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 COVER PAGE
OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
Report for the Calendar Year or Quarter Ended: 06-30-2014
Check here if Amendment   Amendment Number:
This Amendment (Check only one.):   is a restatement.
  adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: COWEN GROUP, INC.
Address: 599 LEXINGTON AVENUE, 20TH FLOOR
NEW YORK , NY10022
Form 13F File Number: 028-14571

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name: Owen Littman
Title: General Counsel
Phone: 212-201-4841
Signature, Place, and Date of Signing:
/s/ Owen Littman New York , NY 08-11-2014
[Signature] [City, State] [Date]
Report Type (Check only one.):
X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
  13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
  13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 3
Form 13F Information Table Entry Total: 267
Form 13F Information Table Value Total: 890,682
(thousands)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
028-10674 RAMIUS ADVISORS LLC
028-14361 Ramius Alternative Solutions LLC
028-04125 COWEN & COMPANY, LLC

List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No. Form 13F File Number Name
1 028-10674 RAMIUS ADVISORS LLC
2 028-14361 Ramius Alternative Solutions LLC
3 028-04125 COWEN & COMPANY, LLC
SEC FORM 13F-HR

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
Expires: July 31, 2015
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
22ND CENTY GROUP INC COM 90137F103 154 50,000 SH DFND 1 50,000 0 0
ABBVIE INC COM 00287Y109 5,080 90,000 SH Call DFND 1 90,000 0 0
ACACIA RESH CORP ACACIA TCH COM 003881307 313 17,660 SH DFND 1 17,660 0 0
ACI WORLDWIDE INC COM 004498101 3,982 71,320 SH DFND 2 71,320 0 0
ACUITY BRANDS INC COM 00508Y102 249 1,800 SH DFND 1 1,800 0 0
ADOBE SYS INC COM 00724F101 4,316 59,650 SH DFND 2 59,650 0 0
AIR LEASE CORP CL A 00912X302 249 6,450 SH DFND 1 6,450 0 0
AIR PRODS & CHEMS INC COM 009158106 4,215 32,773 SH DFND 2 32,773 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 4,346 71,179 SH DFND 2 71,179 0 0
ALKERMES PLC SHS G01767105 302 6,000 SH DFND 1 6,000 0 0
ALLERGAN INC COM 018490102 16,905 99,900 SH Put DFND 1 99,900 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 3,442 25,703 SH DFND 1 25,703 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 10,714 80,000 SH Call DFND 1 80,000 0 0
AMAZON COM INC COM 023135106 559 1,720 SH DFND 1 1,720 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 215 5,000 SH Call DFND 3 5,000 0 0
AMERICAN RAILCAR INDS INC COM 02916P103 857 12,650 SH DFND 1 12,650 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 3,925 313,224 SH DFND 2 313,224 0 0
AMGEN INC COM 031162100 592 5,000 SH DFND 1 5,000 0 0
ANTARES PHARMA INC COM 036642106 40 15,000 SH DFND 1 15,000 0 0
APOLLO INVT CORP COM 03761U106 115 13,300 SH DFND 1 13,300 0 0
