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
AERCAP HOLDINGS NV SHS N00985106 9,684 167,508 SH   SOLE   167,508 0 0
ALCOA CORP COM 013872106 9,005 184,000 SH   SOLE   184,000 0 0
ALTICE USA INC CL A 02156K103 12,328 595,000 SH   SOLE   595,000 0 0
AMBAC FINL GROUP INC *W EXP 04/30/202 023139116 151 39,906 SH   SOLE   39,906 0 0
BAUSCH HEALTH COS INC COM 071734107 260,192 9,342,618 SH   SOLE   9,342,618 0 0
BERKSHIRE GREY INC *W EXP 07/21/202 084656115 135 111,666 SH   SOLE   111,666 0 0
BERKSHIRE GREY INC COM CL A 084656107 9,385 1,335,000 SH   SOLE   1,335,000 0 0
BERRY GLOBAL GROUP INC COM 08579W103 12,106 198,843 SH   SOLE   198,843 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 42,030 812,337 SH   SOLE   812,337 0 0
CALIFORNIA RES CORP COM STOCK 13057Q305 426,333 10,395,132 SH   SOLE   10,395,132 0 0
CAPRI HOLDINGS LIMITED SHS G1890L107 35,966 742,951 SH   SOLE   742,951 0 0
CENTURY ALUM CO COM 156431108 8,278 615,495 SH   SOLE   615,495 0 0
CHESAPEAKE ENERGY CORP COM 165167735 36,875 598,721 SH   SOLE   598,721 0 0
COMCAST CORP NEW CL A 20030N101 23,172 414,299 SH   SOLE   414,299 0 0
COMMSCOPE HLDG CO INC COM 20337X109 4,421 325,306 SH   SOLE   325,306 0 0
COUPANG INC CL A 22266T109 4,805 172,545 SH   SOLE   172,545 0 0
DELL TECHNOLOGIES INC CL C 24703L202 32,856 315,805 SH   SOLE   315,805 0 0
EAGLE BULK SHIPPING INC COM Y2187A150 54,627 1,083,449 SH   SOLE   1,083,449 0 0
EQUITRANS MIDSTREAM CORP COM 294600101 36,621 3,611,552 SH   SOLE   3,611,552 0 0
FIRST AMERN FINL CORP COM 31847R102 15,757 235,000 SH   SOLE   235,000 0 0
FOOT LOCKER INC COM 344849104 27,736 607,438 SH   SOLE   607,438 0 0
FOX CORP CL A COM 35137L105 37,331 930,710 SH   SOLE   930,710 0 0
FRONTIER COMMUNICATIONS PARE COM 35909D109 119,607 4,287,528 SH   SOLE   4,287,528 0 0
LAS VEGAS SANDS CORP COM 517834107 18,666 510,000 SH   SOLE   510,000 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 13,391 1,020,676 SH   SOLE   1,020,676 0 0
MACYS INC COM 55616P104 12,528 554,343 SH   SOLE   554,343 0 0
MACYS INC COM 55616P104 36,750 1,750,000 SH Call SOLE   1,750,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 7,324 169,725 SH   SOLE   169,725 0 0
NATURAL RESOURCE PARTNERS L COM UNIT LTD PAR 63900P608 12,858 543,469 SH   SOLE   543,469 0 0
NEXSTAR MEDIA GROUP INC CL A 65336K103 15,956 105,000 SH   SOLE   105,000 0 0
NOBLE CORP NEW SHS G6610J209 88,720 3,275,677 SH   SOLE   3,275,677 0 0
NRG ENERGY INC COM NEW 629377508 20,785 509,069 SH   SOLE   509,069 0 0
OCCIDENTAL PETE CORP *W EXP 08/03/202 674599162 120 10,156 SH   SOLE   10,156 0 0
ONEMAIN HLDGS INC COM 68268W103 62,686 1,132,948 SH   SOLE   1,132,948 0 0
POPULAR INC COM NEW 733174700 35,936 462,673 SH   SOLE   462,673 0 0
PULTE GROUP INC COM 745867101 13,152 286,415 SH   SOLE   286,415 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 118,800 2,200,000 SH Call SOLE   2,200,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 13,182 101,421 SH   SOLE   101,421 0 0
TECK RESOURCES LTD CL B 878742204 48,454 1,945,172 SH   SOLE   1,945,172 0 0
TEGNA INC COM 87901J105 14,858 753,451 SH   SOLE   753,451 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 31,499 474,099 SH   SOLE   474,099 0 0
THRYV HLDGS INC COM NEW 886029206 89,985 2,995,517 SH   SOLE   2,995,517 0 0
TIM S A SPONSORED ADR 88706T108 14,208 1,322,875 SH   SOLE   1,322,875 0 0
VALARIS LIMITED CL A G9460G101 252,390 7,235,727 SH   SOLE   7,235,727 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 43,121 2,791,027 SH   SOLE   2,791,027 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 244,041 13,002,200 SH Call SOLE   13,002,200 0 0