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COBALT CAPITAL MANAGEMENT, INC.

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13F filer, CIK 1086762, SHORT HILLS, NJ

COBALT CAPITAL MANAGEMENT, INC. reported $217,578,380 across 22 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-13. Its ten largest share positions make up 84.1% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000919574-25-006739

Period
2025-09-30
Reported value
$218M
Holdings
22
Top 10 weight
84.1%
New
9
Sold out
13

Part of the filer group COBALT CAPITAL MANAGEMENT, INC.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NSCnew+90,000$27M
MOHnew+115,000$22M
APOnew+90,000$12M
ARnew+320,000$10.7M
CRCnew+120,000$6.38M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
VSTreduced-90,000-$17.6M
COFreduced-60,000-$12.8M
WDCreduced-105,000-$12.6M
ALreduced-135,000-$8.59M
VIPER ENERGY INC-CL Aexited-200,000-$7.63M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0000919574-25-006739, largest first. % of portfolio is the value over $217,578,380, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ALAIR LEASE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,000 shares; 2024Q4: 568,308 shares; 2025Q1: 692,383 shares; 2025Q2: 635,000 shares; 2025Q3: 500,000 shares 500,000$31.8M14.63%-135,000Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,000 shares; 2024Q4: 150,000 shares; 2025Q1: 130,000 shares; 2025Q2: 70,000 shares; 2025Q3: 80,000 shares 80,000$28.4M13.07%+10,000Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 90,000 shares 90,000$27M12.43%newTimeline
MOHMOLINA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 115,000 shares 115,000$22M10.11%newTimeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 85,000 shares; 2025Q2: 140,000 shares; 2025Q3: 80,000 shares 80,000$17M7.82%-60,000Timeline
UALUNITED AIRLS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 385,000 shares; 2024Q4: 350,000 shares; 2025Q1: 150,000 shares; 2025Q2: 180,000 shares; 2025Q3: 150,000 shares 150,000$14.5M6.65%-30,000Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 90,000 shares 90,000$12M5.51%newTimeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 275,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 320,000 shares 320,000$10.7M4.94%newTimeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 365,000 shares; 2024Q4: 200,000 shares; 2025Q1: 165,000 shares; 2025Q2: 140,000 shares; 2025Q3: 50,000 shares 50,000$9.8M4.5%-90,000Timeline
TOLTOLL BROTHERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,000 shares; 2024Q4: 90,000 shares; 2025Q1: 160,000 shares; 2025Q2: 45,000 shares; 2025Q3: 70,000 shares 70,000$9.67M4.44%+25,000Timeline
WDCWESTERN DIGITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 160,000 shares; 2025Q3: 55,000 shares 55,000$6.6M3.03%-105,000Timeline
CRCCALIFORNIA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$6.38M2.93%newTimeline
HTZHERTZ GLOBAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 360,000 shares; 2025Q3: 659,900 shares 659,900$4.49M2.06%+299,900Timeline
APTVAPTIV PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 115,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 50,000 shares 50,000$4.31M1.98%newTimeline
MR COOPER GROUP INCMR COOPER GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares; 2025Q3: 14,000 shares 14,000$2.95M1.36%-36,000
CCKCROWN HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 80,000 shares; 2025Q3: 30,000 shares 30,000$2.9M1.33%-50,000Timeline
MGMMGM RESORTS INTERNATIONALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares; 2025Q3: 60,000 shares 60,000$2.08M0.96%+10,000Timeline
BXBLACKSTONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,000 shares 10,000$1.71M0.79%newTimeline
BHFBRIGHTHOUSE FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,000 shares 25,000$1.33M0.61%newTimeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,000 shares 10,000$770K0.35%newTimeline
AMCAMC ENTMT HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 450,000 shares; 2025Q1: 90,000 shares; 2025Q2: 400,000 shares; 2025Q3: 250,000 shares 250,000$725K0.33%-150,000Timeline
SOCSABLE OFFSHORE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 70,000 shares; 2025Q2: 20,000 shares; 2025Q3: 20,000 shares 20,000$349K0.16%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
VIPER ENERGY INC-CL AVIPER ENERGY INC-CL A200,000$7.63Mshares
CVSCVS HEALTH CORP100,000$6.9Mshares
LADLITHIA MTRS INC20,000$6.76Mshares
BLDRBUILDERS FIRSTSOURCE INC40,000$4.67Mshares
MUMICRON TECHNOLOGY INC30,000$3.7Mshares
TEVATEVA PHARMACEUTICAL INDS LTD220,000$3.69Mshares
WSCWILLSCOT HLDGS CORP120,000$3.29Mshares
SITIO ROYALTIES CORPSITIO ROYALTIES CORP140,000$2.57Mshares
HUMHUMANA INC10,000$2.44Mshares
GLNGGOLAR LNG LTD35,641$1.47Mshares
BTUPEABODY ENGR CORP100,000$1.34Mshares
PCGPG&E CORP80,000$1.12Mshares
CORZCORE SCIENTIFIC INC NEW50,000$854Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000919574-25-006739 base2025-11-13acceptance time not in the bulk data set