0001442055-17-000006.txt : 20171013 0001442055-17-000006.hdr.sgml : 20171013 20171013102145 ACCESSION NUMBER: 0001442055-17-000006 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170930 FILED AS OF DATE: 20171013 DATE AS OF CHANGE: 20171013 EFFECTIVENESS DATE: 20171013 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: 171135845 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 09-30-2017 09-30-2017 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 10-13-2017 1 294 5220687 false 1 028-06487 First Trust Advisors L. P. INFORMATION TABLE 2 inftable.xml iShares iBonds Dec 2022 AMT-F COM 46435G755 6580 252394 SH SOLE 252394 0 0 3M Company COM 88579Y101 102817 489839 SH SOLE 489839 0 0 Abbott Laboratories COM 002824100 245 4591 SH SOLE 4591 0 0 Accenture PLC COM G1151C101 214 1587 SH SOLE 1587 0 0 Advisory Board Company COM 00762w107 46023 858245 SH SOLE 858245 0 0 Advisory Board Company COM 00762w107 574 10706 SH DFND 01 0 10706 0 Air Products & Chemicals Inc. COM 009158106 14475 95722 SH SOLE 95722 0 0 Alcentra Capital Corporation COM 01374T102 801 74796 SH SOLE 74796 0 0 Alcentra Capital Corporation COM 01374T102 1851 172787 SH DFND 01 0 172787 0 Alcoa Corporation COM 013872106 347 7433 SH SOLE 7433 0 0 Allergan Inc. COM G0177J108 65356 318886 SH SOLE 318886 0 0 Alphabet Inc. - Class A COM 02079K305 3208 3295 SH SOLE 3295 0 0 Alphabet Inc. - Class C COM 02079K107 27712 28894 SH SOLE 28894 0 0 American Express Company COM 025816109 47984 530442 SH SOLE 530442 0 0 American International Group I COM 026874784 69020 1124286 SH SOLE 1124286 0 0 Analog Devices Inc. COM 032654105 41586 482599 SH SOLE 482599 0 0 Annaly Capital Management Inc. COM 035710409 50 4120 SH SOLE 4120 0 0 Annaly Capital Management Inc. COM 035710409 5873 481782 SH DFND 01 0 481782 0 Apollo Investment Corp. COM 03761U106 3367 551102 SH DFND 01 0 551102 0 Ares Capital Corp. COM 04010L103 69075 4214434 SH SOLE 4214434 0 0 Ares Capital Corp. COM 04010L103 13561 827412 SH DFND 01 0 827412 0 Axalta Coating Systems LTD COM G0750C108 26973 932661 SH SOLE 932661 0 0 Bank of America Corp. COM 060505104 213 8419 SH SOLE 8419 0 0 Bank of Marin (CA) COM 063425102 4061 59285 SH SOLE 59285 0 0 Bank of Marin (CA) COM 063425102 530 7734 SH DFND 01 0 7734 0 Barclays 20 Plus Year Treasury COM 464287432 14937 119728 SH SOLE 119728 0 0 Barclays Capital High Yield Bo COM 78464A417 2825 75705 SH SOLE 75705 0 0 Becton Dickinson and Company COM 075887109 16465 84025 SH SOLE 84025 0 0 Belo Sun Mining Corp Com NPV COM 080558109 112 249051 SH SOLE 249051 0 0 Berkshire Hathaway Inc. - B COM 084670702 34550 188467 SH SOLE 188467 0 0 Berkshire Hathaway Inc. - Clas COM 084670108 1374 5 SH SOLE 5 0 0 Black Knight, Inc COM 09215C105 36372 845855 SH SOLE 845855 0 0 Broadridge Financial Solutions COM 11133T103 79850 987997 SH SOLE 987997 0 0 Brown & Brown Inc. COM 115236101 23561 488910 SH SOLE 488910 0 0 Brown & Brown Inc. COM 