Anthony Scaramucci's Skybridge Outperformed Almost Every Fund On Wall Street

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To investors,

Anthony Scaramucci’s Skybridge Capital saw its flagship fund outperform almost every hedge fund on Wall Street last year, including Tiger Global, Citadel, Coatue, and Pershing Square.

This is nearly unheard of from a fund-of-funds manager. So how did he do it?

Scaramucci was able to outperform most funds by embracing bitcoin and cryptocurrencies. By adding these new assets into the portfolio, Skybridge produced a 43% return in 2024. This is worth paying attention to because as more hedge fund managers and capital allocators see the results from fund managers embracing crypto, the more these fund managers will be incentivized to allocate to the asset class.

That is good for anyone holding bitcoin and crypto assets.

To learn more about Scaramucci’s big bet, you can read a brand new profile that published this morning. It is written by my wife, Polina, who is one of the best business profile writers in the country (she will kill me for saying that, but it is true so oh well!).

This profile highlights the ups-and-downs of Scaramucci’s career, including selling his first asset management firm, getting fired from Goldman Sachs, building a multi-billion dollar asset manager, getting fired from the White House, the collateral damage from the FTX blowup, and the impossible redemption arc that Anthony has carved to produce the best financial returns of his career.

I love stories of resilience. They inspire people to get back up after being knocked down and that seems to be the story of Scaramucci’s life.

Here is an excerpt on the financial returns:

Undeterred by public criticism, Scaramucci doubled down on Bitcoin. By the end of 2024, more than 57% of SkyBridge’s $2.7 billion in hedge fund assets were in cryptocurrencies, a stake worth approximately $1.4 billion. Scaramucci says that Bitcoin comprises half of the firm’s 'nine-figure' balance sheet. He himself has over 60% of his personal net worth in Bitcoin. “We fundamentally believe this is a technological shift in finance,” he says. “This asset should be worth $20 trillion.”

For now, Scaramucci’s bet appears to be paying off. In December 2024, Bitcoin surged to an all-time high of $100,000 per coin, driving a banner year for SkyBridge. The firm’s $1.7 billion flagship fund posted a 43% return — its strongest performance since the firm’s inception. It significantly outpaced the HFRI Fund of Funds Composite Index, a key benchmark for the hedge fund industry, which returned 9.8% over the same period.

SkyBridge’s performance in 2024 ranked among the top 10 best-performing funds of the year, surpassing even some of Wall Street’s most iconic hedge funds, including Tiger Global, Citadel, Coatue, and Pershing Square. “People count him out over and over,” says Barbara Ferdida, chief operating officer of SALT Media. “But Anthony loves the comeback more than he loves the climb.”

If you want to read the entire profile of Anthony Scaramucci, you can click here:

Read The Scaramucci Profile Here

Hope you enjoy the read. Have a great day and I will talk to everyone tomorrow.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

Darius Dale Explains US Tariff Impact On Global Liquidity

Darius Dale is the Founder & CEO of 42Macro.

In this conversation we talk about tariffs, impact on global liquidity, how asset markets and stock prices are reacting, DOGE cutting government spending, and the impact of artificial intelligence.

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