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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
PFGC icon
151
Performance Food Group
PFGC
$17.7B
$4.21M 0.17%
+48,083
New +$4M
NNN icon
152
NNN REIT
NNN
$8.97B
$4.19M 0.17%
97,058
+79,241
+445% +$3.29M
TPR icon
153
Tapestry
TPR
$31.5B
$4.17M 0.17%
+47,517
New +$3.6M
OLED icon
154
Universal Display
OLED
$3.96B
$4.16M 0.17%
26,913
-652
-2% -$91.3K
CR icon
155
Crane Co
CR
$13B
$4.14M 0.17%
21,806
+9,456
+77% +$1.57M
GTES icon
156
Gates Industrial Corporation Ltd.
GTES
$7.55B
$4.13M 0.16%
179,377
+97,911
+120% +$1.97M
FCX icon
157
Freeport-McMoran
FCX
$96.7B
$4.13M 0.16%
95,245
-18,280
-16% -$694K
ESTC icon
158
Elastic
ESTC
$7.39B
$4.12M 0.16%
+48,830
New +$4.13M
COLM icon
159
Columbia Sportswear
COLM
$2.95B
$4.11M 0.16%
67,323
+28,900
+75% +$1.86M
MTH icon
160
Meritage Homes
MTH
$4.86B
$4.08M 0.16%
60,950
+9,117
+18% +$604K
MDLZ icon
161
Mondelez International
MDLZ
$79.2B
$4.05M 0.16%
60,020
+9,483
+19% +$633K
ICE icon
162
Intercontinental Exchange
ICE
$83.8B
$4.05M 0.16%
22,055
+17,009
+337% +$2.92M
USB icon
163
US Bancorp
USB
$100B
$4.03M 0.16%
89,053
+68,681
+337% +$2.89M
MSA icon
164
Mine Safety
MSA
$7.45B
$4.01M 0.16%
+23,946
New +$3.75M
DXC icon
165
DXC Technology
DXC
$1.76B
$3.99M 0.16%
+261,089
New +$4.02M
PLD icon
166
Prologis
PLD
$130B
$3.97M 0.16%
37,792
+5,943
+19% +$623K
PNFP icon
167
Pinnacle Financial Partners Inc
PNFP
$16.5B
$3.97M 0.16%
35,917
-4,988
-12% -$515K
EWZ icon
168
iShares MSCI Brazil ETF
EWZ
$9.14B
$3.97M 0.16%
137,447
– –
JNJ icon
169
Johnson & Johnson
JNJ
$614B
$3.95M 0.16%
25,859
+22,665
+710% +$3.48M
HIW icon
170
Highwoods Properties
HIW
$3.64B
$3.88M 0.15%
+124,692
New +$3.67M
GH icon
171
Guardant Health
GH
$21.4B
$3.85M 0.15%
74,062
+47,758
+182% +$2.13M
OGE icon
172
OGE Energy
OGE
$9.79B
$3.84M 0.15%
86,465
-3,244
-4% -$144K
KEX icon
173
Kirby Corp
KEX
$7.08B
$3.83M 0.15%
33,814
+6,497
+24% +$682K
CWT icon
174
California Water Service
CWT
$3.11B
$3.82M 0.15%
+84,013
New +$4.02M
CVCO icon
175
Cavco Industries
CVCO
$4.36B
$3.82M 0.15%
8,785
+4,346
+98% +$2.04M
5 6
7
8 9

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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.