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

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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
BANCO MACRO SA SPON ADR B 05961W105 1,105 25,000 SH   SOLE   25,000 0 0
BERRY PETE CORP COM 08579X101 17,136 1,958,374 SH   SOLE   1,958,374 0 0
CAESARS ENTMT CORP COM 127686103 14,891 2,193,019 SH   SOLE   2,193,019 0 0
CENTRAL PUERTO S A SPONSORED ADR 155038201 920 100,000 SH   SOLE   100,000 0 0
CITY OFFICE REIT INC COM 178587101 1,025 100,000 SH   SOLE   100,000 0 0
CONSTELLIUM NV CL A N22035104 12,283 1,757,293 SH   SOLE   1,757,293 0 0
CORPORACION AMER ARPTS S A COM L1995B107 1,408 212,441 SH   SOLE   212,441 0 0
FIVE POINT HOLDINGS LLC COM CL A 33833Q106 8,088 1,165,392 SH   SOLE   1,165,392 0 0
GRUPO SUPERVIELLE S A SPONSORED ADR 40054A108 1,953 225,000 SH   SOLE   225,000 0 0
IRSA PROPIEDADES COMERCIALES SPONSORED ADR 463588103 38 2,078 SH   SOLE   2,078 0 0
ISHARES TR IBOXX HI YD ETF 464288513 251,410 3,100,000 SH   SOLE   3,100,000 0 0
LADDER CAP CORP CL A 505743104 4,379 283,064 SH   SOLE   283,064 0 0
LOMA NEGRA CORP SPONSORED ADS 54150E104 1,784 160,235 SH   SOLE   160,235 0 0
MDC PARTNERS INC CL A SUB VTG 552697104 16 6,170 SH   SOLE   6,170 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 650 50,000 SH   SOLE   50,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 124,960 500,000 SH   SOLE   500,000 0 0
WEATHERFORD INTL LTD NOTE 5.875% 7/0 947075AH0 5,670 9,000,000 PRN   SOLE   9,000,000 0 0
WHITING PETE CORP NEW NOTE 1.250% 4/0 966387AL6 232 245,000 PRN   SOLE   245,000 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 2,009 150,000 SH   SOLE   150,000 0 0