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: 12-31-2017
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 02-09-2018
[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: 401
Form 13F Information Table Value Total: 383,242
(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
ABBOTT LABS COM 002824100 49 853 SH   DFND 1 0 853 0
ABBOTT LABS COM 002824100 220 3,853 SH   DFND   0 0 3,853
ACACIA RESH CORP ACACIA TCH COM 003881307 851 210,000 SH   DFND 1 0 210,000 0
ACADIA PHARMACEUTICALS INC COM 004225108 602 20,000 SH Put DFND 1 0 20,000 0
AKORN INC COM 009728106 483 15,000 SH   DFND   0 15,000 0
AMAZON COM INC COM 023135106 117 100 SH   DFND 1 0 100 0
AMAZON COM INC COM 023135106 1,682 1,438 SH   DFND   0 0 1,438
APOLLO SR FLOATING RATE FD I COM 037636107 729 44,973 SH   DFND 1 0 44,973 0
APOLLO TACTICAL INCOME FD IN COM 037638103 383 24,333 SH   DFND 1 0 24,333 0
APPLE INC COM 037833100 585 3,456 SH   DFND   0 0 3,456
APPLE INC COM 037833100 1,724 10,186 SH   DFND 1 0 10,186 0
BRT APARTMENTS CORP COM 055645303 1,033 87,631 SH   DFND 1 0 87,631 0
BAIDU INC SPON ADR REP A 056752108 253 1,080 SH   DFND   0 0 1,080
BERKSHIRE HATHAWAY INC DEL CL A 084670108 298 1 SH   DFND 1 0 1 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 175 885 SH   DFND   0 0 885
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 555 2,800 SH   DFND 1 0 2,800 0
BOEING CO COM 097023105 18 60 SH   DFND 1 0 60 0
BOEING CO COM 097023105 425 1,441 SH   DFND   0 0 1,441
BROOKFIELD REAL ASSETS INCOM SHS BEN INT 112830104 256 10,938 SH   DFND 1 0 10,938 0
CARBONITE INC COM 141337105 1,084 43,194 SH   DFND 1 0 43,194 0
CATERPILLAR INC DEL COM 149123101 387 2,459 SH   DFND   0 0 2,459
CHEVRON CORP NEW COM 166764100 66 526 SH   DFND 1 0 526 0
CHEVRON CORP NEW COM 166764100 396 3,166 SH   DFND   0 0 3,166
CLOROX CO DEL COM 189054109 219 1,474 SH   DFND   0 0 1,474
COCA COLA CO COM 191216100 18 400 SH   DFND 1 0 400 0
COCA COLA CO COM 191216100 226 4,919 SH   DFND   0 0 4,919
CUMMINS INC COM 231021106 307 1,738 SH   DFND   0 0 1,738
DISNEY WALT CO COM DISNEY 254687106 146 1,359 SH   DFND   0 0 1,359
DISNEY WALT CO COM DISNEY 254687106 247 2,298 SH   DFND 1 0 2,298 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 19 930 SH   DFND   0 0 930
DOUBLELINE INCOME SOLUTIONS COM 258622109 1,596 79,046 SH   DFND 1 0 79,046 0
ECOLAB INC COM 278865100 1,342 10,000 SH Put DFND 1 0 10,000 0
EMERSON ELEC CO COM 291011104 222 3,183 SH   DFND   0 0 3,183
ENTERPRISE PRODS PARTNERS L COM 293792107 38 1,416 SH   DFND 1 0 1,416 0
ENTERPRISE PRODS PARTNERS L COM 293792107 357 13,450 SH   DFND   0 0 13,450
FIRST TR MORNINGSTAR DIV LEA SHS 336917109 1,115 37,065 SH   DFND   0 0 37,065
FORD MTR CO DEL COM PAR $0.01 345370860 139 11,119 SH   DFND   0 0 11,119
GARRISON CAP INC COM 366554103 27 3,300 SH   DFND   0 0 3,300
GARRISON CAP INC COM 366554103 450 55,435 SH   DFND 1 0 55,435 0
GENERAL ELECTRIC CO COM 369604103 76 4,366 SH   DFND 1 0 4,366 0
GENERAL ELECTRIC CO COM 369604103 163 9,350 SH   DFND   0 0 9,350
GORES HLDGS II INC COM CL A 382867109 1,491 150,000 SH   DFND 1 0 150,000 0
GORES HLDGS II INC *W EXP 03/06/202 382867117 69 50,000 SH   DFND 1 0 50,000 0
GROUPON INC COM 399473107 907 177,879 SH   DFND 1 0 177,879 0
HC2 HLDGS INC COM 404139107 151 25,302 SH   DFND   0 25,302 0
HC2 HLDGS INC COM 404139107 7,304 1,227,601 SH   DFND 1 0 1,227,601 0
HENRY JACK & ASSOC INC COM 426281101 473 4,041 SH   DFND   0 0 4,041
HEXCEL CORP NEW COM 428291108 1,856 30,000 SH Call DFND 1 0 30,000 0
HOME DEPOT INC COM 437076102 217 1,145 SH   DFND   0 0 1,145
HOME DEPOT INC COM 437076102 258 1,360 SH   DFND 1 0 1,360 0
