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

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: March 31, 2010

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:    GLG Partners, Inc.
Address: 390 Park Avenue, 20th Floor
         New York, NY  10022

13F File Number:  028-13068

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:      Alejandro San Miguel
Title:     General Counsel and Corporate Secretary
Phone:     212-224-7200

Signature, Place, and Date of Signing:

  /s/ Alejandro San Miguel     New York, NY     May 12, 2010

CERTAIN SECTION 13(F) SECURITIES HAVE BEEN OMITTED FROM THIS REPORT BECAUSE
THOSE SECURITIES ARE PART OF THE LEHMAN BANKRUPTCY AND THEREFORE THE
INSTITUTIONAL INVESTMENT MANAGER FILING THIS FORM 13F (GLG) DOES NOT HAVE
INVESTMENT DISCRETION OVER THOSE SECURITIES.

Report Type (Check only one.):

[ X]         13F HOLDINGS REPORT.

[  ]         13F NOTICE.

[  ]         13F COMBINATION REPORT.



                              FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:         2

Form 13F Information Table Entry Total:    571

Form 13F Information Table Value Total:    $4,591,338 (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.

No.  13F File Number               Name

01   028-10979                     GLG Partners LP
02   028-13070                     GLG Inc.



                                    
                                                     FORM 13F INFORMATION TABLE
                                                             VALUE  SHARES/ SH/ PUT/ INVSTMT  OTHER            VOTING AUTHORITY
NAME OF ISSUER                 TITLE OF CLASS   CUSIP     (x$1000)  PRN AMT PRN CALL DSCRETN MANAGERS         SOLE   SHARED     NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
3M CO                          COM              88579Y101     8166    97718 SH       DEFINED 01              97718        0        0
ABBOTT LABS                    COM              002824100    11156   211763 SH       DEFINED 01             211763        0        0
ACCENTURE PLC IRELAND          SHS CLASS A      G1151C101    13396   319327 SH       DEFINED 01             319327        0        0
ACE LTD                        SHS              H0023R105     2734    52284 SH       DEFINED 01              52284        0        0
AERCAP HOLDINGS NV             SHS              N00985106     8544   741632 SH       DEFINED 01             741632        0        0
AES CORP                       COM              00130H105     8715   792301 SH       DEFINED 01             792301        0        0
AETNA INC NEW                  COM              00817Y108     4965   141423 SH       DEFINED 01             141423        0        0
AFFORDABLE RESIDENTIAL CMNTY   NOTE 7.500% 8/1  00828UAB9    17424 16190000 PRN      DEFINED 01           16190000        0        0
AFLAC INC                      COM              001055102     3025    55724 SH       DEFINED 01              55724        0        0
AGNICO EAGLE MINES LTD         COM              008474108     2895    52000 SH       DEFINED 01              52000        0        0
AIR PRODS & CHEMS INC          COM              009158106     1979    26760 SH       DEFINED 01              26760        0        0
AIRCASTLE LTD                  COM              G0129K104     2963   312889 SH       DEFINED 01             312889        0        0
AIRGAS INC                     COM              009363102    30983   487000 SH       DEFINED 01             487000        0        0
AK STL HLDG CORP               COM              001547108     1983    86751 SH       DEFINED 01              86751        0        0
AKAMAI TECHNOLOGIES INC        COM              00971T101     1014    32262 SH       DEFINED 01              32262        0        0
ALBEMARLE CORP                 COM              012653101     2512    58915 SH       DEFINED 01              58915        0        0
ALCOA INC                      COM              013817101     9968   700000 SH  PUT  DEFINED 01             700000        0        0
ALCOA INC                      COM              013817101     9968   700000 SH  CALL DEFINED 01             700000        0        0
ALCON INC                      COM SHS          H01301102    66144   409406 SH       DEFINED 01             409406        0        0
ALLEGHENY ENERGY INC           COM              017361106      660    28691 SH       DEFINED 01              28691        0        0
ALLERGAN INC                   COM              018490102     2810    43020 SH       DEFINED 01              43020        0        0
ALLERGAN INC                   COM              018490102     3397    52000 SH  CALL DEFINED 01              52000        0        0
ALLIANT ENERGY CORP            COM              018802108      538    16172 SH       DEFINED 01              16172        0        0
ALLIED IRISH BKS P L C         SPON ADR ORD     019228402      499   155000 SH       DEFINED 01             155000        0        0
ALLSTATE CORP                  COM              020002101     2578    79803 SH       DEFINED 01              79803        0        0
ALPHA NATURAL RESOURCES INC    COM              02076X102     1746    35000 SH       DEFINED 01              35000        0        0
ALTISOURCE PORTFOLIO SOLNS S   REG SHS          L0175J104      993    44324 SH       DEFINED 01              44324        0        0
AMAZON COM INC                 COM              023135106     9518    70127 SH       DEFINED 01              70127        0        0
AMEREN CORP                    COM              023608102      921    35310 SH       DEFINED 01              35310        0        0
AMERICA MOVIL SAB DE CV        SPON ADR L SHS   02364W105     7249   144000 SH       DEFINED 01             144000        0        0
AMERICAN CAP LTD               COM              02503Y103      435    85648 SH       DEFINED 01              85648        0        0
AMERICAN EXPRESS CO            COM              025816109     6890   166983 SH       DEFINED 01             166983        0        0
AMERICAN TOWER CORP            CL A             029912201     4410   103493 SH       DEFINED 01             103493        0        0
AMERICAN WTR WKS CO INC NEW    COM              030420103      950    43647 SH       DEFINED 01              43647        0        0
AMERICREDIT CORP               NOTE 2.125% 9/1  03060RAR2     4856  5000000 PRN      DEFINED 01            5000000        0        0
AMERIPRISE FINL INC            COM              03076C106     2747    60562 SH       DEFINED 01              60562        0        0
AMGEN INC                      COM              031162100    28335   474151 SH       DEFINED 01             474151        0        0
AMGEN INC                      NOTE 0.375% 2/0  031162AQ3    30506 30000000 PRN      DEFINED 01           30000000        0        0
AMR CORP                       NOTE 6.250%10/1  001765BC9    11400 10000000 PRN      DEFINED 01           10000000        0        0
ANADARKO PETE CORP             COM              032511107     5628    77278 SH       DEFINED 01              77278        0        0
ANCESTRY COM INC               COM              032803108     2809   165732 SH       DEFINED 01             165732        0        0
ANNALY CAP MGMT INC            NOTE 4.000% 2/1  035710AA0     5019  5000000 PRN      DEFINED 01            5000000        0        0
APACHE CORP                    COM              037411105     5410    53302 SH       DEFINED 01              53302        0        0
APPLE INC                      COM              037833100    38907   165610 SH       DEFINED 01             165610        0        0
APPLIED MATLS INC              COM              038222105     2796   207436 SH       DEFINED 01             207436        0        0
ARLINGTON ASSET INVT CORP      CL A NEW         041356205      557    31250 SH       DEFINED 01              31250        0        0
AT&T INC                       COM              00206R102     9498   367551 SH       DEFINED 01             367551        0        0
ATLAS ENERGY INC               COM              049298102     3393   109020 SH       DEFINED 01             109020        0        0
AU OPTRONICS CORP              SPONSORED ADR    002255107     4625   408185 SH       DEFINED 01             408185        0        0
AUTOLIV INC                    COM              052800109      208     4034 SH       DEFINED 01               4034        0        0
AUTOMATIC DATA PROCESSING IN   COM              053015103     3338    75052 SH       DEFINED 01              75052        0        0
AUTOZONE INC                   COM              053332102     2675    15454 SH       DEFINED 01              15454        0        0
AVON PRODS INC                 COM              054303102     1059    31270 SH       DEFINED 01              31270        0        0
BAIDU INC                      SPON ADR REP A   056752108      547      916 SH       DEFINED 01                916        0        0
BAKER HUGHES INC               COM              057224107     2208    47146 SH       DEFINED 01              47146        0        0
BANCO SANTANDER BRASIL S A     ADS REP 1 UNIT   05967A107     1740   140000 SH       DEFINED 01             140000        0        0
BANCO SANTANDER CHILE NEW      SP ADR REP COM   05965X109      969    14200 SH       DEFINED 01              14200        0        0
BANK OF AMERICA CORPORATION    COM              060505104    52777  2956716 SH       DEFINED 01            2956716        0        0
BANK OF NEW YORK MELLON CORP   COM              064058100     7570   245145 SH       DEFINED 01             245145        0        0
BAXTER INTL INC                COM              071813109     5115    87891 SH       DEFINED 01              87891        0        0
