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
***CORSICANTO LTD NOTE 3.500% 1/1 220480AC1 2,337 2,150,000 PRN   DFND 2 0 0 2,150,000
ACCESS MIDSTREAM PARTNERS L P UNIT 00434L109 295 6,100 SH   DFND 3 6,100 0 0
ACCURAY INCORPORATED NOTE 3.500% 2/0 004397AC9 1,501 1,000,000 PRN   DFND 2 0 0 1,000,000
AIR LEASE CORP CL A 00912X302 138 5,005 SH   DFND 3 5,005 0 0
AK STEEL HOLDING CORPORATION NOTE 5.000%11/1 001546AP5 956 1,015,000 PRN   DFND 2 0 0 1,015,000
AMERICAN RESIDENTIAL PPTYS INC COM 02927E303 886 1,250,000 SH   DFND 2 1,250,000 0 0
ARKANSAS BEST CORP-DEL COM 040790107 578 22,500 SH   DFND 2 22,500 0 0
ARRAY BIOPHARMA INC COM 04269X105 706 113,500 SH   DFND 2 113,500 0 0
ATLAS ENERGY LP COM UNITS LP 04930A104 224 4,100 SH   DFND 3 4,100 0 0
BUCKEYE PARTNERS LP UNIT LTD PARTN 118230101 262 4,000 SH   DFND 3 4,000 0 0
CAPITALSOURCE INC COM 14055X102 1,307 110,000 SH   DFND 2 110,000 0 0
CHENIERE ENERGY PARTNERS L P COM UNIT 16411Q101 187 7,100 SH   DFND 3 7,100 0 0
CHESAPEAKE ENERGY CORP NOTE 2.500% 5/1 165167BZ9 965 982,000 PRN   DFND 2 0 0 982,000
DCP MIDSTREAM PARTNERS LP COM UT LTD PTN 23311P100 175 3,525 SH   DFND 3 3,525 0 0
DEVELOPERS DIVERSIFIED RLTY NOTE 1.750%11/1 251591AX1 1,134 1,000,000 PRN   DFND 2 0 0 1,000,000
EL PASO PIPELINE PARTNERS L P COM UNIT LPI 283702108 156 3,700 SH   DFND 3 3,700 0 0
ENERGY TRANSFER PARTNERS L P UNIT LTD PARTN 29273R109 302 5,800 SH   DFND 3 5,800 0 0
ENPRO INDS INC DBCV 3.938%10/1 29355XAB3 1,030 561,000 PRN   DFND 2 0 0 561,000
EPR PROPERTIES PFD C CNV 5.75% 26884U208 648 30,400 PRN   DFND 2 0 0 30,400
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 241 4,900 SH   DFND 3 4,900 0 0
EV ENERGY PARTNERS L P COM UNITS 26926V107 219 5,900 SH   DFND 3 5,900 0 0
EXTERRAN HLDGS INC NOTE 4.250% 6/1 30225XAA1 2,889 2,318,000 PRN   DFND 2 0 0 2,318,000
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 2,110 1,822,000 PRN   DFND 2 0 0 1,822,000
HORSEHEAD HLDG CORP NOTE 3.800% 7/0 440694AB3 43 40,000 PRN   DFND 3 40,000 0 0
HUDSON CITY BANCORP INC COM 443683107 452 50,000 SH   DFND 2 50,000 0 0
KINDER MORGAN ENERGY PARTNERS UT LTD PARTNER 494550106 295 3,700 SH   DFND 3 3,700 0 0
LIFE TECHNOLOGIES CORPORATION COM 53217V109 2,993 40,000 SH   DFND 2 40,000 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 108 1,500 SH   DFND 3 1,500 0 0
NBH HOLDINGS CORP CL A 633707104 21,565 1,049,906 SH   DFND 3 1,049,906 0 0
NBH HOLDINGS CORP CL A 633707104 1,282 62,422 SH   DFND 2 0 0 62,422
NEWPARK RESOURCES INC NOTE 4.000%10/0 651718AC2 2,487 1,800,000 PRN   DFND 2 0 0 1,800,000
ONEOK PARTNERS L P UNIT LTD PARTN 68268N103 286 5,400 SH   DFND 3 5,400 0 0
PAA NATURAL GAS STORAGE LP COM UNIT LTD 693139107 1,397 60,000 SH   DFND 2 60,000 0 0
PLAINS ALL AMERICAN PIPELINE UNIT LTD PARTN 726503105 269 5,100 SH   DFND 3 5,100 0 0
POWERSHARES SENIOR LOAN SENIOR LN PORT 73936Q769 4,906 198,800 SH   DFND 2 198,800 0 0
PUT ABFS 12/21/13 20 PUT 040790957 16 225 PRN Put DFND 2 0 0 225
PUT NTLS 12/21/13 12.50 PUT 67020Q955 9 200 PRN Put DFND 3 0 0 200
ROSE ROCK MIDSTREAM L P COM U REP LTD 777149105 192 6,000 SH   DFND 3 6,000 0 0
RTI INTL METALS INC NOTE 3.000%12/0 74973WAA5 2,100 1,846,000 PRN   DFND 2 0 0 1,846,000
STANDARD PACIFIC CORP NEW PUT 85375C101 717 90,600 PRN Put DFND 2 0 0 90,600
STARWOOD PROPERTY TRUST NOTE 4.000% 1/1 ADDED 85571BAB1 2,187 2,113,000 PRN   DFND 2 0 0 2,113,000
STERLING FINANCIAL CORPORATION COM NEW 859319303 1,433 50,000 SH   DFND 2 50,000 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 170 3,300 SH   DFND 3 3,300 0 0
TESORO LOGISTICS LP COM UNIT LP 88160T107 176 3,034 SH   DFND 3 3,034 0 0
WALTER INVESTMENT MANAGEMENT NOTE 4.50% 11/0 93317WAA0 1,048 1,000,000 PRN   DFND 2 0 0 1,000,000
WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 120 2,000 SH   DFND 3 2,000 0 0
WILLIAMS PARTNERS L P COM UNIT L P 96950F104 349 6,600 SH   DFND 3 6,600 0 0