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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
VMI icon
151
Valmont Industries
VMI
$10.2B
$2.06M 0.18%
5,160
+3,352
+185% +$1.46M
ZION icon
152
Zions Bancorporation
ZION
$10.6B
$2.05M 0.18%
35,658
-15,216
-30% -$897K
HSY icon
153
Hershey
HSY
$34.8B
$2.01M 0.18%
9,660
-16,260
-63% -$3.43M
WRB icon
154
W.R. Berkley
WRB
$27.1B
$2M 0.18%
30,250
+12,542
+71% +$864K
DD icon
155
DuPont de Nemours
DD
$18.3B
$2M 0.18%
+14,568
New +$2.01M
HQY icon
156
HealthEquity
HQY
$8.27B
$2M 0.18%
+23,896
New +$1.96M
CTAS icon
157
Cintas
CTAS
$80.7B
$1.99M 0.18%
11,788
+4,389
+59% +$841K
IESC icon
158
IES Holdings
IESC
$12.4B
$1.97M 0.18%
4,144
-1,124
-21% -$515K
CTSH icon
159
Cognizant
CTSH
$21.1B
$1.97M 0.17%
32,096
-6,949
-18% -$497K
PWR icon
160
Quanta Services
PWR
$94.9B
$1.96M 0.17%
3,578
+1,862
+109% +$959K
CNC icon
161
Centene
CNC
$32.5B
$1.95M 0.17%
+59,633
New +$2.45M
ALLE icon
162
Allegion
ALLE
$11.9B
$1.95M 0.17%
13,431
-14,686
-52% -$2.34M
EPAM icon
163
EPAM Systems
EPAM
$4.67B
$1.95M 0.17%
+14,380
New +$2.46M
ATRO icon
164
Astronics
ATRO
$3.32B
$1.91M 0.17%
34,366
+4,917
+17% +$297K
CAKE icon
165
Cheesecake Factory
CAKE
$4.28B
$1.91M 0.17%
34,864
-3,469
-9% -$207K
CDNS icon
166
Cadence Design Systems
CDNS
$91B
$1.9M 0.17%
6,841
+6,011
+724% +$1.79M
IMKTA icon
167
Ingles Markets
IMKTA
$1.72B
$1.89M 0.17%
+21,018
New +$1.7M
LMAT icon
168
LeMaitre Vascular
LMAT
$2.32B
$1.89M 0.17%
17,269
+6,090
+54% +$580K
GAP
169
The Gap Inc
GAP
$7.16B
$1.88M 0.17%
77,543
+35,021
+82% +$926K
IOSP icon
170
Innospec
IOSP
$2.07B
$1.87M 0.17%
25,643
-18,881
-42% -$1.47M
SITE icon
171
SiteOne Landscape Supply
SITE
$4.55B
$1.87M 0.17%
14,022
-44,411
-76% -$6.28M
APA icon
172
APA Corp
APA
$12.3B
$1.84M 0.16%
+43,360
New +$1.31M
NNI icon
173
Nelnet
NNI
$4.82B
$1.83M 0.16%
14,203
+11,660
+459% +$1.53M
URBN icon
174
Urban Outfitters
URBN
$6.41B
$1.82M 0.16%
28,714
+17,254
+151% +$1.18M
CPRT icon
175
Copart
CPRT
$25.5B
$1.82M 0.16%
54,750
+35,785
+189% +$1.34M
5 6
7
8 9

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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.