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 1,670 1,000,000 SH   SOLE   1,000,000 0 0
AXIALL CORP COM 05463D100 25,482 600,000 SH   SOLE   600,000 0 0
BARNES & NOBLE INC COM 067774109 44,169 1,902,200 SH Call SOLE   1,902,200 0 0
BLACKSTONE GSO STRATEGIC CR COM SHS BEN IN 09257R101 4,272 259,235 SH   SOLE   259,235 0 0
HALCON RES CORP COM NEW 40537Q209 6,265 3,519,900 SH Call SOLE   3,519,900 0 0
HALCON RES CORP COM NEW 40537Q209 4,005 2,249,915 SH   SOLE   2,249,915 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62196103 18,516 4,505,176 SH   SOLE   4,505,176 0 0
PEABODY ENERGY CORP COM 704549104 12,384 1,600,000 SH Call SOLE   1,600,000 0 0
PROSHARES TR REAL EST NEW 11 74348A871 1,014 79,666 SH   SOLE   79,666 0 0
SAFE BULKERS INC COM Y7388L103 8,245 2,108,721 SH   SOLE   2,108,721 0 0
TALISMAN ENERGY INC COM 87425E103 24,273 3,100,000 SH Call SOLE   3,100,000 0 0
WCI CMNTYS INC COM PAR $0.01 92923C807 1,937 98,909 SH   SOLE   98,909 0 0
WILLBROS GROUP INC DEL COM 969203108 16,942 2,702,088 SH   SOLE   2,702,088 0 0