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
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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
AG MTG INVT TR INC COM 001228105 7,524 400,000 SH   SOLE   400,000 0 0
AK STL CORP NOTE 5.000%11/1 001546AP5 8,967 10,450,000 PRN   SOLE   10,450,000 0 0
AIRTRAN HLDGS INC NOTE 5.250%11/0 00949PAD0 8,907 6,256,000 PRN   SOLE   6,256,000 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 1,750 66,500 SH   SOLE   66,500 0 0
ALLIANCE DATA SYSTEMS CORP NOTE 4.750% 5/1 018581AC2 87,252 22,927,000 PRN   SOLE   22,927,000 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 9,437 525,000 SH   SOLE   525,000 0 0
ARBITRON INC COM 03875Q108 15,126 325,635 SH   SOLE   325,635 0 0
ARBITRON INC COM 03875Q108 13,183 283,800 SH Call SOLE   283,800 0 0
CEMEX SAB DE CV NOTE 3.750% 3/1 151290BC6 70,833 57,500,000 PRN   SOLE   57,500,000 0 0
CENTRAL EUROPEAN MEDIA NOTE 5.000%11/1 153443AH9 31,331 32,850,000 PRN   SOLE   32,850,000 0 0
CINEDIGM DIGITAL CINEMA CORP COM 172407108 1,956 1,377,613 SH   SOLE   1,377,613 0 0
COBALT INTL ENERGY INC COM 19075F106 2,899 109,100 SH   SOLE   109,100 0 0
CONSUMER PORTFOLIO SVCS INC COM 210502100 3,046 415,000 SH Call SOLE   415,000 0 0
COOPER TIRE & RUBR CO COM 216831107 15,590 470,000 SH   SOLE   470,000 0 0
COOPER TIRE & RUBR CO COM 216831107 4,856 146,400 SH Call SOLE   146,400 0 0
DELL INC COM 24702R101 66,092 4,960,000 SH   SOLE   4,960,000 0 0
DELL INC COM 24702R101 7,878 591,200 SH Call SOLE   591,200 0 0
DOMINION RES INC VA NEW UNIT 04/01/2013 25746U703 17,570 350,000 SH   SOLE   350,000 0 0
DOMINION RES INC VA NEW UNIT 07/01/2016 25746U885 16,266 325,000 SH   SOLE   325,000 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 42,822 5,128,325 SH   SOLE   5,128,325 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 9,881 638,700 SH   SOLE   638,700 0 0
GILEAD SCIENCES INC NOTE 1.000% 5/0 375558AN3 146,334 64,500,000 PRN   SOLE   64,500,000 0 0
HERTZ GLOBAL HOLDINGS INC NOTE 5.250% 6/0 42805TAA3 25,564 8,500,000 PRN   SOLE   8,500,000 0 0
HESS CORP COM 42809H107 39,183 589,300 SH   SOLE   589,300 0 0
HUDSON CITY BANCORP COM 443683107 13,763 1,500,000 SH   SOLE   1,500,000 0 0
INCYTE CORP NOTE 4.750%10/0 45337CAJ1 27,996 10,976,000 PRN   SOLE   10,976,000 0 0
INTEL CORP COM 458140100 5,561 229,500 SH   SOLE   229,500 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 837 50,100 SH   SOLE   50,100 0 0
JINKOSOLAR HOLDING CO LTD NOTE 4.000% 5/1 47759TAA8 6,935 9,500,000 PRN   SOLE   9,500,000 0 0
KB HOME COM 48666K109 2,151 109,600 SH   SOLE   109,600 0 0
LAM RESEARCH CORP COM 512807108 2,275 51,300 SH   SOLE   51,300 0 0
