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
DEUTSCHE BANK AG NAMEN AKT D18190898 1,866 229,000 SH   SOLE NONE 229,000 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 1,469 155,600 SH   SOLE NONE 155,600 0 0
FREDS INC CL A 356108100 24,570 13,000,000 SH   SOLE NONE 13,000,000 0 0
GANNETT CO INC COM 36473H104 46,915 5,500,000 SH   SOLE NONE 5,500,000 0 0
GENERAL ELECTRIC CO COM 369604103 1,983 262,000 SH   SOLE NONE 262,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 4,794 28,700 SH   SOLE NONE 28,700 0 0
GREAT ELM CAP CORP COM 390320109 572 72,902 SH   SOLE NONE 72,902 0 0
HALCON RES CORP COM PAR NEW 40537Q605 576 339,000 SH   SOLE NONE 339,000 0 0
TRANSOCEAN LTD REG SHS H8817H100 1,416 204,000 SH   SOLE NONE 204,000 0 0
TRIBUNE PUBG CO NEW COM 89609W107 624 55,000 SH   SOLE NONE 55,000 0 0
TURKCELL ILETISIM HIZMETLERI SPON ADR NEW 900111204 3,995 711,000 SH   SOLE NONE 711,000 0 0