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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
BARCLAYS BK PLC IPATH S&P500 VIX 06746L422 22,268 475,000 SH Put DFND   475,000 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 113,332 2,900,000 SH Put DFND 1 2,900,000 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 29,145 745,780 SH   DFND 1 745,780 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 0 5 SH   DFND   5 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 28,675 500,000 SH Put DFND   500,000 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 28,675 500,000 SH Call DFND   500,000 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 28,310 493,643 SH   DFND   493,643 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 207,710 8,720,000 SH Put DFND 1 8,720,000 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 31,759 1,333,300 SH Put DFND   1,333,300 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 31,759 1,333,300 SH Call DFND   1,333,300 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 31,276 1,313,021 SH   DFND 1 1,313,021 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 31,150 1,307,738 SH   DFND   1,307,738 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,613 6,456 SH   DFND   6,456 0 0