UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
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þ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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| For the fiscal year ended December 31, 2018 |
OR
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¨ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission file number 1-3863
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
Harris Corporation Retirement Plan
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Harris Corporation
1025 West NASA Blvd.
Melbourne, Florida 32919
HARRIS CORPORATION
RETIREMENT PLAN
Audited Financial Statements and Supplemental Schedule
As of December 31, 2018 and 2017
and for the Year Ended December 31, 2018
HARRIS CORPORATION RETIREMENT PLAN
December 31, 2018 and 2017 and for the year ended December 31, 2018
Table of Contents
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Report of Independent Registered Certified Public Accounting Firm | 1 |
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Report of Independent Registered Certified Public Accounting Firm | 2 |
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Audited Financial Statements: | |
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Statements of Net Assets Available for Benefits | 3 |
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Statement of Changes in Net Assets Available for Benefits | 4 |
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Notes to the Financial Statements | 5 |
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Supplemental Information: | |
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Schedule H, Line 4(i) — Schedule of Assets (Held at End of Year) | 12 |
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Signature | 41 |
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Exhibit: | |
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23.1 Consent of Independent Registered Certified Public Accounting Firm | 42 |
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23.2 Consent of Independent Registered Certified Public Accounting Firm | 43 |
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.
REPORT OF INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM
To the Participants and Employee Benefits Committee of the Harris Corporation Retirement Plan
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the Harris Corporation Retirement Plan (the “Plan”) as of December 31, 2018, and the related statement of changes in net assets available for benefits for the year ended December 31, 2018, and the related notes. 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, 2018, and the changes in net assets available for benefits for the year ended December 31, 2018, 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 audit. 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 audit 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 in accordance with the standards of the PCAOB. As part of our audit, 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 in accordance with the standards of the PCAOB.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit 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 audit provides a reasonable basis for our opinion.
Supplemental Information
The supplemental Schedule of Assets (Held at End of Year) as of December 31, 2018 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information presented in the supplemental schedule 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 supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, 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 Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.
We have served as the Plan’s auditor since 2019.
/s/ Buchbinder Tunick & Company LLP
Bethesda, MD
June 25, 2019
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Participants and the Harris Corporation Employee Benefits Committee of
the Harris Corporation Retirement Plan
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the Harris Corporation
Retirement Plan (the “Plan”) as of December 31, 2017, and the related notes (collectively referred to as the “financial statement”). In our opinion, the financial statement presents fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
This financial statement is the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statement based on our audit. 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 audit 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 statement is 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 audit, 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 audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion.
/s/ Carr, Riggs & Ingram, LLC
Clearwater, Florida
June 28, 2018
HARRIS CORPORATION RETIREMENT PLAN
Statements of Net Assets Available for Benefits
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| December 31, 2018 | | December 31, 2017 |
ASSETS | | | |
Investments at fair value: | | | |
Interest bearing cash | $ | 13,269,796 |
| | $ | 21,776,479 |
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Preferred stocks | 10,147,232 |
| | 7,941,595 |
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Brokerage window account | 37,088,717 |
| | 31,944,710 |
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Corporate bonds & debentures | 1,742,905 |
| | 1,734,403 |
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Partnership interests | 265,490 |
| | 244,513 |
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Common stocks | 1,294,021,719 |
| | 1,368,338,581 |
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Registered investment companies | 4,352,740 |
| | 171,010,952 |
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Common/collective trust funds | 3,702,633,013 |
| | 4,041,369,625 |
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| | | |
Total investments at fair value | 5,063,521,612 |
| | 5,644,360,858 |
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Investments at contract value: | | | |
Synthetic guaranteed investment contracts | 1,092,167,097 |
| | 1,039,241,263 |
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Receivables: | | | |
Accrued interest and dividends | 1,330,926 |
| | 1,312,460 |
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Participant contributions receivable | 6,660,916 |
| | 6,250,380 |
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Employer matching contributions receivable | 3,017,582 |
| | 2,871,716 |
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Notes receivable from participants | 54,967,712 |
| | 55,994,836 |
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Due from broker for securities sold | 2,352,926 |
| | 12,820,957 |
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Total receivables | 68,330,062 |
| | 79,250,349 |
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Total assets | 6,224,018,771 |
| | 6,762,852,470 |
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LIABILITIES | | | |
Accrued administrative expenses | 1,985,967 |
| | 989,500 |
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Due to broker for securities purchased | 1,225,124 |
| | 3,256,713 |
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| | | |
Total liabilities | 3,211,091 |
| | 4,246,213 |
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Net assets available for benefits | $ | 6,220,807,680 |
| | $ | 6,758,606,257 |
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The accompanying notes are an integral part of these financial statements.
HARRIS CORPORATION RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
For the year ended December 31, 2018
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Additions to net assets attributed to: | |
Investment income: | |
Net depreciation in fair value of investments | $ | (288,196,669 | ) |
Net appreciation in contract value of investments | 15,146,933 |
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Dividends | 23,800,156 |
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Total | (249,249,580 | ) |
Contributions: | |
Participant rollovers | 24,754,548 |
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Employer matching | 9,924,228 |
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Employer matching (in-kind benefit) | 72,004,684 |
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Participant (other than rollovers) | 168,179,976 |
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Total contributions | 274,863,436 |
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Interest on notes receivable from participants | 2,756,652 |
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Total additions | 28,370,508 |
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Deductions from net assets attributed to: | |
Benefits paid to participants | 554,792,870 |
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Administrative expenses | 11,376,215 |
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Total deductions | 566,169,085 |
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Net change in plan assets available for benefits | (537,798,577 | ) |
Net assets available for benefits: | |
Beginning of year | 6,758,606,257 |
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End of year | $ | 6,220,807,680 |
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The accompanying notes are an integral part of these financial statements.
HARRIS CORPORATION RETIREMENT PLAN
Notes to the Financial Statements
December 31, 2018 and 2017
NOTE 1 — DESCRIPTION OF PLAN
The following description of the Harris Corporation Retirement Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
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A. | General — The Plan is a defined contribution plan with a 401(k) feature covering eligible employees of Harris Corporation and certain of its subsidiaries (collectively, the “Company” or “Employer”) as defined in the Plan document. The Plan Administrator is the Harris Corporation Employee Benefits Committee comprised of persons appointed by Harris Corporation. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). |
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B. | Contributions — Participants may contribute a percentage of eligible compensation, as defined in the Plan document and subject to Internal Revenue Code (the “Code”) limitations, on a pre-tax and/or an after-tax basis. After-tax contributions may be made either on a regular after-tax basis or on a designated Roth after-tax basis. Participants age 50 and older by the end of the calendar year can contribute an additional amount above the annual pre-tax/designated Roth after-tax limitation, as defined in the Plan document and subject to Code limitations. The Company matches up to 100% of pre-tax and after-tax contributions subject to a limit of 6% (5% for a participant who is accruing a benefit under the Company’s defined benefit pension plan) of eligible compensation for any eligible employee who has completed one year of service with the Company. Special matching rules apply to participants who are subject to a collective bargaining agreement. Company matching contributions generally are made to the Plan in the form of Employer stock, except for participants who are subject to a collective bargaining agreement. Full-time regular participants who are not subject to a collective bargaining agreement and who make no election with respect to their contribution percentage are deemed to have elected deferment of 6% of eligible compensation on a pre-tax basis. The Company may make discretionary profit sharing contributions to the Plan in an amount determined by the Company, allocated to eligible participants based on eligible compensation as defined in the Plan document. For the year ended December 31, 2018, no profit sharing contributions were made. Additional Company contributions may be made on behalf of participants who are subject to a collective bargaining agreement or to satisfy, in part, the Company’s obligations to certain participants under wage determination or similar laws. In addition, participants may rollover amounts to the Plan from other qualified retirement plans or certain individual retirement accounts (“IRAs”). |
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C. | Payments of Benefits — Prior to termination of employment, a participant may withdraw all or any portion of his or her regular after-tax account balance or rollover account balance. A participant may also receive a distribution while employed for financial hardship, as defined in the Plan document, after attainment of age 59 1/2 or in certain cases, in connection with active military duty. Upon retirement or other termination of employment, a participant may elect to receive either a lump-sum amount equal to all or a portion of the participant’s vested account, or installments of his or her vested account over a future period. Alternatively, a participant generally will be eligible to rollover his or her vested account to an eligible retirement plan or IRA. In addition, certain other distribution options applicable to assets merged into the Plan have been preserved, as legally required. |
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D. | Participant Loans — The participant loan program permits participants to borrow against their pre-tax, regular after-tax, qualified non-elective, designated Roth after-tax and rollover accounts. A participant may borrow in increments of $100 from a minimum of $500 to a maximum of 50% of the vested portion of the participant’s account or $50,000 whichever is lower, within certain limitations established by the Plan document. Payback periods range from one to five years unless the loan is to be used for the purchase of a principal residence, in which case the payback period generally may not exceed ten years. Interest rates are established by the Plan Administrator based on market rates. Loans are paid back ratably through payroll deductions (or, if the participant is not receiving paychecks, then they are paid back by personal, certified or cashier’s check, money order or electronic transfer). The outstanding loans have been established as a separate fund. |
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E. | Participant Accounts — Each participant’s account is credited with the participant’s contributions, including the contribution, if any, in respect of the participant’s election under the Company’s Performance Reward Plan (or similar plan), and allocations of (a) the Company’s contributions and (b) Plan earnings, and is charged with an allocation of Plan losses and administrative expenses. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account. |
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F. | Vesting — Participants are immediately vested in their pre-tax, regular after-tax, designated Roth after-tax, qualified non-elective and rollover contributions plus earnings thereon. Participants also are immediately vested in Company contributions other than Employer matching and any profit sharing contributions, plus earnings thereon. Vesting in the Employer matching and any profit sharing contributions, plus earnings thereon, is based on years of service, as |
defined in the Plan document. A participant is 100% vested after four years of service, based on the following schedule.
