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
ALBERTSONS COS INC COMMON STOCK 013091103 13,369 680,000 SH   SOLE   680,000 0 0
AMC ENTMT HLDGS INC CL A COM 00165C104 8,615 152,000 SH Put SOLE   152,000 0 0
AMKOR TECHNOLOGY INC COM 031652100 1,231 52,000 SH   SOLE   52,000 0 0
APOLLO COML REAL EST FIN INC NOTE 5.375%10/1 03762UAC9 6,893 6,728,000 PRN   SOLE   6,728,000 0 0
APOLLO COML REAL EST FIN INC NOTE 4.750% 8/2 03762UAB1 5,773 5,695,000 PRN   SOLE   5,695,000 0 0
AVAYA HLDGS CORP COM 05351X101 5,407 201,000 SH   SOLE   201,000 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 1,958 45,900 SH   SOLE   45,900 0 0
CHENIERE ENERGY INC COM NEW 16411R208 1,562 18,000 SH   SOLE   18,000 0 0
CHESAPEAKE ENERGY CORP COM 165167735 1,001 19,282 SH   DFND 2 19,282 0 0
CHESAPEAKE ENERGY CORP *W EXP 99/99/999 165167172 546 22,326 SH   SOLE   22,326 0 0
CHESAPEAKE ENERGY CORP *W EXP 09/02/202 165167180 905 43,378 SH   SOLE   43,378 0 0
CHESAPEAKE ENERGY CORP *W EXP 09/02/202 165167180 306 14,643 SH   DFND 2 14,643 0 0
CHESAPEAKE ENERGY CORP COM 165167735 70,352 1,355,000 SH   SOLE   1,355,000 0 0
CHESAPEAKE ENERGY CORP COM 165167735 6,646 128,000 SH   DFND 1 128,000 0 0
CHESAPEAKE ENERGY CORP *W EXP 99/99/999 165167164 207 7,698 SH   DFND 2 7,698 0 0
CHESAPEAKE ENERGY CORP *W EXP 99/99/999 165167164 540 20,092 SH   SOLE   20,092 0 0
CHESAPEAKE ENERGY CORP *W EXP 99/99/999 165167172 209 8,555 SH   DFND 2 8,555 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 13,815 5,232,864 SH   SOLE   5,232,864 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 921 348,687 SH   DFND 2 348,687 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 14,999 5,681,310 SH   DFND 1 5,681,310 0 0
CLIPPER RLTY INC COM 18885T306 1,993 271,211 SH   SOLE   271,211 0 0
CLIPPER RLTY INC COM 18885T306 4,436 603,513 SH   DFND 1 603,513 0 0
CNX RES CORP COM 12653C108 1,093 80,000 SH   SOLE   80,000 0 0
CNX RES CORP NOTE 2.250% 5/0 12653CAG3 18,629 14,385,000 PRN   SOLE   14,385,000 0 0
CNX RES CORP NOTE 2.250% 5/0 12653CAG3 7,505 5,795,000 PRN   DFND 1 5,795,000 0 0
CNX RES CORP NOTE 2.250% 5/0 12653CAG3 1,437 1,110,000 PRN   DFND 2 1,110,000 0 0
COMMSCOPE HLDG CO INC COM 20337X109 9,521 446,783 SH   DFND 1 446,783 0 0
COMMSCOPE HLDG CO INC COM 20337X109 8,486 398,217 SH   SOLE   398,217 0 0
CORNERSTONE BLDG BRANDS INC COM 21925D109 2,304 126,720 SH   SOLE   126,720 0 0
CORNERSTONE BLDG BRANDS INC COM 21925D109 1,480 81,400 SH   DFND 1 81,400 0 0
EDISON INTL COM 281020107 3,180 55,000 SH   SOLE   55,000 0 0
EXTRACTION OIL & GAS INC COM 30227M303 10,809 196,854 SH   DFND 2 196,854 0 0
EXTRACTION OIL & GAS INC COM 30227M303 71,710 1,305,957 SH   SOLE   1,305,957 0 0
FIRSTENERGY CORP COM 337932107 10,810 290,500 SH   SOLE   290,500 0 0
FRONTIER COMMUNICATIONS PARE COM 35909D109 6,899 261,314 SH   SOLE   261,314 0 0
GRAFTECH INTL LTD COM 384313508 4,822 415,000 SH   DFND 1 415,000 0 0
GRAFTECH INTL LTD COM 384313508 6,437 554,000 SH   SOLE   554,000 0 0
GRANITE PT MTG TR INC NOTE 6.375%10/0 38741LAC1 15 15,000 PRN   DFND 2 15,000 0 0
GRANITE PT MTG TR INC NOTE 6.375%10/0 38741LAC1 921 930,000 PRN   SOLE   930,000 0 0
IAMGOLD CORP COM 450913108 2,091 708,800 SH   SOLE   708,800 0 0
IHEARTMEDIA INC COM CL A 45174J509 5,224 194,000 SH   SOLE   194,000 0 0
IHEARTMEDIA INC COM CL A 45174J509 3,716 138,000 SH   DFND 1 138,000 0 0
IRSA INVERSIONES Y REP S A *W EXP 05/25/202 P5880C134 1 142,630 SH   SOLE   142,630 0 0
ISHARES TR IBOXX HI YD ETF 464288513 44,020 500,000 SH Put SOLE   500,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 114,547 499,400 SH Put DFND 1 499,400 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 57,480 250,600 SH Put SOLE   250,600 0 0
