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
ACADIA R COMSH 004239109 14,155,000 573,555 SH   DFND   573,555 0 0
ACCURAY NOTE3 004397AB1 1,052,000 1,000,000 PRN   DFND   1,000,000 0 0
ADOBE SY COM 00724F101 39,734,000 765,000 SH   DFND   765,000 0 0
ADVANCE COM 00751Y106 3,281,000 39,685 SH   DFND   39,685 0 0
AGIOS PH COM 00847X104 559,000 20,000 SH   DFND   20,000 0 0
AIR PROD COM 009158106 2,677,000 25,124 SH   DFND   25,124 0 0
AIRTRAN NOTE5 00949PAD0 3,728,000 2,500,000 PRN   DFND   2,500,000 0 0
ALCOA IN COM 013817101 1,484,000 182,746 SH   DFND   182,746 0 0
ALLIANT COM 018802108 16,352,000 330,000 SH   DFND   330,000 0 0
ALLIANT NOTE3 018804AK0 9,176,000 7,000,000 PRN   DFND   7,000,000 0 0
ALON USA COM 020520102 2,537,000 248,500 SH   DFND   248,500 0 0
AMARIN C COM 023111206 66,000 151,100 SH Call DFND   151,100 0 0
AMARIN C SPONS 023111206 1,264,000 200,000 SH   DFND   200,000 0 0
AMEREN C COM 023608102 15,678,000 450,000 SH   DFND   450,000 0 0
AMERICAN COM 024013104 12,814,000 420,000 SH   DFND   420,000 0 0
AMERICAN COM 024835100 29,315,000 858,424 SH   DFND   858,424 0 0
AMERICAN COM 02503Y103 9,163,000 666,364 SH   DFND   666,364 0 0
AMERICAN COM 025537101 6,249,000 144,151 SH   DFND   144,151 0 0
AMERICAN COM 03027X100 26,042,000 351,304 SH   DFND   351,304 0 0
AMERICAN COM 030420103 9,814,000 237,750 SH   DFND   237,750 0 0
ANNALY C COM 035710409 39,000 343,100 SH Put DFND   343,100 0 0
ANNALY C NOTE5 035710AB8 9,141,000 9,000,000 PRN   DFND   9,000,000 0 0
ANTARES COM 036642106 1,080,000 266,000 SH   DFND   266,000 0 0
ANTHERA COMNE 03674U201 291,000 72,500 SH   DFND   72,500 0 0
APOLLO G CLA 037604105 9,036,000 434,197 SH   DFND   434,197 0 0
APPLE IN COM 037833100 5,949,000 12,478 SH   DFND   12,478 0 0
ARCHER D COM 039483102 26,525,000 720,000 SH   DFND   720,000 0 0
ASHFORD COMSH 044103109 6,047,000 490,000 SH   DFND   490,000 0 0
ASHLAND COM 044209104 41,457,000 448,279 SH   DFND   448,279 0 0
ASSOCIAT COM 045487105 6,327,000 408,470 SH   DFND   408,470 0 0
AUTOMATI COM 053015103 4,886,000 67,500 SH   DFND   67,500 0 0
AUXILIUM NOTE1 05334DAA5 17,126,000 16,500,000 PRN   DFND   16,500,000 0 0
AVALONBA COM 053484101 6,965,000 54,805 SH   DFND   54,805 0 0
AVON PRO COM 054303102 30,000 100,000 SH Call DFND   100,000 0 0
AVON PRO COM 054303102 32,797,000 1,592,102 SH   DFND   1,592,102 0 0
BAKER HU COM 057224107 7,000 20,000 SH Put DFND   20,000 0 0
BANKUNIT COM 06652K103 11,908,000 381,792 SH   DFND   381,792 0 0
BEAZER H UNIT9 07556Q709 26,735,000 913,100 SH   DFND   913,100 0 0
BELO COR COMSE 080555105 4,110,000 300,000 SH   DFND   300,000 0 0
BHP BILL SPONS 088606108 39,752,000 597,774 SH   DFND   597,774 0 0
BIOMED R COM 09063H107 14,314,000 769,998 SH   DFND   769,998 0 0
BIOAMBER COM 09072Q106 80,000 100,000 SH Call DFND   100,000 0 0
BIOAMBER COM 09072Q106 177,000 36,168 SH   DFND   36,168 0 0
BOISE IN COM 09746Y105 4,537,000 360,111 SH   DFND   360,111 0 0
BROADSOF NOTE1 11133BAB8 1,110,000 1,000,000 PRN   DFND   1,000,000 0 0
CBL & AS COM 124830100 2,464,000 129,023 SH   DFND   129,023 0 0
CBS CORP CLB 124857202 3,133,000 56,804 SH   DFND   56,804 0 0
CMS ENER COM 125896100 14,410,000 547,500 SH   DFND   547,500 0 0
CUI GLOB COMNE 126576206 72,000 12,500 SH   DFND   12,500 0 0
CVS CARE COM 126650100 16,019,000 282,281 SH   DFND   282,281 0 0
