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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ADIENT PLCORD SHSG0084W10135,0872,024,645SH SOLE 2,024,64500
ALLIANCE DATA SYSTEMS CORPCOM01858110878,3501,866,368SH SOLE 1,866,36800
ALLY FINL INCCOM02005N1002,507100,000SH SOLE 100,00000
AMERICAN AXLE & MFG HLDGS INCOM0240611035,678984,132SH SOLE 984,13200
BAUSCH HEALTH COS INCCOM07173410750,4763,248,163SH SOLE 3,248,16300
BRISTOL-MYERS SQUIBB CORIGHT 99/99/99991101221571,125500,000SH SOLE 500,00000
CITIGROUP INCCOM NEW17296742417,244400,000SH SOLE 400,00000
CLEAR CHANNEL OUTDOOR HLDGSCOM18453H106321321,006SH SOLE 321,00600
CONTURA ENERGY INCCOM21241B10022731,042SH SOLE 31,04200
CURO GROUP HOLDINGS CORPCOM23131L1071,410200,000SH SOLE 200,00000
EDISON INTLCOM2810201073,81375,000SH SOLE 75,00000
EPR PPTYSCOM SH BEN INT26884U109171,0626,220,453SH SOLE 6,220,45300
EQUITRANS MIDSTREAM CORPCOM29460010126,4863,130,760SH SOLE 3,130,76000
GAMING & LEISURE PPTYS INCCOM36467J1086,362172,283SH SOLE 172,28300
GUESS INCNOTE 2.000% 4/1401617AD710,53813,170,000PRN SOLE 13,170,00000
HALLIBURTON COCOM40621610114712,200SH SOLE 12,20000
HERC HLDGS INCCOM42704L10418,353463,352SH SOLE 463,35200
HILTON GRAND VACATIONS INCCOM43283X1057,998381,214SH SOLE 381,21400
IHEARTMEDIA INCCOM CL A45174J50912515,451SH SOLE 15,45100
KAR AUCTION SVCS INCCOM48238T1098,264573,858SH SOLE 573,85800
LAUREATE EDUCATION INCCL A51861320316,3341,229,985SH SOLE 1,229,98500
LOMA NEGRA CORPSPONSORED ADS54150E10428,0216,501,380SH SOLE 6,501,38000
MDC PARTNERS INCCL A SUB VTG5526971043,8362,382,814SH SOLE 2,382,81400
MERCER INTL INCCOM58805610113,6672,070,724SH SOLE 2,070,72400
METLIFE INCCOM59156R10810,222275,000SH SOLE 275,00000
MGIC INVT CORP WISCOM55284810328,6593,234,596SH SOLE 3,234,59600
MICRON TECHNOLOGY INCCOM5951121034,696100,000SH SOLE 100,00000
MYLAN NVSHS EURON594651091,483100,000SH SOLE 100,00000
PG&E CORPCOM69331C108200,48621,351,038SH SOLE 21,351,03800
PLAYA HOTELS & RESORTS NVSHSN7054410618,2004,343,629SH SOLE 4,343,62900
RADIAN GROUP INCCOM75023610136,7072,512,427SH SOLE 2,512,42700
SANDRIDGE ENERGY INCCOM NEW80007P869197119,347SH SOLE 119,34700
SELECT SECTOR SPDR TRSBI INT-UTILS81369Y8864,45475,000SH SOLE 75,00000
SERVICE PPTYS TRCOM SH BEN INT81761L10255,1356,935,166SH SOLE 6,935,16600
STEALTHGAS INCSHSY816691067,1732,415,287SH SOLE 2,415,28700
STUDIO CITY INTL HLDGS LTDSPON ADS86389T10626,0571,737,108SH SOLE 1,737,10800
TAKEDA PHARMACEUTICAL CO LTDSPONSORED ADS8740602055,620315,006SH SOLE 315,00600
TAUBMAN CTRS INCCOM87666410335,5951,069,221SH SOLE 1,069,22100
TELECOM ARGENTINA S ASPON ADR REP B8792732099,6931,482,084SH SOLE 1,482,08400
TENET HEALTHCARE CORPCOM NEW88033G40726,1241,065,831SH SOLE 1,065,83100
VEREIT INCCOM92339V100184,41628,371,673SH SOLE 28,371,67300
VERSO CORPCL A92531L2074,690594,433SH SOLE 594,43300
VIACOMCBS INCCL B92556H20610,761384,200SH SOLE 384,20000
VICI PPTYS INCCOM92565210913,240566,531SH SOLE 566,53100
VORNADO RLTY TRSH BEN INT92904210947,3301,404,042SH SOLE 1,404,04200
WELLS FARGO CO NEWCOM94974610173,4683,124,957SH SOLE 3,124,95700
YPF SOCIEDAD ANONIMASPON ADR CL D9842451002,926819,676SH SOLE 819,67600