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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
RDUS
1401
DELISTED
Radius Recycling
RDUS
– –
-21,488
Closed -$327K
RES icon
1402
RPC Inc
RES
$1.3B
– –
-44,599
Closed -$265K
REVG
1403
DELISTED
REV Group
REVG
– –
-10,427
Closed -$332K
RMD icon
1404
ResMed
RMD
$30.7B
– –
-2,285
Closed -$523K
RNST icon
1405
Renasant Corp
RNST
$3.91B
– –
-6,185
Closed -$221K
ROP icon
1406
Roper Technologies
ROP
$39.8B
– –
-477
Closed -$248K
RPD icon
1407
Rapid7
RPD
$773M
– –
-15,151
Closed -$610K
RPRX icon
1408
Royalty Pharma
RPRX
$25.3B
– –
-134,116
Closed -$3.42M
RS icon
1409
Reliance Steel & Aluminium
RS
$21.6B
– –
-2,049
Closed -$552K
RSI icon
1410
Rush Street Interactive
RSI
$2.88B
– –
-17,367
Closed -$238K
RVLV icon
1411
Revolve Group
RVLV
$1.73B
– –
-12,141
Closed -$407K
RYN icon
1412
Rayonier
RYN
$6.55B
– –
-13,962
Closed -$347K
SCHW
1413
Charles Schwab
SCHW
$187B
– –
-6,442
Closed -$477K
SEAT icon
1414
Vivid Seats
SEAT
$85.4M
– –
-1,954
Closed -$181K
SHC icon
1415
Sotera Health
SHC
$5.38B
– –
-19,201
Closed -$263K
SITE icon
1416
SiteOne Landscape Supply
SITE
$4.53B
– –
-5,438
Closed -$717K
SJM icon
1417
J.M. Smucker
SJM
$12.8B
– –
-3,182
Closed -$350K
HTO
1418
H2O America
HTO
$2.62B
– –
-23,548
Closed -$1.16M
SKWD icon
1419
Skyward Specialty Insurance
SKWD
$2.58B
– –
-5,803
Closed -$293K
SKY icon
1420
Champion Homes
SKY
$5.14B
– –
-7,353
Closed -$648K
SLGN icon
1421
Silgan Holdings
SLGN
$4.41B
– –
-5,111
Closed -$266K
SNA icon
1422
Snap-on
SNA
$21.5B
– –
-721
Closed -$245K
SON icon
1423
Sonoco
SON
$5.74B
– –
-8,522
Closed -$416K
SPB icon
1424
Spectrum Brands
SPB
$2.07B
– –
-33,356
Closed -$2.82M
SRE icon
1425
Sempra
SRE
$54.8B
– –
-2,361
Closed -$207K
55 56
57
58 59

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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.