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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ALTISOURCE RESIDENTI-CL B-COM02153W10020,324675,000SH SOLE 675,00000
API TECHNOLOGIES CORPCOM00187E2035,6831,666,667SH SOLE 1,666,66700
BIOSCRIP INCCOM09069N1082,960400,000SH SOLE 400,00000
COMSTOCK RESOURCES INCCOM2057682037,316400,000SH SOLE 400,00000
DEX MEDIA INC NEWCOM25213A1078,5611,264,221SH SOLE 1,264,22100
GENERAL MOTORS COCOM37045V100188,2474,606,005SH SOLE 4,606,00500
GENERAL MOTORS COCOM37045V90012,03733,980SHCallSOLE 33,98000
GENERAL MOTORS COWAR EXP 07/10/1637045V1181,67353,732SH SOLE 53,73200
GENERAL MOTORS COWAR EXP 07/10/1937045V1261,24253,732SH SOLE 53,73200
KINDER MORGAN INCCOM49456B10184,7152,353,183SH SOLE 2,353,18300
KINDER MORGAN INCWAR EXP 05/25/1749456B11928,4207,000,000SH SOLE 7,000,00000
NATIONSTAR MORTGAGE HOLDINGSCOM63861C10940,1251,085,638SH SOLE 1,085,63800
NMI HOLDINGS INCCOM62920930569,9705,496,500SH SOLE 5,496,50000
NRG ENERGY INC.COM62937750885,3102,970,396SH SOLE 2,970,39600
OPENTABLE INCCOM68372A1041,37817,356SH SOLE 17,35600
OCCIDENTAL PETROLEUM CORPCOM6745999054491,650SHCallSOLE 1,65000
PENNYMAC MORTGAGE INVESTMENTCOM70931T10381,9673,570,000SH SOLE 3,570,00000
RAYONIER INCCOM7549071031,94946,300SH SOLE 46,30000
REALNETWORKS INCCOM75605L7089,6641,280,000SH SOLE 1,280,00000
VODAPHONE GROUP PLC NEWSPONS ADR92857W209122,7343,122,200SH SOLE 3,122,20000