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 4,496 47,500 SH   DFND 2 47,500 0 0
AbbVie Inc. Common 00287Y109 473 5,000 SH   DFND 1 0 5,000 0
Abeona Therapeutics, Inc. Common 00289Y107 101 7,029 SH   DFND 2 7,029 0 0
Ablynx NV Common 00372Y105 11 200 SH   DFND 2 200 0 0
Affimed NV Common N01045108 44 24,000 SH   DFND 2 24,000 0 0
Aimmune Therapeutics, Inc. Common 00900T107 948 29,780 SH   DFND 2 29,780 0 0
Alerian MLP Common 00162Q866 6 600 SH   DFND 1 0 600 0
Alimera Sciences, Inc. Common 016259103 235 228,000 SH   DFND 2 228,000 0 0
AllianceBernstein Holdings LP Unit Ltd Common 01881G106 1,316 49,000 SH   DFND 1 0 49,000 0
AllianceBernstein Holdings LP Unit Ltd Common 01881G106 40 1,500 SH   DFND 1 1,500 0 0
Alnylam Pharmaceuticals, Inc Common 02043Q107 30 249 SH   DFND 2 249 0 0
Ambac Financial Group, Inc. Common 023139884 2,280 145,426 SH   DFND 2 145,426 0 0
American Outdoor Brands Corporation Common 02874P103 3,406 330,000 SH   DFND 2 330,000 0 0
Anadarko Petroleum Corporation Common 032511107 3,915 64,800 SH   DFND 2 64,800 0 0
Anadarko Petroleum Corporation Common 032511107 429 7,100 SH   DFND 1 0 7,100 0
Anadarko Petroleum Corporation Common 032511107 535 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 889 30,000 SH   DFND 2 30,000 0 0
Apple Inc. Common 037833100 4,027 24,000 SH   DFND 2 24,000 0 0
Apple Inc. Common 037833100 88 525 SH   DFND 1 0 525 0
Apple Inc. Common 037833100 88 525 SH   DFND 1 525 0 0
Arena Pharmaceuticals, Inc. Common 040047607 1,029 26,042 SH   DFND 2 26,042 0 0
AT&T Inc. Common 00206R102 713 20,000 SH   DFND 1 0 20,000 0
AT&T Inc. Common 00206R102 73 2,050 SH   DFND 1 2,050 0 0
AxoGen, Inc. Common 05463X106 690 18,898 SH   DFND 2 18,898 0 0
Bank Nova Scotia Halifax Common 064149107 25 400 SH   DFND 1 0 400 0
Bellicum Pharmaceuticals, Inc. Common 079481107 444 67,653 SH   DFND 2 67,653 0 0
Biodelivery Sciences Intl Common 09060J106 270 120,000 SH   DFND 2 120,000 0 0
Bristol-Myers Squibb Company Common 110122108 141 2,225 SH   DFND 2 2,225 0 0
Calumet Specialty Products Partners, LP Common 131476103 6,666 945,558 SH   DFND 2 945,558 0 0
Canadian Natural Resources Inc. Common 136385101 433 13,750 SH   DFND 1 0 13,750 0
Canadian Natural Resources Inc. Common 136385101 585 18,600 SH   DFND 1 18,600 0 0
Capitol Federal Financial, Inc. Common 14057J101 8,405 680,600 SH   DFND 2 680,600 0 0
Capitol Federal Financial, Inc. Common 14057J101 49 4,000 SH   DFND 1 0 4,000 0
Capitol Federal Financial, Inc. Common 14057J101 72 5,800 SH   DFND 1 5,800 0 0
Catalyst Pharmaceuticals, Inc. Common 14888U101 1,168 488,575 SH   DFND 2 488,575 0 0
Centerstate Banks Corp Common 15201P109 47 1,780 SH   DFND 1 0 1,780 0
Centerstate Banks Corp Common 15201P109 137 5,162 SH   DFND 1 5,162 0 0
Check Cap Ltd. Common M2361E203 84 162,871 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
Chemours Co. Common 163851108 31 640 SH   DFND 1 0 640 0
Chemours Co. Common 163851108 35 720 SH   DFND 1 720 0 0
China Ceramics Co. Ltd Common G2113X134 37 25,493 SH   DFND 2 25,493 0 0
Coca-Cola Common 191216100 330 7,600 SH   DFND 1 0 7,600 0
Coca-Cola Common 191216100 252 5,800 SH   DFND 1 5,800 0 0
Coherus Biosciences, Inc. Common 19249H103 446 40,320 SH   DFND 2 40,320 0 0
Colony Northstar Inc. Common 19625W104 8 1,466 SH   DFND 1 0 1,466 0
Community Healthcare Trust Incorporated Common 20369C106 1,544 60,000 SH   DFND 2 60,000 0 0
