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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
Cap. Flow
+$1.68B
Cap. Flow %
76.49%
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$27.3M
2
CRH icon
CRH
CRH
+$12.6M
3
MSFT icon
Microsoft
MSFT
+$12.2M
4
AMCR icon
Amcor
AMCR
+$12.2M
5
LIVN icon
LivaNova
LIVN
+$11.2M

Top Sells

Rank Stock Value
1
TTD icon
Trade Desk
TTD
+$9.58M
2
APP icon
Applovin
APP
+$6.9M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$5M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$4.89M
5
GWRE icon
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
ARR
51
Armour Residential REIT
ARR
$2.36B
$5.6M 0.25%
327,460
+299,336
+1,064% +$5.58M
HUN icon
52
Huntsman Corp
HUN
$1.77B
$5.57M 0.25%
352,907
+316,147
+860% +$5.37M
IDCC icon
53
InterDigital
IDCC
$8.89B
$5.55M 0.25%
+26,831
New +$5.4M
GATX icon
54
GATX Corp
GATX
$6.27B
$5.54M 0.25%
+35,704
New +$5.69M
ANET icon
55
Arista Networks
ANET
$238B
$5.5M 0.25%
+71,018
New +$7.2M
C icon
56
Citigroup
C
$226B
$5.45M 0.25%
76,709
+54,114
+239% +$4.13M
BSY icon
57
Bentley Systems
BSY
$10.7B
$5.37M 0.24%
136,550
+74,690
+121% +$3.33M
KNX icon
58
Knight Transportation
KNX
$11.4B
$5.36M 0.24%
+123,299
New +$6.36M
MS icon
59
Morgan Stanley
MS
$340B
$5.35M 0.24%
45,824
+43,618
+1,977% +$5.62M
EHC icon
60
Encompass Health
EHC
$12.4B
$5.26M 0.24%
51,981
+44,676
+612% +$4.36M
RRR icon
61
Red Rock Resorts
RRR
$3.62B
$5.26M 0.24%
121,228
+104,030
+605% +$4.92M
PNR icon
62
Pentair
PNR
$11B
$5.22M 0.24%
+59,694
New +$5.69M
DIOD icon
63
Diodes
DIOD
$4.84B
$5.21M 0.24%
+120,770
New +$6.52M
BX icon
64
Blackstone
BX
$110B
$5.21M 0.24%
+37,297
New +$6.05M
NFG icon
65
National Fuel Gas
NFG
$7.65B
$5.21M 0.24%
65,735
+61,983
+1,652% +$4.46M
ROKU icon
66
Roku
ROKU
$22.7B
$5.17M 0.24%
73,423
+70,107
+2,114% +$5.61M
LCII icon
67
LCI Industries
LCII
$2.65B
$5.17M 0.23%
59,111
+51,643
+692% +$5.19M
CDP icon
68
COPT Defense Properties
CDP
$4.21B
$5.16M 0.23%
+189,389
New +$5.34M
DTE icon
69
DTE Energy
DTE
$29.1B
$5.14M 0.23%
37,184
+27,617
+289% +$3.52M
KLIC icon
70
Kulicke & Soffa
KLIC
$4.78B
$5.12M 0.23%
+155,331
New +$6.37M
FOLD
71
DELISTED
Amicus Therapeutics
FOLD
$5.11M 0.23%
626,837
+588,689
+1,543% +$5.45M
WERN icon
72
Werner Enterprises
WERN
$2.25B
$5.01M 0.23%
171,129
+153,400
+865% +$5.15M
CRDO icon
73
Credo Technology Group
CRDO
$46.6B
$4.96M 0.23%
+123,558
New +$7.68M
VST icon
74
Vistra
VST
$47.4B
$4.96M 0.23%
42,205
+33,081
+363% +$4.94M
KGS icon
75
Kodiak Gas Services
KGS
$6.05B
$4.95M 0.23%
132,837
+68,932
+108% +$2.94M
1 2
3
4 5

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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.