0001442055-17-000004.txt : 20170406 0001442055-17-000004.hdr.sgml : 20170406 20170406164910 ACCESSION NUMBER: 0001442055-17-000004 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170331 FILED AS OF DATE: 20170406 DATE AS OF CHANGE: 20170406 EFFECTIVENESS DATE: 20170406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONFLUENCE INVESTMENT MANAGEMENT LLC CENTRAL INDEX KEY: 0001442056 IRS NUMBER: 261764456 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13334 FILM NUMBER: 17746526 BUSINESS ADDRESS: STREET 1: 20 ALLEN AVENUE, SUITE 300 CITY: ST. LOUIS STATE: MO ZIP: 63119 BUSINESS PHONE: 314-743-5090 MAIL ADDRESS: STREET 1: 20 ALLEN AVENUE, SUITE 300 CITY: ST. LOUIS STATE: MO ZIP: 63119 13F-HR 1 primary_doc.xml 13F-HR LIVE false true false 0001442056 XXXXXXXX 03-31-2017 03-31-2017 CONFLUENCE INVESTMENT MANAGEMENT LLC

20 ALLEN AVENUE, SUITE 300 ST. LOUIS MO 63119

13F COMBINATION REPORT 028-13334 028-06487 First Trust Advisors L.P. N Joseph John Hanzlik 3144529050 Joseph John Hanzlik Saint Louis MO 04-06-2017 1 291 4481797 false 1 028-06487 First Trust Advisors L.P. INFORMATION TABLE 2 march201713f1.xml 13F iShares iBonds Dec 2022 AMT-F COM 46435G755 7137 277257 SH SOLE 277257 0 0 3M Company COM 88579Y101 92115 481445 SH SOLE 481445 0 0 Advisory Board Company COM 00762w107 36231 774176 SH SOLE 774176 0 0 Advisory Board Company COM 00762w107 501 10706 SH DFND 0 10706 0 Air Products & Chemicals Inc. COM 009158106 11772 87016 SH SOLE 87016 0 0 Alcentra Capital Corporation COM 01374T102 772 56175 SH SOLE 56175 0 0 Alcentra Capital Corporation COM 01374T102 2031 147787 SH DFND 0 147787 0 Allergan Inc. COM G0177J108 63633 266337 SH SOLE 266337 0 0 Alphabet Inc. - Class A COM 02079K305 2848 3359 SH SOLE 3359 0 0 Alphabet Inc. - Class C COM 02079K107 22988 27711 SH SOLE 27711 0 0 Altria Group Inc. COM 02209S103 342 4789 SH SOLE 4789 0 0 American Express Company COM 025816109 41763 527909 SH SOLE 527909 0 0 American International Group I COM 026874784 57622 922992 SH SOLE 922992 0 0 Analog Devices Inc. COM 032654105 39558 482703 SH SOLE 482703 0 0 Annaly Capital Management Inc. COM 035710409 46 4120 SH SOLE 4120 0 0 Annaly Capital Management Inc. COM 035710409 5086 457782 SH DFND 0 457782 0 Apollo Investment Corp. COM 03761U106 3615 551102 SH DFND 0 551102 0 Ares Capital Corp. COM 04010L103 66704 3837947 SH SOLE 3837947 0 0 Ares Capital Corp. COM 04010L103 14380 827412 SH DFND 0 827412 0 Bank of Marin (CA) COM 063425102 2915 45298 SH SOLE 45298 0 0 Bank of Marin (CA) COM 063425102 363 5634 SH DFND 0 5634 0 Barclays 20 Year Treasury Bon COM 464287432 9581 79375 SH SOLE 79375 0 0 Barclays Capital High Yield Bo COM 78464A417 1854 50191 SH SOLE 50191 0 0 Becton Dickinson and Company COM 075887109 14579 79474 SH SOLE 79474 0 0 Belo Sun Mining Corp Com NPV COM 080558109 122 188997 SH SOLE 188997 0 0 Berkshire Hathaway Inc. - B COM 084670702 29773 178624 SH SOLE 178624 0 0 Berkshire Hathaway Inc. - Clas COM 084670108 1249 5 