SEC FORM 13F-HR

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 COVER PAGE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 03-31-2018
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: B. Riley Financial, Inc.
Address: 21255 Burbank Blvd.
Suite 400
Woodland Hills, CA  91367
Form 13F File Number: 028-17148

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: Michael Markunas
Title: Chief Compliance Officer
Phone: 310-689-2220
Signature, Place, and Date of Signing:
/s/ Michael Markunas Los AngelesCA 05-04-2018
[Signature] [City, State] [Date]
Report Type (Check only one.):
   13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
   13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
X 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
028-03991 FIDUCIARY FINANCIAL SERVICES OF THE SOUTHWEST INC /TX
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 383
Form 13F Information Table Value Total: 358,952
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No. Form 13F File Number Name
1 028-17147 B. RILEY CAPITAL MANAGEMENT, LLC

SEC FORM 13-F Information Table

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
Expires: July 31, 2015
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
A10 NETWORKS INC COM 002121101 437 75,000 SH   DFND   75,000 0 0
ABBOTT LABS COM 002824100 51 853 SH   DFND 1 853 0 0
ABBOTT LABS COM 002824100 222 3,701 SH   DFND   0 0 3,701
ABBVIE INC COM 00287Y109 138 1,453 SH   DFND 1 1,453 0 0
ABBVIE INC COM 00287Y109 361 3,811 SH   DFND   0 0 3,811
ACACIA RESH CORP ACACIA TCH COM 003881307 508 145,000 SH   DFND   145,000 0 0
ACACIA RESH CORP ACACIA TCH COM 003881307 1,663 475,000 SH   DFND 1 475,000 0 0
ADVISORSHARES TR ADVISORSHS ETF 00768Y206 763 12,981 SH   DFND   0 0 12,981
AEGEAN MARINE PETROLEUM NETW SHS Y0017S102 2,993 1,330,200 SH   DFND 1 1,330,200 0 0
AEHR TEST SYSTEMS COM 00760J108 349 155,000 SH   DFND   155,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 10 55 SH   DFND 1 55 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 239 1,303 SH   DFND   0 0 1,303
ALPHABET INC CAP STK CL C 02079K107 164 159 SH   DFND   0 0 159
ALPHABET INC CAP STK CL C 02079K107 181 175 SH   DFND 1 175 0 0
ALPS ETF TR ALERIAN MLP 00162Q866 138 14,720 SH   DFND 1 14,720 0 0
ALPS ETF TR ALERIAN MLP 00162Q866 207 22,051 SH   DFND   0 0 22,051
ALTRIA GROUP INC COM 02209S103 47 750 SH   DFND 1 750 0 0
ALTRIA GROUP INC COM 02209S103 289 4,637 SH   DFND   0 0 4,637
AMAZON COM INC COM 023135106 156 108 SH   DFND 1 108 0 0
AMAZON COM INC COM 023135106 1,798 1,242 SH   DFND   0 0 1,242
AMC ENTMT HLDGS INC CL A COM 00165C104 1,201 85,504 SH   DFND 1 85,504 0 0
AMERI HLDGS INC *W EXP 11/08/202 02362F112 66 150,000 SH   DFND   150,000 0 0
AMYRIS INC COM NEW 03236M200 294 44,000 SH   DFND 1 44,000 0 0
APOLLO INVT CORP COM 03761U106 254 48,606 SH   DFND 1 48,606 0 0
APOLLO SR FLOATING RATE FD I COM 037636107 757 44,973 SH   DFND 1 44,973 0 0
APOLLO TACTICAL INCOME FD IN COM 037638103 374 23,833 SH   DFND 1 23,833 0 0
APPLE INC COM 037833100 1,291 7,696 SH   DFND   0 0 7,696
APPLE INC COM 037833100 1,630 9,716 SH   DFND 1 9,716 0 0
ARES CAP CORP COM 04010L103 27 1,715 SH   DFND   0 0 1,715
ARES CAP CORP COM 04010L103 1,226 77,233 SH   DFND 1 77,233 0 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 235 14,489 SH   DFND 1 14,489 0 0
AT&T INC COM 00206R102 69 1,942 SH   DFND 1 1,942 0 0
AT&T INC COM 00206R102 335 9,410 SH   DFND   0 0 9,410
AVISTA HEALTHCARE PUB ACQ CO CL A G0726L125 991 100,000 SH   DFND 1 100,000 0 0
BANK AMER CORP COM 060505104 10 320 SH   DFND 1 320 0 0
BANK AMER CORP COM 060505104 203 6,759 SH   DFND   0 0 6,759
