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Daniel Sundheim’s D1 Capital has opened new positions in a major homebuilder and some industrial stocks during the second quarter. According to securities filings, the hedge fund added a position in D.R. Horton valued at $198.5 million. The fund also took up positions in key industrial stocks like Flowserve and Louisiana-Pacific worth $88.3 million and $155.8 million, respectively. Additionally, D1 began a position in global life sciences and diagnostics conglomerate Danaher worth $32.1 million. Sundheim’s move comes as U.S. homebuilders have been cutting prices at the highest rate in three years as they continue to face a weakening in demand from buyers over worries about the state of the broader economy. However, D.R. Horton wasn’t the fund’s top holding. Instacart took the top spot even with no change in shares with a position valued at more than $1.02 billion. XPO was a distant second in the period with the funds holding of that name, which saw a 3% increase in shares to $397.2 million. The fund also increased its positions in key financial names. Bank of America and Capital One Financial saw their positions rise by 9.1% and 43.3%, which put their stakes at $376.9 million and $247.2 million, respectively. Apollo Global Management saw a gain of 10.9% to $200.7 million. By contrast, the fund decreased its positions in “Magnificent Seven” name Amazon by 26%, bringing the holding to $153.8 million. It also dropped its position in software company Ansys by 24%, putting it at $229.9 million, and dissolved its position in fellow software name Synopsys . Sundheim spent 15 years at Viking Global Investors, eventually becoming CIO, before founding D1 in 2018.
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