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
A H BELO CORP COM CL A 001282102 340 67,899 SH   DFND 1 67,899 0 0
A H BELO CORP COM CL A 001282102 114 22,835 SH   SOLE   22,835 0 0
AGL RES INC COM 001204106 239 3,750 SH   DFND 1 3,750 0 0
AGL RES INC COM 001204106 718 11,250 SH   SOLE   11,250 0 0
AIRGAS INC COM 009363102 1,608 11,625 SH   DFND 1 11,625 0 0
AIRGAS INC COM 009363102 2,542 18,375 SH   SOLE   18,375 0 0
ALLERGAN PLC SHS G0177J108 469 1,500 SH   DFND 1 1,500 0 0
ALLERGAN PLC SHS G0177J108 1,094 3,500 SH   SOLE   3,500 0 0
AMC NETWORKS INC CL A 00164V103 491 6,572 SH   DFND 1 6,572 0 0
AMC NETWORKS INC CL A 00164V103 158 2,116 SH   SOLE   2,116 0 0
APPLE INC COM 037833100 1,272 12,086 SH   DFND 1 12,086 0 0
APPLE INC COM 037833100 349 3,314 SH   SOLE   3,314 0 0
ASSOCIATED CAP GROUP INC CL A 045528106 1,171 38,405 SH   DFND 1 38,405 0 0
ASSOCIATED CAP GROUP INC CL A 045528106 407 13,339 SH   SOLE   13,339 0 0
AVON PRODS INC COM 054303102 759 187,500 SH Call DFND 1 187,500 0 0
AVON PRODS INC COM 054303102 1,671 412,500 SH Call SOLE   412,500 0 0
BAKER HUGHES INC COM 057224107 2,250 48,750 SH   DFND 1 48,750 0 0
BAKER HUGHES INC COM 057224107 2,365 51,250 SH   SOLE   51,250 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 396 2 SH   SOLE   2 0 0
BIOMED REALTY TRUST INC COM 09063H107 800 33,750 SH   DFND 1 33,750 0 0
BIOMED REALTY TRUST INC COM 09063H107 1,337 56,450 SH   SOLE   56,450 0 0
BLOUNT INTL INC NEW COM 095180105 147 15,000 SH   DFND 1 15,000 0 0
BLOUNT INTL INC NEW COM 095180105 344 35,000 SH   SOLE   35,000 0 0
BOULDER BRANDS INC COM 101405108 165 15,000 SH   DFND 1 15,000 0 0
BOULDER BRANDS INC COM 101405108 274 25,000 SH   SOLE   25,000 0 0
BROADCOM CORP CL A 111320107 2,168 37,500 SH   DFND 1 37,500 0 0
BROADCOM CORP CL A 111320107 3,036 52,500 SH   SOLE   52,500 0 0
CABLE ONE INC COM 12685J105 1,446 3,335 SH   DFND 1 3,335 0 0
CABLE ONE INC COM 12685J105 569 1,312 SH   SOLE   1,312 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 1,741 54,567 SH   DFND 1 54,567 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 2,141 67,137 SH   SOLE   67,137 0 0
CAMBIUM LEARNING GRP INC COM 13201A107 243 50,047 SH   DFND 1 50,047 0 0
CAMBIUM LEARNING GRP INC COM 13201A107 89 18,418 SH   SOLE   18,418 0 0
CAMERON INTERNATIONAL CORP COM 13342B105 711 11,250 SH   DFND 1 11,250 0 0
CAMERON INTERNATIONAL CORP COM 13342B105 1,185 18,750 SH   SOLE   18,750 0 0
CAMPUS CREST CMNTYS INC COM 13466Y105 765 112,500 SH   DFND 1 112,500 0 0
CAMPUS CREST CMNTYS INC COM 13466Y105 1,177 173,018 SH   SOLE   173,018 0 0
CHEMTURA CORP COM NEW 163893209 205 7,500 SH   DFND 1 7,500 0 0
CHEMTURA CORP COM NEW 163893209 68 2,500 SH   SOLE   2,500 0 0
CHUBB CORP COM 171232101 597 4,500 SH   DFND 1 4,500 0 0
CHUBB CORP COM 171232101 729 5,500 SH   SOLE   5,500 0 0
CINCINNATI BELL INC NEW COM 171871106 2,577 715,769 SH   DFND 1 715,769 0 0