APPLE INC COM 037833100 2,220 23,887 SH DFND 1 23,887 0 0
APPLIED MATLS INC COM 038222105 4,511 200,000 SH Call DFND 1 200,000 0 0
ARROWHEAD RESH CORP COM NEW 042797209 143 10,000 SH DFND 1 10,000 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 4,515 99,411 SH DFND 1 99,411 0 0
AT&T INC COM 00206R102 2,747 77,700 SH Put DFND 1 77,700 0 0
AT&T INC COM 00206R102 212 6,000 SH DFND 1 6,000 0 0
AT&T INC COM 00206R102 35 1,000 SH Call DFND 3 1,000 0 0
B/E AEROSPACE INC COM 073302101 10,045 108,603 SH DFND 1 108,603 0 0
B/E AEROSPACE INC COM 073302101 8,934 96,600 SH Call DFND 1 96,600 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 3,865 119,055 SH DFND 2 119,055 0 0
BAKER HUGHES INC COM 057224107 4,145 55,679 SH DFND 2 55,679 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 1,510 218,154 SH DFND 1 218,154 0 0
BARNES & NOBLE INC COM 067774109 2,189 96,000 SH Call DFND 3 96,000 0 0
BIOGEN IDEC INC COM 09062X103 347 1,100 SH DFND 1 1,100 0 0
BLUEBIRD BIO INC COM 09609G100 3,564 92,408 SH DFND 1 92,408 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 316 17,100 SH DFND 1 17,100 0 0
BOB EVANS FARMS INC COM 096761101 2,294 45,828 SH DFND 1 45,828 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 1,184 14,250 SH DFND 1 14,250 0 0
BURGER KING WORLDWIDE INC COM 121220107 4,157 152,718 SH DFND 2 152,718 0 0
CACI INTL INC CL A 127190304 3,805 54,198 SH DFND 2 54,198 0 0
CANADIAN PAC RY LTD COM 13645T100 4,230 23,350 SH DFND 2 23,350 0 0
CAPITAL ONE FINL CORP COM 14040H105 413 5,000 SH DFND 1 5,000 0 0
CATAMARAN CORP COM 148887102 2,473 56,000 SH Call DFND 3 56,000 0 0
CATAMARAN CORP COM 148887102 110 2,500 SH DFND 3 2,500 0 0
CBS OUTDOOR AMERS INC COM 14987J106 1,766 54,025 SH DFND 1 54,025 0 0
CEMPRA INC COM 15130J109 248 23,100 SH DFND 1 23,100 0 0
CHENIERE ENERGY INC COM NEW 16411R208 359 5,000 SH DFND 1 5,000 0 0
CHICOS FAS INC COM 168615102 1,870 110,274 SH DFND 1 110,274 0 0
CHIPMOS TECH BERMUDA LTD SHS G2110R114 302 12,500 SH DFND 1 12,500 0 0
CHIPMOS TECH BERMUDA LTD SHS G2110R114 569 23,584 SH DFND 3 23,584 0 0
CITRIX SYS INC COM 177376100 422 6,750 SH DFND 1 6,750 0 0
CIVEO CORP COM 178787107 1,858 74,243 SH DFND 2 74,243 0 0
CLECO CORP NEW COM 12561W105 651 11,042 SH DFND 1 11,042 0 0
COMCAST CORP NEW CL A 20030N101 10,994 204,800 SH Call DFND 1 204,800 0 0
COMMONWEALTH REIT COM SH BEN INT 203233101 2,456 93,324 SH DFND 1 93,324 0 0
COMMUNITY HEALTH SYS INC NEW RIGHT 01/27/2016 203668116 2 25,000 SH DFND 3 25,000 0 0
CONSTANT CONTACT INC COM 210313102 417 13,000 SH DFND 1 13,000 0 0
COVIDIEN PLC SHS G2554F113 19,674 218,160 SH DFND 1 218,160 0 0
COVIDIEN PLC SHS G2554F113 631 7,000 SH DFND 3 7,000 0 0
COWEN GROUP INC NEW CL A 223622101 18,954 4,491,496 SH DFND 1 4,491,496 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344109 445 29,934 SH DFND 1 29,934 0 0
CRESTWOOD MIDSTREAM PARTNERS UNIT LTD PARTNER 226378107 863 39,124 SH DFND 1 39,124 0 0
