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
ACTAVIS PLC SHS G0083B108 66,915 300,000 SH   DFND 1 300,000 0 0
AETNA INC NEW COM 00817Y108 647,789 7,989,506 SH   DFND 1 7,989,506 0 0
AGNICO EAGLE MINES LTD COM 008474108 50,579 1,320,600 SH   DFND 1 1,320,600 0 0
ALLERGAN INC COM 018490102 947,970 5,602,000 SH   DFND 1 5,602,000 0 0
ALLIED NEVADA GOLD CORP COM 019344100 5,648 1,502,184 SH   DFND 1 1,502,184 0 0
ALLY FINL INC COM 02005N100 47,969 2,006,213 SH   DFND 1 2,006,213 0 0
AUXILIUM PHARMACEUTICALS INC COM 05334D107 80,240 4,000,000 SH   DFND 1 4,000,000 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 457,530 26,585,100 SH   DFND 1 26,585,100 0 0
BANK OF AMERICA CORPORATION * W Exp 01/16/2019 060505146 186,618 27,046,152 SH   DFND 1 27,046,152 0 0
BANK OF AMERICA CORPORATION * W Exp 10/28/2018 060505153 8,303 11,070,853 SH   DFND 1 11,070,853 0 0
BRIXMOR PPTY GROUP INC COM ADDED 11120U105 51,174 2,229,800 SH   DFND 1 2,229,800 0 0
CAESARS ACQUISITION CO CL A ADDED 12768T103 152,278 12,310,240 SH   DFND 1 12,310,240 0 0
CAESARS ENTMT CORP COM 127686103 247,582 13,693,700 SH   DFND 1 13,693,700 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 339,215 19,219,000 SH   DFND 1 19,219,000 0 0
CBS CORP NEW CL B 124857202 176,695 2,843,500 SH   DFND 1 2,843,500 0 0
COBALT INTL ENERGY INC COM 19075F106 751,728 40,966,100 SH   DFND 1 40,966,100 0 0
COBALT INTL ENERGY INC NOTE 2.625%12/001/2019 19075FAA4 46,125 50,000,000 SH   DFND 1 50,000,000 0 0
COBALT INTL ENERGY INC NOTE 3.125% 5/15/2024 ADDED 19075FAB2 239,864 223,000,000 SH   DFND 1 223,000,000 0 0
COLONY FINL INC NOTE 5.000% 4/15/2023 ADDED 19624RAA4 26,891 25,000,000 SH   DFND 1 25,000,000 0 0
COMPUWARE CORP COM 205638109 142,358 14,250,000 SH   DFND 1 14,250,000 0 0
CNO FINL GROUP INC COM 12621E103 98,960 5,559,577 SH   DFND 1 5,559,577 0 0
COVIDIEN PLC SHS G2554F113 631,260 7,000,000 SH   DFND 1 7,000,000 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 109,984 1,600,000 SH   DFND 1 1,600,000 0 0
DEX MEDIA INC NEW COM 25213A107 24,855 2,231,132 SH   DFND 1 2,231,132 0 0
DIRECTV COM 25490A309 850,100 10,000,000 SH   DFND 1 10,000,000 0 0
DOLLAR GEN CORP NEW COM 256677105 234,602 4,090,000 SH   DFND 1 4,090,000 0 0
ENZYMOTEC LTD SHS M4059L101 57,961 4,271,230 SH   DFND 1 4,271,230 0 0
EQUINIX INC COM NEW 29444U502 438,458 2,087,000 SH   DFND 1 2,087,000 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 1,290,280 55,711,591 SH   DFND 1 55,711,591 0 0
FAMILY DLR STORES INC COM 307000109 530,443 8,020,000 SH   DFND 1 8,020,000 0 0
FELCOR LODGING TR INC COM 31430F101 52,550 5,000,000 SH   DFND 1 5,000,000 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 193,450 5,300,000 SH   DFND 1 5,300,000 0 0
GENWORTH FINL INC COM CL A 37247D106 156,600 9,000,000 SH   DFND 1 9,000,000 0 0
GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 24,291 6,529,748 SH   DFND 1 6,529,748 0 0
GRIFOLS S A SPONSORED ADR 398438408 863,608 19,605,181 SH   DFND 1 19,605,181 0 0
GULF COAST ULTRA DEEP RTY TR ROYALTY TR UNT 40222T104 40,205 13,721,856 SH   DFND 1 13,721,856 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 160,023 4,468,670 SH   DFND 1 4,468,670 0 0
HCA HOLDINGS INC COM 40412C101 191,840 3,402,619 SH   DFND 1 3,402,619 0 0
HILLSHIRE BRANDS CO COM 432589109 213,378 3,425,000 SH   DFND 1 3,425,000 0 0
HOWARD HUGHES CORP COM 44267D107 49,716 315,000 SH   DFND 1 315,000 0 0
