Table of Contents
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
☒ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2018
OR
☐ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File Number:1-8610
A. | Full title of the plan and the address of the plan, if different from that of the issuer named below: |
WARNER MEDIA, LLC SAVINGS PLAN
B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
AT&T INC.
208 S. Akard, Dallas, Texas 75202
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES
YEARS ENDED DECEMBER 31, 2018 AND 2017
Page | ||||
1 | ||||
Financial Statements | ||||
2 | ||||
3 | ||||
4 | ||||
Supplemental Schedules | ||||
13 | ||||
Schedule H, Part IV, Line 4(a) – Schedule of Delinquent Participant Contributions | 14 | |||
Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year) | 15 |
Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Plan Participants and the Plan Administrator of Warner Media, LLC Savings Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of Warner Media, LLC Savings Plan (formerly, Time Warner Savings Plan) (the Plan) as of December 31, 2018 and 2017, and the related statements of changes in net assets available for benefits for the years then ended, 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, 2018 and 2017, and the changes in its net assets available for benefits for the years then ended, 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
The accompanying supplemental schedules of loans or fixed income obligations in default or classified as uncollectible, delinquent participant contributions and assets (held at end of year) as of December 31, 2018 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedules 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 schedules. 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 at least 1982, but we are unable to determine the specific year.
New York, New York
June 28, 2019
1
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(thousands)
December 31, | ||||||||
2018 | 2017 | |||||||
Investments at fair value: | ||||||||
Commingled trust funds | $ | 1,854,394 | $ | 1,909,766 | ||||
Time Warner common stock | — | 339,175 | ||||||
AT&T common stock | 294,137 | — | ||||||
Other common stocks | 1,532,472 | 1,634,589 | ||||||
Mutual funds | 348,664 | 363,486 | ||||||
U.S. government and agency securities | 261,992 | 237,901 | ||||||
Other fixed income securities | 212,240 | 193,105 | ||||||
Cash, cash equivalents and other investments | 59,008 | 41,389 | ||||||
|
|
|
| |||||
Total investments at fair value | 4,562,907 | 4,719,411 | ||||||
Investments at contract value: | ||||||||
Synthetic investment contracts | 530,792 | 510,294 | ||||||
|
|
|
| |||||
Total investments | 5,093,699 | 5,229,705 | ||||||
Contributions receivable: | ||||||||
Employing company | 11,269 | 13,554 | ||||||
Participants | 982 | 3,737 | ||||||
Notes receivable from participants | 61,257 | 61,789 | ||||||
Receivables for securities sold | 191,375 | 200,573 | ||||||
Other assets | 7,871 | 5,758 | ||||||
|
|
|
| |||||
Total assets | 5,366,453 | 5,515,116 | ||||||
|
|
|
| |||||
Payables for securities purchased | 358,588 | 324,124 | ||||||
Other liabilities | 5,485 | 6,411 | ||||||
|
|
|
| |||||
Total liabilities | 364,073 | 330,535 | ||||||
|
|
|
| |||||
Net assets available for benefits | $ | 5,002,380 | $ | 5,184,581 | ||||
|
|
|
|
See accompanying notes.
2
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
(thousands)
Year Ended December 31, | ||||||||
2018 | 2017 | |||||||
Net assets available for benefits at beginning of year | $ | 5,184,581 | $ | 4,473,724 | ||||
Changes in net assets: | ||||||||
Investment income, net of fees | 59,796 | 47,306 | ||||||
Net realized and unrealized (depreciation) appreciation in the fair value of investments | (258,865 | ) | 655,785 | |||||
|
|
|
| |||||
Net investment (loss) income | (199,069 | ) | 703,091 | |||||
Employing company contributions | 143,979 | 137,285 | ||||||
Participant contributions, including rollover contributions | 205,097 | 188,848 | ||||||
Participant loan interest income | 4,349 | 3,837 | ||||||
Participant withdrawals | (334,660 | ) | (320,154 | ) | ||||
Administrative expenses | (1,897 | ) | (2,050 | ) | ||||
|
|
|
| |||||
Net change | (182,201 | ) | 710,857 | |||||
|
|
|
| |||||
Net assets available for benefits at end of year | $ | 5,002,380 | $ | 5,184,581 | ||||
|
|
|
|
See accompanying notes.
3
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 2018
1. Description of the Plan
The following is an abbreviated description of the Warner Media, LLC Savings Plan (formerly known as the Time Warner Savings Plan) (the “Plan”). Warner Media, LLC (“WarnerMedia”), the successor by Merger (as defined below) to Time Warner Inc. (“Time Warner”), is the Plan sponsor. More complete descriptions of the Plan are provided in the Plan documents, as amended, and the summary plan description/prospectus. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
General
The Plan is a defined contribution profit sharing plan with a 401(k) feature generally covering eligible employees of WarnerMedia (formerly Time Warner) and certain of its subsidiaries and affiliates (each, an “Employing Company” and, collectively, the “Employing Companies”).
The Plan is the only participating plan in the Time Warner Defined Contribution Plans Master Trust (the “Master Trust”) and is a “Qualified Automatic Contribution Arrangement” in accordance with the Internal Revenue Code of 1986, as amended (the “Code”), and thus is exempt from nondiscrimination testing.
On June 14, 2018, Time Warner merged into a direct, wholly owned subsidiary of AT&T Inc. (“AT&T”) through a series of related transactions (the “Merger”). As a result of the Merger, each share of Time Warner stock was exchanged for $53.75 cash plus 1.437 shares of AT&T common stock.
Effective July 1, 2018, the Plan was amended to change the name of the Plan to the Warner Media, LLC Savings Plan.
The approval of the Merger Agreement by the Time Warner board of directors on October 22, 2016 constituted a change in control of Time Warner under the terms of the Plan, and, as a result, the current and future Employing Company Contributions (as defined below) of Plan participants who were actively employed on October 22, 2016 became fully vested. The Employing Company Contributions of Plan participants who became employed by an Employing Company after October 22, 2016 are subject to the regular vesting schedule under the Plan.
Investment Funds, Contributions and Vesting
The Plan provides for multiple investment funds made available through the trustee of the Master Trust, Fidelity Management Trust Company (“Fidelity”), pursuant to the Master Trust. The Plan’s investment funds consist of four asset allocation (target risk) funds and 14 core investment funds (ten of which are actively managed and four of which are index funds). The Plan also offers a self-directed brokerage option that is limited to mutual funds. Participant contributions, Matching Contributions (as defined below) and Rollovers (as defined below) may generally be invested in specified increments in the investment funds. Participants may periodically transfer account balances among the investment funds offered under the Plan.
Following the close of the Merger, the Time Warner Inc. Stock Fund was replaced with the AT&T Inc. Stock Fund. Each share of Time Warner common stock held in the Time Warner Inc. Stock Fund was exchanged for the merger consideration described above, and the independent fiduciary for the fund was charged with determining when and how to purchase additional shares of AT&T common stock with the cash portion of the merger consideration.
Contributions or investment fund transfers into the AT&T Inc. Stock Fund (formerly the Time Warner Inc. Stock Fund), an employee stock ownership plan component of the Plan, are prohibited, but Plan participants who hold AT&T common stock or previously held Time Warner common stock in this fund have the option of reinvesting cash dividends paid by AT&T and formerly Time Warner on its common stock through this fund or receiving a cash dividend distribution. During 2018 and 2017, Plan participants elected to receive $3.0 million and $6.3 million, respectively, in Time Warner cash dividend distributions. During 2018, post-merger, Plan participants elected to receive $10.7 million in AT&T cash dividend distributions. These dividend distributions are included with participant withdrawals on the Statements of Changes in Net Assets Available for Benefits.
Generally, the Plan provides for voluntary participant contributions on a pre-tax basis at an elected percentage of a participant’s eligible compensation, up to an annual limit established by the Internal Revenue Service (“IRS”). The elective deferral amount for employees is 2% to 50% (in whole percentages) for the pre-tax contributions, subject to the limit established by the IRS.
4
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS – (Continued)
After two months of continuous employment (or, with respect to employees classified as hourly or temporary employees, after 1,000 hours of credited service in any one year), matching contributions by Employing Companies (“Matching Contributions”) are made as a percentage of a participant’s contributions to the Plan and are capped at certain percentages of the participant’s eligible compensation deferred.
All newly eligible Plan participants and employees classified as hourly or temporary employees who are credited with at least 1,000 hours of service in any one year are automatically enrolled in the Plan at a pre-tax contribution rate of 3%, unless they change their contribution rate or opt out of the Plan. Unless participants who are automatically enrolled in the Plan elect otherwise, their contribution rate automatically increases by an additional 1% of eligible compensation beginning on the first anniversary of their automatic enrollment date and will continue to increase by an additional 1% of eligible compensation annually until the 6% maximum pre-tax contribution rate for automatic contributions is reached. These participant contributions and Matching Contributions are invested in the Qualified Default Investment Alternative (the Growth Asset Allocation Fund), unless participants elect other investment option(s). Participants who are automatically enrolled in the Plan may change their contribution rate or opt out of the Plan at any time.
Matching Contribution rates for eligible Plan participants are consistent across all participating Employing Companies at a rate of 1331⁄3% on up to the first 3% of eligible compensation deferred and 100% on up to the next 3% of eligible compensation deferred.
Participants are allowed to transfer amounts from certain other tax qualified plans to the Plan (“Rollovers”). Rollovers are included as participant contributions in the Statements of Changes in Net Assets Available for Benefits. Rollovers for 2018 and 2017 were $30.4 million and $24.8 million, respectively.
Matching Contributions and any other amounts contributed by an Employing Company, including those transferred into the Plan, are deemed Employing Company contributions (“Employing Company Contributions”). Each participant’s account is credited with the participant’s contributions, Rollovers, Employing Company Contributions and any earnings or losses thereon, as appropriate. Participant contributions, Rollovers and any earnings thereon are fully vested.
Other than Employing Company Contributions that became fully vested on October 22, 2016 in connection with the change in control described above, Matching Contributions and earnings thereon generally vest 100% upon the completion of two years of service (or for eligible temporary and hourly employees, the completion of periods of service established by the Plan).
Matching Contributions and any earnings thereon also become fully vested upon a participant’s termination of service due to death or disability, attainment of age 65, or upon the termination of the Plan.
Forfeited Accounts
Forfeited Employing Company Contributions and earnings thereon may be used to reduce future Employing Company Contributions to the Plan and/or to pay Plan expenses. See the table below for forfeiture activity for the years ended December 31, 2018 and 2017 (thousands).
December 31, 2018 | December 31, 2017 | |||||||
Balance at beginning of period | $ | 60 | $ | 427 | ||||
Additions to forfeiture balance | 3,154 | 2,970 | ||||||
Forfeitures utilized | (3,163 | ) | (3,337 | ) | ||||
|
|
|
| |||||
Balance at end of period | $ | 51 | $ | 60 | ||||
|
|
|
|
5
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS – (Continued)
Notes Receivable From Participants
Under the Plan, subject to certain restrictions and penalties, participants may withdraw amounts and/or take loans from their accounts. The maximum number of loans a participant may have outstanding is limited to three at any one time, in the form of either one primary residence loan and two general loans or three general loans; provided, however, that if the primary residence loan was obtained by December 31, 2007, it does not limit the availability of the three general loans. The minimum loan amount is $1,000 and the maximum loan amount is $50,000.
Loans are valued at their outstanding balances, which approximate fair value, and are treated as transfers between the individual investment funds and the participant loan fund. Loan terms may be for up to five years or 15 years if for the purchase of a primary residence. Participants who have transferred accounts to the Plan with existing loans for the purchase of a primary residence may have loan terms of up to 30 years based on the provisions of the plan from which the original loan was obtained. Interest rates charged for loans originated under the Plan within any quarter are set at the prime rate in effect on the first day of such quarter plus 1%. Participants who have transferred accounts to the Plan with existing loans may be subject to different interest rates on those loans, as set in accordance with the provisions of the plan from which the original loan was obtained. Interest rates on outstanding participant loans as of December 31, 2018 and 2017 ranged from 4.25% to 10.50%.
Payment of Benefits
In-service withdrawals are available in certain limited circumstances, as provided under the Plan. Hardship withdrawals are allowed for participants incurring an “immediate and heavy financial need,” as defined by the Plan. Hardship withdrawals are strictly regulated under the Code and the regulations thereunder, and a participant must exhaust all available loan options and available distributions prior to requesting a hardship withdrawal.
Generally, on termination of service, participants are eligible to receive the vested portion of their account in a lump sum. However, subject to certain restrictions, the Plan permits other payment options. In addition, at the option of the participant, the commencement of payments may be deferred, subject to certain limitations. Benefits distributed from all investment funds in the Plan will be paid in cash, except for benefits distributed from the AT&T Inc. Stock (formerly the Time Warner Inc. Stock Fund), which also offers shares of AT&T common stock (previously Time Warner common stock) as a distribution election. Fractional shares are paid in cash.
Plan Termination
Although it has not expressed any intent to do so, WarnerMedia reserves the right to discontinue Employing Company Contributions or to terminate or modify the Plan at any time. In the event of termination of the Plan, participants will become fully vested in their accounts and the net assets of the Plan will be distributed to participants in accordance with the Plan’s provisions and applicable law.
2. Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation
The accompanying financial statements have been prepared on the accrual basis of accounting. Costs and expenses incurred for the purchase, sale or transfer of investments reflected in the accompanying financial statements are considered a cost of the investment or a reduction in the proceeds of a sale, as appropriate. Investment management fees and certain administrative costs are paid by the Plan’s investment funds and are included in Investment income, net of fees in the Statements of Changes in Net Assets Available for Benefits.
Payment of Benefits
Participant withdrawals are recorded when paid.
6
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS – (Continued)
Administrative Expenses
Certain administrative costs are charged to the Plan as permitted under ERISA, including, for example, fees for auditing, recordkeeping, custodial and trustee services. Other administrative costs, such as compensation of employees responsible for the administration of the Plan, are paid by Plan Sponsor.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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.
Investment Valuation and Income Recognition
Investments held by the Plan, other than synthetic investment contracts, are stated at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). See Note 4 for additional information and disclosures related to fair value measurements.
Synthetic investment contracts are valued at contract value, which represents contributions made under the contract, plus interest at the contract rate, less withdrawals under the contract.
Purchases and sales of securities are recorded on a trade-date basis and trades of securities that have not settled are reported as receivables or payables, respectively, for securities sold or purchased. Interest income is recorded as earned. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation in the fair value of investments includes the Plan’s gains and losses on investments bought and sold as well as held during the year.
Recent Accounting Standards
In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update No. 2018-09 “Codification Improvements” (ASU-2018-09). ASU 2018-09 requires a plan to evaluate its investments to determine whether a readily determinable fair value exists or if investments qualify for the net asset value per share practical expedient and can be excluded from the fair value hierarchy disclosure. The new standard is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Plan is not early adopting this standard.
3. Investments
Plan investments are made in a variety of investment securities that are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of these investments, it is possible that changes in values could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits.
The Capital Preservation Fund, an investment fund available in the Plan, includes fully benefit-responsive synthetic investment contracts that are valued at contract value in the Statements of Net Assets Available for Benefits. In a synthetic investment contract, debt securities (such as fixed-income, asset-backed and mortgage-backed securities) are purchased and then a financial institution agrees to provide for liquidity and an adjustable rate of return thereon (a “Wrapper”), which, when taken together with the underlying securities, generally results in a guaranteed return of principal and accrued interest. As required for the IRS Form 5500 filing, these investments are valued at fair value in the Schedule of Assets (Held at End of Year). See Note 7 for a reconciliation of the financial statements to the Form 5500.
The Capital Preservation Fund and the Wrapper contracts purchased by that fund are designed to pay all participant-initiated transactions at contract value. However, the Wrapper contracts limit the ability of the fund to transact at contract value upon the occurrence of certain events. These events include, but are not limited to:
• | complete or partial termination of the Plan; |
• | any change in law, regulation or administrative ruling applicable to the Plan that could have a material adverse effect on the fund’s cash flow; |
7
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS – (Continued)
• | merger or consolidation of the Plan with another plan, the transfer of Plan assets to another plan, or the sale, spin-off or merger of a subsidiary or division of the Plan sponsor; and |
• | any early retirement program, group termination, group layoff, facility closing or similar program. |
At this time, the occurrence of an event that would limit the ability of the Capital Preservation Fund to transact at contract value is not probable.
A Wrapper issuer may terminate a Wrapper contract at any time by providing the appropriate notification. In the event that the market value of the Capital Preservation Fund’s covered assets is below their contract value at the time of such termination, Fidelity, as the Capital Preservation Fund’s investment manager, may elect to keep the Wrapper contract in place through another Wrapper provider until such time as the market value of the Capital Preservation Fund’s covered assets is equal to their contract value. Plan participants will continue to receive the Capital Preservation Fund’s Crediting Rate (as defined below).
Interest income in the Capital Preservation Fund is accrued at the weighted-average return of individual fund investments, net of investment management and certain administrative fees (the “Crediting Rate”). The Crediting Rate is calculated daily. Wrapper contracts use the Crediting Rate formula to convert market value changes in the underlying assets into income distributions in order to minimize the difference between the market and contract value of the underlying assets over time. Using the Crediting Rate formula, an estimated future market value is calculated by compounding a portfolio’s current market value at such portfolio’s current yield to maturity for a period equal to such portfolio’s duration. The Crediting Rate is the discount rate that equates that estimated future market value with such portfolio’s current contract value. Crediting Rates are reset monthly. The Wrapper contracts are designed so that the Crediting Rate will not fall below 0%.
Certain investment managers of investment funds offered under the Plan are authorized to use derivative financial instruments, either directly or within a commingled fund structure, in accordance with established guidelines of the investment funds. Derivative financial instruments may be used for the purpose of managing interest rate and foreign exchange risk, and for yield enhancement. Changes in the fair value of derivative financial instruments are recorded in the Statements of Changes in Net Assets Available for Benefits; therefore, no gains or losses are deferred. At December 31, 2018 and 2017, the fair value of derivative financial instruments held by the Plan was not material. The derivative financial instruments held by the Plan at December 31, 2018 and 2017 consisted of interest rate and credit default swap contracts, futures contracts and interest rate option contracts.
4. Fair Value Measurements
ASC 820, Fair Value Measurement, establishes a framework for measuring fair value. That framework provides a fair value hierarchy that 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 or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
Level 1 | Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access. |
Level 2 | Inputs to the valuation methodology include: |
• | Quoted prices for similar assets and liabilities in active markets; |
• | Quoted prices for identical or similar assets or liabilities in inactive markets; |
• | Inputs other than quoted market prices that are observable for the asset or liability; |
• | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.
Level 3 | Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. |
8
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS – (Continued)
Valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Plan management believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used at December 31, 2018 and 2017.
