formv11xk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_________________________

FORM 11-K
     
þ   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 31, 2011
OR
     
o   TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission File No. 001-09305

_________________________

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
STIFEL, NICOLAUS PROFIT SHARING 401(k) PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
STIFEL FINANCIAL CORP.

One Financial Plaza

501 North Broadway

St. Louis, MO 63102

 
 
 
 
Stifel, Nicolaus Profit Sharing 401(k) Plan

 
Financial Statements and Supplemental Schedules
Years ended December 31, 2011 and 2010

 
Contents
   
Report of Independent Registered Public Accounting Firm
1
   
Audited Financial Statements:
  
Statements of Net Assets Available for Benefits
2
Statements of Changes in Net Assets Available for Benefits
3
Notes to Financial Statements
4-10
Supplemental Schedules: *
  
Schedule H, Line 4a - Schedule of Delinquent Participant Contributions
12
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
13
Schedule H, Line 4j - Schedule of Reportable Transactions
14
Exhibit 23.1
  
   
 
* Other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.

 
 
 
 
 

Report of Independent Registered Public Accounting Firm

 

 
Administrative Committee
Stifel, Nicolaus Profit Sharing 401(k) Plan
St. Louis, Missouri
 

 
We have audited the accompanying statements of net assets available for benefits of Stifel, Nicolaus Profit Sharing 401(k) Plan as of December 31, 2011 and 2010, and the related statements of changes in net assets available for benefits for the years then ended.  These financial statements are the responsibility of the Plan's management.  Our responsibility is to express an opinion on these financial statements based on our audits.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  Our audits also included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management and evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.
 
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Stifel, Nicolaus Profit Sharing 401(k) Plan as of December 31, 2011 and 2010, and the changes in its net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.
 
The accompanying supplemental schedules are presented for purposes of additional analysis and are not a required part of the financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan's management. The supplemental schedules have been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole.
 

 
 
/s/ BKD, LLP
 

 
St. Louis, Missouri
June 26, 2012
 

 
 
Federal Employer Identification Number: 44-0160260

 
 
 
 

 
 

 
Stifel, Nicolaus Profit Sharing 401(k) Plan
Statements of Net Assets Available for Benefits
December 31, 2011 and 2010

 
           
   
December 31,
  
   
2011
  
2010
  
           
Investments, at fair value
   $ 324,201,942   $ 284,621,166  
Receivables:
              
Notes receivable from participants
     6,526,873     5,462,378  
Employer contributions
     3,798,176     3,500,363  
Participant contributions
     347,294     337,472  
Total receivables
     10,672,343     9,300,213  
Net assets available for benefits
   $ 334,874,285   $ 293,921,379  
               
See accompanying Notes to Financial Statements.

 
 
2
 

 
Stifel, Nicolaus Profit Sharing 401(k) Plan
Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 2011 and 2010

 
           
   
Year Ended December 31,
  
   
2011
  
2010
  
           
Additions
          
Interest and dividends
   $ 3,465,079   $ 2,641,897  
Net (depreciation)/appreciation in fair value of investments
     (20,579,836 )   26,736,531  
Net investment (loss)/income
     (17,114,757 )   29,378,428  
               
Interest income from participant loans
     267,507     282,378  
Contributions:
              
Participants
     36,856,506     33,547,277  
Rollovers
     7,375,836     5,224,054  
Employer
     3,600,148     3,418,223  
Total contributions
     47,832,490     42,189,554  
Transferred from acquired company plan
     26,281,835     -  
Total additions
     57,267,075     71,850,360  
Deductions
              
Benefits paid to participants
     16,282,634     12,101,466  
Administrative expenses
     31,535     26,095  
Total deductions
     16,314,169     12,127,561  
               
Net increase
     40,952,906     59,722,799  
Net assets available for benefits at beginning of year
     293,921,379     234,198,580  
Net assets available for benefits at end of year
   $ 334,874,285   $ 293,921,379  
               
 
See accompanying Notes to Financial Statements.

 
 
3
 
 
Stifel, Nicolaus Profit Sharing 401(k) Plan
Notes to Financial Statements
December 31, 2011 and 2010

NOTE 1 - Description of the Plan
 
The following description of the Stifel, Nicolaus Profit Sharing 401(k) Plan (the "Plan") provides only general information. Participants should refer to the Plan document and Summary Plan Description for a more complete description of the Plan's provisions.
 
