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DARK FOREST CAPITAL MANAGEMENT LP

Q3 2025 · Filed 2025-11-17
Market Value
$3.3B
+32.7%
Holdings
1,498
-36
New Purchases
387
Added To
344
Closed
2
Reduced
346
Top 10 Concentration
5.3%
Turnover
26.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
L 0.68% 0.12% +0.56% $22M
VWO 0.52% 0.00% +0.52% $17M
INDA 0.52% 0.00% +0.52% $17M
EWZ 0.68% 0.16% +0.52% $22M
XBI 0.33% 0.00% +0.33% $11M
PNW 0.31% 0.00% +0.31% $10M
BPOP 0.33% 0.03% +0.30% $11M
WMT 0.41% 0.11% +0.30% $13M
JPM 0.28% 0.00% +0.28% $9M
IDA 0.29% 0.01% +0.28% $9M
MTB 0.27% 0.00% +0.27% $9M
GS 0.45% 0.20% +0.25% $15M
RPRX 0.24% 0.00% +0.24% $8M
RGA 0.24% 0.00% +0.24% $8M
PECO 0.25% 0.03% +0.23% $8M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LNG 0.12% 0.80% -0.68% $4M
PANW 0.17% 0.73% -0.56% $5M
NVDA 0.24% 0.73% -0.49% $8M
AAPL 0.13% 0.53% -0.40% $4M
MSFT 0.36% 0.74% -0.38% $12M
ORI 0.01% 0.38% -0.37% $244K
PSX 0.01% 0.38% -0.37% $487K
MS 0.19% 0.54% -0.35% $6M
LMT 0.02% 0.34% -0.33% $490K
GGG 0.19% 0.52% -0.32% $6M
SBAC 0.01% 0.31% -0.31% $259K
SNV 0.08% 0.37% -0.29% $3M
ARW 0.06% 0.35% -0.29% $2M
SRE 0.03% 0.32% -0.29% $878K
MGY 0.18% 0.46% -0.28% $6M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 40 $216M 6.7%
Large Cap 508 $1.3B 41.1%
Mid Cap 611 $1.3B 39.7%
Small Cap 323 $406M 12.5%
Micro Cap 16 $4M 0.1%

Portfolio Analytics

Avg Market Cap
$40.7B
Median Market Cap
$5.7B
Avg P/E
33.8
Median P/E
21.6
Avg Dividend Yield
0.02%
Avg Beta
1.08
# Stocks
1,489
# ETFs / Funds
9

