The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 | 369 | 13,003 | SH | DFND | 1 | 13,003 | 0 | 0 | |
| BARCLAYS PLC | NOTE 8.250%12/2 | 06738EAA3 | 5,262 | 5,340,000 | PRN | DFND | 1 | 0 | 0 | 5,340,000 | |
| CITIGROUP INC | COM NEW | 172967424 | 35,324 | 833,288 | SH | DFND | 1 | 833,288 | 0 | 0 | |
| FIREEYE INC | NOTE 1.625% 6/0 | 31816QAD3 | 1,325 | 1,500,000 | PRN | DFND | 1 | 1,500,000 | 0 | 0 | |
| HSBC HLDGS PLC | NOTE 6.375%12/2 | 404280AT6 | 59,452 | 61,380,000 | PRN | DFND | 1 | 0 | 0 | 61,380,000 | |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | 14,037 | 165,719 | SH | DFND | 1 | 0 | 0 | 165,719 | |
| ISHARES TR | U.S. PFD STK ETF | 464288687 | 3,910 | 98,000 | SH | DFND | 1 | 0 | 0 | 98,000 | |
| JPMORGAN CHASE & CO | COM | 46625H100 | 11,807 | 190,000 | SH | DFND | 1 | 190,000 | 0 | 0 | |
| JD COM INC | SPON ADR CL A | 47215P106 | 968 | 45,561 | SH | DFND | 1 | 45,561 | 0 | 0 | |
| LIBERTY MEDIA CORP | DEB 3.750% 2/1 | 530715AL5 | 22 | 37,975 | PRN | DFND | 1 | 37,975 | 0 | 0 | |
| LLOYDS BANKING GROUP PLC | SDCV 7.500%12/3 | 539439AG4 | 12,574 | 12,815,000 | PRN | DFND | 1 | 0 | 0 | 12,815,000 | |
| POWERSHARES DB CMDTY IDX TRA | UNIT BEN INT | 73935S105 | 36,128 | 2,353,575 | SH | DFND | 1 | 0 | 0 | 2,353,575 | |
| POWERSHARES ETF TRUST II | SENIOR LN PORT | 73936Q769 | 23,274 | 1,013,200 | SH | DFND | 1 | 0 | 0 | 1,013,200 | |
| QUAD / GRAPHICS INC | COM CL A | 747301109 | 3 | 106 | SH | DFND | 1 | 106 | 0 | 0 | |
| RED ROCK RESORTS INC | CL A | 75700L108 | 548 | 24,922 | SH | DFND | 1 | 24,922 | 0 | 0 | |
| RESOLUTE FST PRODS INC | COM | 76117W109 | 1 | 44 | SH | DFND | 1 | 44 | 0 | 0 | |
| SPDR SER TR | SHT TRM HGH YLD | 78468R408 | 13,014 | 482,152 | SH | DFND | 1 | 0 | 0 | 482,152 | |
| SEMGROUP CORP | CL A | 81663A105 | 812 | 24,938 | SH | DFND | 1 | 24,938 | 0 | 0 | |
| WISDOMTREE TR | HIGH DIV FD | 97717W208 | 224 | 3,345 | SH | DFND | 1 | 0 | 0 | 3,345 | |
| WISDOMTREE TR | EMER MKT HIGH FD | 97717W315 | 18 | 500 | SH | DFND | 1 | 0 | 0 | 500 | |
| WISDOMTREE TR | GLB NAT RES FD | 97717W711 | 96 | 7,500 | SH | DFND | 1 | 0 | 0 | 7,500 | |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 | 7 | 82 | SH | DFND | 1 | 82 | 0 | 0 | |