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
3D SYSTEMS CORP Common 88554D955 1,097 40,000 SH Put SOLE   40,000 0 0
AERCAP HOLDINGS NV Common N00985106 18,333 420,000 SH   SOLE   420,000 0 0
AETNA INC Common 00817Y108 692 6,500 SH   SOLE   6,500 0 0
ALIBABA GROUP HOLDING-SP ADR Common 01609W902 29,134 350,000 SH Call DFND 1 0 350,000 0
AMERICAN AIRLINES GROUP INC Common 02376R102 792 15,000 SH   SOLE   15,000 0 0
AMERICAN INTERNATIONAL GROUP Common 026874784 16,727 305,300 SH   SOLE   305,300 0 0
AMKOR TECHNOLOGY INC Common 031652100 1,414 160,000 SH   SOLE   160,000 0 0
ANADARKO PETROLEUM CORP Common 032511107 861 10,400 SH   SOLE   10,400 0 0
ANTHEM INC Common 036752103 679 4,400 SH   SOLE   4,400 0 0
APACHE CORP Common 037411105 416 6,900 SH   SOLE   6,900 0 0
APPLE INC Common 037833900 24,886 200,000 SH Call DFND 1 0 200,000 0
APPLE INC Common 037833950 7,466 60,000 SH Put SOLE   60,000 0 0
APPLE INC Common 037833950 24,886 200,000 SH Put DFND 1 0 200,000 0
ARRIS GROUP INC Common 04270V106 214 7,400 SH   SOLE   7,400 0 0
ASANKO GOLD INC Common 04341Y105 3,803 2,722,646 SH   SOLE   2,722,646 0 0
ASHLAND INC Common 044209104 7,639 60,000 SH   SOLE   60,000 0 0
ASHLAND INC Common 044209954 7,639 60,000 SH Put SOLE   60,000 0 0
AVNET INC Common 053807103 416 9,350 SH   SOLE   9,350 0 0
AXIS CAPITAL HOLDINGS LTD Common G0692U109 242 4,700 SH   SOLE   4,700 0 0
BANK OF AMERICA CORP Common 060505104 291 18,918 SH   SOLE   18,918 0 0
BANK OF AMERICA CORP Warrant 060505153 1,924 125,000 SH   SOLE   125,000 0 0
BARRICK GOLD CORP Common 067901108 4,868 444,206 SH   SOLE   444,206 0 0
BARRICK GOLD CORP Common 067901908 3,288 300,000 SH Call SOLE   300,000 0 0
BAXTER INTERNATIONAL INC Common 071813109 241 3,525 SH   SOLE   3,525 0 0
BLUCORA INC Common 095229100 16,101 1,178,700 SH   SOLE   1,178,700 0 0
BOEING CO. Common 097023105 270 1,800 SH   SOLE   1,800 0 0
BP PLC-SPONS ADR Common 055622104 318 8,140 SH   SOLE   8,140 0 0
BOARDWALK PIPELINE COMMON UNITS Common 096627104 2,021,937 125,586,133 SH   SOLE   125,586,133 0 0
CAMECO CORP Common 13321L108 1,114 80,000 SH   SOLE   80,000 0 0
CAMECO CORP Common 13321L958 1,114 80,000 SH Put SOLE   80,000 0 0
CARPENTER TECHNOLOGY INC. Common 144285103 258 6,636 SH   SOLE   6,636 0 0
CASTLE A.M. & CO Common 148411101 47 12,824 SH   SOLE   12,824 0 0
CHENIERE ENERGY INC Common 16411R208 5,031 65,000 SH   SOLE   65,000 0 0
CIENA CORP Common 171779309 5,793 300,000 SH   SOLE   300,000 0 0
CIENA CORP Common 171779959 3,862 200,000 SH Put SOLE   200,000 0 0
CIGNA CORP Common 125509109 427 3,300 SH   SOLE   3,300 0 0
CISCO SYSTEMS INC Common 17275R102 10,872 395,000 SH   SOLE   395,000 0 0
CITIGROUP INC Common 172967424 865 16,788 SH   SOLE   16,788 0 0
CLIFFS NATURAL RESOURCES INC Common 18683K101 577 120,000 SH   SOLE   120,000 0 0
