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
ABERDEEN STD GOLD ETF TRPHYSCL GOLD SHS00326A10481745,000SH SOLE 45,00000
ADIENT PLCORD SHSG0084W1012,686155,000SH SOLE 155,00000
ADIENT PLCORD SHSG0084W1018,232475,000SH DFND1475,00000
AMPLIFY ENERGY CORP NEWCOM03212B1031,0061,178,833SH SOLE 1,178,83300
AMPLIFY ENERGY CORP NEWCOM03212B103211246,700SH DFND2246,70000
APOLLO COML REAL EST FIN INCNOTE 4.750% 8/203762UAB116,87417,935,000PRN DFND117,935,00000
APOLLO COML REAL EST FIN INCNOTE 4.750% 8/203762UAB111,96312,715,000PRN SOLE 12,715,00000
APOLLO COML REAL EST FIN INCNOTE 5.375%10/103762UAC911,55112,875,000PRN DFND112,875,00000
APOLLO COML REAL EST FIN INCNOTE 5.375%10/103762UAC915,14316,878,000PRN SOLE 16,878,00000
BOYD GAMING CORPCOM1033041012,46380,250SH SOLE 80,25000
CHENIERE ENERGY INCCOM NEW16411R2083,29371,100SH SOLE 71,10000
CLEAR CHANNEL OUTDOOR HLDGSCOM18453H10611,83111,950,532SH DFND111,950,53200
CLEAR CHANNEL OUTDOOR HLDGSCOM18453H1066,1786,240,269SH SOLE 6,240,26900
CLEAR CHANNEL OUTDOOR HLDGSCOM18453H106345348,687SH DFND2348,68700
CLIPPER RLTY INCCOM18885T3064,845800,843SH DFND1800,84300
CLIPPER RLTY INCCOM18885T3061,641271,211SH SOLE 271,21100
CNX RES CORPCOM12653C1081,184125,400SH SOLE 125,40000
COLONY CR REAL ESTATE INCCOM CL A19625T101739150,500SH SOLE 150,50000
COMMSCOPE HLDG CO INCCOM20337X1095,409601,000SH DFND1601,00000
COMMSCOPE HLDG CO INCCOM20337X1092,844316,000SH SOLE 316,00000
CONSTELLIUM SECL A SHSF211071013,093394,000SH SOLE 394,00000
CONSTELLIUM SECL A SHSF211071017,403943,000SH DFND1943,00000
CORNERSTONE BLDG BRANDS INCCOM21925D1091,037130,000SH SOLE 130,00000
CUMULUS MEDIA INCCOM CL A2310828016,9841,300,508SH SOLE 1,300,50800
CUMULUS MEDIA INCCOM CL A2310828012,232415,559SH DFND1415,55900
CUMULUS MEDIA INCCOM CL A2310828011,231229,262SH DFND2229,26200
DHT HOLDINGS INCSHS NEWY2065G1211,032200,000SH SOLE 200,00000
DIEBOLD NXDF INCCOM2536511031,699222,338SH SOLE 222,33800
DIEBOLD NXDF INCCOM2536511034,367571,550SH DFND1571,55000
DISH NETWORK CORPORATIONCL A25470M10952518,100SH SOLE 18,10000
EDISON INTLCOM2810201072,79655,000SH SOLE 55,00000
FERRO CORPCOM31540510014,4961,169,000SH DFND11,169,00000
FERRO CORPCOM3154051006,845552,000SH SOLE 552,00000
FIRSTENERGY CORPCOM3379321072,32481,000SH SOLE 81,00000
FORTERRA INCCOM34960W1063,286278,000SH SOLE 278,00000
FORTERRA INCCOM34960W1066,619560,000SH DFND1560,00000
GLOBAL SHIP LEASE INC NEWCOM CL AY271836001,628236,000SH SOLE 236,00000
GRANITE PT MTG TR INCNOTE 6.375%10/038741LAC11,8181,960,000PRN DFND11,960,00000
GRANITE PT MTG TR INCNOTE 6.375%10/038741LAC1454490,000PRN SOLE 490,00000
HOUGHTON MIFFLIN HARCOURT COCOM44157R109749433,000SH SOLE 433,00000
HOWMET AEROSPACE INCCOM4432011081,42185,000SH SOLE 85,00000
IHEARTMEDIA INCCOM CL A45174J5091,813223,267SH DFND2223,26700
IHEARTMEDIA INCCOM CL A45174J5097,969981,452SH DFND1981,45200
IHEARTMEDIA INCCOM CL A45174J50913,4551,657,068SH SOLE 1,657,06800
