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 219 3,294 SH   SOLE   3,294 0 0
iShares iBonds Dec 2022 AMT-F COM 46435G755 5,245 199,131 SH   SOLE   199,131 0 0
3M Company COM 88579Y101 70,140 398,000 SH   SOLE   398,000 0 0
Advisory Board Company COM 00762w107 28,184 629,940 SH   DFND   0 629,940 0
Air Products & Chemicals Inc. COM 009158106 11,047 73,479 SH   SOLE   73,479 0 0
Alcentra Capital Corporation COM 01374T102 2,480 190,912 SH   DFND   0 190,912 0
ALCOA, INC. COM 013817101 253 24,905 SH   SOLE   24,905 0 0
Allergan Inc. COM G0177J108 26,310 114,238 SH   SOLE   114,238 0 0
Alphabet Inc. Class- C COM 02079K107 25,260 32,497 SH   SOLE   32,497 0 0
Alphabet Inc. Class - A COM 02079K305 7,885 9,807 SH   SOLE   9,807 0 0
American Capital Ltd. COM 02503Y103 5,881 347,780 SH   DFND   0 347,780 0
American Express Company COM 025816109 33,023 515,658 SH   SOLE   515,658 0 0
American International Group I COM 026874784 51,182 862,523 SH   SOLE   862,523 0 0
Analog Devices Inc. COM 032654105 11,419 177,184 SH   SOLE   177,184 0 0
Anheuser-Busch InBev SA/NV COM 03524A108 353 2,690 SH   SOLE   2,690 0 0
Annaly Capital Management Inc. COM 035710409 4,325 411,902 SH   DFND   0 411,902 0
Apollo Investment Corp. COM 03761U106 3,196 551,102 SH   DFND   0 551,102 0
Ares Capital Corp. COM 04010L103 65,136 4,202,302 SH   DFND   0 4,202,302 0
Bank of Marin (CA) COM 063425102 2,329 46,843 SH   DFND   0 46,843 0
Barclays 20+ Year Treasury Bon COM 464287432 25,965 188,819 SH   SOLE   188,819 0 0
Barclays 3-7 Year Treasury Bon COM 464288661 4,152 32,815 SH   SOLE   32,815 0 0
Becton Dickinson and Company COM 075887109 12,642 70,337 SH   SOLE   70,337 0 0
Bed Bath & Beyond Inc COM 075896100 31,182 723,309 SH   SOLE   723,309 0 0
Berkshire Hathaway Inc. - B COM 084670702 28,724 198,826 SH   SOLE   198,826 0 0
Berkshire Hathaway Inc. - Clas COM 084670108 1,081 5 SH   SOLE   5 0 0
Black Knight Financial Service COM 09214X100 4,857 118,765 SH   SOLE   118,765 0 0
BlackRock Kelso Capital Corp. COM 092533108 2,367 285,840 SH   DFND   0 285,840 0
Broadridge Financial Solutions COM 11133T103 58,740 866,497 SH   SOLE   866,497 0 0
Brown & Brown Inc. COM 115236101 23,833 632,010 SH   DFND   0 632,010 0
C.H. Robinson Worldwide Inc. COM 12541W209 52,221 741,147 SH   SOLE   741,147 0 0
Capitala Finance Corp COM 14054R106 869 66,295 SH   SOLE   66,295 0 0
Capstead Mortgage Corp. COM 14067E506 1,042 110,509 SH   DFND   0 110,509 0
Chevron Corp. COM 166764100 70,655 686,504 SH   SOLE   686,504 0 0
Chubb Limited COM H1467J104 73,606 585,800 SH   SOLE   585,800 0 0
CM Finance Inc COM 12574Q103 1,962 215,557 SH   DFND   0 215,557 0
Colgate-Palmolive Co. COM 194162103 67,213 906,573 SH   SOLE   906,573 0 0
Commerce Bancshares Inc. COM 200525103 11,347 230,354 SH   SOLE   230,354 0 0
