<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: June 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, NY 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, NY August 16, 1999
__________________ _______________ _______________
[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.)
<PAGE>
[ ] 13F NOTICE. (Check her if no holdings reported are in
this report, and all holdings are reported by other
reporting manger(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: 56
Form 13F Information Table Value Total: $183,234
[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.
[If there are no entries in this list, state "NONE" and omit the
column headings and list entries.]
No. Form 13F File Number Name
28-
1. Wayne Cooperman
[Repeat as necessary.]
3
<PAGE>
<TABLE>
Form 13F INFORMATION TABLE
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
--------- -------- -------- -------- -------- --------- -------- --------
INVESTMENT DISCRETION VOTING AUTHORITY
FAIR (c)
TITLE CUSIP MARKET SHRS OR SH/ PUT/ (a) (b) SHARED OTHER (a) (b) (c)
NAME OF ISSUER OF CLASS NUMBER VALUE PRN AMT PRN CALL SOLE SHARED OTHER MANAGERS SOLE SHARED NONE
- -------------- -------- ------ ------ ------- --- ---- ---- ------ ------ -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Loral Space &
Communications Common G56462107 4,320,000 240,000 SH X 1 X
AMC Entertainment
Inc Common 001669100 1,324,400 68,800 SH X 1 X
Adminstaff Inc Common 007094105 1,568,000 98,000 SH X 1 X
Advo Inc. Common 007585102 2,278,350 109,800 SH X 1 X
Advanta Corp -
Class B Common 007942204 10,095,925 744,400 SH X 1 X
Anthracite Capital
Inc Common 037023108 1,255,406 191,300 SH X 1 X
Apria Healthcare
Group Common 037933108 5,234,300 307,900 SH X 1 X
Bally's Total
Fitness Common 05873K108 10,266,075 361,800 SH X 1 X
Cabletron Systems
Inc Common 126920107 468,000 36,000 SH X 1 X
Caribiner
International Inc Common 141888107 1,175,007 189,900 SH X 1 X
Citizens Uitility Common 177342201 667,500 60,000 SH X 1 X
Coinmach Laundry
Corp Common 19259L101 2,729,082 215,100 SH X 1 X
Convergys Corp Common 212485106 1,040,438 53,700 SH X 1 X
Crestline Capital
Corp Common 226153104 12,713,612 756,200 SH X 1 X
Cytec Industries
Inc Common 232820100 630,000 20,000 SH X 1 X
Donaldson Lufkin
& Jenrette Common 257661108 2,410,000 40,000 SH X 1 X
ETEC Systems Inc Common 26922C103 315,875 9,500 SH X 1 X
Galileo
International Inc Common 363547100 9,084,375 170,000 SH X 1 X
General Motors
Corp Common 370442105 3,960,000 60,000 SH X 1 X
Grand Union Co Common 386532402 2,898,831 268,100 SH X 1 X
Hilton Hotels Corp Common 432848109 283,750 20,000 SH X 1 X
Humana Inc Common 444859102 258,750 20,000 SH X 1 X
IMS Health Inc Common 449934108 625,000 20,000 SH X 1 X
4
<PAGE>
Insignia Financial
Group Inc Common 45767A105 526,040 50,099 SH X 1 X
Interim Services
Inc Common 45868P100 1,027,126 49,800 SH X 1 X
Jackpot
Enterprises Inc Common 466392107 471,750 55,500 SH X 1 X
Johns Manville
Corp Common 478129109 3,207,901 231,200 SH X 1 X
Jones Apparel
Group Common 480074103 5,153,635 150,197 SH X 1 X
Kaufman & Broad
Home Corp Common 486168107 1,542,250 62,000 SH X 1 X
LNR Property Corp Common 501940100 19,925,540 932,189 SH X 1 X
Lincare Holdings
Inc Common 532791100 1,042,500 41,700 SH X 1 X
Mentor Corp Common 587188103 188,113 10,100 SH X 1 X
Meristar Hotels
& Resorts Inc Common 589988104 803,688 233,800 SH X 1 X
National Equipment
Services Inc Common 635847106 3,025,200 252,100 SH X 1 X
Navistar
International Common 63934E108 2,495,000 49,900 SH X 1 X
Newhall Land &
Farming Co Common 651426108 2,597,938 105,500 SH X 1 X
Norrell Corp Common 656301108 3,576,256 190,100 SH X 1 X
Panera Bread Co Common 69840W108 3,702,601 580,800 SH X 1 X
Payless Shoesource
Inc Common 704379106 2,407,500 45,000 SH X 1 X
Pepsi Bottling
Group Inc Common 713409100 5,550,000 240,000 SH X 1 X
Personnel Group
of America Common 715338109 760,000 76,000 SH X 1 X
Prime Hospitality
Corp Common 741917108 5,157,324 429,777 SH X 1 X
Prison Realty Corp Common 74264N105 206,062 21,000 SH X 1 X
Providian Corp Common 74406A102 1,865,000 20,000 SH X 1 X
Quantum Corp Common 747906105 3,377,500 140,000 SH X 1 X
Quest Diagnostic Common 74834L100 1,560,376 57,000 SH X 1 X
Republic Services
Inc Common 760759100 1,054,350 42,600 SH X 1 X
Resource America
Inc Common 761195205 2,272,150 156,700 SH X 1 X
Resource Assets
Investment Trust Common 761196104 3,202,963 253,700 SH X 1 X
Station Casinos
Inc Common 857689103 4,079,076 200,200 SH X 1 X
Suiza Foods Corp Common 865077101 11,168,063 266,700 SH X 1 X
Sunstone Hotel
Investors Common 867933103 340,000 40,000 SH X 1 X
5
<PAGE>
Tenet Healthcare
Corp Common 88033G100 2,802,937 151,000 SH X 1 X
Total Renal Care
Holdings Common 89151A107 7,455,994 479,100 SH X 1 X
US Oncology Inc Common 90338W103 150,000 12,500 SH X 1 X
UnitedGlobalCom
Inc Common 913247508 4,936,625 73,000 SH X 1 X
COLUMN TOTALS 183,234,134
</TABLE>
[Repeat as necessary]
6
01181001.AP1