BECKMAN COULTER INC            COM              075811109     1074    17100 SH  CALL DEFINED 01              17100        0        0
BECTON DICKINSON & CO          COM              075887109     2952    37497 SH       DEFINED 01              37497        0        0
BED BATH & BEYOND INC          COM              075896100     7619   174109 SH       DEFINED 01             174109        0        0
BED BATH & BEYOND INC          COM              075896100     4376   100000 SH  CALL DEFINED 01             100000        0        0
BERKSHIRE HATHAWAY INC DEL     CL A             084670108     5481       45 SH       DEFINED 01                 45        0        0
BEST BUY INC                   COM              086516101    17562   412832 SH       DEFINED 01             412832        0        0
BIOGEN IDEC INC                COM              09062X103     2866    49971 SH       DEFINED 01              49971        0        0
BIOMARIN PHARMACEUTICAL INC    NOTE 1.875% 4/2  09061GAD3     7598  6000000 PRN      DEFINED 01            6000000        0        0
BIOMIMETIC THERAPEUTICS INC    COM              09064X101    18382  1397838 SH       DEFINED 01            1397838        0        0
BJ SVCS CO                     COM              055482103      843    39381 SH       DEFINED 01              39381        0        0
BLACKROCK CORPOR HI YLD FD V   COM              09255P107    16407  1490200 SH       DEFINED 01            1490200        0        0
BLACKROCK CREDIT ALL INC TR    COM              092508100    12860  1055000 SH       DEFINED 01            1055000        0        0
BLACKROCK FLOAT RATE OME STR   COM              09255X100     8050   520002 SH       DEFINED 01             520002        0        0
BLACKROCK GLOBAL OPP EQTY TR   COM              092501105    10491   535000 SH       DEFINED 01             535000        0        0
BLACKROCK MUNIHOLDINGS N Y I   COM              09255C106     8285   592600 SH       DEFINED 01             592600        0        0
BMB MUNAI INC                  COM              09656A105     3250 10000000 PRN      DEFINED 01           10000000        0        0
BMC SOFTWARE INC               COM              055921100      729    19194 SH       DEFINED 01              19194        0        0
BOEING CO                      COM              097023105     3692    50843 SH       DEFINED 01              50843        0        0
BOSTON PPTYS LTD PARTNERSHIP   NOTE 3.750% 5/1  10112RAG9    21275 20000000 PRN      DEFINED 01           20000000        0        0
BOSTON SCIENTIFIC CORP         COM              101137107     4388   607817 SH       DEFINED 01             607817        0        0
BRE PROPERTIES INC             NOTE 4.125% 8/1  05564EBH8     2005  2000000 PRN      DEFINED 01            2000000        0        0
BRISTOL MYERS SQUIBB CO        COM              110122108      967    36233 SH       DEFINED 01              36233        0        0
BROADCOM CORP                  CL A             111320107     2652    79914 SH       DEFINED 01              79914        0        0
BROCADE COMMUNICATIONS SYS I   COM NEW          111621306      857   150000 SH  CALL DEFINED 01             150000        0        0
BUCYRUS INTL INC NEW           COM              118759109     8579   130000 SH  PUT  DEFINED 01             130000        0        0
C H ROBINSON WORLDWIDE INC     COM NEW          12541W209     1456    26062 SH       DEFINED 01              26062        0        0
CA INC                         COM              12673P105     1832    78046 SH       DEFINED 01              78046        0        0
CABLEVISION SYS CORP           CL A NY CABLVS   12686C109     9630   398928 SH       DEFINED 01             398928        0        0
CABOT OIL & GAS CORP           COM              127097103     2218    60275 SH       DEFINED 01              60275        0        0
CALPINE CORP                   COM NEW          131347304      739    62127 SH       DEFINED 01              62127        0        0
CAMERON INTERNATIONAL CORP     COM              13342B105     1482    34574 SH       DEFINED 01              34574        0        0
CAMPBELL SOUP CO               COM              134429109     1150    32537 SH       DEFINED 01              32537        0        0
CAPITAL ONE FINL CORP          COM              14040H105     2594    62633 SH       DEFINED 01              62633        0        0
CAPITALSOURCE INC              COM              14055X102      776   138795 SH       DEFINED 01             138795        0        0
CARDINAL HEALTH INC            COM              14149Y108     4109   114045 SH       DEFINED 01             114045        0        0
CAREER EDUCATION CORP          COM              141665109    30492   963705 SH       DEFINED 01             963705        0        0
CAREER EDUCATION CORP          COM              141665109    25312   800000 SH  CALL DEFINED 01             800000        0        0
CATERPILLAR INC DEL            COM              149123101     5801    92297 SH       DEFINED 01              92297        0        0
CELGENE CORP                   COM              151020104     4395    70926 SH       DEFINED 01              70926        0        0
CEMEX SAB DE CV                SPON ADR NEW     151290889     1793   175607 SH       DEFINED 01             175607        0        0
CENTERPOINT ENERGY INC         COM              15189T107      886    61666 SH       DEFINED 01              61666        0        0
CENTRAL EUROPEAN DIST CORP     COM              153435102     3427    97883 SH       DEFINED 01              97883        0        0
CHENIERE ENERGY INC            NOTE 2.250% 8/0  16411RAE9    15939 25400000 PRN      DEFINED 01           25400000        0        0
CHESAPEAKE ENERGY CORP         COM              165167107     1962    83000 SH       DEFINED 01              83000        0        0
CHEVRON CORP NEW               COM              166764100     6103    80478 SH       DEFINED 01              80478        0        0
CHINA MED TECHNOLOGIES INC     NOTE 3.500%11/1  169483AB0    21692 27900000 PRN      DEFINED 01           27900000        0        0
CHINA MED TECHNOLOGIES INC     SPONSORED ADR    169483104     1388   101900 SH  PUT  DEFINED 01             101900        0        0
CHINA PETE & CHEM CORP         SPON ADR H SHS   16941R108     1612    19600 SH       DEFINED 01              19600        0        0
CHURCH & DWIGHT INC            COM              171340102      761    11369 SH       DEFINED 01              11369        0        0
CIMAREX ENERGY CO              COM              171798101      662    11153 SH       DEFINED 01              11153        0        0
CISCO SYS INC                  COM              17275R102    46157  1773234 SH       DEFINED 01            1773234        0        0
CIT GROUP INC                  COM NEW          125581801    10843   278305 SH       DEFINED 01             278305        0        0
CITIGROUP INC                  COM              172967101     8100  2000000 SH  PUT  DEFINED 01            2000000        0        0
CITIGROUP INC                  COM              172967101    12428  3068721 SH       DEFINED 01            3068721        0        0
CITIZENS REPUBLIC BANCORP IN   COM              174420109     4112  3606813 SH       DEFINED 01            3606813        0        0
CITRIX SYS INC                 COM              177376100     1286    27089 SH       DEFINED 01              27089        0        0
CLIFFS NATURAL RESOURCES INC   COM              18683K101     2700    38055 SH       DEFINED 01              38055        0        0
CLOROX CO DEL                  COM              189054109     9143   142546 SH       DEFINED 01             142546        0        0
CLOUD PEAK ENERGY INC          COM              18911Q102     4424   265881 SH       DEFINED 01             265881        0        0
CME GROUP INC                  COM              12572Q105     2735     8651 SH       DEFINED 01               8651        0        0
CMS ENERGY CORP                COM              125896100      747    48313 SH       DEFINED 01              48313        0        0
CNOOC LTD                      SPONSORED ADR    126132109      240     1456 SH       DEFINED 01               1456        0        0
CNX GAS CORP                   COM              12618H309     2074    54500 SH       DEFINED 01              54500        0        0
COCA COLA CO                   COM              191216100    36453   662776 SH       DEFINED 01             662776        0        0
COCA COLA ENTERPRISES INC      COM              191219104     2559    92525 SH       DEFINED 01              92525        0        0
COLGATE PALMOLIVE CO           COM              194162103     5093    59734 SH       DEFINED 01              59734        0        0
COMCAST CORP NEW               CL A             20030N101     6861   364563 SH       DEFINED 01             364563        0        0
COMERICA INC                   COM              200340107     3911   102805 SH       DEFINED 01             102805        0        0
COMPUCREDIT CORP               NOTE 5.875%11/3  20478NAD2     5743 11964000 PRN      DEFINED 01           11964000        0        0
COMPUTER SCIENCES CORP         COM              205363104     1338    24560 SH       DEFINED 01              24560        0        0
CONOCOPHILLIPS                 COM              20825C104     7346   143553 SH       DEFINED 01             143553        0        0
CONSOL ENERGY INC              COM              20854P109     5886   137969 SH       DEFINED 01             137969        0        0
CONSOLIDATED EDISON INC        COM              209115104     3803    85379 SH       DEFINED 01              85379        0        0
