Cobalt Capital Management, INC. Quarterly 13F Holdings Update

Cobalt Capital Management, INC.'s disclosed holdings carry a Herfindahl concentration index of 0.090 — mathematically equivalent to about 11 equally-sized positions, well below its 24 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.10), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Sector classification currently covers about 69% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.