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
ALASKA COMMUNICATIONS SYS GR NOTE 6.250% 5/0 01167PAE1 975 1,000,000 PRN   DFND 1 1,000,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 22,425 269,400 SH   DFND 1 269,400 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 3,755 180,000 SH   DFND 1 180,000 0 0
AMAZON COM INC COM 023135106 47,750 128,325 SH   DFND 1 128,325 0 0
AMAZON COM INC COM 023135106 114,939 1,132,400 SH Call DFND 1 0 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 126,906 2,404,425 SH   DFND 1 2,404,425 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 1,743 81,700 SH   DFND 1 81,700 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 934 52,000 SH   DFND 1 52,000 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 4,778 485,000 SH   DFND 1 485,000 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 2,052 95,000 SH   DFND 1 95,000 0 0
APPLE INC COM 037833100 59,507 478,230 SH   DFND 1 478,230 0 0
APPLE INC COM 037833100 96,520 3,069,000 SH Call DFND 1 0 0 0
BGC PARTNERS INC CL A 05541T101 1,856 196,400 SH   DFND 1 196,400 0 0
BANK AMER CORP COM 060505104 62,795 4,080,225 SH   DFND 1 4,080,225 0 0
BEST BUY INC COM 086516101 18,118 479,425 SH   DFND 1 479,425 0 0
BOYD GAMING CORP COM 103304101 52,635 3,706,675 SH   DFND 1 3,706,675 0 0
CIGNA CORPORATION COM 125509109 54,336 419,775 SH   DFND 1 419,775 0 0
CYS INVTS INC COM 12673A108 1,112 124,700 SH   DFND 1 124,700 0 0
CAPSTEAD MTG CORP COM NO PAR 14067E506 1,236 105,000 SH   DFND 1 105,000 0 0
CHESAPEAKE ENERGY CORP COM 165167107 22,026 1,555,475 SH   DFND 1 1,555,475 0 0
CHIMERA INVT CORP COM 16934Q109 1,731 551,000 SH   DFND 1 551,000 0 0
CITIGROUP INC COM NEW 172967424 55,735 1,081,800 SH   DFND 1 1,081,800 0 0
COMPASS DIVERSIFIED HOLDINGS SH BEN INT 20451Q104 1,539 90,000 SH   DFND 1 90,000 0 0
COUPONS COM INC COM 22265J102 36,989 3,150,675 SH   DFND 1 3,150,675 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 108,094 2,404,225 SH   DFND 1 2,404,225 0 0
DONNELLEY R R & SONS CO COM 257867101 851 44,300 SH   DFND 1 44,300 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 30,684 1,074,525 SH   DFND 1 1,074,525 0 0
EBAY INC COM 278642103 41,516 719,750 SH   DFND 1 719,750 0 0
ELLINGTON FINANCIAL LLC COM 288522303 976 49,000 SH   DFND 1 49,000 0 0
ENDURANCE INTL GROUP HLDGS I COM 29272B105 72,073 3,781,350 SH   DFND 1 3,781,350 0 0
FIFTH STREET FINANCE CORP COM 31678A103 3,504 480,000 SH   DFND 1 480,000 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 1,626 201,400 SH   DFND 1 201,400 0 0
GAMESTOP CORP NEW CL A 36467W109 60,332 1,589,350 SH   DFND 1 1,589,350 0 0
GENERAL MTRS CO COM 37045V100 41,397 1,103,900 SH   DFND 1 1,103,900 0 0
GENWORTH FINL INC COM CL A 37247D106 75,651 10,348,925 SH   DFND 1 10,348,925 0 0
GILEAD SCIENCES INC COM 375558103 52,902 539,100 SH   DFND 1 539,100 0 0
GROUPON INC COM CL A 399473107 38,726 5,371,100 SH   DFND 1 5,371,100 0 0
HCI GROUP INC COM 40416E103 1,514 33,000 SH   DFND 1 33,000 0 0
HATTERAS FINL CORP COM 41902R103 2,403 132,300 SH   DFND 1 132,300 0 0
HERBALIFE LTD NOTE 2.000% 8/1 42703MAB9 2,490 3,000,000 PRN   DFND 1 3,000,000 0 0
HI-CRUSH PARTNERS LP COM UNIT LTD 428337109 842 24,000 SH   DFND 1 24,000 0 0
INTREXON CORP COM 46122T102 133,577 2,944,150 SH   DFND 1 2,944,150 0 0
IRIDIUM COMMUNICATIONS INC PERP PFD CNV B 46269C409 915 2,600 SH   DFND 1 2,600 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 55,177 2,506,875 SH   DFND 1 2,506,875 0 0
JD COM INC SPON ADR CL A 47215P106 22,066 751,025 SH   DFND 1 751,025 0 0
KKR & CO L P DEL COM UNITS 48248M102 1,449 63,500 SH   DFND 1 63,500 0 0
