13F-HR 1 d800446_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended June 30, 2007 Check here if Amendment: | |; Amendment Number: This Amendment (Check only one): | | is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Cobalt Capital Management, Inc. Address: 237 Park Avenue, Suite 900 New York, New York 10017 13F File Number: 028-04967 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Wayne Cooperman Title: President Phone: (212) 808-3756 Signature, Place and Date of Signing: /s/ Wayne Cooperman New York, New York August 13, 2007 ----------------------- -------------------------- --------------------- [Signature] [City, State] [Date] Report Type: (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report). [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting managers(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: NONE Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 3 Form 13F Information Table Entry Total: 77 Form 13F Information Table Value Total: $1,733,221 (in thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1. 028-10571 Cobalt Offshore Fund Limited 2. 028-10572 Cobalt Partners, L.P. 3. 028-12326 Cobalt Partners II, L.P. ---- ---------------------- ------------------------------- FORM 13F INFORMATION TABLE

COLUMN 1: COLUMN 2: COLUMN 3: COLUMN 4: COLUMN 5: COLUMN 6: COLUMN 7: COLUMN 8: Value SHRS OR SH/ PUT/ Investment Other Voting Authority Name of Issuer Title of Class CUSIP (x$1000) PRN AMT PRN CALL Discretion Managers Sole Shared None ALCOA INC COM 013817101 67,972 1,677,081 SH SHARED 1, 2, 3 1,677,081 AMERISOURCEBERGEN CORP COM 03073E105 4,947 100,000 SH SHARED 1, 2, 3 100,000 ARCH COAL INC COM 039380100 21,378 614,300 SH SHARED 1, 2, 3 614,300 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 4,909 117,300 SH SHARED 1, 2, 3 117,300 AMERICAN INTL GROUP INC COM 026874107 17,508 250,000 SH SHARED 1, 2, 3 250,000 AMERICAN TOWER CORP CL A 029912201 121,348 2,889,249 SH SHARED 1, 2, 3 2,889,249 TD AMERITRADE HLDG CORP COM 87236Y108 31,536 1,576,776 SH SHARED 1, 2, 3 1,576,776 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 16,733 270,200 SH SHARED 1, 2, 3 270,200 ARBITRON INC COM 03875Q108 3,236 62,800 SH SHARED 1, 2, 3 62,800 ALLEGHENY TECHNOLOGIES INC COM 01741R102 33,368 318,155 SH SHARED 1, 2, 3 318,155 ATLAS AMER INC COM 049167109 127,609 2,374,996 SH SHARED 1, 2, 3 2,374,996 AMERICAN EXPRESS CO COM 025816109 2,928 50,000 SH SHARED 1, 2, 3 50,000 BIG LOTS INC COM 089302103 2,942 100,000 SH SHARED 1, 2, 3 100,000 PEABODY ENERGY CORP COM 704549104 5,766 119,186 SH SHARED 1, 2, 3 119,186 CARDINAL HEALTH INC COM 14149Y108 14,142 200,200 SH SHARED 1, 2, 3 200,200 CATERPILLAR INC DEL COM 149123101 30,459 389,000 SH SHARED 1, 2, 3 389,000 CROWN CASTLE INTL CORP COM 228227104 15,001 413,600 SH SHARED 1, 2, 3 413,600 CROWN HOLDINGS INC COM 228368106 82,708 3,312,300 SH SHARED 1, 2, 3 3,312,300 CENTURY ALUM CO COM 156431108 32,452 594,024 SH SHARED 1, 2, 3 594,024 COMCAST CORP NEW CL A 20030N101 39,289 1,405,182 SH SHARED 1, 2, 3 1,405,182 CANADIAN NATL RY CO COM 136375102 29,030 570,000 SH SHARED 1, 2, 3 570,000 CABOT OIL & GAS CORP COM 127097103 14,616 396,300 SH SHARED 1, 2, 3 396,300 CISCO SYS INC COM 17275R102 20,223 726,133 SH SHARED 1, 2, 3 726,133 CSX CORP COM 126408103 36,400 807,455 SH SHARED 1, 2, 3 807,455 CVS CAREMARK CORPORATION COM 126650100 29,474 808,625 SH SHARED 1, 2, 3 808,625 CYTEC INDS INC COM 232820100 5,249 121,757 SH SHARED 1, 2, 3 121,757 DELTA AIR LINES INC DEL COM NEW 247361702 11,820 600,000 SH SHARED 1, 2, 3 600,000 DEERE & CO COM 244199105 30,306 251,000 SH SHARED 1, 2, 3 251,000 DIAMOND OFFSHORE DRILLING