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

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: June 30, 2008

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     August 14, 2008

* GLG INC. ACTS AS A SUB-ADVISOR TO GLG PARTNERS LP IN RESPECT OF CERTAIN
SECURITIES LISTED IN THE INFORMATION TABLE.


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

Form13F Information Table Entry Total:     465

Form13F Information Table Value Total:     $3,325,500 (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      237     3400 SH       DEFINED 01               3400        0        0
ACACIA RESH CORP               ACACIA TCH COM   003881307     3824   908300 SH       DEFINED 01             908300        0        0
ACERGY S A                     SPONSORED ADR    00443E104    15177   691111 SH       DEFINED 01             691111        0        0
ADOBE SYS INC                  COM              00724F101      210     5200 SH       DEFINED 01               5200        0        0
AERCAP HOLDINGS NV             SHS              N00985106     1051    85000 SH       DEFINED 01              85000        0        0
AES CORP                       COM              00130H105    41693  2163608 SH       DEFINED 01            2163608        0        0
AFFILIATED COMPUTER SERVICES   CL A             008190100      210     4000 SH       DEFINED 01               4000        0        0
AFFORDABLE RESIDENTIAL CMNTY   NOTE 7.500% 8/1  00828UAB9    15134 14500000 PRN      DEFINED 01           14500000        0        0
AK STL HLDG CORP               COM              001547108     8842   134800 SH       DEFINED 01             134800        0        0
AKEENA SOLAR INC DE            COM              009720103      240   232242 SH       DEFINED 01             232242        0        0
ALBERTO CULVER CO NEW          COM              013078100      218     8390 SH       DEFINED 01               8390        0        0
ALCOA INC                      COM              013817101    22257   646267 SH       DEFINED 01             646267        0        0
ALCOA INC                      COM              013817101      755  1296200 SH  CALL DEFINED 01            1296200        0        0
ALLEGHENY ENERGY INC           COM              017361106     2174    43100 SH       DEFINED 01              43100        0        0
ALLERGAN INC                   COM              018490102     1308    25000 SH       DEFINED 01              25000        0        0
ALLERGAN INC                   NOTE 1.500% 4/0  018490AL6    15070 14200000 PRN      DEFINED 01           14200000        0        0
ALPHA NATURAL RESOURCES INC    COM              02076X102    16544   158600 SH       DEFINED 01             158600        0        0
ALTERA CORP                    COM              021441100      226    11006 SH       DEFINED 01              11006        0        0
ALTRIA GROUP INC               COM              02209S103      264    13100 SH       DEFINED 01              13100        0        0
AMAZON COM INC                 COM              023135106     1388    18856 SH       DEFINED 01              18856        0        0
AMERICA MOVIL SAB DE CV        SPON ADR L SHS   02364W105     9113   174314 SH       DEFINED 01             174314        0        0
AMERICAN CAPITAL AGENCY CORP   COM              02503X105     2624   160000 SH       DEFINED 01             160000        0        0
AMERICAN GREETINGS CORP        CL A             026375105      162    13000 SH       DEFINED 01              13000        0        0
AMERICAN OIL & GAS INC NEW     COM              028723104      300    80378 SH       DEFINED 01              80378        0        0
AMERICAN TOWER CORP            CL A             029912201    11121   274056 SH       DEFINED 01             274056        0        0
AMERICREDIT CORP               COM              03060R101      429   118100 SH  PUT  DEFINED 01             118100        0        0
AMERICREDIT CORP               NOTE 0.750% 9/1  03060RAP6     3175  5000000 PRN      DEFINED 01            5000000        0        0
AMGEN INC                      NOTE 0.375% 2/0  031162AQ3    18786 21500000 PRN      DEFINED 01           21500000        0        0
AMR CORP                       NOTE 4.500% 2/1  001765BB1     8085 11000000 PRN      DEFINED 01           11000000        0        0
ANADARKO PETE CORP             COM              032511107     9059   121647 SH       DEFINED 01             121647        0        0
ANHEUSER BUSCH COS INC         COM              035229103   137444  2218980 SH       DEFINED 01            2218980        0        0
ANHEUSER BUSCH COS INC         COM              035229103     1720   400000 SH  CALL DEFINED 01             400000        0        0
ANHEUSER BUSCH COS INC         COM              035229103      210   700000 SH  PUT  DEFINED 01             700000        0        0
APACHE CORP                    COM              037411105     9577    67395 SH       DEFINED 01              67395        0        0
APEX SILVER MINES LTD          NOTE 2.875% 3/1  03760XAB7     2949  6500000 PRN      DEFINED 01            6500000        0        0
APEX SILVER MINES LTD          NOTE 4.000% 9/1  03760XAD3     1113  2500000 PRN      DEFINED 01            2500000        0        0
APPLE INC                      COM              037833100      731   908500 SH  PUT  DEFINED 01             908500        0        0
ARCHER DANIELS MIDLAND CO      UNIT 99/99/9999  039483201    29729   685000 SH       DEFINED 01             685000        0        0
ARVINMERITOR INC               NOTE 4.625% 3/0  043353AF8     8675 10000000 PRN      DEFINED 01           10000000        0        0
ASM INTL NV                    NOTE 5.250% 5/1  00207DAE2    36209 23323000 PRN      DEFINED 01           23323000        0        0
ASSURED GUARANTY LTD           COM              G0585R106     6022   333800 SH       DEFINED 01             333800        0        0
ATHEROGENICS INC               NOTE 1.500% 2/0  047439AD6      200  2000000 PRN      DEFINED 01            2000000        0        0
AUTOZONE INC                   COM              053332102      231     1900 SH       DEFINED 01               1900        0        0
AVANEX CORP                    COM              05348W109        0   678336 SH       DEFINED 01             678336        0        0
AXCELIS TECHNOLOGIES INC       COM              054540109     3102   600000 SH       DEFINED 01             600000        0        0
BAKER HUGHES INC               COM              057224107     6607    74600 SH       DEFINED 01              74600        0        0
BARNES GROUP INC               NOTE 3.750% 8/0  067806AB5    12850 10000000 PRN      DEFINED 01           10000000        0        0
BARR PHARMACEUTICALS INC       COM              068306109      423    90000 SH  CALL DEFINED 01              90000        0        0
BARRICK GOLD CORP              COM              067901108    20643   445278 SH       DEFINED 01             445278        0        0
BARRICK GOLD CORP              COM              067901108     2720   400000 SH  CALL DEFINED 01             400000        0        0
BAXTER INTL INC                COM              071813109      270     4200 SH       DEFINED 01               4200        0        0
BB&T CORP                      COM              054937107      223     9300 SH       DEFINED 01               9300        0        0
BECTON DICKINSON & CO          COM              075887109      216     2600 SH       DEFINED 01               2600        0        0
BED BATH & BEYOND INC          COM              075896100       23    50000 SH  PUT  DEFINED 01              50000        0        0
BEST BUY INC                   SDCV 2.250% 1/1  086516AF8    23354 22268000 PRN      DEFINED 01           22268000        0        0
