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
AMERICAN AIRLS GROUP INC COM 02376R102 27,722 654,598 SH   SOLE 1 654,598 0 0
ARDMORE SHIPPING CORP COM Y0207T100 3,452 271,419 SH   SOLE 1 271,419 0 0
ATWOOD OCEANICS INC COM 050095108 5,105 499,000 SH Put SOLE 1 499,000 0 0
BWX TECHNOLOGIES INC COM 05605H100 1,894 59,623 SH   SOLE 1 59,623 0 0
CAESARS ACQUISITION CO CL A 12768T103 2,155 316,483 SH   SOLE 1 316,483 0 0
CASELLA WASTE SYS INC CL A 147448104 1,594 266,638 SH   SOLE 1 266,638 0 0
CONNS INC COM 208242107 1,247 53,125 SH   SOLE 1 53,125 0 0
CONOCOPHILLIPS COM 20825C104 23,345 500,000 SH Put SOLE 1 500,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 12,307 242,783 SH   SOLE 1 242,783 0 0
EASTMAN KODAK CO *W EXP 09/03/201 277461133 325 117,479 SH   SOLE 1 117,479 0 0
EASTMAN KODAK CO *W EXP 09/03/201 277461141 215 117,479 SH   SOLE 1 117,479 0 0
EASTMAN KODAK CO COM NEW 277461406 23,917 1,907,234 SH   SOLE 1 1,907,234 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 1,304 81,138 SH   SOLE 1 81,138 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 62,509 2,870,028 SH   SOLE 1 2,870,028 0 0
INTERACTIVE BROKERS GROUP IN COM 45841N107 3,135 71,906 SH   SOLE 1 71,906 0 0
SERVICE CORP INTL COM 817565104 1,916 73,649 SH   SOLE 1 73,649 0 0
SIGNET JEWELERS LIMITED SHS G81276100 1,855 15,000 SH Call SOLE 1 15,000 0 0
SOUTHERN COPPER CORP COM 84265V105 7,836 300,000 SH Put SOLE 1 300,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 10,194 50,000 SH Put SOLE 1 50,000 0 0
TEEKAY TANKERS LTD CL A Y8565N102 24,038 3,493,902 SH   SOLE 1 3,493,902 0 0
WESTMORELAND COAL CO COM 960878106 344 58,431 SH   SOLE 1 58,431 0 0