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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
LIBERTY MEDIA CORP DEB 4.000%11/1 530715AG6   7,442 12,081,390 PRN   SOLE   12,081,390 0 0
LIBERTY MEDIA CORP DEB 3.750% 2/1 530715AL5   21,757 36,647,044 PRN   SOLE   36,647,044 0 0
AEGEAN MARINE PETE NETWORK I NOTE 4.000%11/0 Y0020QAA9   8,099 9,500,000 PRN   SOLE   9,500,000 0 0
BEAZER HOMES USA INC COM NEW 07556Q881   12,621 1,093,700 SH   SOLE   1,093,700 0 0
MACYS INC COM 55616P104   17,620 500,000 SH   SOLE   500,000 0 0
BON-TON STORES INC COM 09776J101   1,066 525,000 SH   SOLE   525,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS CL A 18451C109   14,585 2,681,050 SH   SOLE   2,681,050 0 0
SEVENTY SEVEN ENERGY INC COM 818097107   2,045 2,000,000 SH   SOLE   2,000,000 0 0
NMI HLDGS INC CL A 629209305   13,818 2,038,000 SH   SOLE   2,038,000 0 0