D1 Capital hikes its bet on this entertainment stock by more than 400%

[Pelican Press 0]

D1 Capital hikes its bet on this entertainment stock by more than 400%

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parent Meta Platforms ,

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and

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, while upping his stake in

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parent Alphabet by 21%, or $59 million. Meta was the firm’s fourth-largest position, totaling $382 million at the end of the *******, despite a 37% cut. All four tech stocks have continued to outperform this year following a blowout 2023 that was fueled by artificial intelligence and growth bets. Meta is the outperformer of the group, up 34% in 2024. Outside the major technology players, Sundheim boosted his position in Philip Morris International by about 53% to roughly $664 million, making it the firm’s second-largest holding behind Instacart . He also upped a bet on Equity Residential by 56%, or about $152 million. Instacart shares are up 41% in 2024, while Philip Morris is up about 7% year to date. The hedge fund amassed a fresh $218 million stake in Pfizer during the *******, making it the firm’s 10 largest holding. D1 Capital also opened a position in UnitedHealth , while trimming Elevance Health and diabetes and medical device maker Insulet . Other fresh bets include GE Vernova and Royal Caribbean . Sundheim vacated positions in Mastercard , Visa and RH .

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RH,Live Nation Entertainment Inc,Spotify Technology SA,Meta Platforms Inc,Alphabet Inc,

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.com Inc,

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Corp,Philip Morris International Inc,Equity Residential,Instacart (Maplebear Inc),Pfizer Inc,Elevance Health Inc,UnitedHealth Group Inc,Insulet Corp,GE Vernova Inc,Royal Caribbean Cruises Ltd,Mastercard Inc,Visa Inc,Stock markets,Investment strategy,business news
#Capital #hikes #bet #entertainment #stock

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