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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
BCPC
176
Balchem Corp
BCPC
$5.57B
$3.82M 0.15%
23,971
+9,362
+64% +$1.52M
AZO icon
177
AutoZone
AZO
$49.4B
$3.81M 0.15%
1,026
+39
+4% +$144K
DIOD icon
178
Diodes
DIOD
$4.06B
$3.81M 0.15%
71,954
-48,816
-40% -$2.15M
ED icon
179
Consolidated Edison
ED
$40B
$3.79M 0.15%
37,718
+16,220
+75% +$1.72M
DOX icon
180
Amdocs
DOX
$6.02B
$3.73M 0.15%
40,864
+22,415
+121% +$2M
WSBC icon
181
WesBanco
WSBC
$4.06B
$3.71M 0.15%
117,406
+14,540
+14% +$440K
MRK icon
182
Merck
MRK
$316B
$3.67M 0.15%
46,347
+34,528
+292% +$2.74M
CALX icon
183
Calix
CALX
$2.49B
$3.66M 0.15%
68,843
+49,784
+261% +$2.13M
AJG icon
184
Arthur J. Gallagher & Co
AJG
$63.6B
$3.66M 0.15%
11,432
+2,116
+23% +$698K
PCG icon
185
PG&E
PCG
$38.4B
$3.65M 0.15%
261,563
+153,687
+142% +$2.5M
MEDP icon
186
Medpace
MEDP
$16.1B
$3.65M 0.15%
11,617
+1,789
+18% +$537K
JNPR
187
DELISTED
Juniper Networks
JNPR
$3.64M 0.15%
91,202
+66,935
+276% +$2.4M
HLIO icon
188
Helios Technologies
HLIO
$2.69B
$3.64M 0.14%
108,971
+85,567
+366% +$2.58M
UPS icon
189
United Parcel Service
UPS
$92.7B
$3.63M 0.14%
35,917
+28,728
+400% +$2.83M
CVNA icon
190
Carvana
CVNA
$74.8B
$3.62M 0.14%
53,705
+32,415
+152% +$1.78M
CPK icon
191
Chesapeake Utilities
CPK
$3.19B
$3.62M 0.14%
30,103
+7,272
+32% +$915K
AMPL icon
192
Amplitude
AMPL
$1.31B
$3.62M 0.14%
291,740
+25,178
+9% +$272K
NWN icon
193
Northwest Natural Holdings
NWN
$2.05B
$3.62M 0.14%
91,072
+80,180
+736% +$3.32M
LBRT icon
194
Liberty Energy
LBRT
$3.23B
$3.61M 0.14%
+314,262
New +$3.81M
ACVA icon
195
ACV Auctions
ACVA
$1.4B
$3.57M 0.14%
219,923
+88,900
+68% +$1.38M
MDB icon
196
MongoDB
MDB
$30.6B
$3.55M 0.14%
16,920
+12,101
+251% +$2.24M
MOD icon
197
Modine Manufacturing
MOD
$10.7B
$3.55M 0.14%
36,071
+432
+1% +$38.6K
OGS icon
198
ONE Gas
OGS
$4.85B
$3.55M 0.14%
+49,431
New +$3.71M
ALK icon
199
Alaska Air
ALK
$5.86B
$3.55M 0.14%
+71,674
New +$3.48M
FITB
200
Fifth Third Bancorp
FITB
$52.4B
$3.54M 0.14%
+85,989
New +$3.23M
6 7
8
9 10

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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.