13F-HR 1 d1066876_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 December 31, 2009 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 February 12, 2010 ----------------------- -------------------------- ---------------------- [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: 89 Form 13F Information Table Value Total: $1,850,752 (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. 028-13397 Cobalt Offshore Master Fund LP* 2. 028-10572 Cobalt Partners, L.P. 3. 028-12326 Cobalt Partners II, L.P. ----------------------- ------------------------------------ *Cobalt Offshore Master Fund LP ("COMF") is the successor to all Section 13(f) securities previously held by Cobalt Offshore Fund Limited (Form 13F File Number: 028-10571; CIK: 0001071570) ("COF"). As a result, COMF has succeeded to the Form 13F filing obligations of COF. FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 VALUE SHS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MGRS SOLE SHARED NONE -------------- -------------- ----- -------- ------- --- ---- ---------- ---- ---- ------ ---- ACE LTD COM H0023R105 53,225 1,056,050 SH SHARED-DEFINED 1, 2, 3 1,056,050 ADVANCED MICRO DEVICES INC NOTE 5.750% 8/1 007903AN7 28,556 29,000,000 PRN SHARED-DEFINED 1, 2, 3 29,000,000 AMERICAN TOWER CORP CL A 029912201 12,793 296,070 SH SHARED-DEFINED 1, 2, 3 296,070 AMERICAN TOWER CORP NOTE 5.000% 2/1 029912AF9 3,805 3,805,000 PRN SHARED-DEFINED 1, 2, 3 3,805,000 APACHE CORP COM 037411105 47,561 461,000 SH SHARED-DEFINED 1, 2, 3 461,000 APOLLO GROUP INC CL A 037604105 19,224 317,334 SH SHARED-DEFINED 1, 2, 3 317,334 APOLLO INVT CORP COM 03761U106 12,659 1,326,889 SH SHARED-DEFINED 1, 2, 3 1,326,889 APPLE INC COM 037833100 4,215 20,000 SH SHARED-DEFINED 1, 2, 3 20,000 ARVINMERITOR INC COM 043353101 26,923 2,408,159 SH SHARED-DEFINED 1, 2, 3 2,408,159 ATLAS ENERGY INC COM 049298102 123,828 4,108,435 SH SHARED-DEFINED 1, 2, 3 4,108,435 AUTOZONE INC COM 053332102 19,183 121,360 SH SHARED-DEFINED 1, 2, 3 121,360 BANK OF AMERICA CORPORATION COM 060505104 10,542 700,000 SH SHARED-DEFINED 1, 2, 3 700,000 BARRETT BILL CORP NOTE 5.000% 3/1 06846NAA2 2,888 3,000,000 PRN SHARED-DEFINED 1, 2, 3 3,000,000 BURLINGTON NORTHN SANTA FE C COM 12189T104 9,862 100,000 SH SHARED-DEFINED 1, 2, 3 100,000 CABOT OIL & GAS CORP COM 127097103 5,667 130,000 SH SHARED-DEFINED 1, 2, 3 130,000 CENTURY ALUM CO COM 156431108 48,992 3,026,084 SH SHARED-DEFINED 1, 2, 3 3,026,084 CF INDS HLDGS INC COM 125269100 26,285 289,546 SH SHARED-DEFINED 1, 2, 3 289,546 CHESAPEAKE ENERGY CORP COM 165167107 10,352 400,000 SH SHARED-DEFINED 1, 2, 3 400,000 CHEVRON CORP NEW COM 166764100 32,336 420,000 SH SHARED-DEFINED 1, 2, 3 420,000 CINEMARK HOLDINGS INC COM 17243V102 2,874 200,000 SH SHARED-DEFINED 1, 2, 3 200,000 COCA COLA ENTERPRISES INC COM 191219104 9,628 454,155 SH SHARED-DEFINED 1, 2, 3 454,155 COMPUTER