Great investors · Dan Sundheim · Q2 2025
What Dan Sundheim bought and sold in Q2 2025
D1 Capital Partners 13F portfolio as of Jun 30, 2025: 33 positions worth $7.2 bn. Largest: CART, XPO, BAC, CNM. Filed with the SEC on Aug 14, 2025.
The 13F is filed by D1 Capital Partners, not by Dan Sundheim personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q2 2025
- IncreasedClean HarborsCLH+4.0 pp
- NewD.R. HortonDHI+2.8 pp
- IncreasedNu HoldingsNU+2.7 pp
- NewLouisiana-pacificLPX+2.2 pp
- IncreasedToll BrothersTOL+1.4 pp
- IncreasedLineageLINE+1.3 pp
- IncreasedSomnigroup InternationalSGI+1.3 pp
- NewFlowserveFLS+1.2 pp
- IncreasedCapital One FinancialCOF+1.0 pp
- IncreasedCore & MainCNM+0.9 pp
- NewViking HoldingsVIK+0.9 pp
- IncreasedCarpenter TechnologyCRS+0.8 pp
Sells in Q2 2025
- Sold outRoyal Caribbean CruisesRCL−3.2 pp
- Sold outCanadian Pacific Kansas CityCP−2.3 pp
- Sold outSynopsysSNPS−2.0 pp
- Sold outCharles River Laboratories InternationalCRL−1.6 pp
- ReducedElevance HealthELV−1.4 pp
- Sold outCarvanaCVNA−1.1 pp
- ReducedCharles SchwabSCHW−1.1 pp
- ReducedAnsysANSS−1.0 pp
- Sold outBath & Body WorksBBWI−0.9 pp
- ReducedBecton, DickinsonBDX−0.8 pp
- ReducedAmazon.comAMZN−0.8 pp
- Sold outLennarLEN−0.7 pp
27 companies with material moves, out of 41 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
D1 Capital Partners's Q2 2025 13F lists 33 lines of US-listed securities worth $7.2 bn; the largest is CART at 14.2% of the portfolio. It was accepted by the SEC on Aug 14, 2025 at 9:02 AM ET.
Against the previous quarter, it opened 5 positions (DHI, LPX, FLS and VIK and 1 more), closed 13 (RCL, CP, SNPS and CRL and 9 more), added to 12 (CLH, NU, TOL and SGI and 8 more) and trimmed 11 (SCHW, ANSS, ELV and PM and 7 more). 5 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Maplebear CART | 22.6 M | $1.0 bn | 14.2% | no change |
| 2 | XPO XPO | 3.1 M | $397M | 5.51% | +3% |
| 3 | Bank of America BAC | 8.0 M | $377M | 5.23% | +9.1% |
| 4 | Core & Main CNM | 6.0 M | $363M | 5.04% | +22% |
| 5 | Entegris ENTG | 4.2 M | $336M | 4.67% | −1.3% |
| 6 | Clean Harbors CLH | 1.4 M | $334M | 4.63% | +648% |
| 7 | Nu Holdings NU | 24.1 M | $331M | 4.60% | +146% |
| 8 | Charles Schwab SCHW | 3.5 M | $322M | 4.46% | −19% |
| 9 | Reddit RDDT | 1.9 M | $290M | 4.03% | +7.8% |
| 10 | AppLovin APP | 789,982 | $277M | 3.84% | no change |
| 11 | Capital One Financial COF | 1.2 M | $247M | 3.43% | +43% |
| 12 | Ansys ANSS | 654,435 | $230M | 3.19% | −24% |
| 13 | Carpenter Technology CRS | 822,387 | $227M | 3.16% | +33% |
| 14 | Philip Morris International PM | 1.2 M | $223M | 3.10% | −19% |
| 15 | Lineage LINE | 4.6 M | $201M | 2.79% | +88% |
| 16 | Apollo Global Management APO | 1.4 M | $201M | 2.79% | +11% |
| 17 | D.R. Horton DHI | 1.5 M | $198M | 2.75% | new |
| 18 | Toll Brothers TOL | 1.6 M | $183M | 2.54% | +132% |
| 19 | Somnigroup International SGI | 2.7 M | $181M | 2.52% | +99% |
| 20 | Louisiana-pacific LPX | 1.8 M | $156M | 2.16% | new |
| 21 | Alaska Air Group ALK | 3.1 M | $156M | 2.16% | −24% |
| 22 | Amazon.com AMZN | 700,887 | $154M | 2.13% | −26% |
| 23 | Primo Brands PRMB | 4.8 M | $142M | 1.98% | −7.9% |
| 24 | Elevance Health ELV | 326,411 | $127M | 1.76% | −44% |
| 25 | Flowserve FLS | 1.7 M | $88.3M | 1.23% | new |
| 26 | GE Healthcare Technologies GEHC | 1.2 M | $85.9M | 1.19% | −7.2% |
| 27 | US Foods Holding USFD | 1.0 M | $79.5M | 1.10% | −22% |
| 28 | Kilroy Realty KRC | 1.9 M | $64.7M | 0.90% | no change |
| 29 | Viking Holdings VIK | 1.2 M | $61.3M | 0.85% | new |
| 30 | Becton, Dickinson BDX | 335,272 | $57.8M | 0.80% | −50% |
| 31 | Affirm Holdings AFRM | 820,000 | $56.7M | 0.79% | no change |
| 32 | Danaher DHR | 162,507 | $32.1M | 0.45% | new |
| 33 | Lexeo Therapeutics LXEO | 978,652 | $3.9M | 0.05% | no change |
Positions it closed (13)
- Royal Caribbean Cruises RCLwas 3.51% · 1.1 M shares
- Canadian Pacific Kansas City CPwas 2.50% · 2.3 M shares
- Synopsys SNPSwas 2.20% · 334,700 shares
- Charles River Laboratories International CRLwas 1.79% · 777,489 shares
- Carvana CVNAwas 1.19% · 370,000 shares
- Bath & Body Works BBWIwas 1.02% · 2.2 M shares
- Lennar LENwas 0.82% · 468,433 shares
- Cadence Design Systems CDNSwas 0.77% · 198,000 shares
- Intel INTCwas 0.50% · 1.4 M shares
- Applied Materials AMATwas 0.46% · 205,000 shares
- Lam Research LRCXwas 0.45% · 403,000 shares
- Restaurant Brands International QSRwas 0.09% · 92,833 shares
- Warby Parker WRBYwas 0.07% · 257,306 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: D1 Capital Partners's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.