Courage Capital Management LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Courage Capital Management LLC reported 14 stock positions worth $70.6 million. Its top holding was Invesco Senior Loan ETF (BKLN) at 18.7% of the portfolio, followed by Fidelity Wise Origin Bitcoin (FBTC, 14.3%) and Sprott Physical Gold Trust (PHYS, 13.3%). Compared with Q4 2025, it opened 1 new position and added to 2. The biggest buy was a new position in Amazon.com (AMZN).

Most Recent 13F
Q2 2026
Location
NASHVILLE, TN
CIK
0001119376
Portfolio Value
$70.6M (Q1 2026)
SEC Filing
0001119376-26-000007 ↗ filed May 14, 2026

Holdings Value

0$20.0M$40.0M$60.0M$80.0M Q1 2024: $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 $70.6M Q1 2026 Q2 2026: $67.3M Q2 2026

Holdings 14 stocks · $70.6M
BKLN Invesco Senior Loan ETF 18.73% 648,000 $13.2M No change
FBTC Fidelity Wise Origin Bitcoin 14.28% 170,865 $10.1M No change
PHYS Sprott Physical Gold Trust 13.27% 264,500 $9.4M No change
CXW Corecivic Inc. 12.69% 473,961 $9.0M No change
AAAU Goldman Sachs Physical Gold 12.05% 184,254 $8.5M No change
SPY SS SPDR S&P 500 ETF Trust-US 6.60% 7,171 $4.7M Add +5.1%
META Meta Platforms Inc. Class A 5.63% 6,950 $4.0M No change
GOOG Alphabet Inc. Class C 4.26% 10,500 $3.0M No change
IAU iShares Gold Trust 3.49% 28,000 $2.5M No change
TSLA Tesla Inc. 2.83% 5,380 $2.0M Add +73.5%
PNFP Pinnacle Financial Partners 2.63% 21,565 $1.9M No change
UNH Unitedhealth Group Inc. 1.65% 4,300 $1.2M No change
AMZN Amazon.com Inc. 1.18% 4,000 $833K New
JNJ Johnson & Johnson 0.69% 2,000 $489K No change

Portfolio Sells Q4 2025 → Q1 2026
None this quarter.

Portfolio Buys Q4 2025 → Q1 2026
AMZN Amazon.com Inc. New 1.18% +1.18
TSLA Tesla Inc. Add +73.5% 2.83% +0.91
SPY SS SPDR S&P 500 ETF Trust-US Add +5.1% 6.60% +0.18

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