COURAGE CAPITAL MANAGEMENT LLC

NASHVILLE, TN · CIK 1119376 · 13F filing filed 2026-08-11

SEC-registered investment adviser since 2004 · limited liability company

Assets managed$1.4bn
Staff23 · 14 in investment roles
Main clients (by assets)Private funds 99%, Charities 1%
Private funds7 (1 hedge) · $1.4bn gross assets
Websitecouragecap.com
Form ADV · 2026-03-30SEC adviser record

Legal entityCourage Capital Management, LLC (US)

Kindhedge funds, private equity, futures
Others nearbyNashville, TN, Baltimore, MD

As an employer

Offices in1 country
Private fundsprivate equity 6, hedge 1

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Nashville, TN (main office)United States	United States	about 12
Baltimore, MDUnited States	United States	2

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$67.3m reported value -4.7% vs Q1 2026

16positions

90.9%in top 10

2 new 0 added 2 reduced 0 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	INVESCO EXCH TRADED FD TR II SR LN ETF BKLN	BKLN	648,000	$13.2m19.61%	19.61%	Unchanged
2	CORECIVIC INC COM CXW	CXW	308,961	$9.4m13.94%	13.94%	Reduced -165.0k	-165,000 -34.8%
3	SPROTT PHYSICAL GOLD TR UNIT PHYS	PHYS	264,500	$8.0m11.86%	11.86%	Unchanged
4	GOLDMAN SACHS PHYSICAL GOLD UNIT AAAU	AAAU	184,254	$7.3m10.83%	10.83%	Unchanged
5	FIDELITY WISE ORIGIN BITCOIN SHS FBTC	FBTC	115,865	$5.9m8.79%	8.79%	Reduced -55.0k	-55,000 -32.2%
6	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	7,171	$5.4m7.96%	7.96%	Unchanged
7	META PLATFORMS INC CL A META	META	6,950	$3.9m5.82%	5.82%	Unchanged
8	ALPHABET INC CAP STK CL C GOOG	GOOG	10,500	$3.7m5.51%	5.51%	Unchanged
9	TESLA INC COM TSLA	TSLA	5,380	$2.3m3.36%	3.36%	Unchanged
10	PINNACLE FINL PARTNERS INC COM COM		21,565	$2.2m3.23%	3.23%	Unchanged
11	ISHARES GOLD TR ISHARES NEW IAU	IAU	28,000	$2.1m3.14%	3.14%	Unchanged
12	UNITEDHEALTH GROUP INC COM UNH	UNH	4,300	$1.8m2.65%	2.65%	Unchanged
13	AMAZON COM INC COM AMZN	AMZN	4,000	$953.0k1.42%	1.42%	Unchanged
14	JOHNSON & JOHNSON COM JNJ	JNJ	2,000	$508.0k0.75%	0.75%	Unchanged
15	HCA HEALTHCARE INC COM HCA	HCA	1,200	$468.0k0.70%	0.70%	New
16	TYLER TECHNOLOGIES INC COM TYL	TYL	1,000	$292.0k0.43%	0.43%	New