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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
HES
1101
DELISTED
Hess
HES
– –
-5,288
Closed -$718K
HESM icon
1102
Hess Midstream
HESM
$5.11B
– –
-9,882
Closed -$349K
HIG icon
1103
Hartford Financial Services
HIG
$39.3B
– –
-4,053
Closed -$477K
HII icon
1104
Huntington Ingalls Industries
HII
$12.8B
– –
-842
Closed -$223K
HIMS icon
1105
Hims & Hers Health
HIMS
$7.31B
– –
-115,847
Closed -$2.13M
HON icon
1106
Honeywell
HON
$78B
– –
-2,273
Closed -$443K
HPQ icon
1107
HP
HPQ
$27.5B
– –
-8,117
Closed -$291K
HR icon
1108
Healthcare Realty
HR
$6.84B
– –
-13,461
Closed -$244K
HRB icon
1109
H&R Block
HRB
$5.86B
– –
-3,217
Closed -$204K
HSIC icon
1110
Henry Schein
HSIC
$9.82B
– –
-28,576
Closed -$2.08M
HST icon
1111
Host Hotels & Resorts
HST
$16B
– –
-10,592
Closed -$186K
HUM icon
1112
Humana
HUM
$46.2B
– –
-1,788
Closed -$566K
HURN icon
1113
Huron Consulting
HURN
$2.42B
– –
-2,725
Closed -$296K
IBM icon
1114
IBM
IBM
$224B
– –
-3,245
Closed -$717K
ICFI icon
1115
ICF International
ICFI
$1.72B
– –
-14,325
Closed -$2.39M
IDCC icon
1116
InterDigital
IDCC
$8.89B
– –
-1,517
Closed -$215K
IDXX icon
1117
Idexx Laboratories
IDXX
$46.2B
– –
-815
Closed -$412K
IEX icon
1118
IDEX
IEX
$17.3B
– –
-1,320
Closed -$283K
IFF icon
1119
International Flavors & Fragrances
IFF
$21.9B
– –
-2,323
Closed -$244K
INDB icon
1120
Independent Bank
INDB
$3.97B
– –
-9,393
Closed -$555K
INN
1121
Summit Hotel Properties
INN
$700M
– –
-20,038
Closed -$137K
INTC icon
1122
Intel
INTC
$513B
– –
-20,253
Closed -$475K
INTU icon
1123
Intuit
INTU
$89B
– –
-871
Closed -$541K
IPG
1124
DELISTED
Interpublic Group of Companies
IPG
– –
-11,178
Closed -$354K
IQV icon
1125
IQVIA
IQV
$39.3B
– –
-1,155
Closed -$274K
43 44
45
46 47

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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.