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
ACCURAY INC COM 004397105 13,980 1,606,897 SH   DFND 1,2 0 1,606,897 0
ACTAVIS PLC SHS G0083B108 14,213 84,600 SH   DFND 1,2 0 84,600 0
AFFILIATED MANAGERS GROUP COM 008252108 2,407 11,100 SH   DFND 1,2 0 11,100 0
ALLEGHANY CORP DEL COM 017175100 3,740 9,350 SH   DFND 1,2 0 9,350 0
ALLERGAN INC COM 018490102 16,433 147,938 SH   DFND 1,2 0 147,938 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 4,930 43,700 SH   DFND 1,2 0 43,700 0
AMEREN CORP COM 023608102 5,982 165,432 SH   DFND 1,2 0 165,432 0
AMERICAN ELEC PWR INC COM 025537101 32,068 686,103 SH   DFND 1,2 0 686,103 0
AMERICAN FINL GROUP INC OHIO COM 025932104 1,051 18,200 SH   DFND 1,2 0 18,200 0
ANADARKO PETE CORP COM 032511107 16,994 214,243 SH   DFND 1,2 0 214,243 0
ARCH CAP GROUP LTD ORD G0450A105 3,513 58,853 SH   DFND 1,2 0 58,853 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 1,385 29,791 SH   DFND 1,2 0 29,791 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 2,081 31,918 SH   DFND 1,2 0 31,918 0
BAKER HUGHES INC COM 057224107 11,413 206,533 SH   DFND 1,2 0 206,533 0
BANK HAWAII CORP COM 062540109 12,348 208,786 SH   DFND 1,2 0 208,786 0
BANKUNITED INC COM 06652K103 6,165 187,270 SH   DFND 1,2 0 187,270 0
BARRETT BILL CORP COM 06846N104 3,830 143,000 SH   DFND 1,2 0 143,000 0
BAXTER INTL INC COM 071813109 1,869 26,868 SH   DFND 1,2 0 26,868 0
BB&T CORP COM 054937107 11,485 307,757 SH   DFND 1,2 0 307,757 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,161 35,100 SH   DFND 1,2 0 35,100 0
BEST BUY INC COM 086516101 1,057 26,500 SH   DFND 1,2 0 26,500 0
BIO RAD LABS INC CL A 090572207 14,432 116,752 SH   DFND 1,2 0 116,752 0
BLOCK H & R INC COM 093671105 6,090 209,707 SH   DFND 1,2 0 209,707 0
BOSTON PROPERTIES INC COM 101121101 497 4,950 SH   DFND 1,2 0 4,950 0
BRUKER CORP COM 116794108 24,499 1,239,177 SH   DFND 1,2 0 1,239,177 0
BRUKER CORP COM 116794108 5,931 300,000 SH Call DFND 1,2 0 0 300,000
CAPITAL ONE FINL CORP COM 14040H105 613 8,000 SH   DFND 1,2 0 8,000 0
CAREFUSION CORP COM 14170T101 927 23,273 SH   DFND 1,2 0 23,273 0
CARRIZO OIL & GAS INC COM 144577103 10,582 236,354 SH   DFND 1,2 0 236,354 0
CBL & ASSOC PPTYS INC COM 124830100 1,653 92,028 SH   DFND 1,2 0 92,028 0
CHENIERE ENERGY INC COM NEW 16411R208 10,902 252,831 SH   DFND 1,2 0 252,831 0
CHEVRON CORP NEW COM 166764100 2,423 19,400 SH   DFND 1,2 0 19,400 0
CHUBB CORP COM 171232101 5,199 53,800 SH   DFND 1,2 0 53,800 0
CITY NATL CORP COM 178566105 8,296 104,724 SH   DFND 1,2 0 104,724 0
CME GROUP INC COM 12572Q105 4,657 59,350 SH   DFND 1,2 0 59,350 0