115236101 421 8745 SH DFND 01 0 8745 0 C.H. Robinson Worldwide Inc. COM 12541W209 34401 452049 SH SOLE 452049 0 0 Cameco Corp. COM 13321L108 159 16413 SH SOLE 16413 0 0 Capitala Finance Corp. COM 14054R106 656 68799 SH SOLE 68799 0 0 Capitala Finance Corp. COM 14054R106 907 95117 SH DFND 01 0 95117 0 Capstead Mortgage Corp. COM 14067E506 19 2009 SH SOLE 2009 0 0 Capstead Mortgage Corp. COM 14067E506 1047 108500 SH DFND 01 0 108500 0 Chevron Corp. COM 166764100 102978 876407 SH SOLE 876407 0 0 Chubb Limited COM H1467J104 104026 729754 SH SOLE 729754 0 0 Cimarex Energy Co. COM 171798101 247 2176 SH SOLE 2176 0 0 CM Finance Inc. COM 12574Q103 848 90711 SH SOLE 90711 0 0 CM Finance Inc. COM 12574Q103 1219 130340 SH DFND 01 0 130340 0 Colgate-Palmolive Co. COM 194162103 97011 1331649 SH SOLE 1331649 0 0 Colony Northstar Inc COM 19625W104 72902 5804266 SH SOLE 5804266 0 0 Commerce Bancshares Inc. COM 200525103 16365 283275 SH SOLE 283275 0 0 Compagnie Financiere Richemont COM 204319107 74934 8193121 SH SOLE 8193121 0 0 Consumer Discret Select Sector COM 81369Y407 4097 45484 SH SOLE 45484 0 0 Consumer Staples Select Sector COM 81369Y308 1715 31778 SH SOLE 31778 0 0 Cullen Frost Bankers Inc. COM 229899109 13433 141518 SH SOLE 141518 0 0 Culp Inc. COM 230215105 3611 110258 SH SOLE 110258 0 0 Culp Inc. COM 230215105 488 14898 SH DFND 01 0 14898 0 CYS Investments Inc COM 12673A108 21 2446 SH SOLE 2446 0 0 CYS Investments Inc COM 12673A108 7857 909380 SH DFND 01 0 909380 0 Diageo (Adr 1:4) COM 25243Q205 124716 943888 SH SOLE 943888 0 0 Digital Realty Trust Inc. COM 253868103 48520 410041 SH SOLE 410041 0 0 Discovery Communications Inc. COM 25470F302 50722 2503556 SH SOLE 2503556 0 0 Donaldson Inc. COM 257651109 15882 345713 SH SOLE 345713 0 0 Dow Jones U.S. Select Dividend COM 464288448 286 8481 SH SOLE 8481 0 0 Dow Jones US Financial Sector COM 464287788 5085 45352 SH SOLE 45352 0 0 Dow Jones US Technology - iSha COM 464287721 7551 50367 SH SOLE 50367 0 0 Dow Jones US Utilities - iShar COM 464287697 1276 9601 SH SOLE 9601 0 0 DowDuPont Inc COM 26078J100 98745 1426336 SH SOLE 1426336 0 0 Eli Lilly & Co. COM 532457108 209 2449 SH SOLE 2449 0 0 Energy Select Sector - SPDR COM 81369Y506 2151 31417 SH SOLE 31417 0 0 EOG Resources COM 26875P101 341 3525 SH SOLE 3525 0 0 ETFS Physical Platinum COM 26922v101 342 3923 SH SOLE 3923 0 0 European ETF - Vanguard COM 922042874 2349 40272 SH SOLE 40272 0 0 Expeditors International of Wa COM 302130109 13051 218031 SH SOLE 218031 0 0 Exponent Inc. COM 30214U102 1285 17387 SH SOLE 17387 0 0 Exponent Inc. COM 30214U102 162 2198 SH DFND 01 0 2198 0 Express Scripts Inc. COM 30219G108 23989 378856 SH SOLE 378856 0 0 Exxon Mobil Corp. COM 30231G102 13109 159910 SH SOLE 159910 0 0 Fastenal Co. COM 311900104 111816 2453192 SH SOLE 2453192 0 0 Fidelity National Financial In COM 31620R303 105801 2229268 SH SOLE 2229268 0 0 Fifth Street Finance Corp. COM 31678A103 