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 U.S. 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 . Sundheim also added 59% to a position in Jack Dorsey’s Block in the second quarter, now worth $101 million. D1 also exited its position in tech giants Amazon , Alibaba and Salesforce in the second quarter, the filing showed, and sold 21% of a stake in Google parent Alphabet. 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. The move follows Sundheim downsizing and divesting Nvidia holdings in the fourth quarter of 2022 and first quarter of 2023. Elsewhere, D1 added to positions in General Electric , Insulet and Elevance Health . The firm also fully divested positions in Live Nation Entertainment , Lowe’s and Expedia . The firm managed about $27 billion at the end of the second quarter, according to WhaleWisdom.com , including about $5 billion in 13F securities.
