SkyBridge's Opportunity Fund posts back-to-back quarterly losses amid heavy crypto exposure

SkyBridge Capital, led by Anthony Scaramucci, has recorded two straight quarterly declines in its flagship SkyBridge Opportunity Fund, Bloomberg reported. The fund manages about $1.3 billion and has roughly 64% of its portfolio in cryptocurrencies and other digital assets. The fund fell 12.9% in the first quarter of 2026 following an 18% drop in the fourth quarter of 2025. Its three largest positions are the Brevan Howard Digital Asset MultiStrategy Fund (17.5%), the Galaxy Institutional Bitcoin Fund (9.58%), and Canada's Purpose Bitcoin ETF (8.79%). In its latest tender offer, investors sought to redeem 792,600 shares, while the fund repurchased 64,400 shares, or 8.1% of the requested total.