The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it 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 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 |
| AETNA INC NEW | COM | 00817Y108 | 413,429 | 6,506,600 | SH | DFND | 1 | 6,506,600 | 0 | 0 | |
| AGNICO EAGLE MINES LTD | COM | 008474108 | 27,867 | 1,011,880 | SH | DFND | 1 | 1,011,880 | 0 | 0 | |
| ALLIED NEVADA GOLD CORP | COM | 019344100 | 9,734 | 1,502,184 | SH | DFND | 1 | 1,502,184 | 0 | 0 | |
| ALPHA NATURAL RESOURCES INC | COM | 02076X102 | 20,960 | 4,000,000 | SH | DFND | 1 | 4,000,000 | 0 | 0 | |
| AMC NETWORKS INC | CL A | 00164V103 | 323,096 | 4,945,600 | SH | DFND | 1 | 4,945,600 | 0 | 0 | |
| AMERICAN CAP LTD | COM | 02503Y103 | 47,952 | 3,784,700 | SH | DFND | 1 | 3,784,700 | 0 | 0 | |
| ANGLOGOLD ASHANTI LTD | SPONSORED ADR | 035128206 | 399,478 | 27,935,500 | SH | DFND | 1 | 27,935,500 | 0 | 0 | |
| ANGLOGOLD ASHANTI HLDGS FIN | MAND BD CV 13 | 03512Q206 | 51,896 | 3,035,100 | SH | DFND | 1 | 3,035,100 | 0 | 0 | |
| BANK OF AMERICA CORPORATION | * W Exp 01/16/2019 | 060505146 | 147,847 | 27,078,152 | SH | DFND | 1 | 27,078,152 | 0 | 0 | |
| BANK OF AMERICA CORPORATION | * W Exp 10/28/2018 | 060505153 | 9,096 | 11,812,853 | SH | DFND | 1 | 11,812,853 | 0 | 0 | |
| BELO CORP | COM SER A | 080555105 | 73,415 | 5,262,700 | SH | DFND | 1 | 5,262,700 | 0 | 0 | |
| BOISE INC | COM | 09746Y105 | 57,690 | 6,755,300 | SH | DFND | 1 | 6,755,300 | 0 | 0 | |
| BUCKEYE TECHNOLOGIES INC | COM | 118255108 | 44,292 | 1,195,800 | SH | DFND | 1 | 1,195,800 | 0 | 0 | |
| CAESARS ENTMT CORP | COM | 127686103 | 164,683 | 12,020,651 | SH | DFND | 1 | 12,020,651 | 0 | 0 | |
| CAPITAL ONE FINL CORP | *W EXP 11/14/2018 | 14040H139 | 88,014 | 3,632,434 | SH | DFND | 1 | 3,632,434 | 0 | 0 | |
| CABLEVISION SYS CORP | CL A NY CABLVS | 12686C109 | 353,220 | 21,000,000 | SH | DFND | 1 | 21,000,000 | 0 | 0 | |
| CITIGROUP INC | COM NEW | 172967424 | 47,970 | 1,000,000 | SH | DFND | 1 | 1,000,000 | 0 | 0 | |
| CLEARWIRE CORP NEW | CL A | 18538Q105 | 44,647 | 8,938,300 | SH | DFND | 1 | 8,938,300 | 0 | 0 | |
| COBALT INTL ENERGY INC | COM | 19075F106 | 372,482 | 14,018,900 | SH | DFND | 1 | 14,018,900 | 0 | 0 | |
| COBALT INTL ENERGY INC | NOTE 2.625%12/001/2019 | 19075FAA4 | 53,031 | 50,000,000 | SH | DFND | 1 | 50,000,000 | 0 | 0 | |
| COLONY FINL INC | NOTE 5.000% 4/15/2023 ADDED | 19624RAA4 | 25,438 | 25,000,000 | SH | DFND | 1 | 25,000,000 | 0 | 0 | |
