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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
SHOO icon
501
Steven Madden
SHOO
$3.55B
$1.46M 0.07%
54,907
+47,139
+607% +$1.66M
BWA icon
502
BorgWarner
BWA
$13.9B
$1.46M 0.07%
+51,004
New +$1.55M
TRUP icon
503
Trupanion
TRUP
$1.18B
$1.46M 0.07%
39,183
+27,496
+235% +$1.14M
UHS icon
504
Universal Health Services
UHS
$10.5B
$1.46M 0.07%
7,753
+2,252
+41% +$411K
ATSG
505
DELISTED
Air Transport Services Group
ATSG
$1.44M 0.07%
+64,359
New +$1.43M
PRIM icon
506
Primoris Services
PRIM
$4.45B
$1.43M 0.07%
24,966
+12,618
+102% +$912K
G icon
507
Genpact
G
$5.76B
$1.43M 0.06%
+28,312
New +$1.4M
DIN icon
508
Dine Brands
DIN
$452M
$1.43M 0.06%
+61,245
New +$1.65M
WRBY icon
509
Warby Parker
WRBY
$3.27B
$1.42M 0.06%
78,057
+38,281
+96% +$913K
GNRC icon
510
Generac Holdings
GNRC
$12.5B
$1.42M 0.06%
+11,229
New +$1.61M
NHC icon
511
National Healthcare
NHC
$3.38B
$1.42M 0.06%
+15,264
New +$1.48M
DOCN icon
512
DigitalOcean
DOCN
$14.6B
$1.42M 0.06%
+42,389
New +$1.66M
RDW icon
513
Redwire
RDW
$3.25B
$1.42M 0.06%
+170,714
New +$2.83M
CGNX icon
514
Cognex
CGNX
$11.3B
$1.41M 0.06%
47,274
+12,986
+38% +$457K
FFIN icon
515
First Financial Bankshares
FFIN
$4.97B
$1.41M 0.06%
39,247
+16,468
+72% +$605K
DT icon
516
Dynatrace
DT
$14.2B
$1.41M 0.06%
29,891
+23,096
+340% +$1.26M
LLYVK icon
517
Liberty Live Group Series C
LLYVK
$9.46B
$1.41M 0.06%
+20,662
New +$1.47M
AVDL
518
DELISTED
Avadel Pharmaceuticals
AVDL
$1.4M 0.06%
+179,437
New +$1.5M
LNN icon
519
Lindsay Corp
LNN
$1.18B
$1.4M 0.06%
11,095
+8,128
+274% +$1.06M
CG icon
520
Carlyle Group
CG
$17.2B
$1.4M 0.06%
+32,188
New +$1.6M
ROAD icon
521
Construction Partners
ROAD
$6.77B
$1.4M 0.06%
19,521
+9,405
+93% +$741K
IBKR icon
522
Interactive Brokers
IBKR
$39.8B
$1.4M 0.06%
33,848
+11,828
+54% +$586K
TOST icon
523
Toast
TOST
$19.9B
$1.4M 0.06%
42,232
+30,466
+259% +$1.14M
AAMI
524
Acadian Asset Management
AAMI
$3.19B
$1.4M 0.06%
+54,132
New +$1.36M
MMS icon
525
Maximus
MMS
$3.1B
$1.4M 0.06%
20,522
+13,083
+176% +$932K
19 20
21
22 23

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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.