Conagra Brands Common 205887102 369 10,000 SH   DFND 1 0 10,000 0
Concert Pharmaceuticals, Inc. Common 206022105 1,135 49,557 SH   DFND 2 49,557 0 0
Condor Hospitality Trust, Inc. Common 20676Y403 500 50,000 SH   DFND 2 50,000 0 0
CoreCivic, Inc. Common 21871N101 1,464 75,000 SH   DFND 2 75,000 0 0
Cousins Properties Common 222795106 117 13,428 SH   DFND 1 0 13,428 0
Delta Air Lines, Inc. Common 247361702 3,152 57,500 SH   DFND 2 57,500 0 0
DowDupont Inc. Common 26078J100 2,112 33,158 SH   DFND 1 0 33,158 0
DowDupont Inc. Common 26078J100 286 4,486 SH   DFND 1 4,486 0 0
Eagle Materials Common 26969P108 23 228 SH   DFND 1 0 228 0
Editas Medicine Inc. Common 28106W103 33 1,000 SH   DFND 2 1,000 0 0
Edwards Lifesciences Corporation Common 28176E108 543 3,891 SH   DFND 2 3,891 0 0
Eiger BioPharmaceuticals, Inc. Common 28249U105 609 61,857 SH   DFND 2 61,857 0 0
Eli Lilly Co. Common 532457108 23 300 SH   DFND 1 0 300 0
Entegra Financial Corp. Common 29363J108 321 11,065 SH   DFND 2 11,065 0 0
Entegra Financial Corp. Common 29363J108 87 3,000 SH   DFND 1 0 3,000 0
Entegra Financial Corp. Common 29363J108 210 7,250 SH   DFND 1 7,250 0 0
FNB Corporation Common 302520101 120 8,905 SH   DFND 1 0 8,905 0
Facebook, Inc. Common 30303M102 3,196 20,000 SH   DFND 2 20,000 0 0
Ford Motor Company Common 345370860 55 5,000 SH   DFND 1 0 5,000 0
Fortress Trans & Infrastructure Inv. LLC Common 34960P101 7,992 501,064 SH   DFND 2 501,064 0 0
General Electric Common 369604103 340 25,200 SH   DFND 1 0 25,200 0
General Electric Common 369604103 47 3,480 SH   DFND 1 3,480 0 0
General Motors Common 37045V100 182 5,000 SH   DFND 1 0 5,000 0
Gilead Sciences, Inc. Common 375558103 671 8,901 SH   DFND 2 8,901 0 0
GlaxoSmithKline plc Common 37733W105 883 22,600 SH   DFND 2 22,600 0 0
Global Blood Therapeutics, Inc. Common 378904108 928 19,210 SH   DFND 2 19,210 0 0
Global Medical REIT, Inc. Ser A Cum Pfd. Common 37957W203 861 35,000 SH   DFND 2 35,000 0 0
GTx, Inc. Common 40052B207 178 10,000 SH   DFND 2 10,000 0 0
Heritage NOLA Banorp Inc. Common 42727P108 36 3,000 SH   DFND 1 0 3,000 0
Heritage NOLA Banorp Inc. Common 42727P108 108 9,000 SH   DFND 1 9,000 0 0
Horizon Pharma plc Common 00BQPVQZ6 1,046 73,640 SH   DFND 2 73,640 0 0
Hospitality Properties Trust Common 44106M102 634 25,000 SH   DFND 1 0 25,000 0
Immunomedics, Inc Common 452907108 854 58,483 SH   DFND 2 58,483 0 0
Intec Pharma Ltd. Common 00B7LFPY1 385 60,800 SH   DFND 2 60,800 0 0
International Business Machines Common 459200101 657 4,284 SH   DFND 1 0 4,284 0
Iridium Communications, Inc. Common 46269C102 3,803 338,000 SH   DFND 2 338,000 0 0
JBS S.A. Common 466110103 1,105 195,500 SH   DFND 2 195,500 0 0
Johnson & Johnson Common 478160104 282 2,200 SH   DFND 1 0 2,200 0
Johnson & Johnson Common 478160104 651 5,080 SH   DFND 1 5,080 0 0
JP Morgan & Chase Co. Common 46625H100 968 8,800 SH   DFND 1 0 8,800 0
JP Morgan & Chase Co. Common 46625H100 1,567 14,250 SH   DFND 1 14,250 0 0
Kimberly Clark Corporation Common 494368103 661 6,000 SH   DFND 1 0 6,000 0
Ligand Pharmaceuticals Incorporated Common 53220K504 91,036 551,198 SH   DFND 2 551,198 0 0
Ligand Pharmaceuticals Incorporated Common 53220K504 304 1,843 SH   DFND 1 0 1,843 0
Lowe's Companies Inc. Common 548661107 2,194 25,000 SH   DFND 2 25,000 0 0
