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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
VMC icon
1301
Vulcan Materials
VMC
$36.9B
– –
-3,449
Closed -$864K
VRSK icon
1302
Verisk Analytics
VRSK
$25B
– –
-2,083
Closed -$558K
VTR icon
1303
Ventas
VTR
$47.9B
– –
-3,686
Closed -$236K
VTRS icon
1304
Viatris
VTRS
$19.1B
– –
-18,894
Closed -$219K
VYX icon
1305
NCR Voyix
VYX
$1.14B
– –
-14,325
Closed -$194K
WAB icon
1306
Wabtec
WAB
$49.3B
– –
-4,650
Closed -$845K
WAT icon
1307
Waters Corp
WAT
$39.9B
– –
-823
Closed -$296K
WBD icon
1308
Warner Bros
WBD
$67.1B
– –
-29,071
Closed -$240K
WDC icon
1309
Western Digital
WDC
$150B
– –
-4,589
Closed -$237K
WEC icon
1310
WEC Energy
WEC
$35.1B
– –
-3,226
Closed -$310K
WELL icon
1311
Welltower
WELL
$171B
– –
-2,754
Closed -$353K
WMB icon
1312
Williams Companies
WMB
$86.1B
– –
-10,997
Closed -$502K
WRB icon
1313
W.R. Berkley
WRB
$26.6B
– –
-6,000
Closed -$340K
WS icon
1314
Worthington Steel
WS
$1.95B
– –
-6,138
Closed -$209K
WST icon
1315
West Pharmaceutical
WST
$24.9B
– –
-788
Closed -$237K
WU icon
1316
Western Union
WU
$2.21B
– –
-26,654
Closed -$318K
WTW icon
1317
Willis Towers Watson
WTW
$32B
– –
-1,140
Closed -$336K
WWW icon
1318
Wolverine World Wide
WWW
$1.55B
– –
-11,055
Closed -$193K
WYNN icon
1319
Wynn Resorts
WYNN
$10.6B
– –
-22,490
Closed -$2.16M
WY icon
1320
Weyerhaeuser
WY
$18.4B
– –
-6,642
Closed -$225K
XLU icon
1321
State Street Utilities Select Sector SPDR ETF
XLU
$22.5B
– –
-556,092
Closed -$22.5M
XMTR icon
1322
Xometry
XMTR
$5.34B
– –
-15,168
Closed -$279K
XYL icon
1323
Xylem
XYL
$28.1B
– –
-2,166
Closed -$292K
YETI icon
1324
Yeti Holdings
YETI
$3.95B
– –
-8,815
Closed -$362K
YEXT icon
1325
Yext
YEXT
$574M
– –
-40,685
Closed -$282K
51 52
53
54 55

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AT
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WM
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OHIF
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HMCP
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ACM
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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.