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 18,797 314,325 SH   DFND 1 314,325 0 0
AERCAP HOLDINGS NV SHS N00985106 8,534 186,337 SH   DFND 1 186,337 0 0
AIR LEASE CORP CL A 00912X302 23,535 610,024 SH   DFND 1 610,024 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 16,633 387,169 SH   DFND 1 387,169 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 8,684 459,700 SH   DFND 1 459,700 0 0
AVIS BUDGET GROUP COM 053774105 28,844 483,236 SH   DFND 1 483,236 0 0
DIANA SHIPPING INC COM Y2066G104 12,461 1,144,284 SH   DFND 1 1,144,284 0 0
GENCORP INC COM 368682100 15,253 798,606 SH   DFND 1 798,606 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 13,079 209,694 SH   DFND 1 209,694 0 0
METHANEX CORP COM 59151K108 13,698 221,728 SH   DFND 1 221,728 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 2,916 56,500 SH   DFND 1 56,500 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 29,068 522,801 SH   DFND 1 522,801 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 13,541 639,928 SH   DFND 1 639,928 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 45,016 230,000 SH Put DFND 1 230,000 0 0
VISTEON CORP COM NEW 92839U206 53,862 555,216 SH   DFND 1 555,216 0 0