New Generation Advisors 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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
AMERICAN AIRLINES GROUP INC	COMMON	02376R102	51	1,215	SH		SOLE	NONE	1,215	0	0
APPROACH RESOURCES INC	COMMON	03834A103	4,043	1,610,783	SH		SOLE	NONE	1,610,783	0	0
BANK OF AMERICA CORP 30.7900 EXP10/28/2018	COMMON	060505153	2,816	3,068,148	SH	Call	SOLE	NONE	3,068,148	0	0
BILL BARRETT CORP	COMMON	06846N104	3,565	783,510	SH		SOLE	NONE	783,510	0	0
BLUELINX HLDGS INC	COMMON	09624H208	3,093	339,871	SH		SOLE	NONE	339,871	0	0
BUILDERS FIRSTSOURCE, INC	COMMON	12008R107	7,771	521,540	SH		SOLE	NONE	521,540	0	0
CAESARS ENTERTAINMENT CORP	COMMON	127686103	2,669	279,474	SH		SOLE	NONE	279,474	0	0
CITIGROUP INC 10.6100 EXP01/04/2019	COMMON	172967226	859	5,842,866	SH	Call	SOLE	NONE	5,842,866	0	0
CIVEO CORP	COMMON	17878Y108	8,210	2,745,711	SH		SOLE	NONE	2,745,711	0	0
CONCORDIA INTL CORP	COMMON	20653P102	1,888	1,158,507	SH		SOLE	NONE	1,158,507	0	0
DRYSHIPS INC	COMMON	Y2109Q408	691	418,613	SH		SOLE	NONE	418,613	0	0
DYNEGY INC 35.0000 EXP02/02/2024	COMMON	26817R157	53	92,138	SH	Call	SOLE	NONE	92,138	0	0
FAIRPOINT COMMUNICATIONS INC	COMMON	305560302	19,946	1,201,585	SH		SOLE	NONE	1,201,585	0	0
GENWORTH FINANCIAL INC	CL A	37247D106	4,383	1,063,732	SH		SOLE	NONE	1,063,732	0	0
GLOBALSTAR, INC	COMMON	378973408	8,904	5,564,889	SH		SOLE	NONE	5,564,889	0	0
HORNBECK OFFSHORE SERVICES INC	COMMON	440543106	2,336	527,284	SH		SOLE	NONE	527,284	0	0
INTERNATIONAL SEAWAYS INC	COMMON	Y41053102	7,229	378,111	SH		SOLE	NONE	378,111	0	0
M/I HOMES INC	COMMON	55305B101	6,266	255,770	SH		SOLE	NONE	255,770	0	0
NII HOLDINGS, INC	COMMON	62913F508	3,303	2,540,985	SH		SOLE	NONE	2,540,985	0	0
OVERSEAS SHIPHOLDING GROUP, INC	CL A	69036R863	4,584	1,187,636	SH		SOLE	NONE	1,187,636	0	0
PLY GEM HOLDINGS, INC	COMMON	72941W100	3,807	193,247	SH		SOLE	NONE	193,247	0	0
RADIO ONE, INC	CL D	75040P405	6,095	1,846,989	SH		SOLE	NONE	1,846,989	0	0
SANCHEZ ENERGY CORP	COMMON	79970Y105	6,657	697,748	SH		SOLE	NONE	697,748	0	0
SANDRIDGE ENERGY, INC	COMMON	80007P869	10,088	545,608	SH		SOLE	NONE	545,608	0	0
SANOFI-AVENTIS EXP12/31/2020	RTS	80105N113	1,446	3,213,595	SH		SOLE	NONE	3,213,595	0	0
STAR BULK CARRIERS CORP	COMMON	Y8162K204	3,538	297,798	SH		SOLE	NONE	297,798	0	0
TEEKAY TANKERS LTD	CL A	Y8565N102	1,366	666,185	SH		SOLE	NONE	666,185	0	0
TRAVELPORT WORLDWIDE LTD	COMMON	G9019D104	5,824	494,776	SH		SOLE	NONE	494,776	0	0
TRONC	COMMON	89703P107	4,744	340,834	SH		SOLE	NONE	340,834	0	0
TSAKOS ENERGY NAVIGATION LTD	COMMON	G9108L108	1,683	351,286	SH		SOLE	NONE	351,286	0	0
WMI HOLDINGS CORP	COMMON	92936P100	568	391,638	SH		SOLE	NONE	391,638	0	0