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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
GOOGL icon
1
Alphabet (Google) Class A
GOOGL
$3.95T
$139M 20.85%
994,649
+694,649
+232% +$93.3M
WDAY icon
2
Workday
WDAY
$32.6B
$19.3M 2.89%
69,830
+66,274
+1,864% +$15.8M
FOUR icon
3
Shift4
FOUR
$3.7B
$18.6M 2.79%
+250,044
New +$14.9M
P
4
Everpure Inc
P
$24.6B
$18.4M 2.76%
+514,899
New +$18.1M
APP icon
5
Applovin
APP
$131B
$17.4M 2.6%
435,465
+396,053
+1,005% +$15.5M
HYG icon
6
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
$16.5M 2.48%
+213,646
New +$15.9M
KKR icon
7
KKR & Co
KKR
$86.4B
$14.9M 2.23%
179,468
+23,690
+15% +$1.6M
VT icon
8
Vanguard Total World Stock ETF
VT
$76.2B
$11.3M 1.69%
109,598
-32,732
-23% -$3.15M
LIVN icon
9
LivaNova
LIVN
$4.34B
$7.76M 1.16%
+149,967
New +$7.26M
WERN icon
10
Werner Enterprises
WERN
$2.59B
$7.6M 1.14%
179,305
+72,561
+68% +$2.84M
CRI icon
11
Carter's
CRI
$1.37B
$7.43M 1.11%
99,161
+22,128
+29% +$1.54M
LNG icon
12
Cheniere Energy
LNG
$57.7B
$7.34M 1.1%
43,023
+10,209
+31% +$1.75M
BKLN icon
13
Invesco Senior Loan ETF
BKLN
$7.1B
$7.03M 1.05%
331,750
+95,903
+41% +$2.01M
VWO icon
14
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$6.99M 1.05%
170,102
-14,823
-8% -$588K
ACI icon
15
Albertsons Companies
ACI
$5.36B
$6.47M 0.97%
281,295
+184,369
+190% +$4.07M
JNK icon
16
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.24B
$5.85M 0.88%
61,709
-17,225
-22% -$1.57M
VO icon
17
Vanguard Mid-Cap ETF
VO
$106B
$5.79M 0.87%
99,476
+8,668
+10% +$463K
LBRDK icon
18
Liberty Broadband Class C
LBRDK
$4.17B
$5.78M 0.87%
71,779
+39,087
+120% +$3.28M
FOXF icon
19
Fox Factory Holding Corp
FOXF
$771M
$4.91M 0.74%
+72,831
New +$5.31M
AMLX icon
20
Amylyx Pharmaceuticals
AMLX
$1.97B
$4.6M 0.69%
312,463
+212,307
+212% +$3.25M
CALX icon
21
Calix
CALX
$2.28B
$4.54M 0.68%
103,829
+99,256
+2,170% +$3.97M
CDP icon
22
COPT Defense Properties
CDP
$4.29B
$4.37M 0.66%
170,661
+88,562
+108% +$2.15M
GO icon
23
Grocery Outlet
GO
$894M
$4.35M 0.65%
161,283
+53,877
+50% +$1.51M
CRBG icon
24
Corebridge Financial
CRBG
$13.8B
$4.26M 0.64%
196,780
+78,676
+67% +$1.62M
EMB icon
25
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$4.15M 0.62%
46,613
+10,285
+28% +$866K
1
2 3 4 5

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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.