LIFE TECHNOLOGIES CORP COM 53217V109 111,000 1,500,000 SH Call SOLE   1,500,000 0 0
MICRON TECHNOLOGY INC NOTE 1.500% 8/0 595112AQ6 7,675 5,000,000 PRN   SOLE   5,000,000 0 0
MYLAN INC NOTE 3.750% 9/1 628530AJ6 24,885 10,500,000 PRN   SOLE   10,500,000 0 0
NEWMONT MINING CORP COM 651639106 6,188 206,600 SH   SOLE   206,600 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 1,340 72,800 SH   SOLE   72,800 0 0
OFFICEMAX INC DEL COM 67622P101 1,535 150,000 SH   SOLE   150,000 0 0
OFFICEMAX INC DEL COM 67622P101 587 57,400 SH Call SOLE   57,400 0 0
ONYX PHARMACEUTICALS INC NOTE 4.000% 8/1 683399AB5 22,769 10,000,000 PRN   SOLE   10,000,000 0 0
PPL CORP COM 69351T601 16,291 310,000 SH   SOLE   310,000 0 0
PRICELINE COM INC COM NEW 741503403 6,365 7,700 SH   SOLE   7,700 0 0
PRICELINE COM INC NOTE 1.250% 3/1 741503AN6 37,410 13,700,000 PRN   SOLE   13,700,000 0 0
PROLOGIS INC COM 74340W103 8,061 213,700 SH   SOLE   213,700 0 0
PULSE ELECTRONICS CORP NOTE 7.000%12/1 74586WAA4 3,300 5,000,000 PRN   SOLE   5,000,000 0 0
QUAD / GRAPHICS INC COM CL A 747301109 53,096 2,203,161 SH   SOLE   2,203,161 0 0
RLJ ENTMT INC COM 74965F104 1,939 403,905 SH   SOLE   403,905 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,611 100,000 SH Put SOLE   1,000 0 0
SANOFI RIGHT 12/31/2020 80105N113 6,569 3,457,600 SH   SOLE   3,457,600 0 0
SMITHFIELD FOODS INC COM 832248108 21,943 670,000 SH   SOLE   670,000 0 0
SMITHFIELD FOODS INC COM 832248108 9,838 300,400 SH Call SOLE   300,400 0 0
SOLARFUN POWER HOLDINGS CO L NOTE 3.500% 1/1 83415UAB4 4,244 5,000,000 PRN   SOLE   5,000,000 0 0
SPRINT NEXTEL CORP COM SER 1 852061100 62,689 8,930,000 SH   SOLE   8,930,000 0 0
T-MOBILE US INC COM 872590104 17,367 700,000 SH   SOLE   700,000 0 0
TRW AUTOMOTIVE INC NOTE 3.500%12/0 87264MAH2 26,170 11,500,000 PRN   SOLE   11,500,000 0 0
THERAVANCE INC NOTE 2.125% 1/1 88338TAB0 36,219 23,500,000 PRN   SOLE   23,500,000 0 0
THOMPSON CREEK METALS CO INC UNIT 99/99/9999 884768300 7,367 450,000 SH   SOLE   450,000 0 0
TRINITY INDS INC COM 896522109 7,523 195,700 SH   SOLE   195,700 0 0
UAL CORP NOTE 6.000%10/1 902549AJ3 75,901 20,770,000 PRN   SOLE   20,770,000 0 0
UNITED STATES STL CORP NEW NOTE 4.000% 5/1 912909AE8 8,947 8,750,000 PRN   SOLE   8,750,000 0 0
VERISIGN INC SDCV 3.250% 8/1 92343EAD4 30,248 21,500,000 PRN   SOLE   21,500,000 0 0
WESCO INTL INC DBCV 6.000%9/1 95082PAH8 33,776 13,737,000 PRN   SOLE   13,737,000 0 0
XILINX INC COM 983919101 8,425 212,700 SH   SOLE   212,700 0 0
ZAIS FINL CORP COM 98886K108 723 39,808 SH   SOLE   39,808 0 0
ARCELORMITTAL SA LUXEMBOURG MAND CV NT 16 L0302D178 19,313 1,030,000 PRN   SOLE   1,030,000 0 0
VANTAGE DRILLING COMPANY NOTE 7.875% 9/0 G93205AA3 4,279 3,495,000 PRN   SOLE   3,495,000 0 0