SH SOLE 5 0 0 Black Knight Financial Service COM 09214X100 5924 154663 SH SOLE 154663 0 0 BlackRock Kelso Capital Corp. COM 092533108 308 40836 SH SOLE 40836 0 0 BlackRock Kelso Capital Corp. COM 092533108 784 103900 SH DFND 0 103900 0 Broadridge Financial Solutions COM 11133T103 65822 968685 SH SOLE 968685 0 0 Brown & Brown Inc. COM 115236101 19776 474018 SH SOLE 474018 0 0 Brown & Brown Inc. COM 115236101 329 7895 SH DFND 0 7895 0 C.H. Robinson Worldwide Inc. COM 12541W209 32288 417757 SH SOLE 417757 0 0 Cameco Corp. COM 13321L108 191 17254 SH SOLE 17254 0 0 Capitala Finance Corp. COM 14054R106 991 69020 SH SOLE 69020 0 0 Capitala Finance Corp. COM 14054R106 1366 95117 SH DFND 0 95117 0 Capstead Mortgage Corp. COM 14067E506 21 2009 SH SOLE 2009 0 0 Capstead Mortgage Corp. COM 14067E506 1144 108500 SH DFND 0 108500 0 Chevron Corp. COM 166764100 84666 788540 SH SOLE 788540 0 0 Chubb Limited COM H1467J104 91987 675131 SH SOLE 675131 0 0 Cimarex Energy Co. COM 171798101 228 1907 SH SOLE 1907 0 0 CM Finance Inc. COM 12574Q103 1083 106747 SH SOLE 106747 0 0 CM Finance Inc. COM 12574Q103 1323 130340 SH DFND 0 130340 0 Colgate-Palmolive Co. COM 194162103 93027 1271035 SH SOLE 1271035 0 0 Commerce Bancshares Inc. COM 200525103 14946 266126 SH SOLE 266126 0 0 Compagnie Financiere Richemont COM 204319107 54357 6915674 SH SOLE 6915674 0 0 Compass Diversified Holdings COM 20451Q104 415 25000 SH DFND 0 25000 0 Consumer Discret Select Sector COM 81369Y407 4964 56436 SH SOLE 56436 0 0 Consumer Staples Select Sector COM 81369Y308 3758 68860 SH SOLE 68860 0 0 Corporate Executive Board Co. COM 125134106 3237 41187 SH SOLE 41187 0 0 Corporate Executive Board Co. COM 125134106 438 5571 SH DFND 0 5571 0 Cullen Frost Bankers Inc. COM 229899109 12096 135952 SH SOLE 135952 0 0 Culp Inc. COM 230215105 1601 51303 SH SOLE 51303 0 0 Culp Inc. COM 230215105 196 6293 SH DFND 0 6293 0 CYS Investments Inc COM 12673A108 19 2446 SH SOLE 2446 0 0 CYS Investments Inc COM 12673A108 6931 871880 SH DFND 0 871880 0 Diageo (Adr 1:4) COM 25243Q205 102009 882583 SH SOLE 882583 0 0 Digital Realty Trust Inc. COM 253868103 42448 398982 SH SOLE 398982 0 0 Discovery Communications Inc. COM 25470F302 55500 1960436 SH SOLE 1960436 0 0 Donaldson Inc. COM 257651109 14901 327359 SH SOLE 327359 0 0 Donnelley Financial Solutions COM 25787G100 13421 695745 SH SOLE 695745 0 0 Donnelley Financial Solutions COM 25787G100 217 11243 SH DFND 0 11243 0 Dow Chemical COM 260543103 775 12193 SH SOLE 12193 0 0 Dow Jones U.S. Select Dividend COM 464288448 418 13299 SH SOLE 13299 0 0 Dow Jones US Financial Sector COM 464287788 6901 66326 SH SOLE 66326 0 0 Dow Jones US Technology - iSha COM 464287721 6644 49152 SH SOLE 49152 0 0 Dow Jones US Utilities - iShar COM 464287697 2299 17903 SH SOLE 17903 0 0 E.I. du Pont de Nemours & Comp COM 263534109 78911 982340 SH SOLE 982340 0 0 Eli Lilly & Co. COM 532457108 206 2449 SH SOLE 2449 0 0 Energy Select Sector - SPDR COM 81369Y506 3614 51708 SH