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
AGNICO EAGLE MINES LTD COM 008474108 37,465 1,320,600 SH   DFND 1 1,320,600 0 0
ALLERGAN PLC SHS ADDED G0177J108 2,177,083 7,174,200 SH   DFND 1 7,174,200 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 902,770 14,603,200 SH   DFND 1 14,603,200 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 232,944 26,027,300 SH   DFND 1 26,027,300 0 0
BANK OF AMERICA CORPORATION * W Exp 01/16/2019 060505146 115,135 18,660,498 SH   DFND 1 18,660,498 0 0
BANK OF AMERICA CORPORATION * W Exp 10/28/2018 060505153 4,770 9,261,800 SH   DFND 1 9,261,800 0 0
BROADCOM CORP CL A 111320107 216,078 4,196,500 SH   DFND 1 4,196,500 0 0
CAESARS ACQUISITION CO CL A ADDED 12768T103 90,535 13,159,098 SH   DFND 1 13,159,098 0 0
CAESARS ENTMT CORP COM 127686103 88,485 14,458,300 SH   DFND 1 14,458,300 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 296,856 12,400,000 SH   DFND 1 12,400,000 0 0
COBALT INTL ENERGY INC COM 19075F106 405,403 41,751,100 SH   DFND 1 41,751,100 0 0
COBALT INTL ENERGY INC NOTE 2.625%12/001/2019 19075FAA4 72,528 98,260,000 SH   DFND 1 98,260,000 0 0
COBALT INTL ENERGY INC NOTE 3.125% 5/15/2024 ADDED 19075FAB2 159,078 219,229,000 SH   DFND 1 219,229,000 0 0
COMPUTER SCIENCES CORP COM 205363104 278,642 4,245,000 SH   DFND 1 4,245,000 0 0
CYBERONICS INC COM 23251P102 102,497 1,723,800 SH   DFND 1 1,723,800 0 0
DEX MEDIA INC NEW COM 25213A107 1,629 2,231,132 SH   DFND 1 2,231,132 0 0
DIRECTV COM 25490A309 1,057,806 11,400,000 SH   DFND 1 11,400,000 0 0
ENZYMOTEC LTD SHS M4059L101 35,390 4,238,275 SH   DFND 1 4,238,275 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 894,608 47,661,591 SH   DFND 1 47,661,591 0 0
FELCOR LODGING TR INC COM 31430F101 35,297 3,572,600 SH   DFND 1 3,572,600 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 551,918 17,821,040 SH   DFND 1 17,821,040 0 0
GULF COAST ULTRA DEEP RTY TR ROYALTY TR UNT 40222T104 1,539 2,197,900 SH   DFND 1 2,197,900 0 0
HCA HOLDINGS INC COM 40412C101 427,464 4,711,900 SH   DFND 1 4,711,900 0 0
HOWARD HUGHES CORP COM 44267D107 45,215 315,000 SH   DFND 1 315,000 0 0
HOUGHTON MIFFLIN HARCOURT CO COM ADDED 44157R109 308,176 12,229,224 SH   DFND 1 12,229,224 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 7,637 23,058,000 SH   DFND 1 23,058,000 0 0
IAMGOLD CORP COM 450913108 7,728 3,863,912 SH   DFND 1 3,863,912 0 0
INTERXION HOLDING N.V SHS N47279109 70,505 2,549,900 SH   DFND 1 2,549,900 0 0
KAMADA LTD SHS ADDED M6240T109 2,824 739,356 SH   DFND 1 739,356 0 0
MALLINCKRODT PUB LTD CO SHS ADDED G5785G107 776,268 6,594,193 SH   DFND 1 6,594,193 0 0
MGIC INVT CORP WIS COM 552848103 135,450 11,902,500 SH   DFND 1 11,902,500 0 0
MGIC INVT CORP WIS NOTE 2.000% 4/01/2020 552848AE3 248,918 149,500,000 SH   DFND 1 149,500,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 113,566 6,222,800 SH   DFND 1 6,222,800 0 0
MYLAN N V SHS EURO N59465109 1,487,020 21,913,061 SH   DFND 1 21,913,061 0 0
NOVAGOLD RES INC COM NEW 66987E206 121,808 35,616,357 SH   DFND 1 35,616,357 0 0
NOVACOPPER INC COM 66988K102 5,918 11,835,319 SH   DFND 1 11,835,319 0 0
OASIS PETE INC NEW COM 674215108 139,075 8,774,466 SH   DFND 1 8,774,466 0 0
OI S.A. SPN ADR PFD NEW 670851401 48,726 25,510,800 SH   DFND 1 25,510,800 0 0
OI S.A. SPN ADR NEW 670851302 6,444 3,271,200 SH   DFND 1 3,271,200 0 0
OUTFRONT MEDIA INC COM 69007J106 108,153 4,285,000 SH   DFND 1 4,285,000 0 0
PHARMERICA CORP COM 71714F104 16,650 500,000 SH   DFND 1 500,000 0 0
POST HLDGS INC COM 737446104 155,103 2,876,000 SH   DFND 1 2,876,000 0 0
RANDGOLD RES LTD ADR 752344309 45,524 679,967 SH   DFND 1 679,967 0 0
RADIAN GROUP INC COM 750236101 112,023 5,971,400 SH   DFND 1 5,971,400 0 0
RADIAN GROUP INC NOTE 2.250% 3/01/2019 750236AN1 141,893 79,968,000 SH   DFND 1 79,968,000 0 0
REALOGY HLDGS CORP COM 75605Y106 329,016 7,042,300 SH   DFND 1 7,042,300 0 0
SHIRE PLC SPONSORED ADR 82481R106 1,713,396 7,095,100 SH   DFND 1 7,095,100 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,037,720 9,234,852 SH   DFND 1 9,234,852 0 0
SPRINT CORP COM COM SER 1 ADDED 85207U105 10,846 2,378,400 SH   DFND 1 2,378,400 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 973,031 11,999,400 SH   DFND 1 11,999,400 0 0
SYNTHESIS ENERGY SYS INC COM 871628103 14,300 10,000,000 SH   DFND 1 10,000,000 0 0
SYNERGY PHARMACEUTICALS DEL COM NEW 871639308 47,986 5,781,500 SH   DFND 1 5,781,500 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 120,003 2,030,500 SH   DFND 1 2,030,500 0 0
TIME WARNER CABLE INC COM 88732J207 1,447,275 8,123,000 SH   DFND 1 8,123,000 0 0
TIM PARTICIPACOES S A SPONSORED ADR 88706P205 98,160 6,000,000 SH   DFND 1 6,000,000 0 0
T-MOBILE US INC COM ADDED 872590104 924,467 23,844,900 SH   DFND 1 23,844,900 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 1,999,350 9,000,000 SH   DFND 1 9,000,000 0 0
VANDA PHARMACEUTICALS INC COM 921659108 50,081 3,946,500 SH   DFND 1 3,946,500 0 0
WHITING PETE CORP NEW COM 966387102 417,258 12,418,400 SH   DFND 1 12,418,400 0 0
WHITEWAVE FOODS CO COM CL A 966244105 127,088 2,600,000 SH   DFND 1 2,600,000 0 0
LYON WILLIAM HOMES CL A NEW 552074700 85,293 3,322,666 SH   DFND 1 3,322,666 0 0