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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
DDS icon
76
Dillards
DDS
$9.56B
$4.95M 0.22%
13,816
+12,521
+967% +$5.39M
TLN
77
Talen Energy Corp
TLN
$16.7B
$4.94M 0.22%
24,730
+19,414
+365% +$4.21M
GPN icon
78
Global Payments
GPN
$22.8B
$4.92M 0.22%
+50,273
New +$5.26M
CDE icon
79
Coeur Mining
CDE
$17.9B
$4.81M 0.22%
812,129
+568,009
+233% +$3.5M
KMPR icon
80
Kemper
KMPR
$1.68B
$4.8M 0.22%
+71,786
New +$4.76M
ATO icon
81
Atmos Energy
ATO
$28.8B
$4.73M 0.22%
+30,630
New +$4.47M
APAM icon
82
Artisan Partners
APAM
$3.02B
$4.73M 0.22%
121,085
+83,551
+223% +$3.54M
CCI icon
83
Crown Castle
CCI
$32.2B
$4.72M 0.21%
45,309
+12,063
+36% +$1.13M
DOW icon
84
Dow Inc
DOW
$21.2B
$4.72M 0.21%
135,202
+114,927
+567% +$4.41M
SSD icon
85
Simpson Manufacturing
SSD
$8.16B
$4.69M 0.21%
29,830
+24,493
+459% +$4.02M
KDP icon
86
Keurig Dr Pepper
KDP
$40.8B
$4.68M 0.21%
136,759
+87,306
+177% +$2.84M
PNC icon
87
PNC Financial Services
PNC
$101B
$4.68M 0.21%
26,611
+24,046
+937% +$4.54M
ACLX
88
DELISTED
Arcellx
ACLX
$4.66M 0.21%
71,070
+55,003
+342% +$3.73M
ADC icon
89
Agree Realty
ADC
$9.41B
$4.59M 0.21%
+59,501
New +$4.36M
FELE icon
90
Franklin Electric
FELE
$4.84B
$4.55M 0.21%
48,518
+37,496
+340% +$3.73M
GAP
91
The Gap Inc
GAP
$7.37B
$4.52M 0.21%
219,187
+198,674
+969% +$4.47M
BLK icon
92
Blackrock
BLK
$176B
$4.5M 0.2%
+4,752
New +$4.66M
LLY icon
93
Eli Lilly
LLY
$1.06T
$4.48M 0.2%
5,425
+4,760
+716% +$3.96M
DELL icon
94
Dell
DELL
$293B
$4.47M 0.2%
49,048
+45,730
+1,378% +$4.84M
CPRT icon
95
Copart
CPRT
$27.5B
$4.46M 0.2%
78,751
+62,861
+396% +$3.54M
A icon
96
Agilent Technologies
A
$41.2B
$4.45M 0.2%
38,003
+34,273
+919% +$4.62M
SAM icon
97
Boston Beer
SAM
$1.92B
$4.44M 0.2%
18,572
+17,801
+2,309% +$4.34M
VEEV icon
98
Veeva Systems
VEEV
$37.4B
$4.43M 0.2%
19,112
+11,948
+167% +$2.73M
HHH icon
99
Howard Hughes
HHH
$4.03B
$4.41M 0.2%
59,536
+34,093
+134% +$2.57M
ESI icon
100
Element Solutions
ESI
$9.23B
$4.4M 0.2%
194,488
+122,320
+169% +$3.13M
2 3
4
5 6

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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.