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: 09-30-2014
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, 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 11-14-2014
[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: 314
Form 13F Information Table Value Total: 970,003
(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 227 90,000 SH   DFND 1 90,000 0 0
ABBVIE INC COM 00287Y109 289 5,000 SH   DFND 1 5,000 0 0
ABBVIE INC COM 00287Y109 1,444 25,000 SH Put DFND 1 25,000 0 0
ACACIA RESH CORP ACACIA TCH COM 003881307 273 17,660 SH   DFND 1 17,660 0 0
ACI WORLDWIDE INC COM 004498101 4,464 237,929 SH   DFND 2 237,929 0 0
ACTAVIS PLC SHS G0083B108 4,222 17,500 SH   DFND 1 17,500 0 0
ADOBE SYS INC COM 00724F101 4,584 66,246 SH   DFND 2 66,246 0 0
ADVANCED MICRO DEVICES INC COM 007903107 85 25,000 SH   DFND 3 25,000 0 0
AECOM TECHNOLOGY CORP DELAWA COM 00766T100 3,389 100,400 SH Call DFND 1 100,400 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 1,107 19,431 SH   DFND 1 19,431 0 0
AIR PRODS & CHEMS INC COM 009158106 4,734 36,365 SH   DFND 2 36,365 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 4,728 79,058 SH   DFND 2 79,058 0 0
ALERE INC COM 01449J105 671 17,300 SH   DFND 1 17,300 0 0
ALKERMES PLC SHS G01767105 300 7,000 SH   DFND 1 7,000 0 0
ALLERGAN INC COM 018490102 11,494 64,505 SH   DFND 1 64,505 0 0
ALLERGAN INC COM 018490102 8,910 50,000 SH Put DFND 1 50,000 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 4,205 32,946 SH   DFND 1 32,946 0 0
ALLISON TRANSMISSION HLDGS I COM 01973R101 894 31,394 SH   DFND 1 31,394 0 0
AMAZON COM INC COM 023135106 1,119 3,470 SH   DFND 1 3,470 0 0
AMERICAN RAILCAR INDS INC COM 02916P103 839 11,350 SH   DFND 1 11,350 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 4,201 348,315 SH   DFND 2 348,315 0 0
AMGEN INC COM 031162100 773 5,500 SH   DFND 1 5,500 0 0
ANN INC COM 035623107 553 13,448 SH   DFND 1 13,448 0 0
APPLE INC COM 037833100 2,195 21,787 SH   DFND 1 21,787 0 0
APPLIED MATLS INC COM 038222105 270 12,500 SH   DFND 3 12,500 0 0
APPLIED MATLS INC COM 038222105 11,108 514,000 SH Call DFND 1 514,000 0 0
ARCH CAP GROUP LTD ORD G0450A105 405 7,400 SH   DFND 1 7,400 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 714 10,000 SH Put DFND 3 10,000 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 607 8,500 SH   DFND 3 8,500 0 0
AT&T INC COM 00206R102 177 5,100 SH Call DFND 3 5,100 0 0
AT&T INC COM 00206R102 10,572 300,000 SH Put DFND 1 300,000 0 0
AVALANCHE BIOTECHNOLOGIES IN COM 05337G107 8,502 248,674 SH   DFND 1 248,674 0 0
AVANIR PHARMACEUTICALS INC CL A NEW 05348P401 2,816 236,300 SH Call DFND 3 236,300 0 0
AVANIR PHARMACEUTICALS INC CL A NEW 05348P401 775 65,000 SH Put DFND 3 65,000 0 0
B/E AEROSPACE INC COM 073302101 3,165 37,700 SH   DFND 1 37,700 0 0
B/E AEROSPACE INC COM 073302101 4,524 53,900 SH Call DFND 3 53,900 0 0
