UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2019
or
¨ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________ to___________
Commission file number 001-15059
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
Nordstrom 401(k) Plan
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Nordstrom, Inc.
1617 Sixth Avenue, Seattle, Washington 98101
REQUIRED INFORMATION
1. Not applicable
2. Not applicable
3. Not applicable
4. The Nordstrom 401(k) Plan is subject to the requirements of the Employee Retirement Income Security Act of 1974 (“ERISA”). Plan financial statements and schedules prepared in accordance with the financial reporting requirements of ERISA are filed as Exhibit 99.1.
The Consent of Independent Registered Public Accounting Firm is filed as Exhibit 23.1.
The Exhibit Index is located on page 3.
2
Nordstrom 401(k) Plan
Exhibit Index
Exhibit | Method of Filing | |||||||||||||
| 23.1 | Filed herewith electronically | |||||||||||||
| 99.1 | Filed herewith electronically | |||||||||||||
| 99.2 | Incorporated by reference from the Registrant’s Form S-8 filed on June 10, 2020, Exhibit 4.1 | |||||||||||||
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the administrators of the employee benefit plan have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| Nordstrom 401(k) Plan | |||||
| /s/ Anne L. Bramman | |||||
| Anne L. Bramman | |||||
| Chief Financial Officer | |||||
| Nordstrom, Inc. | |||||
| Date: | July 24, 2020 | ||||
4
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the Registration Statement No. 333-239083 on Form S-8 of Nordstrom, Inc., of our report dated July 24, 2020, relating to the statements of net assets available for benefits of the Nordstrom 401(k) Plan as of December 31, 2019 and 2018, the related statement of changes in net assets available for benefits for the year ended December 31, 2019, and the related supplementary information as of December 31, 2019, appearing in this Annual Report on Form 11-K of the Nordstrom 401(k) Plan for the year ended December 31, 2019.
/s/ Moss Adams LLP
Seattle, Washington
July 24, 2020
Exhibit 99.1
Nordstrom 401(k) Plan
Employer ID No: 91-0515058
Plan Number: 001
Report of Independent Registered Public Accounting Firm and
Financial Statements as of December 31, 2019 and 2018
and for the Year Ended December 31, 2019,
with Supplementary Information
NORDSTROM 401(k) PLAN
PLAN YEAR ENDED DECEMBER 31, 2019
TABLE OF CONTENTS
| Page | ||||||||
| FINANCIAL STATEMENTS | ||||||||
| Notes to Financial Statements | ||||||||
| SUPPLEMENTARY INFORMATION | ||||||||
All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
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DEFINITIONS
| Term | Definition | ||||
| BNY Mellon | Bank of New York Mellon | ||||
| Board | Nordstrom, Inc.’s Board of Directors | ||||
| Company | Nordstrom, Inc. and its participating subsidiaries | ||||
| CCT | Common/collective trust | ||||
| DOL | Department of Labor | ||||
| ERISA | Employee Retirement Income Security Act of 1974 | ||||
| GAAP | Generally accepted accounting principles | ||||
| IRA | Individual Retirement Account | ||||
| IRC | Internal Revenue Code | ||||
| IRS | Internal Revenue Service | ||||
| NAV | Net asset value | ||||
| Plan | Nordstrom 401(k) Plan | ||||
| Plan Administrator | Nordstrom Retirement Committee | ||||
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Report of Independent Registered Public Accounting Firm
To the Retirement Committee, Plan Administrator and Participants of
Nordstrom 401(k) Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Nordstrom 401(k) Plan (the “Plan”) as of December 31, 2019 and 2018, the related statement of changes in net assets available for benefits for the year ended December 31, 2019, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019 and 2018, and the changes in net assets available for benefits for the year ended December 31, 2019, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures to respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Opinion on the Supplementary Information
The supplementary information included in Schedule H, line 4(i) – schedule of assets (held at end of year) as of December 31, 2019, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplementary information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplementary information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplementary information. In forming our opinion on the supplementary information in the accompanying schedule, we evaluated whether the supplementary information, including its form and content, is presented in conformity with DOL’s Rules and Regulations for Reporting and Disclosure under ERISA. In our opinion, the supplementary information in the accompanying schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Moss Adams LLP
Seattle, Washington
July 24, 2020
We have served as the Plan’s auditor since 2016.
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NORDSTROM 401(k) PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(Amounts in thousands)
| December 31, | |||||||||||
| 2019 | 2018 | ||||||||||
| Assets | |||||||||||
| Participant-directed investments at fair value (see Note 3: Fair Value Measurements) | $3,513,264 | $2,955,132 | |||||||||
| Company contributions receivable | 84,512 | 98,294 | |||||||||
| Notes receivable from participants | 97,287 | 95,368 | |||||||||
| Accrued income and broker receivable | 26,661 | 3,183 | |||||||||
| Total assets | 3,721,724 | 3,151,977 | |||||||||
| Liabilities | |||||||||||
| Administrative expenses and other payables | 1,735 | 971 | |||||||||
| Excess contributions payable to participants | 2,988 | 2,074 | |||||||||
| Due to broker for securities purchased | 14,128 | 673 | |||||||||
| Total liabilities | 18,851 | 3,718 | |||||||||
| Net assets available for benefits | $3,702,873 | $3,148,259 | |||||||||
The accompanying Notes to Financial Statements are an integral part of these financial statements.
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NORDSTROM 401(k) PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
(Amounts in thousands)
| Plan year ended | December 31, 2019 | ||||
| Additions | |||||
| Contributions | |||||
| Company contributions | $84,512 | ||||
| Employee contributions | 143,438 | ||||
| Total contributions | 227,950 | ||||
| Investment income | |||||
| Net appreciation in fair value of investments | 568,693 | ||||
| Interest and dividends | 48,785 | ||||
| Total investment income | 617,478 | ||||
| Total additions | 845,428 | ||||
| Deductions | |||||
| Benefit payments to participants | 280,822 | ||||
| Administrative expenses and other | 9,992 | ||||
| Total deductions | 290,814 | ||||
| Net increase in net assets | 554,614 | ||||
| Net assets available for benefits at beginning of year | 3,148,259 | ||||
| Net assets available for benefits at end of year | $3,702,873 | ||||
The accompanying Notes to Financial Statements are an integral part of these financial statements.
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NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
NOTE 1: DESCRIPTION OF THE PLAN
The Nordstrom 401(k) Plan, as amended, was originally established on January 1, 1953 and is a defined contribution plan. The following description of the Plan’s provisions is for informational purposes only and does not bind the Plan. Participants should refer to the Plan documents for a more complete description of the Plan’s provisions.
General
The Plan covers substantially all employees of the Company. For Company contributions, participation begins on the first of the month coinciding with or following the first anniversary of the employee’s original hire date. For elective salary deferrals (401(k) contributions), participation begins on the employee’s hire date. The Plan is subject to the provisions of ERISA.
The Plan contains eligibility provisions to ensure that all eligible employees enter the Plan by the latest participation date required under the applicable provisions of the IRC. Eligible employees who neither make an affirmative salary deferral election nor affirmatively opt out of the Plan are automatically enrolled in the Plan beginning on the first of the month coinciding with or following the first anniversary of their original hire date with a salary deferral contribution equal to 2% of eligible compensation. Employees have the option to elect a zero salary deferral or to change their salary deferral percentage at any time in accordance with the Plan.
For the Plan years ended December 31, 2019 and 2018, to qualify for Company contributions, eligible participants must work at least 1,000 hours during the payroll calendar year and be employed on the last day of the Plan year. The “last day” requirement is waived if the participant terminates employment due to retirement, disability, or death.
Plan Year
The Plan operates on a calendar year ending on December 31. References to 2019 and 2018 relate to the Plan years ended December 31, 2019 and December 31, 2018.
Trustees and Administrator of the Plan
BNY Mellon is the asset trustee of the Plan and Alight Solutions provides recordkeeping services for the Plan.
The Plan is administered by the Company in conjunction with the Plan Administrator, a committee appointed by the Board.
Plan Contributions
Contributions to the Plan are made through employee contributions, including catch-up contributions, Company contributions and participant rollover contributions.
Employee Contributions— Eligible employees may elect to defer eligible compensation on a pre-tax basis, after-tax basis (a Roth) or a combination of both. The maximum elective salary deferral is 50% for non-highly compensated employees and 16% for highly compensated employees. However, that percentage can be reduced for highly compensated employees as required to satisfy applicable non-discrimination testing requirements. Employees age 50 and over are allowed a catch-up contribution on a pre-tax basis, after-tax basis (a Roth) or a combination of both, beginning in the year they turn age 50. For all employees, the IRS limited participant contributions to a maximum of $19 in 2019 and $18.5 in 2018. For those age 50 and over, the IRS limited participant contributions to a maximum of $25 in 2019 and $24.5 in 2018.
Company Contributions— The Company intends to match employee contributions dollar for dollar up to 4% of the participant’s eligible compensation, at the discretion of the Board. Catch-up contributions are not eligible for matching contributions. Depending on Company performance and at the discretion of the Board, the Company may also make an additional profit-based matching contribution of up to 50 cents per dollar on the first 4% of eligible compensation contributed. In March 2020, related to 2019, participants received 4% Company matching contributions of $70,414 and profit-based matching contributions of $15,459, which were made at the Board-approved amount of 22 cents per dollar on the first 4% of eligible compensation contributed.
Participant Rollover Contributions— Participants eligible for a withdrawal from another eligible retirement plan or traditional IRA may roll over all or part of that amount into the Plan. Participants may not roll over amounts from a Roth IRA into the Plan.
