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 187,116 7,712,927 SH   SOLE 7,712,927 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 71,235 1,500,000 SH   SOLE 1,500,000 0 0
ARCHROCK PARTNERS L P COM UNITS REPSTG 03957U100 7,184 503,821 SH   SOLE 503,821 0 0
CALIFORNIA RES CORP COM NEW 13057Q206 15,462 1,478,231 SH   SOLE 1,478,231 0 0
CM FIN INC COM 12574Q103 35,700 3,818,186 SH   SOLE 3,818,186 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 22,243 2,896,242 SH   SOLE 2,896,242 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 173,333 3,594,634 SH   SOLE 3,594,634 0 0
EGALET CORP COM 28226B104 256 200,000 SH   SOLE 200,000 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 14,480 3,584,219 SH   SOLE 3,584,219 0 0
INTERNATIONAL SEAWAYS INC COM Y41053102 78,870 4,003,576 SH   SOLE 4,003,576 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 2,514 60,000 SH   SOLE 60,000 0 0
OVERSEAS SHIPHOLDING GROUP I CL A NEW 69036R863 851 323,705 SH   SOLE 323,705 0 0
SPHERE 3D CORP NEW COM NEW 84841L209 1,346 609,215 SH   SOLE 609,215 0 0
UNITED CONTL HLDGS INC COM 910047109 161,126 2,646,622 SH   SOLE 2,646,622 0 0