# DARK FOREST CAPITAL MANAGEMENT LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1853322. Source: https://holderbook.com/funds/1853322-dark-forest-capital-management-lp/

- Reported value: $1.5B
- Positions: 777
- Weight of the ten largest: 7.2%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [INDA](https://holderbook.com/stocks/INDA/) | $16.9M | 342,603 | 1.1% | 1 |
| AXIS CAP HLDGS LTD | [AXS](https://holderbook.com/stocks/AXS/) | $13.2M | 122,795 | 0.9% | 8 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $11.7M | 10,106 | 0.8% | 3 |
| SS&C TECH HLDGS | [SSNC](https://holderbook.com/stocks/SSNC/) | $11.5M | 185,954 | 0.7% | 4 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $11.3M | 22,596 | 0.7% | 1 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $10.3M | 8,625 | 0.7% | 9 |
| DTE ENERGY CO | [DTE](https://holderbook.com/stocks/DTE/) | $9.2M | 60,651 | 0.6% | 8 |
| WEC ENERGY GROUP INC | [WEC](https://holderbook.com/stocks/WEC/) | $9.2M | 78,819 | 0.6% | 6 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $9.0M | 69,367 | 0.6% | 2 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $8.4M | 31,148 | 0.5% | 8 |
| IDEX CORP | [IEX](https://holderbook.com/stocks/IEX/) | $8.2M | 36,200 | 0.5% | 1 |
| PENNYMAC FINL SVCS INC NEW | [PFSI](https://holderbook.com/stocks/PFSI/) | $7.7M | 88,378 | 0.5% | 9 |
| FIFTH THIRD BANCORP | [FITB](https://holderbook.com/stocks/FITB/) | $7.7M | 136,111 | 0.5% | 2 |
| BLUE OWL CAPITAL INC | [OWL](https://holderbook.com/stocks/OWL/) | $7.7M | 875,846 | 0.5% | 5 |
| ROYALTY PHARMA PLC | [RPRX](https://holderbook.com/stocks/RPRX/) | $7.6M | 134,982 | 0.5% | 4 |
| ONEMAIN HLDGS INC | [OMF](https://holderbook.com/stocks/OMF/) | $7.1M | 116,682 | 0.5% | 8 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $7.1M | 20,928 | 0.5% | 1 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $7.0M | 21,127 | 0.5% | 1 |
| CITIZENS FINL GROUP INC | [CFG](https://holderbook.com/stocks/CFG/) | $6.9M | 98,519 | 0.4% | 6 |
| PRIMO BRANDS CORPORATION | [PRMB](https://holderbook.com/stocks/PRMB/) | $6.8M | 278,767 | 0.4% | 5 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $6.8M | 69,277 | 0.4% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $6.8M | 26,935 | 0.4% | 1 |
| HUBSPOT INC | [HUBS](https://holderbook.com/stocks/HUBS/) | $6.8M | 37,034 | 0.4% | 6 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $6.7M | 17,870 | 0.4% | 10 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $6.5M | 8,931 | 0.4% | 9 |
| NVR INC | [NVR](https://holderbook.com/stocks/NVR/) | $6.4M | 938 | 0.4% | 8 |
| CENCORA INC | [COR](https://holderbook.com/stocks/COR/) | $6.2M | 22,055 | 0.4% | 1 |
| HUNTINGTON BANCSHARES INC | [HBAN](https://holderbook.com/stocks/HBAN/) | $6.2M | 351,747 | 0.4% | 5 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $6.2M | 18,834 | 0.4% | 4 |
| UNUM GROUP | [UNM](https://holderbook.com/stocks/UNM/) | $5.9M | 66,426 | 0.4% | 3 |
| DRAFTKINGS INC NEW | [DKNG](https://holderbook.com/stocks/DKNG/) | $5.8M | 230,131 | 0.4% | 5 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $5.8M | 16,912 | 0.4% | 3 |
| FIRST FINL BANKSHARES INC | [FFIN](https://holderbook.com/stocks/FFIN/) | $5.7M | 166,092 | 0.4% | 7 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $5.7M | 52,933 | 0.4% | 2 |