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| | |
Years of Service | Vesting Percentage |
Less than 1 year | 0 | % |
1 year | 25 | % |
2 years | 50 | % |
3 years | 75 | % |
4 years | 100 | % |
However, certain vesting schedules applicable to assets merged into the Plan have been preserved, as legally required, and may result in the vesting of Employer matching and any profit sharing contributions, plus earnings thereon, more quickly than described above. In addition, in the event of a disposition by the Company of a business or substantially all of the assets of a business, the participants impacted by such disposition may in certain circumstances become 100% vested in Employer matching and any profit sharing contributions, plus earnings thereon.
A participant also becomes 100% vested in Employer matching and any profit sharing contributions, plus earnings thereon, upon his or her termination of employment after attaining age 55 or on account of his or her death or disability (as defined in the Plan document), or if a participant dies while on leave of absence due to qualified military service.
In addition, special vesting applies to certain participants in the Plan who are subject to a collective bargaining agreement. Certain of such participants are immediately vested in their Employer matching and any profit sharing contributions, plus earnings thereon, and others become vested in their Employer matching and any profit sharing contributions, plus earnings thereon, as follows: |
| | |
Years of Service | Vesting Percentage |
Less than 1 year | 0 | % |
1 year | 20 | % |
2 years | 40 | % |
3 years | 60 | % |
4 years | 80 | % |
5 years | 100 | % |
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G. | Forfeitures — A terminated participant who is not 100% vested will forfeit the non-vested portion of the Company’s contributions plus earnings thereon unless the participant returns to employment within five years. The forfeited contributions are used first, to restore the accounts of recently located missing participants, as defined in the Plan document; next, to restore the accounts of participants who are reemployed prior to incurring a break in service of five consecutive years; next, to fund any Company contributions to be allocated to participants who are reemployed after a period of qualified military service, as defined in the Plan document; and finally, to reduce future contributions to the Plan by the Company. Forfeited amounts included in Plan assets at December 31, 2018 and 2017 were $53,311 and $584,461, respectively. For the year ended December 31, 2018, Company contributions to the Plan were reduced by $1,637,242 from forfeited non-vested accounts. |
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H. | 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. In the event of Plan termination, participants will become 100% vested in their accounts. |
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I. | Investment Options — Upon enrollment in the Plan, a participant may direct Company and participant contributions into any of several investment options (including the Harris Stock Fund) and/or a brokerage window account. A participant may transfer amounts from other investment options into the Harris Stock Fund, provided that no transfer shall cause more than 20% of a participant’s account to be invested in the Harris Stock Fund. Notwithstanding the foregoing, effective February 9, 2018, a participant generally may elect to invest in the Harris Stock Fund up to 100% of newly made Company matching contributions for his or her benefit. The Harris Stock Fund has been designated as an “employee stock ownership plan,” which means that the Company is entitled to a deduction for dividends paid on shares held in the Harris Stock Fund. Any such dividends are 100% vested and participants are permitted to elect that such dividends either be maintained in the Plan and reinvested in the Harris Stock Fund or paid from the Plan in cash to the participant. |
The investment options are described in detail in the Plan’s “Summary Plan Description,” which is available to all participants. In the event no investment option is selected by a participant, the default investment option for contributions is the LifeCycle Fund that is age-appropriate for the participant. Elections to change investment options can be made daily; however, amounts in the Stable Value Fund cannot be transferred directly to the Money Market Fund. Investments are governed by certain limitations described in the Plan document and the “Summary Plan Description.”
NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting — The accounting records of the Plan are maintained on the accrual basis and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Valuation of Investments and Income Recognition — Investments are stated at fair value, except for fully‑benefit responsive investments, which are stated at contract value. For investments stated at fair value, quoted market prices are used, when available, to value investments. Investments for which quoted market prices are not available are stated at fair values as reported by the Trustee or investee company. See Note 6 — Financial Instruments for further information on the valuation of investments. Purchases and sales of investments are recorded on a trade date basis. Interest income is recorded on the accrual basis, and dividends are recorded on the ex-dividend date. Net appreciation or depreciation includes the Plan’s gains and losses on investments.
Notes Receivable from Participants — Notes receivable from participants represent participant loans recorded at their unpaid principal balance plus any accrued but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2018 or 2017. If a participant ceases to make loan repayments and the Plan Administrator deems the participant loan to be a distribution, the participant loan balance is reduced and a benefit payment is recorded upon the participant’s eligibility for a Plan distribution.
Payment of Benefits — Benefits to participants or their beneficiaries are recorded when paid.
Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires the Plan Administrator to make estimates and assumptions that affect certain reported amounts, disclosures, and schedules. Accordingly, actual results may differ from those estimates.
Administrative Expenses — Unless otherwise elected by the Company, all reasonable charges and expenses incurred in connection with the administration of the Plan are paid by the Trustee from the assets of the trust.
New Accounting Standards — In January 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, Financial Instruments-Overall (Subtopic 825-10). ASU No. 2017-01 requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. ASU No. 2017-01 also requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. ASU No. 2017-01 is effective for employee benefit plans for fiscal years beginning after December 15, 2018. Management is currently evaluating the impact of ASU No. 2017-01 on the Plan’s financial statements.
In August 2018, FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Plan is currently assessing the timing and impact of adopting the updated provisions.
NOTE 3 — RELATED-PARTY TRANSACTIONS
Certain Plan investments are shares of common stock of Harris Corporation and balances in common/collective trust funds that are managed by Northern Trust. Harris Corporation is the Plan sponsor and Northern Trust is the Trustee of the Plan, therefore, these transactions qualified as exempt party-in-interest transactions under the provisions of ERISA.
The Plan’s investments in Harris Corporation common stock (included with other common stock) and in common/collective trust funds managed by Northern Trust (included with other common/collective trust funds) were as follows:
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| | | | | | | | | |
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| December 31, 2018 | December 31, 2017 |
| Shares | Fair Value | Shares | Fair Value |
Common stock | | | | |
Harris Corporation common stock | 2119111 |
| $ | 285,338,296 |
| 2188718 | $ | 310,031,905 |
|
Common/collective trust funds | | | | |
NT Collective Aggregate Bond Index Fund — Non Lending | 1378876 |
| 193,704,488 |
| 2831284 | 397,625,424 |
|
NT Collective Extended Equity Index Fund — Non Lending | 834755 |
| 239,567,863 |
| 770622 | 244,322,474 |
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NT Collective Russell 1000 Index Fund — Non Lending | — |
| — |
| 5153887 | 153,508,527 |
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NT Collective S&P 500 Index Fund-DC-Non Lending (Tier J) | 66635 |
| 583,266,636 |
| 67421 | 617,346,104 |
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NTGI Collective Govt STIF Registered | 7898705 |
| 7,898,705 |
| 97430831 | 97,430,831 |
|
During 2018, the Plan made the following purchases and sales of related party investments:
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| | | | | | | |
| | | |
| Purchases | | Sales |
Common stock | | | |
Harris Corporation common stock | $ | 28,723,759 |
| | $ | 105,919,797 |
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Common/collective trust funds | | | |
NT Collective Russell 1000 Index Fund — Non Lending | — |
| | 153,511,677 |
|
NT Collective Extended Equity Index Fund — Non Lending | 53,904,497 |
| | 31,236,064 |
|
NT Collective S&P 500 Index Fund-DC-Non Lending (Tier J) | 73,433,672 |
| | 79,032,001 |
|
NT Collective Aggregate Bond Index Fund — Non Lending (Tier J) | 24,841,110 |
| | 228,671,576 |
|
NTGI Collective Govt STIF Registered | * |
| | * |
|
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* | Activity in this fund represents overnight interest bearing deposits (sweeps) of otherwise un-invested daily cash. |
NOTE 4 — INCOME TAX STATUS
The Plan has received a determination letter from the Internal Revenue Service (“IRS”) dated August 23, 2017 stating that the Plan is qualified under Section 401(a) of the Code and the related trust is exempt from taxation. Although the Plan has been amended since receiving the determination letter, the Plan’s sponsor and the Plan’s tax counsel believe the Plan, as amended, is qualified and the related trust is exempt from taxation.
U.S. GAAP requires Plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2018, there are no uncertain positions taken or expected to be taken. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no IRS audits of the Plan in progress for any tax periods.
NOTE 5 — CREDIT RISKS AND UNCERTAINTIES
Cash amounts at the Trustee may exceed the federally insured limit from time to time. The Plan provides for investments in various investment securities, which, in general, are exposed to certain risks, such as interest rate, credit and overall market volatility risks. 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 participant account balances and the amounts reported in the Statements of Net Assets Available for Benefits.
NOTE 6 — FINANCIAL INSTRUMENTS
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal market (or most advantageous market, in the absence of a principal market) for the asset or liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). A three-level fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:
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• | Level 1 — inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. |
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• | Level 2 — inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. |
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• | Level 3 — inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models and similar techniques for which some or all significant assumptions are not observable. |
The following section describes the valuation methodologies the Plan uses to measure financial assets at fair value.
In general, and where applicable, the Plan uses quoted prices in active markets for identical assets to determine fair value. This pricing methodology applies to the Plan’s Level 1 assets which include interest bearing cash, common stocks, corporate bonds and debentures, partnership interests, the brokerage window account and registered investment companies. If quoted prices in active markets for identical assets are not available to determine fair value, then the Plan uses quoted prices for similar assets or inputs other than the quoted prices that are observable either directly or indirectly. These assets are included in Level 2 and consist of preferred stocks. Assets for which fair value is determined by management using assumptions that market participants would use in pricing assets are included in Level 3. As of December 31, 2018 and 2017, there were no Level 3 assets held by the Plan.
Common/collective trust funds share the common goal of first growing then later preserving principal and contain a mix of U.S. stocks, U.S. issued bonds and cash. There are currently no redemption restrictions on these investments. The fair values of the investments in this category have been estimated using the net asset value per unit calculated by the investment’s issuer utilizing quoted market prices, most recent bid prices in the principal market in which the securities are normally traded, pricing services and dealer quotes. Net assest values (NAV) are reported by the funds and are supported by the underlying share prices of actual purchases and sale transactions occurring as of or close to the financial statement date. Assets measured at net asset value are exempt from the fair value hierarchy.
