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
ABERDEEN STD GOLD ETF TR PHYSCL GOLD SHS 00326A104 817 45,000 SH   SOLE   45,000 0 0
ADIENT PLC ORD SHS G0084W101 2,686 155,000 SH   SOLE   155,000 0 0
ADIENT PLC ORD SHS G0084W101 8,232 475,000 SH   DFND 1 475,000 0 0
AMPLIFY ENERGY CORP NEW COM 03212B103 1,006 1,178,833 SH   SOLE   1,178,833 0 0
AMPLIFY ENERGY CORP NEW COM 03212B103 211 246,700 SH   DFND 2 246,700 0 0
APOLLO COML REAL EST FIN INC NOTE 4.750% 8/2 03762UAB1 16,874 17,935,000 PRN   DFND 1 17,935,000 0 0
APOLLO COML REAL EST FIN INC NOTE 4.750% 8/2 03762UAB1 11,963 12,715,000 PRN   SOLE   12,715,000 0 0
APOLLO COML REAL EST FIN INC NOTE 5.375%10/1 03762UAC9 11,551 12,875,000 PRN   DFND 1 12,875,000 0 0
APOLLO COML REAL EST FIN INC NOTE 5.375%10/1 03762UAC9 15,143 16,878,000 PRN   SOLE   16,878,000 0 0
BOYD GAMING CORP COM 103304101 2,463 80,250 SH   SOLE   80,250 0 0
CHENIERE ENERGY INC COM NEW 16411R208 3,293 71,100 SH   SOLE   71,100 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 11,831 11,950,532 SH   DFND 1 11,950,532 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 6,178 6,240,269 SH   SOLE   6,240,269 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 345 348,687 SH   DFND 2 348,687 0 0
CLIPPER RLTY INC COM 18885T306 4,845 800,843 SH   DFND 1 800,843 0 0
CLIPPER RLTY INC COM 18885T306 1,641 271,211 SH   SOLE   271,211 0 0
CNX RES CORP COM 12653C108 1,184 125,400 SH   SOLE   125,400 0 0
COLONY CR REAL ESTATE INC COM CL A 19625T101 739 150,500 SH   SOLE   150,500 0 0
COMMSCOPE HLDG CO INC COM 20337X109 5,409 601,000 SH   DFND 1 601,000 0 0
COMMSCOPE HLDG CO INC COM 20337X109 2,844 316,000 SH   SOLE   316,000 0 0
CONSTELLIUM SE CL A SHS F21107101 3,093 394,000 SH   SOLE   394,000 0 0
CONSTELLIUM SE CL A SHS F21107101 7,403 943,000 SH   DFND 1 943,000 0 0
CORNERSTONE BLDG BRANDS INC COM 21925D109 1,037 130,000 SH   SOLE   130,000 0 0
CUMULUS MEDIA INC COM CL A 231082801 6,984 1,300,508 SH   SOLE   1,300,508 0 0
CUMULUS MEDIA INC COM CL A 231082801 2,232 415,559 SH   DFND 1 415,559 0 0
CUMULUS MEDIA INC COM CL A 231082801 1,231 229,262 SH   DFND 2 229,262 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 1,032 200,000 SH   SOLE   200,000 0 0
DIEBOLD NXDF INC COM 253651103 1,699 222,338 SH   SOLE   222,338 0 0
DIEBOLD NXDF INC COM 253651103 4,367 571,550 SH   DFND 1 571,550 0 0
DISH NETWORK CORPORATION CL A 25470M109 525 18,100 SH   SOLE   18,100 0 0
EDISON INTL COM 281020107 2,796 55,000 SH   SOLE   55,000 0 0
FERRO CORP COM 315405100 14,496 1,169,000 SH   DFND 1 1,169,000 0 0
FERRO CORP COM 315405100 6,845 552,000 SH   SOLE   552,000 0 0
FIRSTENERGY CORP COM 337932107 2,324 81,000 SH   SOLE   81,000 0 0
FORTERRA INC COM 34960W106 3,286 278,000 SH   SOLE   278,000 0 0
FORTERRA INC COM 34960W106 6,619 560,000 SH   DFND 1 560,000 0 0
GLOBAL SHIP LEASE INC NEW COM CL A Y27183600 1,628 236,000 SH   SOLE   236,000 0 0
GRANITE PT MTG TR INC NOTE 6.375%10/0 38741LAC1 1,818 1,960,000 PRN   DFND 1 1,960,000 0 0
GRANITE PT MTG TR INC NOTE 6.375%10/0 38741LAC1 454 490,000 PRN   SOLE   490,000 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 749 433,000 SH   SOLE   433,000 0 0
HOWMET AEROSPACE INC COM 443201108 1,421 85,000 SH   SOLE   85,000 0 0
IHEARTMEDIA INC COM CL A 45174J509 1,813 223,267 SH   DFND 2 223,267 0 0
IHEARTMEDIA INC COM CL A 45174J509 7,969 981,452 SH   DFND 1 981,452 0 0
IHEARTMEDIA INC COM CL A 45174J509 13,455 1,657,068 SH   SOLE   1,657,068 0 0
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204 291 103,175 SH   SOLE   103,175 0 0
