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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
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
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
BOKF icon
1201
BOK Financial
BOKF
$8.73B
– –
-32,402
Closed -$3.37M
BPMC
1202
DELISTED
Blueprint Medicines
BPMC
– –
-10,261
Closed -$908K
BRKL
1203
DELISTED
Brookline Bancorp
BRKL
– –
-107,721
Closed -$1.17M
BRSP
1204
BrightSpire Capital
BRSP
$650M
– –
-138,444
Closed -$770K
BURL icon
1205
Burlington
BURL
$23.3B
– –
-898
Closed -$214K
BWA icon
1206
BorgWarner
BWA
$14B
– –
-51,004
Closed -$1.46M
BX icon
1207
Blackstone
BX
$109B
– –
-37,297
Closed -$5.21M
CABO icon
1208
Cable One
CABO
$219M
– –
-1,311
Closed -$348K
CADE
1209
DELISTED
Cadence Bank
CADE
– –
-125,381
Closed -$3.81M
CAH icon
1210
Cardinal Health
CAH
$56B
– –
-1,933
Closed -$266K
CARG icon
1211
CarGurus
CARG
$3.63B
– –
-143,255
Closed -$4.17M
CBT icon
1212
Cabot Corp
CBT
$4.48B
– –
-15,176
Closed -$1.26M
CBU icon
1213
Community Bank
CBU
$3.42B
– –
-39,261
Closed -$2.23M
CCI icon
1214
Crown Castle
CCI
$32.3B
– –
-45,309
Closed -$4.72M
CDNS icon
1215
Cadence Design Systems
CDNS
$94.6B
– –
-1,840
Closed -$468K
CDW icon
1216
CDW
CDW
$17.1B
– –
-5,706
Closed -$914K
CECO icon
1217
Ceco Environmental
CECO
$4.14B
– –
-37,806
Closed -$862K
CENT icon
1218
Central Garden & Pet Co
CENT
$2.76B
– –
-44,607
Closed -$1.64M
CERT icon
1219
Certara
CERT
$1.23B
– –
-10,597
Closed -$105K
CHEF icon
1220
Chefs' Warehouse
CHEF
$4.42B
– –
-4,749
Closed -$259K
CHRS icon
1221
Coherus Oncology
CHRS
$214M
– –
-11,002
Closed -$8.88K
CIB icon
1222
Grupo Cibest SA
CIB
$21.1B
– –
-10,386
Closed -$418K
CLB icon
1223
Core Laboratories
CLB
$521M
– –
-60,340
Closed -$904K
CLOV icon
1224
Clover Health Investments
CLOV
$2.54B
– –
-14,612
Closed -$52.5K
CLSK icon
1225
CleanSpark
CLSK
$3.18B
– –
-34,255
Closed -$230K
47 48
49
50 51

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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.