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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
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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
AK STL CORP NOTE 5.000%11/1 001546AP5 10,309 5,000,000 PRN   SOLE   5,000,000 0 0
ALIBABA GROUP HLDG LTD PUT 01609W952 10,757 122,500 SH Put SOLE   122,500 0 0
ALLEGHENY TECHNOLOGIES INC NOTE 4.750% 7/0 01741RAG7 65,142 48,750,000 PRN   SOLE   48,750,000 0 0
ALLY FINL INC COM 02005N100 7,561 397,550 SH   SOLE   397,550 0 0
AMERICAN CAP LTD COM 02503Y103 11,314 631,357 SH   SOLE   631,357 0 0
AMTRUST FINL SVCS INC NOTE 2.750%12/1 032359AG6 10,178 12,000,000 PRN   SOLE   12,000,000 0 0
ARCH COAL INC CL A 039380407 8,747 112,070 SH   SOLE   112,070 0 0
B/E AEROSPACE INC COM 073302101 5,092 84,600 SH   SOLE   84,600 0 0
BASIC ENERGY SVCS INC NEW COM NEW 06985P209 63,588 1,798,813 SH   SOLE   1,798,813 0 0
BLACKSTONE MTG TR INC NOTE 5.250%12/0 09257WAA8 15,945 14,300,000 PRN   SOLE   14,300,000 0 0
BOYD GAMING CORP PUT 103304951 2,219 110,000 SH Put SOLE   110,000 0 0
CABELAS INC COM 126804301 14,489 247,470 SH   SOLE   247,470 0 0
CHESAPEAKE ENERGY CORP COM 165167107 90 12,841 SH   SOLE   12,841 0 0
CLIFFS NAT RES INC COM 18683K101 6,766 804,492 SH   SOLE   804,492 0 0
COBALT INTL ENERGY INC NOTE 2.625%12/0 19075FAA4 22,807 58,107,000 PRN   SOLE   58,107,000 0 0
COBALT INTL ENERGY INC NOTE 3.125% 5/1 19075FAB2 4,390 15,679,000 PRN   SOLE   15,679,000 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 891 159,400 SH   SOLE   159,400 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 1,176 71,068 SH   SOLE   71,068 0 0
COMSTOCK RES INC NOTE 7.750% 4/0 205768AM6 1,774 2,039,000 PRN   SOLE   2,039,000 0 0
CORENERGY INFRASTRUCTURE TR NOTE 7.000% 6/1 21870UAA4 18,330 16,348,000 PRN   SOLE   16,348,000 0 0
COWEN GROUP INC NEW NOTE 3.000% 3/1 223622AB7 10,512 10,538,000 PRN   SOLE   10,538,000 0 0
DELL TECHNOLOGIES INC COM CL V 24703L103 10,593 192,704 SH   SOLE   192,704 0 0
ENCORE CAP GROUP INC NOTE 2.875% 3/1 292554AH5 6,520 7,462,000 PRN   SOLE   7,462,000 0 0
ENCORE CAP GROUP INC NOTE 3.000% 7/0 292554AF9 20,076 21,500,000 PRN   SOLE   21,500,000 0 0
ENCORE CAP GROUP INC NOTE 3.000%11/2 292554AD4 30,808 28,776,000 PRN   SOLE   28,776,000 0 0
ENERNOC INC DBCV 2.250% 8/1 292764AB3 3,358 4,250,000 PRN   SOLE   4,250,000 0 0
FLOTEK INDS INC DEL COM 343389102 156 16,600 SH   SOLE   16,600 0 0
GOGO INC COM 38046C109 2,221 240,864 SH   SOLE   240,864 0 0
GOGO INC NOTE 3.750% 3/0 38046CAB5 16,532 22,225,000 PRN   SOLE   22,225,000 0 0
GREEN PLAINS INC NOTE 3.250%10/0 393222AD6 8,633 6,000,000 PRN   SOLE   6,000,000 0 0
GSV CAP CORP NOTE 5.250% 9/1 36191JAB7 7,637 8,245,000 PRN   SOLE   8,245,000 0 0
HARMAN INTL INDS INC COM 413086109 5,113 46,000 SH   SOLE   46,000 0 0
HARMONIC INC NOTE 4.000%12/0 413160AB8 15,636 14,000,000 PRN   SOLE   14,000,000 0 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 53,591 2,315,947 SH   SOLE   2,315,947 0 0
HORNBECK OFFSHORE SVCS INC N NOTE 1.500% 9/0 440543AN6 50,240 70,823,000 PRN   SOLE   70,823,000 0 0
INTEROIL CORP COM 460951106 30,355 637,971 SH   SOLE   637,971 0 0
