What happened According to a filing with the U.S. Securities and Exchange Commission dated May 14, 2026, Cobalt Capital Management sold its entire stake of 260,000 shares in Alaska Air Group (ALK +5.93%) during the first quarter. The quarter-end position value dropped by $13.08 million, reflecting both the transaction and share price fluctuations. What else to know Cobalt Capital Management fully ...
What happened According to a filing with the U.S. Securities and Exchange Commission dated May 14, 2026, Cobalt Capital Management sold its entire stake of 260,000 shares in Alaska Air Group (ALK +5.93%) during the first quarter. The quarter-end position value dropped by $13.08 million, reflecting both the transaction and share price fluctuations. What else to know Cobalt Capital Management fully exited Alaska Air Group. Top holdings after the filing: NYSEMKT:GLD: $21.51 million (12.0% of AUM) NASDAQ:HON: $19.21 million (10.8% of AUM) As of May 14, 2026, shares of Alaska Air Group were priced at $38.16, down 29.5% over the past year, underperforming the S&P 500 by 56.84 percentage points. Company Overview Metric Value Revenue (TTM) $14.40 billion Net Income (TTM) $73.00 million Market Capitalization $4.87 billion Price (as of market close 2026-05-14) $38.16 Company Snapshot Alaska Air Group is a leading North American airline with a diversified network serving both passenger and cargo markets. The company leverages operational scale and regional partnerships to maintain competitive service offerings and route flexibility. The company provides passenger and cargo air transportation services across approximately 120 destinations in North America, operating through Mainline, Regional, and Horizon segments. It generates revenue from passenger and cargo air transportation services, operating through Mainline, Regional, and Horizon segments. Alaska Air Group serves passenger and cargo clients across approximately 120 destinations throughout North America. What this transaction means for investors Alaska Air Group aims to strengthen its revenue base through the Hawaiian Airlines acquisition, despite ongoing pressure from jet fuel price volatility. The combined company, now including Alaska Airlines, Hawaiian Airlines, and Horizon Air, is positioned to grow premium, loyalty, corporate, and international revenue. First-quarter results reflected this transition. The company’s...
There is an end in sight to the UK's record-breaking heat after a new national temperature record for May was set on Tuesday. For a second day in a row, the temperature exceeded 34C in south-east England and a new May record of 35.1C was recorded at Kew Gardens in London. It follows a remarkable few days of searing heat that saw six amber heat health alerts issued across south-west England, the We...
There is an end in sight to the UK's record-breaking heat after a new national temperature record for May was set on Tuesday. For a second day in a row, the temperature exceeded 34C in south-east England and a new May record of 35.1C was recorded at Kew Gardens in London. It follows a remarkable few days of searing heat that saw six amber heat health alerts issued across south-west England, the West Midlands, East Midlands, east of England, south east and London regions. Monday and Tuesday saw nearly all weather stations across England and Wales break their local temperature records for May.
The rally in the global aluminum market could spur record exports of the metal from China, where elevated prices are capping consumption. Aluminum on the London Metal Exchange is trading at its steepest premium to Shanghai futures since March 2022, after the war in the Middle East choked supplies from a key producing region and created a deficit on the international market. Chinese exports rose 15...
The rally in the global aluminum market could spur record exports of the metal from China, where elevated prices are capping consumption. Aluminum on the London Metal Exchange is trading at its steepest premium to Shanghai futures since March 2022, after the war in the Middle East choked supplies from a key producing region and created a deficit on the international market. Chinese exports rose 15% in April to 598,000 tons, the highest since November 2024. They could climb further to a record of more than 680,000 tons in the coming months, said Zhu Liangmin, an analyst with researcher Beijing Aladdiny Zhongying Business Consulting Co. Aluminum rods for power grids — exempted from a recent tightening in China’s export rebates — and alloys used in wheels, are seeing particular demand, he said. Although prices in China have been dragged higher by the LME’s surge, as the largest producer it’s largely immune from the shortage, particularly given a slowing economy and tepid domestic demand. Many fabricators in the production hub of Henan province are running at full capacity to meet brimming orders for products such as ultra-thin battery foil, according to a local media report. It cited an executive at Henan Mingtai Aluminum Industrial Co. , who reported a jump in overseas sales in the second quarter. LME prices have hit four-year highs in recent days, but one complicating factor is that some of those gains have been driven by fears that Chinese supply could tighten if smelters are forced to cut output to meet the government’s energy use and emissions targets. On the Wire China’s industrial companies saw their profits soar at the fastest in more than two years, lifted higher by demand for artificial intelligence-related goods and a surge in oil prices stemming from the Iran war. China’s new mandatory safety standards for photovoltaic modules are expected to accelerate the phase-out of substandard capacity and drive industry upgrades, according to Shanghai Securities News....