Compagnie Financiere Richemont COM 204319107 39,255 6,427,806 SH   SOLE   6,427,806 0 0
Compass Diversified Holdings COM 20451Q104 1,533 88,200 SH   DFND   0 88,200 0
Consumer Discret Select Sector COM 81369Y407 4,116 51,425 SH   SOLE   51,425 0 0
Consumer Staples Select Sector COM 81369Y308 2,661 50,007 SH   SOLE   50,007 0 0
Cullen Frost Bankers Inc. COM 229899109 9,010 125,246 SH   SOLE   125,246 0 0
Culp Inc. COM 230215105 1,193 40,062 SH   DFND   0 40,062 0
CYS Investments Inc COM 12673A108 6,752 774,326 SH   DFND   0 774,326 0
Diageo (Adr 1:4) COM 25243Q205 80,822 696,497 SH   SOLE   696,497 0 0
Digital Realty Trust Inc. COM 253868103 31,918 328,643 SH   SOLE   328,643 0 0
Discovery Communications Inc. COM 25470F302 46,139 1,753,680 SH   SOLE   1,753,680 0 0
Donaldson Inc COM 257651109 10,880 291,467 SH   SOLE   291,467 0 0
Dow Chemical COM 260543103 314 6,060 SH   SOLE   6,060 0 0
Dow Jones U.S. Select Dividend COM 464288448 418 13,950 SH   SOLE   13,950 0 0
Dow Jones US Financial Sector COM 464287788 3,012 33,472 SH   SOLE   33,472 0 0
Dow Jones US Technology - iSha COM 464287721 7,028 59,055 SH   SOLE   59,055 0 0
Du Pont E.I. De Nemours & Com COM 263534109 55,470 828,283 SH   SOLE   828,283 0 0
Energy Select Sector - SPDR COM 81369Y506 4,654 65,908 SH   SOLE   65,908 0 0
EOG Resources COM 26875P101 348 3,599 SH   SOLE   3,599 0 0
Expeditors International of Wa COM 302130109 11,770 228,448 SH   SOLE   228,448 0 0
Exponent Inc. COM 30214U102 1,987 38,916 SH   DFND   0 38,916 0
Express Scripts Inc. COM 30219G108 24,495 347,304 SH   SOLE   347,304 0 0
Exxon Mobil Corp. COM 30231G102 10,935 125,284 SH   SOLE   125,284 0 0
Fastenal Co. COM 311900104 63,190 1,512,450 SH   SOLE   1,512,450 0 0
Fidelity National Financial In COM 31620R303 64,692 1,752,709 SH   SOLE   1,752,709 0 0
First Majestic Silver Corp. COM 32076V103 107 10,342 SH   SOLE   10,342 0 0
First Trust Small Cap Growth COM 33737M300 201 5,955 SH   SOLE   5,955 0 0
FMC Corp. COM 302491303 206 4,271 SH   SOLE   4,271 0 0
Forward Air Corp. COM 349853101 2,111 48,808 SH   DFND   0 48,808 0
Franco-Nevada Corp. COM 351858105 330 4,724 SH   SOLE   4,724 0 0
Franklin Electric Co. Inc. COM 353514102 2,328 57,181 SH   DFND   0 57,181 0
Franklin Street Properties Cor COM 35471R106 756 60,000 SH   SOLE   60,000 0 0
FS Investment Corp. COM 302635107 3,976 419,870 SH   DFND   0 419,870 0
General Dynamics Corp. COM 369550108 11,798 76,038 SH   SOLE   76,038 0 0
General Electric Company COM 369604103 52,019 1,756,216 SH   SOLE   1,756,216 0 0
Gladstone Commercial Corp. COM 376536108 2,324 124,772 SH   DFND   0 124,772 0
Gladstone Investment Corp. COM 376546107 1,267 142,533 SH   DFND   0 142,533 0
GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 60,541 1,403,683 SH   SOLE   1,403,683 0 0
