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
ABBOTT LABS COM 002824100 22,466 644,100 SH   SOLE 2,3 644,100 0 0
ABBOTT LABS COM 002824100 6,805 195,100 SH   DFND 1 0 195,100 0
ABBVIE INC COM 00287Y109 649 15,700 SH   SOLE 2,3 15,700 0 0
ABBVIE INC COM 00287Y109 236 5,700 SH   DFND 1 0 5,700 0
AFLAC INC COM 001055102 1,622 27,900 SH   SOLE   27,900 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 2,025 24,600 SH   SOLE 3 24,600 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 1,062 12,900 SH   DFND 1 0 12,900 0
ALLIANT TECHSYSTEMS INC NOTE 3.000% 8/1 018804AK0 10,064 8,775,000 PRN   SOLE 2,3 8,775,000 0 0
ALLIANT TECHSYSTEMS INC NOTE 3.000% 8/1 018804AK0 2,724 2,375,000 PRN   DFND 1 0 2,375,000 0
AMERICAN INTL GROUP INC COM NEW 026874784 9,329 208,700 SH   SOLE 2,3 208,700 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 2,830 63,300 SH   DFND 1 0 63,300 0
AMERISAFE INC COM 03071H100 991 30,600 SH   SOLE   30,600 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 945 66,100 SH   SOLE 2,3 66,100 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 285 19,900 SH   DFND 1 0 19,900 0
ARCH CAP GROUP LTD ORD G0450A105 15,699 305,373 SH   SOLE 2,3 305,373 0 0
ARCH CAP GROUP LTD ORD G0450A105 1,753 34,100 SH   DFND 1 0 34,100 0
ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 19,306 19,150,000 PRN   SOLE 2,3 19,150,000 0 0
ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 5,898 5,850,000 PRN   DFND 1 0 5,850,000 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 19,495 525,603 SH   SOLE 2,3 525,603 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 3,053 82,300 SH   DFND 1 0 82,300 0
AURICO GOLD INC COM 05155C105 693 158,614 SH   SOLE 2,3 158,614 0 0
AURICO GOLD INC COM 05155C105 221 50,491 SH   DFND 1 0 50,491 0
AUTOMATIC DATA PROCESSING IN COM 053015103 40,028 581,300 SH   SOLE 2,3 581,300 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 12,443 180,700 SH   DFND 1 0 180,700 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 13,473 294,300 SH   SOLE 3 294,300 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 2,106 46,000 SH   DFND 1 0 46,000 0
BARRICK GOLD CORP COM 067901108 8,654 549,800 SH   SOLE 2,3 549,800 0 0
BARRICK GOLD CORP COM 067901108 2,709 172,100 SH   DFND 1 0 172,100 0
BEAM INC COM 073730103 14,957 237,000 SH   SOLE 2,3 237,000 0 0
BEAM INC COM 073730103 4,758 75,400 SH   DFND 1 0 75,400 0
BERKLEY W R CORP COM 084423102 3,338 81,700 SH   SOLE 3 81,700 0 0
BERKLEY W R CORP COM 084423102 584 14,300 SH   DFND 1 0 14,300 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 54,013 482,600 SH   SOLE 2,3 482,600 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 7,857 70,200 SH   DFND 1 0 70,200 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 271 10,200 SH   SOLE   10,200 0 0
BSB BANCORP INC MD COM 05573H108 308 23,400 SH   SOLE 3 23,400 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 11,264 669,700 SH   SOLE 2,3 669,700 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 3,594 213,700 SH   DFND 1 0 213,700 0