BBX CAP CORP NEW CL A 05491N104 936 101,600 SH   DFND   101,600 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 299 1 SH   DFND 1 1 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 175 875 SH   DFND   0 0 875
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 519 2,600 SH   DFND 1 2,600 0 0
BERRY GLOBAL GROUP INC COM 08579W103 214 3,900 SH   DFND   0 0 3,900
BGC PARTNERS INC CL A 05541T101 188 14,000 SH   DFND   0 0 14,000
BLACKBERRY LTD COM 09228F103 1 75 SH   DFND 1 75 0 0
BLACKBERRY LTD COM 09228F103 75 6,550 SH   DFND   0 0 6,550
BLACKBERRY LTD COM 09228F103 1,610 140,000 SH   DFND   140,000 0 0
BLACKSTONE GSO FLTING RTE FU COM 09256U105 185 10,000 SH   DFND 1 10,000 0 0
BOEING CO COM 097023105 369 1,124 SH   DFND   0 0 1,124
BROOKFIELD REAL ASSETS INCOM SHS BEN INT 112830104 238 10,938 SH   DFND 1 10,938 0 0
BRT APARTMENTS CORP COM 055645303 1,006 85,627 SH   DFND 1 85,627 0 0
CADIZ INC COM NEW 127537207 135 10,000 SH   DFND   10,000 0 0
CAMTEK LTD ORD M20791105 165 24,439 SH   DFND   24,439 0 0
CATERPILLAR INC DEL COM 149123101 291 1,974 SH   DFND   0 0 1,974
CENTURY CMNTYS INC COM 156504300 287 9,592 SH   DFND 1 9,592 0 0
CHEVRON CORP NEW COM 166764100 60 526 SH   DFND 1 526 0 0
CHEVRON CORP NEW COM 166764100 358 3,143 SH   DFND   0 0 3,143
CISCO SYS INC COM 17275R102 92 2,140 SH   DFND 1 2,140 0 0
CISCO SYS INC COM 17275R102 442 10,310 SH   DFND   0 0 10,310
COCA COLA CO COM 191216100 17 400 SH   DFND 1 400 0 0
COCA COLA CO COM 191216100 217 5,003 SH   DFND   0 0 5,003
COHEN & STEERS LTD DUR PFD I COM 19248C105 701 27,475 SH   DFND 1 27,475 0 0
COMSTOCK RES INC NOTE 7.750% 4/0 205768AM6 27 29,162 SH   DFND   29,162 0 0
COMSTOCK RES INC NOTE 9.500% 6/1 205768AN4 127 136,385 SH   DFND   136,385 0 0
COSTCO WHSL CORP NEW COM 22160K105 106 564 SH   DFND   0 0 564
COSTCO WHSL CORP NEW COM 22160K105 252 1,335 SH   DFND 1 1,335 0 0
CUMMINS INC COM 231021106 285 1,760 SH   DFND   0 0 1,760
DISNEY WALT CO COM DISNEY 254687106 202 2,012 SH   DFND   0 0 2,012
DISNEY WALT CO COM DISNEY 254687106 231 2,298 SH   DFND 1 2,298 0 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 19 930 SH   DFND   0 0 930
DOUBLELINE INCOME SOLUTIONS COM 258622109 1,547 77,046 SH   DFND 1 77,046 0 0
DOWDUPONT INC COM 26078J100 346 5,427 SH   DFND   0 0 5,427
DXC TECHNOLOGY CO COM 23355L106 32 320 SH   DFND   0 0 320
DXC TECHNOLOGY CO COM 23355L106 478 4,751 SH   DFND 1 4,751 0 0
EATON CORP PLC SHS G29183103 269 3,369 SH   DFND   0 0 3,369
ECO STIM ENERGY SOLUTIONS IN COM 27888D101 184 193,702 SH   DFND 1 193,702 0 0
EMERGE ENERGY SVCS LP COM REP PARTN 29102H108 141 22,900 SH   DFND   0 0 22,900
EMERSON ELEC CO COM 291011104 205 3,007 SH   DFND   0 0 3,007
ENTERPRISE PRODS PARTNERS L COM 293792107 27 1,116 SH   DFND 1 1,116 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 329 13,450 SH   DFND   0 0 13,450
EVERSPIN TECHNOLOGIES INC COM 30041T104 547 72,500 SH   DFND   72,500 0 0
EXXON MOBIL CORP COM 30231G102 39 517 SH   DFND 1 517 0 0
EXXON MOBIL CORP COM 30231G102 208 2,782 SH   DFND   0 0 2,782
FACEBOOK INC CL A 30303M102 495 3,096 SH   DFND   0 0 3,096
FACEBOOK INC CL A 30303M102 574 3,591 SH   DFND 1 3,591 0 0
FERROGLOBE PLC SHS G33856108 1,687 157,181 SH   DFND   157,181 0 0
FERROGLOBE PLC SHS G33856108 7,011 653,443 SH   DFND 1 653,443 0 0
FINJAN HLDGS INC COM NEW 31788H303 853 262,578 SH   DFND   262,578 0 0
FINJAN HLDGS INC COM NEW 31788H303 5,702 1,754,531 SH   DFND 1 1,754,531 0 0
FINTECH ACQUISITION CORP II COM 31810G109 994 100,000 SH   DFND 1 100,000 0 0
FIRST TR EXCH TRD ALPHA FD I EMERG MKT ALPH 33737J182 465 15,865 SH   DFND   0 0 15,865
