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
AMPCO-PITTSBURGH CORPCOM032037103803260,000SH DFND01,02260,00000
ARGAN INCCOM04010E1093,785100,000SH DFND01,02100,00000
BANK N S HALIFAXCOM06414910712,296247,100SH DFND01,02247,10000
BEMIS INCCOM0814371051,21626,500SH DFND01,0226,50000
BERKSHIRE HATHAWAY INC DELCL A0846701083061SH DFND01,02100
BLACKBERRY LTDCOM09228F103331,83046,724,700SH DFND01,0246,724,70000
BLACKBERRY LTDDEBT 3.750% 11/13/20C10268AC1522,892500,000,000PRN DFND01,02500,000,00000
CENTURYLINK INCCOM15670010629,6801,959,100SH DFND01,021,959,10000
CRAY INCCOM NEW2252233043,670170,000SH DFND01,02170,00000
DESTINATION MATERNITY CORPCOM25065D10010838,085SH DFND01,0238,08500
FREIGHTCAR AMER INCCOM3570231001,338200,000SH DFND01,02200,00000
GARRETT MOTION INCCOM36650510599881,000SH DFND01,0281,00000
GENERAL ELECTRIC COCOM36960410310,5291,390,900SH DFND01,021,390,90000
GENERAL MTRS COCOM37045V10012,576375,965SH DFND01,02375,96500
HELMERICH & PAYNE INCCOM42345210116,488344,000SH DFND01,02344,00000
INDEPENDENCE CONTRACT DRIL ICOM4534153091,244400,000SH DFND01,02400,00000
JACOBS ENGR GROUP INC DELCOM4698141073,27456,000SH DFND01,0256,00000
JOHNSON & JOHNSONCOM47816010418,946146,800SH DFND01,02146,80000
K12 INCCOM48273U10282133,133SH DFND01,0233,13300
KENNEDY-WILSON HLDGS INCCOM489398107242,06113,322,009SH DFND01,0213,322,00900
KULICKE & SOFFA INDS INCCOM5012421012,635130,000SH DFND01,02130,00000
MCDERMOTT INTL INCCOM5800377034,280655,400SH DFND01,02655,40000
MICRON TECHNOLOGY INCCOM5951121031,52348,000SH DFND01,0248,00000
NETEASE INCSPONSORED ADR64110W1021,8838,000SH DFND01,028,00000
NORTHWEST PIPE COCOM6677461013,725160,000SH DFND01,02160,00000
PACIFIC BIOSCIENCES CALIF INCOM69404D1081,182160,000SH DFND01,02160,00000
POSCOSPONSORED ADR69348310910,382189,000SH DFND01,02189,00000
QUARTERHILL INCCOM747713105779800,000SH DFND01,02800,00000
RESOLUTE FST PRODS INCCOM76117W109242,24730,548,190SH DFND01,0230,548,19000
SEASPAN CORPSHSY75638109302,58338,693,461SH DFND01,0238,693,46100
SHIRE PLCSPONSORED ADR82481R1061,2897,400SH DFND01,027,40000
SIGNATURE BK NEW YORK NYCOM82669G1042,96128,800SH DFND01,0228,80000
TAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADR8740391001,07029,000SH DFND01,0229,00000
U S SILICA HLDGS INCCOM90346E1031,373135,000SH DFND01,02135,00000