ALTISOURCE ASSET MGMT CORP COM 02153X108 640 8500 SH DFND 1 8500 0 0 AMC ENTMT HLDGS INC CL A COM 00165C104 786 25000 SH SOLE 25000 0 0 AMERICAN ELEC PWR INC COM 025537101 1163 17321 SH SOLE 17321 0 0 AT&T INC COM 00206R102 1208 29068 SH SOLE 29068 0 0 AXALTA COATING SYS LTD COM G0750C108 5529 171700 SH SOLE 135700 0 0 AXAR ACQUISITION CORP *W EXP 12/31/202 05455L110 5 75000 SH SOLE 75000 0 0 BANK AMER CORP COM 060505104 755 32000 SH SOLE 32000 0 0 BOJANGLES INC COM 097488100 1398 68207 SH SOLE 68207 0 0 C&J ENERGY SVCS INC NEW COM 12674R100 9263 272037 SH SOLE 272037 0 0 CATERPILLAR INC DEL COM 149123101 1179 12713 SH SOLE 12713 0 0 CHESAPEAKE ENERGY CORP COM 165167107 1188 200000 SH SOLE 200000 0 0 CHUBB LIMITED COM H1467J104 1036 7600 SH SOLE 7600 0 0 CLIPPER RLTY INC COM 18885T306 9496 740740 SH SOLE 740740 0 0 COCA COLA CO COM 191216100 1021 24067 SH SOLE 24067 0 0 COEUR MNG INC COM NEW 192108504 3798 470000 SH SOLE 470000 0 0 CONOCOPHILLIPS COM 20825C104 724 14524 SH SOLE 14524 0 0 CONTINENTAL RESOURCES INC COM 212015101 454 10000 SH SOLE 10000 0 0 CROWN CASTLE INTL CORP NEW COM 22822V101 1098 11630 SH SOLE 11630 0 0 DEERE & CO COM 244199105 1187 10902 SH SOLE 10902 0 0 DOLLAR TREE INC COM 256746108 1569 20000 SH SOLE 20000 0 0 DOW CHEM CO COM 260543103 1284 20204 SH SOLE 20204 0 0 DUKE ENERGY CORP NEW COM NEW 26441C204 1079 13158 SH SOLE 13158 0 0 DU PONT E I DE NEMOURS & CO COM 263534109 1489 18537 SH SOLE 18537 0 0 LILLY ELI & CO COM 532457108 1187 14107 SH SOLE 14107 0 0 EMERSON ELEC CO COM 291011104 1020 17034 SH SOLE 17034 0 0 ENTEGRIS INC COM 29362U104 1170 50000 SH SOLE 50000 0 0 EXXON MOBIL CORP COM 30231G102 895 10909 SH SOLE 10909 0 0 FACEBOOK INC CL A 30303M102 1754 12345 SH SOLE 12345 0 0 GASTAR EXPL INC NEW COM 36729W202 31 20000 SH SOLE 20000 0 0 GENERAL ELECTRIC CO COM 369604103 1181 39646 SH SOLE 39646 0 0 GENERAL MLS INC COM 370334104 1120 18985 SH SOLE 18985 0 0 GENERAL MTRS CO COM 37045V100 442 12500 SH DFND 1 12500 0 0 GORES HLDGS II INC UNIT 99/99/9999 382867208 864 84000 SH SOLE 84000 0 0 HELMERICH & PAYNE INC COM 423452101 2663 40000 SH SOLE 40000 0 0 HOSTESS BRANDS INC CL A 44109J106 2381 150000 SH SOLE 150000 0 0 INDEPENDENCE CONTRACT DRIL I COM 453415309 3175 576246 SH SOLE 576246 0 0 INTERXION HOLDING N.V SHS N47279109 4656 117700 SH SOLE 92200 0 0 INTEVAC INC COM 461148108 1475 118000 SH SOLE 118000 0 0 ISHARES TR MBS ETF 464288588 12355 115952 SH SOLE 115952 0 0 ISHARES TR 1-3 YR CR BD ETF 464288646 119 1135 SH SOLE 1135 0 0 JOHNSON & JOHNSON COM 478160104 1244 9989 SH SOLE 9989 0 0 KIMBERLY CLARK CORP COM 494368103 1184 8997 SH SOLE 8997 0 0 KINDRED BIOSCIENCES INC COM 494577109 1763 250000 SH SOLE 250000 0 0 KRAFT HEINZ CO COM 500754106 1405 15471 SH SOLE 15471 0 0 LAMB WESTON HLDGS INC COM 513272104 2947 70060 SH SOLE 55060 0 0 LOCKHEED MARTIN CORP COM 539830109 1354 5061 SH SOLE 5061 0 0 LONESTAR RES US INC CL A VTG 54240F103 1084 214214 SH SOLE 214214 0 0 LOWES COS INC COM 548661107 2466 30000 SH SOLE 