ISHARES TR IBOXX INV CP ETF 464287242 67,180 500,000 SH Put SOLE   500,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 88,040 1,000,000 SH Call DFND 1 1,000,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 44,020 500,000 SH Call SOLE   500,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 88,040 1,000,000 SH Put DFND 1 1,000,000 0 0
LIBERTY LATIN AMERICA LTD NOTE 2.000% 7/1 53069QAB5 18,826 18,640,000 PRN   SOLE   18,640,000 0 0
LIBERTY LATIN AMERICA LTD NOTE 2.000% 7/1 53069QAB5 2,717 2,690,000 PRN   DFND 2 2,690,000 0 0
LIBERTY MEDIA CORP DEL DEB 4.000%11/1 530715AG6 27,363 35,768,000 PRN   SOLE   35,768,000 0 0
LIBERTY MEDIA CORP DEL DEB 3.750% 2/1 530715AL5 6,523 8,625,000 PRN   DFND 2 8,625,000 0 0
LIBERTY MEDIA CORP DEL DEB 3.750% 2/1 530715AL5 85,091 112,510,000 PRN   SOLE   112,510,000 0 0
LIBERTY MEDIA CORP DEL DEB 4.000%11/1 530715AG6 3,668 4,795,000 PRN   DFND 2 4,795,000 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 6,665 279,336 SH   DFND 1 279,336 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 2,001 83,857 SH   DFND 2 83,857 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 15,909 666,760 SH   SOLE   666,760 0 0
NMI HLDGS INC CL A 629209305 3,406 151,500 SH   SOLE   151,500 0 0
NMI HLDGS INC CL A 629209305 4,001 178,000 SH   DFND 1 178,000 0 0
NOBLE CORP NEW SHS G6610J209 2,435 97,410 SH   DFND 1 97,410 0 0
NOBLE CORP NEW SHS G6610J209 5,646 225,841 SH   SOLE   225,841 0 0
NOBLE CORP NEW SHS G6610J209 940 37,613 SH   DFND 2 37,613 0 0
NRG ENERGY INC COM NEW 629377508 1,538 38,163 SH   SOLE   38,163 0 0
PEBBLEBROOK HOTEL TR NOTE 1.750%12/1 70509VAA8 15,392 13,650,000 PRN   SOLE   13,650,000 0 0
PEBBLEBROOK HOTEL TR NOTE 1.750%12/1 70509VAA8 3,248 2,880,000 PRN   DFND 2 2,880,000 0 0
PG&E CORP COM 69331C108 14,374 1,413,400 SH Call DFND 1 1,413,400 0 0
PG&E CORP COM 69331C108 5,469 537,800 SH Call SOLE   537,800 0 0
PG&E CORP COM 69331C108 14,300 1,406,118 SH   SOLE   1,406,118 0 0
PG&E CORP COM 69331C108 3,919 385,338 SH   DFND 1 385,338 0 0
QURATE RETAIL INC COM SER A 74915M100 6,493 496,000 SH   SOLE   496,000 0 0
RESOURCE CAP CORP NOTE 4.500% 8/1 76120WAC8 26,165 26,576,000 PRN   SOLE   26,576,000 0 0
RESOURCE CAP CORP NOTE 4.500% 8/1 76120WAC8 94 95,000 PRN   DFND 2 95,000 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 164 26,086 SH   DFND 2 26,086 0 0
SANDRIDGE ENERGY INC COM NEW 80007P869 590 93,898 SH   SOLE   93,898 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 4,486 135,000 SH   SOLE   135,000 0 0
SPDR GOLD TR GOLD SHS 78463V107 125,879 760,000 SH Call SOLE   760,000 0 0
SPDR GOLD TR GOLD SHS 78463V107 132,504 800,000 SH Call DFND 1 800,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 149,821 350,000 SH Put SOLE   350,000 0 0
STARWOOD PPTY TR INC NOTE 4.375% 4/0 85571BAH8 21,530 19,899,000 PRN   SOLE   19,899,000 0 0
TRIUMPH GROUP INC NEW COM 896818101 4,980 240,000 SH   SOLE   240,000 0 0
TURNING PT BRANDS INC COM 90041L105 8,948 195,498 SH   SOLE   195,498 0 0
TWO HBRS INVT CORP NOTE 6.250% 1/1 90187BAB7 20,597 18,600,000 PRN   SOLE   18,600,000 0 0
VALARIS LIMITED CL A G9460G101 28,687 993,315 SH   SOLE   993,315 0 0
VALARIS LIMITED CL A G9460G101 2,802 97,039 SH   DFND 2 97,039 0 0
VALARIS LIMITED CL A G9460G101 18,290 633,298 SH   DFND 1 633,298 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 1,142 33,600 SH   SOLE   33,600 0 0
VISTRA CORP *W EXP 02/02/202 92840M128 9 29,389 SH   SOLE   29,389 0 0
VISTRA CORP COM 92840M102 7,344 395,900 SH   SOLE   395,900 0 0
WESTERN ASSET MTG CAP CORP NOTE 6.750%10/0 95790DAA3 21,575 22,711,000 PRN   SOLE   22,711,000 0 0