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
DEUTSCHE BANK AG NAMEN AKT D18190898 6,697 192,100 SH   DFND 1 192,100 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 6,792 194,850 SH   DFND 2 194,850 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 2,198 63,050 SH   DFND   63,050 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 371 7,377 SH   DFND 1 7,377 0 0
EATON CORP PLC SHS G29183103 729 11,500 SH   DFND 1 11,500 0 0
ENSCO PLC SHS CLASS A G3157S106 434 10,500 SH   DFND 1 10,500 0 0
ACE LTD SHS H0023R105 6,607 63,000 SH   SOLE   63,000 0 0
AT&T INC COM 00206R102 722 20,500 SH   DFND 1 20,500 0 0
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 1,207 28,180 SH   DFND 1 28,180 0 0
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 4,380 102,238 SH   DFND 2 102,238 0 0
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 2,136 49,854 SH   DFND   49,854 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 4,062 191,167 SH   DFND 1 191,167 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 7,027 330,666 SH   DFND 2 330,666 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 6,370 299,767 SH   DFND   299,767 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 7,727 410,585 SH   DFND 1 410,585 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 10,199 541,920 SH   DFND 2 541,920 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 5,755 305,795 SH   DFND   305,795 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 5,320 315,000 SH   DFND 1 315,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 10,134 600,000 SH   DFND 2 600,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 1,436 85,000 SH   DFND   85,000 0 0
AMERICAN RESIDENTIAL PPTYS I COM 02927E303 9,170 500,000 SH   DFND 2 500,000 0 0
ANNALY CAP MGMT INC COM 035710409 1,583 148,260 SH   DFND 2 148,260 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 3,249 678,200 SH   DFND 1 678,200 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 3,441 718,450 SH   DFND 2 718,450 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 3,644 760,802 SH   DFND   760,802 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 6,657 431,437 SH   DFND 1 431,437 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 4,215 273,157 SH   DFND 2 273,157 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 2,993 194,000 SH   DFND   194,000 0 0
APPLE INC COM 037833100 16,221 161,000 SH   DFND 1 161,000 0 0
APPLE INC COM 037833100 14,599 144,900 SH   DFND 2 144,900 0 0
APPLE INC COM 037833100 1,622 16,100 SH   DFND   16,100 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 5,476 400,000 SH   DFND 1 400,000 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 5,476 400,000 SH   DFND 2 400,000 0 0
ARCH COAL INC COM 039380100 1,579 745,000 SH   DFND 1 745,000 0 0
ARCH COAL INC COM 039380100 233 110,000 SH   DFND   110,000 0 0
BP PLC SPONSORED ADR 055622104 3,626 82,500 SH   DFND 2 82,500 0 0
