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 103 2,715 SH   SOLE NONE 2,715 0 0
APPROACH RESOURCES INC COMMON 03834A103 4,526 1,855,064 SH   SOLE NONE 1,855,064 0 0
BANK OF AMERICA CORP 30.7900 EXP10/28/2018 COMMON 060505153 774 1,268,887 SH Call SOLE NONE 1,268,887 0 0
BLUELINX HLDGS INC COMMON 09624H208 5,865 156,276 SH   SOLE NONE 156,276 0 0
BONANZA CREEK ENERGY, INC COMMON 097793400 6,942 183,319 SH   SOLE NONE 183,319 0 0
C&J OLDCO, INC COMMON 12674R100 3,377 143,100 SH   SOLE NONE 143,100 0 0
CITIGROUP INC. 10.6100 EXP01/04/2019 COMMON 172967226 74 5,944,480 SH Call SOLE NONE 5,944,480 0 0
CIVEO CORP COMMON 17878Y108 12,013 2,755,295 SH   SOLE NONE 2,755,295 0 0
CONSOLIDATED COMMUNICATIONS INC COMMON 209034107 8,155 659,772 SH   SOLE NONE 659,772 0 0
COVIA HOLDINGS CORP COMMON 22305A103 4,978 268,191 SH   SOLE NONE 268,191 0 0
ENSCO PLC CL A G3157S106 5,432 748,166 SH   SOLE NONE 748,166 0 0
GENWORTH FINANCIAL INC CL A 37247D106 10,218 2,270,717 SH   SOLE NONE 2,270,717 0 0
GLOBALSTAR, INC COMMON 378973408 2,884 5,887,389 SH   SOLE NONE 5,887,389 0 0
HALCON RESOURCES CORP COMMON 40537Q605 3,293 750,000 SH   SOLE NONE 750,000 0 0
HIGHPOINT RESOURCES CORP COMMON 43114K108 6,103 1,003,705 SH   SOLE NONE 1,003,705 0 0
HOVNANIAN K ENTERPRISES INC CL A 442487203 2,323 1,425,205 SH   SOLE NONE 1,425,205 0 0
MIDSTATES PETROLEUM COMPANY, INC COMMON 59804T407 4,100 301,236 SH   SOLE NONE 301,236 0 0
NII HOLDINGS, INC COMMON 62913F508 30,381 7,789,955 SH   SOLE NONE 7,789,955 0 0
PEABODY ENERGY CORP COMMON 704551100 7,021 154,371 SH   SOLE NONE 154,371 0 0
PENN VIRGINIA CORP COMMON 70788V102 10,928 128,733 SH   SOLE NONE 128,733 0 0
SANCHEZ ENERGY CORP COMMON 79970Y105 6,637 1,468,318 SH   SOLE NONE 1,468,318 0 0
SANDRIDGE ENERGY, INC COMMON 80007P869 9,343 526,677 SH   SOLE NONE 526,677 0 0
SANOFI-AVENTIS EXP12/31/2020 RTS 80105N113 2,122 4,243,228 SH   SOLE NONE 4,243,228 0 0
SILVERBOW RESOURCES, INC COMMON 82836G102 6,028 208,742 SH   SOLE NONE 208,742 0 0
TERRAFORM POWER, INC COMMON 88104R209 4,506 385,150 SH   SOLE NONE 385,150 0 0
TETRA TECHNOLOGIES INC COMMON 88162F105 975 219,212 SH   SOLE NONE 219,212 0 0
URBAN ONE INC COMMON 91705J204 3,146 1,498,091 SH   SOLE NONE 1,498,091 0 0
VISTRA ENERGY CORP 35.0000 EXP02/02/2024 COMMON 92840M128 112 92,138 SH Call SOLE NONE 92,138 0 0
VISTRA ENERGY CORP COMMON 92840M102 10,282 434,568 SH   SOLE NONE 434,568 0 0