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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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
ATLANTICA YIELD PLC SHS G0751N103 11,384 532,946 SH   SOLE N/A 532,946 0 0
ATLANTICA YIELD PLC SHS G0751N103 30,331 1,420,000 SH Call SOLE N/A 1,420,000 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 3,413 250,000 SH   SOLE N/A 250,000 0 0
DISH NETWORK CORP CL A 25470M109 3,157 50,300 SH   SOLE N/A 50,300 0 0
DISH NETWORK CORP CL A 25470M109 14,309 228,000 SH Call SOLE N/A 228,000 0 0
EURONAV NV ANTWERPEN SHS B38564108 1,975 250,000 SH   SOLE N/A 250,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 58,675 919,100 SH Call SOLE N/A 919,100 0 0
GLOBALSTAR INC COM 378973408 61,562 28,902,200 SH   SOLE N/A 28,902,200 0 0
GOLDEN OCEAN GROUP LTD SHS NEW G39637205 622 92,600 SH   SOLE N/A 92,600 0 0
ISHARES TR IBOXX HI YD ETF 464288513 238,653 2,700,000 SH Put SOLE N/A 2,700,000 0 0
JONES ENERGY INC COM CL A 48019R108 1,570 981,045 SH   SOLE N/A 981,045 0 0
MICRON TECHNOLOGY INC COM 595112103 26,874 900,000 SH   SOLE N/A 900,000 0 0
NAVIOS MARITIME ACQUIS CORP SHS Y62159101 808 549,659 SH   SOLE N/A 549,659 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62196103 4,036 2,945,683 SH   SOLE N/A 2,945,683 0 0
NAVIOS MARITIME PARTNERS L P UNIT LPI Y62267102 2,364 1,486,650 SH   SOLE N/A 1,486,650 0 0
NRG ENERGY INC COM NEW 629377508 1,722 100,000 SH   SOLE N/A 100,000 0 0
NRG ENERGY INC COM NEW 629377508 15,068 875,000 SH Call SOLE N/A 875,000 0 0
NRG YIELD INC CL C 62942X405 6,232 354,105 SH   SOLE N/A 354,105 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 231,208 1,679,800 SH Put SOLE N/A 1,679,800 0 0
SAFE BULKERS INC COM Y7388L103 4,809 2,100,000 SH   SOLE N/A 2,100,000 0 0
SCORPIO BULKERS INC COM Y7546A122 8,464 1,192,100 SH   SOLE N/A 1,192,100 0 0
SCORPIO TANKERS INC SHS Y7542C106 15,331 3,861,800 SH   SOLE N/A 3,861,800 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 232,128 960,000 SH Put SOLE N/A 960,000 0 0
ULTRA PETROLEUM CORP COM NEW 903914208 651 60,000 SH Call SOLE N/A 60,000 0 0
ULTRA PETROLEUM CORP COM NEW 903914208 110,595 10,193,074 SH   SOLE N/A 10,193,074 0 0
VALERO ENERGY CORP NEW COM 91913Y100 14,841 220,000 SH Put SOLE N/A 220,000 0 0