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
ALLERGAN PLC PFD CONV SER A G0177J116 44,847 53,800 SH   DFND 1,2 53,800 0 0
AMERICAN CAP LTD COM 02503Y103 61,039 3,855,884 SH   DFND 1,2 3,855,884 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 68,526 1,295,640 SH   DFND 1,2 1,295,640 0 0
ASHFORD HOSPITALITY TR INC 9% CUM PFD SER E 044103505 1,211 47,135 SH   DFND 1,2 47,135 0 0
BAIDU INC SPON ADR REP A 056752108 153,863 931,659 SH   DFND 1,2 931,659 0 0
CAPITAL ONE FINL CORP COM 14040H105 46,604 733,800 SH   DFND 1,2 733,800 0 0
CDK GLOBAL INC COM 12508E101 68,792 1,239,717 SH   DFND 1,2 1,239,717 0 0
CDW CORP COM 12514G108 7,022 175,211 SH   DFND 1,2 175,211 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 85,044 371,955 SH   DFND 1,2 371,955 0 0
CIGNA CORPORATION COM 125509109 40,209 314,159 SH   DFND 1,2 314,159 0 0
CITIGROUP INC COM NEW 172967424 161,569 3,811,500 SH   DFND 1,2 3,811,500 0 0
CITIZENS FINL GROUP INC COM 174610105 130,413 6,527,200 SH   DFND 1,2 6,527,200 0 0
COLONY CAP INC CONV PFD-C 19624R403 5,639 241,073 SH   DFND 1,2 241,073 0 0
COMCAST CORP NEW CL A 20030N101 171,662 2,633,249 SH   DFND 1,2 2,633,249 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 9,777 90,383 SH   DFND 1,2 90,383 0 0
FEDEX CORP COM 31428X106 141,990 935,500 SH   DFND 1,2 935,500 0 0
FEDEX CORP COM 31428X106 7,680 50,600 SH Call DFND 1,2 50,600 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 62,760 422,400 SH   DFND 1,2 422,400 0 0
GROUP 1 AUTOMOTIVE INC COM 398905109 21,897 443,625 SH   DFND 1,2 443,625 0 0
HCA HOLDINGS INC COM 40412C101 166,272 2,159,097 SH   DFND 1,2 2,159,097 0 0
INGRAM MICRO INC CL A 457153104 13,066 375,687 SH   DFND 1,2 375,687 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 87,645 342,417 SH   DFND 1,2 342,417 0 0
KLX INC COM 482539103 19,695 635,332 SH   DFND 1,2 635,332 0 0
MASTERCARD INC CL A 57636Q104 144,676 1,642,927 SH   DFND 1,2 1,642,927 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 35,620 3,488,750 SH   DFND 1,2 3,488,750 0 0
ORACLE CORP COM 68389X105 84,402 2,062,106 SH   DFND 1,2 2,062,106 0 0
ORION ENGINEERED CARBONS S A COM L72967109 28,169 1,772,779 SH   DFND 1,2 1,772,779 0 0
SOLARCITY CORP COM 83416T100 12,977 542,300 SH Put DFND 1,2 542,300 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 39,535 312,600 SH Call DFND 1,2 312,600 0 0
TRINSEO S A SHS L9340P101 34,323 799,506 SH   DFND 1,2 799,506 0 0
TRIPLE-S MGMT CORP CL B 896749108 11,054 452,458 SH   DFND 1,2 452,458 0 0
VEDANTA LTD SPONSORED ADR 92242Y100 8,440 1,072,482 SH   DFND 1,2 1,072,482 0 0
WESTROCK CO COM 96145D105 88,521 2,277,372 SH   DFND 1,2 2,277,372 0 0
WMIH CORP COM 92936P100 6,147 2,769,100 SH   DFND 1,2 2,769,100 0 0