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
MEDTRONIC PLC COM G5960L103 2,625 35,000 SH   DFND 2 35,000 0 0
MEDTRONIC PLC COM G5960L103 13,125 175,000 SH   DFND 3 175,000 0 0
ALPHATEC HOLDINGS COM 02081G102 552 2,302,070 SH   DFND 1 2,302,070 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 7,805 190,312 SH   DFND 1 190,312 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 8,599 209,688 SH   DFND 2 209,688 0 0
ARCHER DANIELS COM 039483102 5,447 150,007 SH   DFND 1 150,007 0 0
ARCHER DANIELS COM 039483102 4,538 124,993 SH   DFND 2 124,993 0 0
ARCHER DANIELS COM 039483102 6,354 175,000 SH   DFND 3 175,000 0 0
ASTRAZENECA PLC-SPONS ADR COM 046353108 11,546 410,000 SH   DFND 1 410,000 0 0
ASTRAZENECA PLC-SPONS ADR COM 046353108 2,534 90,000 SH   DFND 2 90,000 0 0
BP PLC-SPONS ADR COM 055622104 3,320 110,000 SH   DFND 1 110,000 0 0
BP PLC-SPONS ADR COM 055622104 8,752 290,000 SH   DFND 2 290,000 0 0
BANK OF AMERICA COM 060505104 5,507 407,356 SH   DFND 1 407,356 0 0
BANK OF AMERICA COM 060505104 7,742 572,645 SH   DFND 2 572,645 0 0
BANK OF AMERICA COM 060505104 4,326 320,000 SH   DFND 3 320,000 0 0
BANK OF AMERICA CORP PFD 060505682 2,276 2,000 SH   DFND 1 2,000 0 0
BANK OF NEW YORK MELLON CORP COM 064058100 7,366 200,000 SH   DFND 1 200,000 0 0
BANK OF NEW YORK MELLON CORP COM 064058100 3,683 100,000 SH   DFND 2 100,000 0 0
BANK OF NEW YORK MELLON CORP COM 064058100 3,683 100,000 SH   DFND 3 100,000 0 0
BASIC ENERGY SERVICES INC COM 06985P100 205 74,280 SH   DFND 1 74,280 0 0
BASIC ENERGY SERVICES INC COM 06985P100 51 18,570 SH   DFND 2 18,570 0 0
CELESTICA INC COM 15101Q108 5,490 500,000 SH   DFND 1 500,000 0 0
CELESTICA INC COM 15101Q108 4,391 399,900 SH   DFND 2 399,900 0 0
CELESTICA INC COM 15101Q108 873 79,463 SH   DFND 3 79,463 0 0
CITIGROUP INC COM 172967424 25 600 SH   DFND 0 600 0 0
CITIGROUP INC COM 172967424 7,532 180,400 SH   DFND 1 180,400 0 0
CITIGROUP INC COM 172967424 4,968 119,000 SH   DFND 2 119,000 0 0
CITIGROUP INC COM 172967424 4,175 100,000 SH   DFND 3 100,000 0 0
COMMUNITY HEALTH SYSTEMS INC COM 203668108 128 6,942 SH   DFND 0 6,942 0 0
COMMUNITY HEALTH SYSTEMS INC COM 203668108 8,175 441,652 SH   DFND 1 441,652 0 0
COMMUNITY HEALTH SYSTEMS INC COM 203668108 4,601 248,594 SH   DFND 2 248,594 0 0
COMMUNITY HEALTH SYSTEMS INC COM 203668108 771 41,652 SH   DFND 3 41,652 0 0
COMMUNITY HEALTH SYSTEMS CVR COM 203668116 1 100,000 SH   DFND 0 100,000 0 0
COMMUNITY HEALTH SYSTEMS CVR COM 203668116 4 600,000 SH   DFND 1 600,000 0 0
COMMUNITY HEALTH SYSTEMS CVR COM 203668116 4 700,000 SH   DFND 2 700,000 0 0
COMMUNITY HEALTH SYSTEMS CVR COM 203668116 4 600,000 SH   DFND 3 600,000 0 0
DHI GROUP INC COM 23331S100 2,015 249,681 SH   DFND 1 249,681 0 0
DHI GROUP INC COM 23331S100 504 62,420 SH   DFND 2 62,420 0 0
EGAIN COMMUNICATIONS CORP COM 28225C806 76 21,355 SH   DFND 3 21,355 0 0
ERICSSON (LM) TEL-SP ADR COM 294821608 5,376 536,000 SH   DFND 1 536,000 0 0