CMS ENERGY CORP COM 125896100 86,399 3,227,462 SH   DFND 1,2 0 3,227,462 0
CONCHO RES INC COM 20605P101 9,378 86,833 SH   DFND 1,2 0 86,833 0
CONTINENTAL RESOURCES INC COM 212015101 3,488 31,000 SH   DFND 1,2 0 31,000 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 1,989 83,957 SH   DFND 1,2 0 83,957 0
COUSINS PPTYS INC COM 222795106 1,237 120,100 SH   DFND 1,2 0 120,100 0
COVANCE INC COM 222816100 8,278 94,006 SH   DFND 1,2 0 94,006 0
D R HORTON INC COM 23331A109 4,985 223,331 SH   DFND 1,2 0 223,331 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 22,593 356,520 SH   DFND 1,2 0 356,520 0
DCT INDUSTRIAL TRUST INC COM 233153105 1,979 277,550 SH   DFND 1,2 0 277,550 0
DEL FRISCOS RESTAURANT GROUP COM 245077102 3,057 129,710 SH   DFND 1,2 0 129,710 0
DENTSPLY INTL INC NEW COM 249030107 20,266 418,021 SH   DFND 1,2 0 418,021 0
DIAMONDROCK HOSPITALITY CO COM 252784301 1,268 109,762 SH   DFND 1,2 0 109,762 0
DISCOVER FINL SVCS COM 254709108 2,271 40,593 SH   DFND 1,2 0 40,593 0
DOLLAR GEN CORP NEW COM 256677105 519 8,600 SH   DFND 1,2 0 8,600 0
DTE ENERGY CO COM 233331107 33,874 510,226 SH   DFND 1,2 0 510,226 0
DUKE REALTY CORP COM NEW 264411505 680 45,200 SH   DFND 1,2 0 45,200 0
DUNKIN BRANDS GROUP INC COM 265504100 985 20,435 SH   DFND 1,2 0 20,435 0
E TRADE FINANCIAL CORP COM NEW 269246401 2,139 108,931 SH   DFND 1,2 0 108,931 0
EDISON INTL COM 281020107 3,276 70,756 SH   DFND 1,2 0 70,756 0
ENERGEN CORP COM 29265N108 10,249 144,860 SH   DFND 1,2 0 144,860 0
ENTERGY CORP NEW COM 29364G103 14,259 225,370 SH   DFND 1,2 0 225,370 0
ENVISION HEALTHCARE HLDGS IN COM 29413U103 9,760 274,786 SH   DFND 1,2 0 274,786 0
EOG RES INC COM 26875P101 32,225 192,000 SH   DFND 1,2 0 192,000 0
EQT CORP COM 26884L109 22,168 246,916 SH   DFND 1,2 0 246,916 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 158 6,000 SH   DFND 1,2 0 6,000 0
FAMILY DLR STORES INC COM 307000109 1,950 30,015 SH   DFND 1,2 0 30,015 0
FIRST HORIZON NATL CORP COM 320517105 11,009 944,974 SH   DFND 1,2 0 944,974 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 9,642 184,174 SH   DFND 1,2 0 184,174 0
FIRSTENERGY CORP COM 337932107 24,233 734,766 SH   DFND 1,2 0 734,766 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 367 18,703 SH   DFND 1,2 0 18,703 0
FOREST CITY ENTERPRISES INC CL A 345550107 284 14,849 SH   DFND 1,2 0 14,849 0
FORUM ENERGY TECHNOLOGIES IN COM 34984V100 5,426 192,000 SH   DFND 1,2 0 192,000 0
FRANKLIN RES INC COM 354613101 1,085 18,800 SH   DFND 1,2 0 18,800 0
FRESH MKT INC COM 35804H106 2,101 51,867 SH   DFND 1,2 0 51,867 0