The following table presents information about the Plan’s assets and liabilities required to be carried at fair value on a recurring basis as of December 31, 2018 and 2017 (thousands):
December 31, 2018 | December 31, 2017 | |||||||||||||||||||||||
Asset Category | Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | ||||||||||||||||||
Assets | ||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
AT&T common stock | $ | 294,137 | $ | — | $ | 294,137 | $ | — | $ | — | $ | — | ||||||||||||
Time Warner common stock | — | — | — | 339,175 | — | 339,175 | ||||||||||||||||||
Other common stocks | 1,532,472 | — | 1,532,472 | 1,634,589 | — | 1,634,589 | ||||||||||||||||||
Mutual funds(a) | 348,664 | — | 348,664 | 363,486 | — | 363,486 | ||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
U.S. government and agency securities | — | 261,992 | 261,992 | — | 237,901 | 237,901 | ||||||||||||||||||
Other fixed income securities | — | 212,240 | 212,240 | — | 193,105 | 193,105 | ||||||||||||||||||
Cash, cash equivalents and other investments: | ||||||||||||||||||||||||
Cash and cash equivalents | 33,108 | 25,299 | 58,407 | 28,545 | 12,272 | 40,817 | ||||||||||||||||||
Derivatives | 323 | 278 | 601 | 133 | 439 | 572 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Assets | 2,208,704 | 499,809 | 2,708,513 | 2,365,928 | 443,717 | 2,809,645 | ||||||||||||||||||
Liabilities | ||||||||||||||||||||||||
Derivatives | (41 | ) | (443 | ) | (484 | ) | (11 | ) | (275 | ) | (286 | ) | ||||||||||||
U.S. government and agency securities | — | (1,079 | ) | (1,079 | ) | — | (2,150 | ) | (2,150 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 2,208,663 | $ | 498,287 | $ | 2,706,950 | $ | 2,365,917 | $ | 441,292 | $ | 2,807,209 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) | At December 31, 2018 and 2017, mutual funds consisted of Fidelity Brokerage Link, DFA Emerging Markets Core Equity Portfolio Institutional Class Fund, PIMCO Priv ABS Sector Fund, PIMCO Short Term Floating NAV Portfolio II, and Fidelity Investments Money Market Government Portfolio. |
Investments that are measured at fair value using the net asset value per share as a practical expedient have not been categorized in the fair value table above and are as follows (thousands):
December 31, | ||||||||
Asset Category | 2018 | 2017 | ||||||
Commingled trust funds(a) | $ | 1,854,394 | $ | 1,909,766 |
(a) | At December 31, 2018, approximately 25% of the underlying securities held in commingled trust funds consisted of marketable fixed income securities and approximately 75% consisted of equity securities. At December 31, 2017, approximately 24% of the underlying securities held in commingled trust funds consisted of marketable fixed income securities and approximately 76% consisted of equity securities. |
9
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS – (Continued)
There were no assets classified as Level 3 at December 31, 2018 or 2017.
Investments are recorded by the Plan on a trade date basis at fair value or contract value, as applicable. The following is a description of the valuation methodologies used for assets measured at fair value.
Commingled trust funds: Valued at the net asset value per unit at year end as reported to Fidelity by each fund company managing such trusts. Investments in the underlying commingled trust funds can generally be redeemed daily at net asset value.
Equity securities: Valued at the closing price at year end as reported on the active market on which the individual securities are traded.
Mutual funds: Valued at the closing price of shares held by the Plan at year end.
Fixed income securities: Valued at the closing price at year end as reported on the active market on which the individual securities are traded. Securities not traded on an active market are valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar securities, the securities are valued using a discounted cash flows approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. Due to the subjectivity involved in this assessment, these investments may be classified in Level 3 of the fair value hierarchy. As of December 31, 2018 and 2017, there were no fixed income securities classified as level 3.
Cash equivalents and other investments: Cash equivalents consist of investments in short-term investment funds and money market funds valued at net asset value per unit equal to one dollar at year end. Other investments can consist of certificates of deposit, commercial paper, repurchase agreements, warrants, and futures, option and swap contracts. Certificates of deposit and repurchase agreements are valued at amortized cost, which approximates fair value. Commercial paper is valued using broker quotes that utilize observable market inputs. Warrants are valued based on the relationship of the exercise price to the value of the underlying security. Futures and option contracts are generally valued at closing settlement prices. Swap contracts are marked-to-market as the net amount due to and from the Plan in accordance with the terms of the contract based on the closing level of the relevant market rate of interest.
5. Transactions with Parties-in-Interest
Under the terms of the Plan and the Master Trust, WarnerMedia (formerly Time Warner) may elect to contribute shares of AT&T common stock (formerly Time Warner common stock) and/or cash for Employing Company Contributions to the Plan. There were no shares of Time Warner or AT&T common stock contributed in 2018 or 2017 as Employing Company Contributions to the Plan. The Plan may also purchase or sell shares of AT&T common stock (formerly Time Warner common stock) directly from or to AT&T (formerly Time Warner). There were no purchases or sales of either common stock by the Plan directly from or to AT&T or Time Warner in 2018 or 2017.
Certain Plan investments are managed by Fidelity. Fidelity has appointed JP Morgan Chase and State Street Bank to act as individual sub-custodians for certain Plan investments. Therefore, Fidelity’s management of such Plan investments and JP Morgan Chase’s and State Street Bank’s holdings of such investments as sub-custodians qualify as party-in-interest transactions; however, these transactions are exempt from the prohibited transaction rules under ERISA.
In addition, certain of the Plan’s investments are securities that have been issued by the Plan’s investment managers, custodian, sub-custodians, other service providers and their affiliated entities. The Plan’s investments in these securities also qualify as party-in-interest transactions; however, these transactions are exempt from the prohibited transactions rules under ERISA.
6. Tax Status of Plan
The Plan has received a determination letter from the IRS, dated April 14, 2015, stating that the Plan is qualified under Section 401(a) of the Code, subject to the Company’s adoption of certain amendments to the Plan. The Plan has been amended to comply with the determination letter issued by the IRS. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualified status. The plan administrator believes the Plan is being operated in compliance with the applicable requirements of the Code and therefore believes the Plan, as amended, is qualified and the related trust is tax exempt. The Plan is subject to audits, from time to time, by various authorities. The plan administrator believes the Plan’s information statement on Form 5500 is subject to examination for years after 2015.
10
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS – (Continued)
7. Reconciliation to Form 5500
The net assets of the Plan that are attributed to fully benefit-responsive investment contracts will be recorded at fair value on the 2018 IRS Form 5500 and related schedules. The following is a reconciliation of the Plan’s net assets available for benefits and changes in net assets available for benefits between the financial statements and Form 5500 (thousands):
December 31, | ||||||||
2018 | 2017 | |||||||
Net assets available for benefits per the financial statements | $ | 5,002,380 | $ | 5,184,581 | ||||
Adjustment from contract value to fair value for fully benefit-responsive investment contracts | (5,358 | ) | (509 | ) | ||||
|
|
|
| |||||
Net assets per the Form 5500 | $ | 4,997,022 | $ | 5,184,072 | ||||
|
|
|
|
Year Ended December 31, 2018 | ||||
Net investment loss per the financial statements | $ | (199,069 | ) | |
Reversal of prior year adjustment from contract value to fair value for fully benefit-responsive investment contracts | 509 | |||
Adjustment from contract value to fair value for fully benefit-responsive investment contracts | (5,358 | ) | ||
|
| |||
Net investment loss per the Form 5500 | $ | (203,918 | ) | |
|
|
11
Table of Contents
Supplemental Schedules
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan: #336
Schedule G, Part I—Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible
December 31, 2018
Amount Received During Reporting Year | Amount Overdue | |||||||||||||||||||||||||||
(a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | ||||||||||||||||||||
Party-in Interest | Identity and Address of Obligor | Detailed Description of Loan Including Dates of Making and Maturity, Interest Rate, the Type and Value of Collateral, any Renegotiation of the Loan and the Terms of the Renegotiation and Other Material Items | Original Amount of Loan | Principal | Interest | Unpaid Balance at End of Year | Principal | Interest | ||||||||||||||||||||
Kaupthing Bank | KAUPTHING BK 5.75% 10/4/11 144A | $ | 120,000 | $ | — | $ | — | $ | 120,000 | $ | 120,000 | $ | — | |||||||||||||||
Kaupthing Bank | KAUPTHING BK 7.625% 2/28/15 | 1,177,000 | — | — | 1,177,000 | 1,177,000 | — | |||||||||||||||||||||
Landsbankinn | LANDSBANK IS MTN 6.1% 8/25/11 | 641,000 | — | — | 641,000 | 641,000 | — |
13
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan: #336
Schedule H, Part IV, Line 4(a) – Schedule of Delinquent Participant Contributions
December 31, 2018
Participant Contributions Transferred Late to the Plan | Total That Constitute Nonexempt Prohibited Transactions | |||||||||||||||||
Check Here if Late Participant Loan Repayments are included: | Contributions Not Corrected | Contributions Corrected Outside VCFP | Contributions Pending Correction in VCFP | Total Fully Corrected Under VCFP and PTE 2002-51 | ||||||||||||||
$ | 30,319 | $ | 30,319 | $ | — | $ | — | N/A |
14
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
Commingled Trust Funds | ||||||
5,469,956 | BlackRock Equity Index - Fund T* | $ | 553,539,357 | |||
2,614,331 | BlackRock Extended Equity - Market Fund K* | 242,759,751 | ||||
17,031,759 | Blackrock MSCI ACWI ex-u.s. IMI Index Fund M* | 206,637,818 | ||||
10,971,835 | Blackrock MSCI ACWI Minimum Volatility Index Fund F* | 134,843,849 | ||||
21,172,527 | Blackrock US Debt Index Fund W* | 458,557,819 | ||||
4,846,408 | FIAM Select Global Plus* | 80,208,050 | ||||
16,917,554 | TS&W International Large Cap Equity Trust* | 177,847,481 | ||||
|
| |||||
Total Commingled Trust Funds | $ | 1,854,394,125 | ||||
10,306,145 | AT&T Common Stock* | $ | 294,137,378 | |||
Other Common Stocks | ||||||
106,890 | 2U INC | $ | 5,314,571 | |||
18,500 | ABBOTT LABORATORIES | 1,338,105 | ||||
10,072 | ACCELERON PHARMA INC | 438,636 | ||||
13,989 | ACTIVISION BLIZZARD INC | 651,468 | ||||
21,835 | ADOBE INC | 4,939,950 | ||||
68,600 | ADTALEM GLOBAL EDUCATION INC | 3,246,152 | ||||
71,090 | ADVANCED DISPOSAL SERVICES INC | 1,701,895 | ||||
610,000 | AEGON NV (NY REGD) NEW YORK REGISTERED SHARES | 2,836,500 | ||||
3,400 | AGILENT TECHNOLOGIES INC | 229,364 | ||||
10,200 | AGIOS PHARMACEUTICALS INC | 470,322 | ||||
1,899 | AIR PRODUCTS & CHEMICALS INC | 303,935 | ||||
8,125 | ALASKA AIR GROUP INC | 494,406 | ||||
23,742 | ALDER BIOPHARMACEUTICALS INC | 243,356 | ||||
24,617 | ALEXION PHARMACEUTICALS INC | 2,396,711 | ||||
104,207 | ALIBABA GROUP HOLDING LTD SPON ADR | 14,283,653 | ||||
9,700 | ALIGN TECHNOLOGY INC | 2,031,471 | ||||
93,072 | ALLSCRIPTS HLTHCARE SOLS INC | 897,214 | ||||
25,700 | ALNYLAM PHARMACEUTICALS INC | 1,873,787 | ||||
16,785 | ALPHABET INC CL A | 17,539,654 | ||||
47,535 | ALPHABET INC CL C | 49,227,722 | ||||
43,112 | AMAZON.COM INC | 64,752,931 | ||||
17,513 | AMERICAN AIRLINES GROUP INC | 562,342 | ||||
145,000 | AMERICAN EXPRESS CO | 13,821,400 | ||||
14,139 | AMERICAN INTERNATIONAL GROUP | 557,218 | ||||
632 | AMERICAN TOWER CORP | 99,976 | ||||
473 | AMERIPRISE FINANCIAL INC | 49,367 |
15
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
78,275 | AMETEK INC NEW | $ | 5,299,218 | |||
225,000 | ANADARKO PETROLEUM CORP | 9,864,000 | ||||
3,618 | ANAPTYSBIO INC | 230,792 | ||||
23,346 | ANTHEM INC | 6,131,360 | ||||
235,059 | APACHE CORP | 6,170,299 | ||||
5,639 | APPFOLIO INC - A | 333,942 | ||||
79,712 | APPLE INC | 12,573,770 | ||||
80,779 | APTIV PLC | 4,973,563 | ||||
53,984 | ARES MANAGEMENT CORP CL A | 959,836 | ||||