CROWN CASTLE INTL CORP COM 228227104 3,787 50,997 SH DFND 2 50,997 0 0
CTI BIOPHARMA CORP COM 12648L106 57 20,200 SH DFND 1 20,200 0 0
CUBIST PHARMACEUTICALS INC COM 229678107 567 8,125 SH DFND 1 8,125 0 0
DELCATH SYS INC COM NEW 24661P401 197 75,000 SH DFND 1 75,000 0 0
DIRECTV COM 25490A309 595 7,000 SH DFND 3 7,000 0 0
DIRECTV COM 25490A309 31,524 370,824 SH DFND 1 370,824 0 0
DISH NETWORK CORP CL A 25470M109 6,742 103,600 SH Call DFND 1 103,600 0 0
DOMINION RES INC VA NEW COM 25746U109 536 7,500 SH DFND 1 7,500 0 0
DYAX CORP COM 26746E103 144 15,000 SH DFND 1 15,000 0 0
DYNAVAX TECHNOLOGIES CORP COM 268158102 32 20,000 SH DFND 1 20,000 0 0
DYNAVAX TECHNOLOGIES CORP COM 268158102 48 30,000 SH DFND 3 30,000 0 0
EBAY INC COM 278642103 1,399 27,950 SH DFND 1 27,950 0 0
ENCANA CORP COM 292505104 1,079 45,500 SH DFND 3 45,500 0 0
ENCANA CORP COM 292505104 1,276 53,800 SH Call DFND 3 53,800 0 0
ENDURANCE INTL GROUP HLDGS I COM 29272B105 191 12,500 SH DFND 1 12,500 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 2,585 43,850 SH DFND 1 43,850 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 1,673 21,375 SH DFND 1 21,375 0 0
ENTRAVISION COMMUNICATIONS C CL A 29382R107 67 10,800 SH DFND 1 10,800 0 0
EOG RES INC COM 26875P101 263 2,250 SH DFND 1 2,250 0 0
EXXON MOBIL CORP COM 30231G102 299 2,971 SH DFND 1 2,971 0 0
FACEBOOK INC CL A 30303M102 787 11,700 SH DFND 1 11,700 0 0
FEDERAL SIGNAL CORP COM 313855108 670 45,708 SH DFND 1 45,708 0 0
FIFTH STREET FINANCE CORP COM 31678A103 110 11,200 SH DFND 1 11,200 0 0
FOREST LABS INC COM 345838106 70,016 707,232 SH DFND 1 707,232 0 0
FOREST LABS INC COM 345838106 2,762 27,898 SH DFND 3 27,898 0 0
FOREST OIL CORP COM PAR $0.01 346091705 2,856 1,252,200 SH Put DFND 1 1,252,200 0 0
FOSTER WHEELER AG COM H27178104 56,337 1,653,570 SH DFND 1 1,653,570 0 0
FUSION-IO INC COM 36112J107 509 45,001 SH DFND 3 45,001 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 504 9,000 SH DFND 1 9,000 0 0
GENTIVA HEALTH SERVICES INC COM 37247A102 870 57,800 SH Put DFND 1 57,800 0 0
GILEAD SCIENCES INC COM 375558103 2,515 30,330 SH DFND 1 30,330 0 0
GLOBE SPECIALTY METALS INC COM 37954N206 4,038 194,341 SH DFND 2 194,341 0 0
GLU MOBILE INC COM 379890106 125 25,000 SH DFND 3 25,000 0 0
GNC HLDGS INC COM CL A 36191G107 3,410 100,000 SH DFND 1 100,000 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 4,111 147,986 SH DFND 2 147,986 0 0
GOOGLE INC CL A 38259P508 1,374 2,350 SH DFND 1 2,350 0 0
GOOGLE INC CL C 38259P706 978 1,700 SH DFND 1 1,700 0 0
GRAY TELEVISION INC COM 389375106 788 60,000 SH DFND 1 60,000 0 0
GREENBRIER COS INC COM 393657101 495 8,600 SH DFND 1 8,600 0 0
HALLIBURTON CO COM 406216101 1,420 20,000 SH Call DFND 3 20,000 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 156 15,800 SH DFND 1 15,800 0 0
HARMAN INTL INDS INC COM 413086109 3,881 36,129 SH DFND 2 36,129 0 0
