We are live on ! Find out more
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
+6.88%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.66B
AUM Growth
+$149M
Cap. Flow
+$50.1M
Cap. Flow %
1.89%
Top 10 Hldgs %
6.39%
Holding
1,542
New
400
Increased
350
Reduced
355
Closed
431

Top Buys

Rank Stock Value
1
L icon
Loews
L
+$17.8M
2
INDA icon
iShares MSCI India ETF
INDA
+$17.3M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$16.4M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$16.2M
5
WMT icon
Walmart Inc
WMT
+$10M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$14.9M
2
NVDA icon
NVIDIA
NVDA
+$12.5M
3
BAC icon
Bank of America
BAC
+$12.5M
4
PANW icon
Palo Alto Networks
PANW
+$11.6M
5
AAPL icon
Apple
AAPL
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 18.09%
2 Industrials 14.85%
3 Technology 14.22%
4 Consumer Discretionary 11.61%
5 Healthcare 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OXM icon
1401
Oxford Industries
OXM
$552M
– –
-64,926
Closed -$2.61M
PAGS icon
1402
PagSeguro Digital
PAGS
$2.55B
– –
-161,351
Closed -$1.56M
PAYO icon
1403
Payoneer
PAYO
$2.41B
– –
-11,173
Closed -$76.5K
PBR icon
1404
Petrobras
PBR
$116B
– –
-49,950
Closed -$625K
PCH
1405
DELISTED
PotlatchDeltic
PCH
– –
-25,665
Closed -$985K
PDD icon
1406
Pinduoduo
PDD
$131B
– –
-8,305
Closed -$869K
PEGA icon
1407
Pegasystems
PEGA
$5.38B
– –
-47,219
Closed -$2.56M
PEP icon
1408
PepsiCo
PEP
$190B
– –
-44,161
Closed -$5.83M
PFS icon
1409
Provident Financial Services
PFS
$3.19B
– –
-68,305
Closed -$1.2M
PII icon
1410
Polaris
PII
$4.07B
– –
-26,955
Closed -$1.1M
PK icon
1411
Park Hotels & Resorts
PK
$2.97B
– –
-217,658
Closed -$2.23M
PKG icon
1412
Packaging Corp of America
PKG
$22.8B
– –
-9,584
Closed -$1.81M
PNC icon
1413
PNC Financial Services
PNC
$101B
– –
-26,229
Closed -$4.89M
PPL
1414
PPL Corp
PPL
$26.7B
– –
-49,948
Closed -$1.69M
PRDO icon
1415
Perdoceo Education
PRDO
$2.12B
– –
-38,952
Closed -$1.27M
PRG icon
1416
PROG Holdings
PRG
$1.71B
– –
-8,616
Closed -$253K
PRI icon
1417
Primerica
PRI
$9.89B
– –
-1,475
Closed -$404K
PRTA icon
1418
Prothena Corp
PRTA
$450M
– –
-32,866
Closed -$199K
PRVA icon
1419
Privia Health
PRVA
$2.87B
– –
-54,704
Closed -$1.26M
PSFE icon
1420
Paysafe
PSFE
$375M
– –
-17,316
Closed -$219K
PTCT icon
1421
PTC Therapeutics
PTCT
$6.12B
– –
-63,069
Closed -$3.08M
PTLO icon
1422
Portillo's
PTLO
$321M
– –
-13,296
Closed -$155K
PZZA icon
1423
Papa John's
PZZA
$806M
– –
-19,272
Closed -$943K
QFIN icon
1424
Qfin Holdings
QFIN
$1.61B
– –
-5,328
Closed -$231K
QRVO icon
1425
Qorvo
QRVO
$8.74B
– –
-7,953
Closed -$675K
55 56
57
58 59

Similar funds

PL
Parkwood LLC Cleveland, Ohio $1.13B AUM 32.89% 1-Year Est. Return
AT
American Trust Lexington, Kentucky $1.13B AUM 17.56% 1-Year Est. Return
WM
WS Management Jacksonville, Florida $1.13B AUM 53.44% 1-Year Est. Return
OHIF
Oriental Harbor Investment Fund Hong Kong $1.13B AUM 70.63% 1-Year Est. Return
HMCP
Hook Mill Capital Partners New York $1.13B AUM 31.32% 1-Year Est. Return
C
Chescapmanager Baltimore, Maryland $1.12B AUM 67.49% 1-Year Est. Return
ACM
Alua Capital Management New York $1.13B AUM 8.41% 1-Year Est. Return
CNC
Canandaigua National Corp Canandaigua, New York $1.12B AUM

Dark Forest Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Dark Forest Capital Management held 1,542 positions worth $2.66B, up 6% from $2.51B the previous quarter. Its ten largest holdings account for 6.4% of the portfolio.

Dark Forest Capital Management's Q3 2025 filing shows 400 new, 350 increased, 355 reduced and 431 closed positions. Its largest new stake was iShares MSCI India ETF: 324,340 shares worth $16.9M. The largest sale was Cheniere Energy, an estimated $14.9M.

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

  • Dark Forest Capital Management's largest Q3 2025 buy was iShares MSCI India ETF: 324,340 shares worth $16.9M.
  • Dark Forest Capital Management added most to Loews in Q3 2025, an estimated $17.8M increase.
  • Dark Forest Capital Management's biggest Q3 2025 reduction was Cheniere Energy, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Bank of America in Q3 2025, selling an estimated $12.5M.
  • Dark Forest Capital Management's ten largest holdings make up 6.4% of its $2.66B portfolio in Q3 2025.
  • Dark Forest Capital Management opened 400 new positions and closed 431 in Q3 2025.
  • Dark Forest Capital Management's portfolio value rose 6% quarter-over-quarter to $2.66B.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.