FIRST TR EXCHANGE TRADED FD TECH ALPHADEX 33734X176 1,394 25,343 SH   DFND   0 0 25,343
FIRST TR EXCHANGE TRADED FD RISNG DIVD ACHIV 33738R506 1,901 63,971 SH   DFND   0 0 63,971
FIRST TR EXCHANGE TRADED FD DORSEY WRIGHT 33738R878 731 27,350 SH   DFND   0 0 27,350
FIRST TR EXCHANGE-TRADED FD PFD SECS INC ETF 33739E108 461 23,700 SH   DFND   0 0 23,700
FIRST TR VALUE LINE DIVID IN SHS 33734H106 502 16,786 SH   DFND   0 0 16,786
FIRST TR EXCHANGE TRADED FD DJ INTERNT IDX 33733E302 595 4,940 SH   DFND   0 0 4,940
FIRST TR EXCH TRADED FD III RIVRFRNT DYN DEV 33739P608 250 3,911 SH   DFND   0 0 3,911
FIRST TR EXCH TRADED FD III RIVRFRNT DYN EUR 33739P806 975 15,000 SH   DFND   0 0 15,000
FIRST TR EXCH TRADED FD III INSTL PFD SECS 33739P855 774 39,700 SH   DFND   0 0 39,700
FIRST TR SR FLOATING RATE 20 COM SHS 33740K101 138 14,733 SH   DFND   0 0 14,733
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 174 10,900 SH   DFND   0 0 10,900
GARRISON CAP INC COM 366554103 19 2,300 SH   DFND   0 0 2,300
GARRISON CAP INC COM 366554103 442 54,435 SH   DFND 1 54,435 0 0
GASTAR EXPL INC NEW COM 36729W202 14 20,000 SH   DFND   0 0 20,000
GENERAL CABLE CORP DEL NEW COM 369300108 289 9,751 SH   DFND   9,751 0 0
GENERAL ELECTRIC CO COM 369604103 56 4,136 SH   DFND 1 4,136 0 0
GENERAL ELECTRIC CO COM 369604103 205 15,192 SH   DFND   0 0 15,192
GLOBAL MED REIT INC COM NEW 37954A204 153 22,025 SH   DFND   0 0 22,025
GLOBAL SHIP LEASE INC NEW SHS A Y27183105 629 572,076 SH   DFND 1 572,076 0 0
GOLDMAN SACHS MLP INC OPP FD COM SHS 38147W103 617 79,344 SH   DFND 1 79,344 0 0
GORDON POINTE ACQUISITION CO COM CLASS A 382788107 1,215 125,000 SH   DFND 1 125,000 0 0
GORES HLDGS II INC COM CL A 382867109 1,500 150,000 SH   DFND 1 150,000 0 0
GORES HLDGS II INC *W EXP 01/13/202 382867117 89 50,000 SH   DFND 1 50,000 0 0
GROUPON INC COM 399473107 1,137 262,016 SH   DFND 1 262,016 0 0
GSV CAP CORP COM 36191J101 35 4,600 SH   DFND 1 4,600 0 0
GSV CAP CORP COM 36191J101 61 8,100 SH   DFND   0 0 8,100
GTY TECHNOLOGY HOLDINGS INC CL A G4182A102 2,478 250,099 SH   DFND 1 250,099 0 0
GTY TECHNOLOGY HOLDINGS INC *W EXP 10/25/202 G4182A128 71 58,333 SH   DFND 1 58,333 0 0
GW PHARMACEUTICALS PLC ADS 36197T103 225 2,000 SH Put DFND   2,000 0 0
HC2 HLDGS INC COM 404139107 1,557 296,002 SH   DFND   296,002 0 0
HC2 HLDGS INC COM 404139107 5,807 1,103,999 SH   DFND 1 1,103,999 0 0
HEALTH INS INNOVATIONS INC COM CL A 42225K106 3,954 136,800 SH   DFND 1 136,800 0 0
HEALTH INS INNOVATIONS INC COM CL A 42225K106 6,098 211,000 SH   DFND   211,000 0 0
HENRY JACK & ASSOC INC COM 426281101 451 3,730 SH   DFND   0 0 3,730
HERBALIFE LTD COM USD SHS G4412G101 1,949 20,000 SH Put DFND   20,000 0 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 4 241 SH   DFND   0 0 241
HEWLETT PACKARD ENTERPRISE C COM 42824C109 970 55,312 SH   DFND 1 55,312 0 0
HI-CRUSH PARTNERS LP COM UNIT LTD 428337109 93 8,800 SH   DFND   0 0 8,800
HI-CRUSH PARTNERS LP COM UNIT LTD 428337109 250 23,630 SH   DFND 1 23,630 0 0
HI-CRUSH PARTNERS LP COM UNIT LTD 428337109 854 80,570 SH   DFND   80,570 0 0
HOME DEPOT INC COM 437076102 242 1,360 SH   DFND 1 1,360 0 0
HOME DEPOT INC COM 437076102 243 1,365 SH   DFND   0 0 1,365
HORMEL FOODS CORP COM 440452100 362 10,544 SH   DFND   0 0 10,544
HORNBECK OFFSHORE SVCS INC N NOTE 1.500% 9/0 440543AN6 210 271,000 SH   DFND   271,000 0 0
HP INC COM 40434L105 2,390 109,048 SH   DFND 1 109,048 0 0
II VI INC COM 902104108 1,023 25,000 SH   DFND   25,000 0 0
ILLINOIS TOOL WKS INC COM 452308109 530 3,383 SH   DFND   0 0 3,383
