Dan Sundheim’s $20 Billion D1 Capital Loses About 20% This Month
- Loss is among largest to emerge as traders hit hedge fund bets
- Once a top gainer, D1 climbed 60% amid market tumult last year
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Dan Sundheim’s D1 Capital Partners, one of last year’s top-performing hedge funds, lost about 20% this month through Wednesday, making it one of the biggest victims yet to emerge as retail investors target hedge funds’ favorite positions.
The fund managed about $20 billion as this year began -- far more than rivals such as Melvin Capital and Maplelane Capital that have also taken hits to their portfolios amid the attacks. D1’s loss, described by people briefed on the situation, contrasts with a 60% gain during last year’s pandemic turmoil.