# COBALT CAPITAL MANAGEMENT, INC.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1086762. Source: https://holderbook.com/funds/1086762-cobalt-capital-management-inc/

- Reported value: $140.5M
- Positions: 26
- Weight of the ten largest: 82.9%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $22.0M | 70,000 | 15.7% | 4 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $18.4M | 50,000 | 13.1% | 31 |
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $15.5M | 170,000 | 11.0% | 3 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $13.9M | 12,000 | 9.9% | 2 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $11.8M | 100,000 | 8.4% | 1 |
| CROWN HLDGS INC | [CCK](https://holderbook.com/stocks/CCK/) | $8.4M | 75,000 | 6.0% | 1 |
| FTAI AVIATION LTD | [FTAI](https://holderbook.com/stocks/FTAI/) | $8.1M | 30,000 | 5.8% | 2 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $7.1M | 45,000 | 5.1% | 1 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $5.8M | 15,000 | 4.1% | 1 |
| UNITED AIRLS HLDGS INC | [UAL](https://holderbook.com/stocks/UAL/) | $5.4M | 40,000 | 3.9% | 14 |
| BLUE OWL CAPITAL CORPORATION | [OBDC](https://holderbook.com/stocks/OBDC/) | $3.5M | 321,618 | 2.5% | 3 |
| GLOBAL PMTS INC | [GPN](https://holderbook.com/stocks/GPN/) | $2.9M | 40,000 | 2.1% | 1 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $2.4M | 20,000 | 1.7% | 1 |
| TEVA PHARMACEUTICAL INDS LTD | [TEVA](https://holderbook.com/stocks/TEVA/) | $2.0M | 60,000 | 1.4% | 3 |
| SILICON MOTION TECHNOLOGY CO | [SIMO](https://holderbook.com/stocks/SIMO/) | $2.0M | 6,000 | 1.4% | 1 |
| MGM RESORTS INTERNATIONAL | [MGM](https://holderbook.com/stocks/MGM/) | $1.9M | 40,000 | 1.4% | 1 |
| CALUMET INC | [CLMT](https://holderbook.com/stocks/CLMT/) | $1.8M | 50,000 | 1.3% | 1 |
| VIASAT INC | [VSAT](https://holderbook.com/stocks/VSAT/) | $1.8M | 20,000 | 1.3% | 3 |
| WHITEHAWK MINERALS CORP | [WHK](https://holderbook.com/stocks/WHK/) | $1.4M | 50,000 | 1.0% | 1 |
| BROOKDALE SR LIVING INC | [BKD](https://holderbook.com/stocks/BKD/) | $1.1M | 70,000 | 0.8% | 3 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $1.1M | 5,000 | 0.8% | 1 |
| DIAMEDICA THERAPEUTICS INC | [DMAC](https://holderbook.com/stocks/DMAC/) | $633.6K | 90,000 | 0.5% | 1 |
| LIONSGATE STUDIOS CORP | [LION](https://holderbook.com/stocks/LION/) | $459.3K | 30,000 | 0.3% | 1 |
| ROCKET COS INC | [RKT](https://holderbook.com/stocks/RKT/) | $393.8K | 25,000 | 0.3% | 2 |
| AMC ENTMT HLDGS INC | [AMC](https://holderbook.com/stocks/AMC/) | $323.0K | 170,000 | 0.2% | 7 |
| CAESARS ENTERTAINMENT INC NE | [CZR](https://holderbook.com/stocks/CZR/) | $301.8K | 10,000 | 0.2% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +14.9% | +14.8% | +0.1% | 100% |
| Q1 2026 | -3.0% | -4.6% | +1.6% | 100% |
| Q4 2025 | +2.8% | +2.4% | +0.5% | 100% |
| Q3 2025 | +12.3% | +7.8% | +4.5% | 99% |
| Q2 2025 | +15.6% | +10.5% | +5.1% | 100% |
| Q1 2025 | -2.5% | -4.6% | +2.1% | 100% |
| Q4 2024 | +13.0% | +2.1% | +10.9% | 100% |
| Q3 2024 | +7.1% | +5.4% | +1.7% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $140.5M | 26 |
| Q1 2026 | $178.6M | 24 |
| Q4 2025 | $225.9M | 28 |
| Q3 2025 | $217.6M | 22 |
| Q2 2025 | $213.1M | 26 |
| Q1 2025 | $203.1M | 22 |
| Q4 2024 | $240.7M | 27 |
| Q3 2024 | $225.0M | 26 |
| Q2 2024 | $230.7M | 22 |
| Q1 2024 | $310.2M | 24 |
| Q4 2023 | $287.2M | 26 |
| Q3 2023 | $262.2M | 25 |