UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
__________
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK
PURCHASE, SAVINGS AND SIMILAR PLANS
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One):
x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2014
OR
¨ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______________ to ______________
Commission File Number 1-9936
EDISON 401(K) SAVINGS PLAN
(Full Title of the Plan)
EDISON INTERNATIONAL
(Name of Issuer)
2244 Walnut Grove Avenue (P.O. Box 976), Rosemead, California 91770
(Address of principal executive office)
Edison 401(k) Savings Plan
____________________________________________________________________________________________________
Financial Statements and Supplemental Schedule
As of December 31, 2014 and 2013 and for the Year Ended December 31, 2014
TABLE OF CONTENTS
|
| | | | |
Report of Independent Registered Public Accounting Firm | |
| |
Financial Statements | |
| Statements of Net Assets Available for Plan Benefits as of December 31, 2014 and 2013 | |
| Statements of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 2014 | |
| Notes to Financial Statements | |
| | | | |
Supplemental Schedule | |
| Form 5500, Schedule H, Line 4i-Schedule of Assets (Held at End of Year) | |
| | | | |
Signature | |
| |
Consent of Independent Registered Public Accounting Firm | Exhibit 23 |
Note: All schedules other than that listed above have been omitted since the information is either disclosed elsewhere in the financial statements or not required by 29 CFR 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended.
Report of Independent Registered Public Accounting Firm
Southern California Edison Company
Benefits Committee
Edison 401(k) Savings Plan
Rosemead, California
We have audited the accompanying statements of net assets available for plan benefits of the Edison 401(k) Savings Plan (the “Plan”) as of December 31, 2014 and 2013, and the related statement of changes in net assets available for plan benefits for the year ended December 31, 2014. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, 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. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December 31, 2014 and 2013, and the changes in net assets available for plan benefits for the year ended December 31, 2014, in conformity with accounting principles generally accepted in the United States of America.
The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2014 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.
/s/ BDO USA, LLP
Costa Mesa, California
June 26, 2015
Financial Statements
____________________________________________________________________________________________________
|
| |
Statements of Net Assets Available for Plan Benefits | Edison 401(k) Savings Plan |
|
| | | | | | | |
| December 31, |
(in thousands) | 2014 | | 2013 |
Assets | | | |
Investments, at fair value | $ | 4,076,668 |
| | $ | 3,988,860 |
|
Receivables | | | |
Notes receivable from participant | 81,878 |
| | 91,443 |
|
Dividends receivable | 4,610 |
| | 4,621 |
|
Receivable from brokers and other | 285 |
| | 7,157 |
|
Total receivables | 86,773 |
| | 103,221 |
|
Total assets | 4,163,441 |
| | 4,092,081 |
|
| | | |
Liabilities | | | |
Payable to brokers and others | 10,376 |
| | 48,555 |
|
Total liabilities | 10,376 |
| | 48,555 |
|
| | | |
Net assets available for plan benefits | $ | 4,153,065 |
| | $ | 4,043,526 |
|
See accompanying notes to financial statements.
6
|
| |
Statements of Changes in Net Assets Available for Plan Benefits | Edison 401(k) Savings Plan |
|
| | | |
(in thousands) | For year ended December 31, 2014 |
Additions | |
Investment income | |
Dividends | $ | 29,411 |
|
Interest income and other | 6,792 |
|
Net appreciation in fair value of investments | 401,025 |
|
Total investment income | 437,228 |
|
Less: Management fees | (5,521 | ) |
Net investment income | 431,707 |
|
Interest income on notes receivables from participants | 3,707 |
|
Contributions | |
Employer contributions, net of forfeitures | 72,027 |
|
Participant and rollover contributions | 142,314 |
|
Total net contributions | 214,341 |
|
Total additions | 649,755 |
|
| |
Deductions | |
Distributions to participants | 540,216 |
|
Total deductions | 540,216 |
|
| |
Net increase | 109,539 |
|
Net assets available for plan benefits | |
Beginning of year | 4,043,526 |
|
End of year | $ | 4,153,065 |
|
See accompanying notes to financial statements.
7
NOTES TO FINANCIAL STATEMENTS
The following description of the Edison 401(k) Savings Plan (the “Plan”) provides only general information. The Plan sponsor is the Southern California Edison Company (the “Plan Sponsor”). Participants should refer to the summary plan description and Plan document, as amended, for a more complete description of the Plan's provisions.
Nature of Plan
Eligibility
The Plan is a defined-contribution plan with a 401(k) feature, in which qualifying full-time and part-time employees of Edison International (the “Company”) and many of its subsidiary companies are eligible to participate. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended. An employee, as defined by the Plan document, is eligible to participate in the Plan immediately upon employment.
Contributions
Subject to statutory limits, all participants may defer pre-tax and after-tax dollars up to 84% of eligible pay. Participating employers provide matching contributions up to 6% of a participant's eligible pay. The Company allows employees who have attained age fifty before the close of a Plan year to make catch up contributions subject to Internal Revenue Service (“IRS”) limitations. Certain participating subsidiaries also provide a fixed profit sharing contribution of 3% of eligible pay each pay period to the accounts of eligible employees. Fixed profit sharing contributions in 2014 amounted to approximately $540,000. The Plan also accepts rollover contributions from other qualified plans.
