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 736 20,743 SH   SOLE   20,743 0 0
ANADARKO PETE CORP COM 032511107 95,832 944,719 SH   SOLE   944,719 0 0
ASIA PACIFIC WIRE & CABLE CO ORD G0535E106 3,375 1,355,415 SH   SOLE   1,355,415 0 0
ATLAS ENERGY LP COM UNITS LP 04930A104 12,720 289,090 SH   SOLE   289,090 0 0
BAKER HUGHES INC COM 057224107 92,786 1,426,161 SH   SOLE   1,426,161 0 0
BALTIC TRADING LIMITED COM Y0553W103 540 130,400 SH   SOLE   130,400 0 0
BLUEKNIGHT ENERGY PARTNERS L COM UNIT 09625U109 29,474 3,576,944 SH   SOLE   3,576,944 0 0
BP PLC SPONSORED ADR 055622104 94,382 2,147,491 SH   SOLE   2,147,491 0 0
BURGER KING WORLDWIDE INC COM 121220107 68,301 2,302,804 SH   SOLE   2,302,804 0 0
CEDAR FAIR L P DEPOSITRY UNIT 150185106 180,197 3,812,073 SH   SOLE   3,812,073 0 0
CITIGROUP INC COM NEW 172967424 19,671 379,612 SH   SOLE   379,612 0 0
COOPER STD HLDGS INC COM 21676P103 36,156 579,423 SH   SOLE   579,423 0 0
COTY INC COM CL A 222070203 67,139 4,056,741 SH   SOLE   4,056,741 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 81,115 2,243,846 SH   SOLE   2,243,846 0 0
DIAMONDBACK ENERGY INC COM 25278X109 27,911 373,240 SH   SOLE   373,240 0 0
DOW CHEM CO COM 260543103 83,457 1,591,476 SH   SOLE   1,591,476 0 0
ENDO INTL PLC SHS G30401106 132,281 1,935,635 SH   SOLE   1,935,635 0 0
EZCORP INC CL A NON VTG 302301106 14,865 1,500,000 SH   SOLE   1,500,000 0 0
FIBROCELL SCIENCE INC COM NEW 315721209 5,010 1,727,644 SH   SOLE   1,727,644 0 0
GENERAL MTRS CO COM 37045V100 57,555 1,801,970 SH   SOLE   1,801,970 0 0
HALLIBURTON CO COM 406216101 67,610 1,048,060 SH   SOLE   1,048,060 0 0
HARBINGER GROUP INC COM 41146A106 100,687 7,674,305 SH   SOLE   7,674,305 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 1,468 400,000 SH   SOLE   400,000 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 19,580 1,007,180 SH   SOLE   1,007,180 0 0
INTERPUBLIC GROUP COS INC COM 460690100 13,253 723,395 SH   SOLE   723,395 0 0
JOURNAL COMMUNICATIONS INC CL A 481130102 21,255 2,521,381 SH   SOLE   2,521,381 0 0
JPMORGAN CHASE & CO COM 46625H100 15,060 250,000 SH   SOLE   250,000 0 0
LIN MEDIA LLC CL A COM 532771102 53,416 2,406,126 SH   SOLE   2,406,126 0 0
LIQUID HLDGS GROUP INC COM 53633A101 8,160 6,000,000 SH   SOLE   6,000,000 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 269,867 4,045,984 SH   SOLE   4,045,984 0 0
MARTEN TRANS LTD COM 573075108 5,343 300,000 SH   SOLE   300,000 0 0
MEDIA GEN INC COM 584404107 11,273 859,857 SH   SOLE   859,857 0 0
MRC GLOBAL INC COM 55345K103 20,349 872,587 SH   SOLE   872,587 0 0
NATIONAL GEN HLDGS CORP COM 636220303 16,890 1,000,000 SH   SOLE   1,000,000 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 123,556 3,056,793 SH   SOLE   3,056,793 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 115,405 6,265,213 SH   SOLE   6,265,213 0 0
NRG YIELD INC COM CL A 62942X108 36,886 783,971 SH   SOLE   783,971 0 0
ORAGENICS INC COM NEW 684023203 2,156 1,725,000 SH   SOLE   1,725,000 0 0
PARAGON SHIPPING INC CL A NEW 69913R408 2,453 614,700 SH   SOLE   614,700 0 0
PARKERVISION INC COM 701354102 2,715 2,381,621 SH   SOLE   2,381,621 0 0
PATTERSON UTI ENERGY INC COM 703481101 63,269 1,944,955 SH   SOLE   1,944,955 0 0
PETROQUEST ENERGY INC COM 716748108 6,163 1,096,700 SH   SOLE   1,096,700 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 37,073 1,209,548 SH   SOLE   1,209,548 0 0
RING ENERGY INC COM 76680V108 19,653 1,333,334 SH   SOLE   1,333,334 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 39,592 507,006 SH   SOLE   507,006 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 349,651 1,774,700 SH Put SOLE   1,774,700 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 226,864 3,296,000 SH Put SOLE   3,296,000 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 200,754 4,574,036 SH   SOLE   4,574,036 0 0
STEALTHGAS INC SHS Y81669106 35,708 3,919,636 SH   SOLE   3,919,636 0 0
SYNTHETIC BIOLOGICS INC COM 87164U102 4,762 2,675,000 SH   SOLE   2,675,000 0 0
TEEKAY CORPORATION COM Y8564W103 33,811 509,516 SH   SOLE   509,516 0 0
TIME WARNER INC COM NEW 887317303 147,923 1,966,801 SH   SOLE   1,966,801 0 0
TRIBUNE PUBG CO COM 896082104 3,302 163,627 SH   SOLE   163,627 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 10,125 100,000 SH   SOLE   100,000 0 0
VIPER ENERGY PARTNERS LP COM UNT RP INT 92763M105 32,439 1,396,426 SH   SOLE   1,396,426 0 0
WILLIAMS COS INC DEL COM 969457100 94,004 1,698,351 SH   SOLE   1,698,351 0 0
ZIOPHARM ONCOLOGY INC COM 98973P101 7,260 2,750,000 SH   SOLE   2,750,000 0 0