Highland Capital Management 13F-HR Quarterly holdings report by institutional manager

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
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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
58.COM	ADR	31680Q104	2,162	40,000	SH		SOLE		0	0	0
ABBVIE INC	COMMON STOCK	00287Y109	3,754	66,519	SH		SOLE		0	0	0
ACADIA HEALTHCARE CO INC	COMMON STOCK	00404A109	34,772	764,223	SH		SOLE		0	0	0
ACTAVIS, INC.	COMMON STOCK	G0083B108	4,997	22,403	SH		DFND		0	0	0
ADCARE HEALTH SYSTEMS INC.	COMMON STOCK	00650W300	365	85,194	SH		SOLE		0	0	0
ADVANCED ENERGY INDUSTRIES INC.	COMMON STOCK	007973100	7,775	403,900	SH		SOLE		0	0	0
AERCAP HOLDINGS N.V.	COMMON STOCK	N00985106	9,926	216,735	SH		SOLE		0	0	0
AFFILIATED MANAGERS GROUP INC.	COMMON STOCK	008252108	17,322	84,332	SH		SOLE		0	0	0
AFLAC INC	COMMON STOCK	001055102	10,956	176,000	SH		SOLE		0	0	0
AIR METHODS CORP.	COMMON STOCK	009128307	4,138	80,125	SH		SOLE		0	0	0
AKAMAI TECHNOLOGIES INC	COMMON STOCK	00971T101	10,563	173,000	SH		SOLE		0	0	0
AKORN, INC.	COMMON STOCK	009728106	4,462	134,205	SH		SOLE		0	0	0
AKORN, INC.	COMMON STOCK	89222000	44	1,319	SH		SOLE		0	0	0
ALBANY MOLECULAR RESEARCH INC.	COMMON STOCK	012423109	3,239	160,980	SH		SOLE		0	0	0
ALBANY MOLECULAR RESEARCH INC.	COMMON STOCK	31726000	163	8,123	SH		SOLE		0	0	0
ALEXION PHARMACEUTICALS INC.	COMMON STOCK	015351109	3,089	19,768	SH		SOLE		0	0	0
ALEXION PHARMACEUTICALS INC.	COMMON STOCK	38419000	116	740	SH		SOLE		0	0	0
ALIMERA SCIENCES INC	COMMON STOCK	016259103	529	88,500	SH		SOLE		0	0	0
ALKERMES INC.	COMMON STOCK	G01767105	7,479	148,599	SH		DFND		0	0	0
ALLIANCE DATA SYSTEMS CORPORATION	COMMON STOCK	018581108	21,496	76,431	SH		SOLE		0	0	0
ALLIANCE DATA SYSTEMS CORPORATION	COMMON STOCK	79293000	154	546	SH		SOLE		0	0	0
ALLY FINANCIAL INC. (FKA GMAC, INC.)	COMMON STOCK	02005N100	11,914	498,300	SH		SOLE		0	0	0
AMEDICA CORP	COMMON STOCK	023435100	2,426	538,026	SH		DFND		0	0	0
AMERICAN AIRLINES GROUP INC.	COMMON STOCK	02376R102	281,374	6,549,681	SH		DFND		0	0	0
AMERICAN AIRLINES GROUP INC.	OPTIONS	02376r902	30,290	30,000	SH	Call	DFND		0	0	0
AMERICAN INTERNATIONAL GROUP INC.	COMMON STOCK	026874784	9,994	183,100	SH		SOLE		0	0	0
ANADARKO PETROLEUM CORPORATION	OPTIONS	32511907	2,547	2,250	SH	Call	SOLE		0	0	0
ANADARKO PETROLEUM CORPORATION	COMMON STOCK	468123000	116	1,060	SH		SOLE		0	0	0
AON CORP.	COMMON STOCK	G0408V102	8,311	92,256	SH		DFND		0	0	0
APOLLO GROUP	COMMON STOCK	037604105	1,280	40,950	SH		SOLE		0	0	0
AQUINOX PHARMACEUTICALS INC	COMMON STOCK	03842B101	1,651	176,247	SH		SOLE		0	0	0
