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
ALLY FINL INC COM 02005N100 45,509 2,028,937 SH   SOLE 2,028,937 0 0
AMERICAN CAP LTD COM 02503Y103 55,493 4,095,445 SH   SOLE 4,095,445 0 0
AVAGO TECHNOLOGIES LTD SHS Y0486S104 17,410 130,971 SH   SOLE 130,971 0 0
BROOKDALE SR LIVING INC COM 112463104 18,139 522,734 SH   SOLE 522,734 0 0
CDW CORP COM 12514G108 6,698 195,380 SH   SOLE 195,380 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 29,352 714,515 SH   SOLE 714,515 0 0
DIAMONDBACK ENERGY INC COM 25278X109 25,042 332,210 SH   SOLE 332,210 0 0
DYNEGY INC NEW DEL COM 26817R108 25,728 879,582 SH   SOLE 879,582 0 0
EAGLE BULK SHIPPING INC SHS NEW 2014 Y2187A127 41,074 5,893,033 SH   SOLE 5,893,033 0 0
EURONAV NV ANTWERPEN SHS B38564108 23,493 1,586,323 SH   SOLE 1,586,323 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 45,591 2,502,226 SH   SOLE 2,502,226 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 4,766 652,914 SH   SOLE 652,914 0 0
HUNTSMAN CORP COM 447011107 16,133 730,993 SH   SOLE 730,993 0 0
INTERNATIONAL GAME TECHNOLOG SHS USD G4863A108 36,157 2,035,891 SH   SOLE 2,035,891 0 0
MGIC INVT CORP WIS COM 552848103 16,422 1,443,093 SH   SOLE 1,443,093 0 0
MICROSEMI CORP COM 595137100 12,005 343,487 SH   SOLE 343,487 0 0
TRIBUNE MEDIA CO CL A 896047503 27,247 510,346 SH   SOLE 510,346 0 0
UNITED STATES OIL FUND LP UNITS 91232N108 943 47,418 SH   SOLE 47,418 0 0