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
ALLY FINL INC COM 02005N100 16,387 960,031 SH   DFND 1 2 3 4 5 960,031 0 0
ALLY FINL INC COM 02005N100 31,500 1,845,314 SH   DFND 1 2 3 4 8 1,845,314 0 0
ALLY FINL INC COM 02005N100 31,120 1,823,055 SH   DFND 1 2 3 4 1,823,055 0 0
AMERICAN CAP LTD COM 02503Y103 24,259 1,532,547 SH   DFND 1 2 3 4 1,532,547 0 0
AMERICAN CAP LTD COM 02503Y103 28,827 1,821,030 SH   DFND 1 2 3 4 8 1,821,030 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 797 3,487 SH   DFND 1 2 3 4 3,487 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 31,442 137,517 SH   DFND 1 2 3 4 5 137,517 0 0
CHENIERE ENERGY INC COM NEW 16411R208 452 12,035 SH   DFND 1 2 3 4 12,035 0 0
CHENIERE ENERGY INC COM NEW 16411R208 24,130 642,630 SH   DFND 1 2 3 4 5 642,630 0 0
CHIPMOS TECH BERMUDA LTD SHS G2110R114 8,472 467,813 SH   DFND 1 2 3 4 6 467,813 0 0
CONSUMER PORTFOLIO SVCS INC COM 210502100 1,533 406,734 SH   DFND 1 2 3 4 5 406,734 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 754 30,975 SH   DFND 1 2 3 4 30,975 0 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 5,864 906,350 SH   DFND 1 2 3 4 6 906,350 0 0
FMC TECHNOLOGIES INC COM 30249U101 8,321 312,000 SH   DFND 1 2 3 4 6 312,000 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 6,880 748,644 SH   DFND 1 2 3 4 748,644 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 959 32,160 SH   DFND 1 2 3 4 32,160 0 0
HOWARD HUGHES CORP COM 44267D107 352 3,081 SH   DFND 1 2 3 4 3,081 0 0
HRG GROUP INC COM 40434J100 453,018 32,994,740 SH   DFND 1 2 3 4 5 7 32,994,740 0 0
INNOCOLL HLDGS PLC SHS G4783X105 22,511 4,085,469 SH   DFND 1 2 3 4 7 4,085,469 0 0
INTRAWEST RESORTS HLDGS INC COM 46090K109 350,956 27,038,250 SH   DFND 1 2 3 4 27,038,250 0 0
INVENTERGY GLOBAL INC COM NEW 46123X409 75 50,000 SH   DFND 1 2 3 4 50,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 15,521 135,000 SH Put DFND 1 2 3 4 6 135,000 0 0
JUMEI INTL HLDG LTD SPONSORED ADR 48138L107 6,871 1,663,741 SH   DFND 1 2 3 4 6 1,663,741 0 0
MARATHON PATENT GROUP INC COM NEW 56585W203 368 134,409 SH   DFND 1 2 3 4 134,409 0 0
MOMO INC ADR 60879B107 4,044 400,000 SH Put DFND 1 2 3 4 6 400,000 0 0
MYLAN N V SHS EURO N59465109 294 6,800 SH Call DFND 1 2 3 4 6 6,800 0 0
NATIONAL INTERSTATE CORP COM 63654U100 8,554 282,792 SH   DFND 1 2 3 4 6 282,792 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 766,859 68,104,736 SH   DFND 1 2 3 4 68,104,736 0 0
NETLIST INC COM 64118P109 749 640,585 SH   DFND 1 2 3 4 5 640,585 0 0
NETLIST INC COM 64118P109 39 33,715 SH   DFND 1 2 3 4 33,715 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 1,353 74,870 SH   DFND 1 2 3 4 74,870 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 7,177 518,545 SH   DFND 1 2 3 4 518,545 0 0
NEW SR INVT GROUP INC COM 648691103 1,846 172,848 SH   DFND 1 2 3 4 172,848 0 0
NEWCASTLE INVT CORP NEW COM PAR $0.01 65105M603 793 172,848 SH   DFND 1 2 3 172,848 0 0
NII HLDGS INC COM PAR $0.001 62913F508 4,413 1,387,822 SH   DFND 1 2 3 1,387,822 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 8,995 972,453 SH   DFND 1 2 3 4 6 972,453 0 0
NORTHSTAR RLTY FIN CORP COM 66704R803 347 30,326 SH   DFND 1 2 3 4 30,326 0 0
NORTHSTAR RLTY FIN CORP COM 66704R803 13,891 1,215,266 SH   DFND 1 2 3 4 5 1,215,266 0 0
NRG ENERGY INC COM NEW 629377508 0 3 SH   DFND 1 2 3 3 0 0
ONEMAIN HLDGS INC COM 68268W103 1,675,844 73,437,500 SH   DFND 1 2 3 4 73,437,500 0 0
OPUS BK IRVINE CALIF COM 684000102 56,424 1,669,336 SH   DFND 1 2 3 4 1,669,336 0 0
OPUS BK IRVINE CALIF COM 684000102 115,641 3,421,339 SH   DFND 1 2 3 4 7 3,421,339 0 0
PARATEK PHARMACEUTICALS INC COM 699374302 6,034 433,804 SH   DFND 1 2 3 4 433,804 0 0
PENN NATL GAMING INC COM 707569109 2,497 179,018 SH   DFND 1 2 3 4 179,018 0 0
QUAD / GRAPHICS INC COM CL A 747301109 7 290 SH   DFND 1 2 3 290 0 0
ROUSE PPTYS INC COM 779287101 45,199 2,476,640 SH   DFND 1 2 3 4 5 2,476,640 0 0
ROUSE PPTYS INC COM 779287101 22 1,206 SH   DFND 1 2 3 4 1,206 0 0
SITO MOBILE LTD COM NEW 82988R203 1,672 461,954 SH   DFND 1 2 3 4 461,954 0 0
STATE NATL COS INC COM 85711T305 36,855 3,500,000 SH   DFND 1 2 3 4 5 8 3,500,000 0 0
TRINA SOLAR LIMITED SPON ADR 89628E104 6,463 835,000 SH Call DFND 1 2 3 4 6 835,000 0 0
U S CONCRETE INC COM NEW 90333L201 354 5,815 SH   DFND 1 2 3 5,815 0 0
VANGUARD INDEX FDS REIT ETF 922908553 12,672 142,900 SH Put DFND 1 2 3 4 5 142,900 0 0
VERINT SYS INC COM 92343X100 4 122 SH   DFND 1 2 3 122 0 0
WILLBROS GROUP INC DEL COM 969203108 115 45,350 SH   DFND 1 2 3 4 45,350 0 0
WMIH CORP COM 92936P100 35 15,916 SH   DFND 1 2 3 15,916 0 0
WMIH CORP COM 92936P100 9 4,076 SH   DFND 1 2 3 4 4,076 0 0
WMIH CORP COM 92936P100 316 142,223 SH   DFND 1 2 3 4 5 142,223 0 0
XURA INC COM 98420V107 2 94 SH   DFND 1 2 3 94 0 0
YY INC ADS REPCOM CLA 98426T106 8,129 240,000 SH Call DFND 1 2 3 4 6 240,000 0 0