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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
LivaNova
LIVN
+$9.42M

Sector Composition

Rank Sector Weight
1 Financials 17.68%
2 Technology 15.03%
3 Industrials 14.39%
4 Consumer Discretionary 11.22%
5 Healthcare 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NHI icon
126
National Health Investors
NHI
$3.62B
$4.62M 0.18%
65,856
-35,049
-35% -$2.57M
ALSN icon
127
Allison Transmission
ALSN
$9.84B
$4.58M 0.18%
48,220
-42,152
-47% -$4.07M
ITGR icon
128
Integer Holdings
ITGR
$4.23B
$4.57M 0.18%
+37,176
New +$4.44M
NTST
129
NETSTREIT Corp
NTST
$2.04B
$4.57M 0.18%
269,887
+235,939
+695% +$3.78M
FISV
130
Fiserv Inc
FISV
$29.1B
$4.55M 0.18%
+26,385
New +$4.78M
MYRG icon
131
MYR Group
MYRG
$5.32B
$4.55M 0.18%
25,049
+891
+4% +$131K
COR icon
132
Cencora
COR
$62B
$4.5M 0.18%
14,994
-5,226
-26% -$1.51M
ELS icon
133
Equity Lifestyle Properties
ELS
$12.5B
$4.5M 0.18%
+72,901
New +$4.65M
CNXC icon
134
Concentrix
CNXC
$1.57B
$4.49M 0.18%
85,009
+79,546
+1,456% +$4.2M
SCI icon
135
Service Corp International
SCI
$11.6B
$4.44M 0.18%
+54,493
New +$4.25M
AVGO icon
136
Broadcom
AVGO
$2T
$4.41M 0.18%
16,014
-17,831
-53% -$3.87M
TMUS icon
137
T-Mobile US
TMUS
$185B
$4.41M 0.18%
+18,508
New +$4.52M
WD icon
138
Walker & Dunlop
WD
$1.78B
$4.4M 0.18%
62,388
+14,470
+30% +$1.05M
LRN icon
139
Stride
LRN
$3.51B
$4.4M 0.18%
30,282
+21,139
+231% +$3.06M
WRB icon
140
W.R. Berkley
WRB
$26.6B
$4.38M 0.17%
+59,635
New +$4.27M
AXS icon
141
AXIS Capital
AXS
$7.57B
$4.36M 0.17%
42,032
-74,207
-64% -$7.39M
FDX icon
142
FedEx
FDX
$73.7B
$4.35M 0.17%
+19,122
New +$4.19M
DAR icon
143
Darling Ingredients
DAR
$9.38B
$4.34M 0.17%
114,344
+71,227
+165% +$2.34M
FRME icon
144
First Merchants
FRME
$2.73B
$4.33M 0.17%
113,040
-27,398
-20% -$1.01M
HLI icon
145
Houlihan Lokey
HLI
$8.98B
$4.33M 0.17%
24,045
+7,659
+47% +$1.29M
IWM icon
146
PUT
iShares Russell 2000 ETF
IWM
$82.8B
$4.32M 0.17%
20,000
-20,000
-50% -$4.02M
NFG icon
147
National Fuel Gas
NFG
$7.57B
$4.29M 0.17%
50,667
-15,068
-23% -$1.22M
SKX
148
DELISTED
Skechers
SKX
$4.27M 0.17%
67,728
+47,381
+233% +$2.72M
URBN icon
149
Urban Outfitters
URBN
$6.67B
$4.25M 0.17%
58,576
+16,633
+40% +$999K
HON icon
150
Honeywell
HON
$78.8B
$4.23M 0.17%
+19,264
New +$3.9M
4 5
6
7 8

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Dark Forest Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.

Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.

  • Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
  • Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
  • Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
  • Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
  • Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
  • Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
  • Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.