D1 Capital Partners L.P. 13F: New $76M Stake in TopBuild (BLD)

D1 Capital Partners Enters TopBuild

D1 Capital Partners L.P. recently initiated a brand-new stake in TopBuild Corp. (NYSE: BLD), according to the firm's latest 13F filing with the Securities and Exchange Commission for the period ended March 31, 2026. The investment firm purchased 213,433 shares of the insulation installer and distributor, a position valued at approximately $75.67 million. Because this is a backward-looking filing, it reflects D1 Capital's holdings as of the end of the reporting period and may not represent the fund's current portfolio.

The investment from D1 Capital, a hedge fund founded by Dan Sundheim, fits right into the firm's historical playbook. D1 Capital is known for making large, concentrated bets across both public and private markets, frequently targeting companies in the industrial, consumer, and technology sectors that have strong market share but may be experiencing temporary valuation dips.

Growth and Trims Across the Portfolio

This new position in TopBuild Corp. is part of a broader rebalancing by D1 Capital. On May 15, 2026, the fund also disclosed a massive new $338.7 million stake in Somnigroup International and boosted its position in Kilroy Realty by 8.4%. To fund these purchases, D1 Capital pared back some of its other holdings, trimming its stake in Spotify Technology S.A. by 14% and cutting XPO, Inc. by 36.7%. The move into TopBuild also follows buying from other institutional players; BNP Paribas Asset Management boosted its own TopBuild stake by 51.7% just a day prior on May 14, 2026.

TopBuild Stock Trends Near Yearly Lows

TopBuild shares closed at $354.53 on Saturday, trading much closer to their 52-week low of $330.51 than their 52-week high of $559.47. The stock has been facing downward momentum lately, trading below both its 50-day moving average of $412.97 and its 200-day moving average of $428.77. With a price-to-earnings ratio of 19.9 and a forward P/E of 17.0, D1 Capital appears to be capitalizing on a cheaper entry point for the construction services company.

Strong Fundamentals in Building Materials

TopBuild Corp. continues to show steady fundamental performance. The company posted annual revenue of $5.62 billion, representing a growth rate of 17.2%. TopBuild also maintains a healthy net margin of 8.9% and an impressive return on equity of 22.3%. Headquartered in Daytona Beach, Florida, TopBuild is a major player in the construction supply chain, providing insulation installation and distributing specialty building products across the United States and Canada.

What to Watch at TopBuild Corp.

Investors will want to watch whether D1 Capital continues to build this position in future quarterly filings or if they maintain a short-term trading horizon on the stock. While quarterly 13F filings provide a valuable window into what major institutional investors are buying, they are delayed by up to 45 days after the quarter ends and do not paint a complete picture of real-time trading activity.