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
CHIQUITA BRANDS INTL INC COM 170032809 506 40,000 SH   DFND 1, 2 40,000 0 0
CORRECTIONS CORP AMER NEW COM NEW 22025Y407 5,183 150,000 SH   DFND 1, 2 150,000 0 0
COVANTA HLDG CORP COM 22282E102 2,486 116,261 SH   DFND 1, 2 116,261 0 0
DISCOVERY LABORATORIES INC N COM NEW 254668403 240 122,352 SH   DFND 1, 2 122,352 0 0
DST SYS INC DEL COM 233326107 2,963 39,298 SH   DFND 1, 2 39,298 0 0
EVEREST RE GROUP LTD COM G3223R108 11,539 79,358 SH   DFND 1, 2 79,358 0 0
EXPEDITORS INTL WASH INC COM 302130109 2,203 50,000 SH   DFND 1, 2 50,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 7,642 123,664 SH   DFND 1, 2 123,664 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 4,962 150,000 SH   DFND 1, 2 150,000 0 0
GEO GROUP INC COM 36159R103 4,988 150,000 SH   DFND 1, 2 150,000 0 0
GOL LINHAS AEREAS INTLG S A SP ADR REP PFD 38045R107 3,260 666,666 SH   DFND 1, 2 666,666 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 5,039 678,138 SH   DFND 1, 2 678,138 0 0
KORN FERRY INTL COM NEW 500643200 1,070 50,000 SH   DFND 1, 2 50,000 0 0
MARTEN TRANS LTD COM 573075108 4,661 271,556 SH   DFND 1, 2 271,556 0 0
METLIFE INC COM 59156R108 5,836 124,313 SH   DFND 1, 2 124,313 0 0
MONDELEZ INTL INC CL A 609207105 2,485 79,096 SH   DFND 1, 2 79,096 0 0
MYLAN INC COM 628530107 8,854 231,964 SH   DFND 1, 2 231,964 0 0
MYR GROUP INC DEL COM 55405W104 687 28,272 SH   DFND 1, 2 28,272 0 0
NCR CORP NEW COM 62886E108 4,225 106,661 SH   DFND 1, 2 106,661 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 1,217 65,163 SH   DFND 1, 2 65,163 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 16,039 171,467 SH   DFND 1, 2 171,467 0 0
ORMAT TECHNOLOGIES INC COM 686688102 463 17,299 SH   DFND 1, 2 17,299 0 0
PENN WEST PETE LTD NEW COM 707887105 5,565 500,000 SH   DFND 1, 2 500,000 0 0
PVH CORP COM 693656100 1,187 10,000 SH   DFND 1, 2 10,000 0 0
RESPONSYS INC COM 761248103 413 25,000 SH   DFND 1, 2 25,000 0 0
SCHLUMBERGER LTD COM 806857108 4,417 49,984 SH   DFND 1, 2 49,984 0 0
SOUTH JERSEY INDS INC COM 838518108 1,533 26,171 SH   DFND 1, 2 26,171 0 0
SOUTHWEST GAS CORP COM 844895102 2,179 43,582 SH   DFND 1, 2 43,582 0 0
SOUTHWESTERN ENERGY CO COM 845467109 5,673 155,943 SH   DFND 1, 2 155,943 0 0
SPDR GOLD TRUST COM 78463V107 1,145 8,933 SH   DFND 1, 2 8,933 0 0
THE ADT CORPORATION COM 00101J106 1,970 48,442 SH   DFND 1, 2 48,442 0 0
TOWERS WATSON & CO CL A 891894107 3,790 35,436 SH   DFND 1, 2 35,436 0 0
VULCAN MATLS CO COM 929160109 2,591 50,000 SH   DFND 1, 2 50,000 0 0