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 51,027 2,432,174 SH   SOLE 2,432,174 0 0
AMERICAN CAP LTD COM 02503Y103 35,970 2,432,050 SH   SOLE 2,432,050 0 0
AVAGO TECHNOLOGIES LTD SHS Y0486S104 23,356 183,931 SH   SOLE 183,931 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 3,558 221,001 SH   SOLE 221,001 0 0
CDW CORP COM 12514G108 18,629 500,245 SH   SOLE 500,245 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 16,394 364,625 SH   SOLE 364,625 0 0
DIAMONDBACK ENERGY INC COM 25278X109 23,443 305,086 SH   SOLE 305,086 0 0
DYNEGY INC NEW DEL COM 26817R108 28,821 916,992 SH   SOLE 916,992 0 0
EAGLE BULK SHIPPING INC SHS NEW 2014 Y2187A127 37,645 5,094,053 SH   SOLE 5,094,053 0 0
EURONAV NV ANTWERPEN SHS TEMP B38564124 74,895 6,210,177 SH   SOLE 6,210,177 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 45,972 2,612,070 SH   SOLE 2,612,070 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 3,639 450,984 SH   SOLE 450,984 0 0
HUNTSMAN CORP COM 447011107 12,576 567,239 SH   SOLE 567,239 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 38,138 2,190,572 SH   SOLE 2,190,572 0 0
LINN ENERGY LLC PUT 536020950 2,170 180,800 SH Put SOLE 180,800 0 0
MGIC INVT CORP WIS COM 552848103 20,872 2,167,378 SH   SOLE 2,167,378 0 0
MICROSEMI CORP COM 595137100 8,200 231,631 SH   SOLE 231,631 0 0
SPDR S&P 500 ETF TR PUT 78462F953 126,250 625,000 SH Put SOLE 625,000 0 0
TRIBUNE MEDIA CO CL A 896047503 19,270 316,886 SH   SOLE 316,886 0 0