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, 2020
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 | |||||||||||||
| 99.3 | Incorporated by reference from the Registrant’s Quarterly Report on Form 10-Q for the quarter ended May 1, 2021, Exhibit 10.2 | |||||||||||||
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: | June 11, 2021 | ||||
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 June 11, 2021, relating to the statements of net assets available for benefits of the Nordstrom 401(k) Plan as of December 31, 2020 and 2019, the related statement of changes in net assets available for benefits for the year ended December 31, 2020, and the related supplementary information as of December 31, 2020, appearing in this Annual Report on Form 11-K of the Nordstrom 401(k) Plan for the year ended December 31, 2020.
/s/ Moss Adams LLP
San Francisco, California
June 11, 2021
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, 2020 and 2019 | ||
| and for the Year Ended December 31, 2020, | ||
with Supplementary Information | ||
NORDSTROM 401(k) PLAN
PLAN YEAR ENDED December 31, 2020
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.
DEFINITIONS
| Term | Definition | ||||
| BNYM | Bank of New York Mellon | ||||
| Board | Nordstrom, Inc.’s Board of Directors | ||||
| CARES Act | Coronavirus Aid, Relief and Economic Security Act | ||||
| 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 | ||||
| PTE | Prohibited Transaction Exemption | ||||
| QACA | Qualified Automatic Contribution Arrangement | ||||
| VFCP | Voluntary Fiduciary Correction Program | ||||
2 of 21
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, 2020 and 2019, the related statement of changes in net assets available for benefits for the year ended December 31, 2020, 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, 2020 and 2019, and the changes in net assets available for benefits for the year ended December 31, 2020, 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) and the Schedule H, line 4(a) – schedule of delinquent participant contributions as of and for the year ended December 31, 2020, have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplementary information are 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, we evaluated whether the supplementary information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income and Security Act of 1974. In our opinion, the supplementary information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Moss Adams LLP
San Francisco, California
June 11, 2021
We have served as the Plan’s auditor since 2016.
3 of 21
NORDSTROM 401(k) PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(Amounts in thousands)
| December 31, | |||||||||||
| 2020 | 2019 | ||||||||||
| Assets | |||||||||||
| Participant-directed investments at fair value (see Note 3: Fair Value Measurements) | $3,769,501 | $3,513,264 | |||||||||
| Company contributions receivable | — | 84,512 | |||||||||
| Notes receivable from participants | 80,364 | 97,287 | |||||||||
| Accrued income and broker receivable | 16,635 | 26,661 | |||||||||
| Total assets | 3,866,500 | 3,721,724 | |||||||||
| Liabilities | |||||||||||
| Administrative expenses and other payables | 1,504 | 1,735 | |||||||||
| Excess contributions payable to participants | 1,098 | 2,988 | |||||||||
| Due to broker for securities purchased | 29,736 | 14,128 | |||||||||
| Total liabilities | 32,338 | 18,851 | |||||||||
| Net assets available for benefits | $3,834,162 | $3,702,873 | |||||||||
The accompanying Notes to Financial Statements are an integral part of these financial statements.
4 of 21
NORDSTROM 401(k) PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
(Amounts in thousands)
| Plan year ended | December 31, 2020 | ||||
| Additions | |||||
| Contributions | |||||
| Company contributions | $— | ||||
| Employee contributions | 145,949 | ||||
| Total contributions | 145,949 | ||||
| Investment income | |||||
| Net appreciation in fair value of investments | 471,520 | ||||
| Interest and dividends | 35,945 | ||||
| Total investment income | 507,465 | ||||
| Total additions | 653,414 | ||||
| Deductions | |||||
| Benefit payments to participants | 519,407 | ||||
| Administrative expenses and other, net | 2,718 | ||||
| Total deductions | 522,125 | ||||
| Net increase in net assets | 131,289 | ||||
| Net assets available for benefits at beginning of year | 3,702,873 | ||||
| Net assets available for benefits at end of year | $3,834,162 | ||||
The accompanying Notes to Financial Statements are an integral part of these financial statements.
5 of 21
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, 2020 and 2019, 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 2020 and 2019 relate to the Plan years ended December 31, 2020 and December 31, 2019.
Trustees and Administrator of the Plan
BNYM 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 (“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, 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 $19.5 in 2020 and $19.0 in 2019. For those age 50 and over, the IRS limited participant contributions to a maximum of $26.0 in 2020 and $25.0 in 2019.
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. Due to COVID-19 and the steps the Company took to strengthen the Company’s financial flexibility, we temporarily paused our employer match contribution and incurred no expenses related to Company contributions in 2020, which the Board approved in 2020 and ratified in 2021.
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, 2020 and 2019 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.
6 of 21
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, 2020 and 2019, forfeited unvested accounts were $1,286 and $1,363. 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 January 2021 and March 2020, the Plan used forfeitures of $1,227 and $1,361 to offset 2021 and 2019 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 15th day of the prior month, plus 1%. Interest rates for participant loans outstanding at December 31, 2020 range from 4.25% to 10.5% with various maturities through January 2041. Principal and interest is paid through payroll deductions, following the participant’s bi-weekly, 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.
7 of 21
NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
Subsequent Event
The Plan monitors significant events occurring after the balance sheet date and prior to the issuance of the financial statements to determine the impacts, if any, of events on the financial statements to be issued. The Plan has evaluated subsequent events through the date which the financial statements are issued.
In 2020, the Board of Directors approved an amendment to the Plan adopting certain QACA safe harbor provisions effective January 1, 2021. The Plan was restated in 2021 to incorporate these provisions, as well as amendments to adopt provisions of the CARES Act and other technical and administrative changes. The amendment was filed with the SEC with our Form 10-Q on June 4, 2021. Additionally, subsequent to 2020, employer matching contributions resumed under the new provisions of the amendment.
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The accompanying financial statements have been prepared in accordance with GAAP.
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 the 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, 2020 and 2019 were $907 and $261.
8 of 21
NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
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.
In 2020, the Trunk Club, Inc. 401(k) Plan merged all assets totaling $7,803 into the Nordstrom 401(k) Plan. The amounts related to the merger were classified as administrative expenses and other, net on the Statement of Changes in Net Assets Available for Benefits.
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, 2020 and 2019. There have been no changes in the methodologies used at December 31, 2020 and 2019.
| December 31, 2020 | |||||||||||||||||
| Level 1 | Level 2 | Total | |||||||||||||||
| Fair value hierarchy: | |||||||||||||||||
| Common stock | $1,060,718 | $— | $1,060,718 | ||||||||||||||
| Debt securities | 18,841 | 179,762 | 198,603 | ||||||||||||||
| Mutual funds | 831,404 | — | 831,404 | ||||||||||||||
| Brokerage securities | 37,325 | 4,911 | 42,236 | ||||||||||||||
Other1 | (5,328) | — | (5,328) | ||||||||||||||
| Total assets in fair value hierarchy | $1,942,960 | $184,673 | $2,127,633 | ||||||||||||||
| Investments measured at NAV practical expedient | 1,641,868 | ||||||||||||||||
| Total participant-directed investments at fair value | $3,769,501 | ||||||||||||||||
1 Other primarily includes pending receivable transactions for dividends and interest.
| 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.
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, 2020 and 2019. During 2020, there were no transfers in or out of Levels 1, 2 or 3.
9 of 21
NORDSTROM 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
(Dollar and share amounts in thousands)
NOTE 4: PARTY-IN-INTEREST TRANSACTIONS
As of December 31, 2020 and 2019, Plan investments included units held in a collective trust managed by BNYM, BNYM common stock and interest-bearing cash managed by BNYM. Transactions with this entity qualify as exempt party-in-interest transactions. Fees paid by the Plan to BNYM were $709 for 2020 and fees payable to BNYM were $125 as of December 31, 2020. Fees paid by the Plan to Alight Solutions for recordkeeping fees were $1,818 for 2020 and fees payable to Alight Solutions for recordkeeping fees were $160 as of December 31, 2020.
As the Plan sponsor, the Company is a party-in-interest with respect to the Plan. As of December 31, 2020 and 2019, the Plan held 3,637 and 3,596 shares of Nordstrom common stock, with a cost basis of $137,781 and $159,830. The Plan recorded dividend income from Nordstrom common stock of $1,300 during 2020.
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, 2020 and 2019, 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 2020 and 2019, 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 2020, paid in March 2021, totaled $1,098 and included approximately $163 of investment earnings. The net refund for 2019, paid in March 2020, totaled $2,988 and included approximately $492 of investment loss.
NOTE 8: RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
As of December 31, 2020, the Plan had pending investment purchases and sales of $24,860 and $12,516 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.