BIOFORM MEDICAL INC            COM              09065G107      864   225000 SH       DEFINED 01             225000        0        0
BIOMIMETIC THERAPEUTICS INC    COM              09064X101    16347  1379506 SH       DEFINED 01            1379506        0        0
BLOCK H & R INC                COM              093671105     4558   211300 SH       DEFINED 01             211300        0        0
BMB MUNAI INC                  COM              09656A105    10775 10000000 PRN      DEFINED 01           10000000        0        0
BOOKHAM INC                    COM              09856E105        0   450000 SH       DEFINED 01             450000        0        0
BOSTON PPTYS LTD PARTNERSHIP   NOTE 2.875% 2/1  10112RAK0    23556 25500000 PRN      DEFINED 01           25500000        0        0
BOSTON PRIVATE FINL HLDGS IN   NOTE 3.000% 7/1  101119AB1      440   500000 PRN      DEFINED 01             500000        0        0
BRISTOL MYERS SQUIBB CO        COM              110122108      227    10880 SH       DEFINED 01              10880        0        0
BROADCOM CORP                  CL A             111320107      345    12700 SH       DEFINED 01              12700        0        0
BROWN FORMAN CORP              CL B             115637209      226     3100 SH       DEFINED 01               3100        0        0
BUNGE LIMITED                  COM              G16962105     8192    77988 SH       DEFINED 01              77988        0        0
CA INC                         COM              12673P105     7804   338140 SH       DEFINED 01             338140        0        0
CANO PETE INC                  COM              137801106     1990   250000 SH       DEFINED 01             250000        0        0
CAPITALSOURCE INC              DBCV 4.000% 7/1  14055XAE2     6084  7500000 PRN      DEFINED 01            7500000        0        0
CARRIZO OIL & CO INC           NOTE 4.375% 6/0  144577AA1     5169  5000000 PRN      DEFINED 01            5000000        0        0
CELGENE CORP                   COM              151020104      222     3200 SH       DEFINED 01               3200        0        0
CEPHALON INC                   NOTE 6/1         156708AK5    11713 10000000 PRN      DEFINED 01           10000000        0        0
CHENIERE ENERGY INC            COM NEW          16411R208     2003   488553 SH       DEFINED 01             488553        0        0
CHENIERE ENERGY INC            NOTE 2.250% 8/0  16411RAE9     5000 10000000 PRN      DEFINED 01           10000000        0        0
CHESAPEAKE ENERGY CORP         COM              165167107     2021    30000 SH       DEFINED 01              30000        0        0
CHEVRON CORP NEW               COM              166764100    17388   175496 SH       DEFINED 01             175496        0        0
CHICAGO BRIDGE & IRON CO N V   N Y REGISTRY SH  167250109     5317   135303 SH       DEFINED 01             135303        0        0
CHINA MED TECHNOLOGIES INC     NOTE 3.500%11/1  169483AB0     3941  2500000 PRN      DEFINED 01            2500000        0        0
CIENA CORP                     COM NEW          171779309    13000   554351 SH       DEFINED 01             554351        0        0
CIRCUIT CITY STORE INC         COM              172737108      153    60000 SH       DEFINED 01              60000        0        0
CISCO SYS INC                  COM              17275R102    13574   586359 SH       DEFINED 01             586359        0        0
CIT GROUP INC                  COM              125581108     6445   729881 SH       DEFINED 01             729881        0        0
CITIGROUP INC                  COM              172967101       27    76500 SH  PUT  DEFINED 01              76500        0        0
CLEAR CHANNEL COMMUNICATIONS   COM              184502102    26400   750000 SH       DEFINED 01             750000        0        0
CMS ENERGY CORP                COM              125896100    17638  1182991 SH       DEFINED 01            1182991        0        0
COCA COLA ENTERPRISES INC      COM              191219104      225    13200 SH       DEFINED 01              13200        0        0
COEUR D ALENE MINES CORP IDA   COM              192108108      944   335861 SH       DEFINED 01             335861        0        0
COEUR D ALENE MINES CORP IDA   NOTE 1.250% 1/1  192108AQ1    10391 12500000 PRN      DEFINED 01           12500000        0        0
COEUR D ALENE MINES CORP IDA   NOTE 3.250% 3/1  192108AR9     1675  2000000 PRN      DEFINED 01            2000000        0        0
COLGATE PALMOLIVE CO           COM              194162103     6066    87411 SH       DEFINED 01              87411        0        0
COMCAST CORP NEW               CL A             20030N101      225    12000 SH       DEFINED 01              12000        0        0
COMPANHIA DE BEBIDAS DAS AME   SPON ADR PFD     20441W203    20399   331581 SH       DEFINED 01             331581        0        0
COMPUWARE CORP                 COM              205638109      277    28900 SH       DEFINED 01              28900        0        0
CONOCOPHILLIPS                 COM              20825C104    16698   176811 SH       DEFINED 01             176811        0        0
CONSOL ENERGY INC              COM              20854P109     9713    86762 SH       DEFINED 01              86762        0        0
CONSTELLATION ENERGY GROUP I   COM              210371100      248     3000 SH       DEFINED 01               3000        0        0
CONVERGYS CORP                 COM              212485106      239    16300 SH       DEFINED 01              16300        0        0
COOPER TIRE & RUBR CO          COM              216831107      201    25700 SH       DEFINED 01              25700        0        0
CORINTHIAN COLLEGES INC        COM              218868107    13441  1114500 SH       DEFINED 01            1114500        0        0
CORNING INC                    COM              219350105     1074    47512 SH       DEFINED 01              47512        0        0
COUNTRYWIDE FINANCIAL CORP     COM              222372104       34   121800 SH  PUT  DEFINED 01             121800        0        0
COUNTRYWIDE FINANCIAL CORP     DBCV 5/1         222372AP9     3805  4000000 PRN      DEFINED 01            4000000        0        0
CSG SYS INTL INC               COM              126349109      268    65000 SH  PUT  DEFINED 01              65000        0        0
CSG SYS INTL INC               NOTE 2.500% 6/1  126349AB5     2479  3000000 PRN      DEFINED 01            3000000        0        0
CSX CORP                       COM              126408103    85156  1397601 SH       DEFINED 01            1397601        0        0
CUMMINS INC                    COM              231021106      338     5200 SH       DEFINED 01               5200        0        0
CV THERAPEUTICS INC            NOTE 2.750% 5/1  126667AF1     4044  5000000 PRN      DEFINED 01            5000000        0        0
CVS CAREMARK CORPORATION       COM              126650100     3517    89709 SH       DEFINED 01              89709        0        0
CYTOKINETICS INC               COM              23282W100     5294  1419315 SH       DEFINED 01            1419315        0        0
D R HORTON INC                 COM              23331A109      243    21800 SH       DEFINED 01              21800        0        0
DANA HOLDING CORP              COM              235825205      158    30000 SH       DEFINED 01              30000        0        0
DANAHER CORP DEL               COM              235851102      209     2700 SH       DEFINED 01               2700        0        0
DARDEN RESTAURANTS INC         COM              237194105      279     8700 SH       DEFINED 01               8700        0        0
DEERE & CO                     COM              244199105     8576   116808 SH       DEFINED 01             116808        0        0