HORMEL FOODS CORP COM 440452100 415 11,411 SH   DFND   0 0 11,411
ILLINOIS TOOL WKS INC COM 452308109 600 3,596 SH   DFND   0 0 3,596
IMMERSION CORP COM 452521107 353 50,000 SH   DFND   0 50,000 0
IMMERSION CORP COM 452521107 494 70,000 SH   DFND 1 0 70,000 0
INTEL CORP COM 458140100 18 400 SH   DFND 1 0 400 0
INTEL CORP COM 458140100 250 5,413 SH   DFND   0 0 5,413
INTERNATIONAL BUSINESS MACHS COM 459200101 276 1,799 SH   DFND   0 0 1,799
ISHARES INC MSCI BRAZIL ETF 464286400 12 300 SH   DFND   0 0 300
ISHARES INC MSCI BRAZIL ETF 464286400 309 7,640 SH   DFND 1 0 7,640 0
ISHARES INC MIN VOL GBL ETF 464286525 1,225 14,523 SH   DFND 1 0 14,523 0
ISHARES TR SELECT DIVID ETF 464287168 1,053 10,685 SH   DFND 1 0 10,685 0
ISHARES TR MSCI EMG MKT ETF 464287234 364 7,724 SH   DFND   0 0 7,724
ISHARES TR MSCI EMG MKT ETF 464287234 397 8,427 SH   DFND 1 0 8,427 0
ISHARES TR IBOXX INV CP ETF 464287242 1,225 10,075 SH   DFND 1 0 10,075 0
ISHARES TR S&P 500 GRWT ETF 464287309 1,007 6,591 SH   DFND   0 0 6,591
ISHARES TR LATN AMER 40 ETF 464287390 105 3,070 SH   DFND   0 0 3,070
ISHARES TR LATN AMER 40 ETF 464287390 233 6,812 SH   DFND 1 0 6,812 0
ISHARES TR MSCI EAFE ETF 464287465 1,085 15,427 SH   DFND   0 0 15,427
ISHARES TR MSCI EAFE ETF 464287465 1,502 21,364 SH   DFND 1 0 21,364 0
ISHARES TR RUS MDCP VAL ETF 464287473 62 693 SH   DFND 1 0 693 0
ISHARES TR RUS MDCP VAL ETF 464287473 422 4,728 SH   DFND   0 0 4,728
ISHARES TR RUS MD CP GR ETF 464287481 70 581 SH   DFND 1 0 581 0
ISHARES TR RUS MD CP GR ETF 464287481 455 3,772 SH   DFND   0 0 3,772
ISHARES TR RUS MID CAP ETF 464287499 177 853 SH   DFND   0 0 853
ISHARES TR RUS MID CAP ETF 464287499 3,630 17,443 SH   DFND 1 0 17,443 0
ISHARES TR CORE S&P MCP ETF 464287507 146 768 SH   DFND   0 0 768
ISHARES TR CORE S&P MCP ETF 464287507 496 2,616 SH   DFND 1 0 2,616 0
ISHARES TR NASDAQ BIOTECH 464287556 27 249 SH   DFND   0 0 249
ISHARES TR NASDAQ BIOTECH 464287556 679 6,357 SH   DFND 1 0 6,357 0
ISHARES TR S&P MC 400GR ETF 464287606 13 61 SH   DFND 1 0 61 0
ISHARES TR S&P MC 400GR ETF 464287606 240 1,111 SH   DFND   0 0 1,111
ISHARES TR RUS 1000 GRW ETF 464287614 277 2,057 SH   DFND 1 0 2,057 0
ISHARES TR RUS 2000 GRW ETF 464287648 451 2,416 SH   DFND 1 0 2,416 0
ISHARES TR RUSSELL 2000 ETF 464287655 16,771 110,000 SH Put DFND 1 0 110,000 0
ISHARES TR U.S. REAL ES ETF 464287739 204 2,524 SH   DFND 1 0 2,524 0
ISHARES TR CORE S&P SCP ETF 464287804 263 3,422 SH   DFND 1 0 3,422 0
ISHARES TR CORE S&P SCP ETF 464287804 596 7,755 SH   DFND   0 0 7,755
ISHARES TR SP SMCP600VL ETF 464287879 402 2,615 SH   DFND   0 0 2,615
ISHARES TR S&P SML 600 GWT 464287887 767 4,509 SH   DFND   0 0 4,509
ISHARES TR MSCI ACWI EX US 464288240 573 11,474 SH   DFND 1 0 11,474 0
ISHARES TR EAFE SML CP ETF 464288273 3 46 SH   DFND 1 0 46 0
ISHARES TR EAFE SML CP ETF 464288273 289 4,482 SH   DFND   0 0 4,482
ISHARES TR JPMORGAN USD EMG 464288281 241 2,077 SH   DFND   0 0 2,077
ISHARES TR JPMORGAN USD EMG 464288281 1,232 10,610 SH   DFND 1 0 10,610 0
ISHARES TR NEW YORK MUN ETF 464288323 1,625 29,132 SH   DFND 1 0 29,132 0
ISHARES TR CALIF MUN BD ETF 464288356 377 6,382 SH   DFND 1 0 6,382 0
ISHARES TR NATIONAL MUN ETF 464288414 1,119 10,108 SH   DFND 1 0 10,108 0
ISHARES TR INTL SEL DIV ETF 464288448 1,857 54,956 SH   DFND 1 0 54,956 0
ISHARES TR 1 3 YR CR BD ETF 464288646 2,000 19,133 SH   DFND 1 0 19,133 0
ISHARES TR GLOBAL MATER ETF 464288695 382 5,448 SH   DFND 1 0 5,448 0
ISHARES TR EAFE GRWTH ETF 464288885 392 4,861 SH   DFND   0 0 4,861
ISHARES TR MSCI EURO FL ETF 464289180 233 10,010 SH   DFND   0 0 10,010