COOPER INDUSTRIES PLC          SHS              G24140108     1274    26566 SH       DEFINED 01              26566        0        0
CORNING INC                    COM              219350105    14787   731658 SH       DEFINED 01             731658        0        0
COSTCO WHSL CORP NEW           COM              22160K105     4036    67598 SH       DEFINED 01              67598        0        0
COVIDIEN PLC                   SHS              G2554F105     3864    76855 SH       DEFINED 01              76855        0        0
CROWN CASTLE INTL CORP         COM              228227104     3075    80425 SH       DEFINED 01              80425        0        0
CROWN HOLDINGS INC             COM              228368106     9252   343164 SH       DEFINED 01             343164        0        0
CSX CORP                       COM              126408103     3180    62474 SH       DEFINED 01              62474        0        0
CUMMINS INC                    COM              231021106     1887    30468 SH       DEFINED 01              30468        0        0
CVB FINL CORP                  COM              126600105     4889   492320 SH       DEFINED 01             492320        0        0
CVS CAREMARK CORPORATION       COM              126650100     7857   214902 SH       DEFINED 01             214902        0        0
D R HORTON INC                 COM              23331A109      669    53066 SH       DEFINED 01              53066        0        0
D R HORTON INC                 NOTE 2.000% 5/1  23331ABB4    21627 18445000 PRN      DEFINED 01           18445000        0        0
DANAHER CORP DEL               COM              235851102     3123    39084 SH       DEFINED 01              39084        0        0
DEERE & CO                     COM              244199105     5358    90115 SH       DEFINED 01              90115        0        0
DELL INC                       COM              24702R101     6312   420511 SH       DEFINED 01             420511        0        0
DENBURY RES INC                COM NEW          247916208     4130   244834 SH       DEFINED 01             244834        0        0
DENDREON CORP                  COM              24823Q107     8206   225000 SH  PUT  DEFINED 01             225000        0        0
DESARROLLADORA HOMEX S A DE    SPONSORED ADR    25030W100      396    14000 SH       DEFINED 01              14000        0        0
DEVELOPERS DIVERSIFIED RLTY    NOTE 3.000% 3/1  251591AS2     4850  5000000 PRN      DEFINED 01            5000000        0        0
DEVON ENERGY CORP NEW          COM              25179M103     6045    93823 SH       DEFINED 01              93823        0        0
DIAMOND OFFSHORE DRILLING IN   COM              25271C102      714     8035 SH       DEFINED 01               8035        0        0
DIGITALGLOBE INC               COM NEW          25389M877     4485   160455 SH       DEFINED 01             160455        0        0
DIRECTV                        COM CL A         25490A101     5648   167056 SH       DEFINED 01             167056        0        0
DISCOVER FINL SVCS             COM              254709108    11645   781518 SH       DEFINED 01             781518        0        0
DISH NETWORK CORP              CL A             25470M109      899    43157 SH       DEFINED 01              43157        0        0
DISNEY WALT CO                 COM DISNEY       254687106     9071   259836 SH       DEFINED 01             259836        0        0
DOLAN MEDIA CO                 COM              25659P402     3878   356762 SH       DEFINED 01             356762        0        0
DOLLAR TREE INC                COM              256746108     3050    51499 SH       DEFINED 01              51499        0        0
DOW CHEM CO                    COM              260543103     4000   135262 SH       DEFINED 01             135262        0        0
DREAMWORKS ANIMATION SKG INC   CL A             26153C103      788    20000 SH       DEFINED 01              20000        0        0
DU PONT E I DE NEMOURS & CO    COM              263534109     4095   109950 SH       DEFINED 01             109950        0        0
DUKE ENERGY CORP NEW           COM              26441C105     1555    95295 SH       DEFINED 01              95295        0        0
DUKE REALTY CORP               COM NEW          264411505      496    40022 SH       DEFINED 01              40022        0        0
E M C CORP MASS                COM              268648102     5611   311051 SH       DEFINED 01             311051        0        0
E M C CORP MASS                NOTE 1.750%12/0  268648AM4    44363 35455000 PRN      DEFINED 01           35455000        0        0
EBAY INC                       COM              278642103     5036   186753 SH       DEFINED 01             186753        0        0
EDISON INTL                    COM              281020107     2335    68346 SH       DEFINED 01              68346        0        0
EL PASO CORP                   COM              28336L109     9513   877612 SH       DEFINED 01             877612        0        0
ELECTRONIC ARTS INC            COM              285512109      870    46620 SH       DEFINED 01              46620        0        0
ENDEAVOR INTL CORP INC         NOTE 6.000% 1/1  29257MAB6     4625  5000000 PRN      DEFINED 01            5000000        0        0
ENERGEN CORP                   COM              29265N108      446     9584 SH       DEFINED 01               9584        0        0
ENERGIZER HLDGS INC            COM              29266R108      714    11369 SH       DEFINED 01              11369        0        0
ENSCO INTL PLC                 SPONSORED ADR    29358Q109     2452    54756 SH       DEFINED 01              54756        0        0
ENTERGY CORP NEW               COM              29364G103     2907    35733 SH       DEFINED 01              35733        0        0
ENZON PHARMACEUTICALS INC      NOTE 4.000% 6/0  293904AE8    13255 11000000 PRN      DEFINED 01           11000000        0        0
EOG RES INC                    COM              26875P101     1394    15000 SH  CALL DEFINED 01              15000        0        0
EOG RES INC                    COM              26875P101     5301    57033 SH       DEFINED 01              57033        0        0
EQT CORP                       COM              26884L109     1100    26820 SH       DEFINED 01              26820        0        0
EQUITY RESIDENTIAL             SH BEN INT       29476L107     1340    34233 SH       DEFINED 01              34233        0        0
EVERGREEN SOLAR INC            NOTE 4.000% 7/1  30033RAC2     2625  5000000 PRN      DEFINED 01            5000000        0        0
EXCO RESOURCES INC             COM              269279402     1844   100350 SH       DEFINED 01             100350        0        0
EXPEDITORS INTL WASH INC       COM              302130109     2297    62211 SH       DEFINED 01              62211        0        0
EXPRESS SCRIPTS INC            COM              302182100     4139    40676 SH       DEFINED 01              40676        0        0
EXXON MOBIL CORP               COM              30231G102    48372   722190 SH       DEFINED 01             722190        0        0
FEDEX CORP                     COM              31428X106     3998    42805 SH       DEFINED 01              42805        0        0
FIFTH THIRD BANCORP            COM              316773100     4381   323093 SH       DEFINED 01             323093        0        0
FIRST SOLAR INC                COM              336433107      846     6896 SH       DEFINED 01               6896        0        0
FIRSTENERGY CORP               COM              337932107     1200    30711 SH       DEFINED 01              30711        0        0
FLAGSTAR BANCORP INC           COM              337930101      480   800000 SH       DEFINED 01             800000        0        0
FLOTEK INDS INC DEL            COM              343389102       64    50000 SH       DEFINED 01              50000        0        0
FLOTEK INDS INC DEL            NOTE 5.250% 2/1  343389AA0     1118  2000000 PRN      DEFINED 01            2000000        0        0
FLUOR CORP NEW                 COM              343412102     1319    28365 SH       DEFINED 01              28365        0        0
FMC TECHNOLOGIES INC           COM              30249U101     1054    16305 SH       DEFINED 01              16305        0        0
FORD MTR CO CAP TR II          PFD TR CV6.5%    345395206     2318    50000 SH       DEFINED 01              50000        0        0
FORD MTR CO DEL                COM PAR $0.01    345370860     5098   405604 SH       DEFINED 01             405604        0        0
FORD MTR CO DEL                NOTE 4.250%11/1  345370CN8    14975 10000000 PRN      DEFINED 01           10000000        0        0
FORD MTR CO DEL                NOTE 4.250%12/1  345370CF5    26239 17500000 PRN      DEFINED 01           17500000        0        0
FOREST LABS INC                COM              345838106     2208    70408 SH       DEFINED 01              70408        0        0
FOREST OIL CORP                COM PAR $0.01    346091705     1723    66739 SH       DEFINED 01              66739        0        0
FORESTAR GROUP INC             COM              346233109     1704    90274 SH       DEFINED 01              90274        0        0
FOSTER WHEELER AG              COM              H27178104    18123   667743 SH       DEFINED 01             667743        0        0
FPL GROUP INC                  COM              302571104     2852    59015 SH       DEFINED 01              59015        0        0
FRANKLIN TEMPLETON LTD DUR I   COM              35472T101    15198  1135001 SH       DEFINED 01            1135001        0        0