FULTON FINL CORP PA COM 360271100 2,032 155,300 SH   DFND 1,2 0 155,300 0
HALLIBURTON CO COM 406216101 17,500 344,821 SH   DFND 1,2 0 344,821 0
HANCOCK HLDG CO COM 410120109 9,675 263,768 SH   DFND 1,2 0 263,768 0
HASBRO INC COM 418056107 559 10,166 SH   DFND 1,2 0 10,166 0
HCA HOLDINGS INC COM 40412C101 23,593 494,516 SH   DFND 1,2 0 494,516 0
HEALTH CARE REIT INC COM 42217K106 812 15,150 SH   DFND 1,2 0 15,150 0
HEALTHCARE RLTY TR COM 421946104 1,578 74,069 SH   DFND 1,2 0 74,069 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 1,202 42,000 SH   DFND 1,2 0 42,000 0
HOME DEPOT INC COM 437076102 1,963 23,846 SH   DFND 1,2 0 23,846 0
HOME PROPERTIES INC COM 437306103 231 4,305 SH   DFND 1,2 0 4,305 0
HUMANA INC COM 444859102 1,376 13,331 SH   DFND 1,2 0 13,331 0
HUNTSMAN CORP COM 447011107 26,394 1,072,923 SH   DFND 1,2 0 1,072,923 0
ICON PLC SHS G4705A100 22,194 549,128 SH   DFND 1,2 0 549,128 0
ICON PLC SHS G4705A100 8,083 200,000 SH Call DFND 1,2 0 0 200,000
ILLUMINA INC COM 452327109 11,550 104,436 SH   DFND 1,2 0 104,436 0
INTEGRYS ENERGY GROUP INC COM 45822P105 2,495 45,849 SH   DFND 1,2 0 45,849 0
INTERCONTINENTAL HTLS GRP PL SPON ADR NEW 12 45857P400 318 9,500 SH   DFND 1,2 0 9,500 0
INVESCO LTD SHS G491BT108 2,707 74,370 SH   DFND 1,2 0 74,370 0
JACK IN THE BOX INC COM 466367109 768 15,360 SH   DFND 1,2 0 15,360 0
KEYCORP NEW COM 493267108 1,431 106,641 SH   DFND 1,2 0 106,641 0
KILROY RLTY CORP COM 49427F108 1,090 21,717 SH   DFND 1,2 0 21,717 0
KOHLS CORP COM 500255104 732 12,902 SH   DFND 1,2 0 12,902 0
LENNAR CORP CL A 526057104 970 24,508 SH   DFND 1,2 0 24,508 0
LIBERTY PPTY TR SH BEN INT 531172104 3,330 98,304 SH   DFND 1,2 0 98,304 0
LIFEPOINT HOSPITALS INC COM 53219L109 10,040 190,012 SH   DFND 1,2 0 190,012 0
LINCOLN NATL CORP IND COM 534187109 1,617 31,326 SH   DFND 1,2 0 31,326 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 7,195 89,625 SH   DFND 1,2 0 89,625 0
M/I HOMES INC COM 55305B101 3,027 118,948 SH   DFND 1,2 0 118,948 0
MARKET VECTORS ETF TR OIL SVCS ETF 57060U191 24,721 514,273 SH   DFND 1,2 0 514,273 0
MARRIOTT INTL INC NEW CL A 571903202 2,751 55,750 SH   DFND 1,2 0 55,750 0
MARSH & MCLENNAN COS INC COM 571748102 12,629 261,138 SH   DFND 1,2 0 261,138 0
MBIA INC COM 55262C100 1,194 100,000 SH   DFND 1,2 0 100,000 0
MCDONALDS CORP COM 580135101 2,100 21,640 SH   DFND 1,2 0 21,640 0
MCKESSON CORP COM 58155Q103 13,405 83,055 SH   DFND 1,2 0 83,055 0
MEDASSETS INC COM 584045108 5,393 271,982 SH   DFND 1,2 0 271,982 0
MERITAGE HOMES CORP COM 59001A102 759 15,820 SH   DFND 1,2 0 15,820 0