CINCINNATI BELL INC NEW COM 171871106 819 227,552 SH   SOLE   227,552 0 0
CLARCOR INC COM 179895107 393 7,916 SH   DFND 1 7,916 0 0
CLARCOR INC COM 179895107 126 2,536 SH   SOLE   2,536 0 0
CLECO CORP NEW COM 12561W105 1,136 21,750 SH   DFND 1 21,750 0 0
CLECO CORP NEW COM 12561W105 1,819 34,850 SH   SOLE   34,850 0 0
CONSOLIDATED COMM HLDGS INC COM 209034107 218 10,383 SH   DFND 1 10,383 0 0
CONSOLIDATED COMM HLDGS INC COM 209034107 73 3,499 SH   SOLE   3,499 0 0
CONSTANT CONTACT INC COM 210313102 1,316 45,000 SH   DFND 1 45,000 0 0
CONSTANT CONTACT INC COM 210313102 1,900 65,000 SH   SOLE   65,000 0 0
CROWN MEDIA HLDGS INC CL A 228411104 5,783 1,030,797 SH   DFND 1 1,030,797 0 0
CROWN MEDIA HLDGS INC CL A 228411104 2,019 359,991 SH   SOLE   359,991 0 0
CYRUSONE INC COM 23283R100 1,034 27,610 SH   DFND 1 27,610 0 0
CYRUSONE INC COM 23283R100 345 9,202 SH   SOLE   9,202 0 0
DIAMOND FOODS INC COM 252603105 578 15,000 SH   DFND 1 15,000 0 0
DIAMOND FOODS INC COM 252603105 964 25,000 SH   SOLE   25,000 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 799 29,947 SH   DFND 1 29,947 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 274 10,282 SH   SOLE   10,282 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 440 17,452 SH   DFND 1 17,452 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 153 6,062 SH   SOLE   6,062 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 771 8,273 SH   DFND 1 8,273 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 245 2,624 SH   SOLE   2,624 0 0
DYAX CORP COM 26746E103 1,270 33,750 SH   DFND 1 33,750 0 0
DYAX CORP COM 26746E103 1,175 31,250 SH   SOLE   31,250 0 0
E M C CORP MASS COM 268648102 385 15,000 SH   DFND 1 15,000 0 0
E M C CORP MASS COM 268648102 642 25,000 SH   SOLE   25,000 0 0
EQUINIX INC COM PAR $0.001 29444U700 3,554 11,754 SH   DFND 1 11,754 0 0
EQUINIX INC COM PAR $0.001 29444U700 1,145 3,784 SH   SOLE   3,784 0 0
EZCHIP SEMICONDUCTOR LIMITED ORD M4146Y108 742 30,000 SH   DFND 1 30,000 0 0
EZCHIP SEMICONDUCTOR LIMITED ORD M4146Y108 988 40,000 SH   SOLE   40,000 0 0
FAIRCHILD SEMICONDUCTOR INTL COM 303726103 311 15,000 SH   DFND 1 15,000 0 0
FAIRCHILD SEMICONDUCTOR INTL COM 303726103 103 5,000 SH   SOLE   5,000 0 0
FIDELITY & GTY LIFE COM 315785105 254 10,000 SH   SOLE   10,000 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 820 14,777 SH   DFND 1 14,777 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 254 4,570 SH   SOLE   4,570 0 0
FRANKLIN RES INC COM 354613101 276 7,500 SH   DFND 1 7,500 0 0
FRANKLIN RES INC COM 354613101 92 2,500 SH   SOLE   2,500 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 898 192,294 SH   DFND 1 192,294 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 289 61,898 SH   SOLE   61,898 0 0
FURMANITE CORPORATION COM 361086101 133 20,000 SH   SOLE   20,000 0 0
GAMCO INVESTORS INC COM 361438104 1,186 38,205 SH   DFND 1 38,205 0 0
GAMCO INVESTORS INC COM 361438104 411 13,239 SH   SOLE   13,239 0 0