FREEPORT-MCMORAN COPPER & GO   COM              35671D857    22187   265585 SH       DEFINED 01             265585        0        0
FREEPORT-MCMORAN COPPER & GO   COM              35671D857     6516    78000 SH  PUT  DEFINED 01              78000        0        0
GAMESTOP CORP NEW              CL A             36467W109      507    23122 SH       DEFINED 01              23122        0        0
GENERAL DYNAMICS CORP          COM              369550108     1874    24269 SH       DEFINED 01              24269        0        0
GENERAL ELECTRIC CO            COM              369604103    14490   796141 SH       DEFINED 01             796141        0        0
GENERAL MLS INC                COM              370334104     1702    24037 SH       DEFINED 01              24037        0        0
GENZYME CORP                   COM              372917104     2101    40529 SH       DEFINED 01              40529        0        0
GILEAD SCIENCES INC            COM              375558103     6175   135773 SH       DEFINED 01             135773        0        0
GILEAD SCIENCES INC            NOTE 0.500% 5/0  375558AG8     6056  5000000 PRN      DEFINED 01            5000000        0        0
GILEAD SCIENCES INC            NOTE 0.625% 5/0  375558AH6    10140  8000000 PRN      DEFINED 01            8000000        0        0
GLG PARTNERS INC               COM              37929X107     4021  1309664 SH       DEFINED 01            1309664        0        0
GLG PARTNERS INC               UNIT 12/28/2011  37929X206      293    90200 SH       DEFINED 01              90200        0        0
GLOBALSTAR INC                 COM              378973408      136   100000 SH       DEFINED 01             100000        0        0
GOLDCORP INC NEW               COM              380956409      387    10400 SH       DEFINED 01              10400        0        0
GOLDMAN SACHS GROUP INC        COM              38141G104    17088   100146 SH       DEFINED 01             100146        0        0
GOODRICH CORP                  COM              382388106     1587    22500 SH       DEFINED 01              22500        0        0
GOODRICH PETE CORP             COM NEW          382410405     1575   100694 SH       DEFINED 01             100694        0        0
GOODRICH PETE CORP             NOTE 5.000%10/0  382410AC2     4369  5000000 PRN      DEFINED 01            5000000        0        0
GOODYEAR TIRE & RUBR CO        COM              382550101     4973   393459 SH       DEFINED 01             393459        0        0
GOOGLE INC                     CL A             38259P508    37367    65901 SH       DEFINED 01              65901        0        0
GREAT ATLANTIC & PAC TEA INC   NOTE 6.750%12/1  390064AK9    21875 25000000 PRN      DEFINED 01           25000000        0        0
GREAT PLAINS ENERGY INC        UNIT 06/15/2042  391164803     4172    65800 SH       DEFINED 01              65800        0        0
GRUPO TELEVISA SA DE CV        SP ADR REP ORD   40049J206      631    30000 SH       DEFINED 01              30000        0        0
GT SOLAR INTL INC              COM              3623E0209     3881   742029 SH       DEFINED 01             742029        0        0
HALLIBURTON CO                 COM              406216101     4348   144318 SH       DEFINED 01             144318        0        0
HARLEY DAVIDSON INC            COM              412822108     3245   115615 SH       DEFINED 01             115615        0        0
HARTFORD FINL SVCS GROUP INC   COM              416515104     6510   229056 SH       DEFINED 01             229056        0        0
HASBRO INC                     COM              418056107     4311   112618 SH       DEFINED 01             112618        0        0
HASBRO INC                     COM              418056107     5742   150000 SH  CALL DEFINED 01             150000        0        0
HDFC BANK LTD                  ADR REPS 3 SHS   40415F101      245     1760 SH       DEFINED 01               1760        0        0
HECKMANN CORP                  *W EXP 11/09/201 422680116      520   742300 SH       DEFINED 01             742300        0        0
HEINZ H J CO                   COM              423074103     1904    41750 SH       DEFINED 01              41750        0        0
HELMERICH & PAYNE INC          COM              423452101      614    16125 SH       DEFINED 01              16125        0        0
HESS CORP                      COM              42809H107     2668    42657 SH       DEFINED 01              42657        0        0
HEWLETT PACKARD CO             COM              428236103    19518   367230 SH       DEFINED 01             367230        0        0
HOLOGIC INC                    COM              436440101      729    39318 SH       DEFINED 01              39318        0        0
HOME DEPOT INC                 COM              437076102     6303   194830 SH       DEFINED 01             194830        0        0
HONEYWELL INTL INC             COM              438516106     7007   154776 SH       DEFINED 01             154776        0        0
HORNBECK OFFSHORE SVCS INC N   FRNT 1.625%11/1  440543AE6     4169  5000000 PRN      DEFINED 01            5000000        0        0
HOSPITALITY PPTYS TR           NOTE 3.800% 3/1  44106MAK8    45678 45649000 PRN      DEFINED 01           45649000        0        0
ICICI BK LTD                   ADR              45104G104    25918   606969 SH       DEFINED 01             606969        0        0
ILLINOIS TOOL WKS INC          COM              452308109     2946    62197 SH       DEFINED 01              62197        0        0
ILLUMINA INC                   COM              452327109      680    17480 SH       DEFINED 01              17480        0        0
INFOSYS TECHNOLOGIES LTD       SPONSORED ADR    456788108      683    11620 SH       DEFINED 01              11620        0        0
INGERSOLL-RAND PLC             SHS              G47791101     1723    49414 SH       DEFINED 01              49414        0        0
INTEL CORP                     COM              458140100    36397  1635094 SH       DEFINED 01            1635094        0        0
INTERCONTINENTALEXCHANGE INC   COM              45865V100     1022     9107 SH       DEFINED 01               9107        0        0
INTERNATIONAL BUSINESS MACHS   COM              459200101    46733   364387 SH       DEFINED 01             364387        0        0
INTERNATIONAL COAL GRP INC N   NOTE 9.000% 8/0  45928HAD8     4095  3500000 PRN      DEFINED 01            3500000        0        0
INTEROIL CORP                  COM              460951106     7290   112500 SH       DEFINED 01             112500        0        0
INTERPUBLIC GROUP COS INC      NOTE 4.250% 3/1  460690BA7     5231  5000000 PRN      DEFINED 01            5000000        0        0
INTUIT                         COM              461202103     1830    53289 SH       DEFINED 01              53289        0        0
IRELAND BK                     SPONSORED ADR    46267Q103      223    25000 SH       DEFINED 01              25000        0        0
ISHARES INC                    MSCI AUSTRALIA   464286103      996    41500 SH       DEFINED 01              41500        0        0
ISHARES INC                    MSCI MEX INVEST  464286822    42696   800000 SH  CALL DEFINED 01             800000        0        0
ISHARES INC                    MSCI S KOREA     464286772     2463    49255 SH       DEFINED 01              49255        0        0
ISHARES INC                    MSCI TAIWAN      464286731    19453  1550000 SH       DEFINED 01            1550000        0        0
ISHARES SILVER TRUST           ISHARES          46428Q109     3428   200000 SH       DEFINED 01             200000        0        0
ISHARES TR INDEX               FTSE XNHUA IDX   464287184     2947    70000 SH       DEFINED 01              70000        0        0
ISHARES TR INDEX               MSCI EMERG MKT   464287234    21895   519800 SH       DEFINED 01             519800        0        0
ISHARES TR INDEX               MSCI EMERG MKT   464287234    12001   284900 SH  PUT  DEFINED 01             284900        0        0
ISHARES TR INDEX               RUSSELL 2000     464287655     3390    50000 SH  PUT  DEFINED 01              50000        0        0
ITAU UNIBANCO HLDG SA          SPON ADR REP PFD 465562106    10272   467138 SH       DEFINED 01             467138        0        0
ITT CORP NEW                   COM              450911102     1491    27803 SH       DEFINED 01              27803        0        0
IVANHOE MINES LTD              COM              46579N103      875    50000 SH       DEFINED 01              50000        0        0
JACKSON HEWITT TAX SVCS INC    COM              468202106       40    20000 SH  PUT  DEFINED 01              20000        0        0
JETBLUE AIRWAYS CORP           DBCV 6.750%10/1  477143AF8     6894  5000000 PRN      DEFINED 01            5000000        0        0
JOHNSON & JOHNSON              COM              478160104      526     8063 SH       DEFINED 01               8063        0        0
JONES LANG LASALLE INC         COM              48020Q107     9964   136700 SH       DEFINED 01             136700        0        0
JPMORGAN CHASE & CO            *W EXP 10/28/201 46634E114     3843   250000 SH       DEFINED 01             250000        0        0
JPMORGAN CHASE & CO            COM              46625H100    52280  1168278 SH       DEFINED 01            1168278        0        0
JUNIPER NETWORKS INC           COM              48203R104     2399    78189 SH       DEFINED 01              78189        0        0
KBR INC                        COM              48242W106     2093    94428 SH       DEFINED 01              94428        0        0
