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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN AIRLS GROUP INC COM 02376R102   1,407,063 109,841 SH   SOLE   109,841 0 0
AMERICAN AIRLS GROUP INC COM 02376R102   258,237 20,159 SH   DFND   20,159 0 0
CLIPPER RLTY INC COM 18885T306   1,061,900 205,000 SH   SOLE   205,000 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870   32,285,953 424,927 SH   SOLE   424,927 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870   5,704,047 75,073 SH   DFND   75,073 0 0