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
ADVANCED MICRO DEVICES INC COM 007903107 14,250 5,000,000 SH Put DFND 1 0 5,000,000 0
AMERICAN RAILCAR INDS INC COM 02916P103 8,146 200,000 SH Put DFND 1 0 200,000 0
APOLLO COML REAL EST FIN INC COM 03762U105 21,218 1,301,746 SH   DFND 1 0 1,301,746 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 6,985 520,558 SH   DFND 1 0 520,558 0
APOLLO SR FLOATING RATE FD I COM 037636107 1,600 105,236 SH   DFND 1 0 105,236 0
APOLLO INVT CORP COM 03761U106 47,530 8,563,896 SH   DFND 1 0 8,563,896 0
APOLLO TACTICAL INCOME FD IN COM 037638103 71 5,236 SH   DFND 1 0 5,236 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 669 50,000 SH   DFND 1 0 50,000 0
BANK N S HALIFAX COM 064149107 3,175 65,000 SH Put DFND 1 0 65,000 0
BBX CAP CORP CL A PAR $0.01 05540P100 93 5,873 SH   DFND 1 0 5,873 0
BROOKDALE SR LIVING INC NOTE 2.750% 6/1 112463AA2 18,121 19,000,000 PRN   DFND 1 0 19,000,000 0
CAESARS ACQUISITION CO CL A 12768T103 171,330 27,995,124 SH   DFND 2 0 27,995,124 0
CAESARS ENTMT CORP COM 127686103 180,168 26,495,304 SH   DFND 2 0 26,495,304 0
CALPINE CORP COM NEW 131347304 3,034 200,000 SH   DFND 1 0 200,000 0
CANADIAN NAT RES LTD COM 136385101 10,800 400,000 SH Put DFND 1 0 400,000 0
CEMEX SAB DE CV NOTE 3.750% 3/1 151290BC6 19,030 18,250,000 PRN   DFND 1 0 18,250,000 0
CENVEO CORP NOTE 7.000% 5/1 15671BAJ0 1,147 2,250,000 PRN   DFND 1 0 2,250,000 0
CF INDS HLDGS INC COM 125269100 1,096 35,000 SH   DFND 1 0 35,000 0
CHEMOURS CO COM 163851108 774 110,700 SH   DFND 1 0 110,700 0
CUMULUS MEDIA INC CL A 231082108 278 600,000 SH   DFND 1 0 600,000 0
DCP MIDSTREAM PARTNERS LP COM UT LTD PTN 23311P100 8,169 300,000 SH Put DFND 1 0 300,000 0
EP ENERGY CORP CL A 268785102 508,934 112,596,207 SH   DFND 2 0 112,596,207 0
FREEPORT-MCMORAN INC CL B 35671D857 4,859 470,000 SH Put DFND 1 0 470,000 0
GATX CORP COM 361448103 9,500 200,000 SH Put DFND 1 0 200,000 0
GENCO SHIPPING & TRADING LTD SHS NEW Y2685T115 6,553 10,240,593 SH   DFND 1 0 10,240,593 0
INTERNATIONAL BUSINESS MACHS COM 459200101 43,284 285,800 SH Put DFND 1 0 285,800 0
ISHARES TR IBOXX HI YD ETF 464288513 51,056 625,000 SH Put DFND 1 0 625,000 0
ISTAR INC COM 45031U101 10,629 1,100,338 SH   DFND 1 0 1,100,338 0
ISTAR INC NOTE 3.000%11/1 45031UBR1 61,433 59,500,000 PRN   DFND 1 0 59,500,000 0
J G WENTWORTH CO CL A 46618D108 610 500,000 SH   DFND 1 0 500,000 0
LEAR CORP COM NEW 521865204 167 1,505 SH   DFND 1 0 1,505 0
MANITOWOC INC COM 563571108 2,598 600,000 SH Put DFND 1 0 600,000 0
NMI HLDGS INC CL A 629209305 2,525 500,000 SH   DFND 1 0 500,000 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 1,996,178 36,103,782 SH   DFND 2 0 36,103,782 0
PATTERN ENERGY GROUP INC CL A 70338P100 1,907 100,000 SH Put DFND 1 0 100,000 0
RADIO ONE INC CL D NON VTG 75040P405 1,420 1,000,000 SH   DFND 1 0 1,000,000 0
RELM WIRELESS CORP COM 759525108 854 188,971 SH   DFND 1 0 188,971 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 16,957 350,000 SH Put DFND 1 0 350,000 0
SCIENTIFIC GAMES CORP CL A 80874P109 3,756 398,400 SH Call DFND 1 0 398,400 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 51,750 2,300,000 SH Put DFND 1 0 2,300,000 0
SEMPRA ENERGY COM 816851109 8,324 80,000 SH Put DFND 1 0 80,000 0
SOLARCITY CORP COM 83416T100 3,687 150,000 SH Put DFND 1 0 150,000 0
SOLAREDGE TECHNOLOGIES INC COM 83417M104 7,542 300,000 SH Put DFND 1 0 300,000 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 156,195 760,000 SH Put DFND 1 0 760,000 0
STAPLES INC COM 855030102 6,618 600,000 SH   DFND 1 0 600,000 0
SUNEDISON INC COM 86732Y109 4,945 9,155,800 SH Put DFND 1 0 9,155,800 0
SUNEDISON INC NOTE 2.375% 4/1 86732YAH2 75 2,000,000 PRN   DFND 1 0 2,000,000 0
SUNRUN INC COM 86771W105 324 50,000 SH Put DFND 1 0 50,000 0
TECK RESOURCES LTD CL B 878742204 684 90,000 SH Put DFND 1 0 90,000 0
TIME WARNER INC COM NEW 887317303 3,627 50,000 SH Call DFND 1 0 50,000 0
TRONOX LTD SHS CL A Q9235V101 255 40,000 SH   DFND 1 0 40,000 0
UNITED STATES STL CORP NEW COM 912909108 3,370 210,000 SH Put DFND 1 0 210,000 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 789 30,000 SH Call DFND 1 0 30,000 0
WALTER INVT MGMT CORP COM 93317W102 191 25,000 SH   DFND 1 0 25,000 0
WALTER INVT MGMT CORP NOTE 4.500%11/0 93317WAA0 35,929 60,962,000 PRN   DFND 1 0 60,962,000 0
WESTERN DIGITAL CORP COM 958102105 4,724 100,000 SH Put DFND 1 0 100,000 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 36,308 2,765,344 SH   DFND 1 0 2,765,344 0