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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ETR icon
1051
Entergy
ETR
$50B
– –
-5,842
Closed -$384K
ETSY icon
1052
Etsy
ETSY
$7.85B
– –
-5,334
Closed -$296K
EXC icon
1053
Exelon
EXC
$47B
– –
-18,470
Closed -$749K
EXPD icon
1054
Expeditors International
EXPD
$23.2B
– –
-2,345
Closed -$308K
EXPE icon
1055
Expedia Group
EXPE
$37.3B
– –
-1,719
Closed -$254K
FANG icon
1056
Diamondback Energy
FANG
$52.7B
– –
-1,373
Closed -$237K
FBK icon
1057
FB Financial Corp
FBK
$3.04B
– –
-12,739
Closed -$598K
FCF icon
1058
First Commonwealth Financial
FCF
$2.17B
– –
-12,885
Closed -$221K
FCNCA icon
1059
First Citizens BancShares
FCNCA
$25.3B
– –
-123
Closed -$226K
FCX icon
1060
Freeport-McMoran
FCX
$97.5B
– –
-15,907
Closed -$794K
FDMT icon
1061
4D Molecular Therapeutics
FDMT
$562M
– –
-18,717
Closed -$202K
DMC
1062
Del Monte Corp
DMC
$1.45B
– –
-9,332
Closed -$276K
FDS icon
1063
Factset
FDS
$10.2B
– –
-483
Closed -$222K
FDX icon
1064
FedEx
FDX
$75.4B
– –
-2,688
Closed -$736K
FE icon
1065
FirstEnergy
FE
$27.5B
– –
-5,659
Closed -$251K
FFBC icon
1066
First Financial Bancorp
FFBC
$3.53B
– –
-21,158
Closed -$534K
FFIV icon
1067
F5
FFIV
$22.7B
– –
-1,882
Closed -$414K
FISV
1068
Fiserv Inc
FISV
$27.9B
– –
-2,361
Closed -$424K
FICO icon
1069
Fair Isaac
FICO
$22.5B
– –
-200
Closed -$389K
FIGS icon
1070
FIGS
FIGS
$2.37B
– –
-10,948
Closed -$74.9K
FIS icon
1071
Fidelity National Information Services
FIS
$22.1B
– –
-4,300
Closed -$360K
FITB
1072
Fifth Third Bancorp
FITB
$51.8B
– –
-6,303
Closed -$270K
FMC icon
1073
FMC
FMC
$1.33B
– –
-11,737
Closed -$774K
FNB icon
1074
FNB Corp
FNB
$6.75B
– –
-13,294
Closed -$188K
FNKO icon
1075
Funko
FNKO
$328M
– –
-11,011
Closed -$135K
41 42
43
44 45

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AT
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OHIF
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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.