COURAGE CAPITAL MANAGEMENT LLC

NASHVILLE, TN · CIK 1119376 · 13F filing filed 2025-05-14

SEC-registered investment adviser since 2004 · limited liability company

$49.0m reported value +1.1% vs Q4 2024

12positions

98.2%in top 10

0 new 2 added 1 reduced 0 sold out vs Q4 2024

Holdings, Q1 2025

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	$13.4m27.39%	27.39%	Unchanged
2	CORECIVIC INC COM CXW	CXW	428,491	$8.7m17.75%	17.75%	Unchanged
3	SPROTT PHYSICAL GOLD TR UNIT PHYS	PHYS	264,500	$6.4m12.99%	12.99%	Unchanged
4	FIDELITY WISE ORIGIN BITCOIN SHS FBTC	FBTC	81,321	$5.9m11.95%	11.95%	Added +11.4k	+11,450 16.4%
5	GOLDMAN SACHS PHYSICAL GOLD UNIT AAAU	AAAU	184,254	$5.7m11.62%	11.62%	Unchanged
6	META PLATFORMS INC CL A META	META	4,450	$2.6m5.24%	5.24%	Reduced -3.0k	-3,050 -40.7%
7	ISHARES GOLD TR ISHARES NEW IAU	IAU	28,000	$1.7m3.37%	3.37%	Unchanged
8	ALPHABET INC CAP STK CL C GOOG	GOOG	10,500	$1.6m3.35%	3.35%	Added +5.0k	+5,000 90.9%
9	CROWN CASTLE INC COM CCI	CCI	12,000	$1.3m2.55%	2.55%	Unchanged
10	STARBUCKS CORP COM SBUX	SBUX	9,800	$961.0k1.96%	1.96%	Unchanged
11	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,000	$559.0k1.14%	1.14%	Unchanged
12	JOHNSON & JOHNSON COM JNJ	JNJ	2,000	$332.0k0.68%	0.68%	Unchanged