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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
CHRW icon
1251
C.H. Robinson
CHRW
$17.5B
– –
-3,234
Closed -$334K
CIFR icon
1252
Cipher Digital
CIFR
$7.13B
– –
-27,587
Closed -$128K
CLF icon
1253
Cleveland-Cliffs
CLF
$6.99B
– –
-53,209
Closed -$500K
CMG icon
1254
Chipotle Mexican Grill
CMG
$41.5B
– –
-4,429
Closed -$267K
CMS icon
1255
CMS Energy
CMS
$22.3B
– –
-10,472
Closed -$698K
CNMD icon
1256
CONMED
CNMD
$1.47B
– –
-4,126
Closed -$282K
CRC icon
1257
California Resources
CRC
$4.62B
– –
-6,797
Closed -$353K
CRI icon
1258
Carter's
CRI
$1.47B
– –
-24,583
Closed -$1.33M
CRK icon
1259
Comstock Resources
CRK
$3.94B
– –
-10,650
Closed -$194K
CSCO icon
1260
Cisco
CSCO
$479B
– –
-10,474
Closed -$620K
CTKB icon
1261
Cytek Biosciences
CTKB
$546M
– –
-49,847
Closed -$324K
CTRA
1262
DELISTED
Coterra Energy
CTRA
– –
-36,884
Closed -$942K
CUZ icon
1263
Cousins Properties
CUZ
$4.88B
– –
-11,151
Closed -$342K
CVBF icon
1264
CVB Financial
CVBF
$3.99B
– –
-13,711
Closed -$294K
CWB icon
1265
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.69B
– –
-14,606
Closed -$1.14M
CWEN icon
1266
Clearway Energy Class C
CWEN
$6.7B
– –
-25,178
Closed -$655K
CWST icon
1267
Casella Waste Systems
CWST
$5.69B
– –
-18,610
Closed -$1.97M
CWT icon
1268
California Water Service
CWT
$3.12B
– –
-12,127
Closed -$550K
CX icon
1269
Cemex
CX
$16.3B
– –
-10,534
Closed -$59.4K
CXW icon
1270
CoreCivic
CXW
$3.19B
– –
-21,114
Closed -$459K
CYBR
1271
DELISTED
CyberArk
CYBR
– –
-676
Closed -$225K
DCI icon
1272
Donaldson
DCI
$11.4B
– –
-17,373
Closed -$1.17M
DDD icon
1273
3D Systems Corp
DDD
$613M
– –
-51,102
Closed -$168K
DG icon
1274
Dollar General
DG
$27.9B
– –
-5,255
Closed -$398K
DGX icon
1275
Quest Diagnostics
DGX
$26.3B
– –
-2,493
Closed -$376K
49 50
51
52 53

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AT
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OHIF
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HMCP
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ACM
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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.