IMMERSION CORP COM 452521107 1,434 120,000 SH   DFND   120,000 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 299 14,714 SH   DFND 1 14,714 0 0
INSEEGO CORP NOTE 5.500% 6/1 45782BAA2 193 250,000 SH   DFND   250,000 0 0
INTEL CORP COM 458140100 21 400 SH   DFND 1 400 0 0
INTEL CORP COM 458140100 328 6,295 SH   DFND   0 0 6,295
INTERNATIONAL BUSINESS MACHS COM 459200101 275 1,795 SH   DFND   0 0 1,795
INTERNATIONAL BUSINESS MACHS COM 459200101 767 5,000 SH   DFND   5,000 0 0
INVUITY INC COM NEW 46187J205 555 144,100 SH   DFND   144,100 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 196 4,375 SH   DFND   0 0 4,375
ISHARES INC MSCI BRAZIL ETF 464286400 343 7,640 SH   DFND 1 7,640 0 0
ISHARES INC MIN VOL GBL ETF 464286525 1,217 14,523 SH   DFND 1 14,523 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 8 131 SH   DFND 1 131 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 198 3,270 SH   DFND   0 0 3,270
ISHARES TR SELECT DIVID ETF 464287168 861 9,054 SH   DFND 1 9,054 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 407 8,427 SH   DFND 1 8,427 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 407 8,435 SH   DFND   0 0 8,435
ISHARES TR IBOXX INV CP ETF 464287242 1,169 9,959 SH   DFND 1 9,959 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 430 2,773 SH   DFND   0 0 2,773
ISHARES TR LATN AMER 40 ETF 464287390 115 3,070 SH   DFND   0 0 3,070
ISHARES TR LATN AMER 40 ETF 464287390 257 6,849 SH   DFND 1 6,849 0 0
ISHARES TR MSCI EAFE ETF 464287465 935 13,425 SH   DFND   0 0 13,425
ISHARES TR MSCI EAFE ETF 464287465 1,384 19,864 SH   DFND 1 19,864 0 0
ISHARES TR RUS MDCP VAL ETF 464287473 60 693 SH   DFND 1 693 0 0
ISHARES TR RUS MDCP VAL ETF 464287473 398 4,605 SH   DFND   0 0 4,605
ISHARES TR RUS MD CP GR ETF 464287481 71 581 SH   DFND 1 581 0 0
ISHARES TR RUS MD CP GR ETF 464287481 2,307 18,765 SH   DFND   0 0 18,765
ISHARES TR RUS MID CAP ETF 464287499 191 927 SH   DFND   0 0 927
ISHARES TR RUS MID CAP ETF 464287499 3,551 17,199 SH   DFND 1 17,199 0 0
ISHARES TR CORE S&P MCP ETF 464287507 191 1,018 SH   DFND   0 0 1,018
ISHARES TR CORE S&P MCP ETF 464287507 491 2,616 SH   DFND 1 2,616 0 0
ISHARES TR NASDAQ BIOTECH 464287556 27 249 SH   DFND   0 0 249
ISHARES TR NASDAQ BIOTECH 464287556 679 6,357 SH   DFND 1 6,357 0 0
ISHARES TR S&P MC 400GR ETF 464287606 13 61 SH   DFND 1 61 0 0
ISHARES TR S&P MC 400GR ETF 464287606 340 1,556 SH   DFND   0 0 1,556
ISHARES TR RUS 1000 GRW ETF 464287614 280 2,057 SH   DFND 1 2,057 0 0
ISHARES TR RUS 1000 GRW ETF 464287614 384 2,818 SH   DFND   0 0 2,818
ISHARES TR RUS 2000 GRW ETF 464287648 261 1,369 SH   DFND   0 0 1,369
ISHARES TR RUS 2000 GRW ETF 464287648 460 2,416 SH   DFND 1 2,416 0 0
ISHARES TR CORE S&P SCP ETF 464287804 264 3,422 SH   DFND 1 3,422 0 0
ISHARES TR CORE S&P SCP ETF 464287804 509 6,615 SH   DFND   0 0 6,615
ISHARES TR S&P SML 600 GWT 464287887 732 4,208 SH   DFND   0 0 4,208
ISHARES TR MSCI ACWI EX US 464288240 527 10,611 SH   DFND 1 10,611 0 0
ISHARES TR EAFE SML CP ETF 464288273 3 46 SH   DFND 1 46 0 0
ISHARES TR EAFE SML CP ETF 464288273 295 4,519 SH   DFND   0 0 4,519
ISHARES TR JPMORGAN USD EMG 464288281 259 2,299 SH   DFND   0 0 2,299
ISHARES TR JPMORGAN USD EMG 464288281 1,202 10,652 SH   DFND 1 10,652 0 0
ISHARES TR NEW YORK MUN ETF 464288323 1,553 28,347 SH   DFND 1 28,347 0 0
ISHARES TR CALIF MUN BD ETF 464288356 373 6,382 SH   DFND 1 6,382 0 0
ISHARES TR NATIONAL MUN ETF 464288414 1,101 10,108 SH   DFND 1 10,108 0 0
ISHARES TR INTL SEL DIV ETF 464288448 1,794 54,346 SH   DFND 1 54,346 0 0
ISHARES TR 1 3 YR CR BD ETF 464288646 1,986 19,133 SH   DFND 1 19,133 0 0