Assets Measured at Fair Value on a Recurring Basis
Assets measured at fair value on a recurring basis at December 31, 2018 are as follows:
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| | | | | | | | | | | |
| | | | |
| Level 1 | Level 2 | Level 3 | Total |
Assets | | | | |
Interest bearing cash | $ | 13,269,796 |
| $ | — |
| $ — | $ | 13,269,796 |
|
Preferred stocks | — |
| 10,147,232 |
| — |
| 10,147,232 |
|
Brokerage window account | 37,088,717 |
| — |
| — |
| 37,088,717 |
|
Corporate bonds & debentures | 1,742,905 |
| — |
| — |
| 1,742,905 |
|
Partnership interests | 265,490 |
| — |
| — |
| 265,490 |
|
Common stocks | 1,294,021,719 |
| — |
| — |
| 1,294,021,719 |
|
Registered investment companies | 4,352,740 |
| — |
| — |
| 4,352,740 |
|
| | | | |
Total Assets in the Fair Value Hierarchy | $ | 1,350,741,367 |
| $ | 10,147,232 |
| $ — | $ | 1,360,888,599 |
|
Investments measured at NAV | | | | $ | 3,702,633,013 |
|
Total Investments at Fair Value | | | | $ | 5,063,521,612 |
|
| | | | |
Assets measured at fair value on a recurring basis at December 31, 2017 were as follows:
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| | | | | | | | | | | |
| | | | |
| Level 1 | Level 2 | Level 3 | Total |
Assets | | | | |
Interest bearing cash | $ | 21,776,479 |
| $ | — |
| $ — | $ | 21,776,479 |
|
Preferred stocks | — |
| 7,941,595 |
| — |
| 7,941,595 |
|
Brokerage window account | 31,944,710 |
| — |
| — |
| 31,944,710 |
|
Corporate bonds & debentures | 1,734,403 |
| — |
| — |
| 1,734,403 |
|
Partnership interests | 244,513 |
| — |
| — |
| 244,513 |
|
Common stocks | 1,368,338,581 |
| — |
| — |
| 1,368,338,581 |
|
Registered investment companies | 171,010,952 |
| — |
| — |
| 171,010,952 |
|
| | | | |
Total Assets in the Fair Value Hierarchy | $ | 1,595,049,638 |
| $ | 7,941,595 |
| $ — | $ | 1,602,991,233 |
|
Investments measured at NAV | | | | $ | 4,041,369,625 |
|
Total Investments at Fair Value | | | | $ | 5,644,360,858 |
|
| | | | |
NOTE 7 — SYNTHETIC GUARANTEED INVESTMENT CONTRACTS
During 2018 and 2017, the Plan held fully benefit-responsive, synthetic guaranteed investment contracts (“synthetic GICs”) in its Stable Value Fund (the “Fund”) which are stated at contract value. A corresponding contract wrapper with the issuer of the synthetic GICs was also held in order to provide a variable rate of return on the cost of the investment. The interest crediting rate of synthetic GICs is based on the contract value, and the fair value, duration and yield to maturity of the portfolio of bonds underlying the synthetic GICs. The interest crediting rate is reset quarterly. The minimum crediting rate is zero percent.
The interest crediting rate reset allows the contract value to converge with the fair value of the underlying portfolio over time, assuming the portfolio continues to earn the current yield for a period of time equal to the current portfolio duration.
The primary variables impacting the future interest crediting rates of synthetic GICs include the current yield of the assets underlying the contract, the duration of the assets underlying the contract and the existing difference between the fair value and contract value of the assets underlying the contract.
Synthetic GICs generally provide for withdrawals associated with certain events which are not in the ordinary course of Plan operations. These withdrawals are paid with a market value adjustment applied to the withdrawal as defined in the investment contract. Each contract issuer specifies the events which may trigger a market value adjustment. Such events include but are not limited to the following: material amendments to the Plan or in the administration of the Fund; changes to the Plan’s competing investment options including the elimination of equity wash provisions; complete or partial termination of the Plan; the failure of the Plan to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA; the redemption of all or a portion of the interests in the Fund held by the Plan at the direction of the Plan sponsor, including withdrawals due to the removal of a specifically identifiable group of employees from coverage under the Plan (such as a group layoff or early retirement incentive program), the closing or sale of a subsidiary, employing unit or affiliate, the bankruptcy or insolvency of the Plan sponsor, the merger of the Plan with another plan, or the Plan sponsor’s establishment of another tax qualified defined contribution plan; any change in law, regulation, ruling, administrative or judicial position or accounting requirement, applicable to the Fund or the Plan; or the delivery of any communication to Plan participants designed to influence a participant not to invest in the Fund.
At this time, the Plan does not believe that the occurrence of any such market value adjustment-triggering event, which would limit the Plan’s ability to transact at contract value with participants, has occurred or is probable.
If the Plan defaults in its obligations under any synthetic GIC (including the issuer’s determination that the agreement constitutes a non-exempt prohibited transaction as defined under ERISA), and such default is not corrected within the time permitted by the contract, then the contract may be terminated by the issuer and the Plan will receive the fair value of the underlying investments as of the date of termination. With the exception of this circumstance, termination of the contract by the issuer would be settled at contract value.
NOTE 8 — RECONCILIATION OF PLAN FINANCIAL STATEMENTS TO THE FORM 5500
Form 5500 requires the recording of a liability for benefit amounts processed prior to year-end but not yet paid and requires fully benefit-responsive contracts to be reported at fair value. These requirements conflict with U.S. GAAP and the presentation of such amounts in the financial statements where they remain as part of net assets available for benefits and are stated at contract value, respectively.
The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500:
|
| | | | | | | |
| | | |
| December 31, 2018 | | December 31, 2017 |
Net assets available for benefits per the financial statements | $ | 6,220,807,680 |
| | $ | 6,758,606,257 |
|
Benefits due to participants | (532,546) |
| | (1,038,839) |
|
Adjustment to fair value from contract value for fully benefit-responsive investment contracts | (10,417,890) |
| | 4,729,043 |
|
| | | |
Net assets available for benefits per the Form 5500 | $ | 6,209,857,244 |
| | $ | 6,762,296,461 |
|
| | | |
The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500 for the year ended December 31, 2018:
|
| | | |
| |
Benefits paid to participants per the financial statements | $ | 554,792,870 |
|
Add: benefits due but unpaid at December 31, 2018 | 532,546 |
|
Less: benefits due but unpaid at December 31, 2017 | (1,038,839) |
|
| |
Total benefit payments, corrective distributions and deemed distributions per the Form 5500 | $ | 554,286,577 |
|
| |
The following is a reconciliation of investment income per the financial statements to the Form 5500 for the year ended December 31, 2018:
|
| | | | |
| | |
Net change in Plan assets per the financial statements | $ | (537,798,577 | ) |
Adjustment from fair value to contract value for fully benefit-responsive investment contracts at December 31, 2017 | (4,729,043) | |
Adjustment from fair value to contract value for fully benefit-responsive investment contracts at December 31, 2018 | (10,417,890) | |
Benefits due but unpaid at December 31, 2018 | (532,546) | |
Benefits due but unpaid at December 31, 2017 | 1,038,839 | |
| |
Net income and transfers in per the Form 5500 | $ | (552,439,217 | ) |
| |
NOTE 9 - SUBSEQUENT EVENTS
On April 4, 2019, the Company and L3 Technologies, Inc. (“L3”) announced that, at their respective special meetings of stockholders, the Company’s and L3’s stockholders voted to approve all stockholder proposals necessary to complete the merger to create L3Harris Technologies, Inc., as contemplated under the Agreement and Plan of Merger, dated as of October 12, 2018, among the Company, L3 and Leopard Merger Sub Inc. The merger is expected to close in mid-calendar year 2019, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals. The Plan Administrator anticipates that, at some point following completion of the merger, the L3 Technologies Master Savings Plan will be merged with and into the Plan. In such case, the assets of the L3 Technologies Master Savings Plan will be transferred from the trustee of the L3 Technologies Master Savings Plan to the Trustee of the Plan.
