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
Estimated average burden
hours per response: 23.8
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
AERCAP HOLDINGS NV SHS N00985106 486 12,545 SH   SOLE   12,545 0 0
ALCOA INC COM 013817101 100 10,431 SH   SOLE   10,431 0 0
ALLY FINL INC COM 02005N100 10,342 552,469 SH   SOLE   552,469 0 0
AMTRUST FINL SVCS INC COM 032359309 2,078 80,302 SH   SOLE   80,302 0 0
AON PLC SHS CL A G0408V102 39,822 381,250 SH   SOLE   381,250 0 0
ARAMARK COM 03852U106 26,264 792,989 SH   SOLE   792,989 0 0
AXALTA COATING SYS LTD COM G0750C108 24,918 853,355 SH   SOLE   853,355 0 0
BABCOCK & WILCOX ENTERPRIS I COM 05614L100 2,823 131,935 SH   SOLE   131,935 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 7,156 50,435 SH   SOLE   50,435 0 0
BWX TECHNOLOGIES INC COM 05605H100 10,539 314,039 SH   SOLE   314,039 0 0
CALPINE CORP COM NEW 131347304 10,342 681,772 SH   SOLE   681,772 0 0
CAPITAL ONE FINL CORP COM 14040H105 453 6,536 SH   SOLE   6,536 0 0
CBS CORP NEW CL B 124857202 1,178 21,388 SH   SOLE   21,388 0 0
CITIGROUP INC COM NEW 172967424 5,623 134,680 SH   SOLE   134,680 0 0
CLEARWATER PAPER CORP COM 18538R103 14,231 293,363 SH   SOLE   293,363 0 0
COMMSCOPE HLDG CO INC COM 20337X109 16,926 606,216 SH   SOLE   606,216 0 0
CONSOL ENERGY INC COM 20854P109 1,449 128,318 SH   SOLE   128,318 0 0
CVS HEALTH CORP COM 126650100 4,478 43,168 SH   SOLE   43,168 0 0
DIAMOND RESORTS INTL INC COM 25272T104 20,475 842,577 SH   SOLE   842,577 0 0
DISCOVER FINL SVCS COM 254709108 3,787 74,377 SH   SOLE   74,377 0 0
EASTMAN CHEM CO COM 277432100 2,094 28,986 SH   SOLE   28,986 0 0
ECHOSTAR CORP CL A 278768106 632 14,262 SH   SOLE   14,262 0 0
ENCORE CAP GROUP INC COM 292554102 1,597 62,044 SH   SOLE   62,044 0 0
ENSURANCE SPECIALTY HLDGS LT SHS G30397106 2,304 35,255 SH   SOLE   35,255 0 0
ENZO BIOCHEM INC COM 294100102 454 99,890 SH   SOLE   99,890 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 751 26,620 SH   SOLE   26,620 0 0
ESTERLINE TECHNOLOGIES CORP COM 297425100 4,464 69,681 SH   SOLE   69,681 0 0
EXPEDIA INC DEL COM NEW 30212P303 1,789 16,592 SH   SOLE   16,592 0 0
FERROGLOBE PLC SHS G33856108 12,457 1,413,914 SH   SOLE   1,413,914 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 1,285 159,464 SH   SOLE   159,464 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 802 38,024 SH   SOLE   38,024 0 0
HD SUPPLY HLDGS INC COM 40416M105 26,586 803,939 SH   SOLE   803,939 0 0
HONEYWELL INTL INC COM 438516106 1,056 9,420 SH   SOLE   9,420 0 0
IAC INTERACTIVECORP COM 44919P508 25,209 535,456 SH   SOLE   535,456 0 0
IMS HEALTH HLDGS INC COM 44970B109 28,069 1,057,227 SH   SOLE   1,057,227 0 0
INSTALLED BLDG PRODS INC COM 45780R101 11,750 441,564 SH   SOLE   441,564 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 14,162 128,011 SH   SOLE   128,011 0 0
KAR AUCTION SVCS INC COM 48238T109 34,819 912,928 SH   SOLE   912,928 0 0
KINDRED HEALTHCARE INC COM 494580103 1,490 120,613 SH   SOLE   120,613 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 4,584 119,075 SH   SOLE   119,075 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 8,266 220,073 SH   SOLE   220,073 0 0
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 5,017 128,250 SH   SOLE   128,250 0 0
