Dark Forest Capital Management LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Dark Forest Capital Management LP reported 887 stock positions worth $678.2 million. Its top holding was Alphabet Class A (GOOGL) at 2.8% of the portfolio, followed by CRH (CRH, 2.0%) and Trade Desk Inc./the Class A (TTD, 1.4%). Compared with Q3 2024, it opened 413 new positions, sold out of 464, added to 245 and reduced 226. The biggest buy was a new position in AppLovin Class A (APP) and the biggest sale an exit from St Sr Utl SL SE SPDR ETF-Usd (XLU).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001853322
- Portfolio Value
- $678.2M (Q4 2024)
- SEC Filing
- 0001853322-25-000003 ↗ filed Feb 14, 2025
Holdings Value
Holdings 887 stocks · $678.2M
| GOOGL Alphabet Inc. Class A | 2.82% | 100,988 | $19.1M | Reduce 0.0% |
| CRH CRH PLC | 1.95% | 143,258 | $13.3M | Add +1.5% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 1.41% | 81,497 | $9.6M | Reduce -39.9% |
| APP AppLovin Corp. Class A | 1.30% | 27,308 | $8.8M | New |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.15% | 99,072 | $7.8M | Add +28.5% |
| VWO Vanguard Ftse Emerging Marke | 0.84% | 129,275 | $5.7M | Add +11.0% |
| CPRI Capri Holdings Ltd. | 0.82% | 264,666 | $5.6M | New |
| GWRE Guidewire Software Inc. | 0.70% | 28,197 | $4.8M | New |
| ENTG Entegris Inc. | 0.68% | 46,601 | $4.6M | Reduce -10.6% |
| BKLN Invesco Senior Loan ETF | 0.65% | 210,392 | $4.4M | Reduce -7.0% |
| COIN Coinbase Global Inc. Class A | 0.65% | 17,726 | $4.4M | New |
| LBRDK Liberty Broadband-C | 0.61% | 55,231 | $4.1M | Reduce -25.3% |
| CC The Chemours Co. | 0.53% | 210,762 | $3.6M | New |
| V Visa Inc. Class A | 0.52% | 11,195 | $3.5M | Add +103.2% |
| ACI Albertsons Cos Inc. Class A | 0.52% | 179,956 | $3.5M | Reduce -35.9% |
| LNG Cheniere Energy Inc. | 0.52% | 16,302 | $3.5M | Add +379.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.51% | 8,378 | $3.4M | Add +44.8% |
| RPRX Royalty Pharma PLC Class A | 0.50% | 134,116 | $3.4M | Reduce -7.2% |
| HEI.A Heico Corp. Class A | 0.49% | 18,003 | $3.3M | Add +0.0% |
| CWAN Clearwater Analytics HDS-A | 0.48% | 118,993 | $3.3M | Add +473.5% |
| DOV Dover Corp. | 0.48% | 17,315 | $3.2M | Add +719.8% |
| ARWR Arrowhead Pharmaceuticals Inc. | 0.48% | 172,623 | $3.2M | Add +82.6% |
| FTI Technipfmc PLC | 0.48% | 111,787 | $3.2M | Reduce -46.8% |
| DAL Delta Air Lines Inc. | 0.47% | 52,726 | $3.2M | Add +802.1% |
| GT Goodyear Tire & Rubber Co. | 0.45% | 340,320 | $3.1M | Reduce -44.6% |
| VC Visteon Corp. | 0.45% | 34,401 | $3.1M | New |
| KMB Kimberly-Clark Corp. | 0.45% | 23,232 | $3.0M | Add +378.6% |
| CCI Crown Castle Inc. | 0.44% | 33,246 | $3.0M | Add +445.1% |
| BSY Bentley Systems Inc. Class B | 0.43% | 61,860 | $2.9M | Add +13.4% |
| MWA Mueller Water Products Inc. Class A | 0.42% | 127,181 | $2.9M | Reduce -35.3% |
