ADVANCED MICRO DEVICES INC NOTE 6.000% 5/0 007903AL1 22888 22047000 PRN SOLE 22047000 0 0 ALPHA NATURAL RESOURCES INC COM 02076X102 66385 11138341 SH SOLE 11138341 0 0 ALPHA NATURAL RESOURCES INC COM 02076X102 2212 5650000 SH Call SOLE 5650000 0 0 ALPHA NATURAL RESOURCES INC NOTE 3.750%12/1 02076XAE2 5280 5500000 PRN SOLE 5500000 0 0 APOLLO INVT CORP NOTE 5.750% 1/1 03761UAE6 26393 24958000 PRN SOLE 24958000 0 0 ARCH COAL INC COM 039380100 260 1000000 SH Call SOLE 1000000 0 0 ARES CAP CORP NOTE 4.875% 3/1 04010LAG8 10212 9807000 PRN SOLE 9807000 0 0 AT&T INC COM 00206R102 126 50000 SH Put SOLE 50000 0 0 BEAZER HOMES USA INC COM NEW 07556Q881 65 50000 SH Put SOLE 50000 0 0 BHP BILLITON LTD SPONSORED ADR 088606108 376 250000 SH Put SOLE 250000 0 0 BOTTOMLINE TECH DEL INC NOTE 1.500%12/0 101388AA4 13010 11310000 PRN SOLE 11310000 0 0 BROADSOFT INC NOTE 1.500% 7/0 11133BAB8 5854 5250000 PRN SOLE 5250000 0 0 CALPINE CORP COM NEW 131347304 486 25000 SH SOLE 25000 0 0 CATERPILLAR INC DEL COM 149123101 1306 250000 SH Put SOLE 250000 0 0 CBEYOND INC COM 149847105 744 116000 SH SOLE 116000 0 0 CHIQUITA BRANDS INTL INC NOTE 4.250% 8/1 170032AT3 30072 30549000 PRN SOLE 30549000 0 0 CIENA CORP DEBT 4.000%12/1 171779AK7 8814 5818000 PRN SOLE 5818000 0 0 COGENT COMM GROUP INC NOTE 1.000% 6/1 19239VAB0 46762 46762000 PRN SOLE 46762000 0 0 CONSOL ENERGY INC COM 20854P109 589 17500 SH SOLE 17500 0 0 DIGITAL RIV INC NOTE 1.250% 1/0 25388BAB0 2989 3000000 PRN SOLE 3000000 0 0 DIGITAL RIV INC NOTE 2.000%11/0 25388BAD6 4973 5017000 PRN SOLE 5017000 0 0 EAGLE MATERIALS INC COM 26969P108 18 50000 SH Put SOLE 50000 0 0 EMERALD OIL INC COM 29101U100 1438 200000 SH SOLE 200000 0 0 ENDEAVOUR INTERNATIONAL CORP COM 29259G101 33935 6342979 SH SOLE 6342979 0 0 FASTENAL CO COM 311900104 208 100000 SH Put SOLE 100000 0 0 FIBROCELL SCIENCE INC COM NEW 315721209 55 12500 SH SOLE 12500 0 0 FINISAR CORP NOTE 5.000%10/1 31787AAK7 34794 15915000 PRN SOLE 15915000 0 0 FLOWSERVE CORP COM 34354P105 20 25000 SH Put SOLE 25000 0 0 GAMESTOP CORP NEW CL A 36467W109 43 70000 SH Put SOLE 70000 0 0 GENERAL MTRS CO *W EXP 07/10/201 37045V126 939 50000 SH Call SOLE 50000 0 0 GENERAL MTRS CO COM 37045V100 590 16400 SH SOLE 16400 0 0 INLAND REAL ESTATE CORP NOTE 5.000%11/1 457461AC5 5381 5000000 PRN SOLE 5000000 0 0 INTERDIGITAL INC NOTE 2.500% 3/1 458660AB3 58124 55159000 PRN SOLE 55159000 0 0 ISHARES CHINA LG-CAP ETF 464287184 62 100000 SH Put SOLE 100000 0 0 ISHARES RUSSELL 2000 ETF 464287655 3846 2250000 SH Put SOLE 2250000 0 0 ISIS PHARMACEUTICALS INC DEL NOTE 2.750%10/0 464337AG9 19346 8250000 PRN SOLE 8250000 0 0 JETBLUE AIRWAYS CORP COM 477143101 467 70000 SH SOLE 70000 0 0 JETBLUE AIRWAYS CORP DBCV 5.500%10/1 477143AD3 3694 2500000 PRN SOLE 2500000 0 0 JETBLUE AIRWAYS CORP DBCV 5.500%10/1 477143AE1 4261 2626000 PRN SOLE 2626000 0 0 JETBLUE AIRWAYS CORP DBCV 6.750%10/1 477143AF8 5495 3762000 PRN SOLE 3762000 0 0 JETBLUE AIRWAYS CORP DBCV 6.750%10/1 477143AG6 45308 29278000 PRN SOLE 29278000 0 0 JOY GLOBAL INC COM 481165108 1984 450000 SH Put SOLE 450000 0 0 L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 49479 