Investments
Participants can direct the investment of their accounts (including employee and Company contributions) among various funds, debt securities and Company common stock. The funds as of December 31, 2019 and 2018 include a variety of mutual funds, CCT funds, separately managed funds, and custom target retirement date funds. The available funds are regularly reviewed by the Plan Administrator and are subject to change at any time.
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NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
Participation in Investment Activity
Individual accounts are credited daily with a pro-rata share of investment income or loss experienced by the respective funds into which their account balances have been directed. This income or loss is included in net appreciation or depreciation in fair value of investments on the Statement of Changes in Net Assets Available for Benefits.
Vesting in the Plan
Employees who terminate employment due to retirement, disability or death are 100% vested in their Plan accounts, regardless of years of service. The Plan defines “retirement” as age 60 or older for the purposes of vesting. On termination of employment for reasons other than retirement, disability or death, the amounts credited to the accounts of participants are vested as follows:
Employee Contributions — Employee contributions (salary deferral, catch-up and rollover contributions) are always 100% vested.
Company Matching Contributions — Company matching contributions, including the profit-based matching contribution, for employees vest as follows:
| Years of Service | Vesting Percentage | ||||
| Less than one | 0% | ||||
| One | 33% | ||||
| Two | 67% | ||||
| Three or more | 100% | ||||
Forfeitures
When a participant terminates, the unvested portion of the participant’s account represents a forfeiture, unless the participant resumes service with the Company within five years. At December 31, 2019 and 2018, forfeited unvested accounts were $1,363 and $1,418. Forfeitures of unvested Company matching contributions from terminated participant accounts can be used to offset Company matching contributions or to pay Plan administrative expenses, as determined by the Plan Administrator. In March 2020 and March 2019, the Plan used forfeitures of $1,361 and $1,262 to offset the 2019 and 2018 Company matching contributions.
Benefit Payments
On termination of service, a participant (or participant’s beneficiary in the case of death) may elect to roll over the value of the vested interest in his or her account to another qualified plan, to receive the value as a lump-sum distribution or elect to remain in the Plan, if the vested account balance exceeds $1 (subject to required distributions under Section 401(a)(9) of the IRC). When an active participant reaches age 59½ and continues to work for the Company, the participant is eligible to receive a partial or full distribution of their account.
Participant Loans (Notes Receivable from Participants)
Participants may borrow a minimum of $1 from their account up to a maximum that is equal to the lesser of:
•50% of their vested account balance, less the balance of any other outstanding loans from the Plan as of the loan request date, or
•$50 less the highest outstanding principal balance of any loans, from this Plan or any other qualified Plan of the employer or a related employer, during the one-year period immediately preceding the loan request date.
Loan terms are a maximum of five years or, if for the purchase of a principal residence, up to 20 years. The loans are secured by the balance in the participant’s account. The interest rate for a loan is determined at the time it is approved. The rate will be the prime rate as reported by the Wall Street Journal on the last business day of the prior month, plus 1%. Interest rates for participant loans outstanding at December 31, 2019 range from 4.25% to 10.5% with various maturities through January 2040. Principal and interest is paid through payroll deductions, following the participant’s semi-monthly or weekly payroll cycle. A participant may have a maximum of two loans outstanding at any one time.
Participants may make monthly loan repayments during approved leaves of absence. Alternatively, payment obligations may be suspended during approved leaves of absence not longer than one year and during periods of qualified military service. Participants may continue to make loan repayments after termination of employment under procedures established by the Plan Administrator. If the participant does not make a payment by the required due date, the loan balances will be deemed distributed and become taxable income to the participant.
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The accompanying financial statements have been prepared in accordance with GAAP.
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NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
Use of Estimates
The preparation of financial statements in conformity with GAAP in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein and disclosure of contingent assets and liabilities during the reporting period. Uncertainties regarding such estimates and assumptions are inherent in the preparation of financial statements and actual results may differ from these estimates and assumptions.
Risks and Uncertainties
The Plan holds various investment instruments, including, but not limited to, common stock, debt securities, mutual funds and CCTs. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk and overall market volatility. 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 such changes could materially affect participants’ account balances and the amounts reported in the financial statements.
Investment Valuation and Income Recognition
The Plan’s investments are held by the trustee and are recorded at fair value as follows:
•Common stock is valued at quoted market prices as of the last trading day of the Plan year.
•Shares of mutual funds are valued at quoted market prices as of the last trading day of the Plan year.
•CCTs are measured using the NAV practical expedient of the CCT as reported by the CCT managers. The NAV practical expedient is based on the fair value of the underlying assets owned by the CCT, less its liabilities, and divided by the number of units outstanding.
•Investments in debt securities are valued using the market approach and observable inputs, such as observable trade prices, multiple broker/dealer quotes, related yield curves and other assumptions about the securities.
•Self-directed brokerage accounts allow participants to invest all or a portion of their account in investments of their choice. The fair value is based on the underlying investments, which may include common stock, mutual funds and debt securities.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. Dividends are recorded when earned.
Net realized gains or losses on investment sales represent the difference between the sale proceeds and cost of the investments, or the adjusted market price. Net unrealized appreciation or depreciation on investments held at the end of the Plan year represents the net change in fair value of investments during the year. The Statement of Changes in Net Assets Available for Benefits presents the net appreciation or depreciation in fair value of investments, which consists of realized and unrealized gains and losses.
Notes Receivable from Participants
Participant loans are included in notes receivable from participants on the Statements of Net Assets Available for Benefits and are measured at their unpaid principal balance plus any accrued unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.
Benefit Payments
Benefits are recorded when paid. Amounts allocated to former participants who have withdrawn from the Plan, but have not yet been paid as of December 31, 2019 and 2018 were $261 and $667.
Administrative Expenses
Substantially all of the administrative expenses, including recordkeeping, trustee and other fees, incurred in connection with the Plan are paid by the Plan through an allocation to participant accounts.
Subsequent Event
In March 2020, the World Health Organization declared COVID-19 a global pandemic, and governmental authorities around the world have implemented measures to reduce the spread of COVID-19 including restrictions on business operations, public gatherings and travel, as well as stay-at-home orders, social distancing, and quarantines. COVID-19 is having a significant effect on overall economic conditions in nearly all regions around the world and has caused volatility in financial markets, which may continue to affect the market price of the Company’s Common Stock and other Plan assets. While this is expected to be temporary, the current circumstances are dynamic and the impacts of COVID-19 cannot be reasonably estimated at this time.
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NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
NOTE 3: FAIR VALUE MEASUREMENTS
The Plan discloses its assets that are measured at fair value in the Statements of Net Assets Available for Benefits by level within the fair value hierarchy as defined by applicable accounting standards:
Level 1: Quoted market prices in active markets for identical assets or liabilities
Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data
Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own
assumptions
The following tables set forth, by level within the fair value hierarchy, a summary of the Plan’s investments that were measured at fair value on a recurring basis as of December 31, 2019 and 2018. There have been no changes in the methodologies used at December 31, 2019 and 2018.
| December 31, 2019 | |||||||||||||||||
| Level 1 | Level 2 | Total | |||||||||||||||
| Fair value hierarchy: | |||||||||||||||||
| Common stock | $1,039,179 | $— | $1,039,179 | ||||||||||||||
| Debt securities | 46,708 | 142,990 | 189,698 | ||||||||||||||
| Mutual funds | 1,277,946 | — | 1,277,946 | ||||||||||||||
| Brokerage securities | 26,213 | 5,285 | 31,498 | ||||||||||||||
Other1 | (3,751) | — | (3,751) | ||||||||||||||
| Total assets in fair value hierarchy | $2,386,295 | $148,275 | $2,534,570 | ||||||||||||||
| Investments measured at NAV practical expedient | 978,694 | ||||||||||||||||
| Total participant-directed investments at fair value | $3,513,264 | ||||||||||||||||
1 Other primarily includes pending receivable transactions for dividends and interest.
| December 31, 2018 | |||||||||||||||||
| Level 1 | Level 2 | Total | |||||||||||||||
| Fair value hierarchy: | |||||||||||||||||
| Common stock | $942,414 | $— | $942,414 | ||||||||||||||
| Debt securities | 11,691 | 141,073 | 152,764 | ||||||||||||||
| Mutual funds | 1,005,811 | — | 1,005,811 | ||||||||||||||
| Brokerage securities | 22,463 | 2,660 | 25,123 | ||||||||||||||
| Other | 4,188 | — | 4,188 | ||||||||||||||
| Total assets in fair value hierarchy | $1,986,567 | $143,733 | $2,130,300 | ||||||||||||||
| Investments measured at NAV practical expedient | 824,832 | ||||||||||||||||
| Total participant-directed investments at fair value | $2,955,132 | ||||||||||||||||
The Plan’s NAV funds are primarily composed of CCT’s, which are measured daily and may be redeemed daily with no restrictions related to the redemption notice period.
The Plan did not have any Level 3 measurements as of December 31, 2019 and 2018. During 2019, there were no transfers in or out of Levels 1, 2 or 3.
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NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
NOTE 4: PARTY-IN-INTEREST TRANSACTIONS
As of December 31, 2019 and 2018, Plan investments included units held in a collective trust managed by BNY Mellon, BNY Mellon common stock and interest-bearing cash managed by BNY Mellon. Transactions with this entity qualify as exempt party-in-interest transactions. Fees paid by the Plan to BNY Mellon were $899 for 2019 and fees payable to BNY Mellon were $166 as of December 31, 2019. Fees paid by the Plan to Alight Solutions were $2,378 for 2019.
As the Plan sponsor, the Company is a party-in-interest with respect to the Plan. As of December 31, 2019 and 2018, the Plan held 3,596 and 3,732 shares of Nordstrom common stock, with a cost basis of $159,830 and $170,479. The Plan recorded dividend income from Nordstrom common stock of $5,465 during 2019.
