0001442055-18-000005.txt : 20180712 0001442055-18-000005.hdr.sgml : 20180712 20180712092537 ACCESSION NUMBER: 0001442055-18-000005 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180712 DATE AS OF CHANGE: 20180712 EFFECTIVENESS DATE: 20180712 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: 18949752 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 06-30-2018 06-30-2018 CONFLUENCE INVESTMENT MANAGEMENT LLC

20 ALLEN AVENUE, SUITE 300 ST. LOUIS MO 63119

13F HOLDINGS REPORT 028-13334 N Anne Kochevar 314-742-5090 Anne Kochevar St. Louis MO 06-12-2018 1 366 5692344 false 1 0001125816 028-06487 FIRST TRUST ADVISORS LP INFORMATION TABLE 2 inftable.xml 13F 3M Company COM 88579Y101 108379 550932 SH SOLE 550932 0 0 51Job Inc. - ADR COM 316827104 304 3112 SH SOLE 3112 0 0 Abbott Laboratories COM 002824100 899 14746 SH SOLE 14746 0 0 Accenture PLC COM G1151C101 21004 128396 SH SOLE 128181 0 215 AIA Group Lrd COM 001317205 1531 43699 SH SOLE 42794 0 905 Air Products & Chemicals Inc. COM 009158106 15966 102526 SH SOLE 102526 0 0 Alcentra Capital Corporation COM 01374T102 1104 172787 SH DFND 01 0 172787 0 Alibaba Group Holding Ltd COM 01609W102 2147 11571 SH SOLE 11456 0 115 Align Technology Inc. COM 016255101 526 1538 SH SOLE 1538 0 0 Allergan Inc. COM G0177J108 59327 355849 SH SOLE 355849 0 0 Allied Motion Technologies Inc COM 019330109 5959 124459 SH SOLE 124459 0 0 Allied Motion Technologies Inc COM 019330109 799 16688 SH DFND 01 0 16688 0 Alphabet Inc. - Class A COM 02079K305 2499 2213 SH SOLE 2213 0 0 Alphabet Inc. - Class C COM 02079K107 31109 27885 SH SOLE 27885 0 0 Amazon.com, Inc. COM 023135106 250 147 SH SOLE 147 0 0 American Express Company COM 025816109 45104 460245 SH SOLE 460245 0 0 American International Group I COM 026874784 57617 1086700 SH SOLE 1086700 0 0 Analog Devices Inc. COM 032654105 45661 476027 SH SOLE 476027 0 0 Annaly Capital Management Inc. COM 035710409 48 4674 SH SOLE 4674 0 0 Annaly Capital Management Inc. COM 035710409 4958 481782 SH DFND 01 0 481782 0 Apollo Investment Corp. COM 03761U106 1116 200333 SH SOLE 200333 0 0 Apollo Investment Corp. COM 03761U106 3070 551102 SH DFND 01 0 551102 0 Apple Inc. COM 037833100 375 2026 SH SOLE 2026 0 0 APTIV PLC COM G6095L109 1617 17651 SH SOLE 17311 0 340 Ares Capital Corp. COM 04010L103 74150 4507577 SH SOLE 4507577 0 0 Ares Capital Corp. COM 04010L103 11884 722412 SH DFND 01 0 722412 0 Astec Industries COM 046224101 4259 71216 SH SOLE 71216 0 0 Astec Industries COM 046224101 577 9644 SH DFND 01 0 9644 0 Automatic Data Processing, Inc COM 053015103 203 1514 SH SOLE 1514 0 0 Axalta Coating Systems LTD COM G0750C108 66728 2201529 SH SOLE 2201529 0 0 Baidu Inc. ADS COM 056752108 365 1503 SH SOLE 1503 0 0 Banco Bradesco S.A. COM 059460303 230 33501 SH SOLE 33501 0 0 Banco Santander - ADR COM 05964H105 972 182018 SH SOLE 177990 0 4028 