CACI INT CLA 127190304 5,691,000 82,345 SH   DFND   82,345 0 0
CALPINE COMNE 131347304 6,745,000 347,167 SH   DFND   347,167 0 0
CAMDEN P SHBEN 133131102 19,855,000 323,166 SH   DFND   323,166 0 0
CAMERON COM 13342B105 3,380,000 57,906 SH   DFND   57,906 0 0
CAPITAL COM 140475104 3,145,000 148,713 SH   DFND   148,713 0 0
CAPSTONE COM 14067D102 590,000 500,000 SH   DFND   500,000 0 0
CARNIVAL PAIRE 143658300 2,448,000 75,000 SH   DFND   75,000 0 0
CATERPIL COM 149123101 25,664,000 307,837 SH   DFND   307,837 0 0
CEDAR RE COMNE 150602209 5,634,000 1,087,696 SH   DFND   1,087,696 0 0
CELANESE COMSE 150870103 22,455,000 425,365 SH   DFND   425,365 0 0
CEMEX SA SPONA 151290889 559,000 50,000 SH   DFND   50,000 0 0
CENVEO C NOTE7 15671BAJ0 356,000 350,000 PRN   DFND   350,000 0 0
CHATHAM COM 16208T102 9,577,000 536,242 SH   DFND   536,242 0 0
CHEMTURA COMNE 163893209 3,386,000 147,288 SH   DFND   147,288 0 0
CHESAPEA NOTE2 165167BW6 36,744,000 35,471,000 PRN   DFND   35,471,000 0 0
CHURCH & COM 171340102 98,000 100,000 SH Put DFND   100,000 0 0
CITIGROU COM 172967424 195,000 385,000 SH Call DFND   385,000 0 0
CITIGROU COMNE 172967424 19,938,000 411,004 SH   DFND   411,004 0 0
CLIFFS N COM 18683K101 4,258,000 207,730 SH   DFND   207,730 0 0
COACH IN COM 189754104 778,000 14,263 SH   DFND   14,263 0 0
COBALT I COM 19075F106 708,000 28,486 SH   DFND   28,486 0 0
COBALT I NOTE2 19075FAA4 529,000 500,000 PRN   DFND   500,000 0 0
COCA COL COM 191216100 512,000 1,000,000 SH Call DFND   1,000,000 0 0
COCA COL COM 191216100 37,733,000 996,108 SH   DFND   996,108 0 0
COCA COL COM 19122T109 380,000 200,000 SH Call DFND   200,000 0 0
COCA COL COM 19122T109 13,872,000 345,001 SH   DFND   345,001 0 0
COLGATE COM 194162103 31,000 100,000 SH Call DFND   100,000 0 0
COLGATE COM 194162103 59,448,000 1,002,498 SH   DFND   1,002,498 0 0
COLONIAL COMSH 195872106 15,743,000 699,999 SH   DFND   699,999 0 0
COMMERCI COM 201723103 11,905,000 702,363 SH   DFND   702,363 0 0
CONSOLID COM 209115104 11,993,000 217,500 SH   DFND   217,500 0 0
CONSTELL COM 21036P108 190,000 200,000 SH Call DFND   200,000 0 0
CROWN CA COM 228227104 6,938,000 95,000 SH   DFND   95,000 0 0
CTRIP CO AMERI 22943F100 9,886,000 169,199 SH   DFND   169,199 0 0
CYTEC IN COM 232820100 15,014,000 184,544 SH   DFND   184,544 0 0
CYTORI T COM 23283K105 175,000 75,000 SH   DFND   75,000 0 0
DCT INDU COM 233153105 19,629,000 2,729,998 SH   DFND   2,729,998 0 0
DFC GLOB COM 23324T107 34,000 100,000 SH Put DFND   100,000 0 0
D R HORT COM 23331A109 1,457,000 75,000 SH   DFND   75,000 0 0
D R HORT NOTE2 23331ABB4 10,668,000 7,000,000 PRN   DFND   7,000,000 0 0
DTE ENER COM 233331107 16,665,000 252,569 SH   DFND   252,569 0 0
DEALERTR NOTE1 242309AB8 1,292,000 1,000,000 PRN   DFND   1,000,000 0 0
DEAN FOO COMNE 242370203 41,852,000 2,168,498 SH   DFND   2,168,498 0 0
DEERE & COM 244199105 22,000 25,000 SH Put DFND   25,000 0 0
DELL INC COM 24702R101 6,965,000 505,845 SH   DFND   505,845 0 0
DELTA AI COMNE 247361702 27,195,000 1,152,818 SH   DFND   1,152,818 0 0
DEVELOPE NOTE1 251591AX1 15,872,000 14,000,000 PRN   DFND   14,000,000 0 0
DIAMOND COM 252603105 990,000 42,000 SH   DFND   42,000 0 0
DICKS SP COM 253393102 145,000 100,000 SH Put DFND   100,000 0 0
DICKS SP COM 253393102 28,365,000 531,376 SH   DFND   531,376 0 0
DIGITAL COM 253868103 2,124,000 40,000 SH   DFND   40,000 0 0