ISHARES TR RUS TP200 GR ETF 464289438 1,665 22,763 SH   DFND   0 0 22,763
ISHARES TR INDIA 50 ETF 464289529 71 1,902 SH   DFND   0 0 1,902
ISHARES TR INDIA 50 ETF 464289529 189 5,099 SH   DFND 1 0 5,099 0
JOHNSON & JOHNSON COM 478160104 162 1,160 SH   DFND 1 0 1,160 0
JOHNSON & JOHNSON COM 478160104 592 4,238 SH   DFND   0 0 4,238
KANDI TECHNOLOGIES GROUP INC COM 483709101 136 20,000 SH   DFND 1 0 20,000 0
LINCOLN ELEC HLDGS INC COM 533900106 286 3,123 SH   DFND   0 0 3,123
LOCKHEED MARTIN CORP COM 539830109 746 2,323 SH   DFND   0 0 2,323
MATTERSIGHT CORP COM 577097108 191 75,000 SH   DFND   0 75,000 0
MCDONALDS CORP COM 580135101 208 1,210 SH   DFND   0 0 1,210
MICRO FOCUS INTERNATIONAL PL SPON ADR NEW 594837304 1 33 SH   DFND   0 0 33
MICRO FOCUS INTERNATIONAL PL SPON ADR NEW 594837304 255 7,595 SH   DFND 1 0 7,595 0
MICROSOFT CORP COM 594918104 169 1,976 SH   DFND   0 0 1,976
MICROSOFT CORP COM 594918104 3,089 36,111 SH   DFND 1 0 36,111 0
MIMEDX GROUP INC COM 602496101 344 27,300 SH   DFND 1 0 27,300 0
MIMEDX GROUP INC COM 602496101 1,261 100,000 SH Put DFND 1 0 100,000 0
MONDELEZ INTL INC CL A 609207105 272 6,360 SH   DFND   0 0 6,360
NMI HLDGS INC CL A 629209305 1,447 85,095 SH   DFND   0 85,095 0
NEW MTN FIN CORP COM 647551100 407 30,000 SH   DFND 1 0 30,000 0
NORTH AMERN ENERGY PARTNERS COM 656844107 466 94,058 SH   DFND 1 0 94,058 0
NOVAVAX INC COM 670002104 13 10,500 SH   DFND 1 0 10,500 0
NUVEEN MTG OPPORTUNITY TERM COM 670735109 232 9,383 SH   DFND 1 0 9,383 0
ON SEMICONDUCTOR CORP COM 682189105 1,392 66,472 SH   DFND 1 0 66,472 0
ONE LIBERTY PPTYS INC COM 682406103 592 22,849 SH   DFND 1 0 22,849 0
OOMA INC COM 683416101 1,061 88,798 SH   DFND 1 0 88,798 0
PENNANTPARK INVT CORP COM 708062104 2,797 404,820 SH   DFND 1 0 404,820 0
PFIZER INC COM 717081103 195 5,390 SH   DFND 1 0 5,390 0
PFIZER INC COM 717081103 424 11,694 SH   DFND   0 0 11,694
PROCTER AND GAMBLE CO COM 742718109 17 187 SH   DFND 1 0 187 0
PROCTER AND GAMBLE CO COM 742718109 602 6,552 SH   DFND   0 0 6,552
RPM INTL INC COM 749685103 220 4,200 SH   DFND   0 0 4,200
RADISYS CORP COM 750459109 201 200,000 SH   DFND   0 200,000 0
RAYTHEON CO COM NEW 755111507 361 1,923 SH   DFND   0 0 1,923
REALTY INCOME CORP COM 756109104 9 150 SH   DFND 1 0 150 0
REALTY INCOME CORP COM 756109104 407 7,132 SH   DFND   0 0 7,132
RED LION HOTELS CORP COM 756764106 1,167 118,483 SH   DFND 1 0 118,483 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 685 176,500 SH   DFND 1 0 176,500 0
ROYAL BK CDA MONTREAL QUE COM 780087102 3,878 47,500 SH Put DFND 1 0 47,500 0
S&W SEED CO COM 785135104 1,221 313,069 SH   DFND 1 0 313,069 0
SHERWIN WILLIAMS CO COM 824348106 602 1,468 SH   DFND   0 0 1,468
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 478 5,483 SH   DFND   0 0 5,483
SPLUNK INC COM 848637104 10 118 SH   DFND   0 0 118
SPLUNK INC COM 848637104 628 7,579 SH   DFND 1 0 7,579 0
STAMPS COM INC COM NEW 852857200 56 300 SH   DFND   0 0 300
STAMPS COM INC COM NEW 852857200 1,189 6,322 SH   DFND 1 0 6,322 0
STARBUCKS CORP COM 855244109 403 7,022 SH   DFND   0 0 7,022
THL CR INC COM 872438106 190 21,000 SH   DFND 1 0 21,000 0
TELENAV INC COM 879455103 5,190 943,716 SH   DFND 1 0 943,716 0
TIME WARNER INC COM NEW 887317303 24 260 SH   DFND   0 0 260
TIME WARNER INC COM NEW 887317303 119 1,300 SH   DFND 1 0 1,300 0
TIME WARNER INC COM NEW 887317303 915 10,000 SH   DFND   0 10,000 0
TONIX PHARMACEUTICALS HLDG C COM 890260409 311 90,000 SH   DFND 1 0 90,000 0
UNION PAC CORP COM 907818108 396 2,956 SH   DFND   0 0 2,956
VANGUARD SPECIALIZED FUNDS DIV APP ETF 921908844 40 389 SH   DFND   0 0 389