Vesting
Participants immediately vest in their contributions plus actual earnings thereon. Employer contributions plus actual earnings thereon vest at a rate of 20% per year, except for certain employer contributions made to participating subsidiaries which vest in accordance with the provisions of the Plan document. After five years of service or reaching age 65, all existing and future employer contributions and their related earnings are fully vested.
Forfeitures
At December 31, 2014, and 2013, the unused portion of forfeited non-vested accounts totaled $43,000 and $30,000, respectively. These accounts are used to reduce future employer contributions. During 2014, employer contributions were reduced by $1,455,000 from forfeited non-vested accounts.
Plan Trust
Plan assets are held in trust with State Street Bank and Trust Company (the “Trustee”) for the benefit of participants and their beneficiaries. The mutual covenants to which the Plan Sponsor and the Trustee agree are disclosed in the trust agreement between the Plan Sponsor and the Trustee.
Plan Administration
The Plan is administered by the Southern California Edison Company Benefits Committee (the “Plan Administrator”) and Xerox HR Solutions, LLC is the Plan's record keeper. The Plan provides to participants a detailed description of each investment fund choice and lists the respective investment manager.
Administrative and Investment Expenses
The Plan Sponsor pays the cost of administering the Plan, including fees and expenses of the Trustee and record keeper. The fees, taxes and other expenses incurred by the Trustee or investment managers in making investments are paid out of the applicable investment funds. These expenses also include brokerage fees for sales or purchases of Edison International Common Stock on the open market. No additional costs are incurred in connection with sales of Edison International Common Stock within the trust or the transfer of assets between funds.
Mutual funds pay fees to the Plan record keeper for administrative services to participants that would otherwise have to be provided by the mutual funds. The majority of fees received by the Plan record keeper are used to reduce the record keeping and communication expenses of the Plan paid by the Plan Sponsor. See Note 7 for a discussion of related party transactions.
Participant Accounts
Each participant account is adjusted for certain activities, including participant's contribution, the employer's contribution, distributions, loan activities, if applicable, and allocation of investment earnings/losses. Allocation of earnings/losses and expenses is based on account balances. The benefit to which a participant is entitled is the benefit that can be provided from the vested portion of the participant's account.
Notes Receivable from Participants
Participants may borrow from the vested portion of their account, a minimum of $1,000 to a maximum of $50,000, with certain restrictions. Loan transactions are treated as transfers from (to) the investment fund to (from) participant loans. Loan terms range from one to four years for general purpose loans or up to 15 years for the purchase of a primary residence. Loans bear interest at the prime rate in effect at time of loan issuance plus one percent. Interest rates on outstanding loans range from 4.22% to 10.52% as of December 31, 2014 and mature on various dates through November 2029. Principal and interest are paid ratably through payroll deductions. Some separated participants may repay loan obligations directly, rather than through payroll deductions. Participant loans amounted to approximately $81,878,000 and $91,443,000 as of December 31, 2014 and 2013, respectively.
Distribution to Participants
Account balances are distributed as soon as practicable after a participant dies, becomes entitled to and requests a distribution, or terminates employment with an account balance of $5,000 or less. Participants may otherwise delay distribution, subject to the minimum distribution requirements under Internal Revenue Code ("IRC") Section 401(a)-(9). Participants may receive lump sum distributions. An installment form of distribution payment is also available to certain participants. In-service withdrawals may be taken from after-tax contributions, upon attainment of age 59½, or for certain financial hardships. Participants taking in-service withdrawals will be required to pay all applicable taxes on the withdrawals and may be subject to penalty taxes for early withdrawals taken prior to age 59½. Participants who terminate employment with a vested account balance greater than $1,000 but less than or equal to $5,000 will have their vested account balance automatically rolled over to individual retirement accounts (“IRA”) selected by the Chair or Secretary of the Plan Administrator, unless the participants make a timely distribution election.
Edison Mission Energy Chapter 11 Bankruptcy Filing and Sale
In December 2012, Edison Mission Energy and certain of its wholly-owned subsidiaries ("EME") filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court. In March 2014, the Bankruptcy Court approved the sale of substantially all of EME’s assets to NRG Energy, Inc., as well as transactions called for in the Settlement Agreement between EME and Edison International. The sale was completed on April 1, 2014.
As of December 31, 2013 and through March 31, 2014, employees of EME were eligible for benefits in accordance with the provisions of the Plan. Effective April 1, 2014, these employees were no longer eligible for certain benefits, including matching contributions, fixed profit sharing contributions and variable profit sharing contributions. As a result of the completion of the sale of EME, the Plan's distributions increased $63,234,000 and contributions decreased $6,069,000 in 2014 compared to 2013.
In addition, on January 27, 2014, the Plan was amended such that any unvested balance in the Plan for EME's employees as of March 11, 2014 shall fully vest on the date that they cease to be an employee.
Labor Contract Negotiation
Approximately 3,900 of the Company's full-time employees are covered by collective bargaining agreements with the International Brotherhood of Electrical Workers, Local 47 ("IBEW"). The IBEW collective bargaining agreements expired on December 31, 2014 and are currently under negotiation. The parties have agreed to allow the expired agreements to remain in force during ongoing negotiations, subject to either party's right to terminate the agreement on 120 days written notice. The Company has made proposals to IBEW that include, among other things, changes to benefits. The parties have reached a tentative agreement, which is subject to the approval of the IBEW members. As a result, these labor negotiations did not impact the Plan's financial statements at December 31, 2014.
| |
2. | Summary of Significant Accounting Policies |
Basis of Accounting
The financial statements are prepared and presented on the accrual basis of accounting and in conformity with U.S. generally accepted accounting principles ("GAAP") applicable to employee benefit plans and ERISA.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ materially from those estimates.
