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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
SLB icon
101
SLB Ltd
SLB
$75.4B
$5.14M 0.21%
152,202
+72,300
+90% +$2.51M
SAM icon
102
Boston Beer
SAM
$1.92B
$5.09M 0.2%
26,692
+8,120
+44% +$1.87M
SKYW icon
103
Skywest
SKYW
$4.56B
$5.08M 0.2%
49,300
+29,514
+149% +$2.81M
SCCO icon
104
Southern Copper
SCCO
$163B
$5.05M 0.2%
51,836
-47,175
-48% -$4.15M
IDXX icon
105
Idexx Laboratories
IDXX
$46.4B
$5.04M 0.2%
9,399
+7,286
+345% +$3.48M
DDS icon
106
Dillards
DDS
$9.65B
$5M 0.2%
11,955
-1,861
-13% -$694K
GS icon
107
Goldman Sachs
GS
$311B
$4.99M 0.2%
7,049
+930
+15% +$539K
FIBK icon
108
First Interstate BancSystem
FIBK
$3.73B
$4.98M 0.2%
172,791
+69,385
+67% +$1.87M
SNPS icon
109
Synopsys
SNPS
$77.3B
$4.93M 0.2%
9,625
+5,839
+154% +$2.72M
PNC icon
110
PNC Financial Services
PNC
$101B
$4.89M 0.19%
26,229
-382
-1% -$64.6K
SLM icon
111
SLM Corp
SLM
$5.24B
$4.88M 0.19%
148,749
+117,566
+377% +$3.6M
OWL icon
112
Blue Owl Capital
OWL
$7.82B
$4.85M 0.19%
+252,500
New +$4.67M
FUL icon
113
H.B. Fuller
FUL
$3.17B
$4.8M 0.19%
79,875
+32,890
+70% +$1.81M
SEIC icon
114
SEI Investments
SEIC
$12.6B
$4.79M 0.19%
53,278
+50,383
+1,740% +$4.06M
JBHT icon
115
JB Hunt Transport Services
JBHT
$25.8B
$4.78M 0.19%
33,266
+19,100
+135% +$2.64M
APPN icon
116
Appian
APPN
$2.09B
$4.78M 0.19%
159,948
+122,278
+325% +$3.67M
WFC icon
117
Wells Fargo
WFC
$267B
$4.75M 0.19%
59,275
+2,364
+4% +$170K
DRH icon
118
Diamondrock Hospitality Co
DRH
$2.72B
$4.7M 0.19%
613,744
-137,079
-18% -$1.02M
HUM icon
119
Humana
HUM
$43.5B
$4.68M 0.19%
19,153
+18,227
+1,968% +$4.54M
KNX icon
120
Knight Transportation
KNX
$11.7B
$4.67M 0.19%
105,666
-17,633
-14% -$750K
NDAQ icon
121
Nasdaq
NDAQ
$52.3B
$4.66M 0.19%
52,158
+2,306
+5% +$184K
HEI.A icon
122
HEICO Corp Class A
HEI.A
$37.2B
$4.66M 0.19%
18,006
-7
-0% -$1.53K
FTAI icon
123
FTAI Aviation
FTAI
$22.8B
$4.65M 0.19%
40,438
+28,477
+238% +$3.19M
AR icon
124
Antero Resources
AR
$11B
$4.65M 0.19%
115,330
+36,200
+46% +$1.37M
VAC icon
125
Marriott Vacations Worldwide
VAC
$3.39B
$4.64M 0.19%
64,227
+34,932
+119% +$2.2M
3 4
5
6 7

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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.