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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
-5.08%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.2B
AUM Growth
+$1.52B
Cap. Flow
+$1.68B
Cap. Flow %
76.49%
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$27.3M
2
CRH icon
CRH
CRH
+$12.6M
3
MSFT icon
Microsoft
MSFT
+$12.2M
4
AMCR icon
Amcor
AMCR
+$12.2M
5
LIVN icon
LivaNova
LIVN
+$11.2M

Top Sells

Rank Stock Value
1
TTD icon
Trade Desk
TTD
+$9.58M
2
APP icon
Applovin
APP
+$6.9M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$5M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$4.89M
5
GWRE icon
Guidewire Software
GWRE
+$4.75M

Sector Composition

Rank Sector Weight
1 Financials 16.4%
2 Industrials 14.7%
3 Technology 12.79%
4 Consumer Discretionary 11.74%
5 Healthcare 9.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HWM icon
101
Howmet Aerospace
HWM
$114B
$4.38M 0.2%
33,787
+29,692
+725% +$3.77M
DBX icon
102
Dropbox
DBX
$8.11B
$4.37M 0.2%
+163,542
New +$4.75M
CMI icon
103
Cummins
CMI
$88.5B
$4.36M 0.2%
+13,896
New +$4.9M
KMB icon
104
Kimberly-Clark
KMB
$36.3B
$4.35M 0.2%
30,586
+7,354
+32% +$991K
PNFP icon
105
Pinnacle Financial Partners Inc
PNFP
$16.1B
$4.34M 0.2%
+40,905
New +$4.69M
MCO icon
106
Moody's
MCO
$82.3B
$4.32M 0.2%
9,276
+4,872
+111% +$2.35M
MGY icon
107
Magnolia Oil & Gas
MGY
$5.98B
$4.31M 0.2%
+170,720
New +$4.14M
FCX icon
108
Freeport-McMoran
FCX
$97.2B
$4.3M 0.2%
+113,525
New +$4.34M
BRKR icon
109
Bruker
BRKR
$8.03B
$4.3M 0.2%
+102,917
New +$5.35M
NEE icon
110
NextEra Energy
NEE
$177B
$4.25M 0.19%
59,907
+50,183
+516% +$3.54M
WSO icon
111
Watsco Inc
WSO
$13.6B
$4.24M 0.19%
8,333
+7,510
+913% +$3.7M
AMRX icon
112
Amneal Pharmaceuticals
AMRX
$5.75B
$4.19M 0.19%
499,707
+484,818
+3,256% +$4.05M
CARG icon
113
CarGurus
CARG
$3.45B
$4.17M 0.19%
143,255
+136,587
+2,048% +$4.78M
NMIH icon
114
NMI Holdings
NMIH
$3.37B
$4.16M 0.19%
+115,430
New +$4.2M
OGE icon
115
OGE Energy
OGE
$9.74B
$4.12M 0.19%
89,709
+76,227
+565% +$3.32M
LNT icon
116
Alliant Energy
LNT
$18B
$4.1M 0.19%
63,637
+53,579
+533% +$3.28M
WD icon
117
Walker & Dunlop
WD
$1.54B
$4.09M 0.19%
+47,918
New +$4.29M
WFC icon
118
Wells Fargo
WFC
$263B
$4.09M 0.19%
56,911
+53,362
+1,504% +$4.01M
NEU icon
119
NewMarket
NEU
$8.16B
$4.07M 0.18%
+7,185
New +$3.79M
CPNG icon
120
Coupang
CPNG
$29.5B
$4.06M 0.18%
185,182
+152,161
+461% +$3.54M
RLI icon
121
RLI Corp
RLI
$5.9B
$4.04M 0.18%
50,256
+43,198
+612% +$3.29M
OKE icon
122
Oneok
OKE
$54.9B
$4.01M 0.18%
40,372
+32,448
+409% +$3.22M
MTDR icon
123
Matador Resources
MTDR
$6.13B
$4M 0.18%
78,319
+57,019
+268% +$3.15M
CCC
124
CCC Intelligent Solutions
CCC
$4.01B
$3.97M 0.18%
+439,545
New +$4.56M
KR icon
125
Kroger
KR
$34.7B
$3.96M 0.18%
+58,572
New +$3.71M
3 4
5
6 7

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Dark Forest Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Dark Forest Capital Management held 1,491 positions worth $2.2B, up 225% from $678M the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.

Dark Forest Capital Management deployed $1.68B of net new capital in Q1 2025, opening 604 new positions and adding to 497 existing holdings. Its largest new stake was Palo Alto Networks: 55,911 shares worth $9.54M.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Applovin, an estimated $6.9M trimmed.

  • Dark Forest Capital Management's largest Q1 2025 buy was Palo Alto Networks: 55,911 shares worth $9.54M.
  • Dark Forest Capital Management added most to Cheniere Energy in Q1 2025, an estimated $27.3M increase.
  • Dark Forest Capital Management's biggest Q1 2025 reduction was Applovin, cutting an estimated $6.9M.
  • Dark Forest Capital Management fully exited Trade Desk in Q1 2025, selling an estimated $9.58M.
  • Dark Forest Capital Management's ten largest holdings make up 7.2% of its $2.2B portfolio in Q1 2025.
  • Dark Forest Capital Management opened 604 new positions and closed 295 in Q1 2025.
  • Dark Forest Capital Management's portfolio value rose 225% quarter-over-quarter to $2.2B.

Based on Dark Forest Capital Management's 13F filing for Q1 2025, filed 15 May 2025.