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 2,117 27,953 SH   DFND 2 27,953 0 0
AbbVie Inc. Common 00287Y109 379 5,000 SH   DFND 1 0 5,000 0
Acceleron Pharma, Inc. Common 00434H108 859 21,749 SH   DFND 2 21,749 0 0
Aimmune Therapeutics, Inc. Common 00900T107 1,173 55,990 SH   DFND 2 55,990 0 0
Alcon, Inc Common H01301128 35 600 SH   DFND 2 600 0 0
Alimera Sciences, Inc. Common 016259103 259 458,120 SH   DFND 2 458,120 0 0
AllianceBernstein Holdings PL Unit Ltd Common 01881G106 1,438 49,000 SH   DFND 1 0 49,000 0
AllianceBernstein Holdings PL Unit Ltd Common 01881G106 44 1,500 SH   DFND 1 1,500 0 0
Alerian MLP Common 00162Q866 5 600 SH   DFND 1 0 600 0
Alphabet Inc-Cl C Common 02079K107 9,630 7,900 SH   DFND 2 7,900 0 0
American Outdoor Brands Corporation Common 02874P103 2,282 390,000 SH   DFND 2 390,000 0 0
Apollo Global Management, Inc. Common 03768E105 12,205 322,708 SH   DFND 2 322,708 0 0
Apple Inc. Common 037833100 118 525 SH   DFND 1 0 525 0
Apple Inc. Common 037833100 118 525 SH   DFND 1 525 0 0
Arena Pharmaceuticals, Inc. Common 040047607 659 14,391 SH   DFND 2 14,391 0 0
Ascendis Pharma A/S Common 04351P901 63 656 SH   DFND 2 656 0 0
AT&T Inc. Common 00206R102 757 20,000 SH   DFND 1 0 20,000 0
AT&T Inc. Common 00206R102 78 2,050 SH   DFND 1 2,050 0 0
Aurinia Pharmaceuticals Inc. Common 05156V102 283 53,000 SH   DFND 2 53,000 0 0
Bank Nova Scotia Halifax Common 064149107 23 400 SH   DFND 1 0 400 0
Bellicum Pharmaceuticals Common 079481107 177 168,203 SH   DFND 2 168,203 0 0
Bellicum Pharmaceuticals @ 5 exp 11/19 Common 9EDW5GYA8 1 100 SH   DFND 2 100 0 0
Bellus Health Inc. Common 07987C204 1,559 242,611 SH   DFND 2 242,611 0 0
BioDelivery Sciences International, Inc. Common 09060J106 2,179 517,507 SH   DFND 2 517,507 0 0
Bristol-Myers Squibb Company Common 110122108 1,515 29,868 SH   DFND 2 29,868 0 0
Calumet Specialty Products Partners, LP Common 131476103 7,280 2,000,000 SH   DFND 2 2,000,000 0 0
Calumet Specialty Products Partners, LP Common 131476103 73 20,000 SH   DFND 1 20,000 0 0
Canadian Natural Resources Inc. Common 136385101 366 13,750 SH   DFND 1 0 13,750 0
Canadian Natural Resources Inc. Common 136385101 487 18,285 SH   DFND 1 18,600 0 0
Capitol Federal Financial Inc. Common 14057J101 55 4,000 SH   DFND 1 0 4,000 0
Capitol Federal Financial Inc. Common 14057J101 80 5,800 SH   DFND 1 5,800 0 0
Catalyst Pharmaceuticals, Inc. Common 14888U101 804 151,415 SH   DFND 2 151,415 0 0
Celgene Corporation Common 151020104 1,574 15,847 SH   DFND 2 15,847 0 0
Centerstate Banks Corp Common 15201P109 43 1,780 SH   DFND 1 0 1,780 0
Centerstate Banks Corp Common 15201P109 124 5,162 SH   DFND 1 5,162 0 0
Check Cap Ltd. Common M2361E203 4 2,224 SH   DFND 2 2,224 0 0
Check Cap Ltd. @7.50 Exp. 2/28/20 Common M2361E120 482 64,309 SH   DFND 2 64,309 0 0
Chemours Co. Common 163851108 7 440 SH   DFND 1 0 440 0
Chemours Co. Common 163851108 11 720 SH   DFND 1 720 0 0