Gold Shares - SPDR COM 78463V107 4,001 31,846 SH   SOLE   31,846 0 0
Gold Trust - iShares COM 464285105 1,181 93,048 SH   SOLE   93,048 0 0
Goldman Sachs BDC Inc. COM 38147U107 2,801 128,679 SH   DFND   0 128,679 0
Golub Capital BDC Inc COM 38173M102 14,580 785,122 SH   DFND   0 785,122 0
Graco inc. COM 384109104 62,701 847,313 SH   DFND   0 847,313 0
Guggenheim BulletShares Corpor COM 18383M530 4,215 197,690 SH   SOLE   197,690 0 0
Guggenheim BulletShares Corpor COM 18383M522 4,258 198,987 SH   SOLE   198,987 0 0
Guggenheim BulletShares Corpor COM 18383M514 4,279 197,080 SH   SOLE   197,080 0 0
Guggenheim BulletShares Corpor COM 18383M233 4,382 205,245 SH   SOLE   205,245 0 0
Guggenheim BulletShares Invest COM 18383M266 4,313 199,667 SH   SOLE   199,667 0 0
Guggenheim BulletShares Invest COM 18383M258 4,349 200,885 SH   SOLE   200,885 0 0
Haemonetics Corporation COM 405024100 2,035 56,190 SH   DFND   0 56,190 0
Hallador Energy Company COM 40609P105 254 32,281 SH   SOLE   32,281 0 0
Halyard Health Inc COM 40650V100 2,258 65,137 SH   DFND   0 65,137 0
Harvest Capital Credit Corp COM 41753F109 203 16,699 SH   DFND   0 16,699 0
Health Care Select Sector - SP COM 81369Y209 2,720 37,725 SH   SOLE   37,725 0 0
Hercules Technology Growth Cap COM 427096508 9,816 723,872 SH   DFND   0 723,872 0
Hilton Worldwide Holdings Inc COM 43300A104 3,236 141,110 SH   SOLE   141,110 0 0
Home Depot Inc. COM 437076102 13,472 104,697 SH   SOLE   104,697 0 0
Illinois Tool Works Inc. COM 452308109 34,087 284,436 SH   SOLE   284,436 0 0
Industrial Select Sector - SPD COM 81369Y704 2,643 45,266 SH   SOLE   45,266 0 0
Iron Mountain COM 46284V101 62,143 1,655,817 SH   SOLE   1,655,817 0 0
iShares 10+ Year Credit Bond E COM 464289511 3,495 55,254 SH   SOLE   55,254 0 0
iShares 7-10 Year Treasury Bon COM 464287440 22,348 199,751 SH   SOLE   199,751 0 0
iShares Barclays 1-3 Year Inve COM 464288646 1,056 9,988 SH   SOLE   9,988 0 0
iShares Corporate Bond ETF 202 COM 46432FAZ0 10,071 370,189 SH   SOLE   370,189 0 0
iShares Corporate ex Financial COM 46432FAG2 11,211 452,253 SH   SOLE   452,253 0 0
iShares Corporate ex Financial COM 46432FAK3 7,039 282,369 SH   SOLE   282,369 0 0
iShares Corporate ex Financial COM 46432FAN7 14,364 570,001 SH   SOLE   570,001 0 0
iShares iBonds Dec 2021 AMT-Fr COM 46435G789 3,479 133,895 SH   SOLE   133,895 0 0
iShares iBonds Sep 2019 Amt Fr COM 46429B564 2,431 94,788 SH   SOLE   94,788 0 0
iShares iBonds Sep 2020 Amt Fr COM 46434V571 3,485 135,018 SH   SOLE   135,018 0 0
iShares Interm. Term Corporate COM 464288638 5,823 52,293 SH   SOLE   52,293 0 0
iShares MBS Bond ETF COM 464288588 8,495 77,165 SH   SOLE   77,165 0 0
iShares National AMT-Free Muni COM 464288414 3,515 31,176 SH   SOLE   31,176 0 0
iShares Residential Real Estat COM 464288562 5,538 84,527 SH   SOLE   84,527 0 0
