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
ALPHA NATURAL RESOURCES INC COM 02076X102 5,100 1,200,000 SH   SOLE   1,200,000 0 0
APOLLO ED GROUP INC CL A 037604105 26,611 777,180 SH   SOLE   777,180 0 0
APOLLO TACTICAL INCOME FD IN COM 037638103 10,258 575,000 SH   SOLE   575,000 0 0
AXIALL CORP COM 05463D100 26,952 600,000 SH   SOLE   600,000 0 0
BIOSCRIP INC COM 09069N108 2,941 421,400 SH   SOLE   421,400 0 0
BLACKSTONE GSO STRATEGIC CR COM SHS BEN IN 09257R101 25,251 1,424,996 SH   SOLE   1,424,996 0 0
EXCO RESOURCES INC COM 269279402 4,512 805,705 SH   SOLE   805,705 0 0
FOREST OIL CORP COM PAR $0.01 346091705 3,437 1,799,690 SH   SOLE   1,799,690 0 0
GENERAL MTRS CO COM 37045V100 43,411 1,261,200 SH Call SOLE   1,261,200 0 0
HALCON RES CORP COM NEW 40537Q209 31,069 7,175,300 SH Call SOLE   7,175,300 0 0
HALCON RES CORP COM NEW 40537Q209 4,330 1,000,000 SH   SOLE   1,000,000 0 0
MILLER ENERGY RES INC COM 600527105 1,250 212,500 SH Put SOLE   212,500 0 0
NABORS INDUSTRIES LTD SHS G6359F103 53,666 2,177,100 SH Call SOLE   2,177,100 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62196103 44,770 4,545,203 SH   SOLE   4,545,203 0 0
NEWFIELD EXPL CO COM 651290108 29,372 936,600 SH Call SOLE   936,600 0 0
PEABODY ENERGY CORP COM 704549104 49,448 3,026,200 SH Call SOLE   3,026,200 0 0
PROSHARES TR REAL EST NEW 11 74348A871 1,436 79,666 SH   SOLE   79,666 0 0
RADIOSHACK CORP COM 750438103 2,332 1,100,000 SH   SOLE   1,100,000 0 0
SAFE BULKERS INC COM Y7388L103 33,320 3,500,000 SH   SOLE   3,500,000 0 0
VALERO ENERGY CORP NEW COM 91913Y100 49,362 929,600 SH Call SOLE   929,600 0 0
WCI CMNTYS INC COM PAR $0.01 92923C807 13,649 690,756 SH   SOLE   690,756 0 0