IRSA PROPIEDADES COMERCIALES SPONSORED ADR 463588103 559 71,938 SH   SOLE   71,938 0 0
ISHARES SILVER TR ISHARES 46428Q109 45,444 2,100,000 SH Call SOLE   2,100,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 196,746 2,345,000 SH Call DFND 1 2,345,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 306,655 3,655,000 SH Call SOLE   3,655,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 194,727 1,300,000 SH Put DFND 1 1,300,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 125,850 1,500,000 SH Put SOLE   1,500,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 283,852 1,895,000 SH Put SOLE   1,895,000 0 0
LIBERTY LATIN AMERICA LTD NOTE 2.000% 7/1 53069QAB5 21,020 25,595,000 PRN   SOLE   25,595,000 0 0
LIBERTY LATIN AMERICA LTD NOTE 2.000% 7/1 53069QAB5 3,030 3,690,000 PRN   DFND 2 3,690,000 0 0
LIBERTY MEDIA CORP DEL DEB 3.750% 2/1 530715AL5 9,756 13,365,000 PRN   DFND 2 13,365,000 0 0
LIBERTY MEDIA CORP DEL DEB 3.750% 2/1 530715AL5 93,631 128,261,000 PRN   SOLE   128,261,000 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 22,099 1,613,041 SH   DFND 1 1,613,041 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 6,080 443,765 SH   SOLE   443,765 0 0
MAGNACHIP SEMICONDUCTOR SA NOTE 5.000% 3/0 55932XAB0 15,197 8,979,000 PRN   SOLE   8,979,000 0 0
MAGNACHIP SEMICONDUCTOR SA NOTE 5.000% 3/0 55932XAB0 1,862 1,100,000 PRN   DFND 2 1,100,000 0 0
MAGNACHIP SEMICONDUCTOR SA NOTE 5.000% 3/0 55932XAB0 20,107 11,880,000 PRN   DFND 1 11,880,000 0 0
NESCO HLDGS INC COM 64083J104 1,141 277,600 SH   SOLE   277,600 0 0
NMI HLDGS INC CL A 629209305 543 30,500 SH   SOLE   30,500 0 0
NORWEGIAN CRUISE LINE HLDG L SHS G66721104 804 47,000 SH   SOLE   47,000 0 0
ONEMAIN HLDGS INC COM 68268W103 10,674 341,571 SH   DFND 1 341,571 0 0
ONEMAIN HLDGS INC COM 68268W103 3,545 113,429 SH   SOLE   113,429 0 0
PG&E CORP COM 69331C108 3,618 385,338 SH   DFND 1 385,338 0 0
PG&E CORP COM 69331C108 14,706 1,566,118 SH   SOLE   1,566,118 0 0
PG&E CORP COM 69331C108 12,954 1,379,500 SH Call DFND 1 1,379,500 0 0
PG&E CORP COM 69331C108 4,944 526,500 SH Call SOLE   526,500 0 0
PLAYAGS INC COM 72814N104 708 200,000 SH   SOLE   200,000 0 0
RED ROCK RESORTS INC CL A 75700L108 2,377 139,000 SH   SOLE   139,000 0 0
RESOURCE CAP CORP NOTE 4.500% 8/1 76120WAC8 17,303 19,405,000 PRN   DFND 1 19,405,000 0 0
RESOURCE CAP CORP NOTE 4.500% 8/1 76120WAC8 11,527 12,927,000 PRN   SOLE   12,927,000 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 42 25,161 SH   DFND 2 25,161 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 149 90,389 SH   SOLE   90,389 0 0
SPDR GOLD TR GOLD SHS 78463V107 63,763 360,000 SH Call SOLE   360,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 241,121 720,000 SH Put DFND 1 720,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 466,837 1,394,000 SH Put SOLE   1,394,000 0 0
STARWOOD PPTY TR INC NOTE 4.375% 4/0 85571BAH8 1,719 1,800,000 PRN   SOLE   1,800,000 0 0
TPG RE FIN TR INC COM 87266M107 2,837 335,400 SH   SOLE   335,400 0 0
TPG RE FIN TR INC COM 87266M107 4,365 515,900 SH   DFND 1 515,900 0 0
TRECORA RES COM 894648104 757 123,291 SH   SOLE   123,291 0 0
TURNING PT BRANDS INC COM 90041L105 9,055 324,798 SH   SOLE   324,798 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 489 12,500 SH   SOLE   12,500 0 0
VISTRA CORP COM 92840M102 1,913 101,447 SH   DFND 2 101,447 0 0
VISTRA CORP *W EXP 02/02/202 92840M128 17 29,389 SH   SOLE   29,389 0 0
VISTRA CORP COM 92840M102 14,500 768,817 SH   SOLE   768,817 0 0