Top Holdings (1,498 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 L 0.68% 221,212 $22M $100.39 $19M +188,812 +582.8%
2 EWZ 0.68% 710,893 $22M $31.00 $18M +573,446 +417.2%
3 SPG 0.65% 112,073 $21M $187.67 $5M +9,794 +9.6%
4 VWO 0.52% 313,918 $17M $54.18 +313,918 NEW
5 INDA 0.52% 324,340 $17M $52.06 +324,340 NEW
6 COF 0.50% 76,644 $16M $212.58 $6M +28,363 +58.8%
7 BAH 0.46% 150,305 $15M $99.95 $7M +74,634 +98.6%
8 GS 0.45% 18,485 $15M $796.35 $10M +11,436 +162.2%
9 WMT 0.41% 128,038 $13M $103.06 $11M +100,781 +369.7%
10 BAC 0.38% 263,328 $12M $47.32
11 MSFT 0.36% 22,326 $12M $517.95 -$7M -14,058 -38.6%
12 AXS 0.35% 117,596 $11M $95.80 $7M +75,564 +179.8%
13 CTAS 0.34% 54,463 $11M $205.26 $3M +19,506 +55.8%
14 AMZN 0.33% 49,500 $11M $219.57 -$2M -7,128 -12.6%
15 BPOP 0.33% 84,880 $11M $127.01 $10M +78,105 +1152.8%
16 XBI 0.33% 105,995 $11M $100.20 +105,995 NEW
17 ALSN 0.32% 123,992 $11M $84.88 $6M +75,772 +157.1%
18 OLED 0.32% 73,138 $11M $143.63 $6M +46,225 +171.8%
19 LRCX 0.32% 77,802 $10M $133.90 $7M +43,168 +124.6%
20 NFLX 0.32% 8,671 $10M $1,198.92 $4M +3,797 +77.9%
21 AXP 0.31% 30,828 $10M $332.16 $5M +14,103 +84.3%
22 TIP 0.31% 91,743 $10M $111.22 $108K
23 PNW 0.31% 110,992 $10M $89.66 +110,992 NEW
24 FITB 0.30% 219,437 $10M $44.55 $6M +133,448 +155.2%
25 GE 0.30% 37,785 $10M $257.39
26 UNP 0.30% 40,769 $10M $236.37 $1M +5,369 +15.2%
27 GIS 0.29% 189,069 $10M $50.42 $2M +53,164 +39.1%
28 FTI 0.29% 273,462 $9M $34.44
29 IDA 0.29% 71,266 $9M $132.15 $9M +68,569 +2542.4%
30 TCBI 0.29% 110,521 $9M $84.53 $6M +66,402 +150.5%
31 FERG 0.28% 40,461 $9M $224.58 -$3M -16,975 -29.6%
32 JPM 0.28% 28,657 $9M $315.43 +28,657 NEW
33 MTB 0.27% 44,361 $9M $197.62 +44,361 NEW
34 NE 0.27% 325,454 $9M $26.55
35 DTE 0.26% 59,182 $8M $141.43 $7M +50,933 +617.4%
36 CACI 0.25% 16,592 $8M $498.78 $3M +5,777 +53.4%
37 PECO 0.25% 240,702 $8M $34.33 $8M +222,092 +1193.4%
38 POR 0.25% 185,942 $8M $44.00 -$457K -26,679 -12.6%
39 AMED 0.25% 83,111 $8M $98.39
40 PLD 0.25% 70,699 $8M $114.52 $4M +32,907 +87.1%
41 ZM 0.25% 97,793 $8M $82.50 $6M +74,949 +328.1%
42 OVV 0.25% 199,065 $8M $40.38 $5M +123,288 +162.7%
43 PB 0.25% 120,443 $8M $66.35 $1M +27,670 +29.8%
44 TSCO 0.25% 140,206 $8M $56.87 $8M +131,282 +1471.1%
45 RPRX 0.24% 224,632 $8M $35.28 +224,632 NEW
46 RGA 0.24% 41,115 $8M $192.13 +41,115 NEW
47 CB 0.24% 27,741 $8M $282.25 $6M +21,049 +314.5%
48 ROKU 0.24% 78,070 $8M $100.13 $4M +37,871 +94.2%
49 TKO 0.24% 38,537 $8M $201.96 $4M +20,262 +110.9%
50 LAUR 0.24% 246,178 $8M $31.54 $6M +176,077 +251.2%
51 NVDA 0.24% 41,540 $8M $186.58 -$10M -71,980 -63.4%
52 KEX 0.23% 91,437 $8M $83.45 $4M +57,623 +170.4%
53 SON 0.23% 175,054 $8M $43.09 $5M +114,962 +191.3%
54 GEV 0.23% 14,213 $8M $529.15
55 SUI 0.23% 58,135 $7M $129.00 $4M +31,003 +114.3%
56 UHAL-B 0.23% 147,326 $7M $50.90 $5M +94,100 +176.8%