SUPPLEMENTAL INFORMATION
Harris Corporation Retirement Plan
E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Year)
December 31, 2018
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| | | | | | | |
Value of Interest in Interest Bearing Cash |
| United States dollar | | 13269796 |
| | | | $ | 13,269,796 |
|
| Total Value of Interest in Interest Bearing Cash | | | | | | $ | 13,269,796 |
|
| | | | | | | |
Value of Interest in Preferred Stocks |
| AIRBNB INC SERIES D CVT PFD STOCK TROWE PRICE ONLY | | 5079 |
| | | | $ | 620,344 |
|
| | | | | | | |
| BECTON DICKINSON & CO DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD SER A | | 47265 |
| | | | 2,725,773 |
|
| | | | | | | |
| DTE ENERGY CO CORPORATE UNIT | | 12887 |
| | | | 665,742 |
|
| | | | | | | |
| NEXTERA ENERGY INC CORPORATE UNIT | | 49642 |
| | | | 2,861,365 |
|
| | | | | | | |
| PVTPL AIRBNB INC SER E CVT PFD STK T-ROWE | | 2468 |
| | | | 229,757 |
|
| | | | | | | |
| PVTPL MAGIC LEAP INC PP SERIES C CVT PFD STOCK T-ROWE PRICE ONLY | | 10325 |
| | | | 237,816 |
|
| | | | | | | |
| PVTPL MAGIC LEAP INC SR D CVT PFD STKT-ROWE PRICE ONLY | | 4837 |
| | | | 130,599 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES INC SER G CVTPFD STK T-ROWE | | 4873 |
| | | | 237,667 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
12
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| PVTPL UBER TECHNOLOGIES SERIES A CVTPFD STOCK T-ROWE PRICE ONLY | | 25 |
| | | | 824 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES SERIES B CVTPFD STOCK T-ROWE PRICE ONLY | | 67 |
| | | | 2,209 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES SERIES C-1 CVT PFD STOCK T-ROWE PRICE ONLY | | 18 |
| | | | 593 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES SERIES C-2 CVT PFD STOCK T-ROWE PRICE ONLY | | 14 |
| | | | 462 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES SERIES D CVTPFD STOCK T-ROWE PRICE ONLY | | 16 |
| | | | 528 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES SERIES E CVTPFD STOCK T-ROWE PRICE ONLY | | 9 |
| | | | 297 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES SERIES G-1 CONVERTIBLE PREFERRED T-ROWE PRICE ONLY | | 39 |
| | | | 1,902 |
|
| | | | | | | |
| PVTPL UBER TECHNOLOGIES SERIES SEED CONVERTIBLE PREFERRED T-ROWE PRICE ONLY | | 64 |
| | | | |
| | | | | | | |
| SEMPRA ENERGY MANDATORY PFD CONV SER B 6.75% | | 5098 |
| | | | 491,651 |
|
| | | | | | | |
| SEMPRA ENERGY PFD CONV SER A | | 17246 |
| | | | 1,640,267 |
|
| | | | | | | |
| UBER TECHNOLOGIES INC SER E PFD STK-TROWE PRICE ONLY | | 8924 |
| | | | 297,326 |
|
| Total Value of Interest in Preferred Stocks | | | | | | $ | 10,147,232 |
|
| | | | | | | |
| Value of Interest in Common Stocks |
| 5TH 3RD BANCORP COM | | 171900 |
| | | | $ | 4,044,807 |
|
| | | | | | | |
| ABIOMED INC COM | | 3700 |
| | | | 1,202,648 |
|
| | | | | | | |
| ACI WORLDWIDE INC COM STK | | 36071 |
| | | | 998,085 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
13
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
| ACTIVISION BLIZZARD INC COM STK | | 91600 |
| | | | 4,265,812 |
|
| | | | | | | |
| ADIENT PLC LTD COM | | 22754 |
| | | | 342,675 |
|
| | | | | | | |
| ADOBE SYS INC COM | | 33600 |
| | | | 7,601,664 |
|
| | | | | | | |
| ADR ALIBABA GROUP HOLDING LTD SPONSORED ADS | | 123379 |
| | | | 16,911,560 |
|
| | | | | | | |
| ADR ASML HLDG NV NY REG 2012 (POST REV SPLIT) | | 10891 |
| | | | 1,694,857 |
|
| | | | | | | |
| ADR GLAXOSMITHKLINE PLC SPONSORED ADR | | 28600 |
| | | | 1,092,806 |
|
| | | | | | | |
| ADR TENCENT HLDGS LTD ADR | | 251091 |
| | | | 9,910,562 |
|
| | | | | | | |
| AERIE PHARMACEUTICALS INC COM | | 9374 |
| | | | 338,401 |
|
| | | | | | | |
| AIR TRANS SVCS GROUP INC COM STK | | 9208 | | | | 210,034 |
| | | | | | | |
| AKZO NOBEL NV EUR2 | | 6774 |
| | | | 545,156 |
|
| | | | | | | |
| ALASKA AIR GROUP INC COM | | 32100 |
| | | | 1,953,285 |
|
| | | | | | | |
| ALBANY INTL CORP NEW CL A | | 48514 |
| | | | 3,028,729 |
|
| | | | | | | |
| ALEXION PHARMACEUTICALS INC COM | | 48841 |
| | | | 4,755,160 |
|
| | | | | | | |
| ALIGN TECHNOLOGY INC COM | | 15300 |
| | | | 3,204,279 |
|
| | | | | | | |
| ALPHABET INC CAPITAL STOCK CL A | | 27115 | | | | 28,334,090 |
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
14
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
| ALPHABET INC CAPITAL STOCK CL C | | 10875 |
| | | | 11,262,259 |
|
| | | | | | | |
| AMAZON INC COM | | 31739 |
| | | | 47,671,026 |
|
| | | | | | | |
| AMEDISYS INC COM | | 7265 |
| | | | 850,804 |
|
| | | | | | | |
| AMERICAN EAGLE OUTFITTERS INC NEW COM | | 31217 |
| | | | 603,425 |
|
| | | | | | | |
| AMERICAN INTERNATIONAL GROUP INC COM | | 99607 |
| | | | 3,925,512 |
|
| | | | | | | |
| AMERICAN WTR WKS CO INC NEW COM | | 22000 |
| | | | 1,996,940 |
|
| | | | | | | |
| AMERICOLD RLTY TR COM | | 31501 |
| | | | 804,536 |
|
| | | | | | | |
| AMERIPRISE FINL INC COM | | 5100 |
| | | | 532,287 |
|
| | | | | | | |
| AMERISAFE INC COM | | 9058 |
| | | | 513,498 |
|
| | | | | | | |
| AMICUS THERAPEUTICS INC COM | | 39494 |
| | | | 378,353 |
|
| | | | | | | |
| AMN HEALTHCARE SVCS INC COM | | 15760 |
| | | | 892,962 |
|
| | | | | | | |
| ANTHEM INC COM | | 45595 |
| | | | 11,974,615 |
|
| | | | | | | |
| APACHE CORP COM | | 47735 |
| | | | 1,253,044 |
|
| | | | | | | |
| APPLE INC COM STK | | 41639 |
| | | | 6,568,136 |
|
| | | | | | | |
| APPLIED MATERIALS INC COM | | 48400 |
| | | | 1,584,616 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
15
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
| APTIV PLC COM USD | | 76823 |
| | | | 4,729,992 |
|
| | | | | | | |
| ARCHER-DANIELS-MIDLAND CO COM | | 37900 |
| | | | 1,552,763 |
|
| | | | | | | |
| ARENA PHAMACEUTICALS INC COM NEW | | 8293 |
| | | | 323,012 |
|
| | | | | | | |
| ARES CAP CORP COM | | 84252 |
| | | | 1,312,646 |
|
| | | | | | | |
| ARRAY BIOPHARMA INC COM | | 37490 |
| | | | 534,233 |
|
| | | | | | | |
| ASGN NCORPORATED COMN STK USD0.01 | | 19491 |
| | | | 1,062,260 |
|
| | | | | | | |
| ASSURANT INC COM | | 20486 |
| | | | 1,832,268 |
|
| | | | | | | |
| AT HOME GROUP INC COM | | 33965 |
| | | | 633,787 |
|
| | | | | | | |
| AT&T INC COM | | 51775 |
| | | | 1,477,659 |
|
| | | | | | | |
| ATLASSIAN CORPORATION PLC COM USD0.1 CL A | | 18600 |
| | | | 1,655,028 |
|
| | | | | | | |
| BANK NEW YORK MELLON CORP COM STK | | 46900 |
| | | | 2,207,583 |
|
| | | | | | | |
| BANK OF AMERICA CORP | | 10064 |
| | | | 247,977 |
|
| | | | | | | |
| BARINGS BDC INC COM | | 89903 |
| | | | 810,026 |
|
| | | | | | | |
| BEACON ROOFING SUPPLY INC COM | | 16004 |
| | | | 507,647 |
|
| | | | | | | |
| BECTON DICKINSON & CO COM | | 44196 |
| | | | 9,958,243 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
16
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| BIOMARIN PHARMACEUTICAL INC COM ISIN CH0008107010 | | 30750 |
| | | | 2,618,363 |
|
| | | | | | | |
| BLOOMIN BRANDS INC COM | | 41727 |
| | | | 746,496 |
|
| | | | | | | |
| BLUEPRINT MEDICINES CORP COM | | 7237 |
| | | | 390,147 |
|
| | | | | | | |
| BOEING CO COM | | 85046 |
| | | | 27,427,335 |
|
| | | | | | | |
| BOINGO WIRELESS INC COM STK | | 30163 |
| | | | 620,453 |
|
| | | | | | | |
| BOISE CASCADE CO COM | | 10647 |
| | | | 253,931 |
|
| | | | | | | |
| BOOKING HLDGS INC COM | | 6485 |
| | | | 11,169,894 |
|
| | | | | | | |
| BRIGHSPHERE INVESTMENT GROUP PLC | | 25732 |
| | | | 274,818 |
|
| | | | | | | |
| BRIGHTHOUSE FINL INC COM | | 53563 |
| | | | 1,632,600 |
|
| | | | | | | |
| BRINKS CO COM | | 14922 |
| | | | 964,707 |
|
| | | | | | | |
| BRISTOL MYERS SQUIBB CO COM | | 39100 |
| | | | 2,032,418 |
|
| | | | | | | |
| CABOT MICROELECTRONICS CORP COM | | 1425 |
| | | | 135,874 |
|
| | | | | | | |
