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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
OEC icon
201
Orion
OEC
$430M
$610K 0.09%
22,000
+12,492
+131% +$287K
NATL icon
202
NCR Atleos
NATL
$3.44B
$610K 0.09%
+25,114
New +$575K
LOB icon
203
Live Oak Bancshares
LOB
$1.97B
$609K 0.09%
13,389
-46,888
-78% -$1.57M
PFF icon
204
iShares Preferred and Income Securities ETF
PFF
$13.2B
$603K 0.09%
+19,329
New +$577K
VZIO
205
DELISTED
VIZIO Holding Corp.
VZIO
$599K 0.09%
77,852
+51,838
+199% +$325K
PRIM icon
206
Primoris Services
PRIM
$4.32B
$596K 0.09%
17,953
+3,320
+23% +$104K
VGSH icon
207
Vanguard Short-Term Treasury ETF
VGSH
$29.2B
$594K 0.09%
10,192
– –
BDC icon
208
Belden
BDC
$5.05B
$590K 0.09%
7,637
+4,536
+146% +$337K
AME icon
209
Ametek
AME
$57.6B
$590K 0.09%
3,576
-9,690
-73% -$1.48M
WINA icon
210
Winmark
WINA
$1.27B
$580K 0.09%
1,388
-38
-3% -$16K
SEB icon
211
Seaboard Corp
SEB
$4.1B
$578K 0.09%
162
+100
+161% +$356K
VSEC icon
212
VSE Corp
VSEC
$6.33B
$572K 0.09%
8,858
+3,191
+56% +$187K
RBC icon
213
RBC Bearings
RBC
$17.9B
$568K 0.09%
1,993
-192
-9% -$47.1K
AGM icon
214
Federal Agricultural Mortgage
AGM
$2.57B
$555K 0.08%
2,904
+1,471
+103% +$239K
THR
215
DELISTED
Thermon Group Holdings
THR
$548K 0.08%
16,834
+3,549
+27% +$106K
FANG icon
216
Diamondback Energy
FANG
$53.1B
$547K 0.08%
+3,529
New +$553K
SHC icon
217
Sotera Health
SHC
$5.39B
$540K 0.08%
+32,026
New +$453K
XLK icon
218
State Street Technology Select Sector SPDR ETF
XLK
$122B
$532K 0.08%
+5,532
New +$492K
HE icon
219
Hawaiian Electric Industries
HE
$2.16B
$532K 0.08%
37,502
+11,104
+42% +$144K
CABO icon
220
Cable One
CABO
$252M
$528K 0.08%
949
+479
+102% +$273K
ICFI icon
221
ICF International
ICFI
$1.54B
$526K 0.08%
3,925
+164
+4% +$21.5K
CBZ icon
222
CBIZ
CBZ
$2.96B
$524K 0.08%
8,377
-1,942
-19% -$110K
FERG icon
223
Ferguson
FERG
$49.1B
$523K 0.08%
2,711
-3,957
-59% -$667K
VYX icon
224
NCR Voyix
VYX
$1.16B
$523K 0.08%
30,912
-92,828
-75% -$1.48M
MGRC icon
225
McGrath RentCorp
MGRC
$2.97B
$522K 0.08%
4,365
-3,992
-48% -$415K
7 8
9
10 11

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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.