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 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: 03-31-2016
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, NY  10022
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 YorkNY 05-12-2016
[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: 270
Form 13F Information Table Value Total: 2,659,554
(thousands)
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 13-F Information Table

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 70 90,000 SH   DFND 1 90,000 0 0
AARONS INC COM PAR $0.50 002535300 1,484 59,136 SH   DFND 1 59,136 0 0
ADOBE SYS INC COM 00724F101 6,312 67,296 SH   DFND 2 67,296 0 0
AETNA INC NEW COM 00817Y108 43,435 386,600 SH Put DFND 1 386,600 0 0
AGCO CORP COM 001084102 6,048 121,693 SH   DFND 2 121,693 0 0
AIR PRODS & CHEMS INC COM 009158106 6,282 43,609 SH   DFND 2 43,609 0 0
ALERE INC COM 01449J105 10,122 200,000 SH Call DFND 1 200,000 0 0
ALERE INC COM 01449J105 16,180 319,704 SH   DFND 1 319,704 0 0
ALERE INC COM 01449J105 10,122 200,000 SH Put DFND 1 200,000 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 459 3,300 SH   DFND 1 3,300 0 0
ALKERMES PLC SHS G01767105 342 10,000 SH Call DFND 3 10,000 0 0
ALLERGAN PLC SHS G0177J108 33,504 125,000 SH Call DFND 1 125,000 0 0
ALLERGAN PLC SHS G0177J108 229,326 855,598 SH   DFND 1 855,598 0 0
ALLERGAN PLC SHS G0177J108 5,241 19,552 SH   DFND 2 19,552 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 550 2,500 SH   DFND 1 2,500 0 0
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 860 13,700 SH Call DFND 3 13,700 0 0
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 672 10,700 SH Put DFND 3 10,700 0 0
ALPHABET INC CAP STK CL A 02079K305 1,572 2,060 SH   DFND 1 2,060 0 0
ALPHABET INC CAP STK CL C 02079K107 2,479 3,328 SH   DFND 1 3,328 0 0
AMAZON COM INC COM 023135106 6,824 11,496 SH   DFND 1 11,496 0 0
AMAZON COM INC COM 023135106 950 1,600 SH Call DFND 1 1,600 0 0
AMERCO COM 023586100 393 1,100 SH   DFND 1 1,100 0 0
AMERICAN CAP LTD COM 02503Y103 893 58,600 SH Put DFND 1 58,600 0 0
AMERICAN CAP LTD COM 02503Y103 1,045 68,571 SH   DFND 1 68,571 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 881 16,293 SH   DFND 1 16,293 0 0
AMERICAN STS WTR CO COM 029899101 205 5,200 SH   DFND 1 5,200 0 0
AMGEN INC COM 031162100 2,816 18,783 SH   DFND 1 18,783 0 0
AMGEN INC COM 031162100 3,748 25,000 SH Call DFND 1 25,000 0 0
AMGEN INC COM 031162100 75 500 SH Call DFND 3 500 0 0
AMICUS THERAPEUTICS INC COM 03152W109 262 31,000 SH Call DFND 3 31,000 0 0
AMTRUST FINL SVCS INC COM 032359309 344 13,300 SH   DFND 1 13,300 0 0
APOLLO ED GROUP INC CL A 037604105 5,429 660,800 SH Put DFND 1 660,800 0 0
APOLLO ED GROUP INC CL A 037604105 2,451 298,359 SH   DFND 1 298,359 0 0
APPLE INC COM 037833100 1,705 15,640 SH   DFND 1 15,640 0 0
APRICUS BIOSCIENCES INC COM 03832V109 0 175,000 SH   DFND 1 175,000 0 0
