COURAGE CAPITAL MANAGEMENT LLC

NASHVILLE, TN · CIK 1119376 · 13F filing filed 2023-08-14

SEC-registered investment adviser since 2004 · limited liability company

$36.4m reported value -12.7% vs Q1 2023

17positions

89.3%in top 10

2 new 2 added 3 reduced 2 sold out vs Q1 2023

Holdings, Q2 2023

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	COHERUS BIOSCIENCES INC NOTE 1.500% 4/1 · principal CHRS 1.5 04.15.26 · principal	CHRS 1.5 04.15.26	18,000,000	$11.2m30.76%	30.76%	Unchanged
2	SPROTT PHYSICAL GOLD TR UNIT PHYS	PHYS	264,500	$3.9m10.83%	10.83%	Added +63.5k	+63,500 31.6%
3	EVOLENT HEALTH INC NOTE 1.500%10/1 · principal EVH 1.5 10.15.25 · principal	EVH 1.5 10.15.25	3,434,000	$3.9m10.80%	10.80%	Reduced -4.0m	-4,000,000 -53.8%
4	GOLDMAN SACHS PHYSICAL GOLD UNIT AAAU	AAAU	184,254	$3.5m9.63%	9.63%	Unchanged
5	META PLATFORMS INC CL A META	META	9,000	$2.6m7.09%	7.09%	Added +1.5k	+1,500 20.0%
6	CHORD ENERGY CORPORATION COM NEW CHRD	CHRD	11,000	$1.7m4.64%	4.64%	Unchanged
7	HUMANA INC COM HUM	HUM	3,400	$1.5m4.17%	4.17%	New
8	CONSOL ENERGY INC NEW COM COM		22,315	$1.5m4.15%	4.15%	Reduced -3.6k	-3,551 -13.7%
9	CROWN CASTLE INC COM CCI	CCI	12,000	$1.4m3.75%	3.75%	Unchanged
10	PDC ENERGY INC COM PDCE	PDCE	18,000	$1.3m3.52%	3.52%	Unchanged
11	BERRY CORP COM COM		185,600	$1.3m3.51%	3.51%	Reduced -50.0k	-50,000 -21.2%
12	ISHARES GOLD TR ISHARES NEW IAU	IAU	28,000	$1.0m2.80%	2.80%	Unchanged
13	ALPHABET INC CAP STK CL C GOOG	GOOG	5,500	$665.0k1.83%	1.83%	Unchanged
14	JOHNSON & JOHNSON COM JNJ	JNJ	2,000	$331.0k0.91%	0.91%	Unchanged
15	GENERAL DYNAMICS CORP COM GD	GD	1,200	$258.0k0.71%	0.71%	Unchanged
16	COHERUS BIOSCIENCES INC COM CHRS	CHRS	50,000	$214.0k0.59%	0.59%	New
17	MATINAS BIOPHARMA HLDGS INC COM COM		331,846	$119.0k0.33%	0.33%	Unchanged

Security	Ticker	Shares held before	Value then
VANECK ETF TRUST GDXJ	GDXJ	29,760	$1.2m29.8k shares
INTERCONTINENTAL EXCHANGE IN ICE	ICE	6,600	$688.0k6.6k shares