10 of 21
NORDSTROM 401(k) PLAN
SCHEDULE H, LINE 4(a) — SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
AS OF December 31, 2020
EIN: 91-0515058
Plan #: 001
(Dollars in ones)
| Total That Constitute Nonexempt Prohibited Transactions | Total Fully Corrected Under VFCP and PTE 2002-51 | |||||||||||||
| Participant Contributions Transferred Late to the Plan | Contributions Not Corrected | Contributions Corrected Outside of VFCP* | Contributions Pending Correction in VFCP | |||||||||||
| Check here if late participant loan contributions are included: | ||||||||||||||
| 2020 | — | $9,520 | — | — | ||||||||||
* The late contributions were deposited in June and July 2020. The Plan Administrator filed a Form 5330 and intends to use the DOL’s VFCP program.
11 of 21
NORDSTROM 401(k) PLAN
SCHEDULE H, LINE 4(i) — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF December 31, 2020
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 | ||||||||||||||||||||||
| Capital Group EuroPacific Fund | CCT | ** | 567,906 | |||||||||||||||||||||||
| * | EB Temporary Investment Fund | CCT - due 12/31/2049 - 1.147% | ** | 34,583 | ||||||||||||||||||||||
| Loomis Core Plus Fixed Income Fund | CCT | ** | 426,538 | |||||||||||||||||||||||
| Putnam Stable Value Fund | CCT | ** | 310,824 | |||||||||||||||||||||||
| Schroder International Multi-Cap Equity Trust - Class 2 | CCT | ** | 236,354 | |||||||||||||||||||||||
| SSGA Tips Index | CCT | ** | 65,662 | |||||||||||||||||||||||
| 10X Genomics, Inc. | Common stock | ** | 3,416 | |||||||||||||||||||||||
| Abiomed, Inc. | Common stock | ** | 2,620 | |||||||||||||||||||||||
| Acadia Healthcare Co., Inc. | Common stock | ** | 2,224 | |||||||||||||||||||||||
| Advance Auto Parts, Inc. | Common stock | ** | 3,323 | |||||||||||||||||||||||
| Advanced Micro Devices, Inc. | Common stock | ** | 6,060 | |||||||||||||||||||||||
| Aegon N.V. | Common stock | ** | 1,494 | |||||||||||||||||||||||
| Agilent Technologies, Inc. | Common stock | ** | 4,480 | |||||||||||||||||||||||
| Alarm.Com Holdings, Inc. | Common stock | ** | 4,882 | |||||||||||||||||||||||
| Align Technology, Inc. | Common stock | ** | 2,764 | |||||||||||||||||||||||
| Alnylam Pharmaceuticals, Inc. | Common stock | ** | 1,651 | |||||||||||||||||||||||
| Alphabet, Inc. Class A | Common stock | ** | 2,043 | |||||||||||||||||||||||
| Alphabet, Inc. Class C | Common stock | ** | 12,000 | |||||||||||||||||||||||
| Altice USA, Inc. | Common stock | ** | 2,215 | |||||||||||||||||||||||
| Amazon.Com, Inc. | Common stock | ** | 28,658 | |||||||||||||||||||||||
| Amedisys, Inc. | Common stock | ** | 4,401 | |||||||||||||||||||||||
| American Express Co. | Common stock | ** | 5,683 | |||||||||||||||||||||||
| AMETEK, Inc. | Common stock | ** | 2,800 | |||||||||||||||||||||||
| Apache Corp. | Common stock | ** | 2,285 | |||||||||||||||||||||||
| Apple, Inc. | Common stock | ** | 37,480 | |||||||||||||||||||||||
| Ares Management Corp. | Common stock | ** | 3,015 | |||||||||||||||||||||||
| Aspen Technology, Inc. | Common stock | ** | 3,779 | |||||||||||||||||||||||
| AstraZeneca PLC | Common stock | ** | 315 | |||||||||||||||||||||||
| Autodesk, Inc. | Common stock | ** | 4,944 | |||||||||||||||||||||||
| Avalara, Inc. | Common stock | ** | 4,245 | |||||||||||||||||||||||
| Avery Dennison Corp. | Common stock | ** | 1,785 | |||||||||||||||||||||||
| Axon Enterprise, Inc. | Common stock | ** | 4,203 | |||||||||||||||||||||||
| Baker Hughes Co. | Common stock | ** | 5,540 | |||||||||||||||||||||||
| Bank Of America Corp. | Common stock | ** | 10,381 | |||||||||||||||||||||||
| Biomarin Pharmaceutical, Inc. | Common stock | ** | 2,613 | |||||||||||||||||||||||
| Bio-Techne Corp. | Common stock | ** | 4,413 | |||||||||||||||||||||||
| BJ'S Wholesale Club Holdings I | Common stock | ** | 4,138 | |||||||||||||||||||||||
| Blueprint Medicines Corp. | Common stock | ** | 1,970 | |||||||||||||||||||||||
| Booking Holdings, Inc. | Common stock | ** | 6,014 | |||||||||||||||||||||||
| Booz Allen Hamilton Holding Co. | Common stock | ** | 2,056 | |||||||||||||||||||||||
| Bright Horizons Family Solutions, Inc. | Common stock | ** | 3,862 | |||||||||||||||||||||||
| Brighthouse Financial, Inc. | Common stock | ** | 1,195 | |||||||||||||||||||||||
| Bristol-Myers Squibb Co. | Common stock | ** | 5,297 | |||||||||||||||||||||||
| Brooks Automation, Inc. | Common stock | ** | 4,231 | |||||||||||||||||||||||
| *Party-in-interest | ||||||||||||||||||||||||||
| **Cost information is not required for participant-directed investments and therefore is not included. | ||||||||||||||||||||||||||
12 of 21
| (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 | ||||||||||||||||||||||
| Builders FirstSource, Inc. | Common stock | ** | 3,660 | |||||||||||||||||||||||
| Burlington Stores, Inc. | Common stock | ** | 2,504 | |||||||||||||||||||||||
| BWX Technologies, Inc. | Common stock | ** | 6,961 | |||||||||||||||||||||||
| Cable One, Inc. | Common stock | ** | 4,433 | |||||||||||||||||||||||
| Cadence Design Systems, Inc. | Common stock | ** | 3,345 | |||||||||||||||||||||||
| Cameco Corp. | Common stock | ** | 3,051 | |||||||||||||||||||||||
| Capital One Financial Corp. | Common stock | ** | 15,559 | |||||||||||||||||||||||
| Carrier Global Corp. | Common stock | ** | 3,519 | |||||||||||||||||||||||
| Celanese Corp. | Common stock | ** | 3,703 | |||||||||||||||||||||||
| Charter Communications, Inc. | Common stock | ** | 9,328 | |||||||||||||||||||||||
| Church & Dwight Co., Inc. | Common stock | ** | 1,636 | |||||||||||||||||||||||
| Cigna Corp. | Common stock | ** | 10,694 | |||||||||||||||||||||||
| Cisco Systems, Inc. | Common stock | ** | 5,862 | |||||||||||||||||||||||
| Cognizant Technology Solutions | Common stock | ** | 5,818 | |||||||||||||||||||||||
| Comcast Corp. | Common stock | ** | 12,356 | |||||||||||||||||||||||
| Concho Resources, Inc. | Common stock | ** | 3,513 | |||||||||||||||||||||||
| Constellation Brands, Inc. | Common stock | ** | 4,705 | |||||||||||||||||||||||
| Costar Group, Inc. | Common stock | ** | 2,247 | |||||||||||||||||||||||
| Cree, Inc. | Common stock | ** | 3,230 | |||||||||||||||||||||||
| Crown Holdings, Inc. | Common stock | ** | 8,876 | |||||||||||||||||||||||
| CSX Corp. | Common stock | ** | 4,929 | |||||||||||||||||||||||
| CVS Health Corp. | Common stock | ** | 3,231 | |||||||||||||||||||||||
| Danaher Corp. | Common stock | ** | 5,798 | |||||||||||||||||||||||
| Darden Restaurants, Inc. | Common stock | ** | 3,044 | |||||||||||||||||||||||
| Dell Technologies, Inc. | Common stock | ** | 8,494 | |||||||||||||||||||||||
| Dexcom, Inc. | Common stock | ** | 3,754 | |||||||||||||||||||||||
| Dish Network Corp. | Common stock | ** | 2,959 | |||||||||||||||||||||||
| Eli Lilly & Company | Common stock | ** | 9,240 | |||||||||||||||||||||||