ASTORIA FINL CORP COM 046265104 13,999 883,768 SH   DFND 1 883,768 0 0
AUTODESK INC COM 052769106 6,638 113,848 SH   DFND 2 113,848 0 0
AUTONATION INC COM 05329W102 387 8,300 SH   DFND 1 8,300 0 0
AVIS BUDGET GROUP COM 053774105 471 17,200 SH Call DFND 1 17,200 0 0
BANK OF THE OZARKS INC COM 063904106 399 9,500 SH   DFND 1 9,500 0 0
BAXALTA INC COM 07177M103 155,998 3,861,339 SH   DFND 1 3,861,339 0 0
BAXALTA INC COM 07177M103 30,975 766,700 SH Put DFND 1 766,700 0 0
BELMOND LTD CL A G1154H107 1,515 159,590 SH   DFND 1 159,590 0 0
BLACKROCK CORPOR HI YLD FD I COM 09255P107 1,842 184,725 SH   DFND 1 184,725 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 1,426 96,710 SH   DFND 1 96,710 0 0
BROADSOFT INC COM 11133B409 1,009 25,000 SH   DFND 1 25,000 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 1,750 25,760 SH   DFND 1 25,760 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 340 30,200 SH Call DFND 1 30,200 0 0
BWX TECHNOLOGIES INC COM 05605H100 6,145 183,094 SH   DFND 2 183,094 0 0
C&J ENERGY SVCS LTD SHS G3164Q101 24 17,200 SH   DFND 1 17,200 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 13,416 406,543 SH   DFND 1 406,543 0 0
CALADRIUS BIOSCIENCES INC COM 128058104 0 22,500 SH   DFND 1 22,500 0 0
CANADIAN PAC RY LTD COM 13645T100 6,401 48,244 SH   DFND 2 48,244 0 0
CAPITAL ONE FINL CORP COM 14040H105 499 7,200 SH   DFND 1 7,200 0 0
CARMIKE CINEMAS INC COM 143436400 294 9,795 SH   DFND 3 9,795 0 0
CASEYS GEN STORES INC COM 147528103 419 3,700 SH   DFND 1 3,700 0 0
CDK GLOBAL INC COM 12508E101 6,039 129,739 SH   DFND 2 129,739 0 0
CEL SCI CORP COM PAR $0.01 150837508 0 48,975 SH   DFND 1 48,975 0 0
CELLDEX THERAPEUTICS INC NEW COM 15117B103 39 10,250 SH   DFND 3 10,250 0 0
CELLDEX THERAPEUTICS INC NEW COM 15117B103 114 30,000 SH Put DFND 3 30,000 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 30,365 150,000 SH Put DFND 1 150,000 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 10,122 50,000 SH Call DFND 1 50,000 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 875 10,000 SH   DFND 1 10,000 0 0
CHECKPOINT SYS INC COM 162825103 304 30,000 SH   DFND 3 30,000 0 0
CHESAPEAKE ENERGY CORP COM 165167107 142 34,500 SH   DFND 1 34,500 0 0
CIGNA CORPORATION COM 125509109 24,450 178,155 SH   DFND 1 178,155 0 0
CIGNA CORPORATION COM 125509109 11,089 80,800 SH Put DFND 1 80,800 0 0
CITRIX SYS INC COM 177376100 777 9,882 SH   DFND 1 9,882 0 0
CLEVELAND BIOLABS INC COM NEW 185860202 0 109,375 SH   DFND 1 109,375 0 0
COLUMBIA PIPELINE GROUP INC COM 198280109 16,884 672,657 SH   DFND 1 672,657 0 0
COMSCORE INC COM 20564W105 210 7,000 SH Put DFND 1 7,000 0 0
COMSCORE INC COM 20564W105 210 7,000 SH   DFND 1 7,000 0 0
CONAGRA FOODS INC COM 205887102 1,185 26,564 SH   DFND 1 26,564 0 0
COSTAR GROUP INC COM 22160N109 339 1,800 SH   DFND 1 1,800 0 0
COVENANT TRANSN GROUP INC CL A 22284P105 339 14,000 SH   DFND 1 14,000 0 0
