Great investors · Dan Sundheim · Q3 2025
What Dan Sundheim bought and sold in Q3 2025
D1 Capital Partners 13F portfolio as of Sep 30, 2025: 38 positions worth $8.7 bn. Largest: CART, APP, CLH, RDDT. Filed with the SEC on Nov 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 Q3 2025
- NewJames Hardie IndustriesJHX+4.2 pp
- IncreasedFlowserveFLS+3.5 pp
- NewMercadoLibreMELI+3.5 pp
- IncreasedKilroy RealtyKRC+3.2 pp
- IncreasedClean HarborsCLH+2.7 pp
- NewSeaSE+2.7 pp
- NewBroadcomAVGO+2.5 pp
- NewMeta PlatformsMETA+2.3 pp
- IncreasedUS Foods HoldingUSFD+2.0 pp
- IncreasedPrimo BrandsPRMB+1.8 pp
- IncreasedDanaherDHR+1.7 pp
- NewKnight-Swift Transportation HoldingsKNX+1.7 pp
Sells in Q3 2025
- ReducedEntegrisENTG−3.2 pp
- ReducedNu HoldingsNU−2.6 pp
- Sold outD.R. HortonDHI−2.3 pp
- Sold outToll BrothersTOL−2.1 pp
- Sold outSomnigroup InternationalSGI−2.1 pp
- Sold outAmazon.comAMZN−1.8 pp
- Sold outElevance HealthELV−1.5 pp
- ReducedBank of AmericaBAC−1.4 pp
- ReducedLouisiana-pacificLPX−1.0 pp
- ReducedXPOXPO−0.9 pp
- ReducedPhilip Morris InternationalPM−0.9 pp
- ReducedCarpenter TechnologyCRS−0.9 pp
34 companies with material moves, out of 42 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 Q3 2025 13F lists 38 lines of US-listed securities worth $8.7 bn; the largest is CART at 9.52% of the portfolio. It was accepted by the SEC on Nov 14, 2025 at 1:21 PM ET.
Against the previous quarter, it opened 13 positions (JHX, MELI, SE and AVGO and 9 more), closed 7 (DHI, TOL, SGI and AMZN and 3 more), added to 10 (FLS, KRC, DHR and USFD and 6 more) and trimmed 12 (NU, BAC, ENTG and XPO and 8 more). 3 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Maplebear CART | 22.6 M | $829M | 9.52% | no change |
| 2 | AppLovin APP | 836,782 | $601M | 6.90% | +5.9% |
| 3 | Clean Harbors CLH | 2.4 M | $568M | 6.52% | +69% |
| 4 | Reddit RDDT | 2.0 M | $466M | 5.35% | +5.1% |
| 5 | Flowserve FLS | 7.5 M | $397M | 4.56% | +344% |
| 6 | James Hardie Industries JHX | 19.0 M | $365M | 4.19% | new |
| 7 | Charles Schwab SCHW | 3.8 M | $365M | 4.19% | +8.5% |
| 8 | Kilroy Realty KRC | 8.5 M | $358M | 4.12% | +350% |
| 9 | XPO XPO | 2.5 M | $324M | 3.72% | −20% |
| 10 | MercadoLibre MELI | 128,803 | $301M | 3.46% | new |
| 11 | Bank of America BAC | 5.5 M | $285M | 3.27% | −31% |
| 12 | Core & Main CNM | 5.2 M | $279M | 3.20% | −14% |
| 13 | Primo Brands PRMB | 11.8 M | $261M | 3.00% | +146% |
| 14 | US Foods Holding USFD | 3.4 M | $258M | 2.96% | +226% |
| 15 | Lineage LINE | 6.2 M | $239M | 2.74% | +34% |
| 16 | Sea SE | 1.3 M | $231M | 2.65% | new |
| 17 | Broadcom AVGO | 667,400 | $220M | 2.53% | new |
| 18 | Capital One Financial COF | 981,310 | $209M | 2.40% | −16% |
| 19 | Meta Platforms META | 271,400 | $199M | 2.29% | new |
| 20 | Danaher DHR | 908,691 | $180M | 2.07% | +459% |
| 21 | Nu Holdings NU | 10.2 M | $163M | 1.87% | −58% |
| 22 | Apollo Global Management APO | 1.2 M | $154M | 1.77% | −18% |
| 23 | Knight-Swift Transportation Holdings KNX | 3.7 M | $147M | 1.69% | new |
| 24 | Walt Disney DIS | 1.2 M | $138M | 1.59% | new |
| 25 | Carpenter Technology CRS | 505,329 | $124M | 1.42% | −39% |
| 26 | Philip Morris International PM | 740,308 | $120M | 1.38% | −40% |
| 27 | Wingstop WING | 472,135 | $119M | 1.36% | new |
| 28 | Alaska Air Group ALK | 2.3 M | $116M | 1.34% | −26% |
| 29 | NVIDIA NVDA | 616,600 | $115M | 1.32% | new |
| 30 | Entegris ENTG | 1.1 M | $106M | 1.22% | −72% |
| 31 | Synopsys SNPS | 156,783 | $77.4M | 0.89% | new |
| 32 | APi Group APG | 2.2 M | $75.8M | 0.87% | new |
| 33 | GE Healthcare Technologies GEHC | 994,584 | $74.7M | 0.86% | −14% |
| 34 | Louisiana-pacific LPX | 803,906 | $71.4M | 0.82% | −56% |
| 35 | EchoStar ECHO | 822,200 | $62.8M | 0.72% | new |
| 36 | Affirm Holdings AFRM | 820,000 | $59.9M | 0.69% | no change |
| 37 | TransDigm Group TDG | 30,800 | $40.6M | 0.47% | new |
| 38 | Lexeo Therapeutics LXEO | 978,652 | $6.5M | 0.07% | no change |
Positions it closed (7)
- D.R. Horton DHIwas 2.75% · 1.5 M shares
- Toll Brothers TOLwas 2.54% · 1.6 M shares
- Somnigroup International SGIwas 2.52% · 2.7 M shares
- Amazon.com AMZNwas 2.13% · 700,887 shares
- Elevance Health ELVwas 1.76% · 326,411 shares
- Viking Holdings VIKwas 0.85% · 1.2 M shares
- Becton, Dickinson BDXwas 0.80% · 335,272 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.