| KAI Kadant Inc. | 0.42% | 8,230 | $2.8M | Reduce -36.0% |
| SPB Spectrum Brands Holdings Inc. | 0.42% | 33,356 | $2.8M | New |
| ATMU Atmus Filtration Technologie | 0.41% | 71,782 | $2.8M | Reduce -26.3% |
| D Dominion Energy Inc. | 0.40% | 50,679 | $2.7M | Add +189.9% |
| COOP Mr Cooper Group Inc. | 0.40% | 28,216 | $2.7M | Add +775.2% |
| HYGH iShares Int Rate Hedg HY ETF | 0.40% | 31,333 | $2.7M | Reduce -35.1% |
| VXUS Vanguard Total Intl Stock | 0.39% | 45,182 | $2.7M | Add +14.5% |
| KGS Kodiak Gas Services Inc. | 0.38% | 63,905 | $2.6M | Add +142.9% |
| ALSN Allison Transmission Holding | 0.37% | 23,387 | $2.5M | Reduce -29.8% |
| XYZ Block Inc. | 0.37% | 29,374 | $2.5M | New |
| NHI Natl Health Investors Inc. filed as NATIONAL HEALTH INVS INC | 0.37% | 36,007 | $2.5M | Reduce -31.0% |
| ORA Ormat Technologies Inc. | 0.36% | 36,342 | $2.5M | Add +465.5% |
| VCTR Victory Capital Holding - A | 0.36% | 37,402 | $2.4M | Reduce -36.4% |
| MCO Moody's Corp. | 0.31% | 4,404 | $2.1M | Add +209.7% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.30% | 11,822 | $2.0M | Add +636.6% |
| FRPT Freshpet Inc. | 0.29% | 13,470 | $2.0M | New |
| NE Noble Corp. PLC | 0.29% | 63,228 | $2.0M | Reduce -45.8% |
| CWST Casella Waste Systems Inc. Class A | 0.29% | 18,610 | $2.0M | Add +73.3% |
| BAH Booz Allen Hamilton Holdings | 0.29% | 15,255 | $2.0M | New |
| FERG Ferguson Enterprises Inc. | 0.29% | 11,282 | $2.0M | Add +520.6% |
| HHH Howard Hughes Holdings Inc. | 0.29% | 25,443 | $2.0M | Reduce -1.5% |
| ISRG Intuitive Surgical Inc. | 0.27% | 3,566 | $1.9M | Add +110.8% |
| TEL Te Connectivity PLC | 0.27% | 12,895 | $1.8M | Add +537.7% |
| ARES Ares Management Corp. Class A | 0.27% | 10,407 | $1.8M | New |
| ESI Element Solutions Inc. | 0.27% | 72,168 | $1.8M | Add +55.8% |
| LII Lennox International Inc. | 0.27% | 2,987 | $1.8M | Add +753.4% |
| MTUM iShares MSCI USA Momentum Fa | 0.27% | 8,765 | $1.8M | Add +86.3% |
| MGRC McGrath Rentcorp | 0.26% | 16,030 | $1.8M | New |
| OKTA Okta Inc. | 0.26% | 22,324 | $1.8M | Reduce -49.4% |
| SIGI Selective Insurance Group | 0.26% | 18,757 | $1.8M | Add +574.7% |
| CTRE Caretrust REIT Inc. | 0.26% | 64,479 | $1.7M | New |
| BNL Broadstone Net Lease Inc. | 0.25% | 108,821 | $1.7M | Reduce -48.6% |
| HWC Hancock Whitney Corp. | 0.25% | 31,310 | $1.7M | New |
| EMB iShares JP Morgan Usd Emergi | 0.25% | 19,141 | $1.7M | Add +19.6% |
| BSX Boston Scientific Corp. | 0.24% | 18,100 | $1.6M | Add +11.0% |
| APAM Artisan Partners Asset Ma -A | 0.24% | 37,534 | $1.6M | Add +648.3% |
| GTY Getty Realty Corp. | 0.24% | 53,601 | $1.6M | New |
| APO Apollo Global Management Inc. | 0.24% | 9,725 | $1.6M | Reduce -90.9% |
| ORI Old Republic Intl Corp. | 0.24% | 44,059 | $1.6M | Add +220.6% |
| C Citigroup Inc. | 0.23% | 22,595 | $1.6M | Add +25.8% |