HOUGHTON MIFFLIN HARCOURT CO COM ADDED 44157R109 592,285 30,912,558 SH   DFND 1 30,912,558 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 6,414 8,908,000 SH   DFND 1 8,908,000 0 0
IAMGOLD CORP COM 450913108 15,919 3,863,912 SH   DFND 1 3,863,912 0 0
KAMADA LTD SHS ADDED M6240T109 5,347 750,000 SH   DFND 1 750,000 0 0
KODIAK OIL & GAS CORP COM 50015Q100 378,104 25,986,500 SH   DFND 1 25,986,500 0 0
MALLINCKRODT PUB LTD CO SHS ADDED G5785G107 538,118 6,724,800 SH   DFND 1 6,724,800 0 0
MEASUREMENT SPECIALTIES INC COM 583421102 18,406 213,853 SH   DFND 1 213,853 0 0
MGIC INVT CORP WIS COM 552848103 153,033 16,562,000 SH   DFND 1 16,562,000 0 0
MGIC INVT CORP WIS NOTE 2.000% 4/01/2020 552848AE3 223,313 150,000,000 SH   DFND 1 150,000,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 593,644 22,486,500 SH   DFND 1 22,486,500 0 0
MYLAN INC COM 628530107 625,459 12,130,700 SH   DFND 1 12,130,700 0 0
NOVAGOLD RES INC COM NEW 66987E206 151,082 35,809,914 SH   DFND 1 35,809,914 0 0
NOVACOPPER INC COM 66988K102 6,445 5,912,709 SH   DFND 1 5,912,709 0 0
OASIS PETE INC NEW COM 674215108 552,892 9,892,500 SH   DFND 1 9,892,500 0 0
PENN VA CORP COM 707882106 9,323 550,000 SH   DFND 1 550,000 0 0
POPULAR INC COM 733174700 302,337 8,845,448 SH   DFND 1 8,845,448 0 0
POST HLDGS INC COM 737446104 94,184 1,850,000 SH   DFND 1 1,850,000 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 208,002 2,248,913 SH   DFND 1 2,248,913 0 0
RADIAN GROUP INC COM 750236101 168,634 11,386,500 SH   DFND 1 11,386,500 0 0
RANDGOLD RES LTD ADR 752344309 57,058 674,446 SH   DFND 1 674,446 0 0
RADIAN GROUP INC NOTE 2.250% 3/01/2019 750236AN1 126,644 84,500,000 SH   DFND 1 84,500,000 0 0
REDWOOD TR INC NOTE 4.625% 4/15/2018 758075AB1 25,703 25,000,000 SH   DFND 1 25,000,000 0 0
REALOGY HLDGS CORP COM 75605Y106 452,520 12,000,000 SH   DFND 1 12,000,000 0 0
ROCK-TENN CO CL A 772739207 84,472 800,000 SH   DFND 1 800,000 0 0
SHIRE PLC SPONSORED ADR 82481R106 792,786 3,366,539 SH   DFND 1 3,366,539 0 0
SIBANYE GOLD LTD SPONSORED ADR 825724206 18,006 1,632,435 SH   DFND 1 1,632,435 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,310,470 10,234,852 SH   DFND 1 10,234,852 0 0
SPRINT CORP COM COM SER 1 ADDED 85207U105 546,886 64,113,200 SH   DFND 1 64,113,200 0 0
STARWOOD PPTY TR INC NOTE 4.550% 3/0 ADDED NOTE 4.550% 3/01/2018 85571BAA3 28,141 25,000,000 SH   DFND 1 25,000,000 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 19,204 1,640,000 SH   DFND 1 1,640,000 0 0
SUNSTONE HOTEL INVS INC COM NEW 867892101 3,680 246,458 SH   DFND 1 246,458 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 380,550 3,225,000 SH   DFND 1 3,225,000 0 0
TIME WARNER CABLE INC COM 88732J207 758,350 5,148,340 SH   DFND 1 5,148,340 0 0
TIM PARTICIPACOES S A SPONSORED ADR 88706P205 153,723 5,295,300 SH   DFND 1 5,295,300 0 0
T-MOBILE US INC COM ADDED 872590104 442,365 13,157,800 SH   DFND 1 13,157,800 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 63,098 500,300 SH   DFND 1 500,300 0 0
VANDA PHARMACEUTICALS INC COM 921659108 51,776 3,200,000 SH   DFND 1 3,200,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 427,782 8,742,725 SH   DFND 1 8,742,725 0 0
VODAFONE GROUP PLC NEW SPONS ADR NO PAR 92857W308 891,760 26,707,408 SH   DFND 1 26,707,408 0 0
WHITING PETE CORP NEW COM 966387102 758,138 9,447,200 SH   DFND 1 9,447,200 0 0
WHITEWAVE FOODS CO COM CL A 966244105 51,873 1,602,500 SH   DFND 1 1,602,500 0 0
LYON WILLIAM HOMES CL A NEW 552074700 101,142 3,322,666 SH   DFND 1 3,322,666 0 0