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
ABERCROMBIE & FITCH CO CL A 002896207 636 36,464 SH   SOLE 1 36,464 0 0
ALCOA CORP COM 013872106 2,504 46,491 SH   SOLE 1 46,491 0 0
ARCHROCK INC COM 03957W106 2,638 251,274 SH   SOLE 1 251,274 0 0
BASIC ENERGY SVCS INC NEW COM NEW 06985P209 15,072 642,176 SH   SOLE 1 642,176 0 0
BRASKEM S A SP ADR PFD A 105532105 73,602 2,802,801 SH   SOLE 1 2,802,801 0 0
CAESARS ENTMT CORP NOTE 5.000%10/0 127686AA1 29,824 15,417,675 SH   SOLE 1 15,417,675 0 0
CAESARS ENTMT CORP COM 127686103 42,917 3,392,655 SH   SOLE 1 3,392,655 0 0
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 1,509 615,765 SH   SOLE 1 615,765 0 0
COMMSCOPE HLDG CO INC COM 20337X109 1,707 45,124 SH   SOLE 1 45,124 0 0
COMSTOCK RES INC NOTE 7.750% 4/0 205768AM6 18,041 19,716,516 SH   SOLE 1 19,716,516 0 0
COMSTOCK RES INC COM 205768302 1,328 157,016 SH   SOLE 1 157,016 0 0
COMSTOCK RES INC NOTE 9.500% 6/1 205768AN4 11,965 13,076,269 SH   SOLE 1 13,076,269 0 0
CONSTELLIUM NV CL A N22035104 3,234 290,050 SH   SOLE 1 290,050 0 0
GERDAU S A SPON ADR REP PFD 373737105 37,773 10,153,973 SH   SOLE 1 10,153,973 0 0
GOL LINHAS AEREAS INTLG S A SPON ADR PFD NEW 38045R206 50,830 5,802,455 SH   SOLE 1 5,802,455 0 0
JONES ENERGY INC COM CL A 48019R108 1,744 1,585,465 SH   SOLE 1 1,585,465 0 0
KEY ENERGY SVCS INC DEL COM 49309J103 26,966 2,287,185 SH   SOLE 1 2,287,185 0 0
KRATON CORPORATION COM 50077C106 3,881 80,574 SH   SOLE 1 80,574 0 0
VANECK VECTORS ETF TR OIL SVCS ETF 92189F718 20,189 775,000 SH   SOLE 1 775,000 0 0
PARTY CITY HOLDCO INC COM 702149105 1,247 89,400 SH   SOLE 1 89,400 0 0
PEABODY ENERGY CORP NEW COM 704551100 192,651 4,893,353 SH   SOLE 1 4,893,353 0 0
PEABODY ENERGY CORP NEW 8.5% PFD CONV A 704551407 199,957 2,697,543 SH   SOLE 1 2,697,543 0 0
PENN VA CORP NEW COM 70788V102 43,728 1,118,075 SH   SOLE 1 1,118,075 0 0
QUORUM HEALTH CORP COM 74909E106 818 131,165 SH   SOLE 1 131,165 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 2,022 133,375 SH   SOLE 1 133,375 0 0
TERNIUM SA SPON ADR 880890108 63,275 2,002,992 SH   SOLE 1 2,002,992 0 0
VALE S A ADR 91912E105 96,222 7,867,700 SH   SOLE 1 7,867,700 0 0
VALE S A ADR 91912E105 41,466 3,390,500 SH Call SOLE 1 3,390,500 0 0
VISTRA ENERGY CORP COM 92840M102 32,130 1,753,847 SH   SOLE 1 1,753,847 0 0
WILLSCOT CORP COM 971375126 3,540 278,735 SH   SOLE 1 278,735 0 0
WILLSCOT CORP *W EXP 09/10/202 971375118 559 387,955 SH   SOLE 1 387,955 0 0