D1 Capital's 10% June Gain Tops Tiger Cub Rebound

Dan Sundheim's D1 Capital posted a roughly 10% return on its public equity book in June, a person close to the manager told Business Insider.

The gain caps a strong month for stockpicker hedge funds. Many funds in the Tiger Cub cohort – firms founded by former Tiger Management analysts – have recovered from a rocky first quarter. Tiger Global and Coatue Management also logged positive June returns, people familiar with the numbers said.

D1's June performance reverses a difficult start to the year. Trade-policy uncertainty and a rotation out of high-growth technology names hit many active managers in the first quarter. Sundheim had leaned into sectors that sold off sharply earlier in 2026, the person said. That bet paid off as markets stabilized.

The Tiger Cub group has had an uneven few years. 2024 saw some firms cut risk after a volatile stretch. 2025 was kinder to stockpickers, with value and growth both finding room to run. This June extends that momentum.

Sundheim started D1 in 2018 after leaving Viking Global. His public-equity portfolio is concentrated, typically holding between 20 and 30 names across technology, consumer, and industrial companies. The firm also runs a private-investment arm.

D1 does not disclose net returns for the full fund. The strong June, however, puts the public book on track for a solid first half. Other Tiger Cubs are expected to report half-year numbers in July. The second half will test whether the rebound holds through earnings season and the presidential campaign.