CC
Cobalt Capital Management, Inc. Holdings Report (Q2 2026) — 13F Stock Portfolio
Cobalt Capital Management, Inc.CIK: 0001086762
High-turnover traderContrarianQuality / disciplined sizing
Total reported value
$140.5M
Reporting period: 2026-06-30 · Number of holdings: 26
COBALT CAPITAL MANAGEMENT, INC. disclosed 26 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $140.5M and a quarterly turnover rate of 107.0%.
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Personality snowflake
- Concentration
- 34.36
- Portfolio Stability
- 100
- Momentum
- 0
- Sector conviction
- 58.86
- Diversification
- 52
- Sizing Uniformity
- 88.68
Cobalt Capital Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.086 — mathematically equivalent to about 12 equally-sized positions, well below its 26 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 1.13), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out AL
Sold out HON
New buy BX
Sold out LH
New buy CCK
Add EXE
+89.3% $5.6M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NSC | Norfolk Southern CORP | Stock-Industrials | 15.68% | -2.80% | -39.13% | |
| 2 | GLD | Spdr Gold Shares | ETF-Commodities | 13.11% | +1.06% | — | |
| 3 | EXE | Expand Energy CORP | Stock-Energy | 11.03% | +5.52% | +89.31% | |
| 4 | MU | Micron Technology Inc | Stock-Tech | 9.86% | +4.19% | -60.00% | |
| 5 | BX | Blackstone Inc | Stock-Financials | 8.38% | +8.38% | NEW | |
| 6 | CCK | Crown Holdings Inc | Stock-Consumer Disc | 5.97% | +5.97% | NEW | |
| 7 | FTAI | FTAI Aviation Ltd. | Stock-Industrials | 5.78% | +4.82% | +328.57% | |
| 8 | VST | Vistra CORP | Stock-Utilities | 5.08% | +5.08% | NEW | |
| 9 | ELV | Elevance Health Inc | Stock-Healthcare | 4.13% | +4.13% | NEW | |
| 10 | UAL | United Airlines Holdings Inc | Stock-Industrials | 3.87% | -0.51% | -52.94% | |
| 11 | OBDC | Blue Owl Capital CORP | Stock-Financials | 2.49% | +0.82% | +19.12% | |
| 12 | GPN | Global Payments Inc | Stock-Industrials | 2.07% | +2.07% | NEW | |
| 13 | APO | Apollo Global Management Inc | Stock-Financials | 1.68% | +1.68% | NEW | |
| 14 | TEVA | Teva Pharmaceutical-sp Adr | Stock-Healthcare | 1.45% | +1.03% | +140.00% | |
| 15 | SIMO | Silicon Motion Technol-adr | Stock-Other | 1.42% | +1.42% | NEW | |
| 16 | MGM | Mgm Resorts International | Stock-Consumer Disc | 1.36% | +1.36% | NEW | |
| 17 | CLMT | Calumet Inc | Stock-Other | 1.28% | +1.28% | NEW | |
| 18 | VSAT | Viasat Inc | Stock-Tech | 1.28% | +0.79% | +5.26% | |
| 19 | ✓ | Stock-Other | 0.99% | +0.99% | NEW | ||
| 20 | BKD | Brookdale Senior Living Inc | Stock-Other | 0.80% | -1.88% | -80.00% | |
| 21 | ✓ | Stock-Other | 0.79% | +0.79% | NEW | ||
| 22 | DMAC | Diamedica Therapeutics Inc | Stock-Other | 0.45% | +0.45% | NEW | |
| 23 | LION | Lionsgate Studios CORP | Stock-Other | 0.33% | +0.33% | NEW | |
| 24 | RKT | Rocket Cos Inc-class A | Stock-Financials | 0.28% | -1.24% | -86.84% | |
| 25 | AMC | Amc Entertainment Hlds-cl A | Stock-Other | 0.23% | +0.14% | — | |
| 26 | CZR | Caesars Entertainment Inc | Stock-Consumer Disc | 0.21% | -0.68% | -83.33% |
Portfolio Performance
Performance for Q3 2026
+2.1%
Performance Last 4 Quarters
+28.5%
Based on 89% of reported portfolio value with available pricing
- Stdev
- +17.9%
- Beta
- +1.04
- Alpha
- +13.4%
- Max Drawdown
- -14.4%
- Annualized Perf
- +38%
- Batting Avg vs S&P
- +66.7%
- Sortino
- +4.13
- Stutzer
- +0.55
- Treynor
