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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
AAMI
201
Acadian Asset Management
AAMI
$2.99B
$1.68M 0.15%
30,948
-6,844
-18% -$360K
LOB icon
202
Live Oak Bancshares
LOB
$1.93B
$1.67M 0.15%
50,639
-13,935
-22% -$513K
DBD icon
203
Diebold Nixdorf
DBD
$3.05B
$1.67M 0.15%
+22,124
New +$1.63M
UHS icon
204
Universal Health Services
UHS
$9.08B
$1.66M 0.15%
9,266
+2,216
+31% +$455K
XPRO icon
205
Expro Ltd
XPRO
$1.83B
$1.66M 0.15%
95,077
+75,964
+397% +$1.25M
TEL icon
206
TE Connectivity
TEL
$61B
$1.66M 0.15%
7,918
-4,869
-38% -$1.07M
WEC icon
207
WEC Energy
WEC
$36.4B
$1.65M 0.15%
14,274
-28,774
-67% -$3.23M
VLO icon
208
Valero Energy
VLO
$93.5B
$1.64M 0.15%
6,643
-3,282
-33% -$677K
BFC icon
209
Bank First Corp
BFC
$1.63B
$1.64M 0.15%
+12,137
New +$1.65M
TWLO icon
210
Twilio
TWLO
$29.8B
$1.63M 0.15%
+12,981
New +$1.6M
FFIN icon
211
First Financial Bankshares
FFIN
$4.98B
$1.63M 0.14%
55,303
+31,874
+136% +$1M
SLGN icon
212
Silgan Holdings
SLGN
$4.82B
$1.63M 0.14%
41,962
-23,374
-36% -$1.03M
LSTR icon
213
Landstar System
LSTR
$7.27B
$1.62M 0.14%
10,128
+6,250
+161% +$959K
HG icon
214
Hamilton Insurance Group
HG
$3.45B
$1.62M 0.14%
+54,209
New +$1.56M
RDDT icon
215
Reddit
RDDT
$35.8B
$1.62M 0.14%
+12,008
New +$2.04M
ABT icon
216
Abbott
ABT
$174B
$1.62M 0.14%
15,733
-12,578
-44% -$1.42M
SEE
217
DELISTED
Sealed Air
SEE
$1.61M 0.14%
38,383
+23,568
+159% +$986K
AWR icon
218
American States Water
AWR
$3.39B
$1.59M 0.14%
21,053
-5,031
-19% -$371K
GGG icon
219
Graco
GGG
$12.1B
$1.58M 0.14%
18,652
-3,968
-18% -$351K
WABC icon
220
Westamerica Bancorp
WABC
$1.39B
$1.58M 0.14%
30,274
-33,613
-53% -$1.7M
PLXS icon
221
Plexus
PLXS
$6.97B
$1.58M 0.14%
7,794
-39,474
-84% -$7.5M
FSLY icon
222
Fastly Inc
FSLY
$3.24B
$1.58M 0.14%
54,304
-17,228
-24% -$283K
ETR icon
223
Entergy
ETR
$52.4B
$1.58M 0.14%
+14,023
New +$1.41M
UNM icon
224
Unum
UNM
$14.1B
$1.57M 0.14%
21,519
-35,392
-62% -$2.64M
AFG icon
225
American Financial Group
AFG
$11.8B
$1.57M 0.14%
+12,283
New +$1.6M
7 8
9
10 11

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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.