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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
Cap. Flow
-$687M
Cap. Flow %
-103.08%
Top 10 Hldgs %
40.61%
Holding
1,194
New
130
Increased
97
Reduced
186
Closed
768

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$93.3M
2
P
Everpure Inc
P
+$18.1M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$15.9M
4
WDAY icon
Workday
WDAY
+$15.8M
5
APP icon
Applovin
APP
+$15.5M

Top Sells

Rank Stock Value
1
LULU icon
lululemon athletica
LULU
+$17.1M
2
KSS icon
Kohl's
KSS
+$11.8M
3
VMBS icon
Vanguard Mortgage-Backed Securities ETF
VMBS
+$11.6M
4
VCSH icon
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
BVH
151
DELISTED
Bluegreen Vacations Holding Corporation
BVH
$789K 0.12%
+10,506
New +$612K
TTC icon
152
Toro Company
TTC
$9.35B
$783K 0.12%
8,157
-8,064
-50% -$691K
MRC
153
DELISTED
MRC Global
MRC
$779K 0.12%
+70,744
New +$741K
UPWK icon
154
Upwork
UPWK
$1.16B
$779K 0.12%
+52,366
New +$675K
ALTR
155
DELISTED
Altair Engineering Inc
ALTR
$770K 0.12%
+9,155
New +$637K
FLS icon
156
Flowserve
FLS
$10B
$762K 0.11%
18,489
-47,578
-72% -$1.83M
ERII icon
157
Energy Recovery
ERII
$450M
$757K 0.11%
+40,206
New +$747K
NMRK icon
158
Newmark Group
NMRK
$2.66B
$756K 0.11%
68,950
-123,213
-64% -$931K
KFRC icon
159
Kforce
KFRC
$1.05B
$753K 0.11%
+11,148
New +$711K
FTAI icon
160
FTAI Aviation
FTAI
$22.7B
$732K 0.11%
15,783
-21,701
-58% -$866K
SSNC icon
161
SS&C Technologies
SSNC
$18.7B
$730K 0.11%
11,953
-32,142
-73% -$1.76M
RRX icon
162
Regal Rexnord
RRX
$11.9B
$728K 0.11%
4,917
+2,754
+127% +$347K
NWLI
163
DELISTED
National Western Life Group, Inc. Class A
NWLI
$725K 0.11%
1,500
+116
+8% +$55.2K
ENS icon
164
EnerSys
ENS
$6.83B
$723K 0.11%
+7,165
New +$659K
ECVT icon
165
Ecovyst
ECVT
$1.2B
$722K 0.11%
73,871
+40,113
+119% +$382K
HURN icon
166
Huron Consulting
HURN
$2.39B
$713K 0.11%
6,931
-16
-0.2% -$1.64K
DBX icon
167
Dropbox
DBX
$8.06B
$710K 0.11%
24,071
-31,705
-57% -$880K
LILAK icon
168
Liberty Latin America Class C
LILAK
$1.72B
$707K 0.11%
105,903
-193,409
-65% -$1.25M
PTLO icon
169
Portillo's
PTLO
$317M
$705K 0.11%
44,251
-22,798
-34% -$352K
STR
170
DELISTED
Sitio Royalties
STR
$705K 0.11%
+29,976
New +$696K
EVRI
171
DELISTED
Everi Holdings
EVRI
$704K 0.11%
62,430
-73,167
-54% -$825K
TTWO icon
172
Take-Two Interactive
TTWO
$43.5B
$685K 0.1%
+4,258
New +$635K
FA icon
173
First Advantage
FA
$4.14B
$684K 0.1%
41,283
+23,940
+138% +$350K
TYL icon
174
Tyler Technologies
TYL
$12.5B
$684K 0.1%
1,635
+959
+142% +$383K
BL icon
175
BlackLine
BL
$1.76B
$679K 0.1%
10,878
-34,246
-76% -$1.94M
5 6
7
8 9

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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.