General
 
The Plan is a defined contribution plan sponsored by Stifel, Nicolaus & Company, Incorporated and affiliates (the "Company") for the benefit of its employees who meet the eligibility provisions of the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The Plan is administered by the Administrative Committee, whose members are appointed by the Company's Board of Directors. Prudential Retirement Insurance and Annuity Company ("Prudential" or the "Trustee") is a fiduciary of the Plan and also serves as the record keeper to maintain the individual accounts of each Plan participant.
 
Contributions
 
Each year, participants may contribute up to 100% of their eligible compensation as defined by the Plan document, up to an annual maximum of $16,500 for 2011. In addition, participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions through payroll deductions up to an annual maximum of $5,500 in 2011.  For the years ended December 31, 2011 and 2010, the Company's Board of Directors elected to match 50% of the first $2,000 contributed by each participant. The Company's contribution to the participant's individual account is credited at the end of the year.  This is reflected in the employer contribution receivable in the statements of net assets available for benefits as of December 31, 2011 and 2010.  The Company has the right, under the Plan, to discontinue or modify its matching contributions at any time.
 
In addition, each year the Company may make a discretionary contribution based on profitability. Discretionary contributions are allocated to the participants employed on the last day of the Plan year on the basis of participants' compensation. There were no discretionary contributions in 2011 or 2010.
 
On July 1, 2010, Stifel Financial Corp. (the "Parent") completed its acquisition of Thomas Weisel Partners Group, Inc.  On January 3, 2011, the assets of the Thomas Weisel Partners LLC 401(k) Plan, both cash and in-kind, were merged into the Plan. The transfer included $21,535,303 and $4,746,532 of cash and in-kind assets, respectively and are included in Transferred from acquired company plan within the statement of changes in net assets available for benefits.
 
Participant Investment Account Options
 
Participants direct the investment of their contributions and the Company's matching contributions into various investment account options offered by the Plan. The Plan currently offers investments in common stock of the Parent, various pooled separate accounts, mutual funds, a guaranteed account, and a self-directed brokerage accounts. Each participant has the option of directing their contributions into any of the separate investment accounts and may change the allocation daily.
 
Participant Accounts
 
Each participant's account is credited with the participant's and the Company's contributions and allocations of plan earnings and is charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined. All amounts in participant accounts are participant directed.
 
Vesting
 
All elective contributions made by participants and earnings on those contributions are 100% vested at all times. Vesting in the Company's contributions plus earnings thereon is based on years of service. A participant is fully vested after three years of service. Participants forfeit the nonvested portion of their accounts in the Plan upon termination of employment with the Company. Under provisions of the Plan, forfeited balances of terminated participants' nonvested accounts may be used at the Company's discretion to reduce its matching contribution obligations and then, to the extent any forfeitures remain, reallocated to participants' accounts.
 
4
 
Payment of Benefits
 
Upon termination of service, an employee may elect to receive a lump-sum amount equal to the vested value of their account, net of any outstanding loan balance. Upon death, a participant's account is paid in a lump sum to the designated beneficiary.
 
Notes Receivable from Participants
 
Participants may borrow from their fund accounts a minimum of $1,000 and up to a maximum of $50,000 or 50% of their vested account balance, whichever is less. Generally, loan terms may not exceed five years unless the loan is used to purchase a participant's principal residence, in which case repayment terms may not exceed ten years. The loans are secured by the balance in the participant's account and bear interest at a rate commensurate with local prevailing lending rates determined by the Administrative Committee. Principal and interest is paid ratably through payroll deductions.
 
Participant loans are classified as notes receivable from participants in the statements of net assets available for benefits and are measured at their unpaid principal balance plus any accrued but unpaid interest.
 
Plan Termination
 
Although it has not expressed an intention to do so, the Company has the right, under provisions of the Plan, to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.
 
NOTE 2 - Summary of Significant Accounting Policies
 
Basis of Presentation
 
The accompanying financial statements are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States.
 
Use of Estimates
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States may require management to make estimates and assumptions that affect the reported amounts of net assets available for plan benefits and changes therein. Actual results could differ from those estimates.
 
Valuation of Investments and Income Recognition
 
Pooled separate accounts are valued at estimated fair value as provided by the Trustee. The mutual funds, common stock and self-directed brokerage accounts are stated at fair value based upon quoted market prices. The Prudential Guaranteed Income Account is valued at contract value which equals fair value.
 