BP PLC SPONSORED ADR 055622104 1,978 45,000 SH   DFND   45,000 0 0
BANK AMER CORP COM 060505104 11,306 663,120 SH   DFND 1 663,120 0 0
BANK AMER CORP COM 060505104 1,338 78,480 SH   DFND   78,480 0 0
BARCLAYS PLC ADR 06738E204 3,043 205,500 SH   DFND 1 205,500 0 0
BARCLAYS PLC ADR 06738E204 4,947 334,000 SH   DFND 2 334,000 0 0
BARCLAYS PLC ADR 06738E204 3,858 260,500 SH   DFND   260,500 0 0
BASIC ENERGY SVCS INC NEW COM 06985P100 288 13,273 SH   DFND 1 13,273 0 0
BBCN BANCORP INC COM 073295107 221 15,149 SH   DFND 1 15,149 0 0
BERKLEY W R CORP COM 084423102 5,593 117,000 SH   SOLE   117,000 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 378 12,000 SH   DFND 1 12,000 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 1,511 48,000 SH   DFND 2 48,000 0 0
CAI INTERNATIONAL INC COM 12477X106 260 13,456 SH   DFND 1 13,456 0 0
CYS INVTS INC COM 12673A108 9,118 1,106,500 SH   DFND 1 1,106,500 0 0
CYS INVTS INC COM 12673A108 9,624 1,168,000 SH   DFND 2 1,168,000 0 0
CYS INVTS INC COM 12673A108 9,521 1,155,500 SH   DFND   1,155,500 0 0
CAPITAL BK FINL CORP CL A COM 139794101 351 14,715 SH   DFND 2 14,715 0 0
CAPITOL FED FINL INC COM 14057J101 426 36,000 SH   DFND 1 36,000 0 0
CARLYLE GROUP L P COM UTS LTD PTN 14309L102 503 16,500 SH   DFND 1 16,500 0 0
CARLYLE GROUP L P COM UTS LTD PTN 14309L102 2,217 72,800 SH   DFND 2 72,800 0 0
CARRIAGE SVCS INC COM 143905107 281 16,217 SH   DFND 1 16,217 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 275 46,654 SH   DFND 1 46,654 0 0
CELGENE CORP COM 151020104 2,843 30,000 SH   DFND 2 30,000 0 0
CELGENE CORP COM 151020104 2,843 30,000 SH   DFND   30,000 0 0
CENTURY CMNTYS INC COM 156504300 5,552 320,000 SH   DFND 1 320,000 0 0
CENTURY CMNTYS INC COM 156504300 5,552 320,000 SH   DFND 2 320,000 0 0
CHEVRON CORP NEW COM 166764100 4,630 38,800 SH   DFND 1 38,800 0 0
CHUBB CORP COM 171232101 6,467 71,000 SH   SOLE   71,000 0 0
CISCO SYS INC COM 17275R102 2,769 110,000 SH   DFND 1 110,000 0 0
CISCO SYS INC COM 17275R102 6,293 250,000 SH   DFND 2 250,000 0 0
CITIGROUP INC COM NEW 172967424 15,080 291,000 SH   DFND 1 291,000 0 0
CITIGROUP INC COM NEW 172967424 8,498 164,000 SH   DFND 2 164,000 0 0
COACH INC COM 189754104 6,467 181,600 SH   DFND 1 181,600 0 0
COACH INC COM 189754104 7,243 203,400 SH   DFND   203,400 0 0
COLONY FINL INC COM 19624R106 627 28,000 SH   DFND 1 28,000 0 0
COLONY FINL INC COM 19624R106 940 42,000 SH   DFND   42,000 0 0
COMCAST CORP NEW CL A 20030N101 5,566 103,500 SH   DFND 1 103,500 0 0
CONOCOPHILLIPS COM 20825C104 536 7,000 SH   DFND 1 7,000 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 287 11,159 SH   DFND 1 11,159 0 0
CUSTOMERS BANCORP INC COM 23204G100 3,584 199,571 SH   DFND 1 199,571 0 0
CUSTOMERS BANCORP INC COM 23204G100 7,211 401,500 SH   DFND 2 401,500 0 0
