SEC Filing | Cowen Inc

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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:	Oct 31, 2018
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 York, NY	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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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