| Encompass Health Corp. | Common stock | ** | 6,253 | |||||||||||||||||||||||
| Entegris, Inc. | Common stock | ** | 4,163 | |||||||||||||||||||||||
| Etsy, Inc. | Common stock | ** | 6,981 | |||||||||||||||||||||||
| Euronet Worldwide, Inc. | Common stock | ** | 4,490 | |||||||||||||||||||||||
| Exact Sciences Corp. | Common stock | ** | 2,927 | |||||||||||||||||||||||
| Expedia Group, Inc. | Common stock | ** | 3,129 | |||||||||||||||||||||||
| Facebook, Inc. | Common stock | ** | 20,047 | |||||||||||||||||||||||
| Fedex Corp. | Common stock | ** | 10,696 | |||||||||||||||||||||||
| FirstCash, Inc. | Common stock | ** | 2,343 | |||||||||||||||||||||||
| FirstService Corp. | Common stock | ** | 3,076 | |||||||||||||||||||||||
| Fiserv, Inc. | Common stock | ** | 2,494 | |||||||||||||||||||||||
| Five Below, Inc. | Common stock | ** | 3,739 | |||||||||||||||||||||||
| Five9, Inc. | Common stock | ** | 2,692 | |||||||||||||||||||||||
| Fox Corp. | Common stock | ** | 4,808 | |||||||||||||||||||||||
| Generac Holdings, Inc. | Common stock | ** | 3,542 | |||||||||||||||||||||||
| Gilead Sciences, Inc. | Common stock | ** | 3,402 | |||||||||||||||||||||||
| GlaxoSmithKline PLC | Common stock | ** | 8,004 | |||||||||||||||||||||||
| Global Payments, Inc. | Common stock | ** | 3,585 | |||||||||||||||||||||||
| GoDaddy, Inc. | Common stock | ** | 3,637 | |||||||||||||||||||||||
| Grand Canyon Education, Inc. | Common stock | ** | 6,387 | |||||||||||||||||||||||
| Guidewire Software, Inc. | Common stock | ** | 2,331 | |||||||||||||||||||||||
| Halliburton Co. | Common stock | ** | 2,056 | |||||||||||||||||||||||
| Halozyme Therapeutics, Inc. | Common stock | ** | 4,692 | |||||||||||||||||||||||
| Healthequity, Inc. | Common stock | ** | 4,425 | |||||||||||||||||||||||
| HEICO Corp. | Common stock | ** | 2,217 | |||||||||||||||||||||||
13 of 21
| (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 | ||||||||||||||||||||||
| Helen of Troy Ltd. | Common stock | ** | 4,037 | |||||||||||||||||||||||
| Hess Corp. | Common stock | ** | 3,088 | |||||||||||||||||||||||
| Hewlett Packard Enterprise Co. | Common stock | ** | 5,872 | |||||||||||||||||||||||
| Horizon Therapeutics PLC | Common stock | ** | 8,904 | |||||||||||||||||||||||
| HP, Inc. | Common stock | ** | 11,582 | |||||||||||||||||||||||
| Humana, Inc. | Common stock | ** | 4,283 | |||||||||||||||||||||||
| Incyte Corp. | Common stock | ** | 1,000 | |||||||||||||||||||||||
| Insmed, Inc. | Common stock | ** | 1,921 | |||||||||||||||||||||||
| Inspire Medical Systems, Inc. | Common stock | ** | 1,985 | |||||||||||||||||||||||
| Insulet Corp. | Common stock | ** | 4,188 | |||||||||||||||||||||||
| Intuit, Inc. | Common stock | ** | 9,133 | |||||||||||||||||||||||
| J2 Global, Inc. | Common stock | ** | 2,964 | |||||||||||||||||||||||
| Johnson Controls International PLC | Common stock | ** | 9,747 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Common stock | ** | 4,930 | |||||||||||||||||||||||
| Juniper Networks, Inc. | Common stock | ** | 3,606 | |||||||||||||||||||||||
| Lam Research Corp. | Common stock | ** | 3,964 | |||||||||||||||||||||||
| Ligand Pharmaceuticals, Inc. | Common stock | ** | 3,100 | |||||||||||||||||||||||
| Lincoln Electric Holdings, Inc. | Common stock | ** | 2,148 | |||||||||||||||||||||||
| Lincoln National Corp. | Common stock | ** | 858 | |||||||||||||||||||||||
| Live Nation Entertainment, Inc. | Common stock | ** | 3,050 | |||||||||||||||||||||||
| Liveramp Holdings, Inc. | Common stock | ** | 3,623 | |||||||||||||||||||||||
| LyondellBasell Industries NV | Common stock | ** | 1,742 | |||||||||||||||||||||||
| Martin Marietta Materials, Inc. | Common stock | ** | 6,358 | |||||||||||||||||||||||
| Masimo Corp. | Common stock | ** | 2,357 | |||||||||||||||||||||||
| Maximus, Inc. | Common stock | ** | 1,556 | |||||||||||||||||||||||
| Medtronic PLC | Common stock | ** | 2,284 | |||||||||||||||||||||||
| Mercury Systems, Inc. | Common stock | ** | 5,281 | |||||||||||||||||||||||
| Merit Medical Systems, Inc. | Common stock | ** | 2,666 | |||||||||||||||||||||||
| MetLife, Inc. | Common stock | ** | 10,090 | |||||||||||||||||||||||
| Micro Focus International PLC | Common stock | ** | 669 | |||||||||||||||||||||||
| Microchip Technology, Inc. | Common stock | ** | 8,024 | |||||||||||||||||||||||
| Microsoft Corp. | Common stock | ** | 19,471 | |||||||||||||||||||||||
| Molson Coors Beverage Co. | Common stock | ** | 3,895 | |||||||||||||||||||||||
| Mongodb, Inc. | Common stock | ** | 3,519 | |||||||||||||||||||||||
| Monolithic Power Systems, Inc. | Common stock | ** | 3,259 | |||||||||||||||||||||||
| National Instruments Corp. | Common stock | ** | 2,974 | |||||||||||||||||||||||
| National Oilwell Varco, Inc. | Common stock | ** | 894 | |||||||||||||||||||||||
| National Vision Holdings, Inc. | Common stock | ** | 2,806 | |||||||||||||||||||||||
| New Fortress Energy, Inc. | Common stock | ** | 2,364 | |||||||||||||||||||||||
| News Corp. | Common stock | ** | 767 | |||||||||||||||||||||||
| Nice Ltd. | Common stock | ** | 6,267 | |||||||||||||||||||||||
| * | Nordstrom, Inc. | Common stock | ** | 113,519 | ||||||||||||||||||||||
| Novanta, Inc. | Common stock | ** | 2,103 | |||||||||||||||||||||||
| Novartis AG | Common stock | ** | 6,893 | |||||||||||||||||||||||
| Occidental Petroleum Corp. | Common stock | ** | 6,469 | |||||||||||||||||||||||
| O'Reilly Automotive, Inc. | Common stock | ** | 5,320 | |||||||||||||||||||||||
| Otis Worldwide Corp. | Common stock | ** | 1,496 | |||||||||||||||||||||||
| Paycom Software, Inc. | Common stock | ** | 4,151 | |||||||||||||||||||||||
| Paypal Holdings, Inc. | Common stock | ** | 7,486 | |||||||||||||||||||||||
| Penumbra, Inc. | Common stock | ** | 4,073 | |||||||||||||||||||||||
| Philip Morris International Inc. | Common stock | ** | 7,052 | |||||||||||||||||||||||
| Proofpoint, Inc. | Common stock | ** | 2,556 | |||||||||||||||||||||||
| Pure Storage, Inc. | Common stock | ** | 5,386 | |||||||||||||||||||||||
14 of 21
| (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 | ||||||||||||||||||||||
| Qualcomm, Inc. | Common stock | ** | 5,870 | |||||||||||||||||||||||
| Qurate Retail, Inc. | Common stock | ** | 2,156 | |||||||||||||||||||||||
| Raytheon Technologies Corp. | Common stock | ** | 8,703 | |||||||||||||||||||||||
| Ringcentral, Inc. | Common stock | ** | 5,592 | |||||||||||||||||||||||
| Ritchie Bros Auctioneers, Inc. | Common stock | ** | 4,934 | |||||||||||||||||||||||
| Roche Holding AG | Common stock | ** | 3,170 | |||||||||||||||||||||||
| Roper Technologies, Inc. | Common stock | ** | 3,721 | |||||||||||||||||||||||
| Ross Stores, Inc. | Common stock | ** | 5,622 | |||||||||||||||||||||||
| S&P Global, Inc. | Common stock | ** | 3,779 | |||||||||||||||||||||||
