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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
-0.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$1.13B
AUM Growth
-$1.06B
Cap. Flow
-$1.04B
Cap. Flow %
-92.28%
Top 10 Hldgs %
8.34%
Holding
1,215
New
284
Increased
139
Reduced
338
Closed
449

Top Buys

Rank Stock Value
1
CDE icon
Coeur Mining
CDE
+$11.4M
2
TPG icon
TPG
TPG
+$9.58M
3
SOFI icon
SoFi Technologies
SOFI
+$7.05M
4
FWONK icon
Liberty Media Series C
FWONK
+$6.49M
5
Z icon
Zillow
Z
+$6.11M

Top Sells

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$30.9M
2
WMT icon
Walmart Inc
WMT
+$15.7M
3
CVX icon
Chevron
CVX
+$15M
4
SPG icon
Simon Property Group
SPG
+$12.5M
5
BROS icon
Dutch Bros
BROS
+$9.95M

Sector Composition

Rank Sector Weight
1 Financials 21.03%
2 Technology 15.44%
3 Industrials 15.31%
4 Consumer Discretionary 12.17%
5 Healthcare 9.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BEN icon
526
Franklin Resources
BEN
$16.8B
$572K 0.05%
24,216
-96,247
-80% -$2.48M
RL icon
527
Ralph Lauren
RL
$23B
$567K 0.05%
+1,649
New +$586K
ASH icon
528
Ashland
ASH
$3.13B
$559K 0.05%
10,055
-25,547
-72% -$1.51M
CGNX icon
529
Cognex
CGNX
$10.4B
$553K 0.05%
11,284
-23,967
-68% -$1.12M
SPB icon
530
Spectrum Brands
SPB
$2.05B
$550K 0.05%
+7,460
New +$531K
TERN
531
DELISTED
Terns Pharmaceuticals
TERN
$548K 0.05%
10,400
+31
+0.3% +$1.27K
WTRG icon
532
Essential Utilities
WTRG
$11.2B
$546K 0.05%
+13,552
New +$533K
APGE icon
533
Apogee Therapeutics
APGE
$10.1B
$545K 0.05%
+6,476
New +$470K
PAYC icon
534
Paycom
PAYC
$6.5B
$543K 0.05%
4,467
-6,243
-58% -$835K
HII icon
535
Huntington Ingalls Industries
HII
$10.9B
$539K 0.05%
+1,419
New +$585K
V icon
536
Visa
V
$672B
$536K 0.05%
1,774
-6,131
-78% -$1.97M
TBBK icon
537
The Bancorp
TBBK
$2.77B
$535K 0.05%
+9,964
New +$596K
IVZ icon
538
Invesco
IVZ
$13.5B
$534K 0.05%
21,982
-67,648
-75% -$1.77M
XPO icon
539
XPO
XPO
$25.1B
$533K 0.05%
2,741
-2,130
-44% -$382K
MP icon
540
MP Materials
MP
$8.13B
$531K 0.05%
11,006
-48,748
-82% -$2.92M
INOD icon
541
Innodata
INOD
$2.01B
$531K 0.05%
+13,739
New +$685K
MCY icon
542
Mercury Insurance
MCY
$5.69B
$528K 0.05%
5,991
+1,842
+44% +$165K
DCOM icon
543
Dime Commercial Bancshares
DCOM
$1.74B
$525K 0.05%
+15,526
New +$510K
AMCR icon
544
Amcor
AMCR
$20B
$524K 0.05%
+13,172
New +$583K
PRKS icon
545
United Parks & Resorts
PRKS
$2.13B
$523K 0.05%
+16,010
New +$560K
PNTG icon
546
Pennant Group
PNTG
$1.41B
$519K 0.05%
17,035
-61,155
-78% -$1.89M
PRI icon
547
Primerica
PRI
$9.76B
$517K 0.05%
+2,064
New +$532K
L icon
548
Loews
L
$23.6B
$516K 0.05%
4,831
-85,075
-95% -$9.11M
CINF icon
549
Cincinnati Financial
CINF
$27.7B
$513K 0.05%
+3,260
New +$530K
HOG icon
550
Harley-Davidson
HOG
$2.91B
$512K 0.05%
+25,337
New +$497K
20 21
22
23 24

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Dark Forest Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Dark Forest Capital Management held 1,215 positions worth $1.13B, down 49% from $2.19B the previous quarter. Its ten largest holdings account for 8.3% of the portfolio.

Dark Forest Capital Management withdrew a net $1.04B in Q1 2026, closing 449 positions and reducing 338 holdings. Its most notable exit was Chevron, an estimated $15M position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 18% a quarter earlier, followed by Technology and Industrials.

Against the trend, Dark Forest Capital Management opened a new position in Liberty Media Series C worth $6.31M.

  • Dark Forest Capital Management's largest Q1 2026 buy was Liberty Media Series C: 74,238 shares worth $6.31M.
  • Dark Forest Capital Management added most to Coeur Mining in Q1 2026, an estimated $11.4M increase.
  • Dark Forest Capital Management's biggest Q1 2026 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $30.9M.
  • Dark Forest Capital Management fully exited Chevron in Q1 2026, selling an estimated $15M.
  • Dark Forest Capital Management's ten largest holdings make up 8.3% of its $1.13B portfolio in Q1 2026.
  • Dark Forest Capital Management opened 284 new positions and closed 449 in Q1 2026.
  • Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $1.13B.

Based on Dark Forest Capital Management's 13F filing for Q1 2026, filed 15 May 2026.