GANNETT CO INC COM 36473H104 3,751 230,283 SH   DFND 1 230,283 0 0
GANNETT CO INC COM 36473H104 1,165 71,518 SH   SOLE   71,518 0 0
GENUINE PARTS CO COM 372460105 1,076 12,522 SH   DFND 1 12,522 0 0
GENUINE PARTS CO COM 372460105 358 4,178 SH   SOLE   4,178 0 0
HEALTH NET INC COM 42222G108 1,027 15,000 SH   DFND 1 15,000 0 0
HEALTH NET INC COM 42222G108 1,711 25,000 SH   SOLE   25,000 0 0
KRAFT HEINZ CO COM 500754106 273 3,750 SH   DFND 1 3,750 0 0
KRAFT HEINZ CO COM 500754106 91 1,250 SH   SOLE   1,250 0 0
HUTCHINSON TECHNOLOGY INC COM 448407106 224 62,348 SH   SOLE   62,348 0 0
INTERNAP CORP COM PAR $.001 45885A300 1,398 218,381 SH   DFND 1 218,381 0 0
INTERNAP CORP COM PAR $.001 45885A300 466 72,793 SH   SOLE   72,793 0 0
INTERXION HOLDING N.V SHS N47279109 1,335 44,291 SH   DFND 1 44,291 0 0
INTERXION HOLDING N.V SHS N47279109 415 13,760 SH   SOLE   13,760 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 12,670 112,500 SH Put DFND 1 112,500 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 4,223 37,500 SH Put SOLE   37,500 0 0
JARDEN CORP COM 471109108 1,142 20,000 SH   SOLE   20,000 0 0
JOURNAL MEDIA GROUP INC COM 48114A109 266 22,125 SH   SOLE   22,125 0 0
KAR AUCTION SVCS INC COM 48238T109 300 8,093 SH   DFND 1 8,093 0 0
KAR AUCTION SVCS INC COM 48238T109 90 2,428 SH   SOLE   2,428 0 0
KEURIG GREEN MTN INC COM 49271M100 900 10,000 SH   SOLE   10,000 0 0
KLA-TENCOR CORP COM 482480100 1,387 20,000 SH   SOLE   20,000 0 0
LGL GROUP INC COM 50186A108 84 22,719 SH   DFND 1 22,719 0 0
LGL GROUP INC COM 50186A108 24 6,681 SH   SOLE   6,681 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 1,484 9,172 SH   DFND 1 9,172 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 482 2,981 SH   SOLE   2,981 0 0
MEDASSETS INC COM 584045108 348 11,250 SH   DFND 1 11,250 0 0
MEDASSETS INC COM 584045108 735 23,750 SH   SOLE   23,750 0 0
MEDIA GEN INC NEW COM 58441K100 1,160 71,808 SH   DFND 1 71,808 0 0
MEDIA GEN INC NEW COM 58441K100 853 52,853 SH   SOLE   52,853 0 0
MERCURY GENL CORP NEW COM 589400100 340 7,310 SH   DFND 1 7,310 0 0
MERCURY GENL CORP NEW COM 589400100 112 2,390 SH   SOLE   2,390 0 0
MICROSOFT CORP COM 594918104 1,414 25,495 SH   DFND 1 25,495 0 0
MICROSOFT CORP COM 594918104 418 7,521 SH   SOLE   7,521 0 0
MINDRAY MEDICAL INTL LTD SPON ADR 602675100 254 9,375 SH   DFND 1 9,375 0 0
MINDRAY MEDICAL INTL LTD SPON ADR 602675100 288 10,625 SH   SOLE   10,625 0 0
MSG NETWORK INC CL A 553573106 1,508 72,516 SH   DFND 1 72,516 0 0
MSG NETWORK INC CL A 553573106 498 23,943 SH   SOLE   23,943 0 0
NETWORK 1 TECHNOLOGIES INC COM 64121N109 520 248,566 SH   DFND 1 248,566 0 0
NETWORK 1 TECHNOLOGIES INC COM 64121N109 796 381,247 SH   SOLE   381,247 0 0
NEWS CORP NEW CL A 65249B109 1,249 93,487 SH   DFND 1 93,487 0 0
NEWS CORP NEW CL A 65249B109 416 31,162 SH   SOLE   31,162 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 1,747 29,766 SH   DFND 1 29,766 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 583 9,922 SH   SOLE   9,922 0 0
