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 87,907 1,835,977 SH   SOLE   0 0 0
AERCAP HOLDINGS NV SHS N00985106 72,982 1,115,593 SH   SOLE   0 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 59,612 895,478 SH   SOLE   0 0 0
ALLY FINL INC COM 02005N100 4,761 100,000 SH   SOLE   0 0 0
ALTICE USA INC CL A 02156K103 130,200 8,046,954 SH   SOLE   0 0 0
AMERICAN PUB ED INC COM 02913V103 41,211 1,852,192 SH   SOLE   0 0 0
AT&T INC COM 00206R102 27,552 1,120,000 SH   SOLE   0 0 0
BAUSCH HEALTH COS INC COM 071734107 66,351 2,403,137 SH   SOLE   0 0 0
CARNIVAL CORP COMMON STOCK 143658300 39,722 1,974,260 SH   SOLE   0 0 0
CBL & ASSOC PPTYS INC COMMON STOCK 124830878 2,497 80,020 SH   SOLE   0 0 0
CBL & ASSOCIATES HOLDCO II L NOTE 7.000%11/1 12511CAC4 933 490,677 SH   SOLE   0 0 0
CHESAPEAKE ENERGY CORP COM 165167735 1,215 18,824 SH   SOLE   0 0 0
CITIGROUP INC COM NEW 172967424 53,747 890,000 SH   SOLE   0 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 1,063 321,006 SH   SOLE   0 0 0
CURO GROUP HOLDINGS CORP COM 23131L107 1,972 123,172 SH   SOLE   0 0 0
DIVERSIFIED HEALTHCARE TR COM SH BEN INT 25525P107 2,329 753,801 SH   SOLE   0 0 0
DOLE PLC ORD SHS G27907107 34,068 2,557,687 SH   SOLE   0 0 0
ENACT HLDGS INC COM 29249E109 31,005 1,500,000 SH   SOLE   0 0 0
EQUITRANS MIDSTREAM CORP COM 294600101 32,372 3,130,760 SH   SOLE   0 0 0
HERC HLDGS INC COM 42704L104 1,957 12,500 SH   SOLE   0 0 0
IMPERIAL PETE INC COMMON SHARES Y3894J104 643 300,610 SH   SOLE   0 0 0
IQIYI INC NOTE 4.000%12/1 46267XAE8 41,503 60,237,000 PRN   SOLE   0 0 0
LOMA NEGRA C I A S A MTN 14 SPONSORED ADS 54150E104 39,176 5,873,428 SH   SOLE   0 0 0
LOYALTY VENTURES INC COMMON STOCK 54911Q107 50,699 1,686,029 SH   SOLE   0 0 0
MERCER INTL INC COM 588056101 37,374 3,117,131 SH   SOLE   0 0 0
MGIC INVT CORP WIS COM 552848103 21,503 1,491,195 SH   SOLE   0 0 0
NCL CORP LTD NOTE 6.000% 5/1 62886HAT8 6,984 4,000,000 PRN   SOLE   0 0 0
PG&E CORP COM 69331C108 28,041 2,309,809 SH   SOLE   0 0 0
PINDUODUO INC NOTE 12/0 722304AC6 8,416 9,320,000 PRN   SOLE   0 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 9,745 1,221,228 SH   SOLE   0 0 0
RADIAN GROUP INC COM 750236101 53,088 2,512,427 SH   SOLE   0 0 0
ROYAL CARIBBEAN GROUP NOTE 4.250% 6/1 780153BB7 814 640,000 PRN   SOLE   0 0 0
SABRE GLBL INC NOTE 4.000% 4/1 78573NAE2 6,822 5,000,000 PRN   SOLE   0 0 0
SERVICE PPTYS TR COM SH BEN INT 81761L102 8,193 932,122 SH   SOLE   0 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 79,030 1,834,079 SH   SOLE   0 0 0
STAGWELL INC COM CL A 85256A109 10,539 1,215,605 SH   SOLE   0 0 0
STEALTHGAS INC SHS Y81669106 5,074 2,404,887 SH   SOLE   0 0 0
STELLANTIS N.V SHS N82405106 10,506 560,000 SH   SOLE   0 0 0
STUDIO CITY INTL HLDGS LTD SPON ADS 86389T106 9,150 1,716,596 SH   SOLE   0 0 0
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205 2,424 177,815 SH   SOLE   0 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 18,285 3,585,329 SH   SOLE   0 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 32,606 399,138 SH   SOLE   0 0 0
VIATRIS INC COM 92556V106 1,353 100,000 SH   SOLE   0 0 0
VORNADO RLTY TR SH BEN INT 929042109 39,009 931,901 SH   SOLE   0 0 0
VROOM INC COM 92918V109 3,237 300,000 SH   SOLE   0 0 0