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
AMERICAN AIRLINES GROUP COMMON 02376R102 94 1,815 SH   SOLE NONE 1,815 0 0
APPROACH RESOURCES INC COMMON 03834A103 6,066 2,049,491 SH   SOLE NONE 2,049,491 0 0
BANK OF AMERICA CORP 30.7900 EXP10/28/2018 COMMON 060505153 6,602 3,084,848 SH Call SOLE NONE 3,084,848 0 0
BILL BARRETT CORP COMMON 06846N104 5,501 1,072,305 SH   SOLE NONE 1,072,305 0 0
BLUELINX HLDGS INC COMMON 09624H208 3,807 390,019 SH   SOLE NONE 390,019 0 0
BONANZA CREEK ENERGY, INC COMMON 097793400 10,153 367,983 SH   SOLE NONE 367,983 0 0
BUILDERS FIRSTSOURCE, INC COMMON 12008R107 4,759 218,408 SH   SOLE NONE 218,408 0 0
CAESARS ENTERTAINMENT CORP 10/01/2024 CONV AO CNV 127686AA1 4,293 2,211,319 PRN   SOLE NONE 2,211,319 0 0
CAESARS ENTERTAINMENT CORP COM 127686103 157 12,385 SH   SOLE NONE 12,385 0 0
CITIGROUP INC 10.6100 EXP01/04/2019 COMMON 172967226 595 5,944,480 SH Call SOLE NONE 5,944,480 0 0
CIVEO CORP COMMON 17878Y108 9,764 3,576,544 SH   SOLE NONE 3,576,544 0 0
CONSOLIDATED COMMUNICATIONS INC COMMON 209034107 8,783 720,472 SH   SOLE NONE 720,472 0 0
DYNEGY INC COMMON 26817R108 7,545 636,700 SH   SOLE NONE 636,700 0 0
DYNEGY INC 35.0000 EXP02/02/2024 COMMON 26817R157 18 92,138 SH Call SOLE NONE 92,138 0 0
ENSCO PLC CL A G3157S106 3,912 661,966 SH   SOLE NONE 661,966 0 0
FAIRMOUNT SANTROL HOLDINGS INC COMMON 30555Q108 7,737 1,479,361 SH   SOLE NONE 1,479,361 0 0
GENWORTH FINANCIAL INC CL A 37247D106 5,168 1,661,636 SH   SOLE NONE 1,661,636 0 0
GLOBALSTAR, INC COMMON 378973408 6,992 5,337,389 SH   SOLE NONE 5,337,389 0 0
INTERNATIONAL SEAWAYS INC COMMON Y41053102 2,200 119,156 SH   SOLE NONE 119,156 0 0
MIDSTATES PETROLEUM COMPANY, INC COMMON 59804T407 4,199 253,236 SH   SOLE NONE 253,236 0 0
NII HOLDINGS, INC CL B 62913F508 2,459 5,794,851 SH   SOLE NONE 5,794,851 0 0
PATTERSON-UTI ENERGY INC COMMON 703481101 4,110 178,626 SH   SOLE NONE 178,626 0 0
PEABODY ENERGY CORP COMMON 704551100 21,994 558,654 SH   SOLE NONE 558,654 0 0
PLY GEM HOLDINGS, INC COMMON 72941W100 3,622 195,807 SH   SOLE NONE 195,807 0 0
SANCHEZ ENERGY CORP COMMON 79970Y105 4,995 940,709 SH   SOLE NONE 940,709 0 0
SANDRIDGE ENERGY, INC COMMON 80007P869 11,978 568,508 SH   SOLE NONE 568,508 0 0
SANOFI-AVENTIS EXP12/31/2020 RTS 80105N113 1,384 3,643,228 SH   SOLE NONE 3,643,228 0 0
SILVERBOW RESOURCES, INC COMMON 82836G102 6,985 235,042 SH   SOLE NONE 235,042 0 0
ULTRA PETROLEUM CORP COMMON 903914208 3,568 393,801 SH   SOLE NONE 393,801 0 0
URBAN ONE INC COMMON 91705J204 3,255 1,860,089 SH   SOLE NONE 1,860,089 0 0