NISKA GAS STORAGE PARTNERS L UNIT LTD LIABI 654678101 564 180,251 SH   SOLE   180,251 0 0
NTELOS HLDGS CORP COM NEW 67020Q305 207 22,616 SH   DFND 1 22,616 0 0
NTELOS HLDGS CORP COM NEW 67020Q305 1,747 191,196 SH   SOLE   191,196 0 0
PARAMOUNT GOLD NEV CORP COM 69924M109 14 13,566 SH   SOLE   13,566 0 0
PARAMOUNT GOLD NEV CORP COM 69924M109 12 11,250 SH   DFND 1 11,250 0 0
PARTNERRE LTD COM G6852T105 2,620 18,750 SH   DFND 1 18,750 0 0
PARTNERRE LTD COM G6852T105 2,970 21,250 SH   SOLE   21,250 0 0
PEPCO HOLDINGS INC COM 713291102 293 11,250 SH   DFND 1 11,250 0 0
PEPCO HOLDINGS INC COM 713291102 487 18,750 SH   SOLE   18,750 0 0
PHOENIX COS INC NEW COM NEW 71902E604 2,158 58,259 SH   DFND 1 58,259 0 0
PHOENIX COS INC NEW COM NEW 71902E604 2,152 58,102 SH   SOLE   58,102 0 0
PIEDMONT NAT GAS INC COM 720186105 285 5,000 SH   SOLE   5,000 0 0
PLUM CREEK TIMBER CO INC COM 729251108 716 15,000 SH   DFND 1 15,000 0 0
PLUM CREEK TIMBER CO INC COM 729251108 716 15,000 SH   SOLE   15,000 0 0
PMC-SIERRA INC COM 69344F106 436 37,500 SH   DFND 1 37,500 0 0
PMC-SIERRA INC COM 69344F106 726 62,500 SH   SOLE   62,500 0 0
PRECISION CASTPARTS CORP COM 740189105 522 2,250 SH   DFND 1 2,250 0 0
PRECISION CASTPARTS CORP COM 740189105 1,937 8,350 SH   SOLE   8,350 0 0
REALD INC COM 75604L105 152 14,405 SH   DFND 1 14,405 0 0
REALD INC COM 75604L105 764 72,462 SH   SOLE   72,462 0 0
RENTECH NITROGEN PARTNERS L COM UNIT 760113100 190 17,909 SH   SOLE   17,909 0 0
RITE AID CORP COM 767754104 118 15,000 SH   DFND 1 15,000 0 0
RITE AID CORP COM 767754104 2,940 375,000 SH Call DFND 1 375,000 0 0
RITE AID CORP COM 767754104 39 5,000 SH   SOLE   5,000 0 0
RITE AID CORP COM 767754104 980 125,000 SH Call SOLE   125,000 0 0
ROSS STORES INC COM 778296103 700 13,010 SH   DFND 1 13,010 0 0
ROSS STORES INC COM 778296103 226 4,190 SH   SOLE   4,190 0 0
SCOTTS MIRACLE GRO CO CL A 810186106 451 6,997 SH   DFND 1 6,997 0 0
SCOTTS MIRACLE GRO CO CL A 810186106 142 2,203 SH   SOLE   2,203 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 615 11,132 SH   DFND 1 11,132 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 193 3,510 SH   SOLE   3,510 0 0
SHENANDOAH TELECOMMUNICATION COM 82312B106 424 9,856 SH   DFND 1 9,856 0 0
SHENANDOAH TELECOMMUNICATION COM 82312B106 120 2,781 SH   SOLE   2,781 0 0
SIRONA DENTAL SYSTEMS INC COM 82966C103 986 9,000 SH   DFND 1 9,000 0 0
SIRONA DENTAL SYSTEMS INC COM 82966C103 1,205 11,000 SH   SOLE   11,000 0 0
SOLERA HOLDINGS INC COM 83421A104 1,275 23,250 SH   DFND 1 23,250 0 0
SOLERA HOLDINGS INC COM 83421A104 1,247 22,750 SH   SOLE   22,750 0 0
STANCORP FINL GROUP INC COM 852891100 2,306 20,250 SH   DFND 1 20,250 0 0
STANCORP FINL GROUP INC COM 852891100 2,249 19,750 SH   SOLE   19,750 0 0
STARZ COM SER B 85571Q201 249 7,412 SH   SOLE   7,412 0 0
STARZ COM SER A 85571Q102 296 8,835 SH   DFND 1 8,835 0 0
