The pair beamed as they posed for a snap alongside Zara's husband, Mike Tindall, and Eugenie's husband, Jack Brooksbank.
Equestrian Zara, 43, and art gallery director Eugenie, 34, coordinated in berry-hued outfits for their day at the races.
CHELTENHAM FESTIVAL
The cousins have always shared a close bond, and even had a joint christening for their sons, August Brooksbank and Lucas Tindall, both born within weeks of one another in 2021.
Queen Camilla also joined them at the Gloucestershire racecourse on Wednesday, in her role as Joint Patron of The Jockey Club.
See the best photos from day two of Cheltenham Festival…
The Queen was joined by her son and food writer, Tom Parker Bowles, in the Royal Box, as well as one of her Queen's Companions, Lady Sarah Keswick (left).
The former rugby player and pal to Mike Tindall stepped out with his reported new girlfriend and Big Brother star, Sara McLean.
James split from TV presenter Chloe Madeley in October 2023 after five years of marriage. The former couple share a daughter, Bodhi, born in August 2022.