| Sanofi | Common stock | ** | 6,394 | |||||||||||||||||||||||
| SBA Communications Corp. | Common stock | ** | 3,847 | |||||||||||||||||||||||
| Schlumberger Ltd. | Common stock | ** | 3,796 | |||||||||||||||||||||||
| ServiceNow, Inc. | Common stock | ** | 6,330 | |||||||||||||||||||||||
| Snap, Inc. | Common stock | ** | 3,866 | |||||||||||||||||||||||
| Solaredge Technologies, Inc. | Common stock | ** | 4,767 | |||||||||||||||||||||||
| Spotify Technology SA | Common stock | ** | 3,411 | |||||||||||||||||||||||
| Star Peak Energy Transition Co. | Common stock | ** | 1,591 | |||||||||||||||||||||||
| State Street Corp. | Common stock | ** | 5,095 | |||||||||||||||||||||||
| Steris PLC | Common stock | ** | 3,853 | |||||||||||||||||||||||
| Take-Two Interactive Software, Inc. | Common stock | ** | 5,756 | |||||||||||||||||||||||
| Tandem Diabetes Care, Inc. | Common stock | ** | 1,436 | |||||||||||||||||||||||
| TE Connectivity Ltd. | Common stock | ** | 6,840 | |||||||||||||||||||||||
| Teledyne Technologies, Inc. | Common stock | ** | 3,219 | |||||||||||||||||||||||
| Teleflex, Inc. | Common stock | ** | 3,584 | |||||||||||||||||||||||
| Terminix Global Holdings, Inc. | Common stock | ** | 2,650 | |||||||||||||||||||||||
| * | The Bank of New York Mellon Corp. | Common stock | ** | 8,339 | ||||||||||||||||||||||
| The Brink's Co. | Common stock | ** | 5,822 | |||||||||||||||||||||||
| The Charles Schwab Corp. | Common stock | ** | 14,703 | |||||||||||||||||||||||
| The Gap, Inc. | Common stock | ** | 1,831 | |||||||||||||||||||||||
| The Goldman Sachs Group, Inc. | Common stock | ** | 7,911 | |||||||||||||||||||||||
| The Progressive Corp. | Common stock | ** | 2,291 | |||||||||||||||||||||||
| The Williams Cos., Inc. | Common stock | ** | 3,198 | |||||||||||||||||||||||
| T-Mobile US, Inc. | Common stock | ** | 1,038 | |||||||||||||||||||||||
| Trex Co, Inc. | Common stock | ** | 4,922 | |||||||||||||||||||||||
| Truist Financial Corp. | Common stock | ** | 3,834 | |||||||||||||||||||||||
| Twilio, Inc. | Common stock | ** | 4,997 | |||||||||||||||||||||||
| Twist Bioscience Corp. | Common stock | ** | 1,632 | |||||||||||||||||||||||
| Ulta Beauty, Inc. | Common stock | ** | 1,927 | |||||||||||||||||||||||
| UnitedHealth Group, Inc. | Common stock | ** | 5,436 | |||||||||||||||||||||||
| Varonis Systems, Inc. | Common stock | ** | 3,515 | |||||||||||||||||||||||
| Veeva Systems, Inc. | Common stock | ** | 1,392 | |||||||||||||||||||||||
| Veracyte, Inc. | Common stock | ** | 4,404 | |||||||||||||||||||||||
| VIRTU Financial, Inc. | Common stock | ** | 2,799 | |||||||||||||||||||||||
| Visa, Inc. | Common stock | ** | 14,068 | |||||||||||||||||||||||
| VMware, Inc. | Common stock | ** | 2,581 | |||||||||||||||||||||||
| Waste Connections, Inc. | Common stock | ** | 285 | |||||||||||||||||||||||
| Wells Fargo & Co. | Common stock | ** | 13,964 | |||||||||||||||||||||||
| Western Alliance Bancorp. | Common stock | ** | 2,156 | |||||||||||||||||||||||
| Zebra Technologies Corp. | Common stock | ** | 1,624 | |||||||||||||||||||||||
| Zendesk, Inc. | Common stock | ** | 2,870 | |||||||||||||||||||||||
| Zynga, Inc. | Common stock | ** | 3,654 | |||||||||||||||||||||||
| Abbvie, Inc. | Corporate Debt - due 11/21/2049 - 4.250% | ** | 188 | |||||||||||||||||||||||
| Abbvie, Inc. | Corporate Debt - due 11/21/2039 - 4.050% | ** | 750 | |||||||||||||||||||||||
15 of 21
| (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 | ||||||||||||||||||||||
| Anheuser-Busch Cos. LLC | Corporate Debt - due 02/01/2046 - 4.900% | ** | 228 | |||||||||||||||||||||||
| Anheuser-Busch InBev Worldwide | Corporate Debt - due 06/01/2060 - 4.600% | ** | 257 | |||||||||||||||||||||||
| Anheuser-Busch InBev Worldwide | Corporate Debt - due 06/01/2030 - 3.500% | ** | 434 | |||||||||||||||||||||||
| AT&T, Inc. | Corporate Debt - due 03/09/2048 - 4.500% | ** | 333 | |||||||||||||||||||||||
| AT&T, Inc. | Corporate Debt - due 11/15/2031 - Variable | ** | 145 | |||||||||||||||||||||||
| AT&T, Inc. 144A | Corporate Debt - due 09/15/2055 - 3.550% | ** | 205 | |||||||||||||||||||||||
| AT&T, Inc. 144A | Corporate Debt - due 09/15/2059 - 3.650% | ** | 1,149 | |||||||||||||||||||||||
| AT&T, Inc. 144A | Corporate Debt - due 09/15/2053 - 3.500% | ** | 516 | |||||||||||||||||||||||
| Bank Of America Corp. | Corporate Debt - due 03/20/2051 - Variable | ** | 505 | |||||||||||||||||||||||
| Bank Of America Corp. | Corporate Debt - due 11/25/2027 - 4.183% | ** | 261 | |||||||||||||||||||||||
| Bank Of America Corp. | Corporate Debt - due 12/20/2023 - Variable | ** | 1,495 | |||||||||||||||||||||||
| Bank Of America Corp. | Corporate Debt - due 03/03/2026 - 4.450% | ** | 175 | |||||||||||||||||||||||
| Bank Of America Corp. | Corporate Debt - due 08/26/2024 - 4.200% | ** | 504 | |||||||||||||||||||||||
| Barclays PLC | Corporate Debt - due 09/11/2024 - 4.375% | ** | 334 | |||||||||||||||||||||||
| Barclays PLC | Corporate Debt - due 05/09/2028 - 4.836% | ** | 663 | |||||||||||||||||||||||
| B.A.T. Capital Corp. | Corporate Debt - due 09/25/2040 - 3.734% | ** | 52 | |||||||||||||||||||||||
| B.A.T. Capital Corp. | Corporate Debt - due 09/25/2050 - 3.984% | ** | 78 | |||||||||||||||||||||||
| B.A.T. Capital Corp. | Corporate Debt - due 03/25/2028 - 2.259% | ** | 156 | |||||||||||||||||||||||
| B.A.T. Capital Corp. | Corporate Debt - due 03/25/2031 - 2.726% | ** | 388 | |||||||||||||||||||||||
| Bayer US Finance II LLC 144A | Corporate Debt - due 12/15/2028 - 4.375% | ** | 1,029 | |||||||||||||||||||||||
| BNP Paribas S.A. | Corporate Debt - due 10/15/2024 - 4.250% | ** | 929 | |||||||||||||||||||||||
| BNP Paribas S.A. 144A | Corporate Debt - due 03/13/2027 - 4.625% | ** | 611 | |||||||||||||||||||||||
| BNP Paribas S.A. 144A | Corporate Debt - due 09/28/2025 - 4.375% | ** | 829 | |||||||||||||||||||||||
| BNSF Railway Co. | Corporate Debt - due 04/01/2024 - 5.996% | ** | 107 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 02/01/2023 - 3.850% | ** | 426 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 02/01/2026 - 3.650% | ** | 256 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 05/15/2021 - 4.125% | ** | 126 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 01/15/2025 - 3.200% | ** | 191 | |||||||||||||||||||||||
| Boston Properties LP | Corporate Debt - due 03/15/2030 - 2.900% | ** | 323 | |||||||||||||||||||||||
| Burlington Northern And Santa | Corporate Debt - due 01/15/2021 - 8.251% | ** | 25 | |||||||||||||||||||||||
| Burlington Northern And Santa | Corporate Debt - due 09/01/2023 - 3.850% | ** | 217 | |||||||||||||||||||||||
| Capital One Financial Corp. | Corporate Debt - due 02/05/2025 - 3.200% | ** | 464 | |||||||||||||||||||||||
| Capital One Financial Corp. | Corporate Debt - due 10/29/2025 - 4.200% | ** | 542 | |||||||||||||||||||||||