LIBERTY INTERACTIVE CORP QVC GP COM SER A 53071M104 23,021 911,728 SH   SOLE   911,728 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 1,080 27,945 SH   SOLE   27,945 0 0
LOEWS CORP COM 540424108 551 14,391 SH   SOLE   14,391 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 295 3,442 SH   SOLE   3,442 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 3,020 18,153 SH   SOLE   18,153 0 0
MARRIOTT INTL INC NEW CL A 571903202 615 8,645 SH   SOLE   8,645 0 0
METLIFE INC COM 59156R108 2,138 48,660 SH   SOLE   48,660 0 0
NATIONAL GEN HLDGS CORP COM 636220303 5,201 240,919 SH   SOLE   240,919 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 459 46,323 SH   SOLE   46,323 0 0
NEWS CORP NEW CL B 65249B208 659 49,773 SH   SOLE   49,773 0 0
NEWS CORP NEW CL A 65249B109 18,062 1,414,424 SH   SOLE   1,414,424 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 23,833 2,099,806 SH   SOLE   2,099,806 0 0
OFS CAP CORP COM 67103B100 691 53,354 SH   SOLE   53,354 0 0
OLIN CORP COM PAR $1 680665205 19,057 1,097,114 SH   SOLE   1,097,114 0 0
ORBITAL ATK INC COM 68557N103 37,330 429,377 SH   SOLE   429,377 0 0
PENTAIR PLC SHS G7S00T104 10,394 191,558 SH   SOLE   191,558 0 0
PHILLIPS 66 COM 718546104 1,654 19,107 SH   SOLE   19,107 0 0
ROUSE PPTYS INC COM 779287101 808 43,943 SH   SOLE   43,943 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 34,346 667,168 SH   SOLE   667,168 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 3,204 51,771 SH   SOLE   51,771 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 3,707 164,738 SH   SOLE   164,738 0 0
SIMON PPTY GROUP INC NEW COM 828806109 1,504 7,242 SH   SOLE   7,242 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 16,841 547,678 SH   SOLE   547,678 0 0
SIRIUS XM HLDGS INC COM 82968B103 1,630 412,598 SH   SOLE   412,598 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 8,850 159,493 SH   SOLE   159,493 0 0
SKECHERS U S A INC CL A 830566105 709 23,298 SH   SOLE   23,298 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,544 13,129 SH   SOLE   13,129 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 13,645 66,392 SH   SOLE   66,392 0 0
STATE STR CORP COM 857477103 2,307 39,416 SH   SOLE   39,416 0 0
SYNCHRONY FINL COM 87165B103 14,525 506,798 SH   SOLE   506,798 0 0
TEEKAY CORPORATION COM Y8564W103 238 27,461 SH   SOLE   27,461 0 0
TESORO CORP COM 881609101 4,494 52,250 SH   SOLE   52,250 0 0
TOWER SEMICONDUCTOR LTD SHS NEW M87915274 417 34,421 SH   SOLE   34,421 0 0
TRIBUNE MEDIA CO CL A 896047503 843 21,993 SH   SOLE   21,993 0 0
TRIPADVISOR INC COM 896945201 749 11,264 SH   SOLE   11,264 0 0
VALERO ENERGY CORP NEW COM 91913Y100 1,814 28,281 SH   SOLE   28,281 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 2,845 52,605 SH   SOLE   52,605 0 0
VOYA FINL INC COM 929089100 31,444 1,056,233 SH   SOLE   1,056,233 0 0
VWR CORP COM 91843L103 17,273 638,332 SH   SOLE   638,332 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 7,420 88,079 SH   SOLE   88,079 0 0
WESTMORELAND COAL CO COM 960878106 626 86,799 SH   SOLE   86,799 0 0
WILLIS TOWERS WATSON PUB LTD SHS G96629103 8,926 75,226 SH   SOLE   75,226 0 0
XENIA HOTELS & RESORTS INC COM 984017103 797 51,049 SH   SOLE   51,049 0 0