0000902584-16-000009.txt : 20160216 0000902584-16-000009.hdr.sgml : 20160215 20160216121242 ACCESSION NUMBER: 0000902584-16-000009 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20151231 FILED AS OF DATE: 20160216 DATE AS OF CHANGE: 20160216 EFFECTIVENESS DATE: 20160216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVISORY RESEARCH INC CENTRAL INDEX KEY: 0000902584 IRS NUMBER: 362831881 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05637 FILM NUMBER: 161425250 BUSINESS ADDRESS: STREET 1: 180 N. STETSON STREET STREET 2: STE 5500 CITY: CHICAGO STATE: IL ZIP: 60601 BUSINESS PHONE: 3125651414 MAIL ADDRESS: STREET 1: 180 N. STETSON STREET STREET 2: SUITE 5500 CITY: CHICAGO STATE: IL ZIP: 60601 13F-HR 1 primary_doc.xml 13F-HR LIVE false false true 0000902584 XXXXXXXX 12-31-2015 12-31-2015 ADVISORY RESEARCH INC

180 N. STETSON STREET SUITE 5500 CHICAGO IL 60601

13F HOLDINGS REPORT 028-05637 N Susan L. Steiner 314-446-6745 Susan L. Steiner St. Louis MO 02-16-2016 3 356 6595161 false 1 0001280782 028-11097 GUGGENHEIM FUNDS INVESTMENT ADVISORS, LLC 2 0001352022 028-11783 General Board of Pension & Health Benefits of The United Methodist Church, INC in Missouri 3 0001524828 028-16461 Acuitas Investments, LLC INFORMATION TABLE 2 arifourthqtr.xml ARI13F 3M Co COM 88579Y101 427 2835 SH SOLE 0 0 2835 A G L Resources Inc COM 001204106 564 8832 SH SOLE 0 0 8832 A T & T Inc New COM 00206R102 1366 39705 SH SOLE 0 0 39705 Accenture Plc COM G1151C101 446 4271 SH SOLE 1711 0 2560 Addus Homecare Corp. COM 006739106 5217 224117 SH SOLE 131989 0 92128 Advantage Oil & Gas Ltd Com COM 00765F952 105 20750 SH SOLE 20750 0 0 Alerian MLP ETF COM 00162Q866 8479 703650 SH SOLE 703650 0 0 Alexander & Baldwin Holdings I COM 014491104 69561 1970013 SH SOLE 1716216 0 253797 Alexander & Baldwin Holdings I COM 014491104 4110 116409 SH DFND 02 0 0 116409 Alliance Holdings GP LP COM 01861G100 5675 281200 SH SOLE 281200 0 0 Alliance Holdings GP LP COM 01861G100 4045 200425 SH DFND 01 200425 0 0 Alliance Resource Partners, LP COM 01877R108 2249 166680 SH DFND 01 166680 0 0 Alliancebernstein Hldg Unit Lt COM 01881G106 583 24460 SH SOLE 0 0 24460 Allied World Assurance Holding COM H01531104 125531 3375391 SH SOLE 2994125 0 381266 Allied World Assurance Holding COM H01531104 6149 165350 SH DFND 02 0 0 165350 Allison Transmission Holding COM 01973R101 62909 2429854 SH SOLE 2365876 0 63978 Allison Transmission Holding COM 01973R101 5139 198509 SH DFND 02 0 0 198509 Ally Financial COM 02005N100 27411 1470521 SH SOLE 1430211 0 40310 Ally Financial COM 02005N100 2386 128000 SH DFND 02 0 0 128000 Altria Group Inc COM 02209S103 1273 21870 SH SOLE 1887 0 19983 Amerco Incorporated COM 023586100 1128 2896 SH SOLE 2046 0 850 American Express Company COM 025816109 19283 277256 SH SOLE 261336 0 15920 American International Group I COM 026874784 18750 302573 SH SOLE 286636 0 15937 American Midstream Partners LP COM 02752P100 3483 430573 SH SOLE 430573 0 0 AmeriGas Partners LP COM 030975106 2880 84049 SH SOLE 84049 0 0 Analogic COM 032657207 45150 546612 SH SOLE 449164 0 97448 Analogic COM 032657207 2148 26000 SH DFND 02 0 0 26000 Anixter Intl COM 035290105 405 6700 SH SOLE 6700 0 0 Antero Midstream Partners LP COM 03673L103 12055 528245 SH SOLE 494405 0 33840 Antero Resources Corporation COM 