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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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
BANK NEW YORK MELLON CORP COM 064058100 678,669 18,427,058 SH   SOLE   18,427,058 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 4,677 415,000 SH   DFND   415,000 0 0
COLONY STARWOOD HOMES COM 19625X102 2,970 120,000 SH   DFND   120,000 0 0
CONTINENTAL BLDG PRODS INC COM 211171103 4,936 265,938 SH   DFND   265,938 0 0
EPIQ SYS INC COM 26882D109 4,748 316,100 SH   DFND   316,100 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 160,751 4,874,200 SH   SOLE   4,874,200 0 0
HORIZON GLOBAL CORP COM 44052W104 3,774 300,000 SH   DFND   300,000 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 34,282 589,439 SH   SOLE   589,439 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 67,733 1,168,825 SH   SOLE   1,168,825 0 0
LINDBLAD EXPEDITIONS HLDGS I COM 535219109 2,485 250,000 SH   DFND   250,000 0 0
MACYS INC COM 55616P104 110,879 2,514,826 SH   SOLE   2,514,826 0 0
REALOGY HLDGS CORP COM 75605Y106 59,040 1,635,000 SH   SOLE   1,635,000 0 0
SOTHEBYS COM 835898107 157,864 5,905,871 SH   SOLE   5,905,871 0 0
TRINITY PL HLDGS INC COM 89656D101 32,592 4,723,471 SH   SOLE   4,723,471 0 0
UNITED RENTALS INC COM 911363109 125,776 2,022,440 SH   SOLE   2,022,440 0 0
VIRTUS INVT PARTNERS INC COM 92828Q109 4,632 59,305 SH   DFND   59,305 0 0