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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
+10.07%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$666M
AUM Growth
-$632M
Cap. Flow
-$687M
Cap. Flow %
-103.08%
Top 10 Hldgs %
40.61%
Holding
1,194
New
130
Increased
97
Reduced
186
Closed
768

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$93.3M
2
P
Everpure Inc
P
+$18.1M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$15.9M
4
WDAY icon
Workday
WDAY
+$15.8M
5
APP icon
Applovin
APP
+$15.5M

Top Sells

Rank Stock Value
1
LULU icon
lululemon athletica
LULU
+$17.1M
2
KSS icon
Kohl's
KSS
+$11.8M
3
VMBS icon
Vanguard Mortgage-Backed Securities ETF
VMBS
+$11.6M
4
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$8.19M
5
CNGL
Canna-Global Acquisition Corp. Class A Common Stock
CNGL
+$5.88M

Sector Composition

Rank Sector Weight
1 Communication Services 26.63%
2 Technology 15.32%
3 Financials 8.5%
4 Industrials 8.5%
5 Consumer Discretionary 7.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LEN.B icon
101
Lennar Class B
LEN.B
$20.1B
$1.07M 0.16%
8,416
– –
BGC icon
102
BGC Group
BGC
$4.97B
$1.05M 0.16%
145,336
– –
MGY icon
103
Magnolia Oil & Gas
MGY
$5.86B
$1.04M 0.16%
49,055
-21,048
-30% -$461K
BSY icon
104
Bentley Systems
BSY
$10.7B
$1.04M 0.16%
19,961
-6,727
-25% -$346K
PPC icon
105
Pilgrim's Pride
PPC
$6.56B
$1.02M 0.15%
+36,925
New +$940K
RYZ
106
Ryerson Holding Corp
RYZ
$1.4B
$1.02M 0.15%
29,438
+10,269
+54% +$306K
DBRG icon
107
DigitalBridge
DBRG
$2.95B
$1.02M 0.15%
58,087
+27,916
+93% +$460K
GTES icon
108
Gates Industrial Corporation Ltd.
GTES
$7.24B
$1.01M 0.15%
75,097
+61,817
+465% +$731K
RCM
109
DELISTED
R1 RCM Inc. Common Stock
RCM
$1M 0.15%
+94,977
New +$1.08M
VSXY
110
Victoria's Secret
VSXY
$7.43B
$987K 0.15%
37,191
+26,636
+252% +$565K
BFAM icon
111
Bright Horizons
BFAM
$3.89B
$981K 0.15%
+10,411
New +$888K
LZ icon
112
LegalZoom.com
LZ
$971M
$981K 0.15%
86,782
+56,492
+187% +$615K
CWB icon
113
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.64B
$960K 0.14%
13,299
-5,194
-28% -$353K
SCS
114
DELISTED
Steelcase
SCS
$954K 0.14%
70,528
-3,745
-5% -$44.4K
LTH icon
115
Life Time Group Holdings
LTH
$9.72B
$951K 0.14%
63,036
-17,208
-21% -$247K
PDCO
116
DELISTED
Patterson Companies, Inc.
PDCO
$942K 0.14%
33,094
-2,942
-8% -$86.6K
BTU icon
117
Peabody Energy
BTU
$2.87B
$940K 0.14%
38,670
+23,206
+150% +$560K
MOD icon
118
Modine Manufacturing
MOD
$10.2B
$940K 0.14%
15,752
-4,421
-22% -$216K
ZG icon
119
Zillow
ZG
$7.59B
$937K 0.14%
16,522
+10,736
+186% +$460K
SEAT icon
120
Vivid Seats
SEAT
$88.6M
$936K 0.14%
+7,404
New +$1.01M
IR icon
121
Ingersoll Rand
IR
$34.2B
$928K 0.14%
12,001
-15,140
-56% -$1.04M
SANM icon
122
Sanmina
SANM
$11B
$918K 0.14%
17,864
+2,416
+16% +$123K
INTU icon
123
Intuit
INTU
$88.1B
$916K 0.14%
1,466
-1,613
-52% -$890K
HHH icon
124
Howard Hughes
HHH
$4.06B
$912K 0.14%
11,181
– –
EQC
125
DELISTED
Equity Commonwealth
EQC
$905K 0.14%
47,157
+36,407
+339% +$688K
3 4
5
6 7

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Dark Forest Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Dark Forest Capital Management held 1,194 positions worth $666M, down 49% from $1.3B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Dark Forest Capital Management withdrew a net $687M in Q4 2023, closing 768 positions and reducing 186 holdings. Its most notable exit was lululemon athletica, an estimated $17.1M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 27% of assets, up from 6.2% a quarter earlier, followed by Technology and Financials.

Against the trend, Dark Forest Capital Management opened a new position in Everpure Inc worth $18.4M.

  • Dark Forest Capital Management's largest Q4 2023 buy was Everpure Inc: 514,899 shares worth $18.4M.
  • Dark Forest Capital Management added most to Alphabet (Google) Class A in Q4 2023, an estimated $93.3M increase.
  • Dark Forest Capital Management's biggest Q4 2023 reduction was Kohl's, cutting an estimated $11.8M.
  • Dark Forest Capital Management fully exited lululemon athletica in Q4 2023, selling an estimated $17.1M.
  • Dark Forest Capital Management's ten largest holdings make up 41% of its $666M portfolio in Q4 2023.
  • Dark Forest Capital Management opened 130 new positions and closed 768 in Q4 2023.
  • Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $666M.

Based on Dark Forest Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.