03674X106 207 9480 SH SOLE 9480 0 0 APC 7.50 6/7/2018 pfd PRD 032511404 19599 577300 SH SOLE 577300 0 0 Apollo Investment Corporation COM 03761U106 753 144276 SH SOLE 144276 0 0 Apple Inc COM 037833100 1101 10458 SH SOLE 9835 0 623 Arc Logistics Partners LP COM 03879N101 6988 526595 SH SOLE 526595 0 0 Archrock Partners, L.P. COM 03957U100 12193 990468 SH SOLE 990468 0 0 Archrock Partners, L.P. COM 03957U100 6445 523595 SH DFND 01 523595 0 0 Ares Capital Corp COM 04010L103 1317 92387 SH SOLE 92387 0 0 Armstrong World Industries COM 04247X102 19258 421118 SH SOLE 413023 0 8095 Armstrong World Industries COM 04247X102 1829 40000 SH DFND 02 0 0 40000 Atento SA COM L0427L105 257 26400 SH SOLE 26400 0 0 Atlantic Tele-Network Inc. COM 049079205 18758 239776 SH SOLE 142893 0 96883 Avalon Hldgs Corp Cl A COM 05343P109 710 375703 SH SOLE 375703 0 0 Axalta Coating Systems LTD COM G0750C108 1095 41100 SH SOLE 41100 0 0 Azure Midstream Partners LP COM 05501X100 137 43532 SH SOLE 43532 0 0 Banco Latinoamercano De Comeri COM P16994132 8746 337277 SH SOLE 205267 0 132010 Banco Latinoamercano De Comeri COM P16994132 233 8990 SH DFND 03 8990 0 0 Bank Of America Corporation 7. CNV 060505682 492 450 SH SOLE 350 0 100 Bankunited Inc Com COM 06652K103 17926 497122 SH SOLE 316223 0 180899 BCE COM 05534B760 369 9561 SH SOLE 2321 0 7240 Berkshire Hathaway Class A COM 084670108 396 2 SH SOLE 2 0 0 Berkshire Hathaway Inc Del Cl COM 084670702 28287 214228 SH SOLE 200092 0 14136 Bexil Corp COM 088577101 397 51263 SH SOLE 51263 0 0 Biloxi Marsh Lds Corp Com COM 090203100 745 66239 SH SOLE 66239 0 0 Blackrock Kelso Capital Corpco COM 092533108 1341 142697 SH SOLE 142697 0 0 Block H & R Incorporated COM 093671105 69459 2085226 SH SOLE 2010857 0 74369 Block H & R Incorporated COM 093671105 4678 140440 SH DFND 02 0 0 140440 BOK Financial Corporation COM 05561Q201 23832 398590 SH SOLE 389935 0 8655 BOK Financial Corporation COM 05561Q201 2093 35000 SH DFND 02 0 0 35000 Brookdale Senior Living Incorp COM 112463104 78350 4244308 SH SOLE 3954384 0 289924 Brookdale Senior Living Incorp COM 112463104 4891 264970 SH DFND 02 0 0 264970 Buckeye Partners L.P. COM 118230101 171938 2606708 SH SOLE 2508053 0 98655 Buckeye Partners L.P. COM 118230101 67285 1020081 SH DFND 01 1020081 0 0 BWX Technologies Inc. COM 05605H100 1592 50100 SH SOLE 50100 0 0 Cabot Oil & Gas COM 127097103 829 46844 SH SOLE 16040 0 30804 Cal-Maine Foods Inc. COM 128030202 598 12900 SH SOLE 12900 0 0 Capital Bank Financial Corpora COM 139794101 14353 448808 SH SOLE 269346 0 179462 Capital Senior Living Corporat COM 140475104 12937 620174 SH SOLE 372184 0 247990 Capitala Finance Corporation COM 14054R106 1103 91267 SH SOLE 91267 0 0 Carrizo Oil & Gas Incorporated COM 144577103 49845 1685081 SH SOLE 1570071 0 115010 Carrizo Oil & Gas Incorporated COM 144577103 1272 43000 SH DFND 02 0 0 43000 CDW Corporation COM 12514G108 91648 2180012 SH SOLE 2112000 0 68012 CDW Corporation COM 12514G108 5596 133110 SH DFND 02 0 0 133110 Century Casinos Inc. COM 156492100 1493 191900 SH SOLE 191900 0 0 Chesapeake Energy COM 165167107 65 14444 SH SOLE 0 0 14444 Chevron Corporation New COM 166764100 16568 184166 SH SOLE 173251 0 10915 Chicago Rivet & Machine Compan COM 168088102 655 28255 SH SOLE 28255 0 0 China Cord Blood Corporation COM G21107100 298 