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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BANF icon
201
BancFirst
BANF
$3.81B
$889K 0.13%
+7,584
New +$889K
SSD icon
202
Simpson Manufacturing
SSD
$7.96B
$885K 0.13%
+5,337
New +$977K
KMT icon
203
Kennametal
KMT
$2.58B
$881K 0.13%
+36,658
New +$976K
ENOV icon
204
Enovis
ENOV
$1.51B
$877K 0.13%
19,997
-14,554
-42% -$639K
KTOS icon
205
Kratos Defense & Security Solutions
KTOS
$10.8B
$877K 0.13%
33,248
-51,779
-61% -$1.33M
SAIC icon
206
Saic
SAIC
$5.25B
$869K 0.13%
+7,777
New +$1.03M
KALU icon
207
Kaiser Aluminum
KALU
$2.8B
$867K 0.13%
12,342
+6,276
+103% +$478K
BUSE icon
208
First Busey Corp
BUSE
$2.59B
$864K 0.13%
+36,639
New +$938K
MKL icon
209
Markel Group
MKL
$23.2B
$863K 0.13%
+500
New +$830K
ST icon
210
Sensata Technologies
ST
$6.74B
$858K 0.13%
+31,301
New +$1.02M
PECO icon
211
Phillips Edison & Co
PECO
$5.24B
$849K 0.13%
+22,666
New +$863K
UPS icon
212
United Parcel Service
UPS
$87.7B
$847K 0.12%
6,714
-667
-9% -$87.8K
VCYT icon
213
Veracyte
VCYT
$3.71B
$845K 0.12%
+21,337
New +$808K
ALEX
214
DELISTED
Alexander & Baldwin
ALEX
$844K 0.12%
+47,603
New +$897K
CALM icon
215
Cal-Maine
CALM
$3.98B
$844K 0.12%
+8,204
New +$774K
DTM icon
216
DT Midstream
DTM
$13.6B
$844K 0.12%
8,490
+5,245
+162% +$499K
VTWO icon
217
Vanguard Russell 2000 ETF
VTWO
$17.7B
$842K 0.12%
9,431
-368
-4% -$34K
BKU icon
218
Bankunited
BKU
$3.37B
$842K 0.12%
22,056
+13,149
+148% +$506K
SNOW icon
219
Snowflake
SNOW
$110B
$839K 0.12%
5,435
+332
+7% +$46.7K
EXEL icon
220
Exelixis
EXEL
$13.1B
$838K 0.12%
25,176
+7,152
+40% +$232K
ACAD icon
221
Acadia Pharmaceuticals
ACAD
$4.9B
$832K 0.12%
45,319
-29,225
-39% -$472K
FBRT
222
Franklin BSP Realty Trust
FBRT
$635M
$831K 0.12%
+66,246
New +$856K
USFD icon
223
US Foods
USFD
$23.6B
$828K 0.12%
+12,270
New +$805K
FFIN icon
224
First Financial Bankshares
FFIN
$4.97B
$821K 0.12%
+22,779
New +$884K
WDAY icon
225
Workday
WDAY
$42B
$821K 0.12%
3,180
-60,100
-95% -$15.4M
7 8
9
10 11

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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.