DELL INC                       COM              24702R101    20455   922237 SH       DEFINED 01             922237        0        0
DELTA PETE CORP                COM NEW          247907207      438    64000 SH  CALL DEFINED 01              64000        0        0
DELTA PETE CORP                NOTE 3.750% 5/0  247907AD0     6668  6000000 PRN      DEFINED 01            6000000        0        0
DEVON ENERGY CORP NEW          COM              25179M103      357     2900 SH       DEFINED 01               2900        0        0
DIAMOND OFFSHORE DRILLING IN   COM              25271C102     3493    25000 SH       DEFINED 01              25000        0        0
DIEBOLD INC                    COM              253651103    12558   350000 SH       DEFINED 01             350000        0        0
DILLARDS INC                   CL A             254067101      238    21900 SH       DEFINED 01              21900        0        0
DISCOVERY HOLDING CO           CL A COM         25468Y107      763    35700 SH       DEFINED 01              35700        0        0
DISNEY WALT CO                 COM DISNEY       254687106     7813   251617 SH       DEFINED 01             251617        0        0
DOLAN MEDIA CO                 COM              25659P402    11132   604363 SH       DEFINED 01             604363        0        0
DOMINION RES INC VA NEW        COM              25746U109     4541    95249 SH       DEFINED 01              95249        0        0
DONNELLEY R R & SONS CO        COM              257867101      208     7100 SH       DEFINED 01               7100        0        0
DOW CHEM CO                    COM              260543103      232     6600 SH       DEFINED 01               6600        0        0
DPL INC                        COM              233293109    20366  3500000 SH       DEFINED 01            3500000        0        0
DR PEPPER SNAPPLE GROUP INC    COM              26138E109     7132   346200 SH       DEFINED 01             346200        0        0
DREAMWORKS ANIMATION SKG INC   CL A             26153C103     5135   175000 SH       DEFINED 01             175000        0        0
DRS TECHNOLOGIES INC           COM              23330X100    33397   425000 SH       DEFINED 01             425000        0        0
DRYSHIPS INC                   SHS              Y2109Q101     6950    90277 SH       DEFINED 01              90277        0        0
DTE ENERGY CO                  COM              233331107      274     6400 SH       DEFINED 01               6400        0        0
E M C CORP MASS                COM              268648102     2425   165500 SH       DEFINED 01             165500        0        0
E M C CORP MASS                NOTE 1.750%12/0  268648AK8    16776 14700000 PRN      DEFINED 01           14700000        0        0
E TRADE FINANCIAL CORP         COM              269246104      120    37700 SH       DEFINED 01              37700        0        0
EASTMAN CHEM CO                COM              277432100      212     3100 SH       DEFINED 01               3100        0        0
EASTMAN KODAK CO               COM              277461109     2144   150000 SH       DEFINED 01             150000        0        0
EBAY INC                       COM              278642103     2918   105199 SH       DEFINED 01             105199        0        0
EDGE PETE CORP DEL             COM              279862106      780   150000 SH       DEFINED 01             150000        0        0
EDGE PETE CORP DEL             PFD CONV A       279862205     1560    50000 SH       DEFINED 01              50000        0        0
EL PASO CORP                   COM              28336L109     3660   169673 SH       DEFINED 01             169673        0        0
ELECTRONIC DATA SYS NEW        COM              285661104    31136  1262100 SH       DEFINED 01            1262100        0        0
ELIXIR GAMING TECHNOLOGIES I   COM              28661G105     1885  1625000 SH       DEFINED 01            1625000        0        0
ENDEAVOR INTL CORP INC         NOTE 6.000% 1/1  29257MAB6     3560  4000000 PRN      DEFINED 01            4000000        0        0
ENERGY CONVERSION DEVICES IN   COM              292659109      820    12020 SH       DEFINED 01              12020        0        0
ENERGY EAST CORP               COM              29266M109     1163    45650 SH       DEFINED 01              45650        0        0
ENERSIS S A                    SPONSORED ADR    29274F104      742    48400 SH       DEFINED 01              48400        0        0
ENSTAR GROUP LIMITED           SHS              G3075P101     1984    22000 SH       DEFINED 01              22000        0        0
ENZON PHARMACEUTICALS INC      COM              293904108     1800   250000 SH       DEFINED 01             250000        0        0
ENZON PHARMACEUTICALS INC      NOTE 4.000% 6/0  293904AE8     9363 10000000 PRN      DEFINED 01           10000000        0        0
EQUINIX INC                    COM NEW          29444U502     1654    19242 SH       DEFINED 01              19242        0        0
EQUITY RESIDENTIAL             SH BEN INT       29476L107      206     5400 SH       DEFINED 01               5400        0        0
ERP OPER LTD PARTNERSHIP       NOTE 3.850% 8/1  26884AAV5    16734 17500000 PRN      DEFINED 01           17500000        0        0
EVERGREEN SOLAR INC            COM              30033R108     1564   165111 SH       DEFINED 01             165111        0        0
EXCEL MARITIME CARRIERS LTD    COM              V3267N107      926    25046 SH       DEFINED 01              25046        0        0
EXELON CORP                    COM              30161N101    21490   237849 SH       DEFINED 01             237849        0        0
EXXON MOBIL CORP               COM              30231G102      306   130000 SH  PUT  DEFINED 01             130000        0        0
FEDERAL NATL MTG ASSN          COM              313586109      250    12767 SH       DEFINED 01              12767        0        0
FGX INTERNATIONAL HLDGS LTD    ORD SHS          G3396L102     4942   627900 SH       DEFINED 01             627900        0        0
FIDELITY NATIONAL FINANCIAL    CL A             31620R105     1301   100000 SH       DEFINED 01             100000        0        0
FIFTH THIRD BANCORP            COM              316773100     3714   350000 SH       DEFINED 01             350000        0        0
FIRST SOLAR INC                COM              336433107      708     2615 SH       DEFINED 01               2615        0        0
FISERV INC                     COM              337738108      249     5500 SH       DEFINED 01               5500        0        0
FORD MTR CO DEL                COM PAR $0.01    345370860      171    85300 SH  PUT  DEFINED 01              85300        0        0
FORD MTR CO DEL                NOTE 4.250%12/1  345370CF5    11843 16709000 PRN      DEFINED 01           16709000        0        0
FORTUNE BRANDS INC             COM              349631101      244     4500 SH       DEFINED 01               4500        0        0
FOSTER WHEELER LTD             SHS NEW          G36535139     9850   131900 SH       DEFINED 01             131900        0        0
FREEPORT-MCMORAN COPPER & GO   COM              35671D857    47711   412900 SH       DEFINED 01             412900        0        0
FREEPORT-MCMORAN COPPER & GO   COM              35671D857     1110   150000 SH  PUT  DEFINED 01             150000        0        0
FREEPORT-MCMORAN COPPER & GO   PFD CONV         35671D782     6210    37500 SH       DEFINED 01              37500        0        0
FRONTLINE LTD                  SHS              G3682E127     1376    20038 SH       DEFINED 01              20038        0        0
