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
AMERICAN AIRLS GROUP INC COM 02376R102 26,895 673,480 SH   SOLE 1 673,480 0 0
AMERICAN CAP LTD COM 02503Y103 3,094 228,316 SH   SOLE 1 228,316 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 4,012 122,308 SH   SOLE 1 122,308 0 0
CASELLA WASTE SYS INC CL A 147448104 2,192 390,803 SH   SOLE 1 390,803 0 0
COOPER STD HLDGS INC COM 21676P103 5,831 94,857 SH   SOLE 1 94,857 0 0
COOPER TIRE & RUBR CO COM 216831107 2,622 77,504 SH   SOLE 1 77,504 0 0
CROSSAMERICA PARTNERS LP UT LTD PTN INT 22758A105 1,873 66,269 SH   SOLE 1 66,269 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 9,974 242,783 SH   SOLE 1 242,783 0 0
EASTMAN KODAK CO *W EXP 09/03/201 277461133 495 121,996 SH   SOLE 1 121,996 0 0
EASTMAN KODAK CO *W EXP 09/03/201 277461141 455 121,996 SH   SOLE 1 121,996 0 0
EASTMAN KODAK CO COM NEW 277461406 29,550 1,758,928 SH   SOLE 1 1,758,928 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 2,030 111,411 SH   SOLE 1 111,411 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 940 31,170 SH   SOLE 1 31,170 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 66,177 2,626,074 SH   SOLE 1 2,626,074 0 0
INTERACTIVE BROKERS GROUP IN COM 45841N107 3,571 85,913 SH   SOLE 1 85,913 0 0
NEWS CORP NEW CL B 65249B208 426 29,915 SH   SOLE 1 29,915 0 0
POPULAR INC COM NEW 733174700 6,812 236,023 SH   SOLE 1 236,023 0 0
RESOLUTE FST PRODS INC COM 76117W109 8,680 771,525 SH   SOLE 1 771,525 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 938 17,654 SH   SOLE 1 17,654 0 0
SERVICE CORP INTL COM 817565104 1,970 66,947 SH   SOLE 1 66,947 0 0
TEEKAY TANKERS LTD CL A Y8565N102 21,536 3,258,152 SH   SOLE 1 3,258,152 0 0
VERSO CORP COM 92531L108 2,306 3,493,653 SH   SOLE 1 3,493,653 0 0