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: 03-31-2017
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 05-11-2017
[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: 243
Form 13F Information Table Value Total: 2,072,061
(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
2 028-04125 COWEN & COMPANY, LLC
3 028-17713 Quadratic Capital Management 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
ABBVIE INC COM 00287Y109 326 50 SH Put DFND 2 50 0 0
ABBVIE INC COM 00287Y109 130 2,000 SH   DFND 2 2,000 0 0
AERIE PHARMACEUTICALS INC COM 00771V108 454 100 SH Call DFND 2 100 0 0
AIR METHODS CORP COM PAR $.06 009128307 13,629 316,961 SH   DFND 1 316,961 0 0
ALERE INC COM 01449J105 4,059 102,161 SH   DFND 1 102,161 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 17,695 164,100 SH Put DFND 1 164,100 0 0
ALLERGAN PLC SHS G0177J108 3,524 14,750 SH   DFND 1 14,750 0 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 61,490 1,158,012 SH   DFND 1 1,158,012 0 0
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 292 57 SH Call DFND 2 57 0 0
ALPHABET INC CAP STK CL A 02079K305 441 520 SH   DFND 1 520 0 0
ALPHABET INC CAP STK CL C 02079K107 1,224 1,476 SH   DFND 1 1,476 0 0
AMAZON COM INC COM 023135106 6,661 7,513 SH   DFND 1 7,513 0 0
AMICUS THERAPEUTICS INC COM 03152W109 150 21,000 SH   DFND 2 21,000 0 0
AMICUS THERAPEUTICS INC COM 03152W109 250 350 SH Put DFND 2 350 0 0
ANDINA ACQUISITION CORP II SHS G0441P104 1,411 139,853 SH   DFND 2 139,853 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 811 7,385 SH   DFND 1 7,385 0 0
ARRAY BIOPHARMA INC COM 04269X105 679 760 SH Call DFND 2 760 0 0
ARRAY BIOPHARMA INC COM 04269X105 679 760 SH Put DFND 2 760 0 0
ARRAY BIOPHARMA INC COM 04269X105 381 42,600 SH   DFND 2 42,600 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 2,175 341,380 SH   DFND 1 341,380 0 0
AT&T INC COM 00206R102 1,928 464 SH Call DFND 2 464 0 0
AT&T INC COM 00206R102 3,066 738 SH Put DFND 2 738 0 0
AVISTA HEALTHCARE PUB ACQ CO *W EXP 99/99/999 G0726L117 17 33,400 SH   DFND 2 33,400 0 0
AVISTA HEALTHCARE PUB ACQ CO CL A G0726L125 575 58,160 SH   DFND 2 58,160 0 0
BARINGTON HILCO ACQUISITION COM 06759V101 2,332 227,485 SH   DFND 2 227,485 0 0
BIOVERATIV INC COM 09075E100 971 17,836 SH   DFND 1 17,836 0 0
BLACKROCK CORPOR HI YLD FD I COM 09255P107 509 46,634 SH   DFND 1 46,634 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 570 31,140 SH   DFND 1 31,140 0 0
BOULEVARD ACQUISITION CL A 10157Q102 2,002 199,848 SH   DFND 2 199,848 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 9,174 1,687 SH Call DFND 2 1,687 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 2,719 500 SH Put DFND 2 500 0 0
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 3,979 60,000 SH   DFND 1 60,000 0 0
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 3,316 50,000 SH Call DFND 1 50,000 0 0
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 81,870 6,560,136 SH   DFND 1 6,560,136 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 373 5,440 SH   DFND 1 5,440 0 0
