Cobalt Capital Management, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Cobalt Capital Management, Inc. reported 26 stock positions worth $213.1 million. Its top holding was Sumisho Air Lease (AL) at 17.4% of the portfolio, followed by Capital One Financial (COF, 14.0%) and Vistra (VST, 12.7%). Compared with Q1 2025, it opened 15 new positions, sold out of 11, added to 5 and reduced 6. The biggest buy was Capital One Financial (COF, shares +65%) and the biggest sale SPDR Gold Shares (GLD, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- SHORT HILLS, NJ
- CIK
- 0001086762
- Portfolio Value
- $213.1M (Q2 2025)
- SEC Filing
- 0000919574-25-004627 ↗ filed Aug 14, 2025
Holdings Value
Holdings 26 stocks · $213.1M
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 17.43% | 635,000 | $37.1M | Reduce -8.3% |
| COF Capital One Financial Corp. | 13.98% | 140,000 | $29.8M | Add +64.7% |
| VST Vistra Corp. | 12.73% | 140,000 | $27.1M | Reduce -15.2% |
| GLD SPDR Gold Shares | 10.01% | 70,000 | $21.3M | Reduce -46.1% |
| UAL United Airlines Holdings Inc. | 6.73% | 180,000 | $14.3M | Add +20.0% |
| WDC Western Digital Corp. | 4.80% | 160,000 | $10.2M | New |
| CCK Crown Holdings Inc. | 3.87% | 80,000 | $8.2M | New |
| VNOM Viper Energy Inc. | 3.58% | 200,000 | $7.6M | New |
| COOP Mr Cooper Group Inc. | 3.50% | 50,000 | $7.5M | New |
| CVS CVS Health Corp. | 3.24% | 100,000 | $6.9M | New |
| LAD Lithia Motors Inc. | 3.17% | 20,000 | $6.8M | Reduce -50.0% |
| TOL Toll Brothers Inc. | 2.41% | 45,000 | $5.1M | Reduce -71.9% |
| BLDR Builders Firstsource Inc. | 2.19% | 40,000 | $4.7M | Add +100.0% |
| MU Micron Technology Inc. | 1.74% | 30,000 | $3.7M | New |
| TEVA Teva Pharmaceutical-SP ADR | 1.73% | 220,000 | $3.7M | New |
| WSC Willscot Holdings Corp. | 1.54% | 120,000 | $3.3M | New |
| STR Sitio Royalties Corp. Class A | 1.21% | 140,000 | $2.6M | New |
| HTZ Hertz Global Hldgs Inc. | 1.15% | 360,000 | $2.5M | New |
| HUM Humana Inc. | 1.15% | 10,000 | $2.4M | New |
| MGM MGM Resorts International | 0.81% | 50,000 | $1.7M | New |
| GLNG Golar LNG Ltd. | 0.69% | 35,641 | $1.5M | New |
| BTU Peabody Energy Corp. | 0.63% | 100,000 | $1.3M | New |
| AMC AMC Entertainment HLDS Class A | 0.58% | 400,000 | $1.2M | Add +344.4% |
| PCG P G & E Corp. | 0.52% | 80,000 | $1.1M | Add +14.3% |
| CORZ Core Scientific Inc. | 0.40% | 50,000 | $854K | New |
| SOC Sable Offshore Corp. | 0.21% | 20,000 | $440K | Reduce -71.4% |
Portfolio Sells Q1 2025 → Q2 2025
| GLD SPDR Gold Shares | Reduce -46.1% | 10.01% | −8.43 |
| HES Hess Corp. | Sold out | 0.00% | −7.87 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −6.45 |
| TOL Toll Brothers Inc. | Reduce -71.9% | 2.41% | −5.91 |
| AER Aercap Holdings NV | Sold out | 0.00% | −4.03 |
| LAD Lithia Motors Inc. | Reduce -50.0% | 3.17% | −2.61 |
| STX Seagate Technology Holdings | Sold out | 0.00% | −2.51 |
| C Citigroup Inc. | Sold out | 0.00% | −1.40 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −1.21 |
| CAR Avis Budget Group Inc. | Sold out | 0.00% | −0.71 |
| SOC Sable Offshore Corp. | Reduce -71.4% | 0.21% | −0.67 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −0.55 |
| HP Helmerich & Payne | Sold out | 0.00% | −0.51 |
| ALK Alaska Air Group Inc. | Sold out | 0.00% | −0.48 |
| ASH Ashland Inc. | Sold out | 0.00% | −0.29 |
| AL Sumisho Air Lease Corp. | Reduce -8.3% | 17.43% | +0.96 |
| VST Vistra Corp. | Reduce -15.2% | 12.73% | +3.19 |
Portfolio Buys Q1 2025 → Q2 2025
| COF Capital One Financial Corp. | Add +64.7% | 13.98% | +6.47 |
| WDC Western Digital Corp. | New | 4.80% | +4.80 |
| CCK Crown Holdings Inc. | New | 3.87% | +3.87 |
| VNOM Viper Energy Inc. | New | 3.58% | +3.58 |
| COOP Mr Cooper Group Inc. | New | 3.50% | +3.50 |
| CVS CVS Health Corp. | New | 3.24% | +3.24 |
| MU Micron Technology Inc. | New | 1.74% | +1.74 |
| TEVA Teva Pharmaceutical-SP ADR | New | 1.73% | +1.73 |
| UAL United Airlines Holdings Inc. | Add +20.0% | 6.73% | +1.63 |
| WSC Willscot Holdings Corp. | New | 1.54% | +1.54 |
| STR Sitio Royalties Corp. Class A | New | 1.21% | +1.21 |
| HTZ Hertz Global Hldgs Inc. | New | 1.15% | +1.15 |
| HUM Humana Inc. | New | 1.15% | +1.15 |
| BLDR Builders Firstsource Inc. | Add +100.0% | 2.19% | +0.96 |
| MGM MGM Resorts International | New | 0.81% | +0.81 |
| GLNG Golar LNG Ltd. | New | 0.69% | +0.69 |
| BTU Peabody Energy Corp. | New | 0.63% | +0.63 |
| AMC AMC Entertainment HLDS Class A | Add +344.4% | 0.58% | +0.45 |
| CORZ Core Scientific Inc. | New | 0.40% | +0.40 |
| PCG P G & E Corp. | Add +14.3% | 0.52% | −0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $140.5M | NSC, GLD, EXE, MU, BX |
| Q1 2026 | 24 | $178.6M | NSC, GLD, AL, HON, LH |
| Q4 2025 | 28 | $225.9M | GLD, AL, NSC, APO, EXE |
| Q3 2025 | 22 | $217.6M | AL, GLD, NSC, MOH, COF |
| Q2 2025 | 26 | $213.1M | AL, COF, VST, GLD, UAL |
| Q1 2025 | 22 | $203.1M | GLD, AL, VST, TOL, HES |
| Q4 2024 | 27 | $240.7M | GLD, UAL, VST, AL, C |
| Q3 2024 | 26 | $225.0M | VST, GLD, AL, UAL, EQT |
| Q2 2024 | 22 | $230.7M | AL, GLD, VST, WDC, UAL |
| Q1 2024 | 24 | $310.2M | GLD, AL, UAL, VST, CRH |