CREDIT ACCEP CORP MICH COM 225310101 399 2,200 SH   DFND 1 2,200 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 14,364 129,200 SH Put DFND 1 129,200 0 0
CURRENCYSHS JAPANESE YEN TR JAPANESE YEN 23130A102 22,228 258,400 SH Put DFND 1 258,400 0 0
CYCLACEL PHARMACEUTICALS INC COM NEW 23254L306 0 52,521 SH   DFND 1 52,521 0 0
CYTRX CORP COM PAR $.001 232828509 0 321,429 SH   DFND 1 321,429 0 0
DELCATH SYS INC COM NEW 24661P401 140 485,900 SH   DFND 1 485,900 0 0
DOMINION DIAMOND CORP COM 257287102 558 50,300 SH Call DFND 1 50,300 0 0
DOMINION DIAMOND CORP COM 257287102 2,723 245,502 SH   DFND 1 245,502 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 12,664 200,000 SH Call DFND 1 200,000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 5,999 94,747 SH   DFND 2 94,747 0 0
E M C CORP MASS COM 268648102 188,943 7,089,787 SH   DFND 1 7,089,787 0 0
E M C CORP MASS COM 268648102 50,332 1,888,600 SH Put DFND 1 1,888,600 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 882 10,000 SH Call DFND 3 10,000 0 0
ELECTRONIC ARTS INC COM 285512109 1,091 16,500 SH Call DFND 1 16,500 0 0
ELECTRONIC ARTS INC COM 285512109 3,813 57,675 SH   DFND 1 57,675 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 279 39,200 SH   DFND 1 39,200 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 865 26,750 SH   DFND 1 26,750 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 1,022 41,525 SH   DFND 1 41,525 0 0
EXELIXIS INC COM 30161Q104 70 17,500 SH   DFND 3 17,500 0 0
FACEBOOK INC CL A 30303M102 3,866 33,883 SH   DFND 1 33,883 0 0
FELCOR LODGING TR INC COM 31430F101 1,182 145,606 SH   DFND 1 145,606 0 0
FELCOR LODGING TR INC COM 31430F101 124 15,300 SH Call DFND 1 15,300 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 6,005 177,139 SH   DFND 2 177,139 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 6,202 97,964 SH   DFND 2 97,964 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 999 32,310 SH   DFND 1 32,310 0 0
GENERAL ELECTRIC CO COM 369604103 6,302 198,227 SH   DFND 2 198,227 0 0
GENTHERM INC COM 37253A103 579 13,911 SH   DFND 1 13,911 0 0
GERON CORP COM 374163103 56 19,300 SH   DFND 1 19,300 0 0
GILEAD SCIENCES INC COM 375558103 2,445 26,613 SH   DFND 1 26,613 0 0
GILEAD SCIENCES INC COM 375558103 5,512 60,000 SH Call DFND 1 60,000 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 400 31,100 SH   DFND 1 31,100 0 0
HAIN CELESTIAL GROUP INC COM 405217100 511 12,500 SH   DFND 1 12,500 0 0
HCA HOLDINGS INC COM 40412C101 2,599 33,300 SH Call DFND 3 33,300 0 0
HOUSTON AMERN ENERGY CORP COM 44183U100 8 38,000 SH   DFND 1 38,000 0 0
HUMANA INC COM 444859102 30,297 165,600 SH Put DFND 1 165,600 0 0
HUMANA INC COM 444859102 82,012 448,275 SH   DFND 1 448,275 0 0
IAC INTERACTIVECORP COM 44919P508 824 17,500 SH   DFND 1 17,500 0 0
IMMUNOCELLULAR THERAPEUTICS COM 452536105 0 225,909 SH   DFND 1 225,909 0 0
