13F-HR 1 d772395_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 March 31, 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 May 14, 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: 84 Form 13F Information Table Value Total: $1,818,369 (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

ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: VALUE SHRS OR SH/ PUT/ INVSMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (X 1,000) PRN AMT PRN CALL DSCRTN MNGRS SOLE SHARED NONE ALCOA INC COM 013817101 34,239 1,010,000 SHARED 1, 2 1,010,000 AMERIGROUP CORP COM 03073T102 4,958 163,100 SHARED 1, 2 163,100 AGRIUM INC COM 008916108 11,499 300,000 SHARED 1, 2 300,000 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 4,241 173,300 SHARED 1, 2 173,300 AMERICAN INTL GROUP INC COM 026874107 13,444 200,000 SHARED 1, 2 200,000 AMERICAN TOWER CORP CL A 029912201 96,099 2,467,249 SHARED 1, 2 2,467,249 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 41,745 873,500 SHARED 1, 2 873,500 ARBITRON INC COM 03875Q108 10,047 214,000 SHARED 1, 2 214,000 ALLEGHENY TECHNOLOGIES INC COM 01741R102 41,791 391,709 SHARED 1, 2 391,709 ATLAS AMER INC COM 049167109 84,336 1,492,944 SHARED 1, 2 1,492,944 AMERICAN AXLE & MFG HLDGS IN COM 024061103 2,735 100,000 SHARED 1, 2 100,000 ALLEGHENY ENERGY INC COM 017361106 5,897 120,000 SHARED 1, 2 120,000 BAXTER INTL INC COM 071813109 8,954 170,000 SHARED 1, 2 170,000 BURLINGTON NORTHN SANTA FE C COM 12189T104 67,609 840,600 SHARED 1, 2 840,600 BUSINESS OBJECTS S A SPONSORED ADR 12328X107 10,142 280,235 SHARED 1, 2 280,235 PEABODY ENERGY CORP COM 704549104 27,733 689,186 SHARED 1, 2 689,186 CARDINAL HEALTH INC COM 14149Y108 48,329 662,500 SHARED 1, 2 662,500 CATERPILLAR INC DEL COM 149123101 10,055 150,000 SHARED 1, 2 150,000 CROWN CASTLE INTL CORP COM 228227104 18,108 563,600 SHARED 1, 2 563,600 CROWN HOLDINGS INC COM 228368106 67,373 2,754,400 SHARED 1, 2 2,754,400 CANADIAN NATL RY CO COM 136375102 19,863 450,000 SHARED 1, 2 450,000 CONSOL ENERGY INC COM 20854P109 26,006 664,600 SHARED 1, 2 664,600 CSX CORP COM 126408103 6,008 150,000 SHARED 1, 2 150,000 CVS CORP COM 126650100 27,606 808,625 SHARED 1, 2 808,625 CNX GAS CORP COM 12618H309 4,250 150,000 SHARED 1, 2 150,000 DOBSON COMMUNICATIONS CORP CL A 256069105 4,295 500,000 SHARED 1, 2 500,000 DEERE & CO COM 244199105 13,580 125,000 SHARED 1, 2 125,000 DOMINOS PIZZA INC COM 25754A201 9,741 300,000 SHARED 1, 2 300,000 ENERGY CONVERSION DEVICES IN COM 292659109 894 25,573 SHARED 1, 2 25,573 ERICSSON L M TEL CO ADR B SEK 10 294821608 1,484 40,000 SHARED 1, 2 40,000 EAGLE MATERIALS INC COM 26969P108 5,449 122,100 SHARED 1, 2 122,100 FREEPORT-MCMORAN COPPER & GO CL B 35671D857 2,270 34,300 SHARED 1, 2 34,300 STREETTRACKS GOLD TR GOLD SHS 863307104 39,444 600,000 SHARED 1, 2 600,000 CORNING INC COM 219350105 14,299 628,800 SHARED 1, 2 628,800 GATX CORP COM 361448103 10,573 221,200 SHARED 1, 2 221,200 GOL LINHAS AEREAS INTLG S A SP ADR REP PFD 38045R107 1,217 40,000 SHARED 1, 2 40,000 GRANT PRIDECO INC COM 38821G101 21,930 440,000 SHARED 1, 2 440,000 GLOBALSANTAFE CORP SHS G3930E101 44,058 714,300 SHARED 1, 2 714,300 GOODYEAR TIRE & RUBR CO