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 38,011 1,122,268 SH   DFND 1,2,3,4,5 1,122,268 0 0
C&J ENERGY SVCS INC NEW COM 12674R100 14,570 435,305 SH   DFND 1,2,3,4,5 435,305 0 0
DHX MEDIA LTD SHS VAR VTG 252406608 18,957 5,340,000 SH   DFND 1,2,3,4,5 5,340,000 0 0
HEMISPHERE MEDIA GROUP INC CL A 42365Q103 23,642 2,046,955 SH   DFND 1,2,3,4,5 2,046,955 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 11,152 3,585,697 SH   DFND 1,2,3,4,5 3,585,697 0 0
KEY ENERGY SVCS INC DEL COM 49309J103 13,476 1,142,995 SH   DFND 1,2,3,4,5 1,142,995 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 42,155 2,119,400 SH   DFND 1,2,3,4,5 2,119,400 0 0
LIBERTY MEDIA CORP DELAWARE COM A BRAVES GRP 531229706 4,596 208,436 SH   DFND 1,2,3,4,5 208,436 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 22,351 1,005,877 SH   DFND 1,2,3,4,5 1,005,877 0 0
MBIA INC COM 55262C100 81,156 11,086,830 SH   DFND 1,2,3,4,5 11,086,830 0 0
MOTORCAR PTS AMER INC COM 620071100 35,195 1,408,371 SH   DFND 1,2,3,4,5 1,408,371 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 124,707 2,430,937 SH   DFND 1,2,3,4,5 2,430,937 0 0
SEARS HLDGS CORP COM 812350106 10,299 2,876,895 SH   DFND 1,2,3,4,5 2,876,895 0 0
SEARS HLDGS CORP *W EXP 12/15/201 812350155 383 1,094,495 SH   DFND 1,2,3,4,5 1,094,495 0 0
SHUTTERFLY INC COM 82568P304 58,748 1,180,860 SH   DFND 1,2,3,4,5 1,180,860 0 0
SRC ENERGY INC COM 78470V108 74,458 8,728,961 SH   DFND 1,2,3,4,5 8,728,961 0 0
TRONOX LTD SHS CL A Q9235V101 31,379 1,529,950 SH   DFND 1,2,3,4,5 1,529,950 0 0
WHITING PETE CORP NEW COM 966387102 144,542 5,458,525 SH   DFND 1,2,3,4,5 5,458,525 0 0
YELP INC CL A 985817105 43,825 1,044,456 SH   DFND 1,2,3,4,5 1,044,456 0 0