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
ANIXTER INTL INC COM 035290105 59,831 1,002,022 SH   DFND   1,002,022 0 0
ANIXTER INTL INC COM 035290105 31,424 526,277 SH   DFND 4 526,277 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 4,442 100,000 SH   DFND   100,000 0 0
COVANTA HLDG CORP COM 22282E102 36,313 2,027,500 SH   DFND   2,027,500 0 0
COVANTA HLDG CORP COM 22282E102 195,607 10,921,682 SH   DFND 1 10,921,682 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 84,041 2,584,300 SH   DFND   2,584,300 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 5,770 47,554 SH   DFND   47,554 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 108,236 892,000 SH   DFND 3 892,000 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 97,719 805,333 SH   DFND 4 805,333 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 284 3,738 SH   DFND   3,738 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 91,633 1,206,968 SH   DFND 3 1,206,968 0 0
EXTERRAN CORP COM 30227H106 65,863 4,631,691 SH   DFND   4,631,691 0 0
GENIE ENERGY LTD CL B 372284208 2,055 193,000 SH   DFND   193,000 0 0
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 10,036 56,568 SH   DFND   56,568 0 0
ISHARES INC CORE MSCI EMKT 46434G103 6,575 127,825 SH   DFND   127,825 0 0
KKR & CO INC CL A 48251W104 1,264 50,000 SH   DFND   50,000 0 0
NOVAGOLD RES INC COM NEW 66987E206 2,955 500,000 SH   DFND   500,000 0 0
PAR PACIFIC HOLDINGS INC COM NEW 69888T207 18,009 877,632 SH   DFND   877,632 0 0
PAR PACIFIC HOLDINGS INC COM NEW 69888T207 249,703 12,168,744 SH   DFND 2 12,168,744 0 0
PROSHARES TR ULTRASHRT S&P500 74347B383 1,305 42,500 SH   DFND   42,500 0 0
PROSHARES TR ULTSHRT QQQ 74347B243 785 25,000 SH   DFND   25,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 4,662 35,000 SH   DFND   35,000 0 0
TRILOGY METALS INC NEW COM 89621C105 147 49,999 SH   DFND   49,999 0 0
TURQUOISE HILL RES LTD COM 900435108 624 500,000 SH   DFND   500,000 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 23,959 159,632 SH   DFND   159,632 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 6,708 160,833 SH   DFND   160,833 0 0