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
BORGWARNER INC COM 099724106 21,109 384,145 SH   DFND 1,2 384,145 0 0
CNOVA N V SHS N20947102 388 49,100 SH   DFND 1,2 49,100 0 0
COPA HOLDINGS SA CL A P31076105 1,715 16,548 SH   DFND 1,2 16,548 0 0
DANA HLDG CORP COM 235825205 7,897 363,253 SH   DFND 1,2 363,253 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 17,051 234,480 SH   DFND 1,2 234,480 0 0
EVOGENE LTD SHS M4119S104 327 35,500 SH   DFND 1,2 35,500 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 892 57,560 SH   DFND 1,2 57,560 0 0
GENERAL MTRS CO COM 37045V100 16,897 484,028 SH   DFND 1,2 484,028 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 16,848 589,700 SH   DFND 1,2 589,700 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 1,386 75,400 SH   DFND 1,2 75,400 0 0
MARKET VECTORS ETF TR JR GOLD MINERS E 57061R544 1,276 53,333 SH   DFND 1,2 53,333 0 0
MELCO CROWN ENTMT LTD ADR 585464100 12,147 478,209 SH   DFND 1,2 478,209 0 0
PINNACLE ENTMT INC COM 723456109 901 40,485 SH   DFND 1,2 40,485 0 0
QIWI PLC SPON ADR REP B 74735M108 1,403 69,511 SH   DFND 1,2 69,511 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 7,166 303,016 SH   DFND 1,2 303,016 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 29,744 261,878 SH   DFND 1,2 261,878 0 0
TENNECO INC COM 880349105 14,796 261,365 SH   DFND 1,2 261,365 0 0
VIMPELCOM LTD SPONSORED ADR 92719A106 5,101 1,221,744 SH   DFND 1,2 1,221,744 0 0