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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CX icon
876
Cemex
CX
$16.3B
$59.4K 0.01%
+10,534
New +$59.8K
FSM icon
877
Fortuna Silver Mines
FSM
$3.07B
$57.1K 0.01%
+13,305
New +$63.5K
NAT icon
878
Nordic American Tanker
NAT
$1.37B
$56.3K 0.01%
22,501
-56,740
-72% -$174K
APLT
879
DELISTED
Applied Therapeutics
APLT
$46K 0.01%
53,718
+18,949
+54% +$119K
BFLY icon
880
Butterfly Network
BFLY
$2.35B
$45.3K 0.01%
+14,509
New +$37.8K
EDIT icon
881
Editas Medicine
EDIT
$442M
$41.6K 0.01%
32,787
+13,138
+67% +$33.5K
HPP
882
Hudson Pacific Properties
HPP
$779M
$39.9K 0.01%
1,883
-129
-6% -$3.52K
APPS icon
883
Digital Turbine
APPS
$1.74B
$35.5K 0.01%
20,996
-19,284
-48% -$42.9K
CERS icon
884
Cerus
CERS
$474M
$34.3K 0.01%
+22,278
New +$38.3K
TPIC
885
DELISTED
TPI Composites
TPIC
$32.7K ﹤0.01%
+17,322
New +$48.1K
GPRO icon
886
GoPro
GPRO
$126M
$16.4K ﹤0.01%
15,082
– –
CHRS icon
887
Coherus Oncology
CHRS
$196M
$14.3K ﹤0.01%
+10,357
New +$11.6K
AAOI icon
888
Applied Optoelectronics
AAOI
$11.5B
– –
-11,945
Closed -$171K
AAPL icon
889
Apple
AAPL
$4.57T
– –
-29,724
Closed -$6.93M
ABR icon
890
Arbor Realty Trust
ABR
$998M
– –
-15,820
Closed -$246K
ABT icon
891
Abbott
ABT
$187B
– –
-4,862
Closed -$554K
ACIW icon
892
ACI Worldwide
ACIW
$5.42B
– –
-10,907
Closed -$555K
ACT icon
893
Enact Holdings
ACT
$6.73B
– –
-7,188
Closed -$261K
ADC icon
894
Agree Realty
ADC
$9.41B
– –
-4,629
Closed -$349K
ADEA icon
895
Adeia
ADEA
$3.11B
– –
-15,322
Closed -$182K
ADI icon
896
Analog Devices
ADI
$190B
– –
-1,897
Closed -$437K
ADM icon
897
Archer Daniels Midland
ADM
$36.9B
– –
-3,978
Closed -$238K
ADP icon
898
Automatic Data Processing
ADP
$108B
– –
-2,020
Closed -$559K
ADSK icon
899
Autodesk
ADSK
$52.6B
– –
-1,218
Closed -$336K
ADUS icon
900
Addus HomeCare
ADUS
$2.23B
– –
-3,336
Closed -$444K
34 35
36
37 38

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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.