100,800 | ASGN INC | 5,493,600 | ||||
20,192 | ASPEN TECHNOLOGIES | 1,659,379 | ||||
101,437 | ASSOCIATED BANC CORP | 2,007,438 | ||||
300,000 | ASTRAZENECA PLC SPONS ADR | 11,394,000 | ||||
114,490 | ATKORE INTERNATIONAL GROUP INC | 2,271,482 | ||||
16,100 | AUTODESK INC | 2,070,621 | ||||
3,100 | AUTOMATIC DATA PROCESSING INC | 406,472 | ||||
310,030 | BAKER HUGHES A GE CO | 6,665,645 | ||||
34,427 | BALL CORP | 1,582,953 | ||||
592,600 | BANK OF AMERICA CORPORATION | 14,601,664 | ||||
265,000 | BANK OF NEW YORK MELLON CORP | 12,473,550 | ||||
24,018 | BANKUNITED INC | 719,099 | ||||
112,200 | BB&T CORP | 4,860,504 | ||||
147,355 | BEACON ROOFING SUPPLY INC | 4,674,101 | ||||
35,886 | BECTON DICKINSON & CO | 8,085,834 | ||||
50,730 | BELDEN INC | 2,118,992 | ||||
33,010 | BENEFICIAL BANCORP INC | 471,713 | ||||
81 | BIOGEN INC | 24,375 | ||||
13,832 | BIOHAVEN PHARMACEUTICAL HOLDING CO LTD | 511,507 | ||||
44,630 | BLACK HILLS CORP | 2,801,871 | ||||
79,500 | BLACK KNIGHT INC | 3,582,270 | ||||
14,029 | BLACKBAUD INC | 882,424 | ||||
34,494 | BLACKLINE INC | 1,412,529 | ||||
48,357 | BOEING CO | 15,595,133 | ||||
91,000 | BOSTON SCIENTIFIC CORP | 3,215,940 | ||||
106,320 | BRIGHT HORIZONS FAMILY SOLUTIONS INC | 11,849,364 | ||||
59,000 | BRIGHTHOUSE FINANCIAL INC | 1,798,320 | ||||
210,000 | BRISTOL-MYERS SQUIBB CO | 10,915,800 | ||||
1,549 | BROADCOM INC | 393,880 | ||||
6,977 | BROADRIDGE FINANCIAL SOL | 671,536 | ||||
131,044 | BWX TECHNOLOGIES INC | 5,009,813 | ||||
26,299 | CACTUS INC CL A | 720,856 |
16
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
8,747 | CALAVO GROWERS INC | $ | 638,181 | |||
6,282 | CANADIAN PAC RAILWAY LTD | 1,115,809 | ||||
194,500 | CAPITAL ONE FINANCIAL CORP | 14,702,255 | ||||
69,696 | CARROLS RESTAURANT GROUP INC | 685,809 | ||||
10,713 | CASEY GENERAL STORES | 1,372,764 | ||||
85,945 | CATALENT INC | 2,679,765 | ||||
1 | CBOE GLOBAL MARKETS INC | 98 | ||||
61,000 | CELANESE CORP | 5,488,170 | ||||
48,450 | CELGENE CORP | 3,105,160 | ||||
19,213 | CENTENE CORP | 2,215,259 | ||||
24,210 | CHARLES RIVER LABS INTL INC | 2,740,088 | ||||
59,078 | CHARTER COMMUNICATIONS INC A | 16,835,458 | ||||
53,493 | CHEGG INC | 1,520,271 | ||||
29,350 | CHEMICAL FINANCIAL CORP | 1,074,504 | ||||
6,800 | CHIPOTLE MEXICAN GRILL INC | 2,936,172 | ||||
27,895 | CHOICE HOTELS INTL INC | 1,996,724 | ||||
5,466 | CHUBB LTD | 706,098 | ||||
107,835 | CIGNA CORP | 20,480,023 | ||||
20,082 | CINTAS CORP | 3,373,575 | ||||
200,700 | CISCO SYSTEMS INC | 8,696,331 | ||||
2,000 | CITIGROUP INC | 104,120 | ||||
52,385 | CLARUS CORP | 530,136 | ||||
34,071 | COGENT COMMUNICATIONS HOLDINGS INC | 1,540,350 | ||||
20,453 | COHERUS BIOSCIENCES INC | 185,100 | ||||
26,578 | COLUMBIA BANKING SYSTEMS INC | 964,516 | ||||
843,395 | COMCAST CORP CL A | 28,717,600 | ||||
67,880 | COMMERCIAL METALS CO | 1,087,438 | ||||
56,163 | COMMVAULT SYSTEMS INC | 3,318,672 | ||||
32,500 | CONCHO RESOURCES INC | 3,340,675 | ||||
31,009 | CONNECTONE BANCORP INC | 572,736 | ||||
600 | CONSTELLATION BRANDS INC CL A | 96,492 | ||||
16,075 | CORELOGIC INC | 537,227 | ||||
21,490 | CORE-MARK HOLDING CO INC | 499,643 | ||||
2,792 | CORNING INC | 84,346 | ||||
28,797 | COSTAR GROUP INC | 9,714,380 | ||||
3,875 | COUPA SOFTWARE INC | 243,583 | ||||
166,350 | CRAY INC | 3,591,497 | ||||
26,560 | CROWN HOLDINGS INC | 1,104,099 | ||||
26,333 | CSX CORP | 1,636,069 | ||||
744 | CTRIP.COM INTL LTD ADR | 20,133 | ||||
76,900 | CVS HEALTH CORP | 5,038,488 | ||||
73,300 | DANAHER CORP | 7,558,696 |
17
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
45,744 | DELL TECHNOLOGIES INC CL C | $ | 2,235,509 | |||
34,615 | DELTA AIR INC | 1,727,289 | ||||
42,407 | DESPEGAR.COM | 526,271 | ||||
99,300 | DISH NETWORK CORP A | 2,479,521 | ||||
37,792 | DOLLAR GENERAL CORP | 4,084,559 | ||||
1,600 | DOWDUPONT INC | 85,568 | ||||
18,100 | EDWARDS LIFESCIENCES CORP | 2,772,377 | ||||
11,190 | EL PASO ELECTRIC CO | 560,955 | ||||
53,939 | ELANCO ANIMAL HEALTH INC | 1,700,697 | ||||
3,800 | ELECTRONIC ARTS INC | 299,858 | ||||
4,580 | ELEMENT SOLUTIONS INC | 47,311 | ||||
4,564 | ENVESTNET INC | 224,503 | ||||
33,920 | EPAM SYSTEMS INC | 3,935,059 | ||||
7,670 | EQUITY COMMONWEALTH | 230,177 | ||||
21,678 | ESCO TECHNOLOGIES INC | 1,429,664 | ||||
30,559 | ETSY INC | 1,453,692 | ||||
71,517 | EURONET WORLDWIDE INC | 7,321,910 | ||||
13,797 | EVERBRIDGE INC | 783,118 | ||||
79,740 | EVO PAYMENTS INC CL A | 1,967,186 | ||||
93,530 | EXTRACTION OIL & GAS INC | 401,244 | ||||
165,900 | FACEBOOK INC CL A | 21,747,831 | ||||
6,421 | FAIR ISAAC CORP | 1,200,727 | ||||
36,120 | FEDERATED INVS INC CL B NV | 958,986 | ||||
77,900 | FEDEX CORP | 12,567,607 | ||||
20,400 | FERRARI NV | 2,028,576 | ||||
111,830 | FIDELITY NATL INFORM SVCS INC | 11,468,167 | ||||
270,600 | FIRST DATA CORP CL A | 4,575,846 | ||||
40,113 | FISERV INC | 2,947,904 | ||||
29,901 | FLEETCOR TECHNOLOGIES INC | 5,553,214 | ||||
21,750 | FORTIVE CORP | 1,471,605 | ||||
50,949 | GAP INC | 1,312,446 | ||||
19,300 | GARTNER INC | 2,467,312 | ||||
44,559 | GCI LIBERTY INC CL A | 1,834,048 | ||||
103,580 | GENPACT LTD | 2,795,624 | ||||
85,000 | GILEAD SCIENCES INC | 5,316,750 | ||||
275,000 | GLAXOSMITHKLINE PLC SPONS ADR | 10,507,750 | ||||
10,105 | GLOBAL BLOOD THERAPEUTICS INC | 414,810 | ||||
137,478 | GLOBAL PAYMENTS INC | 14,178,107 | ||||
53,700 | GOLDMAN SACHS GROUP INC | 8,970,585 | ||||
16,418 | GUIDEWIRE SOFTWARE INC | 1,317,216 | ||||
109,120 | GULFPORT ENERGY CORP | 714,736 | ||||
35,008 | HABIT RESTAURANTS INC CL A | 367,584 |
18
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
29,621 | HAIN CELESTIAL GROUP INC | $ | 469,789 | |||
134,200 | HALLIBURTON CO | 3,567,036 | ||||
19,966 | HAMILTON LANE INC - A | 738,742 | ||||
2,120 | HANOVER INSURANCE GROUP INC | 247,552 | ||||
49,600 | HARLEY-DAVIDSON INC | 1,692,352 | ||||
11,509 | HARRIS CORP | 1,549,687 | ||||
8,062 | HCA HEALTHCARE INC | 1,003,316 | ||||
24,144 | HEALTHCARE SERVICES GROUP INC | 970,106 | ||||
6,916 | HEALTHEQUITY INC | 412,539 | ||||
18,127 | HEICO CORP | 1,404,480 | ||||
13,924 | HENRY SCHEIN INC | 1,093,312 | ||||
33,695 | HERSHEY CO (THE) | 3,611,430 | ||||
729,500 | HEWLETT PACKARD ENTERPRISE CO | 9,636,695 | ||||
23,778 | HEXCEL CORPORATION | 1,363,431 | ||||
20,726 | HILTON WORLDWIDE HOLDINGS INC | 1,488,127 | ||||
53,670 | HOME DEPOT INC | 9,221,579 | ||||
18,900 | HONEYWELL INTL INC | 2,497,068 | ||||
198,550 | HOSTESS BRANDS INC CL A | 2,172,137 | ||||
445,000 | HP INC | 9,104,700 | ||||
49,321 | HUDSON LTD CL A | 845,855 | ||||
9,000 | HUMANA INC | 2,578,320 | ||||
5,200 | IAC/INTERACTIVECORP | 951,808 | ||||
9,708 | IDEX CORPORATION | 1,225,732 | ||||
1,091 | IHS MARKIT LTD | 52,335 | ||||
9,968 | ILLUMINA INC | 2,989,702 | ||||
18,400 | INCYTE CORP | 1,170,056 | ||||
75,200 | INFINEON TECH AG SPONS ADR | 1,502,872 | ||||
33,600 | INGEVITY CORP | 2,811,984 | ||||
31,067 | INTEGRA LIFESCIENCES HLDS CORP | 1,401,122 | ||||
95,590 | INTERCONTINENTAL EXCHANGE INC | 7,200,795 | ||||
58,375 | INTUIT INC | 11,491,119 | ||||
14,585 | INTUITIVE SURGICAL INC | 6,985,048 | ||||
11,638 | JOHN BEAN TECHNOLOGIES CORP | 835,725 | ||||
333,920 | JOHNSON CONTROLS INTERNATIONAL PLC | 9,900,728 | ||||
156,792 | JPMORGAN CHASE & CO* | 15,306,035 | ||||
150,000 | JUNIPER NETWORKS INC | 4,036,500 | ||||
1,000 | KANSAS CITY SOUTHERN | 95,450 | ||||
100,420 | KEARNY FINANCIAL CORP | 1,287,384 | ||||
41,401 | KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC CL A | 1,037,923 | ||||
341,746 | KOSMOS ENERGY LTD | 1,390,906 | ||||
300 | L3 TECHNOLOGIES INC | 52,098 |
19
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
200 | LAM RESEARCH CORP | $ | 27,234 | |||
102,710 | LIBERTY EXPEDIA HOLDINGS INC CL A | 4,016,988 | ||||
110,700 | LILLY (ELI) & CO | 12,810,204 | ||||
51,099 | LINDBLAD EXPEDITIONS HOLDINGS | 687,793 | ||||
16,776 | LITTELFUSE INC | 2,876,748 | ||||
6,597 | LOXO ONCOLOGY INC | 924,042 | ||||
110,110 | MAGNOLIA OIL & GAS CORPO CL A | 1,234,333 | ||||
64,236 | MAKEMYTRIP LIMITED | 1,562,862 | ||||
22,866 | MARRIOTT INTERNATIONAL INC A | 2,482,333 | ||||
8,182 | MARSH & MCLENNAN COS INC | 652,515 | ||||
36,663 | MARVELL TECHNOLOGY GROUP LTD | 593,574 | ||||
62,394 | MASTERCARD INC CL A | 11,770,628 | ||||
177,400 | MATTEL INC | 1,772,226 | ||||
84,042 | MAXIM INTEGRATED PRODUCTS INC | 4,273,536 | ||||
5,757 | MAXIMUS INC | 374,723 | ||||
11,084 | MCDONALDS CORP | 1,968,186 | ||||
65,200 | MEDTRONIC PLC | 5,930,592 | ||||
9,900 | MERCADOLIBRE INC | 2,899,215 | ||||
22,375 | MERCK & CO INC NEW | 1,709,674 | ||||
62,200 | MERCURY GENERAL CORP | 3,216,362 | ||||
12,867 | MERCURY SYSTEMS INC | 608,480 | ||||
255,000 | METLIFE INC | 10,470,300 | ||||
185,021 | MICRO FOCUS INTERNATIONAL PLC SPND ADR | 3,184,211 | ||||
87,200 | MICROCHIP TECHNOLOGY | 6,271,424 | ||||
683,840 | MICROSOFT CORP | 69,457,629 | ||||
80,104 | MIMECAST LTD | 2,693,898 | ||||
21,460 | MOELIS & CO CL A | 737,795 | ||||
46,900 | MOLSON COORS BREWING CO B | 2,633,904 | ||||
109,344 | MORGAN STANLEY | 4,335,490 | ||||
37,400 | MOTOROLA SOLUTIONS INC | 4,302,496 | ||||
89,800 | NATIONAL OILWELL VARCO INC | 2,307,860 | ||||
46,805 | NATIONAL VISION HOLDINGS INC | 1,318,497 | ||||
85,940 | NCR CORP | 1,983,495 | ||||
77,828 | NEOGENOMICS INC | 981,411 | ||||
44,948 | NETFLIX INC | 12,030,782 | ||||
9,057 | NEUROCRINE BIOSCIENCES INC | 646,760 | ||||
74,200 | NEWS CORP NEW CL A | 842,170 | ||||
244 | NEXTERA ENERGY | 42,412 | ||||
81,100 | NINTENDO LTD ADR | 2,684,410 | ||||
1,800 | NORFOLK SOUTHERN CORP | 269,172 | ||||
600 | NORTHERN TRUST CORP | 50,154 | ||||
11,500 | NORTHROP GRUMMAN CORP | 2,816,350 |
20
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
16,040 | NORTHWESTERN CORP | $ | 953,418 | |||
9,441 | NORWEGIAN CRUISE LINE HLDGS LTD | 400,204 | ||||
169,900 | NOVARTIS AG SPON ADR | 14,579,119 | ||||
37,050 | NUVASIVE INC | 1,836,198 | ||||
20,388 | NVIDIA CORP | 2,721,799 | ||||
137,700 | OCCIDENTAL PETROLEUM CORP | 8,452,026 | ||||
135,395 | PACWEST BANCORP | 4,505,946 | ||||
17,233 | PAYLOCITY HOLDING CORP | 1,037,599 | ||||
183,398 | PAYPAL HLDGS INC | 15,421,938 | ||||
63,240 | PENSKE AUTOMOTIVE GROUP INC | 2,549,837 | ||||
40,071 | PERFORMANCE FOOD GROUP CO | 1,293,091 | ||||
223,280 | PEYTO EXPL & DEV CORP NEW | 1,157,942 | ||||
11,600 | PFIZER INC | 506,340 | ||||
600 | PHILIP MORRIS INTL INC | 40,056 | ||||
11,500 | PIONEER NATURAL RESOURCES CO | 1,512,480 | ||||
4,464 | PRICESMART INC | 263,822 | ||||
25,570 | PRIMERICA INC | 2,498,445 | ||||
123,125 | PROGRESSIVE CORP OHIO | 7,428,131 | ||||
16,644 | PROSPERITY BANCSHARES INC | 1,036,921 | ||||
303,676 | QURATE RETAIL INC | 5,927,756 | ||||
45,469 | RAYMOND JAMES FINANCIAL INC. | 3,383,349 | ||||
4,566 | RED HAT INC | 801,972 | ||||
116,000 | REDWOOD TRUST INC REIT | 1,748,120 | ||||
22,250 | REGAL BELOIT CORP | 1,558,613 | ||||
20,217 | RESTAURANT BRANDS INTERNATIONAL INC | 1,057,349 | ||||
40,210 | REXNORD CORP NEW | 922,820 | ||||
340,000 | ROCHE HOLDING LTD SPON ADR | 10,567,200 | ||||
18,500 | ROCKWELL AUTOMATION INC | 2,783,880 | ||||
11,200 | ROPER TECHNOLOGIES INC | 2,985,024 | ||||
44,100 | ROSS STORES INC | 3,669,120 | ||||
19,895 | ROYAL CARIBBEAN CRUISES LTD | 1,945,532 | ||||
95,760 | RPC INC | 945,151 | ||||
38,788 | RUSH ENTERPRISES INC CL A | 1,337,410 | ||||
6,600 | S&P GLOBAL INC | 1,121,604 | ||||
87,879 | SALESFORCE.COM INC | 12,036,787 | ||||
355,400 | SANOFI SPON ADR | 15,427,914 | ||||
35,725 | SAREPTA THERAPEUTICS INC | 3,898,669 | ||||
33,235 | SBA COMMUNICATIONS CORP | 5,380,414 | ||||
150,000 | SCHLUMBERGER LTD | 5,412,000 | ||||
602,011 | SCHWAB CHARLES CORP | 25,001,517 | ||||
4,793 | SEMPRA ENERGY | 518,555 | ||||
11,130 | SENSIENT TECHNOLOGIES CORP | 621,611 |
21
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
51,851 | SERVICENOW INC | $ | 9,232,071 | |||
12,415 | SHERWIN WILLIAMS CO | 4,884,806 | ||||
16,500 | SHOPIFY INC CL A | 2,284,425 | ||||
69,224 | SITEONE LANDSCAPE SUPPLY INC | 3,826,010 | ||||
35,200 | SKYWEST INC | 1,565,344 | ||||
293,300 | SLM CORP | 2,437,323 | ||||
63,850 | SOUTH JERSEY INDUSTRIES INC | 1,775,030 | ||||
17,982 | SPLUNK INC | 1,885,413 | ||||
500,989 | SPRINT CORP | 2,915,756 | ||||
93,890 | SRC ENERGY INC | 441,283 | ||||
4,400 | STATE STREET CORP* | 277,508 | ||||
50,560 | STRYKER CORP | 7,925,280 | ||||
136,669 | SUMMIT MATERIALS INC CL A | 1,694,696 | ||||
3,100 | SYNOPSYS INC | 261,144 | ||||
47,285 | SYNOVUS FINANICAL CORP. | 1,512,647 | ||||
32,100 | TAKE-TWO INTERACTV SOFTWR INC | 3,304,374 | ||||
12,800 | TARGET CORP | 845,952 | ||||
125,134 | TD AMERITRADE HOLDING CORP | 6,126,561 | ||||
90,300 | TE CONNECTIVITY LTD | 6,829,389 | ||||
13,700 | TELEDYNE TECHNOLOGIES INC | 2,836,859 | ||||
302,297 | TENCENT HOLDINGS LTD UNS ADR | 11,931,663 | ||||
38,550 | TERRENO REALTY CORP | 1,355,804 | ||||
14,486 | TESLA INC | 4,820,941 | ||||