B/E AEROSPACE INC COM 073302101 2,174 25,900 SH Put DFND 3 25,900 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 4,469 161,398 SH   DFND 2 161,398 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 1,537 55,500 SH   DFND 1 55,500 0 0
BAKER HUGHES INC COM 057224107 4,261 65,488 SH   DFND 2 65,488 0 0
BANK NEW YORK MELLON CORP COM 064058100 4,637 119,723 SH   DFND 2 119,723 0 0
BARNES & NOBLE INC COM 067774109 910 46,100 SH Put DFND 3 46,100 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 207 1 SH   DFND 1 1 0 0
BIOGEN IDEC INC COM 09062X103 414 1,250 SH   DFND 1 1,250 0 0
BLUEBIRD BIO INC COM 09609G100 3,316 92,408 SH   DFND 1 92,408 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 320 17,100 SH   DFND 1 17,100 0 0
BOB EVANS FARMS INC COM 096761101 2,021 42,686 SH   DFND 1 42,686 0 0
BRINKER INTL INC COM 109641100 406 8,000 SH   DFND 1 8,000 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 1,135 14,250 SH   DFND 1 14,250 0 0
BURGER KING WORLDWIDE INC COM 121220107 3,040 102,500 SH Call DFND 1 102,500 0 0
BURGER KING WORLDWIDE INC COM 121220107 4,320 145,665 SH   DFND 2 145,665 0 0
CAMERON INTERNATIONAL CORP COM 13342B105 4,243 63,917 SH   DFND 2 63,917 0 0
CANADIAN PAC RY LTD COM 13645T100 5,118 24,669 SH   DFND 2 24,669 0 0
CAPITAL ONE FINL CORP COM 14040H105 408 5,000 SH   DFND 1 5,000 0 0
CARRIZO OIL & GAS INC COM 144577103 2,153 40,000 SH Call DFND 3 40,000 0 0
CATALYST PHARM PARTNERS INC COM 14888U101 255 106,250 SH   DFND 3 106,250 0 0
CBRE GROUP INC CL A 12504L109 4,460 149,965 SH   DFND 2 149,965 0 0
CBS CORP NEW CL B 124857202 375 7,000 SH   DFND 1 7,000 0 0
CBS CORP NEW CL B 124857202 803 15,000 SH Call DFND 1 15,000 0 0
CBS OUTDOOR AMERS INC COM 14987J106 2,360 78,825 SH   DFND 1 78,825 0 0
CHENIERE ENERGY INC COM NEW 16411R208 400 5,000 SH   DFND 1 5,000 0 0
CHICOS FAS INC COM 168615102 2,679 181,400 SH Call DFND 1 181,400 0 0
CHIPMOS TECH BERMUDA LTD SHS G2110R114 475 21,000 SH   DFND 1 21,000 0 0
CHIPMOS TECH BERMUDA LTD SHS G2110R114 986 43,598 SH   DFND 3 43,598 0 0
CIENA CORP COM NEW 171779309 418 25,000 SH   DFND 3 25,000 0 0
CITRIX SYS INC COM 177376100 642 9,000 SH   DFND 1 9,000 0 0
CIVEO CORP COM 178787107 325 28,026 SH   DFND 1 28,026 0 0
COLFAX CORP COM 194014106 342 6,000 SH   DFND 1 6,000 0 0
COMCAST CORP NEW CL A 20030N101 12,122 225,400 SH Call DFND 1 225,400 0 0
COMPUWARE CORP COM 205638109 358 33,707 SH   DFND 3 33,707 0 0
COMPUWARE CORP COM 205638109 1,172 110,420 SH   DFND 1 110,420 0 0
CONCUR TECHNOLOGIES INC COM 206708109 21,327 168,167 SH   DFND 1 168,167 0 0
CONCUR TECHNOLOGIES INC COM 206708109 317 2,500 SH   DFND 3 2,500 0 0
CONSTANT CONTACT INC COM 210313102 475 17,500 SH   DFND 1 17,500 0 0
COPA HOLDINGS SA CL A P31076105 322 3,000 SH   DFND 1 3,000 0 0
CORNERSTONE ONDEMAND INC COM 21925Y103 275 8,000 SH   DFND 3 8,000 0 0