| LOEWS CORP | [L](https://holderbook.com/stocks/L/) | $5.7M | 50,310 | 0.4% | 8 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $5.7M | 21,160 | 0.4% | 15 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $5.6M | 89,818 | 0.4% | 6 |
| CONSTRUCTION PARTNERS INC | [ROAD](https://holderbook.com/stocks/ROAD/) | $5.6M | 47,202 | 0.4% | 12 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $5.6M | 174,690 | 0.4% | 4 |
| CONAGRA BRANDS INC | [CAG](https://holderbook.com/stocks/CAG/) | $5.5M | 409,174 | 0.4% | 6 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $5.5M | 32,776 | 0.4% | 2 |
| HOULIHAN LOKEY INC | [HLI](https://holderbook.com/stocks/HLI/) | $5.5M | 40,895 | 0.4% | 1 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $5.4M | 39,939 | 0.3% | 1 |
| ZILLOW GROUP INC | [Z](https://holderbook.com/stocks/Z/) | $5.4M | 171,283 | 0.3% | 3 |
| CVB FINL CORP | [CVBF](https://holderbook.com/stocks/CVBF/) | $5.4M | 238,859 | 0.3% | 5 |
| ZOOM COMMUNICATIONS INC | [ZM](https://holderbook.com/stocks/ZM/) | $5.4M | 62,138 | 0.3% | 5 |
| TUTOR PERINI CORP | [TPC](https://holderbook.com/stocks/TPC/) | $5.3M | 64,306 | 0.3% | 6 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $5.3M | 18,900 | 0.3% | 1 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $5.2M | 20,142 | 0.3% | 8 |
| LPL FINL HLDGS INC | [LPLA](https://holderbook.com/stocks/LPLA/) | $5.2M | 18,439 | 0.3% | 2 |
| XYLEM INC | [XYL](https://holderbook.com/stocks/XYL/) | $5.2M | 43,785 | 0.3% | 2 |
| KARMAN HLDGS INC | [KRMN](https://holderbook.com/stocks/KRMN/) | $5.1M | 102,646 | 0.3% | 2 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $5.1M | 26,089 | 0.3% | 2 |
| NICOLET BANKSHARES INC | [NIC](https://holderbook.com/stocks/NIC/) | $5.0M | 30,280 | 0.3% | 5 |
| V F CORP | [VFC](https://holderbook.com/stocks/VFC/) | $5.0M | 299,963 | 0.3% | 1 |
| HELIOS TECHNOLOGIES INC | [HLIO](https://holderbook.com/stocks/HLIO/) | $5.0M | 55,819 | 0.3% | 7 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $4.9M | 12,331 | 0.3% | 3 |
| DILLARDS INC | [DDS](https://holderbook.com/stocks/DDS/) | $4.9M | 9,266 | 0.3% | 9 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $4.9M | 64,425 | 0.3% | 7 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $4.8M | 52,214 | 0.3% | 1 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $4.8M | 25,345 | 0.3% | 4 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $4.8M | 4,927 | 0.3% | 2 |
| BOSTON BEER INC | [SAM](https://holderbook.com/stocks/SAM/) | $4.7M | 26,691 | 0.3% | 1 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $4.7M | 23,388 | 0.3% | 4 |
| IES HOLDINGS INC | [IESC](https://holderbook.com/stocks/IESC/) | $4.7M | 6,408 | 0.3% | 4 |
| SEABOARD CORP DEL | [SEB](https://holderbook.com/stocks/SEB/) | $4.7M | 1,045 | 0.3% | 3 |
| BOOT BARN HLDGS INC | [BOOT](https://holderbook.com/stocks/BOOT/) | $4.7M | 28,361 | 0.3% | 6 |
| TEXAS ROADHOUSE INC | [TXRH](https://holderbook.com/stocks/TXRH/) | $4.7M | 24,102 | 0.3% | 3 |
| COGNIZANT TECHNOLOGY SOLUTIO | [CTSH](https://holderbook.com/stocks/CTSH/) | $4.6M | 120,048 | 0.3% | 3 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $4.6M | 17,095 | 0.3% | 2 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $4.6M | 26,956 | 0.3% | 8 |