NOTE 5: FEDERAL INCOME TAX STATUS
The Plan as amended and restated as of January 1, 2019 is an individually designed plan. While the restated Plan document does not have a determination letter from the IRS, the Company and Plan management believe that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC, and the Plan and related trust continue to be tax-exempt. Therefore, no provision for income taxes has been included in the Plan’s financial statements.
GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has concluded that as of December 31, 2019 and 2018, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.
NOTE 6: PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. Under the Plan, the Company may also temporarily suspend contributions, which does not constitute or require termination of the Plan.
In the event the Plan is terminated, the respective accounts of the participants under the Plan shall become fully vested and nonforfeitable. After payment of expenses properly chargeable against the Plan, the trustee shall distribute all Plan assets to the participants in the proportions determined by their respective accounts.
NOTE 7: EXCESS CONTRIBUTIONS PAYABLE TO PARTICIPANTS
The Plan is subject to certain non-discrimination rules under ERISA and the IRC. For 2019 and 2018, the Plan failed certain non-discrimination tests under the IRC due to lower deferral percentages by non-highly compensated eligible employees relative to the deferral percentages of highly compensated eligible employees. In order to meet the requirements of the non-discrimination rules, the Plan refunded a portion of the contributions made by highly compensated participants, in accordance with applicable provisions of the IRC. Additionally, the Plan is required to return contributions received from participants during the Plan year in excess of the IRC limits (see Note 1: Description of the Plan for additional information on IRS contribution limitations). These refunds are accrued within excess contributions payable to participants in the Statements of Net Assets Available for Benefits and reduce participant contributions on the Statement of Changes in Net Assets Available for Benefits. The net refund for 2019, paid in March 2020, totaled $2,988 and included approximately $492 of investment earnings. The net refund for 2018, paid in March 2019, totaled $2,074 and included approximately $126 of investment loss.
NOTE 8: RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
As of December 31, 2019, the Plan had pending investment purchases and sales of $9,983 and $22,795 that settled subsequent to year end. These transactions were classified in due to broker for securities purchased and accrued income and broker receivable on the Statement of Net Assets Available for Benefits, and are not included in Schedule H, Line 4(i) - Schedule of Assets. Net Assets available for benefits per the financial statements reflects and is equal to net assets available for benefits in the Form 5500.
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NORDSTROM 401(k) PLAN
SCHEDULE H, LINE 4(i) — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF DECEMBER 31, 2019
EIN: 91-0515058
Plan #: 001
(Dollars in thousands)
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| * | EB Temporary Investment Fund | CCT - due 12/31/2049 - 1.147% | ** | 23,976 | ||||||||||||||||||||||
| Schroder International Multi-Cap Equity Trust - Class 2 | CCT | ** | 224,556 | |||||||||||||||||||||||
| Putnam Stable Value Fund | CCT | ** | 287,687 | |||||||||||||||||||||||
| Loomis Core Plus Fixed Income Fund | CCT | ** | 379,769 | |||||||||||||||||||||||
| SSGA TIPS Index | CCT | ** | 62,707 | |||||||||||||||||||||||
| Abbvie, Inc. | Common stock | ** | 4,216 | |||||||||||||||||||||||
| Abiomed, Inc. | Common stock | ** | 2,512 | |||||||||||||||||||||||
| Advance Auto Parts, Inc. | Common stock | ** | 2,710 | |||||||||||||||||||||||
| Advanced Micro Devices, Inc. | Common stock | ** | 3,779 | |||||||||||||||||||||||
| Aegon N.V. | Common stock | ** | 1,713 | |||||||||||||||||||||||
| Alphabet, Inc. Class A | Common stock | ** | 7,581 | |||||||||||||||||||||||
| Alphabet, Inc. Class C | Common stock | ** | 12,568 | |||||||||||||||||||||||
| Altice USA, Inc. | Common stock | ** | 3,587 | |||||||||||||||||||||||
| Amazon.com, Inc. | Common stock | ** | 17,767 | |||||||||||||||||||||||
| Amedisys, Inc. | Common stock | ** | 3,739 | |||||||||||||||||||||||
| American Express Co. | Common stock | ** | 5,428 | |||||||||||||||||||||||
| American Tower Corp. | Common stock | ** | 6,520 | |||||||||||||||||||||||
| AMETEK, Inc. | Common stock | ** | 4,235 | |||||||||||||||||||||||
| Anaplan, Inc. | Common stock | ** | 2,024 | |||||||||||||||||||||||
| Apache Corp. | Common stock | ** | 4,258 | |||||||||||||||||||||||
| Apple, Inc. | Common stock | ** | 16,037 | |||||||||||||||||||||||
| Ares Management Corp. | Common stock | ** | 2,212 | |||||||||||||||||||||||
| Aspen Technology, Inc. | Common stock | ** | 4,483 | |||||||||||||||||||||||
| AstraZeneca PLC | Common stock | ** | 6,377 | |||||||||||||||||||||||
| Avalara, Inc. | Common stock | ** | 3,265 | |||||||||||||||||||||||
| Avery Dennison Corp. | Common stock | ** | 967 | |||||||||||||||||||||||
| Axalta Coating Systems Ltd. | Common stock | ** | 2,268 | |||||||||||||||||||||||
| Baker Hughes Co. | Common stock | ** | 6,305 | |||||||||||||||||||||||
| Bank of America Corp. | Common stock | ** | 12,116 | |||||||||||||||||||||||
| Baxter International, Inc. | Common stock | ** | 4,765 | |||||||||||||||||||||||
| Berry Global Group, Inc. | Common stock | ** | 1,106 | |||||||||||||||||||||||
| Alnylam Pharmaceuticals, Inc. | Common stock | ** | 1,866 | |||||||||||||||||||||||
| Biomarin Pharmaceutical | Common stock | ** | 1,251 | |||||||||||||||||||||||
| BJ's Wholesale Club Holdings I | Common stock | ** | 4,447 | |||||||||||||||||||||||
| Booking Holdings, Inc. | Common stock | ** | 7,085 | |||||||||||||||||||||||
| Booz Allen Hamilton Holding Co. | Common stock | ** | 4,032 | |||||||||||||||||||||||
| Boston Scientific Corp. | Common stock | ** | 5,236 | |||||||||||||||||||||||
| Brighthouse Financial, Inc. | Common stock | ** | 1,350 | |||||||||||||||||||||||
| Bristol-Myers Squibb Co. | Common stock | ** | 10,206 | |||||||||||||||||||||||
| Broadcom, Inc. | Common stock | ** | 5,249 | |||||||||||||||||||||||
| Burlington Stores, Inc. | Common stock | ** | 10,913 | |||||||||||||||||||||||
| BWX Technologies, Inc. | Common stock | ** | 9,081 | |||||||||||||||||||||||
| Cable One, Inc. | Common stock | ** | 3,912 | |||||||||||||||||||||||
* Party-in-interest | ||||||||||||||||||||||||||
** Cost information is not required for participant-directed investments and therefore is not included. | ||||||||||||||||||||||||||
12 of 19
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| Capital One Financial Corp. | Common stock | ** | 13,255 | |||||||||||||||||||||||
| CBOE Global Markets, Inc. | Common stock | ** | 2,783 | |||||||||||||||||||||||
| CDW Corp. | Common stock | ** | 3,072 | |||||||||||||||||||||||
| Celanese Corp. | Common stock | ** | 3,607 | |||||||||||||||||||||||
| Charter Communications, Inc. | Common stock | ** | 12,273 | |||||||||||||||||||||||
| Church & Dwight Co., Inc. | Common stock | ** | 1,832 | |||||||||||||||||||||||
| Cigna Corp. | Common stock | ** | 10,913 | |||||||||||||||||||||||
| Cisco Systems, Inc. | Common stock | ** | 3,189 | |||||||||||||||||||||||
| Cognizant Technology Solutions | Common stock | ** | 3,566 | |||||||||||||||||||||||
| Comcast Corp. | Common stock | ** | 17,116 | |||||||||||||||||||||||
| Concho Resources, Inc. | Common stock | ** | 3,056 | |||||||||||||||||||||||
| Constellation Brands, Inc. | Common stock | ** | 3,309 | |||||||||||||||||||||||
