D1 Capital

Q3 2020 13F · by Daniel Sundheim, founder

As of: Sep 30, 2020
Filed: Nov 16, 2020
US stock: $17.1B · prev $13.4B
Positions: 49 · prev 47
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves58 since the prior filing

+32.3 pp in · −32.2 pp out

New 13 +17.54 pp
Added 21 +14.80 pp
Trimmed 13 −25.80 pp
Exited 11 −6.43 pp

The book

Focused · behaves like 25 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 99% a year, about 1.0 years per position

Low
Moderate
High

Top 5 positions33% of US stock

JD JD.com, Inc. added+0.42 pp added+0.429.5%
U Unity Software Inc. new+6.63 pp new+6.636.6%
CVNA Carvana Co. added+5.55 pp added+5.556.5%
MSFT Microsoft Corp added+1.40 pp added+1.405.6%
EXPE Expedia Group, Inc. added+1.35 pp added+1.355.0%

Positions49 in this filing · 11 exited


JDJD.com, Inc.	9.49%	20,876,088	$1.6B	added+3%	+0.42 pp	7 q
UUnity Software Inc.	6.63%	12,966,567	$1.1B	new	+6.63 pp	new
CVNACarvana Co.	6.48%	4,960,070	$1.1B	added×4.8	+5.55 pp	2 q
MSFTMicrosoft Corp	5.59%	4,538,751	$955M	added+64%	+1.40 pp	3 q
EXPEExpedia Group, Inc.	4.98%	9,267,872	$850M	added+57%	+1.35 pp	2 q
USBU.S. Bancorp	4.38%	20,864,643	$748M	added+18%	−0.48 pp	3 q
JPMJPMorgan Chase & Co.	4.27%	7,577,000	$729M	added+23%	−0.06 pp	2 q
HLTHilton Worldwide Holdings Inc.	4.00%	8,011,021	$684M	trimmed−29%	−2.18 pp	8 q
ORLYO'Reilly Automotive, Inc.	3.67%	1,358,909	$627M	trimmed−24%	−1.98 pp	4 q
METAMeta Platforms, Inc. Class A	3.40%	2,215,789	$580M	added+25%	+0.39 pp	7 q
DISThe Walt Disney Company	2.95%	4,060,327	$504M	trimmed−13%	−0.95 pp	8 q
LYVLive Nation Entertainment Inc.	2.91%	9,209,064	$496M	added+63%	+1.04 pp	3 q
GOOGLAlphabet Inc. Class A	2.85%	332,200	$487M	added×3.1	+1.71 pp	4 q
AVBAvalonBay Communities, Inc.	2.34%	2,677,200	$400M	trimmed−24%	−1.71 pp	2 q
LVSLas Vegas Sands Corp.	2.25%	8,234,579	$384M	trimmed−48%	−3.13 pp	8 q
IRIngersoll Rand Inc.	2.15%	10,326,992	$368M	new	+2.15 pp	new
TGTTarget Corporation	2.13%	2,307,477	$363M	added+6%	+0.18 pp	2 q
PNCPNC Financial Services Group	2.07%	3,211,751	$353M	added×3.3	+1.32 pp	2 q
BEKEKE Holdings Inc.	1.79%	5,000,000	$307M	new	+1.79 pp	new
DHRDanaher Corporation	1.73%	1,371,781	$295M	trimmed−57%	−2.49 pp	3 q
CLVTClarivate Plc	1.73%	9,519,618	$295M	added+4%	+0.21 pp	6 q
FISFidelity National Information Services, Inc.	1.66%	1,925,241	$283M	trimmed−48%	−2.04 pp	6 q
BALLBall Corporation	1.54%	3,163,380	$263M	new	+1.54 pp	new
