During the fourth quarter, D1 Capital made some interesting moves by shifting its portfolio around and hopping onto stocks that have made a splash in early 2025, as detailed in their latest filing. Steering the ship, Daniel Sundheim guided the fund to cut ties with some blue-chip names like Bank of America and Microsoft, while slimming down its stake in Amazon. Meanwhile, the fund decided to dive into fresh waters with new investments in 3M, AppLovin, Elevance Health, Delta Air Lines, and Capital One Financial.
Noteworthy among their fresh picks, 3M and Elevance Health sailed right into the fund’s top 10 equity positions by the close of December. And Instacart? It held its ground as the fund’s star player, boasting more than $900 million in value by the year’s end. It’s important to note that this filing offers just a snapshot of where their holdings stood as of December 31, so it doesn’t shed light on any trades made during or after the quarter. Plus, any other non-equity assets they might have aren’t part of this reveal.
If D1 has managed to hang onto these newly acquired stocks, they could be off to a promising start for the year. AppLovin, for instance, has already spiked a whopping 57%, and 3M shares have climbed up by 15% since January began. There was also a new $93 million stake in Vistra Corp, a utility stock thriving thanks to the buzz around artificial intelligence in the energy sector. Vistra has climbed 22% thus far, recovering from a steep drop during the DeepSeek sell-off in January.
In other developments, D1 decided it was time to cash in on its investments in Starbucks, Carnival Corp, and Viking Holdings. Nevertheless, they’re still betting big on the cruise industry, holding onto a significant chunk in Royal Caribbean. Daniel Sundheim, who founded D1 back in 2017 after his stint with Viking Global, is not just running the fund but also lends his expertise to Instacart’s board of directors.