Risks and Uncertainties
The Plan's investment in Edison International Common Stock amounted to approximately $739,704,000 and $608,398,000 as of December 31, 2014 and 2013, respectively. Such investments represented approximately 18% and 15% of the Plan's net assets as of December 31, 2014 and 2013, respectively. For risks and uncertainties regarding investment in the Company's common stock, participants should refer to the annual report on Form 10-K for the period ended December 31, 2014, and the quarterly report on Form 10-Q for the period ended March 31, 2015 of Edison International.
The Plan provides for various funds that hold investment securities. Investment securities 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 investment securities, it is at least reasonably possible that changes in risk in the near term could materially affect participants' account balances and the amounts reported in the Statements of Net Assets Available for Plan Benefits and the Statement of Changes in Net Assets Available for Plan Benefits.
The Plan participates in various investment options that include securities of foreign companies, which involve special risks and considerations not typically associated with investing in U.S. companies. These risks include devaluation of currencies, less reliable information about issuers, different securities transaction clearance and settlement practices, and possible adverse political and economic developments. Moreover, securities of many foreign companies and their markets may be less liquid and their prices more volatile than securities of comparable U.S. companies.
Investment Valuation and Income Recognition
The Plan's investments are stated at fair value. Fair value is 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. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.
Net Appreciation (Depreciation) in Fair Value of Investments
Realized and unrealized appreciation (depreciation) in the fair value of investments is based on the difference between the fair value of the assets at the beginning of the year, or at the time of assets purchased during the year, and the related fair value on the day investments are sold with respect to realized appreciation (depreciation), or on the last day of the year for unrealized appreciation (depreciation).
Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest.
Notes receivable from participants that are in default, as provided in the Plan document, are treated as deemed distributions for active participants, or loan offsets for terminated participants, for tax purposes and also reported as such in the Form 5500. There were no deemed distributions in 2014. Management has determined that to the extent these notes are loan offsets, they are uncollectible and written-off. For the year ended December 31, 2014, $9,676,000 of notes receivable from participants were loan offsets. This amount is included in “Distributions to participants” in the Statements of Changes in Net Assets Available for Plan Benefits.
Distributions to Participants
Distributions to participants, other than notes receivable from participants, are recorded when paid.
Fair Value Measurements
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 (referred to as an "exit price"). Fair value of an asset or liability considers assumptions that market participants would use in pricing the asset or liability, including assumptions about nonperformance risk. The Plan categorizes financial assets and liabilities into a three-level fair value hierarchy based on valuation inputs used to derive fair value. The hierarchy gives the highest priority to unadjusted quoted market 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:
| |
• | Level 1: The fair value of Level 1 assets and liabilities is determined using unadjusted quoted prices in active markets that are available at the measurement date for identical assets and liabilities; |
| |
• | Level 2: Pricing inputs other than Level 1 that are observable, either directly or indirectly, such as quoted market prices for similar assets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the financial instrument; and |
| |
• | Level 3: The fair value of Level 3 assets and liabilities is determined using the income approach through various models and techniques that require significant unobservable inputs. The Plan does not have any Level 3 assets and liabilities. |
The asset 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 maximize the use of observable inputs and minimize the use of unobservable inputs. There were no changes in the valuation methods during 2014 and 2013. Plan assets carried at fair value are described below.
Edison International Common Stock and investments in equity mutual funds are valued at the unadjusted quoted prices in active or highly liquid and transparent markets and are classified as Level 1.
Collective investment funds and the money market fund are valued at the net asset value of shares held by the Plan and the unit value as reported by the investment manager. These fair values are determined by observable prices and are classified as Level 2 because they trade in markets that are not considered active. Collective investment funds consist of fixed income index funds that seek to track the Barclays Capital Aggregate Bond Index, equity index funds that seek to track the performance of the Standard and Poor’s 500 index, the Russell 1000 growth index, the Russell 2500 index, the MSCI AC World Index excluding the U.S., and a fund that invests in inflation-index bonds issued by the U.S. Treasury.
Investments in separately managed accounts (separate accounts) are managed by external investment managers and include the following: Cash and short-term interest bearing investments with initial maturities of three months or less are recorded at cost, plus accrued interest, which approximates fair value. The value of equity investments, real estate investment trusts, and US Treasury investments in separate accounts is based on quoted market prices in active or highly liquid and transparent markets and is therefore classified as Level 1. The fair value of fixed income investments (including asset-backed securities) in separate accounts are based on evaluated prices that reflect significant observable market information but are classified as Level 2 because they trade in markets that are not considered active. Separate accounts also include minor investments in derivative contracts, including options and futures traded in active markets and swap contracts valued at fair value, as determined by the investment managers taking into consideration exchange quotations on underlying instruments, dealer quotations and other market information.
The self-directed brokerage accounts contain investments stated at quoted market prices for equities and mutual funds and therefore are classified as Level 1. Fixed income investments in this category are classified as Level 2.