SOLE 51708 0 0 EOG Resources COM 26875P101 350 3583 SH SOLE 3583 0 0 ETFS Physical Platinum COM 26922v101 343 3777 SH SOLE 3777 0 0 Expeditors International of Wa COM 302130109 12017 212722 SH SOLE 212722 0 0 Exponent Inc. COM 30214U102 2245 37694 SH SOLE 37694 0 0 Exponent Inc. COM 30214U102 360 6042 SH DFND 0 6042 0 Express Scripts Inc. COM 30219G108 22411 340021 SH SOLE 340021 0 0 Exxon Mobil Corp. COM 30231G102 11785 143699 SH SOLE 143699 0 0 Fastenal Co. COM 311900104 88925 1726699 SH SOLE 1726699 0 0 Fidelity National Financial In COM 31620R303 85540 2196717 SH SOLE 2196717 0 0 First Majestic Silver Corp. COM 32076V103 129 15888 SH SOLE 15888 0 0 Fortuna Silver Mines Inc COM 349915108 127 24445 SH SOLE 24445 0 0 Forward Air Corp. COM 349853101 2890 60757 SH SOLE 60757 0 0 Forward Air Corp. COM 349853101 379 7972 SH DFND 0 7972 0 Franco-Nevada Corp. COM 351858105 309 4713 SH SOLE 4713 0 0 Franklin Electric Co. Inc. COM 353514102 2467 57297 SH SOLE 57297 0 0 Franklin Electric Co. Inc. COM 353514102 311 7220 SH DFND 0 7220 0 Franklin Street Properties Cor COM 35471R106 728 60000 SH SOLE 60000 0 0 FS Investment Corp. COM 302635107 3999 408035 SH SOLE 408035 0 0 FS Investment Corp. COM 302635107 3041 310300 SH DFND 0 310300 0 General Dynamics Corp. COM 369550108 13673 73038 SH SOLE 73038 0 0 General Electric Company COM 369604103 56970 1911730 SH SOLE 1911730 0 0 Gladstone Commercial Corp. COM 376536108 2725 131839 SH SOLE 131839 0 0 Gladstone Commercial Corp. COM 376536108 317 15350 SH DFND 0 15350 0 Gladstone Investment Corp. COM 376546107 1293 142533 SH DFND 0 142533 0 GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 75474 1790184 SH SOLE 1790184 0 0 Goldman Sachs BDC Inc. COM 38147U107 1957 79431 SH SOLE 79431 0 0 Goldman Sachs BDC Inc. COM 38147U107 1307 53063 SH DFND 0 53063 0 Golub Capital BDC Inc. COM 38173M102 4993 251142 SH SOLE 251142 0 0 Golub Capital BDC Inc. COM 38173M102 9040 454730 SH DFND 0 454730 0 Graco Inc. COM 384109104 83531 887310 SH SOLE 887310 0 0 Graco Inc. COM 384109104 353 3750 SH DFND 0 3750 0 Guggenheim BulletShares Corpor COM 18383M530 5169 243485 SH SOLE 243485 0 0 Guggenheim BulletShares Corpor COM 18383M522 5177 243871 SH SOLE 243871 0 0 Guggenheim BulletShares Invest COM 18383M514 5192 242712 SH SOLE 242712 0 0 Guggenheim BulletShares Invest COM 18383M266 5175 244678 SH SOLE 244678 0 0 Guggenheim BulletShares Invest COM 18383M258 5176 245875 SH SOLE 245875 0 0 Guggenheim BulletShares Invest COM 18383M233 10627 516708 SH SOLE 516708 0 0 Guggenheim BulletShares Invest COM 18383M191 2789 137256 SH SOLE 137256 0 0 Haemonetics Corporation COM 405024100 2014 49638 SH SOLE 49638 0 0 Haemonetics Corporation COM 405024100 216 5315 SH DFND 0 5315 0 Hallador Energy Company COM 40609P105 259 32378 SH SOLE 32378 0 0 Halyard Health Inc. COM 40650V100 3020 79288 SH SOLE 79288 0 0 Halyard Health Inc. COM 40650V100 380 9964 SH DFND 0 9964 0 Harvest Capital Credit Corp COM 41753F109 220 16699 