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
3-D SYS CORP DEL COM NEW 88554D205 12,904 400,000 SH Put DFND 01 02 400,000 0 0
3-D SYS CORP DEL COM NEW 88554D205 13,148 400,000 SH   DFND 01 02 400,000 0 0
AEROPOSTALE COM 007865108 2,552 1,100,000 SH   DFND 01 02 1,100,000 0 0
ALLERGAN INC COM 018490102 106,295 500,000 SH   DFND 01 02 500,000 0 0
ALLY FINL INC COM 02005N100 78,773 3,335,000 SH   DFND 01 02 3,335,000 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 28,424 530,000 SH   DFND 01 02 530,000 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 7,416 700,000 SH Call DFND 01 02 0 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 23,416 1,375,000 SH   DFND 01 02 1,375,000 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 2,263 250,000 SH   DFND 01 02 250,000 0 0
ASHLAND INC NEW COM 044209104 17,964 150,000 SH   DFND 01 02 150,000 0 0
ASSURED GUARANTY LTD COM G0585R106 36,386 1,400,000 SH   DFND 01 02 1,400,000 0 0
ASSURED GUARANTY LTD COM G0585R106 630 200,000 SH Call DFND 01 02 0 0 0
BAKER HUGHES INC COM 057224107 11,214 200,000 SH   DFND 01 02 200,000 0 0
BARCLAYS BK PLC ADR 2 PREF 2 06739F390 1,422 55,737 PRN   DFND 01 02 0 0 55,737
BERRY PLASTICS GROUP INC COM 08579W103 11,831 375,000 SH   DFND 01 02 375,000 0 0
CAESARS ENTMT CORP COM 127686103 1,177 75,000 SH   DFND 01 02 75,000 0 0
CAPITAL BK FINL CORP CL A COM 139794101 274 10,206 SH   DFND 01 02 10,206 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 30,436 725,000 SH   DFND 01 02 725,000 0 0
CIT GROUP INC COM NEW 125581801 29,655 620,000 SH   DFND 01 02 620,000 0 0
COMCAST CORP NEW CL A 20030N101 29 300,000 SH Put DFND 01 02 0 0 300,000
COVIDIEN PLC SHS G2554F113 987,002 9,650,000 SH   DFND 01 02 9,650,000 0 0
CROWN CASTLE INTL CORP NEW CNV PFD STK SR A 22822V200 3,590 35,000 PRN   DFND 01 02 0 0 35,000
CROWN CASTLE INTL CORP NEW COM 22822V101 46,767 594,250 SH   DFND 01 02 594,250 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 125 600,000 SH Call DFND 01 02 0 0 0
CROWN HOLDINGS INC COM 228368106 10,180 200,000 SH   DFND 01 02 200,000 0 0
CUBIST PHARMACEUTICALS INC COM 229678107 40,260 400,000 SH   DFND 01 02 400,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 22,627 460,000 SH   DFND 01 02 460,000 0 0
DIRECTV COM 25490A309 281,775 3,250,000 SH   DFND 01 02 3,250,000 0 0
DOLLAR GEN CORP NEW COM 256677105 7,070 100,000 SH   DFND 01 02 100,000 0 0
DRESSER-RAND GROUP INC COM 261608103 24,540 300,000 SH   DFND 01 02 300,000 0 0
EBAY INC COM 278642103 42,090 750,000 SH   DFND 01 02 750,000 0 0
FAMILY DLR STORES INC COM 307000109 1,425 100,000 SH Call DFND 01 02 0 0 0
FCB FINL HLDGS INC CL A 30255G103 18,660 757,286 SH   DFND 01 02 757,286 0 0
FOSSIL GROUP INC COM 34988V106 35,991 325,000 SH   DFND 01 02 325,000 0 0
GENERAL ELECTRIC CO COM 369604103 22,743 900,000 SH   DFND 01 02 900,000 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 330 13,139 SH   DFND 01 02 13,139 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 13,363 786,073 SH   DFND 01 02 786,073 0 0
GENERAL MTRS CO COM 37045V100 220,438 6,314,454 SH   DFND 01 02 6,314,454 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 164 80,000 SH Put DFND 01 02 0 0 80,000
HD SUPPLY HLDGS INC COM 40416M105 47,921 1,625,000 SH   DFND 01 02 1,625,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 97 250,000 SH Put DFND 01 02 0 0 250,000