KELLOGG CO                     COM              487836108     3405    63722 SH       DEFINED 01              63722        0        0
KINROSS GOLD CORP              COM NO PAR       496902404     1777   104000 SH       DEFINED 01             104000        0        0
KINROSS GOLD CORP              NOTE 1.750% 3/1  496902AD9     5050  5000000 PRN      DEFINED 01            5000000        0        0
KLA-TENCOR CORP                COM              482480100      460    14892 SH       DEFINED 01              14892        0        0
KOHLS CORP                     COM              500255104     8185   149422 SH       DEFINED 01             149422        0        0
KRAFT FOODS INC                CL A             50075N104     6583   217692 SH       DEFINED 01             217692        0        0
KROGER CO                      COM              501044101     6899   318529 SH       DEFINED 01             318529        0        0
LAM RESEARCH CORP              COM              512807108     1942    52035 SH       DEFINED 01              52035        0        0
LAMAR ADVERTISING CO           CL A             512815101     1727    50278 SH       DEFINED 01              50278        0        0
LEAP WIRELESS INTL INC         NOTE 4.500% 7/1  521863AL4     3058  3500000 PRN      DEFINED 01            3500000        0        0
LEAR CORP                      COM NEW          521865204     9738   122725 SH       DEFINED 01             122725        0        0
LEVEL 3 COMMUNICATIONS INC     NOTE 5.250%12/1  52729NBF6     9750 10000000 PRN      DEFINED 01           10000000        0        0
LG DISPLAY CO LTD              SPONS ADR REP    50186V102     5371   303805 SH       DEFINED 01             303805        0        0
LIBERTY MEDIA CORP             DEB 3.500% 1/1   530715AN1    12250 25000000 PRN      DEFINED 01           25000000        0        0
LIBERTY MEDIA CORP NEW         CAP COM SER A    53071M302     1561    42909 SH       DEFINED 01              42909        0        0
LIBERTY MEDIA CORP NEW         DEB 3.125% 3/3   530718AF2    27820 26000000 PRN      DEFINED 01           26000000        0        0
LIBERTY MEDIA CORP NEW         INT COM SER A    53071M104     2083   136065 SH       DEFINED 01             136065        0        0
LIBERTY MEDIA CORP NEW         LIB STAR COM A   53071M708     2992    54719 SH       DEFINED 01              54719        0        0
LILLY ELI & CO                 COM              532457108     3742   103304 SH       DEFINED 01             103304        0        0
LINCOLN EDL SVCS CORP          COM              533535100    10120   400000 SH       DEFINED 01             400000        0        0
LINCOLN NATL CORP IND          COM              534187109     4062   132306 SH       DEFINED 01             132306        0        0
LINEAR TECHNOLOGY CORP         COM              535678106      907    32087 SH       DEFINED 01              32087        0        0
LINEAR TECHNOLOGY CORP         NOTE 3.000% 5/0  535678AC0     5865  6000000 PRN      DEFINED 01            6000000        0        0
LOCKHEED MARTIN CORP           COM              539830109     4202    50494 SH       DEFINED 01              50494        0        0
LOWES COS INC                  COM              548661107     3517   145087 SH       DEFINED 01             145087        0        0
MACYS INC                      COM              55616P104     2177   100000 SH  CALL DEFINED 01             100000        0        0
MACYS INC                      COM              55616P104     8636   396702 SH       DEFINED 01             396702        0        0
MANPOWER INC                   COM              56418H100     5084    89011 SH       DEFINED 01              89011        0        0
MARATHON OIL CORP              COM              565849106     2757    87149 SH       DEFINED 01              87149        0        0
MARKET VECTORS ETF TR          AGRIBUS ETF      57060U605      938    20800 SH       DEFINED 01              20800        0        0
MARKET VECTORS ETF TR          AGRIBUS ETF      57060U605    13530   300000 SH  CALL DEFINED 01             300000        0        0
MARKET VECTORS ETF TR          GOLD MINER ETF   57060U100    55695  1254100 SH  PUT  DEFINED 01            1254100        0        0
MARKET VECTORS ETF TR          GOLD MINER ETF   57060U100    35941   809298 SH       DEFINED 01             809298        0        0
MARKET VECTORS ETF TR          GOLD MINER ETF   57060U100    22205   500000 SH  CALL DEFINED 01             500000        0        0
MARKWEST ENERGY PARTNERS L P   UNIT LTD PARTN   570759100      307    10000 SH       DEFINED 01              10000        0        0
MARTIN MARIETTA MATLS INC      COM              573284106     2194    26254 SH       DEFINED 01              26254        0        0
MARVELL TECHNOLOGY GROUP LTD   ORD              G5876H105      634    31058 SH       DEFINED 01              31058        0        0
MASCO CORP                     COM              574599106     1195    77025 SH       DEFINED 01              77025        0        0
MASSEY ENERGY CORP             COM              576206106     1255    24006 SH       DEFINED 01              24006        0        0
MASTERCARD INC                 CL A             57636Q104     5409    21295 SH       DEFINED 01              21295        0        0
MATTEL INC                     COM              577081102     1301    57222 SH       DEFINED 01              57222        0        0
MCAFEE INC                     COM              579064106     2244    55906 SH       DEFINED 01              55906        0        0
MCDERMOTT INTL INC             COM              580037109     3147   116892 SH       DEFINED 01             116892        0        0
MCKESSON CORP                  COM              58155Q103     2727    41500 SH       DEFINED 01              41500        0        0
MDU RES GROUP INC              COM              552690109      600    27813 SH       DEFINED 01              27813        0        0
MEAD JOHNSON NUTRITION CO      COM              582839106     5203   100000 SH  CALL DEFINED 01             100000        0        0
MEAD JOHNSON NUTRITION CO      COM              582839106     6361   122266 SH       DEFINED 01             122266        0        0
MECHEL OAO                     SPONSORED ADR    583840103     2343    82439 SH       DEFINED 01              82439        0        0
MEDCO HEALTH SOLUTIONS INC     COM              58405U102     5043    78113 SH       DEFINED 01              78113        0        0
MEDTRONIC INC                  COM              585055106     9893   219705 SH       DEFINED 01             219705        0        0
MEDTRONIC INC                  NOTE 1.500% 4/1  585055AL0    33109 32500000 PRN      DEFINED 01           32500000        0        0
MEDTRONIC INC                  NOTE 1.625% 4/1  585055AM8    21175 20000000 PRN      DEFINED 01           20000000        0        0
MEMC ELECTR MATLS INC          COM              552715104     1920   125270 SH       DEFINED 01             125270        0        0
MERCK & CO INC NEW             COM              58933Y105    14537   389215 SH       DEFINED 01             389215        0        0
METLIFE INC                    COM              59156R108     7899   182250 SH       DEFINED 01             182250        0        0
METROPCS COMMUNICATIONS INC    COM              591708102      572    80773 SH       DEFINED 01              80773        0        0
MF GLOBAL LTD                  NOTE 9.000% 6/2  55276YAB2    23374 20150000 PRN      DEFINED 01           20150000        0        0
MFA FINANCIAL INC              COM              55272X102     1357   184421 SH       DEFINED 01             184421        0        0
MICROCHIP TECHNOLOGY INC       SDCV 2.125%12/1  595017ab0     9950 10000000 PRN      DEFINED 01           10000000        0        0
MICRON TECHNOLOGY INC          NOTE 1.875% 6/0  595112AH6     7169  7500000 PRN      DEFINED 01            7500000        0        0
MICROSOFT CORP                 COM              594918104    71025  2426544 SH       DEFINED 01            2426544        0        0
MILLICOM INTL CELLULAR S A     SHS NEW          L6388F110     7307    81963 SH       DEFINED 01              81963        0        0
MILLIPORE CORP                 COM              601073109    43953   416220 SH       DEFINED 01             416220        0        0
MOBILE TELESYSTEMS OJSC        SPONSORED ADR    607409109     8874   159900 SH       DEFINED 01             159900        0        0
MONSANTO CO NEW                COM              61166W101     3571    50000 SH  CALL DEFINED 01              50000        0        0
MONSANTO CO NEW                COM              61166W101    10000   140013 SH       DEFINED 01             140013        0        0
MORGAN STANLEY                 COM NEW          617446448     7876   268899 SH       DEFINED 01             268899        0        0
MOSAIC CO                      COM              61945A107    28549   469790 SH       DEFINED 01             469790        0        0
MOSAIC CO                      COM              61945A107    23688   389800 SH  PUT  DEFINED 01             389800        0        0
MOTOROLA INC                   COM              620076109     2495   355480 SH       DEFINED 01             355480        0        0
MSCI INC                       CL A             55354G100     6577   182182 SH       DEFINED 01             182182        0        0
MURPHY OIL CORP                COM              626717102     1548    27548 SH       DEFINED 01              27548        0        0
MYLAN INC                      COM              628530107      953    41959 SH       DEFINED 01              41959        0        0
