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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
(+14%)
Cap. Flow
+$165M
Cap. Flow
% of AUM
6.6%
Top 10 Holdings %
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Simon Property Group
SPG
|
+$15M |
| 2 |
Graco
GGG
|
+$10.2M |
| 3 |
iShares TIPS Bond ETF
TIP
|
+$10M |
| 4 |
Kraft Heinz
KHC
|
+$9.33M |
| 5 |
Phillips 66
PSX
|
+$8.74M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CRH
CRH
|
+$23.8M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$23.6M |
| 3 |
Cheniere Energy
LNG
|
+$13.2M |
| 4 |
Amcor
AMCR
|
+$9.83M |
| 5 |
LivaNova
LIVN
|
+$9.42M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.68% |
| 2 | Technology | 15.03% |
| 3 | Industrials | 14.39% |
| 4 | Consumer Discretionary | 11.22% |
| 5 | Healthcare | 9.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1101
Utz Brands
UTZ
$1.25B
| $152K | 0.01% |
12,143
-47,345
| -80% | -$619K |
|
|
MRC
1102
DELISTED
MRC Global
MRC
| $152K | 0.01% |
+11,097
| New | +$134K |
|
1103
Ardmore Shipping
ASC
$689M
| $151K | 0.01% |
+15,779
| New | +$152K |
|
|
ADAM
1104
Adamas Trust
ADAM
$884M
| $151K | 0.01% |
+22,600
| New | +$143K |
|
1105
Arvinas
ARVN
$568M
| $146K | 0.01% |
+19,808
| New | +$146K |
|
|
VERV
1106
DELISTED
Verve Therapeutics
VERV
| $142K | 0.01% |
12,648
-68,477
| -84% | -$390K |
|
1107
Definitive Healthcare
DH
$74.1M
| $141K | 0.01% |
36,224
+19,937
| +122% | +$62.8K |
|
|
UDMY
1108
DELISTED
Udemy
UDMY
| $129K | 0.01% |
18,377
-104,933
| -85% | -$724K |
|
1109
Microvision
MVIS
$81M
| $128K | 0.01% |
+7,513
| New | +$130K |
|
1110
indie Semiconductor
INDI
$851M
| $128K | 0.01% |
35,953
-33,358
| -48% | -$84K |
|
1111
Global Net Lease
GNL
$1.92B
| $124K | 0.01% |
16,463
-23,605
| -59% | -$179K |
|
|
IRBT
1112
DELISTED
iRobot
IRBT
| $122K | ﹤0.01% |
38,905
-10,731
| -22% | -$29.7K |
|
|
AVDX
1113
DELISTED
AvidXchange
AVDX
| $121K | ﹤0.01% |
12,319
-140,044
| -92% | -$1.26M |
|
1114
Evolv Technologies
EVLV
$1.1B
| $118K | ﹤0.01% |
+18,935
| New | +$87.6K |
|
1115
Crescent Energy
CRGY
$3.88B
| $116K | ﹤0.01% |
13,461
-35,111
| -72% | -$307K |
|
1116
Petco
WOOF
$785M
| $115K | ﹤0.01% |
40,771
+10,483
| +35% | +$32.6K |
|
1117
Cipher Digital
CIFR
$7.11B
| $115K | ﹤0.01% |
+24,126
| New | +$78K |
|
1118
Inter&Co
INTR
$2.34B
| $115K | ﹤0.01% |
+15,453
| New | +$103K |
|
1119
Emergent Biosolutions
EBS
$257M
| $112K | ﹤0.01% |
17,491
+3,925
| +29% | +$22.5K |
|
1120
Beyond Meat
BYND
$277M
| $111K | ﹤0.01% |
+31,812
| New | +$92.1K |
|
|
XIFR
1121
XPLR Infrastructure LP
XIFR
$1.08B
| $111K | ﹤0.01% |
13,532
-2,558
| -16% | -$22.2K |
|
|
GENVR
1122
Gen Digital Inc Contingent Value Rights
GENVR
| $111K | ﹤0.01% |
+13,834
| New | +$97.2K |
|
1123
3D Systems Corp
DDD
$620M
| $109K | ﹤0.01% |
+70,695
| New | +$128K |
|
1124
BGC Group
BGC
$4.94B
| $106K | ﹤0.01% |
10,364
-11,194
| -52% | -$103K |
|
1125
Gray Television
GTN
$531M
| $103K | ﹤0.01% |
22,817
+3,280
| +17% | +$12.7K |
|
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Dark Forest Capital Management's Q2 2025 Portfolio in Review
As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.
Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.
- Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
- Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
- Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
- Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
- Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
- Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
- Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.
Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.