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date.
 
The Plan offers a fully-benefit responsive investment contract with Prudential as an investment option to Plan participants. Prudential maintains the contributions in a general account. The account is credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The contract is included in the financial statements at contract value as reported to the Plan by Prudential. Contract value represents contributions made by participants, plus interest at a specified rate determined semiannually. There is no market value adjustment upon discontinuance of a contract and no specific securities in the general account that back the liabilities of these contracts. The fair value for these contracts is equal to the contract value because there are no known cash flows that could be discounted.
 
There are no reserves against the contract value for credit risk of the contract issuer or otherwise. The stated rate of return of the contract was 2.85% and 3.05% for the years ended December 31, 2011 and 2010, respectively.
 
5
 
Income Tax Status
 
The Plan has not obtained or requested a determination letter from the Internal Revenue Service. However, the plan administrator believes that the Plan and related trust are currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code and that the Plan was qualified and the related trust was tax exempt as of the financial statement date.
 
Payment of Benefits
 
Benefit payments to participants are recorded upon distribution.
 
Stock Dividend
 
On April 5, 2011, the Parent effected a three-for-two stock split to shareholders of record as of March 22, 2011. All share information has been retroactively adjusted to reflect the stock split.
 
Risks and Uncertainties
 
The Plan provides for various investment options in common stock, registered investment companies (mutual funds), and short-term investments. The Plan's exposure to credit loss in the event of nonperformance of investments is limited to the carrying value of such investments. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility risk. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statements of net assets available for benefits and participant account balances.
 
Recently Adopted Accounting Guidance
 
Fair Value of Financial Instruments
 
In January 2010, the Financial Accounting Standards Board ("FASB") issued Update No. 2010-06, "Fair Value Measurements and Disclosures (Topic 820): Improving Disclosures About Fair Value Measurements," which amends the disclosure requirements related to recurring and nonrecurring fair value measurements. The guidance requires a rollforward of activities on purchases, sales, issuance, and settlements of the assets and liabilities measured using significant unobservable inputs (Level 3 fair value measurements). The guidance for the disclosure on the rollforward activities for Level 3 fair value measurements became effective for us with the reporting period beginning January 1, 2011. Other than requiring additional disclosures, the adoption of this new guidance did not have a material impact on the Plan's financial statements. See Note 3 - Fair Value of Measurements.
 
Recently Issued Accounting Guidance
 
Fair Value of Financial Instruments
 
In May 2011, the FASB issued Update No. 2011-04, "Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards (Topic 820)-Fair Value Measurement," to provide a consistent definition of fair value and ensure that the fair value measurement and disclosure requirements are similar between U.S. GAAP and International Financial Reporting Standards. This guidance changes certain fair value measurement principles and enhances the disclosure requirements particularly for Level 3 fair value measurements. This guidance is effective for annual periods beginning after December 15, 2011 (January 1, 2012 for the Plan). Management is currently evaluating the impact of the new guidance on the Plan's financial statements.

 
 
6
 
NOTE 3 - Fair Value Measurements
 
Fair Value Hierarchy
 
The fair value of a financial instrument is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. "the exit price") in an orderly transaction between market participants at the measurement date. We have categorized our financial instruments measured at fair value into a three-level classification in accordance with the Topic 820, "Fair Value Measurement and Disclosures," which established a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs reflect our assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the transparency of inputs as follows:
 
Level 1 - Observable inputs based on quoted prices in active markets for identical assets or liabilities;
 
Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted market prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or
 
Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
 
Valuation Techniques
 
The following is a description of the valuation techniques used to measure fair value on a recurring basis.
 
The Plan's valuation methodology used to measure the fair values of the mutual funds, Stifel Financial Corp. common stock and self directed brokerage accounts were derived from quoted market prices. These investments are reported as Level 1.
 
Pooled Separate Accounts
 
Fair value represents the net asset value ("NAV") of the fund shares, which is calculated based on the valuation of the funds' underlying investments at fair value at the end of the year. The investments are public investment vehicles, which are valued using the NAV provided by the Trustee, acting as the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, excluding transaction costs, minus its liabilities, and then divided by the number of shares outstanding. The pooled separate accounts are reported as Level 2.
 