HEICO CORP NEW COM 422806109 208 4,000 SH DFND 1 4,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 1,407 50,185 SH DFND 1 50,185 0 0
HEWLETT PACKARD CO COM 428236103 3,959 117,555 SH DFND 2 117,555 0 0
HILLSHIRE BRANDS CO COM 432589109 1,870 30,000 SH Call DFND 3 30,000 0 0
HILLSHIRE BRANDS CO COM 432589109 9,887 158,700 SH Call DFND 1 158,700 0 0
HILLSHIRE BRANDS CO COM 432589109 5,837 93,689 SH DFND 1 93,689 0 0
HILLSHIRE BRANDS CO COM 432589109 218 3,500 SH DFND 3 3,500 0 0
HOLOGIC INC COM 436440101 4,120 162,516 SH DFND 2 162,516 0 0
HORIZON PHARMA INC COM 44047T109 1,266 80,000 SH DFND 1 80,000 0 0
HORIZON PHARMA INC COM 44047T109 92 5,800 SH DFND 3 5,800 0 0
HOUSTON AMERN ENERGY CORP COM 44183U100 17 38,000 SH DFND 1 38,000 0 0
HUDSON CITY BANCORP COM 443683107 355 36,156 SH DFND 3 36,156 0 0
IAC INTERACTIVECORP COM PAR $.001 44919P508 2,189 31,619 SH DFND 1 31,619 0 0
IDENIX PHARMACEUTICALS INC COM 45166R204 1,224 50,785 SH DFND 1 50,785 0 0
IDENIX PHARMACEUTICALS INC COM 45166R204 1 30 SH DFND 3 30 0 0
IDENIX PHARMACEUTICALS INC COM 45166R204 5,302 220,000 SH Put DFND 1 220,000 0 0
IDERA PHARMACEUTICALS INC COM NEW 45168K306 29 10,000 SH DFND 1 10,000 0 0
ILLUMINA INC COM 452327109 268 1,500 SH DFND 1 1,500 0 0
INGERSOLL-RAND PLC SHS G47791101 849 73,400 SH Call DFND 1 73,400 0 0
INGERSOLL-RAND PLC SHS G47791101 4,153 66,437 SH DFND 2 66,437 0 0
INTERMUNE INC COM 45884X103 450 10,200 SH DFND 3 10,200 0 0
INTERMUNE INC COM 45884X103 715 16,200 SH Call DFND 3 16,200 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 816 4,500 SH DFND 1 4,500 0 0
IRON MTN INC COM 462846106 709 20,000 SH DFND 1 20,000 0 0
ISHARES MSCI CDA ETF 464286509 322 10,000 SH DFND 1 10,000 0 0
ISHARES RUSSELL 2000 ETF 464287655 5,941 50,000 SH Put DFND 1 50,000 0 0
JAZZ PHARMACEUTICALS PLC SHS USD G50871105 595 4,050 SH DFND 1 4,050 0 0
JUNIPER NETWORKS INC COM 48203R104 436 17,772 SH DFND 1 17,772 0 0
LAMAR ADVERTISING CO CL A 512815101 3,437 64,841 SH DFND 1 64,841 0 0
LEGG MASON INC COM 524901105 4,076 79,440 SH DFND 2 79,440 0 0
LIFE TIME FITNESS INC COM 53217R207 861 17,656 SH DFND 1 17,656 0 0
LORAL SPACE & COMMUNICATNS I COM 543881106 4,162 57,250 SH DFND 3 57,250 0 0
LORAL SPACE & COMMUNICATNS I COM 543881106 2,333 32,100 SH Call DFND 3 32,100 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 4,009 64,275 SH DFND 2 64,275 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2,549 30,326 SH DFND 1 30,326 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 5,505 68,800 SH Call DFND 1 68,800 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 2,113 26,400 SH DFND 1 26,400 0 0
MATTSON TECHNOLOGY INC COM 577223100 175 80,000 SH DFND 1 80,000 0 0
MATTSON TECHNOLOGY INC COM 577223100 5 2,500 SH DFND 3 2,500 0 0
MCKESSON CORP COM 58155Q103 279 1,500 SH DFND 1 1,500 0 0
MEDASSETS INC COM 584045108 3,719 162,818 SH DFND 2 162,818 0 0
