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
ADIENT PLC ORD SHS G0084W101 935 14,303 SH   SOLE 0 14,303 0 0
ADVISORY BRD CO COM 00762W107 2,362 45,857 SH   SOLE 0 45,857 0 0
ALLY FINL INC COM 02005N100 14,651 700,997 SH   SOLE 0 700,997 0 0
AMTRUST FINL SVCS INC COM 032359309 250 16,532 SH   SOLE 0 16,532 0 0
AON PLC SHS CL A G0408V102 27,960 210,303 SH   SOLE 0 210,303 0 0
ARAMARK COM 03852U106 12,992 317,023 SH   SOLE 0 317,023 0 0
ATKORE INTL GROUP INC COM 047649108 9,863 437,397 SH   SOLE 0 437,397 0 0
AXALTA COATING SYS LTD COM G0750C108 17,100 533,719 SH   SOLE 0 533,719 0 0
BALL CORP COM 058498106 17,419 412,671 SH   SOLE 0 412,671 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,714 21,930 SH   SOLE 0 21,930 0 0
BWX TECHNOLOGIES INC COM 05605H100 2,162 44,343 SH   SOLE 0 44,343 0 0
CALPINE CORP COM NEW 131347304 755 55,789 SH   SOLE 0 55,789 0 0
CITIGROUP INC COM NEW 172967424 5,391 80,607 SH   SOLE 0 80,607 0 0
CLEARWATER PAPER CORP COM 18538R103 3,293 70,443 SH   SOLE 0 70,443 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 23,072 1,637,463 SH   SOLE 0 1,637,463 0 0
COMMSCOPE HLDG CO INC COM 20337X109 7,975 209,711 SH   SOLE 0 209,711 0 0
DISCOVER FINL SVCS COM 254709108 1,369 22,009 SH   SOLE 0 22,009 0 0
EAGLE PHARMACEUTICALS INC COM 269796108 1,189 15,067 SH   SOLE 0 15,067 0 0
ECHOSTAR CORP CL A 278768106 834 13,742 SH   SOLE 0 13,742 0 0
ENZO BIOCHEM INC COM 294100102 548 49,664 SH   SOLE 0 49,664 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 6,075 313,784 SH   SOLE 0 313,784 0 0
F M C CORP COM NEW 302491303 3,653 50,000 SH   SOLE 0 50,000 0 0
FERROGLOBE PLC SHS G33856108 16,677 1,395,547 SH   SOLE 0 1,395,547 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 2,868 269,838 SH   SOLE 0 269,838 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 624 25,820 SH   SOLE 0 25,820 0 0
FORTIVE CORP COM 34959J108 291 4,587 SH   SOLE 0 4,587 0 0
GENERAL MTRS CO COM 37045V100 249 7,134 SH   SOLE 0 7,134 0 0
GRAY TELEVISION INC COM 389375106 8,328 607,907 SH   SOLE 0 607,907 0 0
HD SUPPLY HLDGS INC COM 40416M105 16,630 542,930 SH   SOLE 0 542,930 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 2,731 222,067 SH   SOLE 0 222,067 0 0
IAC INTERACTIVECORP COM 44919P508 29,214 282,976 SH   SOLE 0 282,976 0 0
IHS MARKIT LTD SHS G47567105 9,873 224,184 SH   SOLE 0 224,184 0 0
ILG INC COM 44967H101 30,446 1,107,538 SH   SOLE 0 1,107,538 0 0
INSTALLED BLDG PRODS INC COM 45780R101 9,641 182,086 SH   SOLE 0 182,086 0 0
INTREPID POTASH INC COM 46121Y102 2,631 1,164,050 SH   SOLE 0 1,164,050 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 953 6,766 SH   SOLE 0 6,766 0 0
ISHARES TR RUS 2000 GRW ETF 464287648 2,600 15,408 SH   SOLE 0 15,408 0 0
KAR AUCTION SVCS INC COM 48238T109 12,650 301,397 SH   SOLE 0 301,397 0 0
KRATON CORPORATION COM 50077C106 5,702 165,577 SH   SOLE 0 165,577 0 0
