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
ALLY FINANCIAL INC COMMON CMN 02005N100 32,304 1,698,442 SH   SOLE   1,698,442 0 0
ARCH COAL INC COMMON CMN 039380407 5,214 66,797 SH   SOLE   66,797 0 0
DELL TECHNOLOGIES INC-CL V (FMRLY DENALI) COMMON CMN 24703L103 3,478 63,265 SH   SOLE   63,265 0 0
IRSA ADR CMN 450047204 2,690 145,883 SH   SOLE   145,883 0 0
LUXFER ADR CMN 550678106 16,801 1,542,783 SH   SOLE   1,542,783 0 0
NEW HOME CO INC COMMON CMN 645370107 3,227 275,593 SH   SOLE   275,593 0 0
NORTHSTAR REALTY EUROPE CORP REIT CMN 66706L101 7,534 599,349 SH   SOLE   599,349 0 0
SANOFI CVR CMN 80105N113 12,184 32,062,445 SH   SOLE   32,062,445 0 0
SEARS HOLDINGS CORP COMMON CMN 812350106 8,972 965,759 SH   SOLE   965,759 0 0
TENET HEALTHCARE CORP COMMON CMN 88033G407 9,688 652,838 SH   SOLE   652,838 0 0
TRINITY BIOTECH PLC ADR CMN 896438306 5,113 738,829 SH   SOLE   738,829 0 0
UNDER ARMOUR INC CL C COMMON CMN 904311206 2,240 89,002 SH   SOLE   89,002 0 0
VALEANT PHARMACEUTICALS INC COMMON CMN 91911K102 11,151 768,000 SH   SOLE   768,000 0 0
WCI COMMUNITIES INC COMMON CMN 92923C807 46,160 1,968,430 SH   SOLE   1,968,430 0 0
YAHOO! INC COMMON CMN 984332106 30,864 798,135 SH   SOLE   798,135 0 0