Japan’s 40-year government bond auction drew stronger demand than its 12-month average, as higher yields attracted investors despite inflation concerns driven by the Middle East conflict. The bid-to-cover ratio at Wednesday’s sale was 2.70, compared with 2.54 at the last auction, and a 12-month average of 2.47. The bonds yielded 3.84% vs 3.6% in the prior sale and the highest yield estimate of 3.8...
Japan’s 40-year government bond auction drew stronger demand than its 12-month average, as higher yields attracted investors despite inflation concerns driven by the Middle East conflict. The bid-to-cover ratio at Wednesday’s sale was 2.70, compared with 2.54 at the last auction, and a 12-month average of 2.47. The bonds yielded 3.84% vs 3.6% in the prior sale and the highest yield estimate of 3.85% in a Bloomberg survey. The result came as oil prices remained elevated amid persistent uncertainty over a potential deal to reopen the Strait of Hormuz. US and Israeli forces struck Iranian vessels in the strait and other targets just hours after President Donald Trump suggested negotiations with Tehran over an interim agreement were progressing. The 40-year yield last traded at 4.09%, below its record high of 4.355% reached earlier this month. Meanwhile, supply fears are easing after Prime Minister Sanae Takaichi said the government would fund its supplementary budget without increasing bond issuance on a calendar-year basis. Finance Minister Satsuki Katayama also said about $3.2 billion from this fiscal year’s reserve funds would be used to finance utility subsidies.
VIS’s AI Moment: Why Mature-Node Specialty Processes Are Becoming Strategic Again In Taiwan’s semiconductor map, TSMC is usually understood as the global leader in advanced process technology, while Vanguard International Semiconductor Corporation, or VIS, is often categorized as a mature-node foundry. This classification is directionally correct, but it is not sufficient. VIS is not simply a smal...
VIS’s AI Moment: Why Mature-Node Specialty Processes Are Becoming Strategic Again In Taiwan’s semiconductor map, TSMC is usually understood as the global leader in advanced process technology, while Vanguard International Semiconductor Corporation, or VIS, is often categorized as a mature-node foundry. This classification is directionally correct, but it is not sufficient. VIS is not simply a smaller version of TSMC. Nor is it merely another 8-inch wafer foundry competing in the low-growth mature-node market. Its strategic position is much more specific: VIS is a long-standing TSMC-affiliated company, an independent foundry, and a key platform for preserving and monetizing mature-node value within Taiwan’s semiconductor ecosystem. The relationship between TSMC and VIS cannot be explained by the simple language of parent and subsidiary. Legally and operationally, VIS is not a TSMC subsidiary. TSMC has long been its largest single shareholder, with a stake around the high-20% range, but it does not hold majority control. VIS is independently listed, has its own board, its own management team, and its own capital allocation discipline. However, it would also be inaccurate to describe VIS as just another unrelated foundry. Its history, technology roots, customer trust, and strategic role are closely tied to TSMC. The better way to understand VIS is this: it is TSMC’s non-subsidiary ally in mature and specialty processes. It sits outside TSMC’s direct operating structure, but inside the broader strategic logic of Taiwan’s semiconductor division of labor. This distinction matters. As TSMC moves deeper into 3nm, 2nm, A16, CoWoS, SoIC, and next-generation AI infrastructure, it must continuously reallocate capital, talent, cleanroom space, and management attention toward the highest-value frontier. But the semiconductor world does not run only on advanced logic. Power management ICs, display drivers, MOSFETs, IGBTs, analog ICs, mixed-signal devices, MEMS, sensors, protection...