Bank of America Corp. COM 060505104 642 22767 SH SOLE 22767 0 0 Bank of Marin (CA) COM 063425102 5201 64328 SH SOLE 64328 0 0 Bank of Marin (CA) COM 063425102 641 7934 SH DFND 01 0 7934 0 Barclays 20 Plus Year Treasury COM 464287432 17593 144539 SH SOLE 144539 0 0 Barclays Capital High Yield Bo COM 78464A417 368 10382 SH SOLE 10382 0 0 Becton Dickinson and Company COM 075887109 20561 85827 SH SOLE 85827 0 0 Belo Sun Mining Corp Com NPV COM 080558109 129 711910 SH SOLE 711910 0 0 Berkshire Hathaway Inc. - B COM 084670702 33815 181170 SH SOLE 181170 0 0 Berkshire Hathaway Inc. - Clas COM 084670108 1410 5 SH SOLE 5 0 0 Black Knight Inc COM 09215C105 115595 2158644 SH SOLE 2158644 0 0 BlackRock, Inc. COM 09247X101 362 725 SH SOLE 725 0 0 BP PLC (Adr 1:6) COM 055622104 1513 33131 SH SOLE 32431 0 700 Broadcom Inc COM 11135F101 353 1455 SH SOLE 1455 0 0 Broadridge Financial Solutions COM 11133T103 102811 893232 SH SOLE 893232 0 0 Brown & Brown Inc. COM 115236101 28491 1027427 SH SOLE 1027427 0 0 Brown & Brown Inc. COM 115236101 540 19490 SH DFND 01 0 19490 0 Byd Company Limited Adr COM 05606L100 227 18302 SH SOLE 18302 0 0 Cambrex Corp COM 132011107 4220 80680 SH SOLE 80680 0 0 Cambrex Corp COM 132011107 650 12419 SH DFND 01 0 12419 0 Capstead Mortgage Corp. COM 14067E506 23 2562 SH SOLE 2562 0 0 Capstead Mortgage Corp. COM 14067E506 971 108500 SH DFND 01 0 108500 0 Chevron Corp. COM 166764100 115782 915778 SH SOLE 915778 0 0 China Southern Airlines Co Ltd COM 169409109 241 6089 SH SOLE 6089 0 0 Chubb Corp COM H1467J104 98890 778543 SH SOLE 778353 0 190 CM Finance Inc. COM 12574Q103 873 98073 SH SOLE 98073 0 0 CM Finance Inc. COM 12574Q103 1160 130340 SH DFND 01 0 130340 0 CNOOC Ltd. COM 126132109 418 2443 SH SOLE 2443 0 0 Colgate-Palmolive Co. COM 194162103 98484 1519578 SH SOLE 1519578 0 0 Commerce Bancshares Inc. COM 200525103 19965 308534 SH SOLE 308534 0 0 Compagnie Financiere Richemont COM 204319107 58866 6991231 SH SOLE 6991231 0 0 Continental Resources, Inc. COM 212015101 300 4639 SH SOLE 4639 0 0 Corporate Capital Trust Inc COM 219880101 1030 65931 SH SOLE 65931 0 0 Corporate Capital Trust Inc COM 219880101 156 10000 SH DFND 01 0 10000 0 Costco Wholesale Corporation COM 22160K105 315 1509 SH SOLE 1509 0 0 CREDICORP LTD COM G2519Y108 351 1561 SH SOLE 1561 0 0 Credit Suisse Group AG COM 225401108 1657 111356 SH SOLE 109641 0 1715 Cullen Frost Bankers Inc. COM 229899109 16412 151628 SH SOLE 151628 0 0 Culp Inc. COM 230215105 3131 127543 SH SOLE 127543 0 0 Culp Inc. COM 230215105 439 17898 SH DFND 01 0 17898 0 CYS Investments Inc COM 12673A108 21 2792 SH SOLE 2792 0 0 CYS Investments Inc COM 12673A108 6970 929380 SH DFND 01 0 929380 0 DBS GROUP HOLDINGS-SPON ADR COM 23304y100 1612 20514 SH SOLE 20089 0 425 Diageo PLC COM 25243Q205 140468 975401 SH SOLE 975196 0 205 Digital Realty Trust Inc. COM 253868103 