The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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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 |
| Adient Plc | COM | g0084w101 | 24,194 | 307,416 | SH | SOLE | 47,801 | 0 | 259,615 | ||
| Aegean Marine Petrol Network I | COM | y0017s102 | 8,526 | 1,982,728 | SH | SOLE | 406,584 | 0 | 1,576,144 | ||
| Alexander & Baldwin Inc | COM | 014491104 | 9,144 | 329,630 | SH | SOLE | 18,659 | 0 | 310,971 | ||
| American Equity Inv Holding Co | COM | 025676206 | 19,059 | 620,197 | SH | SOLE | 109,819 | 0 | 510,378 | ||
| Ardmore Shipping Corp | COM | y0207T100 | 6,658 | 832,262 | SH | SOLE | 210,622 | 0 | 621,640 | ||
| Assured Guaranty Limited | COM | G0585R106 | 15,940 | 470,629 | SH | SOLE | 70,559 | 0 | 400,070 | ||
| Aviat Networks Inc | COM | 05366y201 | 4,050 | 266,990 | SH | SOLE | 209,238 | 0 | 57,752 | ||
| Builders FirstSource, Inc. | COM | 12008r107 | 5,244 | 240,661 | SH | SOLE | 20,000 | 0 | 220,661 | ||
| Chesapeake Energy Corporation | COM | 165167107 | 40,517 | 10,231,525 | SH | SOLE | 2,124,097 | 0 | 8,107,428 | ||
| Citigroup, Inc. | COM | 172967424 | 35,260 | 473,858 | SH | SOLE | 28,875 | 0 | 444,983 | ||
| Colony Bankcorp Inc | COM | 19623p101 | 149 | 10,172 | SH | SOLE | 10,172 | 0 | 0 | ||
| Enstar Group Ltd. | COM | g3075p101 | 7,328 | 36,504 | SH | SOLE | 7,102 | 0 | 29,402 | ||
| Everest Re Group Ltd | COM | g3223r108 | 2,200 | 9,941 | SH | SOLE | 1,900 | 0 | 8,041 | ||
| Flagstar Bancorp, Inc. | COM | 337930705 | 429 | 11,463 | SH | SOLE | 11,463 | 0 | 0 | ||
| Forest City Realty Trust- Cl A | COM | 345605109 | 5,264 | 218,421 | SH | SOLE | 8,005 | 0 | 210,416 | ||
| Genworth Financial, Inc. | COM | 37247d106 | 3,339 | 1,073,732 | SH | SOLE | 7,581 | 0 | 1,066,151 | ||
| Halcon Resources Corporation | COM | 40537q605 | 3,040 | 401,539 | SH | SOLE | 17,397 | 0 | 384,142 | ||
| Herc Holdings Inc. | COM | 42704L104 | 34,149 | 545,422 | SH | SOLE | 65,013 | 0 | 480,409 | ||
| HomeStreet, Inc. | COM | 43785v102 | 4,829 | 166,795 | SH | SOLE | 75,750 | 0 | 91,045 | ||
| Hudson Global Inc | COM | 443787106 | 1,300 | 577,979 | SH | SOLE | 61,526 | 0 | 516,453 | ||
| Intevac Inc | COM | 461148108 | 1,275 | 186,199 | SH | SOLE | 186,199 | 0 | 0 | ||
| Invacare Corp | COM | 461203101 | 1,541 | 91,468 | SH | SOLE | 4,438 | 0 | 87,030 | ||
| KeyCorp | COM | 493267108 | 27,877 | 1,382,105 | SH | SOLE | 125,243 | 0 | 1,256,862 | ||
| MRC Global Inc. | COM | 55345k103 | 6,636 | 392,176 | SH | SOLE | 79,891 | 0 | 312,285 | ||
| Mallinckrodt Plc | COM | g5785g107 | 18,599 | 824,414 | SH | SOLE | 125,523 | 0 | 698,891 | ||
| ModusLink Global Solutions Inc | COM | 60786L206 | 2,197 | 882,419 | SH | SOLE | 9,366 | 0 | 873,053 | ||
| NorthStar Realty Europe Corp. | COM | 66706l101 | 7,700 | 573,340 | SH | SOLE | 9,399 | 0 | 563,941 | ||
| Now Inc. | COM | 67011p100 | 17,105 | 1,550,730 | SH | SOLE | 95,743 | 0 | 1,454,987 | ||
| Oasis Petroleum Inc | COM | 674215108 | 1,797 | 213,725 | SH | SOLE | 13,339 | 0 | 200,386 | ||
| Oriental Financial Grp Inc | COM | 67103x102 | 435 | 46,227 | SH | SOLE | 46,227 | 0 | 0 | ||
| QEP Resources Inc. | COM | 74733v100 | 31,281 | 3,268,610 | SH | SOLE | 744,750 | 0 | 2,523,860 | ||
| Range Resources Corp | COM | 75281a109 | 1,753 | 102,730 | SH | SOLE | 11,719 | 0 | 91,011 | ||
| Regions Financial Corporation | COM | 7591ep100 | 695 | 40,238 | SH | SOLE | 40,238 | 0 | 0 | ||
| Scorpio Tankers Inc | COM | y7542c106 | 4,931 | 1,616,824 | SH | SOLE | 148,976 | 0 | 1,467,848 | ||
| Taylor Morrison Home Corp. Cla | COM | 87724p106 | 6,254 | 255,577 | SH | SOLE | 50,177 | 0 | 205,400 | ||
| Tuesday Morning Corp | COM | 899035505 | 909 | 330,727 | SH | SOLE | 330,727 | 0 | 0 | ||
| US Gold Corp | COM | 90291c102 | 49 | 30,000 | SH | SOLE | 30,000 | 0 | 0 | ||
| UTStarcom Holdings Corporation | COM | g9310a114 | 1,385 | 246,037 | SH | SOLE | 246,037 | 0 | 0 | ||
| Veeco Instruments Inc | COM | 922417100 | 8,498 | 572,286 | SH | SOLE | 93,866 | 0 | 478,420 | ||
| Venator Materials, Plc | COM | g9329z100 | 8,121 | 367,125 | SH | SOLE | 43,191 | 0 | 323,934 | ||
| Weatherford International Limi | COM | G48833100 | 21,631 | 5,187,211 | SH | SOLE | 1,078,454 | 0 | 4,108,757 | ||
| Wells Fargo & Co | COM | 949746101 | 15,431 | 254,338 | SH | SOLE | 8,500 | 0 | 245,838 | ||
| Whiting Petroleum Corp. | COM | 966387409 | 37,975 | 1,434,108 | SH | SOLE | 227,588 | 0 | 1,206,520 | ||
| Willbros Group, Inc. | COM | 969203108 | 1,324 | 932,565 | SH | SOLE | 124,732 | 0 | 807,833 | ||
| Halcon Resources Warrants $14. | *W EXP 09/09/202 | 40537q118 | 23 | 35,053 | SH | SOLE | 388 | 0 | 34,665 | ||