SCIENCES CORP COM 205363104 3,452 60,000 SH SHARED-DEFINED 1, 2, 3 60,000 CROWN CASTLE INTL CORP COM 228227104 84,487 2,164,106 SH SHARED-DEFINED 1, 2, 3 2,164,106 CROWN HOLDINGS INC COM 228368106 30,836 1,205,485 SH SHARED-DEFINED 1, 2, 3 1,205,485 CSX CORP COM 126408103 9,994 206,097 SH SHARED-DEFINED 1, 2, 3 206,097 CVS CAREMARK CORPORATION COM 126650100 24,013 745,525 SH SHARED-DEFINED 1, 2, 3 745,525 DANA HOLDING CORP COM 235825205 26,776 2,470,100 SH SHARED-DEFINED 1, 2, 3 2,470,100 DECKERS OUTDOOR CORP COM 243537107 2,034 20,000 SH SHARED-DEFINED 1, 2, 3 20,000 DEVELOPERS DIVERSIFIED RLTY NOTE 3.500% 8/1 251591AQ6 22,413 23,500,000 PRN SHARED-DEFINED 1, 2, 3 23,500,000 DEVELOPERS DIVERSIFIED RLTY NOTE 3.000% 3/1 251591AS2 13,387 14,700,000 PRN SHARED-DEFINED 1, 2, 3 14,700,000 DEVON ENERGY CORP NEW COM 25179M103 45,570 620,000 SH SHARED-DEFINED 1, 2, 3 620,000 DOMTAR CORP COM NEW 257559203 45,066 813,325 SH SHARED-DEFINED 1, 2, 3 813,325 E TRADE FINANCIAL CORP COM 269246104 4,345 2,469,000 SH SHARED-DEFINED 1, 2, 3 2,469,000 EAGLE BULK SHIPPING INC COM Y2187A101 2,431 491,100 SH SHARED-DEFINED 1, 2, 3 491,100 ENCORE ACQUISITION CO COM 29255W100 32,351 673,698 SH SHARED-DEFINED 1, 2, 3 673,698 ENERGY XXI (BERMUDA) LTD COM SHS G10082108 3,325 1,439,300 SH SHARED-DEFINED 1, 2, 3 1,439,300 FIDELITY NATIONAL FINANCIAL CL A 31620R105 9,305 691,275 SH SHARED-DEFINED 1, 2, 3 691,275 FORESTAR GROUP INC COM 346233109 3,105 141,262 SH SHARED-DEFINED 1, 2, 3 141,262 GOLDMAN SACHS GROUP INC COM 38141G104 52,340 310,000 SH SHARED-DEFINED 1, 2, 3 310,000 GOODYEAR TIRE & RUBR CO COM 382550101 7,364 522,270 SH SHARED-DEFINED 1, 2, 3 522,270 GRAFTECH INTL LTD COM 384313102 34,545 2,221,553 SH SHARED-DEFINED 1, 2, 3 2,221,553 HESS CORP COM 42809H107 32,724 540,900 SH SHARED-DEFINED 1, 2, 3 540,900 INGERSOLL-RAND PLC SHS G47791101 8,310 232,500 SH SHARED-DEFINED 1, 2, 3 232,500 INTEL CORP COM 458140100 11,081 543,200 SH SHARED-DEFINED 1, 2, 3 543,200 INTERNET BRANDS INC COM CLASS A 460608102 1,044 133,300 SH SHARED-DEFINED 1, 2, 3 133,300 INTL PAPER CO COM 460146103 49,730 1,857,000 SH SHARED-DEFINED 1, 2, 3 1,857,000 JPMORGAN CHASE & CO COM 46625H100 55,304 1,327,200 SH SHARED-DEFINED 1, 2, 3 1,327,200 KAR AUCTION SVCS INC COM 48238T109 1,931 140,000 SH SHARED-DEFINED 1, 2, 3 140,000 KKR FINANCIAL HLDGS LLC COM 48248A306 37,321 6,434,704 SH SHARED-DEFINED 1, 2, 3 6,434,704 KKR FINANCIAL HLDGS LLC NOTE 7.000% 7/1 48248AAB4 24,002 25,983,000 PRN SHARED-DEFINED 1, 2, 3 25,983,000 LEAR CORP COM NEW 521865204 44,545 658,563 SH SHARED-DEFINED 1, 2, 3 658,563 LINCOLN NATL CORP IND COM 534187109 25,426 1,021,928 SH SHARED-DEFINED 1, 2, 3 1,021,928 LOWES COS INC COM 548661107 16,385 700,500 SH SHARED-DEFINED 1, 2, 3 700,500 MASTERCARD INC CL A 57636Q104 38,985 152,296 SH SHARED-DEFINED 1, 2, 3 152,296 METROPCS COMMUNICATIONS INC COM 591708102 16,225 