| KDP Keurig Dr Pepper Inc. | 0.23% | 49,453 | $1.6M | Add +461.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.23% | 9,310 | $1.6M | Add +48.8% |
| TSN Tyson Foods Inc. Class A | 0.23% | 27,077 | $1.6M | Add +336.4% |
| GEF Greif Inc. Class A | 0.23% | 25,210 | $1.5M | Add +48.4% |
| AXS Axis Capital Holdings Ltd. | 0.23% | 17,324 | $1.5M | Add +41.7% |
| UAL United Airlines Holdings Inc. | 0.23% | 15,757 | $1.5M | Add +70.7% |
| AGNC AGNC Investment Corp. | 0.23% | 166,078 | $1.5M | Reduce -56.3% |
| DDOG Datadog Inc. Class A | 0.22% | 10,561 | $1.5M | Add +272.1% |
| VEEV Veeva Systems Inc. Class A | 0.22% | 7,164 | $1.5M | New |
| STZ Constellation Brands Inc. Class A | 0.22% | 6,739 | $1.5M | Add +585.5% |
| HRI Herc Holdings Inc. filed as HERC HLDGS INC | 0.22% | 7,862 | $1.5M | Reduce -63.5% |
| LHX L3HARRIS Technologies Inc. | 0.22% | 7,077 | $1.5M | Add +279.7% |
| PFSI Pennymac Financial Services | 0.22% | 14,381 | $1.5M | Reduce -26.9% |
| FRME First Merchants Corp. | 0.21% | 36,436 | $1.5M | New |
| JNK SS SPDR BB High Yield Bond | 0.21% | 15,214 | $1.5M | Reduce -0.5% |
| KHC The Kraft Heinz Co. | 0.21% | 47,020 | $1.4M | Add +377.9% |
| FHI Federated Hermes Inc. | 0.21% | 34,875 | $1.4M | Add +534.3% |
| WSBC Wesbanco Inc. | 0.21% | 44,034 | $1.4M | Add +328.9% |
| ALLE Allegion PLC | 0.21% | 10,953 | $1.4M | Add +11.1% |
| FLS Flowserve Corp. | 0.21% | 24,493 | $1.4M | New |
| XLF SS Financial Select Sector | 0.21% | 29,090 | $1.4M | Add +61.1% |
| WTM White Mountains Insurance GP | 0.21% | 719 | $1.4M | Reduce -15.5% |
| CDE Coeur Mining Inc. | 0.21% | 244,120 | $1.4M | Add +1063.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.20% | 31,609 | $1.4M | Reduce -21.6% |
| ICVT iShares Convertible Bond ETF | 0.20% | 15,990 | $1.4M | Reduce -1.5% |
| ESGR Enstar Group Ltd. | 0.20% | 4,148 | $1.3M | Reduce -40.3% |
| CRI Carter's Inc. | 0.20% | 24,583 | $1.3M | Reduce -66.6% |
| MDT Medtronic PLC | 0.20% | 16,644 | $1.3M | Add +183.8% |
| WOR Worthington Enterprises Inc. | 0.20% | 33,078 | $1.3M | Reduce -10.4% |
| PM Philip Morris International | 0.19% | 10,977 | $1.3M | Reduce -6.1% |
Portfolio Sells Q3 2024 → Q4 2024
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −2.87 |
| WDAY Workday Inc. Class A | Reduce -95.0% | 0.12% | −1.86 |
| APO Apollo Global Management Inc. | Reduce -90.9% | 0.24% | −1.47 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -95.8% | 0.05% | −0.89 |
| AAPL Apple Inc. | Sold out | 0.00% | −0.89 |
| MSFT Microsoft Corp. | Reduce -96.0% | 0.04% | −0.86 |
| DOCU Docusign Inc. | Sold out | 0.00% | −0.72 |
| AZTA Azenta Inc. | Reduce -90.4% | 0.07% | −0.57 |
| TTD Trade Desk Inc./the Class A | Reduce -39.9% | 1.41% | −0.49 |
| CCC CCC Intelligent Solutions Ho | Sold out | 0.00% | −0.47 |
| CRI Carter's Inc. | Reduce -66.6% | 0.20% | −0.41 |
| AMZN Amazon.com Inc. | Reduce -83.9% | 0.11% | −0.40 |
