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
ACACIA RESH CORP ACACIA TCH COM 003881307 4,887 722,865 SH   SOLE   547,127 175,738 0
AERCAP HOLDINGS NV SHS N00985106 12,625 246,540 SH   SOLE   234,338 12,202 0
AMERICAN EAGLE OUTFITTERS IN COM 02553E106 12,993 346,204 SH   SOLE   288,771 57,433 0
BILL COM HLDGS INC COM 090043100 251 1,370 SH   SOLE   0 1,370 0
COMMSCOPE HLDG CO INC COM 20337X109 32,459 1,523,181 SH   SOLE   1,185,129 338,052 0
CONDUENT INC COM 206787103 28,670 3,822,651 SH   SOLE   2,836,397 986,254 0
CORNERSTONE BLDG BRANDS INC COM 21925D109 26,672 1,467,094 SH   SOLE   1,029,340 437,754 0
FERROGLOBE PLC SHS G33856108 24,913 4,070,737 SH   SOLE   3,046,735 1,024,002 0
FREEPORT-MCMORAN INC CL B 35671D857 219 5,898 SH   SOLE   0 5,898 0
GENERAL MTRS CO COM 37045V100 1,657 28,000 SH   SOLE   0 28,000 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 8,438 764,330 SH   SOLE   634,821 129,509 0
ISHARES TR RUSSELL 2000 ETF 464287655 34,406 1,500 SH Put SOLE   1,500 0 0
JANUS INTERNATIONAL GROUP IN COMMON STOCK 47103N106 10,555 746,976 SH   SOLE   644,649 102,327 0
KRATON CORP COM 50077C106 35,397 1,096,229 SH   SOLE   868,141 228,088 0
KRATON CORP COM 50077C106 2,012 62,300 SH Call SOLE   62,300 0 0
MBIA INC COM 55262C100 9,731 884,616 SH   SOLE   700,468 184,148 0
MCAFEE CORP COM CL A 579063108 16,783 598,968 SH   SOLE   445,458 153,510 0
PARTY CITY HOLDCO INC COM 702149105 17,028 1,825,133 SH   SOLE   1,523,312 301,821 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 17,754 376,217 SH   SOLE   330,671 45,546 0
SUPER MICRO COMPUTER INC COM 86800U104 10,976 312,001 SH   SOLE   266,753 45,248 0
TETRA TECHNOLOGIES INC DEL COM 88162F105 3,995 920,585 SH   SOLE   907,325 13,260 0
THE ODP CORP COM 88337F105 23,452 488,480 SH   SOLE   439,249 49,231 0
TIPTREE INC COM 88822Q103 616 66,237 SH   SOLE   42,200 24,037 0
TRONOX HOLDINGS PLC SHS G9087Q102 15,214 679,193 SH   SOLE   549,892 129,301 0
VONAGE HLDGS CORP COM 92886T201 17,421 1,208,974 SH   SOLE   888,830 320,144 0