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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 | |
|---|---|---|---|---|---|---|
|
EXAS
901
DELISTED
Exact Sciences
EXAS
| – | – |
-28,058
| Closed | -$2.85M |
|
902
EXL Service
EXLS
$4.18B
| – | – |
-10,049
| Closed | -$426K |
|
903
Expedia Group
EXPE
$31.8B
| – | – |
-7,031
| Closed | -$1.99M |
|
904
Exponent
EXPO
$2.94B
| – | – |
-42,823
| Closed | -$2.97M |
|
905
Ezcorp Inc
EZPW
$2B
| – | – |
-31,444
| Closed | -$611K |
|
906
First American
FAF
$7.3B
| – | – |
-25,891
| Closed | -$1.59M |
|
907
Fastenal
FAST
$51.6B
| – | – |
-17,488
| Closed | -$702K |
|
908
Fortune Brands Innovations
FBIN
$5.91B
| – | – |
-27,757
| Closed | -$1.39M |
|
909
FB Financial Corp
FBK
$2.97B
| – | – |
-63,891
| Closed | -$3.57M |
|
910
First Bancorp
FBNC
$2.65B
| – | – |
-14,799
| Closed | -$752K |
|
911
FedEx
FDX
$73.1B
| – | – |
-8,170
| Closed | -$2.36M |
|
912
F&G Annuities & Life
FG
$4.08B
| – | – |
-41,232
| Closed | -$1.27M |
|
913
Fidelity National Information Services
FIS
$21.5B
| – | – |
-25,324
| Closed | -$1.68M |
|
914
Fluence Energy
FLNC
$2.03B
| – | – |
-38,150
| Closed | -$755K |
|
915
Flowserve
FLS
$8.53B
| – | – |
-69,276
| Closed | -$4.81M |
|
916
Freedom Holding
FRHC
$10B
| – | – |
-8,265
| Closed | -$1.01M |
|
917
JFrog
FROG
$11B
| – | – |
-8,255
| Closed | -$516K |
|
918
Freshpet
FRPT
$2.8B
| – | – |
-16,373
| Closed | -$998K |
|
919
Federal Signal
FSS
$6.96B
| – | – |
-14,976
| Closed | -$1.63M |
|
920
Fulton Financial
FULT
$4.69B
| – | – |
-140,171
| Closed | -$2.71M |
|
921
First Watch Restaurant Group
FWRG
$766M
| – | – |
-13,386
| Closed | -$202K |
|
922
Grid Dynamics Holdings
GDYN
$479M
| – | – |
-23,751
| Closed | -$214K |
|
923
Griffon
GFF
$4.09B
| – | – |
-16,459
| Closed | -$1.21M |
|
924
Glaukos
GKOS
$8.99B
| – | – |
-12,268
| Closed | -$1.39M |
|
925
Globe Life
GL
$14.3B
| – | – |
-12,514
| Closed | -$1.75M |
|
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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.