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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
NOV icon
551
NOV
NOV
$7.3B
$512K 0.05%
+27,234
New +$512K
EOG icon
552
EOG Resources
EOG
$76.7B
$511K 0.05%
+3,533
New +$429K
TCBK icon
553
TriCo Bancshares
TCBK
$1.9B
$493K 0.04%
+10,374
New +$507K
PLPC icon
554
Preformed Line Products
PLPC
$1.6B
$492K 0.04%
1,817
+244
+16% +$62.4K
ATI icon
555
ATI
ATI
$26.7B
$491K 0.04%
3,378
-6,164
-65% -$858K
CBZ icon
556
CBIZ
CBZ
$2.16B
$489K 0.04%
+18,203
New +$642K
MDGL icon
557
Madrigal Pharmaceuticals
MDGL
$12.4B
$486K 0.04%
+928
New +$443K
UTI icon
558
Universal Technical Institute
UTI
$1.98B
$484K 0.04%
+13,402
New +$423K
PRSU
559
Pursuit Attractions and Hospitality Inc
PRSU
$1.42B
$483K 0.04%
+13,189
New +$470K
PANW icon
560
Palo Alto Networks
PANW
$273B
$483K 0.04%
3,011
-16,726
-85% -$2.81M
SBH icon
561
Sally Beauty Holdings
SBH
$1.4B
$482K 0.04%
34,805
-23,843
-41% -$364K
ALKT icon
562
Alkami Technology
ALKT
$1.76B
$481K 0.04%
30,687
-23,176
-43% -$427K
DOW icon
563
Dow Inc
DOW
$22.5B
$481K 0.04%
+11,544
New +$366K
OGS icon
564
ONE Gas
OGS
$5.04B
$472K 0.04%
5,480
-14,211
-72% -$1.18M
KMX icon
565
CarMax
KMX
$8.15B
$471K 0.04%
+11,316
New +$495K
DLTR icon
566
Dollar Tree
DLTR
$23.5B
$470K 0.04%
4,291
-12,187
-74% -$1.49M
FOX icon
567
Fox Class B
FOX
$21.3B
$467K 0.04%
8,800
– –
SR icon
568
Spire
SR
$4.85B
$465K 0.04%
+5,132
New +$450K
FUL icon
569
H.B. Fuller
FUL
$3.03B
$464K 0.04%
7,524
-38,127
-84% -$2.34M
PAY icon
570
Paymentus
PAY
$3.65B
$463K 0.04%
18,221
-24,130
-57% -$634K
OC icon
571
Owens Corning
OC
$11.3B
$459K 0.04%
4,245
-5,167
-55% -$616K
RF icon
572
Regions Financial
RF
$26.3B
$459K 0.04%
17,566
-967
-5% -$27K
ASO icon
573
Academy Sports + Outdoors
ASO
$3.03B
$457K 0.04%
+8,091
New +$461K
REX icon
574
REX American Resources
REX
$1.54B
$454K 0.04%
9,972
-32,131
-76% -$1.16M
CWAN
575
DELISTED
Clearwater Analytics
CWAN
$453K 0.04%
19,168
-104,413
-84% -$2.47M
21 22
23
24 25

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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.