ATHLON ENERGY INC	COMMON STOCK	047477104	12,266	257,155	SH		SOLE		0	0	0
ATLANTIC POWER CORP-IPS	COMMON STOCK	04878Q863	15,875	3,871,879	SH		DFND		0	0	0
BANK OF AMERICA CORPORATION	EQUITY WARRANTS	60505153	541	721,832	SH		SOLE		0	0	0
BANK UNITED	COMMON STOCK	06652K103	13,898	415,100	SH		SOLE		0	0	0
BE AEROSPACE, INC	COMMON STOCK	073302101	15,501	167,600	SH		SOLE		0	0	0
BIOGEN IDEC INC.	COMMON STOCK	09062X103	4,871	15,448	SH		SOLE		0	0	0
BIOGEN IDEC INC.	COMMON STOCK	293022000	142	450	SH		SOLE		0	0	0
BITAUTO HOLDINGS LTD	ADR	091727107	1,948	40,000	SH		SOLE		0	0	0
BLACKROCK BUILD AMERICA BOND	CLOSE END FIXED INCOME MUTUAL FUNDS	09248X100	380	17,500	SH		SOLE		0	0	0
BLACKROCK PREFERRED AND EQUI	CLOSE END FIXED INCOME MUTUAL FUNDS	092508100	358	26,000	SH		SOLE		0	0	0
BLACKSTONE / GSO STRATEGIC C	CLOSE END FIXED INCOME MUTUAL FUNDS	09257R101	706	40,000	SH		SOLE		0	0	0
BOARDWALK PIPELINE PARTNERS LP	LTD PARTNERSHIP	096627104	309	16,726	SH		SOLE		0	0	0
BOARDWALK PIPELINE PARTNERS LP	LTD PARTNERSHIP	100656000	125	6,750	SH		SOLE		0	0	0
BOULDER BRANDS INC	COMMON STOCK	101405108	2,257	159,136	SH		SOLE		0	0	0
BPL ACQUISITION, LP	LTD PARTNERSHIP	118230101	423	5,090	SH		SOLE		0	0	0
BROOKDALE SENIOR LIVING INC.	COMMON STOCK	112463104	3,367	100,980	SH		SOLE		0	0	0
BROOKDALE SENIOR LIVING INC.	COMMON STOCK	102231000	139	4,179	SH		SOLE		0	0	0
CANON INC-SPONS ADR	ADR	138006309	7,177	219,150	SH		SOLE		0	0	0
CARDINAL HEALTH INC.	COMMON STOCK	14149Y108	2,837	41,383	SH		SOLE		0	0	0
CBS CORP	OPTIONS	124857903	3,113	6,250	SH	Call	SOLE		0	0	0
CBS CORP	COMMON STOCK	124857202	7,740	124,559	SH		SOLE		0	0	0
CBS CORP	COMMON STOCK	622446000	105	1,690	SH		SOLE		0	0	0
CH ROBINSON WORLDWIDE INC.	COMMON STOCK	12541W209	23,322	365,600	SH		SOLE		0	0	0
CHARTWELL DIV & INC FUND INC	CLOSE END FIXED INCOME MUTUAL FUNDS	25538A204	215	13,475	SH		SOLE		0	0	0
CHESAPEAKE MIDSTREAM PARTNERS	LTD PARTNERSHIP	00434L109	719	11,314	SH		DFND		0	0	0
CHIMERIX INC	COMMON STOCK	16934W106	1,194	54,440	SH		SOLE		0	0	0
CHIPOTLE MEXICAN GRILL-CL A	COMMON STOCK	169656105	11,850	20,000	SH		SOLE		0	0	0
CIGNA CORPORATION	COMMON STOCK	125509109	6,915	75,192	SH		DFND		0	0	0
CIT GROUP INC.	COMMON STOCK	125581801	16,424	358,919	SH		SOLE		0	0	0
COMMSCOPE HOLDING CO INC	COMMON STOCK	20337X109	5,300	229,140	SH		SOLE		0	0	0
COMMUNITY HEALTH SERVICES, INC	COMMON STOCK	203668108	8,289	182,693	SH		DFND		0	0	0
COMMVAULT SYSTEMS INC.	COMMON STOCK	204166102	23,599	479,954	SH		DFND		0	0	0
CONCHO RESOURCES INC.	COMMON STOCK	20605P101	19,146	132,500	SH		SOLE		0	0	0
