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Hedge Fund D1 Sinks Nearly 23% This Year on Public, Private Bets

D1 Capital Partners, the hedge fund firm that wagers on public and private companies, has tumbled 22.5% this year through May, according to people familiar with the matter. 

The fund fell 4% last month, with its portfolio of stocks sinking 13% while its book of private investments was about flat, the people said, declining to be identified because the information isn’t public. The returns are for the fund’s biggest share class which invests half of its assets in equities and the rest in startups.