The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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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 |
| ALLY FINL INC | COM | 02005N100 | 21,570 | 1,134,053 | SH | SOLE | 1,134,053 | 0 | 0 | ||
| AMBAC FINL GROUP INC | COM NEW | 023139884 | 4,780 | 212,244 | SH | SOLE | 212,244 | 0 | 0 | ||
| ASSURED GUARANTY LTD | COM | G0585R106 | 17,878 | 472,720 | SH | SOLE | 472,720 | 0 | 0 | ||
| BANK AMER CORP | COM | 060505104 | 9,033 | 407,995 | SH | SOLE | 407,995 | 0 | 0 | ||
| CALPINE CORP | COM NEW | 131347304 | 70,792 | 6,193,521 | SH | SOLE | 6,193,521 | 0 | 0 | ||
| D R HORTON INC | COM | 23331A109 | 16,294 | 596,177 | SH | SOLE | 596,177 | 0 | 0 | ||
| DELTA AIR LINES INC DEL | COM NEW | 247361702 | 28,430 | 577,955 | SH | SOLE | 577,955 | 0 | 0 | ||
| EAGLE BULK SHIPPING INC | SHS NEW | Y2187A143 | 64,902 | 11,094,484 | SH | SOLE | 11,094,484 | 0 | 0 | ||
| FAIRPOINT COMMUNICATIONS INC | COM NEW | 305560302 | 18,719 | 1,001,041 | SH | SOLE | 1,001,041 | 0 | 0 | ||
| FORTRESS INVESTMENT GROUP LL | CL A | 34958B106 | 981 | 201,828 | SH | SOLE | 201,828 | 0 | 0 | ||
| HUNTSMAN CORP | COM | 447011107 | 8,261 | 432,975 | SH | SOLE | 432,975 | 0 | 0 | ||
| KADMON HLDGS INC | COM | 48283N106 | 1,115 | 208,333 | SH | SOLE | 208,333 | 0 | 0 | ||
| LENNAR CORP | CL A | 526057104 | 14,378 | 334,926 | SH | SOLE | 334,926 | 0 | 0 | ||
| LIBERTY INTERACTIVE CORP | QVC GP COM SER A | 53071M104 | 21,645 | 1,083,330 | SH | SOLE | 1,083,330 | 0 | 0 | ||
| MICHAELS COS INC | COM | 59408Q106 | 16,053 | 785,000 | SH | SOLE | 785,000 | 0 | 0 | ||
| NATIONSTAR MTG HLDGS INC | COM | 63861C109 | 2,111 | 116,875 | SH | SOLE | 116,875 | 0 | 0 | ||
| NATURAL RESOURCE PARTNERS L | COM UNIT LTD PAR | 63900P608 | 1,909 | 59,101 | SH | SOLE | 59,101 | 0 | 0 | ||
| PENN NATL GAMING INC | COM | 707569109 | 28,530 | 2,068,879 | SH | SOLE | 2,068,879 | 0 | 0 | ||
| PRICE T ROWE GROUP INC | COM | 74144T108 | 44,289 | 588,485 | SH | SOLE | 588,485 | 0 | 0 | ||
| SPDR S&P 500 ETF TR | PUT | 78462F953 | 355,388 | 1,579,500 | SH | Put | SOLE | 1,579,500 | 0 | 0 | |
| SPDR SERIES TRUST | S&P BIOTECH | 78464A870 | 14,800 | 250,000 | SH | SOLE | 250,000 | 0 | 0 | ||
| TRIBUNE MEDIA CO | CL A | 896047503 | 24,717 | 706,405 | SH | SOLE | 706,405 | 0 | 0 | ||
| VALVOLINE INC | COM | 92047W101 | 17,750 | 824,811 | SH | SOLE | 824,811 | 0 | 0 | ||