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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 | |
|---|---|---|---|---|---|---|
1026
NMI Holdings
NMIH
$3.24B
| – | – |
-20,097
| Closed | -$820K |
|
1027
Northern Oil and Gas
NOG
$2.31B
| – | – |
-195,702
| Closed | -$4.2M |
|
1028
ServiceNow
NOW
$105B
| – | – |
-17,912
| Closed | -$2.74M |
|
1029
NRG Energy
NRG
$27.8B
| – | – |
-12,196
| Closed | -$1.94M |
|
1030
Insperity
NSP
$1.95B
| – | – |
-46,580
| Closed | -$1.8M |
|
1031
NetApp
NTAP
$31.6B
| – | – |
-23,104
| Closed | -$2.47M |
|
1032
Intellia Therapeutics
NTLA
$1.6B
| – | – |
-44,947
| Closed | -$404K |
|
1033
Nucor
NUE
$52.5B
| – | – |
-26,181
| Closed | -$4.27M |
|
|
NUTX
1034
Nutex Health
NUTX
$1.11B
| – | – |
-1,381
| Closed | -$227K |
|
1035
Nuvation Bio
NUVB
$2.18B
| – | – |
-185,843
| Closed | -$1.67M |
|
|
NXRT
1036
NexPoint Residential Trust
NXRT
$664M
| – | – |
-62,126
| Closed | -$1.87M |
|
1037
Ocular Therapeutix
OCUL
$1.91B
| – | – |
-105,627
| Closed | -$1.28M |
|
1038
OFG Bancorp
OFG
$2.11B
| – | – |
-32,814
| Closed | -$1.34M |
|
1039
Omega Healthcare
OHI
$15.1B
| – | – |
-124,888
| Closed | -$5.54M |
|
1040
Oneok
OKE
$58.9B
| – | – |
-32,107
| Closed | -$2.36M |
|
1041
Olin
OLN
$2.53B
| – | – |
-238,404
| Closed | -$4.97M |
|
1042
Omnicom Group
OMC
$23.5B
| – | – |
-67,528
| Closed | -$5.45M |
|
1043
Opendoor
OPEN
$4.32B
| – | – |
-229,086
| Closed | -$1.34M |
|
1044
OppFi
OPFI
$794M
| – | – |
-45,070
| Closed | -$471K |
|
|
ORC
1045
Orchid Island Capital
ORC
$1.34B
| – | – |
-422,596
| Closed | -$3.04M |
|
1046
Oracle
ORCL
$366B
| – | – |
-13,605
| Closed | -$2.65M |
|
1047
O'Reilly Automotive
ORLY
$72.9B
| – | – |
-34,617
| Closed | -$3.16M |
|
1048
OneSpaWorld
OSW
$2.68B
| – | – |
-29,356
| Closed | -$609K |
|
1049
Bank OZK
OZK
$5.61B
| – | – |
-38,674
| Closed | -$1.78M |
|
1050
UiPath
PATH
$6.24B
| – | – |
-258,997
| Closed | -$4.24M |
|
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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.