CONCHO RESOURCES INC.	OPTIONS	20605p901	328	800	SH	Put	SOLE		0	0	0
CONN'S INC	COMMON STOCK	208242107	28,204	571,047	SH		DFND		0	0	0
CONTINENTAL RESOURCES INC/OK	COMMON STOCK	212015101	5,648	35,735	SH		SOLE		0	0	0
CORNING INC.	COMMON STOCK	219350105	354	16,135	SH		SOLE		0	0	0
CORRECTIONS CORPORATION OF AMERICA	EQUITY	22025Y407	38,493	1,171,780	SH		DFND		0	0	0
COVANTA HOLDING CORP	COMMON STOCK	22282E102	618	30,000	SH		SOLE		0	0	0
CREDIT SUISSE ASSET MGMT INC	CLOSE END FIXED INCOME MUTUAL FUNDS	224916106	45	12,254	SH		SOLE		0	0	0
CREDIT SUISSE HIGH YIELD BD	CLOSE END FIXED INCOME MUTUAL FUNDS	22544F103	51	15,575	SH		SOLE		0	0	0
CROSSTEX ENERGY	COMMON STOCK	29336T100	302	7,254	SH		SOLE		0	0	0
CROSSTEX ENERGY	COMMON STOCK	46280000	187	4,494	SH		SOLE		0	0	0
CROSSTEX ENERGY LP	LTD PARTNERSHIP	29336U107	528	16,789	SH		SOLE		0	0	0
CROSSTEX ENERGY LP	LTD PARTNERSHIP	44806000	133	4,245	SH		SOLE		0	0	0
DIAMONDBACK ENERGY INC	COMMON STOCK	25278X109	19,549	220,151	SH		SOLE		0	0	0
DIREXION GOLD MINERS BULL 2X	EXCHANGE TRADED FUNDS	25459Y389	1,082	23,400	SH		SOLE		0	0	0
DYNAGAS LNG PARTNERS LP	LTD PARTNERSHIP	y2188b108	715	29,467	SH		DFND		0	0	0
E*TRADE FINANCIAL CORP	COMMON STOCK	269246401	13,029	612,841	SH		SOLE		0	0	0
E*TRADE FINANCIAL CORP	COMMON STOCK	519747000	113	5,320	SH		SOLE		0	0	0
EAGLE CAPITAL GROWTH FUND	CLOSE END FIXED INCOME MUTUAL FUNDS	269451100	97	12,250	SH		SOLE		0	0	0
EATON VANCE LTD DURATION FND	CLOSE END FIXED INCOME MUTUAL FUNDS	27828H105	343	22,000	SH		SOLE		0	0	0
EDWARDS LIFESCIENCES CORPORATION	COMMON STOCK	28176E108	1,940	22,600	SH		SOLE		0	0	0
ELI LILLY & CO	COMMON STOCK	532457108	2,718	43,711	SH		SOLE		0	0	0
ELLSWORTH FUND LTD	CLOSE END FIXED INCOME MUTUAL FUNDS	289074106	209	23,700	SH		SOLE		0	0	0
ENABLE MIDSTREAM PARTNERS LP	LTD PARTNERSHIP	292480100	549	20,951	SH		SOLE		0	0	0
ENBRIDGE ENERGY PARTNERS LP	LTD PARTNERSHIP	29250R106	512	13,853	SH		SOLE		0	0	0
ENERGY TRANSFER EQUITY, L.P.	LTD PARTNERSHIP	29273V100	669	11,357	SH		SOLE		0	0	0
ENERGY TRANSFER EQUITY, L.P.	LTD PARTNERSHIP	222830000	188	3,189	SH		SOLE		0	0	0
ENERGY TRANSFER PARTNERS LP	LTD PARTNERSHIP	29273R109	535	9,235	SH		SOLE		0	0	0
ENTERPRISE PRODUCTS PARTNERS LP	LTD PARTNERSHIP	293792107	698	8,912	SH		SOLE		0	0	0
ENTERPRISE PRODUCTS PARTNERS LP	LTD PARTNERSHIP	435843000	139	1,776	SH		SOLE		0	0	0
EQT MIDSTREAM PARTNERS LP	LTD PARTNERSHIP	26885B100	730	7,543	SH		DFND		0	0	0
EXAMWORKS INC	COMMON STOCK	30066A105	4,169	131,397	SH		DFND		0	0	0
FACEBOOK INC	COMMON STOCK	30303M102	33,610	499,481	SH		DFND		0	0	0