KB HOME COM 48666K109 44,195 2,829,350 SH   DFND 1 2,829,350 0 0
LENNAR CORP CL A 526057104 94,797 1,829,700 SH   DFND 1 1,829,700 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 9,729 180,700 SH   DFND 1 180,700 0 0
LINNCO LLC COMSHS LTD INT 535782106 751 78,400 SH   DFND 1 78,400 0 0
MGIC INVT CORP WIS COM 552848103 84,396 8,763,825 SH   DFND 1 8,763,825 0 0
MVC CAPITAL INC COM 553829102 1,352 142,600 SH   DFND 1 142,600 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 38,616 1,558,950 SH   DFND 1 1,558,950 0 0
NETFLIX INC COM 64110L106 62,427 149,815 SH   DFND 1 149,815 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 6,777 283,200 SH   DFND 1 283,200 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 2,161 143,750 SH   DFND 1 143,750 0 0
NEW SR INVT GROUP INC COM 648691103 599 35,966 SH   DFND 1 35,966 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 3,568 196,900 SH   DFND 1 196,900 0 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 1,686 104,300 SH   DFND 1 104,300 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 786 15,200 SH   DFND 1 15,200 0 0
OCH ZIFF CAP MGMT GROUP CL A 67551U105 1,493 118,100 SH   DFND 1 118,100 0 0
PANDORA MEDIA INC COM 698354107 71,996 4,441,450 SH   DFND 1 4,441,450 0 0
PENNYMAC MTG INVT TR COM 70931T103 2,981 140,000 SH   DFND 1 140,000 0 0
PENNYMAC FINL SVCS INC CL A 70932B101 26,416 1,556,575 SH   DFND 1 1,556,575 0 0
PITNEY BOWES INC COM 724479100 609 26,100 SH   DFND 1 26,100 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 92,492 3,604,500 SH   DFND 1 3,604,500 0 0
PRICELINE GRP INC COM NEW 741503403 41,887 35,980 SH   DFND 1 35,980 0 0
PULTE GROUP INC COM 745867101 90,833 4,086,050 SH   DFND 1 4,086,050 0 0
QUAD / GRAPHICS INC COM CL A 747301109 669 29,100 SH   DFND 1 29,100 0 0
QIWI PLC SPON ADR REP B 74735M108 1,221 50,800 SH   DFND 1 50,800 0 0
QUALCOMM INC COM 747525103 59,247 854,440 SH   DFND 1 854,440 0 0
RADIAN GROUP INC COM 750236101 28,407 1,691,875 SH   DFND 1 1,691,875 0 0
REDWOOD TR INC COM 758075402 730 40,800 SH   DFND 1 40,800 0 0
RESOURCE CAP CORP COM 76120W302 684 150,600 SH   DFND 1 150,600 0 0
SPRINGLEAF HLDGS INC COM 85172J101 30,911 597,075 SH   DFND 1 597,075 0 0
STARWOOD PPTY TR INC COM 85571B105 3,529 145,200 SH   DFND 1 145,200 0 0
STONEMOR PARTNERS L P COM UNITS 86183Q100 1,729 60,000 SH   DFND 1 60,000 0 0
TAL INTL GROUP INC COM 874083108 954 23,400 SH   DFND 1 23,400 0 0
TAYLOR MORRISON HOME CORP CL A 87724P106 39,538 1,896,260 SH   DFND 1 1,896,260 0 0
TRIANGLE CAP CORP COM 895848109 3,906 171,213 SH   DFND 1 171,213 0 0
TRIPLEPOINT VENTR GRW BDC CO COM 89677Y100 1,569 111,169 SH   DFND 1 111,169 0 0
TWITTER INC COM 90184L102 9,027 180,250 SH   DFND 1 180,250 0 0
UNITED CONTL HLDGS INC COM 910047109 113,207 1,683,375 SH   DFND 1 1,683,375 0 0
WINDSTREAM HLDGS INC COM 97382A101 1,256 169,700 SH   DFND 1 169,700 0 0
ZIOPHARM ONCOLOGY INC COM 98973P101 32,310 3,000,000 SH   DFND 1 3,000,000 0 0
ZULILY INC CL A 989774104 56,163 4,323,500 SH   DFND 1 4,323,500 0 0
ABENGOA YIELD PLC ORD SHS G00349103 3,547 105,000 SH   DFND 1 105,000 0 0
BLUE CAP REINS HLDGS LTD COM G1190F107 435 25,100 SH   DFND 1 25,100 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 53,970 1,037,275 SH   DFND 1 1,037,275 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 1,373 32,600 SH   DFND 1 32,600 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 97,988 6,007,825 SH   DFND 1 6,007,825 0 0
NXP SEMICONDUCTORS N V COM N6596X109 96,248 959,025 SH   DFND 1 959,025 0 0
NORDIC AMERN OFFSHORE LTD SHS Y6366T112 733 80,000 SH   DFND 1 80,000 0 0