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
AERCAP HOLDINGS NV SHS N00985106 36,295 1,080,531 SH   SOLE 1, 2, 3 1,080,531 0 0
AIR LEASE CORP CL A 00912X302 3,727 139,167 SH   SOLE 1, 2, 3 139,167 0 0
ALLERGAN PLC SHS G0177J108 2,866 12,400 SH   SOLE 1, 2, 3 12,400 0 0
ALPHABET INC CAP STK CL C 02079K107 43,118 62,300 SH   SOLE 1, 2, 3 62,300 0 0
ANTERO RES CORP UNT LTD PARTN 03674X106 14,058 541,100 SH   SOLE 1, 2, 3 541,100 0 0
ANTHEM INC COM 036752103 41,720 317,652 SH   SOLE 1, 2, 3 317,652 0 0
ASBURY AUTOMOTIVE GROUP INC COM 043436104 21,526 408,152 SH   SOLE 1, 2, 3 408,152 0 0
ASSURED GUARANTY LTD COM G0585R106 13,221 521,124 SH   SOLE 1, 2, 3 521,124 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 2,874 103,871 SH   SOLE 1, 2, 3 103,871 0 0
BOSTON SCIENTIFIC CORP COM 101137107 25,240 1,080,000 SH   SOLE 1, 2, 3 1,080,000 0 0
CALPINE CORP COM NEW 131347304 22,018 1,492,758 SH   SOLE 1, 2, 3 1,492,758 0 0
CF INDS HLDGS INC COM 125269100 3,037 126,000 SH   SOLE 1, 2, 3 126,000 0 0
COLONY CAP INC CL A 19624R106 28,242 1,839,844 SH   SOLE 1, 2, 3 1,839,844 0 0
COMPUTER SCIENCES CORP COM 205363104 6,455 130,000 SH   SOLE 1, 2, 3 130,000 0 0
CONCHO RES INC COM 20605P101 15,052 126,200 SH   SOLE 1, 2, 3 126,200 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 41,629 1,142,723 SH   SOLE 1, 2, 3 1,142,723 0 0
DIAMOND RESORTS INTL INC COM 25272T104 11,725 391,347 SH   SOLE 1, 2, 3 391,347 0 0
DYNEGY INC NEW DEL COM 26817R108 10,421 604,443 SH   SOLE 1, 2, 3 604,443 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 13,675 582,165 SH   SOLE 1, 2, 3 582,165 0 0
ENVISION HEALTHCARE HLDGS IN COM 29413U103 6,182 243,665 SH   SOLE 1, 2, 3 243,665 0 0
EQT CORP COM 26884L109 3,097 40,000 SH   SOLE 1, 2, 3 40,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 39,711 267,273 SH   SOLE 1, 2, 3 267,273 0 0
GULFPORT ENERGY CORP COM NEW 402635304 14,383 460,101 SH   SOLE 1, 2, 3 460,101 0 0
HCA HOLDINGS INC COM 40412C101 7,408 96,200 SH   SOLE 1, 2, 3 96,200 0 0
LENNAR CORP CL A 526057104 2,904 63,000 SH   SOLE 1, 2, 3 63,000 0 0
LINKEDIN CORP COM CL A 53578A108 10,882 57,500 SH   SOLE 1, 2, 3 57,500 0 0
MAGNA INTL INC COM 559222401 4,078 116,295 SH   SOLE 1, 2, 3 116,295 0 0
MEMORIAL RESOURCE DEV CORP COM 58605Q109 23,647 1,489,093 SH   SOLE 1, 2, 3 1,489,093 0 0
MFA FINL INC COM 55272X102 9,080 1,249,000 SH   SOLE 1, 2, 3 1,249,000 0 0
MGIC INVT CORP WIS COM 552848103 7,894 1,326,788 SH   SOLE 1, 2, 3 1,326,788 0 0
NAVISTAR INTL CORP NEW PFD SR D CONV 63934EAQ1 3,378 5,000,000 SH   SOLE 1, 2, 3 5,000,000 0 0
NEWFIELD EXPL CO COM 651290108 21,467 485,900 SH   SOLE 1, 2, 3 485,900 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 7,771 761,160 SH   SOLE 1, 2, 3 761,160 0 0
NORTHSTAR RLTY FIN CORP COM 66704R803 2,750 240,553 SH   SOLE 1, 2, 3 240,553 0 0
PARSLEY ENERGY INC CL A 701877102 15,687 579,700 SH   SOLE 1, 2, 3 579,700 0 0
PATTERSON UTI ENERGY INC COM 703481101 6,567 308,000 SH   SOLE 1, 2, 3 308,000 0 0
PBF ENERGY INC CL A 69318G106 7,405 311,399 SH   SOLE 1, 2, 3 311,399 0 0
PDC ENERGY INC COM 69327R101 10,294 178,691 SH   SOLE 1, 2, 3 178,691 0 0
POTASH CORP SASK INC COM 73755L107 1,624 100,000 SH   SOLE 1, 2, 3 100,000 0 0
PPG INDS INC COM 693506107 42,297 406,116 SH   SOLE 1, 2, 3 406,116 0 0
RADIAN GROUP INC COM 750236101 2,065 198,182 SH   SOLE 1, 2, 3 198,182 0 0
SILVER RUN ACQUISITION CORP UNIT 99/99/9999T 82811P200 12,131 1,215,500 SH   SOLE 1, 2, 3 1,215,500 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 83,217 658,000 SH   SOLE 1, 2, 3 658,000 0 0
STARWOOD PPTY TR INC COM 85571B105 23,038 1,111,852 SH   SOLE 1, 2, 3 1,111,852 0 0
TEEKAY OFFSHORE PARTNERS L P PARTNERSHIP UN Y8565J101 4,806 807,803 SH   SOLE 1, 2, 3 807,803 0 0
TERRAFORM PWR INC CL A COM 88104R100 7,306 670,251 SH   SOLE 1, 2, 3 670,251 0 0
TESORO CORP COM 881609101 4,308 57,500 SH   SOLE 1, 2, 3 57,500 0 0
TRAVELCENTERS AMER LLC COM 894174101 430 52,666 SH   SOLE 1, 2, 3 52,666 0 0
TRAVELPORT WORLDWIDE LTD SHS G9019D104 5,619 435,925 SH   SOLE 1, 2, 3 435,925 0 0
UNITED CONTL HLDGS INC COM 910047109 3,796 92,500 SH   SOLE 1, 2, 3 92,500 0 0