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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
HHH icon
51
Howard Hughes
HHH
$3.92B
$1.96M 0.29%
25,443
-391
-2% -$31.1K
ISRG icon
52
Intuitive Surgical
ISRG
$133B
$1.86M 0.27%
3,566
+1,874
+111% +$976K
TEL icon
53
TE Connectivity
TEL
$63.1B
$1.84M 0.27%
12,895
+10,873
+538% +$1.62M
ARES icon
54
Ares Management
ARES
$31.5B
$1.84M 0.27%
+10,407
New +$1.78M
ESI icon
55
Element Solutions
ESI
$9.34B
$1.84M 0.27%
72,168
+25,842
+56% +$699K
LII icon
56
Lennox International
LII
$15.4B
$1.82M 0.27%
2,987
+2,637
+753% +$1.65M
MTUM icon
57
iShares MSCI USA Momentum Factor ETF
MTUM
$26.3B
$1.81M 0.27%
8,765
+4,060
+86% +$851K
MGRC icon
58
McGrath RentCorp
MGRC
$2.96B
$1.79M 0.26%
+16,030
New +$1.84M
OKTA icon
59
Okta
OKTA
$25.6B
$1.76M 0.26%
22,324
-21,807
-49% -$1.69M
SIGI icon
60
Selective Insurance
SIGI
$5.76B
$1.75M 0.26%
18,757
+15,977
+575% +$1.53M
CTRE icon
61
CareTrust REIT
CTRE
$9.65B
$1.74M 0.26%
+64,479
New +$1.93M
BNL icon
62
Broadstone Net Lease
BNL
$4.07B
$1.73M 0.25%
108,821
-102,925
-49% -$1.79M
HWC icon
63
Hancock Whitney
HWC
$6.3B
$1.71M 0.25%
+31,310
New +$1.73M
EMB icon
64
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.7B
$1.7M 0.25%
19,141
+3,143
+20% +$287K
BSX icon
65
Boston Scientific
BSX
$69.2B
$1.62M 0.24%
18,100
+1,797
+11% +$158K
APAM icon
66
Artisan Partners
APAM
$3.04B
$1.62M 0.24%
37,534
+32,518
+648% +$1.49M
GTY
67
Getty Realty Corp
GTY
$2.08B
$1.61M 0.24%
+53,601
New +$1.7M
APO icon
68
Apollo Global Management
APO
$74.7B
$1.61M 0.24%
9,725
-97,421
-91% -$15.4M
ORI icon
69
Old Republic International
ORI
$10.5B
$1.59M 0.24%
44,059
+30,315
+221% +$1.11M
C icon
70
Citigroup
C
$231B
$1.59M 0.23%
22,595
+4,634
+26% +$312K
KDP icon
71
Keurig Dr Pepper
KDP
$41.8B
$1.59M 0.23%
49,453
+40,647
+462% +$1.38M
VTV icon
72
Vanguard Morningstar Value ETF
VTV
$191B
$1.58M 0.23%
9,310
+3,055
+49% +$536K
TSN icon
73
Tyson Foods
TSN
$20.5B
$1.56M 0.23%
27,077
+20,872
+336% +$1.26M
GEF icon
74
Greif
GEF
$5.12B
$1.54M 0.23%
25,210
+8,227
+48% +$537K
AXS icon
75
AXIS Capital
AXS
$7.61B
$1.54M 0.23%
17,324
+5,095
+42% +$436K
1 2
3
4 5

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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.