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
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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
AMERICAN CAP LTD COM 02503Y103 14,198 1,002,700 SH   SOLE   1,002,700 0 0
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 17,831 1,228,000 SH   SOLE   1,228,000 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 39,356 728,550 SH   SOLE   728,550 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 2,412 200,000 SH   SOLE   200,000 0 0
ANADARKO PETE CORP COM 032511107 15,216 150,000 SH   SOLE   150,000 0 0
BANK AMER CORP COM 060505104 28,088 1,647,400 SH   SOLE   1,647,400 0 0
BP PLC SPONSORED ADR 055622104 6,593 150,000 SH   SOLE   150,000 0 0
CHILDRENS PL INC COM 168905107 23,972 502,980 SH   SOLE   502,980 0 0
CIGNA CORPORATION COM 125509109 45,316 499,680 SH   SOLE   499,680 0 0
CITIGROUP INC COM NEW 172967424 39,901 770,000 SH   SOLE   770,000 0 0
COVIDIEN PLC SHS G2554F113 4,325 50,000 SH   SOLE   50,000 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 11,961 195,000 SH   SOLE   195,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 18,075 500,000 SH   SOLE   500,000 0 0
DISH NETWORK CORP CL A 25470M109 1,292 20,000 SH   SOLE   20,000 0 0
ENERGY XXI BERMUDA LTD USD UNRS SHS G10082140 1,135 100,000 SH   SOLE   100,000 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 38,627 1,502,400 SH   SOLE   1,502,400 0 0
EXELON CORP COM 30161N101 2,591 76,000 SH Call SOLE   76,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 3,532 50,000 SH   SOLE   50,000 0 0
FIRSTENERGY CORP COM 337932107 839 25,000 SH   SOLE   25,000 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 4,437 300,000 SH   SOLE   300,000 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 1,758 78,542 SH   SOLE   78,542 0 0
GENERAL MTRS CO COM 37045V100 52,746 1,651,397 SH   SOLE   1,651,397 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 1,136 78,542 SH   SOLE   78,542 0 0
GLOBAL BRASS & COPPR HLDGS I COM 37953G103 7,248 494,053 SH   SOLE   494,053 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 33,525 900,000 SH   SOLE   900,000 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 1,297 353,396 SH   SOLE   353,396 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 38,085 1,500,000 SH   SOLE   1,500,000 0 0
HESS CORP COM 42809H107 15,846 168,000 SH   SOLE   168,000 0 0
HEWLETT PACKARD CO COM 428236103 1,774 50,000 SH   SOLE   50,000 0 0
JPMORGAN CHASE & CO COM 46625H100 39,156 650,000 SH   SOLE   650,000 0 0
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 25,293 666,300 SH   SOLE   666,300 0 0
LIBERTY TRIPADVISOR HLDGS IN COM SER A 531465102 22,588 666,300 SH   SOLE   666,300 0 0
MERCER INTL INC COM 588056101 19,404 1,990,189 SH   SOLE   1,990,189 0 0
METLIFE INC COM 59156R108 56,889 1,059,000 SH   SOLE   1,059,000 0 0
MICRON TECHNOLOGY INC COM 595112103 30,834 900,000 SH   SOLE   900,000 0 0
NCR CORP NEW COM 62886E108 3,341 100,000 SH   SOLE   100,000 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 11,116 275,000 SH   SOLE   275,000 0 0
NORTEL INVERSORA S A SPON ADR PFD B 656567401 9,915 442,435 SH   SOLE   442,435 0 0
NRG ENERGY INC COM NEW 629377508 1,373 45,042 SH   SOLE   45,042 0 0
NU SKIN ENTERPRISES INC CL A 67018T105 450 10,000 SH   SOLE   10,000 0 0
NXP SEMICONDUCTORS N V COM N6596X109 11,975 175,000 SH   SOLE   175,000 0 0
PETROBRAS ARGENTINA S A SPONS ADR 71646J109 1,330 203,300 SH   SOLE   203,300 0 0
PRUDENTIAL FINL INC COM 744320102 20,754 236,000 SH   SOLE   236,000 0 0
SAFEWAY INC COM NEW 786514208 3,430 100,000 SH   SOLE   100,000 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 890 50,000 SH   SOLE   50,000 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 13,175 505,000 SH   SOLE   505,000 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 6,813 179,000 SH   SOLE   179,000 0 0
STEALTHGAS INC SHS Y81669106 19,521 2,142,857 SH   SOLE   2,142,857 0 0
SUNCOKE ENERGY INC COM 86722A103 10,408 463,600 SH   SOLE   463,600 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 3,045 150,000 SH   SOLE   150,000 0 0
TRINSEO S A SHS L9340P101 9,186 584,000 SH   SOLE   584,000 0 0
UNITED CONTL HLDGS INC COM 910047109 23,156 494,885 SH   SOLE   494,885 0 0
WELLPOINT INC COM 94973V107 47,848 400,000 SH   SOLE   400,000 0 0
XERIUM TECHNOLOGIES INC COM NEW 98416J118 1,935 132,423 SH   SOLE   132,423 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 71,927 1,944,500 SH   SOLE   1,944,500 0 0