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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
AEE icon
901
Ameren
AEE
$30.1B
– –
-4,463
Closed -$390K
AEHR icon
902
Aehr Test Systems
AEHR
$3.36B
– –
-11,039
Closed -$142K
AEO icon
903
American Eagle Outfitters
AEO
$3.01B
– –
-12,014
Closed -$269K
AESI icon
904
Atlas Energy Solutions
AESI
$1.41B
– –
-47,007
Closed -$1.02M
AFG icon
905
American Financial Group
AFG
$12.1B
– –
-1,838
Closed -$247K
AFL icon
906
Aflac
AFL
$62.6B
– –
-7,495
Closed -$838K
AGL icon
907
Agilon Health
AGL
$1.6B
– –
-876
Closed -$86.1K
AGX icon
908
Argan
AGX
$8.37B
– –
-3,836
Closed -$389K
AIZ icon
909
Assurant
AIZ
$14.3B
– –
-1,046
Closed -$208K
AJG icon
910
Arthur J. Gallagher & Co
AJG
$63.6B
– –
-1,013
Closed -$285K
AKAM icon
911
Akamai
AKAM
$15.9B
– –
-3,511
Closed -$354K
ALB icon
912
Albemarle
ALB
$15.5B
– –
-2,140
Closed -$203K
ALGN icon
913
Align Technology
ALGN
$12.3B
– –
-979
Closed -$249K
ALK icon
914
Alaska Air
ALK
$5.58B
– –
-4,796
Closed -$217K
ALL icon
915
Allstate
ALL
$67.5B
– –
-1,621
Closed -$307K
AMD icon
916
Advanced Micro Devices
AMD
$789B
– –
-4,651
Closed -$763K
AME icon
917
Ametek
AME
$58.2B
– –
-2,273
Closed -$390K
AMN icon
918
AMN Healthcare
AMN
$1.4B
– –
-5,547
Closed -$235K
AMP icon
919
Ameriprise Financial
AMP
$48.8B
– –
-598
Closed -$281K
AMSC icon
920
American Superconductor
AMSC
$1.59B
– –
-8,772
Closed -$207K
AMT icon
921
American Tower
AMT
$80.4B
– –
-2,234
Closed -$520K
ANET icon
922
Arista Networks
ANET
$238B
– –
-5,280
Closed -$507K
ANSS
923
DELISTED
Ansys
ANSS
– –
-713
Closed -$227K
AON icon
924
Aon
AON
$76B
– –
-1,661
Closed -$575K
APG icon
925
APi Group
APG
$18B
– –
-9,902
Closed -$218K
35 36
37
38 39

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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.