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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 41,978 516,525 SH   DFND 1 516,525 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 2,234 180,000 SH   DFND 1 180,000 0 0
AMAZON COM INC COM 023135106 92,810 137,315 SH   DFND 1 137,315 0 0
AMAZON COM INC COM 023135106 490,493 725,700 SH Call DFND 1 0 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 109,544 2,586,625 SH   DFND 1 2,586,625 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 2,168 125,000 SH   DFND 1 125,000 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 726 52,000 SH   DFND 1 52,000 0 0
ANGIES LIST INC COM 034754101 30,124 3,221,776 SH   DFND 1 3,221,776 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 2,050 135,000 SH   DFND 1 135,000 0 0
APPLE INC COM 037833100 51,728 491,430 SH   DFND 1 491,430 0 0
APPLE INC COM 037833100 336,927 3,200,900 SH Call DFND 1 0 0 0
BGC PARTNERS INC CL A 05541T101 2,221 226,400 SH   DFND 1 226,400 0 0
BANK AMER CORP COM 060505104 73,841 4,387,425 SH   DFND 1 4,387,425 0 0
BOYD GAMING CORP COM 103304101 75,472 3,798,250 SH   DFND 1 3,798,250 0 0
CIGNA CORPORATION COM 125509109 47,209 322,620 SH   DFND 1 322,620 0 0
CYS INVTS INC COM 12673A108 1,783 250,000 SH   DFND 1 250,000 0 0
CAPSTEAD MTG CORP COM NO PAR 14067E506 918 105,000 SH   DFND 1 105,000 0 0
CHIMERA INVT CORP COM NEW 16934Q208 2,456 180,000 SH   DFND 1 180,000 0 0
CITIGROUP INC COM NEW 172967424 60,263 1,164,500 SH   DFND 1 1,164,500 0 0
COMMUNICATIONS SALES&LEAS IN COM 20341J104 635 33,940 SH   DFND 1 33,940 0 0
COMPASS DIVERSIFIED HOLDINGS SH BEN INT 20451Q104 1,431 90,000 SH   DFND 1 90,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 130,366 2,571,825 SH   DFND 1 2,571,825 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 32,198 1,086,275 SH   DFND 1 1,086,275 0 0
ENDURANCE INTL GROUP HLDGS I COM 29272B105 63,375 5,798,200 SH   DFND 1 5,798,200 0 0
FIFTH STREET FINANCE CORP COM 31678A103 3,092 484,540 SH   DFND 1 484,540 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 2,545 500,000 SH   DFND 1 500,000 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 2,252 200,000 SH   DFND 1 200,000 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 1,518 325,000 SH   DFND 1 325,000 0 0
FRONTIER COMMUNICATIONS CORP PFD CONV SER-A 35906A207 2,565 28,000 SH   DFND 1 28,000 0 0
GAMESTOP CORP NEW CL A 36467W109 46,884 1,672,025 SH   DFND 1 1,672,025 0 0
GENERAL MTRS CO COM 37045V100 44,015 1,294,175 SH   DFND 1 1,294,175 0 0
GENWORTH FINL INC COM CL A 37247D106 48,239 12,932,575 SH   DFND 1 12,932,575 0 0
GILEAD SCIENCES INC COM 375558103 58,445 577,575 SH   DFND 1 577,575 0 0
GREEN BRICK PARTNERS INC COM 392709101 15,477 2,149,521 SH   DFND 1 2,149,521 0 0
GROUPON INC COM CL A 399473107 28,575 9,307,700 SH   DFND 1 9,307,700 0 0
HATTERAS FINL CORP COM 41902R103 2,630 200,000 SH   DFND 1 200,000 0 0
INTREXON CORP COM 46122T102 95,541 3,168,850 SH   DFND 1 3,168,850 0 0
IRIDIUM COMMUNICATIONS INC PERP PFD CNV B 46269C409 801 2,600 SH   DFND 1 2,600 0 0
JMP GROUP LLC COM 46629U107 1,638 300,000 SH   DFND 1 300,000 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 63,886 2,696,725 SH   DFND 1 2,696,725 0 0
JD COM INC SPON ADR CL A 47215P106 50,384 1,561,550 SH   DFND 1 1,561,550 0 0