69323 621289 SH SOLE 621289 0 0 Discovery Communications Inc. COM 25470F302 18536 726906 SH SOLE 726906 0 0 Donaldson Inc. COM 257651109 16659 369212 SH SOLE 369212 0 0 Dow Jones US Financial Sector COM 464287788 1490 12711 SH SOLE 12711 0 0 DowDuPont Inc COM 26078J100 145189 2202498 SH SOLE 2202498 0 0 DSV A/S-Unsponsored ADR COM 26251A108 705 17545 SH SOLE 17180 0 365 Ecopetrol SA COM 279158109 1552 75540 SH SOLE 75010 0 530 Elbit Systems Ltd COM M3760D101 1605 13521 SH SOLE 13261 0 260 Eli Lilly & Co. COM 532457108 209 2449 SH SOLE 2449 0 0 Energy Select Sector - SPDR COM 81369Y506 1394 18353 SH SOLE 18353 0 0 EOG Resources COM 26875P101 780 6268 SH SOLE 6268 0 0 ETFS Physical Platinum COM 26922v101 325 4006 SH SOLE 4006 0 0 European ETF - Vanguard COM 922042874 4520 80521 SH SOLE 80521 0 0 Expeditors International of Wa COM 302130109 15671 214372 SH SOLE 214372 0 0 Exponent Inc. COM 30214U102 1638 33905 SH SOLE 33905 0 0 Exponent Inc. COM 30214U102 212 4396 SH DFND 01 0 4396 0 Exxon Mobil Corp. COM 30231G102 14880 179861 SH SOLE 179861 0 0 Fanuc Ltd. ADS COM 307305102 1199 60465 SH SOLE 59210 0 1255 Fastenal Co. COM 311900104 118998 2472425 SH SOLE 2472425 0 0 Fidelity National Financial In COM 31620R303 91362 2428545 SH SOLE 2428545 0 0 Fortuna Silver Mines Inc COM 349915108 119 20905 SH SOLE 20905 0 0 Forward Air Corp. COM 349853101 4424 74874 SH SOLE 74874 0 0 Forward Air Corp. COM 349853101 592 10022 SH DFND 01 0 10022 0 Franco-Nevada Corp. COM 351858105 307 4207 SH SOLE 4207 0 0 Franklin Street Properties Cor COM 35471R106 685 80000 SH SOLE 80000 0 0 Freeport-McMoRan Copper & Gold COM 35671D857 175 10152 SH SOLE 10152 0 0 Fresenius Medical Care AG & Co COM 358029106 701 13916 SH SOLE 13626 0 290 FS Investment Corp. COM 302635107 2720 370132 SH SOLE 370132 0 0 FS Investment Corp. COM 302635107 1546 210300 SH DFND 01 0 210300 0 Gartner Inc COM 366651107 836 6293 SH SOLE 6293 0 0 Gartner Inc COM 366651107 169 1272 SH DFND 01 0 1272 0 Gates Industrial COM G39108108 3571 219482 SH SOLE 219482 0 0 General Dynamics Corp. COM 369550108 15395 82586 SH SOLE 82586 0 0 Gilead Sciences COM 375558103 86231 1217269 SH SOLE 1217269 0 0 Gladstone Commercial Corp. COM 376536108 4420 229986 SH SOLE 229986 0 0 Gladstone Commercial Corp. COM 376536108 634 33008 SH DFND 01 0 33008 0 GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 58242 1444856 SH SOLE 1444856 0 0 Gold Shares - SPDR COM 78463V107 303 2557 SH SOLE 2557 0 0 Goldman Sachs BDC Inc. COM 38147U107 2434 118855 SH SOLE 118855 0 0 Goldman Sachs BDC Inc. COM 38147U107 1087 53063 SH DFND 01 0 53063 0 Golub Capital BDC Inc. COM 38173M102 4410 241007 SH SOLE 241007 0 0 Golub Capital BDC Inc. COM 38173M102 7864 429730 SH DFND 01 0 429730 0 Graco Inc. COM 384109104 101254 2239142 SH SOLE 2239142 0 0 Graco Inc. COM 384109104 183 4050 SH DFND 01 0 4050 0 Halyard