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
ALTISOURCE ASSET MGMT CORP COM 02153X108 1,852 1,723 SH   SOLE   1,723 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 15,317 1,092,500 SH   SOLE   1,092,500 0 0
BERRY PLASTICS GROUP INC COM 08579W103 12,477 538,970 SH   SOLE   538,970 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 4,371 152,020 SH   SOLE   152,020 0 0
BROOKDALE SR LIVING INC COM 112463104 9,083 271,060 SH   SOLE   271,060 0 0
CAESARS ENTMT CORP COM 127686103 4,300 226,200 SH   SOLE   226,200 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 20,151 163,560 SH   SOLE   163,560 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 19,182 155,700 SH Call SOLE   155,700 0 0
CHC GROUP LTD SHS G07021101 10,466 1,416,300 SH   SOLE   1,416,300 0 0
CYRUSONE INC COM 23283R100 18,128 870,271 SH   SOLE   870,271 0 0
ECHOSTAR CORP CL A 278768106 20,060 421,785 SH   SOLE   421,785 0 0
EMERITUS CORP COM 291005106 4,374 139,111 SH   SOLE   139,111 0 0
FIDELITY & GTY LIFE COM 315785105 8,271 350,453 SH   SOLE   350,453 0 0
GASLOG LTD SHS G37585109 40,653 1,745,530 SH   SOLE   1,745,530 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 24,156 2,377,568 SH   SOLE   2,377,568 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 946 251,632 SH   SOLE   251,632 0 0
HILLTOP HOLDINGS INC COM 432748101 8,972 377,149 SH   SOLE   377,149 0 0
ISHARES US REAL ESTATE ETF COM 464287739 47,369 700,000 SH Put SOLE   700,000 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 13,442 330,190 SH   SOLE   330,190 0 0
LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 16,175 560,279 SH   SOLE   560,279 0 0
LORILLARD INC COM 544147101 5,408 100,000 SH   SOLE   100,000 0 0
MORGANS HOTEL GROUP CO COM 61748W108 9,191 1,143,129 SH   SOLE   1,143,129 0 0
NEWS CORP NEW CL A 65249B109 12,104 702,905 SH   SOLE   702,905 0 0
NORTHSTAR RLTY FIN CORP COM 66704R100 22,779 1,411,340 SH   SOLE   1,411,340 0 0
NTELOS HLDGS CORP COM NEW 67020Q305 625 463,000 SH Call SOLE   463,000 0 0
PENNYMAC FINL SVCS INC CL A 70932B101 17,156 1,031,012 SH   SOLE   1,031,012 0 0
RUSH ENTERPRISES INC CL B 781846308 4,710 167,334 SH   SOLE   167,334 0 0
SHENANDOAH TELECOMMUNICATION COM 82312B106 9,478 293,534 SH   SOLE   293,534 0 0
SIRIUS XM HLDGS INC COM 82968B103 7,354 2,298,000 SH   SOLE   2,298,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 280,515 1,500,000 SH Put SOLE   1,500,000 0 0
STARWOOD WAYPOINT RESIDENTL COM SHS 85571W109 12,178 423,009 SH   SOLE   423,009 0 0
VOLCANO CORPORATION COM 928645100 8,993 456,250 SH   SOLE   456,250 0 0