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan 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.
The following presents information about the Plan's investments that are measured at fair value on a recurring basis as of December 31, 2014 and 2013, by level within the fair value hierarchy: |
| | | | | | | | | | | | | | | |
| Investments at Fair Value as of December 31, 2014 |
(in thousands) | Level 1 | | Level 2 | | Level 3 | | Total |
Edison International common stock fund | $ | 728,711 |
| | $ | 10,993 |
| | $ | — |
| | $ | 739,704 |
|
Money market fund | — |
| | 453,499 |
| | — |
| | 453,499 |
|
Self-directed brokerage accounts a | 350,892 |
| | 1,566 |
| | — |
| | 352,458 |
|
Mutual fund | 164,874 |
| | — |
| | — |
| | 164,874 |
|
Collective investment funds: | | | | | | | |
U.S. stock index fund | — |
| | 751,470 |
| | — |
| | 751,470 |
|
Treasury inflation protected securities fund | — |
| | 139,215 |
| | — |
| | 139,215 |
|
International fund | — |
| | 335,469 |
| | — |
| | 335,469 |
|
Fixed income (bond) fund b | — |
| | 99,068 |
| | — |
| | 99,068 |
|
Large cap equity fund | — |
| | 170,920 |
| | — |
| | 170,920 |
|
Small/Mid cap equity fund | — |
| | 122,847 |
| | — |
| | 122,847 |
|
Total collective investment funds | — |
| | 1,618,989 |
| | — |
| | 1,618,989 |
|
Separate managed funds: | | | | | | | |
Cash and other short-term investments | — |
| | 6,655 |
| | — |
| | 6,655 |
|
Mutual funds | — |
| | 4,599 |
| | — |
| | 4,599 |
|
Fixed income securities b | 44,320 |
| | 141,824 |
| | — |
| | 186,144 |
|
Common and preferred stocks | | | | | | | |
Large cap equity funds | 306,255 |
| | — |
| | — |
| | 306,255 |
|
Small/Mid cap equity funds | 222,193 |
| | — |
| | — |
| | 222,193 |
|
Other | 13,113 |
| | 8,185 |
| | — |
| | 21,298 |
|
Total separate managed funds | 585,881 |
| | 161,263 |
| | — |
| | 747,144 |
|
Total investments at fair value | $ | 1,830,358 |
| | $ | 2,246,310 |
| | $ | — |
| | $ | 4,076,668 |
|
|
| | | | | | | | | | | | | | | |
| Investments at Fair Value as of December 31, 2013 |
(in thousands) | Level 1 | | Level 2 | | Level 3 | | Total |
Edison International common stock fund | $ | 604,434 |
| | $ | 3,964 |
| | $ | — |
| | $ | 608,398 |
|
Money market fund | — |
| | 492,451 |
| | — |
| | 492,451 |
|
Self-directed brokerage accounts a | 313,188 |
| | 4,938 |
| | — |
| | 318,126 |
|
Mutual fund | 185,931 |
| | — |
| | — |
| | 185,931 |
|
Collective investment funds: | | | | | | | |
U.S. stock index fund | — |
| | 703,164 |
| | — |
| | 703,164 |
|
Treasury inflation protected securities fund | — |
| | 147,300 |
| | — |
| | 147,300 |
|
International fund | — |
| | 338,515 |
| | — |
| | 338,515 |
|
Fixed income (bond) fund b | — |
| | 72,154 |
| | — |
| | 72,154 |
|
Large cap equity fund | — |
| | 307,117 |
| | — |
| | 307,117 |
|
Small/Mid cap equity fund | — |
| | 132,650 |
| | — |
| | 132,650 |
|
Total collective investment funds | — |
| | 1,700,900 |
| | — |
| | 1,700,900 |
|
Separate managed funds: | | | | | | | |
Cash and other short-term investments | — |
| | 8,928 |
| | — |
| | 8,928 |
|
Mutual funds | — |
| | 34,116 |
| | — |
| | 34,116 |
|
Fixed income securities b | 40,057 |
| | 165,067 |
| | — |
| | 205,124 |
|
Common and preferred stocks | | | | | | | |
Large cap equity funds | 155,157 |
| | — |
| | — |
| | 155,157 |
|
Small/Mid cap equity funds | 254,030 |
| | — |
| | — |
| | 254,030 |
|
Other | 12,076 |
| | 13,623 |
| | — |
| | 25,699 |
|
Total separate managed funds | 461,320 |
| | 221,734 |
| | — |
| | 683,054 |
|
Total investments at fair value | $ | 1,564,873 |
| | $ | 2,423,987 |
| | $ | — |
| | $ | 3,988,860 |
|
| |
a | For self-directed accounts, at December 31, 2014 and 2013, respectively, approximately 43% and 41% was invested in mutual funds, 42% and 41% in equities, 14% and 17% in money market mutual funds and 1% and 1% in fixed-income investments. |
| |
b | The majority of dollar amounts of these securities consist of U.S. government securities and agency securities including U.S. treasury notes and bonds. |
The Plan determines the fair value for transfers in and transfers out of each level at the end of each reporting period. There were no transfers between levels during 2014 and 2013.
