We are live on ! Find out more
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
+2.94%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.19B
AUM Growth
-$467M
Cap. Flow
-$490M
Cap. Flow %
-22.36%
Top 10 Hldgs %
6.98%
Holding
1,430
New
319
Increased
285
Reduced
326
Closed
499

Top Buys

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$24.8M
2
TOST icon
Toast
TOST
+$12.4M
3
VICI icon
VICI Properties
VICI
+$8.48M
4
NEE icon
NextEra Energy
NEE
+$8.18M
5
CVX icon
Chevron
CVX
+$7.94M

Top Sells

Rank Stock Value
1
BAH icon
Booz Allen Hamilton
BAH
+$15M
2
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$14.9M
3
GS icon
Goldman Sachs
GS
+$14.7M
4
L icon
Loews
L
+$13.6M
5
INDA icon
iShares MSCI India ETF
INDA
+$13.5M

Sector Composition

Rank Sector Weight
1 Financials 17.75%
2 Industrials 14.65%
3 Technology 14.45%
4 Consumer Discretionary 10.89%
5 Healthcare 9.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EZPW icon
776
Ezcorp Inc
EZPW
$1.71B
$611K 0.03%
31,444
-17,554
-36% -$331K
HRI icon
777
Herc Holdings
HRI
$5.61B
$610K 0.03%
4,111
-5,892
-59% -$808K
OSW icon
778
OneSpaWorld
OSW
$2.66B
$609K 0.03%
+29,356
New +$615K
ENPH icon
779
Enphase Energy
ENPH
$5.53B
$609K 0.03%
18,995
+3,133
+20% +$101K
NKE icon
780
Nike
NKE
$61.9B
$600K 0.03%
9,416
-14,292
-60% -$932K
AIV
781
Aimco
AIV
$383M
$595K 0.03%
+100,210
New +$600K
PRIM icon
782
Primoris Services
PRIM
$4.45B
$594K 0.03%
4,785
-19,272
-80% -$2.52M
OLLI icon
783
Ollie's Bargain Outlet
OLLI
$4.94B
$589K 0.03%
5,376
-8,640
-62% -$1.04M
THS
784
DELISTED
Treehouse Foods
THS
$582K 0.03%
24,692
-179,121
-88% -$3.91M
LQDT icon
785
Liquidity Services
LQDT
$1.32B
$577K 0.03%
19,034
+7,657
+67% +$206K
WWD icon
786
Woodward
WWD
$21.4B
$577K 0.03%
1,907
-6,932
-78% -$1.91M
RHP icon
787
Ryman Hospitality Properties
RHP
$7.63B
$575K 0.03%
6,075
-3,416
-36% -$316K
FOX icon
788
Fox Class B
FOX
$23.9B
$571K 0.03%
8,800
+34
+0.4% +$1.99K
MET icon
789
MetLife
MET
$62.1B
$570K 0.03%
7,224
-16,386
-69% -$1.3M
TSCO icon
790
Tractor Supply
TSCO
$18B
$569K 0.03%
11,373
-128,833
-92% -$6.94M
EE icon
791
Excelerate Energy
EE
$1.11B
$569K 0.03%
20,273
-20,088
-50% -$544K
AVPT icon
792
AvePoint
AVPT
$2.71B
$568K 0.03%
+40,903
New +$565K
AMPX icon
793
Amprius Technologies
AMPX
$1.73B
$567K 0.03%
71,885
+51,752
+257% +$592K
BBWI icon
794
Bath & Body Works
BBWI
$4.1B
$567K 0.03%
28,231
-73,431
-72% -$1.62M
SBCF icon
795
Seacoast Banking Corp of Florida
SBCF
$3.35B
$566K 0.03%
18,020
-36,298
-67% -$1.13M
OTIS icon
796
Otis Worldwide
OTIS
$28.2B
$565K 0.03%
6,470
-9,207
-59% -$824K
CRCL
797
Circle Internet Group
CRCL
$16.9B
$562K 0.03%
+7,087
New +$732K
APOG icon
798
Apogee Enterprises
APOG
$908M
$559K 0.03%
15,357
-7,436
-33% -$281K
MNKD icon
799
MannKind Corp
MNKD
$1.32B
$558K 0.03%
98,402
+85,275
+650% +$470K
LSTR icon
800
Landstar System
LSTR
$6.21B
$557K 0.03%
3,878
-4,190
-52% -$558K
30 31
32
33 34

Similar funds

PL
Parkwood LLC Cleveland, Ohio $1.13B AUM 32.89% 1-Year Est. Return
AT
American Trust Lexington, Kentucky $1.13B AUM 17.56% 1-Year Est. Return
WM
WS Management Jacksonville, Florida $1.13B AUM 53.44% 1-Year Est. Return
OHIF
Oriental Harbor Investment Fund Hong Kong $1.13B AUM 70.63% 1-Year Est. Return
HMCP
Hook Mill Capital Partners New York $1.13B AUM 31.32% 1-Year Est. Return
C
Chescapmanager Baltimore, Maryland $1.12B AUM 67.49% 1-Year Est. Return
ACM
Alua Capital Management New York $1.13B AUM 8.41% 1-Year Est. Return
CNC
Canandaigua National Corp Canandaigua, New York $1.12B AUM

Dark Forest Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Dark Forest Capital Management held 1,430 positions worth $2.19B, down 18% from $2.66B the previous quarter. Its ten largest holdings account for 7% of the portfolio.

Dark Forest Capital Management withdrew a net $490M in Q4 2025, closing 499 positions and reducing 326 holdings. Its most notable exit was Booz Allen Hamilton, an estimated $15M position sold in full.

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

Against the trend, Dark Forest Capital Management opened a new position in VICI Properties worth $8.03M.

  • Dark Forest Capital Management's largest Q4 2025 buy was VICI Properties: 285,590 shares worth $8.03M.
  • Dark Forest Capital Management added most to iShares MSCI Emerging Markets ETF in Q4 2025, an estimated $24.8M increase.
  • Dark Forest Capital Management's biggest Q4 2025 reduction was iShares MSCI Brazil ETF, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Booz Allen Hamilton in Q4 2025, selling an estimated $15M.
  • Dark Forest Capital Management's ten largest holdings make up 7% of its $2.19B portfolio in Q4 2025.
  • Dark Forest Capital Management opened 319 new positions and closed 499 in Q4 2025.
  • Dark Forest Capital Management's portfolio value fell 18% quarter-over-quarter to $2.19B.

Based on Dark Forest Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.