2,126,492 SH SHARED-DEFINED 1, 2, 3 2,126,492 MFA FINANCIAL INC COM 55272X102 6,224 846,753 SH SHARED-DEFINED 1, 2, 3 846,753 MICRON TECHNOLOGY INC COM 595112103 3,168 300,000 SH SHARED-DEFINED 1, 2, 3 300,000 MONSANTO CO NEW COM 61166W101 1,635 20,000 SH SHARED-DEFINED 1, 2, 3 20,000 NAVISTAR INTL CORP NEW COM 63934E108 32,829 849,400 SH SHARED-DEFINED 1, 2, 3 849,400 NBT BANCORP INC COM 628778102 4,222 207,268 SH SHARED-DEFINED 1, 2, 3 207,268 NBTY INC COM 628782104 7,991 183,524 SH SHARED-DEFINED 1, 2, 3 183,524 NOBLE CORPORATION BAAR NAMEN -AKT H5833N103 24,597 604,356 SH SHARED-DEFINED 1, 2, 3 604,356 PALL CORP COM 696429307 724 20,000 SH SHARED-DEFINED 1, 2, 3 20,000 PENN VA CORP NOTE 4.500%11/1 707882AA4 19,026 20,000,000 PRN SHARED-DEFINED 1, 2, 3 20,000,000 POTASH CORP SASK INC COM 73755L107 3,255 30,000 SH SHARED-DEFINED 1, 2, 3 30,000 PROLOGIS NOTE 2.250% 4/0 743410AQ5 12,971 14,000,000 PRN SHARED-DEFINED 1, 2, 3 14,000,000 PROSHARES TR PSHS ULTSH 20YRS 74347R297 30,926 620,000 SH SHARED-DEFINED 1, 2, 3 620,000 RADIAN GROUP INC COM 750236101 1,462 200,000 SH SHARED-DEFINED 1, 2, 3 200,000 RANGE RES CORP COM 75281A109 6,979 140,000 SH SHARED-DEFINED 1, 2, 3 140,000 REGAL ENTMT GROUP CL A 758766109 1,444 100,000 SH SHARED-DEFINED 1, 2, 3 100,000 RETAIL VENTURES INC COM 76128Y102 445 50,000 SH SHARED-DEFINED 1, 2, 3 50,000 SCHWEITZER-MAUDUIT INTL INC COM 808541106 8,286 117,783 SH SHARED-DEFINED 1, 2, 3 117,783 SILVER WHEATON CORP COM 828336107 22,455 1,495,000 SH SHARED-DEFINED 1, 2, 3 1,495,000 SLM CORP COM 78442P106 8,166 724,601 SH SHARED-DEFINED 1, 2, 3 724,601 SPDR GOLD TRUST GOLD SHS 78463V107 40,264 375,213 SH SHARED-DEFINED 1, 2, 3 375,213 STEEL DYNAMICS INC COM 858119100 3,544 200,000 SH SHARED-DEFINED 1, 2, 3 200,000 TEMPLE INLAND INC COM 879868107 8,972 425,000 SH SHARED-DEFINED 1, 2, 3 425,000 TENNECO INC COM 880349105 10,317 581,917 SH SHARED-DEFINED 1, 2, 3 581,917 TERRA INDS INC COM 880915103 12,110 376,200 SH SHARED-DEFINED 1, 2, 3 376,200 THERMO FISHER SCIENTIFIC INC COM 883556102 967 20,282 SH SHARED-DEFINED 1, 2, 3 20,282 TIME WARNER CABLE INC COM 88732J207 12,417 300,000 SH SHARED-DEFINED 1, 2, 3 300,000 TRANSOCEAN LTD REG SHS H8817H100 65,657 792,954 SH SHARED-DEFINED 1, 2, 3 792,954 TYCO INTERNATIONAL LTD SHS H89128104 8,920 250,000 SH SHARED-DEFINED 1, 2, 3 250,000 UAL CORP NOTE 4.500% 6/3 902549AH7 28,400 32,000,000 SH SHARED-DEFINED 1, 2, 3 32,000,000 UNION PAC CORP COM 907818108 27,247 426,400 SH SHARED-DEFINED 1, 2, 3 426,400 VALE S A ADR REPSTG PFD 91912E204 39,712 1,600,000 SH SHARED-DEFINED 1, 2, 3 1,600,000 VISA INC COM CL A 92826C839 16,827 192,400 SH SHARED-DEFINED 1, 2, 3 192,400 WALTER ENERGY INC COM 93317Q105 7,358 97,700 SH SHARED-DEFINED 1, 2, 3 97,700 XTO ENERGY INC COM 98385X106 39,685 852,883 SH SHARED-DEFINED 1, 2, 3 852,883

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