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CCM

Courage Capital Management Portfolio holdings

AUM $70.6M
1-Year Est. Return 13.29%
This Fund
S&P 500
This Quarter Est. Return
+8.98%
1 Year Est. Return
+13.29%
3 Year Est. Return
+76.1%
5 Year Est. Return
+95.09%
10 Year Est. Return
+7,780.05%
AUM
$220M
AUM Growth
-$39.9M
Cap. Flow
-$59M
Cap. Flow %
-26.79%
Top 10 Hldgs %
71.21%
Holding
51
New
10
Increased
7
Reduced
15
Closed
10

Top Buys

Rank Stock Value
1
MAR icon
Marriott International
MAR
+$5.91M
2
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
+$3.16M
3
CPE
Callon Petroleum Company
CPE
+$2.89M
4
BSMX
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
+$2.81M
5
ASCMA
Ascent Capital Group, Inc. Series A
ASCMA
+$1.69M

Top Sells

Rank Stock Value
1
SNDK
SANDISK CORP
SNDK
+$3.29M
2
IL
IntraLinks Holdings Inc.
IL
+$3.28M
3
BBRG
Bravo Brio Restaurant Group Inc.
BBRG
+$3.1M
4
CVC
CABLEVISION SYS CP NY GRP CL-A
CVC
+$3.07M
5
DWA
DREAMWORKS ANIMATION SKG INC CL-A
DWA
+$2.37M

Sector Composition

Rank Sector Weight
1 Communication Services 16.26%
2 Consumer Discretionary 5.95%
3 Financials 5.87%
4 Technology 5.02%
5 Industrials 4.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLD icon
1
CALL
SPDR Gold Trust
GLD
$130B
$65.3M 29.67%
509,600
-100,000
-16% -$12.8M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$82.2B
$21.3M 9.68%
200,000
-150,000
-43% -$15.5M
ECHO
3
EchoStar
ECHO
$26.7B
$18.3M 8.31%
513,543
-52,404
-9% -$1.77M
ASCMA
4
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
$9.15M 4.16%
113,500
+21,500
+23% +$1.69M
MKL icon
5
Markel Group
MKL
$24.7B
$8.03M 3.64%
15,500
+285
+2% +$150K
DWA
6
DELISTED
DREAMWORKS ANIMATION SKG INC CL-A
DWA
$7.29M 3.31%
256,198
-86,883
-25% -$2.37M
AMED
7
PUT
DELISTED
Amedisys
AMED
$6.88M 3.13%
400,000
– –
CVC
8
CALL
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
$6.74M 3.06%
400,000
+100,000
+33% +$1.83M
MAR icon
9
Marriott International
MAR
$96.6B
$6M 2.72%
+142,566
New +$5.91M
LYV icon
10
Live Nation Entertainment
LYV
$41.9B
$5.34M 2.42%
287,721
-99,323
-26% -$1.69M
HLF icon
11
PUT
Herbalife
HLF
$1.24B
$4.88M 2.22%
+140,000
New +$4.33M
CRMT icon
12
America's Car Mart
CRMT
$31.4M
$4.72M 2.14%
104,540
– –
IL
13
DELISTED
IntraLinks Holdings Inc.
IL
$3.83M 1.74%
435,000
-375,000
-46% -$3.28M
ISRG icon
14
CALL
Intuitive Surgical
ISRG
$122B
$3.76M 1.71%
+90,000
New +$3.97M
ZNGA
15
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
$3.67M 1.67%
+1,000,000
New +$3.16M
CPE
16
DELISTED
Callon Petroleum Company
CPE
$3.63M 1.65%
+66,462
New +$2.89M
MS icon
17
PUT
Morgan Stanley
MS
$339B
$3.23M 1.47%
120,000
– –
GLD icon
18
SPDR Gold Trust
GLD
$130B
$3.09M 1.4%
24,100
-4,400
-15% -$565K
BSMX
19
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
$2.71M 1.23%
+196,099
New +$2.81M
CVC
20
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
$2.69M 1.22%
160,000
-167,267
-51% -$3.07M
NOV icon
21
NOV
NOV
$7.01B
$2.34M 1.06%
33,270
– –
PRLB icon
22
PUT
Protolabs
PRLB
$1.85B
$2.29M 1.04%
+30,000
New +$2.08M
AIG icon
23
American International
AIG
$42.7B
$2.19M 0.99%
45,000
+15,455
+52% +$735K
GOOG icon
24
Alphabet (Google) Class C
GOOG
$4.22T
$2.18M 0.99%
100,094
– –
QCOM icon
25
Qualcomm
QCOM
$181B
$2.15M 0.98%
32,000
– –
1
2

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Courage Capital Management's Q3 2013 Portfolio in Review

As of Q3 2013, Courage Capital Management held 51 positions worth $220M, down 15% from $260M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Courage Capital Management withdrew a net $59M in Q3 2013, closing 10 positions and reducing 15 holdings. Its most notable exit was SANDISK CORP, an estimated $3.29M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 16% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Courage Capital Management opened a new position in Marriott International worth $6M.

  • Courage Capital Management's largest Q3 2013 buy was Marriott International: 142,566 shares worth $6M.
  • Courage Capital Management added most to Ascent Capital Group, Inc. Series A in Q3 2013, an estimated $1.69M increase.
  • Courage Capital Management's biggest Q3 2013 reduction was IntraLinks Holdings Inc., cutting an estimated $3.28M.
  • Courage Capital Management fully exited SANDISK CORP in Q3 2013, selling an estimated $3.29M.
  • Courage Capital Management's ten largest holdings make up 71% of its $220M portfolio in Q3 2013.
  • Courage Capital Management opened 10 new positions and closed 10 in Q3 2013.
  • Courage Capital Management's portfolio value fell 15% quarter-over-quarter to $220M.

Based on Courage Capital Management's 13F filing for Q3 2013, filed 13 Nov 2013.