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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
-0.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$1.13B
AUM Growth
-$1.06B
(-49%)
Cap. Flow
-$1.04B
Cap. Flow
% of AUM
-92.28%
Top 10 Holdings %
Top 10 Hldgs %
8.34%
Holding
1,215
New
284
Increased
139
Reduced
338
Closed
449
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Coeur Mining
CDE
|
+$11.4M |
| 2 |
TPG
TPG
|
+$9.58M |
| 3 |
SoFi Technologies
SOFI
|
+$7.05M |
| 4 |
Liberty Media Series C
FWONK
|
+$6.49M |
| 5 |
Zillow
Z
|
+$6.11M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$30.9M |
| 2 |
Walmart Inc
WMT
|
+$15.7M |
| 3 |
Chevron
CVX
|
+$15M |
| 4 |
Simon Property Group
SPG
|
+$12.5M |
| 5 |
Dutch Bros
BROS
|
+$9.95M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.03% |
| 2 | Technology | 15.44% |
| 3 | Industrials | 15.31% |
| 4 | Consumer Discretionary | 12.17% |
| 5 | Healthcare | 9.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
801
A10 Networks
ATEN
$2.6B
| – | – |
-74,366
| Closed | -$1.32M |
|
802
Aurinia Pharmaceuticals
AUPH
$2.01B
| – | – |
-56,035
| Closed | -$894K |
|
|
AVDL
803
DELISTED
Avadel Pharmaceuticals
AVDL
| – | – |
-25,397
| Closed | -$547K |
|
804
Broadcom
AVGO
$1.81T
| – | – |
-22,149
| Closed | -$7.67M |
|
805
Avient
AVNT
$3.38B
| – | – |
-46,845
| Closed | -$1.46M |
|
806
American Water Works
AWK
$25.9B
| – | – |
-30,167
| Closed | -$3.94M |
|
807
American Express
AXP
$238B
| – | – |
-12,458
| Closed | -$4.61M |
|
808
AZZ Inc
AZZ
$4.51B
| – | – |
-6,009
| Closed | -$644K |
|
809
Bank of America
BAC
$432B
| – | – |
-58,064
| Closed | -$3.19M |
|
810
BancFirst
BANF
$3.88B
| – | – |
-28,926
| Closed | -$3.07M |
|
811
Atlanta Braves Holdings Series B
BATRK
$3.25B
| – | – |
-5,198
| Closed | -$205K |
|
812
BigBear.ai
BBAI
$1.4B
| – | – |
-87,985
| Closed | -$475K |
|
813
Best Buy
BBY
$18.1B
| – | – |
-39,160
| Closed | -$2.62M |
|
814
Brink's
BCO
$5.12B
| – | – |
-13,048
| Closed | -$1.52M |
|
815
Belden
BDC
$3.97B
| – | – |
-3,217
| Closed | -$375K |
|
816
BGC Group
BGC
$5.45B
| – | – |
-85,108
| Closed | -$760K |
|
817
Benchmark Electronics
BHE
$2.97B
| – | – |
-33,298
| Closed | -$1.42M |
|
818
Brighthouse Financial
BHF
$3.66B
| – | – |
-3,269
| Closed | -$212K |
|
819
Birkenstock
BIRK
$7.67B
| – | – |
-21,535
| Closed | -$881K |
|
820
Bankunited
BKU
$3.34B
| – | – |
-28,542
| Closed | -$1.27M |
|
821
BlackLine
BL
$1.72B
| – | – |
-19,408
| Closed | -$1.07M |
|
822
Brady Corp
BRC
$4.43B
| – | – |
-5,639
| Closed | -$442K |
|
|
823
Dutch Bros
BROS
$9.07B
| – | – |
-162,584
| Closed | -$9.95M |
|
824
Peabody Energy
BTU
$2.84B
| – | – |
-20,850
| Closed | -$619K |
|
825
Burlington
BURL
$22.3B
| – | – |
-1,808
| Closed | -$522K |
|
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Dark Forest Capital Management's Q1 2026 Portfolio in Review
As of Q1 2026, Dark Forest Capital Management held 1,215 positions worth $1.13B, down 49% from $2.19B the previous quarter. Its ten largest holdings account for 8.3% of the portfolio.
Dark Forest Capital Management withdrew a net $1.04B in Q1 2026, closing 449 positions and reducing 338 holdings. Its most notable exit was Chevron, an estimated $15M position sold in full.
By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 18% a quarter earlier, followed by Technology and Industrials.
Against the trend, Dark Forest Capital Management opened a new position in Liberty Media Series C worth $6.31M.
- Dark Forest Capital Management's largest Q1 2026 buy was Liberty Media Series C: 74,238 shares worth $6.31M.
- Dark Forest Capital Management added most to Coeur Mining in Q1 2026, an estimated $11.4M increase.
- Dark Forest Capital Management's biggest Q1 2026 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $30.9M.
- Dark Forest Capital Management fully exited Chevron in Q1 2026, selling an estimated $15M.
- Dark Forest Capital Management's ten largest holdings make up 8.3% of its $1.13B portfolio in Q1 2026.
- Dark Forest Capital Management opened 284 new positions and closed 449 in Q1 2026.
- Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $1.13B.
Based on Dark Forest Capital Management's 13F filing for Q1 2026, filed 15 May 2026.