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
IRON MTN INC CALL 462846906 1,112 9,670 SH Call DFND 1 0 9,670 0
LAMAR ADVERTISING CO CALL 512815901 1,175 5,000 SH Call DFND 1 0 5,000 0
MCKESSON CORP CALL 58155Q903 5,379 1,650 SH Call DFND 1 0 1,650 0
SPRINT CORP CALL 85207U905 2,151 7,468 SH Call DFND 1 0 7,468 0
TIME WARNER CABLE INC CALL 88732J907 1,040 842 SH Call DFND 1 0 842 0
AMERICAN INTL GROUP INC COM 026874784 21,379 427,498 SH   DFND 1 0 427,498 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 91,274 6,510,284 SH   DFND 1 0 6,510,284 0
ANADARKO PETE CORP COM 032511107 21,437 252,910 SH   DFND 1 0 252,910 0
ATLAS ENERGY LP COM UNITS LP 04930A104 3,228 75,000 SH   DFND 1 0 75,000 0
ATLAS PIPELINE PARTNERS LP UNIT LP INT 049392103 1,808 56,300 SH   DFND 1 0 56,300 0
BROOKDALE SR LIVING INC COM 112463104 35,885 1,070,874 SH   DFND 1 0 1,070,874 0
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 2,849 135,866 SH   DFND 1 0 135,866 0
BUILDERS FIRSTSOURCE INC COM 12008R107 1,547 170,000 SH   DFND 1 0 170,000 0
CARMIKE CINEMAS INC COM 143436400 2,986 100,000 SH   DFND 1 0 100,000 0
CARRIAGE SVCS INC COM 143905107 5,023 275,378 SH   DFND 1 0 275,378 0
CINEMARK HOLDINGS INC COM 17243V102 1,741 60,000 SH   DFND 1 0 60,000 0
COPA HOLDINGS SA CL A P31076105 17,423 120,000 SH   DFND 1 0 120,000 0
CREE INC COM 225447101 1,866 33,000 SH   DFND 1 0 33,000 0
DEVON ENERGY CORP COM 25179M103 49,945 746,223 SH   DFND 1 0 746,223 0
EMERITUS CORP COM 291005106 21,927 697,413 SH   DFND 1 0 697,413 0
ERA GROUP INC COM 26885G109 2,491 85,000 SH   DFND 1 0 85,000 0
EROS INTL PLC SHS G3788M114 3,116 193,897 SH   DFND 1 0 193,897 0
GENERAL MTRS CO COM 37045V100 17,004 494,027 SH   DFND 1 0 494,027 0
HANNON ARMSTRONG SUST INFR C COM 41068X100 2,095 146,000 SH   DFND 1 0 146,000 0
HUB GROUP INC CL A 443320106 1,200 30,000 SH   DFND 1 0 30,000 0
LAMAR ADVERTISING CO CL A 512815101 79,172 1,552,389 SH   DFND 1 0 1,552,389 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 8,320 200,000 SH   DFND 1 0 200,000 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 3,723 65,000 SH   DFND 1 0 65,000 0
MASTERCARD INC CL A 57636Q104 1,868 25,000 SH   DFND 1 0 25,000 0
METHANEX CORP COM 59151K108 4,197 65,634 SH   DFND 1 0 65,634 0
NATIONSTAR MTG HLDGS INC COM 63861C109 3,895 120,000 SH   DFND 1 0 120,000 0
NEW MEDIA INVT GROUP INC COM 64704V106 380 25,267 SH   DFND 1 0 25,267 0
NEWCASTLE INVT CORP COM 65105M108 2,678 569,782 SH   DFND 1 0 569,782 0
NEXTERA ENERGY INC COM 65339F101 98,768 1,032,920 SH   DFND 1 0 1,032,920 0
NORTHSTAR RLTY FIN CORP COM 66704R100 25,221 1,562,653 SH   DFND 1 0 1,562,653 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 849 39,600 SH   DFND 1 0 39,600 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,179 65,000 SH   DFND 1 0 65,000 0
POPEYES LA KITCHEN INC COM 732872106 3,251 80,000 SH   DFND 1 0 80,000 0
POWERSECURE INTL INC COM 73936N105 2,930 125,000 SH   DFND 1 0 125,000 0
QUINPARIO ACQUISITION CORP UNIT 74874R207 8,175 750,000 SH   DFND 1 0 750,000 0
RIGNET INC COM 766582100 6 115 SH   DFND 1 0 115 0
SEMGROUP CORP CL A 81663A105 31,172 474,608 SH   DFND 1 0 474,608 0
SERVICE CORP INTL COM 817565104 52,778 2,654,820 SH   DFND 1 0 2,654,820 0