21,697 | TEXAS INSTRUMENTS INC | 2,050,367 | ||||
11,541 | THE BOOKING HOLDINGS INC | 19,878,449 | ||||
19,877 | THERMO FISHER SCIENTIFIC INC | 4,448,274 | ||||
17,140 | TIMKEN CO | 639,665 | ||||
35,304 | TOPBUILD CORP | 1,588,680 | ||||
35,164 | TORCHMARK CORP | 2,620,773 | ||||
36,900 | TOTAL SYS SVCS INC | 2,999,601 | ||||
74,085 | TRANSUNION | 4,208,028 | ||||
86,200 | TWENTY FIRST CENTURY FOX CL B | 4,118,636 | ||||
249,700 | TWENTY FIRST CENTURY FOX INC-A | 12,015,564 | ||||
885 | ULTA BEAUTY INC | 216,683 | ||||
51,841 | ULTIMATE SOFTWARE GROUP INC | 12,694,306 | ||||
15,110 | UMB FINANCIAL CORP | 921,257 | ||||
48,240 | UNION BANKSHARES CORP | 1,361,815 | ||||
71,693 | UNION PACIFIC CORP | 9,910,123 | ||||
23,551 | UNITED CONTINENTAL HLDGS INC | 1,971,925 | ||||
39,880 | UNITED FIRE GROUP INC | 2,211,346 | ||||
66,000 | UNITED TECHNOLOGIES CORP | 7,027,680 | ||||
123,303 | UNITEDHEALTH GROUP INC | 30,717,243 |
22
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
137,629 | UNIVAR INC | $ | 2,441,538 | |||
17,300 | VAIL RESORTS INC | 3,647,186 | ||||
104,011 | VERINT SYSTEMS INC | 4,400,705 | ||||
67,200 | VERISK ANALYTICS INC | 7,327,488 | ||||
71,542 | VERTEX PHARMACEUTICALS INC | 11,855,225 | ||||
261,470 | VISA INC CL A | 34,498,351 | ||||
13,632 | VMWARE INC CL A | 1,869,356 | ||||
21,000 | VULCAN MATERIALS CO | 2,074,800 | ||||
185,631 | WASTE CONNECTIONS INC | 13,783,103 | ||||
240,000 | WEATHERFORD INTERNATIONA PLC | 134,160 | ||||
31,118 | WEBSTER FINANCIAL | 1,533,806 | ||||
102,395 | WELBILT INC | 1,137,608 | ||||
38,925 | WELLCARE HEALTH PLANS INC | 9,189,803 | ||||
400,000 | WELLS FARGO & CO | 18,432,000 | ||||
32,929 | WEX INC | 4,612,036 | ||||
3,350 | WHITE MOUNTAINS INS GROUP LTD | 2,873,262 | ||||
20,898 | WILLIS TOWERS WATSON PLC | 3,173,570 | ||||
16,147 | WOODWARD INC | 1,199,561 | ||||
29,534 | WORKDAY INC CL A | 4,715,989 | ||||
34,604 | WORKIVA INC | 1,241,938 | ||||
27,002 | WORLDPAY INC | 2,063,763 | ||||
593 | WYNN RESORTS LTD | 58,654 | ||||
9,451 | XILINX INC | 804,942 | ||||
2,500 | XYLEM INC | 166,800 | ||||
19,958 | YUM BRANDS INC | 1,834,539 | ||||
115,000 | ZAYO GROUP HOLDINGS INC | 2,626,600 | ||||
22,703 | ZEBRA TECHNOLOGIES CORP CL A | 3,614,999 | ||||
3,400 | ZOETIS INC CL A | 290,836 | ||||
42,149 | ZUORA INC CL A | 764,583 | ||||
210,126 | ZYNGA INC | 825,795 | ||||
|
| |||||
Total Other Common Stocks | $ | 1,532,471,772 | ||||
Synthetic Investment Contracts** | ||||||
7,866,915 | CASH | $ | 7,866,915 | |||
350,000 | ABBOTT LAB 2.9% 11/30/21 | 347,394 | ||||
644,000 | ABBVIE INC 2.5% 05/14/20 | 639,897 | ||||
339,000 | ACE INA HOLDING 2.3% 11/03/20 | 335,410 | ||||
1,247,000 | ACTAVIS FUNDING SCS 3% 3/12/20 | 1,253,360 | ||||
385,000 | AERCAP IRELAND 4.125% 07/03/23 | 383,105 | ||||
401,000 | AIG INTL GRP 4.875% 6/01/22 | 417,657 | ||||
583,000 | AIR LEASE CORP 2.5% 3/01/21 | 573,183 | ||||
740,000 | AIR LEASE CORP 2.625% 07/01/22 | 711,127 |
23
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
510,000 | AMERICAN EXPRESS 2.25% 5/05/21 | $ | 500,852 | |||
1,000,000 | AMERICAN EXPRESS 2.6% 09/14/20 | 997,316 | ||||
750,000 | AMERICAN HONDA FIN 1.7% 9/9/21 | 724,955 | ||||
1,255,000 | AMERICAN INTL GROUP 2.3% 7/19 | 1,262,989 | ||||
266,000 | AMERICAN INTL GRP 3.3% 3/01/21 | 268,015 | ||||
555,000 | AMGEN INC 2.125% 05/01/2020 | 549,493 | ||||
440,000 | AMGEN INC 2.2% 05/22/19 | 439,351 | ||||
746,000 | AMOT 2017-3 A2 2.04% 6/22 | 735,998 | ||||
1,010,000 | AMOT 2018-1 A2 2.7% 01/23 | 1,003,537 | ||||
1,270,000 | AMOT 2018-2 A 3.29% 05/23 | 1,279,134 | ||||
177,000 | AMPHENOL CORP NEW 3.2% 4/1/24 | 173,030 | ||||
1,429,000 | AMXCA 2017-1 A 1.93% 09/22 | 1,413,325 | ||||
1,050,000 | AMXCA 2017-3 A 1.77% 11/22 | 1,035,803 | ||||
865,000 | AMXCA 2017-6 A 2.04% 05/23 | 852,446 | ||||
1,006,000 | AMXCA 2018-4 A 2.99% 12/15/23 | 1,009,977 | ||||
1,030,000 | AMXCA 2018-6 A 0% 02/24 | 1,035,093 | ||||
524,000 | ANHUESER-BUSCH 2.65% 2/01/21 | 520,828 | ||||
1,154,000 | ANHUESER-BUSCH IN 3.3% 2/01/23 | 1,139,474 | ||||
695,000 | ANTHEM INC 2.95% 12/01/22 | 679,461 | ||||
536,000 | AT&T INC 2.45% 06/30/20* | 528,978 | ||||
1,000,000 | AT&T INC 2.8% 02/17/21* | 997,438 | ||||
713,000 | AUTOZONE 3.125% 7/15/23 | 702,735 | ||||
292,000 | AVALONBAY COMM 3.625% 10/1/20 | 296,276 | ||||
95,000 | AXA EQUITABLE 3.9% 4/23 144A | 94,548 | ||||
1,285,000 | BACCT 2017-A1 A1 1.95% 08/22 | 1,270,777 | ||||
1,177,000 | BACCT 2017-A2 A2 1.84% 1/23 | 1,156,892 | ||||
1,250,000 | BACCT 2018-A1 A1 2.7% 04/23 | 1,247,012 | ||||
1,017,000 | BACCT 2018-A2 A2 3% 09/23 | 1,021,230 | ||||
1,000,000 | BAE SYSTEMS 2.85% 12/15/20 | 987,895 | ||||
500,000 | BANK AMER FDG 2.25% 4/21/20 | 496,775 | ||||
800,000 | BANK NOVA SCOTIA 2.8% 07/21/21 | 803,005 | ||||
1,000,000 | BANK OF AMER 2.625% 10/19/20 | 994,581 | ||||
1,010,000 | BANK OF AMERICA 2.625% 4/19/21 | 1,001,529 | ||||
2,000,000 | BANK OF AMERICA CO 3.864% 7/24 | 2,029,029 | ||||
520,000 | BANK TOKYO-MSB 2.3% 03/20 144A | 518,860 | ||||
1,000,000 | BARCLAYS BANK 2.65% 01/11/21 | 991,610 | ||||
750,000 | BARCLAYS BANK 4.338% 5/16/24 | 733,209 | ||||
450,000 | BARCLAYS PLC 2.75% 11/8/19 | 448,548 | ||||
500,000 | BARCLAYS PLC 2.875% 06/20 | 491,654 | ||||
568,000 | BARCLAYS PLC 3.25% 01/12/21 | 564,907 | ||||
1,020,000 | BAT INTL FIN 2.75% 6/20 144A | 1,003,310 |
24
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
760,000 | BAT INTL FIN 3.5% 6/22 144A | $ | 744,720 | |||
386,000 | BERKSHIRE HATH 2.2% 3/15/21 | 383,424 | ||||
1,110,000 | BERKSHIRE HATHAWA 2.8% 1/15/23 | 1,099,563 | ||||
1,595,000 | BK OF AMER 3.004%/VAR 12/20/23 | 1,549,980 | ||||
1,073,000 | BMARK 2018-B2 A2 3.6623% 02/51 | 1,090,867 | ||||
628,000 | BMARK 2018-B7 A2 4.377% 05/53 | 659,365 | ||||
732,000 | BMARK 2018-B8 A2 4.2122% 01/52 | 761,595 | ||||
1,000,000 | BMW US 2.7% 04/06/22 144A | 977,590 | ||||
930,000 | BMWFT 2018-1 A1 3.15% 5/23 | 933,130 | ||||
510,000 | BMWLT 2017-2 A3 2.07% 10/20 | 506,534 | ||||
460,000 | BMWLT 2018-1 A3 3.06% 07/21 | 462,633 | ||||
1,000,000 | BNK OF NOVA SCOTIA 2.7% 3/7/22 | 986,685 | ||||
634,000 | BNP PARIBA 2.45% 03/17/19 | 637,754 | ||||
530,000 | BP CAP MKTS PLC 2.521% 1/20 | 532,511 | ||||
883,000 | BP CAPITAL MKT PLC 2.315% 2/20 | 883,186 | ||||
540,000 | BPCE SA 2.5% 7/15/19 | 544,152 | ||||
718,000 | BRITISH TELECOM PLC 2.35% 2/19 | 723,461 | ||||
532,000 | BWSTA 18-1 A3 3.52% 12/22 144A | 536,149 | ||||
636,000 | CAN NATURAL RES 3.45% 11/15/21 | 634,196 | ||||
1,000,000 | CANADIAN IMP BANK 2.55% 6/22 | 974,762 | ||||
1,500,000 | CAPITAL ONE FIN 3.2% 1/30/23 | 1,479,732 | ||||
1,000,000 | CAPITAL ONE NA 1.85% 9/13/19 | 994,617 | ||||
683,090 | CARMX 16-4 A3 1.4% 08/21 | 675,583 | ||||
46,156 | CARMX 2015-3 A3 1.63% 06/20 | 46,133 | ||||
404,000 | CARMX 2017-3 A3 1.97% 04/22 | 399,943 | ||||
431,000 | CARMX 2017-4 A3 2.15% 10/22 | 426,988 | ||||
551,000 | CARMX 2018-2 A3 2.98% 01/23 | 554,941 | ||||
649,000 | CARMX 2018-4 A3 3.36% 09/23 | 654,415 | ||||
714,000 | CATERPILLAR FINL 2.1% 01/10/20 | 714,073 | ||||
1,282,000 | CCCIT 2016-A1 A1 0% 11/21 | 1,271,014 | ||||
1,165,000 | CCCIT 2017-A3 A3 1.92% 04/22 | 1,155,360 | ||||
1,000,000 | CCCIT 2017-A8 A8 1.86% 8/8/22 | 991,144 | ||||
1,044,000 | CCCIT 2017-A9 A9 1.8% 09/21 | 1,040,853 | ||||
1,268,000 | CCCIT 2018-A1 A1 2.539% 01/23 | 1,271,895 | ||||
137,000 | CGCMT 13-GC11 A4 3.093% 04/46 | 136,366 | ||||
363,000 | CGCMT 13-GC15 A4 4.371% 9/46 | 380,386 | ||||
479,000 | CGCMT 13-GC17 A4 4.131% 11/46 | 497,418 | ||||
565,000 | CGCMT 16-GC36 AAB 3.368% 02/49 | 568,332 | ||||
527,000 | CGCMT 2012-GC8 A4 3.024% 9/45 | 526,030 | ||||
951,000 | CGCMT 2014-GC23 A3 3.356% 7/47 | 953,800 | ||||
860,810 | CGCMT 2015-GC29 A2 2.674% 4/48 | 858,349 | ||||
473,000 | CGCMT 2017-P7 A2 3.199% 04/50 | 475,893 |
25
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
1,285,000 | CHAIT 2016-A2 A 1.37% 06/15/21 | $ | 1,276,119 | |||
1,310,000 | CHAIT 2016-A5 A5 1.27% 07/21 | 1,299,257 | ||||
468,000 | CHEVRON PHIL 2.45% 5/1/20 144A | 465,572 | ||||
602,000 | CHEVRON PHIL 3.3% 5/23 144A | 598,754 | ||||
419,000 | CITIGROUP 3.124%/VAR 1/24/23 | 417,287 | ||||
1,000,000 | CITIGROUP INC 2.35% 08/02/21 | 981,148 | ||||
500,000 | CITIGROUP INC 2.45% 1/10/20 | 501,750 | ||||
530,000 | CITIGROUP INC 2.5% 7/29/19 | 533,791 | ||||
800,000 | CITIGROUP INC 2.75% 04/25/2022 | 779,676 | ||||
771,000 | CITIGROUP INC 4.4% 6/10/25 | 756,840 | ||||
1,892,000 | CITIZENS BANK NA 2.55% 5/13/21 | 1,856,889 | ||||
525,000 | CITIZENS BANK NA 2.65% 5/26/22 | 511,384 | ||||
800,000 | CITIZENS BK MTN 2.45% 12/04/19 | 795,810 | ||||
93,000 | CITIZENS FINCL 2.375% 7/28/21 | 91,527 | ||||
918,000 | CNH 2018-A A3 3.23% 07/23 | 921,952 | ||||
2,113,000 | COMCAST CORP 1.625% 01/15/22 | 2,037,955 | ||||
590,000 | COMCAST CORP 4% 10/15/25 | 602,822 | ||||
1,000,000 | COMCAST CORP NEW 3.7% 04/24 | 1,014,873 | ||||
289,000 | COMET 2015-A2 A2 2.08% 03/23 | 285,796 | ||||
713,000 | COMET 2015-A8 A8 2.05% 08/23 | 703,145 | ||||
567,000 | COMET 2016-A3 A3 1.34% 04/22 | 562,972 | ||||
1,042,000 | COMET 2016-A4 A4 1.33% 6/15/22 | 1,032,085 | ||||
1,043,000 | COMET 2017-A3 A3 | 1,032,460 | ||||
1,040,000 | COMET 2017-A4 A4 1.99% 07/23 | 1,024,659 | ||||
671,000 | COMET 2018-A1 A1 3.01% 02/24 | 675,442 | ||||
408,000 | COMM 15-CR23 ASB 3.257% 05/48 | 410,617 | ||||
271,000 | COMM 15-CR26 ASB 3.373% 10/48 | 273,932 | ||||
1,649,657 | COMM 2010-C1 A3 4.205 7/46 | 1,675,774 | ||||
1,280,000 | COMM 2012-CR2 A3 2.841 8/45 | 1,267,423 | ||||
520,492 | COMM 2012-CR3 A3 2.822% 10/45 | 513,173 | ||||
525,365 | COMM 2012-CR3 ASB 2.372% 11/45 | 520,278 | ||||
1,119,000 | COMM 2012-LC4 A4 3.288% 12/44 | 1,122,006 | ||||
611,000 | COMM 2013-CR6 A4 3.101% 03/46 | 609,150 | ||||
794,252 | COMM 2013-CR7 A4 3.213% 03/46 | 795,516 | ||||
373,000 | COMM 2013-CR8 A5 3.612% 06/46 | 378,920 | ||||
489,251 | COMM 2014-CR18 A2 2.924% 07/47 | 489,322 | ||||
356,000 | COMM 2015-CR22 A2 2.856% 03/48 | 355,808 | ||||
399,000 | COMM 2015-CR22 ASB 3.144% 3/48 | 399,909 | ||||
530,000 | COMMONWEALTH BK NY 2.3% 9/6/19 | 531,285 | ||||
1,040,000 | COMMWLTH BK ASTL NYB 2.3% 3/20 | 1,036,242 | ||||
561,000 | COMPASS BANK 2.875% 6/29/22 | 537,626 | ||||
753,000 | COMPASS BK BIRM 3.5% 6/11/21 | 752,336 |
26
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
381,000 | CONSOLIDATED EDISON 2% 5/15/21 | $ | 370,585 | |||
606,000 | CPART 17-1A A3 2.05% 03/21 | 602,221 | ||||
804,000 | CPART 18-2A A3 3.429% 12/22 | 810,981 | ||||
852,000 | CPART 2018-1A A3 3.088% 11/21 | 852,887 | ||||
530,000 | CREDIT SUISSE NY 2.3% 5/19 | 529,550 | ||||
550,000 | CREDIT SUISSE NY 3% 10/29/21 | 545,843 | ||||
797,000 | CSAIL 17-CX9 A2 3.0538% 09/50 | 793,325 | ||||
273,000 | CSAIL 2015-C2 ASB 3.2241% 6/57 | 272,857 | ||||
458,000 | CVS HEALTH CORP 2.8% 07/20/20 | 459,529 | ||||
1,279,000 | CVS HEALTH CORP 3.35% 03/09/21 | 1,288,057 | ||||
1,023,000 | CVS HEALTH CORP 3.7% 03/09/23 | 1,023,766 | ||||
519,000 | DAIMLER FIN 2.25% 3/20 144A | 515,843 | ||||
1,000,000 | DAIMLER FIN 2.3% 2/12/21 144A | 984,494 | ||||
618,000 | DAIMLER FIN 2.85% 1/6/22 144A | 612,178 | ||||
1,100,000 | DAIMLER FIN NA 2.25% 9/19 144A | 1,101,096 | ||||
1,000,000 | DAIMLER FIN NA 2.45% 5/20 144A | 990,894 | ||||
181,000 | DANAHER CORP 2.4% 09/15/20 | 180,588 | ||||
902,931 | DBUBS 2011-LC2A A4 4.537% 7/44 | 931,738 | ||||
1,827,000 | DCENT 2015-A2 A 1.9% 10/22 | 1,803,362 | ||||
1,000,000 | DCENT 2015-A4 A4 2.19% 04/23 | 990,049 | ||||
732,000 | DCENT 2016-A3 A3 1.85% 10/23 | 717,789 | ||||
1,042,000 | DCENT 2016-A4 A4 1.39% 3/22 | 1,031,148 | ||||
787,000 | DCENT 2017-A6 A6 1.88% 2/15/23 | 774,922 | ||||
1,288,000 | DCENT 2018-A5 A5 3.32% 03/24 | 1,305,585 | ||||
316,000 | DEFT 18-1 A3 3.39% 06/23 | 316,353 | ||||
446,000 | DEFT 2018-2 A3 3.44% 10/23 | 448,335 | ||||
1,324,000 | DEUTSCHE BANK AG 2.5% 2/13/19 | 1,334,173 | ||||
1,290,000 | DEUTSCHE BANK AG 2.85% 5/10/19 | 1,287,458 | ||||
1,030,000 | DIAMOND 1 FI 3.48% 6/1/19 144A | 1,029,947 | ||||
1,237,000 | DIAMOND FN 1/2 5.45% 6/23 144A | 1,261,746 | ||||
384,000 | DIGITAL REALTY TR 2.75% 2/1/23 | 371,251 | ||||
1,044,000 | DISCOVER BANK 3.1% 06/20 | 1,039,123 | ||||
292,000 | DISCOVER BANK 3.35% 2/06/23 | 288,145 | ||||
392,000 | DISNEY (WALT)MTN 2.35 12/01/22 | 381,461 | ||||
305,000 | DOMINION RESOURCE 2% 8/15/21 | 295,356 | ||||
294,000 | DUKE ENERGY 1.8% 9/1/21 | 283,156 | ||||
844,000 | DUKE ENERGY CORP 3.05% 3/15/23 | 844,147 | ||||
109,000 | ENTERPRISE PRD 2.55% 10/15/19 | 109,010 | ||||
407,000 | ENTERPRISE PROD 2.85% 4/15/21 | 405,373 | ||||
653,000 | EVERSOURCE ENERGY 2.5% 3/15/21 | 646,569 | ||||
148,000 | EXELON CORP 2.85% 6/15/20 | 146,992 | ||||
460,000 | EXELON CORP VAR 06/01/2022 | 450,829 |
27
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
409,000 | EXPRESS SCRIPTS 4.75% 11/21 | $ | 423,172 | |||
231,000 | EXPRESS SCRIPTS HLD 2.6% 11/20 | 227,859 | ||||
1,010,000 | EXXON MOBIL CORP 2.222% 3/1/21 | 1,002,904 | ||||
