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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
LivaNova
LIVN
+$9.42M

Sector Composition

Rank Sector Weight
1 Financials 17.68%
2 Technology 15.03%
3 Industrials 14.39%
4 Consumer Discretionary 11.22%
5 Healthcare 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FOX icon
951
Fox Class B
FOX
$23.9B
$455K 0.02%
8,820
+148
+2% +$7.21K
VZ icon
952
Verizon
VZ
$196B
$453K 0.02%
10,468
-8,539
-45% -$370K
BSAC icon
953
Banco Santander Chile
BSAC
$16.6B
$453K 0.02%
+17,949
New +$433K
HMN icon
954
Horace Mann Educators
HMN
$2.11B
$452K 0.02%
+10,510
New +$443K
QXO
955
QXO Inc
QXO
$17.4B
$451K 0.02%
+20,938
New +$344K
TARS icon
956
Tarsus Pharmaceuticals
TARS
$2.84B
$448K 0.02%
+11,052
New +$497K
FSLY icon
957
Fastly Inc
FSLY
$3.66B
$445K 0.02%
+63,075
New +$423K
AMN icon
958
AMN Healthcare
AMN
$1.4B
$445K 0.02%
21,537
+249
+1% +$5.18K
FTDR icon
959
Frontdoor
FTDR
$6.38B
$445K 0.02%
+7,545
New +$379K
OUST icon
960
Ouster
OUST
$2.92B
$440K 0.02%
+18,149
New +$221K
FAST icon
961
Fastenal
FAST
$59.5B
$435K 0.02%
+10,349
New +$420K
UTHR icon
962
United Therapeutics
UTHR
$23.1B
$432K 0.02%
1,503
+257
+21% +$76.8K
OPFI icon
963
OppFi
OPFI
$803M
$426K 0.02%
+30,476
New +$342K
AHRT
964
AH Realty Trust
AHRT
$517M
$425K 0.02%
61,801
+36,390
+143% +$253K
EXEL icon
965
Exelixis
EXEL
$13.4B
$424K 0.02%
9,615
-3,385
-26% -$135K
BJ icon
966
BJs Wholesale Club
BJ
$12.3B
$415K 0.02%
3,853
-4,665
-55% -$531K
CMRE icon
967
Costamare
CMRE
$1.77B
$415K 0.02%
45,571
-12,243
-21% -$109K
DBI icon
968
Designer Brands
DBI
$333M
$408K 0.02%
171,230
-105,404
-38% -$318K
TRS icon
969
TriMas Corp
TRS
$1.44B
$406K 0.02%
+14,196
New +$348K
ROG icon
970
Rogers Corp
ROG
$2.4B
$406K 0.02%
5,925
-1,202
-17% -$77.5K
PRI icon
971
Primerica
PRI
$10B
$404K 0.02%
+1,475
New +$391K
CPB icon
972
Campbell Soup
CPB
$6.87B
$402K 0.02%
+13,110
New +$461K
DNLI icon
973
Denali Therapeutics
DNLI
$3.94B
$398K 0.02%
28,433
-52,387
-65% -$737K
UWMC icon
974
UWM Holdings
UWMC
$434M
$398K 0.02%
+96,077
New +$422K
NIC icon
975
Nicolet Bankshares
NIC
$3.62B
$398K 0.02%
+3,220
New +$376K
37 38
39
40 41

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Dark Forest Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.

Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.

  • Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
  • Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
  • Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
  • Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
  • Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
  • Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
  • Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.