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DFCM

Dark Forest Capital Management Portfolio holdings

AUM $1.55B
1-Year Est. Return 23.63%
This Fund
S&P 500
This Quarter Est. Return
+13.43%
1 Year Est. Return
+23.63%
3 Year Est. Return
+62.99%
5 Year Est. Return
+72.84%
10 Year Est. Return
–
AUM
$1.55B
AUM Growth
+$423M
Cap. Flow
+$330M
Cap. Flow %
21.27%
Top 10 Hldgs %
7.15%
Holding
1,090
New
324
Increased
286
Reduced
165
Closed
313

Top Buys

Rank Stock Value
1
INDA icon
iShares MSCI India ETF
INDA
+$16.7M
2
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$10.9M
3
EOG icon
EOG Resources
EOG
+$8.97M
4
IEX icon
IDEX
IEX
+$7.66M
5
WEC icon
WEC Energy
WEC
+$7.36M

Top Sells

Rank Stock Value
1
BPOP icon
Popular Inc
BPOP
+$11.8M
2
ROKU icon
Roku
ROKU
+$9.89M
3
MU icon
Micron Technology
MU
+$8.82M
4
CDE icon
Coeur Mining
CDE
+$8.79M
5
AFRM icon
Affirm
AFRM
+$8.59M

Sector Composition

Rank Sector Weight
1 Financials 21.86%
2 Industrials 16.38%
3 Technology 15.65%
4 Consumer Discretionary 10.8%
5 Healthcare 9.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CELH icon
601
Celsius Holdings
CELH
$7.76B
$649K 0.04%
+22,180
New +$699K
TWLO icon
602
Twilio
TWLO
$35.8B
$639K 0.04%
3,098
-9,883
-76% -$1.75M
A icon
603
Agilent Technologies
A
$42.5B
$638K 0.04%
4,806
-2,212
-32% -$270K
ELF icon
604
e.l.f. Beauty
ELF
$6.47B
$638K 0.04%
+8,620
New +$524K
TREX icon
605
Trex
TREX
$4.65B
$637K 0.04%
12,737
-20,888
-62% -$866K
ACHR icon
606
Archer Aviation
ACHR
$4.4B
$634K 0.04%
133,993
+61,350
+84% +$357K
DAKT icon
607
Daktronics
DAKT
$931M
$630K 0.04%
32,215
-5,699
-15% -$113K
CRWD icon
608
CrowdStrike
CRWD
$218B
$628K 0.04%
+3,292
New +$468K
GCT icon
609
GigaCloud Technology
GCT
$1.85B
$627K 0.04%
+19,856
New +$783K
BHE icon
610
Benchmark Electronics
BHE
$2.61B
$623K 0.04%
+6,316
New +$504K
PFBC icon
611
Preferred Bank
PFBC
$1.23B
$617K 0.04%
+5,809
New +$558K
AVT icon
612
Avnet
AVT
$7.56B
$614K 0.04%
6,912
+2,714
+65% +$222K
UPST icon
613
Upstart Holdings
UPST
$2.73B
$612K 0.04%
17,280
-28,556
-62% -$880K
ICUI icon
614
ICU Medical
ICUI
$4.19B
$611K 0.04%
4,165
-1,146
-22% -$149K
ROP icon
615
Roper Technologies
ROP
$40.3B
$606K 0.04%
1,791
-1,993
-53% -$680K
NHC icon
616
National Healthcare
NHC
$3.42B
$606K 0.04%
+2,867
New +$526K
EVLV icon
617
Evolv Technologies
EVLV
$906M
$601K 0.04%
+103,619
New +$649K
AAOI icon
618
Applied Optoelectronics
AAOI
$8.96B
$599K 0.04%
4,043
-9,043
-69% -$1.47M
HPQ icon
619
HP
HPQ
$29.4B
$598K 0.04%
+27,256
New +$603K
WSFS icon
620
WSFS Financial
WSFS
$4.06B
$596K 0.04%
7,767
-6,719
-46% -$482K
ENOV icon
621
Enovis
ENOV
$1.07B
$595K 0.04%
28,759
+14,947
+108% +$352K
RDW icon
622
Redwire
RDW
$2.63B
$591K 0.04%
48,331
+4,609
+11% +$60.8K
AMCR icon
623
Amcor
AMCR
$20.9B
$591K 0.04%
13,635
+463
+4% +$18.4K
FRSH icon
624
Freshworks
FRSH
$3.32B
$591K 0.04%
58,359
+16,135
+38% +$144K
KVYO icon
625
Klaviyo
KVYO
$5.3B
$585K 0.04%
+38,769
New +$643K
23 24
25
26 27

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Dark Forest Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Dark Forest Capital Management held 1,090 positions worth $1.55B, up 38% from $1.13B the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.

Dark Forest Capital Management deployed $330M of net new capital in Q2 2026, opening 324 new positions and adding to 286 existing holdings. Its largest new stake was iShares MSCI India ETF: 342,603 shares worth $16.9M.

By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 21% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Micron Technology, an estimated $8.82M trimmed.

  • Dark Forest Capital Management's largest Q2 2026 buy was iShares MSCI India ETF: 342,603 shares worth $16.9M.
  • Dark Forest Capital Management added most to EOG Resources in Q2 2026, an estimated $8.97M increase.
  • Dark Forest Capital Management's biggest Q2 2026 reduction was Micron Technology, cutting an estimated $8.82M.
  • Dark Forest Capital Management fully exited Popular Inc in Q2 2026, selling an estimated $11.8M.
  • Dark Forest Capital Management's ten largest holdings make up 7.2% of its $1.55B portfolio in Q2 2026.
  • Dark Forest Capital Management opened 324 new positions and closed 313 in Q2 2026.
  • Dark Forest Capital Management's portfolio value rose 38% quarter-over-quarter to $1.55B.

Based on Dark Forest Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.