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
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 AIRLS GROUP INC COM 02376R102 891 20,743 SH   SOLE   20,743 0 0
ANADARKO PETE CORP COM 032511107 83,859 766,047 SH   SOLE   766,047 0 0
ASIA PACIFIC WIRE & CABLE CO ORD G0535E106 6,140 1,355,415 SH   SOLE   1,355,415 0 0
ATLAS ENERGY LP COM UNITS LP 04930A104 15,733 350,556 SH   SOLE   350,556 0 0
BAKER HUGHES INC COM 057224107 96,509 1,296,295 SH   SOLE   1,296,295 0 0
BALTIC TRADING LIMITED COM Y0553W103 780 130,400 SH   SOLE   130,400 0 0
BLUEKNIGHT ENERGY PARTNERS L COM UNIT 09625U109 33,015 3,576,944 SH   SOLE   3,576,944 0 0
BP PLC SPONSORED ADR 055622104 113,280 2,147,491 SH   SOLE   2,147,491 0 0
BURGER KING WORLDWIDE INC COM 121220107 22,421 823,690 SH   SOLE   823,690 0 0
CADIZ INC COM NEW 127537207 2,832 340,000 SH   SOLE   340,000 0 0
CANADIAN NAT RES LTD COM 136385101 55,623 1,209,800 SH   SOLE   1,209,800 0 0
CEDAR FAIR L P DEPOSITRY UNIT 150185106 201,659 3,812,073 SH   SOLE   3,812,073 0 0
CHENIERE ENERGY INC COM NEW 16411R208 23,249 324,255 SH   SOLE   324,255 0 0
CITIGROUP INC COM NEW 172967424 17,880 379,612 SH   SOLE   379,612 0 0
COOPER STD HLDGS INC COM 21676P103 38,335 579,423 SH   SOLE   579,423 0 0
COTY INC COM CL A 222070203 41,116 2,400,257 SH   SOLE   2,400,257 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 71,288 1,841,114 SH   SOLE   1,841,114 0 0
DIAMONDBACK ENERGY INC COM 25278X109 39,979 450,219 SH   SOLE   450,219 0 0
DOW CHEM CO COM 260543103 72,675 1,412,259 SH   SOLE   1,412,259 0 0
ENDO INTL PLC SHS G30401106 85,590 1,222,365 SH   SOLE   1,222,365 0 0
EZCORP INC CL A NON VTG 302301106 14,500 1,255,400 SH   SOLE   1,255,400 0 0
FIBROCELL SCIENCE INC COM NEW 315721209 6,893 1,727,644 SH   SOLE   1,727,644 0 0
GENERAL MTRS CO COM 37045V100 65,412 1,801,970 SH   SOLE   1,801,970 0 0
HALLIBURTON CO COM 406216101 81,307 1,145,003 SH   SOLE   1,145,003 0 0
HARBINGER GROUP INC COM 41146A106 97,464 7,674,305 SH   SOLE   7,674,305 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 1,996 400,000 SH   SOLE   400,000 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 23,034 1,202,180 SH   SOLE   1,202,180 0 0
INTERPUBLIC GROUP COS INC COM 460690100 14,113 723,395 SH   SOLE   723,395 0 0
JOURNAL COMMUNICATIONS INC CL A 481130102 22,365 2,521,381 SH   SOLE   2,521,381 0 0
JPMORGAN CHASE & CO COM 46625H100 14,405 250,000 SH   SOLE   250,000 0 0
LIN MEDIA LLC CL A COM 532771102 65,567 2,406,126 SH   SOLE   2,406,126 0 0
LIQUID HLDGS GROUP INC COM 53633A101 11,460 6,000,000 SH   SOLE   6,000,000 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 248,937 3,991,290 SH   SOLE   3,991,290 0 0
MARTEN TRANS LTD COM 573075108 6,705 300,000 SH   SOLE   300,000 0 0
MEDIA GEN INC CL A 584404107 17,653 859,857 SH   SOLE   859,857 0 0
MONSANTO CO NEW COM 61166W101 77,340 620,008 SH   SOLE   620,008 0 0
NATIONAL GEN HLDGS CORP COM 636220303 17,400 1,000,000 SH   SOLE   1,000,000 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 157,761 3,056,793 SH   SOLE   3,056,793 0 0
NOBLE ENERGY INC COM 655044105 53,138 686,005 SH   SOLE   686,005 0 0
NRG YIELD INC COM CL A 62942X108 1,416 27,200 SH   SOLE   27,200 0 0
ORAGENICS INC COM NEW 684023203 3,364 1,725,000 SH   SOLE   1,725,000 0 0
PARAGON SHIPPING INC CL A NEW 69913R408 3,633 614,700 SH   SOLE   614,700 0 0
PARKERVISION INC COM 701354102 3,525 2,381,621 SH   SOLE   2,381,621 0 0
PATTERSON UTI ENERGY INC COM 703481101 50,447 1,443,822 SH   SOLE   1,443,822 0 0
PETROQUEST ENERGY INC COM 716748108 8,247 1,096,700 SH   SOLE   1,096,700 0 0
RING ENERGY INC COM 76680V108 18,760 1,333,334 SH   SOLE   1,333,334 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 41,138 507,006 SH   SOLE   507,006 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 413,403 4,129,900 SH Put SOLE   4,129,900 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 131,200 3,083,440 SH   SOLE   3,083,440 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 525,606 2,685,500 SH Put SOLE   2,685,500 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 202,264 4,574,036 SH   SOLE   4,574,036 0 0
STEALTHGAS INC SHS Y81669106 43,508 3,919,636 SH   SOLE   3,919,636 0 0
SUPERIOR ENERGY SVCS INC COM 868157108 23,226 642,659 SH   SOLE   642,659 0 0
SYNTHETIC BIOLOGICS INC COM 87164U102 4,601 2,675,000 SH   SOLE   2,675,000 0 0
TEEKAY CORPORATION COM Y8564W103 24,588 394,995 SH   SOLE   394,995 0 0
TIME WARNER INC COM NEW 887317303 173,293 2,466,801 SH   SOLE   2,466,801 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 8,952 100,000 SH   SOLE   100,000 0 0
WILLIAMS COS INC DEL COM 969457100 106,560 1,830,611 SH   SOLE   1,830,611 0 0
ZIOPHARM ONCOLOGY INC COM 98973P101 11,083 2,750,000 SH   SOLE   2,750,000 0 0