| Copart, Inc. | Common stock | ** | 2,766 | |||||||||||||||||||||||
| Crown Holdings, Inc. | Common stock | ** | 6,453 | |||||||||||||||||||||||
| CSX Corp. | Common stock | ** | 5,167 | |||||||||||||||||||||||
| CVS Health Corp. | Common stock | ** | 4,532 | |||||||||||||||||||||||
| Dell Technologies, Inc. | Common stock | ** | 3,618 | |||||||||||||||||||||||
| Delta Air Lines, Inc. | Common stock | ** | 2,535 | |||||||||||||||||||||||
| Dexcom, Inc. | Common stock | ** | 3,600 | |||||||||||||||||||||||
| Dish Network Corp. | Common stock | ** | 3,246 | |||||||||||||||||||||||
| Domino's Pizza, Inc. | Common stock | ** | 2,651 | |||||||||||||||||||||||
| Eli Lilly & Company | Common stock | ** | 7,323 | |||||||||||||||||||||||
| Encompass Health Corp. | Common stock | ** | 6,871 | |||||||||||||||||||||||
| Encore Capital Group, Inc. | Common stock | ** | 2,286 | |||||||||||||||||||||||
| Entegris, Inc. | Common stock | ** | 1,375 | |||||||||||||||||||||||
| Etsy, Inc. | Common stock | ** | 2,096 | |||||||||||||||||||||||
| Euronet Worldwide, Inc. | Common stock | ** | 6,780 | |||||||||||||||||||||||
| Facebook, Inc. | Common stock | ** | 15,087 | |||||||||||||||||||||||
| Fedex Corp. | Common stock | ** | 11,991 | |||||||||||||||||||||||
| Fidelity National Information Services, Inc. | Common stock | ** | 4,220 | |||||||||||||||||||||||
| FirstCash, Inc. | Common stock | ** | 3,446 | |||||||||||||||||||||||
| FirstService Corp. | Common stock | ** | 2,677 | |||||||||||||||||||||||
| Fiserv, Inc. | Common stock | ** | 6,429 | |||||||||||||||||||||||
| Fox Corp. | Common stock | ** | 4,484 | |||||||||||||||||||||||
| Generac Holdings, Inc. | Common stock | ** | 2,164 | |||||||||||||||||||||||
| Gilead Sciences, Inc. | Common stock | ** | 3,879 | |||||||||||||||||||||||
| Glaukos Corp. | Common stock | ** | 2,329 | |||||||||||||||||||||||
| GlaxoSmithKline PLC | Common stock | ** | 7,457 | |||||||||||||||||||||||
| GoDaddy, Inc. | Common stock | ** | 7,383 | |||||||||||||||||||||||
| Grand Canyon Education, Inc. | Common stock | ** | 5,920 | |||||||||||||||||||||||
| Guidewire Software, Inc. | Common stock | ** | 2,832 | |||||||||||||||||||||||
| Halliburton Co. | Common stock | ** | 3,878 | |||||||||||||||||||||||
| Halozyme Therapeutics Inc. | Common stock | ** | 2,489 | |||||||||||||||||||||||
| Harley-Davidson, Inc. | Common stock | ** | 1,123 | |||||||||||||||||||||||
| Healthcare Services Group, Inc. | Common stock | ** | 2,941 | |||||||||||||||||||||||
| HEICO Corp. | Common stock | ** | 3,049 | |||||||||||||||||||||||
| Hess Corp. | Common stock | ** | 3,247 | |||||||||||||||||||||||
| Hewlett Packard Enterprise Co. | Common stock | ** | 6,281 | |||||||||||||||||||||||
| Hilton Worldwide Holdings, Inc. | Common stock | ** | 4,419 | |||||||||||||||||||||||
| Horizon Therapeutics PLC | Common stock | ** | 6,437 | |||||||||||||||||||||||
| HP, Inc. | Common stock | ** | 7,823 | |||||||||||||||||||||||
| Humana, Inc. | Common stock | ** | 6,055 | |||||||||||||||||||||||
| Incyte Corp. | Common stock | ** | 961 | |||||||||||||||||||||||
13 of 20
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| Ingersoll-Rand PLC | Common stock | ** | 3,828 | |||||||||||||||||||||||
| Inspire Medical Systems, Inc. | Common stock | ** | 1,791 | |||||||||||||||||||||||
| Insulet Corp. | Common stock | ** | 6,470 | |||||||||||||||||||||||
| Intercontintental Exchange, Inc. | Common stock | ** | 2,851 | |||||||||||||||||||||||
| Intuit, Inc. | Common stock | ** | 7,945 | |||||||||||||||||||||||
| iRhythm Technologies, Inc. | Common stock | ** | 2,083 | |||||||||||||||||||||||
| J2 Global, Inc. | Common stock | ** | 4,106 | |||||||||||||||||||||||
| Johnson Controls International PLC | Common stock | ** | 8,468 | |||||||||||||||||||||||
| Jones Lang LaSalle, Inc. | Common stock | ** | 3,534 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Common stock | ** | 6,092 | |||||||||||||||||||||||
| Juniper Networks, Inc. | Common stock | ** | 3,695 | |||||||||||||||||||||||
| L3Harris Technologies, Inc. | Common stock | ** | 3,007 | |||||||||||||||||||||||
| Lam Research Corp. | Common stock | ** | 5,492 | |||||||||||||||||||||||
| Lamb Weston Holdings, Inc. | Common stock | ** | 6,531 | |||||||||||||||||||||||
| Ligand Pharmaceuticals, Inc. | Common stock | ** | 3,067 | |||||||||||||||||||||||
| Live Nation Entertainment, Inc. | Common stock | ** | 5,892 | |||||||||||||||||||||||
| LyondellBasell Industries NV | Common stock | ** | 542 | |||||||||||||||||||||||
| Martin Marietta Materials, Inc. | Common stock | ** | 7,200 | |||||||||||||||||||||||
| Mattel, Inc. | Common stock | ** | 1,608 | |||||||||||||||||||||||
| Maxim Integrated Products, Inc. | Common stock | ** | 1,599 | |||||||||||||||||||||||
| Medtronic PLC | Common stock | ** | 1,645 | |||||||||||||||||||||||
| Merck & Co., Inc. | Common stock | ** | 8,067 | |||||||||||||||||||||||
| MetLife, Inc. | Common stock | ** | 7,977 | |||||||||||||||||||||||
| Micro Focus International PLC | Common stock | ** | 1,643 | |||||||||||||||||||||||
| Microchip Technology, Inc. | Common stock | ** | 7,802 | |||||||||||||||||||||||
| Microsoft Corp. | Common stock | ** | 29,153 | |||||||||||||||||||||||
| Molson Coors Beverage Co. | Common stock | ** | 3,175 | |||||||||||||||||||||||
| Mondelez International, Inc. | Common stock | ** | 2,791 | |||||||||||||||||||||||
| Motorola Solutions, Inc. | Common stock | ** | 4,507 | |||||||||||||||||||||||
| National Instruments Corp. | Common stock | ** | 2,347 | |||||||||||||||||||||||
| National Oilwell Varco, Inc. | Common stock | ** | 2,029 | |||||||||||||||||||||||
| News Corp. | Common stock | ** | 604 | |||||||||||||||||||||||
| Nice Ltd. | Common stock | ** | 4,720 | |||||||||||||||||||||||
| * | Nordstrom, Inc. | Common stock | ** | 147,195 | ||||||||||||||||||||||
| Novanta, Inc. | Common stock | ** | 2,012 | |||||||||||||||||||||||
| Novartis AG | Common stock | ** | 8,105 | |||||||||||||||||||||||
| NXP Semiconductors NV | Common stock | ** | 4,373 | |||||||||||||||||||||||
| Occidental Petroleum Corp. | Common stock | ** | 11,419 | |||||||||||||||||||||||
| Ollie's Bargain Outlet Holding | Common stock | ** | 2,643 | |||||||||||||||||||||||
| O'Reilly Automotive, Inc. | Common stock | ** | 6,487 | |||||||||||||||||||||||
| Parsley Energy, Inc. | Common stock | ** | 1,532 | |||||||||||||||||||||||
| Penumbra, Inc. | Common stock | ** | 4,604 | |||||||||||||||||||||||
| Perspecta, Inc. | Common stock | ** | 2,031 | |||||||||||||||||||||||
| Philip Morris International IN | Common stock | ** | 4,926 | |||||||||||||||||||||||
| Planet Fitness, Inc. | Common stock | ** | 2,779 | |||||||||||||||||||||||
| Portola Pharmaceuticals, Inc. | Common stock | ** | 3,575 | |||||||||||||||||||||||
| Proofpoint, Inc. | Common stock | ** | 2,753 | |||||||||||||||||||||||
| Pure Storage, Inc. | Common stock | ** | 5,207 | |||||||||||||||||||||||
| Qualys, Inc. | Common stock | ** | 607 | |||||||||||||||||||||||
| Qurate Retail, Inc. | Common stock | ** | 1,656 | |||||||||||||||||||||||
| Ritchie Bros Auctioneers, Inc. | Common stock | ** | 3,189 | |||||||||||||||||||||||
| Roche Holding AG | Common stock | ** | 8,266 | |||||||||||||||||||||||
| Rogers Corp. | Common stock | ** | 2,220 | |||||||||||||||||||||||
14 of 20
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| Roper Technologies, Inc. | Common stock | ** | 2,688 | |||||||||||||||||||||||
| Ross Stores, Inc. | Common stock | ** | 2,911 | |||||||||||||||||||||||
| S&P Global, Inc. | Common stock | ** | 2,963 | |||||||||||||||||||||||
| Sabre Corp. | Common stock | ** | 4,327 | |||||||||||||||||||||||
| Salesforce.com, Inc. | Common stock | ** | 6,320 | |||||||||||||||||||||||
| Sanofi | Common stock | ** | 10,196 | |||||||||||||||||||||||