45369000 PRN SOLE 45369000 0 0 LEAP WIRELESS INTL INC NOTE 4.500% 7/1 521863AL4 31486 30869000 PRN SOLE 30869000 0 0 LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 73721 2762114 SH SOLE 2762114 0 0 LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 3485 500000 SH Call SOLE 500000 0 0 LEVEL 3 COMMUNICATIONS INC NOTE 7.000% 3/1 52729NBP4 5376 4400000 PRN SOLE 4400000 0 0 LOCKHEED MARTIN CORP COM 539830109 383 3000 SH SOLE 3000 0 0 LOUISIANA PAC CORP COM 546347105 78 25000 SH Put SOLE 25000 0 0 LUMBER LIQUIDATORS HLDGS INC COM 55003T107 46 35000 SH Put SOLE 35000 0 0 MICRON TECHNOLOGY INC COM 595112103 1956 600000 SH Call SOLE 600000 0 0 MICRON TECHNOLOGY INC COM 595112103 4498 257500 SH SOLE 257500 0 0 MICROSOFT CORP COM 594918104 275 8250 SH SOLE 8250 0 0 NORTHERN DYNASTY MINERALS LT COM NEW 66510M204 730 500000 SH SOLE 500000 0 0 PAN AMERICAN SILVER CORP COM 697900108 113 10750 SH SOLE 10750 0 0 PARAGON SHIPPING INC-CLASS A COM 69913R309 78 13500 SH SOLE 13500 0 0 PEABODY ENERGY CORP COM 704549104 243 14111 SH SOLE 14111 0 0 PEABODY ENERGY CORP COM 704549104 116 200000 SH Call SOLE 200000 0 0 PENDRELL CORP COM 70686R104 3052 1573146 SH SOLE 1573146 0 0 PHOTRONICS INC NOTE 3.250% 4/0 719405AH5 30535 27355000 PRN SOLE 27355000 0 0 PHOTRONICS INC NOTE 5.500%10/0 719405AF9 13887 8500000 PRN SOLE 8500000 0 0 PROGRESSIVE CORP OHIO COM 743315103 477 17500 SH SOLE 17500 0 0 PROVIDENCE SVC CORP NOTE 6.500% 5/1 743815AB8 32442 31090000 PRN SOLE 31090000 0 0 RAMBUS INC DEL NOTE 5.000% 6/1 750917AC0 38749 37620000 PRN SOLE 37620000 0 0 RESOLUTE FST PRODS INC COM 76117W109 170034 12861911 SH SOLE 12861911 0 0 ROVI CORP NOTE 2.625% 2/1 779376AB8 15264 15094000 PRN SOLE 15094000 0 0 ROYAL BK CDA MONTREAL QUE COM 780087102 285 300000 SH Put SOLE 300000 0 0 SANDERSON FARMS INC COM 800013104 15 20000 SH Put SOLE 20000 0 0 SANDRIDGE ENERGY INC COM 80007P307 323 55200 SH SOLE 55200 0 0 SCORPIO TANKERS INC SHS Y7542C106 1366 140000 SH SOLE 140000 0 0 SIRIUS XM RADIO INC COM 82967N108 65 1450000 SH Put SOLE 1450000 0 0 SONDE RES CORP COM 835426107 2249 2318163 SH SOLE 2318163 0 0 SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 1617 550000 SH Put SOLE 550000 0 0 SPDR SERIES TRUST S&P HOMEBUILD 78464A888 133 100000 SH Put SOLE 100000 0 0 TEEKAY CORPORATION COM Y8564W103 513 12000 SH SOLE 12000 0 0 TEXAS INDS INC COM 882491103 13 17500 SH Put SOLE 17500 0 0 TRANSOCEAN LTD REG SHS H8817H100 223 5000 SH SOLE 5000 0 0 TTM TECHNOLOGIES INC NOTE 3.250% 5/1 87305RAC3 19954 19562000 PRN SOLE 19562000 0 0 VANTAGE DRILLING COMPANY ORD SHS G93205113 502 290000 SH SOLE 290000 0 0 VOLCANO CORPORATION NOTE 2.875% 9/0 928645AA8 6574 6059000 PRN SOLE 6059000 0 0 WALTER ENERGY INC COM 93317Q105 195 700000 SH Call SOLE 700000 0 0 WALTER ENERGY INC COM 93317Q105 199 14200 SH SOLE 14200 0 0 WEB COM GROUP INC NOTE 1.000% 8/1 94733AAA2 18220 16000000 PRN SOLE 16000000 0 0 WEBMD HEALTH CORP NOTE 2.250% 3/3 94770VAH5 26005 26435000 PRN SOLE 26435000 0 0 WEBMD HEALTH CORP NOTE 2.500% 1/3 94770VAF9 22667 23986000 PRN SOLE 23986000 0 0 WRIGHT MED GROUP INC NOTE 2.625%12/0 98235TAA5 513 519000 PRN SOLE 519000 0 0