Cobalt Capital Management, Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Cobalt Capital Management, Inc. reported 24 stock positions worth $178.6 million. Its top holding was Norfolk Southern (NSC) at 18.5% of the portfolio, followed by SPDR Gold Shares (GLD, 12.0%) and Sumisho Air Lease (AL, 10.9%). Compared with Q4 2025, it opened 11 new positions, sold out of 15, added to 4 and reduced 9. The biggest buy was a new position in Honeywell International (HON) and the biggest sale an exit from Apollo Global Management (APO).
- Most Recent 13F
- Q2 2026
- Location
- SHORT HILLS, NJ
- CIK
- 0001086762
- Portfolio Value
- $178.6M (Q1 2026)
- SEC Filing
- 0000919574-26-003163 ↗ filed May 15, 2026
Holdings Value
Holdings 24 stocks · $178.6M
| NSC Norfolk Southern Corp. | 18.48% | 115,000 | $33.0M | Add +15.0% |
| GLD SPDR Gold Shares | 12.05% | 50,000 | $21.5M | Reduce -33.3% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 10.89% | 299,500 | $19.4M | Reduce -33.4% |
| HON Honeywell International Inc. | 10.76% | 85,000 | $19.2M | New |
| LH Labcorp Holdings Inc. | 5.98% | 40,000 | $10.7M | New |
| MU Micron Technology Inc. | 5.67% | 30,000 | $10.1M | New |
| EXE Expand Energy Corp. | 5.52% | 89,800 | $9.9M | Reduce -25.2% |
| UAL United Airlines Holdings Inc. | 4.38% | 85,000 | $7.8M | Add +70.0% |
| CI The Cigna Group | 3.73% | 25,000 | $6.7M | Reduce -16.7% |
| FANG Diamondback Energy Inc. | 3.32% | 30,000 | $5.9M | New |
| KKR KKR & Co. Inc. | 3.11% | 60,000 | $5.5M | New |
| BKD Brookdale Senior Living Inc. | 2.68% | 350,000 | $4.8M | Add +775.0% |
| DHT DHT Holdings Inc. | 2.66% | 260,000 | $4.8M | New |
| LAD Lithia Motors Inc. | 2.00% | 14,332 | $3.6M | New |
| OBDC Blue Owl Capital Corp. | 1.67% | 270,000 | $3.0M | Add +348.6% |
| RKT Rocket Cos Inc. Class A | 1.52% | 190,000 | $2.7M | New |
| HTZ Hertz Global Hldgs Inc. | 1.34% | 520,000 | $2.4M | Reduce -16.8% |
| SOC Sable Offshore Corp. | 1.02% | 110,000 | $1.8M | Reduce -57.7% |
| FTAI Ftai Aviation Ltd. | 0.96% | 7,000 | $1.7M | New |
| CZR Caesars Entertainment Inc. | 0.89% | 60,000 | $1.6M | New |
| VSAT Viasat Inc. | 0.49% | 19,000 | $870K | Reduce -81.0% |
| TEVA Teva Pharmaceutical-SP ADR | 0.42% | 25,000 | $753K | Reduce -78.8% |
| SNDA Sonida Senior Living Inc. | 0.37% | 20,328 | $656K | New |
| AMC AMC Entertainment HLDS Class A | 0.09% | 170,000 | $167K | Reduce -32.0% |
Portfolio Sells Q4 2025 → Q1 2026
| APO Apollo Global Management Inc. | Sold out | 0.00% | −10.25 |
| ALK Alaska Air Group Inc. | Sold out | 0.00% | −5.79 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −4.66 |
| OWL Blue Owl Capital Inc. | Sold out | 0.00% | −4.63 |
| HUM Humana Inc. | Sold out | 0.00% | −4.53 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −2.88 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −2.54 |
| TOL Toll Brothers Inc. | Sold out | 0.00% | −2.39 |
| VST Vistra Corp. | Sold out | 0.00% | −2.14 |
| AL Sumisho Air Lease Corp. | Reduce -33.4% | 10.89% | −1.90 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -78.8% | 0.42% | −1.21 |
| GLD SPDR Gold Shares | Reduce -33.3% | 12.05% | −1.11 |
| VSAT Viasat Inc. | Reduce -81.0% | 0.49% | −1.04 |
| C Citigroup Inc. | Sold out | 0.00% | −1.03 |
| MOH Molina Healthcare Inc. | Sold out | 0.00% | −0.77 |
| APTV Aptiv PLC | Sold out | 0.00% | −0.67 |
| CCK Crown Holdings Inc. | Sold out | 0.00% | −0.46 |
| EXE Expand Energy Corp. | Reduce -25.2% | 5.52% | −0.34 |
| PRMB Primo Brands Corp. | Sold out | 0.00% | −0.14 |
| HTZ Hertz Global Hldgs Inc. | Reduce -16.8% | 1.34% | −0.08 |
| AMC AMC Entertainment HLDS Class A | Reduce -32.0% | 0.09% | −0.08 |
| KPLT Katapult Holdings Inc. | Sold out | 0.00% | −0.07 |
| SOC Sable Offshore Corp. | Reduce -57.7% | 1.02% | −0.02 |
| CI The Cigna Group | Reduce -16.7% | 3.73% | +0.08 |
Portfolio Buys Q4 2025 → Q1 2026
| HON Honeywell International Inc. | New | 10.76% | +10.76 |
| LH Labcorp Holdings Inc. | New | 5.98% | +5.98 |
| NSC Norfolk Southern Corp. | Add +15.0% | 18.48% | +5.70 |
| MU Micron Technology Inc. | New | 5.67% | +5.67 |
| FANG Diamondback Energy Inc. | New | 3.32% | +3.32 |
| KKR KKR & Co. Inc. | New | 3.11% | +3.11 |
| DHT DHT Holdings Inc. | New | 2.66% | +2.66 |
| BKD Brookdale Senior Living Inc. | Add +775.0% | 2.68% | +2.49 |
| LAD Lithia Motors Inc. | New | 2.00% | +2.00 |
| UAL United Airlines Holdings Inc. | Add +70.0% | 4.38% | +1.91 |
| RKT Rocket Cos Inc. Class A | New | 1.52% | +1.52 |
| OBDC Blue Owl Capital Corp. | Add +348.6% | 1.67% | +1.34 |
| FTAI Ftai Aviation Ltd. | New | 0.96% | +0.96 |
| CZR Caesars Entertainment Inc. | New | 0.89% | +0.89 |
| SNDA Sonida Senior Living Inc. | New | 0.37% | +0.37 |
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 |