| Schlumberger Ltd. | Common stock | ** | 4,965 | |||||||||||||||||||||||
| Signature Bank/New York NY | Common stock | ** | 2,662 | |||||||||||||||||||||||
| SiteOne Landscape Supply, Inc. | Common stock | ** | 2,702 | |||||||||||||||||||||||
| Sprint Corp. | Common stock | ** | 1,555 | |||||||||||||||||||||||
| State Street Corp. | Common stock | ** | 443 | |||||||||||||||||||||||
| Steris PLC | Common stock | ** | 3,946 | |||||||||||||||||||||||
| Synopsys, Inc. | Common stock | ** | 3,278 | |||||||||||||||||||||||
| TE Connectivity Ltd. | Common stock | ** | 6,421 | |||||||||||||||||||||||
| Teledyne Technologies, Inc. | Common stock | ** | 6,674 | |||||||||||||||||||||||
| Teleflex, Inc. | Common stock | ** | 5,493 | |||||||||||||||||||||||
| * | The Bank Of New York Mellon Corp. | Common stock | ** | 7,449 | ||||||||||||||||||||||
| The Boeing Co. | Common stock | ** | 5,248 | |||||||||||||||||||||||
| The Brink's Co. | Common stock | ** | 3,906 | |||||||||||||||||||||||
| The Charles Schwab Corp. | Common stock | ** | 14,772 | |||||||||||||||||||||||
| The Gap, Inc. | Common stock | ** | 1,733 | |||||||||||||||||||||||
| The Goldman Sachs Group, Inc. | Common stock | ** | 8,209 | |||||||||||||||||||||||
| The Progressive Corp. | Common stock | ** | 2,388 | |||||||||||||||||||||||
| TransUnion | Common stock | ** | 5,407 | |||||||||||||||||||||||
| Trex Co., Inc. | Common stock | ** | 7,662 | |||||||||||||||||||||||
| Truist Financial Corp. | Common stock | ** | 4,979 | |||||||||||||||||||||||
| United Technologies Corp. | Common stock | ** | 8,102 | |||||||||||||||||||||||
| UnitedHealth Group, Inc. | Common stock | ** | 7,350 | |||||||||||||||||||||||
| Vail Resorts, Inc. | Common stock | ** | 4,335 | |||||||||||||||||||||||
| Varonis Systems, Inc. | Common stock | ** | 2,138 | |||||||||||||||||||||||
| Veracyte, Inc. | Common stock | ** | 1,886 | |||||||||||||||||||||||
| Vertex Pharmaceuticals, Inc. | Common stock | ** | 4,356 | |||||||||||||||||||||||
| VIRTU Financial, Inc. | Common stock | ** | 2,566 | |||||||||||||||||||||||
| Visa, Inc. | Common stock | ** | 12,018 | |||||||||||||||||||||||
| Wayfair, Inc. | Common stock | ** | 1,958 | |||||||||||||||||||||||
| Wells Fargo & Co. | Common stock | ** | 14,225 | |||||||||||||||||||||||
| WEX, Inc. | Common stock | ** | 3,805 | |||||||||||||||||||||||
| World Wrestling Entertainment | Common stock | ** | 3,077 | |||||||||||||||||||||||
| Zynga, Inc. | Common stock | ** | 3,384 | |||||||||||||||||||||||
| ABBVIE INC 144A | Corporate Debt - due 11/21/2029 - 3.200% | ** | 687 | |||||||||||||||||||||||
| ABBVIE INC 144A | Corporate Debt - due 11/21/2039 - 4.050% | ** | 441 | |||||||||||||||||||||||
| ABBVIE INC 144A | Corporate Debt - due 11/21/2049 - 4.250% | ** | 212 | |||||||||||||||||||||||
| AT&T, Inc. | Corporate debt - due 11/15/2031 - Variable | ** | 132 | |||||||||||||||||||||||
| AT&T, Inc. | Corporate debt - due 2/15/2047- 5.650% | ** | 478 | |||||||||||||||||||||||
| AT&T, Inc. | Corporate debt - due 3/1/2047 - 5.450% | ** | 590 | |||||||||||||||||||||||
| AT&T, Inc. | Corporate debt - due 5/15/2046 - 4.750% | ** | 198 | |||||||||||||||||||||||
| AT&T, Inc. | Corporate debt - due 9/1/2040 - 5.350% | ** | 332 | |||||||||||||||||||||||
| Bank of America Corp. | Corporate debt - due 11/25/2027 - 4.183% | ** | 244 | |||||||||||||||||||||||
| Bank of America Corp. | Corporate debt - due 12/20/2023 - Variable | ** | 1,453 | |||||||||||||||||||||||
| Bank of America Corp. | Corporate debt - due 3/3/2026 - 4.450% | ** | 165 | |||||||||||||||||||||||
| Bank of America Corp. | Corporate debt - due 8/26/2024 - 4.200% | ** | 483 | |||||||||||||||||||||||
| Barclays PLC | Corporate Debt - due 5/12/2026 - 5.200% | ** | 246 | |||||||||||||||||||||||
| Barclays PLC | Corporate Debt - due 5/9/2028 - 4.836% | ** | 216 | |||||||||||||||||||||||
15 of 20
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| Barclays PLC | Corporate Debt - due 9/11/2024 - 4.375% | ** | 315 | |||||||||||||||||||||||
| Bayer U.S. Finance II LLC 144A | Corporate Debt - due 12/15/2025 - 4.250% | ** | 297 | |||||||||||||||||||||||
| Bayer U.S. Finance II LLC 144A | Corporate Debt - due 12/15/2028 - 4.375% | ** | 628 | |||||||||||||||||||||||
| BNP Paribas S.A. | Corporate Debt - due 10/15/2024 - 4.250% | ** | 885 | |||||||||||||||||||||||
| BNP Paribas S.A. 144A | Corporate Debt - due 3/13/2027 - 4.625% | ** | 820 | |||||||||||||||||||||||
| BNP Paribas S.A. 144A | Corporate Debt - due 9/28/2025 - 4.375% | ** | 781 | |||||||||||||||||||||||
| BNSF Railway Co. | Corporate Debt - due 4/1/2024 - 5.996% | ** | 129 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 1/15/2025 - 3.200% | ** | 182 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 12/1/2028 - 4.500% | ** | 403 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 2/1/2023 - 3.850% | ** | 419 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 2/1/2026 - 3.650% | ** | 238 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 5/15/2021 - 4.125% | ** | 128 | |||||||||||||||||||||||
| Burlington Northern Santa Fe LLC | Corporate Debt - due 1/15/2021 - 8.251% | ** | 114 | |||||||||||||||||||||||
| Burlington Northern Santa Fe LLC | Corporate Debt - due 9/1/2023 - 3.850% | ** | 212 | |||||||||||||||||||||||
| Capital One Financial Corp. | Corporate Debt - due 10/29/2025 - 4.200% | ** | 513 | |||||||||||||||||||||||
| Capital One Financial Corp. | Corporate Debt - due 2/5/2025 - 3.200% | ** | 440 | |||||||||||||||||||||||
| CEMEX Finance LLC 144A | Corporate Debt - due 4/1/2024 - 6.000% | ** | 692 | |||||||||||||||||||||||
| CEMEX SAB de CV 144A | Corporate Debt - due 1/11/2025 - 5.700% | ** | 617 | |||||||||||||||||||||||
| CEMEX SAB de CV 144A | Corporate Debt - due 5/5/2025 - 6.125% | ** | 208 | |||||||||||||||||||||||
| Charter Communications Operating LLC | Corporate Debt - due 10/23/2045 - 6.484% | ** | 1,860 | |||||||||||||||||||||||
| Charter Communications Operating LLC | Corporate Debt - due 4/1/2048 - 5.750% | ** | 730 | |||||||||||||||||||||||
| Charter Communications Operating LLC | Corporate Debt - due 5/1/2047 - 5.375% | ** | 365 | |||||||||||||||||||||||
| Cigna Corp. | Corporate Debt - due 11/15/2025 - 4.125% | ** | 190 | |||||||||||||||||||||||
| Cigna Corp. | Corporate Debt - due 7/15/2023 - 3.750% | ** | 1,075 | |||||||||||||||||||||||
| Cigna Corp. 144A | Corporate Debt - due 2/15/2022 - 4.000% | ** | 155 | |||||||||||||||||||||||
| Cigna Corp. 144A | Corporate Debt - due 5/15/2027 - 7.875% | ** | 247 | |||||||||||||||||||||||
| Cigna Holding Co. | Corporate Debt - due 6/15/2020 - 5.125% | ** | 76 | |||||||||||||||||||||||
| Citigroup, Inc. | Corporate Debt - due 5/15/2023 - 3.500% | ** | 104 | |||||||||||||||||||||||
| Citigroup, Inc. | Corporate Debt - due 8/5/2024 - 4.000% | ** | 776 | |||||||||||||||||||||||
| Cox Communications, Inc. 144A | Corporate Debt - due 2/1/2025 - 3.850% | ** | 885 | |||||||||||||||||||||||
| Cox Communications, Inc. 144A | Corporate Debt - due 8/15/2027 - 3.500% | ** | 313 | |||||||||||||||||||||||
| CRH America, Inc. 144A | Corporate Debt - due 5/18/2025 - 3.875% | ** | 347 | |||||||||||||||||||||||
| CSX Transportation, Inc. | Corporate Debt - due 1/15/2023 - 6.251% | ** | 166 | |||||||||||||||||||||||
| CVS Health Corp. | Corporate debt - due 3/25/2025 - 4.100% | ** | 188 | |||||||||||||||||||||||
| CVS Health Corp. | Corporate debt - due 3/25/2028 - 4.300% | ** | 453 | |||||||||||||||||||||||
| CVS Health Corp. | Corporate debt - due 3/25/2038 - 4.780% | ** | 227 | |||||||||||||||||||||||
| Dell International LLC 144A | Corporate Debt - due 6/15/2023 - 5.450% | ** | 325 | |||||||||||||||||||||||
| Dillard's, Inc. | Corporate Debt - due 5/15/2027 - 7.750% | ** | 486 | |||||||||||||||||||||||