CYRUSONE INC COM 23283R100 256 10,643 SH   DFND 1 10,643 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,547 42,804 SH   DFND 1 42,804 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,139 31,512 SH   DFND 2 31,512 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 243 6,732 SH   DFND   6,732 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 395 5,500 SH   DFND 1 5,500 0 0
E M C CORP MASS COM 268648102 5,706 195,000 SH   DFND 1 195,000 0 0
E M C CORP MASS COM 268648102 5,852 200,000 SH   DFND 2 200,000 0 0
E M C CORP MASS COM 268648102 1,609 55,000 SH   DFND   55,000 0 0
EBAY INC COM 278642103 4,814 85,000 SH   DFND 1 85,000 0 0
EBAY INC COM 278642103 4,157 73,400 SH   DFND 2 73,400 0 0
EBAY INC COM 278642103 657 11,600 SH   DFND   11,600 0 0
ELLINGTON FINANCIAL LLC COM 288522303 6,948 312,700 SH   DFND 1 312,700 0 0
ELLINGTON FINANCIAL LLC COM 288522303 15,580 701,153 SH   DFND 2 701,153 0 0
ELLINGTON FINANCIAL LLC COM 288522303 889 40,000 SH   DFND   40,000 0 0
EMPLOYERS HOLDINGS INC COM 292218104 233 12,121 SH   DFND 1 12,121 0 0
ENERSYS COM 29275Y102 259 4,416 SH   DFND 1 4,416 0 0
FIRST FINL BANCORP OH COM 320209109 3,670 231,867 SH   DFND 1 231,867 0 0
FIRST MERCHANTS CORP COM 320817109 264 13,042 SH   DFND 1 13,042 0 0
FIRSTMERIT CORP COM 337915102 204 11,587 SH   DFND 1 11,587 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 3,014 179,104 SH   DFND 1 179,104 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 3,014 179,104 SH   DFND 2 179,104 0 0
FLUSHING FINL CORP COM 343873105 253 13,844 SH   DFND 1 13,844 0 0
FREEPORT-MCMORAN INC CL B 35671D857 6,857 210,000 SH   DFND 1 210,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 2,939 90,000 SH   DFND   90,000 0 0
FULL HOUSE RESORTS INC COM 359678109 41 35,331 SH   DFND 1 35,331 0 0
FULL HOUSE RESORTS INC COM 359678109 36 31,617 SH   DFND 2 31,617 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 2,159 143,200 SH   DFND 1 143,200 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 8,848 586,761 SH   DFND   586,761 0 0
GENERAL ELECTRIC CO COM 369604103 12,810 500,000 SH   DFND 1 500,000 0 0
GENERAL MLS INC COM 370334104 757 15,000 SH   DFND 1 15,000 0 0
GENERAL MTRS CO COM 37045V100 7,298 228,500 SH   DFND 1 228,500 0 0
GENERAL MTRS CO COM 37045V100 8,672 271,500 SH   DFND   271,500 0 0
GILEAD SCIENCES INC COM 375558103 7,185 67,500 SH   DFND 1 67,500 0 0
GILEAD SCIENCES INC COM 375558103 8,250 77,500 SH   DFND 2 77,500 0 0
GILEAD SCIENCES INC COM 375558103 1,065 10,000 SH   DFND   10,000 0 0
GLOBAL X FDS GLB X MLP ENRG I 37950E226 302 15,162 SH   DFND 1 15,162 0 0
HEWLETT PACKARD CO COM 428236103 14,587 411,250 SH   DFND 1 411,250 0 0
HEWLETT PACKARD CO COM 428236103 3,574 100,750 SH   DFND 2 100,750 0 0
HEWLETT PACKARD CO COM 428236103 2,057 58,000 SH   DFND   58,000 0 0
HILLENBRAND INC COM 431571108 200 6,484 SH   DFND 1 6,484 0 0
HOMESTREET INC COM 43785V102 2,134 124,888 SH   DFND 1 124,888 0 0
HOMESTREET INC COM 43785V102 6,023 352,425 SH   DFND 2 352,425 0 0
HOMESTREET INC COM 43785V102 4,382 256,414 SH   DFND   256,414 0 0