792,000 | EXXON MOBIL CORP 2.726% 3/1/23 | 785,990 | ||||
77,534 | FHLG 5.50% 3/34 #G01665 | 83,429 | ||||
587,568 | FHLG 5.50% 5/34 #Z40042 | 631,270 | ||||
1,316,005 | FHLG 15YR 3.50% 10/26 #G14450 | 1,339,746 | ||||
80,360 | FHLG 15YR 4.00% 4/26 #E02867 | 82,612 | ||||
136,362 | FHLG 15YR 4.00% 9/25 #E02787 | 139,988 | ||||
2,825 | FHLG 15YR 5.00% 4/20 #G13598 | 2,855 | ||||
122,694 | FHLG 15YR 2.5% 06/23#G14775 | 122,209 | ||||
50,817 | FHLG 15YR 2.5% 09/22#J20415 | 50,680 | ||||
1,153,945 | FHLG 15YR 2.5% 10/31#G16387 | 1,138,596 | ||||
1,457,801 | FHLG 15YR 3% 05/29#J29409 | 1,463,787 | ||||
606,921 | FHLG 15YR 3.5% 08/30#G15273 | 617,871 | ||||
1,021,983 | FHLG 20YR 3% 11/33#G30872 | 1,026,101 | ||||
556,933 | FHLG 20YR 3.5% 05/38#G31067 | 566,808 | ||||
891,294 | FHLG 20YR 3.5% 06/32#C91456 | 907,096 | ||||
52,930 | FHLG 25YR 5.50% 7/35 #G05815 | 56,917 | ||||
250,000 | FHMS 2013-K025 A2 2.682% 10/22 | 248,708 | ||||
243,539 | FHMS 2017-K727 A1 2.632% 10/23 | 242,263 | ||||
330,949 | FHMS 2018-K079 A1 3.729% 02/28 | 342,258 | ||||
1,189,000 | FHMS K035 A2 3.458% 08/23 | 1,216,310 | ||||
346,073 | FHMS K724 A1 2.776% 03/23 | 345,145 | ||||
97,129 | FHR 2012-4135 AB 1.75% 06/42 | 93,288 | ||||
607,419 | FHR 2015-4472 WL 3% 05/45 | 607,941 | ||||
2,253,780 | FHR 2018-4765 QA 3% 02/46 | 2,247,194 | ||||
2,117,533 | FHR 2018-4766 MA 3.5% 02/46 | 2,157,244 | ||||
54,400 | FHR 3415 PC 5% 12/37 | 58,066 | ||||
1,179,171 | FHR 4656 PA 3.5% 10/45 | 1,202,047 | ||||
1,370,079 | FHR 4683 EA 2.5% 05/47 | 1,341,539 | ||||
1,480,062 | FHR 4847 CA 3.5% 11/15/45 | 1,503,556 | ||||
1,000,000 | FIFTH THIRD BAN 2.375% 4/25/19 | 1,002,293 | ||||
500,000 | FIFTH THIRD BAN 2.875% 7/27/20 | 503,053 | ||||
645,000 | FITAT 2017-1 A3 1.8% 02/22 | 638,489 | ||||
22,154 | FNMA 6.50% 7/32 #545759 | 24,867 | ||||
7,672 | FNMA 6.50% 7/32 #545762 | 8,610 | ||||
9,932 | FNMA 6.50% 7/35 #745092 | 11,200 | ||||
15,149 | FNMA 6.50% 8/36 #888034 | 16,989 | ||||
7,933 | FNMA 6.50% 12/32 #735415 | 8,904 | ||||
188,186 | FNMA 10YR 2.5% 05/23 #MA1431 | 187,543 | ||||
79,642 | FNMA 10YR 2.5% 10/22#AB6544 | 79,372 |
28
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
71,208 | FNMA 10YR 2.5% 10/22#AB6730 | $ | 70,965 | |||
119,753 | FNMA 15YR 3.50% 1/26 #AL1168 | 121,865 | ||||
541,661 | FNMA 15YR 3.50% 3/27 #AL1746 | 551,840 | ||||
331,891 | FNMA 15YR 3.50% 5/27 #AL1741 | 338,243 | ||||
121,033 | FNMA 15YR 3.50% 5/27 #AL1751 | 123,349 | ||||
2,293,883 | FNMA 15YR 3% 09/31#AL8853 | 2,307,065 | ||||
215,787 | FNMA 15YR 3.5% 01/27 #AX1909 | 219,917 | ||||
47,113 | FNMA 15YR 3.5% 07/26#AI7819 | 47,971 | ||||
497,727 | FNMA 15YR 3.5% 09/29#AL5878 | 507,097 | ||||
200,485 | FNMA 15YR 3.5% 10/29#AL5851 | 204,259 | ||||
1,334,193 | FNMA 15YR 4% 08/27#BM4533 | 1,369,894 | ||||
281,223 | FNMA 15YR 4.5% 11/25#AL8242 | 290,920 | ||||
270,762 | FNMA 20YR 2.5% 01/33#AL2974 | 265,738 | ||||
303,557 | FNMA 20YR 2.5% 01/33#AL2975 | 297,924 | ||||
182,490 | FNMA 20YR 2.5% 01/33#AL2976 | 179,104 | ||||
214,653 | FNMA 20YR 2.5% 01/33#AL2982 | 210,670 | ||||
1,574,436 | FNMA 3.5% 07/32#BM3929 | 1,603,334 | ||||
421,314 | FNMA 5.50% 11/34 #310105 | 453,775 | ||||
80,418 | FNMA 6.50% 12/35 #AD0723 | 90,263 | ||||
66,043 | FNMA 6.50% 8/36 #888544 | 74,262 | ||||
54,888 | FNMA 6.50% 8/36 #AE0746 | 61,694 | ||||
445,879 | FNR 2011-26 PA 4.5% 04/41 | 467,660 | ||||
128,594 | FNR 2012-149 DA 1.75% 01/43 | 123,463 | ||||
1,238,584 | FNR 2013-16 GP 3% 03/33 | 1,240,599 | ||||
766,981 | FNR 2014-83 P 3% 06/43 | 766,175 | ||||
1,053,027 | FNR 2015-28 JE 3% 05/45 | 1,049,063 | ||||
1,532,845 | FNR 2015-28 P 2.5% 5/45 | 1,501,288 | ||||
593,531 | FNR 2015-32 PA 3% 4/44 | 592,969 | ||||
896,734 | FNR 2015-42 LE 3% 06/45 | 892,085 | ||||
660,576 | FNR 2015-49 LE 3% 07/45 | 660,643 | ||||
796,860 | FNR 2015-54 GA 2.5% 07/45 | 784,134 | ||||
1,432,868 | FNR 2016-100 P 3.5% 11/44 | 1,453,706 | ||||
947,632 | FNR 2016-105 PA 3.5% 4/45 | 964,645 | ||||
689,591 | FNR 2016-19 AH 3% 04/46 | 689,835 | ||||
1,779,215 | FNR 2016-26 CG 3% 05/46 | 1,775,142 | ||||
897,993 | FNR 2016-27 HK 3% 01/41 | 893,877 | ||||
440,763 | FNR 2016-27 KG 3% 01/40 | 440,287 | ||||
1,747,764 | FNR 2016-34 GH 3% 06/46 | 1,741,268 | ||||
1,849,056 | FNR 2016-37 BK 3% 06/46 | 1,844,937 | ||||
1,516,733 | FNR 2017-11 HA 3.5% 12/45 | 1,543,578 | ||||
1,719,389 | FNR 2017-20 AP 3.5% 03/45 | 1,749,668 | ||||
1,559,722 | FNR 2017-74 PA 3.5% 11/45 | 1,588,079 |
29
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
1,066,849 | FNR 2017-97 P 3% 01/47 | $ | 1,059,293 | |||
1,351,262 | FNR 2018-11 LA 3.5% 7/45 | 1,375,174 | ||||
1,051,807 | FNR 2018-16 NB 3.25% 12/44 | 1,060,831 | ||||
2,995,321 | FNR 2018-3 LP 3% 02/47 | 2,982,579 | ||||
6,668,783 | FNR 2018-44 PA 3.5% 06/44 | 6,739,602 | ||||
2,090,835 | FNR 2018-88 BA 4% 11/25/43 | 2,154,326 | ||||
1,385,000 | FORD CRD 16-1 A 2.31% 08/27 | 1,367,544 | ||||
500,000 | FORD MTR CR CO 2.681% 01/09/20 | 498,069 | ||||
1,000,000 | FORD MTR CR CO 4.14% 2/15/23 | 966,097 | ||||
445,000 | FORD MTR CR LLC 3.339% 3/28/22 | 423,860 | ||||
968,000 | FORDF 2016-1 A1 1.76% 02/21 | 966,918 | ||||
988,000 | FORDF 2016-3 A1 1.55% 07/21 | 981,028 | ||||
1,042,000 | FORDF 2017-2 A1 2.16% 09/22 | 1,027,558 | ||||
1,000,000 | FORDF 2018-1 A1 2.95% 5/21 | 998,623 | ||||
256,325 | FORDO 16-B A3 1.33% 10/20 | 255,300 | ||||
188,022 | FORDO 2016-A A3 2.01% 07/20 | 187,626 | ||||
849,952 | FORDO 2017-A A3 1.67% 6/21 | 844,105 | ||||
999,000 | FORDO 2018-A A3 3.03% 11/22 | 1,000,810 | ||||
565,000 | FORDR 2014-2 A 2.31% 04/26 | 561,616 | ||||
538,000 | FORDR 2015-2 A 2.44% 01/27 | 534,063 | ||||
370,000 | FORTIVE CORP 2.35% 06/15/21 | 361,146 | ||||
1,106,000 | GENERAL ELEC CO 3.375% 3/11/24 | 1,044,462 | ||||
190,000 | GENERAL MILLS INC 3.2% 4/16/21 | 190,266 | ||||
1,114,000 | GENERAL MTR FIN 4.15% 06/19/23 | 1,086,920 | ||||
739,000 | GENERAL MTRS FIN 2.65% 4/13/20 | 731,721 | ||||
633,000 | GENERAL MTRS FINL 3.55% 4/9/21 | 629,332 | ||||
770,000 | GFORT 16-1 A1 1.86% 05/21 | 767,138 | ||||
825,000 | GFORT 17-1 A1 2.22% 1/22 144A | 818,561 | ||||
968,000 | GFORT 2018-2 A1 3.25% 3/23 | 969,436 | ||||
557,000 | GMALT 2018-2 A3 3.1% 06/21 | 556,684 | ||||
463,000 | GMCAR 2018-1A A3 2.39% 7/18/22 | 458,679 | ||||
483,000 | GOLDMAN SAC BK USA 3.2% 6/5/20 | 483,170 | ||||
529,000 | GOLDMAN SACHS 2.876%/VAR 10/22 | 516,324 | ||||
878,000 | GOLDMAN SACHS GRP 2.75 9/15/20 | 875,877 | ||||
1,250,000 | GOLDMAN SACHS GRP 3.2% 2/23/23 | 1,226,608 | ||||
389,000 | GSINC 5.25% 7/27/21 | 412,538 | ||||
662,000 | GSMC 14-GC26 AAB 3.365% 11/47 | 668,191 | ||||
138,000 | GSMS 14-GC18 AAB 3.648% 01/47 | 139,876 | ||||
160,000 | GSMS 14-GC20 AAB 3.655% 04/47 | 162,715 | ||||
354,000 | GSMS 15-GC32 AAB 3.513% 7/48 | 359,128 | ||||
549,923 | GSMS 2012-GC6 A3 3.482% 01/45 | 557,403 | ||||
1,312,198 | GSMS 2012-GCJ9 A3 2.773% 11/45 | 1,297,242 |
30
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
191,295 | GSMS 2013-GC10 A4 2.681% 02/46 | $ | 187,752 | |||
1,066,000 | GSMS 2013-GC10 A5 2.943% 02/46 | 1,055,241 | ||||
438,000 | GSMS 2015-GC28 AAB 3.206% 2/48 | 439,756 | ||||
1,000,000 | GUARDIAN LIFE 3.4% 4/23 144A | 1,002,421 | ||||
462,000 | HALFMOON P 3.75% 07/15/23 144A | 465,438 | ||||
904,000 | HALFMOON PA 3.4% 9/17/21 144A | 910,785 | ||||
17,974 | HAROT 2015-4 A3 1.23% 09/23/19 | 17,971 | ||||
757,487 | HAROT 2017-1 A3 1.72% 07/21 | 751,336 | ||||
18,968 | HART 2015-C A3 1.46% 02/20 | 18,968 | ||||
137,880 | HART 2016-A A3 1.56% 09/20 | 137,456 | ||||
809,828 | HART 2016-B A3 1.29% 4/21 | 802,439 | ||||
643,000 | HART 2018-A A3 2.79% 07/22 | 643,283 | ||||
550,000 | HFMOT 2016-1A A2 1.81% 03/21 | 548,203 | ||||
1,030,000 | HSBC HLDNGS 3.262/VAR 3/13/23 | 1,018,051 | ||||
750,000 | HSBC HOLDINGS 3.95%/VAR 5/24 | 749,444 | ||||
211,625 | HUNT AUTO 16-1 A3 1.57% 11/20 | 210,874 | ||||
750,000 | HUNTINGTN BCSHRS 2.3% 1/14/22 | 732,103 | ||||
1,157,000 | HUNTINGTON NATL BK 3.25% 5/21 | 1,158,988 | ||||
510,000 | HYUNDAI CAP AM 2.6% 3/20 144A | 507,186 | ||||
145,000 | INGERSOLL-RND LX 2.625% 5/1/20 | 144,194 | ||||
625,000 | INTERCO EXCH INC 3.45% 9/21/23 | 635,654 | ||||
668,000 | INTERCONT EXCH 2.75% 12/01/20 | 665,216 | ||||
654,000 | ITC HLDGS CORP 2.7% 11/15/22 | 634,363 | ||||
971,000 | JAPAN BANK INTL 1.5% 7/21/21 | 946,329 | ||||
443,000 | JPMBB 14-C22 ASB 3.5036% 09/47* | 446,543 | ||||
500,000 | JPMC CO 2.55% 10/29/20* | 496,542 | ||||
1,000,000 | JPMC CO 3.559%/VAR 04/23/24* | 999,101 | ||||
915,000 | JPMCC 13-C10 A5 3.1425% 12/47* | 910,521 | ||||
607,000 | JPMCC 16-JP4 A2 2.9343% 12/49* | 602,856 | ||||
366,706 | JPMCC 2012-C6 A3 3.5074 5/45* | 369,510 | ||||
524,866 | JPMCC 2012-C8 A3 2.8291% 10/45* | 516,933 | ||||
561,000 | JPMCC 2015-JP1 A2 3.1438% 1/49* | 559,868 | ||||
1,540,000 | JPMORGAN CHASE & CO 2.75% 6/20* | 1,531,876 | ||||
790,000 | JPMORGAN CHASE &CO2.25%1/23/20* | 789,845 | ||||
1,000,000 | JPMORGAN CHASE 3.514% 6/18/22* | 1,003,493 | ||||
1,300,000 | JPMORGAN CHASE 4.023/VAR 12/24* | 1,314,763 | ||||
1,276,000 | KCOT 2018-1A A3 3.1% 08/22 | 1,284,009 | ||||
413,000 | KEY BANK NA 2.5% 12/15/19 | 410,930 | ||||
379,000 | KINDER MORGAN IC 3.05% 12/1/19 | 377,784 | ||||
672,000 | LOCKHEED MARTIN 2.5% 11/23/20 | 666,274 | ||||
525,000 | MANUFACT & TRADE 2.5% 5/18/22 | 511,525 | ||||
450,000 | MANUFCTRS & TRDR 2.1% 02/06/20 | 448,922 |
31
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
780,000 | MARSH & MCLENN 2.35% 03/06/20 | $ | 778,843 | |||
630,000 | MARSH & MCLENNAN 2.75% 1/30/22 | 624,726 | ||||
1,000,000 | MASSMUTUAL 2.45% 11/23/20 144A | 988,968 | ||||
1,000,000 | MASSMUTUL GLBL 2.5% 4/22 144A | 981,681 | ||||
98,000 | MCDONALDS CORP 2.75% 12/20 | 97,465 | ||||
642,000 | MCDONALDS MTN 2.625% 1/15/22 | 635,548 | ||||
1,000,000 | MET LIFE GLBL FDG 2% 4/20 144A | 989,907 | ||||
750,000 | MET LIFE GLOB 2.65% 4/22 144A | 735,468 | ||||
530,000 | MITSUBISHI 2.45% 10/16/19 144A | 529,690 | ||||
750,000 | MITSUBISHI UFJ 3.455% 3/02/23 | 753,918 | ||||
581,000 | MITSUBISHI UFJ FI 2.95% 3/1/21 | 580,856 | ||||
525,000 | MITSUBISHI UFJ FIN 2.998% 2/22 | 523,266 | ||||
500,000 | MIZUHO BNK LTD 2.65% 9/19 144A | 501,784 | ||||
716,000 | MIZUHO FINL 2.273% 9/13/21 | 698,115 | ||||
510,000 | MIZUHO FINL 2.632% 04/21 144A | 503,255 | ||||
500,000 | MIZUHO FINL GROUP 2.953% 2/22 | 495,207 | ||||
361,000 | MOODYS CORP 2.75% 12/15/21 | 354,456 | ||||
1,030,000 | MORGAN STANLEY 2.375% 7/23/19 | 1,036,273 | ||||
1,955,000 | MORGAN STANLEY 2.5% 01/24/19 | 1,975,517 | ||||
1,000,000 | MORGAN STANLEY 2.5% 04/21/21 | 984,745 | ||||
800,000 | MORGAN STANLEY 2.65% 01/27/20 | 802,974 | ||||
750,000 | MORGAN STANLEY 2.75% 05/19/22 | 732,032 | ||||
1,000,000 | MORGAN STANLEY 3.125% 01/23/23 | 989,887 | ||||
1,000,000 | MORGAN STANLEY 3.737%/VAR 4/24 | 999,316 | ||||
238,000 | MSBAM 15-C22 ASB 3.04% 4/15/48 | 237,915 | ||||
1,014,611 | MSBAM 2012-C6 A4 2.858% 11/45 | 1,002,537 | ||||
279,000 | MSBAM 2013-C11 A4 CSTR 8/46 | 291,621 | ||||
749,000 | MSBAM 2013-C7 A4 2.918% 2/46 | 740,257 | ||||
858,000 | MSBAM 2013-C8 A4 3.134% 12/48 | 854,878 | ||||
579,000 | MSBAM 2014-C16 ASB 3.477% 6/47 | 583,932 | ||||
721,000 | MSBAM 2014-C17 ASB 3.477% 8/47 | 729,075 | ||||
142,000 | MSBAM 2015-C21 ASB 3.15% 03/48 | 141,539 | ||||
422,000 | MSC 2011-C2 A4 4.661% 06/44 | 437,353 | ||||
311,136 | NAROT 2016-B A3 1.32% 01/15/21 | 308,831 | ||||
1,043,000 | NAROT 2017-A A3 1.74% 08/21 | 1,034,103 | ||||
1,310,000 | NEW YORK LIFE 1.95% 2/20 144A | 1,304,936 | ||||
559,000 | NMOTR 2016-A A2 1.54% 06/21 | 555,643 | ||||
280,000 | NYC TFA (PIT) 2.05% 08/01/23 | 270,055 | ||||
255,000 | NYC TFA (PIT) 2.85% 02/01/24 | 252,760 | ||||
645,000 | NYS UDC 2.67% 03/15/23 | 642,486 | ||||
1,140,000 | NYS UDC 2.7% 03/15/23 | 1,137,002 | ||||
1,000,000 | ORACLE CORP 1.9% 09/15/21 | 976,027 |
32
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
1,599,000 | PHILIP MORRIS INTL 1.875% 2/21 | $ | 1,564,154 | |||
1,000,000 | PNC BANK NA 2.15% 4/29/21 | 977,956 | ||||
530,000 | PNC BANK NA 2.4% 10/18/19 | 529,455 | ||||
500,000 | PNC BANK NA 2.55% 12/09/21 | 488,551 | ||||
780,000 | PRICOA GLBL 2.45% 9/21/22 144A | 759,112 | ||||
1,070,000 | PRINCIPAL FDG 2.375% 9/19 144A | 1,070,881 | ||||
500,000 | PROTECTIVE LF 2.161% 9/20 144A | 493,871 | ||||
1,000,000 | PROTECTVE LFE 2.615% 8/22 144A | 981,323 | ||||
692,000 | PRUDENTIAL MTN 3.5% 05/15/24 | 698,842 | ||||
717,000 | PUBLIC SERVICE ELE 2.65% 11/22 | 692,271 | ||||
354,000 | PUBLIC SVC ENT 2% 11/15/21 | 340,837 | ||||
1,000,000 | QUEBEC PROVINCE 2.375% 1/31/22 | 997,712 | ||||
567,000 | REGIONS FINL CORP 2.75% 8/22 | 552,936 | ||||
750,000 | REGIONS FINL CORP 3.2% 2/8/21 | 754,711 | ||||
566,000 | REYNOLDS AMERICAN 3.25% 6/20 | 563,409 | ||||
349,000 | REYNOLDS AMERICAN 4% 6/12/22 | 345,958 | ||||
1,000,000 | ROPER TECHNOLOGIES 3% 12/15/20 | 994,634 | ||||
675,000 | ROPER TECHNOLOGIES 3.65% 09/23 | 683,863 | ||||
780,000 | ROPER TECHNOLOGS 2.8% 12/15/21 | 765,085 | ||||