New Accounting Guidance Not Yet Adopted
On May 1, 2015, the FASB issued an accounting standards update which removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using net asset value per share or its equivalent. This new guidance is effective January 1, 2016.
The Trustee invests contributions in accordance with participant instructions.
Participants may elect changes to their investment mix effective each business day, with certain restrictions. The Plan imposes a seven-day trading restriction for most participants that applies to all funds except the Edison International Common Stock Fund. Reallocation elections are also subject to trading restrictions, redemption fees, or other measures imposed by investment fund managers. Participants may effect changes to their deferral percentages and deferral investment elections coincident with their pay frequency.
The transfer of a participant's investment from one fund to any other fund is based on the net asset value of the units allocated to the participant's account, as of close of market on the date of transfer.
As of December 31, 2014, all participants were able to choose from among 18 investment fund offerings. These investment funds consisted of the following:
| |
• | Tier 1 – Ten Target Date Funds: Premixed allocation of stocks, bonds and cash. Each Target Date fund is built from a combination of the Tier 2 core funds and designed to be more conservative over time as each fund approaches its target date. |
| |
• | Tier 2 – Edison International Common Stock Fund and Seven Institutional Funds representing a range of asset classes: large and small U.S. stocks (including Edison International Common Stock), cash equivalents, non-U.S. stocks and fixed income instruments, with varying degrees of risk and return. |
| |
• | Tier 3 – Self-Directed Brokerage Accounts: Allows participants to select investments from among thousands of publicly traded securities including individual equities, mutual funds, fixed income products, exchange traded funds, real estate investment trusts, and taxable unit investment trusts. |
The Plan Sponsor's Trust Investment Committee may direct the Trustee to establish new investment funds or discontinue existing ones as well as change the investment medium for each investment fund. Participants should refer to the summary plan description for a more complete discussion of the various investment options.
The following presents investments that represent 5 percent or more of the Plan's net assets:
|
| | | | | | | |
| December 31, |
(in thousands, except share amounts) | 2014 | | 2013 |
Investments at fair value as determined by quoted market prices: | | | |
Edison International Common Stock Fund, 11,128,761 and 13,054,717 shares, respectively (See Note 7) | $ | 739,704 |
| | $ | 608,398 |
|
Investments at estimated fair value: | | | |
Money market fund (see Note 7) | 453,499 |
| | 492,451 |
|
U.S. stock index fund | 751,470 |
| | 703,164 |
|
Net Appreciation in Fair Value of Investments:
During 2014, the Plan's investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in value as follows:
|
| | | |
(in thousands) | For year ended December 31, 2014 |
Investments at fair value as determined by quoted market prices: | |
Edison International common stock fund | $ | 224,122 |
|
Self-directed brokerage accounts | 21,644 |
|
| 245,766 |
|
Investments at estimated fair value: | |
Investment funds | 155,259 |
|
Net appreciation in fair value of investments | $ | 401,025 |
|
| |
6. | Reconciliation of Financial Statements to Form 5500 |
The following is a reconciliation of net assets available for plan benefits per the financial statements to the Form 5500:
|
| | | | | | | |
| December 31, |
(in thousands) | 2014 | | 2013 |
Net assets available for plan benefits per the financial statements | $ | 4,153,065 |
| | $ | 4,043,526 |
|
Less: Amounts allocated to withdrawing participants | (1,253 | ) | | (2,619 | ) |
Net assets available for plan benefits per the Form 5500 | $ | 4,151,812 |
| | $ | 4,040,907 |
|
| | | |
The following is a reconciliation of total deductions per the financial statements to the Form 5500:
|
(in thousands) | | | For year ended December 31, 2014 |
Total deductions per the financial statements | | | $ | 540,216 |
|
Add: Amounts allocated to withdrawing participants at December 31, 2014 | | | 1,253 |
|
Less: Amounts allocated to withdrawing participants at December 31, 2013 | | | (2,619 | ) |
Benefits paid to participants per the Form 5500 | | | $ | 538,850 |
|
Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31 but not paid as of that date.
| |
7. | Related-Party Transactions |
Certain Plan investments, including investments held in the trust, are shares of funds managed by the Trustee. The Plan also invests in the Edison International Common Stock Fund. The Plan Sponsor provides services to the Plan. These transactions qualify as party-in-interest transactions under ERISA.
The Money Market Fund is managed by State Street Bank and Trust Company, which also serves as the Plan's Trustee. Fees earned by the Trustee in its capacity as fund manager for the Plan were $233,000 for 2014 and were reported as “Management fees” on the Statement of Changes in Net Assets Available for Plan Benefits.
The Plan's investment options include the Company's Common Stock as a fund option. See Note 2 for a discussion of the amount of the Plan's investment in the Company's Common Stock. In addition, State Street Global Advisors, an affiliate of State Street Bank and Trust Company, is the investment manager of the Edison International Common Stock Fund. Fees earned by State Street Global Advisors in its capacity as the investment manager of the Edison International Common Stock Fund were $106,000 for 2014 and were reported as “Management fees” on the Statement of Changes in Net Assets Available for Plan Benefits.
Certain investment fund managers have provided credits to Xerox HR Solutions LLC of $424,000 for administrative and other services rendered to the Plan by the Plan Sponsor. These credits were used to reduce Xerox HR Solutions LLC’s charge to the Plan Sponsor for services provided to the Plan.