SH DFND 0 16699 0 Health Care Select Sector - SP COM 81369Y209 5609 75433 SH SOLE 75433 0 0 Hercules Technology Growth Cap COM 427096508 3303 218329 SH SOLE 218329 0 0 Hercules Technology Growth Cap COM 427096508 7635 504598 SH DFND 0 504598 0 High Yield Corporate Bond Fund COM 464288513 1845 21019 SH SOLE 21019 0 0 Hilton Worldwide Holdings Inc. COM 43300A203 3375 57724 SH SOLE 57724 0 0 Home Depot Inc. COM 437076102 17158 116854 SH SOLE 116854 0 0 Illinois Tool Works Inc. COM 452308109 34860 263152 SH SOLE 263152 0 0 Industrial Select Sector - SPD COM 81369Y704 4991 76721 SH SOLE 76721 0 0 Iron Mountain COM 46284V101 77509 2172956 SH SOLE 2172956 0 0 iShares 10 Year Credit Bond E COM 464289511 2442 41218 SH SOLE 41218 0 0 iShares 7-10 Year Treasury Bon COM 464287440 28986 274517 SH SOLE 274517 0 0 iShares Barclays 1-3 Year Inve COM 464288646 593 5634 SH SOLE 5634 0 0 iShares Corporate Bond ETF 202 COM 46432FAZ0 12093 457927 SH SOLE 457927 0 0 iShares Corporate ex Financial COM 46432FAG2 13747 557024 SH SOLE 557024 0 0 iShares Corporate ex Financial COM 46432FAK3 8595 348957 SH SOLE 348957 0 0 iShares Corporate ex Financial COM 46432FAN7 17287 709660 SH SOLE 709660 0 0 iShares Gold Trust COM 464285105 1117 92973 SH SOLE 92973 0 0 iShares iBonds Dec 2021 AMT-Fr COM 46435G789 5921 230931 SH SOLE 230931 0 0 iShares iBonds Sep 2019 Amt Fr COM 46429B564 2923 114476 SH SOLE 114476 0 0 iShares iBonds Sep 2020 Amt Fr COM 46434V571 4167 163037 SH SOLE 163037 0 0 iShares iBoxx Corporate Bond E COM 464287242 2869 24335 SH SOLE 24335 0 0 iShares Interm. Term Corporate COM 464288638 6963 63902 SH SOLE 63902 0 0 iShares MBS Bond ETF COM 464288588 17481 164060 SH SOLE 164060 0 0 iShares National AMT-Free Muni COM 464288414 4657 42742 SH SOLE 42742 0 0 iShares Residential Real Estat COM 464288562 2652 41996 SH SOLE 41996 0 0 John Bean Technologies Corp. COM 477839104 2219 25234 SH SOLE 25234 0 0 John Bean Technologies Corp. COM 477839104 289 3286 SH DFND 0 3286 0 Johnson & Johnson COM 478160104 120835 970170 SH SOLE 970170 0 0 JP Morgan Chase & Company COM 46625H100 337 3840 SH SOLE 3840 0 0 KCAP Financial Inc COM 48668E101 1386 340472 SH DFND 0 340472 0 Kinder Morgan Inc. COM 49456B101 70812 3257214 SH SOLE 3257214 0 0 Kohl's Corp. COM 500255104 46259 1161984 SH SOLE 1161984 0 0 Kraft Heinz Co. COM 500754106 81100 893078 SH SOLE 893078 0 0 Lockheed Martin Corp COM 539830109 13611 50862 SH SOLE 50862 0 0 Lowe's Companies Inc. COM 548661107 47488 577638 SH SOLE 577638 0 0 M&T Bank Corp. COM 55261F104 14234 91995 SH SOLE 91995 0 0 Main Street Capital Corp. COM 56035L104 2923 76381 SH SOLE 76381 0 0 Main Street Capital Corp. COM 56035L104 1879 49107 SH DFND 0 49107 0 Manatuck Hill Mariner Offshore COM 562996983 347 2650 SH SOLE 2650 0 0 Markel Corp. COM 570535104 59855 61336 SH SOLE 61336 0 0 Martin Marietta Materials Inc. COM 573284106 75035 343805 SH SOLE 343805 0 0 Mastercard Inc. - A COM 57636Q104 45494 404500 SH SOLE 404500 0 0 