13F-HR 1 d851927_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, 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 February 14, 2008 ----------------------- -------------------------- ---------------------- [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: 79 Form 13F Information Table Value Total: $1,626,581 (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: Item 6: Item 7: Item 8: Name of Issuer Title of CUSIP Fair Market Shares or Investment Managers Voting Authority (Shares) Class Number Value Principal Discretion Sole Shared None (thousands) Amount AES CORP COM 00130H105 3,209 150,000 SH 1, 2, 3 150,000 ACTIVISION INC NEW COM NEW 004930202 4,455 150,000 SH 1, 2, 3 150,000 ADVANCE AUTO PARTS INC COM 00751Y106 11,450 301,400 SH 1, 2, 3 301,400 AGRIUM INC COM 008916108 3,611 50,000 SH 1, 2, 3 50,000 ALCOA INC COM 013817101 34,025 930,930 SH 1, 2, 3 930,930 AMERICAN EXPRESS CO COM 025816109 14,566 280,000 SH 1, 2, 3 280,000 AMERICAN TOWER CORP CL A 029912201 114,745 2,693,549 SH 1, 2, 3 2,693,549 ANADARKO PETE CORP COM 032511107 10,083 153,500 SH 1, 2, 3 153,500 APACHE CORP COM 037411105 11,647 108,300 SH 1, 2, 3 108,300 ARACRUZ CELULOSE S A SPON ADR PFD B 038496204 1,487 20,000 SH 1, 2, 3 20,000 ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 16,946 219,077 SH 1, 2, 3 219,077 ARCH COAL INC COM 039380100 2,247 50,000 SH 1, 2, 3 50,000 ARVINMERITOR INC COM 043353101 235 20,000 SH 1, 2, 3 20,000 ATLAS AMER INC COM 049167109 147,490 2,492,230 SH 1, 2, 3 2,492,230 ATLAS ENERGY RESOURCES LLC COM 049303100 96,221 3,094,930 SH 1, 2, 3 3,094,930 ATLAS PIPELINE HOLDINGS LP COM UNITS LP 04939R108 2,878 105,600 SH 1, 2, 3 105,600 ATLAS PIPELINE PARTNERS LP UNIT L P INT 049392103 31,848 775,581 SH 1, 2, 3 775,581 BIG LOTS INC COM 089302103 5,134 321,100 SH 1, 2, 3 321,100 CF INDS HLDGS INC COM 125269100 14,451 131,300 SH 1, 2, 3 131,300 CSX CORP COM 126408103 4,398 100,000 SH 1, 2, 3 100,000 CVS CAREMARK CORPORATION COM 126650100 3,328 83,725 SH 1, 2, 3 83,725 CABOT OIL & GAS CORP COM 127097103 57,701 1,429,300 SH 1, 2, 3 1,429,300 CARDINAL HEALTH INC COM 14149Y108 23,376 404,780 SH 1, 2, 3 404,780 CENTURY ALUM CO COM 156431108 70,395 1,305,061 SH 1, 2, 3 1,305,061 CISCO SYS INC COM 17275R102 5,414 200,000 SH 1, 2, 3 200,000 CLEVELAND CLIFFS INC COM 185896107 10,080 100,000 SH 1, 2, 3 100,000 COMPANHIA VALE DO RIO DOCE SPON ADR PFD 204412100 92,282 3,298,149 SH 1, 2, 3 3,298,149 CONSOL ENERGY INC COM 20854P109 20,219 282,700 SH 1, 2, 3 282,700 CROWN HOLDINGS INC COM 228368106 80,503 3,138,525 SH 1, 2, 3 3,138,525 DAVITA INC COM 23918K108 3,663 65,000 SH 1, 2, 3 65,000 DOMTAR CORP COM 257559104 14,419 1,875,000 SH 1, 2, 3 1,875,000 ENERGY CONVERSION DEVICES IN COM 292659109 832 24,713 SH 1, 2, 3 24,713 ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 2,155 40,000 SH 1, 2, 3 40,000 FREEPORT-MCMORAN COPPER & GO COM 35671D857 11,268 110,000 SH 1, 2, 3 110,000 GATX CORP COM 361448103 7,795 212,500 