46841 SH SOLE 46841 0 0 Chipmos Technologies COM G2110R114 519 26215 SH SOLE 26215 0 0 Chipmos Technologies COM G2110R114 292 14735 SH DFND 03 14735 0 0 Claymore Exchange Trd Fd Tr Gu GUGG SPINOFF ETF 18383M605 741 19289 SH SOLE 8509 0 10780 Clayton Williams Energy Inc COM 969490101 12330 416962 SH SOLE 416962 0 0 CNO Financial Group COM 12621E103 14439 756380 SH SOLE 740804 0 15576 CNO Financial Group COM 12621E103 1333 69825 SH DFND 02 0 0 69825 Colgate Palmolive COM 194162103 414 6207 SH SOLE 2655 0 3552 Columbia Pipeline Group COM 198280109 41954 2097702 SH SOLE 2093840 0 3862 Columbia Pipeline Partners LP COM 198281107 2216 126745 SH SOLE 125250 0 1495 Comcast Corporation New Class COM 20030N101 14517 257252 SH SOLE 240863 0 16389 Communications Sys Inc COM 203900105 570 73418 SH SOLE 73418 0 0 Concho Resources Inc. COM 20605P101 446 4800 SH SOLE 4800 0 0 CONE Midstream Partners LP COM 206812109 1577 160085 SH SOLE 158195 0 1890 ConocoPhillips COM 20825C104 520 11139 SH SOLE 1719 0 9420 Contango Oil and Gas Company COM 21075N204 6070 946930 SH SOLE 946930 0 0 Core Mark Holding Co Inc COM 218681104 13185 160911 SH SOLE 97714 0 63197 Crestwood Equity Partners LP COM 226344208 23998 1154876 SH SOLE 1124483 0 30393 Crestwood Equity Partners LP COM 226344208 16899 813232 SH DFND 01 813232 0 0 CSI Compressco LP COM 12637A103 1382 121262 SH SOLE 121262 0 0 CST Brands Incorporated COM 12646R105 135167 3453414 SH SOLE 3061384 0 392030 CST Brands Incorporated COM 12646R105 6766 172854 SH DFND 02 0 0 172854 CSW Industrials Inc COM 126402106 18008 478035 SH SOLE 309073 0 168962 CSX Corp Com COM 126408103 7737 298140 SH SOLE 273899 0 24241 CVS Health Corporation COM 126650100 18224 186401 SH SOLE 175518 0 10883 DCP Midstream Partners LP COM 23311P100 168556 6832441 SH SOLE 6614091 0 218350 DCP Midstream Partners LP COM 23311P100 40197 1629404 SH DFND 01 1629404 0 0 Delek Logistics Partners LP COM 24664T103 50570 1416926 SH SOLE 1371926 0 45000 Delek Logistics Partners LP COM 24664T103 13751 385285 SH DFND 01 385285 0 0 Diageo PLC - SPONS ADR SPON ADR NEW 25243Q205 260 2386 SH SOLE 1445 0 941 Diamondback Energy Inc COM 25278X109 723 10800 SH SOLE 10800 0 0 Discover Financial Services COM 254709108 43666 814363 SH SOLE 787579 0 26784 Discover Financial Services COM 254709108 2842 53000 SH DFND 02 0 0 53000 Duke Energy Corp New COM 26441C204 459 6428 SH SOLE 0 0 6428 Eagle Materials Incorporated COM 26969P108 89287 1477524 SH SOLE 1309195 0 168329 Eagle Materials Incorporated COM 26969P108 4735 78349 SH DFND 02 0 0 78349 Eclipse Resources Corp COM 27890G100 2382 1308692 SH SOLE 1308692 0 0 Enable Midstream Partners LP COM 292480100 37241 4047950 SH SOLE 3972315 0 75635 Enable Midstream Partners LP COM 292480100 7906 859365 SH DFND 01 859365 0 0 Enbridge Energy Management LLC COM 29250X103 100719 4510470 SH SOLE 4484879 0 25591 Enbridge Energy Management LLC COM 29250X103 14450 647121 SH DFND 01 647121 0 0 Enbridge Energy Partners LP COM 29250R106 28625 1240770 SH SOLE 1093165 0 147605 Enbridge Energy Partners LP COM 29250R106 25058 1086154 SH DFND 01 1086154 0 0 Encore Cap Group Incorporated COM 292554102 671 23070 SH SOLE 15805 0 7265 Encore Wire Corporation COM 292562105 37135 1001208 SH SOLE 881051 0 120157 Encore Wire Corporation COM 292562105 2632 70963 SH DFND 02 