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
Expires: July 31, 2015
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
AMERICAN AXLE & MFG HLDGS IN COM 024061103 16,300,912 2,543,044 SH SOLE NONE 2,543,044 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 13,076,400 2,040,000 SH Call SOLE NONE 2,040,000 0 0
BARRICK MNG CORP COM SHS 06849F108 8,492,250 195,000 SH Call SOLE NONE 195,000 0 0
DIGITALOCEAN HLDGS INC COM 25402D102 8,180,400 170,000 SH Put SOLE NONE 170,000 0 0
EDISON INTL COM 281020107 18,606,200 310,000 SH Call SOLE NONE 310,000 0 0
FLUOR CORP NEW COM 343412102 5,944,500 150,000 SH Call SOLE NONE 150,000 0 0
FRANKLIN STR PPTYS CORP COM 35471R106 6,250,298 6,608,478 SH SOLE NONE 6,608,478 0 0
FREEPORT-MCMORAN INC CL B 35671D857 7,618,500 150,000 SH Call SOLE NONE 150,000 0 0
INTEL CORP COM 458140100 5,535,000 150,000 SH Call SOLE NONE 150,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 119,387,600 485,000 SH Put SOLE NONE 485,000 0 0
KENVUE INC COM 49177J102 5,175,000 300,000 SH Call SOLE NONE 300,000 0 0
KIMBERLY-CLARK CORP COM 494368103 12,106,800 120,000 SH Call SOLE NONE 120,000 0 0
KOSMOS ENERGY LTD NOTE 3.125% 3/1 500688AH9 12,169,000 28,300,000 PRN SOLE NONE 28,300,000 0 0
LITHIUM ARGENTINA AG NOTE 1.750% 1/1 53680QAA6 8,630,750 9,500,000 PRN SOLE NONE 9,500,000 0 0
LKQ CORP COM 501889208 6,040,000 200,000 SH Call SOLE NONE 200,000 0 0
NEWMONT CORP COM 651639106 9,985,000 100,000 SH Call SOLE NONE 100,000 0 0
ON SEMICONDUCTOR CORP NOTE 0.500% 3/0 682189AU9 12,328,625 13,000,000 PRN SOLE NONE 13,000,000 0 0
PG&E CORP NOTE 4.250%12/0 69331CAL2 25,748,750 25,000,000 PRN SOLE NONE 25,000,000 0 0
PG&E CORP COM 69331C108 6,428,000 400,000 SH Call SOLE NONE 400,000 0 0
ROCKET LAB CORP COM 773121108 4,185,600 60,000 SH Put SOLE NONE 60,000 0 0
SHARKNINJA INC COM SHS G8068L108 13,987,500 125,000 SH Call SOLE NONE 125,000 0 0
SHIFT4 PMTS INC NOTE 0.500% 8/0 82452JAD1 9,633,500 10,000,000 PRN SOLE NONE 10,000,000 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 6,412,500 450,000 SH Call SOLE NONE 450,000 0 0
SINCLAIR INC CL A 829242106 14,042,003 917,778 SH SOLE NONE 917,778 0 0
SIX FLAGS ENTERTAINMENT CORP COM 83001C108 1,557,010 101,500 SH SOLE NONE 101,500 0 0
SPDR GOLD TR GOLD SHS 78463V107 29,723,250 75,000 SH Call SOLE NONE 75,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 163,660,800 240,000 SH Put SOLE NONE 240,000 0 0
SPDR SERIES TRUST STATE STREET SPD 78464A755 10,361,000 100,000 SH Put SOLE NONE 100,000 0 0
TRONOX HOLDINGS PLC SHS G9087Q102 625,500 150,000 SH SOLE NONE 150,000 0 0
VALE S A SPONSORED ADS 91912E105 26,711,500 2,050,000 SH Call SOLE NONE 2,050,000 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106 12,222,225 142,500 SH Call SOLE NONE 142,500 0 0
XEROX HOLDINGS CORP NOTE 3.750% 3/1 98421MAE6 6,443,250 21,300,000 PRN SOLE NONE 21,300,000 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 6,870,400 190,000 SH Put SOLE NONE 190,000 0 0