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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
DHR icon
1276
Danaher
DHR
$144B
– –
-1,231
Closed -$283K
DHT icon
1277
DHT Holdings
DHT
$3.02B
– –
-35,973
Closed -$334K
ECL icon
1278
Ecolab
ECL
$79.9B
– –
-3,142
Closed -$736K
EFC
1279
Ellington Financial
EFC
$1.71B
– –
-54,040
Closed -$655K
EFX icon
1280
Equifax
EFX
$21.4B
– –
-1,628
Closed -$415K
EG icon
1281
Everest Group
EG
$14.4B
– –
-3,071
Closed -$1.11M
EGP icon
1282
EastGroup Properties
EGP
$10.9B
– –
-3,791
Closed -$608K
EIG icon
1283
Employers Holdings
EIG
$889M
– –
-6,356
Closed -$326K
ELS icon
1284
Equity Lifestyle Properties
ELS
$12.6B
– –
-11,421
Closed -$761K
EMB icon
1285
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.7B
– –
-19,141
Closed -$1.7M
EME icon
1286
Emcor
EME
$36B
– –
-2,155
Closed -$978K
EPAM icon
1287
EPAM Systems
EPAM
$5.03B
– –
-2,309
Closed -$540K
EQT icon
1288
EQT Corp
EQT
$32.3B
– –
-16,000
Closed -$738K
ERIE icon
1289
Erie Indemnity
ERIE
$13.2B
– –
-769
Closed -$317K
ESS icon
1290
Essex Property Trust
ESS
$18.5B
– –
-1,583
Closed -$452K
EW icon
1291
Edwards Lifesciences
EW
$51.7B
– –
-10,404
Closed -$770K
EXAS
1292
DELISTED
Exact Sciences
EXAS
– –
-4,937
Closed -$277K
AGNT
1293
AGNT Inc
AGNT
$734M
– –
-17,713
Closed -$204K
FAST icon
1294
Fastenal
FAST
$59.5B
– –
-20,956
Closed -$753K
FATE icon
1295
Fate Therapeutics
FATE
$326M
– –
-61,220
Closed -$101K
FCN icon
1296
FTI Consulting
FCN
$4.18B
– –
-4,833
Closed -$924K
FIZZ icon
1297
National Beverage
FIZZ
$3.01B
– –
-4,764
Closed -$203K
FLGT icon
1298
Fulgent Genetics
FLGT
$527M
– –
-13,158
Closed -$243K
FLNC icon
1299
Fluence Energy
FLNC
$2.44B
– –
-37,537
Closed -$596K
FLYW icon
1300
Flywire
FLYW
$2.16B
– –
-29,820
Closed -$615K
50 51
52
53 54

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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.