CADENCE DESIGN SYSTEM INC COM 127387108 410 28,300 SH   SOLE 3 28,300 0 0
CAMPBELL SOUP CO COM 134429109 14,525 324,300 SH   SOLE 2,3 324,300 0 0
CAMPBELL SOUP CO COM 134429109 4,658 104,000 SH   DFND 1 0 104,000 0
CAPE BANCORP INC COM 139209100 335 35,300 SH   SOLE 3 35,300 0 0
CELADON GROUP INC COM 150838100 2,146 117,600 SH   SOLE 3 117,600 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 1,526 84,800 SH   SOLE 3 84,800 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 956 53,100 SH   DFND 1 0 53,100 0
CHEMED CORP NEW NOTE 1.875% 5/1 16359RAC7 6,308 6,000,000 PRN   SOLE 2,3 6,000,000 0 0
CHEMED CORP NEW NOTE 1.875% 5/1 16359RAC7 2,103 2,000,000 PRN   DFND 1 0 2,000,000 0
CHICOPEE BANCORP INC COM 168565109 1,412 83,571 SH   SOLE 3 83,571 0 0
CHIQUITA BRANDS INTL INC NOTE 4.250% 8/1 170032AT3 4,205 4,400,000 PRN   SOLE 2,3 4,400,000 0 0
CHIQUITA BRANDS INTL INC NOTE 4.250% 8/1 170032AT3 1,051 1,100,000 PRN   DFND 1 0 1,100,000 0
CHUBB CORP COM 171232101 24,592 290,509 SH   SOLE 3 290,509 0 0
CHURCH & DWIGHT INC COM 171340102 8,623 139,742 SH   SOLE 3 139,742 0 0
CHURCH & DWIGHT INC COM 171340102 1,827 29,600 SH   DFND 1 0 29,600 0
CIRCOR INTL INC COM 17273K109 1,482 29,140 SH   SOLE 3 29,140 0 0
CISCO SYS INC COM 17275R102 5,219 214,700 SH   SOLE 3 214,700 0 0
CISCO SYS INC COM 17275R102 1,352 55,600 SH   DFND 1 0 55,600 0
CIT GROUP INC COM NEW 125581801 1,665 35,700 SH   SOLE 2,3 35,700 0 0
CIT GROUP INC COM NEW 125581801 602 12,900 SH   DFND 1 0 12,900 0
CITIGROUP INC COM NEW 172967424 8,190 170,729 SH   SOLE 3 170,729 0 0
CITIGROUP INC COM NEW 172967424 1,506 31,390 SH   DFND 1 0 31,390 0
CITY NATL CORP COM 178566105 1,413 22,300 SH   SOLE 3 22,300 0 0
CITY NATL CORP COM 178566105 691 10,900 SH   DFND 1 0 10,900 0
CLIFTON SVGS BANCORP INC COM 18712Q103 600 50,600 SH   SOLE 3 50,600 0 0
CNA FINL CORP COM 126117100 19,357 593,400 SH   SOLE 2,3 593,400 0 0
CNA FINL CORP COM 126117100 2,208 67,700 SH   DFND 1 0 67,700 0
COCA COLA CO COM 191216100 1,917 47,800 SH   SOLE   47,800 0 0
COCA COLA ENTERPRISES INC NE COM 19122T109 11,497 327,000 SH   SOLE 2,3 327,000 0 0
COCA COLA ENTERPRISES INC NE COM 19122T109 3,664 104,200 SH   DFND 1 0 104,200 0
COMTECH TELECOMMUNICATIONS C NOTE 3.000% 5/0 205826AF7 7,251 7,100,000 PRN   SOLE 2,3 7,100,000 0 0
COMTECH TELECOMMUNICATIONS C NOTE 3.000% 5/0 205826AF7 1,685 1,650,000 PRN   DFND 1 0 1,650,000 0
CONOCOPHILLIPS COM 20825C104 25,156 415,800 SH   SOLE 2,3 415,800 0 0
CONOCOPHILLIPS COM 20825C104 7,998 132,200 SH   DFND 1 0 132,200 0
CORNING INC COM 219350105 17,900 1,257,900 SH   SOLE 2,3 1,257,900 0 0
CORNING INC COM 219350105 5,765 405,100 SH   DFND 1 0 405,100 0
CU BANCORP CALIF COM 126534106 648 41,000 SH   SOLE 3 41,000 0 0
CURTISS WRIGHT CORP COM 231561101 13,123 354,100 SH   SOLE 2,3 354,100 0 0
CURTISS WRIGHT CORP COM 231561101 4,214 113,700 SH   DFND 1 0 113,700 0
DOLE FOOD CO INC NEW COM 256603101 5,314 416,800 SH   SOLE 2,3 416,800 0 0