ChemoCentryx, Inc Common 16383L106 34 5,000 SH   DFND 2 5,000 0 0
Cidara Therapeutics, Inc. Common 171757107 390 195,666 SH   DFND 2 195,666 0 0
Coherus Biosciences, Inc. Common 19249H103 1,284 63,387 SH   DFND 2 63,387 0 0
Coca Cola Common 191216100 414 7,600 SH   DFND 1 0 7,600 0
Coca Cola Common 191216100 316 5,800 SH   DFND 1 5,800 0 0
Colony Northstar Inc. Common 19625W104 9 1,466 SH   DFND 1 0 1,466 0
Columbia Financial, Inc. Common 197641103 369 23,363 SH   DFND 2 23,363 0 0
Community Healthcare Trust Incorporated Common 20369C106 2,673 60,000 SH   DFND 2 60,000 0 0
Conagra Brands Common 205887102 307 10,000 SH   DFND 1 0 10,000 0
Corteva Inc. Common 22052L104 309 11,051 SH   DFND 1 0 11,051 0
Corteva Inc. Common 22052L104 42 1,494 SH   DFND 1 1,494 0 0
Cousins Properties Common 222795106 126 3,357 SH   DFND 1 0 3,357 0
CymaBay Therapeutics, Inc. Common 23257D103 413 80,889 SH   DFND 2 80,889 0 0
Dell Technologies Inc. Common 24703L202 333 6,426 SH   DFND 2 6,426 0 0
Delta Air Lines, Inc. Common 247361702 3,312 57,500 SH   DFND 2 57,500 0 0
Dow Inc. Common 260557103 527 11,051 SH   DFND 1 0 11,051 0
Dow Inc. Common 260557103 71 1,494 SH   DFND 1 1,494 0 0
Dupont DE Nemours Inc. Common 26614N102 788 11,051 SH   DFND 1 0 11,051 0
Dupont DE Nemours Inc. Common 26614N102 107 1,494 SH   DFND 1 1,494 0 0
Eagle Materials Inc. Common 26969P108 21 228 SH   DFND 1 0 228 0
Eiger BioPharmaceuticals, Inc. Common 28249U105 2,403 234,448 SH   DFND 2 234,448 0 0
Eli Lilly Inc. Common 532457108 34 300 SH   DFND 1 0 300 0
Entegra Financial Corporation Common 29363J108 90 3,000 SH   DFND 1 0 3,000 0
Entegra Financial Corporation Common 29363J108 218 7,250 SH   DFND 1 7,250 0 0
Essential Properties Realty Trust, Inc. Common 29670E107 1,833 80,000 SH   DFND 2 80,000 0 0
Fannie Mae 4.75 percent Series M Common 313586836 978 43,000 SH   DFND 2 43,000 0 0
Fannie Mae 5.1 percent Series E Common 313586604 11 500 SH   DFND 2 500 0 0
Fannie Mae 5.125 percent Series L Common 313586844 193 8,680 SH   DFND 2 8,680 0 0
Fannie Mae 5.81 percent Series H Common 313586885 228 10,000 SH   DFND 2 10,000 0 0
Fannie Mae 8.25 percent Series S Common 313586752 801 60,000 SH   DFND 2 60,000 0 0
Fannie Mae 8.25 percent Series T Common 313586737 3,043 234,236 SH   DFND 2 234,236 0 0
Fannie Mae Float Series P Common 313586786 599 49,720 SH   DFND 2 49,720 0 0
FNB Corporation Common 302520101 103 8,905 SH   DFND 1 0 8,905 0
Foamix Pharmaceuticals Ltd. Common M46135105 1,128 371,146 SH   DFND 2 371,146 0 0
Fortress Trans & Infrastructure Inv. LLC Common 34960P101 13,461 888,509 SH   DFND 2 888,509 0 0
Freddie Mac 5 percent Series F Common 313400863 473 21,590 SH   DFND 2 21,590 0 0
Freddie Mac 5.3 percent Common 313400822 2,135 100,000 SH   DFND 2 100,000 0 0
Freddie Mac 5.57 percent Series V Common 313400673 445 39,739 SH   DFND 2 39,739 0 0
