The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AbbVie Inc. Common 00287Y109 4,221 47,500 SH   DFND 2 47,500 0 0
Abbvie Inc. Common 00287Y109 444 5,000 SH   DFND 1 0 5,000 0
ACADIA Pharmaceuticals Inc. Common 004225108 21 550 SH   DFND 2 550 0 0
Aimmune Therapeutics, Inc. Common 00900T107 50 2,000 SH   DFND 2 2,000 0 0
Alimera Sciences, Inc. Common 016259103 269 199,000 SH   DFND 2 199,000 0 0
Alerian MLP Common 00162Q866 7 600 SH   DFND 1 0 600 0
AllianceBernstein Holdings LP Unit Ltd Common 01881G106 1,191 49,000 SH   DFND 1 0 49,000 0
AllianceBernstein Holdings LP Unit Ltd Common 01881G106 36 1,500 SH   DFND 1 1,500 0 0
Alnylam Pharmaceuticals, Inc Common 02043Q107 13 110 SH   DFND 2 110 0 0
Ambac Financial Group, Inc. Common 023139884 2,510 145,426 SH   DFND 2 145,426 0 0
Anadarko Petroleum Corporation Common 032511107 3,165 64,800 SH   DFND 2 64,800 0 0
Anadarko Petroleum Corporation Common 032511107 347 7,100 SH   DFND 1 0 7,100 0
Anadarko Petroleum Corporation Common 032511107 433 8,860 SH   DFND 1 8,860 0 0
Anchor Bancorp Common 032838104 124 5,000 SH   DFND 1 0 5,000 0
Anchor Bancorp Common 032838104 179 7,250 SH   DFND 1 7,250 0 0
Apollo Global Management LLC Common 037612306 903 30,000 SH   DFND 2 30,000 0 0
Apple Inc. Common 037833100 3,699 24,000 SH   DFND 2 24,000 0 0
Apple Inc. Common 037833100 81 525 SH   DFND 1 0 525 0
Apple Inc. Common 037833100 81 525 SH   DFND 1 525 0 0
Arena Pharmaceuticals, Inc. Common 040047607 501 19,642 SH   DFND 2 19,642 0 0
Array BioPharm Inc. Common 04269X105 85 6,900 SH   DFND 2 6,900 0 0
AT&T Inc. Common 00206R102 783 20,000 SH   DFND 1 0 20,000 0
AT&T Inc. Common 00206R102 80 2,050 SH   DFND 1 2,050 0 0
Avadel Pharmaceuticals plc Common 05337M104 1,665 158,555 SH   DFND 2 158,555 0 0
AxoGen, Inc. Common 05463X106 366 18,898 SH   DFND 2 18,898 0 0
Bancorp 34, Inc. Common 05970V106 140 10,000 SH   DFND 2 10,000 0 0
Bank Nova Scotia Halifax Common 064149107 26 400 SH   DFND 1 0 400 0
Bellicum Pharmaceuticals, Inc. Common 079481107 658 56,984 SH   DFND 2 56,984 0 0
Bristol-Myers Squibb Company Common 110122108 142 2,225 SH   DFND 2 2,225 0 0
Canadian Natural Resources Inc. Common 136385101 460 13,750 SH   DFND 1 0 13,750 0
Canadian Natural Resources Inc. Common 136385101 623 18,600 SH   DFND 1 18,600 0 0
Capitol Federal Financial, Inc. Common 14057J101 10,005 680,600 SH   DFND 2 680,600 0 0
Capitol Federal Financial, Inc. Common 14057J101 59 4,000 SH   DFND 1 0 4,000 0
Capitol Federal Financial, Inc. Common 14057J101 85 5,800 SH   DFND 1 5,800 0 0
Cardiome Pharma Corp. Common 14159U301 286 134,478 SH   DFND 2 134,478 0 0
