -$27.1K
FLO icon
512
Flowers Foods
FLO
$1.57B
$423K 0.06%
20,491
-21,388
-51% -$470K
WTS icon
513
Watts Water Technologies
WTS
$13.1B
$421K 0.06%
+2,071
New +$430K
CCK icon
514
Crown Holdings
CCK
$13.1B
$420K 0.06%
+5,081
New +$462K
THC icon
515
Tenet Healthcare
THC
$21.1B
$420K 0.06%
+3,328
New +$495K
VSH icon
516
Vishay Intertechnology
VSH
$5.43B
$420K 0.06%
24,792
+7,323
+42% +$128K
PLGO
517
Pelagos Insurance Capital
PLGO
$2.14B
$419K 0.06%
23,095
-26,602
-54% -$494K
AEP icon
518
American Electric Power
AEP
$68.4B
$418K 0.06%
4,537
+103
+2% +$9.97K
PPG icon
519
PPG Industries
PPG
$26.6B
$418K 0.06%
3,497
+688
+24% +$86K
SON icon
520
Sonoco
SON
$5.74B
$416K 0.06%
+8,522
New +$440K
ORLY icon
521
O'Reilly Automotive
ORLY
$76.3B
$415K 0.06%
5,250
+870
+20% +$70.1K
EFX icon
522
Equifax
EFX
$21.4B
$415K 0.06%
1,628
+73
+5% +$19.6K
INCY icon
523
Incyte
INCY
$24.4B
$414K 0.06%
5,998
+1,132
+23% +$80.7K
TFX icon
524
Teleflex
TFX
$5.98B
$413K 0.06%
2,320
+1,484
+178% +$305K
KYMR icon
525
Kymera Therapeutics
KYMR
$8.94B
$412K 0.06%
10,249
+5,839
+132% +$264K
19 20
21
22 23

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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.