Guaranteed Income Fund
 
The Plan offers a fully-benefit responsive investment contract with Prudential as an investment option to Plan participants. Prudential maintains the contributions in a general account. The investment in the guaranteed income fund is reported at contract value. Contract value represents contributions made by participants, plus interest at a specified rate determined semiannually. There is no market value adjustment upon discontinuance of a contract and no specific securities in the general account that back the liabilities of these contracts. The fair value for these contracts is equal to the contract value because there are no known cash flows that could be discounted. The inputs used to estimate the fair value of the guaranteed income fund were derived from unobservable market data; therefore, the investment is reported as Level 3.

 
 
7
 
Investments Measured at Fair Value on a Recurring Basis
 
Investments measured at fair value on a recurring basis consisted of the following types of instruments as of December 31, 2011 and 2010:
                   
   
December 31, 2011
  
   
Total
  
Level 1
  
Level 2
  
Level 3
  
Mutual funds:
                  
Balanced
   $ 58,075,127   $ 58,075,127   $ -   $ -  
Growth
     38,495,808     38,495,808     -     -  
International
     14,539,311     14,539,311     -     -  
Fixed income
     7,262,827     7,262,827     -     -  
Value
     4,482,039     4,482,039     -     -  
      122,855,112     122,855,112     -     -  
Pooled separate accounts:
                          
Growth
     36,595,296     -     36,595,296     -  
Value
     26,430,364     -     26,430,364     -  
International
     9,542,414     -     9,542,414     -  
Fixed income
     11,691,626     -     11,691,626     -  
Balanced
     11,484,791     -     11,484,791     -  
      95,744,491     -     95,744,491     -  
                           
Guaranteed Income Account
     56,347,272     -     -     56,347,272  
Stifel Financial Corp. Common stock
     34,431,972     34,431,972     -     -  
Self-directed brokerage accounts
     14,823,095     14,823,095     -     -  
    $ 324,201,942   $ 172,110,179   $ 95,744,491   $ 56,347,272  
                           
 
 
                   
   
December 31, 2010
  
   
Total
  
Level 1
  
Level 2
  
Level 3
  
Mutual funds:
                  
Balanced
   $ 47,852,628   $ 47,852,628   $ -   $ -  
Growth
     36,476,595     36,476,595     -     -  
International
     15,334,218     15,334,218     -     -  
Fixed income
     5,715,166     5,715,166     -     -  
Value
     4,023,715     4,023,715     -     -  
      109,402,322     109,402,322     -     -  
Pooled separate accounts:
                          
Growth
     28,969,169     -     28,969,169     -  
Value
     23,079,432     -     23,079,432     -  
International
     9,686,569     -     9,686,569     -  
Fixed income
     8,254,032     -     8,254,032     -  
Balanced
     7,935,359     -     7,935,359     -  
      77,924,561     -     77,924,561     -  
                           
Guaranteed Income Account
     44,846,300     -     -     44,846,300  
Stifel Financial Corp. Common stock
     38,649,744     38,649,744     -     -  
Self-directed brokerage accounts
     13,798,239     13,798,239     -     -  
    $ 284,621,166   $ 161,850,305   $ 77,924,561   $ 44,846,300  
                           

 
 
8
 
The following table summarizes the changes in fair value carrying values of the Plan's Level 3 financial instruments during the years ended December 31, 2011 and 2010:
   
Guaranteed Income Fund
  
Balance at December 31, 2009
  
$
38,523,415
  
Interest income
    
1,321,159
  
Purchases
    
8,346,864
  
Sales
    
(3,345,138
)
Balance at December 31, 2010
    
44,846,300
  
Interest income
    
1,526,069
  
Purchases
    
15,773,684
  
Sales
    
(5,798,781
)
Balance at December 31, 2011
  
$
56,347,272
  
 
NOTE 4 - Investments
 
The fair values of individual investments that represent 5% or more of the Plan's net assets available for benefits at December 31, 2011 and 2010 were:
   
December 31,
  
   
2011
  
2010
  
           
Prudential Guaranteed Income Account
   $ 56,347,272   $ 44,846,300  
Stifel Financial Corp. common stock
     34,431,972     38,649,744  
Fidelity Contrafund
     18,953,371     16,798,827  
TimesSquare Small Cap Growth
     17,291,758     **  
American Euro Pac Growth - R6
     17,165,156     **  
               