VANGUARD SPECIALIZED FUNDS DIV APP ETF 921908844 1,651 16,183 SH   DFND 1 0 16,183 0
VANGUARD STAR FD VG TL INTL STK F 921909768 566 9,971 SH   DFND 1 0 9,971 0
VANGUARD BD INDEX FD INC LONG TERM BOND 921937793 324 3,408 SH   DFND   0 0 3,408
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 54 640 SH   DFND 1 0 640 0
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 1,090 12,998 SH   DFND   0 0 12,998
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 115 2,553 SH   DFND 1 0 2,553 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 452 10,084 SH   DFND   0 0 10,084
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 2,203 45,130 SH   DFND 1 0 45,130 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 396 7,244 SH   DFND 1 0 7,244 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 96 2,097 SH   DFND   0 0 2,097
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 2,514 54,762 SH   DFND 1 0 54,762 0
VANGUARD INTL EQUITY INDEX F FTSE PACIFIC ETF 922042866 675 9,264 SH   DFND 1 0 9,264 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 57 968 SH   DFND   0 0 968
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 548 9,273 SH   DFND 1 0 9,273 0
VANGUARD INDEX FDS MCAP VL IDXVIP 922908512 283 2,540 SH   DFND   0 0 2,540
VANGUARD INDEX FDS REIT ETF 922908553 282 3,401 SH   DFND   0 0 3,401
VANGUARD INDEX FDS SML CP GRW ETF 922908595 51 318 SH   DFND 1 0 318 0
VANGUARD INDEX FDS SML CP GRW ETF 922908595 541 3,365 SH   DFND   0 0 3,365
VANGUARD INDEX FDS SM CP VAL ETF 922908611 486 3,663 SH   DFND   0 0 3,663
VANGUARD INDEX FDS MID CAP ETF 922908629 43 276 SH   DFND   0 0 276
VANGUARD INDEX FDS MID CAP ETF 922908629 3,738 24,148 SH   DFND 1 0 24,148 0
VANGUARD INDEX FDS LARGE CAP ETF 922908637 235 1,919 SH   DFND   0 0 1,919
VANGUARD INDEX FDS LARGE CAP ETF 922908637 9,519 77,654 SH   DFND 1 0 77,654 0
VANGUARD INDEX FDS GROWTH ETF 922908736 363 2,578 SH   DFND 1 0 2,578 0
VANGUARD INDEX FDS GROWTH ETF 922908736 4,614 32,807 SH   DFND   0 0 32,807
VANGUARD INDEX FDS VALUE ETF 922908744 136 1,276 SH   DFND 1 0 1,276 0
VANGUARD INDEX FDS VALUE ETF 922908744 5,303 49,873 SH   DFND   0 0 49,873
VANGUARD INDEX FDS SMALL CP ETF 922908751 65 439 SH   DFND 1 0 439 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 277 1,873 SH   DFND   0 0 1,873
VANGUARD INDEX FDS TOTAL STK MKT 922908769 562 4,093 SH   DFND   0 0 4,093
VANGUARD INDEX FDS TOTAL STK MKT 922908769 2,155 15,702 SH   DFND 1 0 15,702 0
WAL-MART STORES INC COM 931142103 504 5,104 SH   DFND   0 0 5,104
FIRST TR EXCHANGE-TRADED FD PFD SECS INC ETF 33739E108 474 23,700 SH   DFND   0 0 23,700
FIRST TR EXCHANGE TRADED FD DJ INTERNT IDX 33733E302 372 3,390 SH   DFND   0 0 3,390
ALPS ETF TR ALERIAN MLP 00162Q866 140 13,020 SH   DFND 1 0 13,020 0
ALPS ETF TR ALERIAN MLP 00162Q866 207 19,181 SH   DFND   0 0 19,181
AMC ENTMT HLDGS INC CL A COM 00165C104 1,138 75,362 SH   DFND 1 0 75,362 0
AT&T INC COM 00206R102 79 2,042 SH   DFND 1 0 2,042 0
AT&T INC COM 00206R102 355 9,130 SH   DFND   0 0 9,130
ARK ETF TR INNOVATION ETF 00214Q104 561 15,135 SH   DFND   0 0 15,135
ABBVIE INC COM 00287Y109 141 1,453 SH   DFND 1 0 1,453 0
ABBVIE INC COM 00287Y109 403 4,165 SH   DFND   0 0 4,165
ACACIA COMMUNICATIONS INC COM 00401C108 967 26,696 SH   DFND 1 0 26,696 0
ADAMIS PHARMACEUTICALS CORP COM NEW 00547W208 1,022 232,228 SH   DFND 1 0 232,228 0
ADAMAS PHARMACEUTICALS INC COM 00548A106 712 21,000 SH   DFND 1 0 21,000 0
AEHR TEST SYSTEMS COM 00760J108 68 25,000 SH   DFND 1 0 25,000 0
AETNA INC NEW COM 00817Y108 26 146 SH   DFND   0 0 146
AETNA INC NEW COM 00817Y108 902 5,000 SH   DFND   0 5,000 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 237 1,376 SH   DFND   0 0 1,376