1,500,000 | ROYAL BANK OF CANA 2.15% 10/20 | 1,482,139 | ||||
700,000 | ROYAL BK CAN GL 2.35% 10/30/20 | 694,140 | ||||
1,000,000 | ROYAL BK CDA 3.2% 04/30/21 | 1,005,282 | ||||
1,250,000 | ROYAL BK OF CAN 2.125% 3/2/20 | 1,245,729 | ||||
1,277,000 | ROYAL BK SCO 4.519%/VAR 06/24 | 1,253,917 | ||||
1,000,000 | ROYAL BNK OF CAN 3.7% 10/5/23 | 1,012,784 | ||||
656,000 | SEMPRA ENERGY 2.4% 3/15/20 | 651,339 | ||||
397,000 | SEMPRA ENERGY 2.85% 11/15/20 | 393,171 | ||||
189,000 | SEMPRA ENERGY 2.9% 02/01/23 | 185,925 | ||||
750,000 | SHELL INTL 2.25% 11/10/20 | 743,306 | ||||
771,000 | SHELL INTL FIN BV 2.125% 05/20 | 765,345 | ||||
1,250,000 | SHIRE ACQ INV IRE 2.4% 9/23/21 | 1,216,844 | ||||
208,000 | SIMON PROP GRP 2.35% 1/30/22 | 204,045 | ||||
860,000 | SIMON PROPERTY 2.75% 06/01/23 | 835,297 | ||||
1,250,000 | SOUTHERN COMPANY 2.35% 7/1/21 | 1,229,936 | ||||
362,000 | SOUTHERN PWR CO 2.375% 6/1/20 | 357,702 | ||||
1,027,000 | SRT 2017-A A3 2.58% 01/21 | 1,019,239 | ||||
856,000 | SRT 2018-A A3 2.93% 05/21 | 855,688 | ||||
584,000 | SSM HEALTH CARE 3.688% 6/1/23 | 591,118 | ||||
513,637 | SSTRT 17-1A A3 1.89% 8/20 | 511,196 | ||||
623,000 | SSTRT 17-2A A3 2.04% 4/21 144A | 616,552 | ||||
143,624 | SSTRT 2016-1A A3 1.524% 03/20 | 143,195 | ||||
1,273,000 | SSTRT 2018-2A A3 3.51% 8/25/22 | 1,283,615 |
33
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
520,000 | STARBUCKS CORP 3.8% 08/15/25 | $ | 522,210 | |||
500,000 | SUMITOMO BKG 2.45% 01/16/20 | 501,581 | ||||
657,000 | SUMITOMO MITSUI 2.934% 3/9/21 | 656,059 | ||||
828,000 | SUNTRUST BAN 3.502%/VAR 8/2/22 | 837,974 | ||||
750,000 | SUNTRUST BANKS INC 2.9% 3/3/21 | 750,615 | ||||
188,000 | SYNCHRONY FIN 3% 8/15/19 | 188,892 | ||||
1,215,000 | SYNCHRONY FINANCL 2.6% 1/15/19 | 1,229,152 | ||||
1,014,000 | SYNCT 2015-1 A 2.37% 03/23 | 1,007,057 | ||||
983,000 | TAOT 2018-B A3 2.96% 09/22 | 984,531 | ||||
1,020,000 | TORONTO DOM BANK 2.125% 4/7/21 | 1,003,134 | ||||
1,000,000 | TOYOTA MOTOR CORP 2.6% 1/11/22 | 997,776 | ||||
1,050,000 | TRANSCANADA 2.125% 11/15/19 | 1,042,857 | ||||
987,000 | TRANSCANADA PIP 2.5% 8/1/22 | 957,457 | ||||
1,000,000 | UBS AG LON 2.45% 12/01/20 144A | 983,355 | ||||
538,000 | UBSBB 2012-C2 A4 3.525 5/63 | 545,489 | ||||
410,000 | UNITED HEALTH 2.7% 7/15/20 | 413,573 | ||||
305,000 | UNITED TECHNOLOG 3.5% 8/16/21 | 307,994 | ||||
750,000 | UNITEDHEALTH GP 2.125% 3/15/21 | 739,002 | ||||
1,000,000 | USAA CAPITAL 2% 6/1/21 144A | 973,623 | ||||
358,000 | USAOT 2017-1 A3 1.79% 05/21 | 355,622 | ||||
6,000,000 | UST NOTE 1.875% 03/31/22 | 5,916,280 | ||||
20,000,000 | UST NOTES 1.625% 07/31/20 | 19,850,437 | ||||
8,000,000 | UST NOTES 1.875% 09/30/2022 | 7,864,438 | ||||
27,433,000 | USTN 1.125% 02/28/21 | 26,740,697 | ||||
9,894,000 | USTN 1.625% 08/31/22 | 9,652,369 | ||||
4,000,000 | USTN 1.75% 06/30/22 | 3,903,315 | ||||
28,699,000 | USTN 1.75% 11/30/21 | 28,163,055 | ||||
20,000,000 | USTN 1.75% 12/31/20 | 19,712,588 | ||||
9,194,000 | USTN 1.875% 07/31/22 | 9,075,498 | ||||
5,316,000 | USTN 2.125% 12/31/22 | 5,241,878 | ||||
20,000,000 | USTN 2.625% 06/30/23 | 20,105,231 | ||||
617,000 | VALET 2018-1 A3 3.32% 11/22 | 617,684 | ||||
502,000 | VERIZON COM 2.946% 03/15/22 | 500,034 | ||||
658,000 | VERIZON COMM 1.75% 8/15/21 | 639,720 | ||||
500,000 | VERIZON COMMS INC 3% 11/21 | 499,969 | ||||
476,000 | VERIZON COMMUNS 2.625% 2/21/20 | 478,672 | ||||
513,000 | VOLKSWAGEN GRP 2.4% 5/20 144A | 506,284 | ||||
456,906 | VZOT 16-1A A 1.42% 01/21 | 454,867 | ||||
603,000 | VZOT 17-2A A 1.92% 12/21 | 597,181 | ||||
935,645 | VZOT 2016-2A A 1.68% 5/21 | 930,785 | ||||
1,050,000 | VZOT 2017-3A A1A 2.06% 04/22 | 1,038,035 | ||||
1,268,000 | VZOT 2018-A A1A 3.23% 4/20/23 | 1,277,027 |
34
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
520,000 | WASHINGTON PG 3.85% 4/1/20 | $ | 517,152 | |||
530,000 | WELLPOINT INC 2.25% 8/15/19 | 531,671 | ||||
1,000,000 | WELLS FARGO 3.325%/VAR 07/23/21* | 1,013,593 | ||||
1,000,000 | WELLS FARGO & CO MTN 2.6% 7/20* | 1,001,628 | ||||
1,000,000 | WELLS FARGO BK 3.55% 8/14/23* | 1,009,837 | ||||
435,000 | WELLTOWER INC 3.95% 09/01/23 | 442,500 | ||||
1,000,000 | WESTPAC BANKING 1.6% 08/19/19 | 996,985 | ||||
1,050,000 | WESTPAC BANKING 2.8% 1/11/22 | 1,044,104 | ||||
1,155,113 | WFCM 2012-LC5 A3 2.918% 10/45* | 1,145,610 | ||||
66,986 | WFCM 2013-LC12 A1 1.676% 7/46* | 66,994 | ||||
590,000 | WFCM 2015-C27 ASB 3.278% 2/48* | 594,633 | ||||
580,000 | WFCM 2016-C34 A2 2.603% 06/49* | 571,583 | ||||
428,000 | WFCM 2016-C37 A2 3.103% 12/49* | 428,248 | ||||
132,290 | WFCM 2016-LC25 1.795% 12/15/59* | 131,089 | ||||
93,909 | WFRBS 13-C12 ASB 2.838% 03/48* | 93,366 | ||||
217,541 | WFRBS 13-C16 ASB 3.963% 09/46* | 221,922 | ||||
281,000 | WFRBS 14-C20 ASB 3.638% 05/47* | 285,813 | ||||
332,000 | WFRBS 14-C23 ASB 3.636% 10/57* | 338,879 | ||||
694,000 | WFRBS 2011-C3 A4 4.375% 3/44* | 710,060 | ||||
445,000 | WFRBS 2012-C7 A2 3.431% 6/45* | 448,567 | ||||
708,988 | WFRBS 2012-C9 A3 2.87% 11/45* | 705,013 | ||||
1,133,000 | WFRBS 2013-C11 A5 3.071% 03/45* | 1,127,435 | ||||
274,000 | WFRBS 2013-C12 A4 3.198% 3/48* | 273,635 | ||||
1,067,000 | WFRBS 2013-C14 A5 3.337% 6/46* | 1,071,843 | ||||
581,000 | WFRBS 2013-C16 A5 4.415% 09/46* | 610,606 | ||||
1,091,000 | WFRBS 2014-C22 ASB 3.464% 9/57* | 1,106,500 | ||||
292,000 | WISCONSIN ENERGY 2.45% 6/15/20 | 288,830 | ||||
423,985 | WOART 2016-A A3 1.77% 09/21 | 421,283 | ||||
281,000 | XCEL ENERGY INC 2.4% 03/15/21 | 278,679 | ||||
782,000 | XEROX CORP 2.75% 03/15/19 | 784,422 | ||||
141,000 | ZOETIS INC 3.45% 11/13/20 | 142,011 | ||||
|
| |||||
Total Synthetic Investment Contracts | $ | 525,433,042 | ||||
Mutual Funds | ||||||
Fidelity BrokerageLink* | $ | 205,955,149 | ||||
6,298,112 | DFA Emerging Markets Core Equity Portfolio Institutional Class Fund* | 121,238,649 | ||||
54,677 | Fidelity Investments Money Market Government Portfolio* | 54,677 | ||||
1,684,474 | PIMCO Priv ABS Sector Fund (732)* | 21,022,241 | ||||
39,320 | PIMCO Short Term Floating NAV Portfolio II* | 393,396 | ||||
|
| |||||
Total Mutual Funds | $ | 348,664,112 |
35
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
U.S. Government Agency Securities | ||||||
United States Treasury Notes | ||||||
500,000 | UST NOTE 1.875% 03/31/22 | $ | 490,615 | |||
3,700,000 | UST NOTE 2.25% 02/15/27 | 3,595,439 | ||||
6,300,000 | USTN 1.5% 08/15/26 | 5,815,613 | ||||
4,000,000 | USTN 1.875% 04/30/22 | 3,923,381 | ||||
3,200,000 | USTN 2% 06/30/24 | 3,111,782 | ||||
3,600,000 | USTN 2.125% 09/30/21 | 3,565,481 | ||||
9,400,000 | USTN 2.25% 04/30/21 | 9,354,310 | ||||
8,340,000 | USTN 2.25% 08/15/27 | 8,077,367 | ||||
7,600,000 | USTN 2.25% 11/15/24 | 7,469,686 | ||||
6,500,000 | USTN 2.375% 05/15/27 | 6,368,683 | ||||
5,800,000 | USTN 2.375% 8/15/24 | 5,746,947 | ||||
200,000 | USTN 2.5% 05/15/24 | 199,631 | ||||
3,100,000 | USTN 2.625% 3/31/25 | 3,109,809 | ||||
1,500,000 | USTN 2.75% 08/31/23 | 1,516,775 | ||||
2,800,000 | USTN 2.75% 2/28/25 | 2,828,791 | ||||
2,100,000 | USTN 2.875% 04/30/25 | 2,136,901 | ||||
200,000 | USTN TII 0.75% 2/15/45 | 192,555 | ||||
200,000 | USTN TII 1% 2/15/46 | 202,860 | ||||
500,000 | USTN TII 1.375% 02/15/44 | 561,451 | ||||
2,850,000 | USTN TII 2.5% 1/15/29 | 3,824,126 | ||||
100,000 | USTN TII 3.875% 4/15/29 | 195,983 | ||||
|
| |||||
Total United States Treasury Notes | $ | 72,288,186 | ||||
United States Treasury Bonds | ||||||
5,000,000 | UNITED STATES TREASURY BOND 2.75% 08/15/2047 | $ | 4,743,865 | |||
5,800,000 | UNITED STATES TREASURY BOND 2.875% 08/15/2045 | 5,659,423 | ||||
400,000 | UNITED STATES TREASURY BOND 3.375% 11/15/2048 | 428,467 | ||||
600,000 | USTB 2.5% 02/15/2046 | 542,701 | ||||
200,000 | USTB 2.75% 8/15/42 | 191,792 | ||||
5,900,000 | USTB 2.750% 11/15/42 | 5,651,262 | ||||
200,000 | USTB 3% 11/15/2044 | 200,057 | ||||
4,900,000 | USTB 3% 5/15/42 | 4,913,842 | ||||
300,000 | USTB 4.375% 5/15/40 | 368,808 | ||||
|
| |||||
Total United States Treasury Bonds | $ | 22,700,217 |
36
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
Federal Agency Obligations | ||||||
Federal Home Loan Mortgage Corporation | ||||||
319,968 | FHLG 5.00% 3/38 #A74793 | $ | 339,538 | |||
23,464 | FHLG 5.50% 11/35 #A39302 | 25,176 | ||||
88,776 | FHLG 5.50% 12/38 #G06172 | 95,386 | ||||
234,397 | FHLG 6.00% 6/38 #G04715 | 261,064 | ||||
411,840 | FHLG 6.00% 11/39 #G06409 | 458,770 | ||||
45,290 | FHLG 6.50% 9/39 #G06669 | 51,111 | ||||
11,000,000 | FHLG 30YR 3.5% 01/49 #TBA | 10,993,215 | ||||
196,933 | FHLG 30YR 3.5% 09/47#Q50962 | 196,973 | ||||
9,200,000 | FHLG 30YR 4% 01/49 #TBA | 9,376,113 | ||||
22,684 | FHLM ARM 5.65% 9/37 #1G3704 | 23,240 | ||||
7,215 | FHLM ARM 5.84% 2/37 #1N1447 | 7,466 | ||||
29,591 | FHLM ARM 5.95% 5/37 #1N1582 | 30,447 | ||||
11,157 | FHLM ARM 6.03% 5/37 #1N1463 | 11,625 | ||||
67,217 | FHLM ARM 4.433% 7/35 #1B3925 | 69,739 | ||||
1,590,752 | FHMS 2018-K156 A1 3.7% 05/30 | 1,649,848 | ||||
|
| |||||
Total Federal Home Loan Mortgage Corporation | $ | 23,589,711 | ||||
Federal National Mortgage Association | ||||||
531,830 | FNMA 4.50% 4/41 #AL0215 | $ | 556,287 | |||
65,577 | FNMA 4.50% 9/41 #AB3517 | 68,592 | ||||
43,149 | FNMA 5.50% 8/38 #995072 | 46,424 | ||||
20,893 | FNMA 6.00% 5/35 #821192 | 23,283 | ||||
3,073 | FNMA 6.00% 9/37 #952504 | 3,413 | ||||
6,212 | FNMA 6.00% 10/35 #745000 | 6,911 | ||||
6,491 | FNMA 6.50% 1/37 #897910 | 7,366 | ||||
26,398 | FNMA 6.50% 5/36 #895817 | 29,893 | ||||
12,915 | FNMA 6.50% 8/36 #745744 | 14,587 | ||||
7,483 | FNMA 6.50% 9/36 #897131 | 8,471 | ||||
152,579 | FNMA 6.50% 10/41 #AL0814 | 172,724 | ||||
191,193 | FNMA 6.50% 10/41 #AL0886 | 214,162 | ||||
100,981 | FNMA 6.50% 10/41 #AL0885 | 114,153 | ||||
13,300,000 | FNMA 30YR 3% 01/49 #TBA | 12,976,932 | ||||
2,997,264 | FNMA 30YR 3% 05/43#AR8293 | 2,941,903 | ||||
15,900,000 | FNMA 30YR 3.5% 01/49 #TBA | 15,893,918 | ||||
12,700,000 | FNMA 30YR 3.5% 02/49 #TBA | 12,686,709 | ||||
7,170 | FNMA 30YR 4% 02/34#763516 | 7,370 | ||||
52,700,000 | FNMA 30YR 4% 02/49 #TBA | 53,673,822 | ||||
17,600,000 | FNMA 30YR 4.5% 02/49 #TBA | 18,203,124 | ||||
97,333 | FNMA ARM 5.51% 2/37 #913990 | 98,729 |
37
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
922,346 | FNMA ARM 2.463% 01/36#AL7183 | $ | 971,592 | |||
25 | FNR 11-15 AB 9.75% 8/19 | 26 | ||||
39,249 | FNR 2004-38 FK 1ML+35 5/34 | 39,329 | ||||
74,395 | FNR 2010-118 YB IO INV 10/40 | 12,036 | ||||
92,747 | FNR 2011-63 SW IO INV 7/41 | 15,408 | ||||
503,696 | FNR 2016-62 AF 1ML+45 9/46 | 504,321 | ||||
46,362 | FNS 390 C3 IO 6% 7/38 | 9,884 | ||||
28,589 | FNS 407 40 0 1/38 | 7,006 | ||||
56,998 | FNS 407 41 IO 6% 1/38 | 12,899 | ||||
7,571 | FNS 407 C22 IO 1/39 | 1,558 | ||||
|
| |||||
Total Federal National Mortgage Association | $ | 119,322,832 | ||||
Freddie Mac | ||||||
3,231,616 | FHMS K006 AX1 CSTR 1/20 | $ | 23,018 | |||
793,777 | FHMS K007 X1 CSTR 4/20 | 7,994 | ||||
899,759 | FHMS K008 X1 CSTR 6/25/20 | 14,953 | ||||
868,231 | FHMS K009 X1 CSTR 8/20 | 14,056 | ||||
3,759,415 | FHMS K014 X1 IO CSTR 4/21 | 86,041 | ||||
1,351,120 | FHMS KAIV X1 CSTR 6/46 | 30,674 | ||||
42,323 | FHR 3738 BP 4% 12/38 | 43,022 | ||||
|
| |||||
Total Freddie Mac | $ | 219,758 | ||||
Government National Mortgage Association | ||||||
28,888 | GNII 5.00% 9/40 #004802 | $ | 30,590 | |||
13,298 | GNII II 5.00% 7/40 #004747 | 14,082 | ||||
141,947 | GNII II 5.00% 8/40 #004772 | 150,313 | ||||
60,922 | GNII II 6.50% 10/37 #004040 | 68,953 | ||||
1,000,000 | GNII II 3.5% 01/49 #TBA | 1,006,851 | ||||
2,000,000 | GNII II 4% 01/49 #TBA | 2,048,059 | ||||
6,900,000 | GNII II 4.5% 02/49 #TBA | 7,129,921 | ||||
2,000,000 | GNMA 30YR 3% 01/49 #TBA | 1,971,636 | ||||
1,000,000 | GNMA 30YR 3.5% 01/49 #TBA | 1,006,694 | ||||
1,000,000 | GNMA 30YR 4% 01/49 #TBA | 1,024,029 | ||||
53,300 | GNMA II 5.00% 7/40 #783050 | 56,364 | ||||
12,490 | GNR 10-116 JS -1ML+605 12/39 | 1,005 | ||||
23,171 | GNR 11-70 BS -1ML+670 IO 12/36 | 699 | ||||
3,319,515 | GNR 15-H12 FB 1ML+60 05/65 | 3,332,907 | ||||
80,989 | GNR 16-H19 FE 1ML+.37 6/20/61 | 80,967 | ||||
34,847 | GNR 2005-13 SD -1ML+680 2/35 | 5,675 | ||||
134,868 | GNR 2006-47 SA 1ML+680 8/36 | 21,448 | ||||
133,911 | GNR 2009-106 SU IO INV 5/37 | 20,059 | ||||
23,502 | GNR 2009-45 AI IO 1ML+596 4/39 | 2,511 |
38
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
86,381 | GNR 2009-61 SA 1ML+670 8/39 | $ | 13,899 | |||
120,838 | GNR 2009-61 WQ 1ML+625 11/35 | 19,823 | ||||
17,575 | GNR 2009-68 SL 1ML+675 4/39 | 1,646 | ||||
779,076 | GNR 2009-HO1 FA 1.4% 11/59 | 785,919 | ||||
30,587 | GNR 2010-109 SB -1ML+660 8/40 | 5,279 | ||||
158,883 | GNR 2010-115 SP -1ML+540 9/40 | 18,494 | ||||
186,777 | GNR 2010-117 PS 1ML+600 10/39 | 13,619 | ||||
199,361 | GNR 2010-14 SC -1ML+480 8/35 | 18,262 | ||||
44,121 | GNR 2010-146 GS IO ML+610 6/39 | 2,171 | ||||
72,489 | GNR 2010-147 S -1ML+665 11/40 | 12,553 | ||||
81,535 | GNR 2010-151 SM -1ML+608 11/40 | 13,191 | ||||
