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
AMBAC FINL GROUP INC COM NEW 023139884 2,053 86,158 SH   SOLE   86,158 0 0
DISH NETWORK CORP CL A 25470M109 6,803 160,000 SH Call SOLE   160,000 0 0
DYNEGY INC NEW DEL *W EXP 99/99/999 26817R116 116 62,714 SH Call SOLE   62,714 0 0
FIRSTENERGY CORP COM 337932107 5,601 150,000 SH Put SOLE   150,000 0 0
LENNAR CORP CL A 526057104 4,505 125,000 SH Call SOLE   125,000 0 0
MAGNUM HUNTER RES CORP DEL COM 55973B102 519 142,143 SH   SOLE   142,143 0 0
NRG ENERGY INC COM NEW 629377508 4,673 175,000 SH   SOLE   175,000 0 0
NRG ENERGY INC COM NEW 629377508 8,010 300,000 SH Call SOLE   300,000 0 0
PULTE GROUP INC COM 745867101 3,794 200,000 SH Call SOLE   200,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 48,126 300,000 SH Put SOLE   300,000 0 0
STANDARD PAC CORP NEW COM 85375C101 1,052,912 126,400,000 SH   SOLE   99,999,999 0 0