Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	2,750,000	$527M	17.1%	—	—	Put	78462F103
—	HOUGHTON MIFFLIN HARCOURT CO	20,087,890	$408M	13.2%	$16.96	—	COM	44157R109
HYG	ISHARES TR	4,000,000	$333M	10.8%	—	—	Call	464288513
EEM	ISHARES TR	5,000,000	$164M	5.3%	—	—	Call	464287234
IWM	ISHARES TR	1,500,000	$164M	5.3%	—	—	Put	464287655
—	WALGREENS BOOTS ALLIANCE INC	1,750,000	$145M	4.7%	$76.20	—	Call	931427108
—	CHENIERE ENERGY PTNRS LP HLD	4,803,000	$91.31M	3.0%	$21.86	—	COM REP LLC IN	16411W108
—	CONNS INC	3,620,657	$87.04M	2.8%	$25.89	—	COM	208242107
LNG	CHENIERE ENERGY INC	1,800,000	$86.94M	2.8%	$50.36	+22.5%	Call	16411R208
—	NORTEK INC	1,371,802	$86.85M	2.8%	$65.92	—	COM NEW	656559309
AIG	AMERICAN INTL GROUP INC	1,500,000	$85.23M	2.8%	—	—	Call	026874784
—	HAMPTON ROADS BANKSHARES INC	42,398,582	$80.56M	2.6%	$1.29	—	COM NEW	409321502
SAIA	SAIA INC	2,191,100	$67.81M	2.2%	$41.33	-7.7%	COM	78709Y105
—	TRAVELPORT WORLDWIDE LTD	4,920,000	$65.04M	2.1%	$16.46	—	SHS	G9019D104
FCX	FREEPORT-MCMORAN INC	6,000,000	$58.14M	1.9%	—	—	Put	35671D857
—	DISH NETWORK CORP	908,190	$52.98M	1.7%	$55.78	—	CL A	25470M109
MEOH	METHANEX CORP	1,500,000	$49.74M	1.6%	—	—	Put	59151K108
ALLY	ALLY FINL INC	2,086,223	$42.52M	1.4%	$17.81	-6.8%	COM	02005N100
VLO	VALERO ENERGY CORP NEW	700,000	$42.07M	1.4%	—	—	Put	91913Y100
LNG	CHENIERE ENERGY INC	791,789	$38.24M	1.2%	$50.36	+22.5%	COM NEW	16411R208
GPK	GRAPHIC PACKAGING HLDG CO	2,408,105	$30.8M	1.0%	$10.31	+38.5%	COM	388689101
—	MARATHON OIL CORP	2,000,000	$30.8M	1.0%	—	—	Put	565849106
—	CONNS INC	1,250,000	$30.05M	1.0%	$25.89	—	Call	208242107
—	METALDYNE PERFORMANCE GROUP	1,366,589	$28.71M	0.9%	$21.01	—	COM	59116R107
OLN	OLIN CORP	1,650,000	$27.74M	0.9%	—	—	Put	680665205
ZBRA	ZEBRA TECHNOLOGIES CORP	305,256	$23.37M	0.8%	$72.03	+31.0%	CL A	989207105
—	SCORPIO BULKERS INC	15,468,300	$22.58M	0.7%	$2.11	—	SHS	Y7546A106
—	DOMTAR CORP	601,203	$21.49M	0.7%	$41.54	—	COM NEW	257559203
—	SCORPIO TANKERS INC	2,203,200	$20.2M	0.7%	$9.17	—	SHS	Y7542C106
—	CBS CORP NEW	500,000	$19.95M	0.6%	—	—	Call	124857202
—	LIBERTY GLOBAL PLC	480,465	$19.71M	0.6%	$40.92	—	SHS CL C	G5480U120
DHT	DHT HOLDINGS INC	2,632,558	$19.53M	0.6%	$1.90	+82.8%	SHS NEW	Y2065G121
LBTYAUSD	LIBERTY GLOBAL PLC	427,952	$18.38M	0.6%	$41.66	—	SHS CL A	G5480U104
—	CHESAPEAKE ENERGY CORP	2,500,000	$18.32M	0.6%	—	—	Put	165167107
—	TESORO CORP	150,000	$14.59M	0.5%	—	—	Put	881609101
—	YRC WORLDWIDE INC	1,100,000	$14.59M	0.5%	—	—	Call	984249607
—	GENER8 MARITIME INC	976,700	$10.7M	0.3%	$13.63	—	COM	Y26889108
—	ALCOA INC	1,000,000	$9.66M	0.3%	—	—	Call	013817101
—	CHESAPEAKE ENERGY CORP	1,000,000	$7.33M	0.2%	—	—	Call	165167107
—	PIONEER NAT RES CO	60,000	$7.298M	0.2%	—	—	Call	723787107
—	NAVISTAR INTL CORP NEW	500,000	$6.36M	0.2%	—	—	Call	63934E108
—	NAVISTAR INTL CORP NEW	6,000,000	$4.237M	0.1%	$0.85	—	NOTE 4.750% 4/1	63934EAS7
—	CALIFORNIA RES CORP	1,000,000	$2.6M	0.1%	$2.60	—	COM	13057Q107
I 5.75 05/01/16 A	INTELSAT S A	120,138	$2.247M	0.1%	$55.00	—	MAN CONV JR PFD	L5140P119
—	WMIH CORP	547,402	$1.423M	0.0%	$2.60	—	COM	92936P100
—	BREITBURN ENERGY PARTNERS LP	339,336	$689K	0.0%	$3.45	—	COM UT LTD PTN	106776107
—	INDEPENDENCE CONTRACT DRIL I	127,500	$635K	0.0%	$6.97	—	COM	453415309
—	TIMMINS GOLD CORP	1,451,700	$357K	0.0%	$0.70	—	COM	88741P103
—	OI S.A.	494,962	$335K	0.0%	$3.19	—	SPN ADR PFD NEW	670851401
—	OI S.A.	388,975	$265K	0.0%	$3.35	—	SPN ADR NEW	670851302