DOLE FOOD CO INC NEW COM 256603101 1,698 133,200 SH   DFND 1 0 133,200 0
DOMTAR CORP COM NEW 257559203 29,467 443,107 SH   SOLE 2,3 443,107 0 0
DOMTAR CORP COM NEW 257559203 9,111 137,000 SH   DFND 1 0 137,000 0
DONEGAL GROUP INC CL A 257701201 2,445 175,000 SH   SOLE 2,3 175,000 0 0
DONEGAL GROUP INC CL A 257701201 798 57,100 SH   DFND 1 0 57,100 0
DREAMWORKS ANIMATION SKG INC CL A 26153C103 9,279 361,600 SH   SOLE 2,3 361,600 0 0
DREAMWORKS ANIMATION SKG INC CL A 26153C103 3,038 118,400 SH   DFND 1 0 118,400 0
DU PONT E I DE NEMOURS & CO COM 263534109 26,927 512,900 SH   SOLE 2,3 512,900 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 9,944 189,400 SH   DFND 1 0 189,400 0
E M C CORP MASS COM 268648102 3,798 160,800 SH   SOLE 3 160,800 0 0
E M C CORP MASS COM 268648102 1,259 53,300 SH   DFND 1 0 53,300 0
EBAY INC COM 278642103 1,608 31,100 SH   SOLE   31,100 0 0
EBAY INC COM 278642103 403 7,800 SH   DFND 1 0 7,800 0
EMPIRE DIST ELEC CO COM 291641108 2,119 95,000 SH   SOLE 3 95,000 0 0
EMPIRE DIST ELEC CO COM 291641108 694 31,100 SH   DFND 1 0 31,100 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 9,518 185,000 SH   SOLE 3 185,000 0 0
ENERGIZER HLDGS INC COM 29266R108 11,227 111,700 SH   SOLE 2,3 111,700 0 0
ENERGIZER HLDGS INC COM 29266R108 3,699 36,800 SH   DFND 1 0 36,800 0
FIFTH THIRD BANCORP COM 316773100 6,561 363,500 SH   SOLE 3 363,500 0 0
FIFTH THIRD BANCORP COM 316773100 1,457 80,700 SH   DFND 1 0 80,700 0
FIRST AMERN FINL CORP COM 31847R102 6,381 289,500 SH   SOLE 2,3 289,500 0 0
FIRST AMERN FINL CORP COM 31847R102 2,070 93,900 SH   DFND 1 0 93,900 0
FIRST CONN BANCORP INC MD COM 319850103 221 15,900 SH   SOLE 3 15,900 0 0
FIRST DEFIANCE FINL CORP COM 32006W106 1,123 49,800 SH   SOLE 3 49,800 0 0
FIRST SEC GROUP INC COM NEW 336312202 1,302 600,000 SH   SOLE   600,000 0 0
FIRSTENERGY CORP COM 337932107 10,399 278,501 SH   SOLE 2,3 278,501 0 0
FIRSTENERGY CORP COM 337932107 3,234 86,600 SH   DFND 1 0 86,600 0
FORESTAR GROUP INC COM 346233109 12,108 603,600 SH   SOLE 2,3 603,600 0 0
FORESTAR GROUP INC COM 346233109 3,563 177,600 SH   DFND 1 0 177,600 0
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 3,914 3,475,000 PRN   SOLE 2,3 3,475,000 0 0
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 1,408 1,250,000 PRN   DFND 1 0 1,250,000 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 3,843 99,200 SH   SOLE 2,3 99,200 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 1,251 32,300 SH   DFND 1 0 32,300 0
FOX CHASE BANCORP INC NEW COM 35137T108 2,767 162,755 SH   SOLE 3 162,755 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 401 23,600 SH   DFND 1 0 23,600 0
FRANKLIN RES INC COM 354613101 25,656 188,619 SH   SOLE 3 188,619 0 0
FRANKLIN RES INC COM 354613101 4,230 31,100 SH   DFND 1 0 31,100 0
FULLER H B CO COM 359694106 2,526 66,800 SH   SOLE 3 66,800 0 0
FULLER H B CO COM 359694106 1,289 34,100 SH   DFND 1 0 34,100 0
GALLAGHER ARTHUR J & CO COM 363576109 4,142 94,800 SH   SOLE 3 94,800 0 0