| BFAM Bright Horizons Family Solut | Reduce -76.2% | 0.11% | −0.40 |
| CBZ Cbiz Inc. | Sold out | 0.00% | −0.38 |
| TNET Trinet Group Inc. | Reduce -89.3% | 0.05% | −0.36 |
| ALTM Arcadium Lithium PLC | Sold out | 0.00% | −0.33 |
| LPLA LPL Financial Holdings Inc. | Sold out | 0.00% | −0.32 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.31 |
| FTAI Ftai Aviation Ltd. | Sold out | 0.00% | −0.31 |
| BECN Beacon Roofing Supply Inc. | Reduce -72.9% | 0.18% | −0.31 |
| ICFI Icf International Inc. | Sold out | 0.00% | −0.31 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.29 |
| KNX Knight-Swift Transportation | Sold out | 0.00% | −0.29 |
| AGNC AGNC Investment Corp. | Reduce -56.3% | 0.23% | −0.28 |
| SGRY Surgery Partners Inc. | Sold out | 0.00% | −0.28 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.28 |
| HIMS Hims & Hers Health Inc. | Sold out | 0.00% | −0.27 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.27 |
| OMF Onemain Holdings Inc. | Reduce -72.3% | 0.15% | −0.27 |
| HSIC Henry Schein Inc. | Sold out | 0.00% | −0.27 |
| GOLF Acushnet Holdings Corp. | Reduce -89.7% | 0.04% | −0.26 |
| BNL Broadstone Net Lease Inc. | Reduce -48.6% | 0.25% | −0.26 |
| AXONICS INC | Sold out | 0.00% | −0.25 |
| NE Noble Corp. PLC | Reduce -45.8% | 0.29% | −0.25 |
| BILL Bill Holdings Inc. | Sold out | 0.00% | −0.25 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.24 |
| GT Goodyear Tire & Rubber Co. | Reduce -44.6% | 0.45% | −0.24 |
| CMC Commercial Metals Co. | Reduce -72.4% | 0.10% | −0.24 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -80.5% | 0.07% | −0.24 |
| CAVA Cava Group Inc. | Reduce -70.5% | 0.11% | −0.24 |
| RIG Transocean Ltd. | Reduce -87.8% | 0.03% | −0.24 |
| PNW Pinnacle West Capital | Sold out | 0.00% | −0.23 |
| META Meta Platforms Inc. Class A | Reduce -71.7% | 0.12% | −0.23 |
| SKY Champion Homes Inc. | Reduce -72.6% | 0.10% | −0.23 |
| FTI Technipfmc PLC | Reduce -46.8% | 0.48% | −0.23 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.22 |
| HRI Herc Holdings Inc. | Reduce -63.5% | 0.22% | −0.22 |
| AHR American Healthcare REIT Inc. | Reduce -90.1% | 0.03% | −0.22 |
| PEGA Pegasystems Inc. | Reduce -90.8% | 0.03% | −0.21 |
| SOFI Sofi Technologies Inc. | Sold out | 0.00% | −0.21 |
Portfolio Buys Q3 2024 → Q4 2024
| APP AppLovin Corp. Class A | New | 1.30% | +1.30 |
| CPRI Capri Holdings Ltd. | New | 0.82% | +0.82 |
| GWRE Guidewire Software Inc. | New | 0.70% | +0.70 |
| COIN Coinbase Global Inc. Class A | New | 0.65% | +0.65 |
| CC The Chemours Co. | New | 0.53% | +0.53 |
| VC Visteon Corp. | New | 0.45% | +0.45 |
| LNG Cheniere Energy Inc. | Add +379.6% | 0.52% | +0.44 |
| DAL Delta Air Lines Inc. | Add +802.1% | 0.47% | +0.43 |
| DOV Dover Corp. | Add +719.8% | 0.48% | +0.43 |
| CWAN Clearwater Analytics HDS-A | Add +473.5% | 0.48% | +0.42 |
| SPB Spectrum Brands Holdings Inc. | New | 0.42% | +0.42 |