COM 382550101 12,164 390,000 SHARED 1, 2 390,000 HALLIBURTON CO COM 406216101 13,090 412,400 SHARED 1, 2 412,400 HARSCO CORP COM 4158664107 17,289 385,400 SHARED 1, 2 385,400 KOMAG INC COM NEW 500453204 3,273 100,000 SHARED 1, 2 100,000 LIBERTY MEDIA HLDG CORP CAP COM SER A 53071M302 31,983 289,204 SHARED 1, 2 289,204 LEAR CORP COM 521865105 7,574 207,450 SHARED 1, 2 207,450 ACCREDITED HOME LENDRS HLDG COM 00437P107 742 80,000 SHARED 1, 2 80,000 CHENIERE ENERGY INC COM NEW 16411R208 623 20,000 SHARED 1, 2 20,000 LIFEPOINT HOSPITALS INC COM 53219L109 1,911 50,000 SHARED 1, 2 50,000 LSI LOGIC CORP COM 502161102 1,044 100,000 SHARED 1, 2 100,000 MARTIN MARIETTA MATLS INC COM 573284106 6,719 49,700 SHARED 1, 2 49,700 3M CO COM 88579Y101 13,933 182,300 SHARED 1, 2 182,300 ARCELOR MITTAL NY REG SHS CL A 03937E101 61,104 1,155,300 SHARED 1, 2 1,155,300 NOBLE CORPORATION SHS G65422100 41,451 526,825 SHARED 1, 2 526,825 NETFLIX COM INC COM 64110L106 7,189 310,000 SHARED 1, 2 310,000 NATIONAL OILWELL VARCO INC COM 637071101 41,180 529,375 SHARED 1, 2 529,375 NORFOLK SOUTHERN CORP COM 655844108 10,120 200,000 SHARED 1, 2 200,000 NAVTEQ CORP COM 63936L100 9,206 266,846 SHARED 1, 2 266,846 NEWS CORP CL A 65248E104 40,312 1,743,600 SHARED 1, 2 1,743,600 ORACLE CORP COM 68389X105 17,405 960,000 SHARED 1, 2 960,000 PINNACLE AIRL CORP COM 723443107 3,435 198,678 SHARED 1, 2 198,678 QUALCOMM INC COM 747525103 13,225 310,000 SHARED 1, 2 310,000 ROWAN COS INC COM 779382100 8,118 250,000 SHARED 1, 2 250,000 RESOURCE AMERICA INC CL A 761195205 16,516 698,962 SHARED 1, 2 698,962 TRANSOCEAN INC ORD G90078109 99,460 1,217,384 SHARED 1, 2 1,217,384 COMPANHIA VALE DO RIO DOCE SPONSORED ADR 204412209 31,978 864,500 SHARED 1, 2 864,500 COMPANHIA VALE DO RIO DOCE SPON ADR PFD 204412100 19,394 620,000 SHARED 1, 2 620,000 RANGE RES CORP COM 75281A109 8,350 250,000 SHARED 1, 2 250,000 RTI INTL METALS INC COM 74973W107 50,364 553,393 SHARED 1, 2 553,393 SBA COMMUNICATIONS CORP COM 78388J106 31,470 1,064,958 SHARED 1, 2 1,064,958 SANDISK CORP COM 80004C101 1,314 30,000 SHARED 1, 2 30,000 STANDARD PAC CORP NEW COM 85375C101 3,757 180,000 SHARED 1, 2 180,000 STEEL DYNAMICS INC COM 858119100 34,368 795,565 SHARED 1, 2 795,565 SUNOCO INC COM 86764P109 21,132 300,000 SHARED 1, 2 300,000 TESORO CORP COM 881609101 23,099 230,000 SHARED 1, 2 230,000 TWEEN BRANDS INC COM 901166108 6,251 175,000 SHARED 1, 2 175,000 ULTRAPETROL BAHAMAS LTD COM P94398107 4,910 292,600 SHARED 1, 2 292,600 UNITEDHEALTH GROUP INC COM 91324P102 17,003 321,000 SHARED 1, 2 321,000 UNITED TECHNOLOGIES CORP COM 913017109 81,094 1,247,600 SHARED 1, 2 1,247,600 VALASSIS COMMUNICATIONS INC COM 918866104 10,235 595,400 SHARED 1, 2 595,400 VULCAN MATLS CO COM 929160109 59,445 510,341 SHARED 1, 2 510,341 VERASUN ENERGY CORP COM 92336G106 2,873 144,600 SHARED 1, 2 144,600 WELLPOINT INC COM 94973V107 35,976 443,600 SHARED 1, 2 443,600 WHEELING PITTSBURGH CORP COM NEW 963142302 4,501 190,000 SHARED 1, 2 190,000 XM SATELLITE RADIO HLDGS INC CL A 983759101 3,521 272,534 SHARED 1, 2 272,534 XTO ENERGY INC COM 98385X106 25,969 473,800 SHARED 1, 2 473,800

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