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
AIR LEASE CORP CL A 00912X302 6,101 196,302 SH   DFND 1, 2, 3, 4 196,302 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 13,635 540,000 SH   DFND 1, 2, 3, 4 540,000 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 7,035 162,100 SH   DFND 1, 2, 3, 4 162,100 0 0
BLACKSTONE MTG TR INC NOTE 5.250%12/0 09257WAA8 10,491 10,000,000 PRN   DFND 1, 2, 3, 4 10,000,000 0 0
CHESAPEAKE ENERGY CORP NOTE 2.500% 5/1 165167CA3 23,884 23,680,000 PRN   DFND 1, 2, 3, 4 23,680,000 0 0
COMMUNITYONE BANCORP COM 20416Q108 13,410 1,051,764 SH   DFND 1, 2, 3, 4 1,051,764 0 0
DENDREON CORP NOTE 2.875% 1/1 24823QAC1 44,522 70,144,000 PRN   DFND 1, 2, 3, 4 70,144,000 0 0
EXTERRAN HLDGS INC NOTE 4.250% 6/1 30225XAA1 63,108 42,259,000 PRN   DFND 1, 2, 3, 4 42,259,000 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 25,403 673,100 SH Call DFND 1, 2, 3, 4 673,100 0 0
HEALTH CARE REIT INC PFD PER CON I 42217K601 5,221 101,300 SH   DFND 1, 2, 3, 4 101,300 0 0
HOLOGIC INC COM 436440101 17,623 788,500 SH   DFND 1, 2, 3, 4 788,500 0 0
INTEL CORP COM 458140100 677 26,100 SH   DFND 1, 2, 3, 4 26,100 0 0
JARDEN CORP COM 471109108 13,798 224,900 SH   DFND 1, 2, 3, 4 224,900 0 0
LAM RESEARCH CORP COM 512807108 14,203 260,846 SH   DFND 1, 2, 3, 4 260,846 0 0
LIFEPOINT HOSPITALS INC COM 53219L109 1,686 31,900 SH   DFND 1, 2, 3, 4 31,900 0 0
MASIMO CORP COM 574795100 4,385 150,000 SH   DFND 1, 2, 3, 4 150,000 0 0
MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 130,351 74,999,000 PRN   DFND 1, 2, 3, 4 74,999,000 0 0
NEW YORK CMNTY CAP TR V UNIT 11/01/2051 64944P307 26,630 542,087 PRN   DFND 1, 2, 3, 4 542,087 0 0
NMI HLDGS INC CL A 629209305 28,667 2,251,923 SH   DFND 1, 2, 3, 4 2,251,923 0 0
NXSTAGE MEDICAL INC COM 67072V103 630 63,000 SH   DFND 1, 2, 3, 4 63,000 0 0
OLD REP INTL CORP COM 680223104 777 45,000 SH   DFND 1, 2, 3, 4 45,000 0 0
PRICELINE COM INC COM NEW 741503403 65,076 55,984 SH   DFND 1, 2, 3, 4 55,984 0 0
STATE BK FINL CORP COM 856190103 29,141 1,602,036 SH   DFND 1, 2, 3, 4 1,602,036 0 0
VOLCANO CORPORATION COM 928645100 5,567 254,800 SH   DFND 1, 2, 3, 4 254,800 0 0
XILINX INC COM 983919101 4,523 98,500 SH   DFND 1, 2, 3, 4 98,500 0 0
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 12,605 2,024,956 SH   DFND 1, 2, 3, 4 2,024,956 0 0