172 31380 SH SOLE 31380 0 0 First Majestic Silver Corp. COM 32076V103 117 17091 SH SOLE 17091 0 0 Fortuna Silver Mines Inc COM 349915108 102 23292 SH SOLE 23292 0 0 Forward Air Corp. COM 349853101 3881 67820 SH SOLE 67820 0 0 Forward Air Corp. COM 349853101 556 9722 SH DFND 01 0 9722 0 Franco-Nevada Corp. COM 351858105 349 4502 SH SOLE 4502 0 0 Franklin Electric Co. Inc. COM 353514102 3153 70299 SH SOLE 70299 0 0 Franklin Electric Co. Inc. COM 353514102 396 8820 SH DFND 01 0 8820 0 Franklin Street Properties Cor COM 35471R106 850 80000 SH SOLE 80000 0 0 FS Investment Corp. COM 302635107 2985 353235 SH SOLE 353235 0 0 FS Investment Corp. COM 302635107 2622 310300 SH DFND 01 0 310300 0 Gartner Inc COM 366651107 1009 8108 SH SOLE 8108 0 0 Gartner Inc COM 366651107 158 1272 SH DFND 01 0 1272 0 General Dynamics Corp. COM 369550108 16001 77832 SH SOLE 77832 0 0 General Electric Company COM 369604103 72250 2988020 SH SOLE 2988020 0 0 Gladstone Investment Corp. COM 376546107 279 29360 SH DFND 01 0 29360 0 GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 82649 2035688 SH SOLE 2035688 0 0 Goldman Sachs BDC Inc. COM 38147U107 2224 97465 SH SOLE 97465 0 0 Goldman Sachs BDC Inc. COM 38147U107 1211 53063 SH DFND 01 0 53063 0 Golub Capital BDC Inc. COM 38173M102 4557 242130 SH SOLE 242130 0 0 Golub Capital BDC Inc. COM 38173M102 8182 434730 SH DFND 01 0 434730 0 Graco Inc. COM 384109104 97892 791426 SH SOLE 791426 0 0 Graco Inc. COM 384109104 464 3750 SH DFND 01 0 3750 0 Guggenheim BulletShares Corpor COM 18383M522 5616 264259 SH SOLE 264259 0 0 Guggenheim BulletShares Invest COM 18383M514 5633 261895 SH SOLE 261895 0 0 Guggenheim BulletShares Invest COM 18383M266 5634 263779 SH SOLE 263779 0 0 Guggenheim BulletShares Invest COM 18383M258 5659 264303 SH SOLE 264303 0 0 Guggenheim BulletShares Invest COM 18383M233 16971 809318 SH SOLE 809318 0 0 Guggenheim BulletShares Invest COM 18383M191 3771 181472 SH SOLE 181472 0 0 Halyard Health Inc. COM 40650V100 3989 88590 SH SOLE 88590 0 0 Halyard Health Inc. COM 40650V100 579 12864 SH DFND 01 0 12864 0 Harvest Capital Credit Corp COM 41753F109 223 16699 SH DFND 01 0 16699 0 Health Care Select Sector - SP COM 81369Y209 6316 77282 SH SOLE 77282 0 0 Hercules Technology Growth Cap COM 427096508 2756 213632 SH SOLE 213632 0 0 Hercules Technology Growth Cap COM 427096508 7154 554598 SH DFND 01 0 554598 0 High Yield Corporate Bond Fund COM 464288513 2818 31749 SH SOLE 31749 0 0 Hilton Worldwide Holdings Inc. COM 43300A203 3853 55478 SH SOLE 55478 0 0 Home Depot Inc. COM 437076102 19580 119714 SH SOLE 119714 0 0 Illinois Tool Works Inc. COM 452308109 41382 279681 SH SOLE 279681 0 0 Industrial Select Sector - SPD COM 81369Y704 4961 69868 SH SOLE 69868 0 0 Innophos Holdings Inc COM 45774N108 3953 80354 SH SOLE 80354 0 0 Innophos Holdings Inc COM 45774N108 646 13140 SH DFND 01 0 13140 0 Iron Mountain COM 46284V101 92597 2380376 SH SOLE 2380376 0 