| XYZ Block Inc. | New | 0.37% | +0.37 |
| COOP Mr Cooper Group Inc. | Add +775.2% | 0.40% | +0.36 |
| KMB Kimberly-Clark Corp. | Add +378.6% | 0.45% | +0.36 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +28.5% | 1.15% | +0.36 |
| CCI Crown Castle Inc. | Add +445.1% | 0.44% | +0.35 |
| V Visa Inc. Class A | Add +103.2% | 0.52% | +0.33 |
| ORA Ormat Technologies Inc. | Add +465.5% | 0.36% | +0.30 |
| FRPT Freshpet Inc. | New | 0.29% | +0.29 |
| BAH Booz Allen Hamilton Holdings | New | 0.29% | +0.29 |
| KGS Kodiak Gas Services Inc. | Add +142.9% | 0.38% | +0.29 |
| CRH CRH PLC | Add +1.5% | 1.95% | +0.28 |
| D Dominion Energy Inc. | Add +189.9% | 0.40% | +0.27 |
| ARES Ares Management Corp. Class A | New | 0.27% | +0.27 |
| MGRC McGrath Rentcorp | New | 0.26% | +0.26 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Add +636.6% | 0.30% | +0.26 |
| CTRE Caretrust REIT Inc. | New | 0.26% | +0.26 |
| HWC Hancock Whitney Corp. | New | 0.25% | +0.25 |
| ARWR Arrowhead Pharmaceuticals Inc. | Add +82.6% | 0.48% | +0.24 |
| FERG Ferguson Enterprises Inc. | Add +520.6% | 0.29% | +0.24 |
| LII Lennox International Inc. | Add +753.4% | 0.27% | +0.24 |
| GTY Getty Realty Corp. | New | 0.24% | +0.24 |
| TEL Te Connectivity PLC | Add +537.7% | 0.27% | +0.23 |
| SIGI Selective Insurance Group | Add +574.7% | 0.26% | +0.23 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +44.8% | 0.51% | +0.22 |
| VEEV Veeva Systems Inc. Class A | New | 0.22% | +0.22 |
| MCO Moody's Corp. | Add +209.7% | 0.31% | +0.22 |
| FRME First Merchants Corp. | New | 0.21% | +0.21 |
| APAM Artisan Partners Asset Ma -A | Add +648.3% | 0.24% | +0.21 |
| FLS Flowserve Corp. | New | 0.21% | +0.21 |
| KDP Keurig Dr Pepper Inc. | Add +461.6% | 0.23% | +0.19 |
| NVT Nvent Electric PLC | New | 0.19% | +0.19 |
| CNXC Concentrix Corp. | New | 0.19% | +0.19 |
| CDE Coeur Mining Inc. | Add +1063.8% | 0.21% | +0.19 |
| STZ Constellation Brands Inc. Class A | Add +585.5% | 0.22% | +0.19 |
| FHI Federated Hermes Inc. | Add +534.3% | 0.21% | +0.19 |
| ATR Aptargroup Inc. | New | 0.19% | +0.19 |
| AHRT Ah Realty Trust Inc. | New | 0.18% | +0.18 |
| TXG 10X Genomics Inc. Class A | New | 0.18% | +0.18 |
| TSN Tyson Foods Inc. Class A | Add +336.4% | 0.23% | +0.18 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 777 | $1.5B | INDA, AXS, MU, SSNC, BRK.B |
| Q1 2026 | 766 | $1.1B | BPOP, AXS, CDE, ROKU, UNP |
| Q4 2025 | 931 | $2.2B | EEM, WMT, AXS, CVX, TOST |
| Q3 2025Amended | 1,110 | $2.7B | L, EWZ, SPG, VWO, INDA |
| Q2 2025 | 1,133 | $2.5B | LNG, MSFT, NVDA, PANW, SPG |
| Q1 2025 | 1,192 | $2.2B | LNG, CRH, GOOGL, AMCR, AXS |
| Q4 2024 | 887 | $678.2M | GOOGL, CRH, TTD, APP, HYG |
| Q3 2024 | 937 | $782.5M | XLU, GOOGL, WDAY, TTD, APO |
| Q2 2024 | 636 | $546.2M | GOOGL, PLTR, APO, AVTR, RPRX |
| Q1 2024 | 672 | $590.6M | GOOGL, CRWD, KKR, ESTC, EDR |