CABELAS INC COM 126804301 2,484 46,774 SH   DFND 1 46,774 0 0
CABELAS INC COM 126804301 106 2,000 SH   DFND 2 2,000 0 0
CABELAS INC COM 126804301 48 9 SH Call DFND 2 9 0 0
CABELAS INC COM 126804301 9,687 182,400 SH Put DFND 1 182,400 0 0
CADENCE DESIGN SYSTEM INC COM 127387108 937 29,850 SH   DFND 1 29,850 0 0
CAPITAL ONE FINL CORP COM 14040H105 433 5,000 SH   DFND 1 5,000 0 0
CAPITOL ACQUISITION CORP III *W EXP 10/19/202 14055M114 306 160,931 SH   DFND 2 160,931 0 0
CAPITOL ACQUISITION CORP III UNIT 99/99/9999 14055M205 340 29,473 SH   DFND 2 29,473 0 0
CENTRAL FD CDA LTD CL A 153501101 2,345 182,350 SH   DFND 1 182,350 0 0
CENTURYLINK INC COM 156700106 31,441 1,333,900 SH Call DFND 1 1,333,900 0 0
CENTURYLINK INC COM 156700106 1,445 613 SH Call DFND 2 613 0 0
CF CORP *W EXP 05/25/202 G20307115 396 290,873 SH   DFND 2 290,873 0 0
CF CORP UNIT 99/99/9999E G20307123 3,318 310,101 SH   DFND 2 310,101 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 4,451 136 SH Call DFND 2 136 0 0
CHEMTURA CORP COM NEW 163893209 1,705 51,060 SH   DFND 1 51,060 0 0
CIGNA CORPORATION COM 125509109 9,826 67,078 SH   DFND 1 67,078 0 0
CISCO SYS INC COM 17275R102 169 5,000 SH   DFND 2 5,000 0 0
CISCO SYS INC COM 17275R102 338 100 SH Put DFND 2 100 0 0
CITRIX SYS INC COM 177376100 9,965 119,493 SH   DFND 1 119,493 0 0
CLOVIS ONCOLOGY INC COM 189464100 96 1,500 SH   DFND 2 1,500 0 0
CLOVIS ONCOLOGY INC COM 189464100 1,458 229 SH Call DFND 2 229 0 0
CLOVIS ONCOLOGY INC COM 189464100 1,458 229 SH Put DFND 2 229 0 0
COBALT INTL ENERGY INC COM 19075F106 13 25,000 SH   DFND 2 25,000 0 0
COMMUNITY HEALTH SYS INC NEW RIGHT 99/99/9999 203668116 1 151,251 SH   DFND 2 151,251 0 0
CONAGRA BRANDS INC COM 205887102 1,152 28,569 SH   DFND 1 28,569 0 0
CONAGRA BRANDS INC COM 205887102 1,311 32,500 SH Call DFND 1 32,500 0 0
CONDUENT INC COM 206787103 1,389 82,800 SH   DFND 1 82,800 0 0
CPFL ENERGIA S A SPONSORED ADR 126153105 4,917 300,000 SH   DFND 1 300,000 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 5,894 57,000 SH Call DFND 3 57,000 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 5,894 57,000 SH Put DFND 3 57,000 0 0
CURRENCYSHS JAPANESE YEN TR JAPANESE YEN 23130A102 49,334 570,200 SH Put DFND 3 570,200 0 0
CYTOSORBENTS CORP COM NEW 23283X206 248 55,065 SH   DFND 2 55,065 0 0
DASEKE INC *W EXP 03/31/202 23753F115 325 289,908 SH   DFND 2 289,908 0 0
DELL TECHNOLOGIES INC COM CL V 24703L103 52,286 815,954 SH   DFND 1 815,954 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 858 50,000 SH   DFND 1 50,000 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 1,287 75,000 SH Put DFND 1 75,000 0 0
DEUTSCHE BK AG RIGHT 04/06/2017 D1T769565 118 50,000 SH   DFND 1 50,000 0 0
DOLLAR GEN CORP NEW COM 256677105 244 3,500 SH   DFND 1 3,500 0 0
DOLLAR TREE INC COM 256746108 275 3,500 SH   DFND 1 3,500 0 0
DOUBLE EAGLE ACQUISITION COR *W EXP 09/16/202 G28195116 44 78,500 SH   DFND 2 78,500 0 0
