Dan Sundheim's D1 Capital Partners exited or cut back large positions in big tech names and added to hotel and real estate holdings in the second quarter.
Dan Sundheim's D1 Capital Partners slashed its holdings in some of the largest technology stocks in favor of new bets on a major hotel chain and real estate stocks, according to a 13F filing with the Securities and Exchange Commission covering second quarter investments. The fund purchased a nearly $300 million stake in Hilton as well as $153 million in apartment real estate investment trust Avalonbay Communities .
D1 also trimmed more than 25% worth of its holding in Facebook-parent Meta Platforms , now worth $219 million. The firm slashed nearly 40% of a $448 million holding in Microsoft in the latest quarter. The XBox maker now stands at $326 million. Meanwhile, D1 added new semiconductor holdings. Sundheim took new positions in chipmakers AMD and Nvidia for $18 million and $57 million, respectively.
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