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
ADVANCE AUTO PARTS INCCOM00751Y106132,4441,631,688SH DFND101,631,6880
AGILENT TECHNOLOGIES INCCOM00846U10164,1401,500,000SH DFND101,500,0000
AMERICAN INTL GROUP INCCOM NEW026874784525,03711,745,789SH DFND1011,745,7890
AMERICAN RLTY CAP PPTYS INCCOM02917T10469,0504,524,887SH DFND104,524,8870
APPLE INCCOM0378331009,91325,000SHCallDFND1025,0000
CAESARS ENTMT CORPCOM1276861035,519402,839SH DFND10402,8390
CALPINE CORPCOM NEW13134730471,8943,386,423SH DFND103,386,4230
CHESAPEAKE ENERGY CORPCOM165167107121,6325,968,200SHPutDFND105,968,2000
COMMONWEALTH REITCOM SH BEN INT203233101164,1527,100,000SH DFND107,100,0000
ENERGY XXI (BERMUDA) LTDUSD UNSR SHSG1008214045,7092,061,291SH DFND102,061,2910
FEDEX CORPCOM31428X106384,4623,900,000SH DFND103,900,0000
HESS CORPCOM42809H107212,7683,200,000SH DFND103,200,0000
HESS CORPCOM42809H10716,623250,000SHCallDFND10250,0000
HILLSHIRE BRANDS COCOM43258910939,1701,184,100SH DFND101,184,1000
HILLSHIRE BRANDS COCOM43258910941,3501,250,000SHCallDFND101,250,0000
ISHARES TRDJ US REAL EST464287739465,0107,000,000SHPutDFND107,000,0000
JOHNSON & JOHNSONCOM47816010433,391388,897SH DFND10388,8970
LAMAR ADVERTISING COCL A512815101273,4256,301,577SH DFND106,301,5770
MGIC INVT CORP WISCOM55284810325,3094,169,464SH DFND104,169,4640
NOBLE CORPORATION BAARCOMH5833N10356,9341,515,000SH DFND101,515,0000
NORTH AMERN ENERGY PARTNERSCOM65684410719,4524,598,466SH DFND104,598,4660
NRG ENERGY INCCOM NEW629377508178,7876,696,138SH DFND106,696,1380
PENNEY J C INCCOM708160106204,96012,000,000SH DFND1012,000,0000
SPDR S&P 500 ETF TRTR UNIT78462F103649,8944,051,200SHCallDFND104,051,2000
UNIVERSAL AMERN CORP NEWCOM91338E10168,4797,702,936SH DFND107,702,9360
YPF SOCIEDAD ANONIMASPON ADR CL D98424510029,7002,012,199SH DFND102,012,1990