CLIFFS NATURAL RESOURCES INC Common 18683K951 481 100,000 SH Put SOLE   100,000 0 0
CLOUD PEAK ENERGY INC Common 18911Q102 8,652 1,486,600 SH   SOLE   1,486,600 0 0
CNA FINANCIAL CORP Common 126117100 10,041,914 242,382,673 SH   SOLE   242,382,673 0 0
CNO FINANCIAL GROUP INC Common 12621E103 460 26,700 SH   SOLE   26,700 0 0
COCA-COLA CO/THE Common 191216100 222 5,484 SH   SOLE   5,484 0 0
COMCAST CORP-SPECIAL CL A Common 20030N200 224 4,000 SH   SOLE   4,000 0 0
COMSTOCK MINING INC Common 205750102 183 304,225 SH   SOLE   304,225 0 0
CONSTELLATION BRANDS INC-A Common 21036P108 6,973 60,000 SH   SOLE   60,000 0 0
COVANTA HOLDING CORP Common 22282E102 617 27,500 SH   SOLE   27,500 0 0
DELTA AIR LINES INC Common 247361702 828 18,420 SH   SOLE   18,420 0 0
DEVON ENERGY CORP Common 25179M103 712 11,800 SH   SOLE   11,800 0 0
DIAMOND OFFSHORE DRILLING Common 25271C102 1,952,680 72,888,374 SH   SOLE   72,888,374 0 0
DISH NETWORK CORP-A Common 25470M109 8,758 125,000 SH   DFND 1 0 125,000 0
DOW CHEMICAL CO/THE Common 260543103 291 6,060 SH   SOLE   6,060 0 0
EATON CORP PLC Common G29183103 603 8,870 SH   SOLE   8,870 0 0
ENERGY XXI LTD Common G10082140 46 12,626 SH   SOLE   12,626 0 0
EXETER RESOURCE CORP Common 301835104 335 642,545 SH   SOLE   642,545 0 0
EXPRESS SCRIPTS HOLDING CO Common 30219G108 54,674 630,100 SH   SOLE   630,100 0 0
EXPRESS SCRIPTS HOLDING CO Common 30219G958 5,206 60,000 SH Put SOLE   60,000 0 0
EZCORP INC-CL A Common 302301106 144 15,738 SH   SOLE   15,738 0 0
FEDEX CORP Common 31428X106 910 5,500 SH   SOLE   5,500 0 0
FIRST HORIZON NATIONAL CORP Common 320517105 174 12,200 SH   SOLE   12,200 0 0
FORD MOTOR CO Common 345370860 240 14,875 SH   SOLE   14,875 0 0
FOREST CITY ENTERPRISES-CL A Common 345550107 538 21,088 SH   SOLE   21,088 0 0
FTI CONSULTING INC Common 302941109 1,873 50,000 SH   SOLE   50,000 0 0
FUELCELL ENERGY INC Common 35952H106 47 37,210 SH   SOLE   37,210 0 0
GENERAL MOTORS CO. Common 37045V100 23,267 620,455 SH   SOLE   620,455 0 0
GENERAL MOTORS CO. Warrant 37045V118 208 5,552 SH   SOLE   5,552 0 0
GENERAL MOTORS CO. Warrant 37045V126 1,530 40,800 SH   SOLE   40,800 0 0
GENERAL MOTORS CO. Common 37045V950 3,750 100,000 SH Put SOLE   100,000 0 0
GOLAR LNG LTD Common G9456A100 220 6,618 SH   SOLE   6,618 0 0
GOLD FIELDS LTD-SPONS ADR Common 38059T106 3,329 830,133 SH   SOLE   830,133 0 0
GOLDCORP INC Common 380956409 1,450 80,000 SH   SOLE   80,000 0 0
GOLDCORP INC Common 380956909 4,349 240,000 SH Call SOLE   240,000 0 0
GOLDMAN SACHS GROUP INC Common 38141G104 550 2,925 SH   SOLE   2,925 0 0
GOOGLE INC-CL A Common 38259P908 110,940 200,000 SH Call DFND 1 0 200,000 0
GRANITE REAL ESTATE INVESTMENT Common 387437114 283 8,096 SH   SOLE   8,096 0 0