| Cemex SAB de CV 144A | Corporate Debt - due 09/17/2030 - 5.200% | ** | 685 | |||||||||||||||||||||||
| Cemex SAB de CV 144A | Corporate Debt - due 04/16/2026 - 7.750% | ** | 395 | |||||||||||||||||||||||
| Cemex SAB de CV 144A | Corporate Debt - due 01/11/2025 - 5.700% | ** | 613 | |||||||||||||||||||||||
| Charter Communications Operating LLC | Corporate Debt - due 04/01/2048 - 5.750% | ** | 818 | |||||||||||||||||||||||
| Charter Communications Operating LLC | Corporate Debt - due 10/23/2045 - 6.484% | ** | 2,122 | |||||||||||||||||||||||
| Charter Communications Operating LLC | Corporate Debt - due 05/01/2047 - 5.375% | ** | 406 | |||||||||||||||||||||||
| Cigna Corp. | Corporate Debt - due 05/15/2027 - 7.875% | ** | 258 | |||||||||||||||||||||||
| Cigna Corp. | Corporate Debt - due 07/15/2023 - 3.750% | ** | 197 | |||||||||||||||||||||||
| Citigroup, Inc. | Corporate Debt - due 05/15/2023 - 3.500% | ** | 107 | |||||||||||||||||||||||
| Citigroup, Inc. | Corporate Debt - due 08/05/2024 - 4.000% | ** | 807 | |||||||||||||||||||||||
| Cox Communications, Inc. 144A | Corporate Debt - due 02/01/2025 - 3.850% | ** | 457 | |||||||||||||||||||||||
| Cox Communications, Inc. 144A | Corporate Debt - due 08/15/2027 - 3.500% | ** | 339 | |||||||||||||||||||||||
| CSX Transportation, Inc. | Corporate Debt - due 01/15/2023 - 6.251% | ** | 151 | |||||||||||||||||||||||
| CVS Health Corp. | Corporate Debt - due 03/25/2038 - 4.780% | ** | 570 | |||||||||||||||||||||||
| CVS Health Corp. | Corporate Debt - due 04/01/2040 - 4.125% | ** | 210 | |||||||||||||||||||||||
| Dell International LLC / 144A | Corporate Debt - due 07/15/2027 - 6.100% | ** | 404 | |||||||||||||||||||||||
| Dillard's, Inc. | Corporate Debt - due 05/15/2027 - 7.750% | ** | 466 | |||||||||||||||||||||||
| Dominion Energy, Inc. | Corporate Debt - due 04/01/2021 - Step rate | ** | 177 | |||||||||||||||||||||||
| Dominion Energy, Inc. | Corporate Debt - due 10/01/2054 - Variable | ** | 780 | |||||||||||||||||||||||
| Dow Chemical Co/The | Corporate Debt - due 11/01/2029 - 7.375% | ** | 250 | |||||||||||||||||||||||
16 of 21
| (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 | ||||||||||||||||||||||
| Dow Chemical Co/The | Corporate Debt - due 05/15/2039 - 9.400% | ** | 628 | |||||||||||||||||||||||
| Dow Chemical Co/The | Corporate Debt - due 11/30/2048 - 5.550% | ** | 647 | |||||||||||||||||||||||
| Elanco Animal Health, Inc. | Corporate Debt - due 08/28/2023 - Variable | ** | 109 | |||||||||||||||||||||||
| Elanco Animal Health, Inc. | Corporate Debt - due 08/27/2021 - Variable | ** | 102 | |||||||||||||||||||||||
| Elanco Animal Health, Inc. | Corporate Debt - due 08/28/2028 - Variable | ** | 443 | |||||||||||||||||||||||
| Enel Finance International 144A | Corporate Debt - due 10/07/2039 - 6.000% | ** | 713 | |||||||||||||||||||||||
| Enel Finance International 144A | Corporate Debt - due 09/15/2037 - 6.800% | ** | 846 | |||||||||||||||||||||||
| ERP Operating LP | Corporate Debt - due 04/15/2023 - 3.000% | ** | 790 | |||||||||||||||||||||||
| Exxon Mobil Corp. | Corporate Debt - due 03/19/2040 - 4.227% | ** | 467 | |||||||||||||||||||||||
| Exxon Mobil Corp. | Corporate Debt - due 10/15/2030 - 2.610% | ** | 300 | |||||||||||||||||||||||
| Exxon Mobil Corp. | Corporate Debt - due 03/19/2050 - 4.327% | ** | 786 | |||||||||||||||||||||||
| Exxon Mobil Corp. | Corporate Debt - due 04/15/2051 - 3.452% | ** | 314 | |||||||||||||||||||||||
| Federal Express Corp. 1998 Pass | Corporate Debt - due 07/15/2023 - 6.720% | ** | 21 | |||||||||||||||||||||||
| Fedex Corp. | Corporate Debt - due 05/15/2050 - 5.250% | ** | 567 | |||||||||||||||||||||||
| Fedex Corp. | Corporate Debt - due 05/15/2030 - 4.250% | ** | 213 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 08/02/2021 - 5.875% | ** | 716 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 08/06/2023 - 4.375% | ** | 467 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 11/13/2025 - 3.375% | ** | 205 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 02/01/2021 - 5.750% | ** | 201 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 10/12/2021 - 3.813% | ** | 581 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 01/07/2022 - 5.596% | ** | 336 | |||||||||||||||||||||||
| Ford Motor Credit Co. LLC | Corporate Debt - due 11/01/2024 - 4.063% | ** | 525 | |||||||||||||||||||||||
| HCA, Inc. | Corporate Debt - due 06/15/2029 - 4.125% | ** | 261 | |||||||||||||||||||||||
| HCA, Inc. | Corporate Debt - due 06/15/2039 - 5.125% | ** | 320 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 03/31/2030 - 4.950% | ** | 846 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 08/18/2031 - Variable | ** | 516 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 03/08/2026 - 4.300% | ** | 230 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 05/02/2036 - 6.500% | ** | 1,267 | |||||||||||||||||||||||
| HSBC Holdings PLC | Corporate Debt - due 09/15/2037 - 6.500% | ** | 915 | |||||||||||||||||||||||
| Imperial Brands Finance PLC 144A | Corporate Debt - due 07/26/2029 - 3.875% | ** | 866 | |||||||||||||||||||||||
| Imperial Brands Finance PLC 144A | Corporate Debt - due 07/21/2025 - 4.250% | ** | 1,661 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corporate Debt - due 12/15/2026 - 4.125% | ** | 526 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corporate Debt - due 10/01/2027 - 4.250% | ** | 208 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corporate Debt - due 07/23/2024 - Variable | ** | 895 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corporate Debt - due 04/22/2031 - Variable | ** | 349 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Corporate Debt - due 05/13/2031 - Variable | ** | 439 | |||||||||||||||||||||||
| Kinder Morgan Energy Partners | Corporate Debt - due 09/01/2039 - 6.500% | ** | 326 | |||||||||||||||||||||||
| Kinder Morgan Energy Partners | Corporate Debt - due 08/15/2042 - 5.000% | ** | 909 | |||||||||||||||||||||||
| Kinder Morgan Energy Partners | Corporate Debt - due 09/01/2044 - 5.400% | ** | 846 | |||||||||||||||||||||||
| Kraft Heinz Foods Co. 144A | Corporate Debt - due 06/01/2050 - 5.500% | ** | 315 | |||||||||||||||||||||||
| Lloyds Banking Group PLC | Corporate Debt - due 11/04/2024 - 4.500% | ** | 643 | |||||||||||||||||||||||
| Lloyds Banking Group PLC | Corporate Debt - due 03/24/2026 - 4.650% | ** | 604 | |||||||||||||||||||||||
| LYB International Finance III | Corporate Debt - due 10/01/2030 - 2.250% | ** | 51 | |||||||||||||||||||||||
| LYB International Finance III | Corporate Debt - due 04/01/2051 - 3.625% | ** | 219 | |||||||||||||||||||||||
| Macy'S Retail Holdings LLC 144A | Corporate Debt - due 09/15/2028 - 6.700% | ** | 229 | |||||||||||||||||||||||
| Macy'S Retail Holdings LLC | Corporate Debt - due 03/15/2037 - 6.375% | ** | 130 | |||||||||||||||||||||||
