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 58,133 1,286,123 SH   SOLE   1,286,123 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 188,205 1,806,368 SH   SOLE   1,806,368 0 0
ALLY FINL INC COM 02005N100 4,984 100,000 SH   SOLE   100,000 0 0
AMERICAN PUB ED INC COM 02913V103 22,031 777,380 SH   SOLE   777,380 0 0
AT&T INC COM 00206R102 32,234 1,120,000 SH   SOLE   1,120,000 0 0
BAUSCH HEALTH COS INC COM 071734107 67,528 2,303,137 SH   SOLE   2,303,137 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 9,226 350,000 SH   SOLE   350,000 0 0
CITIGROUP INC COM NEW 172967424 91,268 1,290,000 SH   SOLE   1,290,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 847 321,006 SH   SOLE   321,006 0 0
CURO GROUP HOLDINGS CORP COM 23131L107 2,094 123,172 SH   SOLE   123,172 0 0
DIVERSIFIED HEALTHCARE TR COM SH BEN INT 25525P107 3,151 753,801 SH   SOLE   753,801 0 0
EPR PPTYS COM SH BEN INT 26884U109 46,295 878,795 SH   SOLE   878,795 0 0
EQUITRANS MIDSTREAM CORP COM 294600101 26,643 3,130,760 SH   SOLE   3,130,760 0 0
FRONTIER COMMUNICATIONS PARE COM 35909D109 66,338 2,512,817 SH   SOLE   2,512,817 0 0
HERC HLDGS INC COM 42704L104 25,259 225,390 SH   SOLE   225,390 0 0
IQIYI INC NOTE 4.000%12/1 46267XAE8 49,945 49,758,000 SH   SOLE   49,758,000 0 0
LAUREATE EDUCATION INC CL A 518613203 38,128 2,627,672 SH   SOLE   2,627,672 0 0
LOMA NEGRA C I A S A MTN 14 SPONSORED ADS 54150E104 44,274 6,501,380 SH   SOLE   6,501,380 0 0
MDC PARTNERS INC. CL A SUB VTG 552697104 15,650 2,675,241 SH   SOLE   2,675,241 0 0
MERCER INTL INC COM 588056101 18,139 1,422,689 SH   SOLE   1,422,689 0 0
MGIC INVT CORP WIS COM 552848103 43,991 3,234,596 SH   SOLE   3,234,596 0 0
NCL CORP LTD NOTE 6.000% 5/1 62886HAT8 9,285 4,000,000 SH   SOLE   4,000,000 0 0
PG&E CORP COM 69331C108 143,280 14,088,519 SH   SOLE   14,088,519 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 12,281 1,652,827 SH   SOLE   1,652,827 0 0
RADIAN GROUP INC COM 750236101 55,902 2,512,427 SH   SOLE   2,512,427 0 0
SABRE GLBL INC NOTE 4.000% 4/1 78573NAE2 9,100 5,000,000 SH   SOLE   5,000,000 0 0
SERVICE PPTYS TR COM SH BEN INT 81761L102 81,080 6,434,926 SH   SOLE   6,434,926 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 48,980 1,037,922 SH   SOLE   1,037,922 0 0
STEALTHGAS INC SHS Y81669106 6,758 2,404,887 SH   SOLE   2,404,887 0 0
STELLANTIS N.V SHS N82405106 11,038 560,000 SH   SOLE   560,000 0 0
STUDIO CITY INTL HLDGS LTD SPON ADS 86389T106 20,011 1,737,108 SH   SOLE   1,737,108 0 0
SYNCHRONY FINANCIAL COM 87165B103 19,408 400,000 SH   SOLE   400,000 0 0
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205 2,993 177,815 SH   SOLE   177,815 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 8,904 1,673,691 SH   SOLE   1,673,691 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 26,738 399,138 SH   SOLE   399,138 0 0
VEREIT INC COM 92339V308 37,219 810,344 SH   SOLE   810,344 0 0
VERSO CORP CL A 92531L207 4,405 248,881 SH   SOLE   248,881 0 0
VIATRIS INC COM 92556V106 1,429 100,000 SH   SOLE   100,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 43,492 931,901 SH   SOLE   931,901 0 0
WELLS FARGO CO NEW COM 949746101 122,305 2,700,477 SH   SOLE   2,700,477 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103 12,072 52,482 SH   SOLE   52,482 0 0