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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 | |
|---|---|---|---|---|---|---|
|
AIOT
1126
PowerFleet Inc
AIOT
$583M
| $103K | ﹤0.01% |
23,847
-25,471
| -52% | -$126K |
|
1127
Snap
SNAP
$9.03B
| $95.9K | ﹤0.01% |
11,034
-67,175
| -86% | -$558K |
|
1128
VTEX
VTEX
$709M
| $78.8K | ﹤0.01% |
+11,934
| New | +$70.1K |
|
1129
Payoneer
PAYO
$2.41B
| $76.5K | ﹤0.01% |
11,173
-45,367
| -80% | -$307K |
|
|
CMRC
1130
Commerce.com Inc Series 1
CMRC
$174M
| $73K | ﹤0.01% |
+14,600
| New | +$75.2K |
|
|
LAZR
1131
DELISTED
Luminar Technologies
LAZR
| $69.2K | ﹤0.01% |
+24,107
| New | +$91.6K |
|
1132
Kodak
KODK
$958M
| $61K | ﹤0.01% |
+10,796
| New | +$64.9K |
|
1133
Sundial Growers
SNDL
$315M
| $55K | ﹤0.01% |
+45,416
| New | +$60.5K |
|
1134
Braskem
BAK
$928M
| $54.1K | ﹤0.01% |
+16,497
| New | +$59.8K |
|
1135
iHeartMedia
IHRT
$583M
| $52.8K | ﹤0.01% |
29,980
+3,543
| +13% | +$4.72K |
|
1136
Clean Energy Fuels
CLNE
$355M
| $52.7K | ﹤0.01% |
+27,038
| New | +$46K |
|
1137
Hain Celestial
HAIN
$57M
| $45.9K | ﹤0.01% |
30,186
-73,100
| -71% | -$171K |
|
|
OPTU
1138
Optimum Communications Inc
OPTU
$324M
| $44.7K | ﹤0.01% |
+20,904
| New | +$49K |
|
1139
Altimmune
ALT
$595M
| $39.3K | ﹤0.01% |
+10,165
| New | +$55K |
|
1140
Iovance Biotherapeutics
IOVA
$2.76B
| $32.3K | ﹤0.01% |
18,806
+5,161
| +38% | +$12.8K |
|
1141
Wolfspeed
WOLF
$1.67B
| $30.1K | ﹤0.01% |
+75,548
| New | +$172K |
|
1142
Rackspace Technology
RXT
$1.25B
| $29.2K | ﹤0.01% |
+22,799
| New | +$29.7K |
|
1143
Abbott
ABT
$186B
| – | – |
-2,389
| Closed | -$317K |
|
1144
Arch Capital
ACGL
$33.8B
| – | – |
-37,474
| Closed | -$3.6M |
|
1145
Agree Realty
ADC
$9.42B
| – | – |
-59,501
| Closed | -$4.59M |
|
1146
Analog Devices
ADI
$190B
| – | – |
-3,137
| Closed | -$633K |
|
1147
Adient
ADNT
$1.51B
| – | – |
-83,904
| Closed | -$1.08M |
|
1148
Automatic Data Processing
ADP
$108B
| – | – |
-7,430
| Closed | -$2.27M |
|
1149
Ameren
AEE
$30.2B
| – | – |
-16,540
| Closed | -$1.66M |
|
1150
American Financial Group
AFG
$12.1B
| – | – |
-2,499
| Closed | -$328K |
|
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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.