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
ADVANCED DRAIN SYS INC DEL COM 00790R104 1,322 45,708 SH   DFND 1,2 45,708 0 0
AERCAP HOLDINGS NV SHS N00985106 8,507 222,454 SH   DFND 1,2 222,454 0 0
AIR PRODS & CHEMS INC COM 009158106 5,768 45,210 SH   DFND 1,2 45,210 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 5,599 144,180 SH   DFND 1,2 144,180 0 0
ARMSTRONG WORLD INDS INC NEW COM 04247X102 9,340 195,647 SH   DFND 1,2 195,647 0 0
ASBURY AUTOMOTIVE GROUP INC COM 043436104 22,420 276,275 SH   DFND 1,2 276,275 0 0
ASHLAND INC NEW COM 044209104 2,734 27,171 SH   DFND 1,2 27,171 0 0
AVIS BUDGET GROUP COM 053774105 10,000 228,945 SH   DFND 1,2 228,945 0 0
BERRY PLASTICS GROUP INC COM 08579W103 5,276 175,459 SH   DFND 1,2 175,459 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 2,913 229,737 SH   DFND 1,2 229,737 0 0
CABOT OIL & GAS CORP COM 127097103 3,825 174,980 SH   DFND 1,2 174,980 0 0
CHESAPEAKE ENERGY CORP COM 165167107 7,771 1,060,200 SH Put DFND 1,2 1,060,200 0 0
CHESAPEAKE ENERGY CORP COM 165167107 9,569 1,305,492 SH   DFND 1,2 1,305,492 0 0
CIMAREX ENERGY CO COM 171798101 4,914 47,955 SH   DFND 1,2 47,955 0 0
CLEAN ENERGY FUELS CORP COM 184499101 923 205,000 SH   DFND 1,2 205,000 0 0
CONCHO RES INC COM 20605P101 5,839 59,398 SH   DFND 1,2 59,398 0 0
DANAHER CORP DEL COM 235851102 6,480 76,053 SH   DFND 1,2 76,053 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 5,673 327,894 SH   DFND 1,2 327,894 0 0
DIAMONDBACK ENERGY INC COM 25278X109 7,113 110,107 SH   DFND 1,2 110,107 0 0
DOW CHEM CO COM 260543103 2,941 69,363 SH   DFND 1,2 69,363 0 0
DTE ENERGY CO COM 233331107 5,600 69,680 SH   DFND 1,2 69,680 0 0
ENERGEN CORP COM 29265N108 7,969 159,836 SH   DFND 1,2 159,836 0 0
EQT CORP COM 26884L109 5,272 81,403 SH   DFND 1,2 81,403 0 0
GENERAL ELECTRIC CO COM 369604103 6,981 276,809 SH   DFND 1,2 276,809 0 0
GENESEE & WYO INC CL A 371559105 4,411 74,669 SH   DFND 1,2 74,669 0 0
GRACE W R & CO DEL NEW COM 38388F108 12,155 130,625 SH   DFND 1,2 130,625 0 0
GULFPORT ENERGY CORP COM NEW 402635304 6,744 227,209 SH   DFND 1,2 227,209 0 0
HD SUPPLY HLDGS INC COM 40416M105 4,467 156,065 SH   DFND 1,2 156,065 0 0
HOLLYFRONTIER CORP COM 436106108 10,957 224,341 SH   DFND 1,2 224,341 0 0
HOME DEPOT INC COM 437076102 7,311 63,300 SH   DFND 1,2 63,300 0 0
ISHARES MSCI AUST ETF 464286103 9,897 552,292 SH   DFND 1,2 552,292 0 0
KIRBY CORP COM 497266106 1,512 24,404 SH   DFND 1,2 24,404 0 0
LINNCO LLC COM SHS LTD INT 535782106 2,127 784,757 SH   DFND 1,2 784,757 0 0
LOCKHEED MARTIN CORP COM 539830109 8,595 41,462 SH   DFND 1,2 41,462 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 26,717 357,846 SH   DFND 1,2 357,846 0 0
MAGNA INTL INC COM 559222401 6,413 133,576 SH   DFND 1,2 133,576 0 0
MARATHON OIL CORP COM 565849106 2,968 192,700 SH Put DFND 1,2 192,700 0 0
MARATHON PETE CORP COM 56585A102 7,246 156,408 SH   DFND 1,2 156,408 0 0
MARTIN MARIETTA MATLS INC COM 573284106 17,077 112,384 SH   DFND 1,2 112,384 0 0
MASCO CORP COM 574599106 9,137 362,850 SH   DFND 1,2 362,850 0 0
MEMORIAL RESOURCE DEV CORP COM 58605Q109 2,322 132,064 SH   DFND 1,2 132,064 0 0