0 iShares 7-10 Year Treasury Bon COM 464287440 32635 306371 SH SOLE 306371 0 0 iShares Barclays 1-3 Year Inve COM 464288646 1288 12227 SH SOLE 12227 0 0 iShares Corporate Bond ETF 202 COM 46432FAZ0 13161 492182 SH SOLE 492182 0 0 iShares Corporate ex Financial COM 46432FAK3 9319 377753 SH SOLE 377753 0 0 iShares Corporate ex Financial COM 46432FAN7 18742 762783 SH SOLE 762783 0 0 iShares Corporate iBonds ETF 2 COM 46435GAA0 15141 614484 SH SOLE 614484 0 0 iShares Floating Rate Note Fun COM 46429B655 242 4755 SH SOLE 4755 0 0 iShares Gold Trust COM 464285105 1093 88786 SH SOLE 88786 0 0 iShares iBonds Dec 2021 AMT-Fr COM 46435G789 6623 255801 SH SOLE 255801 0 0 iShares iBonds Sep 2019 Amt Fr COM 46429B564 3085 120676 SH SOLE 120676 0 0 iShares iBonds Sep 2020 Amt Fr COM 46434V571 4425 172180 SH SOLE 172180 0 0 iShares iBoxx Corporate Bond E COM 464287242 4313 35575 SH SOLE 35575 0 0 iShares Interm. Term Corporate COM 464288638 8571 77808 SH SOLE 77808 0 0 iShares MBS Bond ETF COM 464288588 19394 181087 SH SOLE 181087 0 0 iShares MSCI ACWI EX US ETF COM 464288240 6062 125369 SH SOLE 125369 0 0 iShares MSCI Emerging Markets COM 464286475 329 6658 SH SOLE 6658 0 0 iShares Muni Bond 2023 COM 46435G318 1338 52451 SH SOLE 52451 0 0 iShares National AMT-Free Muni COM 464288414 5131 46277 SH SOLE 46277 0 0 iShares Residential Real Estat COM 464288562 3350 52676 SH SOLE 52676 0 0 John Bean Technologies Corp. COM 477839104 2452 24254 SH SOLE 24254 0 0 John Bean Technologies Corp. COM 477839104 332 3286 SH DFND 01 0 3286 0 Johnson & Johnson COM 478160104 132585 1019805 SH SOLE 1019805 0 0 JP Morgan Chase & Company COM 46625H100 686 7184 SH SOLE 7184 0 0 KCAP Financial Inc COM 48668E101 1243 340472 SH DFND 01 0 340472 0 Kemper Corp. COM 488401100 237 4470 SH SOLE 4470 0 0 Kinder Morgan Inc. COM 49456B101 81591 4253950 SH SOLE 4253950 0 0 Kraft Heinz Co. COM 500754106 80341 1035993 SH SOLE 1035993 0 0 Lockheed Martin Corp COM 539830109 16873 54377 SH SOLE 54377 0 0 Lowe's Companies Inc. COM 548661107 28067 351105 SH SOLE 351105 0 0 Luxoft Holding Inc COM G57279104 3483 72873 SH SOLE 72873 0 0 Luxoft Holding Inc COM G57279104 525 10976 SH DFND 01 0 10976 0 M&T Bank Corp. COM 55261F104 15767 97910 SH SOLE 97910 0 0 Main Street Capital Corp. COM 56035L104 1983 49891 SH SOLE 49891 0 0 Main Street Capital Corp. COM 56035L104 1952 49107 SH DFND 01 0 49107 0 Manatuck Hill Mariner Offshore COM 562996983 343 2650 SH SOLE 2650 0 0 Markel Corp. COM 570535104 76945 72047 SH SOLE 72047 0 0 Martin Marietta Materials Inc. COM 573284106 88369 428496 SH SOLE 428496 0 0 Mastercard Inc. - A COM 57636Q104 54770 387893 SH SOLE 387893 0 0 Materials Select Sector - SPDR COM 81369Y100 1232 21693 SH SOLE 21693 0 0 McDonald's Corp. COM 580135101 17227 109952 SH SOLE 109952 0 0 MDU Resources Group Inc. COM 552690109 14329 552176 SH SOLE 552176 0 0 Medley Capital Corp. COM 58503F106 3 507 SH SOLE 507 0 0 Medley