IBERIABANK CORP COM 450828108 275 4,405 SH   DFND 1 4,405 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 268 20,000 SH   DFND 1 20,000 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 268 20,000 SH   DFND 2 20,000 0 0
INSTEEL INDUSTRIES INC COM 45774W108 506 24,609 SH   DFND 1 24,609 0 0
INSTEEL INDUSTRIES INC COM 45774W108 457 22,216 SH   DFND 2 22,216 0 0
INTEL CORP COM 458140100 9,715 279,000 SH   DFND 1 279,000 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 1,270 80,800 SH   DFND 1 80,800 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 1,603 102,000 SH   DFND 2 102,000 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 329 20,900 SH   DFND   20,900 0 0
JPMORGAN CHASE & CO COM 46625H100 15,662 260,000 SH   DFND 1 260,000 0 0
JPMORGAN CHASE & CO COM 46625H100 3,012 50,000 SH   DFND   50,000 0 0
JOHNSON & JOHNSON COM 478160104 10,041 94,200 SH   DFND 1 94,200 0 0
JOURNAL COMMUNICATIONS INC CL A 481130102 133 15,827 SH   DFND 1 15,827 0 0
KKR & CO L P DEL COM UNITS 48248M102 558 25,000 SH   DFND 1 25,000 0 0
KKR & CO L P DEL COM UNITS 48248M102 1,115 50,000 SH   DFND 2 50,000 0 0
KKR & CO L P DEL COM UNITS 48248M102 558 25,000 SH   DFND   25,000 0 0
KELLOGG CO COM 487836108 13,481 218,850 SH   DFND 1 218,850 0 0
KOHLS CORP COM 500255104 18,309 300,000 SH   DFND 1 300,000 0 0
KOHLS CORP COM 500255104 1,221 20,000 SH   DFND   20,000 0 0
LCNB CORP COM 50181P100 1,724 114,785 SH   DFND 1 114,785 0 0
LCNB CORP COM 50181P100 30 2,000 SH   DFND   2,000 0 0
LEUCADIA NATL CORP COM 527288104 188 7,896 SH   DFND 1 7,896 0 0
LEUCADIA NATL CORP COM 527288104 198 8,315 SH   DFND 2 8,315 0 0
LEUCADIA NATL CORP COM 527288104 6 263 SH   DFND   263 0 0
LINN ENERGY LLC UNIT LTD LIAB 536020100 2,762 91,631 SH   DFND   91,631 0 0
MFA FINL INC COM 55272X102 195 25,000 SH   DFND 1 25,000 0 0
MFA FINL INC COM 55272X102 195 25,000 SH   DFND   25,000 0 0
MYR GROUP INC DEL COM 55405W104 9,262 384,615 SH   DFND 1 384,615 0 0
MAGELLAN HEALTH INC COM NEW 559079207 214 3,907 SH   DFND 1 3,907 0 0
MANAGED HIGH YIELD PLUS FD I COM 561911108 20 10,000 SH   DFND 1 10,000 0 0
MARATHON OIL CORP COM 565849106 7,443 198,000 SH   DFND 2 198,000 0 0
MATERION CORP COM 576690101 240 7,830 SH   DFND 1 7,830 0 0
MEADOWBROOK INS GROUP INC COM 58319P108 192 32,873 SH   DFND 1 32,873 0 0
MEDLEY MGMT INC CL A COM 58503T106 4,850 287,500 SH   DFND 1 287,500 0 0
MEDLEY MGMT INC CL A COM 58503T106 4,428 262,500 SH   DFND   262,500 0 0
MEDTRONIC INC COM 585055106 6,195 100,000 SH   DFND 1 100,000 0 0
METLIFE INC COM 59156R108 8,595 160,000 SH   DFND 1 160,000 0 0
METLIFE INC COM 59156R108 9,143 170,200 SH   DFND 2 170,200 0 0
MICROSOFT CORP COM 594918104 20,700 446,500 SH   DFND 1 446,500 0 0
MICROSEMI CORP COM 595137100 298 11,739 SH   DFND 1 11,739 0 0
MONDELEZ INTL INC CL A 609207105 7,650 223,250 SH   DFND 1 223,250 0 0
NMI HLDGS INC CL A 629209305 3,996 462,000 SH   DFND 1 462,000 0 0
NMI HLDGS INC CL A 629209305 8,010 926,000 SH   DFND 2 926,000 0 0
