Courage Capital Management LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Courage Capital Management LLC reported 11 stock positions worth $29.7 million. Its top holding was Corecivic (CXW) at 17.9% of the portfolio, followed by Invesco Senior Loan ETF (BKLN, 16.9%) and Sprott Physical Gold Trust (PHYS, 15.4%). Compared with Q4 2023, it opened 3 new positions, sold out of 1 and reduced 1. The biggest buy was a new position in Corecivic (CXW) and the biggest sale an exit from Humana (HUM).

Most Recent 13F
Q2 2026
Location
NASHVILLE, TN
CIK
0001119376
Portfolio Value
$29.7M (Q1 2024)
SEC Filing
0001567619-24-000303 ↗ filed May 10, 2024

Holdings Value

0$20.0M$40.0M$60.0M$80.0M Q1 2024: $29.7M $29.7M Q1 2024 Q2 2024: $34.1M Q2 2024 Q3 2024: $40.4M Q3 2024 Q4 2024: $48.5M Q4 2024 Q1 2025: $49.0M Q1 2025 Q2 2025: $67.8M Q2 2025 Q3 2025: $75.7M Q3 2025 Q4 2025: $72.4M Q4 2025 Q1 2026: $70.6M Q1 2026 Q2 2026: $67.3M Q2 2026

Holdings 11 stocks · $29.7M
CXW Corecivic Inc. 17.92% 341,000 $5.3M New
BKLN Invesco Senior Loan ETF 16.95% 238,000 $5.0M New
PHYS Sprott Physical Gold Trust 15.41% 264,500 $4.6M No change
AAAU Goldman Sachs Physical Gold 13.64% 184,254 $4.1M No change
META Meta Platforms Inc. Class A 13.08% 8,000 $3.9M Reduce -11.1%
FBTC Fidelity Wise Origin Bitcoin 9.75% 46,671 $2.9M New
CCI Crown Castle Inc. 4.28% 12,000 $1.3M No change
IAU iShares Gold Trust 3.96% 28,000 $1.2M No change
GOOG Alphabet Inc. Class C 2.82% 5,500 $837K No change
GD General Dynamics Corp. 1.14% 1,200 $339K No change
JNJ Johnson & Johnson 1.06% 2,000 $316K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $4.8M (not counted above)
SecurityClassShares / PrincipalValueChange
COHERUS ONCOLOGY INC (CHRS 1.5 04/15/26) NOTE 1.500% 4/1 · principal 7,500,000$4.8MNo change

Total filed on the 13F, all lines: $34.5M.

Portfolio Sells Q4 2023 → Q1 2024
HUM Humana Inc. Sold out 0.00% −9.38
META Meta Platforms Inc. Class A Reduce -11.1% 13.08% −6.12

Portfolio Buys Q4 2023 → Q1 2024
CXW Corecivic Inc. New 17.92% +17.92
BKLN Invesco Senior Loan ETF New 16.95% +16.95
FBTC Fidelity Wise Origin Bitcoin New 9.75% +9.75

Notes & Other Activity Q4 2023 → Q1 2024
EVOLENT HEALTH INC (EVH 1.5 10/15/25) NOTE 1.500%10/1 · principal Sold out 3,434,000 $3.9Mbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 16$67.3MBKLN, CXW, PHYS, AAAU, FBTC
Q1 2026 14$70.6MBKLN, FBTC, PHYS, CXW, AAAU
Q4 2025 13$72.4MBKLN, FBTC, CXW, PHYS, AAAU
Q3 2025 14$75.7MFBTC, BKLN, CXW, PHYS, AAAU
Q2 2025 13$67.8MFBTC, BKLN, CXW, PHYS, AAAU
Q1 2025 12$49.0MBKLN, CXW, PHYS, FBTC, AAAU
Q4 2024 12$48.5MBKLN, CXW, FBTC, PHYS, AAAU
Q3 2024 11$40.4MBKLN, PHYS, CXW, AAAU, META
Q2 2024 11$34.1MBKLN, CXW, PHYS, AAAU, META
Q1 2024 11$29.7MCXW, BKLN, PHYS, AAAU, META