GENERAL MLS INC COM 370334104 3,945 81,300 SH   SOLE   81,300 0 0
GENERAL MLS INC COM 370334104 1,349 27,800 SH   DFND 1 0 27,800 0
GENTEX CORP COM 371901109 620 26,900 SH   SOLE 3 26,900 0 0
GLOBAL CASH ACCESS HLDGS INC COM 378967103 742 118,600 SH   SOLE 3 118,600 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 13,455 2,562,800 SH   SOLE 2,3 2,562,800 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 4,392 836,600 SH   DFND 1 0 836,600 0
GREENHILL & CO INC COM 395259104 1,670 36,500 SH   SOLE 3 36,500 0 0
HAEMONETICS CORP COM 405024100 587 14,200 SH   SOLE 3 14,200 0 0
HARRIS TEETER SUPERMARKETS I COM 414585109 750 16,000 SH   SOLE 3 16,000 0 0
HESS CORP COM 42809H107 51,244 770,700 SH   SOLE 2,3 770,700 0 0
HESS CORP COM 42809H107 15,233 229,100 SH   DFND 1 0 229,100 0
HILLSHIRE BRANDS CO COM 432589109 10,605 320,580 SH   SOLE 2,3 320,580 0 0
HILLSHIRE BRANDS CO COM 432589109 3,000 90,680 SH   DFND 1 0 90,680 0
HOLOGIC INC FRNT 2.000%12/1 436440AB7 7,021 6,300,000 PRN   SOLE 2,3 6,300,000 0 0
HOLOGIC INC FRNT 2.000%12/1 436440AB7 1,894 1,700,000 PRN   DFND 1 0 1,700,000 0
HOME DEPOT INC COM 437076102 6,275 81,000 SH   SOLE 3 81,000 0 0
HOME DEPOT INC COM 437076102 2,107 27,200 SH   DFND 1 0 27,200 0
HOMETRUST BANCSHARES INC COM 437872104 4,126 243,300 SH   SOLE 3 243,300 0 0
HOMETRUST BANCSHARES INC COM 437872104 2,054 121,100 SH   DFND 1 0 121,100 0
HORACE MANN EDUCATORS CORP N COM 440327104 346 14,200 SH   SOLE   14,200 0 0
HORSEHEAD HLDG CORP NOTE 3.800% 7/0 440694AB3 2,134 2,000,000 PRN   SOLE 2,3 2,000,000 0 0
HORSEHEAD HLDG CORP NOTE 3.800% 7/0 440694AB3 533 500,000 PRN   DFND 1 0 500,000 0
HOSPIRA INC COM 441060100 8,191 213,800 SH   SOLE 2,3 213,800 0 0
HOSPIRA INC COM 441060100 2,613 68,200 SH   DFND 1 0 68,200 0
HOWARD HUGHES CORP COM 44267D107 639 5,700 SH   SOLE 3 5,700 0 0
HYATT HOTELS CORP COM CL A 448579102 5,806 143,865 SH   SOLE 3 143,865 0 0
HYATT HOTELS CORP COM CL A 448579102 1,162 28,800 SH   DFND 1 0 28,800 0
ILLINOIS TOOL WKS INC COM 452308109 1,771 25,600 SH   SOLE   25,600 0 0
ILLINOIS TOOL WKS INC COM 452308109 2,283 33,000 SH   DFND 1 0 33,000 0
INFINITY PPTY & CAS CORP COM 45665Q103 2,737 45,800 SH   SOLE 3 45,800 0 0
INTERCONTINENTALEXCHANGE INC COM 45865V100 2,346 13,200 SH   SOLE 3 13,200 0 0
INTERCONTINENTALEXCHANGE INC COM 45865V100 444 2,500 SH   DFND 1 0 2,500 0
INTEROIL CORP NOTE 2.750%11/1 460951AC0 744 775,000 PRN   SOLE 2,3 775,000 0 0
INTEROIL CORP NOTE 2.750%11/1 460951AC0 216 225,000 PRN   DFND 1 0 225,000 0
INVESCO LTD SHS G491BT108 11,248 353,700 SH   SOLE 3 353,700 0 0
INVESCO LTD SHS G491BT108 3,479 109,400 SH   DFND 1 0 109,400 0
J & J SNACK FOODS CORP COM 466032109 1,719 22,100 SH   SOLE 3 22,100 0 0
JACK IN THE BOX INC COM 466367109 731 18,600 SH   SOLE 3 18,600 0 0
JANUS CAP GROUP INC NOTE 3.250% 7/1 47102XAG0 1,093 1,050,000 PRN   SOLE 3 1,050,000 0 0
JOHNSON & JOHNSON COM 478160104 39,921 464,950 SH   SOLE 2,3 464,950 0 0
