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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
Cap. Flow
-$1.04B
Cap. Flow %
-92.28%
Top 10 Hldgs %
8.34%
Holding
1,215
New
284
Increased
139
Reduced
338
Closed
449

Top Buys

Rank Stock Value
1
CDE icon
Coeur Mining
CDE
+$11.4M
2
TPG icon
TPG
TPG
+$9.58M
3
SOFI icon
SoFi Technologies
SOFI
+$7.05M
4
FWONK icon
Liberty Media Series C
FWONK
+$6.49M
5
Z icon
Zillow
Z
+$6.11M

Top Sells

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$30.9M
2
WMT icon
Walmart Inc
WMT
+$15.7M
3
CVX icon
Chevron
CVX
+$15M
4
SPG icon
Simon Property Group
SPG
+$12.5M
5
BROS icon
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
QUBT icon
1076
Quantum Computing Inc
QUBT
$1.85B
– –
-81,575
Closed -$837K
RARE icon
1077
Ultragenyx Pharmaceutical
RARE
$2.82B
– –
-9,071
Closed -$209K
RBC icon
1078
RBC Bearings
RBC
$18.5B
– –
-5,813
Closed -$2.61M
RCAT icon
1079
Red Cat Holdings
RCAT
$1.31B
– –
-25,926
Closed -$206K
RCUS icon
1080
Arcus Biosciences
RCUS
$3.71B
– –
-60,614
Closed -$1.44M
RES icon
1081
RPC Inc
RES
$1.31B
– –
-74,674
Closed -$406K
RGEN icon
1082
Repligen
RGEN
$7.73B
– –
-8,425
Closed -$1.38M
RGA icon
1083
Reinsurance Group of America
RGA
$15.7B
– –
-19,473
Closed -$3.96M
RGLD icon
1084
Royal Gold
RGLD
$16.5B
– –
-28,774
Closed -$6.4M
RGTI icon
1085
Rigetti Computing
RGTI
$5.08B
– –
-18,610
Closed -$412K
RHP icon
1086
Ryman Hospitality Properties
RHP
$8.2B
– –
-6,075
Closed -$575K
RITM icon
1087
Rithm Capital
RITM
$5.11B
– –
-784,237
Closed -$8.55M
RLI icon
1088
RLI Corp
RLI
$5.53B
– –
-31,467
Closed -$2.01M
RNG icon
1089
RingCentral
RNG
$3.32B
– –
-221,917
Closed -$6.41M
RNR icon
1090
RenaissanceRe
RNR
$13.7B
– –
-4,263
Closed -$1.2M
ROL icon
1091
Rollins
ROL
$21.1B
– –
-22,432
Closed -$1.35M
RR icon
1092
Richtech Robotics
RR
$369M
– –
-47,183
Closed -$152K
RRC icon
1093
Range Resources
RRC
$8.89B
– –
-97,820
Closed -$3.45M
RRX icon
1094
Regal Rexnord
RRX
$14.2B
– –
-14,361
Closed -$2.02M
RUN icon
1095
Sunrun
RUN
$2.73B
– –
-24,406
Closed -$449K
SAFE
1096
Safehold
SAFE
$1.2B
– –
-13,657
Closed -$187K
SAH icon
1097
Sonic Automotive
SAH
$3.08B
– –
-7,807
Closed -$483K
SAM icon
1098
Boston Beer
SAM
$1.78B
– –
-24,632
Closed -$4.81M
SBAC icon
1099
SBA Communications
SBAC
$18.8B
– –
-7,121
Closed -$1.38M
SBCF icon
1100
Seacoast Banking Corp of Florida
SBCF
$3.27B
– –
-18,020
Closed -$566K
42 43
44
45 46

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IP
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JAFL
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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.