John Bean Technologies Corp. COM 477839104 2,836 40,200 SH   DFND   0 40,200 0
Johnson & Johnson COM 478160104 103,903 879,567 SH   SOLE   879,567 0 0
KCAP Financial Inc COM 48668E101 1,576 340,472 SH   DFND   0 340,472 0
Kinder Morgan Inc. COM 49456B101 60,816 2,629,320 SH   SOLE   2,629,320 0 0
Kohl's Corp. COM 500255104 54,949 1,255,979 SH   SOLE   1,255,979 0 0
Kraft Heinz Co. COM 500754106 65,385 730,481 SH   SOLE   730,481 0 0
Landstar System Inc. COM 515098101 1,722 25,288 SH   DFND   0 25,288 0
Linear Technology Corp COM 535678106 78,685 1,327,121 SH   SOLE   1,327,121 0 0
Lockheed Martin Corp COM 539830109 11,372 47,439 SH   SOLE   47,439 0 0
Lowe's Companies Inc. COM 548661107 43,285 599,427 SH   SOLE   599,427 0 0
M&T Bank Corp. COM 55261F104 9,589 82,595 SH   SOLE   82,595 0 0
Main Street Capital Corp. COM 56035L104 4,478 130,443 SH   DFND   0 130,443 0
Manatuck Hill Mariner Offshore COM 562996983 385 2,813 SH   SOLE   2,813 0 0
Markel Corp. COM 570535104 52,392 56,410 SH   SOLE   56,410 0 0
Martin Marietta Materials Inc. COM 573284106 58,145 324,630 SH   SOLE   324,630 0 0
Mastercard Inc. - A COM 57636Q104 43,046 422,974 SH   SOLE   422,974 0 0
Mattel Inc COM 577081102 37,718 1,245,649 SH   SOLE   1,245,649 0 0
McDonald's Corp. COM 580135101 10,584 91,749 SH   SOLE   91,749 0 0
MDU Resources Group Inc. COM 552690109 11,774 462,822 SH   SOLE   462,822 0 0
Medallion Financial Corp COM 583928106 352 83,353 SH   DFND   0 83,353 0
Medley Capital Corp. COM 58503F106 4,480 587,221 SH   DFND   0 587,221 0
Medtronic COM G5960L103 11,315 130,965 SH   SOLE   130,965 0 0
Microsoft Corp. COM 594918104 78,190 1,357,465 SH   SOLE   1,357,465 0 0
Monotype Imaging Holdings Inc COM 61022P100 2,750 124,386 SH   DFND   0 124,386 0
Morningstar Inc. COM 617700109 12,207 153,995 SH   DFND   0 153,995 0
MSC Industrial Direct Co. Inc COM 553530106 19,384 264,050 SH   SOLE   264,050 0 0
MTS Systems Corp. COM 553777103 13,360 290,242 SH   DFND   0 290,242 0
Mueller Industries Inc. COM 624756102 2,246 69,273 SH   DFND   0 69,273 0
National Interstate Corporatio COM 63654U100 1,424 43,778 SH   DFND   0 43,778 0
Natus Medical Inc COM 639050103 2,821 71,809 SH   DFND   0 71,809 0
Nestle SA COM 641069406 10,399 131,696 SH   SOLE   131,696 0 0
New Jersey Resources Corp. COM 646025106 10,480 318,935 SH   SOLE   318,935 0 0
New Mountain Finance Corp. COM 647551100 11,439 831,327 SH   DFND   0 831,327 0
Nike Inc. - B COM 654106103 8,544 162,275 SH   SOLE   162,275 0 0
Nordstrom Inc. COM 655664100 9,241 178,118 SH   SOLE   178,118 0 0
Northern Trust Corporation COM 665859104 66,888 983,792 SH   SOLE   983,792 0 0
Novartis AG - ADR COM 66987V109 9,119 115,487 SH   SOLE   115,487 0 0
NXP Semiconductors COM N6596X109 47,776 468,349 SH   SOLE   468,349 0 0