IN COM 25271C102 9,140 90,000 SH SHARED 1, 2, 3 90,000 ENERGY CONVERSION DEVICES IN COM 292659109 788 25,573 SH SHARED 1, 2, 3 25,573 EAGLE MATERIALS INC COM 26969P108 8,378 170,800 SH SHARED 1, 2, 3 170,800 FLEXTRONICS INTL LTD ORD Y2573F102 1,080 100,000 SH SHARED 1, 2, 3 100,000 GENERAL MTRS CORP COM 370442105 7,560 200,000 SH SHARED 1, 2, 3 200,000 GATX CORP COM 361448103 10,894 221,200 SH SHARED 1, 2, 3 221,200 GOOGLE INC CL A 38259P508 10,454 20,000 SH SHARED 1, 2, 3 20,000 GRANT PRIDECO INC COM 38821G101 6,998 130,000 SH SHARED 1, 2, 3 130,000 GRANITE CONSTR INC COM 387328107 18,266 284,600 SH SHARED 1, 2, 3 284,600 HOME DEPOT INC COM 437076102 1,574 40,000 SH SHARED 1, 2, 3 40,000 HARSCO CORP COM 415864107 29,697 571,100 SH SHARED 1, 2, 3 571,100 INTEL CORP COM 458140100 11,870 500,000 SH SHARED 1, 2, 3 500,000 INVESCO PLC SPONSORED ADR 46127U104 1,293 50,000 SH SHARED 1, 2, 3 50,000 KB HOME COM 48666K109 2,362 60,000 SH SHARED 1, 2, 3 60,000 LENNAR CORP CL A 526057104 1,828 50,000 SH SHARED 1, 2, 3 50,000 LOUISIANA PAC CORP COM 546347105 1,892 100,000 SH SHARED 1, 2, 3 100,000 LAS VEGAS SANDS CORP COM 517834107 7,639 100,000 SH SHARED 1, 2, 3 100,000 LEXMARK INTL NEW CL A 529771107 8,289 168,100 SH SHARED 1, 2, 3 168,100 ARCELOR MITTAL NY REG SH CL A 03937E101 44,265 709,377 SH SHARED 1, 2, 3 709,377 NOBLE CORPORATION SHS G65422100 37,723 386,825 SH SHARED 1, 2, 3 386,825 NETFLIX INC COM 64110L106 5,003 258,000 SH SHARED 1, 2, 3 258,000 OWENS & MINOR INC NEW COM 690732102 699 20,000 SH SHARED 1, 2, 3 20,000 ODYSSEY MARINE EXPLORATION I COM 676118102 3,005 500,000 SH SHARED 1, 2, 3 500,000 ORACLE CORP COM 68389X105 5,913 300,000 SH SHARED 1, 2, 3 300,000 POTASH CORP SASK INC COM 73755L107 3,119 40,000 SH SHARED 1, 2, 3 40,000 RESOURCE AMERICA INC CL A 761195205 10,776 522,839 SH SHARED 1, 2, 3 522,839 TRANSOCEAN INC ORD G90078109 111,758 1,054,524 SH SHARED 1, 2, 3 1,054,524 COMPANHIA VALE DO RIO DOCE SPONSORED ADR 204412209 11,026 247,500 SH SHARED 1, 2, 3 247,500 COMPANHIA VALE DO RIO DOCE SPON ADR PFD 204412100 27,144 720,000 SH SHARED 1, 2, 3 720,000 RANGE RES CORP COM 75281A109 22,864 611,165 SH SHARED 1, 2, 3 611,165 RTI INTL METALS INC COM 74973W107 84,260 1,117,949 SH SHARED 1, 2, 3 1,117,949 SBA COMMUNICATIONS CORP COM 78388J106 32,119 956,211 SH SHARED 1, 2, 3 956,211 STANDARD PAC CORP NEW COM 85375C101 9,279 529,300 SH SHARED 1, 2, 3 529,300 SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 1,442 40,000 SH SHARED 1, 2, 3 40,000 SPDR TR UNIT SER 1 78462F103 15,043 100,000 SH SHARED 1, 2, 3 100,000 STEEL DYNAMICS INC COM 858119100 3,542 84,522 SH SHARED 1, 2, 3 84,522 SOUTHERN UN CO NEW COM 844030106 652 20,000 SH SHARED 1, 2, 3 20,000 TRANSDIGM GROUP INC COM 893641100 34,565 854,300 SH SHARED 1, 2, 3 854,300 ULTRAPETROL BAHAMAS LTD COM P94398107 19,039 803,342 SH SHARED 1, 2, 3 803,342 UNITEDHEALTH GROUP INC COM 91324P102 7,160 140,000 SH SHARED 1, 2, 3 140,000 UNITED TECHNOLOGIES CORP COM 913017109 100,550 1,417,600 SH SHARED 1, 2, 3 1,417,600 VALASSIS COMMUNICATIONS INC COM 918866104 10,244 595,900 SH SHARED 1, 2, 3 595,900 VULCAN MATLS CO COM 929160109 56,095 489,741 SH SHARED 1, 2, 3 489,741 VERASUN ENERGY CORP COM 92336G106 2,094 144,600 SH SHARED 1, 2, 3 144,600 WELLPOINT INC COM 94973V107 30,423 381,100 SH SHARED 1, 2, 3 381,100 WASTE MGMT INC DEL COM 94106L109 12,106 310,000 SH SHARED 1, 2, 3 310,000 WASHINGTON GROUP INTL INC COM NEW 938862208 12,002 150,000 SH SHARED 1, 2, 3 150,000 WHEELING PITTSBURGH CORP COM NEW 963142302 4,356 228,901 SH SHARED 1, 2, 3 228,901 YAHOO INC COM 984332106 21,608 796,476 SH SHARED 1, 2, 3 796,476

SK 01181 0005 800446