Macquarie Infrastructure Corporation Common 55608B105 6,278 170,000 SH   DFND 2 170,000 0 0
Macquarie Infrastructure Corporation Common 55608B105 332 9,000 SH   DFND 1 0 9,000 0
Macquarie Infrastructure Corporation Common 55608B105 122 3,300 SH   DFND 1 3,300 0 0
Medtronics Inc. Common G5960L103 84 1,050 SH   DFND 1 0 1,050 0
MEI Pharma, Inc. Common 55279B202 29 14,000 SH   DFND 2 14,000 0 0
Merck & Co Inc. Common 58993Y105 27 500 SH   DFND 1 0 500 0
Merck & Co Inc. Common 58993Y105 44 800 SH   DFND 1 800 0 0
Microsoft Corporation Common 594918104 91 1,000 SH   DFND 1 0 1,000 0
Microsoft Corporation Common 594918104 37 400 SH   DFND 1 400 0 0
Mitel Networks Corp. Common 60671Q104 2,320 250,000 SH   DFND 2 250,000 0 0
Mondelez Int'l Inc. Common 609207105 542 13,000 SH   DFND 1 0 13,000 0
Mondelez Int'l Inc. Common 609207105 121 2,900 SH   DFND 1 2,900 0 0
MPLX LP Common 55336V100 2,478 75,000 SH   DFND 2 75,000 0 0
Newell Brands Inc. Common 651229106 2,548 100,000 SH   DFND 2 100,000 0 0
Novelion Therapeutics, Inc. Common 67001K202 382 109,184 SH   DFND 2 109,184 0 0
Och-Ziff Capital Management Group Common 67551U105 5 2,000 SH   DFND 1 2,000 0 0
Oracle Corporation Common 68389X105 2,288 50,000 SH   DFND 2 50,000 0 0
Oritani Financial Corp Common 68633D103 31 2,000 SH   DFND 1 0 2,000 0
Oritani Financial Corp Common 68633D103 89 5,800 SH   DFND 1 5,800 0 0
OvaScience, Inc. Common 69014Q101 91 112,000 SH   DFND 2 112,000 0 0
Pfizer Inc. Common 717081103 15,263 430,076 SH   DFND 2 430,076 0 0
Pfizer Inc. Common 717081103 3,584 101,000 SH   DFND 1 0 101,000 0
Pfizer Inc. Common 717081103 2,094 59,000 SH   DFND 1 59,000 0 0
Peoples United Financial Common 712704105 28 1,500 SH   DFND 1 0 1,500 0
Quotient Limited Common G73268107 754 160,000 SH   DFND 2 160,000 0 0
RMR Group Inc. Common 74967R106 1 16 SH   DFND 1 0 16 0
Ryman Hospitality Ppty Inc. Common 78377T107 929 12,000 SH   DFND 1 0 12,000 0
Ryman Hospitality Ppty Inc. Common 78377T107 31 400 SH   DFND 1 400 0 0
Starwood Ppty Inc. Common 85571B105 8 400 SH   DFND 1 400 0 0
Stemline Therapeutics, Inc. Common 85858C107 1,377 90,000 SH   DFND 2 90,000 0 0
Synergy Pharmaceuticals, Inc. Common 871639308 412 225,400 SH   DFND 2 225,400 0 0
The Howard Hughes Corporation Common 44267D107 3,242 23,300 SH   DFND 2 23,300 0 0
The Kraft Heinz Company Common 500754106 365 5,865 SH   DFND 1 0 5,865 0
The Kraft Heinz Company Common 500754106 189 3,035 SH   DFND 1 3,035 0 0
TheStreet Inc. Common 88368Q103 162 90,600 SH   DFND 2 90,600 0 0
Total SA Common 89151E109 167 2,900 SH   DFND 1 0 2,900 0
Total SA Common 89151E109 136 2,360 SH   DFND 1 2,360 0 0
United Continental Holdings, Inc. Common 910047109 695 10,000 SH   DFND 2 10,000 0 0
Upland Software Inc. Common 91544A109 10,077 350,000 SH   DFND 2 350,000 0 0
Verizon Communications Inc. Common 92343V104 813 16,991 SH   DFND 1 0 16,991 0
Verizon Communications Inc. Common 92343V104 63 1,320 SH   DFND 1 1,320 0 0
Viking Therapeutics, Inc. Common 92686J106 1,058 242,000 SH   DFND 2 242,000 0 0
Viveve Medical, Inc. Common 92852W204 402 109,748 SH   DFND 2 109,748 0 0
Wheeler Real Estate Investment Trust, Inc. Common 963025606 469 30,000 SH   DFND 2 30,000 0 0
WP Carey Common 92936U109 372 600 SH   DFND 1 0 600 0
Xenon Pharmaceuticals Inc. Common 98420N105 563 114,900 SH   DFND 2 114,900 0 0
Zogenix, Inc. Common 98978L204 801 20,000 SH   DFND 2 20,000 0 0