METHANEX CORP COM 59151K108 23,036 388,851 SH   DFND 1,2 0 388,851 0
METLIFE INC COM 59156R108 5,996 111,200 SH   DFND 1,2 0 111,200 0
MGIC INVT CORP WIS COM 552848103 6,718 796,000 SH   DFND 1,2 0 796,000 0
MGIC INVT CORP WIS COM 552848103 5,908 700,000 SH Call DFND 1,2 0 0 700,000
MORGAN STANLEY COM NEW 617446448 2,477 78,984 SH   DFND 1,2 0 78,984 0
NABORS INDUSTRIES LTD SHS G6359F103 7,233 425,730 SH   DFND 1,2 0 425,730 0
NATIONAL HEALTH INVS INC COM 63633D104 785 14,000 SH   DFND 1,2 0 14,000 0
NATIONAL RETAIL PPTYS INC COM 637417106 992 32,700 SH   DFND 1,2 0 32,700 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 3,152 117,000 SH   DFND 1,2 0 117,000 0
NEXTERA ENERGY INC COM 65339F101 60,064 701,523 SH   DFND 1,2 0 701,523 0
NORTHEAST UTILS COM 664397106 40,960 966,255 SH   DFND 1,2 0 966,255 0
OCCIDENTAL PETE CORP DEL COM 674599105 18,026 189,544 SH   DFND 1,2 0 189,544 0
OCEANEERING INTL INC COM 675232102 11,817 149,814 SH   DFND 1,2 0 149,814 0
OGE ENERGY CORP COM 670837103 13,592 400,951 SH   DFND 1,2 0 400,951 0
OIL STS INTL INC COM 678026105 2,699 26,537 SH   DFND 1,2 0 26,537 0
ONE LIBERTY PPTYS INC COM 682406103 101 5,000 SH   DFND 1,2 0 5,000 0
PACIFIC DRILLING SA LUXEMBOU REG SHS L7257P106 3,259 284,400 SH   DFND 1,2 0 284,400 0
PORTLAND GEN ELEC CO COM NEW 736508847 8,154 270,000 SH   DFND 1,2 0 270,000 0
PPL CORP COM 69351T106 15,754 523,573 SH   DFND 1,2 0 523,573 0
PRINCIPAL FINL GROUP INC COM 74251V102 2,076 42,100 SH   DFND 1,2 0 42,100 0
PRIVATEBANCORP INC COM 742962103 3,000 103,686 SH   DFND 1,2 0 103,686 0
RADIAN GROUP INC COM 750236101 10,717 759,000 SH   DFND 1,2 0 759,000 0
RADIAN GROUP INC COM 750236101 7,132 505,100 SH Call DFND 1,2 0 0 505,100
RE MAX HLDGS INC CL A 75524W108 670 20,887 SH   DFND 1,2 0 20,887 0
REGIONAL MGMT CORP COM 75902K106 991 29,196 SH   DFND 1,2 0 29,196 0
REGIONS FINL CORP NEW COM 7591EP100 5,816 588,038 SH   DFND 1,2 0 588,038 0
RETAIL PPTYS AMER INC CL A 76131V202 2,015 158,400 SH   DFND 1,2 0 158,400 0
ROSS STORES INC COM 778296103 2,098 28,000 SH   DFND 1,2 0 28,000 0
ROWAN COMPANIES PLC SHS CL A G7665A101 9,682 273,807 SH   DFND 1,2 0 273,807 0
SABRA HEALTH CARE REIT INC COM 78573L106 131 5,000 SH   DFND 1,2 0 5,000 0
SAFEWAY INC COM NEW 786514208 6,514 200,000 SH Call DFND 1,2 0 0 200,000
SCANA CORP NEW COM 80589M102 1,898 40,446 SH   DFND 1,2 0 40,446 0
SELECT INCOME REIT COM SH BEN INT 81618T100 701 26,227 SH   DFND 1,2 0 26,227 0
SEMPRA ENERGY COM 816851109 63 702 SH   DFND 1,2 0 702 0
SIMON PPTY GROUP INC NEW COM 828806109 1,567 10,300 SH   DFND 1,2 0 10,300 0