0 0 70963 Energy Transfer Equity L.P. COM 29273V100 78152 5687894 SH SOLE 5336865 0 351029 Energy Transfer Equity L.P. COM 29273V100 46514 3385320 SH DFND 01 3385320 0 0 Energy Transfer Partners, L.P. COM 29273R109 90468 2682108 SH SOLE 2642881 0 39227 Energy Transfer Partners, L.P. COM 29273R109 31435 931962 SH DFND 01 931962 0 0 Enlink Midstream LLC COM 29336T100 29106 1928856 SH SOLE 1928856 0 0 EnLink Midstream Partners LP COM 29336U107 16182 976005 SH SOLE 976005 0 0 EnLink Midstream Partners LP COM 29336U107 20275 1222875 SH DFND 01 1222875 0 0 Enservco Corp. COM 29358Y102 36 67200 SH SOLE 67200 0 0 Enstar Group Limited Shs COM G3075P101 34969 233063 SH SOLE 175569 0 57494 Enterprise Products Partners L COM 293792107 160256 6264910 SH SOLE 5885766 0 379144 Enterprise Products Partners L COM 293792107 43734 1709704 SH DFND 01 1709704 0 0 EQT Corporation COM 26884L109 858 16458 SH SOLE 15160 0 1298 EQT GP Holdings LP COM 26885J103 22755 1096075 SH SOLE 1044590 0 51485 EQT Midstream Partners LP COM 26885B100 67113 889386 SH SOLE 844371 0 45015 Equity Commonwealth 6.50% Pfd CNV 294628201 572 23000 SH SOLE 0 0 23000 Espey Mfg & Electrs Corp Com COM 296650104 1339 52006 SH SOLE 52006 0 0 ETRACS Alerian MLP Index ETN COM 90267B682 6812 373895 SH SOLE 373895 0 0 Evolution Petroleum Corp COM 30049A107 15455 3213080 SH SOLE 3213080 0 0 Exxon Mobil Corporation COM 30231G102 226 2900 SH SOLE 0 0 2900 Federal Agricultural Mortgage COM 313148306 1053 33370 SH SOLE 23900 0 9470 Fidelity National Financial In COM 31620R303 64153 1850386 SH SOLE 1796222 0 54164 Fidelity National Financial In COM 31620R303 4097 118170 SH DFND 02 0 0 118170 Fifth Third Bancorp COM 316773100 350 17432 SH SOLE 0 0 17432 Flotek Industries Inc. COM 343389102 1363 119100 SH SOLE 119100 0 0 Freeport Mcmoran Copper COM 35671D857 228 33660 SH SOLE 24600 0 9060 Frontier Communications COM 35906A108 69 14873 SH SOLE 0 0 14873 FSI Corporation COM 302635107 1529 170090 SH SOLE 170090 0 0 Fuller H B Company COM 359694106 82503 2262205 SH SOLE 2028525 0 233680 Fuller H B Company COM 359694106 4560 125040 SH DFND 02 0 0 125040 General Mills COM 370334104 247 4277 SH SOLE 0 0 4277 Genesis Energy LP COM 371927104 92790 2525585 SH SOLE 2441580 0 84005 Genesis Energy LP COM 371927104 20272 551775 SH DFND 01 551775 0 0 Gilead Sciences Incorporated COM 375558103 27674 273484 SH SOLE 260342 0 13142 Global Partners LP COM 37946R109 3088 175750 SH SOLE 174410 0 1340 Golar LNG Partners LP COM Y2745C102 8192 612265 SH SOLE 612265 0 0 Golar LNG Partners LP COM Y2745C102 5250 392360 SH DFND 01 392360 0 0 Goldman Sachs BDC Inc. COM 38147U107 1224 64441 SH SOLE 64441 0 0 Golub Cap Bdc Inc Com COM 38173M102 883 53112 SH SOLE 53112 0 0 Grainger WW COM 384802104 295 1457 SH SOLE 533 0 924 Greene Cnty Bancorp Inc COM 394357107 953 31782 SH SOLE 31782 0 0 Guggenheim ETF Trust S&P 500 E COM 78355W106 1313 17131 SH SOLE 17066 0 65 Harley Davidson Incorporated COM 412822108 75318 1659356 SH SOLE 1611223 0 48133 Harley Davidson Incorporated COM 412822108 5056 111395 SH DFND 02 0 0 111395 Hasbro COM 418056107 1919 28484 SH SOLE 27473 0 1011 Healthsouth Corporation COM 421924309 40670 1168347 SH SOLE 1014982 0 153365 Healthsouth Corporation COM 421924309 2646 76000 SH DFND 02 0 0 76000 Hercules Technology Growth Cap COM 