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
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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
Adams Express COM 006212104 2,329 177,114 SH   SOLE   177,114 0 0
American Express Company COM 025816109 15,690 245,000 SH   SOLE   245,000 0 0
Anadarko Petroleum Corporation COM 032511107 7,160 113,000 SH   SOLE   113,000 0 0
Aon plc COM G0408V102 17,872 158,877 SH   SOLE   158,877 0 0
Apache Corporation COM 037411105 10,277 160,900 SH   SOLE   160,900 0 0
Apple Inc. COM 037833100 14,018 124,000 SH   SOLE   124,000 0 0
Applied DNA Sciences, Inc. WARRANTS 03815U110 317 281,409 SH   SOLE   281,409 0 0
Arantana Therapeutics, Inc. COM 03874P101 3,857 412,101 SH   SOLE   412,101 0 0
Arch Capital Group Ltd. COM G0450A105 48,349 610,000 SH   SOLE   610,000 0 0
Ariad Pharmaceuticals, Inc. COM 04033A100 10,369 757,400 SH   SOLE   757,400 0 0
ASML Holding N.V. COM N07059210 22,009 200,850 SH   SOLE   200,850 0 0
Axis Capital Holdings Limited COM G0692U109 10,187 187,500 SH   SOLE   187,500 0 0
Berkshire Hathaway Inc. CLASS A 084670108 23,784 110 SH   SOLE   110 0 0
Cameco Corporation COM 13321L108 12,607 1,472,819 SH   SOLE   1,472,819 0 0
Celgene Corporation COM 151020104 19,861 190,000 SH   SOLE   190,000 0 0
Cempra, Inc. COM 15130J109 12,449 514,409 SH   SOLE   514,409 0 0
Charter Communications Inc COM 16119P108 5,399 20,000 SH   SOLE   20,000 0 0
Chipotle Mexican Grill, Inc. COM 169656105 8,894 21,000 SH   SOLE   21,000 0 0
Cisco Systems, Inc. COM 17275R102 25,059 790,000 SH   SOLE   790,000 0 0
Costco Wholesale Corporation COM 22160K105 25,741 168,781 SH   SOLE   168,781 0 0
CVS Health Corporation COM 126650100 12,661 142,280 SH   SOLE   142,280 0 0
Diageo plc ADR COM 25243Q205 21,166 182,400 SH   SOLE   182,400 0 0
Eaton Corporation plc SHS G29183103 12,428 189,131 SH   SOLE   189,131 0 0
eBay Inc. COM 278642103 9,706 295,000 SH   SOLE   295,000 0 0
Ensco plc Class A COM G3157S106 5,525 650,000 SH   SOLE   650,000 0 0
Everest Re Group, Ltd. COM G3223R108 23,746 125,000 SH   SOLE   125,000 0 0
Ford Motor Company COM 345370860 15,257 1,264,063 SH   SOLE   1,264,063 0 0
General Electric Company COM 369604103 26,658 900,000 SH   SOLE   900,000 0 0
Gilead Sciences, Inc. COM 375558103 34,702 438,600 SH   SOLE   438,600 0 0
Gulf Coast Ultra Deep Royalty COM 40222T104 253 3,830,440 SH   SOLE   3,830,440 0 0
Halliburton Company COM 406216101 24,011 535,000 SH   SOLE   535,000 0 0
Helix Energy Solutions Group I COM 42330P107 14,065 1,730,000 SH   SOLE   1,730,000 0 0
Herc Holdings Inc COM 42704L104 3,647 108,220 SH   SOLE   108,220 0 0
Hertz Global Holdings, Inc. COM 42805T105 4,177 104,012 SH   SOLE   104,012 0 0
Huntsman Corporation COM 447011107 16,700 1,026,422 SH   SOLE   1,026,422 0 0
IMAX Corporation COM 45245E109 7,074 244,196 SH   SOLE   244,196 0 0
Intel Corporation COM 458140100 14,741 390,500 SH   SOLE   390,500 0 0
Intra-Cellular Therapies, Inc. COM 46116X010 3,504 229,942 SH   SOLE   229,942 0 0
JPMorgan Chase & Co. COM 46625H100 18,978 285,000 SH   SOLE   285,000 0 0
Keysight Technologies, Inc. COM 49338L103 4,053 127,900 SH   SOLE   127,900 0 0
Liberty Interactive Corporatio COM 53071M880 12,346 309,665 SH   SOLE   309,665 0 0
M&T Bank Corporation COM 55261F104 16,254 140,000 SH   SOLE   140,000 0 0
Macy's Inc. COM 55616P104 13,895 375,026 SH   SOLE   375,026 0 0
Merck & Co., Inc. COM 58933Y105 24,789 397,191 SH   SOLE   397,191 0 0
MetLife, Inc. COM 59156R108 17,772 400,000 SH   SOLE   400,000 0 0
Microsoft Corporation COM 594918104 39,208 680,686 SH   SOLE   680,686 0 0
Nelnet, Inc. COM 64031N108 20,185 500,000 SH   SOLE   500,000 0 0
Paratek Pharmaceuticals, Inc COM 699374302 7,029 540,252 SH   SOLE   540,252 0 0
PepsiCo, Inc. COM 713448108 21,210 195,000 SH   SOLE   195,000 0 0
Pfizer Inc. COM 717081103 15,608 460,808 SH   SOLE   460,808 0 0
QUALCOMM Incorporated COM 747525103 26,797 391,200 SH   SOLE   391,200 0 0
Regal Entertainment Group COM 758766109 8,387 385,600 SH   SOLE   385,600 0 0
Repros Therapeutics Inc. COM 76028H209 1,486 711,123 SH   SOLE   711,123 0 0
Republic Services, Inc. COM 760759100 39,745 787,800 SH   SOLE   787,800 0 0
Royce Value Trust, Inc. COM 780910105 2,878 227,328 SH   SOLE   227,328 0 0
Synchronoss Technologies, Inc. COM 87157B103 15,567 378,034 SH   SOLE   378,034 0 0
TJX Companies, Inc./The COM 872540109 68,780 919,768 SH   SOLE   919,768 0 0
Tyler Technologies Inc COM 902252105 4,156 24,270 SH   SOLE   24,270 0 0
United Technologies Corporatio COM 913017109 19,304 190,000 SH   SOLE   190,000 0 0
Universal Display Corporation COM 91347P105 13,223 238,209 SH   SOLE   238,209 0 0
Vodafone Group plc ADR COM 92857W308 19,934 683,852 SH   SOLE   683,852 0 0
Cameco Corporation Mar 10 Calls Exp 3/17/2017 CALL 13321L108 375 15,000 SH   SOLE   15,000 0 0
Ensco plc Jan 8 Calls Exp 1/20/2017 CALL G3157S106 1,350 10,000 SH   SOLE   10,000 0 0