A few of the well-known equities that billionaire hedge fund king Daniel Sundheim has been liquidating in 2022 include JD.com, Inc., Shopify Inc., and Carvana Co. Hedge fund and venture capital company D1 Capital Partners is run by Daniel Sundheim and is situated in New York. The Tiger Cub has accumulated a $3.2 billion personal fortune. Sundheim previously held the position of chief investment officer of Viking Global, a $59 billion hedge fund. With a return of 60%, D1 Capital was among the best-performing funds in 2020. In 2021, it had a difficult start after losing billions due to a GameStop short squeeze. At the end of May, the fund’s year-to-date performance was down 22.5 percent. As of March 31, Sundheim reduced his exposure to equities in the communications sector by roughly 5 percentage points, to 2.79 percent. Though tech stocks now make up a quarter of his Portfolio Managers’ Portfolio, consumer discretionary stocks still make up more than half of its assets.
Insider Monkey takes a look at 10 stocks the billionaire hedge fund manager sold off in Q1. During the third quarter of last year, Sundheim’s hedge fund acquired a sizable interest in the manufacturer of medical equipment Masimo Corporation. The billionaire’s fund sold all 507,397 of the shares it still owned as of December 31 during the first quarter. Over the past year, shares of Block, Inc., the parent company of Square, Cash App, Spiral, and TIDAL, have fallen by 72%. Just a short time after initiating a long position in the company, Daniel Sundheim sold off all of the stocks in his 13F portfolio. Another stock that Daniel Sundheim purchased during Q4 and then completely sold the following quarter was Toast Inc. In 2022, the value of the company’s stock has decreased by 61%. It offers cloud-based software to the restaurant business. As business travel started to pick up, Coupa Software Incorporated surpassed expectations in its fiscal Q1. The company’s revenue increased by 18% year over year to $196 million. Former stockholders of the corporation that sold their shares included Sundheim’s D1 Capital. In Q3 Sundheim’s fund purchased a fresh interest in Bath & Body Works Inc., but sold off more than half of it in Q4. Susan Anderson, a B. Riley analyst, has a “Buy” rating on BBWI shares but has cut her price target to $67. For more details, click Billionaire Hedge Fund Manager Just Sold Off Shopify Inc (SHOP) and 9 Other Stocks.
