SEC 13F Intelligence

Managers / Q3 2025 · view latest →

COBALT CAPITAL MANAGEMENT, INC.

CIK 0001086762 · 636 MORRIS TURNPIKE, SUITE 3B, SHORT HILLS, NJ, 07078 · 212-808-3756

Reported Value
$218M
Q3 2025
Positions
22
Filings on Record
31
2019–present window
Filed
Nov 13, 2025
original filing

Summary

Cobalt Capital Management, Inc. reported $218M in U.S.-listed holdings across 22 positions for Q3 2025.

Its largest position, AL, represents 14.6% of the portfolio.

Compared with Q2 2025, the fund opened 9 new positions and exited 13.

Portfolio Metrics

Turnover
+44.6%
vs prior filed quarter
Top-10 Concentration
+84.1%
share of reported value
Largest Position
+14.6%
Air Lease
New / Exited
9 / 13
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $347MQ4 ’18Q1 ’19: $230MQ2 ’19: $284MQ3 ’19: $252MQ4 ’19: $280MQ4 ’19Q1 ’20: $193MQ2 ’20: $175MQ3 ’20: $176MQ4 ’20: $293MQ4 ’20Q1 ’21: $280MQ2 ’21: $285MQ3 ’21: $350MQ4 ’21: $375MQ4 ’21Q1 ’22: $331MQ2 ’22: $300MQ3 ’22: $247MQ4 ’22: $240MQ4 ’22Q1 ’23: $275MQ2 ’23: $260MQ3 ’23: $262MQ4 ’23: $287MQ4 ’23Q1 ’24: $310MQ2 ’24: $231MQ3 ’24: $225MQ4 ’24: $241MQ4 ’24Q1 ’25: $203MQ2 ’25: $213MQ3 ’25: $218MQ4 ’25: $226MQ4 ’25Q1 ’26: $179Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 84.9%ETP: 13.1%Other: 2.0%
  • Common Stock · 84.9% · $185M
  • ETP · 13.1% · $28M
  • Other · 2.0% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NSCNORFOLK SOUTHN CORPNEW+90.0K90.0K+$27M$27M
MOHMOLINA HEALTHCARE INCNEW+115.0K115.0K+$22M$22M
APOAPOLLO GLOBAL MGMT INCNEW+90.0K90.0K+$12M$12M
ARANTERO RESOURCES CORPNEW+320.0K320.0K+$11M$11M
CRCCALIFORNIA RES CORPNEW+120.0K120.0K+$6M$6M
APTIV PLCNEW+50.0K50.0K+$4M$4M
BXBLACKSTONE INCNEW+10.0K10.0K+$2M$2M
BHFBRIGHTHOUSE FINL INCNEW+25.0K25.0K+$1M$1M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

22 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ALAIR LEASE CORPhistory →CL A14.63%$32M500.0K
2GQ9SPDR GOLD TRhistory →GOLD SHS13.07%$28M80.0K
3NSCNORFOLK SOUTHN CORPhistory →COM12.43%$27M90.0K
4MOHMOLINA HEALTHCARE INChistory →COM10.11%$22M115.0K
5COFCAPITAL ONE FINL CORPhistory →COM7.82%$17M80.0K
6UALUNITED AIRLS HLDGS INChistory →COM6.65%$14M150.0K
7APOAPOLLO GLOBAL MGMT INChistory →COM5.51%$12M90.0K
8ARANTERO RESOURCES CORPhistory →COM4.94%$11M320.0K
9VSTVISTRA CORPhistory →COM4.50%$10M50.0K
10TOLTOLL BROTHERS INChistory →COM4.44%$10M70.0K
11WDCWESTERN DIGITAL CORPhistory →COM3.03%$7M55.0K
12CRCCALIFORNIA RES CORPhistory →COM STOCK2.93%$6M120.0K
13HTZHERTZ GLOBAL HLDGS INChistory →COM NEW2.06%$4M659.9K
14APTIV PLCCOM SHS1.98%$4M50.0K
15MR COOPER GROUP INCCOM1.36%$3M14.0K
16CCKCROWN HLDGS INChistory →COM1.33%$3M30.0K
17MGMMGM RESORTS INTERNATIONALCOM0.96%$2M60.0K
18BXBLACKSTONE INCCOM0.79%$2M10.0K
19BHFBRIGHTHOUSE FINL INCCOM0.61%$1M25.0K
20ZZILLOW GROUP INCCL C CAP STK0.35%$770,50010.0K
21AMC ENTMT HLDGS INCCL A NEW0.33%$725,000250.0K
22SOCSABLE OFFSHORE CORPCOM SHS0.16%$349,20020.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$179M24May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$226M28Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$218M22Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$213M26Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$203M22May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$241M27Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$225M26Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$231M22Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$310M24May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$287M26Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$262M25Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$260M29Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$275M27May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$240M22Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$247M28Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$300M33Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$331M40May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$375M41Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$350M38Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$285M31Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$280M34May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$293M30Feb 16, 2021RESTATEMENTchanges · EDGAR ↗
Q3 2020$176M26Nov 18, 202013F-HRchanges · EDGAR ↗
Q2 2020$175M24Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$193M34May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$280M26Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$252M31Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$284M38Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$230M28May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$347M37Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • COBALT PARTNERS, L.P.028-10572

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.