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
AMERICAN CAP LTD COM 02503Y103 10,773 728,408 SH   DFND 1, 2 728,408 0 0
AR CAP ACQUISITION CORP UNIT 10/06/2019 00191R208 4,239 426,000 SH   DFND 1, 2 426,000 0 0
AXALTA COATING SYS LTD COM G0750C108 10,678 386,592 SH   DFND 1, 2 386,592 0 0
CADIZ INC COM NEW 127537207 515 50,179 SH   DFND 1, 2 50,179 0 0
CHC GROUP LTD SHS G07021101 3,739 2,811,404 SH   DFND 1, 2 2,811,404 0 0
CITIZENS FINL GROUP INC COM 174610105 483 20,020 SH   DFND 1, 2 20,020 0 0
CLUBCORP HLDGS INC COM 18948M108 3,897 201,307 SH   DFND 1, 2 201,307 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 1,614 59,724 SH   DFND 1, 2 59,724 0 0
COVANTA HLDG CORP COM 22282E102 2,565 114,342 SH   DFND 1, 2 114,342 0 0
DAVE & BUSTERS ENTMT INC COM 238337109 11,777 386,648 SH   DFND 1, 2 386,648 0 0
ENPRO INDS INC COM 29355X107 4,696 71,204 SH   DFND 1, 2 71,204 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 3,168 119,322 SH   DFND 1, 2 119,322 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 3,332 204,262 SH   DFND 1, 2 204,262 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 868 59,853 SH   DFND 1, 2 59,853 0 0
FOREST CITY ENTERPRISES INC CL A 345550107 9,056 354,842 SH   DFND 1, 2 354,842 0 0
FORESTAR GROUP INC COM 346233109 12,549 795,761 SH   DFND 1, 2 795,761 0 0
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 941 1,000,000 PRN   DFND 1, 2 1,000,000 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 4,332 117,504 SH   DFND 1, 2 117,504 0 0
GLOBAL CASH ACCESS HLDGS INC COM 378967103 3,182 417,531 SH   DFND 1, 2 417,531 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 10,935 465,711 SH   DFND 1, 2 465,711 0 0
INTEL CORP SDCV 12/1 458140AD2 80,977 65,000,000 PRN   DFND 1, 2 65,000,000 0 0
INTERNATIONAL SPEEDWAY CORP CL A 460335201 3,377 103,572 SH   DFND 1, 2 103,572 0 0
JAKKS PAC INC COM 47012E106 987 144,238 SH   DFND 1, 2 144,238 0 0
LADDER CAP CORP CL A 505743104 2,129 115,023 SH   DFND 1, 2 115,023 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 3,463 58,432 SH   DFND 1, 2 58,432 0 0
LEVY ACQUISITION CORP COM 52748T104 1,780 135,335 SH   DFND 1, 2 135,335 0 0
LGI HOMES INC COM 50187T106 12,714 763,149 SH   DFND 1, 2 763,149 0 0
M/I HOMES INC COM 55305B101 17,356 728,023 SH   DFND 1, 2 728,023 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 4,602 55,929 SH   DFND 1, 2 55,929 0 0
MASONITE INTL CORP NEW COM 575385109 3,502 52,064 SH   DFND 1, 2 52,064 0 0
MICRON TECHNOLOGY INC NOTE 3.000%11/1 595112AY9 112,328 102,000,000 PRN   DFND 1, 2 102,000,000 0 0
MORGANS HOTEL GROUP CO COM 61748W108 1,099 141,769 SH   DFND 1, 2 141,769 0 0
OUTERWALL INC COM 690070107 10,600 160,314 SH   DFND 1, 2 160,314 0 0
PATRIOT NATL INC COM 70338T102 2,223 175,000 SH   DFND 1, 2 175,000 0 0
RCS CAP CORP COM CL A 74937W102 3,713 349,005 SH   DFND 1, 2 349,005 0 0
RENTECH INC COM 760112102 1,552 1,386,143 SH   DFND 1, 2 1,386,143 0 0
REXFORD INDL RLTY INC COM 76169C100 1,740 110,050 SH   DFND 1, 2 110,050 0 0
SANDRIDGE ENERGY INC COM 80007P307 2,225 1,250,000 SH   DFND 1, 2 1,250,000 0 0
SERVICE CORP INTL COM 817565104 10,467 401,804 SH   DFND 1, 2 401,804 0 0
STARWOOD WAYPOINT RESIDENTL COM SHS 85571W109 7,666 296,576 SH   DFND 1, 2 296,576 0 0
TAUBMAN CTRS INC COM 876664103 1,639 21,244 SH   DFND 1, 2 21,244 0 0
TRAVELPORT WORLDWIDE LTD SHS G9019D104 136,368 8,165,755 SH   DFND 1, 2 8,165,755 0 0
WEBMD HEALTH CORP NOTE 2.250% 3/3 94770VAH5 12,504 12,500,000 PRN   DFND 1, 2 12,500,000 0 0
WESTLAKE CHEM CORP COM 960413102 496 6,896 SH   DFND 1, 2 6,896 0 0
WILLIAMS COS INC DEL COM 969457100 2,373 46,897 SH   DFND 1, 2 46,897 0 0
WINNEBAGO INDS INC COM 974637100 6,276 295,191 SH   DFND 1, 2 295,191 0 0