CORNERSTONE ONDEMAND INC COM 21925Y103 344 10,000 SH Put DFND 3 10,000 0 0
COVIDIEN PLC SHS G2554F113 2,146 24,806 SH   DFND 1 24,806 0 0
COVIDIEN PLC SHS G2554F113 87 1,000 SH   DFND 3 1,000 0 0
COWEN GROUP INC NEW CL A 223622101 14,211 3,789,624 SH   DFND 1 3,789,624 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344109 327 30,934 SH   DFND 1 30,934 0 0
CRESTWOOD MIDSTREAM PARTNERS UNIT LTD PARTNER 226378107 898 39,624 SH   DFND 1 39,624 0 0
CUBIST PHARMACEUTICALS INC COM 229678107 406 6,125 SH   DFND 1 6,125 0 0
DELCATH SYS INC COM NEW 24661P401 149 75,000 SH   DFND 1 75,000 0 0
DEX MEDIA INC NEW COM 25213A107 98 10,200 SH   DFND 1 10,200 0 0
DIRECTV COM 25490A309 130 1,500 SH   DFND 3 1,500 0 0
DIRECTV COM 25490A309 130 1,500 SH Put DFND 3 1,500 0 0
DIRECTV COM 25490A309 51,776 598,433 SH   DFND 1 598,433 0 0
DOMINION RES INC VA NEW COM 25746U109 518 7,500 SH   DFND 1 7,500 0 0
DRESSER-RAND GROUP INC COM 261608103 579 7,033 SH   DFND 1 7,033 0 0
DRESSER-RAND GROUP INC COM 261608103 206 2,500 SH   DFND 3 2,500 0 0
DYNAVAX TECHNOLOGIES CORP COM 268158102 43 30,000 SH   DFND 1 30,000 0 0
EATON VANCE TAX MNGD GBL DV COM 27829F108 105 10,500 SH   DFND 1 10,500 0 0
EL PASO PIPELINE PARTNERS L COM UNIT LPI 283702108 7,736 192,636 SH   DFND 1 192,636 0 0
ENCANA CORP COM 292505104 944 44,500 SH   DFND 3 44,500 0 0
ENCANA CORP COM 292505104 1,165 54,900 SH Put DFND 3 54,900 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 3,279 53,150 SH   DFND 1 53,150 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 976 15,250 SH   DFND 1 15,250 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 1,723 42,750 SH   DFND 1 42,750 0 0
EOG RES INC COM 26875P101 495 5,000 SH   DFND 1 5,000 0 0
EQT CORP COM 26884L109 403 4,400 SH   DFND 1 4,400 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 872 33,905 SH   DFND 1 33,905 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 353 5,000 SH   DFND 3 5,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 1,003 14,200 SH Put DFND 3 14,200 0 0
EXXON MOBIL CORP COM 30231G102 270 2,871 SH   DFND 1 2,871 0 0
F M C CORP COM NEW 302491303 383 6,700 SH   DFND 1 6,700 0 0
FACEBOOK INC CL A 30303M102 725 9,175 SH   DFND 1 9,175 0 0
FAMILY DLR STORES INC COM 307000109 17,928 232,111 SH   DFND 1 232,111 0 0
FEDERAL SIGNAL CORP COM 313855108 142 10,708 SH   DFND 1 10,708 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 4,619 166,506 SH   DFND 2 166,506 0 0
FOREST OIL CORP COM PAR $0.01 346091705 347 296,400 SH Put DFND 1 296,400 0 0
FOSTER WHEELER AG COM H27178104 48,584 1,536,504 SH   DFND 1 1,536,504 0 0
GALENA BIOPHARMA INC COM 363256108 35 17,200 SH   DFND 1 17,200 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 474 9,000 SH   DFND 1 9,000 0 0
GENTIVA HEALTH SERVICES INC COM 37247A102 1,049 62,500 SH Put DFND 1 62,500 0 0