See Note 10 below regarding Edison International Common Stock Fund dividend payments.
Although it has not expressed intent to do so, the Plan Sponsor has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become fully vested in their accounts. The Trust will continue after termination until all Trust assets have been distributed to participants and their beneficiaries.
The IRS has determined and informed the Plan Sponsor by a letter dated September 29, 2014 that the Plan and related trust are designed in accordance with the applicable qualification sections of the IRC.
Accounting principles generally accepted in the United States require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that
as of December 31, 2014, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits relative to the Plan for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examination for years prior to 2011.
| |
10. | Employee Stock Ownership Plan |
The Edison International Common Stock Fund constitutes an employee stock ownership plan that allows for the current distribution of dividends to the accounts of all participants through the Plan. Such distributions amounted to approximately $2,778,000 for the year ended December 31, 2014. On December 11, 2014, the Board of Directors of Edison International declared a common stock dividend of $0.4175 per share which was paid on February 2, 2015 to the shareholders of record as of December 31, 2014. As the record date was at year end, dividend income of $0.4175 per share amounting to approximately $4,610,000 was accrued and included in “Dividends receivable” in the accompanying financial statements at December 31, 2014. For the year ended December 31, 2013, $4,621,000 was accrued in dividend receivable and paid on April 30, 2014.
Supplemental Schedule
____________________________________________________________________________________________________
|
| |
Form 5500 Schedule H, Line 4i - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | | EIN: 95-1240335 |
| | | | Plan Number: 002 |
| | | | | |
(a) | (b) | | (c) | (d) | (e) |
| Identity of Issue, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | Cost** | Current Value (in thousands) |
Edison International common stock fund |
* | Edison International | | Common stock - no par value | | $ | 739,704 |
|
Money market fund |
* | State Street Bank & Trust Co. | | Money market fund - collective instrument in the State Street Bank short-term income fund | | 453,499 |
|
Investment funds |
| BlackRock Global Investors | | Collective investment in the core Standard & Poor 500 index fund | | 751,470 |
|
| BlackRock Global Investors | | Collective investment in the core treasury inflation protected securities fund | | 139,215 |
|
| PIMCO*** | | Separate managed account in the core bond fund | | 102,571 |
|
| BlackRock Global Investors | | Collective investment in the core bond fund | | 99,068 |
|
| Dodge & Cox*** | | Separate managed account in the core bond fund | | 97,752 |
|
| Thornburg Investment | | Collective investment in the core international stock fund | | 173,784 |
|
| Dodge & Cox | | Mutual fund in the core international stock fund | | 164,874 |
|
| BlackRock Global Investors | | Collective investment in the core international stock fund | | 161,685 |
|
| BlackRock Global Investors | | Collective investment in the core Standard & Poor 500 index (large company stock) fund | | 170,920 |
|
| Institutional Capital Corporation*** | | Separate managed account in the core U.S. large company stock fund | | 157,322 |
|
| Westwood Group*** | | Separate managed account in the core U.S. small-medium company stock fund | | 59,165 |
|
| Delaware Investments*** | | Separate managed account in the core U.S. small-medium company stock fund | | 60,812 |
|
| BlackRock Global Investors | | Collective investment in the core U.S. small-medium company stock fund | | 122,847 |
|
| AJO Partners*** | | Separate managed account in the core U.S. small-medium company stock fund | | 59,239 |
|
| Next Century*** | | Separate managed account in the core U.S. small-medium company stock fund | | 59,323 |
|
| Loomis Sayles*** | | Separate managed account in the core U.S. large company stock fund | | 150,960 |
|
| | | Total common collective and separate managed funds | | 2,531,007 |
|
Self-directed brokerage accounts |
| Charles Schwab | | Self-directed brokerage accounts | | 352,458 |
|
| | | Total investments | | 4,076,668 |
|
Notes receivable from participants |
* | Notes receivable from participants | | Loans with maturities varying from one to four years (or up to 15 years for purchase of a primary residence) and interest rates of 4.22% to 10.52% | | 81,878 |