| RLI CORP | [RLI](https://holderbook.com/stocks/RLI/) | $4.6M | 77,071 | 0.3% | 1 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $4.5M | 21,768 | 0.3% | 1 |
| SELECT WATER SOLUTIONS INC | [WTTR](https://holderbook.com/stocks/WTTR/) | $4.5M | 223,097 | 0.3% | 2 |
| EQUITABLE HLDGS INC | [EQH](https://holderbook.com/stocks/EQH/) | $4.4M | 101,291 | 0.3% | 3 |
| MERIT MED SYS INC | [MMSI](https://holderbook.com/stocks/MMSI/) | $4.4M | 64,052 | 0.3% | 2 |
| DENTSPLY SIRONA INC | [XRAY](https://holderbook.com/stocks/XRAY/) | $4.3M | 408,379 | 0.3% | 3 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $4.3M | 19,977 | 0.3% | 5 |
| ASSOCIATED BANC CORP | [ASB](https://holderbook.com/stocks/ASB/) | $4.3M | 140,087 | 0.3% | 1 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $4.3M | 87,361 | 0.3% | 1 |
| VISTANCE NETWORKS INC | [VISN](https://holderbook.com/stocks/VISN/) | $4.3M | 333,339 | 0.3% | 4 |
| INCYTE CORP | [INCY](https://holderbook.com/stocks/INCY/) | $4.2M | 37,331 | 0.3% | 3 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $4.2M | 98,856 | 0.3% | 10 |
| MARZETTI COMPANY | [MZTI](https://holderbook.com/stocks/MZTI/) | $4.2M | 36,504 | 0.3% | 3 |
| BJS WHSL CLUB HLDGS INC | [BJ](https://holderbook.com/stocks/BJ/) | $4.1M | 47,321 | 0.3% | 2 |
| CHURCH & DWIGHT CO INC | [CHD](https://holderbook.com/stocks/CHD/) | $4.1M | 42,139 | 0.3% | 3 |
| ALLISON TRANSMISSION HLDGS I | [ALSN](https://holderbook.com/stocks/ALSN/) | $4.0M | 35,875 | 0.3% | 8 |
| SILGAN HLDGS INC | [SLGN](https://holderbook.com/stocks/SLGN/) | $4.0M | 87,107 | 0.3% | 5 |
| SEMPRA | [SRE](https://holderbook.com/stocks/SRE/) | $4.0M | 43,579 | 0.3% | 1 |
| EASTMAN CHEM CO | [EMN](https://holderbook.com/stocks/EMN/) | $4.0M | 59,587 | 0.3% | 6 |
| CBOE GLOBAL MKTS INC | [CBOE](https://holderbook.com/stocks/CBOE/) | $4.0M | 16,438 | 0.3% | 1 |
| TXNM ENERGY INC | [TXNM](https://holderbook.com/stocks/TXNM/) | $4.0M | 70,195 | 0.3% | 1 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $4.0M | 5,255 | 0.3% | 8 |
| MADISON SQUARE GARDEN ENTMT | [MSGE](https://holderbook.com/stocks/MSGE/) | $4.0M | 48,977 | 0.3% | 3 |
| MSA SAFETY INC | [MSA](https://holderbook.com/stocks/MSA/) | $3.9M | 22,543 | 0.3% | 5 |
| SIRIUSXM HOLDINGS INC | [SIRI](https://holderbook.com/stocks/SIRI/) | $3.9M | 132,842 | 0.3% | 6 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $3.9M | 4,009 | 0.3% | 1 |
| ARROW ELECTRS INC | [ARW](https://holderbook.com/stocks/ARW/) | $3.9M | 18,362 | 0.3% | 2 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $3.9M | 31,466 | 0.3% | 3 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $3.9M | 28,599 | 0.3% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +14.2% | +14.8% | -0.6% | 100% |
| Q1 2026 | -0.0% | -4.6% | +4.6% | 100% |
| Q4 2025 | +1.8% | +2.4% | -0.5% | 100% |
| Q3 2025 | +6.3% | +7.8% | -1.5% | 99% |
| Q2 2025 | +8.0% | +10.5% | -2.5% | 99% |
| Q1 2025 | -5.9% | -4.6% | -1.4% | 100% |
| Q4 2024 | +1.9% | +2.1% | -0.3% | 99% |
| Q3 2024 | +8.4% | +5.4% | +3.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.5B | 777 |
| Q1 2026 | $1.1B | 766 |
| Q4 2025 | $2.2B | 931 |
| Q3 2025 | $2.7B | 1,111 |
| Q2 2025 | $2.5B | 1,139 |
| Q1 2025 | $2.2B | 1,195 |
| Q4 2024 | $678.2M | 887 |
| Q3 2024 | $782.5M | 937 |
| Q2 2024 | $546.3M | 637 |
| Q1 2024 | $590.6M | 673 |
| Q4 2023 | $666.3M | 426 |
| Q3 2023 | $1.3B | 1,064 |