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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
NUE icon
526
Nucor
NUE
$62.1B
$1.4M 0.06%
11,600
+6,745
+139% +$869K
ALNY icon
527
Alnylam Pharmaceuticals
ALNY
$29.3B
$1.39M 0.06%
+5,153
New +$1.32M
MBUU icon
528
Malibu Boats
MBUU
$567M
$1.39M 0.06%
+45,338
New +$1.56M
PBI icon
529
Pitney Bowes
PBI
$2.39B
$1.39M 0.06%
+153,553
New +$1.39M
SEB icon
530
Seaboard Corp
SEB
$4.06B
$1.39M 0.06%
515
+327
+174% +$860K
NVCR icon
531
NovoCure
NVCR
$1.91B
$1.39M 0.06%
+77,873
New +$1.77M
PFE icon
532
Pfizer
PFE
$153B
$1.39M 0.06%
+54,674
New +$1.43M
BKR icon
533
Baker Hughes
BKR
$61.1B
$1.37M 0.06%
+31,255
New +$1.39M
STBA icon
534
S&T Bancorp
STBA
$1.79B
$1.37M 0.06%
37,030
+31,007
+515% +$1.19M
PSEC icon
535
Prospect Capital
PSEC
$1.17B
$1.37M 0.06%
334,240
+268,193
+406% +$1.15M
PWR icon
536
Quanta Services
PWR
$101B
$1.37M 0.06%
+5,373
New +$1.55M
VRE
537
DELISTED
Veris Residential
VRE
$1.36M 0.06%
80,599
+55,835
+225% +$902K
BHVN icon
538
Biohaven
BHVN
$2.21B
$1.36M 0.06%
+56,627
New +$2M
PRGO icon
539
Perrigo
PRGO
$1.78B
$1.35M 0.06%
48,158
+36,406
+310% +$944K
EE icon
540
Excelerate Energy
EE
$1.11B
$1.35M 0.06%
47,035
+27,895
+146% +$834K
DAR icon
541
Darling Ingredients
DAR
$9.44B
$1.35M 0.06%
+43,117
New +$1.51M
RYTM icon
542
Rhythm Pharmaceuticals
RYTM
$7.96B
$1.35M 0.06%
25,409
+20,198
+388% +$1.12M
TNDM icon
543
Tandem Diabetes Care
TNDM
$1.56B
$1.34M 0.06%
+70,128
New +$2.05M
SAFE
544
Safehold
SAFE
$1.15B
$1.34M 0.06%
+71,568
New +$1.26M
TDG icon
545
TransDigm Group
TDG
$67.7B
$1.34M 0.06%
968
+376
+64% +$501K
AVNT icon
546
Avient
AVNT
$4.19B
$1.33M 0.06%
+35,878
New +$1.48M
ENVA icon
547
Enova International
ENVA
$6.29B
$1.33M 0.06%
+13,807
New +$1.42M
GHC icon
548
Graham Holdings Company
GHC
$5.02B
$1.33M 0.06%
1,387
+630
+83% +$586K
IESC icon
549
IES Holdings
IESC
$15.2B
$1.33M 0.06%
8,063
+4,557
+130% +$950K
CCEP icon
550
Coca-Cola Europacific Partners
CCEP
$47.9B
$1.33M 0.06%
+15,292
New +$1.25M
20 21
22
23 24

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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.