MYLAN INC                      PFD CONV         628530206     6784     5000 SH       DEFINED 01               5000        0        0
NABORS INDUSTRIES LTD          SHS              G6359F103      795    40519 SH       DEFINED 01              40519        0        0
NATIONAL CINEMEDIA INC         COM              635309107      259    15000 SH       DEFINED 01              15000        0        0
NATIONAL OILWELL VARCO INC     COM              637071101     2128    52438 SH       DEFINED 01              52438        0        0
NAVISTAR INTL CORP NEW         COM              63934E108     3802    85000 SH       DEFINED 01              85000        0        0
NETAPP INC                     COM              64110D104     3658   112358 SH       DEFINED 01             112358        0        0
NETAPP INC                     NOTE 1.750% 6/0  64110DAB0     8725  7410000 PRN      DEFINED 01            7410000        0        0
NEUROCRINE BIOSCIENCES INC     COM              64125C109     2334   915220 SH       DEFINED 01             915220        0        0
NEWCASTLE INVT CORP            COM              65105M108      528   163326 SH       DEFINED 01             163326        0        0
NEWFIELD EXPL CO               COM              651290108    12228   234926 SH       DEFINED 01             234926        0        0
NEWMONT MINING CORP            COM              651639106     3774    74105 SH       DEFINED 01              74105        0        0
NEWS CORP                      CL A             65248E104     4949   343425 SH       DEFINED 01             343425        0        0
NEWSTAR FINANCIAL INC          COM              65251F105      320    50137 SH       DEFINED 01              50137        0        0
NIKE INC                       CL B             654106103     4289    58353 SH       DEFINED 01              58353        0        0
NISOURCE INC                   COM              65473P105      675    42700 SH       DEFINED 01              42700        0        0
NOBLE ENERGY INC               COM              655044105     8400   115072 SH       DEFINED 01             115072        0        0
NOMURA HLDGS INC               SPONSORED ADR    65535H208     1833   250000 SH       DEFINED 01             250000        0        0
NORFOLK SOUTHERN CORP          COM              655844108     3025    54131 SH       DEFINED 01              54131        0        0
NORTH AMERN ENERGY PARTNERS    COM              656844107     1590   165805 SH       DEFINED 01             165805        0        0
NORTHEAST UTILS                COM              664397106      711    25733 SH       DEFINED 01              25733        0        0
NPS PHARMACEUTICALS INC        COM              62936P103    14201  2817570 SH       DEFINED 01            2817570        0        0
NRG ENERGY INC                 COM NEW          629377508      774    37015 SH       DEFINED 01              37015        0        0
NSTAR                          COM              67019E107      845    23844 SH       DEFINED 01              23844        0        0
NUANCE COMMUNICATIONS INC      COM              67020Y100     2703   162432 SH       DEFINED 01             162432        0        0
NUVEEN N Y INVT QUALITY MUN    COM              67062X101    15768  1111200 SH       DEFINED 01            1111200        0        0
NV ENERGY INC                  COM              67073Y106     2391   193935 SH       DEFINED 01             193935        0        0
NVIDIA CORP                    COM              67066G104     1418    81585 SH       DEFINED 01              81585        0        0
O REILLY AUTOMOTIVE INC        COM              686091109      819    19627 SH       DEFINED 01              19627        0        0
OCCIDENTAL PETE CORP DEL       COM              674599105    10950   129525 SH       DEFINED 01             129525        0        0
ODYSSEY MARINE EXPLORATION I   COM              676118102     4010  3060776 SH       DEFINED 01            3060776        0        0
OLD REP INTL CORP              NOTE 8.000% 5/1  680223AF1     8924  7219000 PRN      DEFINED 01            7219000        0        0
OMNICARE INC                   DBCV 3.250%12/1  681904AL2     2113  2500000 PRN      DEFINED 01            2500000        0        0
OMNICOM GROUP INC              NOTE 7/3         681919AV8     4975  5000000 PRN      DEFINED 01            5000000        0        0
ON SEMICONDUCTOR CORP          NOTE 2.625%12/1  682189AG0    10313 10000000 PRN      DEFINED 01           10000000        0        0
ONEOK INC NEW                  COM              682680103      694    15203 SH       DEFINED 01              15203        0        0
OPEN JT STK CO-VIMPEL COMMUN   SPONSORED ADR    68370R109     4492   244000 SH       DEFINED 01             244000        0        0
ORACLE CORP                    COM              68389X105    15446   601262 SH       DEFINED 01             601262        0        0
ORIENTAL FINL GROUP INC        COM              68618W100      653    48345 SH       DEFINED 01              48345        0        0
OSI PHARMACEUTICALS INC        COM              671040103    17865   300000 SH       DEFINED 01             300000        0        0
OSI PHARMACEUTICALS INC        COM              671040103    17865   300000 SH  PUT  DEFINED 01             300000        0        0
OVERSEAS SHIPHOLDING GROUP I   COM              690368105     2603    66358 SH       DEFINED 01              66358        0        0
PACTIV CORP                    COM              695257105     4111   163265 SH       DEFINED 01             163265        0        0
PEABODY ENERGY CORP            COM              704549104    11882   260000 SH  PUT  DEFINED 01             260000        0        0
PENSKE AUTOMOTIVE GRP INC      COM              70959W103     7135   494765 SH       DEFINED 01             494765        0        0
PEPCO HOLDINGS INC             COM              713291102      513    29894 SH       DEFINED 01              29894        0        0
PEPSICO INC                    COM              713448108    17395   262930 SH       DEFINED 01             262930        0        0
PETROHAWK ENERGY CORP          COM              716495106    32356  1595459 SH       DEFINED 01            1595459        0        0
PETROLEO BRASILEIRO SA PETRO   SP ADR NON VTG   71654V101     8052   203390 SH       DEFINED 01             203390        0        0
PFIZER INC                     COM              717081103     8738   509486 SH       DEFINED 01             509486        0        0
PG&E CORP                      COM              69331C108     5641   132979 SH       DEFINED 01             132979        0        0
PHARMACEUTICAL HLDRS TR        DEPOSITRY RCPT   71712A206    17308   260892 SH       DEFINED 01             260892        0        0
PHILIP MORRIS INTL INC         COM              718172109      294     5629 SH       DEFINED 01               5629        0        0
PLAINS EXPL& PRODTN CO         COM              726505100    10432   347844 SH       DEFINED 01             347844        0        0
PNC FINL SVCS GROUP INC        COM              693475105    17630   295305 SH       DEFINED 01             295305        0        0
POPULAR INC                    COM              733174106    32576 11194418 SH       DEFINED 01           11194418        0        0
POTASH CORP SASK INC           COM              73755L107    33418   280000 SH  CALL DEFINED 01             280000        0        0
POTASH CORP SASK INC           COM              73755L107    12406   103944 SH       DEFINED 01             103944        0        0
POTASH CORP SASK INC           COM              73755L107    59675   500000 SH  PUT  DEFINED 01             500000        0        0
PPL CORP                       COM              69351T106     3382   122058 SH       DEFINED 01             122058        0        0
PRECISION CASTPARTS CORP       COM              740189105     2664    21024 SH       DEFINED 01              21024        0        0
PRICELINE COM INC              COM NEW          741503403     2243     8795 SH       DEFINED 01               8795        0        0
PROCTER & GAMBLE CO            COM              742718109    26970   426266 SH       DEFINED 01             426266        0        0
PROGRESS ENERGY INC            COM              743263105     5446   138359 SH       DEFINED 01             138359        0        0
PROLOGIS                       NOTE 2.250% 4/0  743410AQ5     6338  6500000 PRN      DEFINED 01            6500000        0        0
PROLOGIS                       NOTE 2.625% 5/1  743410AS1    78066 82500000 PRN      DEFINED 01           82500000        0        0
PROLOGIS                       NOTE 3.250% 3/1  743410AY8    14718 14500000 PRN      DEFINED 01           14500000        0        0
PROLOGIS                       SH BEN INT       743410102      944    71519 SH       DEFINED 01              71519        0        0
PROSHARES TR                   PSHS ULTRSHT O&G 74347R586      429    35000 SH       DEFINED 01              35000        0        0
PROSHARES TR                   PSHS ULTSHT FINL 74347R628      385    20000 SH       DEFINED 01              20000        0        0
PROTECTIVE LIFE CORP           COM              743674103      963    43813 SH       DEFINED 01              43813        0        0
PRUDENTIAL FINL INC            COM              744320102     8499   140478 SH       DEFINED 01             140478        0        0
PUBLIC STORAGE                 COM              74460D109     1013    11011 SH       DEFINED 01              11011        0        0
PUBLIC SVC ENTERPRISE GROUP    COM              744573106     1527    51737 SH       DEFINED 01              51737        0        0