INCONTACT INC COM 45336E109 145 16,300 SH   DFND 1 16,300 0 0
INGRAM MICRO INC CL A 457153104 25,198 701,702 SH   DFND 1 701,702 0 0
INPHI CORP COM 45772F107 203 6,100 SH   DFND 1 6,100 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 325 15,900 SH   DFND 1 15,900 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 682 4,500 SH   DFND 1 4,500 0 0
INVESTORS BANCORP INC NEW COM 46146L101 5,838 501,538 SH   DFND 2 501,538 0 0
INVESTORS BANCORP INC NEW COM 46146L101 151 13,000 SH   DFND 1 13,000 0 0
ISHARES MSCI BRZ CAP ETF 464286400 6,796 258,400 SH Call DFND 1 258,400 0 0
ISHARES MSCI BRZ CAP ETF 464286400 16,990 646,000 SH Put DFND 1 646,000 0 0
ISHARES MSCI ITALCPD ETF 464286855 3,467 284,200 SH Call DFND 1 284,200 0 0
ISHARES MSCI JAPAN ETF 464286848 12,746 1,117,100 SH Call DFND 1 1,117,100 0 0
ISHARES MSCI STH KOR ETF 464286772 5,462 103,400 SH Put DFND 1 103,400 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 1,867 55,300 SH Call DFND 1 55,300 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 172,418 1,558,500 SH Put DFND 1 1,558,500 0 0
ITC HLDGS CORP COM 465685105 11,354 260,581 SH   DFND 1 260,581 0 0
JACK IN THE BOX INC COM 466367109 2,320 36,323 SH   DFND 1 36,323 0 0
JPMORGAN CHASE & CO COM 46625H100 2,057 35,000 SH Put DFND 3 35,000 0 0
JPMORGAN CHASE & CO COM 46625H100 2,132 36,000 SH   DFND 3 36,000 0 0
KATE SPADE & CO COM 485865109 2,819 110,443 SH   DFND 1 110,443 0 0
KEMPHARM INC COM 488445107 487 33,574 SH   DFND 1 33,574 0 0
KEMPHARM INC COM 488445107 302 20,861 SH   DFND 3 20,861 0 0
KEYCORP NEW COM 493267108 5,674 513,989 SH   DFND 1 513,989 0 0
KINDER MORGAN INC DEL COM 49456B101 1,052 58,900 SH   DFND 1 58,900 0 0
LA QUINTA HLDGS INC COM 50420D108 250 20,000 SH   DFND 1 20,000 0 0
LAM RESEARCH CORP COM 512807108 12,466 150,922 SH   DFND 1 150,922 0 0
LANCASTER COLONY CORP COM 513847103 354 3,200 SH   DFND 1 3,200 0 0
LEAPFROG ENTERPRISES INC CL A 52186N106 13 13,395 SH   DFND 3 13,395 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 17,699 459,700 SH Call DFND 1 459,700 0 0
LIMELIGHT NETWORKS INC COM 53261M104 176 97,500 SH   DFND 1 97,500 0 0
LIONS GATE ENTMNT CORP COM NEW 535919203 371 16,980 SH   DFND 1 16,980 0 0
LITHIA MTRS INC CL A 536797103 227 2,600 SH   DFND 1 2,600 0 0
MACYS INC COM 55616P104 1,329 30,143 SH   DFND 1 30,143 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 637 3,830 SH   DFND 1 3,830 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 1,154 16,772 SH   DFND 1 16,772 0 0
MAIN STREET CAPITAL CORP COM 56035L104 1,774 56,600 SH Put DFND 1 56,600 0 0
MANHATTAN ASSOCS INC COM 562750109 415 7,300 SH   DFND 1 7,300 0 0
MBIA INC COM 55262C100 105 11,900 SH   DFND 1 11,900 0 0
MCDONALDS CORP COM 580135101 628 5,000 SH Put DFND 3 5,000 0 0
MEDIA GEN INC NEW COM 58441K100 23,569 1,445,050 SH   DFND 1 1,445,050 0 0