MEDTRONIC INC COM 585055106 27,213 426,800 SH Call DFND 1 426,800 0 0
MENS WEARHOUSE INC COM 587118100 3,537 63,400 SH Call DFND 1 63,400 0 0
MICROSOFT CORP COM 594918104 4,038 96,839 SH DFND 2 96,839 0 0
MICROSOFT CORP COM 594918104 209 5,000 SH DFND 1 5,000 0 0
MONDELEZ INTL INC CL A 609207105 3,913 104,053 SH DFND 2 104,053 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 3,868 58,108 SH DFND 2 58,108 0 0
MYLAN INC COM 628530107 3,228 62,600 SH Call DFND 1 62,600 0 0
NABORS INDUSTRIES LTD SHS G6359F103 526 17,913 SH DFND 1 17,913 0 0
NATIONAL OILWELL VARCO INC COM 637071101 659 8,000 SH DFND 1 8,000 0 0
NCR CORP NEW COM 62886E108 4,176 119,022 SH DFND 2 119,022 0 0
NII HLDGS INC CL B NEW 62913F201 54 97,466 SH DFND 1 97,466 0 0
NOBLE CORP PLC SHS USD G65431101 6,813 203,000 SH Call DFND 3 203,000 0 0
NORDION INC COM 65563C105 2,329 185,399 SH DFND 1 185,399 0 0
NORTHWEST PIPE CO COM 667746101 1,003 24,860 SH DFND 1 24,860 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 1,884 100,387 SH DFND 1 100,387 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 939 50,000 SH Call DFND 1 50,000 0 0
OIL STS INTL INC COM 678026105 2,371 36,992 SH DFND 2 36,992 0 0
OILTANKING PARTNERS L P UNIT LTD 678049107 449 4,750 SH DFND 1 4,750 0 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 868 14,815 SH DFND 1 14,815 0 0
OPENTABLE INC COM 68372A104 549 5,300 SH Call DFND 3 5,300 0 0
OPENTABLE INC COM 68372A104 4,403 42,500 SH Call DFND 1 42,500 0 0
OUTERWALL INC COM 690070107 1,335 22,500 SH DFND 1 22,500 0 0
OWENS ILL INC COM NEW 690768403 4,085 117,928 SH DFND 2 117,928 0 0
PARKERVISION INC COM 701354102 44 30,000 SH DFND 1 30,000 0 0
PARKERVISION INC COM 701354102 38 25,500 SH Call DFND 3 25,500 0 0
PENN VA CORP COM 707882106 1,017 60,000 SH DFND 1 60,000 0 0
PEPSICO INC COM 713448108 4,020 44,997 SH DFND 2 44,997 0 0
PETROLOGISTICS LP UNIT LTD PTH INT 71672U101 2,205 153,530 SH DFND 1 153,530 0 0
PFIZER INC COM 717081103 7,503 252,800 SH Call DFND 1 252,800 0 0
PFIZER INC COM 717081103 297 10,000 SH Call DFND 3 10,000 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 1,020 13,500 SH DFND 1 13,500 0 0
PINNACLE FOODS INC DEL COM 72348P104 3,323 101,000 SH Call DFND 1 101,000 0 0
PINNACLE FOODS INC DEL COM 72348P104 82 2,500 SH Call DFND 3 2,500 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 1,235 20,570 SH DFND 1 20,570 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 1,072 33,500 SH DFND 1 33,500 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 4,108 146,549 SH DFND 2 146,549 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 13,201 493,503 SH DFND 2 493,503 0 0
PRECISION CASTPARTS CORP COM 740189105 303 1,200 SH DFND 1 1,200 0 0
PROGRESSIVE WASTE SOLUTIONS COM 74339G101 3,840 149,577 SH DFND 2 149,577 0 0
PROSHARES TR PSHS ULSHT SP500 74347B300 1,145 45,000 SH DFND 1 45,000 0 0
PROSHARES TR II ULTRASHORT YEN N 74347W569 389 6,000 SH DFND 1 6,000 0 0