JOHNSON & JOHNSON COM 478160104 13,729 159,900 SH   DFND 1 0 159,900 0
JPMORGAN CHASE & CO COM 46625H100 19,796 375,000 SH   SOLE   375,000 0 0
JPMORGAN CHASE & CO COM 46625H100 2,729 51,700 SH   DFND 1 0 51,700 0
KINROSS GOLD CORP COM NO PAR 496902404 1,105 216,600 SH   SOLE 3 216,600 0 0
KINROSS GOLD CORP COM NO PAR 496902404 443 86,800 SH   DFND 1 0 86,800 0
L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 5,491 5,400,000 PRN   SOLE 2,3 5,400,000 0 0
L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 1,627 1,600,000 PRN   DFND 1 0 1,600,000 0
LANCASTER COLONY CORP COM 513847103 4,383 56,200 SH   SOLE 3 56,200 0 0
LANCASTER COLONY CORP COM 513847103 2,153 27,600 SH   DFND 1 0 27,600 0
LEGG MASON INC COM 524901105 10,478 337,900 SH   SOLE 2,3 337,900 0 0
LEGG MASON INC COM 524901105 2,577 83,100 SH   DFND 1 0 83,100 0
LEUCADIA NATL CORP COM 527288104 15,423 588,212 SH   SOLE 3 588,212 0 0
LEUCADIA NATL CORP COM 527288104 2,305 87,900 SH   DFND 1 0 87,900 0
LOCKHEED MARTIN CORP COM 539830109 4,197 38,700 SH   SOLE   38,700 0 0
LOCKHEED MARTIN CORP COM 539830109 1,041 9,600 SH   DFND 1 0 9,600 0
LOEWS CORP COM 540424108 27,435 617,900 SH   SOLE 2,3 617,900 0 0
LOEWS CORP COM 540424108 8,662 195,100 SH   DFND 1 0 195,100 0
MAIDEN HOLDINGS LTD SHS G5753U112 1,098 97,900 SH   SOLE   97,900 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 659 27,000 SH   SOLE   27,000 0 0
MARSH & MCLENNAN COS INC COM 571748102 5,369 134,500 SH   SOLE   134,500 0 0
MARSH & MCLENNAN COS INC COM 571748102 719 18,000 SH   DFND 1 0 18,000 0
MATTHEWS INTL CORP CL A 577128101 1,214 32,200 SH   SOLE 3 32,200 0 0
MATTHEWS INTL CORP CL A 577128101 976 25,900 SH   DFND 1 0 25,900 0
MAXIM INTEGRATED PRODS INC COM 57772K101 3,509 126,300 SH   SOLE 3 126,300 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 1,403 50,500 SH   DFND 1 0 50,500 0
MERCK & CO INC NEW COM 58933Y105 3,786 81,498 SH   SOLE 3 81,498 0 0
MERCK & CO INC NEW COM 58933Y105 2,829 60,900 SH   DFND 1 0 60,900 0
MERCURY GENL CORP NEW COM 589400100 1,178 26,800 SH   SOLE   26,800 0 0
METLIFE INC COM 59156R108 7,548 164,951 SH   SOLE 3 164,951 0 0
METLIFE INC COM 59156R108 1,313 28,700 SH   DFND 1 0 28,700 0
METRO BANCORP INC PA COM 59161R101 705 35,180 SH   SOLE 3 35,180 0 0
MICROSOFT CORP COM 594918104 14,679 425,100 SH   SOLE 2,3 425,100 0 0
MICROSOFT CORP COM 594918104 4,251 123,100 SH   DFND 1 0 123,100 0
MONDELEZ INTL INC CL A 609207105 733 25,700 SH   SOLE   25,700 0 0
MONDELEZ INTL INC CL A 609207105 953 33,400 SH   DFND 1 0 33,400 0
MONSTER BEVERAGE CORP COM 611740101 3,731 61,400 SH   SOLE 3 61,400 0 0
MONSTER BEVERAGE CORP COM 611740101 808 13,300 SH   DFND 1 0 13,300 0
MONTPELIER RE HOLDINGS LTD SHS G62185106 11,867 474,500 SH   SOLE 2,3 474,500 0 0
MONTPELIER RE HOLDINGS LTD SHS G62185106 3,111 124,400 SH   DFND 1 0 124,400 0
MURPHY OIL CORP COM 626717102 21,884 359,400 SH   SOLE 2,3 359,400 0 0
MURPHY OIL CORP COM 626717102 8,713 143,100 SH   DFND 1 0 143,100 0
