The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AT&T INC COM 00206R102 258,723 7,650,000 SH Put SOLE   7,650,000 0 0
RESMED INC COM 761152107 51,510 975,200 SH Put SOLE   975,200 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 2,298 100,000 SH   SOLE   100,000 0 0
ALTISOURCE ASSET MGMT CORP COM 02153X108 33,122 62,143 SH   SOLE   62,143 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 132,857 10,889,907 SH   SOLE   10,889,907 0 0
AUTODESK INC COM 052769106 19,833 481,733 SH   SOLE   481,733 0 0
CARDERO RES CORP COM 14140U105 1,678 9,872,173 SH   SOLE   9,872,173 0 0
COLE REAL ESTATE INVTS INC COM 19329V105 172,797 14,094,364 SH   SOLE   14,094,364 0 0
DESARROLLADORA HOMEX S A DE SPONSORED ADR 25030W100 1,146 540,746 SH   SOLE   540,746 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 33,279 426,000 SH   SOLE   426,000 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 2,396 145,200 SH Call SOLE   145,200 0 0
HARBINGER GROUP INC COM 41146A106 6,606 650,000 SH   SOLE   650,000 0 0
HEMISPHERE MEDIA GROUP INC CL A 42365Q103 38,017 3,235,500 SH   SOLE   3,235,500 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 69,572 3,139,511 SH   SOLE   3,139,511 0 0
ING U S INC COM 45685E106 193,165 6,612,964 SH   SOLE   6,612,964 0 0
INTEROIL CORP COM 460951106 28,025 393,000 SH   SOLE   393,000 0 0
JOURNAL COMMUNICATIONS INC CL A 481130102 20,878 2,441,912 SH   SOLE   2,441,912 0 0
LAMAR ADVERTISING CO CL A 512815101 86,621 1,841,830 SH   SOLE   1,841,830 0 0
LEAR CORP COM NEW 521865204 805 11,242 SH   SOLE   11,242 0 0
LYON WILLIAM HOMES CL A NEW 552074700 172,741 8,594,788 SH   SOLE   8,594,788 0 0
MADISON SQUARE GARDEN CO CL A 55826P100 334,168 5,754,567 SH   SOLE   5,754,567 0 0
MELCO CROWN ENTMT LTD ADR 585464100 120,899 3,798,260 SH   SOLE   3,798,260 0 0
MOHAWK INDS INC COM 608190104 52,094 399,954 SH   SOLE   399,954 0 0
MYRIAD GENETICS INC COM 62855J104 9,494 404,000 SH   SOLE   404,000 0 0
NORDION INC COM 65563C105 43,440 5,033,576 SH   SOLE   5,033,576 0 0
PENN NATL GAMING INC COM 707569109 96,254 1,738,690 SH   SOLE   1,738,690 0 0
RESMED INC COM 761152107 135,832 2,571,608 SH   SOLE   2,571,608 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 54,613 324,884 SH   SOLE   324,884 0 0
SPECTRUM BRANDS HLDGS INC COM 84763R101 150,604 2,287,421 SH   SOLE   2,287,421 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 183,458 5,476,349 SH   SOLE   5,476,349 0 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 19,594 586,656 SH   SOLE   586,656 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 149,575 3,205,646 SH   SOLE   3,205,646 0 0
TOWER GROUP INTL LTD COM G8988C105 7,323 1,046,145 SH   SOLE   1,046,145 0 0
ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104 180,906 1,292,094 SH   SOLE   1,292,094 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,218,725 7,250,000 SH Put SOLE   7,250,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,874,510 17,100,000 SH Call SOLE   17,100,000 0 0
SEAWORLD ENTMT INC COM 81282V100 10,280 346,959 SH   SOLE   346,959 0 0
VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 161,453 4,589,329 SH   SOLE   4,589,329 0 0