UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 11-K
(Mark One)
| | | | | | | | |
| | ý | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2021
OR
| | | | | | | | |
| | ¨ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission file number 001-37702
THE RETIREMENT AND SAVINGS PLAN FOR
AMGEN MANUFACTURING, LIMITED
State Road 31, Kilometer 24.6, Juncos, Puerto Rico 00777
(Full title and address of the plan)
AMGEN INC.
(Name of issuer of the securities held)
| | | | | | | | |
| | |
| One Amgen Center Drive, | | 91320-1799 |
| Thousand Oaks, California | | (Zip Code) |
| (Address of principal executive offices) | | |
The Retirement and Savings Plan for
Amgen Manufacturing, Limited
Audited Financial Statements
and Supplemental Schedule
Year Ended December 31, 2021
Contents
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| Audited Financial Statements: | |
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| Supplemental Schedule: | |
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Report of Independent Registered Public Accounting Firm
To the Plan Participants and the Plan Administrator of The Retirement and Savings Plan for Amgen Manufacturing, Limited
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of The Retirement and Savings Plan for Amgen Manufacturing, Limited (the Plan) as of December 31, 2021 and 2020, and the related statement of changes in net assets available for benefits for the year ended December 31, 2021, 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 at December 31, 2021 and 2020, and the changes in its net assets available for benefits for the year ended December 31, 2021, in conformity with U.S. generally accepted accounting principles.
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 that 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.
Supplemental Schedules Required by ERISA
The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2021, (referred to as the “supplemental schedule”), has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the 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 supplemental schedule. In forming our opinion on the information, we evaluated whether such 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 Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ ERNST & YOUNG LLP
We have served as the Plan’s auditor since 1992.
Los Angeles, California
June 23, 2022
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Statements of Net Assets Available for Benefits
| | | | | | | | | | | | | | |
| | | December 31, |
| | | 2021 | | 2020 |
| Assets | | | | |
| Investments at fair value | | $ | 669,938,625 | | | $ | 597,881,242 | |
| Notes receivable from participants | | 15,668,200 | | | 13,717,037 | |
| Other – principally due from broker | | 469,779 | | | 302,168 | |
| Total assets | | 686,076,604 | | | 611,900,447 | |
| Liabilities | | | | |
| Other – principally due to broker | | 404,824 | | | 285,774 | |
| Total liabilities | | 404,824 | | | 285,774 | |
| Net assets available for benefits | | $ | 685,671,780 | | | $ | 611,614,673 | |
See accompanying notes.
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Statement of Changes in Net Assets Available for Benefits
| | | | | | | | | | |
| | | Year Ended December 31, |
| | | 2021 | | |
| Additions to (deductions from) net assets: | | | | |
| Employer contributions | | $ | 20,026,585 | | | |
| Participant contributions | | 19,372,774 | | | |
| Rollover contributions | | 299,820 | | | |
| Interest and dividend income | | 4,822,727 | | | |
| Net realized/unrealized gains | | 47,138,158 | | | |
| Interest income on notes receivable from participants | | 686,331 | | | |
| Benefits paid | | (17,339,146) | | | |
| Investment and administrative fees | | (950,142) | | | |
| Net increase | | 74,057,107 | | | |
| Net assets available for benefits at beginning of year | | 611,614,673 | | | |
| Net assets available for benefits at end of year | | $ | 685,671,780 | | | |
See accompanying notes.
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements
December 31, 2021
1. Description of the Plan
The following description of The Retirement and Savings Plan for Amgen Manufacturing, Limited (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
General
The Plan was established effective May 1, 1992, and was amended and restated effective January 1, 2017, and subsequently amended, with the most recent amendment adopted on December 13, 2021. The Plan is a defined contribution plan covering substantially all Puerto Rico resident employees of Amgen Manufacturing, Limited (the Company), a wholly owned subsidiary of Amgen Inc. (Amgen). The Plan is intended to qualify under Section 1081.01 of the Puerto Rico Internal Revenue Code of 2011, as amended (the PR Code) (see Note 4, Income Tax Status) and section 407(d)(3)(A) of the Employee Retirement Income Security Act of 1974 (ERISA).
Contributions
Subject to certain limitations (as defined in the Plan), participants may elect to contribute up to 30% of their eligible compensation in pre-tax contributions and after-tax contributions or a combination of these types of contributions (together, Individual Contributions). A participant’s pre-tax contributions are subject to the PR Code and Plan limitations and could not exceed $15,000 in 2021. Participants may elect to contribute after-tax contributions beginning January 1 of the year following the year the participant was hired. Participant after-tax contributions are subject to the PR Code and Plan limitations and could not exceed $1,500 in 2021. Unless an employee has voluntarily enrolled in the Plan or has declined to participate in the Plan within the first 30 days of employment, all newly eligible participants are automatically enrolled in the Plan, and contributions equal to 5% of their eligible compensation are withheld and contributed to the Plan as pre-tax contributions; such contributions are automatically increased by 1% per year until their contributions reach 10% of their eligible compensation. Participants may elect to adjust, cease or resume their Individual Contributions at any time.
Participants who are at least age 50 by the close of the Plan year may also elect to make certain additional pre-tax Individual Contributions, referred to as catch-up contributions, that are subject to the PR Code and Plan limitations and could not exceed $1,500 in 2021. Participants may also contribute pre-tax and after-tax amounts representing distributions from certain other retirement plans qualified in Puerto Rico, referred to as rollover contributions (as defined in the Plan).
Each pay period, the Company makes a non-elective contribution for all eligible participants, whether or not they have elected to make Individual Contributions to the Plan, equal to 4% of each participant’s eligible compensation up to a maximum of $11,600 in 2021 (Core Contributions). In addition, the Company makes a contribution equal to amounts contributed by the participant as pre-tax contributions, including catch-up contributions, of up to 5% of eligible compensation (Matching Contributions). Matching Contributions could not exceed $14,500 in 2021.
Participants select the investments in which their Individual Contributions, including their Core Contributions and Matching Contributions (collectively, Company Contributions), are to be invested, electing among various alternatives, including Amgen common stock (Amgen stock). Participants may direct a maximum of 20% of contributions to be invested in Amgen stock. In addition, participants may transfer amounts among the investment options at any time, subject to certain limitations. Notwithstanding the foregoing, if 20% or more of the value of a participant’s Plan account is invested in Amgen stock, the Plan document provides that no transfers from other investment options can be made to invest in Amgen stock.
The accounts of participants who had never made an investment election are allocated to investments under a qualified default investment alternative, which is intended to be compliant with ERISA regulations. At any time, participants may elect to alter the investments in their accounts made under a qualified default investment alternative.
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)
Vesting
Participants are immediately vested with respect to their Individual Contributions and Matching Contributions and earnings and losses (hereafter referred to as earnings) thereon. Participants hired prior to January 1, 2020, are also immediately vested with respect to their Core Contributions and earnings thereon. Participants hired on or after January 1, 2020, vest in full with respect to their Core Contributions and earnings thereon after three years of service, as defined by the terms of the Plan, or upon reaching age 65 while employed by the Company, if earlier. If a participant ceases to be an employee before fully vesting in their account, the non-vested portion of the participant’s account will be treated as a forfeiture, as defined by the terms of the Plan, on the earlier of (a) the date the participant incurs a five-year break in service, as defined by the terms of the Plan or, (b) the date the participant receives a distribution of the entire vested portion of their account.