ISHARES TR GLOBAL MATER ETF 464288695 368 5,448 SH   DFND 1 5,448 0 0
ISHARES TR EAFE GRWTH ETF 464288885 404 5,026 SH   DFND   0 0 5,026
ISHARES TR RUS TP200 GR ETF 464289438 3,379 45,803 SH   DFND   0 0 45,803
ISHARES TR MSCI INDIA ETF 46429B598 20 590 SH   DFND 1 590 0 0
ISHARES TR MSCI INDIA ETF 46429B598 445 13,050 SH   DFND   0 0 13,050
ISHARES TR FLTG RATE NT ETF 46429B655 3,284 64,484 SH   DFND 1 64,484 0 0
ISHARES TR MIN VOL EAFE ETF 46429B689 651 8,831 SH   DFND 1 8,831 0 0
ISHARES TR MIN VOL USA ETF 46429B697 826 15,902 SH   DFND 1 15,902 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 10,319 100,000 SH Put DFND 1 100,000 0 0
ISHARES INC CORE MSCI EMKT 46434G103 287 4,909 SH   DFND   0 0 4,909
ISHARES TR USA MOMENTUM FCT 46432F396 1,077 10,167 SH   DFND   0 0 10,167
ISHARES TR CORE MSCI EAFE 46432F842 682 10,352 SH   DFND 1 10,352 0 0
ITERIS INC COM 46564T107 995 200,688 SH   DFND 1 200,688 0 0
J JILL INC COM 46620W102 88 20,000 SH   DFND 1 20,000 0 0
JOHNSON & JOHNSON COM 478160104 149 1,160 SH   DFND 1 1,160 0 0
JOHNSON & JOHNSON COM 478160104 566 4,413 SH   DFND   0 0 4,413
JPMORGAN CHASE & CO COM 46625H100 26 232 SH   DFND 1 232 0 0
JPMORGAN CHASE & CO COM 46625H100 250 2,271 SH   DFND   0 0 2,271
KAYNE ANDERSON ACQUISITION COM CL A 48661U102 2,056 209,998 SH   DFND 1 209,998 0 0
KAYNE ANDERSON ACQUISITION *W EXP 06/30/202 48661U110 62 66,666 SH   DFND 1 66,666 0 0
KBL MERGER CORP IV UNIT 01/15/2024 48242A203 416 40,000 SH   DFND 1 40,000 0 0
KEARNY FINL CORP MD COM 48716P108 390 30,000 SH   DFND   30,000 0 0
KINDRED BIOSCIENCES INC COM 494577109 1,120 129,513 SH   DFND 1 129,513 0 0
KRATOS DEFENSE & SEC SOLUTIO COM NEW 50077B207 1,219 118,422 SH   DFND 1 118,422 0 0
LADENBURG THALMAN FIN SVCS I COM 50575Q102 491 150,000 SH   DFND 1 150,000 0 0
LIMELIGHT NETWORKS INC COM 53261M104 1,312 319,130 SH   DFND   319,130 0 0
LIMELIGHT NETWORKS INC COM 53261M104 6,876 1,673,040 SH   DFND 1 1,673,040 0 0
LINCOLN ELEC HLDGS INC COM 533900106 263 2,921 SH   DFND   0 0 2,921
LOCKHEED MARTIN CORP COM 539830109 799 2,365 SH   DFND   0 0 2,365
LONESTAR RES US INC CL A VTG 54240F103 4,548 1,048,028 SH   DFND   1,048,028 0 0
LUMENTUM HLDGS INC COM 55024U109 32 500 SH   DFND   0 0 500
LUMENTUM HLDGS INC COM 55024U109 1,099 17,231 SH   DFND 1 17,231 0 0
MAGICJACK VOCALTEC LTD SHS M6787E101 10,497 1,249,600 SH   DFND   1,249,600 0 0
MAMMOTH ENERGY SVCS INC COM 56155L108 481 15,000 SH   DFND   15,000 0 0
MANPOWERGROUP INC COM 56418H100 401 3,483 SH   DFND   0 0 3,483
MARTIN MIDSTREAM PRTNRS L P UNIT L P INT 573331105 304 22,509 SH   DFND 1 22,509 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 15 700 SH   DFND   0 0 700
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 1,058 50,396 SH   DFND 1 50,396 0 0
MATLIN & PARTNERS ACQUISITIO CL A 57682V106 980 100,000 SH   DFND 1 100,000 0 0
MATLIN & PARTNERS ACQUISITIO *W EXP 05/28/202 57682V114 50 100,000 SH   DFND 1 100,000 0 0
MATTERSIGHT CORP COM 577097108 105 50,000 SH   DFND   50,000 0 0
MERCK & CO INC COM 58933Y105 46 852 SH   DFND 1 852 0 0
MERCK & CO INC COM 58933Y105 278 5,104 SH   DFND   0 0 5,104
MICRON TECHNOLOGY INC COM 595112103 104 2,000 SH   DFND   2,000 0 0
MICRON TECHNOLOGY INC COM 595112103 490 9,405 SH   DFND   0 0 9,405
MICROSOFT CORP COM 594918104 959 10,508 SH   DFND   0 0 10,508
MICROSOFT CORP COM 594918104 3,264 35,761 SH   DFND 1 35,761 0 0
MITEL NETWORKS CORP COM 60671Q104 1,603 172,748 SH   DFND   172,748 0 0
MONDELEZ INTL INC CL A 609207105 310 7,419 SH   DFND   0 0 7,419
MONOTYPE IMAGING HOLDINGS IN COM 61022P100 1,066 47,476 SH   DFND 1 47,476 0 0
MONSANTO CO NEW COM 61166W101 223 1,911 SH   DFND   0 0 1,911