ISHARES TR PUT 464287955 215,760 1,600,000 SH Put SOLE   1,600,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 5,394 40,000 SH   SOLE   40,000 0 0
JAZZ US HLDGS INC NOTE 8.000%12/3 47216EAA8 18,531 9,506,000 PRN   SOLE   9,506,000 0 0
JONES ENERGY INC COM CL A 48019R108 3,341 668,150 SH   SOLE   668,150 0 0
KEY ENERGY SVCS INC DEL COM 49309J103 20,902 657,085 SH   SOLE   657,085 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 10,297 182,695 SH   SOLE   182,695 0 0
LIBERTY MEDIA CORP DEB 4.000%11/1 530715AG6 13,630 22,907,000 PRN   SOLE   22,907,000 0 0
MEDIA GEN INC NEW COM 58441K100 5,012 266,193 SH   SOLE   266,193 0 0
MGM RESORTS INTERNATIONAL PUT 552953951 5,766 200,000 SH Put SOLE   200,000 0 0
MTGE INVT CORP COM 55378A105 22,211 1,414,713 SH   SOLE   1,414,713 0 0
NII HLDGS INC COM PAR $0.001 62913F508 1,860 865,158 SH   SOLE   865,158 0 0
NXP SEMICONDUCTORS N V COM N6596X109 20,092 205,000 SH   SOLE   205,000 0 0
PAR PACIFIC HOLDINGS INC COM NEW 69888T207 104,073 7,157,688 SH   SOLE   7,157,688 0 0
PDL BIOPHARMA INC NOTE 2.750%12/0 69329YAG9 22,456 27,961,000 PRN   SOLE   27,961,000 0 0
REYNOLDS AMERICAN INC COM 761713106 10,311 184,000 SH   SOLE   184,000 0 0
RYANAIR HLDGS PLC SPONSORED ADR NE 783513203 4,645 55,792 SH   SOLE   55,792 0 0
SAEXPLORATION HLDGS INC COM NEW 78636X204 19,046 2,609,039 SH   SOLE   2,609,039 0 0
SAFEGUARD SCIENTIFICS INC DBCV 5.250% 5/1 786449AK4 7,572 7,316,000 PRN   SOLE   7,316,000 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 1,634 69,386 SH   SOLE   69,386 0 0
SANDRIDGE ENERGY INC NOTE 10/0 80007PBC2 14,325 11,500,000 PRN   SOLE   11,500,000 0 0
SANOFI RIGHT 12/31/2020 80105N113 4,252 11,189,907 SH   SOLE   11,189,907 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 1,214 25,000 SH   SOLE   25,000 0 0
SINA CORP ORD G81477104 8,189 134,706 SH   SOLE   134,706 0 0
SOUTHWESTERN ENERGY CO COM 845467109 463 42,800 SH   SOLE   42,800 0 0
SPDR S&P 500 ETF TR CALL 78462F903 424,707 1,900,000 SH Call SOLE   1,900,000 0 0
SPDR S&P 500 ETF TR PUT 78462F953 639,296 2,860,000 SH Put SOLE   2,860,000 0 0
SPDR SERIES TRUST PUT 78464A958 16,925 500,000 SH Put SOLE   500,000 0 0
SUCAMPO PHARMACEUTICALS INC DBCV 3.250%12/1 864909AA4 3,025 2,840,000 PRN   SOLE   2,840,000 0 0
TESLA MTRS INC NOTE 1.500% 6/0 88160RAA9 29,770 17,146,000 PRN   SOLE   17,146,000 0 0
TESLA MTRS INC PUT 88160R951 5,342 25,000 SH Put SOLE   25,000 0 0
TIME WARNER INC COM NEW 887317303 5,454 56,500 SH   SOLE   56,500 0 0
TITAN MACHY INC NOTE 3.750% 5/0 88830RAB7 13,482 15,191,000 PRN   SOLE   15,191,000 0 0
TRANSOCEAN LTD PUT H8817H950 2,948 200,000 SH Put SOLE   200,000 0 0
TRINA SOLAR LIMITED NOTE 4.000%10/1 89628EAE4 4,619 5,000,000 PRN   SOLE   5,000,000 0 0
TWITTER INC NOTE 0.250% 9/1 90184LAB8 6,545 7,000,000 PRN   SOLE   7,000,000 0 0
VANECK VECTORS ETF TR PUT 92189F958 33,350 1,000,000 SH Put SOLE   1,000,000 0 0
VEDANTA LTD SPONSORED ADR 92242Y100 932 75,036 SH   SOLE   75,036 0 0
YAHOO INC COM 984332106 190,744 4,932,603 SH   SOLE   4,932,603 0 0
YAHOO INC NOTE 12/0 984332AF3 32,539 32,930,000 PRN   SOLE   32,930,000 0 0
YAHOO INC PUT 984332956 29,003 750,000 SH Put SOLE   750,000 0 0