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
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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
AMERICAN RLTY CAP PPTYS INC COM 02917t104 36,200 4,000,000 SH   SOLE   4,000,000 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 37,875 1,250,000 SH   SOLE   1,250,000 0 0
CITIZENS FINL GROUP INC COM 174610105 24,860 1,000,000 SH   SOLE   1,000,000 0 0
GENCORP INC COM 368682100 68,625 3,750,000 SH   SOLE   3,750,000 0 0
GENERAL MTRS CO COM 37045V100 61,093 1,750,000 SH   SOLE   1,750,000 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 4,383 87,499 SH   SOLE   87,499 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 8,718 174,999 SH   SOLE   174,999 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 12,345 350,000 SH   SOLE   350,000 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 24,521 700,000 SH   SOLE   700,000 0 0
MCDERMOTT INTERNATIONAL CVT PR PFD CONV 580037141 50,800 4,000,000 SH   SOLE   4,000,000 0 0
NATIONAL GEN HLDGS CORP COM 636220303 60,483 3,250,000 SH   SOLE   3,250,000 0 0
NAVIENT CORP COM 63938C108 48,623 2,250,000 SH   SOLE   2,250,000 0 0
NEWS CORP NEW CL A 65249B109 78,450 5,000,000 SH   SOLE   5,000,000 0 0
QLT INC COM 746927102 13,033 3,250,000 SH   SOLE   3,250,000 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 64,560 1,500,000 SH   SOLE   1,500,000 0 0
SUNCOKE ENERGY INC COM 86722A103 43,902 2,270,000 SH   SOLE   2,270,000 0 0
TRIBUNE MEDIA CO CL A 896047503 50,805 850,000 SH   SOLE   850,000 0 0