** Investment is less than 5% of net assets available for benefits.
        
 
For the years ended December 31, 2011 and 2010, the Plan's investments including investments purchased and sold, as well as held during the year, (depreciated)/appreciated in fair value as follows:
   
December 31,
  
   
2011
    
2010
  
             
Stifel Financial Corp. common stock
   $ (8,879,822 )   $ 2,106,896  
Mutual funds
     (8,493,933 )     12,513,532  
Pooled separate accounts
     (1,673,976 )     11,042,302  
Self-directed brokerage accounts
     (1,532,105 )     1,073,801  
    $ (20,579,836 )   $ 26,736,531  
 
NOTE 5 - Party-in-Interest Transactions
 
Party-in-interest transactions include those with fiduciaries or employees of the Plan, any person who provides services to the Plan, an employer whose employees are covered by the Plan, and a person who owns 50% or more of such an employer or relatives of such persons.
 
As noted in Note 1 above, Prudential Retirement Insurance and Annuity Company is a fiduciary of the Plan and also serves as the record keeper to maintain the individual accounts of each participant.
 
Active participants can purchase the common stock of the Parent from their existing account balances. At December 31, 2011 and 2010, participants held 1,074,321 and 934,471 shares, respectively.
 
The Plan invests in certain funds of the Trustee. The Plan paid $31,535 and $26,095 of record keeping fees to the Trustee during 2011 and 2010, respectively. The Company provides certain administrative services at no cost to the Plan and pays certain accounting and auditing fees related to the Plan.
 
9
 
NOTE 6 - Subsequent Events
 
We evaluate subsequent events that have occurred after the net assets available for benefits date but before the financial statements are issued. Based on the evaluation, we did not identify any recognized subsequent events that would have required adjustment to the Plan's financial statements.

 

 
 
10
 

 
 

 

 
 

 
 

 
 

 
 

 
 
Supplemental Schedules
 
 
 
 
 
 
 
 
 

 
 
 
 

 
 
Stifel, Nicolaus Profit Sharing 401(k) Plan
EIN: 43-0538770
Schedule H, Line 4a - Schedule of Delinquent Participant Contributions
 
Year Ended December 31, 2011
 

 
Participant Contributions Transferred Late to the Plan
  
Total that Constitutes Nonexempt Prohibited Transactions
  
$
21,607
(1)
$
21,607
(1)
           
 
(1) Amounts represent the aggregate delinquent participant contributions during 2011. The Company remitted delinquent contributions and related earnings to the Plan during 2011 and 2012, but elected not to do so through the Voluntary Fiduciary Correction Program given the immaterial amount.

 
 
12
 

 
 
Stifel, Nicolaus Profit Sharing 401(k) Plan
EIN: 43-0538770
Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)
 
December 31, 2011
    (a)
  
Identity of Issue, Borrower, Lessor, or Similar Party (b)
  
Description of Investment, Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value (c)
  
Current Value (e)
  
   
Pooled separate accounts:
            
*  
Artisan International Growth
  
331,828 shares
  
$ 
4,527,729
  
*  
Artisan Mid Cap Growth
  
525,082 shares
    
8,591,974
  
*  
Dryden S&P 500(R) Index Fund
  
134,728 shares
    
11,484,791
  
*  
GSAM High Grade Bond
  
564,364 shares
    
11,691,626
  
*  
LSV Asset Management International Value
  
540,881 shares
    
5,014,685
  
*  
Mellon Capital Small Cap Value
  
335,353 shares
    
7,698,786
  
*  
TimesSquare Small Cap Growth
  
510,081 shares
    
17,291,758
  
*  
Wellington Large Cap Growth
  
1,342,625 shares
    
10,711,564
  
*  
Wellington Large Cap Value
  
1,054,379 shares
    
14,118,822
  
*  
Wellington Mid Cap Value
  
215,685 shares
    
4,612,756
  
                 
*  
Prudential Guaranteed Income Fund
  
2.85%
    
56,347,272
  
                 
*  
Stifel Financial Corp. common stock
  
1,074,321 shares
    
34,431,972
  
                 
   
Mutual funds:
            
