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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
+6.88%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.66B
AUM Growth
+$149M
Cap. Flow
+$50.1M
Cap. Flow %
1.89%
Top 10 Hldgs %
6.39%
Holding
1,542
New
400
Increased
350
Reduced
355
Closed
431

Top Buys

Rank Stock Value
1
L icon
Loews
L
+$17.8M
2
INDA icon
iShares MSCI India ETF
INDA
+$17.3M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$16.4M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$16.2M
5
WMT icon
Walmart Inc
WMT
+$10M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$14.9M
2
NVDA icon
NVIDIA
NVDA
+$12.5M
3
BAC icon
Bank of America
BAC
+$12.5M
4
PANW icon
Palo Alto Networks
PANW
+$11.6M
5
AAPL icon
Apple
AAPL
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 18.09%
2 Industrials 14.85%
3 Technology 14.22%
4 Consumer Discretionary 11.61%
5 Healthcare 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRVL icon
576
CorVel
CRVL
$3.19B
$1.52M 0.06%
19,622
-8,962
-31% -$799K
ADPT icon
577
Adaptive Biotechnologies
ADPT
$3.97B
$1.52M 0.06%
101,395
-82,573
-45% -$1.01M
AMR icon
578
Alpha Metallurgical Resources
AMR
$1.93B
$1.52M 0.06%
+9,233
New +$1.28M
MGNI icon
579
Magnite
MGNI
$3.55B
$1.51M 0.06%
69,509
+20,205
+41% +$477K
AUR icon
580
Aurora
AUR
$13.8B
$1.51M 0.06%
+280,186
New +$1.64M
MRX
581
Marex Group Limited Ordinary Shares
MRX
$4.37B
$1.51M 0.06%
+44,888
New +$1.62M
ALIT icon
582
Alight
ALIT
$407M
$1.51M 0.06%
23,127
+21,121
+1,053% +$1.87M
LLYVK icon
583
Liberty Live Group Series C
LLYVK
$9.46B
$1.51M 0.06%
15,525
-4,449
-22% -$402K
PRMB
584
Primo Brands
PRMB
$8.54B
$1.5M 0.06%
67,903
+16,273
+32% +$421K
LULU icon
585
lululemon athletica
LULU
$14.6B
$1.5M 0.06%
8,411
+3,009
+56% +$603K
TIGO icon
586
Millicom
TIGO
$16.3B
$1.49M 0.06%
+30,783
New +$1.35M
COO icon
587
Cooper Companies
COO
$14.5B
$1.49M 0.06%
+21,776
New +$1.54M
DCOM icon
588
Dime Commercial Bancshares
DCOM
$1.78B
$1.49M 0.06%
49,811
-17,230
-26% -$505K
TPR icon
589
Tapestry
TPR
$32.8B
$1.49M 0.06%
13,119
-34,398
-72% -$3.6M
PBH icon
590
Prestige Consumer Healthcare
PBH
$2.6B
$1.48M 0.06%
+23,780
New +$1.66M
MANH icon
591
Manhattan Associates
MANH
$11.4B
$1.48M 0.06%
+7,223
New +$1.53M
MASI
592
DELISTED
Masimo
MASI
$1.48M 0.06%
+10,009
New +$1.52M
ORLY icon
593
O'Reilly Automotive
ORLY
$76.3B
$1.48M 0.06%
13,696
-49,510
-78% -$4.98M
BWIN
594
Baldwin Insurance Group
BWIN
$2.86B
$1.47M 0.06%
+52,050
New +$1.81M
SPT icon
595
Sprout Social
SPT
$621M
$1.46M 0.06%
113,364
+96,601
+576% +$1.58M
ALX
596
Alexander's
ALX
$1.41B
$1.46M 0.06%
+6,241
New +$1.47M
IDYA icon
597
IDEAYA Biosciences
IDYA
$3.56B
$1.46M 0.06%
+53,715
New +$1.3M
GTES icon
598
Gates Industrial Corporation Ltd.
GTES
$7.15B
$1.46M 0.06%
58,866
-120,511
-67% -$2.99M
SARO
599
StandardAero Inc
SARO
$9.7B
$1.46M 0.05%
+53,337
New +$1.5M
CNXN icon
600
PC Connection
CNXN
$2.12B
$1.45M 0.05%
23,431
+701
+3% +$44.7K
22 23
24
25 26

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Dark Forest Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Dark Forest Capital Management held 1,542 positions worth $2.66B, up 6% from $2.51B the previous quarter. Its ten largest holdings account for 6.4% of the portfolio.

Dark Forest Capital Management's Q3 2025 filing shows 400 new, 350 increased, 355 reduced and 431 closed positions. Its largest new stake was iShares MSCI India ETF: 324,340 shares worth $16.9M. The largest sale was Cheniere Energy, an estimated $14.9M.

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

  • Dark Forest Capital Management's largest Q3 2025 buy was iShares MSCI India ETF: 324,340 shares worth $16.9M.
  • Dark Forest Capital Management added most to Loews in Q3 2025, an estimated $17.8M increase.
  • Dark Forest Capital Management's biggest Q3 2025 reduction was Cheniere Energy, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Bank of America in Q3 2025, selling an estimated $12.5M.
  • Dark Forest Capital Management's ten largest holdings make up 6.4% of its $2.66B portfolio in Q3 2025.
  • Dark Forest Capital Management opened 400 new positions and closed 431 in Q3 2025.
  • Dark Forest Capital Management's portfolio value rose 6% quarter-over-quarter to $2.66B.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.