QUALCOMM INC                   COM              747525103    12722   302970 SH       DEFINED 01             302970        0        0
QUESTAR CORP                   COM              748356102     2721    62993 SH       DEFINED 01              62993        0        0
QWEST COMMUNICATIONS INTL IN   COM              749121109     6054  1159705 SH       DEFINED 01            1159705        0        0
RANGE RES CORP                 COM              75281A109     5115   109139 SH       DEFINED 01             109139        0        0
RED HAT INC                    COM              756577102      786    26857 SH       DEFINED 01              26857        0        0
RESEARCH IN MOTION LTD         COM              760975102    13691   185138 SH       DEFINED 01             185138        0        0
ROBERT HALF INTL INC           COM              770323103      657    21581 SH       DEFINED 01              21581        0        0
ROCKWELL AUTOMATION INC        COM              773903109     4849    86030 SH       DEFINED 01              86030        0        0
ROCKWELL COLLINS INC           COM              774341101     3382    54028 SH       DEFINED 01              54028        0        0
RRI ENERGY INC                 COM              74971X107      461   125000 SH       DEFINED 01             125000        0        0
SAFEWAY INC                    COM NEW          786514208     2486   100000 SH  PUT  DEFINED 01             100000        0        0
SAFEWAY INC                    COM NEW          786514208     3888   156398 SH       DEFINED 01             156398        0        0
SALESFORCE COM INC             COM              79466L302     2249    30202 SH       DEFINED 01              30202        0        0
SANDERSON FARMS INC            COM              800013104     2681    50000 SH       DEFINED 01              50000        0        0
SANDY SPRING BANCORP INC       COM              800363103      828    55188 SH       DEFINED 01              55188        0        0
SAVIENT PHARMACEUTICALS INC    COM              80517Q100     1084    75000 SH       DEFINED 01              75000        0        0
SCANA CORP NEW                 COM              80589M102      684    18204 SH       DEFINED 01              18204        0        0
SCHLUMBERGER LTD               COM              806857108    11985   188856 SH       DEFINED 01             188856        0        0
SCHWAB CHARLES CORP NEW        COM              808513105     4200   224722 SH       DEFINED 01             224722        0        0
SCRIPPS NETWORKS INTERACT IN   CL A COM         811065101     8259   186225 SH       DEFINED 01             186225        0        0
SELECT SECTOR SPDR TR          SBI INT-ENERGY   81369Y506     5963   103674 SH       DEFINED 01             103674        0        0
SELECT SECTOR SPDR TR          SBI INT-FINL     81369Y605     3988   250000 SH  PUT  DEFINED 01             250000        0        0
SELECT SECTOR SPDR TR          SBI INT-INDS     81369Y704      312    10000 SH  PUT  DEFINED 01              10000        0        0
SEMPRA ENERGY                  COM              816851109     1685    33776 SH       DEFINED 01              33776        0        0
SIGA TECHNOLOGIES INC          COM              826917106     1459   220000 SH       DEFINED 01             220000        0        0
SIMON PPTY GROUP INC NEW       COM              828806109     3705    44158 SH       DEFINED 01              44158        0        0
SIMS METAL MANAGEMENT LTD      SPONS ADR        829160100      982    50000 SH       DEFINED 01              50000        0        0
SMITH INTL INC                 COM              832110100    20051   468267 SH       DEFINED 01             468267        0        0
SOLARFUN POWER HOLDINGS CO L   SPONSORED ADR    83415U108     1043   133500 SH       DEFINED 01             133500        0        0
SOMAXON PHARMACEUTICALS INC    COM              834453102     1775   205000 SH       DEFINED 01             205000        0        0
SOTHEBYS                       COM              835898107    15328   400000 SH  PUT  DEFINED 01             400000        0        0
SOTHEBYS                       COM              835898107     1244    40000 SH       DEFINED 01              40000        0        0
SOTHEBYS                       COM              835898107     6218   200000 SH  CALL DEFINED 01             200000        0        0
SOTHEBYS                       NOTE 3.125% 6/1  835898AC1     7313  6500000 PRN      DEFINED 01            6500000        0        0
SOUTHERN CO                    COM              842587107     4015   121073 SH       DEFINED 01             121073        0        0
SOUTHWESTERN ENERGY CO         COM              845467109     5739   140950 SH       DEFINED 01             140950        0        0
SPDR GOLD TRUST                GOLD SHS         78463V107    68279   626700 SH  CALL DEFINED 01             626700        0        0
SPDR GOLD TRUST                GOLD SHS         78463V107     5448    50000 SH       DEFINED 01              50000        0        0
SPDR S&P 500 ETF TR            UNIT SER 1 S&P   78462F103   163800  1400000 SH  PUT  DEFINED 01            1400000        0        0
SPDR S&P 500 ETF TR            UNIT SER 1 S&P   78462F103     2340    20000 SH       DEFINED 01              20000        0        0
SPDR SERIES TRUST              S&P METALS MNG   78464A755    24718   435100 SH  PUT  DEFINED 01             435100        0        0
SPDR SERIES TRUST              S&P OILGAS EXP   78464A730    10713   254273 SH       DEFINED 01             254273        0        0
SPDR SERIES TRUST              S&P RETAIL ETF   78464A714    10325   250000 SH  PUT  DEFINED 01             250000        0        0
SPECTRA ENERGY CORP            COM              847560109     2108    93578 SH       DEFINED 01              93578        0        0
SPRINT NEXTEL CORP             COM SER 1        852061100     1780   468511 SH       DEFINED 01             468511        0        0
SPX CORP                       COM              784635104     1258    18964 SH       DEFINED 01              18964        0        0
ST JUDE MED INC                COM              790849103      540    13151 SH       DEFINED 01              13151        0        0
STAPLES INC                    COM              855030102     2594   110915 SH       DEFINED 01             110915        0        0
STARWOOD PPTY TR INC           COM              85571B105     1045    54150 SH       DEFINED 01              54150        0        0
STATE STR CORP                 COM              857477103     5244   116167 SH       DEFINED 01             116167        0        0
STEEL DYNAMICS INC             COM              858119100     2436   139449 SH       DEFINED 01             139449        0        0
STREAM GLOBAL SVCS INC         *W EXP 10/17/201 86323M118      210   300000 SH       DEFINED 01             300000        0        0
STRYKER CORP                   COM              863667101     2651    46328 SH       DEFINED 01              46328        0        0
SUNCOR ENERGY INC NEW          COM              867224107    16921   520000 SH  CALL DEFINED 01             520000        0        0
SUNCOR ENERGY INC NEW          COM              867224107     7569   232593 SH       DEFINED 01             232593        0        0
SUNOCO INC                     COM              86764P109      448    15085 SH       DEFINED 01              15085        0        0
SUNPOWER CORP                  COM CL A         867652109      945    50000 SH  CALL DEFINED 01              50000        0        0
SUNTECH PWR HLDGS CO LTD       NOTE 3.000% 3/1  86800CAE4     2166  2500000 PRN      DEFINED 01            2500000        0        0
SUPERVALU INC                  COM              868536103     2750   164867 SH       DEFINED 01             164867        0        0
SYMANTEC CORP                  NOTE 1.000% 6/1  871503AF5    32025 30000000 PRN      DEFINED 01           30000000        0        0
SYMETRA FINL CORP              COM              87151Q106     3737   283552 SH       DEFINED 01             283552        0        0
SYSCO CORP                     COM              871829107     1475    50000 SH       DEFINED 01              50000        0        0
TAKE-TWO INTERACTIVE SOFTWAR   COM              874054109      178    17998 SH       DEFINED 01              17998        0        0
TAKE-TWO INTERACTIVE SOFTWAR   NOTE 4.375% 6/0  874054AA7     3533  3000000 PRN      DEFINED 01            3000000        0        0
TALECRIS BIOTHERAPEUTICS HLD   COM              874227101     4664   234149 SH       DEFINED 01             234149        0        0
TARGET CORP                    COM              87612E106     6249   118804 SH       DEFINED 01             118804        0        0
TD AMERITRADE HLDG CORP        COM              87236Y108      854    44794 SH       DEFINED 01              44794        0        0
TEMPLE INLAND INC              COM              879868107     2518   123268 SH       DEFINED 01             123268        0        0
TENARIS S A                    SPONSORED ADR    88031M109     1288    30000 SH       DEFINED 01              30000        0        0
TERADYNE INC                   COM              880770102     1067    95530 SH       DEFINED 01              95530        0        0
TEREX CORP NEW                 COM              880779103    12973   571240 SH       DEFINED 01             571240        0        0
TEVA PHARMACEUTICAL INDS LTD   ADR              881624209     3438    54500 SH  CALL DEFINED 01              54500        0        0
TEVA PHARMACEUTICAL INDS LTD   ADR              881624209     8831   140000 SH       DEFINED 01             140000        0        0