FAMILY DOLLAR STORES, INC.	COMMON STOCK	307000109	334	5,050	SH		SOLE		0	0	0
FIDELITY NATIONAL FINL-A	COMMON STOCK	31620r105	41,849	1,277,429	SH		DFND		0	0	0
FIVE BELOW	COMMON STOCK	33829M101	3,618	90,657	SH		SOLE		0	0	0
FOREST LABORATORIES INC.	COMMON STOCK	345838106	15,803	159,627	SH		SOLE		0	0	0
FORTINET INC	COMMON STOCK	34959E109	62,593	2,490,771	SH		DFND		0	0	0
FRESH MARKET INC/THE	COMMON STOCK	35804H106	64,387	1,923,719	SH		DFND		0	0	0
GENESIS ENERGY LP	LTD PARTNERSHIP	371927104	290	5,175	SH		SOLE		0	0	0
GLOBUS MEDICAL INC	COMMON STOCK	379577208	1,926	80,501	SH		SOLE		0	0	0
GNC ACQUISITION HOLDINGS INC	COMMON STOCK	36191G107	2,967	87,000	SH		SOLE		0	0	0
GRAY TELEVISION, INC.	COMMON STOCK	389375205	194	18,000	SH		SOLE		0	0	0
GW PHARMACEUTICALS PLC	ADR	36197T103	3,713	34,611	SH		SOLE		0	0	0
H&R BLOCK, INC.	COMMON STOCK	093671105	24,922	743,500	SH		SOLE		0	0	0
H&R BLOCK, INC.	COMMON STOCK	326843000	147	4,400	SH		SOLE		0	0	0
HCA HOLDINGS INC.	COMMON STOCK	40412C101	27,135	481,283	SH		DFND		0	0	0
HCP	EQUITY	40414L109	4,745	114,657	SH		SOLE		0	0	0
HEALTH CARE REIT INC.	EQUITY	42217K106	5,425	86,568	SH		SOLE		0	0	0
HEALTHSOUTH CORPORATION	COMMON STOCK	421924309	1,052	29,331	SH		SOLE		0	0	0
HEWLETT PACKARD	COMMON STOCK	428236103	22,902	680,000	SH		SOLE		0	0	0
HUNTSMAN CORP.	COMMON STOCK	447011107	422	15,000	SH		SOLE		0	0	0
HUNTSMAN CORP.	COMMON STOCK	234463000	106	3,778	SH		SOLE		0	0	0
ICON PLC - SPONSORED ADR	COMMON STOCK	G4705A100	6,286	133,427	SH		SOLE		0	0	0
ICON PLC - SPONSORED ADR	COMMON STOCK	28990000	183	3,885	SH		SOLE		0	0	0
INERGY MIDSTREAM LLC	LTD PARTNERSHIP	226378107	499	22,590	SH		SOLE		0	0	0
INTERCEPT PHARMACEUTICALS IN	COMMON STOCK	45845P108	1,509	6,376	SH		SOLE		0	0	0
JETBLUE AIRWAYS CORPORATION	COMMON STOCK	477143101	18,042	1,662,827	SH		DFND		0	0	0
JGWPT HOLDINGS INC	COMMON STOCK	46617M109	325	28,850	SH		SOLE		0	0	0
K12 INC	COMMON STOCK	48273U102	51,463	2,138,057	SH		DFND		0	0	0
KINDER MORGAN ENERGY PRTNRS	LTD PARTNERSHIP	494550106	264	3,208	SH		SOLE		0	0	0
KINDER MORGAN HOLDCO LLC	COMMON STOCK	49456B101	425	11,715	SH		SOLE		0	0	0
KINDER MORGAN HOLDCO LLC	OPTIONS	49456b901	23	800	SH	Call	SOLE		0	0	0
KIRBY CORP.	COMMON STOCK	497266106	1,347	11,500	SH		SOLE		0	0	0
LABORATORY CRP OF AMER HLDGS	COMMON STOCK	50540R409	3,812	37,229	SH		SOLE		0	0	0
LABORATORY CRP OF AMER HLDGS	COMMON STOCK	111300000	82	804	SH		SOLE		0	0	0
LEGG MASON	COMMON STOCK	524901105	24,503	477,540	SH		SOLE		0	0	0
LEGG MASON	COMMON STOCK	139158000	131	2,555	SH		SOLE		0	0	0