| NatWest Group PLC | Corporate Debt - due 12/19/2023 - 6.000% | ** | 629 | |||||||||||||||||||||||
| NatWest Group PLC | Corporate Debt - due 12/15/2022 - 6.125% | ** | 1,265 | |||||||||||||||||||||||
| * | Nordstrom, Inc. | Corporate Debt - due 03/15/2028 - 6.950% | ** | 304 | ||||||||||||||||||||||
| Occidental Petroleum Corp. | Corporate Debt - due 08/15/2024 - 2.900% | ** | 1,035 | |||||||||||||||||||||||
| Occidental Petroleum Corp. | Corporate Debt - due 08/15/2026 - 3.200% | ** | 94 | |||||||||||||||||||||||
| Oracle Corp. | Corporate Debt - due 04/01/2030 - 2.950% | ** | 196 | |||||||||||||||||||||||
| Oracle Corp. | Corporate Debt - due 04/01/2040 - 3.600% | ** | 264 | |||||||||||||||||||||||
17 of 21
| (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 | ||||||||||||||||||||||
| Petrobras Global Finance B.V. | Corporate Debt - due 03/19/2049 - 6.900% | ** | 665 | |||||||||||||||||||||||
| Petrobras Global Finance B.V. | Corporate Debt - due 03/17/2044 - 7.250% | ** | 258 | |||||||||||||||||||||||
| Petrobras Global Finance B.V. | Corporate Debt - due 01/15/2030 - 5.093% | ** | 616 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 08/04/2026 - 6.875% | ** | 191 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 03/13/2027 - 6.500% | ** | 843 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 01/23/2045 - 6.375% | ** | 458 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 01/23/2030 - 6.840% | ** | 267 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 01/23/2050 - 7.690% | ** | 1,437 | |||||||||||||||||||||||
| Petroleos Mexicanos | Corporate Debt - due 06/15/2035 - 6.625% | ** | 693 | |||||||||||||||||||||||
| Prosus NV 144A | Corporate Debt - due 07/21/2025 - 5.500% | ** | 975 | |||||||||||||||||||||||
| Prosus NV 144A | Corporate Debt - due 07/06/2027 - 4.850% | ** | 747 | |||||||||||||||||||||||
| Prosus NV 144A | Corporate Debt - due 01/21/2030 - 3.680% | ** | 598 | |||||||||||||||||||||||
| RELX Capital, Inc. | Corporate Debt - due 03/18/2029 - 4.000% | ** | 297 | |||||||||||||||||||||||
| Rio Oil Finance Trust Series 144A | Corporate Debt - due 04/06/2028 - 8.200% | ** | 412 | |||||||||||||||||||||||
| Rio Oil Finance Trust Series 144A | Corporate Debt - due 07/06/2024 - 9.250% | ** | 782 | |||||||||||||||||||||||
| Rio Oil Finance Trust Series 144A | Corporate Debt - due 01/06/2027 - 9.750% | ** | 757 | |||||||||||||||||||||||
| SLM Student Loan Trust 20 3 A6 | Corporate Debt - due 04/25/2040 - Variable | ** | 4,020 | |||||||||||||||||||||||
| SLM Student Loan Trust 20 8 A6 | Corporate Debt - due 01/25/2041 - Variable | ** | 4,545 | |||||||||||||||||||||||
| Telecom Italia Capital S.A. | Corporate Debt - due 07/18/2036 - 7.200% | ** | 169 | |||||||||||||||||||||||
| Telecom Italia Capital S.A. | Corporate Debt - due 06/04/2038 - 7.721% | ** | 765 | |||||||||||||||||||||||
| Telecom Italia Spa/Milano 144A | Corporate Debt - due 05/30/2024 - 5.303% | ** | 924 | |||||||||||||||||||||||
| The Coca-Cola Co. | Corporate Debt - due 03/25/2030 - 3.450% | ** | 413 | |||||||||||||||||||||||
| The Coca-Cola Co. | Corporate Debt - due 06/01/2030 - 1.650% | ** | 359 | |||||||||||||||||||||||
| The Southern Co. | Corporate Debt - due 01/15/2051 - Variable | ** | 795 | |||||||||||||||||||||||
| The Walt Disney Co. | Corporate Debt - due 11/15/2037 - 6.650% | ** | 711 | |||||||||||||||||||||||
| The Williams Cos., Inc. | Corporate Debt - due 11/15/2030 - 3.500% | ** | 566 | |||||||||||||||||||||||
| Time Warner Cable LLC | Corporate Debt - due 07/01/2038 - 7.300% | ** | 482 | |||||||||||||||||||||||
| Time Warner Cable LLC | Corporate Debt - due 09/01/2021 - 4.000% | ** | 228 | |||||||||||||||||||||||
| T-Mobile USA, Inc. 144A | Corporate Debt - due 04/15/2030 - 3.875% | ** | 492 | |||||||||||||||||||||||
| T-Mobile USA, Inc. 144A | Corporate Debt - due 04/15/2040 - 4.375% | ** | 183 | |||||||||||||||||||||||
| T-Mobile USA, Inc. 144A | Corporate Debt - due 04/15/2050 - 4.500% | ** | 123 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 08/15/2076 - Variable | ** | 558 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 03/15/2077 - Variable | ** | 954 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 05/20/2075 - Variable | ** | 630 | |||||||||||||||||||||||
| TransCanada Trust | Corporate Debt - due 09/15/2079 - Variable | ** | 660 | |||||||||||||||||||||||
| Ultrapar International S.A.144A | Corporate Debt - due 10/06/2026 - 5.250% | ** | 389 | |||||||||||||||||||||||
| Ultrapar International S.A.144A | Corporate Debt - due 06/06/2029 - 5.250% | ** | 807 | |||||||||||||||||||||||
| Unicredit Spa 144A | Corporate Debt - due 04/02/2034 - Variable | ** | 1,028 | |||||||||||||||||||||||
| Unicredit Spa 144A | Corporate Debt - due 06/30/2035 - Variable | ** | 385 | |||||||||||||||||||||||
| Union Pacific Railroad Co. 2006 | Corporate Debt - due 07/02/2030 - 5.866% | ** | 580 | |||||||||||||||||||||||
| UNUM Group | Corporate Debt - due 03/15/2028 - 7.250% | ** | 288 | |||||||||||||||||||||||
| Verizon Communications, Inc. | Corporate Debt - due 01/15/2036 - 4.272% | ** | 589 | |||||||||||||||||||||||
| Wells Fargo & Co. | Corporate Debt - due 04/04/2051 - Variable | ** | 1,315 | |||||||||||||||||||||||
| Wells Fargo & Co. | Corporate Debt - due 06/03/2026 - 4.100% | ** | 287 | |||||||||||||||||||||||
| Wells Fargo & Co. | Corporate Debt - due 07/22/2027 - 4.300% | ** | 908 | |||||||||||||||||||||||
| Wells Fargo Bank NA | Corporate Debt - due 08/14/2023 - 3.550% | ** | 891 | |||||||||||||||||||||||
| Zoetis, Inc. | Corporate Debt - due 11/13/2025 - 4.500% | ** | 409 | |||||||||||||||||||||||
| * | BNY Mellon Cash Reserve | Interest-Bearing Cash - due 12/31/2049 - 0.100% | ** | 103 | ||||||||||||||||||||||
| California State | Municipal Debt - due 04/01/2034 - 7.500% | ** | 358 | |||||||||||||||||||||||
| California State | Municipal Debt - due 10/01/2039 - 7.300% | ** | 949 | |||||||||||||||||||||||
| Illinois State | Municipal Debt - due 06/01/2033 - 5.100% | ** | 1,076 | |||||||||||||||||||||||
| Los Angeles CA Unified School District | Municipal Debt - due 07/01/2034 - 6.758% | ** | 639 | |||||||||||||||||||||||
| New Jersey State Turnpike Authority | Municipal Debt - due 01/01/2041 - 7.102% | ** | 980 | |||||||||||||||||||||||
18 of 21
| (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 | ||||||||||||||||||||||
| Neuberger Berman Genesis Fund Class R-6 | Mutual Fund | ** | 205,771 | |||||||||||||||||||||||
| Vanguard Institutional Index Fund Institutional + | Mutual Fund | ** | 625,633 | |||||||||||||||||||||||
| SDB Money Market Fund | Self-directed Brokerage Money Market Fund | ** | 4,911 | |||||||||||||||||||||||
| Brokerage Securities | Self-directed Brokerage Securities | ** | 37,325 | |||||||||||||||||||||||