GENUINE PARTS CO COM 372460105 342 3,900 SH   DFND 1 3,900 0 0
GERON CORP COM 374163103 39 19,400 SH   DFND 1 19,400 0 0
GEVO INC COM 374396109 19 54,500 SH   DFND 1 54,500 0 0
GILEAD SCIENCES INC COM 375558103 4,294 40,340 SH   DFND 1 40,340 0 0
GILEAD SCIENCES INC COM 375558103 532 5,000 SH Call DFND 3 5,000 0 0
GLU MOBILE INC COM 379890106 1,037 200,609 SH   DFND 3 200,609 0 0
GNC HLDGS INC COM CL A 36191G107 3,001 77,456 SH   DFND 1 77,456 0 0
GOODRICH PETE CORP COM NEW 382410405 148 10,000 SH   DFND 1 10,000 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 3,971 175,823 SH   DFND 2 175,823 0 0
GOOGLE INC CL A 38259P508 1,383 2,350 SH   DFND 1 2,350 0 0
GOOGLE INC CL C 38259P706 1,039 1,800 SH   DFND 1 1,800 0 0
GRAY TELEVISION INC COM 389375106 80 10,200 SH   DFND 1 10,200 0 0
GREENBRIER COS INC COM 393657101 264 3,600 SH   DFND 1 3,600 0 0
HALLIBURTON CO COM 406216101 355 5,500 SH   DFND 1 5,500 0 0
HARMAN INTL INDS INC COM 413086109 3,938 40,170 SH   DFND 2 40,170 0 0
HEADWATERS INC COM 42210P102 147 11,700 SH   DFND 1 11,700 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 730 28,752 SH   DFND 1 28,752 0 0
HEWLETT PACKARD CO COM 428236103 4,625 130,393 SH   DFND 2 130,393 0 0
HOLOGIC INC COM 436440101 4,595 188,861 SH   DFND 2 188,861 0 0
HORIZON PHARMA PLC SHS G4617B105 4,307 350,766 SH   DFND 1 350,766 0 0
HORIZON PHARMA PLC SHS G4617B105 36 2,900 SH   DFND 3 2,900 0 0
HOUSTON AMERN ENERGY CORP COM 44183U100 12 38,000 SH   DFND 1 38,000 0 0
HUDSON CITY BANCORP COM 443683107 204 21,020 SH   DFND 3 21,020 0 0
IAC INTERACTIVECORP COM PAR $.001 44919P508 2,038 30,926 SH   DFND 1 30,926 0 0
ILLUMINA INC COM 452327109 246 1,500 SH   DFND 1 1,500 0 0
INGERSOLL-RAND PLC SHS G47791101 4,362 77,391 SH   DFND 2 77,391 0 0
INTELIQUENT INC COM 45825N107 142 11,400 SH   DFND 1 11,400 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 854 4,500 SH   DFND 1 4,500 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 1,616 95,777 SH   DFND 1 95,777 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 127 7,500 SH   DFND 3 7,500 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 392 10,000 SH   DFND 3 10,000 0 0
INVESTORS BANCORP INC NEW COM 46146L101 4,478 442,032 SH   DFND 2 442,032 0 0
ISHARES MSCI CDA ETF 464286509 307 10,000 SH   DFND 1 10,000 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 1,943 7,100 SH Put DFND 3 7,100 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 465 1,700 SH Call DFND 3 1,700 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 2,154 19,700 SH   DFND 1 19,700 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 19,290 176,400 SH Put DFND 1 176,400 0 0
JAZZ PHARMACEUTICALS PLC SHS USD G50871105 490 3,050 SH   DFND 1 3,050 0 0
JETBLUE AIRWAYS CORP COM 477143101 496 46,700 SH Call DFND 3 46,700 0 0
KINDER MORGAN ENERGY PARTNER UT LTD PARTNER 494550106 41,000 439,534 SH   DFND 1 439,534 0 0