427096508 1496 122714 SH SOLE 122714 0 0 Holly Energy Partners LP COM 435763107 7189 230855 SH SOLE 230855 0 0 HRG Group Inc COM 40434J100 12935 953909 SH SOLE 577280 0 376629 Hyatt Hotels Corporation COM 448579102 40754 866743 SH SOLE 848773 0 17970 Hyatt Hotels Corporation COM 448579102 3800 80820 SH DFND 02 0 0 80820 ICU Med COM 44930G107 1838 16300 SH SOLE 16300 0 0 Ignite Restaurant Group Inc Co COM 451730105 2659 633046 SH SOLE 633046 0 0 Intl Business Machines COM 459200101 425 3089 SH SOLE 2496 0 593 Investors Bancorp Incorporated COM 46146L101 35561 2858626 SH SOLE 2489081 0 369545 Investors Bancorp Incorporated COM 46146L101 2285 183655 SH DFND 02 0 0 183655 Iradimed Corporation COM 46266A109 841 30000 SH SOLE 30000 0 0 iShares Russell 2000 Value COM 464287630 1237 13455 SH SOLE 13455 0 0 Ishares S&P US Pfd Stock Index U.S. PFD STK ETF 464288687 223 5738 SH SOLE 0 0 5738 Ishares Select Dividend Etf SELECT DIVID ETF 464287168 3164 42100 SH SOLE 0 0 42100 Johnson & Johnson COM 478160104 7649 74466 SH SOLE 67955 0 6511 JP Energy Partners LP COM 46643C109 2481 504175 SH SOLE 504175 0 0 JP Energy Partners LP COM 46643C109 2614 531345 SH DFND 01 531345 0 0 JPMorgan Alerian MLP Index ETN ALERIAN ML ETN 46625H365 32269 1113870 SH SOLE 1113870 0 0 JPMorgan Chase & Co Com COM 46625H100 19442 294445 SH SOLE 275970 0 18475 K12 Inc. COM 48273U102 88 10000 SH SOLE 0 0 10000 KCG Holdings Inc. Cl A COM 48244B100 1415 114910 SH SOLE 81990 0 32920 Kennedy-Wilson Holdings Incorp COM 489398107 70853 2942420 SH SOLE 2491487 0 450933 Kennedy-Wilson Holdings Incorp COM 489398107 4206 174670 SH DFND 02 0 0 174670 Kinder Morgan Inc. COM 49456B101 32694 2191290 SH SOLE 2156093 0 35197 Kinder Morgan Inc. COM 49456B101 29606 1984327 SH DFND 01 1984327 0 0 KKR & Co LP COM 48248M102 769 49330 SH SOLE 5230 0 44100 KMI 9.75 10/26/2018 pfd PRD 49456B200 26015 645530 SH SOLE 607200 0 38330 KNOT Offshore Partners LP COM Y48125101 11500 852520 SH SOLE 852520 0 0 KNOT Offshore Partners LP COM Y48125101 8263 612535 SH DFND 01 612535 0 0 Layne Christensen Co COM 521050104 174 33000 SH SOLE 33000 0 0 Leucadia Natl Corp COM 527288104 900 51758 SH SOLE 34836 0 16922 Loews Corp Com COM 540424108 22454 584745 SH SOLE 554842 0 29903 Lydall Inc. COM 550819106 19501 549620 SH SOLE 355029 0 194591 Madison Square Garden CO-A COM 55825T103 1325 8191 SH SOLE 5856 0 2335 Magellan Midstream Partners L. COM 559080106 51795 762587 SH SOLE 732931 0 29656 Magellan Midstream Partners L. COM 559080106 69791 1027547 SH DFND 01 1027547 0 0 Main Street Capital Corp Com COM 56035L104 899 30907 SH SOLE 30907 0 0 Martin Marietta Materials COM 573284106 2673 19570 SH SOLE 19100 0 470 Masonite International Corp COM 575385109 14795 241638 SH SOLE 149543 0 92095 McDonalds Corp COM 580135101 479 4052 SH SOLE 1767 0 2285 McRae Inds Inc Cl A COM 582757209 2576 87885 SH SOLE 87885 0 0 Medallion Finl Corp Com COM 583928106 1244 176699 SH SOLE 176699 0 0 Medtronic PLC Shares COM G5960L103 19759 256875 SH SOLE 241560 0 15315 Memorial Resource Development COM 58605Q109 29609 1833353 SH SOLE 1805193 0 28160 Merck & Co Inc New COM 58933Y105 321 6069 SH SOLE 0 0 6069 Microsoft Corporation COM 594918104 19533 352073 SH SOLE 327025 0 25048 Mondelez International Incorpo COM 609207105 14572 324977 SH SOLE 307305 0 17672 Monroe Cap Corp Com COM 610335101 544 41560 SH SOLE 41560 0 0 MPLX LP COM 55336V100 187017 4755062 SH SOLE 4592162 0 162900 MPLX LP COM 55336V100 27339 695114 SH DFND 01 695114 0 0 National Fuel Gas COM 636180101 254 5950 SH SOLE 5950 0 0 Navigators Group Inc COM 638904102 16090 187554 SH SOLE 115625 0 71929 Navios Maritime Midstream Part COM Y62134104 9536 831380 SH SOLE 831380 0 0 Navios Maritime Midstream Part COM Y62134104 8036 700620 SH DFND 01 700620 0 0 NCR Corp COM 62886E108 267 10900 SH SOLE 10900 0 0 Nextera Energy Partners LP COM 65341B106 25370 849915 SH SOLE 849915 0 0 NGL Energy Partners LP COM 62913M107 12350 1118635 SH SOLE 1091510 0 27125 NGL Energy Partners LP COM 62913M107 2600 235500 SH DFND 01 235500 0 0 Northfield Bancorp Inc Del Com COM 66611T108 16241 1020182 SH SOLE 656178 0 364004 NRG Yield Inc. - Class C COM 62942X405 23546 1595256 SH SOLE 1595256 0 0 NuStar Energy LP COM 67058H102 261 6505 SH SOLE 6185 0 320 NuStar GP Holdings LLC COM 67059L102 494 23375 SH SOLE 20930 0 2445 Oaktree Capital Group COM 674001201 1143 23961 SH SOLE 1991 0 21970 Omega Protein Corp COM 68210P107 1691 76153 SH SOLE 58693 0 17460 ONEOK Inc. COM 682680103 36091 1463541 SH SOLE 1461010 0 2531 ONEOK Partners LP COM 68268N103 23080 765998 SH SOLE 706415 0 59583 ONEOK Partners LP COM 68268N103 9913 329000 SH DFND 01 329000 0 0 Opus Bank COM 684000102 1199 32420 SH SOLE 23020 0 9400 Oshkosh Corporation COM 688239201 37018 948209 SH SOLE 840750 0 107459 Oshkosh Corporation COM 688239201 2020 51744 SH DFND 02 0 0 51744 Pacific Premier Bancorp COM 69478X105 886 41688 SH SOLE 41688 0 0 Pattern Energy Group Inc COM 70338P100 24935 1192490 SH SOLE 1192490 0 0 PBF Logistics LP COM 69318Q104 12895 603709 SH SOLE 568790 0 34919 PBF Logistics LP COM 69318Q104 1647 77085 SH DFND 01 77085 0 0 PDC Energy Incorporated COM 69327R101 349 6540 SH SOLE 6540 0 0 PennTex Midstream Partners LP COM 709311104 4997 386500 SH SOLE 386500 0 0 Pepsico Incorporated COM 713448108 19556 195714 SH SOLE 183533 0 12181 Phillips 66 Partners L.P. COM 718549207 59460 968400 SH SOLE 928795 0 39605 Pimco Corp & Inc Oppty Fund COM 72201B101 718 53797 SH SOLE 0 0 53797 Pimco Corp & Income Strategy F COM 72200U100 2025 151096 SH SOLE 10876 0 140220 Pioneer Natural Resources Comp COM 723787107 47855 381683 SH SOLE 373145 0 8538 Pioneer Natural Resources Comp COM 723787107 1335 10645 SH DFND 02 0 0 10645 PJT Partners Inc. COM 69343T107 475 16800 SH SOLE 16800 0 0 Plains All American Pipeline L COM 726503105 76642 3317845 SH SOLE 3108772 0 209073 Plains All American Pipeline L COM 726503105 36520 1580947 SH DFND 01 1580947 0 0 Plains GP Holdings LP COM 72651A108 82391 8718631 SH SOLE 8663291 0 55340 Potbelly Corp COM 73754Y100 9838 840165 SH SOLE 499745 0 340420 Procter & Gamble COM 742718109 371 4673 SH SOLE 1841 0 2832 QEP Resources Incorporated COM 74733V100 239 17800 SH SOLE 17800 0 0 Range Resources COM 75281A109 247 10023 SH SOLE 7410 0 2613 Regency Affiliates Inc Com Par COM 758847404 1342 114215 SH SOLE 114215 0 0 Rice Energy Incorporated COM 762760106 633 58060 SH SOLE 15400 0 42660 Rice Midstream Partners LP COM 762819100 5180 384000 SH SOLE 384000 0 0 Rose Rock Midstream L.P. COM 777149105 491 32655 SH SOLE 31850 0 805 Rose Rock Midstream L.P. COM 777149105 840 55830 SH DFND 01 55830 0 0 Ross Stores Incorporated COM 778296103 13897 258266 SH SOLE 243374 0 14892 Royal Dutch Shell Plc Spon Adr SPONSORED ADR 780259107 460 9983 SH SOLE 1363 0 8620 Ryman Hospitality Properties I COM 78377T107 54804 1061279 SH SOLE 954019 0 107260 Ryman Hospitality Properties I COM 78377T107 3810 73778 SH DFND 02 0 0 73778 Sanchez Energy Corp COM 79970Y105 3729 865290 SH SOLE 865290 0 0 Scheid Vineyards Inc Cl A COM 806403200 832 25870 SH SOLE 25870 0 0 Scholastic Corporation COM 807066105 34926 905763 SH SOLE 750808 0 154955 Scholastic Corporation COM 807066105 1845 47860 SH DFND 02 0 0 47860 SM Energy Company COM 78454L100 11722 596254 SH SOLE 596254 0 0 Smucker J M Company New COM 832696405 25699 208357 SH SOLE 196696 0 11661 Solar Cap LTD Com COM 83413U100 1597 97205 SH SOLE 97205 0 0 Southcross Energy Partners L.P COM 84130C100 7025 1973397 SH SOLE 1917867 0 55530 Southcross Energy Partners L.P COM 84130C100 3496 982160 SH DFND 01 982160 0 0 Southwestern Energy Company COM 845467109 163 22860 SH SOLE 14520 0 8340 SPDR S&P 500 ETF Trust COM 78462F103 398 1950 SH SOLE 0 0 1950 Spectra Energy Corp. COM 847560109 25525 1066217 SH SOLE 1063400 0 2817 Summit Midstream Partners LP COM 866142102 30448 1625612 SH SOLE 1586672 0 38940 Summit Midstream Partners LP COM 866142102 15159 809336 SH DFND 01 809336 0 0 Sunoco Logistics Partners LP COM 86764L108 1258 48950 SH SOLE 2700 0 46250 Sunoco LP COM 86765K109 63263 1882613 SH SOLE 1817181 0 65432 Sunoco LP COM 86765K109 1491 37650 SH DFND 02 0 0 37650 Sunoco LP COM 86765K109 8171 254793 SH DFND 01 254793 0 0 Sunoco LP - Restricted RES 927WAG905 8171 254793 SH DFND 01 254793 0 0 Superior Uniform Group COM 868358102 1483 87326 SH SOLE 86286 0 1040 Symetra Financial Inc COM 87151Q106 15323 482303 SH SOLE 293996 0 188307 Symphony International Holding COM G54812105 398 549401 SH SOLE 549401 0 0 Symphony International Holding COM G54812105 243 334696 SH DFND 03 334696 0 0 Sysco COM 871829107 1861 45394 SH SOLE 43600 0 1794 Tallgrass Energy GP LP COM 874696107 28467 1782530 SH SOLE 1777235 0 5295 Tallgrass Energy Partners LP COM 874697105 39473 957851 SH SOLE 904127 0 53724 Tallgrass Energy Partners LP COM 874697105 21223 514995 SH DFND 01 514995 0 0 Targa Resources Corp. COM 87612G101 36352 1343384 SH SOLE 1343384 0 0 Targa Resources Partners LP COM 87611X105 33696 2038499 SH SOLE 1926604 0 111895 TC Pipelines LP COM 87233Q108 108961 2191942 SH SOLE 2097622 0 94320 TC Pipelines LP COM 87233Q108 31155 626740 SH DFND 01 626740 0 0 Tcp Cap Corp Com COM 87238Q103 718 51544 SH SOLE 51544 0 0 TE Connectivity Ltd Reg Shs COM H84989104 23486 363503 SH SOLE 341398 0 22105 Tech Data COM 878237106 48546 731334 SH SOLE 633587 0 97747 Tech Data COM 878237106 3104 46755 SH DFND 02 0 0 46755 Teekay Corporation COM Y8564W103 7370 746713 SH SOLE 746713 0 0 Teekay LNG Partners LP COM Y8564M105 210 16000 SH SOLE 16000 0 0 Teekay LNG Partners LP COM Y8564M105 1052 80000 SH DFND 01 80000 0 0 Teekay Offshore Partners L.P. COM Y8565J101 33729 5205140 SH SOLE 5123720 0 81420 Teekay Offshore Partners L.P. COM Y8565J101 8725 1346402 SH DFND 01 1346402 0 0 Teletech Holdings Inc Com COM 879939106 34548 1237852 SH SOLE 899168 0 338684 Tesoro Logistics LP COM 88160T107 110266 2191292 SH SOLE 2114897 0 76395 Tesoro Logistics LP COM 88160T107 27350 543530 SH DFND 01 543530 0 0 The Blackstone Group LP COM 09253U108 1078 36857 SH SOLE 3007 0 33850 The Brink's Company COM 109696104 58109 2013496 SH SOLE 1718466 0 295030 The Brink's Company COM 109696104 3571 123718 SH DFND 02 0 0 123718 The Kraft Heinz Company COM 500754106 354 4872 SH SOLE 1434 0 3438 The Williams Companies COM 969457100 94270 3668094 SH SOLE 3623835 0 44259 Thermo Fisher Scientific Incor COM 883556102 20056 141391 SH SOLE 133511 0 7880 TPG Specialty Lending Inc. COM 87265K102 507 31281 SH SOLE 31281 0 0 TransCanada Corporation COM 89353D107 452 13865 SH SOLE 13865 0 0 TransMontaigne Partners L.P. COM 89376V100 1405 52488 SH SOLE 52488 0 0 Travelcenters Of America COM 894174101 894 95110 SH SOLE 68610 0 26500 Triangle Cap Corp Com COM 895848109 1123 58745 SH SOLE 58745 0 0 Tribune Media Company Class A COM 896047503 71739 2121842 SH SOLE 1897606 0 224236 Tribune Media Company Class A COM 896047503 3844 113698 SH DFND 02 0 0 113698 Tropicana Entertainment COM 89708X105 961 55700 SH SOLE 38890 0 16810 Twenty First Centy Fox Inc Cl COM 90130A200 16461 604533 SH SOLE 575414 0 29119 Union Pacific Corporation COM 907818108 15647 200087 SH SOLE 187660 0 12427 Unitedhealth Group Incorporate COM 91324P102 14884 126520 SH SOLE 117586 0 8934 US Concrete Incorporated COM 90333L201 279 5300 SH SOLE 5300 0 0 USD Partners LP COM 903318103 10771 1487747 SH SOLE 1463257 0 24490 USD Partners LP COM 903318103 3767 520335 SH DFND 01 520335 0 0 Ventas Inc. COM 92276F100 752 13324 SH SOLE 1890 0 11434 Verizon Communications COM 92343V104 1435 31046 SH SOLE 4463 0 26583 Viad Corp New COM 92552R406 1306 46265 SH SOLE 33019 0 13246 Visteon Corporation COM 92839U206 52190 455811 SH SOLE 389535 0 66276 Visteon Corporation COM 92839U206 3320 29000 SH DFND 02 0 0 29000 Voya Financial Incorporated COM 929089100 47617 1290076 SH SOLE 1258093 0 31983 Voya Financial Incorporated COM 929089100 4280 115971 SH DFND 02 0 0 115971 Wendys COM 95058W100 15834 1470175 SH SOLE 1437520 0 32655 Wendys COM 95058W100 2305 214000 SH DFND 02 0 0 214000 Western Gas Equity Partners LP COM 95825R103 77052 2123219 SH SOLE 2014540 0 108679 Western Gas Equity Partners LP COM 95825R103 16614 457810 SH DFND 01 457810 0 0 Western Gas Partners LP COM 958254104 35503 746957 SH SOLE 722407 0 24550 Western Gas Partners LP COM 958254104 15128 318290 SH DFND 01 318290 0 0 Westmoreland Resource Partners COM 96108P103 286 71462 SH SOLE 71462 0 0 Westmoreland Resource Partners COM 96108P103 147 36841 SH DFND 01 36841 0 0 WestRock Company COM 96145D105 44827 982619 SH SOLE 961796 0 20823 WestRock Company COM 96145D105 4171 91420 SH DFND 02 0 0 91420 White Mountains Insurance Grou COM G9618E107 55958 76991 SH SOLE 75406 0 1585 White Mountains Insurance Grou COM G9618E107 5126 7053 SH DFND 02 0 0 7053 Williams Partners LP COM 96949L105 47365 1700733 SH SOLE 1577630 0 123103 Williams Partners LP COM 96949L105 71334 2561366 SH DFND 01 2561366 0 0 Wisdom Tree Intl LV DVD Fund INTl LRGCAP DV 97717W794 1395 32320 SH SOLE 0 0 32320 Wisdomtree Largecap Div Largec LARGECAP DIVID 97717W307 521 7330 SH SOLE 7330 0 0 World Point Terminals LP COM 98159G107 8393 626307 SH SOLE 626307 0 0 World Point Terminals LP COM 98159G107 2252 168065 SH DFND 01 168065 0 0 WPX Energy Incorporated COM 98212B103 18627 3245190 SH SOLE 3174540 0 70650