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
ABERCROMBIE & FITCH CO CL A 002896207 40,160 1,153,032 SH   SOLE   1,153,032 0 0
AERCAP HOLDINGS NV SHS N00985106 32,817 501,631 SH   SOLE   501,631 0 0
ALCOA CORP COM 013872106 13,689 229,755 SH   SOLE   229,755 0 0
ALGOMA STL GROUP INC COM 015658107 47,792 4,421,120 SH   SOLE   4,421,120 0 0
AMBAC FINL GROUP INC *W EXP 04/30/202 023139116 166 39,906 SH   SOLE   39,906 0 0
BAUSCH HEALTH COS INC COM 071734107 164,214 5,947,619 SH   SOLE   5,947,619 0 0
BERKSHIRE GREY INC *W EXP 07/21/202 084656115 101 111,666 SH   SOLE   111,666 0 0
BERKSHIRE GREY INC COM CL A 084656107 7,342 1,335,000 SH   SOLE   1,335,000 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 61,749 720,436 SH   SOLE   720,436 0 0
CALIFORNIA RES CORP COM STOCK 13057Q305 406,938 9,526,506 SH   SOLE   9,526,506 0 0
CAPRI HOLDINGS LIMITED SHS G1890L107 17,066 262,919 SH   SOLE   262,919 0 0
CENTURY ALUM CO COM 156431108 14,615 882,520 SH   SOLE   882,520 0 0
COMCAST CORP NEW CL A 20030N101 13,526 268,756 SH   SOLE   268,756 0 0
COTERRA ENERGY INC COM 127097103 32,142 1,691,675 SH   SOLE   1,691,675 0 0
DELL TECHNOLOGIES INC CL C 24703L202 29,289 521,430 SH   SOLE   521,430 0 0
FIRST AMERN FINL CORP COM 31847R102 30,756 393,154 SH   SOLE   393,154 0 0
FOOT LOCKER INC COM 344849104 28,293 648,482 SH   SOLE   648,482 0 0
FOX CORP CL A COM 35137L105 26,784 725,867 SH   SOLE   725,867 0 0
FRONTIER COMMUNICATIONS PARE COM 35909D109 118,021 3,998,026 SH   SOLE   3,998,026 0 0
LAS VEGAS SANDS CORP COM 517834107 30,259 803,915 SH   SOLE   803,915 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 15,085 1,323,271 SH   SOLE   1,323,271 0 0
MACYS INC COM 55616P104 29,871 1,140,993 SH   SOLE   1,140,993 0 0
NATURAL RESOURCE PARTNERS L COM UNIT LTD PAR 63900P608 18,163 543,469 SH   SOLE   543,469 0 0
NEXSTAR MEDIA GROUP INC CL A 65336K103 38,085 252,253 SH   SOLE   252,253 0 0
NOBLE CORP NEW SHS G6610J209 89,416 3,601,104 SH   SOLE   3,601,104 0 0
NORWEGIAN CRUISE LINE HLDG L SHS G66721104 4,749 228,956 SH   SOLE   228,956 0 0
NRG ENERGY INC COM NEW 629377508 16,876 391,737 SH   SOLE   391,737 0 0
OCCIDENTAL PETE CORP *W EXP 08/03/202 674599162 128 10,156 SH   SOLE   10,156 0 0
ONEMAIN HLDGS INC COM 68268W103 77,211 1,542,984 SH   SOLE   1,542,984 0 0
POPULAR INC COM NEW 733174700 37,958 462,673 SH   SOLE   462,673 0 0
PULTE GROUP INC COM 745867101 16,371 286,415 SH   SOLE   286,415 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 153,400 2,600,000 SH Call SOLE   2,600,000 0 0
TEGNA INC COM 87901J105 43,259 2,330,773 SH   SOLE   2,330,773 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 53,694 657,284 SH   SOLE   657,284 0 0
THRYV HLDGS INC COM NEW 886029206 32,851 798,704 SH   SOLE   798,704 0 0
TIM S A SPONSORED ADR 88706T108 12,885 1,106,946 SH   SOLE   1,106,946 0 0
VALARIS LIMITED CL A G9460G101 266,609 7,405,584 SH   SOLE   7,405,584 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 63,270 4,237,793 SH   SOLE   4,237,793 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 210,088 12,299,300 SH Call SOLE   12,299,300 0 0