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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
+6.88%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.66B
AUM Growth
+$149M
Cap. Flow
+$50.1M
Cap. Flow %
1.89%
Top 10 Hldgs %
6.39%
Holding
1,542
New
400
Increased
350
Reduced
355
Closed
431

Top Buys

Rank Stock Value
1
L icon
Loews
L
+$17.8M
2
INDA icon
iShares MSCI India ETF
INDA
+$17.3M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$16.4M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$16.2M
5
WMT icon
Walmart Inc
WMT
+$10M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$14.9M
2
NVDA icon
NVIDIA
NVDA
+$12.5M
3
BAC icon
Bank of America
BAC
+$12.5M
4
PANW icon
Palo Alto Networks
PANW
+$11.6M
5
AAPL icon
Apple
AAPL
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 18.09%
2 Industrials 14.85%
3 Technology 14.22%
4 Consumer Discretionary 11.61%
5 Healthcare 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CL icon
1201
Colgate-Palmolive
CL
$74.4B
– –
-38,604
Closed -$3.51M
CLNE icon
1202
Clean Energy Fuels
CLNE
$346M
– –
-27,038
Closed -$52.7K
CLVT icon
1203
Clarivate
CLVT
$1.16B
– –
-357,100
Closed -$1.54M
CMG icon
1204
Chipotle Mexican Grill
CMG
$41.5B
– –
-6,691
Closed -$376K
CMPR icon
1205
Cimpress
CMPR
$2.31B
– –
-6,007
Closed -$282K
CMRE icon
1206
Costamare
CMRE
$1.77B
– –
-45,571
Closed -$415K
COHU icon
1207
Cohu
COHU
$2.5B
– –
-32,371
Closed -$623K
COLD icon
1208
Americold
COLD
$4.27B
– –
-38,965
Closed -$648K
COMP icon
1209
Compass
COMP
$9.66B
– –
-148,175
Closed -$931K
COP icon
1210
ConocoPhillips
COP
$141B
– –
-19,090
Closed -$1.71M
COR icon
1211
Cencora
COR
$61.2B
– –
-14,994
Closed -$4.5M
CORT icon
1212
Corcept Therapeutics
CORT
$12B
– –
-3,379
Closed -$248K
COST icon
1213
Costco
COST
$420B
– –
-809
Closed -$801K
CPB icon
1214
Campbell Soup
CPB
$6.87B
– –
-13,110
Closed -$402K
CPRI icon
1215
Capri Holdings
CPRI
$1.74B
– –
-76,614
Closed -$1.36M
CRGY icon
1216
Crescent Energy
CRGY
$3.82B
– –
-13,461
Closed -$116K
CROX icon
1217
Crocs
CROX
$6.55B
– –
-18,118
Closed -$1.83M
CRSR icon
1218
Corsair Gaming
CRSR
$1.55B
– –
-61,669
Closed -$582K
CTRE icon
1219
CareTrust REIT
CTRE
$9.74B
– –
-85,029
Closed -$2.6M
CVCO icon
1220
Cavco Industries
CVCO
$4.55B
– –
-8,785
Closed -$3.82M
CXW icon
1221
CoreCivic
CXW
$3.19B
– –
-11,985
Closed -$253K
D icon
1222
Dominion Energy
D
$59.3B
– –
-56,484
Closed -$3.19M
DAN icon
1223
Dana Inc
DAN
$3.06B
– –
-91,404
Closed -$1.57M
DAWN
1224
DELISTED
Day One Biopharmaceuticals
DAWN
– –
-78,422
Closed -$510K
DBI icon
1225
Designer Brands
DBI
$333M
– –
-171,230
Closed -$408K
47 48
49
50 51

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Dark Forest Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Dark Forest Capital Management held 1,542 positions worth $2.66B, up 6% from $2.51B the previous quarter. Its ten largest holdings account for 6.4% of the portfolio.

Dark Forest Capital Management's Q3 2025 filing shows 400 new, 350 increased, 355 reduced and 431 closed positions. Its largest new stake was iShares MSCI India ETF: 324,340 shares worth $16.9M. The largest sale was Cheniere Energy, an estimated $14.9M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 18% a quarter earlier, followed by Industrials and Technology.

  • Dark Forest Capital Management's largest Q3 2025 buy was iShares MSCI India ETF: 324,340 shares worth $16.9M.
  • Dark Forest Capital Management added most to Loews in Q3 2025, an estimated $17.8M increase.
  • Dark Forest Capital Management's biggest Q3 2025 reduction was Cheniere Energy, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Bank of America in Q3 2025, selling an estimated $12.5M.
  • Dark Forest Capital Management's ten largest holdings make up 6.4% of its $2.66B portfolio in Q3 2025.
  • Dark Forest Capital Management opened 400 new positions and closed 431 in Q3 2025.
  • Dark Forest Capital Management's portfolio value rose 6% quarter-over-quarter to $2.66B.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.