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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
T icon
1276
AT&T
T
$163B
– –
-26,147
Closed -$575K
TAP icon
1277
Molson Coors Class B
TAP
$8.1B
– –
-4,059
Closed -$233K
TECH icon
1278
Bio-Techne
TECH
$11.3B
– –
-2,553
Closed -$204K
TER icon
1279
Teradyne
TER
$59.3B
– –
-3,328
Closed -$446K
TERN
1280
DELISTED
Terns Pharmaceuticals
TERN
– –
-26,269
Closed -$219K
TFC icon
1281
Truist Financial
TFC
$64B
– –
-11,066
Closed -$473K
TGT icon
1282
Target
TGT
$68B
– –
-2,443
Closed -$381K
TMO icon
1283
Thermo Fisher Scientific
TMO
$220B
– –
-1,080
Closed -$668K
TMUS icon
1284
T-Mobile US
TMUS
$190B
– –
-7,319
Closed -$1.51M
TNDM icon
1285
Tandem Diabetes Care
TNDM
$1.53B
– –
-4,816
Closed -$204K
TNL icon
1286
Travel + Leisure Co
TNL
$4.7B
– –
-6,658
Closed -$307K
TPR icon
1287
Tapestry
TPR
$32.8B
– –
-5,718
Closed -$269K
TRMB icon
1288
Trimble
TRMB
$13.9B
– –
-7,922
Closed -$492K
TROW icon
1289
T. Rowe Price
TROW
$24.3B
– –
-1,859
Closed -$203K
TRV icon
1290
Travelers Companies
TRV
$80.2B
– –
-1,453
Closed -$340K
TSCO icon
1291
Tractor Supply
TSCO
$18.1B
– –
-4,300
Closed -$250K
TSLA icon
1292
Tesla
TSLA
$1.3T
– –
-7,276
Closed -$1.9M
TTEK icon
1293
Tetra Tech
TTEK
$9.07B
– –
-5,675
Closed -$268K
TXT icon
1294
Textron
TXT
$15.4B
– –
-5,523
Closed -$489K
TYL icon
1295
Tyler Technologies
TYL
$12.8B
– –
-436
Closed -$255K
UPBD icon
1296
Upbound Group
UPBD
$1.16B
– –
-8,033
Closed -$257K
URI icon
1297
United Rentals
URI
$72.4B
– –
-436
Closed -$353K
USB icon
1298
US Bancorp
USB
$99.6B
– –
-9,392
Closed -$429K
UVV icon
1299
Universal Corp
UVV
$1.27B
– –
-4,271
Closed -$227K
VICI icon
1300
VICI Properties
VICI
$29.4B
– –
-13,462
Closed -$448K
50 51
52
53 54

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AT
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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.