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
AERCAP HOLDINGS NV SHS N00985106 454 9,904 SH   SOLE   9,904 0 0
ALLISON TRANSMISSION HLDGS I COM 01973R101 5,068 173,220 SH   SOLE   173,220 0 0
AMTRUST FINL SVCS INC COM 032359309 2,692 41,091 SH   SOLE   41,091 0 0
AON PLC SHS CL A G0408V102 43,817 439,579 SH   SOLE   439,579 0 0
AXALTA COATING SYS LTD COM G0750C108 37,200 1,124,551 SH   SOLE   1,124,551 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 10,140 309,136 SH   SOLE   309,136 0 0
BALL CORP COM 058498106 3,510 50,036 SH   SOLE   50,036 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 8,251 60,618 SH   SOLE   60,618 0 0
CALPINE CORP COM NEW 131347304 22,722 1,263,046 SH   SOLE   1,263,046 0 0
CAPITAL ONE FINL CORP COM 14040H105 1,555 17,675 SH   SOLE   17,675 0 0
CBS CORP NEW CL B 124857202 18,099 326,104 SH   SOLE   326,104 0 0
CF INDS HLDGS INC COM 125269100 2,614 40,666 SH   SOLE   40,666 0 0
CHEMTURA CORP COM NEW 163893209 44,188 1,560,873 SH   SOLE   1,560,873 0 0
CITIGROUP INC COM NEW 172967424 7,942 143,771 SH   SOLE   143,771 0 0
CLEAN HARBORS INC COM 184496107 3,113 57,931 SH   SOLE   57,931 0 0
CLEARWATER PAPER CORP COM 18538R103 27,869 486,365 SH   SOLE   486,365 0 0
COMMSCOPE HLDG CO INC COM 20337X109 47,135 1,544,907 SH   SOLE   1,544,907 0 0
CVS HEALTH CORP COM 126650100 4,659 44,418 SH   SOLE   44,418 0 0
DIAMOND RESORTS INTL INC COM 25272T104 4,485 142,151 SH   SOLE   142,151 0 0
DIGITALGLOBE INC COM NEW 25389M877 4,610 165,894 SH   SOLE   165,894 0 0
DISCOVER FINL SVCS COM 254709108 5,228 90,724 SH   SOLE   90,724 0 0
ENZO BIOCHEM INC COM 294100102 360 118,949 SH   SOLE   118,949 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 2,866 111,637 SH   SOLE   111,637 0 0
ESTERLINE TECHNOLOGIES CORP COM 297425100 20,044 210,235 SH   SOLE   210,235 0 0
GLOBE SPECIALTY METALS INC COM 37954N206 42,613 2,407,486 SH   SOLE   2,407,486 0 0
HD SUPPLY HLDGS INC COM 40416M105 41,133 1,169,212 SH   SOLE   1,169,212 0 0
HONEYWELL INTL INC COM 438516106 1,028 10,085 SH   SOLE   10,085 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 1,001 48,747 SH   SOLE   48,747 0 0
HORSEHEAD HLDG CORP COM 440694305 261 22,229 SH   SOLE   22,229 0 0
HUNTSMAN CORP COM 447011107 22,718 1,029,354 SH   SOLE   1,029,354 0 0
IAC INTERACTIVECORP COM PAR $.001 44919P508 57,657 723,785 SH   SOLE   723,785 0 0
IMS HEALTH HLDGS INC COM 44970B109 28,958 944,785 SH   SOLE   944,785 0 0
INNOPHOS HOLDINGS INC COM 45774N108 16,641 316,125 SH   SOLE   316,125 0 0
INSTALLED BLDG PRODS INC COM 45780R101 22,522 920,003 SH   SOLE   920,003 0 0
JASON INDS INC COM 471172106 958 140,634 SH   SOLE   140,634 0 0
KAR AUCTION SVCS INC COM 48238T109 54,292 1,451,658 SH   SOLE   1,451,658 0 0
KINDRED HEALTHCARE INC COM 494580103 23,025 1,134,811 SH   SOLE   1,134,811 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 14,613 288,624 SH   SOLE   288,624 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 9,212 170,369 SH   SOLE   170,369 0 0