DTDynatrace, Inc.	1.41%	5,878,352	$241M	new	+1.41 pp	new
SNOWSnowflake Inc.	1.37%	931,012	$234M	new	+1.37 pp	new
OMOutset Medical, Inc.	1.34%	4,575,754	$229M	new	+1.34 pp	new
RHRh	1.22%	544,963	$209M	added×2.7	+0.85 pp	2 q
unresolvedHudson Pac Pptys Inc	1.16%	9,038,318	$198M	trimmed−24%	−1.06 pp	3 q
DEIDouglas Emmett, Inc.	1.08%	7,346,332	$184M	added+45%	−0.08 pp	2 q
MSGSMadison Square Garden Sports Corp.	1.08%	1,229,554	$185M	added×2.5	+0.54 pp	2 q
AAPAdvance Auto Parts Inc	1.06%	1,176,464	$181M	added+26%	+0.07 pp	2 q
MUMicron Technology, Inc.	1.04%	3,774,008	$177M	added+10%	−0.28 pp	3 q
SMARSmartsheet Inc.	1.00%	3,443,338	$170M	added+49%	+0.13 pp	2 q
RACEFerrari N.V.	0.97%	901,771	$166M	trimmed−22%	−0.50 pp	8 q
KRCKilroy Realty Corp.	0.84%	2,763,000	$144M	trimmed−33%	−0.96 pp	3 q
NYTNew York Times Co.	0.80%	3,185,000	$136M	added×5.0	+0.60 pp	2 q
BABAAlibaba Group Holding Limited	0.77%	449,000	$132M	trimmed−86%	−4.41 pp	6 q
unresolvedPpd Inc	0.74%	3,428,575	$127M	added+19%	+0.17 pp	3 q
ESSEssex Property Trust, Inc	0.73%	617,562	$124M	added+10%	−0.23 pp	2 q
PLANAnaplan, Inc.	0.50%	1,371,303	$86M	trimmed−71%	−1.10 pp	5 q
NFLXNetFlix Inc	0.36%	122,925	$61M	trimmed−89%	−3.29 pp	8 q
DGNR.UDragoneer Growth Opportuniti	0.29%	4,000,000	$49M	new	+0.29 pp	new
GDRXGoodRx Holdings, Inc. Class A	0.23%	700,000	$39M	new	+0.23 pp	new
unresolvedRibbit Leap Ltd	0.23%	3,000,000	$39M	new	+0.23 pp	new
unresolvedRedball Acquisition Corp	0.22%	3,500,000	$37M	new	+0.22 pp	new
ADIAnalog Devices, Inc.	0.20%	287,806	$34M	new	+0.20 pp	new
RPLA.UReplay Acquisition Corp	0.15%	2,500,000	$26M	held	—	6 q
unresolvedChindata Group Hldgs Ltd	0.14%	1,450,000	$24M	new	+0.14 pp	new
D0ADada Nexus Ltd-adr	0.12%	750,000	$20M	held	—	2 q
AMZNAmazon.Com Inc	—	−149,400	—	exited	−3.07 pp	—
AZOAutoZone, Inc.	—	−99,500	—	exited	−0.84 pp	—
FLTCorpay, Inc.	—	−308,400	—	exited	−0.58 pp	—
BFAMBright Horizons Family Solutions Inc.	—	−583,100	—	exited	−0.51 pp	—
ESTCElastic N.V.	—	−698,000	—	exited	−0.48 pp	—
TSMTaiwan Semiconductor Manufacturing Company Ltd.	—	−625,000	—	exited	−0.26 pp	—
SBUXStarbucks Corp	—	−415,000	—	exited	−0.23 pp	—
APIAgora, Inc.	—	−500,000	—	exited	−0.16 pp	—
ALLOAllogene Therapeutics, Inc.	—	−500,000	—	exited	−0.16 pp	—
HSTHost Hotels & Resorts, Inc.	—	−935,000	—	exited	−0.08 pp	—
PKPark Hotels & Resorts Inc.	—	−809,144	—	exited	−0.06 pp	—