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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
(+225%)
Cap. Flow
+$1.68B
Cap. Flow
% of AUM
76.49%
Top 10 Holdings %
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cheniere Energy
LNG
|
+$27.3M |
| 2 |
CRH
CRH
|
+$12.6M |
| 3 |
Microsoft
MSFT
|
+$12.2M |
| 4 |
Amcor
AMCR
|
+$12.2M |
| 5 |
LivaNova
LIVN
|
+$11.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Trade Desk
TTD
|
+$9.58M |
| 2 |
Applovin
APP
|
+$6.9M |
| 3 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$5M |
| 4 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$4.89M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1051
Douglas Emmett
DEI
$1.96B
| $317K | 0.01% |
19,832
-43,085
| -68% | -$731K |
|
|
TDAY
1052
USA Today Co
TDAY
$1.06B
| $317K | 0.01% |
109,676
+90,655
| +477% | +$379K |
|
1053
Abbott
ABT
$187B
| $317K | 0.01% |
+2,389
| New | +$304K |
|
1054
Nike
NKE
$61.9B
| $316K | 0.01% |
+4,976
| New | +$366K |
|
1055
SI-BONE Inc
SIBN
$834M
| $315K | 0.01% |
+22,445
| New | +$362K |
|
1056
Kiniksa Pharmaceuticals
KNSA
$5.93B
| $313K | 0.01% |
+14,108
| New | +$290K |
|
1057
Hallador Energy
HNRG
$696M
| $312K | 0.01% |
+25,370
| New | +$285K |
|
1058
Geron
GERN
$949M
| $311K | 0.01% |
+195,682
| New | +$477K |
|
1059
Oshkosh
OSK
$9.59B
| $311K | 0.01% |
+3,307
| New | +$331K |
|
1060
Immunome
IMNM
$2.83B
| $310K | 0.01% |
+46,044
| New | +$442K |
|
1061
Liberty Latin America Class C
LILAK
$1.64B
| $308K | 0.01% |
+54,505
| New | +$331K |
|
1062
ICU Medical
ICUI
$4.61B
| $305K | 0.01% |
2,193
-1,651
| -43% | -$256K |
|
1063
Concentrix
CNXC
$1.57B
| $304K | 0.01% |
5,463
-24,064
| -81% | -$1.15M |
|
1064
Advanced Micro Devices
AMD
$789B
| $304K | 0.01% |
+2,957
| New | +$329K |
|
|
DESP
1065
DELISTED
Despegar.com
DESP
| $303K | 0.01% |
+16,113
| New | +$309K |
|
|
BHR
1066
Braemar Hotels & Resorts
BHR
$142M
| $301K | 0.01% |
120,731
+731
| +0.6% | +$2K |
|
1067
GDS Holdings
GDS
$6.41B
| $300K | 0.01% |
+11,842
| New | +$359K |
|
|
TPH
1068
DELISTED
Tri Pointe Homes
TPH
| $295K | 0.01% |
+9,251
| New | +$316K |
|
|
CSGS
1069
DELISTED
CSG Systems International
CSGS
| $295K | 0.01% |
+4,878
| New | +$290K |
|
1070
Nordic American Tanker
NAT
$1.37B
| $294K | 0.01% |
119,335
+96,834
| +430% | +$255K |
|
1071
Hilltop Holdings
HTH
$2.24B
| $291K | 0.01% |
+9,541
| New | +$290K |
|
1072
Perella Weinberg Partners
PWP
$1.3B
| $288K | 0.01% |
15,660
-15,636
| -50% | -$355K |
|
1073
Eagle Bancorp
EGBN
$845M
| $287K | 0.01% |
+13,662
| New | +$324K |
|
1074
PRA Group
PRAA
$755M
| $287K | 0.01% |
+13,913
| New | +$295K |
|
1075
Dole
DOLE
$1.32B
| $286K | 0.01% |
+19,811
| New | +$274K |
|
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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.