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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
+5.34%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$407M
AUM Growth
-$182M
Cap. Flow
-$198M
Cap. Flow %
-48.62%
Top 10 Hldgs %
20.41%
Holding
1,725
New
514
Increased
247
Reduced
247
Closed
619

Top Buys

Rank Stock Value
1
NSTC
Northern Star Investment Corp. III
NSTC
+$5.99M
2
TTC icon
Toro Company
TTC
+$5.07M
3
ACM icon
Aecom
ACM
+$4.77M
4
NSTD
Northern Star Investment Corp. IV
NSTD
+$4.6M
5
MDH
MDH Acquisition Corp.
MDH
+$4.42M

Top Sells

Rank Stock Value
1
ENPC
Executive Network Partnering Corporation
ENPC
+$23.9M
2
ASZ
Austerlitz Acquisition Corporation II
ASZ
+$11.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$8.14M
4
SNRH
Senior Connect Acquisition Corp. I Class A Common Stock
SNRH
+$7.68M
5
AUS
Austerlitz Acquisition Corporation I
AUS
+$6.96M

Sector Composition

Rank Sector Weight
1 Financials 58.86%
2 Healthcare 8.81%
3 Industrials 8.57%
4 Technology 5.6%
5 Energy 5.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BY icon
1176
Byline Bancorp
BY
$1.76B
– –
-104
Closed -$2K
BBBY
1177
Bed Bath & Beyond
BBBY
$442M
– –
-76,084
Closed -$1.69M
C icon
1178
Citigroup
C
$226B
– –
-228
Closed -$10K
CARG icon
1179
CarGurus
CARG
$3.47B
– –
-323
Closed -$5K
CARS icon
1180
Cars.com
CARS
$660M
– –
-430
Closed -$5K
CASH icon
1181
Pathward Financial
CASH
$1.8B
– –
-690
Closed -$23K
CAT icon
1182
Caterpillar
CAT
$387B
– –
-37
Closed -$6K
CBL
1183
CBL Properties
CBL
$1.75B
– –
-17
Closed –
CBOE icon
1184
Cboe Global Markets
CBOE
$29.9B
– –
-40
Closed -$5K
CBT icon
1185
Cabot Corp
CBT
$4.52B
– –
-7,105
Closed -$454K
CC icon
1186
Chemours
CC
$2.37B
– –
-16,643
Closed -$410K
CCB icon
1187
Coastal Financial
CCB
$693M
– –
-4,086
Closed -$162K
CCI icon
1188
Crown Castle
CCI
$32.2B
– –
-66
Closed -$10K
CCL icon
1189
Carnival Corporation Ltd
CCL
$39.7B
– –
-427
Closed -$3K
CCNE icon
1190
CNB Financial Corp
CCNE
$1.03B
– –
-6,501
Closed -$153K
CE icon
1191
Celanese
CE
$4.82B
– –
-1,874
Closed -$169K
CERS icon
1192
Cerus
CERS
$474M
– –
-24,804
Closed -$89K
CFLT
1193
DELISTED
Confluent
CFLT
– –
-231
Closed -$5K
CHRS icon
1194
Coherus Oncology
CHRS
$196M
– –
-1,129
Closed -$11K
CLDX icon
1195
Celldex Therapeutics
CLDX
$3.28B
– –
-3,492
Closed -$98K
CLF icon
1196
Cleveland-Cliffs
CLF
$6.99B
– –
-305
Closed -$4K
CLOV icon
1197
Clover Health Investments
CLOV
$2.51B
– –
-35,070
Closed -$60K
CMA
1198
DELISTED
Comerica
CMA
– –
-2
Closed –
CME icon
1199
CME Group
CME
$94.8B
– –
-41
Closed -$7K
CNK icon
1200
Cinemark Holdings
CNK
$4.32B
– –
-382
Closed -$5K
46 47
48
49 50

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AT
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ACM
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Dark Forest Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Dark Forest Capital Management held 1,725 positions worth $407M, down 31% from $589M the previous quarter. Its ten largest holdings account for 20% of the portfolio.

Dark Forest Capital Management withdrew a net $198M in Q4 2022, closing 619 positions and reducing 247 holdings. Its most notable exit was Executive Network Partnering Corporation, an estimated $23.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 59% of assets, up from 55% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Dark Forest Capital Management opened a new position in Toro Company worth $5.42M.

  • Dark Forest Capital Management's largest Q4 2022 buy was Toro Company: 47,868 shares worth $5.42M.
  • Dark Forest Capital Management added most to Northern Star Investment Corp. III in Q4 2022, an estimated $5.99M increase.
  • Dark Forest Capital Management's biggest Q4 2022 reduction was iShares TIPS Bond ETF, cutting an estimated $8.14M.
  • Dark Forest Capital Management fully exited Executive Network Partnering Corporation in Q4 2022, selling an estimated $23.9M.
  • Dark Forest Capital Management's ten largest holdings make up 20% of its $407M portfolio in Q4 2022.
  • Dark Forest Capital Management opened 514 new positions and closed 619 in Q4 2022.
  • Dark Forest Capital Management's portfolio value fell 31% quarter-over-quarter to $407M.

Based on Dark Forest Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.