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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
LivaNova
LIVN
+$9.42M

Sector Composition

Rank Sector Weight
1 Financials 17.68%
2 Technology 15.03%
3 Industrials 14.39%
4 Consumer Discretionary 11.22%
5 Healthcare 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GD icon
1301
General Dynamics
GD
$105B
– –
-10,896
Closed -$2.97M
GEHC icon
1302
GE HealthCare
GEHC
$31.8B
– –
-37,785
Closed -$3.05M
GES
1303
DELISTED
Guess Inc
GES
– –
-50,543
Closed -$560K
GERN icon
1304
Geron
GERN
$1.01B
– –
-195,682
Closed -$311K
GGB icon
1305
Gerdau
GGB
$9.89B
– –
-10,611
Closed -$30.1K
GHC icon
1306
Graham Holdings Company
GHC
$5.06B
– –
-1,387
Closed -$1.33M
GNRC icon
1307
Generac Holdings
GNRC
$12.5B
– –
-11,229
Closed -$1.42M
GOOGL icon
1308
Alphabet (Google) Class A
GOOGL
$4.38T
– –
-152,604
Closed -$23.6M
GPRE icon
1309
Green Plains
GPRE
$1.06B
– –
-47,104
Closed -$228K
GPRO icon
1310
GoPro
GPRO
$126M
– –
-15,082
Closed -$10K
GRBK icon
1311
Green Brick Partners
GRBK
$3.07B
– –
-5,658
Closed -$330K
GRND icon
1312
Grindr
GRND
$3.05B
– –
-29,210
Closed -$523K
GSAT icon
1313
Globalstar
GSAT
$10.7B
– –
-37,579
Closed -$784K
GSHD icon
1314
Goosehead Insurance
GSHD
$2.37B
– –
-7,829
Closed -$924K
H icon
1315
Hyatt Hotels
H
$16.9B
– –
-2,718
Closed -$333K
HBI
1316
DELISTED
Hanesbrands
HBI
– –
-225,887
Closed -$1.3M
HD icon
1317
Home Depot
HD
$349B
– –
-1,683
Closed -$617K
HEES
1318
DELISTED
H&E Equipment Services
HEES
– –
-36,755
Closed -$3.48M
HLNE icon
1319
Hamilton Lane
HLNE
$5.43B
– –
-2,798
Closed -$416K
HLX icon
1320
Helix Energy Solutions
HLX
$1.45B
– –
-30,382
Closed -$252K
HNRG icon
1321
Hallador Energy
HNRG
$698M
– –
-25,370
Closed -$312K
HPE icon
1322
Hewlett Packard
HPE
$69.4B
– –
-14,504
Closed -$224K
HPP
1323
Hudson Pacific Properties
HPP
$729M
– –
-1,533
Closed -$31.7K
HR icon
1324
Healthcare Realty
HR
$6.92B
– –
-32,712
Closed -$553K
HROW icon
1325
Harrow
HROW
$1.49B
– –
-23,041
Closed -$613K
51 52
53
54 55

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Dark Forest Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.

Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.

  • Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
  • Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
  • Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
  • Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
  • Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
  • Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
  • Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.