DISNEY W COMDI 254687106 2,747,000 42,597 SH   DFND   42,597 0 0
DISCOVER COM 254709108 58,000 43,200 SH Call DFND   43,200 0 0
DISH NET CLA 25470M109 10,310,000 229,054 SH   DFND   229,054 0 0
DOLE FOO COM 256603101 5,107,000 374,944 SH   DFND   374,944 0 0
DOMINION COM 25746U109 11,378,000 182,103 SH   DFND   182,103 0 0
DOUGLAS COM 25960P109 5,968,000 254,300 SH   DFND   254,300 0 0
DU PONT COM 263534109 5,000 130,000 SH Put DFND   130,000 0 0
DUKE ENE COMNE 26441C204 15,026,000 225,000 SH   DFND   225,000 0 0
E TRADE COM 269246401 783,000 470,000 SH Call DFND   470,000 0 0
EAST WES COM 27579R104 7,908,000 247,499 SH   DFND   247,499 0 0
EDUCATIO COM 28140H104 10,997,000 1,208,450 SH   DFND   1,208,450 0 0
ELLINGTO COMSH 288578107 768,000 50,000 SH   DFND   50,000 0 0
EMERALD COMNE 29101U209 5,824,000 810,000 SH   DFND   810,000 0 0
ENERGIZE COM 29266R108 19,000 150,000 SH Call DFND   150,000 0 0
ENERGIZE COM 29266R108 715,000 7,844 SH   DFND   7,844 0 0
EQUINIX COMNE 29444U502 5,271,000 28,700 SH   DFND   28,700 0 0
EQUINIX NOTE3 29444UAG1 8,657,000 5,200,000 PRN   DFND   5,200,000 0 0
EQUINIX NOTE4 29444UAH9 16,889,000 7,500,000 PRN   DFND   7,500,000 0 0
EQUITY L COM 29472R108 30,958,000 906,008 SH   DFND   906,008 0 0
EVERCORE CLASS 29977A105 2,481,000 50,390 SH   DFND   50,390 0 0
EXELIXIS NOTE4 30161QAC8 5,890,000 5,000,000 PRN   DFND   5,000,000 0 0
FACEBOOK CLA 30303M102 16,331,000 325,050 SH   DFND   325,050 0 0
FAMILY D COM 307000109 656,000 350,000 SH Put DFND   350,000 0 0
FEDERAL SHBEN 313747206 19,602,000 193,222 SH   DFND   193,222 0 0
FIFTH ST COM 31678A103 1,029,000 100,000 SH   DFND   100,000 0 0
FIRST HO COM 320517105 1,099,000 100,000 SH   DFND   100,000 0 0
FIRST ME COM 320817109 3,505,000 202,246 SH   DFND   202,246 0 0
FIRST NI COM 33582V108 2,502,000 241,241 SH   DFND   241,241 0 0
FIRST RE COM 33616C100 8,548,000 183,306 SH   DFND   183,306 0 0
FIRSTMER COM 337915102 12,551,000 578,126 SH   DFND   578,126 0 0
FOOT LOC COM 344849104 30,885,000 910,000 SH   DFND   910,000 0 0
FREEPORT COM 35671D857 24,743,000 747,972 SH   DFND   747,972 0 0
GT ADVAN NOTE3 36191UAA4 2,614,000 2,000,000 PRN   DFND   2,000,000 0 0
GALENA B COM 363256108 793,000 349,400 SH   DFND   349,400 0 0
GAMESTOP CLA 36467W109 5,312,000 106,988 SH   DFND   106,988 0 0
GAP INC COM 364760108 140,000 300,000 SH Call DFND   300,000 0 0
GAP INC COM 364760108 28,295,000 702,462 SH   DFND   702,462 0 0
GENCORP SDCV4 368682AN0 40,825,000 22,500,000 SH   DFND   22,500,000 0 0
GENERAL COM 369550108 67,000 25,000 SH Put DFND   25,000 0 0
GENERAL COM 37045V100 4,257,000 1,010,470 SH Call DFND   1,010,470 0 0
GENERAL JRPFD 37045V209 1,008,000 20,000 SH   DFND   20,000 0 0
GILEAD S NOTE1 375558AN3 125,729,000 45,150,000 PRN   DFND   45,150,000 0 0
GILEAD S NOTE1 375558AP8 94,149,000 34,000,000 PRN   DFND   34,000,000 0 0
GOLDMAN COM 38141G104 395,000 50,000 SH Put DFND   50,000 0 0
GREENBRI NOTE3 393657AH4 518,000 480,000 PRN   DFND   480,000 0 0
GREIF IN CLA 397624107 5,708,000 116,417 SH   DFND   116,417 0 0
HALCON R COMNE 40537Q209 4,430,000 1,000,000 SH   DFND   1,000,000 0 0
HALLIBUR COM 406216101 12,000 20,000 SH Put DFND   20,000 0 0
HEALTHCA COM 421946104 2,147,000 92,912 SH   DFND   92,912 0 0
HEALTH C PFDPE 42217K601 434,000 7,500 SH   DFND   7,500 0 0
HEARTLAN COM 422347104 2,359,000 166,223 SH   DFND   166,223 0 0