KINDER MORGAN INC DEL COM 49456B101 5,000 130,400 SH Call DFND 1 130,400 0 0
KINDER MORGAN INC DEL COM 49456B101 1,537 40,100 SH Call DFND 3 40,100 0 0
KODIAK OIL & GAS CORP COM 50015Q100 136 10,000 SH   DFND 3 10,000 0 0
KRAFT FOODS GROUP INC COM 50076Q106 874 15,500 SH   DFND 3 15,500 0 0
KRAFT FOODS GROUP INC COM 50076Q106 1,117 20,000 SH Call DFND 3 20,000 0 0
KRAFT FOODS GROUP INC COM 50076Q106 1,676 30,000 SH Put DFND 3 30,000 0 0
LAMAR ADVERTISING CO CL A 512815101 1,903 38,635 SH   DFND 1 38,635 0 0
LEGG MASON INC COM 524901105 4,873 95,255 SH   DFND 2 95,255 0 0
LIFE TIME FITNESS INC COM 53217R207 1,687 33,442 SH   DFND 1 33,442 0 0
LILLY ELI & CO COM 532457108 811 12,500 SH Put DFND 3 12,500 0 0
LILLY ELI & CO COM 532457108 259 4,000 SH   DFND 3 4,000 0 0
LIN MEDIA LLC CL A COM 532771102 2,752 123,943 SH   DFND 1 123,943 0 0
LORAL SPACE & COMMUNICATNS I COM 543881106 2,161 30,100 SH Put DFND 3 30,100 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 4,554 68,275 SH   DFND 2 68,275 0 0
MAGELLAN HEALTH INC COM NEW 559079207 164 3,000 SH   DFND 3 3,000 0 0
MAGELLAN HEALTH INC COM NEW 559079207 367 6,700 SH Put DFND 3 6,700 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2,553 30,326 SH   DFND 1 30,326 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 1,002 11,115 SH   DFND 1 11,115 0 0
MANITOWOC INC COM 563571108 2,112 90,043 SH   DFND 1 90,043 0 0
MATTSON TECHNOLOGY INC COM 577223100 272 110,000 SH   DFND 1 110,000 0 0
MCEWEN MNG INC COM 58039P107 63 32,300 SH   DFND 1 32,300 0 0
MCKESSON CORP COM 58155Q103 292 1,500 SH   DFND 1 1,500 0 0
MEDASSETS INC COM 584045108 4,286 206,846 SH   DFND 2 206,846 0 0
METHANEX CORP COM 59151K108 200 3,000 SH   DFND 1 3,000 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 357 5,000 SH   DFND 1 5,000 0 0
MICROSOFT CORP COM 594918104 232 5,000 SH   DFND 1 5,000 0 0
MICROSOFT CORP COM 594918104 4,983 107,479 SH   DFND 2 107,479 0 0
MONDELEZ INTL INC CL A 609207105 4,462 130,225 SH   DFND 2 130,225 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 202 20,000 SH   DFND 1 20,000 0 0
MONSANTO CO NEW COM 61166W101 4,528 40,242 SH   DFND 2 40,242 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 4,965 78,467 SH   DFND 2 78,467 0 0
MOVE INC COM NEW 62458M207 210 10,000 SH   DFND 3 10,000 0 0
MUELLER WTR PRODS INC COM SER A 624758108 89 10,700 SH   DFND 1 10,700 0 0
NABORS INDUSTRIES LTD SHS G6359F103 1,344 59,072 SH   DFND 1 59,072 0 0
NATIONAL OILWELL VARCO INC COM 637071101 609 8,000 SH   DFND 1 8,000 0 0
NCR CORP NEW COM 62886E108 4,625 138,436 SH   DFND 2 138,436 0 0
NORTHWEST PIPE CO COM 667746101 335 9,820 SH   DFND 1 9,820 0 0
NRG ENERGY INC COM NEW 629377508 259 8,500 SH   DFND 3 8,500 0 0
NRG ENERGY INC COM NEW 629377508 838 27,500 SH Call DFND 3 27,500 0 0