ALPHABET INC CAP STK CL C 02079K107 183 175 SH   DFND 1 0 175 0
ALPHABET INC CAP STK CL C 02079K107 278 266 SH   DFND   0 0 266
ALPHABET INC CAP STK CL A 02079K305 38 36 SH   DFND 1 0 36 0
ALPHABET INC CAP STK CL A 02079K305 1,088 1,033 SH   DFND   0 0 1,033
ALTRIA GROUP INC COM 02209S103 54 750 SH   DFND 1 0 750 0
ALTRIA GROUP INC COM 02209S103 339 4,749 SH   DFND   0 0 4,749
AMERI HLDGS INC COM 02362F104 239 77,050 SH   DFND 1 0 77,050 0
APOLLO INVT CORP COM 03761U106 273 48,206 SH   DFND 1 0 48,206 0
ARES CAP CORP COM 04010L103 27 1,715 SH   DFND   0 0 1,715
ARES CAP CORP COM 04010L103 1,206 76,733 SH   DFND 1 0 76,733 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 238 14,489 SH   DFND 1 0 14,489 0
BBX CAP CORP NEW CL A 05491N104 658 82,600 SH   DFND   0 82,600 0
BGC PARTNERS INC CL A 05541T101 160 10,600 SH   DFND   0 0 10,600
BABCOCK & WILCOX ENTERPRIS I COM 05614L100 994 175,000 SH   DFND   0 175,000 0
BARCLAYS BK PLC IPSP CROIL ETN 06738C786 95 14,550 SH   DFND   0 0 14,550
BERRY GLOBAL GROUP INC COM 08579W103 229 3,900 SH   DFND   0 0 3,900
BLACKBERRY LTD COM 09228F103 73 6,550 SH   DFND   0 0 6,550
BLACKBERRY LTD COM 09228F103 217 19,425 SH   DFND 1 0 19,425 0
BLACKSTONE GSO FLTING RTE FU COM 09256U105 180 10,000 SH   DFND 1 0 10,000 0
CISCO SYS INC COM 17275R102 90 2,340 SH   DFND 1 0 2,340 0
CISCO SYS INC COM 17275R102 417 10,888 SH   DFND   0 0 10,888
COHEN & STEERS LTD DUR PFD I COM 19248C105 730 28,006 SH   DFND 1 0 28,006 0
COMSTOCK RES INC NOTE 7.750% 4/0 205768AM6 395 431,876 PRN   DFND   0 431,876 0
COMSTOCK RES INC NOTE 9.500% 6/1 205768AN4 40 44,206 PRN   DFND   0 44,206 0
COSTCO WHSL CORP NEW COM 22160K105 114 613 SH   DFND   0 0 613
COSTCO WHSL CORP NEW COM 22160K105 248 1,335 SH   DFND 1 0 1,335 0
CYTOSORBENTS CORP COM NEW 23283X206 992 152,620 SH   DFND 1 0 152,620 0
DXC TECHNOLOGY CO COM 23355L106 30 320 SH   DFND   0 0 320
DXC TECHNOLOGY CO COM 23355L106 451 4,751 SH   DFND 1 0 4,751 0
DIGITAL TURBINE INC COM NEW 25400W102 526 293,881 SH   DFND   0 293,881 0
DIGITAL TURBINE INC COM NEW 25400W102 935 522,612 SH   DFND 1 0 522,612 0
DOWDUPONT INC COM 26078J100 313 4,398 SH   DFND   0 0 4,398
ECO STIM ENERGY SOLUTIONS IN COM 27888D101 244 193,702 SH   DFND 1 0 193,702 0
EHEALTH INC COM 28238P109 323 18,600 SH   DFND 1 0 18,600 0
EMERGE ENERGY SVCS LP COM REP PARTN 29102H108 165 22,900 SH   DFND   0 0 22,900
EVERSPIN TECHNOLOGIES INC COM 30041T104 370 49,300 SH   DFND 1 0 49,300 0
EVOKE PHARMA INC COM 30049G104 249 110,000 SH   DFND 1 0 110,000 0
EXXON MOBIL CORP COM 30231G102 78 932 SH   DFND 1 0 932 0
EXXON MOBIL CORP COM 30231G102 314 3,756 SH   DFND   0 0 3,756
FACEBOOK INC CL A 30303M102 634 3,591 SH   DFND 1 0 3,591 0
FACEBOOK INC CL A 30303M102 1,274 7,221 SH   DFND   0 0 7,221
FINJAN HLDGS INC COM NEW 31788H303 1,645 761,639 SH   DFND   0 761,639 0
FINJAN HLDGS INC COM NEW 31788H303 3,485 1,613,316 SH   DFND 1 0 1,613,316 0
FINTECH ACQUISITION CORP II COM 31810G109 992 100,000 SH   DFND 1 0 100,000 0
FINTECH ACQUISITION CORP II *W EXP 01/19/202 31810G117 69 50,000 SH   DFND 1 0 50,000 0
FIRST TR VALUE LINE DIVID IN SHS 33734H106 595 19,282 SH   DFND   0 0 19,282
FIRST TR EXCHANGE TRADED FD TECH ALPHADEX 33734X176 1,193 23,237 SH   DFND   0 0 23,237
FIRST TR EXCH TRD ALPHA FD I EMERG MKT ALPH 33737J182 822 29,471 SH   DFND   0 0 29,471
FIRST TR EXCHANGE TRADED FD RISNG DIVD ACHIV 33738R506 1,773 59,346 SH   DFND   0 0 59,346
FIRST TR EXCH TRADED FD III RIVRFRNT DYN EUR 33739P806 490 7,500 SH   DFND   0 0 7,500
FIRST TR EXCH TRADED FD III INSTL PFD SECS 33739P855 709 35,200 SH   DFND   0 0 35,200
