(Bloomberg) -- 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. 

A spokesman for the New York-based firm declined to comment. 

Dan Sundheim’s firm is the latest hybrid hedge fund to post disappointing returns this year amid turbulent markets. The S&P 500 Index has sunk about 13% in the first five months of 2022.  

For the year, D1’s public market portfolio fell 44%, while its book of closely-held companies dropped 8%, the people said.

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