TEXAS INSTRS INC               COM              882508104     1989    81299 SH       DEFINED 01              81299        0        0
TEXAS INSTRS INC               COM              882508104     3671   150000 SH  PUT  DEFINED 01             150000        0        0
TEXTRON INC                    COM              883203101     2395   112806 SH       DEFINED 01             112806        0        0
THERMO FISHER SCIENTIFIC INC   COM              883556102     3426    66594 SH       DEFINED 01              66594        0        0
TIME WARNER INC                COM NEW          887317303     2597    83065 SH       DEFINED 01              83065        0        0
TITAN INTL INC ILL             COM              88830M102      319    36500 SH       DEFINED 01              36500        0        0
TJX COS INC NEW                COM              872540109     4252   100000 SH  CALL DEFINED 01             100000        0        0
TJX COS INC NEW                COM              872540109    23727   558009 SH       DEFINED 01             558009        0        0
TOMOTHERAPY INC                COM              890088107      830   243391 SH       DEFINED 01             243391        0        0
TOYOTA MOTOR CORP              CALL             892331907     7157    89000 SH  CALL DEFINED 01              89000        0        0
TRANSATLANTIC HLDGS INC        COM              893521104     4023    76194 SH       DEFINED 01              76194        0        0
TRANSOCEAN INC                 NOTE 1.500%12/1  893830AV1     2439  2500000 PRN      DEFINED 01            2500000        0        0
TRANSOCEAN INC                 NOTE 1.500%12/1  893830AW9    84756 88750000 PRN      DEFINED 01           88750000        0        0
TRANSOCEAN LTD                 REG SHS          H8817H100     7755    89781 SH       DEFINED 01              89781        0        0
TRAVELERS COMPANIES INC        COM              89417E109     4718    87461 SH       DEFINED 01              87461        0        0
TREX CO INC                    NOTE 6.000% 7/0  89531PAA3     3003  2500000 PRN      DEFINED 01            2500000        0        0
TUPPERWARE BRANDS CORP         COM              899896104     4822   100000 SH  CALL DEFINED 01             100000        0        0
TUPPERWARE BRANDS CORP         COM              899896104     7803   161816 SH       DEFINED 01             161816        0        0
TYCO INTERNATIONAL LTD         SHS              H89128104     5524   144431 SH       DEFINED 01             144431        0        0
UAL CORP                       NOTE 4.500% 6/3  902549AH7    29685 29985000 PRN      DEFINED 01           29985000        0        0
ULTRA PETROLEUM CORP           COM              903914109     3557    76272 SH       DEFINED 01              76272        0        0
ULTRA PETROLEUM CORP           COM              903914109     4663   100000 SH  CALL DEFINED 01             100000        0        0
ULTRATECH INC                  COM              904034105     2470   181643 SH       DEFINED 01             181643        0        0
UNION PAC CORP                 COM              907818108     5441    74228 SH       DEFINED 01              74228        0        0
UNITED DOMINION REALTY TR IN   NOTE 3.625% 9/1  910197AM4    21700 21700000 PRN      DEFINED 01           21700000        0        0
UNITED DOMINION REALTY TR IN   NOTE 4.000%12/1  910197AK8     5405  5358000 PRN      DEFINED 01            5358000        0        0
UNITED PARCEL SERVICE INC      CL B             911312106    20926   324885 SH       DEFINED 01             324885        0        0
UNITED STATES NATL GAS FUND    UNIT             912318102     1189   172000 SH       DEFINED 01             172000        0        0
UNITED STATES STL CORP NEW     COM              912909108     3303    52000 SH  PUT  DEFINED 01              52000        0        0
UNITED TECHNOLOGIES CORP       COM              913017109    11621   157866 SH       DEFINED 01             157866        0        0
UNITED THERAPEUTICS CORP DEL   COM              91307C102     1660    30000 SH       DEFINED 01              30000        0        0
UNITED WESTN BANCORP INC       COM              913201109      281   185000 SH       DEFINED 01             185000        0        0
UNITEDHEALTH GROUP INC         COM              91324P102    14902   456142 SH       DEFINED 01             456142        0        0
US BANCORP DEL                 COM NEW          902973304     8074   311975 SH       DEFINED 01             311975        0        0
USEC INC                       NOTE 3.000%10/0  90333EAC2     8088 10000000 PRN      DEFINED 01           10000000        0        0
VALE S A                       ADR              91912E105    19314   600000 SH  PUT  DEFINED 01             600000        0        0
VALE S A                       ADR              91912E105     6509   202196 SH       DEFINED 01             202196        0        0
VALE S A                       ADR REPSTG PFD   91912E204    17313   623653 SH       DEFINED 01             623653        0        0
VALERO ENERGY CORP NEW         COM              91913Y100     1756    89135 SH       DEFINED 01              89135        0        0
VALUECLICK INC                 COM              92046N102      358    35344 SH       DEFINED 01              35344        0        0
VANDA PHARMACEUTICALS INC      COM              921659108      289    25000 SH       DEFINED 01              25000        0        0
VANTAGE DRILLING COMPANY       *W EXP 05/24/201 G93205121        0   550000 SH       DEFINED 01             550000        0        0
VERISK ANALYTICS INC           CL A             92345Y106     1706    60495 SH       DEFINED 01              60495        0        0
VERIZON COMMUNICATIONS INC     COM              92343V104     4588   147915 SH       DEFINED 01             147915        0        0
VIACOM INC NEW                 CL B             92553P201    17927   521425 SH       DEFINED 01             521425        0        0
VIRGIN MEDIA INC               COM              92769L101    55061  3190099 SH       DEFINED 01            3190099        0        0
VISA INC                       COM CL A         92826C839    18919   207837 SH       DEFINED 01             207837        0        0
VMWARE INC                     CL A COM         928563402    10914   204766 SH       DEFINED 01             204766        0        0
VORNADO RLTY L P               DBCV 3.625%11/1  929043AE7     5050  5000000 PRN      DEFINED 01            5000000        0        0
VORNADO RLTY L P               DEB 3.875% 4/1   929043AC1    16538 15000000 PRN      DEFINED 01           15000000        0        0
WAL MART STORES INC            COM              931142103    20504   368781 SH       DEFINED 01             368781        0        0
WALGREEN CO                    COM              931422109     2968    80029 SH       DEFINED 01              80029        0        0
WALTER ENERGY INC              COM              93317Q105    12311   133427 SH       DEFINED 01             133427        0        0
WALTER INVT MGMT CORP          COM              93317W102     1016    63520 SH       DEFINED 01              63520        0        0
WEATHERFORD INTERNATIONAL LT   REG              H27013103    10264   647190 SH       DEFINED 01             647190        0        0
WEBMD CORP                     NOTE 3.125% 9/0  94769MAG0     9213  7000000 PRN      DEFINED 01            7000000        0        0
WELLPOINT INC                  COM              94973V107    14165   220019 SH       DEFINED 01             220019        0        0
WELLS FARGO & CO NEW           COM              949746101    28616   919545 SH       DEFINED 01             919545        0        0
WEST COAST BANCORP ORE NEW     COM              952145100     2294   889021 SH       DEFINED 01             889021        0        0
WESTAR ENERGY INC              COM              95709T100      830    37235 SH       DEFINED 01              37235        0        0
WHOLE FOODS MKT INC            COM              966837106     1556    43038 SH       DEFINED 01              43038        0        0
WILLBROS GROUP INC DEL         COM              969203108      480    40000 SH       DEFINED 01              40000        0        0
WILLIAMS COS INC DEL           COM              969457100    10815   468162 SH       DEFINED 01             468162        0        0
WIMM BILL DANN FOODS OJSC      SPONSORED ADR    97263M109      475    21200 SH       DEFINED 01              21200        0        0
WISCONSIN ENERGY CORP          COM              976657106     1396    28253 SH       DEFINED 01              28253        0        0
XCEL ENERGY INC                COM              98389B100     1462    68941 SH       DEFINED 01              68941        0        0
XEROX CORP                     COM              984121103      975   100000 SH       DEFINED 01             100000        0        0
XILINX INC                     COM              983919101      949    37232 SH       DEFINED 01              37232        0        0
XTO ENERGY INC                 COM              98385X106     3630    76940 SH       DEFINED 01              76940        0        0
YAHOO INC                      COM              984332106    10926   661007 SH       DEFINED 01             661007        0        0
YINGLI GREEN ENERGY HLDG CO    NOTE 12/1        98584BAA1     2225  2000000 PRN      DEFINED 01            2000000        0        0
YUM BRANDS INC                 COM              988498101     2878    75091 SH       DEFINED 01              75091        0        0
ZIMMER HLDGS INC               COM              98956P102     1954    33006 SH       DEFINED 01              33006        0        0