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
ACTUANT CORP CL A NEW 00508X203 9,446 358,500 SH   SOLE   358,500 0 0
ALLIANCE HOLDINGS GP LP COM UNITS LP 01861G100 10,624 387,300 SH   SOLE   387,300 0 0
AGRIUM INC COM 008916108 1,462 15,300 SH   SOLE   15,300 0 0
ANTERO RES CORP COM 03674X106 1,026 45,000 SH   SOLE   45,000 0 0
AVIS BUDGET GROUP COM 053774105 17,748 600,000 SH   SOLE   600,000 0 0
BARRICK GOLD CORP COM 067901108 1,519 80,000 SH   SOLE   80,000 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 250 1 SH   SOLE   1 0 0
CF INDS HLDGS INC COM 125269100 1,468 50,000 SH   SOLE   50,000 0 0
CNX COAL RES LP COM UNIT RP LP 12592V100 7,960 469,600 SH   SOLE   469,600 0 0
CAL MAINE FOODS INC COM NEW 128030202 552 15,000 SH   SOLE   15,000 0 0
CAPITAL SR LIVING CORP COM 140475104 16,872 1,200,000 SH   SOLE   1,200,000 0 0
CINER RES LP COM UNIT LTD 172464109 7,133 250,000 SH   SOLE   250,000 0 0
CROSSAMERICA PARTNERS LP UT LTD PTN INT 22758A105 16,363 625,000 SH   SOLE   625,000 0 0
DELEK US HLDGS INC COM 246647101 485 20,000 SH   SOLE   20,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 11,260 245,000 SH   SOLE   245,000 0 0
GENERAL MTRS CO COM 37045V100 2,475 70,000 SH   SOLE   70,000 0 0
HERTZ GLOBAL HLDGS INC COM 42806J106 5,788 330,000 SH   SOLE   330,000 0 0
KINROSS GOLD CORP COM NO PAR 496902404 456 130,000 SH   SOLE   130,000 0 0
KOPPERS HOLDINGS INC COM 50060P106 8,817 208,200 SH   SOLE   208,200 0 0
NATIONAL OILWELL VARCO INC COM 637071101 5,111 127,500 SH   SOLE   127,500 0 0
OWENS ILL INC COM 690768403 10,210 501,000 SH   SOLE   501,000 0 0
SABRE CORP COM 78573M104 212 10,000 SH   SOLE   10,000 0 0
TRAVELERS COMPANIES INC COM 89417E109 7,835 65,000 SH   SOLE   65,000 0 0
TYSON FOODS INC CL A 902494103 1,080 17,500 SH   SOLE   17,500 0 0
US BANCORP DEL COM NEW 902973304 5,923 115,000 SH   SOLE   115,000 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 741 32,500 SH   SOLE   32,500 0 0
VANECK VECTORS ETF TR JR GOLD MINERS E 92189F791 720 20,000 SH   SOLE   20,000 0 0
VIASAT INC COM 92552V100 1,193 18,700 SH   SOLE   18,700 0 0
AXALTA COATING SYS LTD COM G0750C108 9,499 295,000 SH   SOLE   295,000 0 0
NOMAD HLDGS LTD USD ORD SHS G6564A105 143 12,500 SH   SOLE   12,500 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 13,748 100,000 SH Put SOLE   100,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 13,748 100,000 SH Put SOLE   100,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 13,748 100,000 SH Put SOLE   100,000 0 0
SPDR SP 500 ETF TR TR UNIT 78462F103 11,787 50,000 SH Put SOLE   50,000 0 0
SPDR SP 500 ETF TR TR UNIT 78462F103 23,574 100,000 SH Put SOLE   100,000 0 0