DOW CHEM CO COM 260543103 1,862 293 SH Call DFND 2 293 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 4,017 500 SH Put DFND 2 500 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 40,277 501,395 SH   DFND 1 501,395 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 2,285 65,500 SH   DFND 2 65,500 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 2,791 800 SH Call DFND 2 800 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 2,442 700 SH Put DFND 2 700 0 0
ELECTRUM SPL ACQUISITION COR SHS G3105C104 1,146 114,614 SH   DFND 2 114,614 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 931 33,735 SH   DFND 1 33,735 0 0
FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 10,893 656,225 SH   DFND 1 656,225 0 0
FELCOR LODGING TR INC COM 31430F101 9,796 1,304,395 SH   DFND 1 1,304,395 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 2,521 64,742 SH   DFND 1 64,742 0 0
FINTECH ACQUISITION CORP II UNIT 99/99/9999 31810G208 126 12,313 SH   DFND 2 12,313 0 0
FREDS INC CL A 356108100 328 250 SH Call DFND 2 250 0 0
GENERAL DYNAMICS CORP COM 369550108 562 3,000 SH   DFND 1 3,000 0 0
GORES HLDGS II INC *W EXP 03/06/202 382867117 67 53,417 SH   DFND 2 53,417 0 0
GORES HLDGS II INC UNIT 99/99/9999 382867208 1,717 166,888 SH   DFND 2 166,888 0 0
GTY TECHNOLOGY HOLDINGS INC UNIT 99/99/9999 G4182A110 1,678 162,619 SH   DFND 2 162,619 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 26 2,000 SH   DFND 2 2,000 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 518 400 SH Call DFND 2 400 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 259 200 SH Put DFND 2 200 0 0
HCA HOLDINGS INC COM 40412C101 3,132 352 SH Call DFND 2 352 0 0
HEADWATERS INC COM 42210P102 14,165 603,282 SH   DFND 1 603,282 0 0
HOLLYFRONTIER CORP COM 436106108 567 20,000 SH   DFND 2 20,000 0 0
HOLLYFRONTIER CORP COM 436106108 1,165 411 SH Put DFND 2 411 0 0
HOLOGIC INC COM 436440101 213 5,000 SH   DFND 2 5,000 0 0
HOLOGIC INC COM 436440101 319 75 SH Put DFND 2 75 0 0
HOSTESS BRANDS INC *W EXP 11/04/202 44109J114 2,947 1,044,897 SH   DFND 2 1,044,897 0 0
HRG GROUP INC COM 40434J100 4,236 219,250 SH   DFND 1 219,250 0 0
ILG INC COM 44967H101 589 28,100 SH   DFND 1 28,100 0 0
IMPERVA INC COM 45321L100 776 18,908 SH   DFND 1 18,908 0 0
INSPIRED ENTMT INC COM 45782N108 133 12,558 SH   DFND 2 12,558 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 784 4,500 SH   DFND 1 4,500 0 0
INTREPID POTASH INC COM 46121Y102 17 10,000 SH   DFND 2 10,000 0 0
ISHARES MSCI CDA ETF 464286509 9,196 342,100 SH Call DFND 3 342,100 0 0
ISHARES MSCI STH KOR ETF 464286772 32,915 532,000 SH Call DFND 3 532,000 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 863 50,000 SH Put DFND 1 50,000 0 0
ISHARES TR MSCI EAFE ETF 464287465 2,367 38,000 SH Call DFND 3 38,000 0 0
ISHARES TR MSCI UK ETF NEW 46435G334 6,155 189,100 SH Put DFND 3 189,100 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 609 2,075 SH   DFND 1 2,075 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 158,584 1,153,500 SH Put DFND 1 1,153,500 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 481 35 SH Put DFND 2 35 0 0
JOHNSON CTLS INTL PLC SHS G51502105 1,145 27,180 SH   DFND 1 27,180 0 0
JUNO THERAPEUTICS INC COM 48205A109 224 101 SH Call DFND 2 101 0 0
