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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
BILL icon
951
BILL Holdings
BILL
$4.78B
– –
-36,365
Closed -$1.92M
BIO icon
952
Bio-Rad Laboratories Class A
BIO
$9.42B
– –
-655
Closed -$219K
BIRK icon
953
Birkenstock
BIRK
$7.07B
– –
-26,172
Closed -$1.29M
BJ icon
954
BJs Wholesale Club
BJ
$12.3B
– –
-2,463
Closed -$203K
BNY
955
Bank of New York Mellon
BNY
$107B
– –
-5,139
Closed -$369K
BKR icon
956
Baker Hughes
BKR
$61.1B
– –
-11,348
Closed -$410K
BLDR icon
957
Builders FirstSource
BLDR
$8.04B
– –
-1,498
Closed -$290K
BLK icon
958
Blackrock
BLK
$176B
– –
-540
Closed -$513K
BLMN icon
959
Bloomin' Brands
BLMN
$938M
– –
-16,310
Closed -$270K
BMRN icon
960
BioMarin Pharmaceuticals
BMRN
$12.4B
– –
-5,663
Closed -$398K
BR icon
961
Broadridge
BR
$19B
– –
-1,975
Closed -$425K
BRBR icon
962
BellRing Brands
BRBR
$1.34B
– –
-4,708
Closed -$286K
BRO icon
963
Brown & Brown
BRO
$23.9B
– –
-2,106
Closed -$218K
BVS icon
964
Bioventus
BVS
$1.19B
– –
-16,925
Closed -$202K
BWA icon
965
BorgWarner
BWA
$13.9B
– –
-6,705
Closed -$243K
BX icon
966
Blackstone
BX
$110B
– –
-2,797
Closed -$428K
CAG icon
967
Conagra Brands
CAG
$7.23B
– –
-10,404
Closed -$338K
CAH icon
968
Cardinal Health
CAH
$55.4B
– –
-2,611
Closed -$289K
CARR icon
969
Carrier Global
CARR
$52.8B
– –
-4,580
Closed -$369K
CAT icon
970
Caterpillar
CAT
$387B
– –
-1,988
Closed -$778K
CB icon
971
Chubb
CB
$135B
– –
-1,438
Closed -$415K
CBOE icon
972
Cboe Global Markets
CBOE
$29.9B
– –
-2,475
Closed -$507K
CBRE icon
973
CBRE Group
CBRE
$42.9B
– –
-4,325
Closed -$538K
CBSH icon
974
Commerce Bancshares
CBSH
$8.5B
– –
-7,919
Closed -$427K
CBZ icon
975
CBIZ
CBZ
$2.96B
– –
-44,757
Closed -$3.01M
37 38
39
40 41

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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.