GAMESTOP CORP NEW              CL A             36467W109      238     5830 SH       DEFINED 01               5830        0        0
GANNETT CO INC                 FRNT 7/1         364725AG6    39950 40000000 PRN      DEFINED 01           40000000        0        0
GANNETT INC                    COM              364730101      252    12100 SH       DEFINED 01              12100        0        0
GENAERA CORP                   COM NEW          36867G209        0   300000 SH       DEFINED 01             300000        0        0
GENERAL CABLE CORP DEL NEW     COM              369300108     5688    93965 SH       DEFINED 01              93965        0        0
GENERAL ELECTRIC CO            COM              369604103      222     8168 SH       DEFINED 01               8168        0        0
GENERAL MLS INC                COM              370334104      207     3400 SH       DEFINED 01               3400        0        0
GENERAL MTRS CORP              DEB SR CONV B    370442733     6800   500000 SH       DEFINED 01             500000        0        0
GENERAL MTRS CORP              DEB SR CV C 33   370442717     6525   500000 SH       DEFINED 01             500000        0        0
GENTIUM S P A                  SPONSORED ADR    37250B104     1189   331231 SH       DEFINED 01             331231        0        0
GENZYME CORP                   COM              372917104     2007   226800 SH  CALL DEFINED 01             226800        0        0
GILEAD SCIENCES INC            COM              375558103      282     5400 SH       DEFINED 01               5400        0        0
GILEAD SCIENCES INC            NOTE 0.500% 5/0  375558AG8    15252 10750000 PRN      DEFINED 01           10750000        0        0
GLG PARTNERS INC               COM              37929X107     7870  1000000 SH       DEFINED 01            1000000        0        0
GLG PARTNERS INC               UNIT 12/28/2011  37929X206     3963   398300 SH       DEFINED 01             398300        0        0
GLOBAL BPO SVCS CORP           *W EXP 10/17/201 378981112      198   300000 SH       DEFINED 01             300000        0        0
GLOBAL BPO SVCS CORP           COM              378981104     2280   300000 SH       DEFINED 01             300000        0        0
GLOBAL CROSSING LTD            NOTE 5.000% 5/1  37932JAA1     9613 10000000 PRN      DEFINED 01           10000000        0        0
GLOBAL INDS LTD                COM              379336100     1494    85344 SH       DEFINED 01              85344        0        0
GLOBAL SOURCES LTD             ORD              G39300101      197    13794 SH       DEFINED 01              13794        0        0
GLOBALSTAR INC                 COM              378973408     3990  1400000 SH       DEFINED 01            1400000        0        0
GOLDCORP INC NEW               COM              380956409    31773   659738 SH       DEFINED 01             659738        0        0
GOLDMAN SACHS GROUP INC        COM              38141G104    18921   107915 SH       DEFINED 01             107915        0        0
GOODYEAR TIRE & RUBR CO        COM              382550101      254    14100 SH       DEFINED 01              14100        0        0
GOOGLE INC                     CL A             38259P508    10130    18945 SH       DEFINED 01              18945        0        0
GRANAHAN MCCOURT ACQ CORP      *W EXP 10/18/201 385034111      261   724000 SH       DEFINED 01             724000        0        0
GRANAHAN MCCOURT ACQ CORP      COM              385034103     5840   717500 SH       DEFINED 01             717500        0        0
GRANAHAN MCCOURT ACQ CORP      UNIT 10/18/2010  385034202     5419   637500 SH       DEFINED 01             637500        0        0
GREENLIGHT CAPITAL RE LTD      CLASS A          G4095J109     1748    75000 SH       DEFINED 01              75000        0        0
GREY WOLF INC                  FRNT 4/0         397888AF5    11530  8000000 PRN      DEFINED 01            8000000        0        0
GRUPO TELEVISA SA DE CV        SP ADR REP ORD   40049J206    20372   879607 SH       DEFINED 01             879607        0        0
HANSEN NAT CORP                COM              411310105    12732   453092 SH       DEFINED 01             453092        0        0
HARLEY DAVIDSON INC            COM              412822108      280     7600 SH       DEFINED 01               7600        0        0
HARMONY GOLD MNG LTD           SPONSORED ADR    413216300      792    64000 SH       DEFINED 01              64000        0        0
HARMONY GOLD MNG LTD           SPONSORED ADR    413216300       85  3570400 SH  PUT  DEFINED 01            3570400        0        0
HECKMANN CORP                  *W EXP 11/09/201 422680116     5250  1875000 SH       DEFINED 01            1875000        0        0
HECKMANN CORP                  COM              422680108     4812   537039 SH       DEFINED 01             537039        0        0
HERCULES INC                   COM              427056106      224    13300 SH       DEFINED 01              13300        0        0
HESS CORP                      COM              42809H107     1167    50000 SH  CALL DEFINED 01              50000        0        0
HESS CORP                      COM              42809H107       53    39500 SH  PUT  DEFINED 01              39500        0        0
HILLTOP HOLDINGS INC           COM              432748101     2866   277200 SH       DEFINED 01             277200        0        0
HOST HOTELS & RESORTS INC      COM              44107P104      138    10200 SH       DEFINED 01              10200        0        0
HUNTINGTON BANCSHARES INC      COM              446150104      170    28200 SH       DEFINED 01              28200        0        0
HUNTSMAN CORP                  COM              447011107     8912   800000 SH       DEFINED 01             800000        0        0
HUNTSMAN CORP                  COM              447011107      350   500000 SH  CALL DEFINED 01             500000        0        0
HUNTSMAN CORP                  COM              447011107      225   500000 SH  PUT  DEFINED 01             500000        0        0
IAC INTERACTIVECORP            COM NEW          44919P300      363    18801 SH       DEFINED 01              18801        0        0
IAMGOLD CORP                   COM              450913108    10202  1599000 SH       DEFINED 01            1599000        0        0
IMCLONE SYS INC                COM              45245W109     3007    75008 SH       DEFINED 01              75008        0        0
INCYTE CORP                    COM              45337C102     6332   836500 SH       DEFINED 01             836500        0        0
INTEL CORP                     COM              458140100     4408   204335 SH       DEFINED 01             204335        0        0
INTEL CORP                     COM              458140100      138   600000 SH  CALL DEFINED 01             600000        0        0
INTEL CORP                     SDCV 2.950%12/1  458140AD2     6834  7000000 PRN      DEFINED 01            7000000        0        0
INTERACTIVE BROKERS GROUP IN   COM              45841N107      932    29200 SH       DEFINED 01              29200        0        0
INTERNATIONAL BUSINESS MACHS   COM              459200101      274     2301 SH       DEFINED 01               2301        0        0
INTERNATIONAL BUSINESS MACHS   COM              459200101      818   352000 SH  PUT  DEFINED 01             352000        0        0
INTERNATIONAL COAL GRP INC N   NOTE 9.000% 8/0  45928HAD8     1117   500000 PRN      DEFINED 01             500000        0        0
INTERPUBLIC GROUP COS INC      COM              460690100      201    24100 SH       DEFINED 01              24100        0        0
INTREPID POTASH INC            COM              46121Y102     7300   115000 SH       DEFINED 01             115000        0        0
