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
APPROACH RESOURCES INC COM 03834A103 1,960 286,131 SH   DFND 1,2 286,131 0 0
ASBURY AUTOMOTIVE GROUP INC COM 043436104 30,775 339,601 SH   DFND 1,2 339,601 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 9,027 275,206 SH   DFND 1,2 275,206 0 0
BERRY PLASTICS GROUP INC COM 08579W103 7,827 241,582 SH   DFND 1,2 241,582 0 0
CENOVUS ENERGY INC COM 15135U109 14,483 904,631 SH   DFND 1,2 904,631 0 0
CHENIERE ENERGY INC COM NEW 16411R208 29,554 426,710 SH   DFND 1,2 426,710 0 0
CHESAPEAKE ENERGY CORP COM 165167107 6,493 581,300 SH Put DFND 1,2 581,300 0 0
COMSTOCK RES INC COM NEW 205768203 1,879 564,272 SH   DFND 1,2 564,272 0 0
CONSOLIDATED EDISON INC COM 209115104 5,080 87,769 SH   DFND 1,2 87,769 0 0
CONTINENTAL BLDG PRODS INC COM 211171103 1,540 72,657 SH   DFND 1,2 72,657 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 465 59,815 SH   DFND 1,2 59,815 0 0
DIAMONDBACK ENERGY INC COM 25278X109 13,887 184,227 SH   DFND 1,2 184,227 0 0
DOW CHEM CO COM 260543103 27,748 542,268 SH   DFND 1,2 542,268 0 0
DYNEGY INC NEW DEL COM 26817R108 14,607 499,377 SH   DFND 1,2 499,377 0 0
ENERGEN CORP COM 29265N108 27,123 397,121 SH   DFND 1,2 397,121 0 0
EXTERRAN HLDGS INC COM 30225X103 4,498 137,757 SH   DFND 1,2 137,757 0 0
FMC TECHNOLOGIES INC COM 30249U101 4,448 107,198 SH   DFND 1,2 107,198 0 0
GOLAR LNG LTD BERMUDA SHS G9456A100 3,086 65,930 SH   DFND 1,2 65,930 0 0
KIRBY CORP COM 497266106 5,002 65,243 SH   DFND 1,2 65,243 0 0
LINNCO LLC COM SHS LTD INT 535782106 1,380 145,987 SH   DFND 1,2 145,987 0 0
LSB INDS INC COM 502160104 3,532 86,495 SH   DFND 1,2 86,495 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 48,315 466,725 SH   DFND 1,2 466,725 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 29,014 351,126 SH   DFND 1,2 351,126 0 0
MAGNA INTL INC COM 559222401 23,107 411,970 SH   DFND 1,2 411,970 0 0
MARATHON PETE CORP COM 56585A102 3,404 65,068 SH   DFND 1,2 65,068 0 0
MARATHON PETE CORP COM 56585A102 15,201 290,600 SH Call DFND 1,2 290,600 0 0
MARKET VECTORS ETF TR OIL SVCS ETF 57060U191 10,992 314,970 SH   DFND 1,2 314,970 0 0
MARTIN MARIETTA MATLS INC COM 573284106 14,229 100,553 SH   DFND 1,2 100,553 0 0
MASCO CORP COM 574599106 13,009 487,790 SH   DFND 1,2 487,790 0 0
MOHAWK INDS INC COM 608190104 16,084 84,255 SH   DFND 1,2 84,255 0 0
MONSANTO CO NEW COM 61166W101 13,081 122,720 SH   DFND 1,2 122,720 0 0
OWENS CORNING NEW COM 690742101 24,256 588,035 SH   DFND 1,2 588,035 0 0
OWENS CORNING NEW COM 690742101 22,770 552,000 SH Call DFND 1,2 552,000 0 0
PARAGON OFFSHORE PLC SHS G6S01W108 866 794,427 SH   DFND 1,2 794,427 0 0
PDC ENERGY INC COM 69327R101 8,202 152,911 SH   DFND 1,2 152,911 0 0