NRG ENERGY INC COM NEW 629377508 70 2,300 SH Put DFND 3 2,300 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 2,179 141,355 SH   DFND 1 141,355 0 0
OILTANKING PARTNERS L P UNIT LTD 678049107 818 16,500 SH   DFND 1 16,500 0 0
ON ASSIGNMENT INC COM 682159108 244 9,100 SH   DFND 1 9,100 0 0
ONCOMED PHARMACEUTICALS INC COM 68234X102 189 10,000 SH Call DFND 3 10,000 0 0
ONCOTHYREON INC COM 682324108 192 100,000 SH   DFND 1 100,000 0 0
ONCOTHYREON INC COM 682324108 2 1,000 SH   DFND 3 1,000 0 0
ONEOK INC NEW COM 682680103 597 9,110 SH   DFND 1 9,110 0 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 941 16,815 SH   DFND 1 16,815 0 0
OUTERWALL INC COM 690070107 561 10,000 SH Put DFND 3 10,000 0 0
OUTERWALL INC COM 690070107 505 9,000 SH   DFND 3 9,000 0 0
OWENS ILL INC COM NEW 690768403 3,954 151,785 SH   DFND 2 151,785 0 0
PACIFIC BIOSCIENCES CALIF IN COM 69404D108 74 15,000 SH   DFND 1 15,000 0 0
PACIFIC DRILLING SA LUXEMBOU REG SHS L7257P106 632 76,475 SH   DFND 3 76,475 0 0
PARKERVISION INC COM 701354102 34 30,000 SH   DFND 1 30,000 0 0
PDC ENERGY INC COM 69327R101 332 6,600 SH   DFND 1 6,600 0 0
PENN VA CORP COM 707882106 1,691 133,040 SH   DFND 1 133,040 0 0
PEPSICO INC COM 713448108 4,647 49,923 SH   DFND 2 49,923 0 0
PEREGRINE SEMICONDUCTOR CORP COM 71366R703 238 19,228 SH   DFND 3 19,228 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 901 13,500 SH   DFND 1 13,500 0 0
PINNACLE ENTMT INC COM 723456109 741 29,514 SH   DFND 1 29,514 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 1,211 20,570 SH   DFND 1 20,570 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 1,027 33,500 SH   DFND 1 33,500 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 4,528 180,983 SH   DFND 2 180,983 0 0
PRECISION CASTPARTS CORP COM 740189105 782 3,300 SH   DFND 1 3,300 0 0
PROSHARES TR PSHS ULSHT SP500 74347B300 555 22,500 SH   DFND 1 22,500 0 0
PROSHARES TR II ULTRASHORT YEN N 74347W569 455 6,000 SH   DFND 1 6,000 0 0
PROSHARES TR II ULTRASHRT EURO 74347W882 679 34,000 SH   DFND 1 34,000 0 0
PTC INC COM 69370C100 4,472 121,196 SH   DFND 2 121,196 0 0
QEP RES INC COM 74733V100 1,695 55,070 SH   DFND 1 55,070 0 0
QLIK TECHNOLOGIES INC COM 74733T105 379 14,000 SH   DFND 3 14,000 0 0
QLIK TECHNOLOGIES INC COM 74733T105 595 22,000 SH Put DFND 3 22,000 0 0
QR ENERGY LP UNIT LTD PRTNS 74734R108 2,222 114,440 SH   DFND 1 114,440 0 0
RACKSPACE HOSTING INC COM 750086100 4,543 139,584 SH   DFND 2 139,584 0 0
RACKSPACE HOSTING INC COM 750086100 16 500 SH   DFND 3 500 0 0
RARE ELEMENT RES LTD COM 75381M102 12 18,500 SH   DFND 1 18,500 0 0
REGENCY ENERGY PARTNERS L P COM UNITS L P 75885Y107 1,396 42,800 SH   DFND 1 42,800 0 0
RENESOLA LTD SPONS ADS 75971T103 44 14,700 SH   DFND 1 14,700 0 0
REPLIGEN CORP COM 759916109 60 3,000 SH   DFND 3 3,000 0 0
REPLIGEN CORP COM 759916109 199 10,000 SH Put DFND 3 10,000 0 0
REPROS THERAPEUTICS INC COM NEW 76028H209 284 28,700 SH Call DFND 3 28,700 0 0