Materials Select Sector - SPDR COM 81369Y100 1091 20811 SH SOLE 20811 0 0 McDonald's Corp. COM 580135101 13714 105813 SH SOLE 105813 0 0 MDU Resources Group Inc. COM 552690109 14075 514260 SH SOLE 514260 0 0 Medallion Financial Corp COM 583928106 107 53953 SH DFND 0 53953 0 Medley Capital Corp. COM 58503F106 4 507 SH SOLE 507 0 0 Medley Capital Corp. COM 58503F106 4512 586714 SH DFND 0 586714 0 Medtronic COM G5960L103 14974 185877 SH SOLE 185877 0 0 Microsoft Corp. COM 594918104 95030 1442904 SH SOLE 1442904 0 0 Monotype Imaging Holdings Inc. COM 61022P100 3034 150941 SH SOLE 150941 0 0 Monotype Imaging Holdings Inc. COM 61022P100 379 18864 SH DFND 0 18864 0 Morningstar Inc. COM 617700109 12174 154886 SH SOLE 154886 0 0 Morningstar Inc. COM 617700109 377 4792 SH DFND 0 4792 0 MSC Industrial Direct Co. Inc. COM 553530106 20556 200039 SH SOLE 200039 0 0 MTS Systems Corp. COM 553777103 17933 325757 SH SOLE 325757 0 0 MTS Systems Corp. COM 553777103 392 7123 SH DFND 0 7123 0 Natus Medical Inc. COM 639050103 3402 86678 SH SOLE 86678 0 0 Natus Medical Inc. COM 639050103 395 10069 SH DFND 0 10069 0 Nestle SA COM 641069406 12314 160124 SH SOLE 160124 0 0 New Jersey Resources Corp. COM 646025106 14501 366187 SH SOLE 366187 0 0 New Mountain Finance Corp. COM 647551100 5392 361902 SH SOLE 361902 0 0 New Mountain Finance Corp. COM 647551100 8421 565164 SH DFND 0 565164 0 Nike Inc. - B COM 654106103 11280 202413 SH SOLE 202413 0 0 Nordstrom Inc. COM 655664100 10248 220050 SH SOLE 220050 0 0 Northern Trust Corporation COM 665859104 89117 1029300 SH SOLE 1029300 0 0 Novartis AG - ADR COM 66987V109 10765 144940 SH SOLE 144940 0 0 NXP Semiconductors N.V. COM N6596X109 50920 491979 SH SOLE 491979 0 0 Occidental Petroleum Corp. COM 674599105 10738 169470 SH SOLE 169470 0 0 OFS Capital Corp. COM 67103B100 3517 247879 SH SOLE 247879 0 0 OFS Capital Corp. COM 67103B100 2868 202084 SH DFND 0 202084 0 OneBeacon Insurance Group Ltd. COM G67742109 2429 151804 SH SOLE 151804 0 0 OneBeacon Insurance Group Ltd. COM G67742109 352 22020 SH DFND 0 22020 0 Parsley Energy Inc. COM 701877102 236 7271 SH SOLE 7271 0 0 Patterson Companies Inc. COM 703395103 9574 211678 SH SOLE 211678 0 0 Patterson Companies Inc. COM 703395103 405 8955 SH DFND 0 8955 0 Paychex Inc. COM 704326107 86272 1464720 SH SOLE 1464720 0 0 PennantPark Floating Rate Capi COM 70806A106 1374 98591 SH SOLE 98591 0 0 PennantPark Floating Rate Capi COM 70806A106 1152 82645 SH DFND 0 82645 0 PennantPark Investment Corp. COM 708062104 1380 169569 SH SOLE 169569 0 0 PennantPark Investment Corp. COM 708062104 6146 755081 SH DFND 0 755081 0 Pepsico Inc. COM 713448108 116782 1044002 SH SOLE 1044002 0 0 Pfizer Inc. COM 717081103 71025 2076157 SH SOLE 2076157 0 0 Pioneer Natural Resources Co. COM 723787107 260 1397 SH SOLE 1397 0 0 Polaris Industries COM 731068102 61222 730568 SH SOLE 730568 0 0 Potbelly Corp. COM 73754Y100 3136 225584 SH SOLE 225584 0 0 Potbelly Corp. COM 73754Y100 405 29153 SH DFND 