KATE SPADE & CO COM 485865109 980 422 SH Put DFND 2 422 0 0
KATE SPADE & CO COM 485865109 2,439 105,005 SH   DFND 1 105,005 0 0
KATE SPADE & CO COM 485865109 348 15,000 SH   DFND 2 15,000 0 0
KATE SPADE & CO COM 485865109 4,051 1,745 SH Call DFND 2 1,745 0 0
KAYNE ANDERSON ACQUISITION UNIT 06/30/2022 48661U201 2,714 270,826 SH   DFND 1 270,826 0 0
KINDER MORGAN INC DEL *W EXP 05/25/201 49456B119 2 881,814 SH   DFND 2 881,814 0 0
LA JOLLA PHARMACEUTICAL CO COM PAR $.0001 2 503459604 299 100 SH Call DFND 2 100 0 0
LENNAR CORP CL B 526057302 700 16,736 SH   DFND 1 16,736 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 128,102 2,238,768 SH   DFND 1 2,238,768 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 6,342 74,533 SH   DFND 1 74,533 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 386 16,750 SH   DFND 1 16,750 0 0
LIBERTY INTERACTIVE CORP LBT VEN COM A NE 53071M856 7,873 177,007 SH   DFND 1 177,007 0 0
LIBERTY INTERACTIVE CORP QVC GP COM SER A 53071M104 1,236 61,749 SH   DFND 1 61,749 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 10,340 265,674 SH   DFND 1 265,674 0 0
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM 531229607 3,421 88,207 SH   DFND 1 88,207 0 0
LIBERTY MEDIA CORP DELAWARE COM SER A FRMLA 531229870 5,354 163,718 SH   DFND 1 163,718 0 0
LMI AEROSPACE INC COM 502079106 730 530 SH Put DFND 2 530 0 0
LOGMEIN INC COM 54142L109 1,511 15,500 SH   DFND 1 15,500 0 0
M III ACQUISITION CORP UNIT 99/99/9999T 55378T203 962 95,500 SH   DFND 1 95,500 0 0
M III ACQUISITION CORP UNIT 99/99/9999T 55378T203 94 9,360 SH   DFND 2 9,360 0 0
MACYS INC COM 55616P104 1,770 597 SH Call DFND 2 597 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 1,076 13,984 SH   DFND 1 13,984 0 0
MATTEL INC COM 577081102 1,281 500 SH Call DFND 2 500 0 0
MEAD JOHNSON NUTRITION CO COM 582839106 112,719 1,265,370 SH   DFND 1 1,265,370 0 0
MEAD JOHNSON NUTRITION CO COM 582839106 7,741 869 SH Call DFND 2 869 0 0
MEAD JOHNSON NUTRITION CO COM 582839106 4,375 491 SH Put DFND 2 491 0 0
MEDICINES CO COM 584688105 245 5,000 SH   DFND 2 5,000 0 0
MEDICINES CO COM 584688105 807 165 SH Put DFND 2 165 0 0
MERCK & CO INC COM 58933Y105 1,106 174 SH Call DFND 2 174 0 0
MOBILEYE N V AMSTELVEEN ORD SHS N51488117 7,061 1,150 SH Put DFND 2 1,150 0 0
MOBILEYE N V AMSTELVEEN ORD SHS N51488117 104,505 1,702,033 SH   DFND 1 1,702,033 0 0
MOBILEYE N V AMSTELVEEN ORD SHS N51488117 1,842 30,000 SH   DFND 2 30,000 0 0
MOBILEYE N V AMSTELVEEN ORD SHS N51488117 8,535 1,390 SH Call DFND 2 1,390 0 0
MOLSON COORS BREWING CO CL B 60871R209 1,834 19,164 SH   DFND 1 19,164 0 0
MONSANTO CO NEW COM 61166W101 114,876 1,014,804 SH   DFND 1 1,014,804 0 0
MONSANTO CO NEW COM 61166W101 53,453 472,200 SH Call DFND 1 472,200 0 0
MONSANTO CO NEW COM 61166W101 3,894 34,400 SH Put DFND 1 34,400 0 0
MOSAIC CO NEW COM 61945C103 248 85 SH Call DFND 2 85 0 0
NCR CORP NEW COM 62886E108 457 10,000 SH   DFND 2 10,000 0 0
NCR CORP NEW COM 62886E108 799 175 SH Call DFND 2 175 0 0
NCR CORP NEW COM 62886E108 114 25 SH Put DFND 2 25 0 0
