13F-HR 1 d525821_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 September 30, 2004 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: 28-04967 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 November 15, 2004 ----------------------- -------------------------- ---------------------- [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: No. Form 13F File Number Name None None Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 61 Form 13F Information Table Value Total: $1,152,057 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. 1. 28-10571 Cobalt Offshore Fund Limited 2. 28-10572 Cobalt Partners, L.P. ----------------------- ------------------------------------ FORM 13F INFORMATION TABLE

Fair (b) Shared - (c) Managers Market Sh or (a) As defined Shared- See (a) (b) (c) Name of Issuer Title of Class CUSIP Value Prn Amt Sole in Instr. V Other Instr. V Sole Shared None -------------- -------------- ----- ----- ------- ---- ----------- ----- -------- ---- ------ ---- Alliance Atlantis Communicat CLB NON VTG 01853E204 12,624 570,200 X 1 X Arch Coal Inc COM 039380100 1,775 50,000 X 1 X AES Corp COM 00130H105 5,944 595,000 X 1 X Affliated Managers Group COM 008252108 15,813 295,350 X 1 X America Movil S A DE CV Spon ADR L Shs 02364W105 9,758 250,000 X 1 X American Tower Corp COM 029912201 27,218 1,773,141 X 1 X Alamosa Hldgs Inc COM 011589108 3,245 424,693 X 1 X Atlas Pipeline Partners LP COM 049392103 2,752 71,900 X 1 X Anthem Inc COM 03674B104 58,676 672,500 X 1 X Atlas Amer Inc COM 049167109 1,602 73,593 X 1 X Activision Inc New COM 004930202 583 42,000 X 1 X Arch Wireless Inc CL A 039392709 15,505 539,675 X 1 X Bank of America Corporation COM 060505104 31,198 720,000 X 1 X Ball Corp COM 058498106 2,762 73,800 X 1 X Burlington Res Inc COM 122014103 37,678 923,482 X 1 X CIT Group Inc COM 125581108 24,442 653,700 X 1 X CSG Sys Intl COM 126349109 2,045 132,706 X 1 X Caesars Entmt Inc COM 127687101 835 50,000 X 1 X DirecTV Group Inc COM 25459L106 1,759 100,000 X 1 X Devon Energy Corp New COM 25179M103 30,023 422,800 X 1 X EOG Res Inc COM 26875P101 6,585 100,000 X 1 X Freeport McMoran Copper & Go CL B 35671D857 83,064 2,050,970 X 1 X Sprint Corp COM FON 852061100 36,939 1,835,000 X 1 X Fox Entmt Group Inc COM 35138T107 21,485 774,500 X 1 X Fisher Scientific Intl Inc COM 338032204 18,561 318,200 X 1 X Gatx Corp COM 361448103 5,897 221,200 X 1 X Goodyear Tire & Rubr Co COM 382550101 6,349 591,200 X 1 X Harrahs Entmt Inc COM 413619107 2,649 50,000 X 1 X KB Home COM 48666K109 28,084 332,400 X 1 X Kinder Morgan Inc Kans COM 49455P101 27,264 434,009 X 1 X Manpower Inc COM 56418H100 19,353 435,000 X 1 X MCI Inc COM 552691107 15,075 900,000 X 1 X Massey Energy Corp COM 576206106 23,303 805,500 X 1 X Molex Inc CL A 608554200 7,050 267,876 X 1 X Nabors Industries Ltd COM G6359F103 19,646 414,900 X 1 X NRG Energy Inc COM 629377508 7,799 289,500 X 1 X Nucor Corp COM 670346105 73,010 80,000 X 1 X Novellus Sys Inc COM 670008101 3,197 120,000 X 1 X News Corp Ltd SP ADR PFD 652487802 11,548 368,600 X 1 X Nextel Communications Inc CL A 65332V103 24,555 1,030,000 X 1 X Airgate PCS Inc COM 009367301 2,372 121,000 X 1 X Pride Intl Inc Del COM 74153Q102 19,032 961,700 X 1 X Pfizer Inc COM 717081103 3,060 100,000 X 1 X Pulte Homes Inc COM 745867101 114,549 1,866,528 X 1 X Pacificare Health Sys Inc COM 695112102 30,828 840,000 X 1 X Resource America Inc CL A 761195205 35,241 1,493,907 X 1 X Regal Entmt Group CL A 758766109 10,457 547,500 X 1 X Service Corp Intl COM 817565104 3,300 531,400 X 1 X Standard Pac Corp New COM 85375C101 21,449 380,508 X 1 X Spectrasite Inc COM 84761M104 83,695 1,799,900 X 1 X Telewest Global Inc COM 87956T107 8,004 688,781 X 1 X Toll Brothers Inc COM 889478103 9,729 210,000 X 1 X Hilfiger Tommy Corp Ord G8915Z102 987 100,000 X 1 X Time Warner Inc COM 887317105 1,614 100,000 X 1 X TXU Corp COM 873168108 21,348 445,500 X 1 X Tyco Intl Ltd New COM 902124106 4,599 150,000 X 1 X Union Pac Corp COM 907818108 3,873 66,100 X 1 X Valero Energy Corp New COM 91913Y100 35,421 441,600 X 1 X Vodafone Group Plc New Sponsored ADR 92857W100 11,122 461,300 X 1 X Washington Group Intl Inc Com New 938862208 3,367 97,270 X 1 X Wynn Resorts Ltd COM 983134107 360 6,971 X 1 X

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