HERTZ GL COM 42805T105 4,603,000 207,700 SH   DFND   207,700 0 0
HESS COR COM 42809H107 1,838,000 23,760 SH   DFND   23,760 0 0
HEWLETT COM 428236103 1,000 51,600 SH Call DFND   51,600 0 0
HIGHWOOD COM 431284108 12,359,000 350,000 SH   DFND   350,000 0 0
HILLSHIR COM 432589109 5,533,000 180,000 SH   DFND   180,000 0 0
HOME DEP COM 437076102 169,000 100,000 SH Call DFND   100,000 0 0
HOME DEP COM 437076102 23,980,000 316,146 SH   DFND   316,146 0 0
HOME PRO COM 437306103 8,648,000 149,752 SH   DFND   149,752 0 0
HOSPIRA COM 441060100 36,267,000 924,704 SH   DFND   924,704 0 0
HOWARD H COM 44267D107 12,585,000 111,999 SH   DFND   111,999 0 0
HUDSON P COM 444097109 14,674,000 754,458 SH   DFND   754,458 0 0
HUMANA I COM 444859102 81,587,000 874,175 SH   DFND   874,175 0 0
IHS INC CLA 451734107 9,176,000 80,360 SH   DFND   80,360 0 0
INTEGRA NOTE1 457985AK5 1,016,000 1,000,000 PRN   DFND   1,000,000 0 0
INTEL CO COM 458140100 7,449,000 325,000 SH   DFND   325,000 0 0
INTEL CO SDCV2 458140AD2 1,085,000 1,000,000 SH   DFND   1,000,000 0 0
INTERMUN NOTE2 45884XAE3 9,902,000 11,000,000 PRN   DFND   11,000,000 0 0
INTERNAT COM 459902102 5,720,000 302,178 SH   DFND   302,178 0 0
INTL PAP COM 460146103 13,000 20,000 SH Put DFND   20,000 0 0
INTERPUB COM 460690100 3,554,000 206,857 SH   DFND   206,857 0 0
ISHARES COM 464287432 591,000 585,000 SH Call DFND   585,000 0 0
ISHARES COM 464287739 148,000 100,000 SH Call DFND   100,000 0 0
ISHARES U.S.R 464287739 2,233,000 35,000 SH   DFND   35,000 0 0
ISHARES COM 464288513 358,000 270,000 SH Put DFND   270,000 0 0
ISHARES IBOXX 464288513 6,548,000 71,500 SH   DFND   71,500 0 0
ISIS PHA COM 464330109 180,000 50,000 SH Put DFND   50,000 0 0
JPMORGAN COM 46625H100 58,000 300,000 SH Call DFND   300,000 0 0
JPMORGAN COM 46625H100 32,032,000 619,691 SH   DFND   619,691 0 0
JOY GLOB COM 481165108 6,438,000 126,132 SH   DFND   126,132 0 0
KALOBIOS COM 48344T100 565,000 125,000 SH   DFND   125,000 0 0
KB HOME COM 48666K109 69,000 235,400 SH Put DFND   235,400 0 0
KEYCORP COM 493267108 10,810,000 948,255 SH   DFND   948,255 0 0
KILROY R COM 49427F108 36,565,000 732,025 SH   DFND   732,025 0 0
KIMBERLY COM 494368103 7,000 25,000 SH Call DFND   25,000 0 0
KIMCO RL COM 49446R109 3,575,000 177,154 SH   DFND   177,154 0 0
KINDER M COM 49456B101 123,000 25,000 SH Call DFND   25,000 0 0
KINDER M COM 49456B101 8,851,000 248,822 SH   DFND   248,822 0 0
KRAFT FO COM 50076Q106 36,914,000 703,924 SH   DFND   703,924 0 0
L BRANDS COM 501797104 70,000 200,000 SH Put DFND   200,000 0 0
LTC PPTY COM 502175102 10,154,000 267,356 SH   DFND   267,356 0 0
LANDSTAR COM 515098101 11,166,000 199,466 SH   DFND   199,466 0 0
LAUDER E CLA 518439104 58,741,000 840,359 SH   DFND   840,359 0 0
LENNAR C COM 526057104 107,000 50,000 SH Call DFND   50,000 0 0
LENNAR C CLA 526057104 6,938,000 196,000 SH   DFND   196,000 0 0
LEVEL 3 NOTE7 52729NBP4 11,367,000 9,275,000 PRN   DFND   9,275,000 0 0
LIBERTY SHBEN 531172104 25,880,000 726,954 SH   DFND   726,954 0 0
LINEAR T NOTE3 535678AC0 1,067,000 1,000,000 PRN   DFND   1,000,000 0 0
LINKEDIN COMCL 53578A108 18,682,000 75,925 SH   DFND   75,925 0 0
LOCKHEED COM 539830109 66,000 25,000 SH Put DFND   25,000 0 0
LOUISIAN COM 546347105 5,273,000 299,789 SH   DFND   299,789 0 0
LUCENT T DBCV2 549463AG2 15,161,000 15,470,000 SH   DFND   15,470,000 0 0
MB FINAN COM 55264U108 6,911,000 244,717 SH   DFND   244,717 0 0