LIFE TIME FITNESS	COMMON STOCK	53217R207	4,073	83,570	SH		SOLE		0	0	0
LORAL SPACECOM CORP	OPTIONS	543881906	9,307	6,600	SH	Call	SOLE		0	0	0
LORAL SPACECOM CORP	COMMON STOCK	543881106	106,880	1,470,359	SH		DFND		0	0	0
LULULEMON ATHLETICA INC	COMMON STOCK	550021109	49,238	1,216,350	SH		DFND		0	0	0
MAGELLAN MIDSTREAM PARTNERS, L.P.	LTD PARTNERSHIP	559080106	448	5,325	SH		SOLE		0	0	0
MAGELLAN MIDSTREAM PARTNERS, L.P.	LTD PARTNERSHIP	66744000	189	2,247	SH		SOLE		0	0	0
MANAGED HI YLD PLUS FUND INC	CLOSE END FIXED INCOME MUTUAL FUNDS	561911108	49	23,040	SH		SOLE		0	0	0
MANPOWER INC.	COMMON STOCK	56418H100	8,234	97,036	SH		SOLE		0	0	0
MARATHON PETROLEUM CORP.	COMMON STOCK	56585A102	2,629	33,681	SH		DFND		0	0	0
MARKET VECTORS GOLD MINERS	EXCHANGE TRADED FUNDS	57060U100	1,323	50,000	SH		SOLE		0	0	0
MARKET VECTORS JR GOLD MINER	EXCHANGE TRADED FUNDS	57061R544	1,057	25,000	SH		SOLE		0	0	0
MARKWEST ENERGY PARTNERS, L.P.	LTD PARTNERSHIP	570759100	1,043	14,565	SH		DFND		0	0	0
MCGRAW-HILL COMPANIES INC.	COMMON STOCK	580645109	3,487	42,000	SH		SOLE		0	0	0
MCKESSON CORP	COMMON STOCK	58155Q103	12,420	66,700	SH		SOLE		0	0	0
MEDIA GENERAL, INC.	COMMON STOCK	584404107	178,930	8,715,530	SH		DFND		0	0	0
MEDIDATA SOLUTIONS INC.	COMMON STOCK	58471A105	4,981	116,345	SH		DFND		0	0	0
MEDTRONIC	COMMON STOCK	585055106	12,430	194,948	SH		DFND		0	0	0
MELCO CROWN ENTERTAINME-ADR	ADR	585464100	2,405	67,335	SH		SOLE		0	0	0
MELLANOX TECHNOLOGIES LTD.	COMMON STOCK	M51363113	7,554	216,700	SH		SOLE		0	0	0
MERCK & CO., INC.	COMMON STOCK	58933Y105	4,303	74,385	SH		DFND		0	0	0
MICROSOFT CORPORATION	OPTIONS	594918904	1,710	7,500	SH	Call	SOLE		0	0	0
MICROSOFT CORPORATION	COMMON STOCK	594918104	7,735	185,500	SH		DFND		0	0	0
MIDCOAST ENERGY PARTNERS LP	LTD PARTNERSHIP	59564N103	578	26,283	SH		DFND		0	0	0
MIMEDX GROUP INC	COMMON STOCK	602496101	2,408	339,650	SH		SOLE		0	0	0
MONOLITHIC POWER SYSTEMS INC.	COMMON STOCK	609839105	2,118	50,000	SH		SOLE		0	0	0
MONSANTO COMPANY	COMMON STOCK	61166W101	13,235	106,100	SH		SOLE		0	0	0
MPLX LP	LTD PARTNERSHIP	55336V100	817	12,665	SH		DFND		0	0	0
NABORS INDUSTRIES, INC.	COMMON STOCK	g6359f103	29,235	995,400	SH		SOLE		0	0	0
NANOSPHERE INC	COMMON STOCK	63009F105	745	471,500	SH		DFND		0	0	0
NANOSTRING TECHNOLOGIES INC	COMMON STOCK	63009R109	1,432	95,809	SH		SOLE		0	0	0
NAVIGATOR HOLDINGS PLC	COMMON STOCK	y62135108	2,204	75,000	SH		SOLE		0	0	0
NETAPP INC	COMMON STOCK	64110D104	4,636	126,950	SH		SOLE		0	0	0
NEUSTAR INC-CLASS A	COMMON STOCK	64126X201	12,965	498,285	SH		SOLE		0	0	0