Participant Accounts
Each participant’s account is credited with: (a) the participant’s Individual Contributions; (b) an allocation of Company Contributions; and (c) earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.
Plan Investments
Plan participants can invest in seven different asset classes as well as Amgen stock or can actively manage their account under a self-directed brokerage arrangement in which a wider array of investment options are available. The value of an investment in an asset class is determined by its underlying investment vehicles, which may include one or more of the following: mutual funds, collective trust funds and portfolios, which are separately managed exclusively for the benefit of Plan participants and their beneficiaries (separately managed portfolios). The separately managed portfolios are composed primarily of investments in publicly traded common and preferred stocks. The asset classes are designed to provide participants with choices among a variety of investment objectives.
Payments of Benefits
Subject to Plan limitations, upon termination of employment, including termination due to disability (as defined in the Plan) or retirement, a participant may elect to receive a full or partial distribution of his or her account balance in: (a) a single payment in cash; (b) a single distribution in full shares of Amgen stock (with any fractional shares paid in cash); (c) a single distribution paid in a combination of cash and full shares of Amgen stock; or (d) a rollover distribution to an eligible retirement plan.
Participants may also elect to maintain their account balance in the Plan subsequent to termination of employment, provided that their account balance is greater than $1,000.
If a participant dies before receiving the value of his or her account balance, the participant’s beneficiary may elect to receive the distribution of remaining funds from among the alternatives described above, subject to certain Plan limitations.
Notes Receivable from Participants
Subject to certain restrictions, a participant can have up to two loans outstanding at any one time from his or her Plan account with a combined maximum loan amount that may not exceed the lesser of: (a) 50% of the participant’s account balance or (b) $50,000 less certain adjustments, as applicable (as defined in the Plan). A participant’s loan is secured by his or her Plan account balance. Loans made prior to January 1, 2006, bear interest at fixed rates based on the average borrowing rates of certain major banks. Loans made on or after January 1, 2006, bear interest at fixed rates which, until changed by the Company, are based on the prime rate plus one percentage point as published in The Wall Street Journal, determined as of the last day of the calendar quarter preceding origination or such other rate as may be required by law. Loans are generally payable in installments over periods ranging from one to five years, unless the loan is used to acquire a principal residence for which the term of the loan may be up to 20 years. Principal and interest payments are allocated to the participant’s account.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to terminate the Plan subject to the provisions of ERISA. Upon termination, participants would receive distributions of their account balances.
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)
Trustee and Custodians
Banco Popular de Puerto Rico is the Plan’s trustee. Bank of America, N.A. is the Plan’s custodian with respect to the self-directed brokerage arrangement and the Amgen common stock fund. Northern Trust Company, NA (Northern) is the Plan’s custodian with respect to the asset classes.
2. Summary of Significant Accounting Policies
Basis of Accounting
The accompanying financial statements are prepared on the accrual basis of accounting. Benefits to participants are recorded when paid.
Fair Value Measurement
The investments of the Plan are reported at fair value. Fair value is generally defined as the price that would be received to sell an asset or paid to transfer a liability (the exit price) in an orderly transaction between market participants at the measurement date (see Note 3, Fair Value Measurements).
Investment Income and Losses
Dividend income is recognized on the ex-dividend date, and interest income is recorded on an accrual basis. Unrealized gains and losses on investments are measured by the change in the difference between the fair value and cost of the securities held at the beginning of the year (or date purchased if acquired during the Plan year) and the end of the year. Realized gains and losses from security transactions are recorded based on the weighted-average cost of securities sold.
Notes Receivable from Participants
Notes receivable from participants are carried at their unpaid balance plus accrued but unpaid interest, as applicable.
Due from/to Brokers
Purchases and sales of investments are recorded on a trade-date basis. Amounts due from and due to brokers arise from unsettled sale and purchase transactions, respectively.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Risks and Uncertainties
The Plan provides for investment options representing varied combinations of equities (including Amgen stock), fixed income, and other investments. Investments, in general, particularly in securities, are exposed to various risks, such as interest rate, inflation, market and credit risks, among others. Market risk includes global events which could impact the value of investments, including securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investments, including securities, it is at least reasonably possible that changes in the values of the Plan’s investments, including securities, will occur in the near term and that such changes could materially affect participant account balances and the amounts reported in the Plan’s financial statements.
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)
3. Fair Value Measurements
The Plan uses various valuation approaches in determining the fair value of investments within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the investment based on market data obtained from independent sources. Unobservable inputs are inputs that reflect assumptions about the inputs that market participants would use in pricing the investment and are developed based on the best information available in the circumstances. The fair value hierarchy is divided into three levels based on the source of inputs as follows:
Level 1 – Valuations based on unadjusted quoted prices in active markets for identical investments that the Plan has the ability to access;
Level 2 – Valuations for which all significant inputs are observable, either directly or indirectly, other than Level 1 inputs;
Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.
The availability of observable inputs can vary among the various types of investments. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used for measuring fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level of input used that is significant to the overall fair value measurement.
The following fair value hierarchy tables present information about each major class/category of the Plan’s investments measured at fair value:
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fair value measurements at December 31, 2021, using |
| | | Quoted prices
in active
markets for
identical
assets
(Level 1) | | Significant
other
observable
inputs
(Level 2) | | Significant
unobservable
inputs
(Level 3) | | Total |
| Amgen stock | | $ | 92,566,483 | | | $ | — | | | $ | — | | | $ | 92,566,483 | |
| Cash and cash equivalents | | 4,231,214 | | | — | | | — | | | 4,231,214 | |
| Collective trust funds | | — | | | 410,998,784 | | | — | | | 410,998,784 | |
| Common and preferred stock | | 143,456,396 | | | — | | | — | | | 143,456,396 | |
| Mutual funds | | 7,440,054 | | | — | | | — | | | 7,440,054 | |
| Self-directed brokerage accounts | | 11,245,694 | | | — | | | — | | | 11,245,694 | |
| Total investments at fair value | | $ | 258,939,841 | | | $ | 410,998,784 | | | $ | — | | | $ | 669,938,625 | |
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fair value measurements at December 31, 2020, using |
| | | Quoted prices
in active
markets for
identical
assets
(Level 1) | | Significant
other
observable
inputs
(Level 2) | | Significant
unobservable
inputs
(Level 3) | | Total |
| Amgen stock | | $ | 94,776,491 | | | $ | — | | | $ | — | | | $ | 94,776,491 | |
| Cash and cash equivalents | | 3,369,175 | | | — | | | — | | | 3,369,175 | |
| Collective trust funds | | — | | | 375,624,863 | | | — | | | 375,624,863 | |
| Common and preferred stocks | | 108,904,001 | | | — | | | — | | | 108,904,001 | |
| Mutual funds | | 7,820,865 | | | — | | | — | | | 7,820,865 | |
| Self-directed brokerage accounts | | 7,385,847 | | | — | | | — | | | 7,385,847 | |
| Total investments at fair value | | $ | 222,256,379 | | | $ | 375,624,863 | | | $ | — | | | $ | 597,881,242 | |
The fair values of substantially all common stocks (including Amgen stock), preferred stocks, mutual funds and underlying investments of self-directed brokerage accounts are valued using quoted market prices in active markets with no valuation adjustment.