SIX FLAGS ENTMT CORP COM 83001A102 2,008 50,000 SH   DFND 1 0 50,000 0
STERLING CONSTRUCTION CO INC COM 859241101 663 76,481 SH   DFND 1 0 76,481 0
SUNCOKE ENERGY PARTNERS LP COMUNIT REP LT 86722Y101 1,822 62,300 SH   DFND 1 0 62,300 0
SWIFT TRANSN CO CL A 87074U101 1,114 45,000 SH   DFND 1 0 45,000 0
TEEKAY CORPORATION COM Y8564W103 23,528 418,351 SH   DFND 1 0 418,351 0
TIME WARNER CABLE INC COM 88732J207 171,235 1,248,249 SH   DFND 1 0 1,248,249 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 58,412 1,876,985 SH   DFND 1 0 1,876,985 0
VERIZON COMMUNICATIONS INC COM 92343V104 27,023 568,065 SH   DFND 1 0 568,065 0
WI-LAN INC COM 928972108 11,337 3,789,883 SH   DFND 1 0 3,789,883 0
SUSSER PETE PARTNERS LP COM U REP LP 869239103 2,543 72,341 SH   DFND 1 0 72,341 0
TRIPLEPOINT VENTR GRW BDC CO COM 89677Y100 2,842 175,000 SH   DFND 1 0 175,000 0
BLACKHAWK NETWORK HLDGS INC PUT 09238E954 1,136 1,600 SH Put DFND 1 0 1,600 0
ISHARES PUT 464287959 223 13,800 SH Put DFND 1 0 13,800 0
SELECT SECTOR SPDR TR PUT 81369Y955 94 18,722 SH Put DFND 1 0 18,722 0
GENERAL MTRS CO W EXP 07/10/2019 37045V126 10,300 589,944 SH   DFND 1 0 589,944 0
AES CORP COM 00130H105 1,928 135,000 SH   DFND 1 0 135,000 0
C&J ENERGY SVCS INC COM 12467B304 4,082 140,000 SH   DFND 1 0 140,000 0
CONCHO RES INC COM 20605P101 2,450 20,000 SH   DFND 1 0 20,000 0
CONTINENTAL RESOURCES INC COM 212015101 2,113 17,000 SH   DFND 1 0 17,000 0
ENLINK MIDSTREAM LLC COM UNIT REP LTD 29336T100 4,063 119,705 SH   DFND 1 0 119,705 0
EQT CORP COM 26884L109 1,455 15,000 SH   DFND 1 0 15,000 0
HELMERICH & PAYNE INC COM 423452101 2,151 20,000 SH   DFND 1 0 20,000 0
MARATHON PETE CORP COM 56585A102 3,220 37,000 SH   DFND 1 0 37,000 0
NRG ENERGY INC COM 629377508 2,369 74,500 SH   DFND 1 0 74,500 0
OCEANEERING INTL INC COM 675232102 3,521 49,000 SH   DFND 1 0 49,000 0
PACIFIC DRILLING SA LUXEMBOU REG SHS L7257P106 2,176 200,000 SH   DFND 1 0 200,000 0
PHILLIPS 66 COM 718546104 3,237 42,000 SH   DFND 1 0 42,000 0
PIONEER NAT RES CO COM 723787107 1,497 8,000 SH   DFND 1 0 8,000 0
RANGE RES CORP COM 75281A109 2,489 30,000 SH   DFND 1 0 30,000 0
SEMPRA ENERGY COM 816851109 2,322 24,000 SH   DFND 1 0 24,000 0
TARGA RES CORP COM 87612G101 4,566 46,000 SH   DFND 1 0 46,000 0
WESTERN REFNG INC COM 959319104 1,930 50,000 SH   DFND 1 0 50,000 0
WHITING PETE CORP COM 966387102 3,470 50,000 SH   DFND 1 0 50,000 0
SELECT SECTOR SPDR TR PUT 81369Y956 469 7,000 SH Put DFND 1 0 7,000 0
SPDR SERIES TRUST PUT 78464A950 63 3,000 SH Put DFND 1 0 3,000 0
RADIOSHACK CORP CALL 750438903 15 1,000 SH Call DFND 1 0 1,000 0
AIR PRODS & CHEMS INC COM 009158106 457 3,839 SH   DFND 1 0 3,839 0
COLONY FINL INC COM 19624R106 1,154 52,555 SH   DFND 1 0 52,555 0
DISCOVER FINL SVCS COM 254709108 2,116 36,361 SH   DFND 1 0 36,361 0
DOLLAR GEN CORP COM 256677105 472 8,505 SH   DFND 1 0 8,505 0
HCA HOLDINGS INC COM 40412C101 524 9,977 SH   DFND 1 0 9,977 0
ONEOK INC COM 682680103 1,376 23,220 SH   DFND 1 0 23,220 0
PFIZER INC COM 717081103 1,146 35,691 SH   DFND 1 0 35,691 0
SEADRILL PARTNERS LLC COMUNIT REP LB Y7545W109 1,200 40,000 SH   DFND 1 0 40,000 0
YAHOO INC COM 984332106 449 12,503 SH   DFND 1 0 12,503 0