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
ALCOA CORP COM 013872106 9,094 225,100 SH   SOLE   225,100 0 0
ALCOA CORP COM 013872106 17,675 437,500 SH   DFND 1 437,500 0 0
ALLEGHENY TECHNOLOGIES INC NOTE 4.750% 7/0 01741RAG7 16,345 7,500,000 PRN   DFND 1 7,500,000 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 1,108 37,500 SH   SOLE   37,500 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 12,854 435,000 SH   DFND 1 435,000 0 0
ARCONIC INC COM 03965L100 11,918 541,500 SH   SOLE   541,500 0 0
ARCONIC INC COM 03965L100 27,336 1,242,000 SH   DFND 1 1,242,000 0 0
ASCENT CAP GROUP INC COM SER A 043632108 218 123,000 SH   SOLE   123,000 0 0
ASCENT CAP GROUP INC COM SER A 043632108 1,823 1,030,000 SH   DFND 1 1,030,000 0 0
ASSURED GUARANTY LTD COM G0585R106 494 11,700 SH   SOLE   11,700 0 0
ASSURED GUARANTY LTD COM G0585R106 12,669 300,000 SH   DFND 1 300,000 0 0
BONANZA CREEK ENERGY INC COM NEW 097793400 14,637 491,514 SH   SOLE   491,514 0 0
CAESARS ENTMT CORP COM 127686103 6,765 660,000 SH   DFND 1 660,000 0 0
CANADIAN SOLAR INC COM 136635109 3,306 228,000 SH   SOLE   228,000 0 0
CHENIERE ENERGY INC COM NEW 16411R208 25,628 368,800 SH   SOLE   368,800 0 0
CONSTELLIUM NV CL A N22035104 13,770 1,115,000 SH   DFND 1 1,115,000 0 0
CONSTELLIUM NV CL A N22035104 414 33,500 SH   SOLE   33,500 0 0
CONTINENTAL RESOURCES INC COM 212015101 819 12,000 SH Put SOLE   12,000 0 0
CUMULUS MEDIA INC COM CLASS A 231082801 22,435 1,318,177 SH   SOLE   1,318,177 0 0
CUMULUS MEDIA INC COM CLASS A 231082801 3,608 212,011 SH   DFND 2 212,011 0 0
CUMULUS MEDIA INC COM CLASS A 231082801 10,147 596,171 SH   DFND 1 596,171 0 0
DELL TECHNOLOGIES INC COM CL V 24703L103 11,070 113,985 SH   SOLE   113,985 0 0
DELL TECHNOLOGIES INC COM CL V 24703L103 23,718 244,215 SH   DFND 1 244,215 0 0
DIEBOLD NXDF INC COM 253651103 2,250 500,000 SH   DFND 1 500,000 0 0
DONNELLEY R R & SONS CO COM 257867200 1,431 265,000 SH   DFND 1 265,000 0 0
DONNELLEY R R & SONS CO COM 257867200 6,676 1,236,364 SH   SOLE   1,236,364 0 0
ENSCO PLC SHS CLASS A G3157S106 10,990 1,302,113 SH   SOLE   1,302,113 0 0
FERRO CORP COM 315405100 528 22,750 SH   SOLE   22,750 0 0
FERRO CORP COM 315405100 12,074 520,000 SH   DFND 1 520,000 0 0
FORTERRA INC COM 34960W106 9,549 1,280,000 SH   DFND 1 1,280,000 0 0
FORTERRA INC COM 34960W106 448 60,000 SH   SOLE   60,000 0 0
GENWORTH FINL INC COM CL A 37247D106 417 100,000 SH   DFND 1 100,000 0 0
HALCON RES CORP COM PAR NEW 40537Q605 6,169 1,380,000 SH   DFND 1 1,380,000 0 0
HALCON RES CORP COM PAR NEW 40537Q605 16,268 3,639,470 SH   SOLE   3,639,470 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 2,787 15,000 SH Call SOLE   15,000 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 1,170 6,300 SH Put SOLE   6,300 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 83,606 450,000 SH Put DFND 1 450,000 0 0
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204 1,749 103,175 SH   SOLE   103,175 0 0
IRSA PROPIEDADES COMERCIALES SPONSORED ADR 463588103 478 20,000 SH   SOLE   20,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 2,334 27,000 SH   SOLE   27,000 0 0
KROGER CO COM 501044101 29,110 1,000,000 SH Call DFND 1 1,000,000 0 0
LIBBEY INC COM 529898108 12,430 1,420,597 SH   DFND 1 1,420,597 0 0
LIBBEY INC COM 529898108 794 90,699 SH   SOLE   90,699 0 0
LIBERTY MEDIA CORP DEB 3.750% 2/1 530715AL5 12,247 18,010,000 PRN   DFND 2 18,010,000 0 0
LIBERTY MEDIA CORP DEB 4.000%11/1 530715AG6 25,680 37,353,000 PRN   SOLE   37,353,000 0 0
LIBERTY MEDIA CORP DEB 3.750% 2/1 530715AL5 64,964 95,535,000 PRN   SOLE   95,535,000 0 0
LIBERTY MEDIA CORP DEB 3.750% 2/1 530715AL5 11,060 16,265,000 PRN   DFND 1 16,265,000 0 0
LIBERTY MEDIA CORP DEB 4.000%11/1 530715AG6 3,400 4,945,000 PRN   DFND 2 4,945,000 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 29,261 2,955,706 SH   DFND 1 2,955,706 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 1,398 141,229 SH   SOLE   141,229 0 0