| Dominion Energy, Inc. | Corporate Debt - due 10/1/2054 - Variable | ** | 755 | |||||||||||||||||||||||
| Dominion Energy, Inc. | Corporate Debt - due 4/1/2021 - Variable | ** | 179 | |||||||||||||||||||||||
| Dominion Energy, Inc. | Corporate Debt - due 7/1/2020 - Variable | ** | 200 | |||||||||||||||||||||||
| Elanco Animal Health, Inc. | Corporate Debt - due 8/27/2021 - Variable | ** | 103 | |||||||||||||||||||||||
| Elanco Animal Health, Inc. | Corporate Debt - due 8/28/2023 - Variable | ** | 106 | |||||||||||||||||||||||
| Elanco Animal Health, Inc. | Corporate Debt - due 8/28/2028 - Variable | ** | 218 | |||||||||||||||||||||||
| Enel Finance International 144A | Corporate Debt - due 10/7/2039 - 6.000% | ** | 630 | |||||||||||||||||||||||
| Enel Finance International 144A | Corporate Debt - due 9/14/2025 - 4.625% | ** | 491 | |||||||||||||||||||||||
| Enel Finance International 144A | Corporate Debt - due 9/15/2037 - 6.800% | ** | 766 | |||||||||||||||||||||||
| ERP Operating LP | Corporate Debt - due 4/15/2023 - 3.000% | ** | 772 | |||||||||||||||||||||||
| Federal Express Corp. 1998 Pass | Corporate Debt - due 7/15/2023 - 6.720% | ** | 44 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 1/15/2020 - 8.125% | ** | 200 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 1/7/2022 - 5.596% | ** | 343 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 10/12/2021 - 3.813% | ** | 586 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 2/1/2021 - 5.750% | ** | 206 | |||||||||||||||||||||||
16 of 20
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 8/2/2021 - 5.875% | ** | 733 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 8/6/2023 - 4.375% | ** | 468 | |||||||||||||||||||||||
| HCA, Inc. | Corporate Debt - due 6/15/2029 - 4.125% | ** | 239 | |||||||||||||||||||||||
| HCA, Inc. | Corporate Debt - due 6/15/2039 - 5.125% | ** | 276 | |||||||||||||||||||||||
| HCA, Inc. | Corporate Debt - due 6/15/2049 - 5.250% | ** | 140 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 1/5/2022 - 2.650% | ** | 430 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 3/8/2026 - 4.300% | ** | 218 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 4/5/2021 - 5.100% | ** | 156 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 5/2/2036 - 6.500% | ** | 1,196 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 9/15/2037 - 6.500% | ** | 553 | |||||||||||||||||||||||
| Imperial Brands Finance PLC 144A | Corporate Debt - due 7/21/2025 - 4.250% | ** | 1,557 | |||||||||||||||||||||||
| Imperial Brands Finance PLC 144A | Corporate Debt - due 7/26/2029 - 3.875% | ** | 328 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corporate Debt - due 10/1/2027 - 4.250% | ** | 194 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corporate Debt - due 12/15/2026 - 4.125% | ** | 493 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corprorate Debt - Due 7/23/2024 - Variable | ** | 870 | |||||||||||||||||||||||
| Kinder Morgan Energy Partners | Corporate Debt - due 8/15/2042 - 5.000% | ** | 845 | |||||||||||||||||||||||
| Kinder Morgan Energy Partners | Corporate Debt - due 9/1/2039 - 6.500% | ** | 316 | |||||||||||||||||||||||
| Kinder Morgan Energy Partners | Corporate Debt - due 9/1/2044 - 5.400% | ** | 778 | |||||||||||||||||||||||
| Lloyds Banking Group PLC | Corporate Debt - due 11/4/2024 - 4.500% | ** | 615 | |||||||||||||||||||||||
| Lloyds Banking Group PLC | Corporate Debt - due 3/24/2026 - 4.650% | ** | 571 | |||||||||||||||||||||||
| Macy's Retail Holdings, Inc. | Corporate Debt - due 3/15/2037 - 6.375% | ** | 165 | |||||||||||||||||||||||
| Macy's Retail Holdings, Inc. | Corporate Debt - due 9/15/2028 - 6.700% | ** | 286 | |||||||||||||||||||||||
| * | Nordstrom, Inc. | Corprorate Debt - due 3/15/2028 - 6.950% | ** | 321 | ||||||||||||||||||||||
| Occidental Petroleum Corp. | Corporate Debt - due 8/15/2024 - 2.900% | ** | 788 | |||||||||||||||||||||||
| Occidental Petroleum Corp. | Corporate Debt - due 8/15/2026 - 3.200% | ** | 101 | |||||||||||||||||||||||
| Petrobras Global Finance 144A | Corporate Debt - due 1/15/2030 - 5.093% | ** | 349 | |||||||||||||||||||||||
| Petrobras Global Finance B.V. | Corporate Debt - due 3/17/2044 - 7.250% | ** | 243 | |||||||||||||||||||||||
| Petrobras Global Finance B.V. | Corporate Debt - due 3/19/2049 - 6.900% | ** | 205 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 1/23/2030 - 6.840% | ** | 272 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 1/23/2045 - 6.375% | ** | 1,012 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 3/13/2027 - 6.500% | ** | 849 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 6/15/2035 - 6.625% | ** | 435 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 8/4/2026 - 6.875% | ** | 192 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 9/21/2047 - 6.750% | ** | 401 | |||||||||||||||||||||||
| PROSUS NV 144A | Corporate Debt - due 7/21/2025 - 5.500% | ** | 944 | |||||||||||||||||||||||
| PROSUS NV 144A | Corporate Debt - due 7/6/2027 - 4.850% | ** | 708 | |||||||||||||||||||||||
| PROSUS NV 144A | Corporate Debt - due 7/18/2020 - 6.000% | ** | 559 | |||||||||||||||||||||||
| RELX Capital, Inc. | Corporate Debt - due 10/15/2022 - 3.125% | ** | 583 | |||||||||||||||||||||||
| RELX Capital, Inc. | Corporate Debt - due 3/18/2029 - 4.000% | ** | 272 | |||||||||||||||||||||||
| Rio Oil Finance Trust Series 144A | Corporate Debt - due 1/6/2027 - 9.750% | ** | 857 | |||||||||||||||||||||||
| Rio Oil Finance Trust Series 144A | Corporate Debt - due 4/6/2028 - 8.200% | ** | 433 | |||||||||||||||||||||||
| Rio Oil Finance Trust Series 144A | Corporate Debt - due 7/6/2024 - 9.250% | ** | 937 | |||||||||||||||||||||||
| Royal Bank of Scotland Group PLC | Corporate Debt - due 12/15/2022 - 6.125% | ** | 1,259 | |||||||||||||||||||||||
| Royal Bank of Scotland Group PLC | Corporate Debt - due 12/19/2023 - 6.000% | ** | 945 | |||||||||||||||||||||||
| SLM Student Loan Trust 2 9 A7A | Corporate Debt - due 1/25/2041 - Variable | ** | 743 | |||||||||||||||||||||||
| SLM Student Loan Trust 20 3 A6 | Corporate Debt - due 4/25/2040 - Variable | ** | 4,199 | |||||||||||||||||||||||
| SLM Student Loan Trust 20 8 A6 | Corporate Debt - due 1/25/2041 - Variable | ** | 4,423 | |||||||||||||||||||||||
| Telecom Italia Capital S.A. | Corporate Debt - due 6/4/2038 - 7.721% | ** | 677 | |||||||||||||||||||||||
| Telecom Italia Capital S.A. | Corporate Debt - due 7/18/2036 - 7.200% | ** | 148 | |||||||||||||||||||||||
| Telecom Italia SPA 144A | Corporate Debt - due 5/30/2024 - 5.303% | ** | 726 | |||||||||||||||||||||||
| The Dow Chemical Co. | Corporate Debt - due 11/1/2029 - 7.375% | ** | 232 | |||||||||||||||||||||||
| The Dow Chemical Co. | Corporate Debt - due 11/30/2048 - 5.550% | ** | 250 | |||||||||||||||||||||||
| The Dow Chemical Co. | Corporate Debt - due 5/15/2039 - 9.400% | ** | 573 | |||||||||||||||||||||||
17 of 20
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| Time Warner Cable LLC | Corporate Debt - due 2/1/2020 - 5.000% | ** | 150 | |||||||||||||||||||||||
| Time Warner Cable LLC | Corporate Debt - due 2/15/2021 - 4.125% | ** | 279 | |||||||||||||||||||||||
| Time Warner Cable LLC | Corporate Debt - due 7/1/2038 - 7.300% | ** | 424 | |||||||||||||||||||||||
| Time Warner Cable LLC | Corporate Debt - due 9/1/2021 - 4.000% | ** | 230 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 3/15/2077 - Variable | ** | 924 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 5/20/2075 - Variable | ** | 599 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 8/15/2076 - Variable | ** | 188 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 9/15/2079 - Variable | ** | 446 | |||||||||||||||||||||||
| Ultrapar International S.A. 144A | Corporate Debt - due 10/6/2026 - 5.250% | ** | 376 | |||||||||||||||||||||||