77,068 | GNR 2010-151SA IO ML+605 11/40 | 11,549 | ||||
35,066 | GNR 2010-160 SW 1ML+655 10/38 | 1,106 | ||||
18,692 | GNR 2010-3 MS IO 1ML+655 11/38 | 614 | ||||
17,620 | GNR 2010-31 GS 1ML+650 3/39 | 703 | ||||
25,307 | GNR 2010-42 BS -1ML+648 4/40 | 3,997 | ||||
25,307 | GNR 2010-47 AS -1ML+644 4/40 | 3,942 | ||||
56,400 | GNR 2010-47 VS -1ML+625 11/37 | 7,415 | ||||
94,708 | GNR 2010-50 QS 1ML+655 12/38 | 4,114 | ||||
80,868 | GNR 2010-57 QS -1ML+650 5/40 | 13,040 | ||||
133,315 | GNR 2010-60 S -1ML+650 5/40 | 21,025 | ||||
139,457 | GNR 2010-62 SB -1ML+575 5/40 | 17,308 | ||||
107,913 | GNR 2010-68 SD -1ML+658 6/40 | 18,329 | ||||
26,542 | GNR 2010-76 SH -1ML+650 5/40 | 4,180 | ||||
30,862 | GNR 2010-85 HS IO 1ML+665 1/40 | 2,928 | ||||
25,475 | GNR 2010-85 JS -1ML+657 4/40 | 4,102 | ||||
96,898 | GNR 2010-87 SK IML+650 7/40 | 15,653 | ||||
760,863 | GNR 2010-H010 FC 1ML+100 5/60 | 770,912 | ||||
876,499 | GNR 2010-H20 AF 1ML+33 10/60 | 874,900 | ||||
826,896 | GNR 2010-H24 FA 1ML+35 10/60 | 825,749 | ||||
220,258 | GNR 2011-11 SA -1ML+600 1/41 | 30,662 | ||||
16,920 | GNR 2011-32 S IO -1ML+600 3/41 | 2,404 | ||||
54,712 | GNR 2011-4 PS -1ML+618 9/40 | 7,061 | ||||
103,294 | GNR 2011-81 SA -1ML+540 6/41 | 12,549 | ||||
232,698 | GNR 2011-H09 AF IML+50 3/61 | 233,214 | ||||
662,127 | GNR 2016-H18 FA 1ML+75 08/66 | 669,384 | ||||
915,876 | GNR 2016-H20 PT VAR 09/20/66 | 1,016,915 | ||||
419,895 | GNR 2016-H23 FD 1ML+37 10/66 | 419,756 | ||||
|
| |||||
Total Government National Mortgage Association | $ | 23,871,130 |
39
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
Total U.S. Government and Agency Securities | $ | 261,991,834 | ||||
Other Fixed Income Securities | ||||||
69,632 | ACCR 2003-3 A1 5.21% 12/33 | $ | 71,235 | |||
452,203 | ACE 2006-SL3 A1 1ML+10 6/36 | 44,398 | ||||
300,000 | ACRE 10-ARTA A2FX 4.9543% 1/29 | 310,632 | ||||
284,222 | AHM 2005-4 1A1 1ML+29 3/35 | 265,438 | ||||
200,000 | AIG GLBL FRN 3ML+46 6/21 144A | 198,480 | ||||
800,000 | ALEXANDRIA REAL EST EQUITS INC 3.9% 06/15/2023 | 804,796 | ||||
500,000 | ALEXANDRIA REAL EST EQUITS INC 4.7% 07/01/2030 | 506,371 | ||||
331,040 | ALLY AUTO RECEIVABLES TRUST 2017-4 1.59% 04/15/202 | 330,445 | ||||
39,711 | ALLY AUTO RECEIVABLES TRUST 2017-5 1.81% 06/15/202 | 39,622 | ||||
600,000 | AMERICAN EXPRESS CO 2.2% 10/30/2020 | 589,058 | ||||
2,100,000 | APEX CR CLO 2016 LTD 3ML+105 10/27/2028 | 2,100,000 | ||||
172,176 | ARC 2004-1 A5 1ML+50 10/34 | 171,511 | ||||
100,000 | AVIATION CAPIT 3.875% 05/01/23 | 97,967 | ||||
1,100,000 | AVIATION FRN 3ML+95 6/21 144A | 1,098,146 | ||||
300,000 | BACARDI LTD 4.45% 05/15/25 144 | 295,984 | ||||
1,000,000 | BAIDU INC 4.375% 05/14/2024 | 1,008,226 | ||||
129,947 | BALTA 2004-9 3A1 CSTR 9/34 | 126,367 | ||||
119,889 | BALTA 2005-2 2A4 CSTR 4/35 | 118,718 | ||||
800,000 | BANCO SANTANDER SA 6.25/VAR PERP REGS | 898,268 | ||||
1,300,000 | BANK AMER FDG CORP 4.12% 01/24 | 1,317,626 | ||||
1,000,000 | BANK OF AMERICA CORP 0% 7/24/23 | 1,013,503 | ||||
700,000 | BANK OF AMERICA CORPORATION 3.864% 07/23/2024 | 698,289 | ||||
900,000 | BANK OF AMERICA CORPORATION 3ML+0 03/05/2024 | 889,064 | ||||
900,000 | BANK OF AMERICA CORPORATION 3ML+63 05/17/2022 | 900,101 | ||||
500,000 | BANK OF AMERICA CORPORATION FRN 3ML+65 06/25/2022 | 493,634 | ||||
300,000 | BANK OF AMERICA CORPORATION FRN 3ML+79 03/05/2024 | 291,481 | ||||
200,000 | BANK OF MONTREAL BA 0% 1/19 | 146,266 | ||||
200,000 | BANK OF MONTREAL BA 0% 1/4/19 | 146,258 | ||||
700,000 | BANQUE FED 144A 3ML+96 7/20/23 | 691,118 |
40
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
200,000 | BARCLAYS PLC (UNGTD) 3.2% 08/10/21 | $ | 194,369 | |||
800,000 | BARCLAYS PLC (UNGTD) 8% PERP | 970,496 | ||||
700,000 | BARCLAYS PLC (UNGTD) FRN 3ML+2.11 08/10/2021 | 705,784 | ||||
1,300,000 | BARCLAYS PLC 3.684% 01/10/2023 | 1,249,044 | ||||
400,000 | BAT CAP CORP 3.222% 08/15/24 | 368,385 | ||||
1,700,000 | BBCCR 15-GTP A 3.966% 08/33 14 | 1,737,024 | ||||
453,316 | BFAT 2007-SR1A M2 1ML+90 3/37 | 436,783 | ||||
2,600,000 | BMONT 0% 01/02/19 | 1,901,321 | ||||
1,600,000 | BMW US CAP 3ML+37 8/14/20 144A | 1,587,952 | ||||
100,000 | BMW US CAP FRN 8/13/21 144A | 99,049 | ||||
600,000 | BNP PARIBAS 3.375% 1/25 144A | 564,883 | ||||
2,500,000 | BOC AVIATION LTD FRN 3ML+112.5 09/26/2023 144A | 2,486,830 | ||||
500,000 | BROADCOM CRP/FI 3% 01/15/22 | 480,831 | ||||
89,445 | BSABS 2005-AQ2 A3 1ML+36 9/35 | 89,208 | ||||
141,474 | BSABS 2005-CL1 A1 1ML+50 9/34 | 135,671 | ||||
155,485 | BSARM 2004-10 12A3 CSTR 1/35 | 155,795 | ||||
1,200,000 | BSP 2015-VIIA A1AR 3MLIB+78BP 144A | 1,192,282 | ||||
300,000 | CC HOLDINGS 3.849% 4/15/23 | 297,069 | ||||
1,000,000 | CCO LLC/CAPITAL 4.464% 7/23/22 | 1,009,558 | ||||
1,700,000 | CD 2018-CD7 ASB 4.21% 08/51 | 1,778,602 | ||||
1,600,000 | CGGS 2018-WSS A 1ML+90 02/20 | 1,574,038 | ||||
900,000 | CHAIT 2017-A1 A 1ML+100 1/22 | 900,437 | ||||
100,000 | CHARTER COMM 3ML+165 2/1/24 | 98,319 | ||||
100,000 | CHARTER COMM OPER 4.5% 2/1/24 | 99,841 | ||||
1,200,000 | CIBC 0% 01/03/19 | 877,507 | ||||
500,000 | CIT GROUP INC NEW 4.125% 3/21 | 492,500 | ||||
400,000 | CIT GROUP INC NEW 5.25% 3/7/25 | 391,000 | ||||
1,000,000 | CITIGROUP INC 2.35% 08/02/2021 | 971,422 | ||||
500,000 | CITIGROUP INC 2.7% 03/30/2021 | 492,354 | ||||
100,000 | CITIGROUP INC 3ML+143 09/01/23 | 100,055 | ||||
1,500,000 | CITIGROUP INC 4.075/VAR 04/23/2029 | 1,463,907 | ||||
800,000 | CITIGROUP INC FRN 3ML+93 06/07/2019 | 801,883 | ||||
1,100,000 | COMCAST CORP NEW 4.6% 10/15/2038 | 1,112,009 | ||||
600,000 | COMET 2016-A1 A1 1ML+45 02/22 | 600,543 | ||||
1,000,000 | COMM 16-COR1 ASB 2.972% 10/49 | 988,873 | ||||
130,000 | COMMNWLTH BNK AUST 5 10/19 144 | 131,936 | ||||
300,000 | CON EDCO NY 3ML+40 6/25/21 | 297,044 | ||||
583,438 | CONTL AIR 12-1 ETC 4.15 4/24 | 581,921 | ||||
1,100,000 | CREDIT AGRC MTN FRN 1192933+1. | 1,115,709 | ||||
1,500,000 | CREDIT SUISSE 6.5% 8/8/23 144A | 1,563,750 | ||||
800,000 | CREDIT SUISSE GROUP FUNDING GUERNSEY LTD 2.75% 03/ | 791,266 |
41
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
600,000 | CREDIT SUISSE GROUP FUNDING GUERNSEY LTD 3.125% 12 | $ | 594,011 | |||
800,000 | CREDIT SUISSE GROUP FUNDING GUERNSEY LTD 3.8% 06/0 | 784,982 | ||||
500,000 | CROWN C TWRS 4.241% 7/48 144A | 497,575 | ||||
200,000 | CROWN CASTLE INT 4.45% 2/15/26 | 199,215 | ||||
276,093 | CVS CAREMARK 6.943% 1/10/30 | 306,854 | ||||
600,000 | CVS HEALTH CORP 3.125% 03/20 | 598,736 | ||||
300,000 | CVS HEALTH CORP 3.7% 03/09/23 | 296,771 | ||||
300,000 | CVS HEALTH CORP 4.1% 03/25/25 | 297,367 | ||||
517,613 | CWALT 05-36 2A1A 1ML+31 8/35 | 447,365 | ||||
196,271 | CWALT 2005-36 3A1 CSTR 8/35 | 182,979 | ||||
71,661 | CWALT 2005-61 1A1 1ML+26 12/35 | 69,557 | ||||
52,429 | CWALT 2006-OA1 2A1 1ML+21 3/46 | 47,238 | ||||
44,638 | CWHL 2004-23 A CSTR 11/34 | 40,858 | ||||
138,711 | CWHL 2006-HYB3 2A1A CSTR 6/36 | 131,685 | ||||
1,800,000 | DAIMLER FRN 3ML+55 5/21 144A | 1,783,969 | ||||
900,000 | DBSW 4.25% 10/14/21 | 879,939 | ||||
1,900,000 | DCENT 14-A1 A1 1ML+43 07/21 | 1,900,218 | ||||
92,774 | DELTA AIR 6.821% 2/10/24 | 99,612 | ||||
1,000,000 | DEPOSITORY 4.875/VAR PERP 144A | 985,000 | ||||
500,000 | DIGITAL REALTY TR 4.45% 07/28 | 498,152 | ||||
100,000 | DISH DBS 5.125% 5/1/20 | 98,750 | ||||
125,000 | DISH DBS CORP 7.875% 9/01/19 | 127,538 | ||||
35,797 | DMSI 2004-4 7AR2 1ML+45 6/34 | 33,054 | ||||
105,285 | DORIC NIMROD 5.125% 11/24 144A | 109,287 | ||||
2,801,625 | ECMC GROUP STUD 18-2A A 1ML+80 09/25/2068 144A | 2,798,267 | ||||
983,953 | ECMC GROUP STUDENT LOAN TRUST 2018-1 1ML+80 02/27/ | 982,613 | ||||
460,000 | EL PASO NAT GAS 8.375% 6/15/32 | 556,481 | ||||
100,000 | EMC CORP 2.65% 06/01/20 | 96,028 | ||||
1,199,000 | EMERALD BAY VAR 10/8/20 144A | 1,287,895 | ||||
600,000 | ENBRIDGE FRN 3ML+40 01/10/20 | 598,021 | ||||
1,000,000 | ENBRIDGE INC FRN 3ML+70 06/15/2020 | 996,541 | ||||
1,500,000 | ENTERGY COR NEW CP 0% 2/07/19 | 1,489,004 | ||||
2,000,000 | ENTERGY CORP NEW CP 0% 02/19 | 1,985,661 | ||||
300,000 | ENTERPRISE PROD 5.2% 9/1/20 | 309,175 | ||||
1,600,000 | EVERGREEN CR CARD TR 2017-1 A 1ML+26 10/15/2021 14 | 1,598,597 | ||||
127,384 | FFML 2004-FF3 M1 1ML+55 5/34 | 123,464 |
42
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
28,998 | FHAMS 2006-FA8 1A8 0 2/37 | $ | 16,094 | |||
500,000 | FIGUEROA CLO LTD 2014-1A AR 3ML+90 01/15/2027 144A | 497,169 | ||||
89,896 | FIRST SEC UT 9.35 1/10/23 144A | 97,341 | ||||
1,200,000 | FORD MTR CR CO LLC MED TERM NTS BOOK ENTRY FRN 3ML | 1,178,510 | ||||
800,000 | FORD MTR CR LLC 2.459% 3/27/20 | 783,044 | ||||
200,000 | FORD MTR CR LLC 8.125% 1/15/20 | 207,613 | ||||
900,000 | GALLATIN CLO VIII 2017-1 LTD / GALLATIN CLO VIII 2 | 896,252 | ||||
633,345 | GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2017-2 | 633,394 | ||||
29,938 | GMALT 2017-2 A2B 1ML+30 01/20 | 29,936 | ||||
1,400,000 | GOLDEN CR CARD TR 1ML+ 07/15/2024 144A | 1,396,782 | ||||
500,000 | GOLDMAN SACHS GROUP INC (THE) 2.905/VAR 07/24/2023 | 476,195 | ||||
300,000 | GOLDMAN SACHS GROUP INC (THE) 3.5% 01/23/2025 | 284,493 | ||||
1,600,000 | GPMT 18-FL1 A 1ML+90 12/35 | 1,592,520 | ||||
780,000 | GS GRP INC MTN 6.25% 2/01/41 | 890,625 | ||||
300,284 | GSMPS 2005-RP1 1AF 1ML+35 1/35 | 279,734 | ||||
2,458,769 | GSMS 2011-GC3 X IO 3/44 144A | 28,105 | ||||
63,419 | GSR 2005-AR5 2A3 CSTR 10/35 | 53,001 | ||||
500,000 | HALCYON LN ADVISORS FDG 2015-1A AR 3ML+92 04/20/20 | 496,273 | ||||
400,000 | HARLEY DAVID 3ML+94 3/21 144A | 399,549 | ||||
1,230,000 | HCA INC 6.5% 2/15/20 | 1,260,750 | ||||
600,000 | HSBC HOLDINGS PLC 3.95%/VAR 5/18/2024 | 596,724 | ||||
1,300,000 | HSBC HOLDINGS PLC 6.25%VAR PERP | 1,218,750 | ||||
124,040 | HVMLT 05-15 2A11 1ML+27 10/45 | 121,451 | ||||
204,101 | HVMLT 2004-5 2A6 CSTR 6/34 | 199,361 | ||||
202,688 | HVMLT 2006-13 A 1ML+18 11/46 | 169,245 | ||||
600,000 | IL ST 6.725% 4/1/35 | 642,642 | ||||
73,436 | IMSA 2006-1 1A2B 1ML+20 5/36 | 71,359 | ||||
559,189 | INDX 05-AR14 2A1A 1ML+30 7/35 | 499,381 | ||||
80,484 | INDX 2006-AR6 2A1A 1ML+20 6/47 | 69,761 | ||||
1,700,000 | ING BANK NV 4.625% 01/06/2026 | 1,712,295 | ||||
1,092,650 | ISAC 2010-1 A3 3ML+90 7/45 | 1,094,868 | ||||
435,204 | JAMESTOWN CLO IV LTD 2014-4A A1AR 3ML+69 07/15/202 | 433,695 | ||||
3,610,000,000 | JAPAN GOVERNMENT OF 0% 2/12/19 | 32,942,218 | ||||
220,000 | JPMC CO 4.25% 10/15/20* | 223,923 |
43
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
1,010,054 | JPMCC 2011-C4 XA CSTR 7/46* | $ | 22,833 | |||
80,165 | JPMCC 2011-C5 A3 4.1712% 8/46* | 81,773 | ||||
80,081 | JPMMT 2004-A3 3A3 CSTR 7/34* | 76,373 | ||||
1,100,000 | JPMORGAN CHASE & CO 2.25% 01/23/2020* | 1,088,921 | ||||
300,000 | JPMORGAN CHASE & CO 2.55% 10/29/2020* | 296,608 | ||||
600,000 | JPMORGAN CHASE & CO 3ML+89 07/23/2024* | 586,213 | ||||
400,000 | JPMORGAN CHASE & CO FRN 3ML+ 55 03/09/2021* | 398,076 | ||||
1,200,000 | JPMORGAN CHASE & CO FRN 3ML+148 03/01/2021* | 1,215,383 | ||||
120,000 | KAUPTHING BK 5.75 10/4/11 144A | — | ||||
1,177,000 | KAUPTHING BK 7.625% 2/28/15144 | — | ||||
60,000 | KINDER MORGAN EN 6.85% 2/15/20 | 62,124 | ||||
212,000 | KPN NV GLBL 8.375% 10/01/30 | 274,606 | ||||
413,000 | KRAFT FOODS GROUP INC 0.0% 02/10/2020 | 422,388 | ||||
1,400,000 | KUWAIT ST 2.75% 03/20/22 144A | 1,373,910 | ||||
641,000 | LANDSBANK IS MTN6.1% 8/11 144A | 38,460 | ||||
1,300,000 | LLOYDS BANKING GROUP PLC 2.907/VAR 11/07/2023 | 1,229,225 | ||||
400,000 | LLOYDS BANKING GROUP PLC 3.1% 07/06/2021 | 392,342 | ||||
700,000 | LLOYDS BANKING GROUP PLC 7.625%/VAR PERP REGS | 917,648 | ||||
1,700,000 | LLOYDS TSB BK FRN 3ML+80 06/21 | 1,683,263 | ||||
500,000 | LOOMIS SAYLES CLO II LTD 2015-2A A1R 3ML+90 04/15/ | 495,217 | ||||
313,384 | LXS 2006-14N 1A1B 1ML+21 9/46 | 301,793 | ||||
88,337 | MARM 2005-1 7A1 CSTR 2/35 | 87,075 | ||||
69,243 | MARM 2006-2 3A1 CSTR 1/36 | 67,864 | ||||
373,121 | MARP 2005-2 1A1F 1ML+35 5/35 | 275,172 | ||||
2,300,000 | MET LIFE GLOB FUNDING I FRN SOFR+57 09/07/2020 144 | 2,284,868 | ||||
100,000 | MGM RESORTS 6.75% 10/1/20 | 102,750 | ||||
100,000 | MISSISSIPPI PWR 3ML+65 3/27/20 | 99,831 | ||||
70,604 | MLCC 2003-F A1 1ML+32 10/28 | 67,960 | ||||
18,346 | MLMI 2004-A3 4A3 CSTR 5/34 | 17,904 | ||||
1,200,207 | MLMI 2005-WMC1 M2 1ML+79.5 9/25/35 | 1,191,990 | ||||
50,944 | MLMI 2006-A1 1A1 CSTR 3/36 | 41,678 | ||||
662,067 | MLMI 2007-SD1 A1 1ML+45 2/47 | 480,065 | ||||
700,000 | MORGAN STANLEY 2.65% 01/27/20 | 694,667 | ||||
1,100,000 | MORGAN STANLEY 3.737%/VAR 04/24/2024 | 1,091,597 | ||||
1,000,000 | MORGAN STANLEY 3.875% 04/29/2024 | 995,149 | ||||
200,000 | MOUNTAIN VIEW CLO X LTD 2015-10A AR 3ML+82 10/13/2 | 198,340 | ||||
800,000 | MQGAU FRN 3ML+35 04/19 144A | 799,858 |
44
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
500,000 | MSBAM 15-C20 ASB 3.069% 02/48 | $ | 499,809 | |||
600,000 | MSC 2014-CPT AM VAR 07/29 | 599,942 | ||||
800,000 | MSC 2018-H3 ASB 4.12% 07/51 | 836,319 | ||||
