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
3-D SYS CORP DEL COM NEW 88554D205 15,562 263,100 SH   DFND 1 263,100 0 0
AERCAP HOLDINGS NV SHS N00985106 13,895 329,337 SH   DFND 1 329,337 0 0
AIR LEASE CORP CL A 00912X302 28,040 751,949 SH   DFND 1 751,949 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 19,032 520,000 SH   DFND 1 520,000 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 8,514 459,700 SH   DFND 1 459,700 0 0
AVIS BUDGET GROUP COM 053774105 26,965 553,694 SH   DFND 1 553,694 0 0
CLIFFS NAT RES INC COM 18683K101 8,603 420,500 SH   DFND 1 420,500 0 0
DIANA SHIPPING INC COM Y2066G104 13,799 1,150,847 SH   DFND 1 1,150,847 0 0
EVRYWARE GLOBAL INC COM 300439106 1,721 377,395 SH   DFND 1 377,395 0 0
GENCORP INC COM 368682100 15,259 835,187 SH   DFND 1 835,187 0 0
GNC HLDGS INC COM CL A 36191G107 5,186 117,805 SH   DFND 1 117,805 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 17,419 653,850 SH   DFND 1 653,850 0 0
MACQUIRE INFRSTRCTR CO LLC MEMBERSHIP INT 55608B105 18,207 317,917 SH   DFND 1 317,917 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 2,120 56,500 SH   DFND 1 56,500 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 28,688 525,800 SH   DFND 1 525,800 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 11,405 643,600 SH   DFND 1 643,600 0 0
U S SILICA HLDGS INC COM 90346E103 11,069 290,000 SH   DFND 1 290,000 0 0
VISTEON CORP COM NEW 92839U206 47,533 537,466 SH   DFND 1 537,466 0 0