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 1,796 5,790 SH   SOLE   5,790 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 15,332 790,300 SH   SOLE   790,300 0 0
BERRY PLASTICS GROUP INC COM 08579W103 20,039 635,160 SH   SOLE   635,160 0 0
BROOKDALE SR LIVING INC COM 112463104 24,354 664,139 SH   SOLE   664,139 0 0
CHC GROUP LTD SHS G07021101 3,183 988,613 SH   SOLE   988,613 0 0
CHC GROUP LTD SHS G07021101 4,830 1,500,000 SH Call SOLE   1,500,000 0 0
CITIZENS FINL GROUP INC COM 174610105 21,622 869,750 SH   SOLE   869,750 0 0
CYRUSONE INC COM 23283R100 33,776 1,225,991 SH   SOLE   1,225,991 0 0
ECHOSTAR CORP CL A 278768106 21,176 403,345 SH   SOLE   403,345 0 0
ECHOSTAR CORP CL A 278768106 14,632 278,700 SH Call SOLE   278,700 0 0
ENDO INTL PLC SHS G30401106 19,151 265,550 SH   SOLE   265,550 0 0
ENDO INTL PLC SHS G30401106 570 7,900 SH Call SOLE   7,900 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 9,914 386,200 SH   SOLE   386,200 0 0
FIDELITY COMWLTH TR COM 315785105 10,120 416,993 SH   SOLE   416,993 0 0
GASLOG LTD SHS G37585109 14,642 719,526 SH   SOLE   719,526 0 0
GRAHAM HLDGS CO COM 384637104 14,856 17,200 SH   SOLE   17,200 0 0
GRAND CANYON ED INC COM 38526M106 3,406 73,000 SH   SOLE   73,000 0 0
HILLTOP HOLDINGS INC COM 432748101 10,750 538,849 SH   SOLE   538,849 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 71,772 600,000 SH Put SOLE   600,000 0 0
KAPSTONE PAPER & PACKAGING C COM 48562P103 18,286 623,870 SH   SOLE   623,870 0 0
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 8,298 220,000 SH   SOLE   220,000 0 0
LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 21,872 743,429 SH   SOLE   743,429 0 0
MORGANS HOTEL GROUP CO COM 61748W108 8,020 1,022,929 SH   SOLE   1,022,929 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 29,563 1,309,819 SH   SOLE   1,309,819 0 0
PENNYMAC FINL SVCS INC CL A 70932B101 27,165 1,570,243 SH   SOLE   1,570,243 0 0
RUSH ENTERPRISES INC CL B 781846308 4,622 164,134 SH   SOLE   164,134 0 0
SHENANDOAH TELECOMMUNICATION COM 82312B106 17,239 551,636 SH   SOLE   551,636 0 0
SIRIUS XM HLDGS INC COM 82968B103 20,618 5,890,800 SH   SOLE   5,890,800 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 163,404 795,000 SH Put SOLE   795,000 0 0
STARWOOD WAYPOINT RESIDENTL COM SHS 85571W109 16,089 610,109 SH   SOLE   610,109 0 0
VOYA FINL INC COM 929089100 17,359 409,600 SH   SOLE   409,600 0 0