Collective trust funds represent interests in pooled investment vehicles designed typically for collective investment of employee benefit trusts. The fair values of these investments are determined by reference to the net asset value per unit provided by the fund managers as the basis for current transactions.
4. Income Tax Status
The Plan received an opinion letter from the Puerto Rico Treasury Department (PRTD) dated February 26, 2018, with an effective date of January 1, 2017, stating that the Plan meets the requirements of Section 1081.01 of the PR Code and the regulations thereunder, and, therefore the related trust forming part of the Plan is exempt from taxation. Subsequently, six amendments were made to the Plan, and the Plan received letters from the PRTD stating the PRTD has no objection to the first four of these amendments. The Company has submitted the fifth amendment to the PRTD requesting an opinion that the Plan remains in compliance with the PR Code and regulations thereunder and intends to submit such a request with respect to the sixth amendment. Once qualified, the Plan is required to operate in conformity with the PR Code to maintain its qualification.
For taxable year 2021, the Company believes the Plan satisfied, and operated in compliance with, the applicable requirements of the PR Code and therefore believes that the Plan, as amended, is qualified and the related trust is tax exempt. The Company has indicated that it currently intends to continue to take the necessary steps, if any, to maintain the Plan’s compliance with the applicable requirements of the PR Code.
5. Party-in-Interest Transactions
Parties-in-interest are certain entities defined under Department of Labor regulations, including Amgen, and other parties that provide services to the Plan, such as the trustees, custodians and investment managers. The Plan pays the custodians certain administrative and investment management fees, and the Company pays certain administrative fees on behalf of the Plan. The Plan invests in collective trust funds managed by Northern, certain of the Plan’s investment managers and other third parties and may invest in securities of entities that are parties-in-interest. The Plan also invests in shares of common stock of Amgen and receives dividends on those shares. Notes receivable from participants are also considered party-in-interest transactions.
The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)
6. Reconciliation of Financial Statements to the Form 5500
The reconciliation of net assets available for benefits per the financial statements to the Form 5500 consisted of the following:
| | | | | | | | | | | | | | |
| | | December 31, |
| | | 2021 | | 2020 |
| Net assets available for benefits per the financial statements | | $ | 685,671,780 | | | $ | 611,614,673 | |
| | | | |
| | | | |
| Deemed loans | | (672,422) | | | (595,252) | |
| Net assets per the Form 5500 | | $ | 684,999,358 | | | $ | 611,019,421 | |
The following is a reconciliation of expenses per the financial statements to the Form 5500:
| | | | | | | | |
| | | Year Ended
December 31,
2021 |
| Benefits paid | | $ | (17,339,146) | |
| Investment and administrative fees | | (950,142) | |
| Total expenses per the financial statements | | (18,289,288) | |
| | |
| Deemed loans at December 31, 2020 | | 595,242 | |
| Deemed loans at December 31, 2021 | | (672,422) | |
| Total expenses per the Form 5500 | | $ | (18,366,468) | |
Supplemental Schedule
The Retirement and Savings Plan for Amgen Manufacturing, Limited
EIN: 98-0210484 Plan: #001
As of December 31, 2021
Schedule H, line 4i – Schedule of Assets (Held at End of Year)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| Amgen Stock* | | Employer Securities 411,461 shares | | $ | 92,566,483 | | |
| | | | | | $ | 92,566,483 | |
| | | | | | |
| Capital Preservation Asset Class: | | | | | |
| Wells Fargo Stable Value Fund W* | | Collective Trust Fund 1,244,438 units | | 74,316,074 | | |
| NT Collective Short Term Investment Fund* | | Collective Trust Fund 4,077,483 units | | 4,077,483 | | |
| Total Capital Preservation Asset Class | | | | | 78,393,557 | |
| | | | | | |
| Fixed Income Asset Class: | | | | | |
| MetLife Core Plus Collective Fund* | | Collective Trust Fund 1,692,802 units | | 18,333,045 | | |
| Wellington Core Bond Plus Portfolio Collective Investment Trust II* | | Collective Trust Fund 1,370,638 units | | 18,256,904 | | |
| Schroder Global Strategic Bond Trust Class W* | | Collective Trust Fund 467,071 units | | 4,754,785 | | |
| Putnam Absolute Return Fixed Income Fund* | | Collective Trust Fund 61,961 units | | 4,599,368 | | |
| Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund - Non Lending* | | Collective Trust Fund 18,357 units | | 2,964,350 | | |
| Total Fixed Income Asset Class | | | | | 48,908,452 | |
| | | | | | |
| Fixed Income Index Asset Class: | | | | | |
| Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund - Non Lending* | | Collective Trust Fund 635,366 units | | 102,598,903 | | |
| Total Fixed Income Index Asset Class | | | | | 102,598,903 | |
| | | | | | |
| U.S. Equity Asset Class: | | | | | |
| NT Collective Russell 3000 Index Fund / Non Lending* | | Collective Trust Fund 194,941 units | | 14,355,668 | | |
| Amazon Inc. | | Common and Preferred Stock 1,315 shares | | 4,384,657 | | |
| Interest Bearing Cash | | Cash and Cash Equivalents 4,189,715 units | | 4,189,715 | | |
| Visa Inc. Class A | | Common and Preferred Stock 17,724 shares | | 3,840,968 | | |
| Facebook Inc. | | Common and Preferred Stock 9,411 shares | | 3,165,390 | | |
| Netflix, Inc. | | Common and Preferred Stock 3,741 shares | | 2,253,728 | | |
| Intuit Inc. | | Common and Preferred Stock 2,777 shares | | 1,786,222 | | |
| Mastercard Inc. Class A | | Common and Preferred Stock 4,883 shares | | 1,754,560 | | |
| TransDigm Group Inc. | | Common and Preferred Stock 2,580 shares | | 1,641,602 | | |
| CoStar Group Inc. | | Common and Preferred Stock 20,652 shares | | 1,632,128 | | |