Catalyst Pharmaceuticals, Inc. Common 14888U101 920 365,110 SH   DFND 2 365,110 0 0
Check Cap Ltd. Common M2361E112 298 162,871 SH   DFND 2 162,871 0 0
Check Cap Ltd. @7.50 Exp. 2/28/20 Common M2361E120 495 66,059 SH   DFND 2 66,059 0 0
China Ceramics Co. Ltd. Common G2113X134 35 25,493 SH   DFND 2 25,493 0 0
Chemours Co. Common 163851108 32 640 SH   DFND 1 0 640 0
Chemours Co. Common 163851108 36 720 SH   DFND 1 720 0 0
Coca-Cola Common 191216100 342 7,600 SH   DFND 1 0 7,600 0
Coca-Cola Common 191216100 261 5,800 SH   DFND 1 5,800 0 0
Coherus Biosciences, Inc. Common 19249H103 458 34,320 SH   DFND 2 34,320 0 0
Colony Northstar Inc. Common 19625W104 18 1,466 SH   DFND 1 0 1,466 0
Community Healthcare Trust Incorporated Common 20369C106 1,618 60,000 SH   DFND 2 60,000 0 0
Conagra Brands Common 205887102 337 10,000 SH   DFND 1 0 10,000 0
Concert Pharmaceuticals, Inc. Common 206022105 664 45,000 SH   DFND 2 45,000 0 0
Condor Hospitality Trust, Inc. Common 20676Y403 523 50,000 SH   DFND 2 50,000 0 0
CoreCivic, Inc. Common 21871N101 2,008 75,000 SH   DFND 2 75,000 0 0
Cousins Properties Common 222795106 125 13,428 SH   DFND 1 0 13,428 0
Delta Air Lines, Inc. Common 247361702 2,773 57,500 SH   DFND 2 57,500 0 0
Dermira, Inc. Common 24983L104 649 24,036 SH   DFND 2 24,036 0 0
DowDupont Inc. Common 26078J100 2,296 33,158 SH   DFND 1 0 33,158 0
DowDupont Inc. Common 26078J100 311 4,486 SH   DFND 1 4,486 0 0
Eagle Materials Common 26969P108 24 228 SH   DFND 1 0 228 0
Eli Lilly & Co. Common 532457108 26 300 SH   DFND 1 0 300 0
Edwards Lifesciences Corporation Common 28176E108 535 4,891 SH   DFND 2 4,891 0 0
Eiger BioPharmaceuticals, Inc Common 28249U105 119 10,800 SH   DFND 2 10,800 0 0
Entegra Financial Corp. Common 29363J108 749 30,000 SH   DFND 2 30,000 0 0
Entegra Financial Corp. Common 29363J108 75 3,000 SH   DFND 1 0 3,000 0
Entegra Financial Corp. Common 29363J108 181 7,250 SH   DFND 1 7,250 0 0
FNB Corporation Common 302520101 125 8,905 SH   DFND 1 0 8,905 0
Ford Motor Company Common 345370860 60 5,000 SH   DFND 1 0 5,000 0
FutureFuel Corporation Common 36116M106 863 54,804 SH   DFND 2 54,804 0 0
General Electric Common 369604103 609 25,200 SH   DFND 1 0 25,200 0
General Electric Common 369604103 84 3,480 SH   DFND 1 3,480 0 0
General Motors Company Common 370334104 202 5,000 SH   DFND 1 0 5,000 0
Gilead Sciences, Inc. Common 375558103 844 10,420 SH   DFND 2 10,420 0 0
GlaxoSmithKline plc Common 37733W105 918 22,600 SH   DFND 2 22,600 0 0
Global Blood Therapeutics, Inc. Common 37890U108 752 24,224 SH   DFND 2 24,224 0 0
Global Medical REIT, Inc. Common 37954A204 691 77,000 SH   DFND 2 77,000 0 0
