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
Arcos Dorados Holdings Ord Shs Class A Common G0457F107 584 49,998 SH   DFND   49,998 0 0
Amedisys Ord Shs Option 023436108 4,640 400,000 SH Put DFND   400,000 0 0
American International Group Ord Shs Common 026874784 1,321 29,545 SH   DFND   29,545 0 0
America's Car-Mart Ord Shs Common 03062T105 4,520 104,540 SH   DFND   104,540 0 0
Ascent Media Ord Shs Series A Common 043632108 7,182 92,000 SH   DFND   92,000 0 0
Athena Health Ord Shs Option 04685W103 2,542 30,000 SH Put DFND   30,000 0 0
Axiall Ord Shs Common 05463D100 426 10,000 SH   DFND   10,000 0 0
Bravo Brio Restaurant Group Ord Shs Common 10567B109 4,127 231,597 SH   DFND   231,597 0 0
Cablevision Systems Ord Shs Class A Common 12686C109 5,505 327,267 SH   DFND   327,267 0 0
Cablevision Systems Ord Shs Class A Option 12686C109 5,046 300,000 SH Call DFND   300,000 0 0
DeVry Ord Shs Common 251893103 2,178 70,225 SH   DFND   70,225 0 0
Dex Media Ord Shs Common 25213A107 2,757 156,939 SH   DFND   156,939 0 0
Dex Media Ord Shs Option 25213A107 2,636 150,000 SH Call DFND   150,000 0 0
Dreamworks Animation SKG Ord Shs Class A Common 26153C103 8,803 343,081 SH   DFND   343,081 0 0
Dreamworks Animation SKG Ord Shs Class A Option 26153C103 2,566 100,000 SH Put DFND   100,000 0 0
Era Group Ord Shs Common 26885G109 82 3,154 SH   DFND   3,154 0 0
EchoStar Ord Shs Common 278768106 17,937 458,628 SH   DFND   458,628 0 0
Facebook Class A Ord Shs Option 30303M102 18,411 740,000 SH Put DFND   740,000 0 0
GoodRich Petroleum Corp 5% Bond 382410AC2 6,983 7,000,000 SH   DFND   7,000,000 0 0
GoodRich Petroleum Ord Shares Option 382410405 2,240 175,000 SH Call DFND   175,000 0 0
Google Inc Common 38259P508 2,195 2,493 SH   DFND   2,493 0 0
Ingram Micro Common 457153104 2,288 120,510 SH   DFND   120,510 0 0
IntraLinks Holdings Ord Shs Common 46118H104 5,881 810,000 SH   DFND   810,000 0 0
Invacare Ord Shs Common 461203101 1,436 100,000 SH   DFND   100,000 0 0
Ishares Russell 2000 Index ETF Option 464287655 33,950 350,000 SH Put DFND   350,000 0 0
Kopin Ord Shs Common 500600101 552 148,756 SH   DFND   148,756 0 0
Live Nation Entertainment Ord Shs Common 538034109 5,999 387,044 SH   DFND   387,044 0 0
Live Nation Entertainment Ord Shs Option 538034109 1,550 100,000 SH Call DFND   100,000 0 0
Markel Ord Shs Common 570535104 8,018 15,215 SH   DFND   15,215 0 0
Morgan Stanley Ord Shs Option 617446448 2,932 120,000 SH Put DFND   120,000 0 0
National Oilwell Varco Ord Shs Common 637071101 2,067 30,000 SH   DFND   30,000 0 0
Pan American Silver Ord Shs Option 697900108 1,164 100,000 SH Call DFND   100,000 0 0
Pan American Silver Ord Shs Common 697900108 2,328 200,000 SH   DFND   200,000 0 0
Qualcomm Ord Shs Common 747525103 1,955 32,000 SH   DFND   32,000 0 0
SPDR Gold Shares ETF Option 78463V107 78,004 609,600 SH Call DFND   609,600 0 0
SPDR Gold Shares ETF Gold ETF 78463V107 3,395 28,500 SH   DFND   28,500 0 0
SanDisk Ord Shs Common 80004C101 3,295 53,933 SH   DFND   53,933 0 0
SunTrust Banks Ord Shs Common 867914103 1,408 44,585 SH   DFND   44,585 0 0
Tangoe Ord Shs Option 87582Y108 772 50,000 SH Call DFND   50,000 0 0
Walmart Stores Common 931142103 413 5,550 SH   DFND   5,550 0 0