   
Alger Mid Cap Growth Institutional
  
216,072 shares
    
2,830,549
  
   
American Bond Fund
  
578,711 shares
    
7,262,827
  
   
American Euro Pac Growth - R6
  
488,618 shares
    
17,165,156
  
   
American Investment Company of America
  
547,493 shares
    
14,826,106
  
   
Davis NY Venture A
  
217,662 shares
    
7,143,666
  
   
Fidelity Contrafund
  
280,957 shares
    
18,953,371
  
   
Growth Fund of America - R6
  
581,890 shares
    
16,711,888
  
   
Lord Abbett Mid Cap Value A
  
286,209 shares
    
4,482,039
  
   
Lord Abbett Small Cap Value I
  
217,446 shares
    
6,912,598
  
   
Oakmark Equity & Income Fund I
  
444,643 shares
    
12,027,601
  
   
Oppenheimer Developing Markets
  
318,475 shares
    
9,226,210
  
   
Oppenheimer Global Fund A
  
98,227 shares
    
5,313,101
  
                 
   
Self-directed brokerage accounts
  
14,823,095 shares
    
14,823,095
  
             
324,201,942
  
*  
Participant loans
  
Interest at 4.25-9.25%, maturing through 2020
    
6,526,873
  
           
$
330,728,815
  
*  
Represents a party-in-interest to the Plan.
            
   
Column (d), cost, has been omitted, as all investments are participant directed.
        
 

 

 
 
13
 

 
 
Stifel, Nicolaus Profit Sharing 401(k) Plan
EIN: 43-0538770
Schedule H, Line 4(j) - Schedule of Reportable Transactions
 
Year Ended December 31, 2011
 

 
                         
Identity of Party Involved (a)
Description of Asset (b)
  
Purchase Price (c)
  
Selling Price (d)
  
Cost of Asset (g)
  
Current Value on Transaction Date (h)
  
Net Gain/(loss) (i)
  
Category (II) - Series of Non-Securities Transactions in Excess of 5% of Plan Assets.
          
Prudential Investments *
Guaranteed Income Fund
   $ 25,264,923   $ -   $ 25,264,923   $ 25,264,923   $ -  
Prudential Investments *
Guaranteed Income Fund
     -     13,763,952     13,763,952     13,763,952     -  
                                   
Category (III) - Series of Securities Transactions in Excess of 5% of Plan Assets.
                          
Stifel Financial Corp. *
Common stock
     12,182,529     -     12,182,529     12,182,529     -  
Stifel Financial Corp. *
Common stock
     -     7,520,478     5,404,147     7,520,478     2,116,331  
Prudential Investments *
American Bond Fund
     15,129,617     -     15,129,617     15,129,617     -  
Prudential Investments *
American Bond Fund
     -     520,320     526,187     520,320     (5,867 )
Prudential Investments *
American Euro Pac Growth R6
     18,978,425     -     18,978,425     18,978,425     -  
Prudential Investments *
American Euro Pac Growth R6
     -     476,776     518,312     476,776     (41,536 )
Prudential Investments *
American Fund Growth
     17,540,189     -     17,540,189     17,540,189     -  
Prudential Investments *
American Fund Growth
     -     498,976     507,954     498,976     (8,978 )
Prudential Investments *
Growth Fund of America
     1,860,967     -     1,860,967     1,860,967     -  
Prudential Investments *
Growth Fund of America
     -     18,032,811     17,073,943     18,032,811     958,868  
Prudential Investments *
American Euro Pac Growth R6
     6,079,351     -     6,079,351     6,079,351     -  
Prudential Investments *
American Euro Pac Growth R6
     -     15,856,792     16,131,721     15,856,792     (274,929 )
Prudential Investments *
American Investment Company of America
     2,086,314     -     2,086,314     2,086,314     -  
Prudential Investments *
American Investment Company of America
     -     15,448,611     15,469,404     15,448,611     (20,793 )
                                   
* Represents a party-in-interest to the Plan.
                                
                                   

 
 
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SIGNATURE
 
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Stifel, Nicolaus Profit Sharing Plan 401(k) Administrative Committee has duly caused this annual report to be signed on their behalf by the undersigned, hereunto duly authorized.
 
 
 
 
  STIFEL, NICOLAUS PROFIT SHARING 401(k) PLAN  
     
     
By:
/s/ James M. Zemlyak
  
 
James M. Zemlyak
Senior Vice President and Chief Financial Officer / Review Committee
  
 
 

 
Date:  June 26, 2012
 
 

 
 
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Exhibit Index
 

 
Exhibit Number
  
Description
23.1
  
Consent of Independent Registered Accounting Firm.
     

 

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