PROSHARES TR II ULTRASHRT EURO 74347W882 341 20,000 SH DFND 1 20,000 0 0
PROSPECT CAPITAL CORPORATION COM 74348T102 117 11,000 SH DFND 1 11,000 0 0
PTC INC COM 69370C100 4,050 104,380 SH DFND 2 104,380 0 0
QEP RES INC COM 74733V100 1,558 45,171 SH DFND 1 45,171 0 0
QUALCOMM INC COM 747525103 802 10,130 SH DFND 1 10,130 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 5,031 54,400 SH Put DFND 1 54,400 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 1,517 16,400 SH Call DFND 3 16,400 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 4,463 48,259 SH DFND 1 48,259 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 14,992 162,100 SH Call DFND 1 162,100 0 0
RACKSPACE HOSTING INC COM 750086100 1,010 30,000 SH DFND 1 30,000 0 0
REGENCY ENERGY PARTNERS L P COM UNITS L P 75885Y107 451 14,000 SH DFND 1 14,000 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 309 85,000 SH DFND 3 85,000 0 0
RITE AID CORP COM 767754104 179 25,000 SH Call DFND 3 25,000 0 0
RITE AID CORP COM 767754104 147 20,500 SH DFND 3 20,500 0 0
RLJ ENTMT INC COM 74965F104 52 13,503 SH DFND 1 13,503 0 0
ROCKWELL COLLINS INC COM 774341101 3,938 50,394 SH DFND 2 50,394 0 0
SAFEWAY INC COM NEW 786514208 10,487 305,401 SH DFND 1 305,401 0 0
SAFEWAY INC COM NEW 786514208 296 8,633 SH DFND 3 8,633 0 0
SALIX PHARMACEUTICALS INC COM 795435106 1,542 12,500 SH DFND 1 12,500 0 0
SALIX PHARMACEUTICALS INC COM 795435106 1,419 11,500 SH Put DFND 1 11,500 0 0
SANCHEZ ENERGY CORP COM 79970Y105 3,227 85,857 SH DFND 1 85,857 0 0
SCHLUMBERGER LTD COM 806857108 236 2,000 SH DFND 1 2,000 0 0
SCHWAB CHARLES CORP NEW COM 808513105 1,143 42,450 SH DFND 1 42,450 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 3,175 285,550 SH DFND 1 285,550 0 0
SEATTLE GENETICS INC COM 812578102 363 9,500 SH DFND 1 9,500 0 0
SELECT INCOME REIT COM SH BEN INT 81618T100 519 17,500 SH DFND 1 17,500 0 0
SHIRE PLC SPONSORED ADR 82481R106 1,311 5,565 SH DFND 1 5,565 0 0
SIGA TECHNOLOGIES INC COM 826917106 584 207,254 SH DFND 1 207,254 0 0
SIGNET JEWELERS LIMITED SHS G81276100 4,123 37,283 SH DFND 2 37,283 0 0
SLM CORP COM 78442P106 5,106 614,300 SH Call DFND 3 614,300 0 0
SOTHEBYS COM 835898107 4,144 98,693 SH DFND 2 98,693 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 861 4,400 SH DFND 1 4,400 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 98 500 SH DFND 3 500 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 3,425 17,500 SH Call DFND 3 17,500 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 35,504 181,400 SH Put DFND 1 181,400 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 1,024 24,550 SH DFND 1 24,550 0 0
SPRINT CORP COM SER 1 85207U105 1,706 200,000 SH Call DFND 1 200,000 0 0
SPX CORP COM 784635104 4,001 36,970 SH DFND 2 36,970 0 0
STARZ COM SER A 85571Q102 203 6,800 SH DFND 1 6,800 0 0
