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DFCM

Dark Forest Capital Management Portfolio holdings

AUM $1.55B
1-Year Est. Return 23.63%
This Fund
S&P 500
This Quarter Est. Return
-0.95%
1 Year Est. Return
+23.63%
3 Year Est. Return
+62.99%
5 Year Est. Return
+72.84%
10 Year Est. Return
–
AUM
$1.13B
AUM Growth
-$1.06B
Cap. Flow
-$1.04B
Cap. Flow %
-92.28%
Top 10 Hldgs %
8.34%
Holding
1,215
New
284
Increased
139
Reduced
338
Closed
449

Top Buys

Rank Stock Value
1
CDE icon
Coeur Mining
CDE
+$11.4M
2
TPG icon
TPG
TPG
+$9.58M
3
SOFI icon
SoFi Technologies
SOFI
+$7.05M
4
FWONK icon
Liberty Media Series C
FWONK
+$6.49M
5
Z icon
Zillow
Z
+$6.11M

Top Sells

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$30.9M
2
WMT icon
Walmart Inc
WMT
+$15.7M
3
CVX icon
Chevron
CVX
+$15M
4
SPG icon
Simon Property Group
SPG
+$12.5M
5
BROS icon
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
IE icon
951
Ivanhoe Electric
IE
$1.79B
– –
-77,659
Closed -$1.24M
IEX icon
952
IDEX
IEX
$17B
– –
-1,613
Closed -$287K
IFF icon
953
International Flavors & Fragrances
IFF
$22.4B
– –
-76,560
Closed -$5.16M
IIPR icon
954
Innovative Industrial Properties
IIPR
$1.55B
– –
-26,679
Closed -$1.26M
IMAX icon
955
IMAX
IMAX
$2.76B
– –
-24,773
Closed -$916K
IMNM icon
956
Immunome
IMNM
$3.13B
– –
-57,153
Closed -$1.23M
INDA icon
957
iShares MSCI India ETF
INDA
$6.61B
– –
-74,340
Closed -$4.02M
INGR icon
958
Ingredion
INGR
$6.6B
– –
-9,398
Closed -$1.04M
INTU icon
959
Intuit
INTU
$97.9B
– –
-6,857
Closed -$4.54M
INVH icon
960
Invitation Homes
INVH
$17.4B
– –
-135,556
Closed -$3.77M
IONS icon
961
Ionis Pharmaceuticals
IONS
$10.1B
– –
-12,691
Closed -$1M
IPAR icon
962
Interparfums
IPAR
$3.77B
– –
-2,893
Closed -$245K
IRDM icon
963
Iridium Communications
IRDM
$4.94B
– –
-248,011
Closed -$4.31M
IRTC icon
964
iRhythm Holdings
IRTC
$3.96B
– –
-8,548
Closed -$1.52M
IT icon
965
Gartner
IT
$12.5B
– –
-4,873
Closed -$1.23M
ITT icon
966
ITT
ITT
$18.1B
– –
-9,694
Closed -$1.68M
JANX icon
967
Janux Therapeutics
JANX
$1.1B
– –
-57,363
Closed -$792K
JBSS icon
968
John B. Sanfilippo & Son
JBSS
$873M
– –
-5,278
Closed -$373K
JEF icon
969
Jefferies Financial Group
JEF
$12.2B
– –
-18,126
Closed -$1.12M
JJSF icon
970
J&J Snack Foods
JJSF
$1.67B
– –
-16,127
Closed -$1.46M
JOE icon
971
St. Joe Company
JOE
$3.83B
– –
-42,145
Closed -$2.5M
KBH icon
972
KB Home
KBH
$3.36B
– –
-36,889
Closed -$2.08M
KDP icon
973
Keurig Dr Pepper
KDP
$43.8B
– –
-67,951
Closed -$1.9M
KEX icon
974
Kirby Corp
KEX
$7.34B
– –
-9,261
Closed -$1.02M
KKR icon
975
KKR & Co
KKR
$97.6B
– –
-7,042
Closed -$898K
37 38
39
40 41

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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.