NRG ENERGY INC COM NEW 629377508 104 3,424 SH   DFND 1 3,424 0 0
NRG ENERGY INC COM NEW 629377508 122 3,999 SH   DFND 2 3,999 0 0
NATIONAL BK HLDGS CORP CL A 633707104 832 43,500 SH   DFND 1 43,500 0 0
NATIONAL BK HLDGS CORP CL A 633707104 1,250 65,400 SH   DFND 2 65,400 0 0
NATIONAL GEN HLDGS CORP COM 636220303 6,297 372,800 SH   DFND 1 372,800 0 0
NATIONAL GEN HLDGS CORP COM 636220303 9,087 538,000 SH   DFND 2 538,000 0 0
NATIONAL GEN HLDGS CORP COM 636220303 5,352 316,867 SH   DFND   316,867 0 0
NATIONAL INTERSTATE CORP COM 63654U100 284,580 10,200,000 SH   DFND 1 10,200,000 0 0
NEW YORK CMNTY BANCORP INC COM 649445103 5,555 350,000 SH   DFND 1 350,000 0 0
NICE SYS LTD SPONSORED ADR 653656108 302 7,401 SH   DFND 1 7,401 0 0
OCWEN FINL CORP COM NEW 675746309 1,178 45,000 SH   DFND 1 45,000 0 0
OCWEN FINL CORP COM NEW 675746309 1,178 45,000 SH   DFND 2 45,000 0 0
OMNICELL INC COM 68213N109 255 9,329 SH   DFND 1 9,329 0 0
OMEROS CORP COM 682143102 1,298 102,040 SH   DFND 1 102,040 0 0
OMEROS CORP COM 682143102 1,947 153,061 SH   DFND 2 153,061 0 0
ORBITAL SCIENCES CORP COM 685564106 266 9,584 SH   DFND 1 9,584 0 0
ORGANOVO HLDGS INC COM 68620A104 583 91,500 SH   DFND 1 91,500 0 0
ORGANOVO HLDGS INC COM 68620A104 1,019 160,000 SH   DFND 2 160,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 4,258 49,750 SH   DFND 1 49,750 0 0
PNC FINL SVCS GROUP INC COM 693475105 5,156 60,250 SH   DFND   60,250 0 0
PEABODY ENERGY CORP COM 704549104 4,457 360,000 SH   DFND 1 360,000 0 0
PEABODY ENERGY CORP COM 704549104 3,343 270,000 SH   DFND   270,000 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 9,116 630,000 SH   DFND 1 630,000 0 0
PEPSICO INC COM 713448108 20,019 215,050 SH   DFND 1 215,050 0 0
PERFICIENT INC COM 71375U101 227 15,169 SH   DFND 1 15,169 0 0
PETROQUEST ENERGY INC COM 716748108 294 52,308 SH   DFND 1 52,308 0 0
PFIZER INC COM 717081103 12,360 418,000 SH   DFND 1 418,000 0 0
PFIZER INC COM 717081103 591 20,000 SH   DFND   20,000 0 0
PHILIP MORRIS INTL INC COM 718172109 542 6,500 SH   DFND 1 6,500 0 0
POTBELLY CORP COM 73754Y100 350 30,000 SH   DFND 1 30,000 0 0
POTBELLY CORP COM 73754Y100 1,166 100,000 SH   DFND 2 100,000 0 0
POTBELLY CORP COM 73754Y100 816 70,000 SH   DFND   70,000 0 0
PREMIERE GLOBAL SVCS INC COM 740585104 250 20,924 SH   DFND 1 20,924 0 0
PROCTER & GAMBLE CO COM 742718109 6,648 79,391 SH   DFND 1 79,391 0 0
PROVIDENT FINL SVCS INC COM 74386T105 236 14,439 SH   DFND 1 14,439 0 0
PRUDENTIAL FINL INC COM 744320102 7,695 87,500 SH   DFND 1 87,500 0 0
PRUDENTIAL FINL INC COM 744320102 8,031 91,323 SH   DFND   91,323 0 0
RF MICRODEVICES INC COM 749941100 220 19,034 SH   DFND 1 19,034 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 282 17,345 SH   DFND 1 17,345 0 0
REVOLUTION LIGHTING TECHNOLO COM 76155G107 2,885 1,717,202 SH   DFND 1 1,717,202 0 0
REVOLUTION LIGHTING TECHNOLO COM 76155G107 2,885 1,717,202 SH   DFND 2 1,717,202 0 0
REXFORD INDL RLTY INC COM 76169C100 623 45,000 SH   DFND 1 45,000 0 0