FIRST TR SR FLOATING RATE 20 COM SHS 33740K101 119 13,027 SH   DFND   0 0 13,027
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 217 10,900 SH   DFND   0 0 10,900
GNC HLDGS INC NOTE 1.500% 8/1 36191GAB3 6 15,000 PRN   DFND   0 15,000 0
GSV CAP CORP COM 36191J101 25 4,600 SH   DFND 1 0 4,600 0
GSV CAP CORP COM 36191J101 43 7,875 SH   DFND   0 0 7,875
GW PHARMACEUTICALS PLC ADS 36197T103 1,584 12,000 SH Put DFND 1 0 12,000 0
GASTAR EXPL INC NEW COM 36729W202 24 23,000 SH   DFND   0 0 23,000
GLOBAL MED REIT INC COM NEW 37954A204 236 28,724 SH   DFND   0 0 28,724
GOLDMAN SACHS MLP INC OPP FD COM SHS 38147W103 709 79,344 SH   DFND 1 0 79,344 0
HP INC COM 40434L105 2,291 109,048 SH   DFND 1 0 109,048 0
HEALTH INS INNOVATIONS INC COM CL A 42225K106 8,678 347,800 SH   DFND 1 0 347,800 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 3 241 SH   DFND   0 0 241
HEWLETT PACKARD ENTERPRISE C COM 42824C109 794 55,312 SH   DFND 1 0 55,312 0
HORNBECK OFFSHORE SVCS INC N NOTE 1.500% 9/0 440543AN6 186 250,000 PRN   DFND   0 250,000 0
INSEEGO CORP NOTE 5.500% 6/1 45782BAA2 201 250,000 PRN   DFND   0 250,000 0
INVUITY INC COM NEW 46187J205 1,364 220,000 SH   DFND 1 0 220,000 0
ISHARES TR MSCI INDIA ETF 46429B598 21 590 SH   DFND 1 0 590 0
ISHARES TR MSCI INDIA ETF 46429B598 402 11,140 SH   DFND   0 0 11,140
ISHARES TR FLTG RATE NT ETF 46429B655 3,239 63,743 SH   DFND 1 0 63,743 0
ISHARES TR MIN VOL EAFE ETF 46429B689 707 9,690 SH   DFND 1 0 9,690 0
ISHARES TR MIN VOL USA ETF 46429B697 960 18,181 SH   DFND 1 0 18,181 0
ISHARES TR EDGE MSCI USA VL 46432F388 496 5,937 SH   DFND   0 0 5,937
ISHARES TR USA MOMENTUM FCT 46432F396 214 2,077 SH   DFND   0 0 2,077
ISHARES TR CORE MSCI EAFE 46432F842 684 10,352 SH   DFND 1 0 10,352 0
ISHARES INC CORE MSCI EMKT 46434G103 279 4,909 SH   DFND   0 0 4,909
ITERIS INC COM 46564T107 1,102 158,148 SH   DFND 1 0 158,148 0
J JILL INC COM 46620W102 78 10,000 SH   DFND 1 0 10,000 0
JPMORGAN CHASE & CO COM 46625H100 28 262 SH   DFND 1 0 262 0
JPMORGAN CHASE & CO COM 46625H100 228 2,129 SH   DFND   0 0 2,129
KBL MERGER CORP IV UNIT 01/15/2024 48242A203 406 40,000 SH   DFND 1 0 40,000 0
KAYNE ANDERSON ACQUISITION COM CL A 48661U102 2,039 209,998 SH   DFND 1 0 209,998 0
KAYNE ANDERSON ACQUISITION *W EXP 06/30/202 48661U110 55 66,666 SH   DFND 1 0 66,666 0
KRATOS DEFENSE & SEC SOLUTIO COM NEW 50077B207 1,082 102,213 SH   DFND 1 0 102,213 0
LADENBURG THALMAN FIN SVCS I COM 50575Q102 572 181,050 SH   DFND 1 0 181,050 0
LIMELIGHT NETWORKS INC COM 53261M104 2,192 497,043 SH   DFND   0 497,043 0
LIMELIGHT NETWORKS INC COM 53261M104 6,122 1,388,096 SH   DFND 1 0 1,388,096 0
LONESTAR RES US INC CL A VTG 54240F103 4,517 1,137,660 SH   DFND 1 0 1,137,660 0
LUMENTUM HLDGS INC COM 55024U109 1,091 22,301 SH   DFND 1 0 22,301 0
M I ACQUISITIONS INC COM 55304A104 219 21,500 SH   DFND 1 0 21,500 0
MANPOWERGROUP INC COM 56418H100 472 3,740 SH   DFND   0 0 3,740
MATLIN & PARTNERS ACQUISITIO CL A 57682V106 976 100,000 SH   DFND 1 0 100,000 0
MATLIN & PARTNERS ACQUISITIO *W EXP 05/28/202 57682V114 42 100,000 SH   DFND 1 0 100,000 0
MERCK & CO INC COM 58933Y105 48 852 SH   DFND 1 0 852 0
MERCK & CO INC COM 58933Y105 232 4,118 SH   DFND   0 0 4,118
MONSANTO CO NEW COM 61166W101 241 2,062 SH   DFND   0 0 2,062
MONSANTO CO NEW COM 61166W101 1,168 10,000 SH   DFND   0 10,000 0
NII HLDGS INC COM PAR 62913F508 127 300,000 SH   DFND   0 300,000 0
NATURAL RESOURCE PARTNERS L COM UNIT LTD PAR 63900P608 2,340 90,000 SH Call DFND 1 0 90,000 0
NAVISTAR INTL CORP NEW NOTE 4.500%10/1 63934EAQ1 21 20,000 PRN   DFND   0 20,000 0
NETSCOUT SYS INC COM 64115T104 1,073 35,243 SH   DFND 1 0 35,243 0