ERICSSON (LM) TEL-SP ADR COM 294821608 5,657 564,000 SH   DFND 2 564,000 0 0
ERICSSON (LM) TEL-SP ADR COM 294821608 4,012 400,000 SH   DFND 3 400,000 0 0
EVERBANK FINANCIAL CORP COM 29977G102 13,184 873,709 SH   DFND 0 873,709 0 0
GLAXOSMITHKLINE PLC-ADR COM 37733W105 11,395 281,000 SH   DFND 1 281,000 0 0
GLAXOSMITHKLINE PLC-ADR COM 37733W105 4,825 119,000 SH   DFND 2 119,000 0 0
JP MORGAN CHASE & CO COM 46625H100 6,727 113,600 SH   DFND 1 113,600 0 0
JP MORGAN CHASE & CO COM 46625H100 2,369 40,000 SH   DFND 2 40,000 0 0
JP MORGAN CHASE & CO COM 46625H100 2,748 46,400 SH   DFND 3 46,400 0 0
JABIL CIRCUIT INC COM 466313103 4,129 214,286 SH   DFND 0 214,286 0 0
JABIL CIRCUIT INC COM 466313103 4,174 216,600 SH   DFND 1 216,600 0 0
JABIL CIRCUIT INC COM 466313103 5,186 269,114 SH   DFND 2 269,114 0 0
LUMOS NETWORKS CORP COM 550283105 287 22,358 SH   DFND 1 22,358 0 0
LUMOS NETWORKS CORP COM 550283105 72 5,589 SH   DFND 2 5,589 0 0
MERCK & CO. INC. COM 58933Y105 5,291 100,000 SH   DFND 1 100,000 0 0
MERCK & CO. INC. COM 58933Y105 10,582 200,000 SH   DFND 2 200,000 0 0
MORGAN STANLEY DEAN WITTER COM 617446448 5,252 210,000 SH   DFND 1 210,000 0 0
MORGAN STANLEY DEAN WITTER COM 617446448 4,752 190,000 SH   DFND 2 190,000 0 0
MORGAN STANLEY DEAN WITTER COM 617446448 2,263 90,472 SH   DFND 3 90,472 0 0
NEWTEK BUSINESS SERVICES INCE - RES COM 652526203 4 310 SH   DFND 0 310 0 0
NEWTEK BUSINESS SERVICES INCE - RES COM 652526203 182 14,528 SH   DFND 1 14,528 0 0
NEWTEK BUSINESS SERVICES INCE - RES COM 652526203 1 117 SH   DFND 3 117 0 0
PFIZER INC COM 717081103 584 19,700 SH   DFND 0 19,700 0 0
PFIZER INC COM 717081103 11,166 376,725 SH   DFND 1 376,725 0 0
PFIZER INC COM 717081103 106 3,575 SH   DFND 2 3,575 0 0
ROYAL DUTCH SHELL PLC COM 780259206 4,845 100,000 SH   DFND 1 100,000 0 0
ROYAL DUTCH SHELL PLC COM 780259206 4,845 100,000 SH   DFND 3 100,000 0 0
ST JUDE MEDICAL COM 790849103 13,750 250,000 SH   DFND 1 250,000 0 0
SANOFI-AVENTIS-ADR COM 80105N105 12,048 300,000 SH   DFND 1 300,000 0 0
SANOFI-AVENTIS-ADR COM 80105N105 6,024 150,000 SH   DFND 2 150,000 0 0
SANMINA CORP COM 801056102 2,390 102,233 SH   DFND 2 102,233 0 0
STAGE STORES COM 85254C305 0 2 SH   DFND 0 2 0 0
STAGE STORES COM 85254C305 133 16,489 SH   DFND 3 16,489 0 0
STAPLES INC COM 855030102 7,721 700,000 SH   DFND 1 700,000 0 0
STAPLES INC COM 855030102 5,515 500,000 SH   DFND 2 500,000 0 0
SYMANTEC CORP COM 871503108 1,838 100,000 SH   DFND 1 100,000 0 0
SYMANTEC CORP COM 871503108 5,514 300,000 SH   DFND 2 300,000 0 0
SYMANTEC CORP COM 871503108 5,514 300,000 SH   DFND 3 300,000 0 0
TOTAL SA-SPON ADR COM 89151E109 9,084 200,000 SH   DFND 1 200,000 0 0
TOTAL SA-SPON ADR COM 89151E109 4,542 100,000 SH   DFND 2 100,000 0 0
WESTERN UNION CO COM 959802109 3,858 200,000 SH   DFND 1 200,000 0 0
WESTERN UNION CO COM 959802109 9,645 500,000 SH   DFND 2 500,000 0 0
WILLIAMS COMPANIES COM 969457100 5,625 350,000 SH   DFND 2 350,000 0 0