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 35,858 668,621 SH   SOLE   668,621 0 0
ANADARKO PETE CORP COM 032511107 26,062 315,904 SH   SOLE   315,904 0 0
ASIA PACIFIC WIRE & CABLE CO ORD G0535E106 3,538 1,355,415 SH   SOLE   1,355,415 0 0
BALTIC TRADING LIMITED COM Y0553W103 327 130,400 SH   SOLE   130,400 0 0
BERRY PLASTICS GROUP INC COM 08579W103 38,031 1,205,406 SH   SOLE   1,205,406 0 0
BLUEKNIGHT ENERGY PARTNERS L COM UNIT 09625U109 23,787 3,576,944 SH   SOLE   3,576,944 0 0
BP PLC SPONSORED ADR 055622104 81,862 2,147,491 SH   SOLE   2,147,491 0 0
CAMPUS CREST CMNTYS INC COM 13466Y105 4,752 650,000 SH   SOLE   650,000 0 0
CARRIZO OIL & GAS INC COM 144577103 5,121 123,110 SH   SOLE   123,110 0 0
CEDAR FAIR L P DEPOSITRY UNIT 150185106 182,331 3,812,073 SH   SOLE   3,812,073 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 1,250 7,505 SH   SOLE   7,505 0 0
CITIGROUP INC COM NEW 172967424 20,541 379,612 SH   SOLE   379,612 0 0
CON-WAY INC COM 205944101 9,471 192,571 SH   SOLE   192,571 0 0
COOPER STD HLDGS INC COM 21676P103 48,007 829,423 SH   SOLE   829,423 0 0
COTY INC COM CL A 222070203 86,454 4,184,612 SH   SOLE   4,184,612 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 65,571 1,333,024 SH   SOLE   1,333,024 0 0
DIAMONDBACK ENERGY INC COM 25278X109 23,425 391,850 SH   SOLE   391,850 0 0
DOW CHEM CO COM 260543103 21,560 472,702 SH   SOLE   472,702 0 0
ENDO INTL PLC SHS G30401106 156,678 2,172,465 SH   SOLE   2,172,465 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 33,809 589,208 SH   SOLE   589,208 0 0
EZCORP INC CL A NON VTG 302301106 17,625 1,500,000 SH   SOLE   1,500,000 0 0
FIBROCELL SCIENCE INC COM NEW 315721209 4,475 1,727,644 SH   SOLE   1,727,644 0 0
GENERAL MTRS CO COM 37045V100 59,656 1,708,856 SH   SOLE   1,708,856 0 0
GENESEE & WYO INC CL A 371559105 51,570 573,507 SH   SOLE   573,507 0 0
GRACE W R & CO DEL NEW COM 38388F108 45,208 473,923 SH   SOLE   473,923 0 0
GULFPORT ENERGY CORP COM NEW 402635304 4,653 111,474 SH   SOLE   111,474 0 0
HARBINGER GROUP INC COM 41146A106 108,668 7,674,305 SH   SOLE   7,674,305 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 1,299 717,900 SH   SOLE   717,900 0 0
INTERPUBLIC GROUP COS INC COM 460690100 15,025 723,395 SH   SOLE   723,395 0 0
JOURNAL COMMUNICATIONS INC CL A 481130102 28,819 2,521,381 SH   SOLE   2,521,381 0 0
JPMORGAN CHASE & CO COM 46625H100 15,645 250,000 SH   SOLE   250,000 0 0
LIQUID HLDGS GROUP INC COM 53633A101 1,890 6,000,000 SH   SOLE   6,000,000 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 291,754 4,104,007 SH   SOLE   4,104,007 0 0
MARKET VECTORS ETF TR OIL SVCS ETF 57060U191 71,840 2,000,000 SH Put SOLE   2,000,000 0 0
MARTEN TRANS LTD COM 573075108 6,558 300,000 SH   SOLE   300,000 0 0
MEDIA GEN INC NEW COM 58441K100 36,397 2,175,526 SH   SOLE   2,175,526 0 0
NATIONAL GEN HLDGS CORP COM 636220303 18,610 1,000,000 SH   SOLE   1,000,000 0 0
NEWFIELD EXPL CO COM 651290108 4,896 180,535 SH   SOLE   180,535 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 158,311 3,056,793 SH   SOLE   3,056,793 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 176,868 7,836,436 SH   SOLE   7,836,436 0 0
NRG YIELD INC COM CL A 62942X108 38,071 807,616 SH   SOLE   807,616 0 0
OLD DOMINION FGHT LINES INC COM 679580100 9,985 128,602 SH   SOLE   128,602 0 0
ORAGENICS INC COM NEW 684023203 1,535 1,725,000 SH   SOLE   1,725,000 0 0
PARAGON SHIPPING INC CL A NEW 69913R408 1,666 614,700 SH   SOLE   614,700 0 0
PARKERVISION INC COM 701354102 2,167 2,381,621 SH   SOLE   2,381,621 0 0
PETROQUEST ENERGY INC COM 716748108 3,728 996,700 SH   SOLE   996,700 0 0
PIONEER NAT RES CO COM 723787107 29,477 198,032 SH   SOLE   198,032 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 19,839 772,564 SH   SOLE   772,564 0 0
RESTAURANT BRANDS INTL INC COM 76131D103 89,002 2,279,775 SH   SOLE   2,279,775 0 0
RING ENERGY INC COM 76680V108 11,427 1,088,266 SH   SOLE   1,088,266 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 432,900 6,000,000 SH Call SOLE   0 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 719,390 3,500,000 SH Call SOLE   0 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 205,540 1,000,000 SH Put SOLE   1,000,000 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 267,535 4,574,036 SH   SOLE   4,574,036 0 0
STEALTHGAS INC SHS Y81669106 24,891 3,944,636 SH   SOLE   3,944,636 0 0
SWIFT TRANSN CO CL A 87074U101 10,289 359,375 SH   SOLE   359,375 0 0
SYNTHETIC BIOLOGICS INC COM 87164U102 5,232 3,583,500 SH   SOLE   3,583,500 0 0
TEEKAY CORPORATION COM Y8564W103 57,824 1,136,252 SH   SOLE   1,136,252 0 0
TIME WARNER INC COM NEW 887317303 168,004 1,966,801 SH   SOLE   1,966,801 0 0
TRIBUNE MEDIA CO CL A 896047503 17,921 299,833 SH   SOLE   299,833 0 0
TRIBUNE PUBG CO COM 896082104 3,747 163,627 SH   SOLE   163,627 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 10,285 100,000 SH   SOLE   100,000 0 0
WILLIAMS COS INC DEL COM 969457100 83,323 1,854,088 SH   SOLE   1,854,088 0 0
WPX ENERGY INC COM 98212B103 9,518 818,378 SH   SOLE   818,378 0 0
ZIOPHARM ONCOLOGY INC COM 98973P101 20,886 4,119,611 SH   SOLE   4,119,611 0 0