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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
+10.07%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$666M
AUM Growth
-$632M
Cap. Flow
-$687M
Cap. Flow %
-103.08%
Top 10 Hldgs %
40.61%
Holding
1,194
New
130
Increased
97
Reduced
186
Closed
768

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$93.3M
2
P
Everpure Inc
P
+$18.1M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$15.9M
4
WDAY icon
Workday
WDAY
+$15.8M
5
APP icon
Applovin
APP
+$15.5M

Top Sells

Rank Stock Value
1
LULU icon
lululemon athletica
LULU
+$17.1M
2
KSS icon
Kohl's
KSS
+$11.8M
3
VMBS icon
Vanguard Mortgage-Backed Securities ETF
VMBS
+$11.6M
4
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$8.19M
5
CNGL
Canna-Global Acquisition Corp. Class A Common Stock
CNGL
+$5.88M

Sector Composition

Rank Sector Weight
1 Communication Services 26.63%
2 Technology 15.32%
3 Financials 8.5%
4 Industrials 8.5%
5 Consumer Discretionary 7.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LOCO icon
826
El Pollo Loco
LOCO
$462M
– –
-17,333
Closed -$155K
LOPE icon
827
Grand Canyon Education
LOPE
$3.98B
– –
-5,069
Closed -$592K
LOW icon
828
Lowe's Companies
LOW
$125B
– –
-3,180
Closed -$661K
LPLA icon
829
LPL Financial
LPLA
$28.6B
– –
-15,625
Closed -$3.71M
LPX icon
830
Louisiana-Pacific
LPX
$5.49B
– –
-20,741
Closed -$1.15M
LQDT icon
831
Liquidity Services
LQDT
$1.32B
– –
-16,211
Closed -$286K
LRN icon
832
Stride
LRN
$3.43B
– –
-4,607
Closed -$207K
LSCC icon
833
Lattice Semiconductor
LSCC
$18.5B
– –
-10,766
Closed -$925K
LSTR icon
834
Landstar System
LSTR
$6.21B
– –
-1,143
Closed -$202K
LULU icon
835
lululemon athletica
LULU
$14.6B
– –
-44,292
Closed -$17.1M
LUMN icon
836
Lumen
LUMN
$6.44B
– –
-30,612
Closed -$43.5K
LVS icon
837
Las Vegas Sands
LVS
$29.6B
– –
-9,158
Closed -$420K
LYB icon
838
LyondellBasell Industries
LYB
$19.2B
– –
-3,690
Closed -$349K
LYFT icon
839
Lyft
LYFT
$6.63B
– –
-86,576
Closed -$913K
LYV icon
840
Live Nation Entertainment
LYV
$42.1B
– –
-14,307
Closed -$1.19M
MAA icon
841
Mid-America Apartment Communities
MAA
$15.7B
– –
-11,968
Closed -$1.54M
MAC icon
842
Macerich
MAC
$6.92B
– –
-21,143
Closed -$231K
MAIN icon
843
Main Street Capital
MAIN
$5.48B
– –
-23,913
Closed -$972K
MAS icon
844
Masco
MAS
$15.3B
– –
-7,343
Closed -$392K
MATV icon
845
Mativ Holdings
MATV
$711M
– –
-54,293
Closed -$774K
MATW icon
846
Matthews International
MATW
$739M
– –
-10,791
Closed -$420K
MATX icon
847
Matsons
MATX
$6.18B
– –
-24,763
Closed -$2.2M
MCD icon
848
McDonald's
MCD
$195B
– –
-10,807
Closed -$2.85M
MCK icon
849
McKesson
MCK
$101B
– –
-3,397
Closed -$1.48M
MCY icon
850
Mercury Insurance
MCY
$6.07B
– –
-16,822
Closed -$472K
32 33
34
35 36

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AT
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WM
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OHIF
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HMCP
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ACM
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CNC
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Dark Forest Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Dark Forest Capital Management held 1,194 positions worth $666M, down 49% from $1.3B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Dark Forest Capital Management withdrew a net $687M in Q4 2023, closing 768 positions and reducing 186 holdings. Its most notable exit was lululemon athletica, an estimated $17.1M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 27% of assets, up from 6.2% a quarter earlier, followed by Technology and Financials.

Against the trend, Dark Forest Capital Management opened a new position in Everpure Inc worth $18.4M.

  • Dark Forest Capital Management's largest Q4 2023 buy was Everpure Inc: 514,899 shares worth $18.4M.
  • Dark Forest Capital Management added most to Alphabet (Google) Class A in Q4 2023, an estimated $93.3M increase.
  • Dark Forest Capital Management's biggest Q4 2023 reduction was Kohl's, cutting an estimated $11.8M.
  • Dark Forest Capital Management fully exited lululemon athletica in Q4 2023, selling an estimated $17.1M.
  • Dark Forest Capital Management's ten largest holdings make up 41% of its $666M portfolio in Q4 2023.
  • Dark Forest Capital Management opened 130 new positions and closed 768 in Q4 2023.
  • Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $666M.

Based on Dark Forest Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.