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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JBGS
126
JBG SMITH
JBGS
$707M
$1.18M 0.17%
+77,000
New +$1.29M
COP icon
127
ConocoPhillips
COP
$140B
$1.18M 0.17%
11,916
+7,808
+190% +$829K
OPCH icon
128
Option Care Health
OPCH
$3.54B
$1.18M 0.17%
+50,782
New +$1.28M
DLR icon
129
Digital Realty Trust
DLR
$71.3B
$1.18M 0.17%
6,628
+3,106
+88% +$551K
RHP icon
130
Ryman Hospitality Properties
RHP
$7.84B
$1.17M 0.17%
11,237
-13,824
-55% -$1.54M
DCI icon
131
Donaldson
DCI
$11.4B
$1.17M 0.17%
17,373
+8,397
+94% +$619K
DEI icon
132
Douglas Emmett
DEI
$1.93B
$1.17M 0.17%
62,917
+49,076
+355% +$915K
STRL icon
133
Sterling Infrastructure
STRL
$16.4B
$1.17M 0.17%
6,930
-12,379
-64% -$2.14M
ZG icon
134
Zillow
ZG
$7.59B
$1.16M 0.17%
16,382
-140
-0.8% -$9.65K
HTO
135
H2O America
HTO
$2.59B
$1.16M 0.17%
+23,548
New +$1.3M
DTE icon
136
DTE Energy
DTE
$29.1B
$1.16M 0.17%
9,567
+6,878
+256% +$848K
WABC icon
137
Westamerica Bancorp
WABC
$1.38B
$1.15M 0.17%
+21,971
New +$1.18M
PRKS icon
138
United Parks & Resorts
PRKS
$2.09B
$1.15M 0.17%
+20,405
New +$1.12M
CMBS icon
139
iShares CMBS ETF
CMBS
$474M
$1.14M 0.17%
24,188
-4,862
-17% -$232K
CWB icon
140
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.64B
$1.14M 0.17%
14,606
-406
-3% -$32K
MPT
141
Medical Properties Trust
MPT
$2.75B
$1.13M 0.17%
+286,082
New +$1.28M
EG icon
142
Everest Group
EG
$14.2B
$1.11M 0.16%
3,071
-99
-3% -$37.1K
ABCB icon
143
Ameris Bancorp
ABCB
$5.92B
$1.11M 0.16%
+17,687
New +$1.16M
VLO icon
144
Valero Energy
VLO
$87.2B
$1.1M 0.16%
9,010
+7,017
+352% +$939K
ARE icon
145
Alexandria Real Estate Equities
ARE
$8.34B
$1.1M 0.16%
+11,262
New +$1.23M
UTI icon
146
Universal Technical Institute
UTI
$1.53B
$1.09M 0.16%
+42,586
New +$886K
LEN.B icon
147
Lennar Class B
LEN.B
$20.1B
$1.09M 0.16%
8,661
+245
+3% +$36.9K
RITM icon
148
Rithm Capital
RITM
$5.55B
$1.08M 0.16%
99,982
-138,176
-58% -$1.5M
KEX icon
149
Kirby Corp
KEX
$7.02B
$1.07M 0.16%
+10,157
New +$1.22M
FELE icon
150
Franklin Electric
FELE
$4.83B
$1.07M 0.16%
11,022
+6,701
+155% +$698K
4 5
6
7 8

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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.