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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
-5.08%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.2B
AUM Growth
+$1.52B
Cap. Flow
+$1.68B
Cap. Flow %
76.49%
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$27.3M
2
CRH icon
CRH
CRH
+$12.6M
3
MSFT icon
Microsoft
MSFT
+$12.2M
4
AMCR icon
Amcor
AMCR
+$12.2M
5
LIVN icon
LivaNova
LIVN
+$11.2M

Top Sells

Rank Stock Value
1
TTD icon
Trade Desk
TTD
+$9.58M
2
APP icon
Applovin
APP
+$6.9M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$5M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$4.89M
5
GWRE icon
Guidewire Software
GWRE
+$4.75M

Sector Composition

Rank Sector Weight
1 Financials 16.4%
2 Industrials 14.7%
3 Technology 12.79%
4 Consumer Discretionary 11.74%
5 Healthcare 9.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BRK.B icon
901
Berkshire Hathaway Class B
BRK.B
$1.13T
$537K 0.02%
1,008
-4
-0.4% -$1.95K
JBI icon
902
Janus International
JBI
$757M
$536K 0.02%
+74,490
New +$591K
AROC icon
903
Archrock
AROC
$5.8B
$533K 0.02%
+20,325
New +$548K
BV icon
904
BrightView Holdings
BV
$1.07B
$533K 0.02%
41,496
+26,093
+169% +$374K
TTAN
905
ServiceTitan Inc
TTAN
$8.19B
$532K 0.02%
+5,589
New +$542K
AMAL icon
906
Amalgamated Financial
AMAL
$1.49B
$531K 0.02%
+18,471
New +$604K
JNJ icon
907
Johnson & Johnson
JNJ
$625B
$530K 0.02%
3,194
+1,574
+97% +$246K
COCO icon
908
Vita Coco
COCO
$3.6B
$529K 0.02%
+17,247
New +$615K
SFL icon
909
SFL Corp
SFL
$1.61B
$525K 0.02%
63,993
+460
+0.7% +$4.44K
GRND icon
910
Grindr
GRND
$2.95B
$523K 0.02%
+29,210
New +$513K
KNSL icon
911
Kinsale Capital Group
KNSL
$8.51B
$522K 0.02%
+1,073
New +$482K
NXRT
912
NexPoint Residential Trust
NXRT
$652M
$522K 0.02%
13,197
-2,860
-18% -$113K
AMN icon
913
AMN Healthcare
AMN
$1.4B
$521K 0.02%
+21,288
New +$547K
CODI icon
914
Compass Diversified
CODI
$828M
$520K 0.02%
+27,840
New +$575K
MAC icon
915
Macerich
MAC
$6.92B
$519K 0.02%
+30,256
New +$579K
RGA icon
916
Reinsurance Group of America
RGA
$16.1B
$518K 0.02%
2,633
+1,179
+81% +$244K
WAFD icon
917
WaFd
WAFD
$2.75B
$516K 0.02%
+18,043
New +$535K
UNFI icon
918
United Natural Foods
UNFI
$2.85B
$515K 0.02%
18,801
-5,919
-24% -$171K
RIG icon
919
Transocean
RIG
$5.82B
$514K 0.02%
162,086
+101,800
+169% +$357K
BTU icon
920
Peabody Energy
BTU
$2.9B
$509K 0.02%
+37,594
New +$605K
URI icon
921
United Rentals
URI
$72.4B
$509K 0.02%
+812
New +$558K
JACK icon
922
Jack in the Box
JACK
$335M
$509K 0.02%
+18,710
New +$689K
BLKB icon
923
Blackbaud
BLKB
$2.08B
$507K 0.02%
+8,178
New +$581K
USNA icon
924
Usana Health Sciences
USNA
$286M
$506K 0.02%
18,760
+1,515
+9% +$48K
AGX icon
925
Argan
AGX
$8.37B
$506K 0.02%
+3,855
New +$538K
35 36
37
38 39

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Dark Forest Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Dark Forest Capital Management held 1,491 positions worth $2.2B, up 225% from $678M the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.

Dark Forest Capital Management deployed $1.68B of net new capital in Q1 2025, opening 604 new positions and adding to 497 existing holdings. Its largest new stake was Palo Alto Networks: 55,911 shares worth $9.54M.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Applovin, an estimated $6.9M trimmed.

  • Dark Forest Capital Management's largest Q1 2025 buy was Palo Alto Networks: 55,911 shares worth $9.54M.
  • Dark Forest Capital Management added most to Cheniere Energy in Q1 2025, an estimated $27.3M increase.
  • Dark Forest Capital Management's biggest Q1 2025 reduction was Applovin, cutting an estimated $6.9M.
  • Dark Forest Capital Management fully exited Trade Desk in Q1 2025, selling an estimated $9.58M.
  • Dark Forest Capital Management's ten largest holdings make up 7.2% of its $2.2B portfolio in Q1 2025.
  • Dark Forest Capital Management opened 604 new positions and closed 295 in Q1 2025.
  • Dark Forest Capital Management's portfolio value rose 225% quarter-over-quarter to $2.2B.

Based on Dark Forest Capital Management's 13F filing for Q1 2025, filed 15 May 2025.