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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
+5.34%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$407M
AUM Growth
-$182M
Cap. Flow
-$198M
Cap. Flow %
-48.62%
Top 10 Hldgs %
20.41%
Holding
1,725
New
514
Increased
247
Reduced
247
Closed
619

Top Buys

Rank Stock Value
1
NSTC
Northern Star Investment Corp. III
NSTC
+$5.99M
2
TTC icon
Toro Company
TTC
+$5.07M
3
ACM icon
Aecom
ACM
+$4.77M
4
NSTD
Northern Star Investment Corp. IV
NSTD
+$4.6M
5
MDH
MDH Acquisition Corp.
MDH
+$4.42M

Top Sells

Rank Stock Value
1
ENPC
Executive Network Partnering Corporation
ENPC
+$23.9M
2
ASZ
Austerlitz Acquisition Corporation II
ASZ
+$11.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$8.14M
4
SNRH
Senior Connect Acquisition Corp. I Class A Common Stock
SNRH
+$7.68M
5
AUS
Austerlitz Acquisition Corporation I
AUS
+$6.96M

Sector Composition

Rank Sector Weight
1 Financials 58.86%
2 Healthcare 8.81%
3 Industrials 8.57%
4 Technology 5.6%
5 Energy 5.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SCAQ
51
DELISTED
Stratim Cloud Acquisition Corp. Class A Common Stock
SCAQ
$2.14M 0.53%
+214,284
New +$2.13M
IQMD
52
DELISTED
Intelligent Medicine Acquisition Corp. Class A Common Stock
IQMD
$2.13M 0.52%
+207,060
New +$2.1M
ALSA
53
DELISTED
Alpha Star Acquisition Corp
ALSA
$2.11M 0.52%
205,970
– –
VGAS icon
54
Verde Clean Fuels
VGAS
$30M
$2.11M 0.52%
231,925
– –
TIP icon
55
iShares TIPS Bond ETF
TIP
$14.5B
$2.03M 0.5%
19,049
-76,200
-80% -$8.14M
NE icon
56
Noble Corp
NE
$6.57B
$2.01M 0.49%
53,349
– –
DRAY
57
DELISTED
Macondray Capital Acquisition Corp. I Class A Ordinary Shares
DRAY
$1.98M 0.49%
194,435
– –
TETC
58
DELISTED
Tech and Energy Transition Corporation Class A Common Stock
TETC
$1.97M 0.49%
196,786
+159,455
+427% +$1.58M
AVAC
59
DELISTED
Avalon Acquisition Inc. Class A Common Stock
AVAC
$1.96M 0.48%
191,186
– –
JWAC
60
DELISTED
Jupiter Wellness Acquisition Corp. Class A Common Stock
JWAC
$1.86M 0.46%
177,682
– –
NRAC
61
DELISTED
Northern Revival Acquisition Corporation Class A Ordinary Share
NRAC
$1.83M 0.45%
181,675
– –
SWSS
62
DELISTED
Clean Energy Special Situations Corp. Common stock
SWSS
$1.82M 0.45%
359,830
+271,600
+308% +$1.37M
NVAC
63
DELISTED
NorthView Acquisition Corporation Common Stock
NVAC
$1.81M 0.44%
178,258
– –
PIAI
64
DELISTED
Prime Impact Acquisition I
PIAI
$1.75M 0.43%
170,698
– –
UHG
65
DELISTED
United Homes Group
UHG
$1.73M 0.43%
172,570
+95,000
+122% +$946K
KCGI
66
DELISTED
Kensington Capital Acquisition Corp. V
KCGI
$1.68M 0.41%
165,204
– –
PSQH icon
67
PSQ Holdings
PSQH
$14.2M
$1.68M 0.41%
11,237
+386
+4% +$57K
MBAC
68
DELISTED
M3-Brigade Acquisition II Corp.
MBAC
$1.66M 0.41%
+166,066
New +$1.65M
SRPT icon
69
Sarepta Therapeutics
SRPT
$1.76B
$1.63M 0.4%
12,606
+11,736
+1,349% +$1.36M
SEPA
70
DELISTED
SEP Acquisition Corp Class A Common Stock
SEPA
$1.55M 0.38%
156,121
-23,077
-13% -$231K
KIII
71
DELISTED
Kismet Acquisition Three Corp. Class A Ordinary Shares
KIII
$1.53M 0.38%
152,455
+8,360
+6% +$83.2K
FTPA
72
DELISTED
FTAC Parnassus Acquisition Corp. Class A Common Stock
FTPA
$1.52M 0.37%
+151,821
New +$1.51M
FTII
73
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
$1.51M 0.37%
+147,429
New +$1.49M
BX icon
74
Blackstone
BX
$107B
$1.5M 0.37%
20,172
+9,663
+92% +$834K
AVHI
75
DELISTED
Achari Ventures Holdings Corp I
AVHI
$1.43M 0.35%
139,702
+6,592
+5% +$66.8K
1 2
3
4 5

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Dark Forest Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Dark Forest Capital Management held 1,725 positions worth $407M, down 31% from $589M the previous quarter. Its ten largest holdings account for 20% of the portfolio.

Dark Forest Capital Management withdrew a net $198M in Q4 2022, closing 619 positions and reducing 247 holdings. Its most notable exit was Executive Network Partnering Corporation, an estimated $23.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 59% of assets, up from 55% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Dark Forest Capital Management opened a new position in Toro Company worth $5.42M.

  • Dark Forest Capital Management's largest Q4 2022 buy was Toro Company: 47,868 shares worth $5.42M.
  • Dark Forest Capital Management added most to Northern Star Investment Corp. III in Q4 2022, an estimated $5.99M increase.
  • Dark Forest Capital Management's biggest Q4 2022 reduction was iShares TIPS Bond ETF, cutting an estimated $8.14M.
  • Dark Forest Capital Management fully exited Executive Network Partnering Corporation in Q4 2022, selling an estimated $23.9M.
  • Dark Forest Capital Management's ten largest holdings make up 20% of its $407M portfolio in Q4 2022.
  • Dark Forest Capital Management opened 514 new positions and closed 619 in Q4 2022.
  • Dark Forest Capital Management's portfolio value fell 31% quarter-over-quarter to $407M.

Based on Dark Forest Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.