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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MCRI icon
626
Monarch Casino & Resort
MCRI
$2.23B
$325K 0.05%
+4,122
New +$332K
CTKB icon
627
Cytek Biosciences
CTKB
$546M
$324K 0.05%
+49,847
New +$297K
FOR icon
628
Forestar Group
FOR
$1.51B
$323K 0.05%
+12,459
New +$373K
GPRE icon
629
Green Plains
GPRE
$1.03B
$323K 0.05%
+34,065
New +$384K
FR icon
630
First Industrial Realty Trust
FR
$8.44B
$321K 0.05%
+6,403
New +$340K
GH icon
631
Guardant Health
GH
$22.6B
$321K 0.05%
+10,495
New +$295K
NAVI icon
632
Navient
NAVI
$853M
$321K 0.05%
+24,118
New +$361K
CALX icon
633
Calix
CALX
$2.39B
$320K 0.05%
+9,190
New +$324K
XPRO icon
634
Expro Ltd
XPRO
$1.91B
$319K 0.05%
+25,564
New +$356K
TNET icon
635
TriNet
TNET
$3.14B
$318K 0.05%
3,508
-29,139
-89% -$2.69M
NEOG icon
636
Neogen
NEOG
$2.5B
$318K 0.05%
+26,220
New +$367K
MCW
637
DELISTED
Mister Car Wash
MCW
$318K 0.05%
+43,619
New +$319K
LPG icon
638
Dorian LPG
LPG
$1.96B
$318K 0.05%
13,044
+3,561
+38% +$99.6K
ERIE icon
639
Erie Indemnity
ERIE
$13.2B
$317K 0.05%
+769
New +$344K
ESNT icon
640
Essent Group
ESNT
$6.33B
$317K 0.05%
5,820
+76
+1% +$4.41K
VTI icon
641
Vanguard Morningstar Total Stock Market ETF
VTI
$684B
$315K 0.05%
+1,088
New +$317K
JEF icon
642
Jefferies Financial Group
JEF
$13.1B
$315K 0.05%
+4,016
New +$289K
MAX icon
643
MediaAlpha
MAX
$821M
$315K 0.05%
+27,872
New +$401K
UDMY
644
DELISTED
Udemy
UDMY
$314K 0.05%
+38,213
New +$308K
IRDM icon
645
Iridium Communications
IRDM
$5.29B
$314K 0.05%
10,813
-5,873
-35% -$175K
STNG icon
646
Scorpio Tankers
STNG
$3.81B
$313K 0.05%
+6,308
New +$360K
MRTN icon
647
Marten Transport
MRTN
$1.22B
$312K 0.05%
+20,014
New +$333K
HG icon
648
Hamilton Insurance Group
HG
$3.56B
$311K 0.05%
+16,348
New +$302K
QNST icon
649
QuinStreet
QNST
$1.21B
$311K 0.05%
+13,468
New +$283K
RGA icon
650
Reinsurance Group of America
RGA
$16.1B
$311K 0.05%
+1,454
New +$317K
24 25
26
27 28

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AT
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OHIF
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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.