MGM RESORTS INTERNATIONAL COM 552953101 2,940 137,147 SH   DFND 1 137,147 0 0
MICROSOFT CORP COM 594918104 592 10,710 SH   DFND 1 10,710 0 0
MICROSOFT CORP COM 594918104 6,274 113,604 SH   DFND 2 113,604 0 0
MIDDLEBY CORP COM 596278101 416 3,900 SH   DFND 1 3,900 0 0
MOLSON COORS BREWING CO CL B 60871R209 6,239 64,866 SH   DFND 1 64,866 0 0
MOLSON COORS BREWING CO CL B 60871R209 1,347 14,000 SH Put DFND 1 14,000 0 0
MONDELEZ INTL INC CL A 609207105 5,746 143,226 SH   DFND 2 143,226 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 5,893 77,850 SH   DFND 2 77,850 0 0
MSG NETWORK INC CL A 553573106 676 39,107 SH   DFND 1 39,107 0 0
MYLAN N V SHS EURO N59465109 14,897 321,400 SH Call DFND 1 321,400 0 0
MYLAN N V SHS EURO N59465109 967 20,860 SH   DFND 1 20,860 0 0
NANOVIRICIDES INC COM NEW 630087203 12 373,750 SH   DFND 1 373,750 0 0
NEW JERSEY RES COM 646025106 255 7,000 SH   DFND 1 7,000 0 0
NEW YORK REIT INC COM 64976L109 505 50,000 SH Put DFND 1 50,000 0 0
NEW YORK REIT INC COM 64976L109 505 50,000 SH   DFND 1 50,000 0 0
NEWLINK GENETICS CORP COM 651511107 182 10,000 SH Call DFND 3 10,000 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 221 5,000 SH   DFND 1 5,000 0 0
NEXSTAR BROADCASTING GROUP I CL A 65336K103 8,898 201,000 SH Put DFND 1 201,000 0 0
NEXVET BIOPHARMA PUB LTD CO ORD SHS G6503X109 91 27,485 SH   DFND 1 27,485 0 0
NISOURCE INC COM 65473P105 410 17,400 SH   DFND 1 17,400 0 0
NOBLE CORP PLC SHS USD G65431101 311 30,000 SH Call DFND 3 30,000 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 325 28,600 SH   DFND 1 28,600 0 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 2,874 51,989 SH   DFND 1 51,989 0 0
NOVAVAX INC COM 670002104 75 14,500 SH   DFND 1 14,500 0 0
NVIDIA CORP COM 67066G104 1,148 32,230 SH   DFND 1 32,230 0 0
OCULAR THERAPEUTIX INC COM 67576A100 1,407 145,700 SH   DFND 1 145,700 0 0
ONCOTHYREON INC COM 682324108 145 114,200 SH   DFND 1 114,200 0 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 978 31,141 SH   DFND 1 31,141 0 0
OPOWER INC COM 68375Y109 238 35,000 SH   DFND 1 35,000 0 0
ORGANOVO HLDGS INC COM 68620A104 126 58,000 SH   DFND 1 58,000 0 0
PARSLEY ENERGY INC CL A 701877102 848 37,500 SH Call DFND 3 37,500 0 0
PENN NATL GAMING INC COM 707569109 2,604 156,040 SH   DFND 1 156,040 0 0
PEPSICO INC COM 713448108 6,072 59,250 SH   DFND 2 59,250 0 0
PFIZER INC COM 717081103 88,920 3,000,000 SH Put DFND 1 3,000,000 0 0
PFIZER INC COM 717081103 168,159 5,673,400 SH Call DFND 1 5,673,400 0 0
PHILLIPS 66 COM 718546104 1,732 20,000 SH Call DFND 3 20,000 0 0
PINNACLE ENTMT INC COM 723456109 1,684 47,984 SH   DFND 1 47,984 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 279 13,300 SH   DFND 1 13,300 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 234 26,950 SH   DFND 1 26,950 0 0
PLURISTEM THERAPEUTICS INC COM 72940R102 0 180,000 SH   DFND 1 180,000 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 13,961 614,600 SH Put DFND 1 614,600 0 0
