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
AARONS INCCOM PAR $0.5000253530019,456800,000SH DFND1, 2, 3, 4, 5, 6800,00000
AOL INC.COM00184X10586,2141,918,000SH DFND1, 2, 3, 4, 5, 61,918,00000
BABCOCK & WILCOX CO NEWCOM05615F10290,6853,275,000SH DFND1, 2, 3, 4, 5, 63,275,00000
CALGON CARBON CORPCOM12960310648,9352,525,000SH DFND1, 2, 3, 4, 5, 62,525,00000
CURTISS WRIGHT CORPCOM23156110142,848650,000SH DFND1, 2, 3, 4, 5, 6650,00000
DARDEN RESTAURANTS INCCOM237194105598,73711,635,000SH DFND1, 2, 3, 4, 5, 611,635,00000
DOLLAR GEN CORP NEWCOM2566771059,167150,000SH DFND1, 2, 3, 4, 5, 6150,00000
DSP GROUP INCCOM23332B10611,9431,346,500SH DFND1, 2, 3, 4, 5, 61,346,50000
ENERGIZER HLDGS INCCOM29266R10846,204375,000SH DFND1, 2, 3, 4, 5, 6375,00000
ENTROPIC COMMUNICATIONS INCCOM29384R1052,128800,000SH DFND1, 2, 3, 4, 5, 6800,00000
FAMILY DLR STORES INCCOM30700010923,172300,000SH DFND1, 2, 3, 4, 5, 6300,00000
INTEGRATED DEVICE TECHNOLOGYCOM45811810677,3584,850,000SH DFND1, 2, 3, 4, 5, 64,850,00000
ISHARES TRRUSSELL 2000 ETF4642876555,68652,000SH DFND1, 2, 3, 4, 5, 652,00000
ISHARES TRRUSSELL 2000 ETF464287655414,8523,793,800SHPutDFND1, 2, 3, 4, 5, 63,793,80000
KRATON PERFORMANCE POLYMERSCOM50077C10622,6191,270,000SH DFND1, 2, 3, 4, 5, 61,270,00000
LSB INDS INCCOM50216010426,783750,000SH DFND1, 2, 3, 4, 5, 6750,00000
MEADWESTVACO CORPCOM583334107382,7899,350,000SH DFND1, 2, 3, 4, 5, 69,350,00000
MICREL INCCOM59479310181,5876,782,000SH DFND1, 2, 3, 4, 5, 66,782,00000
OFFICE DEPOT INCCOM676220106238,10546,323,913SH DFND1, 2, 3, 4, 5, 646,323,91300
QUANTUM CORPCOM DSSG74790620429,80625,695,000SH DFND1, 2, 3, 4, 5, 625,695,00000
QUANTUM CORPNOTE 4.500% 11/1747906AJ430,74330,550,000PRN DFND1, 2, 3, 4, 5, 60030,550,000
REALD INCCOM75604L10546,3824,950,000SH DFND1, 2, 3, 4, 5, 64,950,00000
TESSERA TECHNOLOGIES INCCOM88164L100126,2554,750,000SH DFND1, 2, 3, 4, 5, 64,750,00000
TITAN INTL INC ILLCOM88830M1025,910500,000SH DFND1, 2, 3, 4, 5, 6500,00000
UNWIRED PLANET INC NEWCOM91531F10319,91010,704,282SH DFND1, 2, 3, 4, 5, 610,704,28200
WAUSAU PAPER CORPCOM94331510159,4757,500,000SH DFND1, 2, 3, 4, 5, 67,500,00000
XO GROUP INCCOM9837721045,941530,000SH DFND1, 2, 3, 4, 5, 6530,00000
YAHOO INCCOM984332106314,7707,724,420SH DFND1, 2, 3, 4, 5, 67,724,42000