MGM RESO COM 552953101 58,000 150,000 SH Put DFND   150,000 0 0
MACYS IN COM 55616P104 265,000 200,000 SH Call DFND   200,000 0 0
MACYS IN COM 55616P104 41,016,000 947,899 SH   DFND   947,899 0 0
MANNKIND COM 56400P201 223,000 100,000 SH Call DFND   100,000 0 0
MANNKIND COM 56400P201 0 24,200 SH Put DFND   24,200 0 0
MASCO CO COM 574599106 4,409,000 207,200 SH   DFND   207,200 0 0
MAST THE COM 576314108 88,000 200,000 SH   DFND   200,000 0 0
MATTRESS COM 57722W106 7,489,000 235,515 SH   DFND   235,515 0 0
MCDERMOT COM 580037109 2,000 20,000 SH Call DFND   20,000 0 0
MCGRAW H COM 580645109 46,645,000 711,160 SH   DFND   711,160 0 0
MEADOWBR COM 58319P108 5,391,000 829,415 SH   DFND   829,415 0 0
MENTOR G SDCV4 587200AK2 14,214,000 10,887,000 SH   DFND   10,887,000 0 0
MERRIMAC NOTE4 590328AA8 10,001,000 11,000,000 PRN   DFND   11,000,000 0 0
MERU NET COM 59047Q103 262,000 80,000 SH   DFND   80,000 0 0
MICROSOF COM 594918104 64,583,000 1,938,838 SH   DFND   1,938,838 0 0
MICROCHI SDCV2 595017AB0 31,330,000 20,000,000 SH   DFND   20,000,000 0 0
MICRON T NOTE1 595112AH6 3,812,000 3,000,000 PRN   DFND   3,000,000 0 0
MICRON T NOTE1 595112AQ6 16,100,000 8,642,000 PRN   DFND   8,642,000 0 0
MICRON T NOTE2 595112AW3 15,269,000 8,000,000 PRN   DFND   8,000,000 0 0
MID-AMER COM 59522J103 38,508,000 616,133 SH   DFND   616,133 0 0
MOHAWK I COM 608190104 4,266,000 32,749 SH   DFND   32,749 0 0
MONDELEZ COM 609207105 320,000 400,000 SH Call DFND   400,000 0 0
MONDELEZ CLA 609207105 61,655,000 1,962,274 SH   DFND   1,962,274 0 0
MONSANTO COM 61166W101 3,470,000 33,243 SH   DFND   33,243 0 0
MORGAN S COM 617446448 52,000 150,000 SH Call DFND   150,000 0 0
MORGAN S COMNE 617446448 9,083,000 337,035 SH   DFND   337,035 0 0
MYLAN IN NOTE3 628530AJ6 101,552,000 35,000,000 PRN   DFND   35,000,000 0 0
MYRIAD G COM 62855J104 25,596,000 1,089,206 SH   DFND   1,089,206 0 0
NRG ENER COM 629377508 173,000 105,000 SH Call DFND   105,000 0 0
NRG ENER COMNE 629377508 9,224,000 337,500 SH   DFND   337,500 0 0
NANOSPHE COM 63009F105 550,000 275,000 SH   DFND   275,000 0 0
NATIONAL CLA 633707104 6,834,000 332,694 SH   DFND   332,694 0 0
NATIONAL COM 637071101 24,000 20,000 SH Put DFND   20,000 0 0
NATIONAL COM 637071101 33,427,000 427,952 SH   DFND   427,952 0 0
NATIONAL COM 637417106 1,591,000 50,000 SH   DFND   50,000 0 0
NAVISTAR NOTE3 63934EAL2 1,018,000 1,000,000 PRN   DFND   1,000,000 0 0
NEUROCRI COM 64125C109 837,000 73,900 SH   DFND   73,900 0 0
NEWELL R COM 651229106 20,017,000 727,876 SH   DFND   727,876 0 0
NEWMONT COM 651639106 5,145,000 183,100 SH   DFND   183,100 0 0
NEWS COR CLA 65249B109 20,044,000 1,248,088 SH   DFND   1,248,088 0 0
NEXTERA COM 65339F101 12,024,000 150,000 SH   DFND   150,000 0 0
NIKE INC COM 654106103 31,000 150,000 SH Put DFND   150,000 0 0
NOKIA CO SPONS 654902204 5,859,000 900,000 SH   DFND   900,000 0 0
NORFOLK COM 655844108 2,518,000 32,558 SH   DFND   32,558 0 0
NORTHEAS COM 664397106 14,976,000 363,049 SH   DFND   363,049 0 0
NORTHROP COM 666807102 64,000 25,000 SH Put DFND   25,000 0 0
NORTHSTA COM 66704R100 3,042,000 327,778 SH   DFND   327,778 0 0
NOVAVAX COM 670002104 1,048,000 331,628 SH   DFND   331,628 0 0
NUANCE C NOTE2 67020YAF7 1,523,000 1,500,000 PRN   DFND   1,500,000 0 0
NUCOR CO COM 670346105 2,627,000 53,595 SH   DFND   53,595 0 0
NUVASIVE NOTE2 670704AC9 980,000 1,000,000 PRN   DFND   1,000,000 0 0
