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
ADIENT PLC ORD SHS G0084W101 3,148 40,000 SH   SOLE   40,000 0 0
AETNA INC NEW COM 00817Y108 73,960 410,000 SH   SOLE   410,000 0 0
ALLERGAN PLC SHS G0177J108 4,090 25,000 SH   SOLE   25,000 0 0
ALLY FINL INC COM 02005N100 2,916 100,000 SH   SOLE   100,000 0 0
ALTABA INC COM 021346101 450,711 6,452,547 SH   SOLE   6,452,547 0 0
BANK AMER CORP COM 060505104 25,753 872,400 SH   SOLE   872,400 0 0
CIT GROUP INC COM NEW 125581801 7,702 156,446 SH   SOLE   156,446 0 0
CITIGROUP INC COM NEW 172967424 57,296 770,000 SH   SOLE   770,000 0 0
CONCORDIA INTERNATIONAL CORP COM 20653P102 20 30,000 SH   SOLE   30,000 0 0
DELL TECHNOLOGIES INC COM CL V 24703L103 42,078 517,683 SH   SOLE   517,683 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 56,000 1,000,000 SH   SOLE   1,000,000 0 0
ENVISION HEALTHCARE CORP COM 29414D100 12,307 356,100 SH   SOLE   356,100 0 0
ERA GROUP INC COM 26885G109 196 18,206 SH   SOLE   18,206 0 0
FORTERRA INC COM 34960W106 15,760 1,419,830 SH   SOLE   1,419,830 0 0
GENERAL MTRS CO COM 37045V100 16,396 400,000 SH   SOLE   400,000 0 0
HERC HLDGS INC COM 42704L104 6,783 108,333 SH   SOLE   108,333 0 0
JPMORGAN CHASE & CO COM 46625H100 37,782 353,300 SH   SOLE   353,300 0 0
MAGNA INTL INC COM 559222401 17,369 306,500 SH   SOLE   306,500 0 0
MDC PARTNERS INC CL A SUB VTG 552697104 8,326 853,970 SH   SOLE   853,970 0 0
MERCER INTL INC COM 588056101 29,165 2,039,496 SH   SOLE   2,039,496 0 0
MICRON TECHNOLOGY INC COM 595112103 10,280 250,000 SH   SOLE   250,000 0 0
MYLAN N V SHS EURO N59465109 4,231 100,000 SH   SOLE   100,000 0 0
NRG ENERGY INC COM NEW 629377508 1,283 45,042 SH   SOLE   45,042 0 0
NXP SEMICONDUCTORS N V COM N6596X109 8,243 70,400 SH   SOLE   70,400 0 0
PG&E CORP COM 69331C108 35,640 795,000 SH   SOLE   795,000 0 0
PRUDENTIAL FINL INC COM 744320102 11,498 100,000 SH   SOLE   100,000 0 0
QUALCOMM INC COM 747525103 12,804 200,000 SH   SOLE   200,000 0 0
QUALITY CARE PPTYS INC COM 747545101 4,499 325,753 SH   SOLE   325,753 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 2,515 119,347 SH   SOLE   119,347 0 0
SOLARCITY CORP NOTE 1.625%11/0 83416TAC4 910 980,000 PRN   SOLE   980,000 0 0
STEALTHGAS INC SHS Y81669106 10,531 2,415,287 SH   SOLE   2,415,287 0 0
SURGERY PARTNERS INC COM 86881A100 1,357 112,138 SH   SOLE   112,138 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 27,303 745,362 SH   SOLE   745,362 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 14,023 925,000 SH   SOLE   925,000 0 0
TIME WARNER INC COM NEW 887317303 46,650 510,000 SH   SOLE   510,000 0 0
ULTRA PETROLEUM CORP COM NEW 903914208 2,148 237,139 SH   SOLE   237,139 0 0
UNITED CONTL HLDGS INC COM 910047109 20,220 300,000 SH   SOLE   300,000 0 0
VEREIT INC COM 92339V100 72,461 9,301,777 SH   SOLE   9,301,777 0 0
VERSO CORP CL A 92531L207 21,086 1,200,098 SH   SOLE   1,200,098 0 0
VIACOM INC NEW CL B 92553P201 10,475 340,000 SH   SOLE   340,000 0 0
VISTA OUTDOOR INC COM 928377100 5,850 401,523 SH   SOLE   401,523 0 0
XERIUM TECHNOLOGIES INC COM NEW 98416J118 564 132,423 SH   SOLE   132,423 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 20,170 880,385 SH   SOLE   880,385 0 0