NAVIGATORS GROUP INC COM 638904102 5,020 88,002 SH   SOLE   88,002 0 0
NEENAH PAPER INC COM 640079109 2,103 66,200 SH   SOLE 2,3 66,200 0 0
NEENAH PAPER INC COM 640079109 696 21,900 SH   DFND 1 0 21,900 0
NETAPP INC COM 64110D104 7,431 196,700 SH   SOLE 3 196,700 0 0
NETAPP INC COM 64110D104 1,470 38,900 SH   DFND 1 0 38,900 0
NEWMONT MINING CORP COM 651639106 21,696 724,400 SH   SOLE 2,3 724,400 0 0
NEWMONT MINING CORP COM 651639106 5,936 198,200 SH   DFND 1 0 198,200 0
NEWMONT MINING CORP NOTE 1.250% 7/1 651639AH9 6,363 6,300,000 PRN   SOLE 2,3 6,300,000 0 0
NEWMONT MINING CORP NOTE 1.250% 7/1 651639AH9 1,717 1,700,000 PRN   DFND 1 0 1,700,000 0
NEWMONT MINING CORP NOTE 1.625% 7/1 651639AJ5 4,190 3,900,000 PRN   SOLE 2,3 3,900,000 0 0
NEWMONT MINING CORP NOTE 1.625% 7/1 651639AJ5 1,182 1,100,000 PRN   DFND 1 0 1,100,000 0
NORTHGATE MINERALS CORP NOTE 3.500%10/0 666416AB8 1,484 1,575,000 PRN   SOLE 2,3 1,575,000 0 0
NORTHGATE MINERALS CORP NOTE 3.500%10/0 666416AB8 401 425,000 PRN   DFND 1 0 425,000 0
NORTHROP GRUMMAN CORP COM 666807102 4,869 58,800 SH   SOLE 3 58,800 0 0
NORTHROP GRUMMAN CORP COM 666807102 1,035 12,500 SH   DFND 1 0 12,500 0
NRG ENERGY INC COM NEW 629377508 18,074 676,942 SH   SOLE 2,3 676,942 0 0
NRG ENERGY INC COM NEW 629377508 5,163 193,374 SH   DFND 1 0 193,374 0
NV ENERGY INC COM 67073Y106 3,479 148,280 SH   SOLE 3 148,280 0 0
NV ENERGY INC COM 67073Y106 619 26,400 SH   DFND 1 0 26,400 0
OCEAN SHORE HLDG CO NEW COM 67501R103 696 50,395 SH   SOLE 3 50,395 0 0
OCEANFIRST FINL CORP COM 675234108 3,488 224,300 SH   SOLE 3 224,300 0 0
OCEANFIRST FINL CORP COM 675234108 720 46,300 SH   DFND 1 0 46,300 0
OMNIAMERICAN BANCORP INC COM 68216R107 1,088 49,400 SH   SOLE 3 49,400 0 0
ORACLE CORP COM 68389X105 4,123 134,200 SH   SOLE   134,200 0 0
ORACLE CORP COM 68389X105 1,137 37,000 SH   DFND 1 0 37,000 0
ORITANI FINL CORP DEL COM 68633D103 9,312 593,876 SH   SOLE 3 593,876 0 0
ORITANI FINL CORP DEL COM 68633D103 1,960 125,000 SH   DFND 1 0 125,000 0
PACWEST BANCORP DEL COM 695263103 2,195 71,600 SH   SOLE 3 71,600 0 0
PACWEST BANCORP DEL COM 695263103 910 29,700 SH   DFND 1 0 29,700 0
PATTERSON COMPANIES INC COM 703395103 6,839 181,900 SH   SOLE 3 181,900 0 0
PATTERSON COMPANIES INC COM 703395103 1,324 35,200 SH   DFND 1 0 35,200 0
PAYCHEX INC COM 704326107 9,382 256,900 SH   SOLE 2,3 256,900 0 0
PAYCHEX INC COM 704326107 2,867 78,500 SH   DFND 1 0 78,500 0
PEOPLES FED BANCSHARES INC COM 711037101 406 22,480 SH   SOLE 3 22,480 0 0
PEPSICO INC COM 713448108 14,411 176,200 SH   SOLE 3 176,200 0 0
PEPSICO INC COM 713448108 3,263 39,900 SH   DFND 1 0 39,900 0
PFIZER INC COM 717081103 42,345 1,511,765 SH   SOLE 2,3 1,511,765 0 0
PFIZER INC COM 717081103 12,588 449,400 SH   DFND 1 0 449,400 0
PHH CORP NOTE 4.000% 9/0 693320AN3 21,150 20,000,000 PRN   SOLE 2,3 20,000,000 0 0
PHH CORP NOTE 4.000% 9/0 693320AN3 5,816 5,500,000 PRN   DFND 1 0 5,500,000 0
PICO HLDGS INC COM NEW 693366205 1,335 63,700 SH   SOLE 3 63,700 0 0
