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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
LivaNova
LIVN
+$9.42M

Sector Composition

Rank Sector Weight
1 Financials 17.68%
2 Technology 15.03%
3 Industrials 14.39%
4 Consumer Discretionary 11.22%
5 Healthcare 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NGVC icon
576
Vitamin Cottage Natural Grocers
NGVC
$654M
$1.5M 0.06%
+38,278
New +$1.77M
SNDX icon
577
Syndax Pharmaceuticals
SNDX
$1.82B
$1.5M 0.06%
160,327
+121,118
+309% +$1.33M
A icon
578
Agilent Technologies
A
$41.2B
$1.5M 0.06%
12,704
-25,299
-67% -$2.8M
PLTK icon
579
Playtika
PLTK
$1.12B
$1.5M 0.06%
316,391
+243,755
+336% +$1.2M
CNXN icon
580
PC Connection
CNXN
$2.12B
$1.5M 0.06%
+22,730
New +$1.47M
ZTS icon
581
Zoetis
ZTS
$30.5B
$1.49M 0.06%
9,577
-2,505
-21% -$397K
MAR icon
582
Marriott International
MAR
$92.3B
$1.49M 0.06%
+5,460
New +$1.37M
TFIN icon
583
Triumph Financial Inc
TFIN
$1.82B
$1.49M 0.06%
27,043
-32,832
-55% -$1.83M
CDRE icon
584
Cadre Holdings
CDRE
$1.41B
$1.49M 0.06%
+46,671
New +$1.51M
TW icon
585
Tradeweb Markets
TW
$21.6B
$1.48M 0.06%
10,135
+3,667
+57% +$512K
SAFT icon
586
Safety Insurance
SAFT
$1.52B
$1.48M 0.06%
18,679
+3,343
+22% +$264K
MGRC icon
587
McGrath RentCorp
MGRC
$2.92B
$1.48M 0.06%
12,753
-40,456
-76% -$4.49M
KRC icon
588
Kilroy Realty
KRC
$4.42B
$1.47M 0.06%
42,965
-21,422
-33% -$699K
APOG icon
589
Apogee Enterprises
APOG
$908M
$1.47M 0.06%
+36,250
New +$1.5M
CNS icon
590
Cohen & Steers
CNS
$4.3B
$1.47M 0.06%
19,469
+16,377
+530% +$1.26M
NOW icon
591
ServiceNow
NOW
$129B
$1.47M 0.06%
7,130
+1,080
+18% +$204K
SM icon
592
SM Energy
SM
$6.92B
$1.47M 0.06%
59,320
-27,784
-32% -$673K
RITM icon
593
Rithm Capital
RITM
$5.69B
$1.46M 0.06%
129,672
+104,672
+419% +$1.15M
PCRX icon
594
Pacira BioSciences
PCRX
$997M
$1.46M 0.06%
+61,212
New +$1.54M
REXR icon
595
Rexford Industrial Realty
REXR
$8.19B
$1.46M 0.06%
+41,094
New +$1.43M
LYB icon
596
LyondellBasell Industries
LYB
$19.2B
$1.46M 0.06%
25,210
+20,249
+408% +$1.18M
S icon
597
SentinelOne
S
$7.34B
$1.46M 0.06%
79,672
+66,828
+520% +$1.22M
ROST icon
598
Ross Stores
ROST
$81.9B
$1.45M 0.06%
11,395
+4,653
+69% +$646K
HGV icon
599
Hilton Grand Vacations
HGV
$3.55B
$1.45M 0.06%
34,994
-5,473
-14% -$207K
DKS icon
600
Dick's Sporting Goods
DKS
$18.7B
$1.45M 0.06%
7,335
+6,174
+532% +$1.14M
22 23
24
25 26

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Dark Forest Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.

Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.

  • Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
  • Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
  • Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
  • Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
  • Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
  • Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
  • Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.