| Ultrapar International S.A. 144A | Corporate Debt - due 6/6/2029 - 5.250% | ** | 501 | |||||||||||||||||||||||
| Unicredit Spa 144A | Corporate Debt - due 4/2/2034 - Variable | ** | 978 | |||||||||||||||||||||||
| Union Pacific Railroad Co. 2006 | Corporate Debt - due 7/2/2030 - 5.866% | ** | 675 | |||||||||||||||||||||||
| UNUM Group | Corporate Debt - due 3/15/2028 - 7.250% | ** | 280 | |||||||||||||||||||||||
| Verizon Communications, Inc. | Corporate Debt - due 1/15/2036 - 4.272% | ** | 538 | |||||||||||||||||||||||
| Walt Disney CO/THE | Corporate Debt - due 11/15/2037 - 6.650% | ** | 669 | |||||||||||||||||||||||
| Wells Fargo Bank NA | Corporate Debt - due 8/14/2023 - 3.550% | ** | 865 | |||||||||||||||||||||||
| Wells Fargo & Co. | Corporate Debt - due 7/22/2027 - 4.300% | ** | 849 | |||||||||||||||||||||||
| Xerox Corp. | Corporate Debt - due 5/15/2021 - 4.500% | ** | 1,104 | |||||||||||||||||||||||
| Zoetis, Inc. | Corporate Debt - due 11/13/2020 - 3.450% | ** | 177 | |||||||||||||||||||||||
| Zoetis, Inc. | Corporate Debt - due 11/13/2025 - 4.500% | ** | 388 | |||||||||||||||||||||||
| California State | Municipal Debt - due 10/1/2039 - 7.300% | ** | 878 | |||||||||||||||||||||||
| California State | Municipal Debt - due 3/1/2040 - 7.625% | ** | 320 | |||||||||||||||||||||||
| California State | Municipal Debt - due 4/1/2034 - 7.500% | ** | 512 | |||||||||||||||||||||||
| Illinois State | Municipal Debt - due 6/1/2033 - 5.100% | ** | 862 | |||||||||||||||||||||||
| Los Angeles CA Unified School District | Municipal Debt - due 7/1/2034 - 6.758% | ** | 586 | |||||||||||||||||||||||
| New Jersey State Turnpike Authority | Municipal Debt - due 1/1/2041 - 7.102% | ** | 915 | |||||||||||||||||||||||
| American Funds EuroPacific Growth Fund Class R-6 | Mutual Fund | ** | 506,437 | |||||||||||||||||||||||
| Neuberger Berman Genesis Fund Class R6 | Mutual Fund | ** | 203,190 | |||||||||||||||||||||||
| Vanguard Institutional Index Fund Institutional + | Mutual Fund | ** | 568,318 | |||||||||||||||||||||||
| * | Participant Loans | Loan interest rates range from 4.25% to 10.5% with various maturities through January 2040 | ** | 97,287 | ||||||||||||||||||||||
| Citigroup Capital XIII | Preferred Stock - 7.130% | ** | 828 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Preferred Stock - due 9/1/2030 - 8.750% | ** | 656 | |||||||||||||||||||||||
| Vodafone Group PLC | Preferred Stock - due 4/4/2079 - Variable | ** | 705 | |||||||||||||||||||||||
| SDB Money Market Fund | Self-directed Brokerage Money Market Fund | ** | 5,285 | |||||||||||||||||||||||
| Brokerage Securities | Self-directed Brokerage Securities | 26,213 | ||||||||||||||||||||||||
| FHLMC POOL #1H-2592 | U.S. Government Securities - due 1/1/2036 - Variable | ** | 82 | |||||||||||||||||||||||
| FHLMC POOL #78-1274 | U.S. Government Securities - due 2/1/2034 - Variable | ** | 61 | |||||||||||||||||||||||
| FHLMC POOL #84-0286 | U.S. Government Securities - due 5/1/2046 - Variable | ** | 413 | |||||||||||||||||||||||
| FHLMC POOL #84-9254 | U.S. Government Securities - due 1/1/2042 - Variable | ** | 103 | |||||||||||||||||||||||
| FHLMC POOL #84-9327 | U.S. Government Securities - due 5/1/2044 - Variable | ** | 468 | |||||||||||||||||||||||
| FHLMC POOL #84-9505 | U.S. Government Securities - due 10/1/2044 - Variable | ** | 160 | |||||||||||||||||||||||
| FHLMC POOL #84-9544 | U.S. Government Securities - due 12/1/2044 - Variable | ** | 250 | |||||||||||||||||||||||
| FHLMC POOL #84-9625 | U.S. Government Securities - due 1/1/2045 - Variable | ** | 290 | |||||||||||||||||||||||
| FHLMC POOL #84-9626 | U.S. Government Securities - due 8/1/2044 - Variable | ** | 329 | |||||||||||||||||||||||
| FHLMC POOL #84-9849 | U.S. Government Securities - due 10/1/2045 - Variable | ** | 123 | |||||||||||||||||||||||
| FHLMC POOL #C9-0981 | U.S. Government Securities - due 7/1/2026 - 6.500% | ** | 152 | |||||||||||||||||||||||
| FHLMC POOL #C9-1013 | U.S. Government Securities - due 1/1/2027 - 6.500% | ** | 119 | |||||||||||||||||||||||
| FHLMC POOL #G0-7600 | U.S. Government Securities - due 3/1/2042 - 4.500% | ** | 336 | |||||||||||||||||||||||
| FHLMC POOL #G0-8723 | U.S. Government Securities - due 8/1/2046 - 4.000% | ** | 2,405 | |||||||||||||||||||||||
| FHLMC POOL #G0-8768 | U.S. Government Securities - due 6/1/2047 - 4.500% | ** | 3,248 | |||||||||||||||||||||||
| FHLMC POOL #G0-8772 | U.S. Government Securities - due 7/1/2047 - 4.500% | ** | 1,116 | |||||||||||||||||||||||
| FHLMC POOL #G0-8832 | U.S .Governments Securities - due 7/01/2048 - 4.500% | ** | 2,977 | |||||||||||||||||||||||
18 of 20
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| FHLMC POOL #G6-0153 | U.S. Government Securities - due 10/1/2044 - 4.500% | ** | 213 | |||||||||||||||||||||||
| FHLMC POOL #G6-0764 | U.S. Government Securities - due 10/1/2042 - 4.500% | ** | 309 | |||||||||||||||||||||||
| FHLMC POOL #G6-1080 | U.S. Government Securities - due 3/1/2047 - 4.500% | ** | 2,549 | |||||||||||||||||||||||
| FHLMC POOL #H0-1774 | U.S. Government Securities - due 9/1/2037 - 6.500% | ** | 12 | |||||||||||||||||||||||
| FHLMC POOL #H0-9197 | U.S. Government Securities - due 10/1/2038 - 6.500% | ** | 15 | |||||||||||||||||||||||
| FHLMC POOL #H0-9212 | U.S. Government Securities - due 5/1/2038 - 5.500% | ** | 19 | |||||||||||||||||||||||
| FHLMC POOL #Q0-3517 | U.S. Government Securities - due 9/1/2041 - 4.500% | ** | 324 | |||||||||||||||||||||||
| FHLMC POOL #Q5-5948 | U.S. Government Securities - due 5/1/2048 - 4.500% | ** | 3,044 | |||||||||||||||||||||||
| FHLMC POOL #V8-4757 | U.S .Governments Securities - due 10/01/2048 - 4.500% | ** | 777 | |||||||||||||||||||||||
| FHLMC MULTICLASS MTG | U.S .Governments Securities - due 12/15/2043 - Variable | ** | 210 | |||||||||||||||||||||||
| FHLMC MULTICLASS MTG 2957 VZ | U.S. Government Securities - due 2/15/2035 - 5.000% | ** | 495 | |||||||||||||||||||||||
| FHLMC MULTICLASS MTG 4319 MA | U.S. Government Securities - due 3/15/2044 - Variable | ** | 383 | |||||||||||||||||||||||
| FNMA POOL #0256851 | U.S. Government Securities - due 8/1/2037 - 7.000% | ** | 26 | |||||||||||||||||||||||
| FNMA POOL #0735503 | U.S. Government Securities - due 4/1/2035 - 6.000% | ** | 93 | |||||||||||||||||||||||
| FNMA POOL #0735608 | U.S. Government Securities - due 3/1/2035 - Variable | ** | 172 | |||||||||||||||||||||||
| FNMA POOL #0745329 | U.S. Government Securities - due 7/1/2035 - 6.000% | ** | 143 | |||||||||||||||||||||||
| FNMA POOL #0884704 | U.S. Government Securities - due 6/1/2036 - Variable | ** | 43 | |||||||||||||||||||||||
| FNMA POOL #0888154 | U.S. Government Securities - due 11/1/2036 - Variable | ** | 92 | |||||||||||||||||||||||
| FNMA POOL #0888367 | U.S. Government Securities - due 3/1/2037 - 7.000% | ** | 269 | |||||||||||||||||||||||
| FNMA POOL #0889634 | U.S. Government Securities - due 2/1/2023 - 6.000% | ** | 67 | |||||||||||||||||||||||
| FNMA POOL #0889984 | U.S. Government Securities - due 10/1/2038 - 6.500% | ** | 107 | |||||||||||||||||||||||
| FNMA POOL #0976853 | U.S. Government Securities - due 11/1/2029 - 5.500% | ** | 123 | |||||||||||||||||||||||
| FNMA POOL #0995487 | U.S. Government Securities - due 8/1/2037 - 6.000% | ** | 178 | |||||||||||||||||||||||
| FNMA POOL #0AB1763 | U.S. Government Securities - due 11/1/2030 - 4.000% | ** | 89 | |||||||||||||||||||||||
| FNMA POOL #0AB8086 | U.S. Government Securities - due 10/1/2037 - 6.000% | ** | 46 | |||||||||||||||||||||||
| FNMA POOL #0AD0121 | U.S. Government Securities - due 9/1/2029 - 4.500% | ** | 269 | |||||||||||||||||||||||
| FNMA POOL #0AD0130 | U.S. Government Securities - due 8/1/2039 - 6.500% | ** | 26 | |||||||||||||||||||||||