| CNO FINL GROUP INC | COM | 12621E103 | 174,446 | 13,460,377 | SH | DFND | 1 | 13,460,377 | 0 | 0 | |
| COOPER TIRE & RUBR CO | COM | 216831107 | 165,850 | 5,000,000 | SH | DFND | 1 | 5,000,000 | 0 | 0 | |
| DELPHI AUTOMOTIVE PLC | SHS | G27823106 | 81,104 | 1,600,000 | SH | DFND | 1 | 1,600,000 | 0 | 0 | |
| DEX MEDIA INC NEW | COM | 25213A107 | 39,201 | 2,231,132 | SH | DFND | 1 | 2,231,132 | 0 | 0 | |
| ELAN PLC | ADR | 284131208 | 72,114 | 5,100,000 | SH | DFND | 1 | 5,100,000 | 0 | 0 | |
| EQUINIX INC | COM NEW | 29444U502 | 184,720 | 1,000,000 | SH | DFND | 1 | 1,000,000 | 0 | 0 | |
| FAIRPOINT COMMUNICATIONS INC | COM NEW | 305560302 | 1,098 | 131,500 | SH | DFND | 1 | 131,500 | 0 | 0 | |
| FAMILY DLR STORES INC | COM | 307000109 | 463,811 | 7,443,600 | SH | DFND | 1 | 7,443,600 | 0 | 0 | |
| FELCOR LODGING TR INC | COM | 31430F101 | 29,550 | 5,000,000 | SH | DFND | 1 | 5,000,000 | 0 | 0 | |
| FIDELITY NATIONAL FINANCIAL | CL A | 31620R105 | 59,525 | 2,500,000 | SH | DFND | 1 | 2,500,000 | 0 | 0 | |
| FREEPORT-MCMORAN COPPER & GO | COM | 35671D857 | 428,120 | 15,505,982 | SH | DFND | 1 | 15,505,982 | 0 | 0 | |
| GARDNER DENVER INC | COM | 365558105 | 75,421 | 1,003,200 | SH | DFND | 1 | 1,003,200 | 0 | 0 | |
| GENWORTH FINL INC | COM CL A | 37247D106 | 102,690 | 9,000,000 | SH | DFND | 1 | 9,000,000 | 0 | 0 | |
| GOLD FIELDS LTD NEW | SPONSORED ADR | 38059T106 | 34,281 | 6,529,748 | SH | DFND | 1 | 6,529,748 | 0 | 0 | |
| GRIFOLS S A | SPONSORED ADR | 398438408 | 563,513 | 19,786,279 | SH | DFND | 1 | 19,786,279 | 0 | 0 | |
| HARTFORD FINL SVCS GROUP INC | COM | 416515104 | 184,551 | 5,968,670 | SH | DFND | 1 | 5,968,670 | 0 | 0 | |
| HARTFORD FINL SVCS GROUP INC | W EXP 6/26/2019 | 416515120 | 7,621 | 348,000 | SH | DFND | 1 | 348,000 | 0 | 0 | |
| HCA HOLDINGS INC | COM | 40412C101 | 122,745 | 3,403,919 | SH | DFND | 1 | 3,403,919 | 0 | 0 | |
| HESS CORP | COM | 42809H107 | 309,085 | 4,648,600 | SH | DFND | 1 | 4,648,600 | 0 | 0 | |
| HILLSHIRE BRANDS CO | COM | 432589109 | 99,554 | 3,009,500 | SH | DFND | 1 | 3,009,500 | 0 | 0 | |
| HOWARD HUGHES CORP | COM | 44267D107 | 35,308 | 315,000 | SH | DFND | 1 | 315,000 | 0 | 0 | |
| INTERDIGITAL INC | COM | 45867G101 | 133,030 | 2,979,400 | SH | DFND | 1 | 2,979,400 | 0 | 0 | |
| INTEROIL CORP | COM | 460951106 | 120,649 | 1,735,700 | SH | DFND | 1 | 1,735,700 | 0 | 0 | |
| INTERNATIONAL TOWER HILL MIN | COM | 46050R102 | 5,585 | 8,908,000 | SH | DFND | 1 | 8,908,000 | 0 | 0 | |
