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
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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
AERCAP HOLDINGS NV SHS N00985106 2,519 75,000 SH   SOLE   75,000 0 0
AIR LEASE CORP CL A 00912X302 10,712 400,000 SH   SOLE   400,000 0 0
APOLLO INVT CORP COM 03761U106 554 100,000 SH   SOLE   100,000 0 0
APPLE INC COM 037833100 2,390 25,000 SH   SOLE   25,000 0 0
ASSURED GUARANTY LTD COM G0585R106 10,148 400,000 SH   SOLE   400,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 8,574 135,000 SH   SOLE   135,000 0 0
CITIGROUP INC COM NEW 172967424 5,299 125,000 SH   SOLE   125,000 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 5,492 400,000 SH   SOLE   400,000 0 0
FIRST DATA CORP NEW COM CL A 32008D106 477 43,100 SH   SOLE   43,100 0 0
ION GEOPHYSICAL CORP COM NEW 462044207 233 2,500 SH   SOLE   2,500 0 0
KEYCORP NEW COM 493267108 7,183 650,000 SH   SOLE   650,000 0 0
METLIFE INC COM 59156R108 4,979 125,000 SH   SOLE   125,000 0 0
OCWEN FINL CORP COM NEW 675746309 1,886 1,103,000 SH   SOLE   1,103,000 0 0
OFG BANCORP COM 67103X102 5,414 652,300 SH   SOLE   652,300 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 62,843 3,000 SH Put SOLE   3,000 0 0
UNITED CONTL HLDGS INC COM 910047109 8,208 200,000 SH   SOLE   200,000 0 0