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 112 2,715 SH   SOLE NONE 2,715 0 0
APPROACH RESOURCES INC COMMON 03834A103 4,154 1,862,664 SH   SOLE NONE 1,862,664 0 0
BANK OF AMERICA CORP 30.7900 EXP10/28/2018 COMMON 060505153 298 993,887 SH Call SOLE NONE 993,887 0 0
BLUELINX HLDGS INC COMMON 09624H208 4,938 156,826 SH   SOLE NONE 156,826 0 0
BONANZA CREEK ENERGY, INC COMMON 097793400 2,735 91,841 SH   SOLE NONE 91,841 0 0
C&J OLDCO, INC COMMON 12674R100 2,976 143,100 SH   SOLE NONE 143,100 0 0
CITIGROUP INC. 10.6100 EXP01/04/2019 COMMON 172967226 9 5,944,480 SH Call SOLE NONE 5,944,480 0 0
CIVEO CORP COMMON 17878Y108 11,329 2,729,795 SH   SOLE NONE 2,729,795 0 0
CONSOLIDATED COMMUNICATIONS INC COMMON 209034107 8,623 661,272 SH   SOLE NONE 661,272 0 0
COVIA HOLDINGS CORP COMMON 22305A103 2,406 268,191 SH   SOLE NONE 268,191 0 0
CUMULUS MEDIA INC CL A 231082801 1,034 60,779 SH   SOLE NONE 60,779 0 0
ENSCO PLC CL A G3157S106 6,334 750,416 SH   SOLE NONE 750,416 0 0
GENWORTH FINANCIAL INC CL A 37247D106 9,498 2,277,817 SH   SOLE NONE 2,277,817 0 0
GLOBALSTAR, INC COMMON 378973408 3,003 5,911,789 SH   SOLE NONE 5,911,789 0 0
HALCON RESOURCES CORP COMMON 40537Q605 4,351 973,309 SH   SOLE NONE 973,309 0 0
HIGHPOINT RESOURCES CORP COMMON 43114K108 4,898 1,003,705 SH   SOLE NONE 1,003,705 0 0
HOVNANIAN K ENTERPRISES INC CL A 442487203 2,280 1,425,205 SH   SOLE NONE 1,425,205 0 0
INTELSAT S.A. COMMON L5140P101 6,587 219,573 SH   SOLE NONE 219,573 0 0
MIDSTATES PETROLEUM COMPANY COMMON 59804T407 2,692 302,136 SH   SOLE NONE 302,136 0 0
NII HOLDINGS, INC COMMON 62913F508 41,449 7,073,240 SH   SOLE NONE 7,073,240 0 0
PEABODY ENERGY CORP COMMON 704551100 5,523 154,971 SH   SOLE NONE 154,971 0 0
PENN VIRGINIA CORP COMMON 70788V102 6,313 78,388 SH   SOLE NONE 78,388 0 0
SANCHEZ ENERGY CORP COMMON 79970Y105 3,377 1,468,318 SH   SOLE NONE 1,468,318 0 0
SANDRIDGE ENERGY, INC COMMON 80007P869 5,746 528,577 SH   SOLE NONE 528,577 0 0
SANOFI-AVENTIS EXP12/31/2020 RTS 80105N113 2,262 4,268,228 SH   SOLE NONE 4,268,228 0 0
SILVERBOW RESOURCES, INC COMMON 82836G102 5,582 209,302 SH   SOLE NONE 209,302 0 0
TETRA TECHNOLOGIES INC COMMON 88162F105 5,242 1,162,310 SH   SOLE NONE 1,162,310 0 0
URBAN ONE INC COMMON 91705J204 2,996 1,498,091 SH   SOLE NONE 1,498,091 0 0
VISTRA ENERGY CORP 35.0000 EXP02/02/2024 COMMON 92840M128 136 92,138 SH Call SOLE NONE 92,138 0 0
VISTRA ENERGY CORP COMMON 92840M102 10,846 435,918 SH   SOLE NONE 435,918 0 0