PLATINUM UNDERWRITER HLDGS L COM G7127P100 47,994 838,762 SH   SOLE 2,3 838,762 0 0
PLATINUM UNDERWRITER HLDGS L COM G7127P100 8,114 141,800 SH   DFND 1 0 141,800 0
PNC FINL SVCS GROUP INC COM 693475105 13,410 183,900 SH   SOLE   183,900 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,187 43,700 SH   DFND 1 0 43,700 0
POST HLDGS INC COM 737446104 3,628 83,100 SH   SOLE 3 83,100 0 0
POST HLDGS INC COM 737446104 563 12,900 SH   DFND 1 0 12,900 0
POST PPTYS INC COM 737464107 24,102 487,000 SH   SOLE 2,3 487,000 0 0
POST PPTYS INC COM 737464107 7,572 153,000 SH   DFND 1 0 153,000 0
PROCTER & GAMBLE CO COM 742718109 11,177 145,170 SH   SOLE   145,170 0 0
PROCTER & GAMBLE CO COM 742718109 4,581 59,500 SH   DFND 1 0 59,500 0
PROGRESSIVE CORP OHIO COM 743315103 9,619 378,400 SH   SOLE 3 378,400 0 0
PRUDENTIAL FINL INC COM 744320102 1,709 23,400 SH   SOLE   23,400 0 0
PSB HLDGS INC COM 69360W108 626 114,486 SH   SOLE   114,486 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 16,069 492,000 SH   SOLE 2,3 492,000 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 4,736 145,000 SH   DFND 1 0 145,000 0
RTI INTL METALS INC NOTE 1.625%10/1 74973WAB3 3,694 3,925,000 PRN   SOLE 2,3 3,925,000 0 0
RTI INTL METALS INC NOTE 1.625%10/1 74973WAB3 1,012 1,075,000 PRN   DFND 1 0 1,075,000 0
RTI INTL METALS INC NOTE 3.000%12/0 74973WAA5 8,724 8,050,000 PRN   SOLE 2,3 8,050,000 0 0
RTI INTL METALS INC NOTE 3.000%12/0 74973WAA5 2,113 1,950,000 PRN   DFND 1 0 1,950,000 0
SAFETY INS GROUP INC COM 78648T100 2,236 46,100 SH   SOLE   46,100 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 1,605 100,000 SH   SOLE 2 100,000 0 0
SI FINL GROUP INC MD COM 78425V104 169 15,300 SH   SOLE 3 15,300 0 0
SIBANYE GOLD LTD SPONSORED ADR 825724206 1,947 662,200 SH   SOLE 2,3 662,200 0 0
SIBANYE GOLD LTD SPONSORED ADR 825724206 610 207,650 SH   DFND 1 0 207,650 0
SILGAN HOLDINGS INC COM 827048109 3,137 66,800 SH   SOLE 3 66,800 0 0
SILGAN HOLDINGS INC COM 827048109 1,653 35,200 SH   DFND 1 0 35,200 0
SPDR GOLD TRUST GOLD SHS 78463V107 643 5,400 SH   SOLE   5,400 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 17,185 107,400 SH   SOLE   107,400 0 0
STATE AUTO FINL CORP COM 855707105 15,008 826,000 SH   SOLE 2,3 826,000 0 0
STATE AUTO FINL CORP COM 855707105 4,537 249,700 SH   DFND 1 0 249,700 0
SUNCOR ENERGY INC NEW COM 867224107 1,637 55,500 SH   SOLE   55,500 0 0
SUNCOR ENERGY INC NEW COM 867224107 1,643 55,700 SH   DFND 1 0 55,700 0
SYMANTEC CORP COM 871503108 9,307 414,200 SH   SOLE 3 414,200 0 0
SYMANTEC CORP COM 871503108 2,265 100,800 SH   DFND 1 0 100,800 0
SYMETRA FINL CORP COM 87151Q106 34,898 2,182,500 SH   SOLE   2,182,500 0 0
SYSCO CORP COM 871829107 10,388 304,100 SH   SOLE 2,3 304,100 0 0
SYSCO CORP COM 871829107 3,368 98,600 SH   DFND 1 0 98,600 0
TALISMAN ENERGY INC COM 87425E103 10,663 932,900 SH   SOLE 2,3 932,900 0 0
TALISMAN ENERGY INC COM 87425E103 3,453 302,100 SH   DFND 1 0 302,100 0
TECO ENERGY INC COM 872375100 9,795 569,800 SH   SOLE 2,3 569,800 0 0