| Applovin Corporation Class A | | Common and Preferred Stock 17,277 shares | | 1,628,530 | | |
| Sea Limited | | Common and Preferred Stock 6,552 shares | | 1,465,748 | | |
| Match Group Inc. | | Common and Preferred Stock 10,866 shares | | 1,437,029 | | |
| ServiceNow Inc. | | Common and Preferred Stock 2,142 shares | | 1,390,394 | | |
| Applied Materials Inc. | | Common and Preferred Stock 8,832 shares | | 1,389,804 | | |
| Heico Corporation Class A | | Common and Preferred Stock 10,318 shares | | 1,326,069 | | |
| UnitedHealth Group Inc. | | Common and Preferred Stock 2,505 shares | | 1,257,861 | | |
| Lam Research Corporation | | Common and Preferred Stock 1,746 shares | | 1,255,636 | | |
| Wayfair Inc. Class A | | Common and Preferred Stock 6,533 shares | | 1,241,074 | | |
Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| Microsoft Corporation | | Common and Preferred Stock 3,674 shares | | 1,235,640 | | |
| Northern Trust Global Investments Collective Daily Short Term Investment Fund - Non Lending* | | Collective Trust Fund 1,230,547 units | | 1,230,547 | | |
| Skyworks Solutions Inc | | Common and Preferred Stock 7,921 shares | | 1,228,864 | | |
| Qorvo, Inc. | | Common and Preferred Stock 7,846 shares | | 1,227,033 | | |
| KKR & Company Inc. Class A | | Common and Preferred Stock 15,788 shares | | 1,176,206 | | |
| The Carlyle Group Inc. | | Common and Preferred Stock 21,419 shares | | 1,175,903 | | |
| Microsoft Corporation | | Common and Preferred Stock 3,358 shares | | 1,129,363 | | |
| Salesforce.com Inc. | | Common and Preferred Stock 4,380 shares | | 1,113,089 | | |
| STERIS plc | | Common and Preferred Stock 4,528 shares | | 1,102,160 | | |
| Upstart Holdings Inc. | | Common and Preferred Stock 7,262 shares | | 1,098,741 | | |
| Block, Inc. | | Common and Preferred Stock 6,674 shares | | 1,077,918 | | |
| Alphabet Inc. | | Common and Preferred Stock 366 shares | | 1,059,054 | | |
| American International Group Inc. | | Common and Preferred Stock 18,379 shares | | 1,045,030 | | |
| Ball Corporation | | Common and Preferred Stock 10,819 shares | | 1,041,545 | | |
| General Electric | | Common and Preferred Stock 10,870 shares | | 1,026,889 | | |
| Lear Corporation | | Common and Preferred Stock 5,561 shares | | 1,017,385 | | |
| Skechers USA Inc. Class A | | Common and Preferred Stock 23,344 shares | | 1,013,130 | | |
| Workday Inc. Class A | | Common and Preferred Stock 3,650 shares | | 997,107 | | |
| Wells Fargo & Company* | | Common and Preferred Stock 20,661 shares | | 991,315 | | |
| Danaher Corporation | | Common and Preferred Stock 2,984 shares | | 981,766 | | |
| Entegris Inc. | | Common and Preferred Stock 6,976 shares | | 966,734 | | |
| Yum! Brands Inc. | | Common and Preferred Stock 6,880 shares | | 955,357 | | |
| Splunk Inc. | | Common and Preferred Stock 8,142 shares | | 942,192 | | |
| Charles River Laboratories International Inc. | | Common and Preferred Stock 2,450 shares | | 923,111 | | |
| Clean Harbors Inc. | | Common and Preferred Stock 9,081 shares | | 906,011 | | |
| Catalent Inc. | | Common and Preferred Stock 7,051 shares | | 902,740 | | |
| Cognizant Technology Solutions Corporation Class A | | Common and Preferred Stock 10,118 shares | | 897,669 | | |
| Alphabet Inc. Class C | | Common and Preferred Stock 305 shares | | 882,545 | | |
| Salesforce.com Inc. | | Common and Preferred Stock 3,444 shares | | 875,224 | | |
| Abbott Laboratories | | Common and Preferred Stock 6,161 shares | | 867,099 | | |
| Paypal Holdings Inc. | | Common and Preferred Stock 4,506 shares | | 849,741 | | |
| Edison International | | Common and Preferred Stock 12,361 shares | | 843,638 | | |
| Thermo Fisher Corporation | | Common and Preferred Stock 1,257 shares | | 838,721 | | |
| NRG Energy Inc. | | Common and Preferred Stock 19,439 shares | | 837,432 | | |
| Twilio Inc. Class A | | Common and Preferred Stock 3,153 shares | | 830,311 | | |
| Equinix Inc. | | Common and Preferred Stock 961 shares | | 812,852 | | |
| Uber Technologies Inc. | | Common and Preferred Stock 19,301 shares | | 809,291 | | |
| Waste Connections Inc. | | Common and Preferred Stock 5,885 shares | | 801,949 | | |
| Synopsys Inc. | | Common and Preferred Stock 2,169 shares | | 799,277 | | |
| Autodesk Inc. | | Common and Preferred Stock 2,837 shares | | 797,736 | | |
| Wabtec Corporation | | Common and Preferred Stock 8,568 shares | | 789,198 | | |
| Newell Brands Inc. | | Common and Preferred Stock 35,941 shares | | 784,951 | | |
| IHS Markit Limited | | Common and Preferred Stock 5,863 shares | | 779,310 | | |
| Citigroup Inc. | | Common and Preferred Stock 12,889 shares | | 778,367 | | |
| Walt Disney Company | | Common and Preferred Stock 4,950 shares | | 766,706 | | |
| Atlassian Corporation PLC Class A | | Common and Preferred Stock 1,949 shares | | 743,134 | | |
| Regeneron Pharmaceuticals, Inc. | | Common and Preferred Stock 1,172 shares | | 740,141 | | |
| MSCI Inc. | | Common and Preferred Stock 1,208 shares | | 740,130 | | |
| Nvidia Corporation | | Common and Preferred Stock 2,440 shares | | 717,628 | | |
Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| Henry Schein Inc. | | Common and Preferred Stock 8,984 shares | | 696,530 | | |
| Ametek Inc. | | Common and Preferred Stock 4,727 shares | | 695,058 | | |
| Align Technology Inc. | | Common and Preferred Stock 1,050 shares | | 690,039 | | |
| Halliburton Company | | Common and Preferred Stock 29,781 shares | | 681,091 | | |
| Shopify Inc | | Common and Preferred Stock 488 shares | | 672,166 | | |
| PVH Corporation | | Common and Preferred Stock 6,112 shares | | 651,845 | | |
| Western Alliance Bancorporation | | Common and Preferred Stock 6,055 shares | | 651,821 | | |
| Amphenol Corporation Class A | | Common and Preferred Stock 7,396 shares | | 646,854 | | |
| FMC Corporation | | Common and Preferred Stock 5,806 shares | | 638,021 | | |
| Equitable Holdings Inc. | | Common and Preferred Stock 19,369 shares | | 635,110 | | |
| American Express Company | | Common and Preferred Stock 3,853 shares | | 630,351 | | |