| * | Participant Loans | Loan interest rates range from 4.25% to 10.5% with various maturities through January 2041 | ** | 80,364 | ||||||||||||||||||||||
| Citigroup Capital XIII | Preferred Stock - due 10/30/2040 - 6.556% | ** | 849 | |||||||||||||||||||||||
| JPMorgan Chase & Co. | Preferred Stock - due 09/01/2030 - 8.750% | ** | 670 | |||||||||||||||||||||||
| Qurate Retail, Inc. | Preferred Stock - 8.000% | ** | 292 | |||||||||||||||||||||||
| Vodafone Group PLC | Preferred Stock - due 04/04/2079 - Variable | ** | 746 | |||||||||||||||||||||||
| Commitment to purchase FNMA Sf Mtg | U.S. Government Securities - due 03/01/2051 - 2.000% | ** | 3,770 | |||||||||||||||||||||||
| Commitment to purchase FNMA Sf Mtg | U.S. Government Securities - due 02/01/2051 - 2.500% | ** | 6,799 | |||||||||||||||||||||||
| FHLMC Pool #1H-2592 | U.S. Government Securities - due 01/01/2036 - Variable | ** | 63 | |||||||||||||||||||||||
| FHLMC Pool #78-1274 | U.S. Government Securities - due 02/01/2034 - Variable | ** | 52 | |||||||||||||||||||||||
| FHLMC Pool #84-0286 | U.S. Government Securities - due 05/01/2046 - Variable | ** | 238 | |||||||||||||||||||||||
| FHLMC Pool #84-9254 | U.S. Government Securities - due 01/01/2042 - Variable | ** | 59 | |||||||||||||||||||||||
| FHLMC Pool #84-9327 | U.S. Government Securities - due 05/01/2044 - Variable | ** | 305 | |||||||||||||||||||||||
| FHLMC Pool #84-9505 | U.S. Government Securities - due 10/01/2044 - Variable | ** | 100 | |||||||||||||||||||||||
| FHLMC Pool #84-9544 | U.S. Government Securities - due 12/01/2044 - Variable | ** | 170 | |||||||||||||||||||||||
| FHLMC Pool #84-9625 | U.S. Government Securities - due 01/01/2045 - Variable | ** | 154 | |||||||||||||||||||||||
| FHLMC Pool #84-9626 | U.S. Government Securities - due 08/01/2044 - Variable | ** | 213 | |||||||||||||||||||||||
| FHLMC Pool #84-9849 | U.S. Government Securities - due 10/01/2045 - Variable | ** | 74 | |||||||||||||||||||||||
| FHLMC Pool #C9-0981 | U.S. Government Securities - due 07/01/2026 - 6.500% | ** | 115 | |||||||||||||||||||||||
| FHLMC Pool #C9-1013 | U.S. Government Securities - due 01/01/2027 - 6.500% | ** | 83 | |||||||||||||||||||||||
| FHLMC Pool #G0-7600 | U.S. Government Securities - due 03/01/2042 - 4.500% | ** | 249 | |||||||||||||||||||||||
| FHLMC Pool #G0-8723 | U.S. Government Securities - due 08/01/2046 - 4.000% | ** | 1,680 | |||||||||||||||||||||||
| FHLMC Pool #G0-8768 | U.S. Government Securities - due 06/01/2047 - 4.500% | ** | 1,951 | |||||||||||||||||||||||
| FHLMC Pool #G0-8772 | U.S. Government Securities - due 07/01/2047 - 4.500% | ** | 690 | |||||||||||||||||||||||
| FHLMC Pool #G6-0153 | U.S. Government Securities - due 10/01/2044 - 4.500% | ** | 163 | |||||||||||||||||||||||
| FHLMC Pool #G6-0764 | U.S. Government Securities - due 10/01/2042 - 4.500% | ** | 228 | |||||||||||||||||||||||
| FHLMC Pool #G6-1080 | U.S. Government Securities - due 03/01/2047 - 4.500% | ** | 1,825 | |||||||||||||||||||||||
| FHLMC Pool #H0-1774 | U.S. Government Securities - due 09/01/2037 - 6.500% | ** | 13 | |||||||||||||||||||||||
| FHLMC Pool #H0-9197 | U.S. Government Securities - due 10/01/2038 - 6.500% | ** | 11 | |||||||||||||||||||||||
| FHLMC Pool #H0-9212 | U.S. Government Securities - due 05/01/2038 - 5.500% | ** | 14 | |||||||||||||||||||||||
| FHLMC Pool #Q0-3517 | U.S. Government Securities - due 09/01/2041 - 4.500% | ** | 213 | |||||||||||||||||||||||
| FHLMC Pool #Q5-5948 | U.S. Government Securities - due 05/01/2048 - 4.500% | ** | 0 | |||||||||||||||||||||||
| FHLMC Pool #RA-2958 | U.S. Government Securities - due 07/01/2050 - 2.000% | ** | 2,096 | |||||||||||||||||||||||
| FHLMC Pool #RA-3053 | U.S. Government Securities - due 07/01/2050 - 2.000% | ** | 871 | |||||||||||||||||||||||
| FHLMC Pool #RA-3167 | U.S. Government Securities - due 07/01/2050 - 2.000% | ** | 3,253 | |||||||||||||||||||||||
| FHLMC Multiclass MTG 2957 VZ | U.S. Government Securities - due 02/15/2035 - 5.000% | ** | 431 | |||||||||||||||||||||||
| FHLMC Multiclass MTG 4283 EW | U.S. Government Securities - due 12/15/2043 - Variable | ** | 148 | |||||||||||||||||||||||
| FHLMC Multiclass Mtg 4319 MA | U.S. Government Securities - due 03/15/2044 - Variable | ** | 291 | |||||||||||||||||||||||
| FNMA Pool #0256851 | U.S. Government Securities - due 08/01/2037 - 7.000% | ** | 23 | |||||||||||||||||||||||
| FNMA Pool #0735503 | U.S. Government Securities - due 04/01/2035 - 6.000% | ** | 80 | |||||||||||||||||||||||
| FNMA Pool #0735608 | U.S. Government Securities - due 03/01/2035 - Variable | ** | 119 | |||||||||||||||||||||||
| FNMA Pool #0745329 | U.S. Government Securities - due 07/01/2035 - 6.000% | ** | 123 | |||||||||||||||||||||||
| FNMA Pool #0884704 | U.S. Government Securities - due 06/01/2036 - Variable | ** | 26 | |||||||||||||||||||||||
| FNMA Pool #0888154 | U.S. Government Securities - due 11/01/2036 - Variable | ** | 77 | |||||||||||||||||||||||
| FNMA Pool #0888367 | U.S. Government Securities - due 03/01/2037 - 7.000% | ** | 227 | |||||||||||||||||||||||
| FNMA Pool #0889634 | U.S. Government Securities - due 02/01/2023 - 6.000% | ** | 29 | |||||||||||||||||||||||
| FNMA Pool #0889984 | U.S. Government Securities - due 10/01/2038 - 6.500% | ** | 91 | |||||||||||||||||||||||
| FNMA Pool #0976853 | U.S. Government Securities - due 11/01/2029 - 5.500% | ** | 98 | |||||||||||||||||||||||
| FNMA Pool #0995487 | U.S. Government Securities - due 08/01/2037 - 6.000% | ** | 152 | |||||||||||||||||||||||
19 of 21
| (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 #0AB1763 | U.S. Government Securities - due 11/01/2030 - 4.000% | ** | 63 | |||||||||||||||||||||||
| FNMA Pool #0AB8086 | U.S. Government Securities - due 10/01/2037 - 6.000% | ** | 39 | |||||||||||||||||||||||
| FNMA Pool #0AD0121 | U.S. Government Securities - due 09/01/2029 - 4.500% | ** | 215 | |||||||||||||||||||||||
| FNMA Pool #0AD0130 | U.S. Government Securities - due 08/01/2039 - 6.500% | ** | 22 | |||||||||||||||||||||||
| FNMA Pool #0AD0198 | U.S. Government Securities - due 09/01/2038 - 5.500% | ** | 61 | |||||||||||||||||||||||
| FNMA Pool #0AD0217 | U.S. Government Securities - due 08/01/2037 - 6.000% | ** | 143 | |||||||||||||||||||||||
| FNMA Pool #0AD0218 | U.S. Government Securities - due 09/01/2036 - 6.000% | ** | 145 | |||||||||||||||||||||||
| FNMA Pool #0AD0964 | U.S. Government Securities - due 11/01/2039 - 5.500% | ** | 289 | |||||||||||||||||||||||
| FNMA Pool #0AL1845 | U.S. Government Securities - due 06/01/2039 - Variable | ** | 29 | |||||||||||||||||||||||
| FNMA Pool #0AL1900 | U.S. Government Securities - due 08/01/2026 - 4.500% | ** | 93 | |||||||||||||||||||||||
| FNMA Pool #0AL4577 | U.S. Government Securities - due 01/01/2034 - 4.500% | ** | 214 | |||||||||||||||||||||||