INVITROGEN CORP                COM              46185R100      160   200000 SH  CALL DEFINED 01             200000        0        0
ISHARES TR                     RUSSELL 2000     464287655      377  1000000 SH  CALL DEFINED 01            1000000        0        0
ISHARES TR                     RUSSELL 2000     464287655     2700   500000 SH  PUT  DEFINED 01             500000        0        0
ISHARES TR                     S&P GL UTILITI   464288711      222     3421 SH       DEFINED 01               3421        0        0
ISIS PHARMACEUTICALS INC       COM              464330109      694    50000 SH       DEFINED 01              50000        0        0
JA SOLAR HOLDINGS CO LTD       NOTE 4.500% 5/1  466090AA5     8738 10000000 PRN      DEFINED 01           10000000        0        0
JA SOLAR HOLDINGS CO LTD       SPON ADR         466090107     1295    82001 SH       DEFINED 01              82001        0        0
JACKSON HEWITT TAX SVCS INC    COM              468202106     1232   100000 SH       DEFINED 01             100000        0        0
JDS UNIPHASE CORP              NOTE 11/1        46612JAB7     4900  5000000 PRN      DEFINED 01            5000000        0        0
JETBLUE AIRWAYS CORP           DBCV 3.750% 3/1  477143AC5     3088  5000000 PRN      DEFINED 01            5000000        0        0
JETBLUE AIRWAYS CORP           DBCV 5.500%10/1  477143AE1     5213  5000000 PRN      DEFINED 01            5000000        0        0
KAISER ALUMINUM CORP           COM PAR $0.01    483007704     6284   119200 SH       DEFINED 01             119200        0        0
KELLOGG CO                     COM              487836108      369   300000 SH  PUT  DEFINED 01             300000        0        0
KEYCORP NEW                    COM              493267108      130    11400 SH       DEFINED 01              11400        0        0
KINETIC CONCEPTS INC           COM NEW          49460W208    11882   295800 SH       DEFINED 01             295800        0        0
KINROSS GOLD CORP              NOTE 1.750% 3/1  496902AB3    10046  9000000 PRN      DEFINED 01            9000000        0        0
KLA-TENCOR CORP                COM              482480100      282     6800 SH       DEFINED 01               6800        0        0
KOHLS CORP                     COM              500255104     3076    75000 SH       DEFINED 01              75000        0        0
KOHLS CORP                     COM              500255104       40   100000 SH  CALL DEFINED 01             100000        0        0
LAUDER ESTEE COS INC           CL A             518439104      258     5600 SH       DEFINED 01               5600        0        0
LCA-VISION INC                 COM PAR $.001    501803308      348    75000 SH       DEFINED 01              75000        0        0
LEHMAN BROS HLDGS INC          7.25%CONV SR P   52523J453    11547    14000 SH       DEFINED 01              14000        0        0
LEHMAN BROS HLDGS INC          COM              524908100      237    11328 SH       DEFINED 01              11328        0        0
LEHMAN BROS HLDGS INC          COM              524908100       17    16000 SH  PUT  DEFINED 01              16000        0        0
LENNAR CORP                    CL A             526057104     3683   311338 SH       DEFINED 01             311338        0        0
LEVEL 3 COMMUNICATIONS INC     NOTE 3.500% 6/1  52729NBK5     2031  2500000 PRN      DEFINED 01            2500000        0        0
LIBERTY ACQUISITION HLDGS CO   UNIT 99/99/9999  53015Y206    74304  7110477 SH       DEFINED 01            7110477        0        0
LIBERTY MEDIA CORP             DEB 3.500% 1/1   530715AN1    12960 27000000 PRN      DEFINED 01           27000000        0        0
LIBERTY MEDIA CORP NEW         ENT COM SER A    53071M500     1041    43800 SH       DEFINED 01              43800        0        0
LINN ENERGY LLC                UNIT LTD LIAB    536020100      348    14000 SH       DEFINED 01              14000        0        0
LIONS GATE ENTMNT CORP         COM NEW          535919203     2621   260000 SH       DEFINED 01             260000        0        0
LIZ CLAIBORNE INC              COM              539320101      207    14800 SH       DEFINED 01              14800        0        0
LOCKHEED MARTIN CORP           COM              539830109      212     2100 SH       DEFINED 01               2100        0        0
LORILLARD INC                  COM              544147101    17806   261860 SH       DEFINED 01             261860        0        0
LOUISIANA PAC CORP             COM              546347105      252    29200 SH       DEFINED 01              29200        0        0
LUFKIN INDS INC                COM              549764108      844    10000 SH       DEFINED 01              10000        0        0
MAGNA ENTMT CORP               NOTE 7.250%12/1  559211AC1    34863 63388000 PRN      DEFINED 01           63388000        0        0
MANITOWOC INC                  COM              563571108     6308   200000 SH       DEFINED 01             200000        0        0
MARKET VECTORS ETF TR          GOLD MINER ETF   57060U100      209     4217 SH       DEFINED 01               4217        0        0
MARKWEST ENERGY PARTNERS L P   UNIT LTD PARTN   570759100      356    10000 SH       DEFINED 01              10000        0        0
MASIMO CORP                    COM              574795100     8577   249200 SH       DEFINED 01             249200        0        0
MBIA INC                       COM              55262C100       92    21600 SH       DEFINED 01              21600        0        0
MCGRAW HILL COS INC            COM              580645109      292     7200 SH       DEFINED 01               7200        0        0
MCMORAN EXPLORATION CO         PFD MAND CNV     582411500     9145    50000 SH       DEFINED 01              50000        0        0
MEDCO HEALTH SOLUTIONS INC     COM              58405U102      253     5400 SH       DEFINED 01               5400        0        0
MEDTRONIC INC                  NOTE 1.500% 4/1  585055AL0    52205 49250000 PRN      DEFINED 01           49250000        0        0
MELCO PBL ENTMNT LTD           ADR              585464100      932   100000 SH       DEFINED 01             100000        0        0
MENTOR CORP MINN               COM              587188103     3855   140900 SH       DEFINED 01             140900        0        0
MERRILL LYNCH & CO INC         COM              590188108        2   120000 SH  CALL DEFINED 01             120000        0        0
MGIC INVT CORP WIS             COM              552848103      110    16800 SH       DEFINED 01              16800        0        0
MICROSOFT CORP                 COM              594918104     7808   290583 SH       DEFINED 01             290583        0        0
MILLIPORE CORP                 NOTE 3.750% 6/0  601073AD1     7079  7000000 PRN      DEFINED 01            7000000        0        0
MINDRAY MEDICAL INTL LTD       SPON ADR         602675100      208     5623 SH       DEFINED 01               5623        0        0
MOBILE TELESYSTEMS OJSC        SPONSORED ADR    607409109    28690   382227 SH       DEFINED 01             382227        0        0
MOLSON COORS BREWING CO        CL B             60871R209     8019   145192 SH       DEFINED 01             145192        0        0
MONSANTO CO NEW                COM              61166W101      338     2700 SH       DEFINED 01               2700        0        0
MORGAN STANLEY                 COM NEW          617446448      322     8795 SH       DEFINED 01               8795        0        0
MOSAIC CO                      COM              61945A107    19077   135000 SH       DEFINED 01             135000        0        0
