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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
-0.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$1.13B
AUM Growth
-$1.06B
(-49%)
Cap. Flow
-$1.04B
Cap. Flow
% of AUM
-92.28%
Top 10 Holdings %
Top 10 Hldgs %
8.34%
Holding
1,215
New
284
Increased
139
Reduced
338
Closed
449
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Coeur Mining
CDE
|
+$11.4M |
| 2 |
TPG
TPG
|
+$9.58M |
| 3 |
SoFi Technologies
SOFI
|
+$7.05M |
| 4 |
Liberty Media Series C
FWONK
|
+$6.49M |
| 5 |
Zillow
Z
|
+$6.11M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$30.9M |
| 2 |
Walmart Inc
WMT
|
+$15.7M |
| 3 |
Chevron
CVX
|
+$15M |
| 4 |
Simon Property Group
SPG
|
+$12.5M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1001
Pediatrix Medical
MD
$2.15B
| – | – |
-10,418
| Closed | -$223K |
|
1002
M/I Homes
MHO
$3.76B
| – | – |
-18,751
| Closed | -$2.4M |
|
|
MRSH
1003
Marsh
MRSH
$87.5B
| – | – |
-15,066
| Closed | -$2.8M |
|
1004
3M
MMM
$89.1B
| – | – |
-40,169
| Closed | -$6.43M |
|
1005
MannKind Corp
MNKD
$1.25B
| – | – |
-98,402
| Closed | -$558K |
|
|
DFTX
1006
Definium Therapeutics
DFTX
$5.98B
| – | – |
-30,661
| Closed | -$411K |
|
1007
Monster Beverage
MNST
$92.4B
| – | – |
-26,378
| Closed | -$2.02M |
|
1008
Morningstar
MORN
$6.3B
| – | – |
-10,071
| Closed | -$2.19M |
|
|
MPT
1009
Medical Properties Trust
MPT
$2.91B
| – | – |
-542,793
| Closed | -$2.71M |
|
1010
Moderna
MRNA
$23.7B
| – | – |
-9,262
| Closed | -$273K |
|
1011
Morgan Stanley
MS
$340B
| – | – |
-35,689
| Closed | -$6.34M |
|
1012
Matador Resources
MTDR
$6.72B
| – | – |
-32,074
| Closed | -$1.36M |
|
1013
Minerals Technologies
MTX
$2.29B
| – | – |
-21,100
| Closed | -$1.29M |
|
1014
Murphy Oil
MUR
$5.35B
| – | – |
-116,480
| Closed | -$3.64M |
|
1015
Murphy USA
MUSA
$11.3B
| – | – |
-592
| Closed | -$239K |
|
1016
MYR Group
MYRG
$6.23B
| – | – |
-11,007
| Closed | -$2.41M |
|
1017
N-able
NABL
$883M
| – | – |
-33,969
| Closed | -$254K |
|
1018
National Bank Holdings
NBHC
$2.05B
| – | – |
-38,502
| Closed | -$1.46M |
|
1019
Neurocrine Biosciences
NBIX
$18B
| – | – |
-10,248
| Closed | -$1.45M |
|
1020
NBT Bancorp
NBTB
$2.71B
| – | – |
-42,416
| Closed | -$1.76M |
|
1021
Nasdaq
NDAQ
$51B
| – | – |
-36,588
| Closed | -$3.55M |
|
1022
Neogen
NEOG
$2.16B
| – | – |
-21,823
| Closed | -$153K |
|
1023
Cloudflare
NET
$96.7B
| – | – |
-3,389
| Closed | -$668K |
|
1024
NextDecade
NEXT
$1.95B
| – | – |
-93,502
| Closed | -$493K |
|
1025
Nektar Therapeutics
NKTR
$2.32B
| – | – |
-42,277
| Closed | -$1.79M |
|
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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.