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Daniel Sundheim’s D1 Capital made significant buys in Big Tech stocks during the third quarter and saw one large private holding enter the public market, according to securities filings . The hedge fund increased its stake in Microsoft by nearly 78% while more than doubling its shares in Meta Platforms during the third quarter. That put both positions at more than $500 million as of the end of September. But neither of those two stocks were the biggest position in the D1 portfolio. The fund’s position in Instacart , also known as Maplebear, was worth more than $850 million at the end of the third quarter, according to the filing. Instacart went public in September. Previous filings by D1 showed that the hedge fund owned shares in Instacart while it was still private, and then converted those into common stock after the initial public offering. Elsewhere in tech, D1 sold more than a third of its shares in Alphabet but added a new stake worth roughly $115 million in Amazon . The buying of Big Tech stock marks a reversal from D1 Capital’s moves earlier this year . Outside of technology, D1 added a position in Invitation Homes worth $275 million, and in South American financial firm Nu Holdings and tobacco giant Philip Morris worth more than $280 million each. The fund also initiated a stake in Entegris worth more than $100 million. Sundheim’s fund also exited several positions, including a stake Datadog that was worth about $23 million at the end of the second quarter, and a PNC Financial stake worth about $50 million. Sundheim previously worked as chief investment officer at Viking Global Investors under Andreas Halvorsen. D1 Capital has more than $27 billion in assets under management, according to WhaleWisdom.com. The equity positions shown the third-quarter 13-F filing totaled nearly $7 billion.
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