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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ALLY FINL INCCOM02005N10035,0981,845,314SH DFND1 2 3 4 71,845,31400
ALLY FINL INCCOM02005N10033,3621,754,002SH DFND1 2 3 41,754,00200
AMERICAN CAP LTDCOM02503Y10327,4621,532,547SH DFND1 2 3 41,532,54700
AMERICAN CAP LTDCOM02503Y10332,6331,821,030SH DFND1 2 3 4 71,821,03000
CHARTER COMMUNICATIONS INC NCL A16119P1081,0043,487SH DFND1 2 3 43,48700
CHARTER COMMUNICATIONS INC NCL A16119P10839,594137,517SH DFND1 2 3 4 5137,51700
CONSUMER PORTFOLIO SVCS INCCOM2105021001,629318,074SH DFND1 2 3 4 5318,07400
DIAMOND OFFSHORE DRILLING INCOM25271C10254830,975SH DFND1 2 3 430,97500
DRIVE SHACK INCCOM262077100650172,848SH DFND1 2 3 4172,84800
FORTRESS TRANS INFRST INVS LCOM REP LTD LIAB34960P1019,957748,644SH DFND1 2 3 4748,64400
GENERAL GROWTH PPTYS INC NEWCOM37002310380332,160SH DFND1 2 3 432,16000
HOWARD HUGHES CORPCOM44267D1073523,081SH DFND1 2 3 43,08100
HRG GROUP INCCOM40434J100513,39832,994,740SH DFND1 2 3 4 5 632,994,74000
INNOCOLL HLDGS PLCSHSG4783X1052,8194,085,469SH DFND1 2 3 4 64,085,46900
INTRAWEST RESORTS HLDGS INCCOM46090K109482,63327,038,250SH DFND1 2 3 427,038,25000
INVENTERGY GLOBAL INCCOM NEW46123X4093850,000SH DFND1 2 3 450,00000
MARATHON PATENT GROUP INCCOM NEW56585W203231134,409SH DFND1 2 3 4134,40900
NATIONSTAR MTG HLDGS INCCOM63861C1091,229,97268,104,736SH DFND1 2 3 468,104,73600
NETLIST INCCOM64118P1091,0921,070,654SH DFND1 2 3 41,070,65400
NEW MEDIA INVT GROUP INCCOM64704V1061,19774,870SH DFND1 2 3 474,87000
NEW RESIDENTIAL INVT CORPCOM NEW64828T2018,152518,545SH DFND1 2 3 4518,54500
NEW SR INVT GROUP INCCOM6486911031,692172,848SH DFND1 2 3 4172,84800
NII HLDGS INCCOM PAR $0.00162913F5082,2751,058,012SH DFND1 2 31,058,01200
NRG ENERGY INCCOM NEW62937750803SH DFND1 2 3300
ONEMAIN HLDGS INCCOM68268W1031,625,90673,437,500SH DFND1 2 3 473,437,50000
OPUS BK IRVINE CALIFCOM68400010250,1631,669,336SH DFND1 2 3 41,669,33600
OPUS BK IRVINE CALIFCOM684000102102,8113,421,339SH DFND1 2 3 4 63,421,33900
PARATEK PHARMACEUTICALS INCCOM6993743026,680433,804SH DFND1 2 3 4433,80400
SITO MOBILE LTDCOM NEW82988R2031,322358,260SH DFND1 2 3 4358,26000
STATE NATL COS INCCOM85711T30548,5103,500,000SH DFND1 2 3 4 5 73,500,00000
U S CONCRETE INCCOM NEW90333L2013815,815SH DFND1 2 35,81500
VANGUARD INDEX FDSREIT ETF92290855311,793142,900SHPutDFND1 2 3 4 5142,90000
VERINT SYS INCCOM92343X1004122SH DFND1 2 312200
WILLBROS GROUP INC DELCOM96920310814745,350SH DFND1 2 3 445,35000
WMIH CORPCOM92936P1002515,916SH DFND1 2 315,91600