- +0.33
- Sterling
- +2.14
- Calmar
- +2.65
- Information Ratio
- +1.2
- Tracking Error
- +11.8%
- Stdev Down
- +8.3%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +79.7%
- Worst 12 Months
- +25.6%
- Efficiency Ratio
- +0.92
- Sharpe
- +1.91
- Stdev Sectors
- +8.7%
- Skewness
- -0.28
- Kurtosis
- -0.5
- Upside Potential
- +5.62
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 26 | $140.5M | 100 | ||
| 2026 Q1 | 24 | $178.6M | 100 | ||
| 2025 Q4 | 28 | $225.9M | 91 | ||
| 2025 Q3 | 22 | $217.6M | 97 | ||
| 2025 Q2 | 26 | $213.1M | 0 | ||
| 2025 Q1 | 22 | $203.1M | 100 | ||
| 2024 Q4 | 27 | $240.7M | 0 | ||
| 2024 Q3 | 26 | $225.0M | 0 | ||
| 2024 Q2 | 22 | $230.7M | 0 | ||
| 2024 Q1 | 24 | $310.2M | 0 | ||
| 2023 Q4 | 26 | $287.2M | 0 | ||
| 2023 Q3 | 25 | $262.2M | 0 | ||
| 2023 Q2 | 29 | $259.9M | 0 | ||
| 2023 Q1 | 27 | $274.9M | 0 | ||
| 2022 Q4 | 22 | $239.8M | 0 | ||
| 2022 Q3 | 28 | $246.9M | 0 | ||
| 2022 Q2 | 33 | $300.0M | 0 | ||
| 2022 Q1 | 40 | $331.1M | 0 | ||
| 2021 Q4 | 41 | $375.0M | 0 | ||
| 2021 Q3 | 38 | $350.0M | 0 | ||
| 2021 Q2 | 31 | $285.2M | 99 | ||
| 2021 Q1 | 34 | $280.1M | 100 | ||
| 2020 Q4 | 30 | $292.5M | 100 | ||
| 2020 Q3 | 26 | $176.3M | 100 | ||
| 2020 Q2 | 24 | $174.8M | 100 | ||
| 2020 Q1 | 34 | $192.6M | 100 | ||
| 2019 Q4 | 26 | $279.6M | 64 | ||
| 2019 Q3 | 31 | $251.7M | 92 | ||
| 2019 Q2 | 38 | $284.2M | 82 | ||
| 2019 Q1 | 28 | $229.7M | 80 | ||
| 2018 Q4 | 37 | $346.8M | 92 | ||
| 2018 Q3 | 38 | $405.4M | 75 | ||
| 2018 Q2 | 43 | $448.5M | 76 | ||
| 2018 Q1 | 38 | $482.4M | 87 | ||
| 2017 Q4 | 50 | $648.8M | 89 | ||
| 2017 Q3 | 53 | $728.6M | 69 | ||
| 2017 Q2 | 44 | $619.1M | 52 | ||
| 2017 Q1 | 40 | $615.5M | 60 | ||
| 2016 Q4 | 48 | $650.0M | 71 | ||
| 2016 Q3 | 47 | $658.3M | 89 | ||
| 2016 Q2 | 50 | $752.1M | 66 | ||
| 2016 Q1 | 46 | $794.7M | 87 | ||
| 2015 Q4 | 53 | $779.6M | 83 | ||
| 2015 Q3 | 66 | $1.0B | 49 | ||
| 2015 Q2 | 71 | $1.1B | 56 | ||
| 2015 Q1 | 62 | $934.1M | 95 | ||
| 2014 Q4 | 63 | $823.0M | 100 | ||
| 2014 Q3 | 60 | $980.0M | 75 | ||
| 2014 Q2 | 62 | $1.3B | 71 | ||
| 2014 Q1 | 59 | $1.2B | 74 | ||
| 2013 Q4 | 55 | $1.0B | 100 | ||
| 2013 Q3 | 54 | $1.0B | 91 | ||
| 2013 Q2 | 58 | $1.0B | 0 |
Holding changes this quarter
Cobalt Capital Management, Inc.'s most significant position changes for 2026-06-30: Sold out: Air Lease CORP (AL); Sold out: Honeywell International Inc (HON); New buy: Blackstone Inc (BX); Sold out: Labcorp Holdings Inc (LH); New buy: Crown Holdings Inc (CCK).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BX | Blackstone Inc | +8.4% | NEW | New buy |
| 2 | CCK | Crown Holdings Inc | +6% | NEW | New buy |
| 3 | EXE | Expand Energy CORP | +5.5% | +89.31% | Add |
| 4 | VST | Vistra CORP | +5.1% | NEW | New buy |
| 5 | FTAI | FTAI Aviation Ltd. | +4.8% | +328.57% | Add |
| 6 | MU | Micron Technology Inc | +4.2% | -60.00% | Trim |
| 7 | ELV | Elevance Health Inc | +4.1% | NEW | New buy |
| 8 | GPN | Global Payments Inc | +2.1% | NEW | New buy |
| 9 | APO | Apollo Global Management Inc | +1.7% | NEW | New buy |
| 10 | SIMO | Silicon Motion Technol-adr | +1.4% | NEW | New buy |
| 11 | MGM | Mgm Resorts International | +1.4% | NEW | New buy |
| 12 | CLMT | Calumet Inc | +1.3% | NEW | New buy |
| 13 | GLD | Spdr Gold Shares | +1.1% | — | Unchanged |
| 14 | TEVA | Teva Pharmaceutical-sp Adr | +1% | +140.00% | Add |
| 15 | ✓ | +1% | NEW | New buy | |
