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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
BKNG icon
526
Booking.com
BKNG
$161B
– –
-14,350
Closed -$1.77M
BKR icon
527
Baker Hughes
BKR
$61.1B
– –
-70,294
Closed -$2.48M
BLD
528
DELISTED
TopBuild
BLD
– –
-9,369
Closed -$2.36M
BLFS icon
529
BioLife Solutions
BLFS
$1.7B
– –
-16,174
Closed -$223K
BLK icon
530
Blackrock
BLK
$176B
– –
-2,490
Closed -$1.61M
BLMN icon
531
Bloomin' Brands
BLMN
$938M
– –
-33,582
Closed -$826K
BMI icon
532
Badger Meter
BMI
$4.03B
– –
-3,839
Closed -$552K
BMRN icon
533
BioMarin Pharmaceuticals
BMRN
$12.4B
– –
-17,388
Closed -$1.54M
BNGO icon
534
Bionano Genomics
BNGO
$13.3M
– –
-2,362
Closed -$429K
BOOT icon
535
Boot Barn
BOOT
$4.95B
– –
-9,455
Closed -$768K
BRBR icon
536
BellRing Brands
BRBR
$1.34B
– –
-25,486
Closed -$1.05M
BRC icon
537
Brady Corp
BRC
$4.57B
– –
-24,900
Closed -$1.37M
BRO icon
538
Brown & Brown
BRO
$23.9B
– –
-25,567
Closed -$1.79M
BROS icon
539
Dutch Bros
BROS
$9.26B
– –
-45,724
Closed -$1.06M
BRY
540
DELISTED
Berry Corp
BRY
– –
-42,713
Closed -$350K
BX icon
541
Blackstone
BX
$110B
– –
-10,223
Closed -$1.1M
BXMT icon
542
Blackstone Mortgage Trust
BXMT
$2.38B
– –
-43,966
Closed -$956K
BXP icon
543
Boston Properties
BXP
$11.1B
– –
-15,191
Closed -$904K
BBBY
544
Bed Bath & Beyond
BBBY
$442M
– –
-155,481
Closed -$2.24M
CAG icon
545
Conagra Brands
CAG
$7.23B
– –
-8,010
Closed -$220K
CAKE icon
546
Cheesecake Factory
CAKE
$5.33B
– –
-51,949
Closed -$1.57M
CARG icon
547
CarGurus
CARG
$3.47B
– –
-74,249
Closed -$1.3M
CARS icon
548
Cars.com
CARS
$660M
– –
-31,705
Closed -$535K
CASH icon
549
Pathward Financial
CASH
$1.8B
– –
-32,439
Closed -$1.5M
CASY icon
550
Casey's General Stores
CASY
$30.9B
– –
-1,271
Closed -$345K
20 21
22
23 24

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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.