Capital Corp. COM 58503F106 3503 586714 SH DFND 01 0 586714 0 Medtronic COM G5960L103 15325 197059 SH SOLE 197059 0 0 Microsoft Corp. COM 594918104 109968 1476276 SH SOLE 1476276 0 0 Monotype Imaging Holdings Inc. COM 61022P100 3312 172026 SH SOLE 172026 0 0 Monotype Imaging Holdings Inc. COM 61022P100 519 26964 SH DFND 01 0 26964 0 Morningstar Inc. COM 617700109 11152 131211 SH SOLE 131211 0 0 Morningstar Inc. COM 617700109 586 6892 SH DFND 01 0 6892 0 Movado Group Inc. COM 624580106 3892 138998 SH SOLE 138998 0 0 Movado Group Inc. COM 624580106 537 19174 SH DFND 01 0 19174 0 MSC Industrial Direct Co. Inc. COM 553530106 37149 491590 SH SOLE 491590 0 0 MTS Systems Corp. COM 553777103 19218 359556 SH SOLE 359556 0 0 MTS Systems Corp. COM 553777103 588 11004 SH DFND 01 0 11004 0 Natus Medical Inc. COM 639050103 38583 1028892 SH SOLE 1028892 0 0 Natus Medical Inc. COM 639050103 573 15269 SH DFND 01 0 15269 0 Nestle SA COM 641069406 14432 172192 SH SOLE 172192 0 0 New Jersey Resources Corp. COM 646025106 16179 383852 SH SOLE 383852 0 0 New Mountain Finance Corp. COM 647551100 4863 341290 SH SOLE 341290 0 0 New Mountain Finance Corp. COM 647551100 8230 577564 SH DFND 01 0 577564 0 NextEra Energy, Inc. COM 65339F101 207 1413 SH SOLE 1413 0 0 Nike Inc. - B COM 654106103 11693 225524 SH SOLE 225524 0 0 Nordstrom Inc. COM 655664100 10937 231955 SH SOLE 231955 0 0 Northern Trust Corporation COM 665859104 106653 1160159 SH SOLE 1160159 0 0 Novartis AG - ADR COM 66987V109 13676 159300 SH SOLE 159300 0 0 NXP Semiconductors N.V. COM N6596X109 47815 422807 SH SOLE 422807 0 0 OFS Capital Corp. COM 67103B100 3132 237814 SH SOLE 237814 0 0 OFS Capital Corp. COM 67103B100 2661 202084 SH DFND 01 0 202084 0 Patterson Companies Inc. COM 703395103 8889 229997 SH SOLE 229997 0 0 Patterson Companies Inc. COM 703395103 447 11555 SH DFND 01 0 11555 0 Paychex Inc. COM 704326107 102182 1704164 SH SOLE 1704164 0 0 PennantPark Floating Rate Capi COM 70806A106 1286 88817 SH SOLE 88817 0 0 PennantPark Floating Rate Capi COM 70806A106 1197 82645 SH DFND 01 0 82645 0 PennantPark Investment Corp. COM 708062104 1238 164828 SH SOLE 164828 0 0 PennantPark Investment Corp. COM 708062104 5671 755081 SH DFND 01 0 755081 0 Pepsico Inc. COM 713448108 126126 1131886 SH SOLE 1131886 0 0 Pfizer Inc. COM 717081103 83252 2331993 SH SOLE 2331993 0 0 Pimco Enhanced Short Maturity COM 72201R833 242 2375 SH SOLE 2375 0 0 Pioneer Natural Resources Co. COM 723787107 228 1543 SH SOLE 1543 0 0 Polaris Industries COM 731068102 115617 1105013 SH SOLE 1105013 0 0 Potbelly Corp. COM 73754Y100 3249 261976 SH SOLE 261976 0 0 Potbelly Corp. COM 73754Y100 560 45153 SH DFND 01 0 45153 0 Potlatch Corp. COM 737630103 262 5128 SH SOLE 5128 0 0 Praxair Inc. COM 74005P104 102405 732828 SH SOLE 732828 0 0 Procter & Gamble Company COM 742718109 14473 159074 SH SOLE 159074 0 0 Progressive Corp. COM 743315103 97896 2021813 SH SOLE 2021813 0 0 Qualcomm