<PAGE>
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, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings
entries.
Institutional Investment Manager Filing this Report:
Name: Cobalt Capital Management, Inc.
Address: 237 Park Avenue, Suite 801
New York, New York 10017
Form 13F File Number: 28-
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, 1999
[Signature] [City, State] [Date]
<PAGE>
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 manager(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:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-
[Repeat as necessary.]
2
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 60
Form 13F Information Table Value Total: $156,409,533
The Institutional Investment Manager has requested confidential
treatment for certain positions, which are omitted from this
report and are being filed separately with the Securities and
Exchange Commission.
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.
[If there are no entries in this list, state "NONE" and omit the
column headings and list entries.]
No. Form 13F File Number Name
1 28- Wayne Cooperman
[Repeat as necessary.]
3
<PAGE>
<TABLE>
COBALT CAPITAL MANAGEMENT, INC.
AS OF SEPTEMBER 30, 1999
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
------ ------ ------ ------ ------ ------ ------ ------
INVESTMENT DISCRETION VOTING AUTHORITY
(b) (SHARES)
FAIR SHARED (c)
TITLE CUSIP MARKET SHRS OR (a) AS DEFINED SHARED- MANAGERS (a) (b) (c)
NAME OF ISSUER OF CLASS NUMBER VALUE PRN AMT SOLE IN INSTR. V OTHER SEE INSTR. V SOLE SHARED NONE
- -------------- -------- ------ ------ ------- ---- ----------- ----- ------------ ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Scottish Annunity
& Life Holdings
Ltd Common G7885T104 858,000 88,000 X 1 X
Creative
Technology Ltd Common Y1775U107 425,000 40,000 X 1 X
AMC Entertainment
Inc Common 001669100 868,307 62,300 X 1 X
Advo Inc. Common 007585102 2,448,325 122,800 X 1 X
Advanta Corp
- Class B Common 007942204 8,933,525 760,300 X 1 X
Align-Rite
International Common 016251100 425,163 22,600 X 1 X
Amerisource
Health Corp Common 03071P102 1,923,425 81,200 X 1 X
Anthracite
Capital Inc Common 037023108 1,590,188 231,300 X 1 X
Apria Healthcare
Group Common 037933108 5,567,700 332,400 X 1 X
Bally's Total
Fitness Hldgs Common 05873K108 8,698,088 284,600 X 1 X
Bank of America
Corp Common 060505104 1,670,626 30,000 X 1 X
Barr Laboratories Common 068306109 635,000 20,000 X 1 X
Cabletron
Systems Inc Common 126920107 2,196,250 140,000 X 1 X
Cellstar Corp Common 150925105 187,500 25,000 X 1 X
Childrens Place
Retail Stores Common 168905107 213,001 8,000 X 1 X
Coinmach Laundry
Corp Common 19259L101 1,843,725 189,100 X 1 X
Columbia/HCA
Healthcare Corp Common 197677107 2,214,094 104,500 X 1 X
Crestline Capital
Corp Common 226153104 6,662,250 324,000 X 1 X
Data General Corp Common 237688106 2,106,250 100,000 X 1 X
4
<PAGE>
Dupont Photomasks
Inc Common 26613X101 2,726,901 59,200 X 1 X
Fortune Brand Inc Common 349631101 645,000 20,000 X 1 X
Hughes Electronics
Corp. Common 370442832 2,290,000 40,000 X 1 X
Grand Union Co Common 386532402 5,381,928 394,100 X 1 X
IDT Corp Common 448947101 418,750 20,000 X 1 X
Infinity
Broadcasting Corp Common 45662S102 2,345,000 80,000 X 1 X
Insignia Financial
Group Inc Common 45767A105 791,867 90,499 X 1 X
Jackpot Enterprises
Inc Common 466392107 943,250 107,800 X 1 X
Johns Manville Corp Common 478129109 1,383,375 105,400 X 1 X
Jones Apparel Group Common 480074103 3,441,289 119,697 X 1 X
Kaufman & Broad
Home Corp Common 486168107 7,796,250 378,000 X 1 X
LNR Property Corp Common 501940100 14,025,926 688,389 X 1 X
Lodgenet Entertainment
Corp Common 540211109 260,000 20,000 X 1 X
MCM Capital Group Inc Common 55269B105 361,000 76,000 X 1 X
Meristar Hotels &
Resorts Inc Common 589988104 686,788 233,800 X 1 X
National Equipment
Services Inc Common 635847106 507,338 49,800 X 1 X
Niagra Mohawk
Holdings Inc Common 653520106 2,178,750 140,000 X 1 X
Nordstrom Inc Common 655664100 405,000 15,000 X 1 X
Panera Bread Co Common 69840W108 4,113,463 620,900 X 1 X
Pepsi Bottling
Group Inc Common 713409100 981,094 57,500 X 1 X
Players International
Inc Common 727903106 814,687 110,000 X 1 X
Ralph Lauren Corp Common 731572103 1,668,188 93,000 X 1 X
Prime Hospitality
Corp Common 741917108 2,746,216 343,277 X 1 X
Quest Diagnostic Common 74834L100 1,580,800 60,800 X 1 X
RFS Hotel
Investors Inc Common 74955J108 425,500 37,000 X 1 X
Renal Care Group Inc Common 759930100 427,172 19,500 X 1 X
Republic Services Inc Common 760759100 5,115,601 470,400 X 1 X
Resource America Inc Common 761195205 2,476,688 333,000 X 1 X
Resource Assets
Investment Trust Common 761196104 2,894,726 260,200 X 1 X
Reynolds Metals Co Common 761763101 2,415,000 40,000 X 1 X
Ryders Systems Inc Common 783549108 1,222,500 60,000 X 1 X
Station Casinos Inc Common 857689103 1,060,200 45,600 X 1 X
Suiza Foods Corp Common 865077101 10,848,750 289,300 X 1 X
5
<PAGE>
Sunrise Assisted
Living Inc Common 86768K106 292,187 11,000 X 1 X
Sunstone Hotel
Investors Common 867933103 350,000 40,000 X 1 X
Telephone & Data
Systems Inc Common 879433100 7,549,063 85,000 X 1 X
Total Renal Care
Holdings Common 89151A107 1,013,731 136,300 X 1 X
Triad Hospital Inc Common 89579K109 911,250 90,000 X 1 X
Tricon Global
Restaurants Inc Common 895953107 4,093,750 100,000 X 1 X
UnitedGolbalCom Inc Common 913247508 6,711,263 93,700 X 1 X
Unitrin Inc Common 913275103 642,875 18,500 X 1 X
COLUMN TOTALS 156,409,533
</TABLE>
6
01181001.ap4