NEWS CORP/NEW-CL A-W/I	COMMON STOCK	65249B109	47,648	2,655,982	SH		DFND		0	0	0
NEXPOINT CREDIT STRATEGIES FUND (FKA HIGHLAND CREDIT STRATEGIES FUND)	CLOSE END FIXED INCOME MUTUAL FUNDS	65340G106	20,210	1,674,370	SH		DFND		0	0	0
NEXPOINT CREDIT STRATEGIES FUND (FKA HIGHLAND CREDIT STRATEGIES FUND)	CLOSE END FIXED INCOME MUTUAL FUNDS	34521000	8	674	SH		SOLE		0	0	0
NGL ENERGY PARTNERS LP	LTD PARTNERSHIP	62913M107	669	15,427	SH		DFND		0	0	0
NOVADAQ TECHNOLOGIES INC	COMMON STOCK	66987G102	1,236	74,988	SH		DFND		0	0	0
NRG HOLDINGS, INC.	COMMON STOCK	629377508	54,478	1,464,470	SH		DFND		0	0	0
NRG HOLDINGS, INC.	COMMON STOCK	235922000	140	3,759	SH		DFND		0	0	0
NUVASIVE INC.	COMMON STOCK	670704105	4,795	134,800	SH		DFND		0	0	0
NXP SEMICONDUCTOR NV	COMMON STOCK	N6596X109	22,135	334,474	SH		DFND		0	0	0
OCEAN RIG UDW INC - W/I	COMMON STOCK	Y64354205	45,049	2,379,782	SH		DFND		0	0	0
OILTANKING PARTNERS LP	LTD PARTNERSHIP	678049107	575	6,090	SH		DFND		0	0	0
ONEOK INC.	COMMON STOCK	682680103	212	3,121	SH		SOLE		0	0	0
ONEOK INC.	COMMON STOCK	104275000	174	2,559	SH		SOLE		0	0	0
ONEOK PARTNERS LP	LTD PARTNERSHIP	68268N103	404	6,894	SH		SOLE		0	0	0
ONEOK PARTNERS LP	LTD PARTNERSHIP	54426000	114	1,947	SH		SOLE		0	0	0
ORIX - SPONSORED ADR	EQUITY	686330101	988	59,000	SH		SOLE		0	0	0
PAREXEL INTERNATIONAL CORPORATION	COMMON STOCK	699462107	4,787	90,591	SH		SOLE		0	0	0
PAREXEL INTERNATIONAL CORPORATION	COMMON STOCK	56613000	139	2,638	SH		SOLE		0	0	0
PATTERSON COMPANIES, INC	COMMON STOCK	703395103	15,083	381,750	SH		SOLE		0	0	0
PENDRELL CORPORATION ( F.K.A. ICO GLOBAL COMMUNICATIONS)	COMMON STOCK	70686R104	80,276	45,611,145	SH		DFND		0	0	0
PHILLIPS 66 PARTNERS LP	LTD PARTNERSHIP	718549207	818	10,831	SH		DFND		0	0	0
PINNACLE ENTERTAINMENT, INC.	COMMON STOCK	723456109	321	12,750	SH		SOLE		0	0	0
PIONEER NATURAL RESOURCES CO	COMMON STOCK	723787107	19,813	86,214	SH		SOLE		0	0	0
PIONEER NATURAL RESOURCES CO	COMMON STOCK	119542000	175	761	SH		SOLE		0	0	0
PLAINS ALL AMER PIPELINE LP	LTD PARTNERSHIP	726503105	515	8,576	SH		SOLE		0	0	0
PLAINS ALL AMER PIPELINE LP	LTD PARTNERSHIP	115982000	173	2,886	SH		SOLE		0	0	0
PLAINS GP HOLDINGS LP	LTD PARTNERSHIP	72651A108	697	21,794	SH		DFND		0	0	0
PROGENICS PHARMACEUTICALS	COMMON STOCK	743187106	6,850	1,589,363	SH		SOLE		0	0	0
PROGENICS PHARMACEUTICALS	COMMON STOCK	30022000	9	2,165	SH		SOLE		0	0	0
PROSHARES ULTRA GOLD	EXCHANGE TRADED FUNDS	74347W601	3,268	66,145	SH		DFND		0	0	0
PROSHARES ULTRA SILVER	EXCHANGE TRADED FUNDS	74347W353	49,959	696,189	SH		DFND		0	0	0
PROSHARES ULTRASHORT NAS BIO	EXCHANGE TRADED FUNDS	74347B409	8,299	582,775	SH		SOLE		0	0	0