RESTORATION HARDWARE HLDGS I COM 761283100 3,978 50,000 SH Put DFND 3 50,000 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 359 185,000 SH   DFND 3 185,000 0 0
RITE AID CORP COM 767754104 121 25,000 SH   DFND 3 25,000 0 0
RITE AID CORP COM 767754104 121 25,000 SH Put DFND 3 25,000 0 0
RLJ ENTMT INC COM 74965F104 52 13,503 SH   DFND 1 13,503 0 0
ROCKWOOD HLDGS INC COM 774415103 17,341 226,825 SH   DFND 1 226,825 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 4,049 159,979 SH   DFND 2 159,979 0 0
RUBICON TECHNOLOGY INC COM 78112T107 54 12,700 SH   DFND 1 12,700 0 0
SAFEWAY INC COM NEW 786514208 5,486 159,954 SH   DFND 1 159,954 0 0
SALIX PHARMACEUTICALS INC COM 795435106 13,417 85,874 SH   DFND 1 85,874 0 0
SANCHEZ ENERGY CORP COM 79970Y105 3,830 145,857 SH   DFND 1 145,857 0 0
SANGAMO BIOSCIENCES INC COM 800677106 121 11,200 SH   DFND 1 11,200 0 0
SCHLUMBERGER LTD COM 806857108 203 2,000 SH   DFND 1 2,000 0 0
SCHWAB CHARLES CORP NEW COM 808513105 1,248 42,450 SH   DFND 1 42,450 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 3,075 285,550 SH   DFND 1 285,550 0 0
SEATTLE GENETICS INC COM 812578102 242 6,500 SH   DFND 1 6,500 0 0
SEQUENOM INC COM NEW 817337405 46 15,600 SH   DFND 1 15,600 0 0
SHIRE PLC SPONSORED ADR 82481R106 6,035 23,295 SH   DFND 1 23,295 0 0
SIGA TECHNOLOGIES INC COM 826917106 420 290,665 SH   DFND 1 290,665 0 0
SIGMA ALDRICH CORP COM 826552101 2,639 19,406 SH   DFND 1 19,406 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 303 2,700 SH   DFND 1 2,700 0 0
SIGNET JEWELERS LIMITED SHS G81276100 4,714 41,382 SH   DFND 2 41,382 0 0
SLM CORP COM 78442P106 4,386 512,400 SH Call DFND 3 512,400 0 0
SMITH A O COM 831865209 322 6,800 SH   DFND 1 6,800 0 0
SOTHEBYS COM 835898107 4,098 114,733 SH   DFND 2 114,733 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 296 1,500 SH   DFND 3 1,500 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 64,308 326,400 SH Put DFND 1 326,400 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,478 7,500 SH Put DFND 3 7,500 0 0
SPRINT CORP COM SER 1 85207U105 951 150,000 SH   DFND 1 150,000 0 0
SPRINT CORP COM SER 1 85207U105 4,102 647,000 SH Put DFND 1 647,000 0 0
SPX CORP COM 784635104 4,254 45,294 SH   DFND 2 45,294 0 0
STERLING BANCORP DEL COM 85917A100 665 51,960 SH   DFND 1 51,960 0 0
STILLWATER MNG CO COM 86074Q102 439 29,200 SH Call DFND 3 29,200 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 570 12,797 SH   DFND 1 12,797 0 0
SUNEDISON INC COM 86732Y109 1,718 91,000 SH   DFND 3 91,000 0 0
SUNEDISON INC COM 86732Y109 283 15,000 SH Call DFND 3 15,000 0 0
SUNEDISON INC COM 86732Y109 1,962 103,900 SH Put DFND 3 103,900 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 1,772 36,728 SH   DFND 1 36,728 0 0
SYNERGY PHARMACEUTICALS DEL COM NEW 871639308 501 180,000 SH   DFND 1 180,000 0 0
