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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
+6.88%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.66B
AUM Growth
+$149M
Cap. Flow
+$50.1M
Cap. Flow %
1.89%
Top 10 Hldgs %
6.39%
Holding
1,542
New
400
Increased
350
Reduced
355
Closed
431

Top Buys

Rank Stock Value
1
L icon
Loews
L
+$17.8M
2
INDA icon
iShares MSCI India ETF
INDA
+$17.3M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$16.4M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$16.2M
5
WMT icon
Walmart Inc
WMT
+$10M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$14.9M
2
NVDA icon
NVIDIA
NVDA
+$12.5M
3
BAC icon
Bank of America
BAC
+$12.5M
4
PANW icon
Palo Alto Networks
PANW
+$11.6M
5
AAPL icon
Apple
AAPL
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 18.09%
2 Industrials 14.85%
3 Technology 14.22%
4 Consumer Discretionary 11.61%
5 Healthcare 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BSX icon
76
Boston Scientific
BSX
$71.7B
$6.28M 0.24%
64,309
+14,760
+30% +$1.53M
LITE icon
77
Lumentum
LITE
$68.9B
$6.26M 0.24%
38,504
+31,443
+445% +$3.92M
STZ icon
78
Constellation Brands
STZ
$23.2B
$6.24M 0.23%
46,315
+41,865
+941% +$6.66M
W icon
79
Wayfair
W
$14.4B
$6.22M 0.23%
+69,623
New +$5.1M
MS icon
80
Morgan Stanley
MS
$337B
$6.16M 0.23%
38,751
-55,836
-59% -$8.24M
BKH icon
81
Black Hills Corp
BKH
$5.72B
$6.16M 0.23%
100,003
-6,270
-6% -$369K
BFAM icon
82
Bright Horizons
BFAM
$3.89B
$6.16M 0.23%
+56,715
New +$6.57M
PLXS icon
83
Plexus
PLXS
$7.25B
$6.16M 0.23%
42,556
+24,495
+136% +$3.31M
CDP icon
84
COPT Defense Properties
CDP
$4.23B
$6.14M 0.23%
211,410
+14,091
+7% +$405K
SYNA icon
85
Synaptics
SYNA
$4.12B
$6.11M 0.23%
89,338
+35,705
+67% +$2.43M
DHI icon
86
D.R. Horton
DHI
$41.6B
$6.08M 0.23%
35,906
+20,889
+139% +$3.28M
GEHC icon
87
GE HealthCare
GEHC
$32B
$6.08M 0.23%
+80,968
New +$6.04M
SMCI icon
88
Super Micro Computer
SMCI
$19.7B
$6.05M 0.23%
+126,112
New +$6.02M
MSI icon
89
Motorola Solutions
MSI
$77.8B
$6.04M 0.23%
13,204
+11,908
+919% +$5.37M
CNP icon
90
CenterPoint Energy
CNP
$27B
$6M 0.23%
154,569
+13,058
+9% +$493K
PPC icon
91
Pilgrim's Pride
PPC
$6.55B
$5.9M 0.22%
144,852
+12,365
+9% +$561K
MORN icon
92
Morningstar
MORN
$7.47B
$5.86M 0.22%
+25,257
New +$6.73M
BA icon
93
Boeing
BA
$183B
$5.8M 0.22%
26,896
+13,470
+100% +$3.04M
VLO icon
94
Valero Energy
VLO
$86.4B
$5.8M 0.22%
34,053
+30,358
+822% +$4.53M
SSNC icon
95
SS&C Technologies
SSNC
$18.7B
$5.78M 0.22%
+65,111
New +$5.64M
MGY icon
96
Magnolia Oil & Gas
MGY
$6.02B
$5.73M 0.22%
239,863
-256,944
-52% -$6.13M
MEDP icon
97
Medpace
MEDP
$16.3B
$5.68M 0.21%
11,050
-567
-5% -$248K
FISV
98
Fiserv Inc
FISV
$27.5B
$5.66M 0.21%
43,874
+17,489
+66% +$2.51M
ATMU icon
99
Atmus Filtration Technologies
ATMU
$4.4B
$5.66M 0.21%
125,436
+48,382
+63% +$2.03M
IRDM icon
100
Iridium Communications
IRDM
$5.29B
$5.56M 0.21%
318,699
+254,425
+396% +$6.29M
2 3
4
5 6

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Dark Forest Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Dark Forest Capital Management held 1,542 positions worth $2.66B, up 6% from $2.51B the previous quarter. Its ten largest holdings account for 6.4% of the portfolio.

Dark Forest Capital Management's Q3 2025 filing shows 400 new, 350 increased, 355 reduced and 431 closed positions. Its largest new stake was iShares MSCI India ETF: 324,340 shares worth $16.9M. The largest sale was Cheniere Energy, an estimated $14.9M.

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

  • Dark Forest Capital Management's largest Q3 2025 buy was iShares MSCI India ETF: 324,340 shares worth $16.9M.
  • Dark Forest Capital Management added most to Loews in Q3 2025, an estimated $17.8M increase.
  • Dark Forest Capital Management's biggest Q3 2025 reduction was Cheniere Energy, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Bank of America in Q3 2025, selling an estimated $12.5M.
  • Dark Forest Capital Management's ten largest holdings make up 6.4% of its $2.66B portfolio in Q3 2025.
  • Dark Forest Capital Management opened 400 new positions and closed 431 in Q3 2025.
  • Dark Forest Capital Management's portfolio value rose 6% quarter-over-quarter to $2.66B.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.