OGE ENER COM 670837103 6,334,000 175,500 SH   DFND   175,500 0 0
NUVERRA COM 67091K104 458,000 200,000 SH   DFND   200,000 0 0
OFG BANC COM 67103X102 1,214,000 75,000 SH   DFND   75,000 0 0
ONCOLYTI COM 682310107 122,000 50,000 SH   DFND   50,000 0 0
ONYX PHA COM 683399109 60,451,000 484,886 SH   DFND   484,886 0 0
OWENS CO COM 690742101 5,370,000 141,391 SH   DFND   141,391 0 0
PG&E COR COM 69331C108 12,480,000 304,981 SH   DFND   304,981 0 0
PHH CORP NOTE6 693320AQ6 20,439,000 10,000,000 PRN   DFND   10,000,000 0 0
PNC FINL COM 693475105 128,000 74,900 SH Put DFND   74,900 0 0
PVH CORP COM 693656100 60,000 100,000 SH Call DFND   100,000 0 0
PVH CORP COM 693656100 16,952,000 142,828 SH   DFND   142,828 0 0
PACWEST COM 695263103 17,873,000 520,174 SH   DFND   520,174 0 0
PARAGON CLANE 69913R408 464,000 80,337 SH   DFND   80,337 0 0
PARKWAY COM 70159Q104 14,927,000 839,999 SH   DFND   839,999 0 0
PENN NAT COM 707569109 4,069,000 73,502 SH   DFND   73,502 0 0
PENNEY J COM 708160106 6,615,000 750,000 SH   DFND   750,000 0 0
PENNSYLV SHBEN 709102107 15,708,000 839,999 SH   DFND   839,999 0 0
PEPSICO COM 713448108 21,000 200,000 SH Call DFND   200,000 0 0
PHILIP M COM 718172109 79,000 50,000 SH Call DFND   50,000 0 0
PHILIP M COM 718172109 100,000 50,000 SH Put DFND   50,000 0 0
PHILIP M COM 718172109 88,146,000 1,017,968 SH   DFND   1,017,968 0 0
PINNACLE COM 723484101 6,322,000 115,500 SH   DFND   115,500 0 0
PLURISTE COM 72940R102 54,000 175,000 SH Call DFND   175,000 0 0
POST PPT COM 737464107 6,303,000 140,000 SH   DFND   140,000 0 0
PRAXAIR COM 74005P104 9,389,000 78,108 SH   DFND   78,108 0 0
PROCTER COM 742718109 280,000 100,000 SH Put DFND   100,000 0 0
PROCTER COM 742718109 19,471,000 257,586 SH   DFND   257,586 0 0
PROLOGIS COM 74340W103 3,476,000 92,397 SH   DFND   92,397 0 0
PUBLIC S COM 74460D109 2,087,000 12,996 SH   DFND   12,996 0 0
RLJ LODG COM 74965L101 35,705,000 1,519,998 SH   DFND   1,519,998 0 0
RACKSPAC COM 750086100 13,531,000 256,469 SH   DFND   256,469 0 0
RADIAN G COM 750236101 3,413,000 245,000 SH   DFND   245,000 0 0
RALPH LA CLA 751212101 15,244,000 92,538 SH   DFND   92,538 0 0
RAMCO-GE COMSH 751452202 7,191,000 466,666 SH   DFND   466,666 0 0
RAYTHEON COM 755111507 60,000 25,000 SH Put DFND   25,000 0 0
REDWOOD COM 758075402 34,438,000 1,749,002 SH   DFND   1,749,002 0 0
REGAL BE COM 758750103 10,094,000 148,593 SH   DFND   148,593 0 0
REGENCY COM 758849103 5,003,000 103,477 SH   DFND   103,477 0 0
REGULUS COM 75915K101 220,000 23,295 SH   DFND   23,295 0 0
REGIONS COM 7591EP100 16,122,000 1,740,998 SH   DFND   1,740,998 0 0
REPUBLIC COM 760759100 11,725,000 351,480 SH   DFND   351,480 0 0
RETAIL O COM 76131N101 12,092,000 874,999 SH   DFND   874,999 0 0
RIO TINT COM 767204100 48,000 30,000 SH Put DFND   30,000 0 0
RITE AID COM 767754104 4,760,000 1,000,000 SH   DFND   1,000,000 0 0
ROADRUNN COM 76973Q105 847,000 30,000 SH   DFND   30,000 0 0
ROCK-TEN CLA 772739207 9,532,000 94,122 SH   DFND   94,122 0 0
ROSETTA COM 777780107 730,000 45,000 SH   DFND   45,000 0 0
ROSS STO COM 778296103 755,000 200,000 SH Call DFND   200,000 0 0
ROSS STO COM 778296103 13,318,000 182,945 SH   DFND   182,945 0 0
ROYAL GO NOTE2 780287AA6 482,000 500,000 PRN   DFND   500,000 0 0
RYLAND G COM 783764103 322,000 158,800 SH Put DFND   158,800 0 0