STERLING BANCORP DEL COM 85917A100 624 51,960 SH DFND 1 51,960 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 577 12,547 SH DFND 1 12,547 0 0
SUNEDISON INC COM 86732Y109 2,011 89,000 SH DFND 3 89,000 0 0
SUNEDISON INC COM 86732Y109 2,890 127,900 SH Call DFND 3 127,900 0 0
SUNESIS PHARMACEUTICALS INC COM NEW 867328601 282 43,277 SH DFND 3 43,277 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 1,471 31,228 SH DFND 1 31,228 0 0
SUSSER HLDGS CORP COM 869233106 16,790 208,006 SH DFND 1 208,006 0 0
SWS GROUP INC COM 78503N107 910 124,970 SH DFND 1 124,970 0 0
SYSCO CORP COM 871829107 1,936 51,700 SH Put DFND 1 51,700 0 0
TEAM HEALTH HOLDINGS INC COM 87817A107 100 2,000 SH DFND 3 2,000 0 0
TEAM HEALTH HOLDINGS INC COM 87817A107 250 5,000 SH Call DFND 3 5,000 0 0
TESORO CORP COM 881609101 235 4,000 SH DFND 1 4,000 0 0
TETRAPHASE PHARMACEUTICALS I COM 88165N105 248 18,400 SH DFND 1 18,400 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 393 7,500 SH DFND 1 7,500 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 3,980 33,733 SH DFND 2 33,733 0 0
TIME WARNER CABLE INC COM 88732J207 49,019 332,782 SH DFND 1 332,782 0 0
TIME WARNER CABLE INC COM 88732J207 498 3,383 SH DFND 3 3,383 0 0
TIMKEN CO COM 887389104 4,109 60,567 SH DFND 2 60,567 0 0
T-MOBILE US INC COM 872590104 2,688 79,940 SH DFND 1 79,940 0 0
TOWER GROUP INTL LTD COM G8988C105 430 238,600 SH Put DFND 1 238,600 0 0
TRIANGLE PETE CORP COM NEW 89600B201 1,880 160,038 SH DFND 1 160,038 0 0
TRINITY INDS INC COM 896522109 785 17,950 SH DFND 1 17,950 0 0
TRIUMPH GROUP INC NEW COM 896818101 3,941 56,452 SH DFND 2 56,452 0 0
ULTRAGENYX PHARMACEUTICAL IN COM 90400D108 6,300 140,337 SH DFND 1 140,337 0 0
UNION PAC CORP COM 907818108 299 3,000 SH DFND 1 3,000 0 0
UNS ENERGY CORP COM 903119105 5,236 86,673 SH DFND 1 86,673 0 0
URS CORP NEW COM 903236107 2,636 57,497 SH DFND 1 57,497 0 0
UTI WORLDWIDE INC ORD G87210103 4,172 403,497 SH DFND 2 403,497 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 3,785 30,012 SH DFND 2 30,012 0 0
VANDA PHARMACEUTICALS INC COM 921659108 243 15,000 SH DFND 1 15,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 13,245 270,700 SH Call DFND 1 270,700 0 0
VIRNETX HLDG CORP COM 92823T108 651 37,000 SH Call DFND 3 37,000 0 0
VIRNETX HLDG CORP COM 92823T108 857 48,657 SH DFND 1 48,657 0 0
WALGREEN CO COM 931422109 1,872 25,247 SH DFND 1 25,247 0 0
WAL-MART STORES INC COM 931142103 305 4,063 SH DFND 1 4,063 0 0
WALTER INVT MGMT CORP COM 93317W102 338 11,335 SH DFND 1 11,335 0 0
WENDYS CO COM 95058W100 3,973 465,751 SH DFND 2 465,751 0 0
WILLIAMS COS INC DEL COM 969457100 3,014 51,770 SH DFND 1 51,770 0 0
WILLIAMS COS INC DEL COM 969457100 4,823 82,856 SH DFND 2 82,856 0 0
WILLIAMS PARTNERS L P COM UNIT L P 96950F104 4,817 88,731 SH DFND 1 88,731 0 0
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 2,024 61,600 SH Call DFND 3 61,600 0 0
ZIOPHARM ONCOLOGY INC COM 98973P101 54 13,400 SH DFND 1 13,400 0 0