LIBERTY INTERACTIVE CORP QVC GP COM SER A 53071M104 20,293 731,273 SH   SOLE   731,273 0 0
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 5,137 130,823 SH   SOLE   130,823 0 0
LIBERTY TRIPADVISOR HLDGS IN COM SER A 531465102 300 9,313 SH   SOLE   9,313 0 0
LOEWS CORP COM 540424108 1,033 26,833 SH   SOLE   26,833 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 2,148 20,754 SH   SOLE   20,754 0 0
MARRIOTT INTL INC NEW CL A 571903202 1,907 25,636 SH   SOLE   25,636 0 0
METLIFE INC COM 59156R108 2,037 36,375 SH   SOLE   36,375 0 0
NATIONAL GEN HLDGS CORP COM 636220303 7,748 371,965 SH   SOLE   371,965 0 0
NEWS CORP NEW CL A 65249B109 33,520 2,297,450 SH   SOLE   2,297,450 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 810 10,410 SH   SOLE   10,410 0 0
OFS CAP CORP COM 67103B100 1,064 88,649 SH   SOLE   88,649 0 0
OLIN CORP COM PAR $1 680665205 12,695 471,068 SH   SOLE   471,068 0 0
ORBITAL ATK INC COM 68557N103 59,951 817,218 SH   SOLE   817,218 0 0
OWENS ILL INC COM NEW 690768403 303 13,187 SH   SOLE   13,187 0 0
PENTAIR PLC SHS G7S00T104 17,532 255,014 SH   SOLE   255,014 0 0
PHILLIPS 66 COM 718546104 1,631 20,246 SH   SOLE   20,246 0 0
REALOGY HLDGS CORP COM 75605Y106 4,196 89,821 SH   SOLE   89,821 0 0
REPUBLIC AWYS HLDGS INC COM 760276105 42,652 4,646,241 SH   SOLE   4,646,241 0 0
ROUSE PPTYS INC COM 779287101 17,785 1,087,742 SH   SOLE   1,087,742 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 53,443 1,006,272 SH   SOLE   1,006,272 0 0
SIGMA DESIGNS INC COM 826565103 464 38,922 SH   SOLE   38,922 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 36,305 1,300,793 SH   SOLE   1,300,793 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 9,959 222,060 SH   SOLE   222,060 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,698 15,114 SH   SOLE   15,114 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 8,732 42,418 SH   SOLE   42,418 0 0
STATE STR CORP COM 857477103 5,536 71,894 SH   SOLE   71,894 0 0
STRAIGHT PATH COMMUNICATNS I CL B 862578101 1,632 49,769 SH   SOLE   49,769 0 0
SUNEDISON INC COM 86732Y109 1,495 49,971 SH   SOLE   49,971 0 0
TESORO CORP COM 881609101 1,234 14,621 SH   SOLE   14,621 0 0
TIME WARNER INC COM NEW 887317303 3,686 42,166 SH   SOLE   42,166 0 0
VALHI INC NEW COM 918905100 176 31,135 SH   SOLE   31,135 0 0
VOYA FINL INC COM 929089100 59,666 1,283,971 SH   SOLE   1,283,971 0 0
VWR CORP COM 91843L103 1,334 49,888 SH   SOLE   49,888 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 9,099 107,757 SH   SOLE   107,757 0 0
WESTMORELAND COAL CO COM 960878106 4,310 207,425 SH   SOLE   207,425 0 0
WILLIAMS COS INC DEL COM 969457100 835 14,555 SH   SOLE   14,555 0 0
XENIA HOTELS & RESORTS INC COM 984017103 934 42,971 SH   SOLE   42,971 0 0