| CACI INTL INC CL A | | 5225 |
| | | | 752,557 |
|
| | | | | | | |
| CARDLYTICS INC COM | | 18821 |
| | | | 203,831 |
|
| | | | | | | |
| CATALENT INC COM | | 11101 |
| | | | 346,129 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
17
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| CENTENE CORP DEL COM | | 22880 |
| | | | 2,638,064 |
|
| | | | | | | |
| CENTRAL PAC FINL CORP COM NEW | | 29730 |
| | | | 723,926 |
|
| | | | | | | |
| CENTURY CASINOS INC COM | | 39899 |
| | | | 294,854 |
|
| | | | | | | |
| CENTURYLINK INC COM | | 38675 |
| | | | 585,926 |
|
| | | | | | | |
| CF INDS HLDGS INC COM | | 71200 |
| | | | 3,097,912 |
|
| | | | | | | |
| CHEESECAKE FACTORY INC COM | | 10728 |
| | | | 466,775 |
|
| | | | | | | |
| CHEVRON CORP COM | | 27778 |
| | | | 3,021,969 |
|
| | | | | | | |
| CHILDRENS PL INC NEW COM | | 8596 |
| | | | 774,414 |
|
| | | | | | | |
| CHUBB LTD ORD CHF24.15 | | 42670 |
| | | | 5,512,111 |
|
| | | | | | | |
| CIGNA CORP NEW COM | | 63155 |
| | | | 11,994,398 |
|
| | | | | | | |
| CIRCOR INTL INC COM | | 14076 |
| | | | 299,819 |
|
| | | | | | | |
| CISCO SYSTEMS INC | | 122000 |
| | | | 5,286,260 |
|
| | | | | | | |
| CITIGROUP INC COM NEW | | 46400 |
| | | | 2,415,584 |
|
| | | | | | | |
| CLOVIS ONCOLOGY INC | | 13569 |
| | | | 243,699 |
|
| | | | | | | |
| COMCAST CORP NEW-CL A | | 101213 |
| | | | 3,446,303 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
18
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| COML METALS CO COM | | 34972 |
| | | | 560,251 |
|
| | | | | | | |
| COMPASS MINERALS INTL INC COM | | 12614 |
| | | | 525,878 |
|
| | | | | | | |
| CONAGRA BRANDS INC COM USD5 | | 72267 |
| | | | 1,543,623 |
|
| | | | | | | |
| CONSOLIDATED TOMOKA LD CO COM STK | | 3433 |
| | | | 180,233 |
|
| | | | | | | |
| CORE-MARK HLDG CO INC COM | | 40862 |
| | | | 950,042 |
|
| | | | | | | |
| CORNERSTONE ONDEMAND INC COM | | 9035 | | | | 455,635 |
| | | | | | | |
| COSTAR GROUP INC COM | | 13617 |
| | | | 4,593,559 |
|
| | | | | | | |
| COTY INC COM CL A | | 59407 |
| | | | 389,710 |
|
| | | | | | | |
| CRA INTL INC COM | | 15539 |
| | | | 661,184 |
|
| | | | | | | |
| CRAY INC COM NEW STK | | 23229 |
| | | | 501,514 |
|
| | | | | | | |
| CTS CORP COM | | 32062 |
| | | | 830,085 |
|
| | | | | | | |
| CURTISS WRIGHT CORP COM | | 8080 |
| | | | 825,130 |
|
| | | | | | | |
| CVS HEALTH CORP COM | | 47727 |
| | | | 3,127,073 |
|
| | | | | | | |
| DANA INC COM | | 53752 |
| | | | 732,640 |
|
| | | | | | | |
| DEL TACO RESTAURANTS INC NEW COM USD0.0001 | | 21613 |
| | | | 215,914 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| DELTA AIR LINES INC DEL COM NEW | | 29300 |
| | | | 1,462,070 |
|
| | | | | | | |
| DENNYS CORP COM | | 93627 |
| | | | 1,517,694 |
|
| | | | | | | |
| DERMIRA INC COM | | 14166 |
| | | | 101,854 |
|
| | | | | | | |
| DESIGNER BRANDS 2W19AW2 04-02-2019 | | 52271 |
| | | | 1,291,094 |
|
| | | | | | | |
| DICKS SPORTING GOODS INC OC-OM | | 23465 |
| | | | 732,108 |
|
| | | | | | | |
| DOLLAR GEN CORP NEW COM | | 50700 |
| | | | 5,479,656 |
|
| | | | | | | |
| DOWDUPONT INC COM USD0.01 | | 127890 |
| | | | 6,839,557 |
|
| | | | | | | |
| DRIL-QUIP INC COM | | 7505 |
| | | | 225,375 |
|
| | | | | | | |
| DUKE ENERGY CORP NEW COM | | 21800 |
| | | | 1,881,340 |
|
| | | | | | | |
| EAGLE MATLS INC | | 19641 |
| | | | 1,198,690 |
|
| | | | | | | |
| EASTGROUP PPTYS INC REIT | | 11864 |
| | | | 1,088,285 |
|
| | | | | | | |
| ECHOSTAR CORPORATION | | 67231 |
| | | | 2,468,722 |
|
| | | | | | | |
| EDISON INTL COM | | 38867 |
| | | | 2,206,480 |
|
| | | | | | | |
| EDWARDS LIFESCIENCES CORP COM | | 36100 |
| | | | 5,529,437 |
|
| | | | | | | |
| ELDORADO RESORTS INC COM USD0.00001 | | 21510 |
| | | | 778,877 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| ELI LILLY & CO COM | | 39500 |
| | | | 4,570,940 |
|
| | | | | | | |
| EMCOR GROUP INC COM | | 15382 |
| | | | 918,152 |
|
| | | | | | | |
| EMERGENT BIOSOLUTIONS INC COM | | 6856 |
| | | | 406,424 |
|
| | | | | | | |
| EMERSON ELECTRIC CO COM | | 30800 |
| | | | 1,840,300 |
|
| | | | | | | |
| ENPRO INDS INC COM | | 11662 |
| | | | 700,886 |
|
| | | | | | | |
| ENTEGRIS INC COM | | 39312 |
| | | | 1,096,608 |
|
| | | | | | | |
| ENVESTNET INC COM STK | | 20818 |
| | | | 1,024,037 |
|
| | | | | | | |
| EPIZYME INC COM | | 25455 |
| | | | 156,803 |
|
| | | | | | | |
| EQT CORP COM | | 9380 |
| | | | 177,188 |
|
| | | | | | | |
| EQTY RESDNTL EFF 5/15/02 | | 44800 |
| | | | 2,957,248 |
|
| | | | | | | |
| EQUITRANS MIDSTREAM CORP COM NPV WI | | 18564 |
| | | | 371,651 |
|
| | | | | | | |
| ESSENIAL PROPERTIES REALTY TR INC USD0.01 | | 108545 |
| | | | 1,502,263 |
|
| | | | | | | |
| ETSY INC | | 16785 |
| | | | 798,462 |
|
| | | | | | | |
| EVERBRIDGE INC COM | | 6659 |
| | | | 377,965 |
|
| | | | | | | |
| EVERGY INC COM NPV | | 28700 |
| | | | 1,629,299 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| EVO PMTS INC CL A COM | | 32116 |
| | | | 792,302 |
|
| | | | | | | |
| EXLSERVICE COM INC COM STK | | 16999 |
| | | | 894,487 |
|
| | | | | | | |
| EXTENDED STAY AMER INC PAIRED SHS COMPRISED 1 COM 1 CL B COM | | 192075 |
| | | | 2,977,163 |
|
| | | | | | | |
| EXXON MOBIL CORP COM | | 112926 |
| | | | 7,700,424 |
|
| | | | | | | |
| FACEBOOK INC COM USD0.000006 CL ‘A’ | | 152198 |
| | | | 19,951,636 |
|
| | | | | | | |
| FEDERAL SIGNAL CORP COM | | 47218 |
| | | | 939,638 |
|
| | | | | | | |
| FIBROGEN INC COM | | 10626 |
| | | | 491,771 |
|
| | | | | | | |
| FIDELITY NATL INFORMATION SVCS INC COM STK | | 14192 |
| | | | 1,455,390 |
|
| | | | | | | |
| FIRSTCASH INC COM | | 12874 |
| | | | 931,434 |
|
| | | | | | | |
| FIVE BELOW INC COM USD0.01 | | 8627 |
| | | | 882,715 |
|
| | | | | | | |
| FLOOR & DECOR HLDGS INC CL A | | 79400 |
| | | | 2,056,460 |
|
| | | | | | | |
| FLOWSERVE CORP COM | | 5248 |
| | | | 199,529 |
|
| | | | | | | |
| FORTIVE CORP COMMON STOCK | | 26442 |
| | | | 1,789,066 |
|
| | | | | | | |
| FRKLN RES INC COM | | 93432 |
| | | | 2,771,193 |
|
| | | | | | | |
| GI THERAPEUTICS IN COM | | 4447 |
| | | | 85,160 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
22
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| GCI LIBERTY INC COM NPV CL A | | 32179 |
| | | | 1,324,488 |
|
| | | | | | | |
| GENERAC HLDGS INC CO STK | | 20127 |
| | | | 1,000,312 |
|
| | | | | | | |
| GENERAL HLDGS INC COM STK | | 20127 |
| | | | 1,000,312 |
|
| | | | | | | |
| GENERAL ELECTRIC CO | | 241200 |
| | | | 1,825,884 |
|
| | | | | | | |
| GILEAD SCIENCES INC | | 61500 |
| | | | 3,846,825 |
|
| | | | | | | |
| GLAXOSMITHKLINE ORD GBP0.25 | | 112977 |
| | | | 2,145,651 |
|
| | | | | | | |
| GLOBAL BLOOD THERAPEUTICS INC COM | | 9350 |
| | | | 383,818 |
|
| | | | | | | |
| GLOBAL PMTS INC COM | | 44328 |
| | | | 4,571,547 |
|
| | | | | | | |
| GRANITE CONST INC COM | | 16969 |
| | | | 683,511 |
|
| | | | | | | |
| GREIF INC | | 7255 |
| | | | 269,233 |
|
| | | | | | | |
| *HARRIS CORP. COMMON STOCK 1 PAR | | 2119111 |
| | | | 285,338,296 |
|
| | | | | | | |
| HCA HEALTHCARE INC COM | | 55335 |
| | | | 6,886,441 |
|
| | | | | | | |
| HEALTHCARE SVCS GROUP INC COM | | 22965 |
| | | | 922,734 |
|
| | | | | | | |
| HEALTHEQUITY INC COM | | 10710 |
| | | | 638,852 |
|
| | | | | | | |
| HESS CORP COM STK | | 62900 |
| | | | 2,547,450 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
23
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| HEWLETT PACKARD ENTERPRISE CO COM | | 43400 |
| | | | 573,314 |
|
| | | | | | | |
| HILL-ROM HLDGS INC COM STK | | 8379 |
| | | | 741,960 |
|
| | | | | | | |
| HILTON WORLDWIDE HLDGS INC COM NEW | | 60240 |
| | | | 4,325,232 |
|
| | | | | | | |
| HOME BANCSHARES INC COM | | 46350 |
| | | | 757,359 |
|
| | | | | | | |