SM ENERGY CO COM 78454L100 10,144 122,052 SH   DFND 1,2 0 122,052 0
SOUTHWESTERN ENERGY CO COM 845467109 5,498 139,785 SH   DFND 1,2 0 139,785 0
SPIRIT RLTY CAP INC NEW COM 84860W102 1,069 108,703 SH   DFND 1,2 0 108,703 0
ST JUDE MED INC COM 790849103 24,194 390,537 SH   DFND 1,2 0 390,537 0
STANDARD PAC CORP NEW COM 85375C101 2,998 331,300 SH   DFND 1,2 0 331,300 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 1,197 15,063 SH   DFND 1,2 0 15,063 0
SUMMIT HOTEL PPTYS COM 866082100 3,874 430,493 SH   DFND 1,2 0 430,493 0
SUNESIS PHARMACEUTICALS INC COM NEW 867328601 2,166 456,871 SH   DFND 1,2 0 456,871 0
SUNTRUST BKS INC COM 867914103 7,624 207,128 SH   DFND 1,2 0 207,128 0
SUPERIOR ENERGY SVCS INC COM 868157108 13,890 522,000 SH   DFND 1,2 0 522,000 0
SYNOVUS FINL CORP COM 87161C105 780 216,660 SH   DFND 1,2 0 216,660 0
TCF FINL CORP COM 872275102 4,487 276,145 SH   DFND 1,2 0 276,145 0
TD AMERITRADE HLDG CORP COM 87236Y108 2,406 78,512 SH   DFND 1,2 0 78,512 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 2,029 32,613 SH   DFND 1,2 0 32,613 0
TIDEWATER INC COM 886423102 14,613 246,545 SH   DFND 1,2 0 246,545 0
TIME WARNER CABLE INC COM 88732J207 339 2,500 SH   DFND 1,2 0 2,500 0
TRAVELERS COMPANIES INC COM 89417E109 7,734 85,423 SH   DFND 1,2 0 85,423 0
U S SILICA HLDGS INC COM 90346E103 5,866 171,981 SH   DFND 1,2 0 171,981 0
ULTRA PETROLEUM CORP COM 903914109 10,428 481,671 SH   DFND 1,2 0 481,671 0
UNIVERSAL HLTH SVCS INC CL B 913903100 25,267 310,943 SH   DFND 1,2 0 310,943 0
UNUM GROUP COM 91529Y106 10,836 308,900 SH   DFND 1,2 0 308,900 0
VISA INC COM CL A 92826C839 6,047 27,158 SH   DFND 1,2 0 27,158 0
VITAMIN SHOPPE INC COM 92849E101 274 5,271 SH   DFND 1,2 0 5,271 0
WEATHERFORD INTERNATIONAL LT REG SHS H27013103 21,940 1,416,413 SH   DFND 1,2 0 1,416,413 0
WEBSTER FINL CORP CONN COM 947890109 5,795 185,862 SH   DFND 1,2 0 185,862 0
WELLS FARGO & CO NEW COM 949746101 4,459 98,217 SH   DFND 1,2 0 98,217 0
WESTAR ENERGY INC COM 95709T100 4,098 127,372 SH   DFND 1,2 0 127,372 0
WHITEWAVE FOODS CO COM CL A 966244105 1,147 50,000 SH   DFND 1,2 0 50,000 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 381 7,500 SH   DFND 1,2 0 7,500 0
WRIGHT MED GROUP INC COM 98235T107 8,049 262,110 SH   DFND 1,2 0 262,110 0
XCEL ENERGY INC COM 98389B100 911 32,618 SH   DFND 1,2 0 32,618 0
XL GROUP PLC SHS G98290102 11,954 375,447 SH   DFND 1,2 0 375,447 0
YUM BRANDS INC COM 988498101 666 8,802 SH   DFND 1,2 0 8,802 0
ZIONS BANCORPORATION COM 989701107 9,146 305,274 SH   DFND 1,2 0 305,274 0