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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
-5.08%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.2B
AUM Growth
+$1.52B
(+225%)
Cap. Flow
+$1.68B
Cap. Flow
% of AUM
76.49%
Top 10 Holdings %
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cheniere Energy
LNG
|
+$27.3M |
| 2 |
CRH
CRH
|
+$12.6M |
| 3 |
Microsoft
MSFT
|
+$12.2M |
| 4 |
Amcor
AMCR
|
+$12.2M |
| 5 |
LivaNova
LIVN
|
+$11.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Trade Desk
TTD
|
+$9.58M |
| 2 |
Applovin
APP
|
+$6.9M |
| 3 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$5M |
| 4 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$4.89M |
| 5 |
Guidewire Software
GWRE
|
+$4.75M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.4% |
| 2 | Industrials | 14.7% |
| 3 | Technology | 12.79% |
| 4 | Consumer Discretionary | 11.74% |
| 5 | Healthcare | 9.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
626
Chemed
CHE
$7.22B
| $1.14M | 0.05% |
+1,846
| New | +$1.05M |
|
|
PLYM
627
DELISTED
Plymouth Industrial REIT
PLYM
| $1.14M | 0.05% |
+69,667
| New | +$1.18M |
|
628
Avista
AVA
$3.24B
| $1.13M | 0.05% |
+27,104
| New | +$1.03M |
|
629
Dyne Therapeutics
DYN
$4.9B
| $1.13M | 0.05% |
+108,374
| New | +$1.55M |
|
630
MarineMax
HZO
$788M
| $1.13M | 0.05% |
+52,545
| New | +$1.4M |
|
631
Tetra Tech
TTEK
$9.07B
| $1.12M | 0.05% |
+38,357
| New | +$1.29M |
|
632
Preferred Bank
PFBC
$1.25B
| $1.12M | 0.05% |
13,401
+10,017
| +296% | +$868K |
|
633
Pebblebrook Hotel Trust
PEB
$2.05B
| $1.12M | 0.05% |
+110,629
| New | +$1.35M |
|
634
Guardant Health
GH
$22.6B
| $1.12M | 0.05% |
26,304
+15,809
| +151% | +$682K |
|
635
DoubleVerify
DV
$2.03B
| $1.12M | 0.05% |
+83,750
| New | +$1.55M |
|
636
Lear
LEA
$8.18B
| $1.12M | 0.05% |
+12,686
| New | +$1.2M |
|
637
NerdWallet
NRDS
$652M
| $1.12M | 0.05% |
+123,493
| New | +$1.48M |
|
638
Jack Henry & Associates
JKHY
$11.1B
| $1.12M | 0.05% |
6,114
+4,698
| +332% | +$820K |
|
639
Apogee Therapeutics
APGE
$10.2B
| $1.12M | 0.05% |
+29,871
| New | +$1.15M |
|
640
Expedia Group
EXPE
$37.3B
| $1.11M | 0.05% |
+6,621
| New | +$1.21M |
|
|
HAPN
641
Happen Inc
HAPN
$2.24B
| $1.11M | 0.05% |
+107,760
| New | +$1.45M |
|
642
ZipRecruiter
ZIP
$423M
| $1.11M | 0.05% |
188,786
+167,562
| +789% | +$1.12M |
|
|
DVAX
643
DELISTED
Dynavax Technologies
DVAX
| $1.11M | 0.05% |
+85,503
| New | +$1.13M |
|
644
Scorpio Tankers
STNG
$3.81B
| $1.11M | 0.05% |
29,453
+23,145
| +367% | +$1.04M |
|
645
Ryan Specialty Holdings
RYAN
$11B
| $1.11M | 0.05% |
+14,975
| New | +$1.02M |
|
646
Wingstop
WING
$3.18B
| $1.11M | 0.05% |
4,903
+4,052
| +476% | +$1.05M |
|
647
Zillow
ZG
$7.63B
| $1.11M | 0.05% |
16,531
+149
| +0.9% | +$11K |
|
648
Denali Therapeutics
DNLI
$3.97B
| $1.1M | 0.05% |
80,820
+67,932
| +527% | +$1.3M |
|
649
AvePoint
AVPT
$2.71B
| $1.1M | 0.05% |
75,917
+61,548
| +428% | +$1.03M |
|
650
i3 Verticals
IIIV
$342M
| $1.09M | 0.05% |
44,353
+31,088
| +234% | +$788K |
|
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Dark Forest Capital Management's Q1 2025 Portfolio in Review
As of Q1 2025, Dark Forest Capital Management held 1,491 positions worth $2.2B, up 225% from $678M the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.
Dark Forest Capital Management deployed $1.68B of net new capital in Q1 2025, opening 604 new positions and adding to 497 existing holdings. Its largest new stake was Palo Alto Networks: 55,911 shares worth $9.54M.
By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was Applovin, an estimated $6.9M trimmed.
- Dark Forest Capital Management's largest Q1 2025 buy was Palo Alto Networks: 55,911 shares worth $9.54M.
- Dark Forest Capital Management added most to Cheniere Energy in Q1 2025, an estimated $27.3M increase.
- Dark Forest Capital Management's biggest Q1 2025 reduction was Applovin, cutting an estimated $6.9M.
- Dark Forest Capital Management fully exited Trade Desk in Q1 2025, selling an estimated $9.58M.
- Dark Forest Capital Management's ten largest holdings make up 7.2% of its $2.2B portfolio in Q1 2025.
- Dark Forest Capital Management opened 604 new positions and closed 295 in Q1 2025.
- Dark Forest Capital Management's portfolio value rose 225% quarter-over-quarter to $2.2B.
Based on Dark Forest Capital Management's 13F filing for Q1 2025, filed 15 May 2025.