Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	EXTENDED STAY AMER INC	55,711,591	$1.463B	7.2%	—	—	UNIT 99/99/9999B	30224P200
—	VODAFONE GROUP PLC NEW	35,195,900	$1.384B	6.8%	—	—	SPONS ADR NEW	92857W209
GLD	SPDR GOLD TRUST	10,234,852	$1.189B	5.9%	—	—	GOLD SHS	78463V107
—	TIME WARNER CABLE INC	5,981,200	$810M	4.0%	—	—	COM	88732J207
GRFS	GRIFOLS S A	19,823,407	$716M	3.5%	—	—	SPONSORED ADR	398438408
—	SPRINT CORP COM	64,149,405	$690M	3.4%	—	—	COM SER 1	85207U105
MGM	MGM RESORTS INTERNATIONAL	28,790,500	$677M	3.3%	—	—	COM	552953101
TMUS	T-MOBILE US INC	19,431,449	$654M	3.2%	—	—	COM	872590104
—	WHITING PETE CORP NEW	10,347,100	$640M	3.2%	—	—	COM	966387102
—	FAMILY DLR STORES INC	9,759,600	$634M	3.1%	—	—	COM	307000109
—	REALOGY HLDGS CORP	12,000,000	$594M	2.9%	—	—	COM	75605Y106
FCX	FREEPORT-MCMORAN COPPER & GO	15,501,382	$585M	2.9%	—	—	COM	35671D857
—	AETNA INC NEW	7,995,606	$548M	2.7%	—	—	COM	00817Y108
—	MYLAN INC	12,139,300	$527M	2.6%	—	—	COM	628530107
—	HOUGHTON MIFFLIN HARCOURT CO	30,912,558	$524M	2.6%	—	—	COM	44157R109
TMO	THERMO FISHER SCIENTIFIC INC	4,700,000	$523M	2.6%	—	—	COM	883556102
—	HESS CORP	4,648,600	$386M	1.9%	—	—	COM	42809H107
—	CABLEVISION SYS CORP	21,000,000	$377M	1.9%	—	—	CL A NY CABLVS	12686C109
—	EQUINIX INC	2,088,200	$371M	1.8%	—	—	COM NEW	29444U502
—	ANGLOGOLD ASHANTI LTD	31,413,135	$368M	1.8%	—	—	SPONSORED ADR	035128206
—	SHIRE PLC	2,529,854	$357M	1.8%	—	—	SPONSORED ADR	82481R106
—	OASIS PETE INC NEW	7,408,900	$348M	1.7%	—	—	COM	674215108
—	MALLINCKRODT PUB LTD CO	5,640,000	$295M	1.5%	—	—	SHS	G5785G107
—	KODIAK OIL & GAS CORP	26,000,001	$291M	1.4%	—	—	COM	50015Q100
—	CAESARS ENTMT CORP	12,267,190	$264M	1.3%	—	—	COM	127686103
—	PIONEER NAT RES CO	1,383,600	$255M	1.3%	—	—	COM	723787107
BPOP	POPULAR INC	8,845,448	$254M	1.3%	—	—	COM	733174700
CNO	CNO FINL GROUP INC	12,459,577	$220M	1.1%	—	—	COM	12621E103
HIG	HARTFORD FINL SVCS GROUP INC	5,968,670	$216M	1.1%	—	—	COM	416515104
—	COBALT INTL ENERGY INC	13,073,300	$215M	1.1%	—	—	COM	19075F106
AAL	AMERICAN AIRLS GROUP INC	8,500,000	$215M	1.1%	—	—	COM	02376R102
—	MGIC INVT CORP WIS	150,000,000	$207M	1.0%	—	—	NOTE 2.000% 4/0	552848AE3
—	BANK OF AMERICA CORPORATION	27,078,152	$175M	0.9%	—	—	* W Exp 01/16/2019	060505146
HCA	HCA HOLDINGS INC	3,403,919	$162M	0.8%	—	—	COM	40412C101
RDN	RADIAN GROUP INC	11,393,900	$161M	0.8%	—	—	COM	750236101
—	SANTARUS INC	5,000,000	$160M	0.8%	—	—	COM	802817304
—	COMPUWARE CORP	14,250,000	$160M	0.8%	—	—	COM	205638109
—	CAESARS ACQUISITION CO	12,322,840	$149M	0.7%	—	—	CL A	12768T103
MTG	MGIC INVT CORP WIS	16,562,000	$140M	0.7%	—	—	COM	552848103
GNW	GENWORTH FINL INC	9,000,000	$140M	0.7%	—	—	COM CL A	37247D106
—	CAPITAL ONE FINL CORP	3,632,434	$129M	0.6%	—	—	*W EXP 11/14/2018	14040H139
—	RADIAN GROUP INC	84,500,000	$124M	0.6%	—	—	NOTE 2.250% 3/01/2019	750236AN1
DLR	DIGITAL RLTY TR INC	2,321,300	$114M	0.6%	—	—	COM	253868103
AMCX	AMC NETWORKS INC	1,500,000	$102M	0.5%	—	—	CL A	00164V103
