Hedge fund veteran Dan Sundheim found a few buying opportunities during the second quarter, including adding new positions in a pair of automakers. D1 Capital Partners bought $120 million worth of Tesla shares as well as $21 million worth of Ferrari last quarter, according to a new regulatory filing. The hedge fund also kept its big Rivian Automotive stake unchanged last quarter, worth more than $400 million at the end of June. The EV startup has had a rough 2022, with shares down more than 60%, as investors dumped unproven growth names in the face of rising interest rates. Tesla and Ferrari have fared better this year, down 12% and 17% respectively. D1 also trimmed some of its tech holdings in the second quarter amid the big sell-off. The hedge fund slashed its Microsoft holding by a quarter to a stake valued around $660 million at the end of June. Microsoft was still D1's biggest holding. Sundheim also cut his stakes in Datadog , Procore Technologies and Alkami Technology last quarter. D1 managed about $40 billion at the end of the first quarter of 2022. Before starting D1 in 2018, Sundheim worked at Viking Global Investors for 15 years, serving as the chief investment officer the last seven years.