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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
NEX
101
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$956K 0.24%
103,481
-121,658
-54% -$1.19M
INSW icon
102
International Seaways
INSW
$4.61B
$954K 0.23%
+25,757
New +$1.04M
MSAI icon
103
MultiSensor AI
MSAI
$10.3M
$933K 0.23%
2,286
+331
+17% +$134K
DAN icon
104
Dana Inc
DAN
$2.94B
$924K 0.23%
61,076
-121,225
-66% -$1.88M
TZPS
105
DELISTED
TZP Strategies Acquisition Corp. Class A Ordinary Share
TZPS
$910K 0.22%
+90,054
New +$901K
MLAI
106
DELISTED
McLaren Technology Acquisition Corp. Class A Common Stock
MLAI
$901K 0.22%
88,261
+16,736
+23% +$169K
FAAS
107
DELISTED
DigiAsia
FAAS
$901K 0.22%
87,745
– –
FATP
108
DELISTED
Fat Projects Acquisition Corp Class A Ordinary Share
FATP
$895K 0.22%
88,247
– –
NGC
109
DELISTED
Northern Genesis Acquisition Corp. III
NGC
$886K 0.22%
+88,247
New +$876K
AMOD
110
Alpha Modus Holdings
AMOD
$21.5M
$856K 0.21%
2,124
+1,039
+96% +$415K
PSPC
111
DELISTED
Post Holdings Partnering Corporation
PSPC
$852K 0.21%
85,796
+43,663
+104% +$429K
DK icon
112
Delek US
DK
$3.6B
$847K 0.21%
31,386
-30,574
-49% -$902K
BRIV
113
DELISTED
B. Riley Principal 250 Merger Corp. Class A common stock
BRIV
$843K 0.21%
84,662
+4,407
+5% +$43.5K
THCP
114
DELISTED
Thunder Bridge Capital Partners IV, Inc. Class A Common Stock
THCP
$795K 0.2%
+80,000
New +$785K
WLY icon
115
John Wiley & Sons Class A
WLY
$2.72B
$792K 0.19%
19,768
+19,622
+13,440% +$821K
CXAC
116
DELISTED
C5 Acquisition Corporation
CXAC
$792K 0.19%
+77,483
New +$783K
NBST
117
DELISTED
Newbury Street Acquisition Corporation Common Stock
NBST
$787K 0.19%
78,607
+58,801
+297% +$583K
KRNL
118
DELISTED
Kernel Group Holdings, Inc. Class A Ordinary Shares
KRNL
$770K 0.19%
76,275
+9,000
+13% +$90.2K
NPAB
119
DELISTED
New Providence Acquisition Corp. II Class A Common Stock
NPAB
$746K 0.18%
+73,349
New +$739K
FCPT icon
120
Four Corners Property Trust
FCPT
$2.75B
$733K 0.18%
28,265
-35,827
-56% -$923K
WAFD icon
121
WaFd
WAFD
$2.77B
$733K 0.18%
21,836
-12,666
-37% -$443K
O icon
122
Realty Income
O
$58.2B
$726K 0.18%
11,448
-14,365
-56% -$892K
PNTM
123
DELISTED
Pontem Corporation
PNTM
$721K 0.18%
71,316
+8,069
+13% +$80.9K
KOS icon
124
Kosmos Energy
KOS
$1.47B
$721K 0.18%
113,311
-220,504
-66% -$1.38M
NAPA
125
DELISTED
The Duckhorn Portfolio, Inc.
NAPA
$713K 0.18%
43,052
-64,108
-60% -$986K
3 4
5
6 7

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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.