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
AMC NETWORKS INC CL A 00164V103 46 769 SH   OTR 1,2 0 769 0
CIT GROUP INC COM NEW 125581801 200 6,264 SH   OTR 1,2 0 6,264 0
CLUBCORP HLDGS INC COM 18948M108 1,130 86,927 SH   OTR 1,2 0 86,927 0
CST BRANDS INC COM 12646R105 726 16,860 SH   OTR 1,2 0 16,860 0
DELTA AIR LINES INC DEL COM NEW 247361702 413 11,324 SH   OTR 1,2 0 11,324 0
DEPOMED INC COM 249908104 92 4,673 SH   OTR 1,2 0 4,673 0
DIAMOND RESORTS INTL INC COM 25272T104 18 602 SH   OTR 1,2 0 602 0
DIAMOND RESORTS INTL INC COM 25272T104 458 15,300 SH Call OTR 1,2 0 15,300 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 34 5,500 SH Call OTR 1,2 0 5,500 0
FOREST CITY RLTY TR INC COM CL A 345605109 55 2,456 SH   OTR 1,2 0 2,456 0
GRACE W R & CO DEL NEW COM 38388F108 152 2,072 SH   OTR 1,2 0 2,072 0
HEADWATERS INC COM 42210P102 350 19,528 SH   OTR 1,2 0 19,528 0
HOLLYFRONTIER CORP COM 436106108 30 1,273 SH   OTR 1,2 0 1,273 0
HOLLYFRONTIER CORP COM 436106108 36 1,500 SH Call OTR 1,2 0 1,500 0
INNOPHOS HOLDINGS INC COM 45774N108 41 983 SH   OTR 1,2 0 983 0
ISHARES TR RUSSELL 2000 ETF 464287655 2,070 18,000 SH Put OTR 1,2 0 18,000 0
JASON INDS INC COM 471172106 133 36,972 SH   OTR 1,2 0 36,972 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 748 14,525 SH   OTR 1,2 0 14,525 0
NOMAD HLDGS LTD USD ORD SHS G6564A105 303 37,984 SH   OTR 1,2 0 37,984 0
NORTH AMERN ENERGY PARTNERS COM 656844107 185 65,500 SH   OTR 1,2 0 65,500 0
NORTHSTAR RLTY FIN CORP COM 66704R803 345 30,192 SH   OTR 1,2 0 30,192 0
PENN WEST PETE LTD NEW COM 707887105 973 700,000 SH   OTR 1,2 0 700,000 0
POWERSHS DB US DOLLAR INDEX DOLL INDX BULL 73936D107 633 25,500 SH Call OTR 1,2 0 25,500 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 91 4,000 SH Put OTR 1,2 0 4,000 0
SONY CORP ADR NEW 835699307 255 8,673 SH   OTR 1,2 0 8,673 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 5,886 28,100 SH Put OTR 1,2 0 28,100 0
TIER REIT INC COM NEW 88650V208 108 7,027 SH   OTR 1,2 0 7,027 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 84 3,090 SH   OTR 1,2 0 3,090 0
VEREIT INC COM 92339V100 77 7,569 SH   OTR 1,2 0 7,569 0
WHITING PETE CORP NEW COM 966387102 205 22,185 SH   OTR 1,2 0 22,185 0