IRSA INVERSIONES Y REP S AGLOBL DEP RCPT450047204291103,175SH SOLE 103,17500
IRSA PROPIEDADES COMERCIALESSPONSORED ADR46358810355971,938SH SOLE 71,93800
ISHARES SILVER TRISHARES46428Q10945,4442,100,000SHCallSOLE 2,100,00000
ISHARES TRIBOXX HI YD ETF464288513196,7462,345,000SHCallDFND12,345,00000
ISHARES TRIBOXX HI YD ETF464288513306,6553,655,000SHCallSOLE 3,655,00000
ISHARES TRRUSSELL 2000 ETF464287655194,7271,300,000SHPutDFND11,300,00000
ISHARES TRIBOXX HI YD ETF464288513125,8501,500,000SHPutSOLE 1,500,00000
ISHARES TRRUSSELL 2000 ETF464287655283,8521,895,000SHPutSOLE 1,895,00000
LIBERTY LATIN AMERICA LTDNOTE 2.000% 7/153069QAB521,02025,595,000PRN SOLE 25,595,00000
LIBERTY LATIN AMERICA LTDNOTE 2.000% 7/153069QAB53,0303,690,000PRN DFND23,690,00000
LIBERTY MEDIA CORP DELDEB 3.750% 2/1530715AL59,75613,365,000PRN DFND213,365,00000
LIBERTY MEDIA CORP DELDEB 3.750% 2/1530715AL593,631128,261,000PRN SOLE 128,261,00000
MAGNACHIP SEMICONDUCTOR CORPCOM55933J20322,0991,613,041SH DFND11,613,04100
MAGNACHIP SEMICONDUCTOR CORPCOM55933J2036,080443,765SH SOLE 443,76500
MAGNACHIP SEMICONDUCTOR SANOTE 5.000% 3/055932XAB015,1978,979,000PRN SOLE 8,979,00000
MAGNACHIP SEMICONDUCTOR SANOTE 5.000% 3/055932XAB01,8621,100,000PRN DFND21,100,00000
MAGNACHIP SEMICONDUCTOR SANOTE 5.000% 3/055932XAB020,10711,880,000PRN DFND111,880,00000
NESCO HLDGS INCCOM64083J1041,141277,600SH SOLE 277,60000
NMI HLDGS INCCL A62920930554330,500SH SOLE 30,50000
NORWEGIAN CRUISE LINE HLDG LSHSG6672110480447,000SH SOLE 47,00000
ONEMAIN HLDGS INCCOM68268W10310,674341,571SH DFND1341,57100
ONEMAIN HLDGS INCCOM68268W1033,545113,429SH SOLE 113,42900
PG&E CORPCOM69331C1083,618385,338SH DFND1385,33800
PG&E CORPCOM69331C10814,7061,566,118SH SOLE 1,566,11800
PG&E CORPCOM69331C10812,9541,379,500SHCallDFND11,379,50000
PG&E CORPCOM69331C1084,944526,500SHCallSOLE 526,50000
PLAYAGS INCCOM72814N104708200,000SH SOLE 200,00000
RED ROCK RESORTS INCCL A75700L1082,377139,000SH SOLE 139,00000
RESOURCE CAP CORPNOTE 4.500% 8/176120WAC817,30319,405,000PRN DFND119,405,00000
RESOURCE CAP CORPNOTE 4.500% 8/176120WAC811,52712,927,000PRN SOLE 12,927,00000
SANDRIDGE ENERGY INCCOM NEW80007P8694225,161SH DFND225,16100
SANDRIDGE ENERGY INCCOM NEW80007P86914990,389SH SOLE 90,38900
SPDR GOLD TRGOLD SHS78463V10763,763360,000SHCallSOLE 360,00000
SPDR S&P 500 ETF TRTR UNIT78462F103241,121720,000SHPutDFND1720,00000
SPDR S&P 500 ETF TRTR UNIT78462F103466,8371,394,000SHPutSOLE 1,394,00000
STARWOOD PPTY TR INCNOTE 4.375% 4/085571BAH81,7191,800,000PRN SOLE 1,800,00000
TPG RE FIN TR INCCOM87266M1072,837335,400SH SOLE 335,40000
TPG RE FIN TR INCCOM87266M1074,365515,900SH DFND1515,90000
TRECORA RESCOM894648104757123,291SH SOLE 123,29100
TURNING PT BRANDS INCCOM90041L1059,055324,798SH SOLE 324,79800
VANECK VECTORS ETF TRGOLD MINERS ETF92189F10648912,500SH SOLE 12,50000
VISTRA CORPCOM92840M1021,913101,447SH DFND2101,44700
VISTRA CORP*W EXP 02/02/20292840M1281729,389SH SOLE 29,38900
VISTRA CORPCOM92840M10214,500768,817SH SOLE 768,81700