Courage Capital Management, LLC is an SEC-registered investment adviser based in Nashville, TN that reports managing 1 hedge fund on Form ADV. It reports $1.4 billion in regulatory assets under management. Its private funds, of all types, hold $1.4 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated -0.2% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated +33.9% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $1.4 billionForm ADV Item 5.F
- Gross assets of private funds
- $1.4 billionAll private fund types, Form ADV
- Hedge funds managed
- 17 private funds in total
- Employees
- 23Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 130449
- Latest Form ADV
- 03/30/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +5.1% | +14.8% |
| Q1 2026 | -5.0% | -4.6% |
| Q4 2025 | -2.9% | +2.4% |
| Q3 2025 | +6.6% | +7.8% |
| Q2 2025 | +8.0% | +10.4% |
| Q1 2025 | +1.4% | -4.5% |
| Q4 2024 | +11.6% | +2.1% |
| Q3 2024 | +6.0% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- Invesco Exchange Traded FD TR$13.2 million
- Corecivic Inc$9.4 million
- Sprott Physical Gold Etv$8.0 million
- Goldman Sachs Physical Gold Et$7.3 million
- Fidelity Wise Origin Bitcoin Fund$5.9 million
- SPDR S&P 500 ETF TR$5.4 million
- Meta Platforms, Inc.$3.9 million
- Alphabet, Inc Non-voting Class$3.7 million
- Tesla Mtrs Inc Com$2.3 million
- Pinnacle Financial Partners, I$2.2 million
As of 2026-06-30, from 13F filing by Courage Capital Management LLC.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. HedgeMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures