AMERICAN RLTY CAP PPTYS INC

CUSIP: 02917TAB0 Class: NOTE

COURAGE CAPITAL MANAGEMENT LLC's Holding History (CIK: 0001119376)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015
Shares 14,000,000 Value ($000) $12,591 Avg Close — Range —
Q3 2015
Shares 14,000,000 Value ($000) $12,959 Avg Close — Range —
Q2 2015
Shares 14,000,000 Value ($000) $13,169 Avg Close — Range —
Q1 2015
Shares 13,000,000 Value ($000) $12,724 Avg Close — Range —
Q4 2014
Shares 8,000,000 Value ($000) $7,365 Avg Close — Range —