| HONEYWELL INTL INC COM STK | | 15864 |
| | | | 2,095,952 |
|
| | | | | | | |
| HOULIHAN LOKEY INC CL A CLA | | 20158 |
| | | | 741,814 |
|
| | | | | | | |
| HOWARD BANCORP INC COM | | 25131 |
| | | | 359,373 |
|
| | | | | | | |
| HUB GROUP INC CL A | | 19386 |
| | | | 718,639 |
|
| | | | | | | |
| HUBSPOT INC COM | | 4995 |
| | | | 628,021 |
|
| | | | | | | |
| HUDSON LTD | | 106031 |
| | | | 1,818,432 |
|
| | | | | | | |
| HUDSON PACIFIC PROPERTIES INC COM | | 14521 |
| | | | 421,980 |
|
| | | | | | | |
| HUMANA INC COM | | 11725 |
| | | | 3,358,978 |
|
| | | | | | | |
| IAC / INTERACTIVECORP COM PAR $.001 STK | | 10900 |
| | | | 1,995,136 |
|
| | | | | | | |
| ILL TOOL WKS INC COM | | 3507 |
| | | | 444,302 |
|
| | | | | | | |
| ILLUMINA INC COM | | 18550 |
| | | | 5,563,702 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
24
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| IMMUNOGEN INC COM | | 40491 |
| | | | 194,357 |
|
| | | | | | | |
| IMMUNOMEDICS INC COM | | 25707 |
| | | | 366,839 |
|
| | | | | | | |
| INSMED INC COM PAR $.01 | | 23680 |
| | | | 310,682 |
|
| | | | | | | |
| INTEGRATED DEVICE CASH MERGER 04-01-2019 | | 3552 |
| | | | 172,023 |
|
| | | | | | | |
| INTERCEPT PHARMACEUTICALS INC COM | | 2604 |
| | | | 262,457 |
|
| | | | | | | |
| INTERCONTINENTAL EXCHANGE INC COM | | 52550 |
| | | | 3,958,592 |
|
| | | | | | | |
| INTL PAPER CO COM | | 71396 |
| | | | 2,881,543 |
|
| | | | | | | |
| INTUIT COM | | 37016 |
| | | | 7,286,600 |
|
| | | | | | | |
| INTUITIVE SURGICAL INC COM NEW STK | | 20198 |
| | | | 9,673,226 |
|
| | | | | | | |
| IROBOT CORP COM | | 8772 |
| | | | 734,567 |
|
| | | | | | | |
| J2 GLOBAL INC COM | | 17574 |
| | | | 1,219,284 |
|
| | | | | | | |
| JACK IN THE BOX INC COM | | 6412 |
| | | | 497,764 |
|
| | | | | | | |
| JOHN BEAN TECHNOLOGIES CORP COM STK | | 11254 |
| | | | 808,150 |
|
| | | | | | | |
| JOHNSON & JOHNSON COM USD1 | | 50700 |
| | | | 6,542,835 |
|
| | | | | | | |
| JOHNSON CTLS INTL PLC COM USD0.01 | | 151581 |
| | | | 4,494,377 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
25
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| JPMORGAN CHASE & CO COM | | 111124 |
| | | | 10,847,925 |
|
| | | | | | | |
| KADANT INC COM | | 18806 |
| | | | 1,531,937 |
|
| | | | | | | |
| KELLOGG CO COM USD0.25 | | 11900 |
| | | | 678,419 |
|
| | | | | | | |
| KEMPER CORP DEL COM | | 11284 |
| | | | 749,032 |
|
| | | | | | | |
| KEYCORP NEW COM | | 72435 |
| | | | 1,070,589 |
|
| | | | | | | |
| KIMBERLY-CLARK CORP COM | | 47200 |
| | | | 5,377,968 |
|
| | | | | | | |
| KOHLS CORP COM | | 24700 |
| | | | 1,638,598 |
|
| | | | | | | |
| KORN FERRY COM | | 5306 |
| | | | 209,799 |
|
| | | | | | | |
| KS CY SOUTHN | | 20041 |
| | | | 1,912,913 |
|
| | | | | | | |
| L BRANDS INC COM | | 50200 |
| | | | 1,288,634 |
|
| | | | | | | |
| LAS VEGAS SANDS CORP COM STK | | 103954 |
| | | | 5,410,806 |
|
| | | | | | | |
| LIFETIME BRANDS INC COM | | 17683 |
| | | | 177,360 |
|
| | | | | | | |
| LIGAND PHARMACEUTICALS INCORPORATED CL BCOMMON STOCK | | 3439 |
| | | | 466,672 |
|
| | | | | | | |
| LINDSAY CORPORATION COM | | 5254 |
| | | | 505,698 |
|
| | | | | | | |
| LIVANOVA PLC ORD GBP1.00 (DI) | | 5234 |
| | | | 478,754 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
26
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| LOEWS CORP COM | | 79742 |
| | | | 3,629,856 |
|
| | | | | | | |
| LORAL SPACE & COMMUNICATIONS INC COM | | 27496 |
| | | | 1,024,226 |
|
| | | | | | | |
| LOXO ONCOLOGY CASH MERGER 02-19-2019 | | 18271 |
| | | | 2,559,219 |
|
| | | | | | | |
| LUMENTUM HLDGS INC COM | | 19214 |
| | | | 807,180 |
|
| | | | | | | |
| LYDALL INC COM | | 6711 |
| | | | 136,300 |
|
| | | | | | | |
| MACROGENICS INC COM | | 3669 |
| | | | 46,596 |
|
| | | | | | | |
| MAGELLAN HEALTH INC COM NEW | | 14701 |
| | | | 836,340 |
|
| | | | | | | |
| MARRIOTT VACATIONS WORLDWIDE CORP COM | | 6670 |
| | | | 470,302 |
|
| | | | | | | |
| MARSH & MCLENNAN CO’S INC COM | | 16200 |
| | | | 1,291,950 |
|
| | | | | | | |
| MATCH GROUP INC COM | | 68200 |
| | | | 2,916,914 |
|
| | | | | | | |
| MATTEL INC COM STOCK 1.00 PAR | | 127700 |
| | | | 1,275,723 |
|
| | | | | | | |
| MATTHEWS INTL CORP CL A | | 13047 |
| | | | 529,969 |
|
| | | | | | | |
| MAXIM INTEGRATED PRODS INC COM | | 42732 |
| | | | 2,172,922 |
|
| | | | | | | |
| MAXIMUS INC COM | | 28467 |
| | | | 1,852,917 |
|
| | | | | | | |
| MB FINL INC CASH AND STOCK MERGER 2320433 FIFTH THIRD 03-22-2019 | | 17024 |
| | | | 674,661 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
27
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| MC DONALDS CORP COM | | 15202 |
| | | | 2,699,419 |
|
| | | | | | | |
| MCGRATH RENTCORP COM | | 38831 |
| | | | 1,999,020 |
|
| | | | | | | |
| MEDIDATA SOLUTIONS INC COM | | 16215 |
| | | | 1,093,215 |
|
| | | | | | | |
| MEDPACE HLDGS INC COM | | 13158 |
| | | | 696,453 |
|
| | | | | | | |
| MEDTRONIC PLC COMMON STOCK | | 50809 |
| | | | 4,621,587 |
|
| | | | | | | |
| MERCK & CO INC NEW COM | | 56700 |
| | | | 4,332,447 |
|
| | | | | | | |
| MERIT MED SYS INC COM | | 20050 |
| | | | 1,118,991 |
|
| | | | | | | |
| METLIFE INC COM STK USD0.01 | | 106100 |
| | | | 4,356,466 |
|
| | | | | | | |
| MFA FINL INC | | 216823 |
| | | | 1,448,378 |
|
| | | | | | | |
| MGIC INVT CORP WIS COM | | 32413 |
| | | | 339,040 |
|
| | | | | | | |
| MICROSOFT CORP COM | | 333614 |
| | | | 33,839,467 |
|
| | | | | | | |
| MINERALS TECHNOLOGIES INC COM | | 12254 |
| | | | 629,120 |
|
| | | | | | | |
| MLP STAR GROUP L P | | 69370 |
| | | | 647,916 |
|
| | | | | | | |
| MOELIS & CO CL A | | 21256 |
| | | | 730,781 |
|
| | | | | | | |
| MONSTER BEVERAGE CORP NEW COM | | 95650 |
| | | | 4,707,893 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
28
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| MORGAN STANLEY COM STK USD0.01 | | 203933 |
| | | | 8,085,943 |
|
| | | | | | | |
| MRC GLOBAL INC COM | | 127046 |
| | | | 1,553,773 |
|
| | | | | | | |
| MUELLER WTR PRODS INC COM SER A STK | | 138207 |
| | | | 1,257,684 |
|
| | | | | | | |
| MURPHY USA INC COM | | 19652 |
| | | | 1,506,129 |
|
| | | | | | | |
| NATIONAL BK HLDGS CORP CL A COM STK | | 39438 |
| | | | 1,217,451 |
|
| | | | | | | |
| NATIONAL GEN HLDGS CORP COM | | 65739 |
| | | | 1,591,541 |
|
| | | | | | | |
| NATIONAL VISION HLDGS IN COM | | 16239 |
| | | | 457,453 |
|
| | | | | | | |
| NATURAL GAS SVCS GROUP INC COM | | 10784 |
| | | | 177,289 |
|
| | | | | | | |
| NEENAH INC COM USD0.01 | | 5473 |
| | | | 322,469 |
|
| | | | | | | |
| NETFLIX INC COM STK | | 49644 |
| | | | 13,287,713 |
|
| | | | | | | |
| NEWS CORP COM CL A | | 194509 |
| | | | 2,207,677 |
|
| | | | | | | |
| NEXSTAR MEDIA GROUP INC CL A | | 32447 |
| | | | 2,551,632 |
|
| | | | | | | |
| NIELSEN HOLDINGS PLC COMSTK | | 127952 |
| | | | 2,985,120 |
|
| | | | | | | |
| NIKE INC CL B | | 53500 |
| | | | 3,966,490 |
|
| | | | | | | |
| NISOURCE INC COM | | 183260 |
| | | | 4,645,641 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
29
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| NORTHERN TR CORP COM | | 11100 |
| | | | 927,849 |
|
| | | | | | | |
| NORTHROP GRUMMAN CORP COM | | 33740 |
| | | | 8,262,926 |
|
| | | | | | | |
| NUCOR CORP COM | | 17800 |
| | | | 922,218 |
|
| | | | | | | |
| NVENT ELECTRIC PLC COM USD0.01 WI | | 26900 |
| | | | 604,174 |
|
| | | | | | | |
| NXP SEMICONDUCTORS N V COM STK | | 7700 |
| | | | 564,256 |
|
| | | | | | | |
| OCCIDENTAL PETROLEUM CORP | | 50900 |
| | | | 3,124,242 |
|
| | | | | | | |
| OCEANFIRST FINL CORP COM | | 56952 |
| | | | 1,281,990 |
|
| | | | | | | |
| OLLIES BARGAIN OUTLET HLDGS INC COM | | 13522 |
| | | | 899,348 |
|
| | | | | | | |
| OMNICELL INC COM | | 14402 |
