COURAGE CAPITAL MANAGEMENT LLC

NASHVILLE, TN · CIK 1119376 · 13F filing filed 2025-02-14

SEC-registered investment adviser since 2004 · limited liability company

$48.5m reported value +20.1% vs Q3 2024

12positions

98.2%in top 10

2 new 2 added 0 reduced 1 sold out vs Q3 2024

Holdings, Q4 2024

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	$13.7m28.18%	28.18%	Unchanged
2	CORECIVIC INC COM CXW	CXW	428,491	$9.3m19.22%	19.22%	Added +35.0k	+35,000 8.9%
3	FIDELITY WISE ORIGIN BITCOIN SHS FBTC	FBTC	69,871	$5.7m11.76%	11.76%	Added +18.2k	+18,200 35.2%
4	SPROTT PHYSICAL GOLD TR UNIT PHYS	PHYS	264,500	$5.3m10.99%	10.99%	Unchanged
5	GOLDMAN SACHS PHYSICAL GOLD UNIT AAAU	AAAU	184,254	$4.8m9.86%	9.86%	Unchanged
6	META PLATFORMS INC CL A META	META	7,500	$4.4m9.06%	9.06%	Unchanged
7	ISHARES GOLD TR ISHARES NEW IAU	IAU	28,000	$1.4m2.86%	2.86%	Unchanged
8	CROWN CASTLE INC COM CCI	CCI	12,000	$1.1m2.25%	2.25%	Unchanged
9	ALPHABET INC CAP STK CL C GOOG	GOOG	5,500	$1.0m2.16%	2.16%	Unchanged
10	STARBUCKS CORP COM SBUX	SBUX	9,800	$894.0k1.84%	1.84%	New
11	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,000	$586.0k1.21%	1.21%	New
12	JOHNSON & JOHNSON COM JNJ	JNJ	2,000	$289.0k0.60%	0.60%	Unchanged

Security	Ticker	Shares held before	Value then
GENERAL DYNAMICS CORP GD	GD	1,200	$363.0k1.2k shares