Health Inc. COM 40650V100 5440 95017 SH SOLE 95017 0 0 Halyard Health Inc. COM 40650V100 765 13364 SH DFND 01 0 13364 0 Harvest Capital Credit Corp COM 41753F109 176 16699 SH DFND 01 0 16699 0 HCA Holdings Inc COM 40412C101 283 2755 SH SOLE 2755 0 0 HDFC Bank Ltd COM 40415F101 375 3573 SH SOLE 3573 0 0 Hercules Technology Growth Cap COM 427096508 3037 240056 SH SOLE 240056 0 0 Hercules Technology Growth Cap COM 427096508 7408 585598 SH DFND 01 0 585598 0 High Yield Corporate Bond Fund COM 464288513 372 4373 SH SOLE 4373 0 0 Home Depot Inc. COM 437076102 23613 121032 SH SOLE 121032 0 0 Honeywell International, Inc. COM 438516106 368 2557 SH SOLE 2557 0 0 Huazhu Group Ltd. COM 44332N106 534 12721 SH SOLE 12721 0 0 Icon PLC COM G4705A100 2531 19097 SH SOLE 18767 0 330 Illinois Tool Works Inc. COM 452308109 40268 290663 SH SOLE 290663 0 0 INFINEON TECHNOLOGIES-ADR COM 45662n103 796 31129 SH SOLE 30424 0 705 ING Groep NV COM 456837103 1694 118277 SH SOLE 116237 0 2040 Innophos Holdings Inc COM 45774N108 4368 91767 SH SOLE 91767 0 0 Innophos Holdings Inc COM 45774N108 652 13690 SH DFND 01 0 13690 0 Invesco BulletShares 2019 COM 46138j304 5520 262904 SH SOLE 262904 0 0 Invesco BulletShares 2020 COM 46138j502 5489 260648 SH SOLE 260648 0 0 Invesco BulletShares 2021 COM 46138j700 5454 262768 SH SOLE 262768 0 0 Invesco BulletShares 2022 COM 46138j882 5438 263346 SH SOLE 263346 0 0 Invesco BulletShares 2024 COM 46138j841 16183 806377 SH SOLE 806377 0 0 Invesco BulletShares 2025 COM 46138j825 3582 181020 SH SOLE 181020 0 0 IQIYI Inc COM 46267X108 256 7935 SH SOLE 7935 0 0 Iron Mountain COM 46284V101 92857 2652310 SH SOLE 2652310 0 0 iShares 7-10 Year Treasury Bon COM 464287440 26998 263371 SH SOLE 263371 0 0 iShares Core MSCI Emerging Mar COM 46434G103 3764 71680 SH SOLE 71680 0 0 iShares Corporate Bond ETF 202 COM 46432FAZ0 12585 490695 SH SOLE 490695 0 0 iShares Corporate ex Financial COM 46432FAK3 9150 375909 SH SOLE 375909 0 0 iShares Corporate ex Financial COM 46432FAN7 17937 761347 SH SOLE 761347 0 0 iShares Corporate iBonds ETF 2 COM 46435GAA0 14293 612887 SH SOLE 612887 0 0 iShares Floating Rate Note Fun COM 46429B655 243 4755 SH SOLE 4755 0 0 iShares Gold Trust COM 464285105 5151 428542 SH SOLE 428542 0 0 iShares iBonds Dec 2021 AMT-Fr COM 46435G789 6987 274762 SH SOLE 274762 0 0 iShares iBonds Dec 2021 Term C COM 46434VBK5 4531 185938 SH SOLE 185938 0 0 iShares iBonds Dec 2022 AMT-Fr COM 46435G755 6934 271724 SH SOLE 271724 0 0 iShares iBonds Dec 2023 Term C COM 46434VAX8 2558 105344 SH SOLE 105344 0 0 iShares iBonds Dec 2024 Term M COM 46435U697 360 14273 SH SOLE 14273 0 0 iShares iBonds Dec 2025 Term C COM 46434VBD1 2542 106213 SH SOLE 106213 0 0 iShares iBonds Dec 2027 Term C COM 46435UAA9 2543 107699 SH SOLE 107699 0 0 iShares iBonds Sep 2019 Amt Fr COM 46429B564 3111 122518 SH SOLE 122518 0 0 iShares iBonds