MOTOROLA INC                   COM              620076109      161    21900 SH       DEFINED 01              21900        0        0
MSCI INC                       CL A             55354G100    12483   368674 SH       DEFINED 01             368674        0        0
MURPHY OIL CORP                COM              626717102    24731   245029 SH       DEFINED 01             245029        0        0
MYLAN INC                      PFD CONV         628530206     6753     7750 SH       DEFINED 01               7750        0        0
NABORS INDS INC                NOTE 0.940% 5/1  629568AP1    26191 21250000 PRN      DEFINED 01           21250000        0        0
NATIONAL CITY CORP             COM              635405103     4727  1027500 SH       DEFINED 01            1027500        0        0
NATIONAL CITY CORP             NOTE 4.000% 2/0  635405AW3    10094 12500000 PRN      DEFINED 01           12500000        0        0
NATIONAL FINL PARTNERS CORP    NOTE 0.750% 2/0  63607PAA7     1703  2500000 PRN      DEFINED 01            2500000        0        0
NATIONAL RETAIL PROPERTIES I   NOTE 5.125% 6/1  637417AC0     4838  5000000 PRN      DEFINED 01            5000000        0        0
NATIONWIDE FINL SVCS INC       CL A             638612101    20438   425000 SH       DEFINED 01             425000        0        0
NATIONWIDE FINL SVCS INC       CL A             638612101        4   300000 SH  CALL DEFINED 01             300000        0        0
NATIONWIDE HEALTH PPTYS INC    PFD CV B 7.75%   638620302     7155    50000 SH       DEFINED 01              50000        0        0
NAVIOS MARITIME HOLDINGS INC   COM              Y62196103      470    50000 SH       DEFINED 01              50000        0        0
NEW YORK TIMES CO              CL A             650111107      194    12400 SH       DEFINED 01              12400        0        0
NEWMONT MINING CORP            COM              651639106    50812   952062 SH       DEFINED 01             952062        0        0
NEWMONT MINING CORP            COM              651639106     1120   200000 SH  CALL DEFINED 01             200000        0        0
NEWS CORP                      CL A             65248E104     4608   310544 SH       DEFINED 01             310544        0        0
NICOR INC                      COM              654086107      226     5300 SH       DEFINED 01               5300        0        0
NII HLDGS INC                  NOTE 2.750% 8/1  62913FAF9    11638 10000000 PRN      DEFINED 01           10000000        0        0
NII HLDGS INC                  NOTE 3.125% 6/1  62913FAJ1     3365  4000000 PRN      DEFINED 01            4000000        0        0
NORFOLK SOUTHERN CORP          COM              655844108      226     3700 SH       DEFINED 01               3700        0        0
NORTHROP GRUMMAN CORP          COM              666807102      233     3500 SH       DEFINED 01               3500        0        0
NPS PHARMACEUTICALS INC        COM              62936P103    10950  2411801 SH       DEFINED 01            2411801        0        0
NRG ENERGY INC                 COM NEW          629377508    17302   399315 SH       DEFINED 01             399315        0        0
NUCOR CORP                     COM              670346105    13845   191679 SH       DEFINED 01             191679        0        0
NYMEX HOLDINGS INC             COM              62948N104    22127   275000 SH       DEFINED 01             275000        0        0
NYSE EURONEXT                  COM              629491101      203     4100 SH       DEFINED 01               4100        0        0
O REILLY AUTOMOTIVE INC        COM              686091109    13704   595300 SH       DEFINED 01             595300        0        0
ODYSSEY MARINE EXPLORATION I   COM              676118102    16591  4027001 SH       DEFINED 01            4027001        0        0
OFFICE DEPOT INC               COM              676220106      165    14800 SH       DEFINED 01              14800        0        0
OFFICEMAX INC DEL              COM              67622P101      220    15300 SH       DEFINED 01              15300        0        0
OIL SVC HOLDRS TR              DEPOSTRY RCPT    678002106     1034   125000 SH  PUT  DEFINED 01             125000        0        0
OMNICARE INC                   DBCV 3.250%12/1  681904AL2    10483 14000000 PRN      DEFINED 01           14000000        0        0
OMNICOM GROUP INC              NOTE 2/0         681919AK2    49748 50250000 PRN      DEFINED 01           50250000        0        0
OPEN JT STK CO-VIMPEL COMMUN   SPONSORED ADR    68370R109    13567   485740 SH       DEFINED 01             485740        0        0
ORACLE CORP                    COM              68389X105      230    10800 SH       DEFINED 01              10800        0        0
ORIENT-EXPRESS HOTELS LTD      CL A             G67743107     2159    50908 SH       DEFINED 01              50908        0        0
OSCIENT PHARMACEUTICALS CORP   NOTE 3.500% 4/1  68812RAC9     3645  9000000 PRN      DEFINED 01            9000000        0        0
OVERSEAS SHIPHOLDING GROUP I   COM              690368105     1587    20000 SH       DEFINED 01              20000        0        0
PAN AMERICAN SILVER CORP       COM              697900108     1119    30965 SH       DEFINED 01              30965        0        0
PARKER HANNIFIN CORP           COM              701094104      260     3600 SH       DEFINED 01               3600        0        0
PATRIOT COAL CORP              COM              70336T104     6898    45250 SH       DEFINED 01              45250        0        0
PEABODY ENERGY CORP            SDCV 4.750%12/1  704549AG9    16313 10000000 PRN      DEFINED 01           10000000        0        0
PENFORD CORP                   COM              707051108     2779   185000 SH       DEFINED 01             185000        0        0
PENN VA CORP                   NOTE 4.500%11/1  707882AA4    15513 10000000 PRN      DEFINED 01           10000000        0        0
PEPSICO INC                    COM              713448108      316     4900 SH       DEFINED 01               4900        0        0
PERKINELMER INC                COM              714046109      228     8300 SH       DEFINED 01               8300        0        0
PETROHAWK ENERGY CORP          COM              716495106     4080    85000 SH       DEFINED 01              85000        0        0
PETROLEO BRASILEIRO SA PETRO   SPONSORED ADR    71654V408     5480    78019 SH       DEFINED 01              78019        0        0
PFIZER INC                     COM              717081103     7092   400000 SH       DEFINED 01             400000        0        0
PHH CORP                       COM NEW          693320202     1829   115000 SH       DEFINED 01             115000        0        0
PINNACLE WEST CAP CORP         COM              723484101      232     7400 SH       DEFINED 01               7400        0        0
PLACER DOME INC                DBCV 2.750%10/1  725906AK7    19175 10000000 PRN      DEFINED 01           10000000        0        0
PNM RES INC                    COM              69349H107      601    50400 SH       DEFINED 01              50400        0        0
POLO RALPH LAUREN CORP         CL A             731572103      213     3400 SH       DEFINED 01               3400        0        0
POTASH CORP SASK INC           COM              73755L107    12304    55252 SH       DEFINED 01              55252        0        0
POWER-ONE INC                  COM              739308104      184    96600 SH       DEFINED 01              96600        0        0
PPL CORP                       COM              69351T106      239     4500 SH       DEFINED 01               4500        0        0
PRAXAIR INC                    COM              74005P104      283     3000 SH       DEFINED 01               3000        0        0
