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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
-0.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$1.13B
AUM Growth
-$1.06B
Cap. Flow
-$1.04B
Cap. Flow %
-92.28%
Top 10 Hldgs %
8.34%
Holding
1,215
New
284
Increased
139
Reduced
338
Closed
449

Top Buys

Rank Stock Value
1
CDE icon
Coeur Mining
CDE
+$11.4M
2
TPG icon
TPG
TPG
+$9.58M
3
SOFI icon
SoFi Technologies
SOFI
+$7.05M
4
FWONK icon
Liberty Media Series C
FWONK
+$6.49M
5
Z icon
Zillow
Z
+$6.11M

Top Sells

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$30.9M
2
WMT icon
Walmart Inc
WMT
+$15.7M
3
CVX icon
Chevron
CVX
+$15M
4
SPG icon
Simon Property Group
SPG
+$12.5M
5
BROS icon
Dutch Bros
BROS
+$9.95M

Sector Composition

Rank Sector Weight
1 Financials 21.03%
2 Technology 15.44%
3 Industrials 15.31%
4 Consumer Discretionary 12.17%
5 Healthcare 9.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WSBC icon
126
WesBanco
WSBC
$3.9B
$2.3M 0.2%
66,799
-36,260
-35% -$1.27M
EWBC icon
127
East-West Bancorp
EWBC
$18.3B
$2.29M 0.2%
+21,467
New +$2.42M
KRMN
128
Karman Holdings
KRMN
$5.95B
$2.28M 0.2%
+28,468
New +$2.75M
HLF icon
129
Herbalife
HLF
$1.27B
$2.27M 0.2%
154,493
-84,425
-35% -$1.38M
RPM icon
130
RPM International
RPM
$13B
$2.26M 0.2%
22,728
-2,703
-11% -$292K
PCG icon
131
PG&E
PCG
$38.4B
$2.25M 0.2%
128,190
-474,855
-79% -$8.08M
VVX icon
132
V2X
VVX
$2.38B
$2.25M 0.2%
32,791
+24,584
+300% +$1.66M
BNL icon
133
Broadstone Net Lease
BNL
$4.36B
$2.22M 0.2%
121,299
-197,681
-62% -$3.72M
GM icon
134
General Motors
GM
$68.3B
$2.21M 0.2%
29,720
-15,624
-34% -$1.24M
CNXC icon
135
Concentrix
CNXC
$1.48B
$2.21M 0.2%
80,745
+53,128
+192% +$1.89M
PRMB
136
Primo Brands
PRMB
$8.82B
$2.21M 0.2%
117,149
+23,425
+25% +$453K
MLI icon
137
Mueller Industries
MLI
$13B
$2.2M 0.2%
+39,642
New +$2.38M
MET icon
138
MetLife
MET
$59.8B
$2.19M 0.19%
31,001
+23,777
+329% +$1.78M
ORI icon
139
Old Republic International
ORI
$10.3B
$2.19M 0.19%
54,798
+38,118
+229% +$1.57M
IDA icon
140
Idacorp
IDA
$8.15B
$2.18M 0.19%
15,241
-14,688
-49% -$2.01M
VST icon
141
Vistra
VST
$53.3B
$2.16M 0.19%
14,383
+875
+6% +$142K
BMY icon
142
Bristol-Myers Squibb
BMY
$123B
$2.16M 0.19%
35,601
-68,403
-66% -$3.99M
SPGI icon
143
S&P Global
SPGI
$133B
$2.13M 0.19%
+5,000
New +$2.32M
LVS icon
144
Las Vegas Sands
LVS
$30.4B
$2.11M 0.19%
39,232
+1,879
+5% +$107K
GT icon
145
Goodyear
GT
$2.08B
$2.11M 0.19%
+318,077
New +$2.68M
JBL icon
146
Jabil
JBL
$32.1B
$2.1M 0.19%
7,906
-1,747
-18% -$440K
NFG icon
147
National Fuel Gas
NFG
$7.71B
$2.1M 0.19%
22,335
-30,235
-58% -$2.64M
WMK icon
148
Weis Markets
WMK
$1.93B
$2.08M 0.18%
30,395
-9,536
-24% -$652K
JBLU icon
149
JetBlue
JBLU
$2.03B
$2.08M 0.18%
+469,622
New +$2.38M
BKH icon
150
Black Hills Corp
BKH
$5.67B
$2.07M 0.18%
29,798
+15,205
+104% +$1.09M
4 5
6
7 8

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Dark Forest Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Dark Forest Capital Management held 1,215 positions worth $1.13B, down 49% from $2.19B the previous quarter. Its ten largest holdings account for 8.3% of the portfolio.

Dark Forest Capital Management withdrew a net $1.04B in Q1 2026, closing 449 positions and reducing 338 holdings. Its most notable exit was Chevron, an estimated $15M position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 18% a quarter earlier, followed by Technology and Industrials.

Against the trend, Dark Forest Capital Management opened a new position in Liberty Media Series C worth $6.31M.

  • Dark Forest Capital Management's largest Q1 2026 buy was Liberty Media Series C: 74,238 shares worth $6.31M.
  • Dark Forest Capital Management added most to Coeur Mining in Q1 2026, an estimated $11.4M increase.
  • Dark Forest Capital Management's biggest Q1 2026 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $30.9M.
  • Dark Forest Capital Management fully exited Chevron in Q1 2026, selling an estimated $15M.
  • Dark Forest Capital Management's ten largest holdings make up 8.3% of its $1.13B portfolio in Q1 2026.
  • Dark Forest Capital Management opened 284 new positions and closed 449 in Q1 2026.
  • Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $1.13B.

Based on Dark Forest Capital Management's 13F filing for Q1 2026, filed 15 May 2026.