0 29153 0 Potlatch Corp. COM 737630103 211 4624 SH SOLE 4624 0 0 Praxair Inc. COM 74005P104 79023 666303 SH SOLE 666303 0 0 Procter & Gamble Company COM 742718109 13138 146220 SH SOLE 146220 0 0 Progressive Corp. COM 743315103 81443 2078688 SH SOLE 2078688 0 0 Qualcomm Inc. COM 747525103 278 4841 SH SOLE 4841 0 0 Raven Industries Inc. COM 754212108 3480 119806 SH SOLE 119806 0 0 Raven Industries Inc. COM 754212108 389 13405 SH DFND 0 13405 0 Rayonier Inc. COM 754907103 74849 2641102 SH SOLE 2641102 0 0 Rayonier Inc. COM 754907103 399 14088 SH DFND 0 14088 0 RBC Bearings Incorporated COM 75524B104 1781 18340 SH SOLE 18340 0 0 RBC Bearings Incorporated COM 75524B104 324 3336 SH DFND 0 3336 0 RE/MAX Holdings Inc. COM 75524W108 13232 222580 SH SOLE 222580 0 0 RE/MAX Holdings Inc. COM 75524W108 349 5868 SH DFND 0 5868 0 REIT ETF- DJ Wilshire COM 78464A607 612 6629 SH SOLE 6629 0 0 REIT Index - Vanguard COM 922908553 3749 45393 SH SOLE 45393 0 0 Royal Gold, Inc. COM 780287108 304 4338 SH SOLE 4338 0 0 RSP Permian, Inc. COM 74978Q105 238 5737 SH SOLE 5737 0 0 Russell 1000 Value Index - iSh COM 464287598 568 4946 SH SOLE 4946 0 0 Russell 2000 Growth Index - iS COM 464287648 2588 16011 SH SOLE 16011 0 0 Russell 2000 Value Index - iSh COM 464287630 4918 41618 SH SOLE 41618 0 0 Russell Midcap Growth Index Fu COM 464287481 5209 50206 SH SOLE 50206 0 0 Russell MidCap Value Index Fun COM 464287473 9654 116326 SH SOLE 116326 0 0 S&P 500 - SPDR COM 78462F103 3262 13836 SH SOLE 13836 0 0 S&P 500 Growth Index - iShares COM 464287309 246 1873 SH SOLE 1873 0 0 S&P 500 Index Fund - iShares COM 464287200 1280 5394 SH SOLE 5394 0 0 S&P 500 Value Index - iShares COM 464287408 578 5557 SH SOLE 5557 0 0 S&P MidCap 400 Growth Index Fu COM 464287606 2988 15651 SH SOLE 15651 0 0 S&P MidCap 400 Value Index Fun COM 464287705 9096 61276 SH SOLE 61276 0 0 S&P SmallCap 600 Growth Index COM 464287887 1084 7084 SH SOLE 7084 0 0 S&P SmallCap 600 Index Fund - COM 464287804 246 3558 SH SOLE 3558 0 0 S&P SmallCap 600 Value Index F COM 464287879 2563 18487 SH SOLE 18487 0 0 S&P SmallCap Energy - PowerSha COM 73937B704 642 35356 SH SOLE 35356 0 0 Sabina Gold & Silver Co NPV COM 785246109 146 125910 SH SOLE 125910 0 0 Sandstorm Gold Ltd. COM 80013R206 194 45320 SH SOLE 45320 0 0 Schlumberger Ltd. COM 806857108 24309 311250 SH SOLE 311250 0 0 SEI Investments Company COM 784117103 13003 257799 SH SOLE 257799 0 0 Silver Trust - iShares COM 46428Q109 240 13887 SH SOLE 13887 0 0 Silver Wheaton Corp. COM 828336107 295 14166 SH SOLE 14166 0 0 Snyder's-Lance Inc. COM 833551104 3049 75638 SH SOLE 75638 0 0 Snyder's-Lance Inc. COM 833551104 383 9491 SH DFND 0 9491 0 Solar Capital Ltd. COM 83413U100 4576 202397 SH SOLE 202397 0 0 Solar Capital Ltd. COM 83413U100 6960 307809 SH DFND 0 307809 0 Solar Senior Capital Ltd. COM 83416M105 1139 63357 SH SOLE 63357 0 0 Solar Senior Capital Ltd. COM 83416M105 449 25000 SH DFND 0 25000 0 Southern Company COM 842587107 83717 1681743 