STARZ COM SER A 85571Q102 104 3,118 SH   SOLE   3,118 0 0
SYMETRA FINL CORP COM 87151Q106 1,072 33,750 SH   DFND 1 33,750 0 0
SYMETRA FINL CORP COM 87151Q106 1,628 51,250 SH   SOLE   51,250 0 0
T MOBILE US INC COM 872590104 264 6,741 SH   DFND 1 6,741 0 0
T MOBILE US INC COM 872590104 88 2,247 SH   SOLE   2,247 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 827 50,000 SH   SOLE   50,000 0 0
TECO ENERGY INC COM 872375100 267 10,000 SH   SOLE   10,000 0 0
TEGNA INC COM 87901J105 2,380 93,256 SH   DFND 1 93,256 0 0
TEGNA INC COM 87901J105 744 29,168 SH   SOLE   29,168 0 0
TELECOMMUNICATION SYS INC CL A 87929J103 186 37,500 SH   DFND 1 37,500 0 0
TELECOMMUNICATION SYS INC CL A 87929J103 314 63,103 SH   SOLE   63,103 0 0
TIME WARNER CABLE INC COM 88732J207 418 2,250 SH   DFND 1 2,250 0 0
TIME WARNER CABLE INC COM 88732J207 510 2,750 SH   SOLE   2,750 0 0
TIME WARNER INC COM 887317303 1,938 29,975 SH   DFND 1 29,975 0 0
TIME WARNER INC COM 887317303 504 7,793 SH   SOLE   7,793 0 0
TOOTSIE ROLL INDS INC COM 890516107 704 22,289 SH   DFND 1 22,289 0 0
TOOTSIE ROLL INDS INC COM 890516107 222 7,024 SH   SOLE   7,024 0 0
TRIBUNE PUBG CO COM 896082104 128 13,849 SH   DFND 1 13,849 0 0
TRIBUNE PUBG CO COM 896082104 42 4,616 SH   SOLE   4,616 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 362 13,342 SH   DFND 1 13,342 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 121 4,458 SH   SOLE   4,458 0 0
UNITED STATES OIL FUND LP UNITS 91232N108 4,125 375,000 SH Call DFND 1 375,000 0 0
UNITED STATES OIL FUND LP UNITS 91232N108 1,375 125,000 SH Call SOLE   125,000 0 0
UTI WORLDWIDE INC ORD G87210103 137 19,425 SH   DFND 1 19,425 0 0
UTI WORLDWIDE INC ORD G87210103 1,097 156,136 SH   SOLE   156,136 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 1,271 12,500 SH Call SOLE   12,500 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 279 2,750 SH   SOLE   2,750 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 3,812 37,500 SH Call DFND 1 37,500 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 839 8,250 SH   DFND 1 8,250 0 0
VIACOM INC NEW CL A 92553P102 2,357 53,579 SH   DFND 1 53,579 0 0
VIACOM INC NEW CL A 92553P102 837 19,032 SH   SOLE   19,032 0 0
VIACOM INC NEW CL B 92553P201 4,288 104,179 SH   DFND 1 104,179 0 0
VIACOM INC NEW CL B 92553P201 9,574 232,600 SH Call DFND 1 232,600 0 0
VIACOM INC NEW CL B 92553P201 1,401 34,027 SH   SOLE   34,027 0 0
VIACOM INC NEW CL B 92553P201 3,185 77,400 SH Call SOLE   77,400 0 0
VIVINT SOLAR INC COM 92854Q106 813 85,000 SH   SOLE   85,000 0 0
WAUSAU PAPER CORP COM 943315101 230 22,500 SH   DFND 1 22,500 0 0
WAUSAU PAPER CORP COM 943315101 505 49,300 SH   SOLE   49,300 0 0
WMIH CORP COM 92936P100 194 75,000 SH   DFND 1 75,000 0 0
WMIH CORP COM 92936P100 65 25,000 SH   SOLE   25,000 0 0
YOUKU TUDOU INC SPONSORED ADR 98742U100 610 22,500 SH   DFND 1 22,500 0 0
YOUKU TUDOU INC SPONSORED ADR 98742U100 1,289 47,500 SH   SOLE   47,500 0 0