Inc. COM 747525103 545 10504 SH SOLE 10504 0 0 Raven Industries Inc. COM 754212108 4074 125745 SH SOLE 125745 0 0 Raven Industries Inc. COM 754212108 434 13405 SH DFND 01 0 13405 0 Rayonier Inc. COM 754907103 84648 2930023 SH SOLE 2930023 0 0 Rayonier Inc. COM 754907103 557 19288 SH DFND 01 0 19288 0 RBC Bearings Incorporated COM 75524B104 2518 20121 SH SOLE 20121 0 0 RBC Bearings Incorporated COM 75524B104 455 3636 SH DFND 01 0 3636 0 RE/MAX Holdings Inc. COM 75524W108 3162 49755 SH SOLE 49755 0 0 RE/MAX Holdings Inc. COM 75524W108 373 5868 SH DFND 01 0 5868 0 REIT Index - Vanguard COM 922908553 1041 12532 SH SOLE 12532 0 0 Ross Stores COM 778296103 16678 258288 SH SOLE 258288 0 0 Royal Gold, Inc. COM 780287108 360 4182 SH SOLE 4182 0 0 RSP Permian, Inc. COM 74978Q105 228 6602 SH SOLE 6602 0 0 Russell 1000 Value Index - iSh COM 464287598 205 1727 SH SOLE 1727 0 0 Russell 2000 Growth Index - iS COM 464287648 1805 10088 SH SOLE 10088 0 0 Russell 2000 Value Index - iSh COM 464287630 2514 20258 SH SOLE 20258 0 0 Russell Midcap Growth Index Fu COM 464287481 504 4455 SH SOLE 4455 0 0 S&P 500 - SPDR COM 78462F103 3928 15634 SH SOLE 15634 0 0 S&P 500 Growth Index - iShares COM 464287309 552 3850 SH SOLE 3850 0 0 S&P 500 Index Fund - iShares COM 464287200 663 2621 SH SOLE 2621 0 0 S&P 500 Value Index - iShares COM 464287408 622 5762 SH SOLE 5762 0 0 S&P MidCap 400 Growth Index Fu COM 464287606 8415 41586 SH SOLE 41586 0 0 S&P MidCap 400 Value Index Fun COM 464287705 8629 56496 SH SOLE 56496 0 0 S&P SmallCap 600 Growth Index COM 464287887 7522 45732 SH SOLE 45732 0 0 S&P SmallCap 600 Index Fund - COM 464287804 269 3627 SH SOLE 3627 0 0 S&P SmallCap 600 Value Index F COM 464287879 6796 45826 SH SOLE 45826 0 0 Sabina Gold & Silver Co NPV COM 785246109 211 119300 SH SOLE 119300 0 0 Schlumberger Ltd. COM 806857108 39073 560102 SH SOLE 560102 0 0 Seabridge Gold Inc. COM 811916105 210 17198 SH SOLE 17198 0 0 SEI Investments Company COM 784117103 16906 276873 SH SOLE 276873 0 0 Silver Trust - iShares COM 46428Q109 203 12907 SH SOLE 12907 0 0 Snyder's-Lance Inc. COM 833551104 3031 79461 SH SOLE 79461 0 0 Snyder's-Lance Inc. COM 833551104 461 12091 SH DFND 01 0 12091 0 Solar Capital Ltd. COM 83413U100 4172 192789 SH SOLE 192789 0 0 Solar Capital Ltd. COM 83413U100 6399 295709 SH DFND 01 0 295709 0 Solar Senior Capital Ltd. COM 83416M105 950 55146 SH SOLE 55146 0 0 Solar Senior Capital Ltd. COM 83416M105 414 24013 SH DFND 01 0 24013 0 Southern Company COM 842587107 98034 1994985 SH SOLE 1994985 0 0 Southwestern Energy Co. COM 845467109 213 34869 SH SOLE 34869 0 0 SPDR Barclays Intermediate Ter COM 78464A672 1928 32118 SH SOLE 32118 0 0 SPDR Interm. Term Corporate Bo COM 78464A375 15030 435536 SH SOLE 435536 0 0 SPDR Nuveen Barclays Capital M COM 78468R721 9304 190221 SH SOLE 190221 0 0 SPDR Nuveen Barclays Capital S COM 78468R739 377 7748 SH SOLE 7748 0 0 SPDR S&P MidCap 400 ETF Trust COM 