Global Medical REIT, Inc. Ser A Cum Pfd. Common 37957W203 878 35,000 SH   DFND 2 35,000 0 0
Heritage NOLA Bancorp, Inc. Common 42727P108 58 5,000 SH   DFND 2 5,000 0 0
Heritage NOLA Bancorp, Inc. Common 42727P108 35 3,000 SH   DFND 1 0 3,000 0
Heritage NOLA Bancorp, Inc. Common 42727P108 105 9,000 SH   DFND 1 9,000 0 0
Hospitality Properties Trust Common 44106M102 712 25,000 SH   DFND 1 0 25,000 0
International Business Machines Common 459200101 622 4,284 SH   DFND 1 0 4,284 0
Ignyta, Inc. Common 451731103 836 67,700 SH   DFND 2 67,700 0 0
Immunomedics, Inc Common 452907108 915 65,483 SH   DFND 2 65,483 0 0
Independence Realty Trust, Inc. Common 45378A106 170 16,700 SH   DFND 2 16,700 0 0
Iridium Communications, Inc. Common 46269C102 3,481 338,000 SH   DFND 2 338,000 0 0
JBS S.A. Common 466110103 1,050 195,500 SH   DFND 2 195,500 0 0
Johnson & Johnson Common 478160104 286 2,200 SH   DFND 1 0 2,200 0
Johnson & Johnson Common 478160104 660 5,080 SH   DFND 1 5,080 0 0
JP Morgan & Chase Co. Common 46625H100 840 8,800 SH   DFND 1 0 8,800 0
JP Morgan & Chase Co. Common 46625H100 1,361 14,250 SH   DFND 1 14,250 0 0
Juno Therapeutics Inc. Common 48205A109 24 529 SH   DFND 2 529 0 0
Kimbery Clark Corporation Common 494368103 706 6,000 SH   DFND 1 0 6,000 0
Ligand Pharmaceuticals Incorporated Common 53220K504 108,410 796,257 SH   DFND 2 796,257 0 0
Ligand Pharmaceuticals Incorporated Common 53220K504 251 1,843 SH   DFND 1 0 1,843 0
Macquarie Infrastructure Common 55608B105 650 9,000 SH   DFND 1 0 9,000 0
Macquarie Infrastructure Common 55608B105 238 3,300 SH   DFND 1 3,300 0 0
Medtronics Inc. Common G5960L103 82 1,050 SH   DFND 1 0 1,050 0
Merck & Co. Inc. Common 58993Y105 32 500 SH   DFND 1 0 500 0
Merck & Co. Inc. Common 58993Y105 51 800 SH   DFND 1 800 0 0
MEI Pharma, Inc. Common 55279B202 38 14,000 SH   DFND 2 14,000 0 0
Microsoft Corporation Common 594918104 5,017 67,350 SH   DFND 2 67,350 0 0
Microsoft Corporation Common 594918104 74 1,000 SH   DFND 1 0 1,000 0
Microsoft Corporation Common 594918104 30 400 SH   DFND 1 400 0 0
Mondelez Int'l Inc. Common 609207105 529 13,000 SH   DFND 1 0 13,000 0
Mondelez Int'l Inc. Common 609207105 118 2,900 SH   DFND 1 2,900 0 0
Novelion Therapeutics, Inc. Common 67001K202 768 109,184 SH   DFND 2 109,184 0 0
Ocera Therapeutics, Inc. Common 67552A108 45 39,800 SH   DFND 2 39,800 0 0
Och-Ziff Capital Management Group Common 67551U105 6 2,000 SH   DFND 1 2,000 0 0
Oritani Financial Corp Common 68633D103 34 2,000 SH   DFND 1 0 2,000 0
Oritani Financial Corp Common 68633D103 97 5,800 SH   DFND 1 5,800 0 0
OvaScience, Inc. Common 69014Q101 196 138,000 SH   DFND 2 138,000 0 0