| IAMGOLD CORP | COM | 450913108 | 16,731 | 3,863,912 | SH | DFND | 1 | 3,863,912 | 0 | 0 | |
| JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 | 66,187 | 963,000 | SH | DFND | 1 | 963,000 | 0 | 0 | |
| KAMADA LTD | SHS ADDED | M6240T109 | 8,370 | 750,000 | SH | DFND | 1 | 750,000 | 0 | 0 | |
| KODIAK OIL & GAS CORP | COM | 50015Q100 | 132,980 | 14,958,400 | SH | DFND | 1 | 14,958,400 | 0 | 0 | |
| LEAP WIRELESS INTL INC | COM NEW | 521863308 | 52,494 | 7,800,000 | SH | DFND | 1 | 7,800,000 | 0 | 0 | |
| LIFE TECHNOLOGIES CORP | COM | 53217V109 | 95,048 | 1,284,433 | SH | DFND | 1 | 1,284,433 | 0 | 0 | |
| MEAD JOHNSON NUTRITION CO | COM | 582839106 | 75,894 | 957,900 | SH | DFND | 1 | 957,900 | 0 | 0 | |
| MGIC INVT CORP WIS | COM | 552848103 | 100,531 | 16,562,000 | SH | DFND | 1 | 16,562,000 | 0 | 0 | |
| MGIC INVT CORP WIS | NOTE 2.000% 4/0 | 552848AE3 | 169,875 | 150,000,000 | SH | DFND | 1 | 99,999,999 | 0 | 0 | |
| MGM RESORTS INTERNATIONAL | COM | 552953101 | 502,520 | 34,000,000 | SH | DFND | 1 | 34,000,000 | 0 | 0 | |
| M & T BK CORP | COM | 55261F104 | 46,957 | 420,200 | SH | DFND | 1 | 420,200 | 0 | 0 | |
| MYLAN INC | COM | 628530107 | 376,682 | 12,139,300 | SH | DFND | 1 | 12,139,300 | 0 | 0 | |
| NATIONAL BK HLDGS CORP | CL A | 633707104 | 42,851 | 2,175,155 | SH | DFND | 1 | 2,175,155 | 0 | 0 | |
| NOVAGOLD RES INC | COM NEW | 66987E206 | 79,606 | 35,839,014 | SH | DFND | 1 | 35,839,014 | 0 | 0 | |
| NOVACOPPER INC | COM | 66988K102 | 10,347 | 5,912,709 | SH | DFND | 1 | 5,912,709 | 0 | 0 | |
| PIONEER NAT RES CO | COM | 723787107 | 352,495 | 2,435,200 | SH | DFND | 1 | 2,435,200 | 0 | 0 | |
| POPULAR INC | COM | 733174700 | 268,636 | 8,845,448 | SH | DFND | 1 | 8,845,448 | 0 | 0 | |
| POST HLDGS INC | COM | 737446104 | 53,885 | 1,234,200 | SH | DFND | 1 | 1,234,200 | 0 | 0 | |
| RADIAN GROUP INC | COM | 750236101 | 132,397 | 11,393,900 | SH | DFND | 1 | 11,393,900 | 0 | 0 | |
| RANDGOLD RES LTD | ADR | 752344309 | 42,925 | 670,700 | SH | DFND | 1 | 670,700 | 0 | 0 | |
| RADIAN GROUP INC | NOTE 2.250% 3/01/2019 | 750236AN1 | 107,790 | 84,500,000 | SH | DFND | 1 | 84,500,000 | 0 | 0 | |
| REDWOOD TR INC | NOTE 4.625% 4/01/2018 | 758075AB1 | 24,578 | 25,000,000 | SH | DFND | 1 | 25,000,000 | 0 | 0 | |
| REALOGY HLDGS CORP | COM | 75605Y106 | 622,488 | 12,957,700 | SH | DFND | 1 | 12,957,700 | 0 | 0 | |
| ROCK-TENN CO | CL A | 772739207 | 59,928 | 600,000 | SH | DFND | 1 | 600,000 | 0 | 0 | |