Sep 2020 Amt Fr COM 46434V571 5044 198752 SH SOLE 198752 0 0 iShares Interm. Term Corporate COM 464288638 7294 68660 SH SOLE 68660 0 0 iShares MBS Bond ETF COM 464288588 19112 183451 SH SOLE 183451 0 0 iShares MSCI ACWI EX US ETF COM 464288240 5914 125173 SH SOLE 125173 0 0 iShares MSCI Emerging Markets COM 464286475 1441 30187 SH SOLE 30187 0 0 iShares MSCI Japan Index COM 46434G822 1597 27575 SH SOLE 27090 0 485 iShares Muni Bond 2023 COM 46435G318 1694 67901 SH SOLE 67901 0 0 iShares National AMT-Free Muni COM 464288414 4435 40669 SH SOLE 40669 0 0 iShares Residential Real Estat COM 464288562 1365 21645 SH SOLE 21645 0 0 Itau Unibanco Holding S/A ADS COM 465562106 305 29363 SH SOLE 29363 0 0 Jazz Pharmaceuticals Plc COM G50871105 940 5453 SH SOLE 5308 0 145 JD.com Inc COM 47215P106 362 9295 SH SOLE 9295 0 0 John Bean Technologies Corp. COM 477839104 4094 46052 SH SOLE 46052 0 0 John Bean Technologies Corp. COM 477839104 586 6591 SH DFND 01 0 6591 0 Johnson & Johnson COM 478160104 137825 1135858 SH SOLE 1135858 0 0 JP Morgan Chase & Company COM 46625H100 1221 11716 SH SOLE 11716 0 0 KB Financial Group Inc COM 48241a105 900 19360 SH SOLE 19140 0 220 KCAP Financial Inc COM 48668E101 1107 340472 SH DFND 01 0 340472 0 Kemper Corp. COM 488401100 338 4470 SH SOLE 4470 0 0 Kimberly-Clark Corporation COM 494368103 231 2197 SH SOLE 2197 0 0 Kinder Morgan Inc. COM 49456B101 103064 5832739 SH SOLE 5832739 0 0 KOMATSU LTD COM 500458401 1105 38802 SH SOLE 37972 0 830 Kraft Heinz Co. COM 500754106 90900 1446990 SH SOLE 1446990 0 0 Lam Research Corporation COM 512807108 400 2314 SH SOLE 2314 0 0 Leagold Mining Corp COM 52176A205 156 77752 SH SOLE 77752 0 0 Localiza Rent a Car SA COM 53956W300 309 51287 SH SOLE 51287 0 0 Lockheed Martin Corp COM 539830109 16649 56355 SH SOLE 56355 0 0 Lowe's Companies Inc. COM 548661107 32681 341960 SH SOLE 341960 0 0 Luxoft Holding Inc COM G57279104 3127 84871 SH SOLE 84871 0 0 Luxoft Holding Inc COM G57279104 541 14676 SH DFND 01 0 14676 0 LVMH Moet Hennessy Louis Vuitt COM 502441306 1506 22713 SH SOLE 22228 0 485 M&T Bank Corp. COM 55261F104 17401 102266 SH SOLE 102266 0 0 Main Street Capital Corp. COM 56035L104 1408 36994 SH SOLE 36994 0 0 Main Street Capital Corp. COM 56035L104 1869 49107 SH DFND 01 0 49107 0 Manatuck Hill Mariner Offshore COM 562996983 389 2479 SH SOLE 2479 0 0 Markel Corp. COM 570535104 70903 65388 SH SOLE 65388 0 0 Martin Marietta Materials Inc. COM 573284106 99179 444093 SH SOLE 444093 0 0 Mastercard Inc. - A COM 57636Q104 60018 305406 SH SOLE 305406 0 0 Materials Select Sector - SPDR COM 81369Y100 1313 22605 SH SOLE 22605 0 0 McDonald's Corp. COM 580135101 17532 111888 SH SOLE 111888 0 0 MDU Resources Group Inc. COM 552690109 17223 600506 SH SOLE 600506 0 0 Medley Capital Corp. COM 58503F106 1689 486714 SH DFND 01 0 486714 0 Medtronic COM G5960L103 18042 