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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
MOD icon
101
Modine Manufacturing
MOD
$10.3B
$5.54M 0.21%
38,975
+2,904
+8% +$369K
ZION icon
102
Zions Bancorporation
ZION
$10.3B
$5.53M 0.21%
97,794
-20,893
-18% -$1.16M
WFC icon
103
Wells Fargo
WFC
$264B
$5.52M 0.21%
65,823
+6,548
+11% +$531K
FRPT icon
104
Freshpet
FRPT
$3.25B
$5.49M 0.21%
99,688
+57,033
+134% +$3.53M
DDS icon
105
Dillards
DDS
$9.74B
$5.49M 0.21%
8,939
-3,016
-25% -$1.56M
OGE icon
106
OGE Energy
OGE
$9.75B
$5.49M 0.21%
118,616
+32,151
+37% +$1.44M
BLK icon
107
Blackrock
BLK
$177B
$5.44M 0.2%
4,665
-5,194
-53% -$5.81M
PANW icon
108
Palo Alto Networks
PANW
$295B
$5.41M 0.2%
26,552
-60,458
-69% -$11.6M
ALNY icon
109
Alnylam Pharmaceuticals
ALNY
$29.2B
$5.29M 0.2%
+11,598
New +$4.72M
DLTR icon
110
Dollar Tree
DLTR
$25.2B
$5.27M 0.2%
55,888
-12,505
-18% -$1.34M
SFD
111
Smithfield Foods
SFD
$9.93B
$5.25M 0.2%
223,785
+194,399
+662% +$4.75M
GPK icon
112
Graphic Packaging
GPK
$3.62B
$5.23M 0.2%
+267,075
New +$5.81M
ILMN icon
113
Illumina
ILMN
$28.4B
$5.23M 0.2%
55,030
+35,591
+183% +$3.53M
AMP icon
114
Ameriprise Financial
AMP
$48.9B
$5.22M 0.2%
+10,628
New +$5.45M
SBRA icon
115
Sabra Healthcare REIT
SBRA
$5.38B
$5.2M 0.2%
279,183
+257,704
+1,200% +$4.81M
AXTA icon
116
Axalta
AXTA
$8.17B
$5.17M 0.19%
180,533
+133,657
+285% +$4.02M
OXY icon
117
Occidental Petroleum
OXY
$56B
$5.12M 0.19%
108,445
-80,589
-43% -$3.64M
BEN icon
118
Franklin Resources
BEN
$17.3B
$5.11M 0.19%
221,141
+205,194
+1,287% +$5.07M
DLR icon
119
Digital Realty Trust
DLR
$71.8B
$5.11M 0.19%
29,539
+13,027
+79% +$2.23M
DCI icon
120
Donaldson
DCI
$11.4B
$5.11M 0.19%
62,380
+53,971
+642% +$4.07M
C icon
121
Citigroup
C
$227B
$5.07M 0.19%
49,977
-20,531
-29% -$1.95M
MYRG icon
122
MYR Group
MYRG
$5.28B
$5.07M 0.19%
24,373
-676
-3% -$126K
EEM icon
123
iShares MSCI Emerging Markets ETF
EEM
$29.5B
$5.05M 0.19%
+94,524
New +$4.75M
TTWO icon
124
Take-Two Interactive
TTWO
$45.3B
$5.03M 0.19%
19,462
+7,497
+63% +$1.77M
JKHY icon
125
Jack Henry & Associates
JKHY
$11.1B
$5M 0.19%
+33,600
New +$5.58M
3 4
5
6 7

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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.