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
AMERICAN AIRLS GROUP INC CALL 02376R902 3,734 236,800 SH Call DFND 1, 2 236,800 0 0
AMERICAN AIRLS GROUP INC PUT 02376R952 12,403 786,500 SH Put DFND 1, 2 786,500 0 0
ASCENDIS PHARMA A S SPONSORED ADR 04351P101 3,866 23,183 SH   DFND 1, 2 23,183 0 0
CARNIVAL CORP CALL 143658900 1,083 50,000 SH Call DFND 1, 2 50,000 0 0
CHATHAM LODGING TR COM 16208T102 7,768 719,261 SH   DFND 1, 2 719,261 0 0
CINEMARK HOLDINGS INC CALL 17243V902 871 50,000 SH Call DFND 1, 2 50,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,411 35,091 SH   DFND 1, 2 35,091 0 0
DELTA AIR LINES INC DEL CALL 247361902 8,042 200,000 SH Call DFND 1, 2 200,000 0 0
LADDER CAP CORP CL A 505743104 7,352 751,765 SH   DFND 1, 2 751,765 0 0
SOUTHWEST AIRLS CO COM 844741108 1,462 31,366 SH   DFND 1, 2 31,366 0 0
NORWEGIAN CRUISE LINE HLDG L CALL G66721904 4,768 187,500 SH Call DFND 1, 2 187,500 0 0
NEWMARK GROUP INC CL A 65158N102 559 76,706 SH   DFND 1, 2 76,706 0 0
NEW YORK MTG TR INC COM PAR $.02 649604501 7,867 2,131,969 SH   DFND 1, 2 2,131,969 0 0
DAVE & BUSTERS ENTMT INC CALL 238337909 6,070 202,200 SH Call DFND 1, 2 202,200 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 4,012 12,788 SH   DFND 1, 2 12,788 0 0
SABRE CORP CALL 78573M904 1,202 100,000 SH Call DFND 1, 2 100,000 0 0
SEAWORLD ENTMT INC CALL 81282V900 12,623 399,600 SH Call DFND 1, 2 399,600 0 0
SCHLUMBERGER LTD CALL 806857908 33,182 1,520,000 SH Call DFND 1, 2 1,520,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 4,018 10,746 SH   DFND 1, 2 10,746 0 0
TRANSDIGM GROUP INC COM 893641100 2,457 3,971 SH   DFND 1, 2 3,971 0 0
TIDEWATER INC NEW *W EXP 07/31/202 88642R117 30 66,892 SH   DFND 1, 2 66,892 0 0
TIDEWATER INC NEW *W EXP 07/31/202 88642R125 25 72,315 SH   DFND 1, 2 72,315 0 0
TPG RE FIN TR INC COM 87266M107 8,128 765,369 SH   DFND 1, 2 765,369 0 0
UNITED RENTALS INC COM 911363109 1,934 8,340 SH   DFND 1, 2 8,340 0 0
VIVINT SMART HOME INC COM CL A 928542109 3,488 168,110 SH   DFND 1, 2 168,110 0 0
WELLS FARGO CO NEW CALL 949746901 3,018 100,000 SH Call DFND 1, 2 100,000 0 0
EXANTAS CAP CORP COM NEW 30068N105 638 160,000 SH   DFND 1, 2 160,000 0 0