PRECISION CASTPARTS CORP       COM              740189105     1320    13400 SH       DEFINED 01              13400        0        0
PRICE T ROWE GROUP INC         COM              74144T108      558    10200 SH       DEFINED 01              10200        0        0
PRICELINE COM INC              COM NEW          741503403     3461    30000 SH       DEFINED 01              30000        0        0
PROGENICS PHARMACEUTICALS IN   COM              743187106     1871   116600 SH       DEFINED 01             116600        0        0
PROGRESS ENERGY INC            COM              743263105      246     5900 SH       DEFINED 01               5900        0        0
PROLOGIS                       NOTE 1.875%11/1  743410AR3    18356 21500000 PRN      DEFINED 01           21500000        0        0
PROSHARES TR                   BASIC MTRL PRO   74347R651     1990    67400 SH       DEFINED 01              67400        0        0
PRUDENTIAL FINL INC            COM              744320102      241     3900 SH       DEFINED 01               3900        0        0
PUBLIC SVC ENTERPRISE GROUP    COM              744573106     3468    74300 SH       DEFINED 01              74300        0        0
QIMONDA AG                     SPONSORED ADR    746904101     1572   666295 SH       DEFINED 01             666295        0        0
QUALCOMM INC                   COM              747525103    13971   304900 SH       DEFINED 01             304900        0        0
QUEST DIAGNOSTICS INC          COM              74834L100      238     5000 SH       DEFINED 01               5000        0        0
QWEST COMMUNICATIONS INTL IN   NOTE 3.500%11/1  749121BY4     9750 10000000 PRN      DEFINED 01           10000000        0        0
R H DONNELLEY CORP             COM NEW          74955W307      118    47466 SH       DEFINED 01              47466        0        0
RALCORP HLDGS INC NEW          COM              751028101       53    25000 SH  PUT  DEFINED 01              25000        0        0
RAYTHEON CO                    COM NEW          755111507      248     4300 SH       DEFINED 01               4300        0        0
RCN CORP                       COM NEW          749361200     2288   205000 SH       DEFINED 01             205000        0        0
RECKSON OPER PARTNERSHIP L P   DEB 4.000% 6/1   75621LAJ3    10810 11500000 PRN      DEFINED 01           11500000        0        0
REGAL ENTMT GROUP              CL A             758766109     8652   566979 SH       DEFINED 01             566979        0        0
RENESOLA LTD                   SPONS ADS        75971T103      268    16984 SH       DEFINED 01              16984        0        0
RESEARCH IN MOTION LTD         COM              760975102    74385   603429 SH       DEFINED 01             603429        0        0
RESEARCH IN MOTION LTD         COM              760975102       51    75000 SH  CALL DEFINED 01              75000        0        0
RF MICRODEVICES INC            NOTE 1.000% 4/1  749941AJ9     7860 12000000 PRN      DEFINED 01           12000000        0        0
ROCKWELL AUTOMATION INC        COM              773903109      246     5665 SH       DEFINED 01               5665        0        0
SAFEWAY INC                    COM NEW          786514208      214     7400 SH       DEFINED 01               7400        0        0
SANMINA SCI CORP               COM              800907107      323   250000 SH       DEFINED 01             250000        0        0
SCHERING PLOUGH CORP           PFD CONV MAN07   806605705     8862    46400 SH       DEFINED 01              46400        0        0
SCHLUMBERGER LTD               COM              806857108      319     2900 SH       DEFINED 01               2900        0        0
SCHLUMBERGER LTD               DBCV 2.125% 6/0  806857AD0    20636  7500000 PRN      DEFINED 01            7500000        0        0
SCHWAB CHARLES CORP NEW        COM              808513105      244    11700 SH       DEFINED 01              11700        0        0
SEAGATE TECHNOLOGY             SHS              G7945J104     4504   231792 SH       DEFINED 01             231792        0        0
SEMPRA ENERGY                  COM              816851109      281     4862 SH       DEFINED 01               4862        0        0
SEPRACOR INC                   NOTE 10/1        817315AW4    27984 30500000 PRN      DEFINED 01           30500000        0        0
SIGMA ALDRICH CORP             COM              826552101      253     4700 SH       DEFINED 01               4700        0        0
SILVER STD RES INC             COM              82823L106     1020    34600 SH       DEFINED 01              34600        0        0
SILVER WHEATON CORP            COM              828336107     1140    75600 SH       DEFINED 01              75600        0        0
SIMON PPTY GROUP INC NEW       COM              828806109      241     2700 SH       DEFINED 01               2700        0        0
SINA CORP                      ORD              G81477104      233     5453 SH       DEFINED 01               5453        0        0
SINCLAIR BROADCAST GROUP INC   NOTE 3.000% 5/1  829226AW9    27488 30000000 PRN      DEFINED 01           30000000        0        0
SIRF TECHNOLOGY HLDGS INC      COM              82967H101     1135   269513 SH       DEFINED 01             269513        0        0
SLM CORP                       COM              78442P106      323    16700 SH       DEFINED 01              16700        0        0
SMITH INTL INC                 COM              832110100     4273    50000 SH       DEFINED 01              50000        0        0
SOLARFUN POWER HOLDINGS CO L   SPONSORED ADR    83415U108     1428    88500 SH       DEFINED 01              88500        0        0
SOUTHWESTERN ENERGY CO         COM              845467109    12038   248052 SH       DEFINED 01             248052        0        0
SOVEREIGN BANCORP INC          COM              845905108      303    39800 SH       DEFINED 01              39800        0        0
SPDR TR                        UNIT SER 1       78462F103        4   100000 SH  CALL DEFINED 01             100000        0        0
SPDR TR                        UNIT SER 1       78462F103     2415   280000 SH  PUT  DEFINED 01             280000        0        0
SPRINT NEXTEL CORP             COM SER 1        852061100      224    25390 SH       DEFINED 01              25390        0        0
STAGE STORES INC               COM NEW          85254C305      705    58900 SH       DEFINED 01              58900        0        0
STARBUCKS CORP                 COM              855244109      225    14400 SH       DEFINED 01              14400        0        0
STONELEIGH PARTNERS ACQUS CO   COM              861923100      504  1120000 SH       DEFINED 01            1120000        0        0
STORM CAT ENERGY CORP          COM              862168101      963   822682 SH       DEFINED 01             822682        0        0
SUNPOWER CORP                  COM CL A         867652109     4103    61564 SH       DEFINED 01              61564        0        0
SUNPOWER CORP                  DBCV 0.750% 8/0  867652AB5     8081  7500000 PRN      DEFINED 01            7500000        0        0
SYMANTEC CORP                  NOTE 0.750% 6/1  871503AD0    11056  9500000 PRN      DEFINED 01            9500000        0        0
SYSCO CORP                     COM              871829107      209     7600 SH       DEFINED 01               7600        0        0
TELECOM ARGENTINA S A          SPON ADR REP B   879273209     2453   170342 SH       DEFINED 01             170342        0        0
TEMPLE INLAND INC              COM              879868107      240    21300 SH       DEFINED 01              21300        0        0