NATURAL RESOURCE PARTNERS L COM UNIT LTD PAR 63900P608 694 24,171 SH   DFND   24,171 0 0
NATURAL RESOURCE PARTNERS L COM UNIT LTD PAR 63900P608 1,570 54,700 SH Call DFND   54,700 0 0
NETSCOUT SYS INC COM 64115T104 1,205 45,732 SH   DFND 1 45,732 0 0
NEW MTN FIN CORP COM 647551100 395 30,000 SH   DFND 1 30,000 0 0
NOVAVAX INC COM 670002104 22 10,500 SH   DFND 1 10,500 0 0
NUVEEN BUILD AMER BD FD COM 67074C103 496 23,847 SH   DFND 1 23,847 0 0
NUVEEN CR OPPORTUNITIES 2022 COM 67075U102 450 46,824 SH   DFND   0 0 46,824
NUVEEN HIGH INCOME 2020 TARG COM 67075L102 612 62,363 SH   DFND   0 0 62,363
NUVEEN HIGH INCOME DECMBR 20 COM 67076E107 599 60,786 SH   DFND   0 0 60,786
NUVEEN HIGH INCOME NOVEMBER COM 67077N106 917 94,786 SH   DFND   0 0 94,786
NUVEEN MTG OPPORTUNITY TERM COM 670735109 223 9,383 SH   DFND 1 9,383 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 255 1,030 SH   DFND   0 0 1,030
OAKTREE STRATEGIC INCOME COR COM 67402D104 160 20,300 SH   DFND   20,300 0 0
OHA INVT CORP COM 67091U102 126 90,000 SH   DFND   90,000 0 0
ON SEMICONDUCTOR CORP COM 682189105 1,514 61,898 SH   DFND 1 61,898 0 0
ONE LIBERTY PPTYS INC COM 682406103 434 19,644 SH   DFND 1 19,644 0 0
OOMA INC COM 683416101 1,095 100,441 SH   DFND 1 100,441 0 0
OPKO HEALTH INC COM 68375N103 32 10,000 SH   DFND   0 0 10,000
PAYPAL HLDGS INC COM 70450Y103 317 4,184 SH   DFND   0 0 4,184
PENNANTPARK FLOATING RATE CA COM 70806A106 2,421 184,936 SH   DFND 1 184,936 0 0
PENNANTPARK INVT CORP COM 708062104 2,686 402,120 SH   DFND 1 402,120 0 0
PFIZER INC COM 717081103 183 5,150 SH   DFND 1 5,150 0 0
PFIZER INC COM 717081103 538 15,168 SH   DFND   0 0 15,168
PHYSICIANS RLTY TR COM 71943U104 159 10,200 SH   DFND   0 0 10,200
PIMCO ETF TR ENHNCD LW DUR AC 72201R718 3,017 30,188 SH   DFND 1 30,188 0 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 203 2,000 SH   DFND   0 0 2,000
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 7,768 76,491 SH   DFND 1 76,491 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 578 60,000 SH   DFND 1 60,000 0 0
POWERSHARES ETF TR II PFD PORTFOLIO 73936T565 777 53,197 SH   DFND 1 53,197 0 0
POWERSHARES ETF TRUST DWA MOMENTUM PTF 73935X153 387 7,350 SH   DFND   0 0 7,350
POWERSHARES ETF TRUST HI YLD EQ DVDN 73935X302 501 29,435 SH   DFND   0 0 29,435
POWERSHARES ETF TRUST DYN BIOT & GEN 73935X856 300 6,102 SH   DFND 1 6,102 0 0
POWERSHARES ETF TRUST II DWA EMKT MOM PTF 73936Q207 467 21,732 SH   DFND   0 0 21,732
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 192 1,201 SH   DFND   0 0 1,201
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,222 7,632 SH   DFND 1 7,632 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 24,020 150,000 SH Put DFND   150,000 0 0
POWERSHS DB MULTI SECT COMM DB OIL FUND 73936B507 196 17,564 SH   DFND   0 0 17,564
PRIMO WTR CORP COM 74165N105 1,304 111,358 SH   DFND 1 111,358 0 0
PROCTER AND GAMBLE CO COM 742718109 15 187 SH   DFND 1 187 0 0
PROCTER AND GAMBLE CO COM 742718109 529 6,672 SH   DFND   0 0 6,672
PROSHARES TR PSHS LC COR PLUS 74347R248 387 5,814 SH   DFND   0 0 5,814
RADISYS CORP COM 750459109 62 96,600 SH   DFND   96,600 0 0
RANGER ENERGY SVCS INC COM CL A 75282U104 3,379 415,170 SH   DFND   415,170 0 0
RAYTHEON CO COM NEW 755111507 427 1,976 SH   DFND   0 0 1,976
RED LION HOTELS CORP COM 756764106 1,166 119,594 SH   DFND 1 119,594 0 0
RENT A CTR INC NEW COM 76009N100 876 101,500 SH   DFND   101,500 0 0
RUBICON PROJ INC COM 78112V102 180 100,000 SH   DFND   100,000 0 0
S&W SEED CO COM 785135104 1,137 315,770 SH   DFND 1 315,770 0 0
SACHEM CAP CORP COM 78590A109 1,235 355,850 SH   DFND 1 355,850 0 0
