1y return+0.9%S&P 500 +20.9%
3y return+86.2%S&P 500 +68.5%
5y return+109.8%S&P 500 +74.5%
10y return+205.9%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $306 against $357 in the S&P 500.2
Cobalt Capital Management, Inc.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NSCNorfolk Southn Corp | $22.0M | 15.7% | −39.1% |
| GLDSpdr Gold Tr | $18.4M | 13.1% | |
| EXEExpand Energy Corporation | $15.5M | 11.0% | +89.3% |
| MUMicron Technology Inc | $13.9M | 9.9% | −60.0% |
| BXBlackstone Inc | $11.8M | 8.4% | New |
| CCKCrown Hldgs Inc | $8.4M | 6.0% | New |
| Ftai Aviation LtdCUSIP G3730V105 | $8.1M | 5.8% | +328.6% |
| VSTVistra Corp | $7.1M | 5.1% | New |
| ELVElevance Health Inc Formerly | $5.8M | 4.1% | New |
| UALUnited Airls Hldgs Inc | $5.4M | 3.9% | −52.9% |
| OBDCBlue Owl Capital Corporation | $3.5M | 2.5% | +19.1% |
| GPNGlobal Pmts Inc | $2.9M | 2.1% | New |
| APOApollo Global Mgmt Inc | $2.4M | 1.7% | New |
| Teva Pharmaceutical Inds LtdCUSIP 881624209 | $2.0M | 1.4% | +140.0% |
| SIMOSilicon Motion Technology Co | $2.0M | 1.4% | New |
| MGMMgm Resorts International | $1.9M | 1.4% | New |
| CLMTCalumet Inc | $1.8M | 1.3% | New |
| VSATViasat Inc | $1.8M | 1.3% | +5.3% |
| WHKWhitehawk Minerals Corp | $1.4M | 1.0% | New |
| BKDBrookdale Sr Living Inc | $1.1M | 0.8% | −80.0% |
| HONAHoneywell Aerospace Inc | $1.1M | 0.8% | New |
| DMACDiamedica Therapeutics Inc | $634K | 0.5% | New |
| LIONLionsgate Studios Corp | $459K | 0.3% | New |
| RKTRocket Cos Inc | $394K | 0.3% | −86.8% |
| AMCAmc Entmt Hldgs Inc | $323K | 0.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| UALUnited Airls Hldgs Inc | March 31, 2023 | +207.3% | $5.4M |
| VSATViasat Inc | December 31, 2025 | +160.6% | $1.8M |
| GLDSpdr Gold Tr | June 30, 2020 | +120.1% | $18.4M |
| BKDBrookdale Sr Living Inc | December 31, 2025 | +49.1% | $1.1M |
| CZRCaesars Entertainment Inc Ne | March 31, 2026 | +14.2% | $302K |
| RKTRocket Cos Inc | March 31, 2026 | +10.5% | $394K |
| Ftai Aviation LtdCUSIP G3730V105 | March 31, 2026 | +10.4% | $8.1M |
| Teva Pharmaceutical Inds LtdCUSIP 881624209 | December 31, 2025 | +8.6% | $2.0M |
| NSCNorfolk Southn Corp | September 30, 2025 | +4.7% | $22.0M |
| OBDCBlue Owl Capital Corporation | December 31, 2025 | −12.6% | $3.5M |
Sold off last quarter
- Air Lease CorpCUSIP 00912X302 was $19.4M
- Honeywell Intl IncCUSIP 438516106 was $19.2M
- LHLabcorp Holdings Inc was $10.7M
- CIThe Cigna Group was $6.7M
- FANGDiamondback Energy Inc was $5.9M
- KKRKkr & Co Inc was $5.5M
- Dht Holdings IncCUSIP Y2065G121 was $4.8M
- LADLithia Mtrs Inc was $3.6M
- HTZHertz Global Hldgs Inc was $2.4M
- SOCSable Offshore Corp was $1.8M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | −9.3% | +14.8% |
| March 31, 2026 | −3.0% | −4.6% |
| December 31, 2025 | +2.4% | +2.4% |
| September 30, 2025 | +12.1% | +7.8% |
| June 30, 2025 | +15.6% | +10.5% |
| March 31, 2025 | −2.5% | −4.6% |
| December 31, 2024 | +13.0% | +2.1% |
| September 30, 2024 | +7.1% | +5.4% |
| June 30, 2024 | +4.1% | +4.0% |
| March 31, 2024 | +19.0% | +10.0% |
| December 31, 2023 | +9.1% | +11.2% |
| September 30, 2023 | +0.0% | −3.6% |
| June 30, 2023 | +5.3% | +8.3% |
| March 31, 2023 | +2.9% | +7.0% |
| December 31, 2022 | +4.2% | +7.1% |
| September 30, 2022 | −0.9% | −5.3% |
| June 30, 2022 | −13.5% | −16.5% |
| March 31, 2022 | +7.8% | −4.9% |
| December 31, 2021 | +7.1% | +10.7% |
| September 30, 2021 | +0.9% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Cobalt Capital Management, Inc. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1086762&type=13F-HR&dateb=&owner=include&count=40CIK 1086762
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1086762/000091957426005149/Filed August 14, 2026 · accession 0000919574-26-005149