PROSHRE U/S DJ-AIG CRUDE OIL	EXCHANGE TRADED FUNDS	74347W668	7,785	316,325	SH		SOLE		0	0	0
PYXIS/IBOXX SENIOR LOAN ETF	EXCHANGE TRADED FUNDS	430101774	23,665	1,187,383	SH		SOLE		0	0	0
RACKSPACE HOSTING, INC.	COMMON STOCK	750086100	17,854	530,423	SH		SOLE		0	0	0
RACKSPACE HOSTING, INC.	COMMON STOCK	17579740	124	3,670	SH		SOLE		0	0	0
RAYONIER INC.	EQUITY	754907103	1,511	42,500	SH		SOLE		0	0	0
RCS CAPITAL CORP	COMMON STOCK	74937W102	12,880	606,710	SH		DFND		0	0	0
RECEPTOS INC	COMMON STOCK	756207106	5,847	137,261	SH		DFND		0	0	0
REGENCY ENERGY PARTNERS, L.P.	LTD PARTNERSHIP	75885Y107	477	14,824	SH		SOLE		0	0	0
REPLIGEN CORPORATION	COMMON STOCK	759916109	607	26,619	SH		SOLE		0	0	0
REVANCE THERAPEUTICS INC	COMMON STOCK	761330109	2,477	72,866	SH		SOLE		0	0	0
SALESFORCE.COM INC.	COMMON STOCK	79466L302	8,664	149,173	SH		SOLE		0	0	0
SALIX PHARMACEUTICALS, LTD.	COMMON STOCK	795435106	2,467	20,000	SH		SOLE		0	0	0
SANCHEZ ENERGY CORP	COMMON STOCK	79970Y105	2,255	60,000	SH		SOLE		0	0	0
SAREPTA THERAPEUTICS INC.	COMMON STOCK	803607100	1,785	59,926	SH		SOLE		0	0	0
SAREPTA THERAPEUTICS INC.	COMMON STOCK	70963000	46	1,532	SH		SOLE		0	0	0
SBA COMMUNICATIONS CORP-CL A	COMMON STOCK	78388J106	19,594	191,537	SH		SOLE		0	0	0
SEADRILL LTD.	LTD PARTNERSHIP	g7945e105	526	15,850	SH		DFND		0	0	0
SERVICE CORPORATION INTERNATIONAL	COMMON STOCK	817565104	5,993	289,220	SH		DFND		0	0	0
SIGNATURE BANK	COMMON STOCK	82669G104	1,240	10,000	SH		SOLE		0	0	0
SKYWEST	COMMON STOCK	830879102	10,508	859,906	SH		DFND		0	0	0
SONY CORP-SPONSORED ADR	ADR	835699307	35,422	2,112,225	SH		DFND		0	0	0
SOTHEBY'S	COMMON STOCK	835898107	3,525	83,950	SH		SOLE		0	0	0
SPECTRUM BRANDS, INC.	COMMON STOCK	84763R101	12,433	144,520	SH		SOLE		0	0	0
SPIRIT AIRLINES INC	COMMON STOCK	848577102	1,581	25,000	SH		SOLE		0	0	0
SPIRIT REALTY CAPITAL, INC. (FKA SPIRIT FINANCE CORPORATION)	EQUITY	84860W102	81,193	7,147,268	SH		DFND		0	0	0
STAPLES INC.	COMMON STOCK	855030102	67,471	6,224,225	SH		DFND		0	0	0
STREAMLINE HEALTH SOLUTIONS INC.	COMMON STOCK	86323X106	855	178,050	SH		SOLE		0	0	0
SUMITOMO MITSUI FINANCIAL GROUP, INC	COMMON STOCK	86562M209	1,007	20,700	SH		SOLE		0	0	0
SUNPOWER CORP-CLASS B-W/I	COMMON STOCK	867652406	2,049	50,000	SH		SOLE		0	0	0
SWS GROUP INC.	COMMON STOCK	78503N107	23,065	3,168,307	SH		DFND		0	0	0
TAL EDUCATION GROUP- ADR	ADR	874080104	2,063	75,000	SH		SOLE		0	0	0
TALLGRASS ENERGY PARTNERS LP	LTD PARTNERSHIP	874697105	511	13,159	SH		DFND		0	0	0
TARGA RESOURCES INVESTMENTS	COMMON STOCK	87612G101	1,203	8,619	SH		DFND		0	0	0