ISHARES TR U.S. REAL ES ETF 464287739 378 1,750,000 SH Put DFND 01 02 0 0 1,750,000
KEYSIGHT TECHNOLOGIES INC COM 49338L103 11,820 350,000 SH   DFND 01 02 350,000 0 0
KLX INC COM 482539103 34,031 825,000 SH   DFND 01 02 825,000 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 2,510 50,000 SH   DFND 01 02 50,000 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 27,778 575,000 SH   DFND 01 02 575,000 0 0
MCDERMOTT INTL INC COM 580037109 5,820 2,000,000 SH   DFND 01 02 2,000,000 0 0
MCDONALDS CORP COM 580135101 42,165 450,000 SH   DFND 01 02 450,000 0 0
MENS WEARHOUSE INC COM 587118100 92,053 2,085,000 SH   DFND 01 02 2,085,000 0 0
MICRON TECHNOLOGY INC COM 595112103 10,503 300,000 SH   DFND 01 02 300,000 0 0
MICROSOFT CORP COM 594918104 32,515 700,000 SH   DFND 01 02 700,000 0 0
NATIONAL BK HLDGS CORP CL A 633707104 17,746 914,271 SH   DFND 01 02 914,271 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 22,451 1,100,000 SH   DFND 01 02 1,100,000 0 0
OI S.A. SPN ADR NEW 670851302 5,872 1,752,769 SH   DFND 01 02 1,752,769 0 0
OI S.A. SPN ADR PFD NEW 670851401 7,790 2,441,983 SH   DFND 01 02 2,441,983 0 0
OWENS CORNING NEW COM 690742101 5,372 150,000 SH   DFND 01 02 150,000 0 0
PIONEER NAT RES CO COM 723787107 4,242 28,500 SH   DFND 01 02 28,500 0 0
QIWI PLC SPON ADR REP B 74735M108 20,441 75,000 SH   DFND 01 02 75,000 0 0
ROYAL BK SCOTLAND GROUP PLC ADR PFD SER P 780097762 22,000 913,223 PRN   DFND 01 02 0 0 913,223
ROYAL BK SCOTLAND GROUP PLC ADR PREF SER N 780097770 953 38,515 PRN   DFND 01 02 0 0 38,515
ROYAL BK SCOTLAND GROUP PLC ADR PREF SHS R 780097747 17,106 718,418 PRN   DFND 01 02 0 0 718,418
SEARS HLDGS CORP COM 812350106 6,431 195,000 SH   DFND 01 02 195,000 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 321 200,000 SH Put DFND 01 02 0 0 200,000
SINA CORP NOTE 1.000%12/0 82922RAD5 50,310 54,500,000 PRN   DFND 01 02 0 0 54,500,000
SPDR S&P 500 ETF TR TR UNIT 78462F103 697 250,200 SH Call DFND 01 02 0 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,238 1,550,000 SH Put DFND 01 02 0 0 1,550,000
STARWOOD PPTY TR INC NOTE 3.750%10/1 85571BAC9 12,709 12,500,000 PRN   DFND 01 02 0 0 12,500,000
STARWOOD WAYPOINT RESIDENTL COM SHS 85571W109 7,252 275,000 SH   DFND 01 02 275,000 0 0
SUNEDISON INC COM 86732Y109 16,584 850,000 SH   DFND 01 02 850,000 0 0
SYNCHRONY FINL COM 87165B103 19,338 650,000 SH   DFND 01 02 650,000 0 0
TALISMAN ENERGY INC COM 87425E103 1,566 200,000 SH   DFND 01 02 200,000 0 0
TALMER BANCORP INC COM 87482X101 23,166 1,650,000 SH   DFND 01 02 1,650,000 0 0
TERRAFORM PWR INC CL A COM 88104R100 3,088 100,000 SH   DFND 01 02 100,000 0 0
TIM PARTICIPACOES S A SPONSORED ADR 88706P205 37,091 1,670,000 SH   DFND 01 02 1,670,000 0 0
TIME WARNER CABLE INC COM 88732J207 7,603 50,000 SH   DFND 01 02 50,000 0 0
TRIBUNE MEDIA CO CL A 896047503 11,954 200,000 SH   DFND 01 02 200,000 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 39,083 380,000 SH   DFND 01 02 380,000 0 0
TYSON FOODS INC UNIT 99/99/9999 902494301 1,510 30,000 PRN   DFND 01 02 0 0 30,000
ULTRA PETROLEUM CORP COM 903914109 1,974 150,000 SH   DFND 01 02 150,000 0 0
UNITED CONTL HLDGS INC COM 910047109 1,003 15,000 SH   DFND 01 02 15,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 60,822 425,000 SH   DFND 01 02 425,000 0 0
VIOLIN MEMORY INC COM 92763A101 2,874 600,000 SH   DFND 01 02 600,000 0 0
YUM BRANDS INC COM 988498101 3,643 50,000 SH   DFND 01 02 50,000 0 0