KB HOME COM 48666K109 47,927 3,886,975 SH   DFND 1 3,886,975 0 0
LENNAR CORP CL A 526057104 101,006 2,065,125 SH   DFND 1 2,065,125 0 0
LIBERTY INTERACTIVE CORP QVC GP COM SER A 53071M104 20,335 744,293 SH   DFND 1 744,293 0 0
MGIC INVT CORP WIS COM 552848103 83,256 9,428,725 SH   DFND 1 9,428,725 0 0
MVC CAPITAL INC COM 553829102 1,051 142,600 SH   DFND 1 142,600 0 0
MATCH GROUP INC COM 57665R106 8,273 610,500 SH   DFND 1 610,500 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 34,461 2,577,425 SH   DFND 1 2,577,425 0 0
NETFLIX INC COM 64110L106 93,154 814,425 SH   DFND 1 814,425 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 4,379 225,000 SH   DFND 1 225,000 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 2,113 173,750 SH   DFND 1 173,750 0 0
NORTHSTAR RLTY FIN CORP COM 66704R803 1,933 113,450 SH   DFND 1 113,450 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 447 37,816 SH   DFND 1 37,816 0 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 1,013 142,000 SH   DFND 1 142,000 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 726 15,200 SH   DFND 1 15,200 0 0
OCH ZIFF CAP MGMT GROUP CL A 67551U105 1,527 245,000 SH   DFND 1 245,000 0 0
ONEMAIN HLDGS INC COM 68268W103 33,647 809,975 SH   DFND 1 809,975 0 0
PANDORA MEDIA INC COM 698354107 77,761 5,798,725 SH   DFND 1 5,798,725 0 0
PENNYMAC MTG INVT TR COM 70931T103 2,137 140,000 SH   DFND 1 140,000 0 0
PENNYMAC FINL SVCS INC CL A 70932B101 25,853 1,683,075 SH   DFND 1 1,683,075 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 84,528 6,588,275 SH   DFND 1 6,588,275 0 0
PRICELINE GRP INC COM NEW 741503403 46,893 36,780 SH   DFND 1 36,780 0 0
PULTE GROUP INC COM 745867101 87,269 4,897,225 SH   DFND 1 4,897,225 0 0
QUALCOMM INC COM 747525103 36,813 736,465 SH   DFND 1 736,465 0 0
QUOTIENT TECHNOLOGY INC COM 749119103 30,911 4,532,375 SH   DFND 1 4,532,375 0 0
RADIAN GROUP INC COM 750236101 24,386 1,821,175 SH   DFND 1 1,821,175 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 14,832 72,750 SH   DFND 1 72,750 0 0
STARWOOD PPTY TR INC COM 85571B105 2,986 145,200 SH   DFND 1 145,200 0 0
STONEMOR PARTNERS L P COM UNITS 86183Q100 1,604 60,000 SH   DFND 1 60,000 0 0
TRI POINTE GROUP INC COM 87265H109 29,395 2,319,975 SH   DFND 1 2,319,975 0 0
TAYLOR MORRISON HOME CORP CL A 87724P106 41,340 2,583,725 SH   DFND 1 2,583,725 0 0
TRIANGLE CAP CORP COM 895848109 3,379 176,778 SH   DFND 1 176,778 0 0
TRIPLEPOINT VENTURE GROWTH B COM 89677Y100 1,367 114,266 SH   DFND 1 114,266 0 0
TWITTER INC COM 90184L102 15,529 671,075 SH   DFND 1 671,075 0 0
TWITTER INC COM 90184L102 298,610 12,904,500 SH Call DFND 1 0 0 0
UNITED CONTL HLDGS INC COM 910047109 103,744 1,810,525 SH   DFND 1 1,810,525 0 0
VEREIT INC COM 92339V100 3,842 485,000 SH   DFND 1 485,000 0 0
ZIOPHARM ONCOLOGY INC COM 98973P101 39,838 4,793,896 SH   DFND 1 4,793,896 0 0
ABENGOA YIELD PLC ORD SHS G00349103 2,990 155,000 SH   DFND 1 155,000 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 27,104 739,325 SH   DFND 1 739,325 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 1,510 32,600 SH   DFND 1 32,600 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 90,342 6,457,600 SH   DFND 1 6,457,600 0 0
NXP SEMICONDUCTORS N V COM N6596X109 86,791 1,030,150 SH   DFND 1 1,030,150 0 0