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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
LNG icon
1
Cheniere Energy
LNG
$55B
$19.5M 0.78%
80,240
-57,145
-42% -$13.2M
MSFT icon
2
Microsoft
MSFT
$2.93T
$18.1M 0.72%
36,384
+5,685
+19% +$2.47M
NVDA icon
3
NVIDIA
NVDA
$4.91T
$17.9M 0.71%
113,520
+48,761
+75% +$6.14M
PANW icon
4
Palo Alto Networks
PANW
$292B
$17.8M 0.71%
87,010
+31,099
+56% +$5.78M
SPG icon
5
Simon Property Group
SPG
$74.2B
$16.4M 0.66%
102,279
+94,812
+1,270% +$15M
MS icon
6
Morgan Stanley
MS
$339B
$13.3M 0.53%
94,587
+48,763
+106% +$5.99M
AAPL icon
7
Apple
AAPL
$4.9T
$12.9M 0.51%
62,762
+22,783
+57% +$4.6M
GGG icon
8
Graco
GGG
$12.4B
$12.7M 0.5%
147,166
+122,968
+508% +$10.2M
FERG icon
9
Ferguson
FERG
$45B
$12.5M 0.5%
57,436
+38,430
+202% +$7.07M
BAC icon
10
Bank of America
BAC
$430B
$12.5M 0.5%
263,328
+194,148
+281% +$8.17M
AMZN icon
11
Amazon
AMZN
$2.66T
$12.4M 0.5%
56,628
+12,049
+27% +$2.38M
VEEV icon
12
Veeva Systems
VEEV
$31.7B
$11.5M 0.46%
39,809
+20,697
+108% +$5.13M
MGY icon
13
Magnolia Oil & Gas
MGY
$5.04B
$11.2M 0.45%
496,807
+326,087
+191% +$7.22M
KHC icon
14
Kraft Heinz
KHC
$30.7B
$11M 0.44%
427,937
+336,172
+366% +$9.33M
BLK icon
15
Blackrock
BLK
$166B
$10.3M 0.41%
9,859
+5,107
+107% +$4.83M
COF icon
16
Capital One
COF
$128B
$10.3M 0.41%
48,281
+36,780
+320% +$6.86M
TIP icon
17
iShares TIPS Bond ETF
TIP
$14.6B
$10.1M 0.4%
+91,743
New +$10M
GE icon
18
GE Aerospace
GE
$362B
$9.73M 0.39%
37,785
+394
+1% +$86.5K
FTI icon
19
TechnipFMC
FTI
$28.7B
$9.42M 0.38%
273,462
+68,961
+34% +$2.08M
ORI icon
20
Old Republic International
ORI
$10.3B
$9.31M 0.37%
242,296
-24,617
-9% -$926K
PSX icon
21
Phillips 66
PSX
$82.9B
$9.31M 0.37%
+78,033
New +$8.74M
DOV icon
22
Dover
DOV
$28.8B
$9.18M 0.37%
50,127
+7,546
+18% +$1.31M
SNV
23
DELISTED
Synovus
SNV
$9.05M 0.36%
174,893
+108,930
+165% +$5.01M
RRR icon
24
Red Rock Resorts
RRR
$3.79B
$8.88M 0.35%
170,725
+49,497
+41% +$2.26M
NE icon
25
Noble Corp
NE
$6.62B
$8.64M 0.34%
325,454
+32,358
+11% +$777K
1
2 3 4 5

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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.