Dan Sundheim's D1 Capital Partners raised its stake by more than 400% in a live entertainment stock during the first quarter, while reallocating funds across major technology winners. The firm hiked its position in Live Nation Entertainment by 440%, or more than $188 million, bringing the value of the total stake to about $259 million. Keeping with the entertainment theme, Sundheim also opened a fresh $151 million position in music streamer Spotify Technology .
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.
Source: Entertainment Trends (entertainmenttrends.net)
Live Nation Entertainment Inc Spotify Technology SA Meta Platforms Inc Alphabet Inc Amazon.Com Inc Microsoft 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
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