TECO ENERGY INC COM 872375100 3,091 179,800 SH   DFND 1 0 179,800 0
TELEPHONE & DATA SYS INC COM NEW 879433829 17,469 708,700 SH   SOLE 2,3 708,700 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 5,576 226,200 SH   DFND 1 0 226,200 0
TERADATA CORP DEL COM 88076W103 1,200 23,900 SH   SOLE 3 23,900 0 0
TERADATA CORP DEL COM 88076W103 261 5,200 SH   DFND 1 0 5,200 0
THOMAS PPTYS GROUP INC COM 884453101 3,492 658,803 SH   SOLE 3 658,803 0 0
THOMAS PPTYS GROUP INC COM 884453101 506 95,500 SH   DFND 1 0 95,500 0
TOOTSIE ROLL INDS INC COM 890516107 19,837 624,183 SH   SOLE 2,3 624,183 0 0
TOOTSIE ROLL INDS INC COM 890516107 6,258 196,930 SH   DFND 1 0 196,930 0
TRINITY INDS INC NOTE 3.875% 6/0 896522AF6 14,979 12,775,000 PRN   SOLE 2,3 12,775,000 0 0
TRINITY INDS INC NOTE 3.875% 6/0 896522AF6 4,368 3,725,000 PRN   DFND 1 0 3,725,000 0
TYCO INTERNATIONAL LTD SHS H89128104 2,827 85,800 SH   SOLE 3 85,800 0 0
TYCO INTERNATIONAL LTD SHS H89128104 1,835 55,700 SH   DFND 1 0 55,700 0
UIL HLDG CORP COM 902748102 451 11,800 SH   SOLE 3 11,800 0 0
UNITED FINANCIAL BANCORP INC COM 91030T109 2,315 152,800 SH   SOLE 3 152,800 0 0
UNITED FINANCIAL BANCORP INC COM 91030T109 989 65,300 SH   DFND 1 0 65,300 0
UNS ENERGY CORP COM 903119105 6,980 156,053 SH   SOLE 2,3 156,053 0 0
UNS ENERGY CORP COM 903119105 2,288 51,157 SH   DFND 1 0 51,157 0
UNUM GROUP COM 91529Y106 4,972 169,300 SH   SOLE   169,300 0 0
USEC INC NOTE 3.000%10/0 90333EAC2 14,112 67,200,000 PRN   SOLE 2,3 67,200,000 0 0
USEC INC NOTE 3.000%10/0 90333EAC2 3,129 14,900,000 PRN   DFND 1 0 14,900,000 0
VERISIGN INC COM 92343E102 2,970 66,500 SH   SOLE 3 66,500 0 0
VERISIGN INC COM 92343E102 1,599 35,800 SH   DFND 1 0 35,800 0
WALGREEN CO COM 931422109 17,450 394,800 SH   SOLE 2,3 394,800 0 0
WALGREEN CO COM 931422109 5,636 127,500 SH   DFND 1 0 127,500 0
WAL-MART STORES INC COM 931142103 25,543 342,900 SH   SOLE 2,3 342,900 0 0
WAL-MART STORES INC COM 931142103 7,807 104,800 SH   DFND 1 0 104,800 0
WASHINGTON TR BANCORP COM 940610108 1,024 35,900 SH   SOLE 3 35,900 0 0
WELLPOINT INC COM 94973V107 15,844 193,600 SH   SOLE 3 193,600 0 0
WELLPOINT INC COM 94973V107 2,733 33,400 SH   DFND 1 0 33,400 0
WESTFIELD FINANCIAL INC NEW COM 96008P104 1,623 231,900 SH   SOLE 3 231,900 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 28,747 50,000 SH   SOLE   50,000 0 0
WILLIAMS CLAYTON ENERGY INC COM 969490101 10,118 232,600 SH   SOLE 2,3 232,600 0 0
WILLIAMS CLAYTON ENERGY INC COM 969490101 2,997 68,900 SH   DFND 1 0 68,900 0
WPX ENERGY INC COM 98212B103 4,703 248,300 SH   SOLE 2,3 248,300 0 0
WPX ENERGY INC COM 98212B103 1,453 76,700 SH   DFND 1 0 76,700 0
XEROX CORP COM 984121103 6,761 745,400 SH   SOLE 2,3 745,400 0 0
XEROX CORP COM 984121103 2,218 244,500 SH   DFND 1 0 244,500 0
XILINX INC COM 983919101 6,658 168,100 SH   SOLE 3 168,100 0 0
XILINX INC COM 983919101 1,406 35,500 SH   DFND 1 0 35,500 0
XL GROUP PLC SHS G98290102 7,465 246,200 SH   SOLE 3 246,200 0 0