HCA HOLDINGS INC Common 40412C101 1,505 20,000 SH   SOLE   20,000 0 0
HCA HOLDINGS INC Common 40412C951 6,018 80,000 SH Put SOLE   80,000 0 0
HERTZ GLOBAL HOLDINGS INC Common 42805T105 242 11,175 SH   SOLE   11,175 0 0
HERTZ GLOBAL HOLDINGS INC Common 42805T955 2,168 100,000 SH Put SOLE   100,000 0 0
HEWLETT-PACKARD CO Common 428236103 11,045 354,470 SH   SOLE   354,470 0 0
INFINERA CORP Common 45667G103 9,442 480,000 SH   SOLE   480,000 0 0
INNOSPEC INC Common 45768S105 288 6,200 SH   SOLE   6,200 0 0
INTL BUSINESS MACHINES CORP Common 459200101 289 1,800 SH   SOLE   1,800 0 0
JIVE SOFTWARE INC Common 47760A108 173 33,673 SH   SOLE   33,673 0 0
JPMORGAN CHASE & CO Common 46625H100 632 10,433 SH   SOLE   10,433 0 0
JPMORGAN CHASE & CO Common 46625H950 1,817 30,000 SH Put SOLE   30,000 0 0
KBR INC Common 48242W106 251 17,300 SH   SOLE   17,300 0 0
KRATOS DEFENSE & SECURITY Common 50077B207 55 10,000 SH   SOLE   10,000 0 0
LAMAR ADVERTISING CO-A Common 512816109 289 4,875 SH   SOLE   4,875 0 0
LIBERTY INTERACTIVE CORP-A Common 53071M104 14,887 510,000 SH   SOLE   510,000 0 0
LINCOLN NATIONAL CORP Common 534187109 891 15,500 SH   SOLE   15,500 0 0
LYONDELLBASELL INDU-CL A Common N53745100 255 2,900 SH   SOLE   2,900 0 0
MAG SILVER CORP Common 55903Q104 1,745 282,123 SH   SOLE   282,123 0 0
MARKET VECTORS JR GOLD MINER Common 57061R544 4,086 180,000 SH   SOLE   180,000 0 0
MAXWELL TECHNOLOGIES INC Common 577767106 94 11,706 SH   SOLE   11,706 0 0
METLIFE INC Common 59156R108 492 9,725 SH   SOLE   9,725 0 0
MICROSOFT CORP Common 594918104 23,416 575,964 SH   SOLE   575,964 0 0
MICROSOFT CORP Common 594918954 2,439 60,000 SH Put SOLE   60,000 0 0
MIDWAY GOLD CORP Common 598153104 43 147,620 SH   SOLE   147,620 0 0
MONSANTO CO Common 61166W951 4,502 40,000 SH Put SOLE   40,000 0 0
MORGAN STANLEY Common 617446448 254 7,129 SH   SOLE   7,129 0 0
NATL PENN BCSHS INC Common 637138108 117 10,850 SH   SOLE   10,850 0 0
NEW SENIOR INVESTMENT GROUP Common 648691103 415 24,972 SH   SOLE   24,972 0 0
NEWCASTLE INVESTMENT CORP Common 65105M603 121 24,972 SH   SOLE   24,972 0 0
NEWMONT MINING CORP Common 651639906 2,171 100,000 SH Call SOLE   100,000 0 0
NEWS CORP - CLASS A Common 65249B109 300 18,745 SH   SOLE   18,745 0 0
NEWS CORP - CLASS B Common 65249B208 180 11,341 SH   SOLE   11,341 0 0
NORDIC AMERICAN TANKERS LTD Common G65773106 244 20,520 SH   SOLE   20,520 0 0
NOVAGOLD RESOURCES INC Common 66987E206 1,729 584,242 SH   SOLE   584,242 0 0
OCCIDENTAL PETROLEUM CORP Common 674599105 938 12,848 SH   SOLE   12,848 0 0
OCEAN RIG UDW INC Common Y64354205 144 21,816 SH   SOLE   21,816 0 0
OMNICOM GROUP Common 681919106 244 3,125 SH   SOLE   3,125 0 0
ON SEMICONDUCTOR CORP Common 682189105 416 34,375 SH   SOLE   34,375 0 0
ORACLE CORP Common 68389X105 10,559 244,710 SH   SOLE   244,710 0 0