PCSB Financial Corporation Common 69324R104 377 20,000 SH   DFND 2 20,000 0 0
Parkway Inc. Common 70156Q107 39 1,678 SH   DFND 1 0 1,678 0
Peoples United Financial Common 712704105 27 1,500 SH   DFND 1 0 1,500 0
Pfizer Inc. Common 717081103 3,606 101,000 SH   DFND 1 0 101,000 0
Pfizer Inc. Common 717081103 29,227 818,676 SH   DFND 2 818,676 0 0
Pfizer Inc. Common 717081103 2,106 59,000 SH   DFND 1 59,000 0 0
Physicians Realty Trust Common 71943U104 989 55,800 SH   DFND 2 55,800 0 0
RMR Group Inc. Common 74967R106 1 16 SH   DFND 1 0 16 0
Rand Logistics, Inc. Common 752182105 210 664,435 SH   DFND 2 664,435 0 0
Reed's Inc. Common 758338107 259 117,592 SH   DFND 2 117,592 0 0
Ryman Hospitality Ppty Inc. Common 78377T107 750 12,000 SH   DFND 1 0 12,000 0
Ryman Hospitality Ppty Inc. Common 78377T107 25 400 SH   DFND 1 400 0 0
Seaspan Corporation Common Y75638109 993 140,000 SH   DFND 2 140,000 0 0
Shire plc Common 82481R106 460 3,003 SH   DFND 2 3,003 0 0
Standard AVB Financial Corp. Common 85303B100 590 20,000 SH   DFND 2 20,000 0 0
Starwood Ppty Inc. Common 85571B105 9 400 SH   DFND 1 400 0 0
Stemline Therapeutics, Inc. Common 85858C107 832 74,992 SH   DFND 2 74,992 0 0
Sunshine Bancorp, Inc. Common 86777J108 465 20,000 SH   DFND 2 20,000 0 0
Sunshine Bancorp, Inc. Common 86777J108 46 2,000 SH   DFND 1 0 2,000 0
Sunshine Bancorp, Inc. Common 86777J108 135 5,800 SH   DFND 1 5,800 0 0
Synergy Pharmaceuticals, Inc. Common 871639308 459 158,400 SH   DFND 2 158,400 0 0
The Howard Hughes Corporation Common 44267D107 2,359 20,000 SH   DFND 2 20,000 0 0
The Kraft Heinz Company Common 500754106 543 7,000 SH   DFND 2 7,000 0 0
The Kraft Heinz Company Common 500754106 455 5,865 SH   DFND 1 0 5,865 0
The Kraft Heinz Company Common 500754106 235 3,035 SH   DFND 1 3,035 0 0
TheStreet Inc. Common 88368Q103 109 100,600 SH   DFND 2 100,600 0 0
Total SA Common 89151E109 155 2,900 SH   DFND 1 0 2,900 0
Total SA Common 89151E109 126 2,360 SH   DFND 1 2,360 0 0
United Continental Holdings, Inc. Common 910047109 609 10,000 SH   DFND 2 10,000 0 0
Verizon Communications Inc. Common 92343V104 841 16,991 SH   DFND 1 0 16,991 0
Verizon Communications Inc. Common 92343V104 65 1,320 SH   DFND 1 1,320 0 0
Viveve Medical, Inc. Common 92852W204 502 95,748 SH   DFND 2 95,748 0 0
Weyerhaeuser Company Common 962166104 681 20,000 SH   DFND 2 20,000 0 0
Wheeler Real Estate Investment Trust, Inc. Common 963025606 680 30,000 SH   DFND 2 30,000 0 0
WP Carey Inc. Common 92936U109 404 6,000 SH   DFND 1 0 6,000 0
Xenon Pharmaceuticals Inc. Common 98420N105 133 45,000 SH   DFND 2 45,000 0 0
Zogenix, Inc. Common 98978L204 249 7,100 SH   DFND 2 7,100 0 0