LAYNE CHRISTENSEN CO COM 521050104 88 10,000 SH   SOLE 0 10,000 0 0
LIBERTY EXPEDIA HOLDINGS SER A COM 53046P109 1,644 30,432 SH   SOLE 0 30,432 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 2,073 64,534 SH   SOLE 0 64,534 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 3,454 110,768 SH   SOLE 0 110,768 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 610 14,540 SH   SOLE 0 14,540 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 3,037 15,425 SH   SOLE 0 15,425 0 0
MDC PARTNERS INC CL A SUB VTG 552697104 2,822 285,093 SH   SOLE 0 285,093 0 0
MEDALLION FINL CORP COM 583928106 687 287,361 SH   SOLE 0 287,361 0 0
METLIFE INC COM 59156R108 1,072 19,508 SH   SOLE 0 19,508 0 0
MUELLER WTR PRODS INC COM SER A 624758108 8,191 701,256 SH   SOLE 0 701,256 0 0
NATIONAL GEN HLDGS CORP COM 636220303 1,790 84,830 SH   SOLE 0 84,830 0 0
NATUS MEDICAL INC DEL COM 639050103 2,137 57,293 SH   SOLE 0 57,293 0 0
NOMAD FOODS LTD USD ORD SHS G6564A105 13,936 987,653 SH   SOLE 0 987,653 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 202 15,969 SH   SOLE 0 15,969 0 0
OFS CAP CORP COM 67103B100 364 25,435 SH   SOLE 0 25,435 0 0
OLIN CORP COM PAR $1 680665205 12,821 423,406 SH   SOLE 0 423,406 0 0
OM ASSET MGMT PLC SHS G67506108 6,350 427,322 SH   SOLE 0 427,322 0 0
ORBITAL ATK INC COM 68557N103 26,975 274,243 SH   SOLE 0 274,243 0 0
PENTAIR PLC SHS G7S00T104 6,598 99,156 SH   SOLE 0 99,156 0 0
PHILLIPS 66 COM 718546104 558 6,746 SH   SOLE 0 6,746 0 0
QUINTILES IMS HOLDINGS INC COM 74876Y101 28,752 321,255 SH   SOLE 0 321,255 0 0
RAMACO RES INC COM 75134P303 297 49,090 SH   SOLE 0 49,090 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 19,706 307,859 SH   SOLE 0 307,859 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 2,763 42,558 SH   SOLE 0 42,558 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 333 13,490 SH   SOLE 0 13,490 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 22,092 671,499 SH   SOLE 0 671,499 0 0
SIRIUS XM HLDGS INC COM 82968B103 2,120 387,598 SH   SOLE 0 387,598 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 4,884 81,929 SH   SOLE 0 81,929 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,069 9,059 SH   SOLE 0 9,059 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 10,377 42,915 SH   SOLE 0 42,915 0 0
SPX CORP COM 784635104 11,527 458,142 SH   SOLE 0 458,142 0 0
STATE STR CORP COM 857477103 1,205 13,429 SH   SOLE 0 13,429 0 0
TESORO CORP COM 881609101 4,075 43,533 SH   SOLE 0 43,533 0 0
TOWER SEMICONDUCTOR LTD SHS NEW M87915274 1,619 67,890 SH   SOLE 0 67,890 0 0
VOYA FINL INC COM 929089100 22,669 614,513 SH   SOLE 0 614,513 0 0
WAGEWORKS INC COM 930427109 250 3,720 SH   SOLE 0 3,720 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 1,412 18,033 SH   SOLE 0 18,033 0 0
WILLIS TOWERS WATSON PUB LTD SHS G96629103 4,804 33,024 SH   SOLE 0 33,024 0 0