30000 0 0 MCDONALDS CORP COM 580135101 1374 10603 SH SOLE 10603 0 0 MERCK & CO INC COM 58933Y105 1086 17096 SH SOLE 17096 0 0 MGM GROWTH PPTYS LLC CL A COM 55303A105 676 25000 SH SOLE 25000 0 0 MICRON TECHNOLOGY INC COM 595112103 1214 42000 SH SOLE 20000 0 0 MICROSOFT CORP COM 594918104 1317 20000 SH SOLE 20000 0 0 MOBILEIRON INC COM NEW 60739U204 204 47000 SH SOLE 47000 0 0 MOHAWK INDS INC COM 608190104 4670 20350 SH SOLE 16000 0 0 MONARCH CASINO & RESORT INC COM 609027107 600 20300 SH SOLE 20300 0 0 NATIONAL GEN HLDGS CORP COM 636220303 146217 6153928 SH DFND 1 6153928 0 0 NATIONAL GEN HLDGS CORP COM 636220303 145922 6141502 SH SOLE 6141502 0 0 NCI BUILDING SYS INC COM NEW 628852204 721 42040 SH SOLE 42040 0 0 NEWMONT MINING CORP COM 651639106 6460 196000 SH SOLE 196000 0 0 NOODLES & CO CL A 65540B105 230 40000 SH SOLE 40000 0 0 NORFOLK SOUTHERN CORP COM 655844108 1363 12177 SH SOLE 12177 0 0 NUCOR CORP COM 670346105 1286 21535 SH SOLE 21535 0 0 OMNICOM GROUP INC COM 681919106 1111 12885 SH SOLE 12885 0 0 PATTERSON UTI ENERGY INC COM 703481101 6189 255000 SH SOLE 255000 0 0 PAYCHEX INC COM 704326107 1219 20691 SH SOLE 20691 0 0 PEPSICO INC COM 713448108 2381 21290 SH SOLE 21290 0 0 PFIZER INC COM 717081103 995 29084 SH SOLE 29084 0 0 PROCTER AND GAMBLE CO COM 742718109 1049 11676 SH SOLE 11676 0 0 REGAL ENTMT GROUP CL A 758766109 2540 112500 SH SOLE 112500 0 0 S&P GLOBAL INC COM 78409V104 693 5300 SH SOLE 5300 0 0 SHERWIN WILLIAMS CO COM 824348106 3666 11820 SH SOLE 7000 0 0 SILVER WHEATON CORP COM 828336107 5602 268800 SH SOLE 268800 0 0 SM ENERGY CO COM 78454L100 456 19000 SH SOLE 19000 0 0 SPDR S&P 500 ETF TR TR UNIT 78462F103 8689 36860 SH SOLE 36860 0 0 STANLEY BLACK & DECKER INC COM 854502101 3322 25000 SH SOLE 25000 0 0 STATE NATL COS INC COM 85711T305 14664 1018356 SH DFND 1 1018356 0 0 STATE NATL COS INC COM 85711T305 6843 475180 SH SOLE 475180 0 0 SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 3094 126700 SH SOLE 126700 0 0 SUPERIOR ENERGY SVCS INC COM 868157108 3536 247987 SH SOLE 247987 0 0 SYSCO CORP COM 871829107 1307 25165 SH SOLE 25165 0 0 WENDYS CO COM 95058W100 817 60000 SH SOLE 60000 0 0 THRESHOLD PHARMACEUTICAL INC COM NEW 885807206 57 100000 SH DFND 1 100000 0 0 UNITED PARCEL SERVICE INC CL B 911312106 1046 9751 SH SOLE 9751 0 0 U S SILICA HLDGS INC COM 90346E103 2486 51800 SH SOLE 51800 0 0 VALSPAR CORP COM 920355104 1109 10000 SH SOLE 10000 0 0 VERIZON COMMUNICATIONS INC COM 92343V104 1000 20515 SH SOLE 20515 0 0 VERSUM MATLS INC COM 92532W103 3978 129994 SH SOLE 95994 0 0 WAL-MART STORES INC COM 931142103 993 13774 SH SOLE 13774 0 0 DISNEY WALT CO COM DISNEY 254687106 567 5000 SH SOLE 5000 0 0 WASTE MGMT INC DEL COM 94106L109 1397 19164 SH SOLE 19164 0 0 WELLTOWER INC 6.50% PFD PREPET 95040Q203 309 4360 SH DFND 1 4360 0 0 WHITEWAVE FOODS CO COM 966244105 1336 23800 SH SOLE 23800 0 0 WHITING PETE CORP NEW COM 966387102 2838 300000 SH SOLE 300000 0 0 WPX ENERGY INC COM 98212B103 140 10430 SH DFND 1 10430 0 0