210747 SH SOLE 210747 0 0 Melco Resorts & Entertainment COM 585464100 882 31507 SH SOLE 31507 0 0 MERCADOLIBRE INC COM 58733R102 295 987 SH SOLE 987 0 0 Microsoft Corp. COM 594918104 139136 1410977 SH SOLE 1410977 0 0 Mitsubishi UFJ Financial COM 606822104 1289 228182 SH SOLE 224222 0 3960 MKT VCTR RUSSIA SBI COM 92189F403 346 16307 SH SOLE 16307 0 0 MOBILE TELESYSTEMS OJSC COM 607409109 135 15243 SH SOLE 15243 0 0 Monotype Imaging Holdings Inc. COM 61022P100 4616 227378 SH SOLE 227378 0 0 Monotype Imaging Holdings Inc. COM 61022P100 633 31183 SH DFND 01 0 31183 0 Morningstar Inc. COM 617700109 16625 129632 SH SOLE 129632 0 0 Morningstar Inc. COM 617700109 884 6892 SH DFND 01 0 6892 0 Movado Group Inc. COM 624580106 6629 137239 SH SOLE 137239 0 0 Movado Group Inc. COM 624580106 926 19174 SH DFND 01 0 19174 0 MSC Industrial Direct Co. Inc. COM 553530106 37357 440267 SH SOLE 440267 0 0 MSCI Korea Index Fund - iShare COM 464286772 322 4758 SH SOLE 4758 0 0 MTS Systems Corp. COM 553777103 20764 394373 SH SOLE 394373 0 0 MTS Systems Corp. COM 553777103 606 11504 SH DFND 01 0 11504 0 Naspers Ltd COM 631512209 1541 30742 SH SOLE 30348 0 394 Natus Medical Inc. COM 639050103 32582 944405 SH SOLE 944405 0 0 Natus Medical Inc. COM 639050103 561 16269 SH DFND 01 0 16269 0 Nestle SA COM 641069406 14800 191144 SH SOLE 191144 0 0 New Jersey Resources Corp. COM 646025106 18321 409412 SH SOLE 409412 0 0 New Mountain Finance Corp. COM 647551100 4613 339207 SH SOLE 339207 0 0 New Mountain Finance Corp. COM 647551100 7855 577564 SH DFND 01 0 577564 0 Nike Inc. - B COM 654106103 19370 243097 SH SOLE 243097 0 0 Nintendo Co. Ltd. ADS COM 654445303 1003 24591 SH SOLE 24081 0 510 Noah Holdings Ltd COM 65487X102 299 5724 SH SOLE 5724 0 0 Nordstrom Inc. COM 655664100 10563 204003 SH SOLE 204003 0 0 Northern Trust Corporation COM 665859104 122851 1194006 SH SOLE 1194006 0 0 Novartis AG - ADR COM 66987V109 13518 178954 SH SOLE 178954 0 0 NVIDIA Corp. COM 67066G104 223 942 SH SOLE 942 0 0 NXP Semiconductors N.V. COM N6596X109 41360 378515 SH SOLE 378515 0 0 Oaktree Specialty Lending Corp COM 67401P108 1486 310809 SH SOLE 310809 0 0 OFS Capital Corp. COM 67103B100 2729 238116 SH SOLE 238116 0 0 OFS Capital Corp. COM 67103B100 2316 202084 SH DFND 01 0 202084 0 Oracle Corporation COM 68389X105 25797 585507 SH SOLE 585507 0 0 Orix Corp. ADS COM 686330101 1146 14510 SH SOLE 14190 0 320 Osisko Gold Royalties Ltd COM 68827L101 214 22598 SH SOLE 22598 0 0 Patterson Companies Inc. COM 703395103 10688 471462 SH SOLE 471462 0 0 Patterson Companies Inc. COM 703395103 557 24555 SH DFND 01 0 24555 0 Paychex Inc. COM 704326107 120515 1763199 SH SOLE 1763199 0 0 PayPal Holdings, Inc. COM 70450Y103 583 7002 SH SOLE 7002 0 0 PennantPark Floating Rate Capi COM 70806A106 1206 88312 SH SOLE 88312 0 0 PennantPark Investment Corp. COM 708062104 1153 164667 SH