COURAGE CAPITAL MANAGEMENT LLC
Hedge Fund • Multi-Strategy
COURAGE CAPITAL MANAGEMENT LLC is a Multi-Strategy Hedge Fund based in Nashville, TN led by Thomas Gordon Milne, reporting $1.4B in AUM as of Q3 2025 with 63% ETF concentration, 98% concentrated in top 10 holdings, and 25% allocation to FBTC.
PresidentThomas Gordon Milne
- Portfolio Value
- $65.8M
- Positions
- 12
- Top Holding
- FBTC at 25.15%
- Last Reported
- Q3 2025
Top Holdings
Largest long holdings in COURAGE CAPITAL MANAGEMENT LLC's portfolio (98.2% of total portfolio)
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| Holding | Sector | Position | Weight | Traded | Ownership |
|---|---|---|---|---|---|
ETF ETF | $16.6M | 25.15% | +$1.0M Bought | — 165.9K shares | |
ETF ETF | $13.6M | 20.61% | — | — 648.0K shares | |
REIT - Specialty Real Estate | $9.6M | 14.66% | — | 0.44% 474.0K shares | |
ETF ETF | $7.0M | 10.67% | — | — 184.3K shares | |
Internet Content & Information Communication Services | $5.8M | 8.87% | — | 0.00% 8.0K shares | |
ETF ETF | $4.5M | 6.90% | — | — 6.8K shares | |
Internet Content & Information Communication Services | $2.6M | 3.89% | — | 0.00% 10.5K shares | |
Banks - Regional Financial Services | $2.0M | 3.07% | +$2.0M Bought | 0.03% 21.6K shares | |
Medical - Healthcare Plans Healthcare | $1.5M | 2.26% | +$345.3K Bought | 0.00% 4.3K shares | |
Auto - Manufacturers Consumer Cyclical | $1.4M | 2.09% | — | 0.00% 3.1K shares |
Changes
Portfolio activity, position movements, and quarter-over-quarter changes in COURAGE CAPITAL MANAGEMENT LLC's latest filing
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Market Value
Q/Q Change
Net Flows % of MV
Turnover Ratio
New Purchases
Added To
Sold Out Of
Reduced Holdings
Increased Positions
| Position | Shares Δ |
|---|---|
+30.3% | |
+6.59% |
Decreased Positions
| Position | Shares Δ |
|---|---|
| No decreased positions | |
Analytics
Portfolio insights and performance metrics for COURAGE CAPITAL MANAGEMENT LLC
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