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 15,813 198,825 SH   DFND 1 198,825 0 0
AMAZON COM INC COM 023135106 11,174 15,615 SH   DFND 1 15,615 0 0
AMAZON COM INC COM 023135106 254,331 355,400 SH Call DFND 1 0 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 57,026 2,014,325 SH   DFND 1 2,014,325 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 2,299 116,000 SH   DFND 1 116,000 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 2,045 135,000 SH   DFND 1 135,000 0 0
APPLE INC COM 037833100 820 8,580 SH   DFND 1 8,580 0 0
APPLE INC COM 037833100 372,333 3,894,700 SH Call DFND 1 0 0 0
ARLINGTON ASSET INVT CORP CL A NEW 041356205 1,691 130,000 SH   DFND 1 130,000 0 0
BGC PARTNERS INC CL A 05541T101 1,972 226,400 SH   DFND 1 226,400 0 0
BANK AMER CORP COM 060505104 51,777 3,901,775 SH   DFND 1 3,901,775 0 0
BLUCORA INC NOTE 4.250% 4/0 095229AB6 1,850 2,000,000 PRN   DFND 1 2,000,000 0 0
CIGNA CORPORATION COM 125509109 23,182 181,120 SH   DFND 1 181,120 0 0
CYS INVTS INC COM 12673A108 1,925 230,000 SH   DFND 1 230,000 0 0
CAPITALA FIN CORP COM 14054R106 2,429 173,500 SH   DFND 1 173,500 0 0
CARLYLE GROUP L P COM UTS LTD PTN 14309L102 1,136 70,000 SH   DFND 1 70,000 0 0
CHIMERA INVT CORP COM NEW 16934Q208 3,297 210,000 SH   DFND 1 210,000 0 0
CITIGROUP INC COM NEW 172967424 42,627 1,005,600 SH   DFND 1 1,005,600 0 0
COMMUNICATIONS SALES&LEAS IN COM 20341J104 981 33,940 SH   DFND 1 33,940 0 0
COMPASS DIVERSIFIED HOLDINGS SH BEN INT 20451Q104 1,493 90,000 SH   DFND 1 90,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 73,375 2,014,150 SH   DFND 1 2,014,150 0 0
ENDURANCE INTL GROUP HLDGS I COM 29272B105 49,976 5,559,100 SH   DFND 1 5,559,100 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 2,210 500,000 SH   DFND 1 500,000 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 2,876 313,000 SH   DFND 1 313,000 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 1,606 325,000 SH   DFND 1 325,000 0 0
FRONTIER COMMUNICATIONS CORP PFD CONV SER-A 35906A207 2,655 28,000 SH   DFND 1 28,000 0 0
GAMESTOP CORP NEW CL A 36467W109 30,836 1,160,125 SH   DFND 1 1,160,125 0 0
GENWORTH FINL INC COM CL A 37247D106 40,327 15,630,550 SH   DFND 1 15,630,550 0 0
GILEAD SCIENCES INC COM 375558103 40,087 480,550 SH   DFND 1 480,550 0 0
INTREXON CORP COM 46122T102 75,601 3,071,975 SH   DFND 1 3,071,975 0 0
JMP GROUP LLC COM 46629U107 1,629 300,000 SH   DFND 1 300,000 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 47,395 2,340,475 SH   DFND 1 2,340,475 0 0
JD COM INC SPON ADR CL A 47215P106 23,884 1,125,000 SH   DFND 1 1,125,000 0 0
LENNAR CORP CL A 526057104 77,395 1,678,850 SH   DFND 1 1,678,850 0 0
MGIC INVT CORP WIS COM 552848103 48,233 8,106,350 SH   DFND 1 8,106,350 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 2,001 75,000 SH   DFND 1 75,000 0 0
MVC CAPITAL INC COM 553829102 1,147 142,600 SH   DFND 1 142,600 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 27,028 2,400,350 SH   DFND 1 2,400,350 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 4,066 225,000 SH   DFND 1 225,000 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 2,875 207,750 SH   DFND 1 207,750 0 0
NORTHSTAR RLTY FIN CORP COM 66704R803 2,874 251,450 SH   DFND 1 251,450 0 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 1,827 242,000 SH   DFND 1 242,000 0 0
ONEMAIN HLDGS INC COM 68268W103 64,683 2,834,475 SH   DFND 1 2,834,475 0 0
PANDORA MEDIA INC COM 698354107 69,011 5,543,075 SH   DFND 1 5,543,075 0 0
PENNYMAC MTG INVT TR COM 70931T103 2,272 140,000 SH   DFND 1 140,000 0 0
PENNYMAC FINL SVCS INC CL A 70932B101 18,205 1,457,550 SH   DFND 1 1,457,550 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 64,459 7,258,875 SH   DFND 1 7,258,875 0 0
PULTE GROUP INC COM 745867101 77,224 3,962,225 SH   DFND 1 3,962,225 0 0
QUOTIENT TECHNOLOGY INC COM 749119103 86,353 6,439,425 SH   DFND 1 6,439,425 0 0
RADIAN GROUP INC COM 750236101 16,526 1,585,975 SH   DFND 1 1,585,975 0 0
STARWOOD PPTY TR INC COM 85571B105 3,009 145,200 SH   DFND 1 145,200 0 0
TRI POINTE GROUP INC COM 87265H109 23,967 2,027,650 SH   DFND 1 2,027,650 0 0
TAYLOR MORRISON HOME CORP CL A 87724P106 33,042 2,226,525 SH   DFND 1 2,226,525 0 0
TRIANGLE CAP CORP COM 895848109 3,571 184,278 SH   DFND 1 184,278 0 0
TRIPLEPOINT VENTURE GROWTH B COM 89677Y100 1,300 122,711 SH   DFND 1 122,711 0 0
TWITTER INC COM 90184L102 31,448 1,859,699 SH   DFND 1 1,859,699 0 0
TWITTER INC COM 90184L102 61,197 3,619,000 SH Call DFND 1 0 0 0
UNITED CONTL HLDGS INC COM 910047109 55,145 1,343,700 SH   DFND 1 1,343,700 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 40,407 2,006,300 SH   DFND 1 2,006,300 0 0
VEREIT INC COM 92339V100 3,904 385,000 SH   DFND 1 385,000 0 0
ZIOPHARM ONCOLOGY INC COM 98973P101 27,483 5,005,921 SH   DFND 1 5,005,921 0 0
ENDO INTL PLC SHS G30401106 27,212 1,745,475 SH   DFND 1 1,745,475 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 19,782 812,075 SH   DFND 1 812,075 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 33,169 5,419,725 SH   DFND 1 5,419,725 0 0
NXP SEMICONDUCTORS N V COM N6596X109 63,201 806,750 SH   DFND 1 806,750 0 0