NUVEEN BUILD AMER BD FD COM 67074C103 524 23,847 SH   DFND 1 0 23,847 0
NUVEEN HIGH INCOME 2020 TARG COM 67075L102 1,236 124,035 SH   DFND   0 0 124,035
NUVEEN CR OPPORTUNITIES 2022 COM 67075U102 465 49,000 SH   DFND   0 0 49,000
NUVEEN HIGH INCOME NOVEMBER COM 67077N106 958 96,141 SH   DFND   0 0 96,141
OHA INVT CORP COM 67091U102 173 150,000 SH   DFND   0 150,000 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 266 1,107 SH   DFND   0 0 1,107
OAKTREE STRATEGIC INCOME COR COM 67402D104 355 42,273 SH   DFND 1 0 42,273 0
OPKO HEALTH INC COM 68375N103 49 10,000 SH   DFND   0 0 10,000
PAYPAL HLDGS INC COM 70450Y103 323 4,381 SH   DFND   0 0 4,381
PENNANTPARK FLOATING RATE CA COM 70806A106 2,537 184,936 SH   DFND 1 0 184,936 0
PHYSICIANS RLTY TR COM 71943U104 302 16,781 SH   DFND   0 0 16,781
PIMCO ETF TR ENHNCD LW DUR AC 72201R718 2,993 29,829 SH   DFND 1 0 29,829 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 1,501 14,780 SH   DFND   0 0 14,780
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 7,831 77,103 SH   DFND 1 0 77,103 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 595 60,000 SH   DFND 1 0 60,000 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 92 592 SH   DFND   0 0 592
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,224 7,859 SH   DFND 1 0 7,859 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 30,436 195,400 SH Put DFND 1 0 195,400 0
POWERSHARES ETF TRUST HI YLD EQ DVDN 73935X302 1,252 70,281 SH   DFND   0 0 70,281
POWERSHARES ETF TRUST DYN BIOT & GEN 73935X856 288 6,102 SH   DFND 1 0 6,102 0
POWERSHARES ETF TRUST II CEF INC COMPST 73936Q843 211 8,830 SH   DFND 1 0 8,830 0
POWERSHARES ETF TR II PFD PORTFOLIO 73936T565 784 52,753 SH   DFND 1 0 52,753 0
PRIMO WTR CORP COM 74165N105 1,076 85,580 SH   DFND 1 0 85,580 0
RANGER ENERGY SVCS INC COM CL A 75282U104 2,598 281,432 SH   DFND 1 0 281,432 0
RENEWABLE ENERGY GROUP INC MTNF 2.750% 6/1 75972AAA1 118 114,000 PRN   DFND   0 114,000 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W106 2,361 23,366 SH   DFND   0 0 23,366
SPDR S&P 500 ETF TR TR UNIT 78462F103 971 3,638 SH   DFND   0 0 3,638
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,917 7,184 SH   DFND 1 0 7,184 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 6,672 25,000 SH Put DFND   0 25,000 0
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 977 19,907 SH   DFND 1 0 19,907 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 1,037 19,949 SH   DFND   0 0 19,949
SPDR INDEX SHS FDS MSCI ACWI EXUS 78463X848 216 5,550 SH   DFND   0 0 5,550
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 417 8,244 SH   DFND   0 0 8,244
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 2 64 SH   DFND 1 0 64 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 313 8,531 SH   DFND   0 0 8,531
SPDR SERIES TRUST DJ REIT ETF 78464A607 360 3,843 SH   DFND   0 0 3,843
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 641 2,592 SH   DFND 1 0 2,592 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 4,106 16,597 SH   DFND   0 0 16,597
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 1,130 3,273 SH   DFND   0 0 3,273
SACHEM CAP CORP COM 78590A109 1,374 348,619 SH   DFND   0 348,619 0
SACHEM CAP CORP COM 78590A109 1,402 355,850 SH   DFND 1 0 355,850 0
SANOFI RIGHT 12/31/2020 80105N113 0 17 SH   DFND 1 0 17 0
SANOFI RIGHT 12/31/2020 80105N113 76 200,029 SH   DFND   0 200,029 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 245 4,050 SH   DFND   0 0 4,050
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 200 2,029 SH   DFND   0 0 2,029