PAN AMERICAN SILVER CORP Common 697900108 118 13,486 SH   SOLE   13,486 0 0
PARK STERLING CORP Common 70086Y105 140 19,715 SH   SOLE   19,715 0 0
PFIZER INC Common 717081103 1,183 34,012 SH   SOLE   34,012 0 0
PHILLIPS 66 Common 718546954 4,716 60,000 SH Put SOLE   60,000 0 0
PMC - SIERRA INC Common 69344F106 2,598 280,000 SH   SOLE   280,000 0 0
PNC FINANCIAL SERVICES GROUP Common 693475105 251 2,689 SH   SOLE   2,689 0 0
PRETIUM RESOURCES INC Common 74139C102 3,623 719,608 SH   SOLE   719,608 0 0
REALOGY HOLDINGS CORP Common 75605Y106 9,096 200,000 SH   SOLE   200,000 0 0
REALOGY HOLDINGS CORP Common 75605Y956 4,548 100,000 SH Put SOLE   100,000 0 0
REINSURANCE GROUP OF AMERICA Common 759351604 662 7,100 SH   SOLE   7,100 0 0
ROYAL DUTCH SHELL-SPON ADR-A Common 780259206 246 4,118 SH   SOLE   4,118 0 0
RUBICON MINERALS CORP Common 780911103 1,283 1,401,817 SH   SOLE   1,401,817 0 0
SANDISK CORP Common 80004C101 270 4,250 SH   SOLE   4,250 0 0
SCHWAB CHARLES CORP Common 808513105 3,348 110,000 SH   SOLE   110,000 0 0
SCHWAB CHARLES CORP Common 808513955 3,044 100,000 SH Put SOLE   100,000 0 0
SILVER STANDARD RESOURCES Common 82823L106 1,226 270,664 SH   SOLE   270,664 0 0
SILVER WHEATON CORP Common 828336107 2,398 126,332 SH   SOLE   126,332 0 0
SPRINT CORP Common 85207U905 4,740 1,000,000 SH Call DFND 1 0 1,000,000 0
STAPLES INC Common 855030102 333 20,455 SH   SOLE   20,455 0 0
STATE STREET CORP Common 857477103 226 3,075 SH   SOLE   3,075 0 0
STILLWATER MINING CO Common 86074Q102 2,676 207,132 SH   SOLE   207,132 0 0
SUPERIOR ENERGY SERVICES INC Common 868157108 260 11,650 SH   SOLE   11,650 0 0
TECK RESOURCES LTD-CLS B Common 878742204 160 11,620 SH   SOLE   11,620 0 0
TEEKAY TANKERS LTD-CLASS A Common Y8565N102 135 23,598 SH   SOLE   23,598 0 0
TEREX CORP Common 880779103 265 9,950 SH   SOLE   9,950 0 0
THE WALT DISNEY CO. Common 254687956 4,196 40,000 SH Put SOLE   40,000 0 0
TIFFANY & CO Common 886547958 7,041 80,000 SH Put SOLE   80,000 0 0
TRAVELERS COS INC Common 89417E109 752 6,950 SH   SOLE   6,950 0 0
UBS GROUP AG Common H42097107 199 10,625 SH   SOLE   10,625 0 0
UNITED PARCEL SERVICE-CL B Common 911312106 2,908 30,000 SH   SOLE   30,000 0 0
UNITED PARCEL SERVICE-CL B Common 911312956 3,878 40,000 SH Put SOLE   40,000 0 0
VISTA GOLD CORP Common 927926303 534 1,781,485 SH   SOLE   1,781,485 0 0
VOYA FINANCIAL INC Common 929089100 265 6,150 SH   SOLE   6,150 0 0
WALTER ENERGY INC Common 93317Q105 8 12,570 SH   SOLE   12,570 0 0
WELLS FARGO & CO Common 949746101 13,600 250,000 SH   SOLE   250,000 0 0
WESTERN DIGITAL CORP Common 958102105 15,927 175,000 SH   SOLE   175,000 0 0
YAMANA GOLD INC Common 98462Y100 725 202,445 SH   SOLE   202,445 0 0
ZEBRA TECHNOLOGIES CORP-CL A Common 989207105 7,257 80,000 SH   SOLE   80,000 0 0