REXFORD INDL RLTY INC COM 76169C100 1,453 105,000 SH   DFND 2 105,000 0 0
RUDOLPH TECHNOLOGIES INC COM 781270103 236 26,035 SH   DFND 1 26,035 0 0
SIZMEK INC COM 83013P105 219 28,305 SH   DFND 1 28,305 0 0
STAPLES INC COM 855030102 3,025 250,000 SH   DFND 1 250,000 0 0
STARWOOD PPTY TR INC COM 85571B105 329 15,000 SH   DFND 1 15,000 0 0
STARWOOD PPTY TR INC COM 85571B105 329 15,000 SH   DFND   15,000 0 0
STONEGATE MTG CORP COM 86181Q300 11,763 905,555 SH   DFND 1 905,555 0 0
STONEGATE MTG CORP COM 86181Q300 10,587 815,000 SH   DFND 2 815,000 0 0
STONEGATE MTG CORP COM 86181Q300 1,176 90,556 SH   DFND   90,556 0 0
STONERIDGE INC COM 86183P102 288 25,523 SH   DFND 1 25,523 0 0
SYKES ENTERPRISES INC COM 871237103 239 11,970 SH   DFND 1 11,970 0 0
SYSCO CORP COM 871829107 721 19,000 SH   DFND 1 19,000 0 0
TARGET CORP COM 87612E106 8,775 140,000 SH   DFND 1 140,000 0 0
TECK RESOURCES LTD CL B 878742204 1,400 74,100 SH   DFND 1 74,100 0 0
TECK RESOURCES LTD CL B 878742204 756 40,000 SH   DFND   40,000 0 0
THOMSON REUTERS CORP COM 884903105 655 18,000 SH   DFND 1 18,000 0 0
TORTOISE ENERGY INFRSTRCTR C COM 89147L100 930 19,336 SH   DFND 1 19,336 0 0
TORTOISE ENERGY INFRSTRCTR C COM 89147L100 3,097 64,380 SH   DFND 2 64,380 0 0
TWO HBRS INVT CORP COM 90187B101 4,448 460,000 SH   DFND 1 460,000 0 0
TWO HBRS INVT CORP COM 90187B101 15,027 1,554,000 SH   DFND 2 1,554,000 0 0
TWO HBRS INVT CORP COM 90187B101 5,908 611,000 SH   DFND   611,000 0 0
UNITED CONTL HLDGS INC COM 910047109 2,652 56,687 SH   DFND 1 56,687 0 0
UNITED CONTL HLDGS INC COM 910047109 2,823 60,336 SH   DFND 2 60,336 0 0
UNITED CONTL HLDGS INC COM 910047109 608 13,001 SH   DFND   13,001 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 298 6,043 SH   DFND 1 6,043 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 503 2,785 SH   DFND 1 2,785 0 0
VANGUARD INDEX FDS REIT ETF 922908553 302 4,197 SH   DFND 1 4,197 0 0
VANGUARD INDEX FDS EXTEND MKT ETF 922908652 397 4,755 SH   DFND 1 4,755 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,716 34,321 SH   DFND 2 34,321 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,242 24,853 SH   DFND   24,853 0 0
VERISK ANALYTICS INC CL A 92345Y106 11,337 186,191 SH   DFND 1 186,191 0 0
VIACOM INC NEW CL B 92553P201 5,386 70,000 SH   DFND   70,000 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 2,341 71,181 SH   DFND 2 71,181 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 1,695 51,545 SH   DFND   51,545 0 0
VOLTARI CORP COM NEW 92870X309 9 5,652 SH   DFND 1 5,652 0 0
VOLTARI CORP COM NEW 92870X309 13 8,478 SH   DFND 2 8,478 0 0
WABASH NATL CORP COM 929566107 300 22,547 SH   DFND 1 22,547 0 0
WAL-MART STORES INC COM 931142103 9,176 120,000 SH   DFND 1 120,000 0 0
WELLS FARGO & CO NEW COM 949746101 14,109 272,000 SH   DFND 1 272,000 0 0
WISCONSIN ENERGY CORP COM 976657106 688 16,000 SH   DFND 1 16,000 0 0
XCERRA CORP COM 98400J108 192 19,617 SH   DFND 1 19,617 0 0