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
BABCOCK & WILCOX CO NEW COM 05615F102 55,380 2,000,000 SH   SOLE   2,000,000 0 0
CITIZENS FINL GROUP INC COM 174610105 23,420 1,000,000 SH   SOLE   1,000,000 0 0
GENCORP INC COM 368682100 55,895 3,500,000 SH   SOLE   3,500,000 0 0
GENERAL MTRS CO COM 37045V100 51,104 1,600,000 SH   SOLE   1,600,000 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 16,513 350,000 SH   SOLE   350,000 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 32,893 700,000 SH   SOLE   700,000 0 0
MCDERMOTT INTERNATIONAL CVT PR PFD CONV 580037141 54,300 2,500,000 SH   SOLE   2,500,000 0 0
NATIONAL GEN HLDGS CORP COM 636220303 54,893 3,250,000 SH   SOLE   3,250,000 0 0
NAVIENT CORP COM 63938C108 39,848 2,250,000 SH   SOLE   2,250,000 0 0
NEWS CORP NEW CL A 65249B109 65,400 4,000,000 SH   SOLE   4,000,000 0 0
OCWEN FINL CORP COM NEW 675746309 117,810 4,500,000 SH   SOLE   4,500,000 0 0
QLT INC COM 746927102 14,690 3,250,000 SH   SOLE   3,250,000 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 57,090 1,500,000 SH   SOLE   1,500,000 0 0
SUNCOKE ENERGY INC COM 86722A103 44,900 2,000,000 SH   SOLE   2,000,000 0 0