CIM Capital IC Management

Michael J. Burry is the sole portfolio manager and makes every investment decision personally. The firm does not employ a committee structure for stock selection, and Burry's personal research and analysis drive all portfolio activity. This concentrated authority is a defining feature of the firm's operating model.

The portfolio typically holds between five and fifteen positions, with a demonstrated willingness to hold cash representing a large percentage of assets when Burry does not see attractive opportunities. 13F filings periodically show portfolio turnover that suggests tactical shifts between fully invested and heavily hedged or cash-heavy postures. The firm does not maintain sector neutrality for its own sake.

Burry has taken ownership stakes exceeding 5% in multiple portfolio companies, which requires a 13D filing and signals an intention to engage with management or influence corporate strategy. While not an activist in the traditional proxy-fight sense, he has publicly called for management changes and share buybacks when he believes a board is undervaluing the business.

The firm operates as a registered investment adviser but maintains an extremely limited and private investor base. It does not actively raise capital, does not market to institutional allocators, and has historically functioned with a degree of investor privacy comparable to a family office. The capital structure was originally built around Burry's own wealth and a small circle of backers from his prior fund.

Because the firm is a registered investment adviser managing over $100 million in US equities, quarterly 13F filings disclose its long positions on a 45-day delay. This visibility makes the firm one of the most copied filers in the market. Burry has publicly expressed frustration that the filing requirement reveals his work and has at times used the filing window strategically, including making a large purchase at quarter-end and selling it before the filing becomes public.