Occidental Petroleum Corp COM 674599105 10,397 142,574 SH   SOLE   142,574 0 0
OFS Capital Corp. COM 67103B100 4,889 375,233 SH   DFND   0 375,233 0
Onebeacon Insurance Group Ltd COM G67742109 2,305 161,409 SH   DFND   0 161,409 0
Patterson Companies Inc. COM 703395103 5,890 128,221 SH   DFND   0 128,221 0
Paychex Inc. COM 704326107 67,860 1,172,621 SH   SOLE   1,172,621 0 0
PennantPark Floating Rate Capi COM 70806A106 2,041 154,266 SH   DFND   0 154,266 0
PennantPark Investment Corp. COM 708062104 6,858 911,964 SH   DFND   0 911,964 0
Pepsico Inc COM 713448108 102,804 945,153 SH   SOLE   945,153 0 0
Pfizer Inc. COM 717081103 58,194 1,718,169 SH   SOLE   1,718,169 0 0
Piedmont Natural Gas Co. Inc. COM 720186105 395 6,581 SH   SOLE   6,581 0 0
Pioneer Natural Resources Co. COM 723787107 315 1,699 SH   SOLE   1,699 0 0
Polaris Industries COM 731068102 9,537 123,152 SH   SOLE   123,152 0 0
Potbelly Corp COM 73754Y100 2,273 182,836 SH   DFND   0 182,836 0
Potlatch Corp. COM 737630103 232 5,972 SH   SOLE   5,972 0 0
Praxair Inc. COM 74005P104 66,729 552,254 SH   SOLE   552,254 0 0
Procter & Gamble Company COM 742718109 11,080 123,449 SH   SOLE   123,449 0 0
Progressive Corp. COM 743315103 61,904 1,965,218 SH   SOLE   1,965,218 0 0
Raven Industries Inc COM 754212108 2,634 114,352 SH   DFND   0 114,352 0
Rayonier Inc. COM 754907103 59,263 2,232,979 SH   DFND   0 2,232,979 0
RBC Bearings Incorporated COM 75524B104 1,236 16,163 SH   DFND   0 16,163 0
RE/Max Holdings COM 75524W108 19,672 449,345 SH   DFND   0 449,345 0
REIT Index - Vanguard COM 922908553 3,934 45,359 SH   SOLE   45,359 0 0
Royal Gold, Inc. COM 780287108 337 4,349 SH   SOLE   4,349 0 0
Russell 2000 Growth Index - iS COM 464287648 5,155 34,620 SH   SOLE   34,620 0 0
Russell 2000 Value Index - iSh COM 464287630 5,476 52,279 SH   SOLE   52,279 0 0
Russell Midcap Growth Index Fu COM 464287481 5,189 53,290 SH   SOLE   53,290 0 0
S&P 500 - SPDR COM 78462F103 2,900 13,407 SH   SOLE   13,407 0 0
S&P 500 Index Fund - iShares COM 464287200 1,011 4,645 SH   SOLE   4,645 0 0
S&P 500 Value Index - iShares COM 464287408 304 3,204 SH   SOLE   3,204 0 0
S&P MidCap 400 Growth Index Fu COM 464287606 5,626 32,199 SH   SOLE   32,199 0 0
S&P MidCap 400 Value Index Fun COM 464287705 7,342 55,203 SH   SOLE   55,203 0 0
S&P SmallCap 600 Growth Index COM 464287887 4,685 34,166 SH   SOLE   34,166 0 0
S&P SmallCap 600 Index Fund - COM 464287804 311 2,509 SH   SOLE   2,509 0 0
S&P SmallCap 600 Value Index F COM 464287879 4,239 33,962 SH   SOLE   33,962 0 0
Sandstorm Gold LTD COM 80013R206 228 45,349 SH   SOLE   45,349 0 0
Schlumberger Ltd. COM 806857108 25,615 325,726 SH   SOLE   325,726 0 0
SEI Investments Company COM 784117103 10,116 221,796 SH   SOLE   221,796 0 0