SACHEM CAP CORP COM 78590A109 1,321 380,704 SH   DFND   380,704 0 0
SELECT ENERGY SVCS INC CL A COM 81617J301 5,493 435,267 SH   DFND 1 435,267 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 348 3,440 SH   DFND 1 3,440 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 381 3,759 SH   DFND   0 0 3,759
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 5 184 SH   DFND 1 184 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 855 31,010 SH   DFND   0 0 31,010
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 221 2,972 SH   DFND   0 0 2,972
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 614 9,380 SH   DFND   0 0 9,380
SHERWIN WILLIAMS CO COM 824348106 537 1,369 SH   DFND   0 0 1,369
SHOPIFY INC CL A 82509L107 324 2,600 SH   DFND   0 0 2,600
SIGA TECHNOLOGIES INC COM 826917106 266 43,418 SH   DFND   43,418 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 290 9,252 SH   DFND 1 9,252 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 1,093 10,905 SH   DFND 1 10,905 0 0
SNAP INC CL A 83304A106 170 10,700 SH   DFND   0 0 10,700
SNAP INC CL A 83304A106 529 33,314 SH   DFND 1 33,314 0 0
SOGOU INC ADR REPSTG A 83409V104 456 55,300 SH Put DFND   55,300 0 0
SOLAR SR CAP LTD COM 83416M105 4,480 266,689 SH   DFND 1 266,689 0 0
SOUTHCROSS ENERGY PARTNERS L COM UNIT LTDPT 84130C100 79 48,370 SH   DFND   0 0 48,370
SOUTHWESTERN ENERGY CO COM 845467109 297 68,629 SH   DFND 1 68,629 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 535 2,217 SH   DFND 1 2,217 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 978 4,050 SH   DFND   0 0 4,050
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 967 19,992 SH   DFND 1 19,992 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 1,099 20,930 SH   DFND   0 0 20,930
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 974 2,851 SH   DFND   0 0 2,851
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 206 3,997 SH   DFND   0 0 3,997
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 5 135 SH   DFND 1 135 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 313 8,740 SH   DFND   0 0 8,740
SPDR SERIES TRUST DJ REIT ETF 78464A607 372 4,316 SH   DFND   0 0 4,316
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,207 4,587 SH   DFND   0 0 4,587
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,798 6,834 SH   DFND 1 6,834 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 422 5,043 SH   DFND   0 0 5,043
SPLUNK INC COM 848637104 64 653 SH   DFND   0 0 653
SPLUNK INC COM 848637104 590 6,000 SH   DFND 1 6,000 0 0
SQUARE INC CL A 852234103 248 5,050 SH   DFND   0 0 5,050
STAMPS COM INC COM NEW 852857200 101 500 SH   DFND   0 0 500
STAMPS COM INC COM NEW 852857200 1,131 5,627 SH   DFND 1 5,627 0 0
STARBUCKS CORP COM 855244109 382 6,599 SH   DFND   0 0 6,599
STEWART INFORMATION SVCS COR COM 860372101 313 7,124 SH   DFND 1 7,124 0 0
TELENAV INC COM 879455103 130 23,985 SH   DFND   23,985 0 0
TELENAV INC COM 879455103 6,009 1,112,695 SH   DFND 1 1,112,695 0 0
TEMPUR SEALY INTL INC COM 88023U101 2,237 49,385 SH   DFND   49,385 0 0
TEMPUR SEALY INTL INC COM 88023U101 6,119 135,100 SH   DFND 1 135,100 0 0
THL CR INC COM 872438106 163 21,000 SH   DFND 1 21,000 0 0
TORTOISE MLP FD INC COM 89148B101 828 51,878 SH   DFND 1 51,878 0 0
TRUECAR INC COM 89785L107 1,117 118,102 SH   DFND 1 118,102 0 0
TWITTER INC COM 90184L102 135 4,650 SH   DFND   0 0 4,650
TWITTER INC COM 90184L102 223 7,700 SH   DFND 1 7,700 0 0
UMH PPTYS INC COM 903002103 315 23,480 SH   DFND 1 23,480 0 0
UNION PAC CORP COM 907818108 367 2,733 SH   DFND   0 0 2,733
