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
ARDMORE SHIPPING CORP COM Y0207T100 532 40,000 SH   SOLE   40,000 0 0
BON-TON STORES INC COM 09776J101 2,196 200,000 SH Put SOLE   200,000 0 0
INTELSAT S A COM L5140P101 688 100,000 SH   SOLE   100,000 0 0
ISHARES RUSSELL 2000 ETF 464287655 81,438 700,000 SH Put SOLE   700,000 0 0
NAVIOS MARITIME HOLDINGS INC COM Y62196103 1,970 200,000 SH   SOLE   200,000 0 0
RITE AID CORP COM 767754104 3,135 500,000 SH   SOLE   500,000 0 0