Silver Trust - iShares COM 46428Q109 250 13,727 SH   SOLE   13,727 0 0
Silver Wheaton Corp. COM 828336107 384 14,192 SH   SOLE   14,192 0 0
Small Cap Growth - Vanguard ET COM 922908595 4,499 34,142 SH   SOLE   34,142 0 0
Snyders-Lance Inc COM 833551104 2,442 72,721 SH   DFND   0 72,721 0
Solar Capital, LTD. COM 83413U100 10,829 527,713 SH   DFND   0 527,713 0
Solar Senior Capital Ltd. COM 83416M105 1,426 87,967 SH   DFND   0 87,967 0
Southern Company COM 842587107 66,599 1,298,232 SH   SOLE   1,298,232 0 0
SPDR Interm. Term Corporate Bo COM 78464A375 11,406 326,734 SH   SOLE   326,734 0 0
SPDR Nuveen Barclays Capital M COM 78468R721 7,377 147,312 SH   SOLE   147,312 0 0
Starbucks Corporation COM 855244109 11,107 205,149 SH   SOLE   205,149 0 0
Stellus Capital Investment COM 858568108 4,418 405,736 SH   DFND   0 405,736 0
Stryker Corp. COM 863667101 64,588 554,834 SH   SOLE   554,834 0 0
T. Rowe Price Group Inc. COM 74144T108 9,011 135,496 SH   SOLE   135,496 0 0
TCP Capital Corp COM 87238Q103 12,211 745,512 SH   DFND   0 745,512 0
Techne Corp. COM 09073M104 2,373 21,675 SH   DFND   0 21,675 0
The Clorox Company COM 189054109 11,059 88,344 SH   SOLE   88,344 0 0
The Coca-Cola Company COM 191216100 201 4,761 SH   SOLE   4,761 0 0
Thermo Fisher Scientific Inc. COM 883556102 31,693 199,252 SH   SOLE   199,252 0 0
Thermon Group Holdings Inc COM 88362T103 2,077 105,154 SH   DFND   0 105,154 0
THL Credit COM 872438106 9,908 1,039,700 SH   DFND   0 1,039,700 0
TJX Companies COM 872540109 39,054 522,257 SH   SOLE   522,257 0 0
TPG Specialty Lending Inc Com COM 87265K102 7,049 389,220 SH   DFND   0 389,220 0
Triangle Capital Corp COM 895848109 9,054 459,588 SH   DFND   0 459,588 0
Triplepoint Venture Growth BDC COM 89677Y100 7,893 744,583 SH   DFND   0 744,583 0
United Technologies Corp. COM 913017109 30,191 297,159 SH   SOLE   297,159 0 0
VanEck Vectors Long Municipal COM 92189F536 10,747 516,423 SH   SOLE   516,423 0 0
Vanguard Long Term Corporate B COM 92206C813 6,515 68,080 SH   SOLE   68,080 0 0
Vanguard MSCI Emerging Markets COM 922042858 298 7,923 SH   SOLE   7,923 0 0
Varian Medical Systems Inc. COM 92220P105 3,819 38,371 SH   SOLE   38,371 0 0
VCA Antech Inc. COM 918194101 3,397 48,543 SH   DFND   0 48,543 0
Velocity Shares 3X Inv Natural COM 22542D530 69 11,299 SH   SOLE   11,299 0 0
Visa, Inc. - A COM 92826C839 231 2,798 SH   SOLE   2,798 0 0
Vulcan Materials Co. COM 929160109 262 2,308 SH   SOLE   2,308 0 0
W.R. Berkley Corp COM 084423102 29,511 510,925 SH   SOLE   510,925 0 0
W.W. Grainger Inc. COM 384802104 9,384 41,737 SH   SOLE   41,737 0 0
Weyerhaeuser Co. COM 962166104 62,806 1,966,361 SH   SOLE   1,966,361 0 0
WisdomTree LargeCap Dividend F COM 97717W307 802 10,419 SH   SOLE   10,419 0 0
WisdomTree LargeCap Value Fund COM 97717W547 228 3,583 SH   SOLE   3,583 0 0