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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
LivaNova
LIVN
+$9.42M

Sector Composition

Rank Sector Weight
1 Financials 17.68%
2 Technology 15.03%
3 Industrials 14.39%
4 Consumer Discretionary 11.22%
5 Healthcare 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOGO icon
676
Gogo Inc
GOGO
$491M
$1.2M 0.05%
81,944
+61,096
+293% +$622K
EW icon
677
Edwards Lifesciences
EW
$51.7B
$1.2M 0.05%
+15,371
New +$1.15M
YEXT icon
678
Yext
YEXT
$574M
$1.2M 0.05%
141,277
+11,324
+9% +$79.4K
AAMI
679
Acadian Asset Management
AAMI
$3.2B
$1.2M 0.05%
34,043
-20,089
-37% -$584K
ASH icon
680
Ashland
ASH
$3.5B
$1.2M 0.05%
23,854
+20,024
+523% +$1.02M
PFS icon
681
Provident Financial Services
PFS
$3.19B
$1.2M 0.05%
68,305
-6,879
-9% -$114K
MGNI icon
682
Magnite
MGNI
$3.55B
$1.19M 0.05%
49,304
-124,560
-72% -$1.84M
AMAL icon
683
Amalgamated Financial
AMAL
$1.49B
$1.18M 0.05%
37,957
+19,486
+105% +$571K
TPH
684
DELISTED
Tri Pointe Homes
TPH
$1.18M 0.05%
37,016
+27,765
+300% +$852K
MBIN icon
685
Merchants Bancorp
MBIN
$2.49B
$1.18M 0.05%
35,680
+4,938
+16% +$160K
SEM
686
DELISTED
Select Medical
SEM
$1.18M 0.05%
77,418
+62,776
+429% +$979K
HAE icon
687
Haemonetics
HAE
$4B
$1.17M 0.05%
+15,696
New +$1.04M
EXPE icon
688
Expedia Group
EXPE
$37.3B
$1.17M 0.05%
6,934
+313
+5% +$50.8K
LNTH icon
689
Lantheus
LNTH
$6.59B
$1.16M 0.05%
+14,221
New +$1.25M
LEN icon
690
Lennar Class A
LEN
$21.2B
$1.16M 0.05%
+10,478
New +$1.14M
HNI icon
691
HNI Corp
HNI
$3.59B
$1.15M 0.05%
+23,458
New +$1.06M
FRSH icon
692
Freshworks
FRSH
$3.27B
$1.15M 0.05%
77,323
+16,427
+27% +$237K
AN icon
693
AutoNation
AN
$6.92B
$1.14M 0.05%
+5,729
New +$1.03M
TNDM icon
694
Tandem Diabetes Care
TNDM
$1.53B
$1.14M 0.05%
61,002
-9,126
-13% -$181K
DAVE icon
695
Dave Inc
DAVE
$4.06B
$1.14M 0.05%
4,234
+1,781
+73% +$281K
VTR icon
696
Ventas
VTR
$47.9B
$1.14M 0.05%
17,980
-31,785
-64% -$2.08M
KYMR icon
697
Kymera Therapeutics
KYMR
$8.94B
$1.13M 0.05%
25,950
-28,204
-52% -$971K
ZG icon
698
Zillow
ZG
$7.63B
$1.13M 0.05%
16,505
-26
-0.2% -$1.72K
FSLR icon
699
First Solar
FSLR
$26.9B
$1.12M 0.04%
+6,792
New +$1M
WTTR icon
700
Select Water Solutions
WTTR
$2.8B
$1.12M 0.04%
+129,759
New +$1.12M
26 27
28
29 30

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Dark Forest Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.

Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.

  • Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
  • Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
  • Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
  • Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
  • Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
  • Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
  • Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.