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 3,212 100,000 SH   DFND 1 100,000 0 0
CITRIX SYS INC COM 177376100 2,805 35,700 SH   DFND 1 35,700 0 0
COMMUNITYONE BANCORP COM 20416Q108 6,703 504,757 SH   DFND 1 504,757 0 0
CTRIP COM INTL LTD NOTE 1.250%10/1 22943FAD2 28,842 22,430,000 PRN   DFND 1 22,430,000 0 0
HERBALIFE LTD COM USD SHS G4412G101 246 4,000 SH   DFND 1 4,000 0 0
HERBALIFE LTD NOTE 2.000% 8/1 42703MAB9 17,288 17,900,000 PRN   DFND 1 17,900,000 0 0
ILLUMINA INC COM 452327109 3,664 22,600 SH   DFND 1 22,600 0 0
KINDER MORGAN INC DEL COM 49456B101 1,895 106,100 SH   DFND 1 106,100 0 0
NEW YORK CMNTY CAP TR V UNIT 11/01/2051 64944P307 24,120 485,137 PRN   DFND 1 485,137 0 0
NMI HLDGS INC CL A 629209305 9,280 1,837,713 SH   DFND 1 1,837,713 0 0
NRG YIELD INC CL A NEW 62942X306 12,523 922,814 SH   DFND 1 922,814 0 0
OLD REP INTL CORP COM 680223104 14,586 797,900 SH   DFND 1 797,900 0 0
QIHOO 360 TECHNOLOGY CO LTD NOTE 2.500% 9/1 74734MAB5 17,901 18,000,000 PRN   DFND 1 18,000,000 0 0
STATE BK FINL CORP COM 856190103 6,838 346,062 SH   DFND 1 346,062 0 0
STONEGATE MTG CORP COM 86181Q300 3,664 638,391 SH   DFND 1 638,391 0 0
WELLTOWER INC 6.50% PFD PREPET 95040Q203 21,982 355,306 PRN   DFND 1 355,306 0 0
WORKDAY INC NOTE 0.750% 7/1 98138HAC5 19,393 17,000,000 PRN   DFND 1 17,000,000 0 0