URBAN EDGE PPTYS COM 91704F104 307 14,365 SH   DFND 1 14,365 0 0
VAIL RESORTS INC COM 91879Q109 554 2,500 SH Put DFND   2,500 0 0
VANGUARD BD INDEX FD INC LONG TERM BOND 921937793 323 3,555 SH   DFND   0 0 3,555
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 52 640 SH   DFND 1 640 0 0
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 1,180 14,433 SH   DFND   0 0 14,433
VANGUARD GROUP DIV APP ETF 921908844 1,576 15,592 SH   DFND 1 15,592 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 359 6,612 SH   DFND 1 6,612 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 135 2,872 SH   DFND   0 0 2,872
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 2,581 54,931 SH   DFND 1 54,931 0 0
VANGUARD INTL EQUITY INDEX F FTSE PACIFIC ETF 922042866 682 9,349 SH   DFND 1 9,349 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 34 587 SH   DFND   0 0 587
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 539 9,273 SH   DFND 1 9,273 0 0
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 2,212 45,228 SH   DFND 1 45,228 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 1,063 13,556 SH   DFND   0 0 13,556
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 4,011 51,143 SH   DFND 1 51,143 0 0
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 721 7,891 SH   DFND 1 7,891 0 0
VANGUARD STAR FD VG TL INTL STK F 921909768 564 9,971 SH   DFND 1 9,971 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 113 2,553 SH   DFND 1 2,553 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 417 9,420 SH   DFND   0 0 9,420
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 328 4,346 SH   DFND   0 0 4,346
VANGUARD INDEX FDS SML CP GRW ETF 922908595 43 263 SH   DFND 1 263 0 0
VANGUARD INDEX FDS SML CP GRW ETF 922908595 564 3,439 SH   DFND   0 0 3,439
VANGUARD INDEX FDS SM CP VAL ETF 922908611 492 3,802 SH   DFND   0 0 3,802
VANGUARD INDEX FDS MID CAP ETF 922908629 54 351 SH   DFND   0 0 351
VANGUARD INDEX FDS MID CAP ETF 922908629 3,476 22,541 SH   DFND 1 22,541 0 0
VANGUARD INDEX FDS LARGE CAP ETF 922908637 5 45 SH   DFND   0 0 45
VANGUARD INDEX FDS LARGE CAP ETF 922908637 9,254 76,343 SH   DFND 1 76,343 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 366 2,578 SH   DFND 1 2,578 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 3,369 23,742 SH   DFND   0 0 23,742
VANGUARD INDEX FDS VALUE ETF 922908744 132 1,276 SH   DFND 1 1,276 0 0
VANGUARD INDEX FDS VALUE ETF 922908744 3,469 33,621 SH   DFND   0 0 33,621
VANGUARD INDEX FDS SMALL CP ETF 922908751 64 439 SH   DFND 1 439 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 183 1,244 SH   DFND   0 0 1,244
VANGUARD INDEX FDS TOTAL STK MKT 922908769 225 1,655 SH   DFND   0 0 1,655
VANGUARD INDEX FDS TOTAL STK MKT 922908769 2,060 15,179 SH   DFND 1 15,179 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 2,452 28,902 SH   DFND 1 28,902 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 79 1,655 SH   DFND 1 1,655 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 239 5,003 SH   DFND   0 0 5,003
VIASAT INC COM 92552V100 26 400 SH   DFND   0 0 400
VIASAT INC COM 92552V100 1,071 16,293 SH   DFND 1 16,293 0 0
VISA INC COM CL A 92826C839 239 1,998 SH   DFND   0 0 1,998
VITAMIN SHOPPE INC NOTE 2.250%12/0 92849EAB7 383 525,000 SH   DFND   525,000 0 0
WESTERN DIGITAL CORP COM 958102105 1,541 16,700 SH   DFND   16,700 0 0
WIDEPOINT CORP COM 967590100 116 200,000 SH   DFND   200,000 0 0
WISDOMTREE TR HEDGED HI YLD BD 97717W430 416 17,411 SH   DFND   0 0 17,411
WISDOMTREE TR GLB US QTLY DIV 97717W844 728 12,222 SH   DFND 1 12,222 0 0
XERIUM TECHNOLOGIES INC COM NEW 98416J118 1,032 160,000 SH   DFND   160,000 0 0