NEW YORK REIT INC COM 64976L109 39,758 4,102,957 SH   DFND 1 4,102,957 0 0
NEW YORK REIT INC COM 64976L109 1,502 155,000 SH Call DFND 1 155,000 0 0
NEXEO SOLUTIONS INC *W EXP 06/09/202 65342H110 45 62,037 SH   DFND 2 62,037 0 0
NEXTERA ENERGY INC COM 65339F101 642 5,000 SH   DFND 1 5,000 0 0
NIELSEN HLDGS PLC SHS EUR G6518L108 929 22,500 SH   DFND 1 22,500 0 0
NIMBLE STORAGE INC COM 65440R101 2,500 2,000 SH Call DFND 2 2,000 0 0
NIMBLE STORAGE INC COM 65440R101 8,552 684,200 SH Call DFND 1 684,200 0 0
NORTHROP GRUMMAN CORP COM 666807102 476 2,000 SH   DFND 1 2,000 0 0
NVIDIA CORP COM 67066G104 709 6,511 SH   DFND 1 6,511 0 0
NXP SEMICONDUCTORS N V COM N6596X109 143,847 1,389,828 SH   DFND 1 1,389,828 0 0
NXP SEMICONDUCTORS N V COM N6596X109 1,035 10,000 SH   DFND 2 10,000 0 0
NXP SEMICONDUCTORS N V COM N6596X109 10,112 977 SH Call DFND 2 977 0 0
NXP SEMICONDUCTORS N V COM N6596X109 6,935 670 SH Put DFND 2 670 0 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 957 95,670 SH   DFND 1 95,670 0 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 364 6,750 SH   DFND 1 6,750 0 0
ORGANOVO HLDGS INC COM 68620A104 80 25,000 SH   DFND 1 25,000 0 0
PANDORA MEDIA INC COM 698354107 621 52,600 SH Call DFND 1 52,600 0 0
PANDORA MEDIA INC COM 698354107 1,049 88,800 SH   DFND 1 88,800 0 0
PARATEK PHARMACEUTICALS INC COM 699374302 193 100 SH Call DFND 2 100 0 0
PARATEK PHARMACEUTICALS INC COM 699374302 193 100 SH Put DFND 2 100 0 0
PAYPAL HLDGS INC COM 70450Y103 1,064 24,737 SH   DFND 1 24,737 0 0
PENN NATL GAMING INC COM 707569109 1,010 54,800 SH Call DFND 1 54,800 0 0
PENN NATL GAMING INC COM 707569109 2,454 133,150 SH   DFND 1 133,150 0 0
PETROBRAS ARGENTINA S A SPONS ADR 71646J109 1,798 162,731 SH   DFND 1 162,731 0 0
PINNACLE ENTMT INC NEW COM 72348Y105 589 30,191 SH   DFND 1 30,191 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 629 19,900 SH   DFND 1 19,900 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 21,543 926,200 SH Put DFND 3 926,200 0 0
PRIVATEBANCORP INC COM 742962103 3,068 51,672 SH   DFND 1 51,672 0 0
PROSHARES TR PSHS ULSHT SP500 74347B300 759 56,425 SH   DFND 1 56,425 0 0
PROSPECT CAPITAL CORPORATION COM 74348T102 2,242 248,000 SH Put DFND 3 248,000 0 0
PRUDENTIAL SHT DURATION HG Y COM 74442F107 546 35,500 SH   DFND 1 35,500 0 0
QUINPARIO ACQUISITION CORP 2 *W EXP 01/01/202 74874U119 318 635,566 SH   DFND 2 635,566 0 0
QUINPARIO ACQUISITION CORP 2 COM 74874U101 7,304 732,580 SH   DFND 2 732,580 0 0
RAYTHEON CO COM NEW 755111507 534 3,500 SH   DFND 1 3,500 0 0
REYNOLDS AMERICAN INC COM 761713106 6,950 110,285 SH   DFND 1 110,285 0 0
RITE AID CORP COM 767754104 3,024 7,114 SH Call DFND 2 7,114 0 0
RITE AID CORP COM 767754104 4,445 10,457 SH Put DFND 2 10,457 0 0
RITE AID CORP COM 767754104 4,568 1,074,900 SH Call DFND 1 1,074,900 0 0
RITE AID CORP COM 767754104 482 113,300 SH   DFND 2 113,300 0 0
SCHWAB CHARLES CORP NEW COM 808513105 673 16,500 SH   DFND 1 16,500 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 12,450 228,100 SH Put DFND 3 228,100 0 0