|
| | | Total | | $ | 4,158,546 |
|
| |
** | Investments are participant-directed; therefore, disclosure of cost is not required. |
*** See investment details of the separate managed investments in the appendix of the Schedule of Assets.
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) |
| (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value |
| Current Value |
| PIMCO | | AETNA INC SR UNSECURED 11/24 3.5 | | $ | 559,042 |
|
| | | FNMA TBA 15 YR 3.5 SINGLE FAMILY MORTGAGE | | 1,054,824 |
|
| | | FNMA TBA 30 YR 5 SINGLE FAMILY MORTGAGE | | 1,103,574 |
|
| | | FNMA TBA 30 YR 6 SINGLE FAMILY MORTGAGE | | (1,134,023 | ) |
| | | ALLY FINANCIAL INC COMPANY GUAR 02/15 8.3 | | 502,500 |
|
| | | ALLY FINANCIAL INC COMPANY GUAR 02/17 5.5 | | 525,000 |
|
| | | ALLY FINANCIAL INC COMPANY GUAR 06/15 4.625 | | 201,500 |
|
| | | AMAZON.COM INC SR UNSECURED 12/21 3.3 | | 354,792 |
|
| | | AMAZON.COM INC SR UNSECURED 12/24 3.8 | | 486,647 |
|
| | | AMGEN INC SR UNSECURED 05/19 2.2 | | 647,268 |
|
| | | APPLE INC SR UNSECURED 05/21 2.85 | | 102,296 |
|
| | | MORGAN STANLEY + CO INC CASH COLL (CCP) | | 69,000 |
|
| | | BP CAPITAL MARKETS PLC COMPANY GUAR 11/22 2.5 | | 232,932 |
|
| | | BANC OF AMERICA COMMERCIAL MOR BACM 2006 5 A2 | | 290,719 |
|
| | | BANK OF AMERICA CORP SR UNSECURED 04/15 4.5 | | 1,312,215 |
|
| | | BANK OF AMERICA CORP SR UNSECURED 03/16 3.625 | | 1,439,333 |
|
| | | BARCLAYS CASH COLLATERAL CCBCYCUS6 | | 9,000 |
|
| | | BEAR STEARNS ADJUSTABLE RATE M BSARM 2004 10 11A1 | | 557,391 |
|
| | | BEAR STEARNS COMMERCIAL MORTGA BSCMS 2005 PW10 A4 | | 502,699 |
|
| | | CD COMMERCIAL MORTGAGE TRUST CD 2005 CD1 A4 | | 570,623 |
|
| | | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2004 28CB 5A1 | | 329,826 |
|
| | | COUNTRYWIDE HOME LOANS CWHL 2004 HYB2 6A | | 300,140 |
|
| | | CARDINAL HEALTH INC SR UNSECURED 11/19 2.4 | | 498,374 |
|
| | | CISCO SYSTEMS INC SR UNSECURED 09/15 VAR | | 1,300,034 |
|
| | | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2005 8 3A1 | | 394,634 |
|
| | | CITIGROUP CAPITAL XIII PREFERRED STOCK 10/40 VAR | | 265,800 |
|
| | | CLOROX COMPANY SR UNSECURED 01/15 5 | | 700,838 |
|
| | | CONOCOPHILLIPS COMPANY GUAR 11/21 2.875 | | 605,982 |
|
| | | CREDIT SUISSE MORTGAGE TRUST CSMC 2006 C5 A1A | | 1,069,963 |
|
| | | CREDIT SUISSE NY | | 1,400,000 |
|
| | | DEUTSCHE TELEKOM INT FIN COMPANY GUAR 03/16 5.75 | | 316,799 |
|
| | | DISH DBS CORP COMPANY GUAR 04/18 4.25 | | 1,429,750 |
|
| | | EKSPORTFINANS ASA SR UNSECURED 09/15 2 | | 901,053 |
|
| | | FANNIE MAE NOTES 05/17 5 | | 109,414 |
|
| | | FANNIE MAE NOTES 02/18 0.875 | | 98,854 |
|
| | | FANNIE MAE NOTES 05/18 0.875 | | 98,337 |
|
| | | FANNIE MAE NOTES 09/18 1.875 | | 101,628 |
|
| | | FANNIE MAE FNR 2012 55 PC | | 1,765,401 |
|
| | | FNMA POOL 257290 FN 07/18 FIXED 4.5 | | 745,640 |
|
| | | FREDDIE MAC FHR 3901 LA | | 131,484 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) |
| (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value |
| Current Value |
| PIMCO | | FREDDIE MAC NOTES 10/19 1.25 | | $ | 3,717,810 |
|
| | | FREDDIE MAC NOTES 01/18 0.75 | | 4,632,550 |
|
| | | FREDDIE MAC NOTES 03/18 0.875 | | 98,795 |
|
| | | FNMA POOL 469379 FN 11/21 FIXED 3.14 | | 3,591,272 |
|
| | | FNMA POOL 471600 FN 06/22 FIXED 2.64 | | 303,856 |
|
| | | FNMA POOL AH2317 FN 02/41 FIXED 6 | | 19,371 |
|
| | | FNMA POOL AL1983 FN 05/22 FIXED VAR | | 512,290 |
|
| | | FNMA POOL AW3558 FN 05/29 FIXED 3 | | 493,164 |
|
| | | FNMA POOL 654528 FN 12/17 FIXED 4.5 | | 114,522 |
|
| | | FANNIE MAE FNR 2004 10 ZB | | 56,826 |
|
| | | FREDDIE MAC FHR 2882 ZC | | 15,810 |
|
| | | FNMA POOL 702657 FN 06/18 FIXED 4.5 | | 124,516 |
