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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
OGN icon
1376
Organon & Co
OGN
$3.57B
– –
-43,531
Closed -$649K
OHI icon
1377
Omega Healthcare
OHI
$14.7B
– –
-7,791
Closed -$295K
OPCH icon
1378
Option Care Health
OPCH
$3.56B
– –
-50,782
Closed -$1.18M
OVV icon
1379
Ovintiv
OVV
$16.4B
– –
-9,070
Closed -$367K
PAR icon
1380
PAR Technology
PAR
$735M
– –
-3,027
Closed -$220K
PAYX icon
1381
Paychex
PAYX
$42.7B
– –
-5,000
Closed -$701K
PCOR icon
1382
Procore
PCOR
$8.67B
– –
-3,096
Closed -$232K
PCRX icon
1383
Pacira BioSciences
PCRX
$997M
– –
-11,658
Closed -$220K
PDFS icon
1384
PDF Solutions
PDFS
$2.07B
– –
-11,314
Closed -$306K
PEGA icon
1385
Pegasystems
PEGA
$5.38B
– –
-4,848
Closed -$226K
PFF icon
1386
iShares Preferred and Income Securities ETF
PFF
$13.3B
– –
-7,533
Closed -$237K
PGR icon
1387
Progressive
PGR
$125B
– –
-4,164
Closed -$998K
PHAT icon
1388
Phathom Pharmaceuticals
PHAT
$692M
– –
-32,029
Closed -$260K
PHM icon
1389
Pultegroup
PHM
$25.3B
– –
-2,349
Closed -$256K
PLXS icon
1390
Plexus
PLXS
$7.23B
– –
-2,197
Closed -$344K
PPG icon
1391
PPG Industries
PPG
$26.6B
– –
-3,497
Closed -$418K
PPL
1392
PPL Corp
PPL
$26.7B
– –
-15,000
Closed -$487K
PR
1393
Permian Resources
PR
$16.9B
– –
-34,400
Closed -$495K
PRU icon
1394
Prudential Financial
PRU
$41.8B
– –
-3,625
Closed -$430K
PSN icon
1395
Parsons
PSN
$5.08B
– –
-4,081
Closed -$376K
PSX icon
1396
Phillips 66
PSX
$81.4B
– –
-2,217
Closed -$253K
PTC icon
1397
PTC
PTC
$16B
– –
-1,389
Closed -$255K
QS icon
1398
QuantumScape Corp
QS
$3.74B
– –
-14,259
Closed -$74K
RARE icon
1399
Ultragenyx Pharmaceutical
RARE
$2.55B
– –
-10,916
Closed -$459K
RC
1400
Ready Capital
RC
$308M
– –
-13,318
Closed -$90.8K
54 55
56
57 58

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OHIF
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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.