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

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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
ALLY FINL INC COM 02005N100 20,585 1,010,074 SH   SOLE 1,010,074 0 0
AMERICAN CAP LTD COM 02503Y103 59,006 4,852,450 SH   SOLE 4,852,450 0 0
AVAGO TECHNOLOGIES LTD SHS Y0486S104 22,654 181,216 SH   SOLE 181,216 0 0
CALPINE CORP COM NEW 131347304 38,082 2,608,370 SH   SOLE 2,608,370 0 0
CBS CORP NEW CL B 124857202 23,865 598,130 SH   SOLE 598,130 0 0
CDW CORP COM 12514G108 5,851 143,185 SH   SOLE 143,185 0 0
CONTINENTAL RESOURCES INC COM 212015101 20,321 701,440 SH   SOLE 701,440 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 34,125 760,523 SH   SOLE 760,523 0 0
DIAMONDBACK ENERGY INC COM 25278X109 41,433 641,375 SH   SOLE 641,375 0 0
DYNEGY INC NEW DEL COM 26817R108 22,568 1,091,802 SH   SOLE 1,091,802 0 0
EAGLE BULK SHIPPING INC SHS NEW 2014 Y2187A127 34,958 5,895,175 SH   SOLE 5,895,175 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 13,220 787,835 SH   SOLE 787,835 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 38,385 2,490,946 SH   SOLE 2,490,946 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 4,513 813,099 SH   SOLE 813,099 0 0
HUNTSMAN CORP COM 447011107 25,442 2,625,603 SH   SOLE 2,625,603 0 0
INTERNATIONAL GAME TECHNOLOG SHS USD G4863A108 41,472 2,705,305 SH   SOLE 2,705,305 0 0
MGIC INVT CORP WIS COM 552848103 10,787 1,164,933 SH   SOLE 1,164,933 0 0
MICROSEMI CORP COM 595137100 11,367 346,336 SH   SOLE 346,336 0 0
NEXTERA ENERGY PARTNERS LP COM UNIT PART IN 65341B106 1,831 84,000 SH   SOLE 84,000 0 0
NII HLDGS INC COM PAR $0.001 62913F508 29,201 4,485,616 SH   SOLE 4,485,616 0 0
OUTFRONT MEDIA INC COM 69007J106 1,747 84,000 SH   SOLE 84,000 0 0
SUPERIOR ENERGY SVCS INC COM 868157108 8,640 684,084 SH   SOLE 684,084 0 0
TIME WARNER INC COM NEW 887317303 48,106 699,727 SH   SOLE 699,727 0 0
TRIBUNE MEDIA CO CL A 896047503 53,385 1,499,578 SH   SOLE 1,499,578 0 0