RYLAND G NOTE0 783764AS2 4,525,000 5,000,000 PRN   DFND   5,000,000 0 0
RYMAN HO COM 78377T107 20,492,000 593,800 SH   DFND   593,800 0 0
SBA COMM COM 78388J106 34,045,000 423,131 SH   DFND   423,131 0 0
SBA COMM NOTE4 78388JAM8 26,585,000 10,000,000 PRN   DFND   10,000,000 0 0
SEI INVE COM 784117103 828,000 26,800 SH   DFND   26,800 0 0
SPDR S&P COM 78462F103 73,000 110,000 SH Put DFND   110,000 0 0
SPDR S&P TRUNI 78462F103 19,351,000 115,176 SH   DFND   115,176 0 0
SPDR SER COM 78464A714 10,000 50,000 SH Put DFND   50,000 0 0
SPDR SER COM 78464A730 10,000 25,000 SH Put DFND   25,000 0 0
SVB FINL COM 78486Q101 14,221,000 164,647 SH   DFND   164,647 0 0
SAFEGUAR COMNE 786449207 4,868,000 310,290 SH   DFND   310,290 0 0
SANDISK COM 80004C101 3,767,000 63,303 SH   DFND   63,303 0 0
SANDISK NOTE1 80004CAD3 7,934,000 6,000,000 PRN   DFND   6,000,000 0 0
SANGAMO COM 800677106 2,358,000 225,000 SH   DFND   225,000 0 0
SANOFI RIGHT 80105N113 2,430,000 1,203,178 SH   DFND   1,203,178 0 0
SCHWAB C COM 808513105 30,818,000 1,457,812 SH   DFND   1,457,812 0 0
SELECT S COM 81369Y308 89,000 50,000 SH Put DFND   50,000 0 0
SELECT S COM 81369Y886 28,000 120,000 SH Call DFND   120,000 0 0
SELECT S COM 81369Y886 14,000 200,000 SH Put DFND   200,000 0 0
SEMPRA E COM 816851109 10,914,000 127,500 SH   DFND   127,500 0 0
SEQUENOM COM 817337405 16,000 50,000 SH Call DFND   50,000 0 0
SEQUENOM COMNE 817337405 801,000 300,000 SH   DFND   300,000 0 0
SERVICE COM 817565104 1,862,000 100,000 SH   DFND   100,000 0 0
SHERWIN COM 824348106 130,000 33,300 SH Put DFND   33,300 0 0
SIGNATUR COM 82669G104 12,878,000 140,717 SH   DFND   140,717 0 0
SILGAN H COM 827048109 10,491,000 223,211 SH   DFND   223,211 0 0
SIMON PP COM 828806109 49,890,000 336,574 SH   DFND   336,574 0 0
SMUCKER COMNE 832696405 34,431,000 327,787 SH   DFND   327,787 0 0
SNYDERS- COM 833551104 10,066,000 348,906 SH   DFND   348,906 0 0
SOVRAN S COM 84610H108 25,428,000 335,999 SH   DFND   335,999 0 0
SPEED CO COM 84764T106 656,000 200,000 SH   DFND   200,000 0 0
SPRINT C COMSE 85207U105 1,679,000 270,372 SH   DFND   270,372 0 0
STANLEY COM 854502101 5,437,000 60,034 SH   DFND   60,034 0 0
STARWOOD COM 85590A401 759,000 220,000 SH Call DFND   220,000 0 0
STARWOOD COM 85590A401 37,995,000 571,790 SH   DFND   571,790 0 0
STONE EN NOTE1 861642AN6 547,000 500,000 PRN   DFND   500,000 0 0
SUNSHINE COM 86782U106 1,448,000 125,000 SH   DFND   125,000 0 0
SYNERGY COMNE 871639308 324,000 70,936 SH   DFND   70,936 0 0
TAIWAN S SPONS 874039100 45,125,000 2,660,700 SH   DFND   2,660,700 0 0
TELEFLEX NOTE3 879369AA4 49,375,000 35,000,000 PRN   DFND   35,000,000 0 0
TERADYNE NOTE4 880770AE2 101,418,000 33,500,000 PRN   DFND   33,500,000 0 0
TEREX CO COM 880779103 521,000 15,516 SH   DFND   15,516 0 0
TERRENO COM 88146M101 2,984,000 168,000 SH   DFND   168,000 0 0
TESLA MT NOTE1 88160RAA9 59,223,000 35,000,000 PRN   DFND   35,000,000 0 0
THERAPEU COM 88338N107 293,000 100,000 SH   DFND   100,000 0 0
THOMPSON COM 884768102 8,000 30,000 SH Call DFND   30,000 0 0
THOMPSON UNIT9 884768300 17,343,000 924,544 SH   DFND   924,544 0 0
TIBCO SO NOTE2 88632QAB9 944,000 925,000 PRN   DFND   925,000 0 0
TIME WAR COM 88732J207 9,685,000 86,786 SH   DFND   86,786 0 0
TOLL BRO COM 889478103 12,447,000 383,812 SH   DFND   383,812 0 0
TOWERSTR COM 892000100 421,000 147,100 SH   DFND   147,100 0 0
