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
SMITH & NEPHEW PLC -SPON ADR Common 83175M205 1,047 28,500 SH   SOLE   28,500 0 0
ACTAVIS PLC Common 097252718 115,985 450,583 SH   SOLE   450,583 0 0
AMERICAN REALTY CAPITAL PROP Common 02917t104 86,599 9,569,000 SH   SOLE   9,569,000 0 0
BARRICK GOLD CORP Common 067901108 42,573 3,960,300 SH   SOLE   3,960,300 0 0
DISH NETWORK CORP-A Common 25470m109 15,069 206,741 SH   SOLE   206,741 0 0
DYNEGY INC Common 26817r108 30,198 995,000 SH   SOLE   995,000 0 0
FMC CORP Common 302491303 137,348 2,408,353 SH   SOLE   2,408,353 0 0
FREEPORT-MCMORAN COPPER Common 35671d857 48,738 2,086,383 SH   SOLE   2,086,383 0 0
FTD COS INC Common 30281v108 59,516 1,709,243 SH   SOLE   1,709,243 0 0
GENERAL MOTORS CO Common 37045v100 90,489 2,592,056 SH   SOLE   2,592,056 0 0
GLOBALSTAR INC Common 378973408 47,122 17,135,212 SH   SOLE   17,135,212 0 0
GULF COAST ULTRA DEEP ROYALT Common 40222t104 6,263 4,931,385 SH   SOLE   4,931,385 0 0
IAC/INTERACTIVECORP Common 44919p508 61,996 1,019,839 SH   SOLE   1,019,839 0 0
LORILLARD INC Common 544147101 56,253 893,754 SH   SOLE   893,754 0 0
MACQUARIE INFRASTRUCTURE CO Common 55608b105 16,500 232,103 SH   SOLE   232,103 0 0
MEADOWBROOK INSURANCE GROUP Common 58319p108 40,673 4,807,631 SH   SOLE   4,807,631 0 0
NATIONAL BANK HOLD-CL A Common 633707104 12,834 661,201 SH   SOLE   661,201 0 0
PFIZER INC Common 717081103 61,057 1,960,105 SH   SOLE   1,960,105 0 0
RADIOSHACK CORP Common 750438103 3,284 8,875,000 SH   SOLE   8,875,000 0 0
THERAVANCE INC Common 88338t104 37,790 2,670,695 SH   SOLE   2,670,695 0 0
TRONOX LTD-CL A Common Q9235V101 53,575 2,243,494 SH   SOLE   2,243,494 0 0
DYNEGY INC-CW17 Common 26817r116 18,237 4,664,219 SH   SOLE   4,664,219 0 0
SPDR GOLD TRUST Common 78463V107 18,905 166,450 SH   SOLE   166,450 0 0
GENERAL MOTORS-CW16 Common 37045V118 161 6,414 SH   SOLE   6,414 0 0
GENERAL MOTORS-CW19 Common 37045V126 109 6,414 SH   SOLE   6,414 0 0