What if you had copied D1 Capital Partners?
Dan Sundheim
The verdict
Copying D1 Capital Partners's 13F filings from Feb 2020 would have turned $10,000 into $18,444, less than the S&P 500 did.
The S&P 500 turned the same $10,000 into $24,639 over the same days. The copy returned +9.5% a year against +14.4% for the S&P 500, 4.8 points a year behind. Its worst fall was 57.7%, from Nov 16, 2021 to Dec 28, 2022. The S&P 500's worst fall over the test was 33.7%.
Copied Feb 18, 2020 to Nov 9, 2026 · SEC 13F filings and daily closes
What $10,000 became
- Copying D1 Capital Partners$18,444
- S&P 500$24,639
- Bought their first portfolio and never traded$18,926
If you had bought their first portfolio and never traded, you would have ended at $18,926, so following every move cost $482.
- $10,000 copied
- $18,444
- +84.4%, +9.5% a year
- In the S&P 500
- $24,639
- +146.4%, +14.4% a year
- No trading
- $18,926
- Bought their first portfolio and never traded
- Worst fall
- −57.7%
- Nov 16, 2021 to Dec 28, 2022
- Trades
- 556
- 303 buys, 253 sales over 27 filings; about 135% of the copy traded a year
The moves that made the most
- CARTMaplebear+$1,300
Held since Nov 2023, the stock up 126%
- METAMeta Platforms+$909
Held since Feb 2020, the stock up 204%
- MSFTMicrosoft+$866
Held from May 2020 to Feb 2025, the stock up 131%
Held from Nov 2023 to Feb 2026, the stock up 120%
- AMZNAmazon.com+$686
Held since Feb 2020, the stock up 157%
- JDJd.com+$645
Held from Feb 2020 to May 2023
The moves that cost the most
- RIVNRivian Automotive−$1,053
Held from Feb 2022 to Nov 2024, the stock down 85%
- CVNACarvana−$546
Held since Aug 2020, the stock down 71%
Held from Nov 2021 to Nov 2023, the stock down 75%
Held from May 2021 to Feb 2022, the stock down 65%
- SPCXSpaceX−$399
Held since Aug 2026, the stock down 3%
- WRBYWarby Parker−$382
Held from Nov 2021 to Aug 2025, the stock down 53%
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +43.0% | +13.1% | +29.9 |
| 2021 | +9.2% | +28.7% | −19.5 |
| 2022 | −50.3% | −18.2% | −32.1 |
| 2023 | +30.2% | +26.2% | +4.0 |
| 2024 | +36.1% | +24.9% | +11.2 |
| 2025 | +20.7% | +17.7% | +3.0 |
| 2026to Nov 2026 | +11.1% | +11.5% | −0.4 |
A historical test on paper, before costs and taxes. It trades at the close of the first trading day after each filing comes out, up to 45 days after the quarter, and skips delisted companies, which flatters it.