| FNMA POOL #0AD0198 | U.S. Government Securities - due 9/1/2038 - 5.500% | ** | 72 | |||||||||||||||||||||||
| FNMA POOL #0AD0217 | U.S. Government Securities - due 8/1/2037 - 6.000% | ** | 165 | |||||||||||||||||||||||
| FNMA POOL #0AD0218 | U.S. Government Securities - due 9/1/2036 - 6.000% | ** | 174 | |||||||||||||||||||||||
| FNMA POOL #0AD0964 | U.S. Government Securities - due 11/1/2039 - 5.500% | ** | 344 | |||||||||||||||||||||||
| FNMA POOL #0AL1845 | U.S. Government Securities - due 6/1/2039 - Variable | ** | 52 | |||||||||||||||||||||||
| FNMA POOL #0AL1900 | U.S. Government Securities - due 8/1/2026 - 4.500% | ** | 137 | |||||||||||||||||||||||
| FNMA POOL #0AL4577 | U.S. Government Securities - due 1/1/2034 - 4.500% | ** | 275 | |||||||||||||||||||||||
| FNMA POOL #0AL5145 | U.S. Government Securities - due 10/1/2033 - 4.000% | ** | 446 | |||||||||||||||||||||||
| FNMA POOL #0AL5749 | U.S. Government Securities - due 7/1/2042 - 4.500% | ** | 300 | |||||||||||||||||||||||
| FNMA POOL #0AL6120 | U.S. Government Securities - due 11/1/2044 - Variable | ** | 850 | |||||||||||||||||||||||
| FNMA POOL #0AL6132 | U.S. Government Securities - due 3/1/2029 - 4.500% | ** | 168 | |||||||||||||||||||||||
| FNMA POOL #0AL6209 | U.S. Government Securities - due 7/1/2021 - Variable | ** | 60 | |||||||||||||||||||||||
| FNMA POOL #0AL6245 | U.S. Government Securities - due 1/1/2045 - Variable | ** | 275 | |||||||||||||||||||||||
| FNMA POOL #0AL7205 | U.S. Government Securities - due 12/1/2029 - 3.500% | ** | 349 | |||||||||||||||||||||||
| FNMA POOL #0AL7384 | U.S. Government Securities - due 9/1/2045 - 4.500% | ** | 262 | |||||||||||||||||||||||
| FNMA POOL #0AL8556 | U.S. Government Securities - due 8/1/2044 - 4.500% | ** | 1,663 | |||||||||||||||||||||||
| FNMA POOL #0AL8816 | U.S. Government Securities - due 9/1/2045 - 4.500% | ** | 454 | |||||||||||||||||||||||
| FNMA POOL #0AL8919 | U.S. Government Securities - due 7/1/2046 - Variable | ** | 217 | |||||||||||||||||||||||
| FNMA POOL #0AL9407 | U.S. Government Securities - due 9/1/2042 - 4.500% | ** | 155 | |||||||||||||||||||||||
| FNMA POOL #0AL9781 | U.S. Government Securities - due 2/1/2046 - 4.500% | ** | 580 | |||||||||||||||||||||||
| FNMA POOL #0AO4105 | U.S. Government Securities - due 6/1/2042 - Variable | ** | 203 | |||||||||||||||||||||||
| FNMA POOL #0AO8469 | U.S. Government Securities - due 5/1/2042 - Variable | ** | 77 | |||||||||||||||||||||||
| FNMA POOL #0AP7562 | U.S. Government Securities - due 9/1/2042 - Variable | ** | 580 | |||||||||||||||||||||||
| FNMA POOL #0AW4697 | U.S. Government Securities - due 5/1/2044 - Variable | ** | 127 | |||||||||||||||||||||||
| FNMA POOL #0AX3721 | U.S. Government Securities - due 7/1/2027 - 3.500% | ** | 300 | |||||||||||||||||||||||
| FNMA POOL #0BF0118 | U.S. Government Securities - due 6/1/2056 - 4.500% | ** | 669 | |||||||||||||||||||||||
19 of 20
| (a) | (b) Identity of issue, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value | ||||||||||||||||||||||
| FNMA POOL #0BH7071 | U.S. Government Securities - due 12/1/2047 - 4.500% | ** | 662 | |||||||||||||||||||||||
| FNMA POOL #0BK0922 | U.S. Government Securities - due 7/1/2048 - 4.500% | ** | 757 | |||||||||||||||||||||||
| FNMA POOL #0BK4770 | U.S. Government Securities - due 8/1/2048 - 4.500% | ** | 941 | |||||||||||||||||||||||
| FNMA POOL #0BM1357 | U.S. Government Securities - due 1/1/2043 - 4.500% | ** | 765 | |||||||||||||||||||||||
| FNMA POOL #0BM6149 | U.S .Governments Securities - due 10/01/2049 - Variable | ** | 983 | |||||||||||||||||||||||
| FNMA POOL #0BN5341 | U.S .Governments Securities - due 3/01/2049 - 4.500% | ** | 1,909 | |||||||||||||||||||||||
| FNMA POOL #0CA1709 | U.S .Governments Securities - due 5/01/2048 - 4.500% | ** | 1,415 | |||||||||||||||||||||||
| FNMA POOL #0CA2804 | U.S .Governments Securities - due 12/01/2048 - 4.500% | ** | 844 | |||||||||||||||||||||||
| FNMA POOL #0MA0232 | U.S. Government Securities - due 11/1/2029 - 4.500% | ** | 356 | |||||||||||||||||||||||
| FNMA POOL #0MA2366 | U.S. Government Securities - due 8/1/2035 - 4.000% | ** | 318 | |||||||||||||||||||||||
| FNMA POOL #0MA2455 | U.S. Government Securities - due 11/1/2035 - 4.000% | ** | 759 | |||||||||||||||||||||||
| FNMA POOL #0MA2480 | U.S. Government Securities - due 12/1/2035 - 4.000% | ** | 355 | |||||||||||||||||||||||
| FNMA POOL #0MA2880 | U.S. Government Securities - due 1/1/2037 - 4.000% | ** | 1,581 | |||||||||||||||||||||||
| FNMA POOL #0MA2923 | U.S. Government Securities - due 3/1/2037 - 3.500% | ** | 928 | |||||||||||||||||||||||
| FNMA POOL #0MA3334 | U.S. Government Securities - due 4/1/2048 - 4.500% | ** | 3,209 | |||||||||||||||||||||||
| FNMA POOL #0MA3616 | U.S .Governments Securities - due 3/01/2049 - 4.500% | ** | 3,302 | |||||||||||||||||||||||
| FNMA GTD REMIC P/T 01-79 BA | U.S. Government Securities - due 3/25/2045 - 7.000% | ** | 11 | |||||||||||||||||||||||
| FNMA GTD REMIC P/T 01-T10 A1 | U.S. Government Securities - due 12/25/2041 - 7.000% | ** | 183 | |||||||||||||||||||||||
| FNMA GTD REMIC P/T 04-W2 5A | U.S. Government Securities - due 3/25/2044 - 7.500% | ** | 194 | |||||||||||||||||||||||
| FNMA GTD REMIC P/T 07-50 DZ | U.S. Government Securities - due 6/25/2037 - 5.500% | ** | 398 | |||||||||||||||||||||||
| FNMA GTD REMIC P/T 07-W10 2A | U.S. Government Securities - due 8/25/2047 - Variable | ** | 139 | |||||||||||||||||||||||
| FNMA GTD REMIC P/T 12-46 BA | U.S. Government Securities - due 5/25/2042 - 6.000% | ** | 358 | |||||||||||||||||||||||
| FNMA GTD REMIC P/T 13-128 CF | U.S. Government Securities - due 12/25/2043 - Variable | ** | 848 | |||||||||||||||||||||||
| GNMA GTD REMIC P/T 15-H23 FA | U.S. Government Securities - due 9/20/2065 - Variable | ** | 750 | |||||||||||||||||||||||
| GNMA GTD REMIC P/T 16-H24 FD | U.S .Governments Securities - due 11/20/2066 - Variable | ** | 1,530 | |||||||||||||||||||||||
| GNMA GTD REMIC P/T 17-H24 FQ | U.S. Government Securities - due 11/20/2067 - Variable | ** | 2,181 | |||||||||||||||||||||||
| GNMA GTD REMIC P/T 19-H02 FG | U.S .Governments Securities - due 12/20/2068 - Variable | ** | 554 | |||||||||||||||||||||||
| GNMA GTD REMIC P/T 19-H17 FA | U.S .Governments Securities - due 11/20/2069 - Variable | ** | 929 | |||||||||||||||||||||||
| SBA GTD PARTN CTFS 2006-20E 1 | U.S. Government Securities - due 5/1/2026 - 5.870% | ** | 67 | |||||||||||||||||||||||
| SBA GTD PARTN CTFS 2007-20B 1 | U.S. Government Securities - due 2/1/2027 - 5.490% | ** | 79 | |||||||||||||||||||||||
| SBA GTD PARTN CTFS 2007-20D 1 | U.S. Government Securities - due 4/1/2027 - 5.320% | ** | 58 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 10/31/2024 - 1.500% | ** | 1,076 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 11/15/2022 - 1.625% | ** | 8,536 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 11/30/2021 - 1.500% | ** | 2,886 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 11/30/2024 - 1.500% | ** | 9,919 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 5/15/2029 - 2.375% | ** | 4,056 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 8/15/2029 - 1.625% | ** | 7,312 | |||||||||||||||||||||||
| U.S. Treasury Bond | U.S .Governments Securities - due 5/15/2049 - 2.875% | ** | 2,082 | |||||||||||||||||||||||
| U.S. Treasury Bond | U.S .Governments Securities - due 8/15/2049 - 2.250% | ** | 910 | |||||||||||||||||||||||
| U.S. Treasury-CPI Inflation | U.S .Governments Securities - due 1/15/2022 - 0.125% | ** | 377 | |||||||||||||||||||||||
| U.S. Treasury-CPI Inflation | U.S .Governments Securities - due 4/15/2022 - 0.125% | ** | 1,907 | |||||||||||||||||||||||
| U.S. Treasury-CPI Inflation | U.S .Governments Securities - due 4/15/2023 - 0.625% | ** | 384 | |||||||||||||||||||||||
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