| ROYAL BK SCOTLAND GROP PLC | SP ADR PREF M | 780097796 | 2,749 | 129,488 | SH | DFND | 1 | 129,488 | 0 | 0 | |
| ROYAL BK SCOTLAND GROP PLC | ADR PFD SER P | 780097762 | 9,516 | 452,299 | SH | DFND | 1 | 452,299 | 0 | 0 | |
| ROYAL BK SCOTLAND GROP PLC | ADR PREF SHS R | 780097747 | 9,374 | 453,513 | SH | DFND | 1 | 453,513 | 0 | 0 | |
| ROYAL BK SCOTLAND GROP PLC | SP ADR PREF S | 780097739 | 1,768 | 80,969 | SH | DFND | 1 | 80,969 | 0 | 0 | |
| ROYAL BK SCOTLAND GROP PLC | ADR PREF SER N | 780097770 | 2,111 | 100,336 | SH | DFND | 1 | 100,336 | 0 | 0 | |
| RUE21 INC | COM | 781295100 | 95,703 | 2,300,000 | SH | DFND | 1 | 2,300,000 | 0 | 0 | |
| RYMAN HOSPITALITY PPTYS INC | COM ADDED | 78377T107 | 43,707 | 1,120,400 | SH | DFND | 1 | 1,120,400 | 0 | 0 | |
| SHIRE PLC | SPONSORED ADR | 82481R106 | 270,445 | 2,843,500 | SH | DFND | 1 | 2,843,500 | 0 | 0 | |
| SIBANYE GOLD LTD | SPONSORED ADR | 825724206 | 4,799 | 1,632,435 | SH | DFND | 1 | 1,632,435 | 0 | 0 | |
| SMITHFIELD FOODS INC | COM | 832248108 | 163,750 | 5,000,000 | SH | DFND | 1 | 5,000,000 | 0 | 0 | |
| SPDR GOLD TRUST | GOLD SHS | 78463V107 | 1,219,073 | 10,234,852 | SH | DFND | 1 | 10,234,852 | 0 | 0 | |
| SPRINT NEXTEL CORP | COM SER 1 | 852061100 | 1,404,000 | 200,000,000 | SH | DFND | 1 | 99,999,999 | 0 | 0 | |
| STARWOOD PPTY TR INC NOTE 4.550% 3/0 ADDED | NOTE 4.550% 3/01/2018 | 85571BAA3 | 25,750 | 25,000,000 | SH | DFND | 1 | 25,000,000 | 0 | 0 | |
| STATE BK FINL CORP | COM ADDED | 856190103 | 18,971 | 1,262,200 | SH | DFND | 1 | 1,262,200 | 0 | 0 | |
| STRATEGIC HOTELS & RESORTS I | COM | 86272T106 | 14,530 | 1,640,000 | SH | DFND | 1 | 1,640,000 | 0 | 0 | |
| SUNSTONE HOTEL INVS INC | COM NEW | 867892101 | 2,977 | 246,458 | SH | DFND | 1 | 246,458 | 0 | 0 | |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 | 483,313 | 5,710,900 | SH | DFND | 1 | 5,710,900 | 0 | 0 | |
| T-MOBILE US INC | COM ADDED | 872590104 | 413,693 | 16,674,449 | SH | DFND | 1 | 16,674,449 | 0 | 0 | |
| VODAFONE GROUP PLC NEW | SPONS ADR NEW | 92857W209 | 80,728 | 2,808,900 | SH | DFND | 1 | 2,808,900 | 0 | 0 | |
| WHITEWAVE FOODS CO | COM CL B | 966244204 | 15,200 | 1,000,000 | SH | DFND | 1 | 1,000,000 | 0 | 0 | |
| LYON WILLIAM HOMES | CL A NEW ADDED | 552074700 | 83,764 | 3,322,666 | SH | DFND | 1 | 3,322,666 | 0 | 0 | |
| W P CAREY INC | COM ADDED | 92936U109 | 101,562 | 1,534,860 | SH | DFND | 1 | 1,534,860 | 0 | 0 | |