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
AJAX I UNIT 99/99/9999 G0190X118 1,489 120,000 SH   DFND   120,000 0 0
AVANTI ACQUISITION CORP UNIT 99/99/9999 G0682V117 1,084 100,000 SH   DFND   100,000 0 0
BLACKSTONE GROUP INC COM CL A 09260D107 6,481 100,000 SH   DFND   100,000 0 0
COVANTA HLDG CORP COM 22282E102 26,621 2,027,500 SH   DFND   2,027,500 0 0
COVANTA HLDG CORP COM 22282E102 143,402 10,921,682 SH   DFND 1 10,921,682 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 70,500 2,584,300 SH   DFND   2,584,300 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 4,505 71,096 SH   DFND   71,096 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 113,034 1,784,000 SH   DFND 3 1,784,000 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 102,052 1,610,666 SH   DFND 4 1,610,666 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 222 3,738 SH   DFND   3,738 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 71,549 1,206,968 SH   DFND 3 1,206,968 0 0
EXTERRAN CORP COM 30227H106 31,636 7,157,415 SH   DFND   7,157,415 0 0
GENIE ENERGY LTD CL B 372284208 1,391 193,000 SH   DFND   193,000 0 0
GRANITESHARES ETF TR XOUT US LRG CP 38747R603 2,847 78,961 SH   DFND   78,961 0 0
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 30,486 120,239 SH   DFND   120,239 0 0
ISHARES INC CORE MSCI EMKT 46434G103 19,595 315,843 SH   DFND   315,843 0 0
KKR & CO INC COM 48251W104 2,025 50,000 SH   DFND   50,000 0 0
NOVAGOLD RES INC COM NEW 66987E206 3,868 400,000 SH   DFND   400,000 0 0
PAR PAC HOLDINGS INC COM NEW 69888T207 12,269 877,632 SH   DFND   877,632 0 0
PAR PAC HOLDINGS INC COM NEW 69888T207 170,119 12,168,744 SH   DFND 2 12,168,744 0 0
PROSHARES TR ULTRASHRT S&P500 74347B383 526 42,500 SH   DFND   42,500 0 0
PROSHARES TR ULTSHRT QQQ 74347B243 178 25,000 SH   DFND   25,000 0 0
SPDR GOLD TR GOLD SHS 78463V107 6,243 35,000 SH   DFND   35,000 0 0
TRILOGY METALS INC NEW COM 89621C105 100 49,999 SH   DFND   49,999 0 0
TURQUOISE HILL RES LTD COM 900435207 621 50,000 SH   DFND   50,000 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 63,904 328,321 SH   DFND   328,321 0 0
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 18,353 388,745 SH   DFND   388,745 0 0
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 4,815 21,521 SH   DFND   21,521 0 0
WESCO INTL INC COM 95082P105 14,792 188,439 SH   DFND   188,439 0 0