| FleetCor Technologies Inc. | | Common and Preferred Stock 2,782 shares | | 622,723 | | |
| Merit Medical Systems Inc. | | Common and Preferred Stock 9,987 shares | | 622,190 | | |
| MetLife Inc.* | | Common and Preferred Stock 9,757 shares | | 609,715 | | |
| Sensata Technologies BV Holding | | Common and Preferred Stock 9,859 shares | | 608,202 | | |
| UGI Corporation | | Common and Preferred Stock 13,240 shares | | 607,848 | | |
| Zoetis Inc. Class A | | Common and Preferred Stock 2,487 shares | | 606,903 | | |
| Halozyme Therapeutics Inc. | | Common and Preferred Stock 15,092 shares | | 606,849 | | |
| Hewlett Packard Enterprise Company | | Common and Preferred Stock 38,249 shares | | 603,187 | | |
| Dexcom Inc. | | Common and Preferred Stock 1,095 shares | | 587,960 | | |
| Axis Capital Holdings Limited | | Common and Preferred Stock 10,653 shares | | 580,269 | | |
| Baker Hughes Company | | Common and Preferred Stock 24,064 shares | | 578,980 | | |
| Intuitive Surgical, Inc. | | Common and Preferred Stock 1,608 shares | | 577,754 | | |
| Huntington Bancshares Inc. | | Common and Preferred Stock 36,918 shares | | 569,276 | | |
| Linde PLC | | Common and Preferred Stock 1,627 shares | | 563,642 | | |
| Matson Inc. | | Common and Preferred Stock 6,253 shares | | 562,958 | | |
| McKesson Corporation | | Common and Preferred Stock 2,189 shares | | 544,120 | | |
| J2 Global Inc. | | Common and Preferred Stock 4,890 shares | | 542,105 | | |
| Charter Communications, Inc. Class A | | Common and Preferred Stock 829 shares | | 540,483 | | |
| Mohawk Industries Inc. | | Common and Preferred Stock 2,945 shares | | 536,520 | | |
| Amdocs Limited | | Common and Preferred Stock 7,100 shares | | 531,364 | | |
| Gildan Activewear Inc. | | Common and Preferred Stock 12,462 shares | | 528,264 | | |
| Illumina, Inc. | | Common and Preferred Stock 1,359 shares | | 517,018 | | |
| LKQ Corporation | | Common and Preferred Stock 8,594 shares | | 515,898 | | |
| Voya Financial Inc. | | Common and Preferred Stock 7,741 shares | | 513,306 | | |
| On Semiconductor Corporation | | Common and Preferred Stock 7,551 shares | | 512,864 | | |
| Dow Inc. | | Common and Preferred Stock 9,008 shares | | 510,934 | | |
| Snowflake Inc. Class A | | Common and Preferred Stock 1,471 shares | | 498,301 | | |
| Trinet Group Inc. | | Common and Preferred Stock 5,223 shares | | 497,543 | | |
| Floor & Decor Holdings Inc. | | Common and Preferred Stock 3,746 shares | | 487,017 | | |
| Capital One Financial Corporation | | Common and Preferred Stock 3,333 shares | | 483,585 | | |
| RingCentral, Inc. Class A | | Common and Preferred Stock 2,581 shares | | 483,550 | | |
| Edwards Lifesciences Corporation | | Common and Preferred Stock 3,720 shares | | 481,926 | | |
| Fresenius Medical Care | | Common and Preferred Stock 14,580 shares | | 473,267 | | |
| Sally Beauty Holdings Inc. | | Common and Preferred Stock 25,477 shares | | 470,305 | | |
| IDEX Corporation | | Common and Preferred Stock 1,983 shares | | 468,623 | | |
| Exxon Mobil Corporation | | Common and Preferred Stock 7,550 shares | | 461,985 | | |
| Brown & Brown Inc. | | Common and Preferred Stock 6,462 shares | | 454,149 | | |
| Warner Music Group Corporation Class A | | Common and Preferred Stock 10,501 shares | | 453,433 | | |
| DoorDash Inc. Class A | | Common and Preferred Stock 2,972 shares | | 442,531 | | |
| Sarepta Therapeutics Inc. | | Common and Preferred Stock 4,848 shares | | 436,562 | | |
Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| Ritchie Bros Auctioneers Inc. | | Common and Preferred Stock 7,013 shares | | 429,266 | | |
| Frontdoor Inc. | | Common and Preferred Stock 11,564 shares | | 423,821 | | |
| NOV Inc. | | Common and Preferred Stock 31,186 shares | | 422,570 | | |
| C.H. Robinson Worldwide Inc. | | Common and Preferred Stock 3,885 shares | | 418,143 | | |
| Euronet Worldwide Inc. | | Common and Preferred Stock 3,483 shares | | 415,069 | | |
| Keysight Technologies Inc. | | Common and Preferred Stock 1,984 shares | | 409,716 | | |
| Ingredion Inc. | | Common and Preferred Stock 4,226 shares | | 408,401 | | |
| BWX Technologies Inc. | | Common and Preferred Stock 8,379 shares | | 401,187 | | |
| JP Morgan Chase & Company* | | Common and Preferred Stock 2,458 shares | | 389,224 | | |
| KAR Auction Services Inc. | | Common and Preferred Stock 24,539 shares | | 383,299 | | |
| Airbnb Inc. Class A | | Common and Preferred Stock 2,276 shares | | 378,931 | | |
| Hanesbrands Inc. | | Common and Preferred Stock 22,511 shares | | 376,384 | | |
| Belden Inc. | | Common and Preferred Stock 5,663 shares | | 372,229 | | |
| Goldman Sachs Group Inc. | | Common and Preferred Stock 966 shares | | 369,543 | | |
| National Retail Properties Inc. | | Common and Preferred Stock 7,662 shares | | 368,312 | | |
| Generac Holdings Inc. | | Common and Preferred Stock 1,046 shares | | 368,108 | | |
| Zendesk Inc. | | Common and Preferred Stock 3,506 shares | | 365,641 | | |
| Middleby Corporation | | Common and Preferred Stock 1,843 shares | | 362,629 | | |
| Helen Trustoy Limited | | Common and Preferred Stock 1,460 shares | | 356,926 | | |
| First American Financial Corporation | | Common and Preferred Stock 4,484 shares | | 350,783 | | |
| Woodward Inc. | | Common and Preferred Stock 3,135 shares | | 343,157 | | |
| Cabot Corporation | | Common and Preferred Stock 6,024 shares | | 338,549 | | |
| Syneos Health Inc. | | Common and Preferred Stock 3,266 shares | | 335,353 | | |
| Textron Inc. | | Common and Preferred Stock 4,337 shares | | 334,816 | | |
| Carter Inc. | | Common and Preferred Stock 3,214 shares | | 325,321 | | |
| New Relic Inc. | | Common and Preferred Stock 2,839 shares | | 312,176 | | |
| UBS Group AG | | Common and Preferred Stock 17,398 shares | | 310,902 | | |
| Tennant Company | | Common and Preferred Stock 3,813 shares | | 309,006 | | |
| ASGN Inc. | | Common and Preferred Stock 2,496 shares | | 308,006 | | |