| FNMA Pool #0AL5145 | U.S. Government Securities - due 10/01/2033 - 4.000% | ** | 327 | |||||||||||||||||||||||
| FNMA Pool #0AL5749 | U.S. Government Securities - due 07/01/2042 - 4.500% | ** | 240 | |||||||||||||||||||||||
| FNMA Pool #0AL6120 | U.S. Government Securities - due 11/01/2044 - Variable | ** | 632 | |||||||||||||||||||||||
| FNMA Pool #0AL6132 | U.S. Government Securities - due 03/01/2029 - 4.500% | ** | 108 | |||||||||||||||||||||||
| FNMA Pool #0AL6209 | U.S. Government Securities - due 07/01/2021 - Variable | ** | 30 | |||||||||||||||||||||||
| FNMA Pool #0AL6245 | U.S. Government Securities - due 01/01/2045 - Variable | ** | 184 | |||||||||||||||||||||||
| FNMA Pool #0AL7205 | U.S. Government Securities - due 12/01/2029 - 3.500% | ** | 263 | |||||||||||||||||||||||
| FNMA Pool #0AL7384 | U.S. Government Securities - due 09/01/2045 - 4.500% | ** | 202 | |||||||||||||||||||||||
| FNMA Pool #0AL8556 | U.S. Government Securities - due 08/01/2044 - 4.500% | ** | 1,222 | |||||||||||||||||||||||
| FNMA Pool #0AL8816 | U.S. Government Securities - due 09/01/2045 - 4.500% | ** | 291 | |||||||||||||||||||||||
| FNMA Pool #0AL8919 | U.S. Government Securities - due 07/01/2046 - Variable | ** | 131 | |||||||||||||||||||||||
| FNMA Pool #0AL9407 | U.S. Government Securities - due 09/01/2042 - 4.500% | ** | 121 | |||||||||||||||||||||||
| FNMA Pool #0AL9781 | U.S. Government Securities - due 02/01/2046 - 4.500% | ** | 424 | |||||||||||||||||||||||
| FNMA Pool #0AO4105 | U.S. Government Securities - due 06/01/2042 - Variable | ** | 130 | |||||||||||||||||||||||
| FNMA Pool #0AO8469 | U.S. Government Securities - due 05/01/2042 - Variable | ** | 43 | |||||||||||||||||||||||
| FNMA Pool #0AP7562 | U.S. Government Securities - due 09/01/2042 - Variable | ** | 495 | |||||||||||||||||||||||
| FNMA Pool #0AW4697 | U.S. Government Securities - due 05/01/2044 - Variable | ** | 108 | |||||||||||||||||||||||
| FNMA Pool #0AX3721 | U.S. Government Securities - due 07/01/2027 - 3.500% | ** | 220 | |||||||||||||||||||||||
| FNMA Pool #0BF0118 | U.S. Government Securities - due 06/01/2056 - 4.500% | ** | 558 | |||||||||||||||||||||||
| FNMA Pool #0BH7071 | U.S. Government Securities - due 12/01/2047 - 4.500% | ** | 451 | |||||||||||||||||||||||
| FNMA Pool #0BK0922 | U.S. Government Securities - due 07/01/2048 - 4.500% | ** | 438 | |||||||||||||||||||||||
| FNMA Pool #0BM1357 | U.S. Government Securities - due 01/01/2043 - 4.500% | ** | 574 | |||||||||||||||||||||||
| FNMA Pool #0BM6149 | U.S. Government Securities - due 10/01/2049 - Variable | ** | 582 | |||||||||||||||||||||||
| FNMA Pool #0BN7702 | U.S. Government Securities - due 08/01/2049 - 3.500% | ** | 6 | |||||||||||||||||||||||
| FNMA Pool #0CA6271 | U.S. Government Securities - due 07/01/2050 - 2.500% | ** | 4,862 | |||||||||||||||||||||||
| FNMA Pool #0CA6329 | U.S. Government Securities - due 07/01/2050 - 2.500% | ** | 5,907 | |||||||||||||||||||||||
| FNMA Pool #0CA6398 | U.S. Government Securities - due 07/01/2050 - 2.500% | ** | 1,727 | |||||||||||||||||||||||
| FNMA Pool #0CA6925 | U.S. Government Securities - due 09/01/2050 - 2.000% | ** | 1,714 | |||||||||||||||||||||||
| FNMA Pool #0CA8099 | U.S. Government Securities - due 12/01/2050 - 2.000% | ** | 2,601 | |||||||||||||||||||||||
| FNMA Pool #0FM4714 | U.S. Government Securities - due 10/01/2050 - 2.500% | ** | 3,623 | |||||||||||||||||||||||
| FNMA Pool #0MA0232 | U.S. Government Securities - due 11/01/2029 - 4.500% | ** | 275 | |||||||||||||||||||||||
| FNMA Pool #0MA2366 | U.S. Government Securities - due 08/01/2035 - 4.000% | ** | 238 | |||||||||||||||||||||||
| FNMA Pool #0MA2455 | U.S. Government Securities - due 11/01/2035 - 4.000% | ** | 547 | |||||||||||||||||||||||
| FNMA Pool #0MA2480 | U.S. Government Securities - due 12/01/2035 - 4.000% | ** | 278 | |||||||||||||||||||||||
| FNMA Pool #0MA2880 | U.S. Government Securities - due 01/01/2037 - 4.000% | ** | 1,232 | |||||||||||||||||||||||
| FNMA Pool #0MA2923 | U.S. Government Securities - due 03/01/2037 - 3.500% | ** | 628 | |||||||||||||||||||||||
| FNMA GTD Remic P/T 01-79 BA | U.S. Government Securities - due 03/25/2045 - 7.000% | ** | 25 | |||||||||||||||||||||||
| FNMA GTD Remic P/T 01-T10 A1 | U.S. Government Securities - due 12/25/2041 - 7.000% | ** | 161 | |||||||||||||||||||||||
| FNMA GTD Remic P/T 04-W2 5A | U.S. Government Securities - due 03/25/2044 - 7.500% | ** | 162 | |||||||||||||||||||||||
| FNMA GTD Remic P/T 07-50 DZ | U.S. Government Securities - due 06/25/2037 - 5.500% | ** | 341 | |||||||||||||||||||||||
| FNMA GTD Remic P/T 07-W10 2A | U.S. Government Securities - due 08/25/2047 - Variable | ** | 114 | |||||||||||||||||||||||
| FNMA GTD Remic P/T 12-46 BA | U.S. Government Securities - due 05/25/2042 - 6.000% | ** | 293 | |||||||||||||||||||||||
20 of 21
| (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 GTD Remic P/T 13-128 CF | U.S. Government Securities - due 12/25/2043 - Variable | ** | 661 | |||||||||||||||||||||||
| GNMA GTD Remic P/T 15-H23 FA | U.S. Government Securities - due 09/20/2065 - Variable | ** | 658 | |||||||||||||||||||||||
| GNMA GTD Remic P/T 16-H24 FD | U.S. Government Securities - due 11/20/2066 - Variable | ** | 1,344 | |||||||||||||||||||||||
| GNMA GTD Remic P/T 17-H24 FG | U.S. Government Securities - due 11/20/2067 - Variable | ** | 2,001 | |||||||||||||||||||||||
| GNMA GTD Remic P/T 19-H02 FG | U.S. Government Securities - due 12/20/2068 - Variable | ** | 497 | |||||||||||||||||||||||
| GNMA GTD Remic P/T 19-H17 FA | U.S. Government Securities - due 11/20/2069 - Variable | ** | 786 | |||||||||||||||||||||||
| GNMA GTD Remic P/T 20-H01 FV | U.S. Government Securities - due 01/20/2070 - Variable | ** | 4,466 | |||||||||||||||||||||||
| SBA Gtd Partn Ctfs 2006-20E 1 | U.S. Government Securities - due 05/01/2026 - 5.870% | ** | 52 | |||||||||||||||||||||||
| SBA Gtd Partn Ctfs 2007-20B 1 | U.S. Government Securities - due 02/01/2027 - 5.490% | ** | 61 | |||||||||||||||||||||||
| SBA Gtd Partn Ctfs 2007-20D 1 | U.S. Government Securities - due 04/01/2027 - 5.320% | ** | 42 | |||||||||||||||||||||||
| U.S. Treasury Bond | U.S. Government Securities - due 11/15/2050 - 1.625% | ** | 921 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 11/30/2022 - 0.125% | ** | 2,425 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 11/15/2030 - 0.875% | ** | 6,822 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 10/31/2025 - 0.250% | ** | 3,485 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 09/30/2022 - 0.125% | ** | 650 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 08/15/2030 - 0.625% | ** | 583 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 06/30/2022 - 0.125% | ** | 2,290 | |||||||||||||||||||||||
| U.S. Treasury Note | U.S. Government Securities - due 05/31/2022 - 0.125% | ** | 1,665 | |||||||||||||||||||||||
21 of 21