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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
+10.07%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$666M
AUM Growth
-$632M
(-49%)
Cap. Flow
-$687M
Cap. Flow
% of AUM
-103.08%
Top 10 Holdings %
Top 10 Hldgs %
40.61%
Holding
1,194
New
130
Increased
97
Reduced
186
Closed
768
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$93.3M |
| 2 |
P
Everpure Inc
P
|
+$18.1M |
| 3 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$15.9M |
| 4 |
Workday
WDAY
|
+$15.8M |
| 5 |
Applovin
APP
|
+$15.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
lululemon athletica
LULU
|
+$17.1M |
| 2 |
Kohl's
KSS
|
+$11.8M |
| 3 |
Vanguard Mortgage-Backed Securities ETF
VMBS
|
+$11.6M |
| 4 |
Vanguard Short-Term Corporate Bond ETF
VCSH
|
+$8.19M |
| 5 |
CNGL
Canna-Global Acquisition Corp. Class A Common Stock
CNGL
|
+$5.88M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 26.63% |
| 2 | Technology | 15.32% |
| 3 | Financials | 8.5% |
| 4 | Industrials | 8.5% |
| 5 | Consumer Discretionary | 7.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Herc Holdings
HRI
$5.67B
| $903K | 0.14% |
+6,068
| New | +$743K |
|
|
HAPN
127
Happen Inc
HAPN
$2.27B
| $902K | 0.14% |
103,256
-24,304
| -19% | -$153K |
|
128
Uranium Energy
UEC
$5.63B
| $899K | 0.14% |
+140,516
| New | +$837K |
|
129
Dream Finders Homes
DFH
$1.31B
| $882K | 0.13% |
24,829
-12,764
| -34% | -$318K |
|
130
Empire State Realty Trust
ESRT
$845M
| $876K | 0.13% |
+90,374
| New | +$783K |
|
131
TripAdvisor
TRIP
$1.25B
| $875K | 0.13% |
+40,636
| New | +$712K |
|
132
Liberty Media Series A
FWONA
$22.8B
| $870K | 0.13% |
15,000
| – | – |
|
133
State Street Real Estate Select Sector SPDR ETF
XLRE
$8.57B
| $867K | 0.13% |
21,636
-79,415
| -79% | -$2.85M |
|
134
Hovnanian Enterprises
HOV
$805M
| $864K | 0.13% |
+5,550
| New | +$558K |
|
135
PubMatic
PUBM
$812M
| $863K | 0.13% |
+52,923
| New | +$768K |
|
136
Cactus
WHD
$5.43B
| $863K | 0.13% |
+19,006
| New | +$865K |
|
137
Forestar Group
FOR
$1.5B
| $862K | 0.13% |
26,059
+131
| +0.5% | +$3.8K |
|
138
Revolve Group
RVLV
$1.78B
| $849K | 0.13% |
51,182
-39,914
| -44% | -$589K |
|
139
Cadence Design Systems
CDNS
$95.6B
| $848K | 0.13% |
3,114
-1,139
| -27% | -$293K |
|
140
Utz Brands
UTZ
$1.25B
| $838K | 0.13% |
51,631
+21,555
| +72% | +$284K |
|
141
Beazer Homes USA
BZH
$904M
| $835K | 0.13% |
24,722
+15,993
| +183% | +$437K |
|
|
ATSG
142
DELISTED
Air Transport Services Group
ATSG
| $833K | 0.13% |
47,299
-24,933
| -35% | -$443K |
|
|
SP
143
DELISTED
SP Plus Corporation
SP
| $829K | 0.12% |
+16,177
| New | +$811K |
|
144
Ramaco Resources Class A
METC
$652M
| $828K | 0.12% |
+49,792
| New | +$691K |
|
|
ROVR
145
DELISTED
Rover Group, Inc. Class A Common Stock
ROVR
| $817K | 0.12% |
+75,114
| New | +$635K |
|
146
Virtu Financial
VIRT
$4.93B
| $807K | 0.12% |
39,818
-123,993
| -76% | -$2.29M |
|
147
Victory Capital Holdings
VCTR
$6.66B
| $799K | 0.12% |
23,195
-23,567
| -50% | -$754K |
|
148
First Watch Restaurant Group
FWRG
$758M
| $797K | 0.12% |
39,668
-14,686
| -27% | -$265K |
|
149
Vanguard Morningstar Growth ETF
VUG
$231B
| $792K | 0.12% |
+15,288
| New | +$738K |
|
150
Oracle
ORCL
$419B
| $790K | 0.12% |
+7,491
| New | +$818K |
|
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Dark Forest Capital Management's Q4 2023 Portfolio in Review
As of Q4 2023, Dark Forest Capital Management held 1,194 positions worth $666M, down 49% from $1.3B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Dark Forest Capital Management withdrew a net $687M in Q4 2023, closing 768 positions and reducing 186 holdings. Its most notable exit was lululemon athletica, an estimated $17.1M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 27% of assets, up from 6.2% a quarter earlier, followed by Technology and Financials.
Against the trend, Dark Forest Capital Management opened a new position in Everpure Inc worth $18.4M.
- Dark Forest Capital Management's largest Q4 2023 buy was Everpure Inc: 514,899 shares worth $18.4M.
- Dark Forest Capital Management added most to Alphabet (Google) Class A in Q4 2023, an estimated $93.3M increase.
- Dark Forest Capital Management's biggest Q4 2023 reduction was Kohl's, cutting an estimated $11.8M.
- Dark Forest Capital Management fully exited lululemon athletica in Q4 2023, selling an estimated $17.1M.
- Dark Forest Capital Management's ten largest holdings make up 41% of its $666M portfolio in Q4 2023.
- Dark Forest Capital Management opened 130 new positions and closed 768 in Q4 2023.
- Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $666M.
Based on Dark Forest Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.