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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
+6.88%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.66B
AUM Growth
+$149M
Cap. Flow
+$50.1M
Cap. Flow %
1.89%
Top 10 Hldgs %
6.39%
Holding
1,542
New
400
Increased
350
Reduced
355
Closed
431

Top Buys

Rank Stock Value
1
L icon
Loews
L
+$17.8M
2
INDA icon
iShares MSCI India ETF
INDA
+$17.3M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$16.4M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$16.2M
5
WMT icon
Walmart Inc
WMT
+$10M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$14.9M
2
NVDA icon
NVIDIA
NVDA
+$12.5M
3
BAC icon
Bank of America
BAC
+$12.5M
4
PANW icon
Palo Alto Networks
PANW
+$11.6M
5
AAPL icon
Apple
AAPL
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 18.09%
2 Industrials 14.85%
3 Technology 14.22%
4 Consumer Discretionary 11.61%
5 Healthcare 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LOW icon
151
Lowe's Companies
LOW
$122B
$4.59M 0.17%
18,265
+16,531
+953% +$4.06M
LHX icon
152
L3Harris
LHX
$53.9B
$4.59M 0.17%
+15,017
New +$4.1M
HEI.A icon
153
HEICO Corp Class A
HEI.A
$36.9B
$4.58M 0.17%
18,013
+7
+0% +$1.75K
AMPL icon
154
Amplitude
AMPL
$1.35B
$4.55M 0.17%
424,400
+132,660
+45% +$1.57M
JAMF
155
DELISTED
Jamf
JAMF
$4.55M 0.17%
+425,027
New +$3.85M
SNOW icon
156
Snowflake
SNOW
$110B
$4.55M 0.17%
20,155
+4,369
+28% +$938K
PCAR icon
157
PACCAR
PCAR
$69.5B
$4.54M 0.17%
+46,145
New +$4.55M
CRS icon
158
Carpenter Technology
CRS
$27.7B
$4.5M 0.17%
18,332
+16,332
+817% +$4.18M
KMI icon
159
Kinder Morgan
KMI
$69.7B
$4.5M 0.17%
+158,868
New +$4.35M
CWT icon
160
California Water Service
CWT
$3.06B
$4.5M 0.17%
97,996
+13,983
+17% +$644K
SFM icon
161
Sprouts Farmers Market
SFM
$8.13B
$4.47M 0.17%
41,115
+23,776
+137% +$3.46M
CME icon
162
CME Group
CME
$95B
$4.47M 0.17%
16,533
+10,826
+190% +$2.95M
POOL icon
163
Pool Corp
POOL
$7.31B
$4.46M 0.17%
+14,398
New +$4.51M
AMAT icon
164
Applied Materials
AMAT
$419B
$4.46M 0.17%
21,766
+9,167
+73% +$1.66M
MTG icon
165
MGIC Investment
MTG
$6.21B
$4.45M 0.17%
156,968
-62,764
-29% -$1.71M
WLK icon
166
Westlake Corp
WLK
$9.9B
$4.43M 0.17%
57,492
-34,999
-38% -$2.92M
SLGN icon
167
Silgan Holdings
SLGN
$4.39B
$4.42M 0.17%
102,773
+42,813
+71% +$2.07M
CNK icon
168
Cinemark Holdings
CNK
$4.4B
$4.41M 0.17%
157,449
+63,546
+68% +$1.76M
SO icon
169
Southern Company
SO
$107B
$4.4M 0.17%
+46,439
New +$4.34M
WSBC icon
170
WesBanco
WSBC
$4B
$4.4M 0.17%
137,761
+20,355
+17% +$649K
P
171
Everpure Inc
P
$29B
$4.37M 0.16%
52,132
+29,622
+132% +$1.97M
CWST icon
172
Casella Waste Systems
CWST
$5.75B
$4.35M 0.16%
45,887
+16,047
+54% +$1.62M
SLG icon
173
SL Green Realty
SLG
$3.86B
$4.32M 0.16%
72,242
+20,028
+38% +$1.19M
ESTC icon
174
Elastic
ESTC
$7.27B
$4.3M 0.16%
50,843
+2,013
+4% +$169K
WOR icon
175
Worthington Enterprises
WOR
$2.83B
$4.29M 0.16%
77,302
+35,858
+87% +$2.26M
5 6
7
8 9

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Dark Forest Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Dark Forest Capital Management held 1,542 positions worth $2.66B, up 6% from $2.51B the previous quarter. Its ten largest holdings account for 6.4% of the portfolio.

Dark Forest Capital Management's Q3 2025 filing shows 400 new, 350 increased, 355 reduced and 431 closed positions. Its largest new stake was iShares MSCI India ETF: 324,340 shares worth $16.9M. The largest sale was Cheniere Energy, an estimated $14.9M.

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

  • Dark Forest Capital Management's largest Q3 2025 buy was iShares MSCI India ETF: 324,340 shares worth $16.9M.
  • Dark Forest Capital Management added most to Loews in Q3 2025, an estimated $17.8M increase.
  • Dark Forest Capital Management's biggest Q3 2025 reduction was Cheniere Energy, cutting an estimated $14.9M.
  • Dark Forest Capital Management fully exited Bank of America in Q3 2025, selling an estimated $12.5M.
  • Dark Forest Capital Management's ten largest holdings make up 6.4% of its $2.66B portfolio in Q3 2025.
  • Dark Forest Capital Management opened 400 new positions and closed 431 in Q3 2025.
  • Dark Forest Capital Management's portfolio value rose 6% quarter-over-quarter to $2.66B.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.