D1 Capital’s Big Tech Buying Spree Skips Meta

Hedge fund D1 Capital made sweeping moves across the technology sector in the first quarter of 2026, CNBC reported Friday, buying aggressively into artificial intelligence names while eliminating its entire position in Meta Platforms.

D1 Capital Tech Stocks Surge in Q1 Filings

Founder Daniel Sundheim liquidated more than 376,000 Meta shares during the quarter, a stake previously valued at over $240 million. The social media company fell more than 13% in that three-month period. That marked its third consecutive quarterly decline and its steepest single-quarter loss since 2022. Meta shares have since recovered, gaining more than 7% from April onward.

Sundheim also closed out positions in chip design software firm Synopsys and networking company Arista Networks. He trimmed his Spotify holding by roughly 14%, leaving the fund with just over 340,000 shares in the streaming giant.

Amazon and AI Names Fill the Gap

On the buying side, Sundheim expanded his Amazon position by more than 34%. The e-commerce and cloud giant is now D1’s eighth-largest holding by value, with the stake worth approximately $376.5 million, according to data from InsiderScore. Amazon shares fell over 9% in Q1, its first losing quarter in four, but have since surged more than 26% in the current period.

Sundheim also built new positions in Alphabet, Dutch chip equipment maker ASML, and Taiwan Semiconductor. He added to existing stakes in Nvidia and Broadcom. Those moves signal a deliberate tilt toward the infrastructure and processing layer of the AI supply chain.

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Instacart Remains D1’s Crown Jewel

Despite all the portfolio reshuffling, grocery delivery platform Instacart held its position as D1’s largest single holding. The stake was valued at $845 million at quarter end, according to InsiderScore. Sundheim has served on Instacart’s board since 2020, giving the fund both financial and strategic exposure to the company.

The 13F filings that revealed these moves are required quarterly disclosures for institutional managers overseeing more than $100 million in U.S. equities. They reflect positions held at quarter end and do not capture trades made since then.

D1 Capital’s repositioning reflects a broader pattern among large hedge funds in Q1, with managers rotating away from richly valued consumer internet names and into picks tied to AI infrastructure buildout.

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