MOHAWK INDS INC COM 608190104 15,139 83,275 SH   DFND 1,2 83,275 0 0
NEWFIELD EXPL CO COM 651290108 8,909 270,790 SH   DFND 1,2 270,790 0 0
NOBLE ENERGY INC COM 655044105 4,205 139,329 SH   DFND 1,2 139,329 0 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 2,244 39,163 SH   DFND 1,2 39,163 0 0
NUCOR CORP COM 670346105 474 12,623 SH   DFND 1,2 12,623 0 0
OASIS PETE INC NEW COM 674215108 1,189 136,966 SH   DFND 1,2 136,966 0 0
OWENS CORNING NEW COM 690742101 22,235 530,537 SH   DFND 1,2 530,537 0 0
OWENS CORNING NEW COM 690742101 6,463 154,200 SH Call DFND 1,2 154,200 0 0
PDC ENERGY INC COM 69327R101 2,424 45,724 SH   DFND 1,2 45,724 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 838 192,700 SH Put DFND 1,2 192,700 0 0
PIONEER NAT RES CO COM 723787107 7,444 61,193 SH   DFND 1,2 61,193 0 0
PPL CORP COM 69351T106 5,367 163,180 SH   DFND 1,2 163,180 0 0
RAYTHEON CO COM NEW 755111507 5,595 51,210 SH   DFND 1,2 51,210 0 0
REPUBLIC SVCS INC COM 760759100 2,983 72,412 SH   DFND 1,2 72,412 0 0
RICE ENERGY INC COM 762760106 1,793 110,923 SH   DFND 1,2 110,923 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 2,732 30,666 SH   DFND 1,2 30,666 0 0
RSP PERMIAN INC COM 74978Q105 2,565 126,665 SH   DFND 1,2 126,665 0 0
SANCHEZ ENERGY CORP COM 79970Y105 1,126 183,033 SH   DFND 1,2 183,033 0 0
SANDRIDGE ENERGY INC COM 80007P307 1,140 4,223,367 SH   DFND 1,2 4,223,367 0 0
SEADRILL LIMITED SHS G7945E105 5,727 970,727 SH   DFND 1,2 970,727 0 0
SEALED AIR CORP NEW COM 81211K100 7,642 163,019 SH   DFND 1,2 163,019 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 10,453 170,800 SH Put DFND 1,2 170,800 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 25,498 511,092 SH   DFND 1,2 511,092 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 14,110 325,938 SH   DFND 1,2 325,938 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 10,558 243,900 SH Call DFND 1,2 243,900 0 0
SOUTHWEST AIRLS CO COM 844741108 6,649 174,790 SH   DFND 1,2 174,790 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 19,163 100,000 SH Put DFND 1,2 100,000 0 0
SUMMIT MATLS INC CL A 86614U100 3,617 192,708 SH   DFND 1,2 192,708 0 0
SUNCOR ENERGY INC NEW COM 867224107 7,744 289,835 SH   DFND 1,2 289,835 0 0
TIDEWATER INC COM 886423102 1,902 144,719 SH   DFND 1,2 144,719 0 0
TOPBUILD CORP COM 89055F103 8,230 265,754 SH   DFND 1,2 265,754 0 0
TRANSOCEAN LTD REG SHS H8817H100 4,302 332,977 SH   DFND 1,2 332,977 0 0
TYSON FOODS INC CL A 902494103 7,649 177,474 SH   DFND 1,2 177,474 0 0
ULTRA PETROLEUM CORP COM 903914109 1,051 164,532 SH   DFND 1,2 164,532 0 0
UNITED RENTALS INC COM 911363109 8,449 140,702 SH   DFND 1,2 140,702 0 0
WASTE CONNECTIONS INC COM 941053100 3,784 77,886 SH   DFND 1,2 77,886 0 0
WASTE MGMT INC DEL COM 94106L109 4,662 93,588 SH   DFND 1,2 93,588 0 0
WESTERN REFNG INC COM 959319104 13,894 314,910 SH   DFND 1,2 314,910 0 0
WESTROCK CO COM 96145D105 4,116 80,013 SH   DFND 1,2 80,013 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 16,683 305,273 SH   DFND 1,2 305,273 0 0
XYLEM INC COM 98419M100 3,037 92,442 SH   DFND 1,2 92,442 0 0