DARK FOREST CAPITAL MANAGEMENT LP Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$2.2B

Holdings

931

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (931 positions)

#	Stock	Shares	Value	% Portfolio
1	EEMISHARES MSCI EMERGING MARKET	551,274	$30.0M	1.37%
2	WMTWALMART INC	154,918	$17.0M	0.78%
3	AXSAXIS CAPITAL HOLDINGS LTD	155,964	$16.0M	0.73%
4	CVXCHEVRON CORP	98,347	$14.0M	0.64%
5	TOSTTOAST INC-CLASS A	418,286	$14.0M	0.64%
6	UNPUNION PACIFIC CORP	57,938	$13.0M	0.59%
7	SPGSIMON PROPERTY GROUP INC	67,279	$12.0M	0.55%
8	ALSNALLISON TRANSMISSION HOLDING	115,533	$11.0M	0.50%
9	RPRXROYALTY PHARMA PLC- CL A	278,313	$10.0M	0.46%
10	PFSIPENNYMAC FINANCIAL SERVICES	83,391	$10.0M	0.46%
11	DTEDTE ENERGY COMPANY	80,633	$10.0M	0.46%
12	OMFONEMAIN HOLDINGS INC	145,699	$9.0M	0.41%
13	LLOEWS CORP	89,906	$9.0M	0.41%
14	PLDPROLOGIS INC	75,468	$9.0M	0.41%
15	BFAMBRIGHT HORIZONS FAMILY SOLUT	89,203	$9.0M	0.41%
16	BROSDUTCH BROS INC-CLASS A	162,584	$9.0M	0.41%
17	PCGP G & E CORP	603,045	$9.0M	0.41%
18	SBUXSTARBUCKS CORP	97,064	$8.0M	0.37%
19	BPOPPOPULAR INC	68,033	$8.0M	0.37%
20	LAZLAZARD INC	174,421	$8.0M	0.37%
21	RITMRITHM CAPITAL CORP	784,237	$8.0M	0.37%
22	MODMODINE MANUFACTURING CO	63,816	$8.0M	0.37%
23	SSNCSS&C TECHNOLOGIES HOLDINGS	98,875	$8.0M	0.37%
24	LLYELI LILLY & CO	7,987	$8.0M	0.37%
25	VICIVICI PROPERTIES INC	285,590	$8.0M	0.37%
26	GOOGALPHABET INC-CL C	25,723	$8.0M	0.37%
27	MSFTMICROSOFT CORP	17,355	$8.0M	0.37%
28	NEENEXTERA ENERGY INC	108,181	$8.0M	0.37%
29	LTHLIFE TIME GROUP HOLDINGS INC	312,040	$8.0M	0.37%
30	FTAIFTAI AVIATION LTD	44,147	$8.0M	0.37%
31	AMZNAMAZON.COM INC	32,391	$7.0M	0.32%
32	COFCAPITAL ONE FINANCIAL CORP	30,157	$7.0M	0.32%
33	AAPLAPPLE INC	26,442	$7.0M	0.32%
34	ATMUATMUS FILTRATION TECHNOLOGIE	151,943	$7.0M	0.32%
35	PNRPENTAIR PLC	69,904	$7.0M	0.32%
36	AVGOBROADCOM INC	22,149	$7.0M	0.32%
37	RTXRTX CORP	40,959	$7.0M	0.32%
38	SITESITEONE LANDSCAPE SUPPLY INC	58,433	$7.0M	0.32%
39	UHAL/BU-HAUL HOLDING CO-NON VOTING	156,067	$7.0M	0.32%
40	EWZISHARES MSCI BRAZIL ETF	239,954	$7.0M	0.32%
41	BOKFBOK FINANCIAL CORPORATION	59,939	$7.0M	0.32%
42	ITWILLINOIS TOOL WORKS	31,475	$7.0M	0.32%
43	MRVLMARVELL TECHNOLOGY INC	84,980	$7.0M	0.32%
44	VRTVERTIV HOLDINGS CO-A	48,338	$7.0M	0.32%
45	LAURLAUREATE EDUCATION INC	233,506	$7.0M	0.32%
46	AMATAPPLIED MATERIALS INC	30,731	$7.0M	0.32%
47	WTMWHITE MOUNTAINS INSURANCE GP	3,615	$7.0M	0.32%
48	AGNCAGNC INVESTMENT CORP	724,956	$7.0M	0.32%
