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
ALTABA INC COM 021346101 14,588 267,770 SH   SOLE 267,770 0 0
AMBAC FINL GROUP INC COM NEW 023139884 3,031 174,887 SH   SOLE 174,887 0 0
AMC ENTMT HLDGS INC CL A COM 00165C104 17,143 753,535 SH   SOLE 753,535 0 0
CLIFFS NAT RES INC COM 18683K101 21,544 3,113,283 SH   SOLE 3,113,283 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 17,171 319,528 SH   SOLE 319,528 0 0
EAGLE BULK SHIPPING INC SHS NEW Y2187A143 1,394 294,755 SH   SOLE 294,755 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 5,350 341,858 SH   SOLE 341,858 0 0
HUNTSMAN CORP COM 447011107 15,659 606,015 SH   SOLE 606,015 0 0
ISHARES TR PUT 464288953 160,950 1,850,000 SH Put SOLE 1,850,000 0 0
KADMON HLDGS INC COM 48283N106 812 208,333 SH   SOLE 208,333 0 0
LIBERTY INTERACTIVE CORP QVC GP COM SER A 53071M104 15,901 647,960 SH   SOLE 647,960 0 0
MICROSEMI CORP COM 595137100 22,422 479,111 SH   SOLE 479,111 0 0
ORANGE SPONSORED ADR 684060106 398 25,100 SH   SOLE 25,100 0 0
PACCAR INC COM 693718108 17,168 259,960 SH   SOLE 259,960 0 0
PARSLEY ENERGY INC CL A 701877102 17,026 613,977 SH   SOLE 613,977 0 0
PHH CORP COM NEW 693320202 12,678 920,000 SH   SOLE 920,000 0 0
RICE ENERGY INC COM 762760106 22,487 844,423 SH   SOLE 844,423 0 0
SOUTHWESTERN ENERGY CO COM 845467109 8,082 1,329,201 SH   SOLE 1,329,201 0 0
SPDR SERIES TRUST S&P BIOTECH 78464A870 5,433 70,415 SH   SOLE 70,415 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 16,042 2,164,945 SH   SOLE 2,164,945 0 0
TAILORED BRANDS INC COM 87403A107 10,044 900,000 SH   SOLE 900,000 0 0
TEEKAY LNG PARTNERS L P PRTNRSP UNITS Y8564M105 247 16,120 SH   SOLE 16,120 0 0
TELEFONICA BRASIL SA SPONSORED ADR 87936R106 8,094 600,000 SH   SOLE 600,000 0 0
VALEANT PHARMACEUTICALS INTL PUT 91911K952 7,500 600,000 SH Put SOLE 600,000 0 0
VALVOLINE INC COM 92047W101 11,074 466,855 SH   SOLE 466,855 0 0
WIDEOPENWEST INC COM 96758W101 8,341 479,355 SH   SOLE 479,355 0 0