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
BANCO MACRO SA SPON ADR B 05961W105 2,926 112,432 SH   SOLE   112,432 0 0
BERRY PETE CORP COM 08579X101 3 310 SH   SOLE   310 0 0
CITY OFFICE REIT INC COM 178587101 1,439 100,000 SH   SOLE   100,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 28,267 11,216,951 SH   SOLE   11,216,951 0 0
CONSTELLIUM SE CL A N22035104 13,644 1,073,489 SH   SOLE   1,073,489 0 0
CORPORACION AMER ARPTS S A COM L1995B107 1,930 426,000 SH   SOLE   426,000 0 0
GRUPO FINANCIERO GALICIA S A SPONSORED ADR 399909100 3,900 300,000 SH   SOLE   300,000 0 0
IHEARTMEDIA INC COM CL A 45174J509 4,443 296,177 SH   SOLE   296,177 0 0
LADDER CAP CORP CL A 505743104 5,056 292,740 SH   SOLE   292,740 0 0
LEAR CORP COM NEW 521865204 64 539 SH   SOLE   539 0 0
LOMA NEGRA CORP SPONSORED ADS 54150E104 4,197 730,000 SH   SOLE   730,000 0 0
PAMPA ENERGIA S A SPONS ADR LVL I 697660207 2,604 150,000 SH   SOLE   150,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 148,385 500,000 SH   SOLE   500,000 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 2,791 279,163 SH   SOLE   279,163 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 3,052 330,000 SH   SOLE   330,000 0 0