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
ALCOA CORP COM 013872106 5,128 110,000 SH   SOLE N/A 110,000 0 0
ATLANTICA YIELD PLC SHS G0751N103 9,850 500,000 SH Call SOLE N/A 500,000 0 0
ATLANTICA YIELD PLC SHS G0751N103 11,977 607,946 SH   SOLE N/A 607,946 0 0
CITIGROUP INC COM NEW 172967424 6,547 90,000 SH   SOLE N/A 90,000 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 10,364 690,000 SH   SOLE N/A 690,000 0 0
DISH NETWORK CORP CL A 25470M109 2,728 50,300 SH   SOLE N/A 50,300 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 44,324 700,000 SH Call SOLE N/A 700,000 0 0
GLOBALSTAR INC COM 378973408 47,346 29,046,528 SH   SOLE N/A 29,046,528 0 0
GOLDEN OCEAN GROUP LTD SHS NEW G39637205 726 92,600 SH   SOLE N/A 92,600 0 0
JONES ENERGY INC COM CL A 48019R108 1,884 981,045 SH   SOLE N/A 981,045 0 0
MICRON TECHNOLOGY INC COM 595112103 5,310 135,000 SH   SOLE N/A 135,000 0 0
NAVIOS MARITIME ACQUIS CORP SHS Y62159101 671 549,659 SH   SOLE N/A 549,659 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62196103 4,919 2,945,683 SH   SOLE N/A 2,945,683 0 0
NAVIOS MARITIME PARTNERS L P UNIT LPI Y62267102 3,048 1,486,650 SH   SOLE N/A 1,486,650 0 0
NRG ENERGY INC COM NEW 629377508 12,475 487,500 SH   SOLE N/A 487,500 0 0
NRG YIELD INC CL C 62942X405 3,860 200,000 SH   SOLE N/A 200,000 0 0
PIONEER NAT RES CO COM 723787107 12,098 82,000 SH Call SOLE N/A 82,000 0 0
SAFE BULKERS INC COM Y7388L103 5,271 1,923,800 SH   SOLE N/A 1,923,800 0 0
SCORPIO BULKERS INC COM Y7546A122 7,743 1,098,300 SH   SOLE N/A 1,098,300 0 0
SCORPIO TANKERS INC SHS Y7542C106 13,246 3,861,800 SH   SOLE N/A 3,861,800 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 376,845 1,500,000 SH Put SOLE N/A 1,500,000 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 27,027 1,645,000 SH Call SOLE N/A 1,645,000 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 46,681 2,841,197 SH   SOLE N/A 2,841,197 0 0
ULTRA PETROLEUM CORP COM NEW 903914208 87,874 10,135,374 SH   SOLE N/A 10,135,374 0 0