SH 1, 2, 3 212,500 GRAFTECH INTL LTD COM 384313102 21,326 1,201,489 SH 1, 2, 3 1,201,489 GRANT PRIDECO INC COM 38821G101 18,537 333,946 SH 1, 2, 3 333,946 HESS CORP COM 42809H107 4,034 40,000 SH 1, 2, 3 40,000 HOVNANIAN ENTERPRISES INC CL A 442487203 2,151 300,000 SH 1, 2, 3 300,000 HUMANA INC COM 444859102 5,272 70,000 SH 1, 2, 3 70,000 IHOP CORP COM 449623107 8,618 235,600 SH 1, 2, 3 235,600 INTEL CORP COM 458140100 2,666 100,000 SH 1, 2, 3 100,000 INTL PAPER CO COM 460146103 7,124 220,000 SH 1, 2, 3 220,000 JOY GLOBAL INC COM 481165108 12,063 183,268 SH 1, 2, 3 183,268 KKR FINANCIAL HLDGS LLC COM 48248A306 1,405 100,000 SH 1, 2, 3 100,000 LEAP WIRELESS INTL INC COM NEW 521863308 13,265 284,416 SH 1, 2, 3 284,416 LENNAR CORP CL A 526057104 895 50,000 SH 1, 2, 3 50,000 MGIC INVT CORP WIS COM 552848103 505 22,500 SH 1, 2, 3 22,500 NRG ENERGY INC COM NEW 629377508 63,905 1,474,500 SH 1, 2, 3 1,474,500 NATIONAL OILWELL VARCO INC COM 637071101 31,896 434,200 SH 1, 2, 3 434,200 NETFLIX INC COM 64110L106 11,862 445,587 SH 1, 2, 3 445,587 NOVATEL WIRELESS INC COM NEW 66987M604 810 50,000 SH 1, 2, 3 50,000 OCCIDENTAL PETE CORP DEL COM 674599105 101,642 1,320,200 SH 1, 2, 3 1,320,200 ORACLE CORP COM 68389X105 4,077 180,578 SH 1, 2, 3 180,578 OWENS ILL INC COM NEW 690768403 1,224 24,737 SH 1, 2, 3 24,737 PMI GROUP INC COM 69344M101 1,992 150,000 SH 1, 2, 3 150,000 PACTIV CORP COM 695257105 9,920 372,500 SH 1, 2, 3 372,500 PULTE HOMES INC COM 745867101 1,054 100,000 SH 1, 2, 3 100,000 QUEST DIAGNOSTICS INC COM 74834L100 17,298 326,985 SH 1, 2, 3 326,985 RTI INTL METALS INC COM 74973W107 14,582 211,549 SH 1, 2, 3 211,549 REGAL ENTMT GROUP CL A 758766109 4,429 245,100 SH 1, 2, 3 245,100 RESOURCE AMERICA INC CL A 761195205 294 20,016 SH 1, 2, 3 20,016 SBA COMMUNICATIONS CORP COM 78388J106 13,451 397,493 SH 1, 2, 3 397,493 SLM CORP COM 78442P106 2,014 100,000 SH 1, 2, 3 100,000 STEEL DYNAMICS INC COM 858119100 7,008 117,644 SH 1, 2, 3 117,644 TALISMAN ENERGY INC COM 87425E103 31,775 1,715,700 SH 1, 2, 3 1,715,700 UAL CORP COM NEW 902549807 24,565 688,880 SH 1, 2, 3 688,880 UNION PAC CORP COM 907818108 22,021 175,296 SH 1, 2, 3 175,296 UNITED STATES STL CORP NEW COM 912909108 6,046 50,000 SH 1, 2, 3 50,000 UNITED TECHNOLOGIES CORP COM 913017109 32,779 428,264 SH 1, 2, 3 428,264 UNIVERSAL HLTH SVCS INC CL B 913903100 8,008 156,400 SH 1, 2, 3 156,400 VALASSIS COMMUNICATIONS INC COM 918866104 8,620 737,400 SH 1, 2, 3 737,400 WELLCARE HEALTH PLANS INC COM 94946T106 4,216 99,400 SH 1, 2, 3 99,400 WELLPOINT INC COM 94973V107 53,963 615,100 SH 1, 2, 3 615,100 INVESCO LTD SHS G491BT108 7,420 236,447 SH 1, 2, 3 236,447 SEAGATE TECHNOLOGY SHS G7945J104 29,917 1,173,200 SH 1, 2, 3 1,173,200 TRANSOCEAN INC NEW SHS G90073100 56,409 394,054 SH 1, 2, 3 394,054 QUINTANA MARITIME LTD SHS Y7169G109 6,073 264,284 SH 1, 2, 3 264,284 TEEKAY CORPORATION COM Y8564W103 14,899 280,000 SH 1, 2, 3 280,000

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