78467Y107 208 638 SH SOLE 638 0 0 Starbucks Corporation COM 855244109 39164 729181 SH SOLE 729181 0 0 Stellus Capital Investment COM 858568108 2900 212479 SH SOLE 212479 0 0 Stellus Capital Investment COM 858568108 4370 320126 SH DFND 01 0 320126 0 Stryker Corp. COM 863667101 80977 570177 SH SOLE 570177 0 0 T. Rowe Price Group Inc. COM 74144T108 16099 177598 SH SOLE 177598 0 0 TCP Capital Corp. COM 87238Q103 4068 246676 SH SOLE 246676 0 0 TCP Capital Corp. COM 87238Q103 8276 501863 SH DFND 01 0 501863 0 Techne Corp. COM 09073M104 3375 27921 SH SOLE 27921 0 0 Techne Corp. COM 09073M104 390 3227 SH DFND 01 0 3227 0 The Boston Beer Company Inc. COM 100557107 3500 22410 SH SOLE 22410 0 0 The Boston Beer Company Inc. COM 100557107 667 4272 SH DFND 01 0 4272 0 The Clorox Company COM 189054109 14957 113390 SH SOLE 113390 0 0 The Coca-Cola Company COM 191216100 415 9213 SH SOLE 9213 0 0 Thermo Fisher Scientific Inc. COM 883556102 35903 189760 SH SOLE 189760 0 0 Thermon Group Holdings Inc. COM 88362T103 3533 196368 SH SOLE 196368 0 0 Thermon Group Holdings Inc. COM 88362T103 533 29638 SH DFND 01 0 29638 0 THL Credit, Inc. COM 872438106 2916 312530 SH SOLE 312530 0 0 THL Credit, Inc. COM 872438106 6975 747618 SH DFND 01 0 747618 0 TJX Companies COM 872540109 44289 600690 SH SOLE 600690 0 0 TPG Specialty Lending, Inc. COM 87265K102 3193 152352 SH SOLE 152352 0 0 TPG Specialty Lending, Inc. COM 87265K102 4334 206751 SH DFND 01 0 206751 0 Triangle Capital Corp. COM 895848109 2454 171851 SH SOLE 171851 0 0 Triangle Capital Corp. COM 895848109 4664 326594 SH DFND 01 0 326594 0 TriplePoint Venture Growth BDC COM 89677Y100 2981 222468 SH SOLE 222468 0 0 TriplePoint Venture Growth BDC COM 89677Y100 6350 473845 SH DFND 01 0 473845 0 United Technologies Corp. COM 913017109 32825 282776 SH SOLE 282776 0 0 US Bancorp COM 902973304 254 4745 SH SOLE 4745 0 0 VanEck Vectors Long Municipal COM 92189F536 9225 461946 SH SOLE 461946 0 0 Vanguard Long Term Corporate B COM 92206C813 2912 30925 SH SOLE 30925 0 0 Vanguard MSCI Emerging Markets COM 922042858 6535 149987 SH SOLE 149987 0 0 Vanguard Total Stock Market COM 922908769 311 2402 SH SOLE 2402 0 0 Varex Imaging Corp COM 92214x106 2408 71170 SH SOLE 71170 0 0 Varex Imaging Corp COM 92214x106 248 7321 SH DFND 01 0 7321 0 Varian Medical Systems Inc. COM 92220P105 5335 53321 SH SOLE 53321 0 0 Veritex Holdings COM 923451108 3417 126754 SH SOLE 126754 0 0 Veritex Holdings COM 923451108 530 19669 SH DFND 01 0 19669 0 Visa, Inc. - A COM 92826C839 685 6507 SH SOLE 6507 0 0 Vulcan Materials Co. COM 929160109 262 2189 SH SOLE 2189 0 0 W.R. Berkley Corp. COM 084423102 31486 471775 SH SOLE 471775 0 0 Wells Fargo & Company COM 949746101 358 6497 SH SOLE 6497 0 0 Weyerhaeuser Co. COM 962166104 79655 2340742 SH SOLE 2340742 0 0 Wheaton Precious Metals Corp COM 962879102 271 14203 SH SOLE 14203 0 0 WisdomTree LargeCap Dividend F COM 97717W307 441 5077 SH SOLE 5077 0 0