| MACOM Technology Solutions Holdings Inc. | | Common and Preferred Stock 3,919 shares | | 306,858 | | |
| FTI Consulting Inc. | | Common and Preferred Stock 1,989 shares | | 305,152 | | |
| Rogers Corporation | | Common and Preferred Stock 1,104 shares | | 301,392 | | |
| Copart Inc. | | Common and Preferred Stock 1,940 shares | | 294,143 | | |
| GlobalFoundries Inc. | | Common and Preferred Stock 4,506 shares | | 292,755 | | |
| Grand Canyon Education Inc. | | Common and Preferred Stock 3,369 shares | | 288,757 | | |
| Bank of America Corporation* | | Common and Preferred Stock 6,456 shares | | 287,227 | | |
| ACV Auctions Inc. Class A | | Common and Preferred Stock 15,193 shares | | 286,236 | | |
| Pfizer Inc. | | Common and Preferred Stock 4,833 shares | | 285,389 | | |
| Quidel Corporation | | Common and Preferred Stock 2,109 shares | | 284,694 | | |
| Kirby Corporation | | Common and Preferred Stock 4,745 shares | | 281,948 | | |
| Dycom Industries Inc. | | Common and Preferred Stock 2,960 shares | | 277,530 | | |
| 2U Inc. | | Common and Preferred Stock 13,571 shares | | 272,370 | | |
| Prosperity Bancshares Inc. | | Common and Preferred Stock 3,719 shares | | 268,884 | | |
| Forward Air Corporation | | Common and Preferred Stock 2,203 shares | | 266,761 | | |
| 8X8 Inc. | | Common and Preferred Stock 15,801 shares | | 264,825 | | |
| Graco Inc. | | Common and Preferred Stock 3,282 shares | | 264,595 | | |
| LPL Financial Holdings Inc. | | Common and Preferred Stock 1,645 shares | | 263,348 | | |
| Momentive Global Inc. | | Common and Preferred Stock 12,446 shares | | 263,233 | | |
| Trimble Inc. | | Common and Preferred Stock 3,017 shares | | 263,052 | | |
| HealthEquity Inc. | | Common and Preferred Stock 5,894 shares | | 260,751 | | |
| Royal Dutch Shell PLC | | Common and Preferred Stock 5,836 shares | | 253,282 | | |
Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| Carvana Company Class A | | Common and Preferred Stock 1,087 shares | | 251,956 | | |
| SS&C Technologies Holdings Inc. | | Common and Preferred Stock 3,001 shares | | 246,022 | | |
| Alleghany Corporation | | Common and Preferred Stock 368 shares | | 245,673 | | |
| Hologic Inc. | | Common and Preferred Stock 3,154 shares | | 241,470 | | |
| AMN Healthcare Services Inc. | | Common and Preferred Stock 1,969 shares | | 240,868 | | |
| Cloudflare Inc. | | Common and Preferred Stock 1,831 shares | | 240,777 | | |
| Cardinal Health, Inc. | | Common and Preferred Stock 4,675 shares | | 240,716 | | |
| Gartner Inc. | | Common and Preferred Stock 717 shares | | 239,707 | | |
| Acadia Healthcare Company Inc. | | Common and Preferred Stock 3,942 shares | | 239,279 | | |
| BankUnited Inc. | | Common and Preferred Stock 5,612 shares | | 237,444 | | |
| Mid-American Apartment Communities Inc. | | Common and Preferred Stock 1,026 shares | | 235,405 | | |
| Bottomline Technologies Inc. | | Common and Preferred Stock 4,159 shares | | 234,859 | | |
| AerCap Holdings N.V. | | Common and Preferred Stock 3,578 shares | | 234,073 | | |
| 10X Genomics Inc. Class A | | Common and Preferred Stock 1,542 shares | | 229,696 | | |
| Booking Holdings Inc. | | Common and Preferred Stock 90 shares | | 215,931 | | |
| Cenovus Energy Inc. | | Common and Preferred Stock 17,544 shares | | 215,440 | | |
| National Bank Holdings Corporation Class A | | Common and Preferred Stock 4,868 shares | | 213,900 | | |
| Cohen & Steers Inc. | | Common and Preferred Stock 2,298 shares | | 212,588 | | |
| Advanced Energy Industries Inc. | | Common and Preferred Stock 2,326 shares | | 211,806 | | |
| Chemed Corporation | | Common and Preferred Stock 396 shares | | 209,500 | | |
| Tronox Holdings PLC | | Common and Preferred Stock 8,709 shares | | 209,277 | | |
| ALLETE Inc. | | Common and Preferred Stock 3,106 shares | | 206,083 | | |
| Nasdaq Inc. | | Common and Preferred Stock 981 shares | | 206,020 | | |
| Itron Inc. | | Common and Preferred Stock 2,952 shares | | 202,271 | | |
| Signature Bank | | Common and Preferred Stock 616 shares | | 199,258 | | |
| Albany International Corporation Class A | | Common and Preferred Stock 2,218 shares | | 196,182 | | |
| Mednax Inc. | | Common and Preferred Stock 7,175 shares | | 195,232 | | |
| ABM Industrials Inc. | | Common and Preferred Stock 4,680 shares | | 191,178 | | |
| Atmos Energy Corporation | | Common and Preferred Stock 1,815 shares | | 190,158 | | |
| Sotera Health Company | | Common and Preferred Stock 8,032 shares | | 189,154 | | |
| Harsco Corporation | | Common and Preferred Stock 11,142 shares | | 186,183 | | |
| ACI Worldwide Inc. | | Common and Preferred Stock 5,357 shares | | 185,888 | | |
| Carlisle Companies Inc. | | Common and Preferred Stock 745 shares | | 184,849 | | |
| KBR, Inc. | | Common and Preferred Stock 3,836 shares | | 182,670 | | |
| Veracyte Inc. | | Common and Preferred Stock 4,425 shares | | 182,310 | | |
| Knowles Corporation | | Common and Preferred Stock 7,782 shares | | 181,710 | | |
| NCR Corporation | | Common and Preferred Stock 4,507 shares | | 181,181 | | |
| Bio-Techne Corporation | | Common and Preferred Stock 345 shares | | 178,482 | | |
| Aspen Technology Inc. | | Common and Preferred Stock 1,135 shares | | 172,747 | | |
| N-Able Technologies International Inc. | | Common and Preferred Stock 15,491 shares | | 171,950 | | |
| Markel Corporation Holding Company | | Common and Preferred Stock 138 shares | | 170,292 | | |
| Altra Industrial Motion Corporation | | Common and Preferred Stock 3,296 shares | | 169,975 | | |
| Mimecast Limited | | Common and Preferred Stock 2,126 shares | | 169,166 | | |
| Monro Inc. | | Common and Preferred Stock 2,886 shares | | 168,167 | | |
| Fiverr International Limited | | Common and Preferred Stock 1,471 shares | | 167,253 | | |
| Barnes Group Inc. | | Common and Preferred Stock 3,531 shares | | 164,509 | | |
| AptarGroup Inc. | | Common and Preferred Stock 1,335 shares | | 163,511 | | |
| CarGurus Inc. Class A | | Common and Preferred Stock 4,811 shares | | 161,842 | | |