SIBANYE GOLD LTD SPONSORED ADR 825724206 1,357 154,000 SH Call DFND 1 154,000 0 0
SINA CORP ORD G81477104 1,803 25,000 SH   DFND 1 25,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,187 10,000 SH Put DFND 1 10,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 915 7,710 SH   DFND 1 7,710 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 3,677 156 SH Call DFND 2 156 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 94 4 SH Put DFND 2 4 0 0
SPDR SER TR BLOOMBERG SRT TR 78468R408 1,574 56,290 SH   DFND 1 56,290 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 14,227 380,000 SH Call DFND 3 380,000 0 0
SPDR SERIES TRUST S&P RETAIL ETF 78464A714 211 5,000 SH   DFND 2 5,000 0 0
SPROUTS FMRS MKT INC COM 85208M102 335 145 SH Call DFND 2 145 0 0
STELLAR ACQUISITION III INC COM Y8172W107 676 66,449 SH   DFND 2 66,449 0 0
STEMLINE THERAPEUTICS INC COM 85858C107 657 76,900 SH   DFND 1 76,900 0 0
STERLING BANCORP DEL COM 85917A100 1,231 51,960 SH   DFND 1 51,960 0 0
STILLWATER MNG CO COM 86074Q102 3,335 193,100 SH Put DFND 1 193,100 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 553 20,511 SH   DFND 1 20,511 0 0
T MOBILE US INC COM 872590104 452 7,000 SH   DFND 1 7,000 0 0
TERADYNE INC COM 880770102 370 11,900 SH   DFND 2 11,900 0 0
TIME INC NEW COM 887228104 290 15,000 SH   DFND 2 15,000 0 0
TIME INC NEW COM 887228104 571 295 SH Put DFND 2 295 0 0
TIME WARNER INC COM NEW 887317303 143,876 1,472,479 SH   DFND 1 1,472,479 0 0
TIME WARNER INC COM NEW 887317303 1,925 19,700 SH   DFND 2 19,700 0 0
TIME WARNER INC COM NEW 887317303 17,822 182,400 SH Put DFND 1 182,400 0 0
TIME WARNER INC COM NEW 887317303 9,742 997 SH Put DFND 2 997 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 576 5,300 SH   DFND 1 5,300 0 0
TRIBUNE MEDIA CO CL A 896047503 1,211 32,500 SH   DFND 1 32,500 0 0
UNILEVER N V N Y SHS NEW 904784709 4,615 92,900 SH Put DFND 1 92,900 0 0
UNILEVER N V N Y SHS NEW 904784709 2,742 552 SH Put DFND 2 552 0 0
UNILEVER N V N Y SHS NEW 904784709 1,617 32,550 SH   DFND 2 32,550 0 0
UNILEVER PLC SPON ADR NEW 904767704 3,186 64,572 SH   DFND 1 64,572 0 0
VALSPAR CORP COM 920355104 555 5,000 SH   DFND 2 5,000 0 0
VALSPAR CORP COM 920355104 144 13 SH Put DFND 2 13 0 0
VANECK VECTORS ETF TR COAL ETF 92189F809 4,734 342,300 SH Call DFND 3 342,300 0 0
VANECK VECTORS ETF TR COAL ETF 92189F809 4,734 342,300 SH Put DFND 3 342,300 0 0
VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 34,212 429,200 SH Put DFND 1 429,200 0 0
VECTOR GROUP LTD COM 92240M108 936 45,000 SH   DFND 1 45,000 0 0
WALTER INVT MGMT CORP NOTE 4.500%11/0 93317WAA0 165 500,000 PRN   DFND 1 500,000 0 0
WEST CORP COM 952355204 8,783 359,672 SH   DFND 1 359,672 0 0
WESTERN REFNG INC COM 959319104 71,311 2,033,402 SH   DFND 1 2,033,402 0 0
WILLIAMS COS INC DEL COM 969457100 1,110 375 SH Call DFND 2 375 0 0
XILINX INC COM 983919101 1,098 18,975 SH   DFND 1 18,975 0 0
XILINX INC COM 983919101 1,447 250 SH Call DFND 2 250 0 0
YAHOO INC COM 984332106 52,098 1,122,562 SH   DFND 1 1,122,562 0 0
ZELTIQ AESTHETICS INC COM 98933Q108 2,308 415 SH Call DFND 2 415 0 0