Daniel Sundheim’s D1 Capital bought a number of big-name technology stocks in the first quarter, but Meta didn’t find the same support. Hedge funds zeroed out more than 376,000 shares of the social media giant’s stock over a three-month period, according to regulatory filings. Mr. Sundheim’s position was worth more than $240 million. Parent company Facebook fell more than 13% in the first quarter, marking its third straight negative quarter and its biggest quarterly loss since 2022. The stock has since rebounded, rising more than 7% since the beginning of April. META YTD Mountain 2026 Meta Platform Sundheim also reduced its holdings to zero in Synopsys and Arista Networks during this period. The Viking Global alumnus has reduced his position at Spotify by 14% to just over 340,000 shares. But the University of Pennsylvania graduate added more than 34% to his Amazon position, making it the fund’s eighth-largest position by value, according to Insider Score. His shares in the e-commerce giant are currently worth about $376.5 million. Amazon shares fell more than 9% in the first quarter, posting a loss for the first time in four quarters. However, the stock is up more than 26% in the current three months and is expected to rise more than 14% in 2026. Sandheim similarly increased his holdings in artificial intelligence stocks, including Broadcom and Nvidia, during the quarter. He opened stocks in several stocks including Alphabet, ASML, and Taiwan Semiconductor. Instacart remained the fund’s largest holding during the quarter, valued at $845 million, according to InsiderScore. Mr. Sundheim has been a director of Instacart since 2020.