| 16 | OBDC | Blue Owl Capital CORP | +0.8% | +19.12% | Add |
| 17 | ✓ | +0.8% | NEW | New buy | |
| 18 | VSAT | Viasat Inc | +0.8% | +5.26% | Add |
| 19 | DMAC | Diamedica Therapeutics Inc | +0.5% | NEW | New buy |
| 20 | LION | Lionsgate Studios CORP | +0.3% | NEW | New buy |
| 21 | AMC | Amc Entertainment Hlds-cl A | +0.1% | — | Unchanged |
| 22 | SNDA | Sonida Senior Living Inc | -0.4% | EXIT | Sold out |
| 23 | UAL | United Airlines Holdings Inc | -0.5% | -52.94% | Trim |
| 24 | CZR | Caesars Entertainment Inc | -0.7% | -83.33% | Trim |
| 25 | SOC | Sable Offshore CORP | -1% | EXIT | Sold out |
| 26 | RKT | Rocket Cos Inc-class A | -1.2% | -86.84% | Trim |
| 27 | HTZ | Hertz Global Hldgs Inc | -1.3% | EXIT | Sold out |
| 28 | BKD | Brookdale Senior Living Inc | -1.9% | -80.00% | Trim |
| 29 | LAD | Lithia Motors Inc | -2% | EXIT | Sold out |
| 30 | DHT | DHT Holdings, Inc. | -2.7% | EXIT | Sold out |
| 31 | NSC | Norfolk Southern CORP | -2.8% | -39.13% | Trim |
| 32 | KKR | Kkr & Co Inc | -3.1% | EXIT | Sold out |
| 33 | FANG | Diamondback Energy Inc | -3.3% | EXIT | Sold out |
| 34 | CI | THE Cigna Group | -3.7% | EXIT | Sold out |
| 35 | LH | Labcorp Holdings Inc | -6% | EXIT | Sold out |
| 36 | HON | Honeywell International Inc | -10.8% | EXIT | Sold out |
| 37 | AL | Air Lease CORP | -10.9% | EXIT | Sold out |
Filing History
FAQ
What is Cobalt Capital Management, Inc. and what type of investor is it?
Cobalt Capital Management, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $140.5M, spread across 26 disclosed positions.
What are Cobalt Capital Management, Inc.'s largest equity positions?
Based on the latest 13F filing, Cobalt Capital Management, Inc.'s top holdings by market value are:
1. Norfolk Southern CORP (NSC) — $22.0M (15.7%)
2. Spdr Gold Shares (GLD) — $18.4M (13.1%)
3. Expand Energy CORP (EXE) — $15.5M (11.0%)
4. Micron Technology Inc (MU) — $13.9M (9.9%)
5. Blackstone Inc (BX) — $11.8M (8.4%)
What changes did Cobalt Capital Management, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Cobalt Capital Management, Inc. made 35 notable position adjustments: 13 new positions were initiated, 5 existing holdings were added to, 6 positions were partially reduced, and 11 were completely exited. The largest of these moves: Sold out: Air Lease CORP (AL); Sold out: Honeywell International Inc (HON); New buy: Blackstone Inc (BX); Sold out: Labcorp Holdings Inc (LH); New buy: Crown Holdings Inc (CCK)
What sectors does Cobalt Capital Management, Inc. focus on?
Cobalt Capital Management, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 34.0%
• Financials: 15.9%
• Information Technology: 13.8%
• Energy: 13.7%
• Consumer Discretionary: 9.4%
• Health Care: 6.9%
Investment Profile
Cobalt Capital Management, Inc. returned an annualized 38.0% over the trailing 36 months — outperforming the S&P 500 by 13.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.04 (roughly in line with the market) and a 67% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 34.0% of the portfolio concentrated in Industrials.
Its turnover score has risen from 0 to 100 over the past 4 quarters — a shift toward more active trading.
It has added to its OBDC position over the past two quarters (+$2.7M, now $3.5M), while trimming GLD over the same stretch (-$11.3M, still holding $18.4M).
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