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

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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
ALTA MESA RES INC CL A 02133L109 403 1,517,085 SH   SOLE   1,517,085 0 0
CLIPPER RLTY INC COM 18885T306 1,609 120,179 SH   SOLE   120,179 0 0
CONSTELLIUM NV CL A N22035104 26,334 3,300,000 SH   SOLE   3,300,000 0 0
DYNAGAS LNG PARTNERS LP COM UNIT LTD PT Y2188B108 610 271,251 SH   SOLE   271,251 0 0
HERC HLDGS INC COM 42704L104 27,286 700,000 SH   SOLE   700,000 0 0
LAUREATE EDUCATION INC CL A 518613203 17,964 1,200,000 SH   SOLE   1,200,000 0 0
NATIONAL GEN HLDGS CORP COM 636220303 23,730 1,000,000 SH   SOLE   1,000,000 0 0
NAVIOS MARITIME HLDGS INC COM Y62197119 706 296,587 SH   SOLE   296,587 0 0
PENNEY J C CORP INC COM 708160106 2,235 1,500,000 SH   SOLE   1,500,000 0 0
PG&E CORP COM 69331C108 29,370 1,650,000 SH   SOLE   1,650,000 0 0