| Wolverine World Wide Inc. | | Common and Preferred Stock 5,530 shares | | 159,319 | | |
| Canada Goose Holdings Inc. | | Common and Preferred Stock 4,272 shares | | 158,320 | | |
| Omnicell Inc. | | Common and Preferred Stock 863 shares | | 155,720 | | |
Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| WisdomTree Investments Inc. | | Common and Preferred Stock 25,398 shares | | 155,436 | | |
| WillScot Mobile Mini Holdings Corporation | | Common and Preferred Stock 3,765 shares | | 153,763 | | |
| Hexcel Corporation | | Common and Preferred Stock 2,939 shares | | 152,240 | | |
| Boston Properties Inc. | | Common and Preferred Stock 1,307 shares | | 150,540 | | |
| CareDx Inc. | | Common and Preferred Stock 3,303 shares | | 150,220 | | |
| Herbalife Nutrition Limited | | Common and Preferred Stock 3,639 shares | | 148,944 | | |
| Smartsheet Inc. Class A | | Common and Preferred Stock 1,919 shares | | 148,627 | | |
| II-Vi Inc. | | Common and Preferred Stock 2,170 shares | | 148,276 | | |
| ZipRecruiter Inc. Class A | | Common and Preferred Stock 5,701 shares | | 142,183 | | |
| Matthews International Corporation Class A | | Common and Preferred Stock 3,854 shares | | 141,326 | | |
| Huron Consulting Group Inc. | | Common and Preferred Stock 2,796 shares | | 139,520 | | |
| Under Armour Inc. Class C | | Common and Preferred Stock 7,690 shares | | 138,728 | | |
| Pacific Premier Bancorp Inc. | | Common and Preferred Stock 3,410 shares | | 136,502 | | |
| Kraton Corporation | | Common and Preferred Stock 2,935 shares | | 135,949 | | |
| Cimpress plc | | Common and Preferred Stock 1,868 shares | | 133,767 | | |
| Supernus Pharmaceuticals Inc. | | Common and Preferred Stock 4,570 shares | | 133,261 | | |
| Teledyne Technologies Inc. | | Common and Preferred Stock 305 shares | | 133,251 | | |
| Kodiak Sciences Inc. | | Common and Preferred Stock 1,570 shares | | 133,105 | | |
| Privia Health Group Inc. | | Common and Preferred Stock 5,145 shares | | 133,101 | | |
| Ciena Corporation | | Common and Preferred Stock 1,713 shares | | 131,850 | | |
| Graphic Packaging Holding Company | | Common and Preferred Stock 6,761 shares | | 131,840 | | |
| IAA Spinco Inc. | | Common and Preferred Stock 2,604 shares | | 131,814 | | |
| Prestige Consumer Healthcare Inc. | | Common and Preferred Stock 2,140 shares | | 129,791 | | |
| Knight-Swift Transportation Holdings Inc. Class A | | Common and Preferred Stock 2,124 shares | | 129,437 | | |
| Box Inc. Class A | | Common and Preferred Stock 4,910 shares | | 128,593 | | |
| Sumo Logic Inc. | | Common and Preferred Stock 9,442 shares | | 128,034 | | |
| Nu Skin Enterprises Inc. Class A | | Common and Preferred Stock 2,520 shares | | 127,890 | | |
| Bank Ozk | | Common and Preferred Stock 2,741 shares | | 127,539 | | |
| PacWest Bancorp | | Common and Preferred Stock 2,819 shares | | 127,334 | | |
| JBG SMITH Properties | | Common and Preferred Stock 4,435 shares | | 127,329 | | |
| SLR Investment Corporation | | Common and Preferred Stock 6,882 shares | | 126,835 | | |
| IPG Photonics Corporation | | Common and Preferred Stock 736 shares | | 126,695 | | |
| Diamondback Energy Inc. | | Common and Preferred Stock 1,163 shares | | 125,430 | | |
| Tenable Holdings Inc. | | Common and Preferred Stock 2,260 shares | | 124,458 | | |
| Sportradar Group | | Common and Preferred Stock 7,033 shares | | 123,570 | | |
| Encompass Health Corporation | | Common and Preferred Stock 1,887 shares | | 123,146 | | |
| Range Resources Corporation | | Common and Preferred Stock 6,805 shares | | 121,333 | | |
| Anaplan Inc. | | Common and Preferred Stock 2,607 shares | | 119,531 | | |
| BRP Group Inc. Class A | | Common and Preferred Stock 3,276 shares | | 118,296 | | |
| Mandiant Inc. | | Common and Preferred Stock 6,742 shares | | 118,255 | | |
| Nevro Corporation | | Common and Preferred Stock 1,412 shares | | 114,471 | | |
| KnowBe4 Inc. Class A | | Common and Preferred Stock 4,912 shares | | 112,681 | | |
| Texas Pacific Land Corporation | | Common and Preferred Stock 90 shares | | 112,398 | | |
| Texas Capital Bancshares Inc. | | Common and Preferred Stock 1,850 shares | | 111,463 | | |
| Berkshire Hills Bancorp Inc. | | Common and Preferred Stock 3,846 shares | | 109,342 | | |
| Arvinas Inc. | | Common and Preferred Stock 1,322 shares | | 108,589 | | |
| AZZ Inc. | | Common and Preferred Stock 1,934 shares | | 106,931 | | |
| Relay Therapeutics Inc. | | Common and Preferred Stock 3,474 shares | | 106,687 | | |
| Abiomed Inc. | | Common and Preferred Stock 291 shares | | 104,518 | | |
| Sterling Check Corporation | | Common and Preferred Stock 5,003 shares | | 102,612 | | |
| Coherus BioSciences Inc. | | Common and Preferred Stock 6,418 shares | | 102,431 | | |
Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| Agios Pharmaceuticals Inc. | | Common and Preferred Stock 3,108 shares | | 102,160 | | |
| TreeHouse Foods Inc. | | Common and Preferred Stock 2,489 shares | | 100,879 | | |
| Evercore Inc. | | Common and Preferred Stock 742 shares | | 100,801 | | |
| John Bean Technologies Corporation | | Common and Preferred Stock 653 shares | | 100,275 | | |
| Alamos Gold Inc. Class A | | Common and Preferred Stock 13,039 shares | | 100,270 | | |
| World Wrestling Entertainment | | Common and Preferred Stock 2,021 shares | | 99,716 | | |
| Vroom Inc. | | Common and Preferred Stock 9,043 shares | | 97,574 | | |
| Fox Factory Holding Corporation | | Common and Preferred Stock 571 shares | | 97,127 | | |
| Solarwinds Corporation | | Common and Preferred Stock 6,655 shares | | 94,434 | | |
| Consensus Cloud Solutions Inc. | | Common and Preferred Stock 1,630 shares | | 94,328 | | |
| Farfetch Limited Class A | | Common and Preferred Stock 2,807 shares | | 93,838 | | |
| Heron Therapeutics Inc. | | Common and Preferred Stock 10,257 shares | | 93,646 | | |
| Polaris Inc. | | Common and Preferred Stock 849 shares | | 93,314 | | |
| C4 Therapeutics Inc. | | Common and Preferred Stock 2,896 shares | | 93,251 | | |
| Shutterstock Inc. | | Common and Preferred Stock 833 shares | | 92,363 | | |