TERRA INDS INC                 COM              880915103     6516   130000 SH       DEFINED 01             130000        0        0
TESORO CORP                    COM              881609101      581    30000 SH       DEFINED 01              30000        0        0
TEVA PHARMACEUTICAL INDS LTD   ADR              881624209     1650   330000 SH  CALL DEFINED 01             330000        0        0
TEXAS INSTRS INC               COM              882508104     2704    97830 SH       DEFINED 01              97830        0        0
TEXTRON INC                    COM              883203101      205     4200 SH       DEFINED 01               4200        0        0
THERAVANCE INC                 NOTE 3.000% 1/1  88338TAA2     2880  4000000 PRN      DEFINED 01            4000000        0        0
TITAN INTL INC ILL             COM              88830M102     9715   272600 SH       DEFINED 01             272600        0        0
TIVO INC                       COM              888706108     1827   300000 SH       DEFINED 01             300000        0        0
TRANS LUX CORP                 COM              893247106      121    33250 SH       DEFINED 01              33250        0        0
TRANSOCEAN SEDCO FOREX INC     NOTE 1.625%12/1  893830AU3    65468 58000000 PRN      DEFINED 01           58000000        0        0
TREX INC                       NOTE 6.000% 7/0  89531PAA3     1906  2500000 PRN      DEFINED 01            2500000        0        0
TRIAN ACQUISITION I CORP       COM              89582E108    30640  4904000 SH       DEFINED 01            4904000        0        0
TRINA SOLAR LIMITED            SPON ADR         89628E104     1164    39758 SH       DEFINED 01              39758        0        0
TRINITY INDS INC               COM              896522109     8682   256110 SH       DEFINED 01             256110        0        0
TRIZETTO GROUP INC             NOTE 1.125% 4/1  896882AD9    19570 17975000 PRN      DEFINED 01           17975000        0        0
TYSON FOODS INC                CL A             902494103     2779   193520 SH       DEFINED 01             193520        0        0
UAL CORP                       DBCV 5.000% 2/0  902549AE4     2618  6000000 PRN      DEFINED 01            6000000        0        0
UBS AG                         SHS NEW          H89231338     4269  2500000 PRN      DEFINED 01            2500000        0        0
ULTRA PETROLEUM CORP           COM              903914109     3983    40400 SH       DEFINED 01              40400        0        0
UNIBANCO-UNIAO DE BANCOS BRA   GDR REP PFD UT   90458E107    18734   149935 SH       DEFINED 01             149935        0        0
UNISYS CORP                    COM              909214108      231    60100 SH       DEFINED 01              60100        0        0
UNITED DOMINION REALTY TR IN   NOTE 3.625% 9/1  910197AM4    12386 13500000 PRN      DEFINED 01           13500000        0        0
UNITED PANAM FINANCIAL CP      COM              911301109      304   126600 SH       DEFINED 01             126600        0        0
UNITED RENTALS NORTH AMER IN   NOTE 1.875%10/1  911365AH7     9124  9000000 PRN      DEFINED 01            9000000        0        0
UNITED STATES STL CORP NEW     COM              912909108    44009   250977 SH       DEFINED 01             250977        0        0
UNITEDHEALTH GROUP INC         COM              91324P102      220     8600 SH       DEFINED 01               8600        0        0
USEC INC                       NOTE 3.000%10/0  90333EAC2    11625 15000000 PRN      DEFINED 01           15000000        0        0
UST INC                        COM              902911106      216     3900 SH       DEFINED 01               3900        0        0
VALE CAP LTD                   NT RIO P VALE    91912C307     9692   193680 SH       DEFINED 01             193680        0        0
VALERO ENERGY CORP NEW         COM              91913Y100    14179   351131 SH       DEFINED 01             351131        0        0
VIACOM INC NEW                 CL B             92553P201     5321   175195 SH       DEFINED 01             175195        0        0
VIRGIN MEDIA INC               COM              92769L101   115217  8917697 SH       DEFINED 01            8917697        0        0
VISA INC                       COM CL A         92826C839     1311    16100 SH       DEFINED 01              16100        0        0
VISHAY INTERTECHNOLOGY INC     NOTE 3.625% 8/0  928298AF5    15000 15000000 PRN      DEFINED 01           15000000        0        0
VIVO PARTICIPACOES S A         SPON ADR PFD     92855S101      247    38897 SH       DEFINED 01              38897        0        0
VORNADO RLTY TR                DBCV 2.850% 4/0  929042AC3    26513 30000000 PRN      DEFINED 01           30000000        0        0
VORNADO RLTY TR                SH BEN INT       929042109      213     2400 SH       DEFINED 01               2400        0        0
W-H ENERGY SVCS INC            COM              92925E108    29223   300000 SH       DEFINED 01             300000        0        0
WACHOVIA CORP NEW              CONV7.5%PFD CL A 929903219    10870    12000 SH       DEFINED 01              12000        0        0
WAL MART STORES INC            COM              931142103    12854   225398 SH       DEFINED 01             225398        0        0
WATERS CORP                    COM              941848103      236     3600 SH       DEFINED 01               3600        0        0
WEATHERFORD INTERNATIONAL LT   COM              G95089101      405     8400 SH       DEFINED 01               8400        0        0
WEBMD CORP                     NOTE 1.750% 6/1  94769MAE5    13725 15000000 PRN      DEFINED 01           15000000        0        0
WENDYS INTL INC                COM              950590109      294    10700 SH       DEFINED 01              10700        0        0
WESCO INTL INC                 NOTE 1.750%11/1  95082PAG0     5871  7000000 PRN      DEFINED 01            7000000        0        0
WEST PHARMACEUTICAL SVSC INC   SDCV 4.000% 3/1  955306AA3     2854  3000000 PRN      DEFINED 01            3000000        0        0
WESTERN UN CO                  COM              959802109      497    20000 SH       DEFINED 01              20000        0        0
WHIRLPOOL CORP                 COM              963320106      240     3935 SH       DEFINED 01               3935        0        0
WHOLE FOODS MKT INC            COM              966837106      213     9000 SH       DEFINED 01               9000        0        0
WILLBROS GROUP INC             COM              969199108    33430   767793 SH       DEFINED 01             767793        0        0
WILLIAMS COS INC DEL           COM              969457100     1995    50000 SH       DEFINED 01              50000        0        0
WRIGLEY WM JR CO               COM              982526105      268     3450 SH       DEFINED 01               3450        0        0
XCEL ENERGY INC                COM              98389B100      230    11300 SH       DEFINED 01              11300        0        0
XL CAP LTD                     CL A             G98255105      202     9700 SH       DEFINED 01               9700        0        0
XM SATELLITE RADIO HLDGS INC   NOTE 1.750%12/0  983759AC5     4825  5000000 PRN      DEFINED 01            5000000        0        0
XTO ENERGY INC                 COM              98385X106      320     4625 SH       DEFINED 01               4625        0        0
YAMANA GOLD INC                COM              98462Y100     5044   310372 SH       DEFINED 01             310372        0        0
ZBB ENERGY CORPORATION         COM              98876R204     6766  1712943 SH       DEFINED 01            1712943        0        0
ZIMMER HLDGS INC               COM              98956P102    19065   281688 SH       DEFINED 01             281688        0        0