MTB	M & T BK CORP	865,466	$101M	0.5%	—	—	COM	55261F104
—	DELPHI AUTOMOTIVE PLC	1,600,000	$96.21M	0.5%	—	—	SHS	G27823106
NG	NOVAGOLD RES INC	35,839,014	$91.03M	0.4%	—	—	COM NEW	66987E206
—	HARTFORD FINL SVCS GROUP INC	3,292,900	$90.65M	0.4%	—	—	W EXP 6/26/2019	416515120
—	ROCK-TENN CO	800,000	$84.01M	0.4%	—	—	CL A	772739207
—	FIDELITY NATIONAL FINANCIAL	2,500,000	$81.13M	0.4%	—	—	CL A	31620R105
GM	GENERAL MTRS CO	1,865,706	$76.25M	0.4%	—	—	COM	37045V100
—	LYON WILLIAM HOMES	3,322,666	$67.52M	0.3%	—	—	CL A NEW	552074700
—	VIROPHARMA INC	1,300,000	$64.81M	0.3%	—	—	COM	928241108
BRX	BRIXMOR PPTY GROUP INC	3,000,000	$60.99M	0.3%	—	—	COM	11120U105
POST	POST HLDGS INC	1,234,200	$60.81M	0.3%	—	—	COM	737446104
—	AMERICAN CAP LTD	3,784,700	$59.19M	0.3%	—	—	COM	02503Y103
—	GENTIUM S P A	965,500	$55.13M	0.3%	—	—	SPONSORED ADR	37250B104
—	GENERAL MTRS CO	1,696,094	$52.82M	0.3%	—	—	W EXP 07/10/2016	37045V118
—	COOPER TIRE & RUBR CO	2,000,000	$48.08M	0.2%	—	—	COM	216831107
IDCC	INTERDIGITAL INC	1,630,000	$48.07M	0.2%	—	—	COM	45867G101
RHP	RYMAN HOSPITALITY PPTYS INC	1,120,400	$46.81M	0.2%	—	—	COM ADDED	78377T107
—	ENZYMOTEC LTD	1,733,030	$46.81M	0.2%	—	—	SHS	M4059L101
—	COBALT INTL ENERGY INC	50,000,000	$44.22M	0.2%	—	—	NOTE 2.625%12/001/2019	19075FAA4
—	RESPONSYS INC	1,602,400	$43.92M	0.2%	—	—	COM	761248103
—	RANDGOLD RES LTD	670,700	$42.13M	0.2%	—	—	ADR	752344309
—	FELCOR LODGING TR INC	5,000,000	$40.8M	0.2%	—	—	COM	31430F101
—	QUESTCOR PHARMACEUTICALS INC	731,410	$39.83M	0.2%	—	—	COM	74835Y101
—	GENERAL MTRS CO	1,696,094	$39.23M	0.2%	—	—	W EXP 07/10/2019	37045V126
—	HOWARD HUGHES CORP	315,000	$37.83M	0.2%	—	—	COM	44267D107
—	WHITEWAVE FOODS CO	1,600,000	$36.7M	0.2%	—	—	COM CL A	966244105
—	STARWOOD PPTY TR INC NOTE 4.550% 3/0 ADDED	25,000,000	$27.61M	0.1%	—	—	NOTE 4.550% 3/01/2018	85571BAA3
AEM	AGNICO EAGLE MINES LTD	1,011,880	$26.68M	0.1%	—	—	COM	008474108
—	REDWOOD TR INC	25,000,000	$25.95M	0.1%	—	—	NOTE 4.625% 4/01/2018	758075AB1
—	COLONY FINL INC	25,000,000	$25.61M	0.1%	—	—	NOTE 5.000% 4/15/2023	19624RAA4
GFI	GOLD FIELDS LTD NEW	6,529,748	$20.89M	0.1%	—	—	SPONSORED ADR	38059T106
—	STRATEGIC HOTELS & RESORTS I	1,640,000	$15.5M	0.1%	—	—	COM	86272T106
—	DEX MEDIA INC NEW	2,231,132	$15.13M	0.1%	—	—	COM	25213A107
IAG	IAMGOLD CORP	3,863,912	$12.87M	0.1%	—	—	COM	450913108
KMDA	KAMADA LTD	750,000	$11.15M	0.1%	—	—	SHS	M6240T109
—	BANK OF AMERICA CORPORATION	11,812,853	$9.096M	0.0%	—	—	* W Exp 10/28/2018	060505153
—	NOVACOPPER INC	5,912,709	$8.987M	0.0%	—	—	COM	66988K102
—	SIBANYE GOLD LTD	1,632,435	$7.852M	0.0%	—	—	SPONSORED ADR	825724206
—	LIFE TECHNOLOGIES CORP	89,657	$6.796M	0.0%	—	—	COM	53217V109
—	ALLIED NEVADA GOLD CORP	1,502,184	$5.333M	0.0%	—	—	COM	019344100
—	INTEROIL CORP	100,000	$5.149M	0.0%	—	—	COM	460951106
THM	INTERNATIONAL TOWER HILL MIN	8,908,000	$3.478M	0.0%	—	—	COM	46050R102
SHO	SUNSTONE HOTEL INVS INC	246,458	$3.303M	0.0%	—	—	COM NEW	867892101