PHILLIPS 66 COM 718546104 13,443 166,867 SH   DFND 1,2 166,867 0 0
PIONEER NAT RES CO COM 723787107 18,103 130,526 SH   DFND 1,2 130,526 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 7,899 308,780 SH   DFND 1,2 308,780 0 0
PPG INDS INC COM 693506107 10,375 90,437 SH   DFND 1,2 90,437 0 0
RANGE RES CORP COM 75281A109 16,142 326,900 SH Put DFND 1,2 326,900 0 0
ROCK-TENN CO CL A 772739207 14,802 245,880 SH   DFND 1,2 245,880 0 0
RYDER SYS INC COM 783549108 3,380 38,687 SH   DFND 1,2 38,687 0 0
SANCHEZ ENERGY CORP COM 79970Y105 2,169 221,281 SH   DFND 1,2 221,281 0 0
SANDRIDGE ENERGY INC COM 80007P307 412 469,379 SH   DFND 1,2 469,379 0 0
SEALED AIR CORP NEW COM 81211K100 36,406 708,557 SH   DFND 1,2 708,557 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 5,464 72,700 SH Put DFND 1,2 72,700 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 2,333 56,260 SH   DFND 1,2 56,260 0 0
SEMPRA ENERGY COM 816851109 20,016 202,304 SH   DFND 1,2 202,304 0 0
SENSATA TECHNOLOGIES HLDG NV SHS N7902X106 5,735 108,748 SH   DFND 1,2 108,748 0 0
SOUTHERN CO COM 842587107 4,496 107,309 SH   DFND 1,2 107,309 0 0
SPIRIT AIRLS INC COM 848577102 4,994 80,424 SH   DFND 1,2 80,424 0 0
STANLEY BLACK & DECKER INC COM 854502101 5,008 47,583 SH   DFND 1,2 47,583 0 0
SUMMIT MATLS INC CL A 86614U100 5,620 220,374 SH   DFND 1,2 220,374 0 0
SUNCOKE ENERGY INC COM 86722A103 3,496 268,942 SH   DFND 1,2 268,942 0 0
SUNEDISON INC COM 86732Y109 5,728 191,494 SH   DFND 1,2 191,494 0 0
TEEKAY CORPORATION COM Y8564W103 18,462 431,143 SH   DFND 1,2 431,143 0 0
TERRAFORM PWR INC CL A COM 88104R100 2,620 68,971 SH   DFND 1,2 68,971 0 0
TESORO CORP COM 881609101 7,247 85,856 SH   DFND 1,2 85,856 0 0
TESORO CORP COM 881609101 18,444 218,500 SH Call DFND 1,2 218,500 0 0
TIDEWATER INC COM 886423102 2,854 125,558 SH   DFND 1,2 125,558 0 0
TRANSOCEAN LTD REG SHS H8817H100 1,478 91,677 SH   DFND 1,2 91,677 0 0
TRIANGLE PETE CORP COM NEW 89600B201 3,310 659,292 SH   DFND 1,2 659,292 0 0
TYSON FOODS INC CL A 902494103 7,434 174,374 SH   DFND 1,2 174,374 0 0
U S CONCRETE INC COM NEW 90333L201 1,626 42,905 SH   DFND 1,2 42,905 0 0
UNIVAR INC COM 91336L107 2,044 78,532 SH   DFND 1,2 78,532 0 0
VALERO ENERGY CORP NEW COM 91913Y100 4,020 64,211 SH   DFND 1,2 64,211 0 0
VALERO ENERGY CORP NEW COM 91913Y100 16,376 261,600 SH Call DFND 1,2 261,600 0 0
WABCO HLDGS INC COM 92927K102 21,342 172,500 SH   DFND 1,2 172,500 0 0
WESTERN REFNG INC COM 959319104 3,262 74,778 SH   DFND 1,2 74,778 0 0
WHITING PETE CORP NEW COM 966387102 13,756 409,416 SH   DFND 1,2 409,416 0 0
WILLIAMS COS INC DEL COM 969457100 6,421 111,890 SH   DFND 1,2 111,890 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 8,678 151,710 SH   DFND 1,2 151,710 0 0