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 339 3,440 SH   DFND 1 0 3,440 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 5 184 SH   DFND 1 0 184 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 749 26,844 SH   DFND   0 0 26,844
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 401 6,272 SH   DFND   0 0 6,272
SELECT ENERGY SVCS INC CL A COM 81617J301 46 2,500 SH   DFND   0 2,500 0
SELECT ENERGY SVCS INC CL A COM 81617J301 2,790 152,964 SH   DFND 1 0 152,964 0
SENSUS HEATLHCARE INC *W EXP 06/08/201 81728J117 115 163,651 SH   DFND 1 0 163,651 0
SERVICESOURCE INTL INC COM 81763U100 77 25,000 SH   DFND   0 25,000 0
SKYWORKS SOLUTIONS INC COM 83088M102 1,014 10,674 SH   DFND 1 0 10,674 0
SNAP INC CL A 83304A106 9 600 SH   DFND   0 0 600
SNAP INC CL A 83304A106 277 18,963 SH   DFND 1 0 18,963 0
SOLAR SR CAP LTD COM 83416M105 4,754 267,689 SH   DFND 1 0 267,689 0
SOUTHCROSS ENERGY PARTNERS L COM UNIT LTDPT 84130C100 82 48,370 SH   DFND   0 0 48,370
SYNCHRONOSS TECHNOLOGIES INC COM 87157B103 268 30,000 SH   DFND   0 30,000 0
TEMPUR SEALY INTL INC COM 88023U101 5,335 85,100 SH   DFND 1 0 85,100 0
TORTOISE MLP FD INC COM 89148B101 889 50,610 SH   DFND 1 0 50,610 0
TRUECAR INC COM 89785L107 1,038 92,722 SH   DFND 1 0 92,722 0
TWITTER INC COM 90184L102 77 3,200 SH   DFND   0 0 3,200
TWITTER INC COM 90184L102 185 7,700 SH   DFND 1 0 7,700 0
USANA HEALTH SCIENCES INC COM 90328M107 359 4,842 SH   DFND 1 0 4,842 0
U S GEOTHERMAL INC COM NEW 90338S201 345 100,000 SH   DFND   0 100,000 0
ULTRAGENYX PHARMACEUTICAL IN COM 90400D108 213 4,600 SH   DFND 1 0 4,600 0
URBAN EDGE PPTYS COM 91704F104 368 14,422 SH   DFND 1 0 14,422 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 239 10,270 SH   DFND   0 0 10,270
VANECK VECTORS ETF TR BIOTECH ETF 92189F726 202 1,619 SH   DFND 1 0 1,619 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 1,045 13,172 SH   DFND   0 0 13,172
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,751 47,304 SH   DFND 1 0 47,304 0
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 765 7,991 SH   DFND 1 0 7,991 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 2,577 29,485 SH   DFND 1 0 29,485 0
VERIZON COMMUNICATIONS INC COM 92343V104 98 1,855 SH   DFND 1 0 1,855 0
VERIZON COMMUNICATIONS INC COM 92343V104 283 5,340 SH   DFND   0 0 5,340
VIASAT INC COM 92552V100 1,121 14,971 SH   DFND 1 0 14,971 0
VONAGE HLDGS CORP COM 92886T201 701 68,900 SH   DFND 1 0 68,900 0
WILDHORSE RESOURCE DEV CORP COM 96812T102 640 34,746 SH   DFND 1 0 34,746 0
WISDOMTREE TR GLB US QTLY DIV 97717W844 723 12,222 SH   DFND 1 0 12,222 0
XERIUM TECHNOLOGIES INC COM NEW 98416J118 362 85,000 SH   DFND 1 0 85,000 0
AVISTA HEALTHCARE PUB ACQ CO CL A G0726L125 992 100,000 SH   DFND 1 0 100,000 0
EATON CORP PLC SHS G29183103 259 3,274 SH   DFND   0 0 3,274
FABRINET SHS G3323L100 997 34,748 SH   DFND 1 0 34,748 0
FERROGLOBE PLC SHS G33856108 7,743 477,986 SH   DFND 1 0 477,986 0
GTY TECHNOLOGY HOLDINGS INC CL A G4182A102 2,483 250,099 SH   DFND 1 0 250,099 0
GTY TECHNOLOGY HOLDINGS INC *W EXP 99/99/999 G4182A128 73 58,333 SH   DFND 1 0 58,333 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 15 700 SH   DFND   0 0 700
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 1,080 50,292 SH   DFND 1 0 50,292 0
APTIV PLC SHS G6095L109 7 83 SH   DFND   0 0 83
APTIV PLC SHS G6095L109 334 3,939 SH   DFND 1 0 3,939 0
SINA CORP ORD G81477104 234 2,330 SH   DFND   0 0 2,330
MAGICJACK VOCALTEC LTD SHS M6787E101 10,559 1,249,600 SH   DFND   0 1,249,600 0
TRONOX LTD SHS CL A Q9235V101 506 24,673 SH   DFND 1 0 24,673 0
GLOBAL SHIP LEASE INC NEW SHS A Y27183105 1,005 866,072 SH   DFND 1 0 866,072 0