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
CUMULUS MEDIA INC CL A 231082108 2,478 7,993,881 SH   DFND   7,993,881 0 0
DIANA SHIPPING INC COM Y2066G104 1,245 512,400 SH   DFND   512,400 0 0
EAGLE BULK SHIPPING INC SHS NEW 2014 Y2187A127 324 998,543 SH   DFND   998,543 0 0
GENCO SHIPPING & TRADING LTD SHS NEW Y2685T115 1,228 2,154,819 SH   DFND   2,154,819 0 0
JONES ENERGY INC COM CL A 48019R108 1,127 273,435 SH   DFND   273,435 0 0
LAREDO PETROLEUM INC COM 516806106 427 40,714 SH   DFND   40,714 0 0
NOBLE CORP PLC CALL G65431901 824 100,000 SH Call DFND   100,000 0 0
OASIS PETE INC NEW COM 674215108 2,333 249,815 SH   DFND   249,815 0 0
QUORUM HEALTH CORP COM 74909E106 10,710 1,000,000 SH   DFND   1,000,000 0 0
RICE ENERGY INC COM 762760106 574 26,055 SH   DFND   26,055 0 0
TRANSOCEAN LTD REG SHS H8817H100 2,958 248,800 SH   DFND   248,800 0 0
TRANSOCEAN LTD PUT H8817H950 2,958 248,800 SH Put DFND   248,800 0 0
SCORPIO BULKERS INC COM Y7546A122 4,209 1,508,423 SH   DFND   1,508,423 0 0
STAR BULK CARRIERS CORP SHS PAR Y8162K204 128 43,076 SH   DFND   43,076 0 0
SOLARCITY CORP NOTE 1.625%11/0 83416TAC4 1,965 3,000,000 PRN   DFND   3,000,000 0 0
SM ENERGY CO COM 78454L100 567 21,006 SH   DFND   21,006 0 0
SPDR S&P 500 ETF TR PUT 78462F953 209,475 1,000,000 SH Put DFND   1,000,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 14,098 700,000 SH   DFND   700,000 0 0
WEATHERFORD INTL LTD NOTE 5.875% 7/0 947075AH0 51,538 47,500,000 PRN   DFND   47,500,000 0 0
WHITING PETE CORP NEW COM 966387102 406 43,810 SH   DFND   43,810 0 0