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
AIR TRANSPORT SERVICES GRP I COM 00922R105 42,749 1,919,586 SH   SOLE   1,919,586 0 0
CINCINNATI BELL INC NEW PFD CV DEP1/20 171871403 2,514 52,644 SH   SOLE   52,644 0 0
CRAFT BREW ALLIANCE INC COM 224122101 5,099 331,320 SH   SOLE   331,320 0 0
ECHOSTAR CORP CL A 278768106 8,636 308,855 SH   SOLE   308,855 0 0
GILDAN ACTIVEWEAR INC COM 375916103 226 14,612 SH   SOLE   14,612 0 0
GOGO INC NOTE 6.000% 5/1 38046CAD1 13,191 18,957,000 PRN   SOLE   18,957,000 0 0
MOLSON COORS BEVERAGE CO CL B 60871R209 807 23,487 SH   SOLE   23,487 0 0
NAM TAI PPTY INC SHS G63907102 1,270 203,164 SH   SOLE   203,164 0 0
NETSOL TECHNOLOGIES INC COM PAR $.001 64115A402 3,057 1,132,290 SH   SOLE   1,132,290 0 0
RED LION HOTELS CORP COM 756764106 2,811 1,206,225 SH   SOLE   1,206,225 0 0
STAR GROUP L P UNIT LTD PARTNR 85512C105 18,544 2,114,426 SH   SOLE   2,114,426 0 0
TAUBMAN CTRS INC COM 876664103 1,888 50,000 SH Call SOLE   50,000 0 0
VIAD CORP COM NEW 92552R406 13,354 702,098 SH   SOLE   702,098 0 0