| | | | 881,978 |
|
| | | | | | | |
| PAC PREMIER BANCORP COM | | 54227 |
| | | | 1,383,873 |
|
| | | | | | | |
| PACCAR INC COM | | 15000 |
| | | | 857,100 |
|
| | | | | | | |
| PALO ALTO NETWORKS INC COM USD0.0001 | | 21600 |
| | | | 4,068,360 |
|
| | | | | | | |
| PAYLOCITY HLDG CORP COM | | 12987 |
| | | | 781,947 |
|
| | | | | | | |
| PAYPAL HLDGS INC COM | | 68516 |
| | | | 5,761,510 |
|
| | | | | | | |
| PEAPACK-GLADSTONE FINL CORP COM | | 3572 |
| | | | 89,943 |
|
See Report of Independent Registered Certified Public Accounting Firm
30
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| PENTAIR PLC COM STK | | 20400 |
| | | | 770,712 |
|
| | | | | | | |
| PEPSICO INC COM | | 14200 |
| | | | 1,568,816 |
|
| | | | | | | |
| PERFORMANCE FOOD GROUP CO COM | | 28232 |
| | | | 911,047 |
|
| | | | | | | |
| PETIQ INC COM CL A | | 7521 |
| | | | 176,518 |
|
| | | | | | | |
| PFIZER INC COM | | 155547 |
| | | | 6,789,627 |
|
| | | | | | | |
| PG& E CORP COM | | 51168 |
| | | | 1,215,240 |
|
| | | | | | | |
| PHILIP MORRIS INTL COM STK NPV | | 112884 |
| | | | 7,536,136 |
|
| | | | | | | |
| PLANET FITNESS INC CL A | | 13501 |
| | | | 723,924 |
|
| | | | | | | |
| PNC FINANCIAL SERVICES GROUP COM STK | | 26800 |
| | | | 3,133,188 |
|
| | | | | | | |
| POLYONE CORP COM | | 24219 |
| | | | 692,663 |
|
| | | | | | | |
| POTLATCHDELTIC CORPORATION | | 40408 |
| | | | 1,278,509 |
|
| | | | | | | |
| PPG IND INC COM | | 3800 |
| | | | 388,474 |
|
| | | | | | | |
| PRIMERICA INC COM | | 23878 |
| | | | 2,333,119 |
|
| | | | | | | |
| PROVIDENCE SVC CORP COM STK | | 23965 |
| | | | 1,438,379 |
|
| | | | | | | |
| PUMA BIOTECHNOLOGY INC COM | | 14140 |
| | | | 287,749 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
31
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| PVTPL & UBER TECHNOLOGIES IN CLASS A COMMON STOCK T-ROWE PRICE ONLY | | 176 |
| | | | 5,803 |
|
| | | | | | | |
| PVTPL CYMABAY THERAPEUTICS INC COM | | 27439 |
| | | | 215,945 |
|
| | | | | | | |
| Q2 HLDGS INC COM | | 15840 |
| | | | 784,872 |
|
| | | | | | | |
| QUALCOMM INC COM | | 108100 |
| | | | 6,151,971 |
|
| | | | | | | |
| RAPID7 INC COM | | 10346 |
| | | | 322,381 |
|
| | | | | | | |
| RAYONIER INC REIT | | 66589 |
| | | | 1,843,849 |
|
| | | | | | | |
| RED HAT INC COM | | 52718 |
| | | | 9,259,390 |
|
| | | | | | | |
| REGAL BELOIT CORP COM | | 10007 |
| | | | 700,900 |
|
| | | | | | | |
| REGENERON PHARMACEUTICALS INC COM | | 9250 |
| | | | 3,454,875 |
|
| | | | | | | |
| REGENXBIO INC COM | | 6503 |
| | | | 272,801 |
|
| | | | | | | |
| REGIS CORP MINN COM | | 98777 |
| | | | 1,674,270 |
|
| | | | | | | |
| RENASANT CORP COM | | 14738 |
| | | | 444,793 |
|
| | | | | | | |
| RESTAURANT BRANDS INTL INC COM NPV | | 52487 |
| | | | 2,745,070 |
|
| | | | | | | |
| REX AMERICAN RESOURCES CORP | | 11173 |
| | | | 760,993 |
|
| | | | | | | |
| RIVIERA RES INC | | 96030 |
| | | | 1,517,274 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
32
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| ROAN RESOURCES INC COM USD0.001 CL A | | 95959 |
| | | | 804,136 |
|
| | | | | | | |
| ROSS STORES INC COM | | 59150 |
| | | | 4,921,280 |
|
| | | | | | | |
| S.W. AIRL CO COM | | 25400 |
| | | | 1,180,592 |
|
| | | | | | | |
| SAIA INC COM STK | | 12529 |
| | | | 699,369 |
|
| | | | | | | |
| SALESFORCE COM INC COM STK | | 112451 |
| | | | 15,402,413 |
|
| | | | | | | |
| SAREPTA THERAPEUTICS INC COM | | 15100 |
| | | | 1,647,863 |
|
| | | | | | | |
| SCHWAB CHARLES CORP COM NEW | | 173321 |
| | | | 7,198,021 |
|
| | | | | | | |
| SELECT MED HLDGS CORP COM | | 52337 |
| | | | 803,373 |
|
| | | | | | | |
| SEMPRA ENERGY INC COM STK | | 34002 |
| | | | 3,678,676 |
|
| | | | | | | |
| SEMTECH CORP COM | | 16763 |
| | | | 768,919 |
|
| | | | | | | |
| SERVICENOW INC | | 76313 |
| | | | 13,587,530 |
|
| | | | | | | |
| SIMPSON MFG INC COM | | 56771 |
| | | | 3,073,014 |
|
| | | | | | | |
| SL GREEN RLTY CORP COM STK | | 22317 |
| | | | 1,764,828 |
|
| | | | | | | |
| SMART GLOBAL HOLDINGS INC COMN STOCK | | 21530 |
| | | | 639,441 |
|
| | | | | | | |
| SOTHEBYS HLDGS INC CL A (DE) | | 16432 |
| | | | 653,008 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
33
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| SOUTHERN CO COM STK | | 147964 |
| | | | 6,498,579 |
|
| | | | | | | |
| SPECTRUM BRANDS HLDGS INC COM USD0.01 | | 30233 |
| | | | 1,277,344 |
|
| | | | | | | |
| SPECTRUM PHARMACEUTICALS INC COM | | 27743 |
| | | | 242,751 |
|
| | | | | | | |
| SPIRIT AEROSYSTEMS HLDGS INC CL A | | 30504 |
| | | | 2,199,033 |
|
| | | | | | | |
| SPLUNK INC COMSTK COM USD0.001 | | 66350 |
| | | | 6,956,798 |
|
| | | | | | | |
| STAMPS COM INC COM NEW | | 5247 |
| | | | 816,643 |
|
| | | | | | | |
| STATE STR CORP COM | | 62749 |
| | | | 3,957,579 |
|
| | | | | | | |
| STERICYCLE INC COM | | 36002 |
| | | | 1,320,913 |
|
| | | | | | | |
| STRYKER CORP | | 57721 |
| | | | 9,047,767 |
|
| | | | | | | |
| SUPERNUS PHARMACEUTICALS INC COM STK | | 11280 |
| | | | 374,722 |
|
| | | | | | | |
| TCF FNCL CORP COM | | 39028 |
| | | | 760,656 |
|
| | | | | | | |
| TD AMERITRADE HLDG CORP COM STK | | 63492 |
| | | | 3,108,568 |
|
| | | | | | | |
| TE CONNECTIVITY LTD | | 7100 |
| | | | 536,973 |
|
| | | | | | | |
| TELADOC HEALTH INC | | 17315 |
| | | | 858,305 |
|
| | | | | | | |
| TELEFONICA SA EURI | | 232097 |
| | | | 1,947,196 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
34
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| TENNANT CO COM | | 5162 |
| | | | 268,992 |
|
| | | | | | | |
| TESLA INC COM USD0.001 | | 15778 |
| | | | 5,250,918 |
|
| | | | | | | |
| TEXAS INSTRUMENTS INC COM | | 24300 |
| | | | 2,296,350 |
|
| | | | | | | |
| TFS FINL CORP COM STK | | 71643 |
| | | | 1,155,602 |
|
| | | | | | | |
| THE TRADE DESK INC COM CL A | | 4806 |
| | | | 557,784 |
|
| | | | | | | |
| THERAPEUTICSMD INC COM | | 58294 |
| | | | 222,100 |
|
| | | | | | | |
| TILE SHOP HLDGS INC COM | | 41045 |
| | | | 224,927 |
|
| | | | | | | |
| TOPBUILD CORP COM | | 11238 |
| | | | 505,710 |
|
| | | | | | | |
| TOTAL EUR2.5 | | 126952 |
| | | | 6,701,881 |
|
| | | | | | | |
| TRANSCANADA CORP COM STK | | 124200 |
| | | | 4,433,940 |
|
| | | | | | | |
| TRISTATE CAP HLDGS INC COM | | 34353 |
| | | | 668,509 |
|
| | | | | | | |
| TRIUMPH BANCORP INC COM | | 26534 |
| | | | 788,060 |
|
| | | | | | | |
| TWENTY-FIRST MANDATORY EX 2W1KA52 TWENTY-FIRST CENTU 03-19-19 | | 165100 |
| | | | 7,888,478 |
|
| | | | | | | |
| TYSON FOODS INC CL A COM (DELAWARE) | | 75000 |
| | | | 4,005,000 |
|
| | | | | | | |
| U S SILICA HLDGS INC | | 19006 |
| | | | 193,481 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
35
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| ULTRAGENYX PHARMACEUTICAL INC COM | | 4478 |
| | | | 194,703 |
|
| | | | | | | |
| UNIT CORP COM | | 19817 |
| | | | 282,987 |
|
| | | | | | | |
| UNITED CMNTY BK BLAIRSVILLE GA COM | | 31609 |
| | | | 678,329 |
|
| | | | | | | |
| UNITED PARCEL SVC INC CL B | | 42100 |
| | | | 4,106,013 |
|
| | | | | | | |
| UNITEDHEALTH GROUP INC COM | | 52284 |
| | | | 13,024,990 |
|
| | | | | | | |
| URBAN EDGE PPTYS COM | | 27443 |
| | | | 456,103 |
|
| | | | | | | |
| US BANCORP | | 98660 |
| | | | 4,506,020 |
|
| | | | | | | |
| VERIZON COMMUNICATIONS COM | | 126331 |
| | | | 7,092,531 |
|
| | | | | | | |
| VERTEX PHARMACEUTICALS INC COM | | 42745 |
| | | | 7,083,274 |
|
| | | | | | | |
| VIA VI SOLUTIONS INC COM NPV | | 41913 |
| | | | 421,226 |
|
| | | | | | | |
| VIRTUS INVT PARTNERS INC COM | | 19312 |
| | | | 1,533,592 |
|
| | | | | | | |
| VISA INC COM CL A STK | | 242866 |
| | | | 32,043,740 |
|
| | | | | | | |
| VMWARE INC CL A COM | | 48160 |
| | | | 6,604,181 |
