Cobalt Capital Management, INC. — Q4 2025 13F Holdings

Name: Cobalt Capital Management, INC. — 13F Holdings, Q4 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001086762

Total reported value

$178.6M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GLD	Spdr Gold Shares	ETF-Commodities	13.16%	-1.11%	-6.25%
2	AL	Air Lease CORP	Stock-Other	12.79%	-1.90%	-10.00%
3	NSC	Norfolk Southern CORP	Stock-Industrials	12.78%	+5.70%	+11.11%
4	APO	Apollo Global Management INC	Stock-Financials	10.25%	-10.25%	EXIT
5	EXE	Expand Energy CORP	Stock-Energy	5.86%	-0.34%	—
6	ALK	Alaska Air Group INC	Stock-Industrials	5.79%	-5.79%	EXIT
7	AMAT	Applied Materials INC	Stock-Tech	4.66%	-4.66%	EXIT
8	OWL	Blue Owl Capital INC	Stock-Financials	4.63%	-4.63%	EXIT
9	HUM	Humana INC	Stock-Healthcare	4.53%	-4.53%	EXIT
10	CI	THE Cigna Group	Stock-Healthcare	3.65%	+0.08%	—
11	MPC	Marathon Petroleum CORP	Stock-Energy	2.88%	-2.88%	EXIT
12	FXI	Ishares China Large-cap ETF	ETF-Emerging Markets	2.54%	-2.54%	EXIT
13	UAL	United Airlines Holdings INC	Stock-Industrials	2.47%	+1.91%	-66.67%
14	TOL	Toll Brothers INC	Stock-Consumer Disc	2.39%	-2.39%	EXIT
15	VST	Vistra CORP	Stock-Utilities	2.14%	-2.14%	EXIT
16	TEVA	Teva Pharmaceutical-sp Adr	Stock-Healthcare	1.63%	-1.21%	—
17	VSAT	Viasat INC	Stock-Tech	1.53%	-1.04%	—
18	HTZ	Hertz Global Hldgs INC	Stock-Other	1.42%	-0.08%	-5.30%
19	SOC	Sable Offshore CORP	Stock-Other	1.04%	-0.02%	+1200.00%
20	C	Citigroup INC	Stock-Financials	1.03%	-1.03%	EXIT
21	MOH	Molina Healthcare INC	Stock-Healthcare	0.77%	-0.77%	EXIT
22	APTV	Aptiv PLC	Stock-Consumer Disc	0.67%	-0.67%	EXIT
23	CCK	Crown Holdings INC	Stock-Consumer Disc	0.46%	-0.46%	EXIT
24	OBDC	Blue Owl Capital CORP	Stock-Financials	0.33%	+1.34%	—
25	BKD	Brookdale Senior Living INC	Stock-Other	0.19%	+2.49%	—
26	AMC	Amc Entertainment Hlds-cl A	Stock-Other	0.17%	-0.08%	—
27	PRMB	Primo Brands CORP	Stock-Consumer Staples	0.14%	-0.14%	EXIT
28	KPLT	Katapult Holdings INC	Stock-Other	0.07%	-0.07%	EXIT

Holding changes this quarter

Position changes disclosed by Cobalt Capital Management, INC. for the quarter ending Q4 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	APO	Apollo Global Management INC	+4.7%	+77.78%	Add
2	SOC	Sable Offshore CORP	+0.9%	+1200.00%	Add
3	NSC	Norfolk Southern CORP	+0.4%	+11.11%	Add
4	GLD	Spdr Gold Shares	+0.1%	-6.25%	Trim
5	AMC	Amc Entertainment Hlds-cl A	-0.2%	—	Unchanged
6	HTZ	Hertz Global Hldgs INC	-0.6%	-5.30%	Trim
7	CCK	Crown Holdings INC	-0.9%	-66.67%	Trim
8	APTV	Aptiv PLC	-1.3%	-60.00%	Trim
9	AL	Air Lease CORP	-1.8%	-10.00%	Trim
10	TOL	Toll Brothers INC	-2.1%	-42.86%	Trim
11	VST	Vistra CORP	-2.4%	-40.00%	Trim
12	UAL	United Airlines Holdings INC	-4.2%	-66.67%	Trim
13	MOH	Molina Healthcare INC	-9.3%	-91.30%	Trim
14	COF	Capital One Financial CORP	—	EXIT	Sold out
15	EXE	Expand Energy CORP	—	NEW	New buy
16	ALK	Alaska Air Group INC	—	NEW	New buy
17	AR	Antero Resources CORP	—	EXIT	Sold out
18	AMAT	Applied Materials INC	—	NEW	New buy
19	OWL	Blue Owl Capital INC	—	NEW	New buy
20	HUM	Humana INC	—	NEW	New buy
21	CI	THE Cigna Group	—	NEW	New buy
22	WDC	Western Digital CORP	—	EXIT	Sold out
23	MPC	Marathon Petroleum CORP	—	NEW	New buy
24	CRC	California Resources CORP	—	EXIT	Sold out
25	FXI	Ishares China Large-cap ETF	—	NEW	New buy
26	TEVA	Teva Pharmaceutical-sp Adr	—	NEW	New buy
27	VSAT	Viasat INC	—	NEW	New buy
28	07WA	Mr Cooper Group INC	—	EXIT	Sold out
29	C	Citigroup INC	—	NEW	New buy
30	MGM	Mgm Resorts International	—	EXIT	Sold out
31	BX	Blackstone INC	—	EXIT	Sold out
32	BHF	Brighthouse Financial INC	—	EXIT	Sold out
33	Z	Zillow Group INC - C	—	EXIT	Sold out
34	OBDC	Blue Owl Capital CORP	—	NEW	New buy
35	BKD	Brookdale Senior Living INC	—	NEW	New buy
36	PRMB	Primo Brands CORP	—	NEW	New buy
37	KPLT	Katapult Holdings INC	—	NEW	New buy