Freddie Mac 6 percent Series P Common 313400749 116 5,200 SH   DFND 2 5,200 0 0
Freddie Mac 6.02 percent Series X Common 313400657 651 53,811 SH   DFND 2 53,811 0 0
Freddie Mac 8.375 percent Series Z Common 313400624 1,826 139,500 SH   DFND 2 139,500 0 0
FS Bancorp Inc. Common 30263Y104 77 1,460 SH   DFND 1 0 1,460 0
FS Bancorp Inc. Common 30263Y104 111 2,117 SH   DFND 1 2,117 0 0
FS KKR Capital Corp. Common 302635107 8,162 1,400,000 SH   DFND 2 1,400,000 0 0
FS KKR Capital Corp. Common 302635107 612 105,000 SH   DFND 1 0 105,000 0
FS KKR Capital Corp. Common 302635107 128 22,000 SH   DFND 1 22,000 0 0
General Electric Common 369604103 11 1,200 SH   DFND 1 0 1,200 0
General Electric Common 369604103 31 3,480 SH   DFND 1 3,480 0 0
Global Medical REIT, Inc. Ser A Cum Pfd. Common 37957W203 930 35,000 SH   DFND 2 35,000 0 0
Globus Medical, Inc. Common 379577208 148 2,900 SH   DFND 2 2,900 0 0
Heritage NOLA Bancorp Inc. Common 42727P108 38 3,000 SH   DFND 1 0 3,000 0
Heritage NOLA Bancorp Inc. Common 42727P108 114 9,000 SH   DFND 1 9,000 0 0
Horizon Therapeutics Public Ltd. Company Common G46188101 1,753 64,364 SH   DFND 2 64,364 0 0
International Business Machines Common 459200101 623 4,284 SH   DFND 1 0 4,284 0
International Gaming Technologies Common G4863A108 107 7,500 SH   DFND 1 0 7,500 0
International Gaming Technologies Common G4863A108 8,526 600,000 SH   DFND 2 600,000 0 0
Johnson & Johnson Common 478160104 285 2,200 SH   DFND 1 0 2,200 0
Johnson & Johnson Common 478160104 657 5,080 SH   DFND 1 5,080 0 0
JP Morgan Chase Common 46625H100 1,036 8,800 SH   DFND 1 0 8,800 0
JP Morgan Chase Common 46625H100 1,677 14,250 SH   DFND 1 14,250 0 0
Kadmon Holdings, Inc. Common 48283N106 264 104,700 SH   DFND 2 104,700 0 0
Kimberly Clark Corporation Common 494368103 852 6,000 SH   DFND 1 0 6,000 0
Krystal Biotech, Inc. Common 501147102 201 5,797 SH   DFND 2 5,797 0 0
Legacy Housing Corporation Common 52472M101 65 4,000 SH   DFND 1 0 4,000 0
Legacy Housing Corporation Common 52472M101 81 5,000 SH   DFND 1 5,000 0 0
Lexicon Pharmaceuticals, Inc. Common 528872302 90 29,800 SH   DFND 2 29,800 0 0
Ligand Pharmaceuticals Incorporated Common 53220K504 34,062 342,198 SH   DFND 2 342,198 0 0
Ligand Pharmaceuticals Incorporated Common 53220K504 183 1,843 SH   DFND 1 0 1,843 0
Ligand Pharmaceuticals Incorporated Common 53220K504 896 9,000 SH   DFND 1 9,000 0 0
LKQ Corporation Common 501889208 9,435 300,000 SH   DFND 2 300,000 0 0
Macquarie Infrastructure Corporation Common 55608B105 6,457 163,600 SH   DFND 2 163,600 0 0
Macquarie Infrastructure Corporation Common 55608B105 355 9,000 SH   DFND 1 0 9,000 0
Macquarie Infrastructure Corporation Common 55608B105 130 3,300 SH   DFND 1 3,300 0 0
Medtronics Inc. Common G5960L103 114 1,050 SH   DFND 1 0 1,050 0
MEI Pharma, Inc. Common 55279B202 65 38,590 SH   DFND 2 38,590 0 0
Merck & Co. Inc. Common 58993Y105 42 500 SH   DFND 1 0 500 0