PROOFPOINT INC COM 743424103 215 4,000 SH   DFND 1 4,000 0 0
PROSPECT CAPITAL CORPORATION COM 74348T102 2,009 276,300 SH Put DFND 1 276,300 0 0
PRUDENTIAL SHT DURATION HG Y COM 74442F107 1,401 91,000 SH   DFND 1 91,000 0 0
QUANTUM FUEL SYS TECH WORLDW COM PAR $0.02 74765E307 0 110,202 SH   DFND 1 110,202 0 0
RACKSPACE HOSTING INC COM 750086100 5,866 271,696 SH   DFND 2 271,696 0 0
RADIUS HEALTH INC COM NEW 750469207 236 7,500 SH   DFND 1 7,500 0 0
RELYPSA INC COM 759531106 203 15,000 SH Call DFND 3 15,000 0 0
REMARK MEDIA INC COM 75954W107 1 22,222 SH   DFND 1 22,222 0 0
REPLIGEN CORP COM 759916109 19,284 53,500 SH Call DFND 3 53,500 0 0
RETROPHIN INC COM 761299106 137 10,000 SH Put DFND 3 10,000 0 0
RETROPHIN INC COM 761299106 41 3,000 SH   DFND 3 3,000 0 0
RITE AID CORP COM 767754104 34,189 4,195,021 SH   DFND 1 4,195,021 0 0
RITE AID CORP COM 767754104 57 7,000 SH   DFND 3 7,000 0 0
SALLY BEAUTY HLDGS INC COM 79546E104 291 9,000 SH   DFND 1 9,000 0 0
SANCHEZ ENERGY CORP COM 79970Y105 2,352 428,355 SH   DFND 1 428,355 0 0
SANDISK CORP COM 80004C101 15,026 197,500 SH Put DFND 1 197,500 0 0
SANDISK CORP COM 80004C101 115,953 1,524,093 SH   DFND 1 1,524,093 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 2,512 266,434 SH   DFND 1 266,434 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 8,224 155,000 SH Call DFND 1 155,000 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 10,962 206,600 SH Put DFND 1 206,600 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 1,274 18,800 SH Call DFND 3 18,800 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 14,037 207,100 SH   DFND 2 207,100 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 1,274 18,800 SH Put DFND 3 18,800 0 0
SERVICE CORP INTL COM 817565104 420 17,000 SH   DFND 1 17,000 0 0
SIGNET JEWELERS LIMITED SHS G81276100 7,292 58,790 SH   DFND 2 58,790 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 2,600 22,105 SH   DFND 1 22,105 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 9,080 130,100 SH Call DFND 1 130,100 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 25,340 123,300 SH Put DFND 1 123,300 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 3,083 15,000 SH Put DFND 3 15,000 0 0
SPDR SERIES TRUST S&P BIOTECH 78464A870 284 5,500 SH Put DFND 3 5,500 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 15,129 447,100 SH Call DFND 1 447,100 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755 3,171 155,000 SH Put DFND 1 155,000 0 0
STAPLES INC COM 855030102 3,798 344,400 SH Call DFND 1 344,400 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 79,688 955,148 SH   DFND 1 955,148 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 20,858 250,000 SH Call DFND 1 250,000 0 0
