Hedge fund D1 Capital initiated new positions in some stocks tied to artificial intelligence during the third quarter, according to a new securities filing. Daniel Sundheim’s fund has bought shares in the major technology companies that have pushed the bull market to new heights in recent months: members of the Magnificent Seven, Nvidia and Meta Platforms, according to filings. The fund also began investing in software stocks Broadcom and Synopsys. While none of the four companies were in the fund’s top 10 stock positions, Broadcom ranked highest in the fund with more than $220 million, according to InsiderScore data. Meta was close behind with over $199 million, followed by Nvidia and Synopsys with over $115 million and $77 million, respectively. The AI industry experienced volatility in November, with investors concerned about the “very high” valuations of the people featured in the show and whether a bubble was forming. Month-to-date, all four stocks are firmly in negative territory. Synopsys is down 14% this month, and Broadcom is down more than 7%. Nvidia and Meta have both experienced losses of about 6% so far. NVDA Mountain 2025-11-01 Nvidia, Month to Date Beyond these new positions, the fund increased its stake in Applovin, increasing its stake by 5.9% and bringing its holdings to more than $601 million. This is the second highest ranking for the fund. Aprovin has rebounded more than 12% since the beginning of the month. The fund increased its holdings in another technology stock, Reddit. The position increased by about 5% to more than $465 million, putting it in the fund’s top five. Earlier this year, the social media company launched a new AI-powered advertising tool that boosted its stock price. The stock has outperformed the S&P 500 index year-to-date, rising more than 18% compared to the market-wide index’s rise of more than 14%. Instacart remained the top position among the fund’s positions, with a value of more than $829 million. Notably, Sundheim serves on the board of an online grocery delivery company. However, the fund reduced its holdings in several financial stocks, specifically Bank of America, Capital One Financial, and Apollo Global Management. Bank of America’s position fell more than 30% to more than $285 million, and the fund’s position at Capital One fell more than 15% to more than $208 million. Apollo’s holdings fell by about 18% to more than $154 million. Sundheim started D1 in 2018 and previously worked at Viking Global Investors, where he spent his 15-year career.