Merck & Co. Inc. Common 58993Y105 67 800 SH   DFND 1 800 0 0
Microsoft Corporation Common 594918104 139 1,000 SH   DFND 1 0 1,000 0
Microsoft Corporation Common 594918104 56 400 SH   DFND 1 400 0 0
Mondelez Int'l Inc. Common 609207105 719 13,000 SH   DFND 1 0 13,000 0
Mondelez Int'l Inc. Common 609207105 160 2,900 SH   DFND 1 2,900 0 0
MPLX LP Common 55336V100 10,267 366,558 SH   DFND 2 366,558 0 0
Novartis AG Common 66987V109 130 1,500 SH   DFND 2 1,500 0 0
Novelion Therapeutics, Inc. Common 67001K202 79 109,135 SH   DFND 2 109,135 0 0
Occidental Pete Corp Common 674599105 57 1,273 SH   DFND 1 0 1,273 0
Occidental Pete Corp Common 674599105 76 1,700 SH   DFND 1 1,700 0 0
Oritani Financial Corp Common 68633D103 35 2,000 SH   DFND 1 0 2,000 0
Oritani Financial Corp Common 68633D103 103 5,800 SH   DFND 1 5,800 0 0
Orthofix Medical Inc. Common 68752M108 106 2,000 SH   DFND 2 2,000 0 0
Peoples United Financial Common 712704105 23 1,500 SH   DFND 1 0 1,500 0
Pfizer Inc. Common 717081103 3,629 101,000 SH   DFND 1 0 101,000 0
Pfizer Inc. Common 717081103 1,110 30,900 SH   DFND 1 44,000 0 0
Quotient Limited Common G73268107 548 70,542 SH   DFND 2 70,542 0 0
Radius Health Inc. Common 750469207 1,887 73,269 SH   DFND 2 73,269 0 0
RMR Group Inc. Common 74967R106 1 16 SH   DFND 1 0 16 0
Ryman Hospitality Ppty Inc. Common 78377T107 982 12,000 SH   DFND 1 0 12,000 0
Ryman Hospitality Ppty Inc. Common 78377T107 33 400 SH   DFND 1 400 0 0
Sculptor Cap Mgmt Common 811246107 4 200 SH   DFND 1 200 0 0
Service Ppty Trust Common 81761L102 26 1,000 SH   DFND 1 0 1,000 0
Starwood Ppty Common 85571B105 10 400 SH   DFND 1 400 0 0
Stemline Therapeutics, Inc. Common 85858C107 1,124 107,934 SH   DFND 2 107,934 0 0
Stericycle, Inc. Common 858912108 15,996 314,083 SH   DFND 2 314,083 0 0
The Michaels Companies, Inc. Common 59408Q106 1,469 150,000 SH   DFND 2 150,000 0 0
The Kraft Heinz Company Common 500754106 52 1,865 SH   DFND 1 0 1,865 0
The Kraft Heinz Company Common 500754106 85 3,035 SH   DFND 1 3,035 0 0
The Stars Group Inc. Common 85570W100 8,176 545,800 SH   DFND 2 545,800 0 0
Total SA Common 89151E109 26 500 SH   DFND 1 0 500 0
Total SA Common 89151E109 123 2,360 SH   DFND 1 2,360 0 0
Upland Software, Inc. Common 91544A109 15,269 438,000 SH   DFND 2 438,000 0 0
Verizon Communications Inc. Common 92343V104 1,026 16,991 SH   DFND 1 0 16,991 0
Verizon Communications Inc. Common 92343V104 80 1,320 SH   DFND 1 1,320 0 0
Verrica Pharmaceuticals, Inc. Common 92511W108 151 10,207 SH   DFND 2 10,207 0 0
Viking Therapeutics, Inc. Common 92686J106 1,501 218,102 SH   DFND 2 218,102 0 0
WABTEC Common 929740108 0 6 SH   DFND 1 0 6 0
WABTEC Common 929740108 1 17 SH   DFND 1 17 0 0
Wheeler Real Estate Investment Trust, Inc. Common 963025606 203 14,309 SH   DFND 2 14,309 0 0
WP Carey Common 92936U109 537 6,000 SH   DFND 1 0 6,000 0
Xenon Pharmaceuticals Inc. Common 98420N105 1,688 187,311 SH   DFND 2 187,311 0 0