49	ANETARISTA NETWORKS INC	47,910	$6.0M	0.27%
50	SUISUN COMMUNITIES INC	49,155	$6.0M	0.27%
51	CAGCONAGRA BRANDS INC	398,934	$6.0M	0.27%
52	EBCEASTERN BANKSHARES INC	350,044	$6.0M	0.27%
53	LNGCHENIERE ENERGY INC	34,119	$6.0M	0.27%
54	NVDANVIDIA CORP	32,440	$6.0M	0.27%
55	RGLDROYAL GOLD INC	28,774	$6.0M	0.27%
56	PLXSPLEXUS CORP	47,268	$6.0M	0.27%
57	MMM3M CO	40,169	$6.0M	0.27%
58	XRAYDENTSPLY SIRONA INC	599,434	$6.0M	0.27%
59	VLYVALLEY NATIONAL BANCORP	574,542	$6.0M	0.27%
60	UI2KEMPER CORP	153,223	$6.0M	0.27%
61	DWDMORGAN STANLEY	35,689	$6.0M	0.27%
62	SFSTIFEL FINANCIAL CORP	55,846	$6.0M	0.27%
63	RNGRINGCENTRAL INC-CLASS A	221,917	$6.0M	0.27%
64	FFORD MOTOR CO	410,797	$5.0M	0.23%
65	ROADCONSTRUCTION PARTNERS INC-A	54,257	$5.0M	0.23%
66	SHWSHERWIN-WILLIAMS CO/THE	15,665	$5.0M	0.23%
67	DISWALT DISNEY CO/THE	50,947	$5.0M	0.23%
68	RBRKRUBRIK INC-A	67,444	$5.0M	0.23%
69	OHIOMEGA HEALTHCARE INVESTORS	124,888	$5.0M	0.23%
70	LIFLIFE360 INC	92,663	$5.0M	0.23%
71	IFFINTL FLAVORS & FRAGRANCES	76,560	$5.0M	0.23%
72	BNLBROADSTONE NET LEASE INC	318,980	$5.0M	0.23%
73	WMWASTE MANAGEMENT INC	23,270	$5.0M	0.23%
74	PKPARK HOTELS & RESORTS INC	481,350	$5.0M	0.23%
75	FCNCAFIRST CITIZENS BCSHS -CL A	2,468	$5.0M	0.23%
76	ROPROPER TECHNOLOGIES INC	13,272	$5.0M	0.23%
77	VEEVVEEVA SYSTEMS INC-CLASS A	26,332	$5.0M	0.23%
78	PNWPINNACLE WEST CAPITAL	63,424	$5.0M	0.23%
79	URIUNITED RENTALS INC	6,978	$5.0M	0.23%
80	AVAAVISTA CORP	136,614	$5.0M	0.23%
81	CFGCITIZENS FINANCIAL GROUP	92,579	$5.0M	0.23%
82	ROKUROKU INC	54,602	$5.0M	0.23%
83	CRCRANE CO	27,551	$5.0M	0.23%
84	BMYBRISTOL-MYERS SQUIBB CO	104,004	$5.0M	0.23%
85	OMCOMNICOM GROUP	67,528	$5.0M	0.23%
86	DELLDELL TECHNOLOGIES -C	40,883	$5.0M	0.23%
87	CFRCULLEN/FROST BANKERS INC	44,743	$5.0M	0.23%
88	WSTWEST PHARMACEUTICAL SERVICES	20,131	$5.0M	0.23%
89	FELEFRANKLIN ELECTRIC CO INC	59,724	$5.0M	0.23%
90	BACVERIZON COMMUNICATIONS INC	124,536	$5.0M	0.23%
91	LYFTLYFT INC-A	289,319	$5.0M	0.23%
92	EQREQUITY RESIDENTIAL	76,387	$4.0M	0.18%
93	AEPAMERICAN ELECTRIC POWER	38,863	$4.0M	0.18%
94	NFGNATIONAL FUEL GAS CO	52,570	$4.0M	0.18%
95	NOGNORTHERN OIL AND GAS INC	195,702	$4.0M	0.18%
96	FERGFERGUSON ENTERPRISES INC	18,569	$4.0M	0.18%
97	MCKMCKESSON CORP	5,977	$4.0M	0.18%
98	PECOPHILLIPS EDISON & COMPANY IN	121,778	$4.0M	0.18%
99	LOARLOAR HOLDINGS INC	65,164	$4.0M	0.18%
100	NUENUCOR CORP	26,181	$4.0M	0.18%

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