SH SOLE 1681743 0 0 Southwestern Energy Co. COM 845467109 190 23249 SH SOLE 23249 0 0 SPDR Interm. Term Corporate Bo COM 78464A375 13811 404648 SH SOLE 404648 0 0 SPDR Nuveen Barclays Capital M COM 78468R721 8969 187162 SH SOLE 187162 0 0 SPDR S&P MidCap 400 ETF Trust COM 78467Y107 220 703 SH SOLE 703 0 0 Starbucks Corporation COM 855244109 27596 472622 SH SOLE 472622 0 0 Stellus Capital Investment COM 858568108 2641 181515 SH SOLE 181515 0 0 Stellus Capital Investment COM 858568108 3567 245126 SH DFND 0 245126 0 Stryker Corp. COM 863667101 73329 556997 SH SOLE 556997 0 0 T. Rowe Price Group Inc. COM 74144T108 11103 162924 SH SOLE 162924 0 0 TCP Capital Corp. COM 87238Q103 4238 243300 SH SOLE 243300 0 0 TCP Capital Corp. COM 87238Q103 8568 491863 SH DFND 0 491863 0 Techne Corp. COM 09073M104 2647 26037 SH SOLE 26037 0 0 Techne Corp. COM 09073M104 308 3027 SH DFND 0 3027 0 The Boston Beer Company Inc. COM 100557107 2797 19335 SH SOLE 19335 0 0 The Boston Beer Company Inc. COM 100557107 401 2772 SH DFND 0 2772 0 The Clorox Company COM 189054109 14299 106053 SH SOLE 106053 0 0 The Coca-Cola Company COM 191216100 232 5465 SH SOLE 5465 0 0 Thermo Fisher Scientific Inc. COM 883556102 28225 183757 SH SOLE 183757 0 0 Thermon Group Holdings Inc. COM 88362T103 2850 136750 SH SOLE 136750 0 0 Thermon Group Holdings Inc. COM 88362T103 427 20471 SH DFND 0 20471 0 THL Credit, Inc. COM 872438106 3104 311617 SH SOLE 311617 0 0 THL Credit, Inc. COM 872438106 7347 737618 SH DFND 0 737618 0 TJX Companies COM 872540109 39922 504835 SH SOLE 504835 0 0 TPG Specialty Lending, Inc. COM 87265K102 4089 200549 SH SOLE 200549 0 0 TPG Specialty Lending, Inc. COM 87265K102 4216 206751 SH DFND 0 206751 0 Triangle Capital Corp. COM 895848109 3576 187330 SH SOLE 187330 0 0 Triangle Capital Corp. COM 895848109 6235 326594 SH DFND 0 326594 0 TriplePoint Venture Growth BDC COM 89677Y100 3540 253968 SH SOLE 253968 0 0 TriplePoint Venture Growth BDC COM 89677Y100 6605 473845 SH DFND 0 473845 0 United Technologies Corp. COM 913017109 30103 268271 SH SOLE 268271 0 0 VanEck Vectors Long Municipal COM 92189F536 8650 442208 SH SOLE 442208 0 0 Vanguard Long Term Corporate B COM 92206C813 2331 25924 SH SOLE 25924 0 0 Vanguard Total Stock Market COM 922908769 221 1823 SH SOLE 1823 0 0 Varex Imaging Corp COM 92214x106 652 19409 SH SOLE 19409 0 0 Varian Medical Systems Inc. COM 92220P105 5400 59252 SH SOLE 59252 0 0 VCA Antech Inc. COM 918194101 4066 44437 SH SOLE 44437 0 0 VCA Antech Inc. COM 918194101 466 5095 SH DFND 0 5095 0 Visa, Inc. - A COM 92826C839 612 6886 SH SOLE 6886 0 0 Vulcan Materials Co. COM 929160109 277 2301 SH SOLE 2301 0 0 W.R. Berkley Corp. COM 084423102 32025 453419 SH SOLE 453419 0 0 W.W. Grainger Inc. COM 384802104 11461 49240 SH SOLE 49240 0 0 Wells Fargo & Company COM 949746101 229 4121 SH SOLE 4121 0 0 Weyerhaeuser Co. COM 962166104 77490 2280455 SH SOLE 2280455 0 0 WisdomTree LargeCap Dividend F COM 97717W307 857 10339 SH SOLE 10339 0 0