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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
GPC icon
51
Genuine Parts
GPC
$17.7B
$6.75M 0.27%
55,640
+8,424
+18% +$1.01M
AVA icon
52
Avista
AVA
$3.31B
$6.71M 0.27%
176,681
+149,577
+552% +$5.9M
KGS icon
53
Kodiak Gas Services
KGS
$5.86B
$6.69M 0.27%
195,260
+62,423
+47% +$2.16M
SCHW
54
Charles Schwab
SCHW
$184B
$6.68M 0.27%
+73,208
New +$6.13M
INTU icon
55
Intuit
INTU
$87.1B
$6.57M 0.26%
+8,342
New +$5.65M
RGLD icon
56
Royal Gold
RGLD
$17.1B
$6.54M 0.26%
36,786
-6,248
-15% -$1.11M
NFLX icon
57
Netflix
NFLX
$305B
$6.53M 0.26%
48,740
+32,510
+200% +$3.68M
PB icon
58
Prosperity Bancshares
PB
$9.02B
$6.52M 0.26%
92,773
+44,037
+90% +$3.03M
AOS icon
59
A.O. Smith
AOS
$8.25B
$6.46M 0.26%
+98,529
New +$6.45M
GLPI icon
60
Gaming and Leisure Properties
GLPI
$12.7B
$6.39M 0.25%
+136,784
New +$6.46M
CLH icon
61
Clean Harbors
CLH
$16.4B
$6.34M 0.25%
27,403
-3,206
-10% -$702K
AYI icon
62
Acuity Brands
AYI
$10B
$6.31M 0.25%
21,161
+13,207
+166% +$3.42M
APD icon
63
Air Products & Chemicals
APD
$65.2B
$6.18M 0.25%
+21,905
New +$5.99M
ZION icon
64
Zions Bancorporation
ZION
$10.3B
$6.16M 0.25%
118,687
+58,125
+96% +$2.73M
BSY icon
65
Bentley Systems
BSY
$10.9B
$6.14M 0.24%
113,827
-22,723
-17% -$1.05M
MTG icon
66
MGIC Investment
MTG
$6.27B
$6.12M 0.24%
219,732
+105,944
+93% +$2.73M
MKL icon
67
Markel Group
MKL
$23.3B
$6.07M 0.24%
3,038
+2,803
+1,193% +$5.26M
HWM icon
68
Howmet Aerospace
HWM
$115B
$6.03M 0.24%
32,370
-1,417
-4% -$218K
C icon
69
Citigroup
C
$224B
$6M 0.24%
70,508
-6,201
-8% -$448K
SSD icon
70
Simpson Manufacturing
SSD
$7.91B
$6M 0.24%
38,629
+8,799
+29% +$1.36M
KMX icon
71
CarMax
KMX
$8.29B
$5.99M 0.24%
89,145
+69,054
+344% +$4.64M
BKH icon
72
Black Hills Corp
BKH
$5.42B
$5.96M 0.24%
+106,273
New +$6.22M
PPC icon
73
Pilgrim's Pride
PPC
$6.65B
$5.96M 0.24%
132,487
+69,567
+111% +$3.41M
SANM icon
74
Sanmina
SANM
$10.4B
$5.93M 0.24%
60,613
+9,558
+19% +$790K
SIGI icon
75
Selective Insurance
SIGI
$5.69B
$5.93M 0.24%
68,431
+31,644
+86% +$2.77M
1 2
3
4 5

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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.