|
| | | | | | | |
| VONAGE HLDGS CORP COM | | 91011 |
| | | | 794,526 |
|
| | | | | | | |
| VULCAN MATERIALS CO COM | | 15700 |
| | | | 1,551,160 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
36
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| WADDELL & REED FINL INC CL A COM | | 43200 |
| | | | 781,056 |
|
| | | | | | | |
| WALMART INC COM | | 38300 |
| | | | 3,567,645 |
|
| | | | | | | |
| WALT DISNEY CO | | 10700 |
| | | | 1,173,255 |
|
| | | | | | | |
| WASH FED INC COM | | 61653 |
| | | | 1,646,752 |
|
| | | | | | | |
| WASTE CONNECTIONS INC COM | | 45500 |
| | | | 3,378,375 |
|
| | | | | | | |
| WATTS WTR TECHNOLOGIES INC | | 12784 |
| | | | 824,952 |
|
| | | | | | | |
| WEIGHT WATCHERS INTL INC NEW COM | | 13799 |
| | | | 531,951 |
|
| | | | | | | |
| WELLCARE HLTH PLANS INC COM | | 9870 |
| | | | 2,330,208 |
|
| | | | | | | |
| WELLS FARGO & CO NEW COM STK | | 224780 |
| | | | 10,357,862 |
|
| | | | | | | |
| WESBANCO INC COM | | 9878 |
| | | | 362,424 |
|
| | | | | | | |
| WESTN DIGITAL CORP COM | | 14000 |
| | | | 517,580 |
|
| | | | | | | |
| WEYERHAEUSER CO COM | | 85659 |
| | | | 1,872,506 |
|
| | | | | | | |
| WILLIS TOWERS WATSON PLC COM USD0.000115 | | 12058 |
| | | | 1,831,128 |
|
| | | | | | | |
| WOODWARD INC COM | | 16220 |
| | | | 1,204,984 |
|
| | | | | | | |
| WORKDAY INC CL A COM USD0.001 | | 42484 |
| | | | 6,783,845 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
37
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| WORTHINGTON INDS INC COM | | 16047 |
| | | | 559,077 |
|
| | | | | | | |
| WRIGHT MEDICAL GROUP NV EUR0.03 | | 38497 |
| | | | 1,047,888 |
|
| | | | | | | |
| XENIA HOTELS & RESORTS INC COM | | 56183 |
| | | | 966,348 |
|
| | | | | | | |
| YETI HLDGS INC COM | | 11284 |
| | | | 167,455 |
|
| | | | | | | |
| ZIMMER BIOMET HLDGS INC COM | | 3000 |
| | | | 311,160 |
|
| | | | | | | |
| ZOGENIX INC COM NEW | | 9257 |
| | | | 337,500 |
|
| | | | | | | |
| Total Value of Interest in Common Stocks | | | | | | $ | 1,294,021,719 |
|
| Value of Interest in Registered Investment Companies |
| MFC ISHARES TR RUSSELL 2000 GROWTH ETF | | 7849 |
| | | | $ | 1,318,632 |
|
| | | | | | | |
| MFO RESERVE INVT FDS INC T ROWE PRICE GOVT RESERVE FD | | 3034108 |
| | | | 3,034,108 |
|
| | | | | | | |
| Total Value of Interest in Registered Investment Companies | | | | | | $ | 4,352,740 |
|
| Value of Interest in Common/Collective Trust Funds |
| *MFB NT COLLECTIVE AGGREGATE BOND INDEX FUND - NON LENDING | | 1378876 |
| | | | 193,704,488 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH 2060 NL F | | 836280 |
| | | | 9,931,163 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX 2020 NL FUND F | | 19532982 |
| | | | 421,369,401 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX 2030 NL FUND F | | 15099719 |
| | | | 368,498,061 |
|
| | | | | | | |
See Report of Independent Registered Certified Public Accounting Firm
38
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| MFO BLACKROCK LIFEPATH INDEX 2040 NL FUND F | | 6048792 |
| | | | 162,525,597 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX 2050 NL FUND F | | 3325113 |
| | | | 96,004,334 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX 2055 NON LENDING FD F | | 1614046 |
| | | | 33,679,171 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX RETIREMENT 2025 NL CL F | | 24601097 |
| | | | 568,073,768 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX RETIREMENT 2035 NL CL F | | 8434700 |
| | | | 216,736,362 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX RETIREMENT 2045 NL CL F | | 5169337 |
| | | | 144,406,985 |
|
| | | | | | | |
| MFO BLACKROCK LIFEPATH INDEX RETIREMENT NL CL F | | 20145849 |
| | | | 379,342,304 |
|
| | | | | | | |
| MFO BLACKROCK STRATEGIC COMPLETION NL FUND F | | 689504 |
| | | | 7,309,364 |
|
| | | | | | | |
| MFO PRIN GL INVS COLTV INVT TR DIV INTL EQ FD 50 BP FEE CL TIER III 742538101 | 821052 |
| | | | 192,610,680 |
|
| | | | | | | |
| *NT COLLECTIVE EXTENDED EQUITY INDEX FD -NONLENDING | | 834755 |
| | | | 239,567,863 |
|
| | | | | | | |
| *NT COLLECTIVE S&P500 INDEX FUND-DC-NON LENDING (TIER J) | | 66635 |
| | | | 583,266,636 |
|
| | | | | | | |
| *NTGI COLTV GOVT STIF REGISTERED | | 7898705 |
| | | | 7,898,705 |
|
| | | | | | | |
| WELLS FARGO BLACKROCK STIF S | | 77569815 |
| | | | 77,708,131 |
|
| Total Value of Interest in Common/Collective Trust Funds | | | | | | $ | 3,702,633,013 |
|
| | | | | | | |
| Fair Value of Interest in Synthetic Security-Backed Investment Contracts |
| American General Life Ins. Co., #1629650 | | | | | | $ | 200,407,779 |
|
See Report of Independent Registered Certified Public Accounting Firm
39
|
| | | | | | | | | | |
(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 (In Shares/Par Value Except Notes Receivable from Participants) | |
(d) Cost | |
(e) Value |
|
| Pacific Life Ins. Co., #G-27236.01.0001 | | | | | | 235,173,854 |
|
| | | | | | | |
| Prudential Life Ins. Co., #GA-62487 | | | | | | 204,407,390 |
|
| | | | | | | |
| State Street Bank and Trust, #105004 | | | | | | 209,150,734 |
|
| | | | | | | |
| Transamerica Premier Life Ins. Co., #MDA01077TR | | | | | | 232,609,451 |
|
| Total Fair Value of Interest in Synthetic Security-Backed Investment Contracts | | | | | | $ | 1,081,749,208 |
|
| | | | | | | |
| Value of Interest in Corporate Bonds & Debentures |
| AXA SA 7.25% 05-15-2021 | | 682000 |
| | | | $ | 594,657 |
|
| PVTPL MATTEL INC 144A 6.75% 31-2025 | | 1287000 |
| | | | 1,148,248 |
|
| Total Value of Interest in Corporate Bonds & Debentures | | | | | | $ | 1,742,905 |
|
| Value of Interest in Partnerships |
| MLP LANDMARK INFRASTRUCTURE PARTNERS LP COM UNIT LTD PARTNER INT | | 23026 |
| | | | $ | 265,490 |
|
| Total Value of Interest in Partnerships | | | | | | $ | 265,490 |
|
| Value of Interest in Notes Receivable from Participants |
| *PARTICIPANT LOAN ASSET-HARRIS CORP. (4.25% to 9.25%) | | | | | | $ | 54,967,712 |
|
| Total Value of Interest in Notes Receivable from Participants | | | | | | $ | 54,967,712 |
|
| Value of Interest in Brokerage Window Account |
| BROKERAGE WINDOW ACCOUNT | | 1 |
| | | | $ | 37,088,717 |
|
| Total Value of Interest in Brokerage Window Account | | | | | | $ | 37,088,717 |
|
| GRAND TOTAL | | | | | | $ | 6,210,656,421 |
|
Note: Cost information has not been included in column (d) because all investments are participant-directed. | |
* | Party-in-interest to the Plan |
See Report of Independent Registered Certified Public Accounting Firm
40
SIGNATURE
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on their behalf by the undersigned hereunto duly authorized.
|
| |
| |
Harris Corporation Retirement Plan Employee Benefits Committee, as Plan Administrator |
| |
By: | /s/ James P. Girard |
| James P. Girard, Chairperson |
Date: June 25, 2019
EXHIBIT 23.1
CONSENT OF INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference of our report dated June 28, 2018, relating to our audit of the Harris Corporation Retirement Plan’s (the “Plan”) statement of net assets available for benefits as of December 31, 2017, which appears in this Annual Report on Form 11-K, in Registration Statement No. 333-222821 on Form S-8.
/s/ Carr, Riggs & Ingram, LLC
Clearwater, Florida
June 25, 2019
EXHIBIT 23.2
CONSENT OF INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference of our report dated June 25, 2019, relating to our audit of the Harris Corporation Retirement Plan’s (the “Plan”) financial statements and supplemental schedule as of and for the year ended December 31, 2018, which appears in this Annual Report on Form 11-K in Registration Statement No. 333-222821 on Form S-8.
/s/ Buchbinder Tunick & Company LLP
Bethesda, MD
June 25, 2019