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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
ADPT icon
651
Adaptive Biotechnologies
ADPT
$3.97B
$310K 0.05%
+51,694
New +$285K
SPOT icon
652
Spotify
SPOT
$100B
$310K 0.05%
+692
New +$296K
FYBR
653
DELISTED
Frontier Communications
FYBR
$309K 0.05%
+8,905
New +$312K
MIRM icon
654
Mirum Pharmaceuticals
MIRM
$6.14B
$308K 0.05%
+7,460
New +$311K
MRVL icon
655
Marvell Technology
MRVL
$196B
$308K 0.05%
2,788
-1,642
-37% -$152K
VRTS icon
656
Virtus Investment Partners
VRTS
$1.1B
$308K 0.05%
1,396
-1,628
-54% -$371K
EEFT icon
657
Euronet Worldwide
EEFT
$2.7B
$308K 0.05%
+2,993
New +$305K
EXE
658
Expand Energy Corp
EXE
$21.5B
$307K 0.05%
+3,088
New +$285K
KSS icon
659
Kohl's
KSS
$2.19B
$307K 0.05%
+21,876
New +$377K
VISN
660
Vistance Networks Inc
VISN
$2.52B
$307K 0.05%
58,897
-29,903
-34% -$167K
DVA icon
661
DaVita
DVA
$11.7B
$306K 0.05%
2,049
-1,510
-42% -$237K
PDFS icon
662
PDF Solutions
PDFS
$2.07B
$306K 0.05%
+11,314
New +$341K
NCNO icon
663
nCino
NCNO
$2.1B
$306K 0.05%
+9,114
New +$339K
IIIV icon
664
i3 Verticals
IIIV
$342M
$306K 0.05%
+13,265
New +$311K
PRGO icon
665
Perrigo
PRGO
$1.78B
$302K 0.04%
11,752
+2,573
+28% +$67.6K
F icon
666
Ford
F
$55.7B
$301K 0.04%
30,432
-7,570
-20% -$80.7K
KREF
667
KKR Real Estate Finance Trust
KREF
$499M
$301K 0.04%
+29,768
New +$341K
WVE icon
668
Wave Life Sciences
WVE
$1.2B
$299K 0.04%
+24,151
New +$322K
ITW icon
669
Illinois Tool Works
ITW
$84.5B
$298K 0.04%
1,177
-1,672
-59% -$444K
TDC icon
670
Teradata
TDC
$2.55B
$298K 0.04%
+9,552
New +$299K
KBH icon
671
KB Home
KBH
$3.59B
$297K 0.04%
+4,514
New +$351K
OHI icon
672
Omega Healthcare
OHI
$14.7B
$295K 0.04%
7,791
-170
-2% -$6.79K
NSA
673
DELISTED
National Storage Affiliates Trust
NSA
$294K 0.04%
+7,758
New +$332K
CVBF icon
674
CVB Financial
CVBF
$3.99B
$294K 0.04%
13,711
+2,236
+19% +$47.3K
SKWD icon
675
Skyward Specialty Insurance
SKWD
$2.58B
$293K 0.04%
5,803
-18,817
-76% -$914K
25 26
27
28 29

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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.