TRULIA I COM 897888103 4,779,000 101,608 SH   DFND   101,608 0 0
UIL HLDG COM 902748102 2,788,000 75,000 SH   DFND   75,000 0 0
US BANCO COMNE 902973304 3,658,000 100,000 SH   DFND   100,000 0 0
UNS ENER COM 903119105 8,741,000 187,500 SH   DFND   187,500 0 0
U S AIRW COM 90341W108 34,693,000 1,829,825 SH   DFND   1,829,825 0 0
UNDER AR COM 904311107 102,000 400,000 SH Put DFND   400,000 0 0
UNITED C COM 90984P303 4,773,000 318,170 SH   DFND   318,170 0 0
UNITED R COM 911363109 10,582,000 181,546 SH   DFND   181,546 0 0
UNITED S COM 912909108 3,423,000 166,222 SH   DFND   166,222 0 0
UNITED S NOTE4 912909AE8 1,028,000 1,000,000 PRN   DFND   1,000,000 0 0
UNITED T NOTE1 91307CAF9 18,701,000 11,000,000 PRN   DFND   11,000,000 0 0
VENTAS I COM 92276F100 38,831,000 631,392 SH   DFND   631,392 0 0
VERISIGN SDCV3 92343EAD4 51,674,000 33,000,000 SH   DFND   33,000,000 0 0
VERIZON COM 92343V104 6,815,000 146,055 SH   DFND   146,055 0 0
VIACOM I CLB 92553P201 17,299,000 206,976 SH   DFND   206,976 0 0
VIROPHAR NOTE2 928241AH1 12,869,000 6,000,000 PRN   DFND   6,000,000 0 0
VODAFONE SPONS 92857W209 22,665,000 644,248 SH   DFND   644,248 0 0
VORNADO SHBEN 929042109 5,146,000 61,214 SH   DFND   61,214 0 0
WCI CMNT COMPA 92923C807 2,416,000 140,000 SH   DFND   140,000 0 0
WAL-MART COM 931142103 116,000 100,000 SH Call DFND   100,000 0 0
WAL-MART COM 931142103 41,718,000 564,058 SH   DFND   564,058 0 0
WALGREEN COM 931422109 428,000 200,000 SH Put DFND   200,000 0 0
WALTER I NOTE4 93317WAA0 5,253,000 5,000,000 PRN   DFND   5,000,000 0 0
WASHINGT SHBEN 939653101 2,246,000 88,889 SH   DFND   88,889 0 0
WEBMD HE NOTE2 94770VAF9 947,000 1,000,000 PRN   DFND   1,000,000 0 0
WELLS FA COM 949746101 7,400,000 179,086 SH   DFND   179,086 0 0
WERNER E COM 950755108 7,377,000 316,190 SH   DFND   316,190 0 0
WESCO IN DBCV6 95082PAH8 37,100,000 13,500,000 SH   DFND   13,500,000 0 0
WESTAR E COM 95709T100 13,379,000 436,500 SH   DFND   436,500 0 0
WESTERN COM 959319104 1,936,000 64,431 SH   DFND   64,431 0 0
WESTPORT COMNE 960908309 1,451,000 60,000 SH   DFND   60,000 0 0
WEYERHAE COM 962166104 188,000 175,000 SH Call DFND   175,000 0 0
WHITEWAV COMCL 966244105 41,226,000 2,064,413 SH   DFND   2,064,413 0 0
WILLIAMS COM 969904101 380,000 200,000 SH Put DFND   200,000 0 0
WINTHROP SHBEN 976391300 474,000 42,500 SH   DFND   42,500 0 0
WRIGHT M COM 98235T107 50,000 50,000 SH Call DFND   50,000 0 0
WRIGHT M NOTE2 98235TAC1 8,580,000 7,000,000 PRN   DFND   7,000,000 0 0
XPO LOGI NOTE4 983793AA8 16,044,000 11,000,000 PRN   DFND   11,000,000 0 0
YAMANA G COM 98462Y100 140,000 13,464 SH   DFND   13,464 0 0
ZIONS BA COM 989701107 4,411,000 160,885 SH   DFND   160,885 0 0
ACCENTUR SHSCL G1151C101 1,834,000 24,900 SH   DFND   24,900 0 0
HERBALIF COMUS G4412G101 5,233,000 75,000 SH   DFND   75,000 0 0
MAIDEN H SHS G5753U112 4,429,000 374,999 SH   DFND   374,999 0 0
SIGNET J SHS G81276100 2,073,000 28,931 SH   DFND   28,931 0 0
WARNER C SHSA G94368100 9,140,000 400,000 SH   DFND   400,000 0 0
NOBLE CO COM H5833N103 6,000 25,000 SH Call DFND   25,000 0 0
NOBLE CO NAMEN H5833N103 45,702,000 1,210,000 SH   DFND   1,210,000 0 0
TYCO INT SHS H89128104 14,797,000 423,009 SH   DFND   423,009 0 0
INTERXIO SHS N47279109 9,563,000 429,998 SH   DFND   429,998 0 0
NIELSEN COM N63218106 53,794,000 1,475,842 SH   DFND   1,475,842 0 0
BALTIC T COM Y0553W103 367,000 75,000 SH   DFND   75,000 0 0