STERLING BANCORP DEL COM 85917A100 828 51,960 SH   DFND 1 51,960 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 521 17,426 SH   DFND 1 17,426 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 852 34,004 SH   DFND 1 34,004 0 0
SUNOCO LP COM U REP LP 86765K109 540 16,300 SH   DFND 1 16,300 0 0
SYNAPTICS INC COM 87157D109 295 3,700 SH   DFND 1 3,700 0 0
SYNERGY PHARMACEUTICALS DEL COM NEW 871639308 492 178,200 SH   DFND 1 178,200 0 0
SYSCO CORP COM 871829107 6,295 134,717 SH   DFND 2 134,717 0 0
TELIGENT INC NEW COM 87960W104 56 11,500 SH   DFND 1 11,500 0 0
TEMPUR SEALY INTL INC COM 88023U101 419 6,900 SH   DFND 1 6,900 0 0
TESARO INC COM 881569107 40 900 SH   DFND 3 900 0 0
TESARO INC COM 881569107 198 4,500 SH Put DFND 3 4,500 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 5,030 94,000 SH Call DFND 1 94,000 0 0
THE ADT CORPORATION COM 00101J106 26,006 630,300 SH Put DFND 1 630,300 0 0
THE ADT CORPORATION COM 00101J106 3,517 85,246 SH   DFND 1 85,246 0 0
TIME WARNER CABLE INC COM 88732J207 220,897 1,079,548 SH   DFND 1 1,079,548 0 0
TIME WARNER INC COM NEW 887317303 1,566 21,580 SH   DFND 1 21,580 0 0
TREEHOUSE FOODS INC COM 89469A104 2,267 26,136 SH   DFND 1 26,136 0 0
TRUECAR INC COM 89785L107 61 11,000 SH   DFND 1 11,000 0 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 6,042 214,260 SH   DFND 2 214,260 0 0
TYLER TECHNOLOGIES INC COM 902252105 399 3,100 SH   DFND 1 3,100 0 0
USA TECHNOLOGIES INC COM NO PAR 90328S500 1,690 953,125 SH   DFND 1 953,125 0 0
V F CORP COM 918204108 1,036 16,000 SH Put DFND 1 16,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 1,900 72,261 SH   DFND 2 72,261 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 13 500 SH   DFND 3 500 0 0
VEREIT INC COM 92339V100 6,502 733,066 SH   DFND 2 733,066 0 0
VIPER ENERGY PARTNERS LP COM UNT RP INT 92763M105 1,285 78,782 SH   DFND 1 78,782 0 0
VMWARE INC CL A COM 928563402 4,750 90,800 SH Put DFND 1 90,800 0 0
VONAGE HLDGS CORP COM 92886T201 77 16,900 SH   DFND 1 16,900 0 0
VORNADO RLTY TR SH BEN INT 929042109 3,818 40,432 SH   DFND 1 40,432 0 0
WELLCARE HEALTH PLANS INC COM 94946T106 881 9,500 SH Call DFND 3 9,500 0 0
WENDYS CO COM 95058W100 1,306 119,938 SH   DFND 1 119,938 0 0
WESTERN DIGITAL CORP COM 958102105 8,512 180,200 SH Put DFND 1 180,200 0 0
WISDOMTREE TR CHINESE YUAN FD 97717W182 2,568 102,700 SH Call DFND 1 102,700 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 22,258 428,700 SH Call DFND 1 428,700 0 0
WORLD WRESTLING ENTMT INC CL A 98156Q108 1,406 79,604 SH   DFND 1 79,604 0 0
WYNDHAM WORLDWIDE CORP COM 98310W108 405 5,300 SH   DFND 1 5,300 0 0
XILINX INC COM 983919101 5,712 120,435 SH   DFND 2 120,435 0 0
XOMA CORP DEL COM 98419J107 0 113,636 SH   DFND 1 113,636 0 0
YAHOO INC COM 984332106 1,590 43,189 SH   DFND 1 43,189 0 0
YUM BRANDS INC COM 988498101 6,679 81,600 SH   DFND 2 81,600 0 0
ZOETIS INC CL A 98978V103 815 18,393 SH   DFND 1 18,393 0 0
ZOETIS INC CL A 98978V103 6,099 137,580 SH   DFND 2 137,580 0 0