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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
HAPN
1151
Happen Inc
HAPN
$2.24B
– –
-11,440
Closed -$131K
LH icon
1152
Labcorp
LH
$25.9B
– –
-1,607
Closed -$359K
LIN icon
1153
Linde
LIN
$226B
– –
-1,333
Closed -$636K
LKQ icon
1154
LKQ Corp
LKQ
$6.29B
– –
-12,705
Closed -$507K
LMT icon
1155
Lockheed Martin
LMT
$136B
– –
-1,362
Closed -$796K
LNW
1156
DELISTED
Light & Wonder
LNW
– –
-4,611
Closed -$418K
LOB icon
1157
Live Oak Bancshares
LOB
$1.97B
– –
-8,016
Closed -$380K
LPLA icon
1158
LPL Financial
LPLA
$28.6B
– –
-10,837
Closed -$2.52M
LULU icon
1159
lululemon athletica
LULU
$14.6B
– –
-3,143
Closed -$853K
LVS icon
1160
Las Vegas Sands
LVS
$29.6B
– –
-4,728
Closed -$238K
LYB icon
1161
LyondellBasell Industries
LYB
$19.2B
– –
-3,410
Closed -$327K
LYFT icon
1162
Lyft
LYFT
$6.63B
– –
-82,871
Closed -$1.06M
LYV icon
1163
Live Nation Entertainment
LYV
$42.1B
– –
-2,569
Closed -$281K
MAR icon
1164
Marriott International
MAR
$92.3B
– –
-1,261
Closed -$313K
MAS icon
1165
Masco
MAS
$15.3B
– –
-3,801
Closed -$319K
MAT icon
1166
Mattel
MAT
$4.23B
– –
-14,556
Closed -$277K
MBC icon
1167
MasterBrand
MBC
$1.91B
– –
-17,024
Closed -$316K
MBUU icon
1168
Malibu Boats
MBUU
$567M
– –
-9,288
Closed -$360K
MCD icon
1169
McDonald's
MCD
$195B
– –
-2,591
Closed -$789K
MCHP icon
1170
Microchip Technology
MCHP
$46B
– –
-3,400
Closed -$273K
MDLZ icon
1171
Mondelez International
MDLZ
$79.9B
– –
-5,656
Closed -$417K
MET icon
1172
MetLife
MET
$62.1B
– –
-4,689
Closed -$387K
MFA
1173
MFA Financial
MFA
$933M
– –
-15,347
Closed -$195K
MGM icon
1174
MGM Resorts International
MGM
$11.2B
– –
-8,145
Closed -$318K
MKC icon
1175
McCormick & Company Non-Voting
MKC
$14.2B
– –
-2,894
Closed -$238K
45 46
47
48 49

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AT
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OHIF
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HMCP
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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.