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 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
WEIBO CORP SPONSORED ADR 948596101 24,302 1,353,880 SH   DFND 1 1,353,880 0 0
YY INC ADS REPCOM CLA 98426T106 10,686 173,500 SH   DFND 1 173,500 0 0
CREDIT SUISSE NASSAU BRH INVRS VIX STERM 22542D795 924 35,700 SH   DFND 1 35,700 0 0
JD COM INC SPON ADR CL A 47215P106 13,552 511,400 SH   DFND 1 511,400 0 0
BAIDU INC SPON ADR REP A 056752108 5,726 30,000 SH   DFND 1 30,000 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 443 1,700 SH   DFND 1 1,700 0 0
NETEASE INC SPONSORED ADR 64110W102 259 1,800 SH   DFND 1 1,800 0 0
PHOENIX NEW MEDIA LTD SPONSORED ADS 71910C103 6,221 1,398,064 SH   DFND 1 1,398,064 0 0
BARCLAYS BK PLC IPATH SnP500 VIX 06742E711 5,906 335,200 SH   DFND 1 335,200 0 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 2,901 466,343 SH   DFND 1 466,343 0 0
SOUFUN HLDGS LTD ADR 836034108 5,172 863,468 SH   DFND 1 863,468 0 0
PROSHARES TR II SHT VIX ST TRM 74347W627 920 18,200 SH   DFND 1 18,200 0 0
QIHOO 360 TECHNOLOGY CO LTD ADS 74734M109 13,584 179,800 SH   DFND 1 179,800 0 0
SPDR SERIES TRUST SnP BIOTECH 78464A870 444 8,600 SH   DFND 1 8,600 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 5,317 45,200 SH   DFND 1 45,200 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 11,855 150,000 SH   DFND 1 150,000 0 0
VIPSHOP HLDGS LTD SPONSORED ADR 92763W103 244 18,900 SH   DFND 1 18,900 0 0
DISNEY WALT CO COM DISNEY 254687106 1,291 13,000 SH   DFND 1 13,000 0 0
ABBVIE INC COM 00287Y109 545 9,538 SH   DFND 1 9,538 0 0