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
CENTRAL EUROPEAN MEDIA ENTRP CL A NEW G20045202 3,182 1,247,960 SH   SOLE   1,247,960 0 0
COLONY CAP INC CL A 19624R106 1,013 50,000 SH   SOLE   50,000 0 0
COMMSCOPE HLDG CO INC COM 20337X109 1,302 35,000 SH   SOLE   35,000 0 0
GOLAR LNG LTD BERMUDA SHS G9456A100 3,785 165,000 SH   SOLE   165,000 0 0
GRAMERCY PPTY TR COM 385002100 1,148 125,000 SH   SOLE   125,000 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 1,170 162,000 SH   SOLE   162,000 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 446 50,000 SH   SOLE   50,000 0 0
INTERNATIONAL SEAWAYS INC COM Y41053102 26,732 1,903,985 SH   SOLE   1,903,985 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 1,122 53,000 SH   SOLE   53,000 0 0
LIBERTY MEDIA CORP DELAWARE COM A BRAVES GRP 531229706 2,129 103,896 SH   SOLE   103,896 0 0
OVERSEAS SHIPHOLDING GROUP I CL A NEW 69036R863 5,251 1,371,083 SH   SOLE   1,371,083 0 0
TURNING PT BRANDS INC COM 90041L105 1,348 110,000 SH   SOLE   110,000 0 0