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

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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
ASSURED GUARANTY LTD COM G0585R106 100,733,000 2,714,444 SH   DFND 1,2,3,4,5 2,714,444 0 0
BONANZA CREEK ENERGY INC COM 097793103 1,355,808 1,168,800 SH Call DFND 1,2,3,4,5 1,168,800 0 0
C&J ENERGY SVCS INC NEW COM 12674R100 17,913,000 526,092 SH   DFND 1,2,3,4,5 526,092 0 0
COWEN GROUP INC NEW CL A NEW 223622606 17,261,000 1,154,612 SH   DFND 1,2,3,4,5 1,154,612 0 0
DHX MEDIA LTD SHS VAR VTG 252406608 22,161,000 5,340,000 SH   DFND 1,2,3,4,5 5,340,000 0 0
EVERTEC INC COM 30040P103 79,152,000 4,978,134 SH   DFND 1,2,3,4,5 4,978,134 0 0
HEMISPHERE MEDIA GROUP INC CL A 42365Q103 24,052,000 2,046,955 SH   DFND 1,2,3,4,5 2,046,955 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 15,885,000 3,585,697 SH   DFND 1,2,3,4,5 3,585,697 0 0
INSYS THERAPEUTICS INC NEW COM NEW 45824V209 4,756,000 452,546 SH   DFND 1,2,3,4,5 452,546 0 0
KEY ENERGY SVCS INC DEL COM 49309J103 5,229,000 225,185 SH   DFND 1,2,3,4,5 225,185 0 0
LIBERTY MEDIA CORP DELAWARE COM A BRAVES GRP 531229706 19,988,000 834,936 SH   DFND 1,2,3,4,5 834,936 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 48,235,000 2,039,549 SH   DFND 1,2,3,4,5 2,039,549 0 0
MBIA INC COM 55262C100 33,596,000 3,966,421 SH   DFND 1,2,3,4,5 3,966,421 0 0
MOTORCAR PTS AMER INC COM 620071100 55,707,000 1,812,773 SH   DFND 1,2,3,4,5 1,812,773 0 0
NORTHERN OIL & GAS INC NEV COM 665531109 12,492,000 4,804,707 SH   DFND 1,2,3,4,5 4,804,707 0 0
SRC ENERGY INC COM 78470V108 71,078,000 8,421,548 SH   DFND 1,2,3,4,5 8,421,548 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 138,301,000 5,847,832 SH   DFND 1,2,3,4,5 5,847,832 0 0
SEARS HLDGS CORP COM 812350106 32,245,000 2,806,314 SH   DFND 1,2,3,4,5 2,806,314 0 0
SEARS HLDGS CORP *W EXP 12/15/201 812350155 3,229,000 1,094,495 SH   DFND 1,2,3,4,5 1,094,495 0 0
SHUTTERFLY INC COM 82568P304 99,290,000 2,056,113 SH   DFND 1,2,3,4,5 2,056,113 0 0
TRONOX LTD SHS CL A Q9235V101 69,696,000 3,777,578 SH   DFND 1,2,3,4,5 3,777,578 0 0
WHITING PETE CORP NEW COM 966387102 131,363,000 13,886,140 SH   DFND 1,2,3,4,5 13,886,140 0 0
YELP INC CL A 985817105 31,773,000 970,162 SH   DFND 1,2,3,4,5 970,162 0 0