DARK FOREST CAPITAL MANAGEMENT LP
SEC Form 13F institutional filer · CIK 0001853322
13F-HR · 208 reported holdings · 2026-03-31
Reported long-US-equity value
$0.37B
Top-10 concentration
17.7%
DARK FOREST CAPITAL MANAGEMENT LP — $374M AUM allocation strategy
DARK FOREST CAPITAL MANAGEMENT LP files SEC Form 13F and reports $374M of long US equity value across 208 reported holdings for 2026-03-31.
Its largest sector bet is Industrials 9.9%, followed by Information Technology 7.4% and Health Care 3.0%.
The top 10 holdings account for 18% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
DARK FOREST CAPITAL MANAGEMENT LP — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$374M
total across 208 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
18% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$CPRT +35.8K sh · +$1.08M+$PGR +26.4K sh · −$644K+$MET +23.8K sh · +$1.62M
Biggest trims (shares)
−$PCG −475K sh · −$7.44M−$F −258K sh · −$3.63M−$WMT −128K sh · −$13.9M
Exited to nil (held last quarter, gone now)
$CVX ($15M last qtr)$SPG ($12.5M last qtr)$PLD ($9.63M last qtr)$VICI ($8.03M last qtr)$VRT ($7.83M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Rail Transportation2.5%—
- Semiconductors2.0%—
- Interactive Media & Services1.8%—
- Construction Machinery & Heavy Transportation Equipment1.8%—
- Building Products1.8%—
- Technology Hardware, Storage & Peripherals1.8%—
- Multi-Utilities1.7%—
- Health Care Technology1.5%—
- Other holdings85.2%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $UNP | Union Pacific Corporation | 38.6K | $9.36M | -19.3K | 2.5% |
| $MU | Micron Technology Inc | 21.9K | $7.39M | +8.44K | 2.0% |
| $GOOGL | Alphabet Inc | 24.2K | $6.95M | -1.49K | 1.9% |
| $CMI | Cummins Inc | 116K | $6.6M | -35.7K | 1.8% |
| $FERG | Ferguson Enterprises Inc | 28.3K | $6.59M | +9.69K | 1.8% |
| $AAPL | Apple Inc | 25.9K | $6.58M | -501 | 1.8% |
| $DTE | DTE Energy Company | 42.8K | $6.25M | -37.9K | 1.7% |
| $VEEV | Veeva Systems Inc | 33.1K | $5.82M | +6.77K | 1.6% |
| $SYK | Stryker Corporation | 17K | $5.59M | +14.2K | 1.5% |
| $BA | Boeing Company | 25.6K | $5.09M | +7.25K | 1.4% |
…and 198 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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