TARGA RESOURCES, INC.	LTD PARTNERSHIP	87611X105	633	8,798	SH		SOLE		0	0	0
TARGA RESOURCES, INC.	LTD PARTNERSHIP	34652000	170	2,366	SH		SOLE		0	0	0
TEAM FINANCE LLC (A.K.A TEAM HEALTH HOLDINGS, LLC)	COMMON STOCK	87817A107	3,501	70,104	SH		DFND		0	0	0
TELEFLEX INC.	COMMON STOCK	879369106	2,491	23,586	SH		SOLE		0	0	0
TELEFLEX INC.	COMMON STOCK	39602000	141	1,336	SH		SOLE		0	0	0
TESORO LOGISTICS LP	LTD PARTNERSHIP	88160T107	710	9,677	SH		DFND		0	0	0
TEVA PHARMACEUTICAL	ADR	881624209	5,276	100,645	SH		SOLE		0	0	0
TEVA PHARMACEUTICAL	ADR	811975000	159	3,032	SH		SOLE		0	0	0
TIME WARNER INC.	COMMON STOCK	887317303	362	5,160	SH		SOLE		0	0	0
TIVO INC.	COMMON STOCK	888706108	13,417	1,039,246	SH		SOLE		0	0	0
TORCHMARK CORP.	COMMON STOCK	891027104	10,965	133,850	SH		SOLE		0	0	0
ULTRASHORT RUSSELL2000 PROSH	EXCHANGE TRADED FUNDS	74348A319	18,250	424,225	SH		SOLE		0	0	0
UNITEDHEALTH GROUP INC.	COMMON STOCK	91324P102	7,434	90,941	SH		SOLE		0	0	0
UNIVERSAL HEALTH SERVICES, INC.	COMMON STOCK	913903100	8,685	90,696	SH		DFND		0	0	0
VALERO ENERGY PARTNERS LP	LTD PARTNERSHIP	91914J102	572	11,377	SH		DFND		0	0	0
VENTAS REALTY, LIMITED PARTNERSHIP	EQUITY	92276F100	9,327	145,509	SH		DFND		0	0	0
VERTEX PHARMACEUTICALS INC	COMMON STOCK	92532F100	3,622	38,255	SH		SOLE		0	0	0
VERTEX PHARMACEUTICALS INC	COMMON STOCK	140569000	105	1,114	SH		SOLE		0	0	0
VIPSHOP HOLDINGS LTD - ADS	ADR	92763W103	2,347	12,500	SH		SOLE		0	0	0
W.R. GRACE & CO.	COMMON STOCK	38388F108	404	4,270	SH		SOLE		0	0	0
WATSCO INC.	COMMON STOCK	942622200	23,198	225,750	SH		SOLE		0	0	0
WATSCO INC.	COMMON STOCK	27879770	116	1,130	SH		SOLE		0	0	0
WELLCARE HEALTH PLANS, INC.	COMMON STOCK	94946T106	13,175	176,465	SH		DFND		0	0	0
WELLPOINT INC.	COMMON STOCK	94973V107	5,046	46,890	SH		SOLE		0	0	0
WELLPOINT INC.	COMMON STOCK	613655000	184	1,710	SH		SOLE		0	0	0
WESTERN DIGITAL CORPORATION	COMMON STOCK	958102105	30,401	329,374	SH		DFND		0	0	0
WESTERN GAS EQUITY PARTNERS	LTD PARTNERSHIP	95825R103	251	4,000	SH		DFND		0	0	0
WESTERN REFINING LOGISTICS L	LTD PARTNERSHIP	95931Q205	423	12,945	SH		DFND		0	0	0
WILLIAMS COS INC.	COMMON STOCK	969457100	729	12,521	SH		DFND		0	0	0
WILLIAMS PARTNERS LP	LTD PARTNERSHIP	96950F104	476	8,761	SH		SOLE		0	0	0
WISDOMTREE JAPAN DIVIDEND FD	EXCHANGE TRADED FUNDS	97717W851	2,962	60,000	SH		SOLE		0	0	0
WRIGHT MEDICAL GROUP INC.	EQUITY WARRANTS	98235T115	116	77,595	SH		DFND		0	0	0
YAHOO! INC	COMMON STOCK	984332106	44,215	1,258,620	SH		DFND		0	0	0
YPF S.A.-SPONSORED ADR	ADR	984245100	7,418	227,000	SH		SOLE		0	0	0