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 76,101 1,835,977 SH   SOLE   1,835,977 0 0
AERCAP HOLDINGS NV SHS N00985106 44,069 762,299 SH   SOLE   762,299 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 68,028 674,276 SH   SOLE   674,276 0 0
ALLY FINL INC COM 02005N100 5,105 100,000 SH   SOLE   100,000 0 0
ALTICE USA INC CL A 02156K103 48,451 2,338,370 SH   SOLE   2,338,370 0 0
AMERICAN PUB ED INC COM 02913V103 38,602 1,507,313 SH   SOLE   1,507,313 0 0
AT&T INC COM 00206R102 30,251 1,120,000 SH   SOLE   1,120,000 0 0
BAUSCH HEALTH COS INC COM 071734107 66,927 2,403,137 SH   SOLE   2,403,137 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 16,257 650,000 SH   SOLE   650,000 0 0
CHESAPEAKE ENERGY CORP COM 165167735 1,159 18,824 SH   SOLE   18,824 0 0
CITIGROUP INC COM NEW 172967424 90,532 1,290,000 SH   SOLE   1,290,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 870 321,006 SH   SOLE   321,006 0 0
CURO GROUP HOLDINGS CORP COM 23131L107 2,135 123,172 SH   SOLE   123,172 0 0
DIVERSIFIED HEALTHCARE TR COM SH BEN INT 25525P107 2,555 753,801 SH   SOLE   753,801 0 0
DOLE PLC ORD SHS G27907107 39,986 2,357,687 SH   SOLE   2,357,687 0 0
ENACT HLDGS INC COM 29249E109 32,895 1,500,000 SH   SOLE   1,500,000 0 0
EPR PPTYS COM SH BEN INT 26884U109 9,357 189,492 SH   SOLE   189,492 0 0
EQUITRANS MIDSTREAM CORP COM 294600101 31,746 3,130,760 SH   SOLE   3,130,760 0 0
FRONTIER COMMUNICATIONS PARE COM 35909D109 20,763 745,000 SH   SOLE   745,000 0 0
HERC HLDGS INC COM 42704L104 24,801 151,724 SH   SOLE   151,724 0 0
IQIYI INC NOTE 4.000%12/1 46267XAE8 53,365 62,598,000 PRN   SOLE   62,598,000 0 0
JACKSON FINANCIAL INC COM CL A 46817M107 548 21,073 SH   SOLE   21,073 0 0
LOMA NEGRA C I A S A MTN 14 SPONSORED ADS 54150E104 41,878 5,873,428 SH   SOLE   5,873,428 0 0
MERCER INTL INC COM 588056101 24,499 2,113,778 SH   SOLE   2,113,778 0 0
MGIC INVT CORP WIS COM 552848103 48,390 3,234,596 SH   SOLE   3,234,596 0 0
NCL CORP LTD NOTE 6.000% 5/1 62886HAT8 8,548 4,000,000 PRN   SOLE   4,000,000 0 0
PG&E CORP COM 69331C108 135,250 14,088,519 SH   SOLE   14,088,519 0 0
PINDUODUO INC NOTE 12/0 722304AC6 2,597 2,820,000 PRN   SOLE   2,820,000 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 13,702 1,652,827 SH   SOLE   1,652,827 0 0
RADIAN GROUP INC COM 750236101 57,082 2,512,427 SH   SOLE   2,512,427 0 0
ROYAL CARIBBEAN GROUP NOTE 4.250% 6/1 780153BB7 899 640,000 PRN   SOLE   640,000 0 0
SABRE GLBL INC NOTE 4.000% 4/1 78573NAE2 8,619 5,000,000 PRN   SOLE   5,000,000 0 0
SERVICE PPTYS TR COM SH BEN INT 81761L102 16,948 1,511,909 SH   SOLE   1,511,909 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 73,536 1,664,079 SH   SOLE   1,664,079 0 0
STAGWELL INC COM CL A 85256A109 13,426 1,750,472 SH   SOLE   1,750,472 0 0
STEALTHGAS INC SHS Y81669106 6,445 2,404,887 SH   SOLE   2,404,887 0 0
STELLANTIS N.V SHS N82405106 10,696 560,000 SH   SOLE   560,000 0 0
STUDIO CITY INTL HLDGS LTD SPON ADS 86389T106 14,025 1,716,596 SH   SOLE   1,716,596 0 0
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205 2,913 177,815 SH   SOLE   177,815 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 14,569 2,943,132 SH   SOLE   2,943,132 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 26,519 399,138 SH   SOLE   399,138 0 0
VEREIT INC COM 92339V308 21,494 475,216 SH   SOLE   475,216 0 0
VIATRIS INC COM 92556V106 1,355 100,000 SH   SOLE   100,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 39,149 931,901 SH   SOLE   931,901 0 0
WELLS FARGO CO NEW COM 949746101 15,107 325,520 SH   SOLE   325,520 0 0