MAGNACHIP SEMICONDUCTOR SA NOTE 5.000% 3/0 55932XAB0 1,481 1,100,000 PRN   DFND 2 1,100,000 0 0
MAGNACHIP SEMICONDUCTOR SA NOTE 5.000% 3/0 55932XAB0 9,491 7,050,000 PRN   SOLE   7,050,000 0 0
MAGNACHIP SEMICONDUCTOR SA NOTE 5.000% 3/0 55932XAB0 19,184 14,250,000 PRN   DFND 1 14,250,000 0 0
MARATHON PETE CORP COM 56585A102 10,396 130,000 SH   DFND 1 130,000 0 0
MARATHON PETE CORP COM 56585A102 20,924 261,650 SH   SOLE   261,650 0 0
MGIC INVT CORP WIS COM 552848103 7,187 540,000 SH   DFND 1 540,000 0 0
MGIC INVT CORP WIS COM 552848103 399 30,000 SH   SOLE   30,000 0 0
NEWELL BRANDS INC COM 651229106 9,541 470,000 SH Call DFND 1 470,000 0 0
NEWELL BRANDS INC COM 651229106 1,502 74,000 SH Call SOLE   74,000 0 0
NRG ENERGY INC COM NEW 629377508 23,562 630,000 SH   DFND 1 630,000 0 0
NRG ENERGY INC COM NEW 629377508 21,114 564,536 SH   SOLE   564,536 0 0
PARKER DRILLING CO COM NEW 701081408 287 96,293 SH   DFND 1 96,293 0 0
PARKER DRILLING CO COM NEW 701081408 2,244 752,999 SH   SOLE   752,999 0 0
PEABODY ENERGY CORP NEW COM 704551100 16,180 453,986 SH   DFND 1 453,986 0 0
PEABODY ENERGY CORP NEW COM 704551100 8,725 244,813 SH   SOLE   244,813 0 0
PENN NATL GAMING INC COM 707569109 346 10,500 SH   SOLE   10,500 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 9,487 760,800 SH   SOLE   760,800 0 0
RADIAN GROUP INC COM 750236101 413 20,000 SH   SOLE   20,000 0 0
RADIAN GROUP INC COM 750236101 8,061 390,000 SH   DFND 1 390,000 0 0
RANGE RES CORP COM 75281A109 14,909 877,500 SH   SOLE   877,500 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 8,097 430,000 SH   DFND 1 430,000 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 13,244 703,320 SH   SOLE   703,320 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 1,078 99,155 SH   SOLE   99,155 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 274 25,161 SH   DFND 2 25,161 0 0
SANOFI RIGHT 12/31/2020 80105N113 5,220 9,848,889 SH   DFND 1 9,848,889 0 0
SANOFI RIGHT 12/31/2020 80105N113 1,282 2,419,736 SH   SOLE   2,419,736 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 11,928 420,750 SH   DFND 1 420,750 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 687 24,250 SH   SOLE   24,250 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 441,894 1,520,000 SH Put SOLE   1,520,000 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 126,515 2,922,500 SH Put DFND 1 2,922,500 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755 100,516 2,942,500 SH Put DFND 1 2,942,500 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755 1,964 57,500 SH Put SOLE   57,500 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 3,355 77,500 SH Put SOLE   77,500 0 0
TARGA RES CORP COM 87612G101 16,896 300,047 SH   SOLE   300,047 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 976 34,300 SH   SOLE   34,300 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 16,279 572,000 SH   DFND 1 572,000 0 0
TESLA INC COM 88160R101 26,477 100,000 SH Put DFND 1 100,000 0 0
TRECORA RES COM 894648104 856 61,131 SH   DFND 1 61,131 0 0
TRECORA RES COM 894648104 6,354 453,842 SH   SOLE   453,842 0 0
TURNING PT BRANDS INC COM 90041L105 1,268 30,591 SH   SOLE   30,591 0 0
ULTRA PETROLEUM CORP COM NEW 903914208 108 96,018 SH   SOLE   96,018 0 0
URBAN ONE INC CL D NON VTG 91705J204 7,886 3,943,221 SH   DFND 1 3,943,221 0 0
VISTRA ENERGY CORP COM 92840M102 34,322 1,379,500 SH   DFND 1 1,379,500 0 0
VISTRA ENERGY CORP COM 92840M102 12,867 517,143 SH   DFND 2 517,143 0 0
VISTRA ENERGY CORP *W EXP 02/02/202 92840M128 45 30,849 SH   SOLE   30,849 0 0
VISTRA ENERGY CORP COM 92840M102 85,201 3,424,482 SH   SOLE   3,424,482 0 0
WINDSTREAM HLDGS INC COM PAR 97382A309 3,297 672,819 SH   DFND 1 672,819 0 0
WINDSTREAM HLDGS INC COM PAR 97382A309 588 120,000 SH   SOLE   120,000 0 0