9,239 | MSM 2005-3AR 3A CSTR 7/35 | 8,251 | ||||
513,100 | NALT 2017-A A2B 1ML+20 09/19 | 513,142 | ||||
500,000 | NASDAQ INC FRN 3ML+39 03/22/2019 | 499,876 | ||||
1,100,000 | NATIONAL AUS/NY 3.625% 6/20/23 | 1,096,792 | ||||
1,000,000 | NATIONWDE 4.363%/VAR 8/24 144A | 979,668 | ||||
100,000 | NAVIENT CORP 5.0% 10/20 | 95,750 | ||||
100,000 | NAVIENT CORP 5.875% 03/25/2021 | 95,750 | ||||
1,900,000 | NAVIENT PRIVATE ED REFI LN TR 2018-E 3.43% 12/15/2 | 1,908,171 | ||||
251,311 | NAVIENT PRIVATE EDUCATION LOAN TRUST 2017-A 1ML+40 | 251,455 | ||||
1,476,744 | NELNET STUDENT LOAN TRUST 2017-3A A 1ML+85 02/25/2 | 1,489,733 | ||||
750,000 | NEUBERGER BERMAN CLO XIX LTD / NEUBERGER BERMAN CL | 744,095 | ||||
660,000 | NORDEA BK 4.875% 5/13/21 144A | 671,254 | ||||
250,000 | NORTHSTR ED FIN 2007-1 OT | 248,190 | ||||
500,000 | NY&PRSBTN HSP 4.024% 08/01/45 | 486,160 | ||||
1,500,000 | OCP LTD 2015-8A A1R 3ML+85 04/17/2027 144A | 1,484,943 | ||||
271,737 | OFSI FD VI LTD / OFSI FD VI LLC 3ML+65 03/20/2025 | 271,255 | ||||
800,000 | OSCAR US FDG IX LLC 18-2A A2B 1ML+47 08/10/2021 14 | 801,858 | ||||
1,700,000 | OVERSEA-CHINESE BKG CORP LTD FRN 3ML+45 05/17/2021 | 1,698,023 | ||||
381,168 | PALMER SQUARE LN FDG 2018-3 LTD / PALMER SQUARE LN | 378,533 | ||||
800,000 | PETROBRAS GLOBA 5.999% 1/27/28 | 753,208 | ||||
370,000 | PFIZER INC 3.4% 05/15/24 | 372,573 | ||||
55,203 | PRIME 2005-2 2A1 CSTR 10/32 | 56,050 | ||||
900,000 | PROTECTI FRN 3ML+52 06/21 144A | 892,899 | ||||
1,100,000 | RABOBANK 3.875% 9/26/23 144A | 1,103,735 | ||||
126,401 | RBSGC 2007-B 1A4 1ML+45 1/37 | 81,728 | ||||
300,000 | ROYAL BK SCOT FRN 3ML+155 6/24 | 286,608 | ||||
70,000 | ROYAL BK SCOTLND 7.648/VR PERP | 86,188 | ||||
1,100,000 | ROYAL BK SCTLND 3.875% 9/12/23 | 1,054,489 | ||||
520,000 | ROYAL BK SCTLND 6.4% 10/21/19 | 530,869 | ||||
1,900,000 | ROYALBK 0% 01/02/19 | 1,389,469 | ||||
1,000,000 | SABINE PASS LIQ 5% 03/15/27 | 1,003,837 |
45
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
83,195 | SACO 2005-WM3 A3 1ML+35 9/35 | $ | 82,964 | |||
272,155 | SAMI 2006-AR6 1A1 1ML+18 07/46 | 235,053 | ||||
700,000 | SANDS CHINA LTD 5.125% 08/08/2025 144A | 693,175 | ||||
330,000 | SANTA CL TRANS TAXM 5.876 4/32 | 388,664 | ||||
1,000,000 | SANTANDER UK 3ML+66 11/15/21 | 990,721 | ||||
1,200,000 | SANTANDER UK PL FRN 3ML+62 06/ | 1,186,754 | ||||
532,893 | SARM 2004-4 2A CSTR 04/34 | 521,369 | ||||
1,153,170 | SASC 2006-OPT1 A1 1ML+18 04/25/2036 | 1,135,573 | ||||
14,734 | SAST 2002-3 M1 1ML+75 12/32 | 14,436 | ||||
110,702 | SAST 2003-3 M1 1ML+65 12/33 | 107,728 | ||||
400,000 | SAUDI ARAB 2.875% 3/4/23 144A | 384,498 | ||||
500,000 | SAUDI ARAB 3.625% 3/4/28 144A | 472,855 | ||||
1,000,000 | SAUDI GOVT 3.25% 10/26/26 RGS | 934,936 | ||||
1,500,000 | SEMPRA ENERGY FRN 3ML+45 03/15/2021 | 1,469,442 | ||||
300,000 | SHIRE ACQ INV IRELAND DA 1.9% 09/23/2019 | 295,801 | ||||
200,000 | SHIRE ACQ INV IRELAND DA 2.4% 09/23/2021 | 193,388 | ||||
2,046,190 | SILVER ARROW CDA LP 2.278% 02/15/2020 144A | 1,499,300 | ||||
700,000 | SINOPEC 4.125% 9/12/25 144A | 700,804 | ||||
1,700,000 | SL GREEN OP PRTNR 3ML+98 8/21 | 1,689,630 | ||||
345,000 | SLM CORP MED 4.875% 6/17/19 | 343,706 | ||||
400,000 | SLM CORP MTN 8% 3/25/20 | 406,440 | ||||
224,681 | SLM STUDENT LN TR 2003-11 A6 3ML+55 12/25 | 225,728 | ||||
1,600,000 | SLM STUDENT LN TR 3ML+75 10/25/2029 144A | 1,604,062 | ||||
111,948 | SLMA 2004-3 A5 3ML+17 7/25/23 | 111,871 | ||||
250,000 | SLOVENIA REP 5.25% 2/24 REGS | 268,718 | ||||
400,000 | SMBC AVIATION 4.125% 7/23 144A | 401,793 | ||||
400,000 | SOUND PT CLO IX INC 2015-2A AR 3ML+88 07/20/2027 1 | 397,870 | ||||
2,000,000 | SOUND PT CLO VIII LTD / SOUND PT CLO VIII INC 2015 | 1,996,678 | ||||
1,000,000 | SOUTHCO FRN 3ML+49 02/14/20 14 | 998,300 | ||||
400,000 | SOUTHERN POWER CO FRN 3ML+55 12/20/2020 144A | 395,066 | ||||
21,000 | SOUTHRN NAT GAS 8% 3/01/32 | 26,770 | ||||
500,000 | SPECTRA ENERGY PRT 3ML+70 6/20 | 496,904 | ||||
300,000 | SPRINGLEAF FIN CRP 8.25% 12/20 | 310,500 | ||||
300,000 | SPRINT CAP GLBL 6.9% 5/01/19 | 301,500 | ||||
100,000 | SPRINT NEXTEL 7% 3/1/20 144A | 102,500 | ||||
100,000 | SPRINT NEXTEL 7% 8/15/20 | 102,380 | ||||
300,000 | SPRINT SPECTRUM CO LLC 4.738% 09/20/2029 144A | 294,375 | ||||
133,823 | STRUCTURED ASSET INVT LN TR VAR 10/25/2033 | 133,358 | ||||
49,000 | TENN GAS PIPELI 7.625% 4/01/37 | 57,959 | ||||
1,200,000 | TEXTRON INC FRN 3ML+55 11/10/2020 | 1,189,666 |
46
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
160,000 | THERMO FISHER 3.6% 8/15/21 | $ | 160,465 | |||
100,000 | TORONTO 0% 01/02/19 | 73,130 | ||||
400,000 | TORONTO DOMINION BA 0% 1/19 | 292,534 | ||||
200,000 | TORONTO DOMINION BA 0% 1/4/19 | 146,260 | ||||
1,800,000 | TRALEE CLO III LTD 2014-3A AR 3ML+103 10/20/2027 | 1,787,855 | ||||
530,937 | TSCOLN PRP FIN 7.6227% 7/13/39 | 880,126 | ||||
240,000 | TVA 5.25% 09/15/39 | 301,669 | ||||
467,000 | TVA 5.98% 04/01/36 | 614,014 | ||||
1,250,000 | UBS AG 7.625% 08/22 LT2 COCO | 1,331,250 | ||||
800,000 | UBS GR FND 3.491% 5/23/23 144A | 780,138 | ||||
600,000 | UBS GROUP FDNG 3% 4/15/21 144A | 595,338 | ||||
1,700,000 | UBSCM 18 C-12 4.1945% 08/51 | 1,765,501 | ||||
1,100,000 | UBSCM 18-C11 ASB 4.1186% 06/51 | 1,146,968 | ||||
200,000 | UNITED BUSNS 5.75% 11/20 144A | 204,787 | ||||
200,000 | VENTURE XVII CLO LTD 3ML+0.88 04/15/2027 144A | 198,077 | ||||
1,250,000 | VENTURE XXI CLO LTD 3ML+88 07/15/2027 144A | 1,235,674 | ||||
206,000 | VERIZON COMMUNICATIONS INC 3.376% 02/15/2025 | 199,861 | ||||
297,000 | VERIZON COMMUNICATIONS INC 4.329% 09/21/2028 | 298,404 | ||||
600,000 | VMC 18-FL2 A 1ML+92 10/35 | 599,656 | ||||
332,796 | WAMU 05-AR15 A1A1 1ML+26 11/45 | 321,610 | ||||
274,075 | WAMU 05-AR15 A1A2 1ML+28 11/45 | 252,551 | ||||
124,096 | WAMU 05-AR17 A1A2 1ML+29 12/45 | 116,758 | ||||
419,255 | WAMU 06-AR14 1A3 CSTR 11/36 | 379,226 | ||||
1,286,430 | WAMU 2004-AR10 A1A 1ML+44 7/44 | 1,277,356 | ||||
120,438 | WAMU 2004-AR8 A1 1ML+42 6/44 | 115,304 | ||||
688,168 | WAMU 2005-AR18 1A3A CSTR 1/36 | 678,846 | ||||
172,511 | WAMU 2005-AR7 A4 CSTR 8/35 | 172,255 | ||||
41,685 | WAMU 2005-AR8 1A1A 1ML+27 7/45 | 40,026 | ||||
99,205 | WAMU 2005-AR9 A1A 1ML+32 7/45 | 96,057 | ||||
169,865 | WAMU 2007-HY4 4A1 CSTR 9/36 | 151,381 | ||||
500,000 | WELLTOWER INC 3.95% 09/01/23 | 501,215 | ||||
1,200,000 | WESTINGHOUSE AIR BRAKE TECH CORP FRN 3ML+105 09/15 | 1,195,585 | ||||
171,286 | WFMBS 2006-AR11 A6 CSTR 8/36 | 166,711 | ||||
240,000 | WFRBS 2011-C4 A4 0 6/44* | 248,783 | ||||
1,337,667 | WHITEHORSE IX LTD/LLC 3ML+116 07/17/2026 144A | 1,336,326 | ||||
1,600,000 | WHITEHORSE X LTD 3ML+93 04/17/2027 144A | 1,585,413 | ||||
1,000,000 | WYNN LAS VEGAS 5.5% 3/25 144A | 932,500 | ||||
300,000 | Z CAPITAL CREDIT PARTNERS CLO 2015-1 LTD 3ML+95 07 | 297,259 | ||||
|
| |||||
Total Other Fixed Income Securities | $ | 212,240,414 |
47
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
Cash, Cash Equivalents and Other Investments | ||||||
Cash and Cash Equivalents | ||||||
CASH | $ | 1,275,202 | ||||
Cash Collateral | 1,731,550 | |||||
25,299,277 | BBH STIF FUND | 25,299,277 | ||||
10,753,252 | Fidelity Institutional Money Market Portfolio* | 12,019,515 | ||||
7,520,607 | JP MORGAN 100% US TREASURY* | 7,520,607 | ||||
6,755,804 | JPM TREASURY PLUS MMF AGY SHRS* | 6,755,804 | ||||
3,803,394 | JP Morgan Prime* | 3,803,775 | ||||
1,725 | SSBK STIF FUND* | 1,725 | ||||
|
| |||||
Total Cash and Cash Equivalents | $ | 58,407,455 | ||||
Swap Contracts | ||||||
Credit Default Swaps | ||||||
3,000,000 | BOAM CDS 91086QAW8 1% 12/20/19 | $ | 8,210 | |||
2,000,000 | CDS CMBX.NA.AAA.9 0.5 9/58 GS | (7,233 | ) | |||
5,554,409 | CDS GS CMBX NA AAA6 0.5% 5/63 | 34,289 | ||||
(3,100,000) | CDX HY30 5Y ICE 06/20/23 | 4,116 | ||||
(800,000) | CDX IG30 5Y ICE 06/20/23 | 185 | ||||
(2,400,000) | CDX NA HY31 ICE USD 5% 12/23 | 2,752 | ||||
(4,100,000) | CDX NA IG31 ICE 5Y 1% 12/20?23 | 1,100 | ||||
500,000 | CS CDS CMBX.NA.BBB-.9 3% 9/58 | (60,500 | ) | |||
(1,800,000) | DELL INC SNR 12/20/19 GS ICE | 280 | ||||
(600,000) | GENERAL ELECTRIC ICE 12/20/23 | 366 | ||||
(800,000) | GENERAL ELECTRIC S ICE 6/20/23 | 471 | ||||
(500,000) | GENERAL MTR SNR USD 6/22 ICE | 51 | ||||
1,000,000 | JP CDS CMBX.NA.AAA.9 SP 0.5 9/17/58 | (3,617 | ) | |||
(2,000,000) | JPM CDX EM30 ICE SWAP 12/20/23 | 1,747 | ||||
2,600,000 | QATAR GOVT JPM CDS 1% 12/23 | 34,705 | ||||
(800,000) | SPRINT SNR S 12/20/19 GS ICE | (40 | ) | |||
|
| |||||
Total Credit Default Swaps | $ | 16,882 | ||||
Interest Rate Swaps | ||||||
(8,200,000) | BA IRS USD 2Y 1.45% 06/19 CME | $ | (3,158 | ) | ||
7,100,000 | BOA IRS SWAP P1.73 08/26/25 | 78,965 | ||||
(54,600,000) | CME IRS USD 1.75 6/20/20 | (5,993 | ) | |||
89,000,000 | CME IRS USD 2.75 2/25/20 | 3,494 | ||||
62,100,000 | CME IRS USD 3% 09/20/20 | 10,124 | ||||
(300,000) | CS IRS 30YRUSD 2.25% 12/46 CME | (1,132 | ) | |||
(200,000) | CS IRS USD 10Y 1.75% 12/26 LCH | (339 | ) | |||
(600,000) | GS IRS SWAP FUT 08/22/48 | (2,621 | ) |
48
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
(6,800,000) | INFSWEMNI 1.4425% 10Y 12/26 LCH | $ | (1 | ) | ||
6,800,000 | INFSWPEMNI 1.165% 5Y 12/21 LCH | (147,955 | ) | |||
(900,000) | IRS GBP 1.5 03/20/19 5Y LCH | 260 | ||||
(500,000) | IRS GBP 1.50 03/20/29 10Y LCH | 39 | ||||
(7,000,000) | IRS GBP 1.5000 10Y LCH 6/19/29 | 601 | ||||
(13,800,000) | IRS USD 10 YR 2.25% 06/28 LCH | (25,938 | ) | |||
(6,700,000) | IRS USD 2 YR 1.75% 6/20/20 LCH | (977 | ) | |||
(4,100,000) | IRS USD 2.5 6/20/48 30YR CME | (16,541 | ) | |||
(19,700,000) | LCH IRS 2.25% 12/16/22 | (19,414 | ) | |||
(900,000) | LCH IRS EUR 10YR 1% 03/20/29 | 438 | ||||
(11,400,000) | LCH IRS USD 10YR 3% 12/19/28 | (20,336 | ) | |||
(8,500,000) | LCH IRS USD 2YR 2.75% 12/19/20 | (1,291 | ) | |||
(7,000,000) | LCH PIMCO IRS 2. 6/20/25 | (11,291 | ) | |||
(2,000,000) | MSCS IRS SWAP FUT 08/22/48 | (8,683 | ) | |||
(1,800,000) | PIMCO IRS USD 10 2.25% 6/20/28 | (5,364 | ) | |||
|
| |||||
Total Interest Rate Swaps | $ | (177,113 | ) | |||
|
| |||||
Total Swap Contracts | $ | (160,231 | ) | |||
Interest Rate Option Contracts | ||||||
(2,100,000) | CDX IG31 5YR V1 P1.05 02/20/19 | $ | (3,420 | ) | ||
(2,600,000) | CDX IG31 5YR V1 P1.05 2/20/19 | (4,234 | ) | |||
(2,400,000) | EURO-BOBL OEH9 C132.75 1/25/19 | (5,500 | ) | |||
2,300,000 | IRO USD 30Y P2.9425 12/19 GLM | 95,549 | ||||
(10,100,000) | IRO USD 5Y P2.75 12/12/19 GLM | (92,745 | ) | |||
|
| |||||
Total Interest Rate Option Contracts | $ | (10,350 | ) | |||
Futures Contracts*** | ||||||
294,000,000 | 90DAY EURO$ FUTR DEC19 EDZ9 | $ | 7,350 | |||
(136,000,000) | 90DAY EURO$ FUTR DEC20 EDZ0 | (11,900 | ) | |||
117,000,000 | 90DAY EURO$ FUTR JUN19 EDM9 | 1,463 | ||||
4,900,000 | EURO-BUND FUTURE MAR19 RXH9 | — | ||||
(5,900,000) | EURO-OAT FUTURE MAR19 OATH9 | — | ||||
(400,000,000) | JPN 10Y BOND(OSE) MAR19 JBH9 | (2,186 | ) | |||
46,900,000 | US 10YR NOTE (CBT)MAR19 TYH9 | 183,203 | ||||
(31,000,000) | US 2YR NOTE (CBT) MAR19 TUH9 | (21,797 | ) | |||
52,300,000 | US 5YR NOTE (CBT) MAR19 FVH9 | 130,750 | ||||
|
| |||||
Total Futures Contracts | $ | 286,883 | ||||
|
| |||||
Total Cash, Cash Equivalents and Other Investments | $ | 58,523,757 | ||||
|
|
49
Table of Contents
WARNER MEDIA, LLC SAVINGS PLAN
EIN: #82-2449954 Plan #336
Schedule H, Part IV, Line 4(i) – Schedule of Assets
(Held at End of Year) (continued)
December 31, 2018
Shares or Units | Description | Current Value | ||||
Total Investments Excluding Notes Receivable from Participants | $ | 5,087,856,434 | ||||
|
| |||||
Notes Receivable from Participants (interest rates from 4.25% to 10.50% maturing through January 2034)* | $ | 61,257,213 | ||||
|
| |||||
Total Investments | $ | 5,149,113,647 | ||||
|
|
* | Indicates party-in-interest to the Plan. |
** | Difference between total synthetic investment contracts per the Schedule of Assets and per the Statements of Net Assets Available for Benefits is due to the presentation of synthetic investments at market value in the Schedule of Assets and contract value in the Statements of Net Assets Available for Benefits. See footnote 7 for reconciliation of this difference. |
*** | Negative “shares or units” represents the notional values of futures contracts with short positions. |
50
Table of Contents
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee (or other persons who administer the employee benefit plan) has duly caused this annual report to be signed by the undersigned thereunto duly authorized.
Warner Media, LLC Savings Plan | ||||||
By: AT&T Services, Inc., Plan Administrator for the Foregoing Plan | ||||||
By | /s/ Debra L. Dial | |||||
Debra L. Dial | ||||||
Senior Vice President and Controller | ||||||
Date: June 28, 2019 |
Table of Contents
EXHIBIT INDEX
Exhibit identified below, Exhibits 23 is filed herein as exhibit hereto.
Exhibit | ||
23 | Consent of Independent Registered Public Accounting Firm |