57 VEEV 0.23% 24,995 $7M $297.91 -$4M -14,814 -37.2%
58 SYK 0.22% 19,687 $7M $369.67 +19,687 NEW
59 CVX 0.22% 46,214 $7M $155.29 +46,214 NEW
60 LLY 0.22% 9,319 $7M $763.00 $203K +458 +5.2%
61 ESNT 0.22% 111,479 $7M $63.56 $2M +21,625 +24.1%
62 BNL 0.22% 396,124 $7M $17.87 $5M +266,801 +206.3%
63 AVGO 0.22% 21,446 $7M $329.91 $3M +5,432 +33.9%
64 KDP 0.22% 212,566 $7M $33.06
65 KHC 0.22% 269,592 $7M $26.04 -$4M -158,345 -37.0%
66 TMUS 0.21% 29,121 $7M $239.38 $3M +10,613 +57.3%
67 RELY 0.21% 368,281 $7M $18.77
68 CRH.L 0.21% 57,653 $7M $119.90 +57,653 NEW
69 AOS 0.21% 92,226 $7M $73.41 $310K -6,303 -6.4%
70 ENS 0.21% 59,815 $7M $112.96 +59,815 NEW
71 ITW 0.21% 25,897 $7M $260.76 $6M +22,194 +599.4%
72 GPC 0.21% 55,640 $7M $121.31
73 KGS 0.21% 195,260 $7M $34.27
74 EHC 0.21% 52,499 $7M $127.02 $5M +37,934 +260.4%
75 EPR 0.20% 110,878 $6M $58.01 $6M +102,877 +1285.8%
76 OMF 0.20% 113,660 $6M $56.46 $5M +84,597 +291.1%
77 URI 0.20% 6,669 $6M $954.66 $4M +3,025 +83.0%
78 CLH 0.20% 27,367 $6M $232.22 $20K -36 -0.1%
79 SCCO 0.20% 52,277 $6M $121.36 $1M +2,320 +4.6%
80 GGG 0.19% 74,561 $6M $84.96 -$6M -72,605 -49.3%
81 AIT 0.19% 24,243 $6M $261.05 $883K +817 +3.5%
82 CRUS 0.19% 50,454 $6M $125.29 $990K -687 -1.3%
83 HQY 0.19% 66,292 $6M $94.77 $6M +60,220 +991.8%
84 BSX 0.19% 64,309 $6M $97.63 $956K +14,760 +29.8%
85 LITE 0.19% 38,504 $6M $162.71 $6M +31,443 +445.3%
86 STZ 0.19% 46,315 $6M $134.67 $6M +41,865 +940.8%
87 W 0.19% 69,623 $6M $89.33 +69,623 NEW
88 MS 0.19% 38,751 $6M $158.96 -$7M -55,836 -59.0%
89 BKH 0.19% 100,003 $6M $61.59 $197K -6,270 -5.9%
90 BFAM 0.19% 56,715 $6M $108.57 +56,715 NEW
91 PLXS 0.19% 42,556 $6M $144.69 $4M +24,495 +135.6%
92 CDP 0.19% 211,410 $6M $29.06 $702K +14,091 +7.1%
93 SYNA 0.19% 89,338 $6M $68.34 $3M +35,705 +66.6%
94 DHI 0.19% 35,906 $6M $169.47 $4M +20,889 +139.1%
95 GEHC 0.19% 80,968 $6M $75.10 +80,968 NEW
96 MKL 0.19% 3,038 $6M $1,997.36
97 SMCI 0.19% 126,112 $6M $47.94 +126,112 NEW
98 MSI 0.19% 13,204 $6M $457.29 $5M +11,908 +918.8%
99 CNP 0.18% 154,569 $6M $38.80 $798K +13,058 +9.2%
100 PPC 0.18% 144,852 $6M $40.72 -$61K +12,365 +9.3%

Options Breakdown

3 Calls $4M Call Value 5 Puts $19M Put Value 4.38 P/C Ratio

Top Calls

SymbolSharesValueStatus
XLF 45,000 $2M
LQDA 42,500 $966K
AMZN 4,000 $878K

Top Puts

SymbolSharesValueStatus
SPY 13,500 $9M
IWM 20,000 $5M
XLE 27,500 $2M
EFA 15,000 $1M
CB 3,500 $988K

New Positions

SymbolValue% Port
VWO $17M 0.52%
INDA $17M 0.52%
XBI $11M 0.33%
PNW $10M 0.31%
JPM $9M 0.28%
MTB $9M 0.27%
RPRX $8M 0.24%
RGA $8M 0.24%
SYK $7M 0.22%
CVX $7M 0.22%
CRH.L $7M 0.21%
ENS $7M 0.21%
W $6M 0.19%
BFAM $6M 0.19%
GEHC $6M 0.19%

Sold Out Positions

SymbolValue% Port
0I4Q.L —%
OSTK —%
View SEC EDGAR Filings for DARK FOREST CAPITAL MANAGEMENT LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms