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
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
Vanguard Equity-Income Admiral MFUND 921921300 224 3,398 SH   SOLE   3,398 0 0
iShares iBonds Dec 2022 AMT-F COM 46435G755 4,157 157,231 SH   SOLE   157,231 0 0
3M Company COM 88579Y101 67,526 385,597 SH   SOLE   385,597 0 0
Advisory Board Company COM 00762w107 21,740 614,292 SH   DFND   0 614,292 0
Air Products & Chemicals Inc. COM 009158106 9,828 69,189 SH   SOLE   69,189 0 0
Alcentra Capital Corporation COM 01374T102 2,308 189,994 SH   DFND   0 189,994 0
ALCOA, INC. COM 013817101 272 29,368 SH   SOLE   29,368 0 0
Alphabet Inc. Class- C COM 02079K107 22,482 32,483 SH   SOLE   32,483 0 0
Alphabet Inc. Class - A COM 02079K305 7,174 10,197 SH   SOLE   10,197 0 0
American Capital Ltd. COM 02503Y103 5,415 342,061 SH   DFND   0 342,061 0
American Express Company COM 025816109 29,534 486,075 SH   SOLE   486,075 0 0
American International Group, COM 026874784 43,153 815,898 SH   SOLE   815,898 0 0
Analog Devices, Inc. COM 032654105 9,361 165,264 SH   SOLE   165,264 0 0
Anheuser-Busch InBev SA/NV COM 03524A108 354 2,690 SH   SOLE   2,690 0 0
Annaly Capital Management Inc. COM 035710409 3,518 317,752 SH   DFND   0 317,752 0
Apollo Investment Corp. COM 03761U106 3,053 551,102 SH   DFND   0 551,102 0
Ares Capital Corp. COM 04010L103 54,456 3,834,909 SH   DFND   0 3,834,909 0
Bank of Marin (CA) COM 063425102 2,140 44,250 SH   DFND   0 44,250 0
Barclays 20+ Year Treasury Bon COM 464287432 31,896 229,634 SH   SOLE   229,634 0 0
Barclays 3-7 Year Treasury Bon COM 464288661 3,516 27,610 SH   SOLE   27,610 0 0
Becton, Dickinson and Company COM 075887109 11,501 67,819 SH   SOLE   67,819 0 0
Bed Bath & Beyond Inc COM 075896100 28,597 661,652 SH   SOLE   661,652 0 0
Berkshire Hathaway Inc. - B COM 084670702 27,917 192,807 SH   SOLE   192,807 0 0
Berkshire Hathaway Inc. - Clas COM 084670108 1,085 5 SH   SOLE   5 0 0
Black Knight Financial Service COM 09214X100 4,219 112,205 SH   SOLE   112,205 0 0
BlackRock Kelso Capital Corp. COM 092533108 2,266 291,248 SH   DFND   0 291,248 0
Broadridge Financial Solutions COM 11133T103 53,722 823,955 SH   SOLE   823,955 0 0
Brown & Brown Inc. COM 115236101 29,127 777,334 SH   DFND   0 777,334 0
C.H. Robinson Worldwide Inc. COM 12541W209 48,897 658,552 SH   SOLE   658,552 0 0
Capstead Mortgage Corp. COM 14067E506 1,072 110,509 SH   DFND   0 110,509 0
Chemours COM 163851108 639 77,523 SH   SOLE   77,523 0 0
Chevron Corp. COM 166764100 90,812 866,277 SH   SOLE   866,277 0 0
Chubb Limited COM H1467J104 71,055 543,606 SH   SOLE   543,606 0 0
CM Finance Inc COM 12574Q103 1,755 197,616 SH   DFND   0 197,616 0
Colgate-Palmolive Co. COM 194162103 63,937 873,452 SH   SOLE   873,452 0 0
Commerce Bancshares, Inc. COM 200525103 10,413 217,387 SH   SOLE   217,387 0 0
Compagnie Financiere Richemont COM 204319107 34,905 5,992,238 SH   SOLE   5,992,238 0 0
Compass Diversified Holdings COM 20451Q104 1,463 88,200 SH   DFND   0 88,200 0
Consumer Discret Select Sector COM 81369Y407 7,880 100,950 SH   SOLE   100,950 0 0
Consumer Staples Select Sector COM 81369Y308 5,220 94,659 SH   SOLE   94,659 0 0
Cullen Frost Bankers, Inc. COM 229899109 7,610 119,417 SH   SOLE   119,417 0 0
Culp Inc. COM 230215105 1,113 40,274 SH   DFND   0 40,274 0
CYS Investments Inc COM 12673A108 5,853 699,326 SH   DFND   0 699,326 0
Diageo (Adr 1:4) COM 25243Q205 76,564 678,279 SH   SOLE   678,279 0 0
Digital Realty Trust Inc. COM 253868103 36,307 333,127 SH   SOLE   333,127 0 0
Discovery Communications, Inc. COM 25470F302 39,043 1,637,012 SH   SOLE   1,637,012 0 0
Donaldson Inc COM 257651109 13,606 395,996 SH   SOLE   395,996 0 0
Dow Chemical COM 260543103 204 4,103 SH   SOLE   4,103 0 0
Dow Jones US Financial Sector COM 464287788 5,130 59,692 SH   SOLE   59,692 0 0
Dow Jones US Technology - iSha COM 464287721 11,791 111,994 SH   SOLE   111,994 0 0
Dow Jones US Utilities - iShar COM 464287697 3,997 30,450 SH   SOLE   30,450 0 0
Du Pont E.I. De Nemours & Com COM 263534109 48,594 749,905 SH   SOLE   749,905 0 0
Energy Select Sector - SPDR COM 81369Y506 3,426 50,211 SH   SOLE   50,211 0 0
EOG Resources COM 26875P101 347 4,162 SH   SOLE   4,162 0 0
Expeditors International of Wa COM 302130109 19,620 400,084 SH   SOLE   400,084 0 0
Exponent Inc. COM 30214U102 1,962 33,594 SH   DFND   0 33,594 0
Express Scripts Inc. COM 30219G108 25,327 334,125 SH   SOLE   334,125 0 0
Exxon Mobil Corp. COM 30231G102 11,104 118,457 SH   SOLE   118,457 0 0
Fastenal Co. COM 311900104 51,219 1,153,843 SH   SOLE   1,153,843 0 0
FEI Company COM 30241L109 3,486 32,619 SH   SOLE   32,619 0 0
Fidelity National Financial In COM 31620R303 63,309 1,688,245 SH   SOLE   1,688,245 0 0
Fifth Street Finance Corp. COM 31678A103 228 46,910 SH   SOLE   46,910 0 0
First Majestic Silver Corp. COM 32076V103 167 12,270 SH   SOLE   12,270 0 0
First Trust Mid Cap Growth Alp COM 33737M102 370 12,317 SH   SOLE   12,317 0 0
First Trust Mid Cap Value Alph COM 33737M201 240 8,583 SH   SOLE   8,583 0 0
First Trust S&P REIT COM 33734G108 242 9,800 SH   SOLE   9,800 0 0
First Trust Small Cap Growth COM 33737M300 273 8,736 SH   SOLE   8,736 0 0
FMC Corp. COM 302491303 233 5,040 SH   SOLE   5,040 0 0
Forward Air Corp. COM 349853101 2,020 45,373 SH   DFND   0 45,373 0
Franco-Nevada Corp. COM 351858105 414 5,441 SH   SOLE   5,441 0 0
Franklin Electric Co. Inc. COM 353514102 1,902 57,542 SH   DFND   0 57,542 0
Franklin Street Properties Cor COM 35471R106 736 60,000 SH   SOLE   60,000 0 0
FS Investment Corp. COM 302635107 3,750 414,406 SH   DFND   0 414,406 0
General Dynamics Corp. COM 369550108 10,015 71,928 SH   SOLE   71,928 0 0
General Electric Company COM 369604103 53,089 1,686,433 SH   SOLE   1,686,433 0 0
Gladstone Capital Corporation COM 376535100 717 99,045 SH   DFND   0 99,045 0
Gladstone Commercial Corp. COM 376536108 1,992 117,967 SH   DFND   0 117,967 0
Gladstone Investment Corp. COM 376546107 1,021 142,533 SH   DFND   0 142,533 0
GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 57,685 1,330,992 SH   SOLE   1,330,992 0 0
Gold Shares - SPDR COM 78463V107 619 4,893 SH   SOLE   4,893 0 0
Gold Trust - iShares COM 464285105 1,382 108,312 SH   SOLE   108,312 0 0
Goldman Sachs BDC Inc. COM 38147U107 4,368 218,493 SH   DFND   0 218,493 0
Golub Capital BDC Inc COM 38173M102 14,102 780,385 SH   DFND   0 780,385 0
Graco inc. COM 384109104 58,833 744,811 SH   DFND   0 744,811 0
Guggenheim BulletShares Corpor COM 18383M530 3,582 167,619 SH   SOLE   167,619 0 0
Guggenheim BulletShares Corpor COM 18383M522 3,625 169,162 SH   SOLE   169,162 0 0
Guggenheim BulletShares Corpor COM 18383M514 3,642 167,758 SH   SOLE   167,758 0 0
Guggenheim BulletShares Corpor COM 18383M233 3,733 175,848 SH   SOLE   175,848 0 0
Guggenheim BulletShares Invest COM 18383M266 3,666 170,347 SH   SOLE   170,347 0 0
Guggenheim BulletShares Invest COM 18383M258 3,700 171,770 SH   SOLE   171,770 0 0
Haemonetics Corporation COM 405024100 1,622 55,960 SH   DFND   0 55,960 0
Hallador Energy Company COM 40609P105 177 38,412 SH   SOLE   38,412 0 0
Halyard Health Inc COM 40650V100 1,982 60,951 SH   DFND   0 60,951 0
Harvest Capital Credit Corp COM 41753F109 213 16,699 SH   DFND   0 16,699 0
Hatteras Financial Corp. COM 41902R103 1,569 95,677 SH   DFND   0 95,677 0
Health Care Select Sector - SP COM 81369Y209 4,708 65,654 SH   SOLE   65,654 0 0
Hercules Technology Growth Cap COM 427096508 8,618 693,914 SH   DFND   0 693,914 0
Hilton Worldwide Holdings Inc COM 43300A104 2,751 122,099 SH   SOLE   122,099 0 0
Home Depot Inc. COM 437076102 12,807 100,294 SH   SOLE   100,294 0 0
Horizon Technology COM 44045A102 2,184 179,012 SH   DFND   0 179,012 0
Illinois Tool Works Inc. COM 452308109 30,649 294,246 SH   SOLE   294,246 0 0
Industrial Select Sector - SPD COM 81369Y704 4,945 88,296 SH   SOLE   88,296 0 0
Iron Mountain COM 46284V101 63,620 1,597,282 SH   SOLE   1,597,282 0 0
iShares 10+ Year Credit Bond E COM 464289511 9,347 149,192 SH   SOLE   149,192 0 0
iShares 7-10 Year Treasury Bon COM 464287440 19,965 176,754 SH   SOLE   176,754 0 0
iShares Barclays 1-3 Year Inve COM 464288646 260 2,452 SH   SOLE   2,452 0 0
iShares Corporate Bond ETF 202 COM 46432FAZ0 8,548 79,093 SH   SOLE   79,093 0 0
iShares Corporate ex Financial COM 46432FAG2 9,490 95,808 SH   SOLE   95,808 0 0
iShares Corporate ex Financial COM 46432FAK3 6,018 59,939 SH   SOLE   59,939 0 0
iShares Corporate ex Financial COM 46432FAN7 12,201 121,497 SH   SOLE   121,497 0 0
iShares iBonds Dec 2021 AMT-Fr COM 46435G789 2,764 105,651 SH   SOLE   105,651 0 0
iShares iBonds Sep 2019 Amt Fr COM 46429B564 1,922 74,706 SH   SOLE   74,706 0 0
iShares iBonds Sep 2020 Amt Fr COM 46434V571 2,767 106,583 SH   SOLE   106,583 0 0
iShares iBoxx Corporate Bond E COM 464287242 3,074 25,049 SH   SOLE   25,049 0 0
iShares Interm. Term Corporate COM 464288638 4,946 44,455 SH   SOLE   44,455 0 0
iShares MBS Bond ETF COM 464288588 7,147 64,993 SH   SOLE   64,993 0 0
iShares National AMT-Free Muni COM 464288414 2,810 24,663 SH   SOLE   24,663 0 0
iShares Residential Real Estat COM 464288562 13,214 195,756 SH   SOLE   195,756 0 0
John Bean Technologies Corp. COM 477839104 2,493 40,726 SH   DFND   0 40,726 0
Johnson & Johnson COM 478160104 98,038 808,230 SH   SOLE   808,230 0 0
KCAP Financial Inc COM 48668E101 1,335 340,472 SH   DFND   0 340,472 0
Kinder Morgan Inc. COM 49456B101 44,041 2,352,603 SH   SOLE   2,352,603 0 0
Kohl's Corp. COM 500255104 42,623 1,124,019 SH   SOLE   1,124,019 0 0
Kraft Heinz Co. COM 500754106 63,206 714,349 SH   SOLE   714,349 0 0
Landstar System Inc. COM 515098101 1,768 25,743 SH   DFND   0 25,743 0
Linear Technology Corp COM 535678106 63,559 1,365,972 SH   SOLE   1,365,972 0 0
Lockheed Martin Corp COM 539830109 11,579 46,656 SH   SOLE   46,656 0 0
Lowe's Companies Inc. COM 548661107 34,240 432,489 SH   SOLE   432,489 0 0
M&T Bank Corp. COM 55261F104 9,024 76,328 SH   SOLE   76,328 0 0
Main Street Capital Corp. COM 56035L104 4,239 129,038 SH   DFND   0 129,038 0
Manatuck Hill Mariner Offshore COM 562996983 379 2,813 SH   SOLE   2,813 0 0
Markel Corp. COM 570535104 52,322 54,915 SH   SOLE   54,915 0 0
Martin Marietta Materials Inc. COM 573284106 56,221 292,816 SH   SOLE   292,816 0 0
Mastercard Inc. - A COM 57636Q104 34,217 388,566 SH   SOLE   388,566 0 0
Mattel Inc COM 577081102 39,423 1,259,939 SH   SOLE   1,259,939 0 0
McDonald's Corp. COM 580135101 10,392 86,355 SH   SOLE   86,355 0 0
MDU Resources Group Inc. COM 552690109 11,290 470,432 SH   SOLE   470,432 0 0
Medallion Financial Corp COM 583928106 615 83,353 SH   DFND   0 83,353 0
Medley Capital Corp. COM 58503F106 4,403 657,221 SH   DFND   0 657,221 0
Medtronic COM G5960L103 10,574 121,864 SH   SOLE   121,864 0 0
Microsoft Corp. COM 594918104 67,360 1,316,388 SH   SOLE   1,316,388 0 0
Monotype Imaging Holdings Inc COM 61022P100 2,124 86,230 SH   DFND   0 86,230 0
Morningstar Inc. COM 617700109 11,979 146,483 SH   DFND   0 146,483 0
MSC Industrial Direct Co. Inc COM 553530106 17,651 250,161 SH   SOLE   250,161 0 0
MTS Systems Corp. COM 553777103 11,517 262,705 SH   DFND   0 262,705 0
Mueller Industries Inc. COM 624756102 2,123 66,592 SH   DFND   0 66,592 0
National Interstate Corporatio COM 63654U100 2,165 71,573 SH   DFND   0 71,573 0
Natus Medical Inc COM 639050103 2,634 69,675 SH   DFND   0 69,675 0
Nestle SA COM 641069406 9,502 122,905 SH   SOLE   122,905 0 0
New Jersey Resources Corp. COM 646025106 11,627 301,618 SH   SOLE   301,618 0 0
New Mountain Finance Corp. COM 647551100 10,633 824,266 SH   DFND   0 824,266 0
Nike Inc. - B COM 654106103 8,222 148,948 SH   SOLE   148,948 0 0
Nordstrom Inc. COM 655664100 6,117 160,759 SH   SOLE   160,759 0 0
Northern Trust Corporation COM 665859104 59,284 894,711 SH   SOLE   894,711 0 0
Novartis AG - ADR COM 66987V109 8,777 106,371 SH   SOLE   106,371 0 0
NXP Semiconductors COM N6596X109 5,914 75,495 SH   SOLE   75,495 0 0
Occidental Petroleum Corp COM 674599105 10,131 134,076 SH   SOLE   134,076 0 0
OFS Capital Corp. COM 67103B100 4,757 370,211 SH   DFND   0 370,211 0
Onebeacon Insurance Group Ltd COM G67742109 2,010 145,622 SH   DFND   0 145,622 0
Patterson Companies, Inc. COM 703395103 5,519 115,249 SH   DFND   0 115,249 0
Paychex, Inc. COM 704326107 66,511 1,117,828 SH   SOLE   1,117,828 0 0
PennantPark Floating Rate Capi COM 70806A106 1,895 152,838 SH   DFND   0 152,838 0
PennantPark Investment Corp. COM 708062104 6,247 914,637 SH   DFND   0 914,637 0
Pepsico, Inc COM 713448108 94,011 887,398 SH   SOLE   887,398 0 0
Pfizer Inc. COM 717081103 55,373 1,572,656 SH   SOLE   1,572,656 0 0
Piedmont Natural Gas Co. Inc. COM 720186105 1,890 31,433 SH   SOLE   31,433 0 0
Pioneer Natural Resources Co. COM 723787107 307 2,028 SH   SOLE   2,028 0 0
Polaris Industries COM 731068102 9,433 115,377 SH   SOLE   115,377 0 0
Potbelly Corp COM 73754Y100 2,142 170,826 SH   DFND   0 170,826 0
Potlatch Corp. COM 737630103 243 7,130 SH   SOLE   7,130 0 0
Praxair Inc. COM 74005P104 56,456 502,325 SH   SOLE   502,325 0 0
Procter & Gamble Company COM 742718109 9,810 115,862 SH   SOLE   115,862 0 0
Progressive Corp. COM 743315103 52,980 1,581,487 SH   SOLE   1,581,487 0 0
Raven Industries Inc COM 754212108 2,018 106,521 SH   DFND   0 106,521 0
Rayonier Inc. COM 754907103 53,644 2,044,349 SH   DFND   0 2,044,349 0
RBC Bearings Incorporated COM 75524B104 1,109 15,301 SH   DFND   0 15,301 0
RE/Max Holdings COM 75524W108 18,695 464,350 SH   DFND   0 464,350 0
REIT Index - Vanguard COM 922908553 9,235 104,153 SH   SOLE   104,153 0 0
Royal Gold, Inc. COM 780287108 371 5,146 SH   SOLE   5,146 0 0
Russell 1000 Growth Index Fund COM 464287614 263 2,616 SH   SOLE   2,616 0 0
Russell 2000 Growth Index - iS COM 464287648 9,835 71,693 SH   SOLE   71,693 0 0
Russell 2000 Value Index - iSh COM 464287630 9,643 99,120 SH   SOLE   99,120 0 0
Russell Midcap Growth Index Fu COM 464287481 10,528 112,501 SH   SOLE   112,501 0 0
S&P 500 - SPDR COM 78462F103 2,219 10,593 SH   SOLE   10,593 0 0
S&P 500 Growth Index - iShares COM 464287309 370 3,175 SH   SOLE   3,175 0 0
S&P 500 Value Index - iShares COM 464287408 446 4,804 SH   SOLE   4,804 0 0
S&P MidCap 400 Growth Index Fu COM 464287606 21,785 128,820 SH   SOLE   128,820 0 0
S&P MidCap 400 Value Index Fun COM 464287705 21,593 168,626 SH   SOLE   168,626 0 0
S&P SmallCap 600 Growth Index COM 464287887 9,435 73,474 SH   SOLE   73,474 0 0
S&P SmallCap 600 Index Fund - COM 464287804 292 2,509 SH   SOLE   2,509 0 0
S&P SmallCap 600 Value Index F COM 464287879 8,722 74,656 SH   SOLE   74,656 0 0
Sandstorm Gold LTD COM 80013R206 240 53,717 SH   SOLE   53,717 0 0
Schlumberger Ltd. COM 806857108 24,619 311,322 SH   SOLE   311,322 0 0
SEI Investments Company COM 784117103 9,970 207,235 SH   SOLE   207,235 0 0
Silver Trust - iShares COM 46428Q109 285 15,979 SH   SOLE   15,979 0 0
Silver Wheaton Corp. COM 828336107 393 16,716 SH   SOLE   16,716 0 0
Small Cap Growth - Vanguard ET COM 922908595 7,457 60,187 SH   SOLE   60,187 0 0
Snyders-Lance Inc COM 833551104 2,356 69,520 SH   DFND   0 69,520 0
Solar Capital, LTD. COM 83413U100 9,967 523,187 SH   DFND   0 523,187 0
Southern Company COM 842587107 64,613 1,204,793 SH   SOLE   1,204,793 0 0
SPDR Interm. Term Corporate Bo COM 78464A375 9,707 278,211 SH   SOLE   278,211 0 0
SPDR Nuveen Barclays Capital M COM 78468R721 6,242 123,386 SH   SOLE   123,386 0 0
Stellus Capital Investment COM 858568108 4,013 391,917 SH   DFND   0 391,917 0
Stryker Corp. COM 863667101 62,992 525,675 SH   SOLE   525,675 0 0
T. Rowe Price Group, Inc. COM 74144T108 9,124 125,032 SH   SOLE   125,032 0 0
TCP Capital Corp COM 87238Q103 10,436 682,954 SH   DFND   0 682,954 0
Techne Corp. COM 09073M104 2,452 21,740 SH   DFND   0 21,740 0
The Clorox Company COM 189054109 11,620 83,966 SH   SOLE   83,966 0 0
Thermo Fisher Scientific, Inc. COM 883556102 28,822 195,062 SH   SOLE   195,062 0 0
Thermon Group Holdings Inc COM 88362T103 1,883 98,004 SH   DFND   0 98,004 0
THL Credit COM 872438106 10,393 933,783 SH   DFND   0 933,783 0
TJX Companies COM 872540109 37,778 489,159 SH   SOLE   489,159 0 0
Torex Gold Res Inc COM 891054108 86 47,840 SH   SOLE   47,840 0 0
TPG Specialty Lending Inc Com COM 87265K102 6,149 370,218 SH   DFND   0 370,218 0
Triangle Capital Corp COM 895848109 8,487 437,921 SH   DFND   0 437,921 0
Triplepoint Venture Growth BDC COM 89677Y100 7,826 738,959 SH   DFND   0 738,959 0
United States Natural Gas Fund COM 912318201 121 13,974 SH   SOLE   13,974 0 0
United Technologies Corp. COM 913017109 29,784 290,429 SH   SOLE   290,429 0 0
VanEck Vectors Long Municipal COM 92189F536 11,880 563,049 SH   SOLE   563,049 0 0
Vanguard Interm. Term Corporat COM 92206C870 910 10,180 SH   SOLE   10,180 0 0
Vanguard Long Term Corporate B COM 92206C813 15,689 165,956 SH   SOLE   165,956 0 0
Vanguard MSCI Emerging Markets COM 922042858 352 9,985 SH   SOLE   9,985 0 0
Varian Medical Systems Inc. COM 92220P105 2,890 35,149 SH   SOLE   35,149 0 0
VCA Antech Inc. COM 918194101 3,198 47,295 SH   DFND   0 47,295 0
Visa, Inc. - A COM 92826C839 221 2,980 SH   SOLE   2,980 0 0
Vulcan Materials Co. COM 929160109 329 2,733 SH   SOLE   2,733 0 0
W.R. Berkley Corp COM 084423102 30,257 504,951 SH   SOLE   504,951 0 0
W.W. Grainger, Inc. COM 384802104 8,755 38,526 SH   SOLE   38,526 0 0
Wells Fargo & Company COM 949746101 22,079 466,500 SH   SOLE   466,500 0 0
Weyerhaeuser Co. COM 962166104 54,066 1,816,119 SH   SOLE   1,816,119 0 0