| 1-800-FLOWERS.COM Inc. Class A | | Common and Preferred Stock 3,906 shares | | 91,283 | | |
| Albemarle Corporation | | Common and Preferred Stock 390 shares | | 91,170 | | |
| Axogen Inc. | | Common and Preferred Stock 9,578 shares | | 89,746 | | |
| Cooper Companies Inc. | | Common and Preferred Stock 214 shares | | 89,653 | | |
| SpringWorks Therapeutics Inc. | | Common and Preferred Stock 1,431 shares | | 88,693 | | |
| Cal/Maine Foods Inc. | | Common and Preferred Stock 2,271 shares | | 84,004 | | |
| iShares Core S&P Small-Cap ETF | | Mutual Fund 711 units | | 81,417 | | |
| United Community Bank Blairsville Georgia | | Common and Preferred Stock 2,167 shares | | 77,882 | | |
| Designer Brands Inc. Class A | | Common and Preferred Stock 5,461 shares | | 77,601 | | |
| Exact Sciences Corporation | | Common and Preferred Stock 992 shares | | 77,207 | | |
| KB Home | | Common and Preferred Stock 1,723 shares | | 77,070 | | |
| Cano Health Inc. Class A | | Common and Preferred Stock 8,629 shares | | 76,884 | | |
| Northwestern Corporation | | Common and Preferred Stock 1,288 shares | | 73,622 | | |
| Flowserve Corporation | | Common and Preferred Stock 2,312 shares | | 70,747 | | |
| Xperi Holding Corporation | | Common and Preferred Stock 3,567 shares | | 67,452 | | |
| Mercury Systems Inc. | | Common and Preferred Stock 1,220 shares | | 67,173 | | |
| WSFS Financial Corporation | | Common and Preferred Stock 1,334 shares | | 66,860 | | |
| Viking Therapeutics Inc. | | Common and Preferred Stock 14,502 shares | | 66,709 | | |
| Infinera Corporation | | Common and Preferred Stock 6,887 shares | | 66,046 | | |
| CalAmp Corporation | | Common and Preferred Stock 9,231 shares | | 65,171 | | |
| PetIQ Inc. Class A | | Common and Preferred Stock 2,839 shares | | 64,474 | | |
| Heartland Express Inc. | | Common and Preferred Stock 3,678 shares | | 61,864 | | |
| Silgan Holdings Inc. | | Common and Preferred Stock 1,398 shares | | 59,890 | | |
| Banner Corporation | | Common and Preferred Stock 958 shares | | 58,122 | | |
| iShares Russell Mid-Cap ETF | | Mutual Fund 684 units | | 56,779 | | |
| Haemonetics Corporation | | Common and Preferred Stock 1,045 shares | | 55,427 | | |
| Oceaneering International Inc. | | Common and Preferred Stock 4,695 shares | | 53,100 | | |
| STAG Industrial Inc. | | Common and Preferred Stock 1,045 shares | | 50,118 | | |
| NexTier Oilfield Solutions Inc. | | Common and Preferred Stock 13,815 shares | | 49,043 | | |
| iShares Russell 2000 ETF | | Mutual Fund 196 units | | 43,600 | | |
| Alight Inc. Class A | | Common and Preferred Stock 3,663 shares | | 39,597 | | |
| eHealth Inc. | | Common and Preferred Stock 1,515 shares | | 38,633 | | |
| J & J Snack Foods Corporation | | Common and Preferred Stock 183 shares | | 28,907 | | |
| Talis Biomedical Corporation | | Common and Preferred Stock 4,505 shares | | 18,065 | | |
| Total U.S. Equity Asset Class | | | | | 163,414,122 | |
| | | | | | |
Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)
| | | | | | | | | | | | | | | | | | | | |
| Identity of Issue | | Description of Investment | | Current Value |
| U.S. Equity Index Asset Class: | | | | | |
| NT Collective Russell 3000 Index Fund / Non Lending* | | Collective Trust Fund 990,833 units | | 72,965,905 | | |
| Total U.S. Equity Index Asset Class | | | | | 72,965,905 | |
| | | | | | |
| International Equity Asset Class: | | | | | |
| Mawer International Equity Collective Investment Trust Class B* | | Collective Trust Fund 734,108 units | | 13,229,501 | | |
| Polaris Capital Management Collective Investment Trust International Value Collective Fund* | | Collective Trust Fund 1,035,731 units | | 12,257,148 | | |
| Reliance Trust Institutional Retirement Trust GQG Partners International Equity Fund Series 11 Class C* | | Collective Trust Fund 770,064 units | | 10,665,382 | | |
| Wilmington Trust Collective Investment Trust / Jennison International Equity Opportunities CIT Class J* | | Collective Trust Fund 669,574 units | | 8,182,199 | | |
| Dodge & Cox International Fund | | Mutual Fund 153,484 units | | 7,258,258 | | |
| NT Collective MSCI All Country World Index (ACWI) ex/US Index Fund / Non Lending* | | Collective Trust Fund 26,502 units | | 5,801,803 | | |
| Interest Bearing Cash | | Cash and Cash Equivalents 811 units | | 811 | | |
| Total International Equity Asset Class | | | | | 57,395,102 | |
| | | | | | |
| International Index Asset Class: | | | | | |
| NT Collective MSCI All Country World Index (ACWI) ex/US Index Fund / Non Lending (Tier J)* | | Collective Trust Fund 212,109 units | | 42,400,635 | | |
| BlackRock FTSE RAFI Emerging Index Non Lendable Fund F* | | Collective Trust Fund 1,675 units | | 7,742 | | |
| Total International Index Asset Class | | | | | 42,408,377 | |
| | | | | | |
| Participant Self-Directed Accounts | | Various Investments | | 11,245,694 | | |
| | | | | | 11,245,694 | |
| | | | | | |
| Notes Receivable from Participants* | | Interest Rate 4.25% - 9.25% | | 14,995,778 | | |
| | | | | | 14,995,778 | |
| | | | | | |
| Other | | | | | |
| Vanguard Federal Money Market | | Cash and Cash Equivalents 40,688 units | | 40,688 | | |
| NT Collective Short Term Investment Fund* | | Collective Trust Fund 1,342 units | | 1,342 | | |
| Total Other | | | | | 42,030 | |
| | | | | | |
| Grand Total | | | | | $ | 684,934,403 | |
| | | | | | |
| | | | | | | | | | | | | | |
| | | | |
| * Indicates party-in-interest | | | | |
THE RETIREMENT AND SAVINGS PLAN FOR
AMGEN MANUFACTURING, LIMITED
INDEX TO EXHIBIT
SIGNATURES
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 its behalf by the undersigned hereunto duly authorized.
| | | | | | | | | | | | | | | | | | | | |
| | | | The Retirement and Savings Plan for Amgen Manufacturing, Limited (Name of Plan) |
| | | | | | |
| Date: | June 23, 2022 | | | By: | | /s/ PETER H. GRIFFITH |
| | | | | | Peter H. Griffith |
| | | | | | Deputy Chairman and Chief Financial Officer |
| | | | | | Amgen Manufacturing, Limited |
