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
ADIENT PLC ORD SHS G0084W101 56,847 1,286,123 SH   SOLE   1,286,123 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 202,476 1,806,368 SH   SOLE   1,806,368 0 0
ALLY FINL INC COM 02005N100 4,521 100,000 SH   SOLE   100,000 0 0
AT&T INC COM 00206R102 7,023 232,000 SH   SOLE   232,000 0 0
BAUSCH HEALTH COS INC COM 071734107 70,926 2,234,586 SH   SOLE   2,234,586 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 9,289 350,000 SH   SOLE   350,000 0 0
CITIGROUP INC COM NEW 172967424 88,755 1,220,000 SH   SOLE   1,220,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 578 321,006 SH   SOLE   321,006 0 0
CURO GROUP HOLDINGS CORP COM 23131L107 1,797 123,172 SH   SOLE   123,172 0 0
EPR PPTYS COM SH BEN INT 26884U109 189,470 4,066,755 SH   SOLE   4,066,755 0 0
EQUITRANS MIDSTREAM CORP COM 294600101 25,547 3,130,760 SH   SOLE   3,130,760 0 0
FALCON CAPITAL ACQUISITN COR COM CL A 30606L108 2,731 273,952 SH   SOLE   273,952 0 0
FORUM MERGER III CORP COM CL A 349885103 3,033 304,242 SH   SOLE   304,242 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 4,724 111,325 SH   SOLE   111,325 0 0
HERC HLDGS INC COM 42704L104 22,839 225,390 SH   SOLE   225,390 0 0
IHEARTMEDIA INC COM CL A 45174J509 2,388 131,551 SH   SOLE   131,551 0 0
IQIYI INC NOTE 4.000%12/1 46267XAE8 3,099 3,000,000 PRN   SOLE   3,000,000 0 0
IQIYI INC NOTE 2.000% 4/0 46267XAD0 8,984 9,640,000 PRN   SOLE   9,640,000 0 0
LAUREATE EDUCATION INC CL A 518613203 35,710 2,627,672 SH   SOLE   2,627,672 0 0
LOMA NEGRA CORP SPONSORED ADS 54150E104 41,154 6,501,380 SH   SOLE   6,501,380 0 0
MDC PARTNERS INC. CL A SUB VTG 552697104 8,347 2,675,241 SH   SOLE   2,675,241 0 0
MERCER INTL INC COM 588056101 24,828 1,725,391 SH   SOLE   1,725,391 0 0
MGIC INVT CORP WIS COM 552848103 44,799 3,234,596 SH   SOLE   3,234,596 0 0
PG&E CORP COM 69331C108 160,175 13,678,519 SH   SOLE   13,678,519 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 31,275 4,284,220 SH   SOLE   4,284,220 0 0
RADIAN GROUP INC COM 750236101 58,414 2,512,427 SH   SOLE   2,512,427 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 468 119,759 SH   SOLE   119,759 0 0
SERVICE PPTYS TR COM SH BEN INT 81761L102 82,251 6,935,166 SH   SOLE   6,935,166 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 27,286 560,870 SH   SOLE   560,870 0 0
STEALTHGAS INC SHS Y81669106 6,830 2,404,887 SH   SOLE   2,404,887 0 0
STUDIO CITY INTL HLDGS LTD SPON ADS 86389T106 22,930 1,737,108 SH   SOLE   1,737,108 0 0
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205 3,247 177,815 SH   SOLE   177,815 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 8,181 1,482,084 SH   SOLE   1,482,084 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 20,755 399,138 SH   SOLE   399,138 0 0
TESLA INC COM 88160R101 432,685 647,800 SH Put SOLE   647,800 0 0
VEREIT INC COM 92339V308 163,680 4,238,213 SH   SOLE   4,238,213 0 0
VERSO CORP CL A 92531L207 8,673 594,433 SH   SOLE   594,433 0 0
VIATRIS INC COM 92556V106 1,397 100,000 SH   SOLE   100,000 0 0
VICI PPTYS INC COM 925652109 10,225 362,074 SH   SOLE   362,074 0 0
VORNADO RLTY TR SH BEN INT 929042109 49,859 1,098,467 SH   SOLE   1,098,467 0 0
WELLS FARGO CO NEW COM 949746101 105,508 2,700,477 SH   SOLE   2,700,477 0 0