SYSCO CORP COM 871829107 3,950 104,100 SH Put DFND 1 104,100 0 0
TEAM HEALTH HOLDINGS INC COM 87817A107 43 750 SH   DFND 3 750 0 0
TEAM HEALTH HOLDINGS INC COM 87817A107 290 5,000 SH Put DFND 3 5,000 0 0
TESARO INC COM 881569107 810 30,100 SH Call DFND 3 30,100 0 0
TESLA MTRS INC COM 88160R101 204 840 SH   DFND 1 840 0 0
TESORO CORP COM 881609101 305 5,000 SH   DFND 1 5,000 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,276 23,745 SH   DFND 1 23,745 0 0
TIBCO SOFTWARE INC COM 88632Q103 548 23,200 SH   DFND 3 23,200 0 0
TIM HORTONS INC COM 88706M103 32,964 418,271 SH   DFND 1 418,271 0 0
TIME WARNER CABLE INC COM 88732J207 82,472 574,756 SH   DFND 1 574,756 0 0
TIVO INC COM 888706108 355 27,700 SH Put DFND 3 27,700 0 0
TIVO INC COM 888706108 921 72,000 SH   DFND 3 72,000 0 0
TIVO INC COM 888706108 2,008 156,900 SH Call DFND 3 156,900 0 0
T-MOBILE US INC COM 872590104 8,115 281,102 SH   DFND 1 281,102 0 0
T-MOBILE US INC COM 872590104 3,560 123,300 SH Call DFND 1 123,300 0 0
TRIANGLE PETE CORP COM NEW 89600B201 1,743 158,309 SH   DFND 1 158,309 0 0
TRIUMPH GROUP INC NEW COM 896818101 4,447 68,361 SH   DFND 2 68,361 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 15,384 151,936 SH   DFND 1 151,936 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 4,151 41,000 SH Put DFND 3 41,000 0 0
TW TELECOM INC COM 87311L104 998 23,984 SH   DFND 1 23,984 0 0
TW TELECOM INC COM 87311L104 74 1,767 SH   DFND 3 1,767 0 0
TW TELECOM INC COM 87311L104 4,942 118,781 SH   DFND 2 118,781 0 0
ULTRAGENYX PHARMACEUTICAL IN COM 90400D108 8,430 148,932 SH   DFND 1 148,932 0 0
UNION PAC CORP COM 907818108 379 3,500 SH   DFND 1 3,500 0 0
UNITED STATES STL CORP NEW COM 912909108 274 7,000 SH   DFND 1 7,000 0 0
UTI WORLDWIDE INC ORD G87210103 5,445 512,204 SH   DFND 2 512,204 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 5,295 40,361 SH   DFND 2 40,361 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 3,280 25,000 SH Put DFND 1 25,000 0 0
VANDA PHARMACEUTICALS INC COM 921659108 155 14,900 SH   DFND 1 14,900 0 0
VIPER ENERGY PARTNERS LP COM UNT RP INT 92763M105 1,394 60,000 SH   DFND 1 60,000 0 0
VIRNETX HLDG CORP COM 92823T108 851 141,888 SH   DFND 1 141,888 0 0
VITAMIN SHOPPE INC COM 92849E101 1,110 25,000 SH   DFND 1 25,000 0 0
WABCO HLDGS INC COM 92927K102 337 3,700 SH   DFND 1 3,700 0 0
WALGREEN CO COM 931422109 2,944 49,675 SH   DFND 1 49,675 0 0
WAL-MART STORES INC COM 931142103 308 4,025 SH   DFND 1 4,025 0 0
WILLIAMS COS INC DEL COM 969457100 692 12,500 SH   DFND 1 12,500 0 0
WILLIAMS COS INC DEL COM 969457100 4,752 85,852 SH   DFND 2 85,852 0 0
WILLIAMS PARTNERS L P COM UNIT L P 96950F104 3,672 69,212 SH   DFND 1 69,212 0 0
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 700 20,000 SH Put DFND 3 20,000 0 0
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 613 17,500 SH   DFND 3 17,500 0 0