SOLE 164667 0 0 PennantPark Investment Corp. COM 708062104 5289 755081 SH DFND 01 0 755081 0 Pepsico Inc. COM 713448108 130543 1199068 SH SOLE 1199068 0 0 Pfizer Inc. COM 717081103 89112 2456219 SH SOLE 2456219 0 0 Pimco Enhanced Short Maturity COM 72201R833 241 2375 SH SOLE 2375 0 0 Pioneer Natural Resources Co. COM 723787107 288 1520 SH SOLE 1520 0 0 Polaris Industries COM 731068102 138321 1132105 SH SOLE 1132105 0 0 Potbelly Corp. COM 73754Y100 3958 305610 SH SOLE 305610 0 0 Potbelly Corp. COM 73754Y100 585 45153 SH DFND 01 0 45153 0 Potlatch Corp. COM 737630103 236 4643 SH SOLE 4643 0 0 PPG Industries Inc. COM 693506107 16223 156401 SH SOLE 156401 0 0 Praxair Inc. COM 74005P104 119175 753557 SH SOLE 753557 0 0 Procter & Gamble Company COM 742718109 14112 180789 SH SOLE 180789 0 0 Progressive Corp. 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COM 780287108 356 3836 SH SOLE 3836 0 0 Russell 1000 Value Index - iSh COM 464287598 230 1897 SH SOLE 1897 0 0 Russell 2000 Growth Index - iS COM 464287648 475 2325 SH SOLE 2325 0 0 S&P 500 - SPDR COM 78462F103 3969 14632 SH SOLE 14632 0 0 S&P 500 Growth Index - iShares COM 464287309 21843 134330 SH SOLE 134330 0 0 S&P 500 Index Fund - iShares COM 464287200 421 1543 SH SOLE 1543 0 0 S&P 500 Value Index - iShares COM 464287408 13659 124029 SH SOLE 124029 0 0 S&P MidCap 400 Growth Index Fu COM 464287606 7494 33340 SH SOLE 33340 0 0 S&P MidCap 400 Value Index Fun COM 464287705 5232 32288 SH SOLE 32288 0 0 S&P SmallCap 600 Growth Index COM 464287887 10811 57215 SH SOLE 57215 0 0 S&P SmallCap 600 Index Fund - COM 464287804 312 3739 SH SOLE 3739 0 0 S&P SmallCap 600 Value Index F COM 464287879 7386 45238 SH SOLE 45238 0 0 Sabina Gold & Silver Co NPV COM 785246109 127 108120 SH SOLE 108120 0 0 SAP AG - ADS COM 803054204 793 6857 SH SOLE 6697 0 160 Schlumberger Ltd. 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ADS COM 835699307 1641 32018 SH SOLE 31403 0 615 Southern Company COM 842587107 102888 2221714 SH SOLE 2221714 0 0 SPDR KBW REGIONAL BA COM 78464A698 645 10572 SH SOLE 10572 0 0 SPDR Nuveen Barclays Capital M COM 78468R721 9053 188693 SH SOLE 188693 0 0 SPDR Portfolio Intermediate Te COM 78464A375 14453 434157 SH SOLE 434157 0 0 SPDR Portfolio World Ex US ETF COM 78463X889 3533 116221 SH SOLE 116221 0 0 Spectrum Brands Holdings Inc COM 84763R101 40155 491976 SH SOLE 491976 0 0 Starbucks Corporation COM 855244109 38078 779491 SH SOLE 779491 0 0 Stellus Capital Investment COM 858568108 2717 212610 SH SOLE 212610 0 0 Stellus Capital Investment COM 858568108 4347 340126 SH DFND 01 0 340126 0 Stryker Corp. COM 863667101 75082 444640 SH SOLE 444640 0 0 Sumitomo Mitsui-Spons ADR COM 86562M209 1506 193790 SH SOLE 190555 0 3235 Sysmex Corp COM 87184P109 1498 32279 SH SOLE 31604 0 675 T. Rowe Price Group Inc. 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