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Courage Capital Management LLC
Courage Capital Management LLC is an investment adviser and asset management firm headquartered in Nashville, Tennessee. Founded in 1998, the firm primarily serves institutional investors and high-net-worth individuals, managing portfolios across public equities and alternative investments. The company is registered as an investment adviser with the SEC and is known for its active management style. Courage Capital Management has approximately 19 employees, with a significant proportion of investment professionals.
Investment Strategy
Courage Capital Management LLC employs an active management approach with a primary focus on public equity investments and alternative assets, including ETFs and precious metals. The firm diversifies client portfolios across sectors and asset classes aiming for risk-adjusted returns and capital preservation. Its strategy often includes thematic and opportunistic allocations and can include both long and short positions based on fundamental analysis and macroeconomic outlooks. Recent filings show allocations to equity ETFs, gold trusts, and select large-cap stocks, reflecting a balanced yet opportunistic investment framework.
Latest 13F Filing Activity
Courage Capital Management LLC filed their most recent 13F report on Jun 30, 2025 disclosing 13 equity positions with a total 13F market value of $68M. The fund increased holdings in Fidelity Wise Bitcoin Fund, SPDR S&P 500 Etf, Meta Platforms Inc. among other positions. Courage Capital Management LLC reduced exposure to Crown Castle Intl, Starbucks Corp., Johnson & Johnson Inc. among others.
Top Holdings
Equity Positions (13)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
F FBTC | Fidelity Wise Bitcoin Fund | 21.57% | $14.6M | 155,615 | $79.79 | $93.99 | +$8.8M |
B BKLN | Invesco Senior Loan ETF | 19.99% | $13.6M | 648,000 | $21.06 | $20.92 | +$142.0K |
C CXW | Core Civic Inc | 14.73% | $10.0M | 473,961 | $16.31 | $21.07 | +$1.3M |
P PHYS | Sprott Physical Gold Trust | 9.89% | $6.7M | 264,500 | $14.76 | $25.35 | +$341.0K |
A AAAU | Goldman Sachs Physical Gold | 8.88% | $6.0M | 184,254 | $17.99 | $32.68 | +$331.0K |
Industry Allocation
Investment Team (2)
| Name | Role | Location | |
|---|---|---|---|
R Richard Patton | CEO and Chief Investment Officer | Nashville, TN , United States | |
 | Associate | Nashville, TN , United States |
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