|
| | | FNMA POOL 725236 FN 03/34 FIXED VAR | | 18,260 |
|
| | | FNMA POOL 831834 FN 09/36 FIXED 6 | | 1,285,430 |
|
| | | FNMA POOL 888638 FN 09/37 FIXED VAR | | 552,624 |
|
| | | FNMA POOL 894948 FN 08/36 FIXED 6 | | 34,998 |
|
| | | FNMA POOL 995279 FN 12/38 FIXED VAR | | 29,900 |
|
| | | FORD MOTOR CREDIT CO LLC SR UNSECURED 04/15 7 | | 1,627,531 |
|
| | | GOLDMAN SACHS GROUP INC SR UNSECURED 12/17 VAR | | 998,523 |
|
| | | INDU + COML BNK CHINA NY SR UNSECURED 11/19 3.231 | | 502,104 |
|
| | | INDYMAC INDA MORTGAGE LOAN TRU INDA 2005 AR1 3A1 | | 553,437 |
|
| | | INGRAM MICRO INC SR UNSECURED 12/24 4.95 | | 249,918 |
|
| | | INTL LEASE FINANCE CORP SR UNSECURED 03/17 8.75 | | 886,000 |
|
| | | INTL LEASE FINANCE CORP SR UNSECURED 05/16 5.75 | | 311,250 |
|
| | | INTESA SANPAOLO NEW YORK CERT OF DEPO 04/15 1.65 | | 1,403,310 |
|
| | | JPMORGAN CHASE + CO SR UNSECURED 02/17 VAR | | 897,728 |
|
| | | JP MORGAN MORTGAGE TRUST JPMMT 2005 A5 2A2 | | 1,587,341 |
|
| | | JPMORGAN CHASE + CO SR UNSECURED 06/15 3.4 | | 1,519,415 |
|
| | | JP MORGAN CHASE COMMERCIAL MOR JPMCC 2006 LDP8 A1A | | 177,656 |
|
| | | KLA TENCOR CORP SR UNSECURED 11/21 4.125 | | 102,433 |
|
| | | KLA TENCOR CORP SR UNSECURED 11/24 4.65 | | 310,574 |
|
| | | KINDER MORGAN INC/DELAWA COMPANY GUAR 12/19 3.05 | | 99,205 |
|
| | | KOREA DEVELOPMENT BANK SR UNSECURED 08/17 3.5 | | 208,198 |
|
| | | KRAFT FOODS GROUP INC SR UNSECURED 06/15 1.625 | | 401,704 |
|
| | | KROGER CO/THE COMPANY GUAR 10/15 3.9 | | 735,462 |
|
| | | MCKESSON CORP SR UNSECURED 09/15 VAR | | 900,281 |
|
| | | MERRILL LYNCH MORTGAGE INVESTO MLMI 2003 A2 2A2 | | 98,039 |
|
| | | MLCC MORTGAGE INVESTORS INC MLCC 2004 G A1 | | 139,287 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| PIMCO | | MORGAN STANLEY CAPITAL I TRUST MSC 2005 HQ7 A4 | | $ | 450,418 |
|
| | | MORGAN STANLEY SR UNSECURED 05/19 7.3 | | 474,458 |
|
| | | MORGAN STANLEY CAPITAL I TRUST MSC 2007 HQ13 A2 | | 784,620 |
|
| | | HELLENIC RAILWAY ORG GOVT GUARANT 12/16 4.5 | | 86,495 |
|
| | | ONEOK PARTNERS LP COMPANY GUAR 02/16 3.25 | | 306,007 |
|
| | | OWENS CORNING COMPANY GUAR 12/24 4.2 | | 246,717 |
|
| | | PETROBRAS GLOBAL FINANCE COMPANY GUAR 03/18 5.875 | | 585,882 |
|
| | | PETROBRAS GLOBAL FINANCE COMPANY GUAR 03/19 7.875 | | 1,052,370 |
|
| | | PIMCO FDS SHORT TERM FLTG NAV MUTUAL FUND | | 4,599,337 |
|
| | | SLM STUDENT LOAN TRUST SLMA 2002 7X A5 REGS | | 54,785 |
|
| | | RESIDENTIAL ACCREDIT LOANS, IN RALI 2005 QA1 A1 | | 319,807 |
|
| | | ROYAL BK OF CANADA | | 1,295,057 |
|
| | | NAVIENT CORP SR UNSECURED 01/17 6 | | 733,250 |
|
| | | SAN FRANCISCO CITY CNTY CA C SFOCTF 11/41 FIXED 6.487 | | 1,936,710 |
|
| | | SANTANDER DRIVE AUTO RECEIVABL SDART 2014 4 A1 | | 370,007 |
|
| | | SPRINT CAPITAL CORP COMPANY GUAR 05/19 6.9 | | 204,000 |
|
| | | STATOIL ASA COMPANY GUAR 11/18 VAR | | 901,352 |
|
| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 83,660 |
|
| | | STRUCTURED ADJUSTABLE RATE MOR SARM 2005 2 A2 | | 143,231 |
|
| | | STRUCTURED ASSET SECURITIES CO SASC 2004 13 2A1 | | 682,560 |
|
| | | TELEFONICA EMISIONES SAU COMPANY GUAR 02/16 3.992 | | 308,548 |
|
| | | THORNBURG MORTGAGE SECURITIES TMST 2006 5 A1 | | 167,640 |
|
| | | TSY INFL IX N/B 01/25 2.375 | | 8,430,239 |
|
| | | US TREASURY N/B 05/44 3.375 | | 4,615,702 |
|
| | | US TREASURY N/B 08/44 3.125 | | 9,473,746 |
|
| | | US TREASURY N/B 09/21 2.125 | | 657,313 |
|
| | | US TREASURY N/B 11/24 2.25 | | 4,857,419 |
|
| | | US TREASURY N/B 12/17 1 | | 399,062 |
|
| | | UNITEDHEALTH GROUP INC SR UNSECURED 12/19 2.3 | | 602,478 |
|
| | | VERIZON COMMUNICATIONS SR UNSECURED 09/23 5.15 | | 110,423 |
|
| | | VERIZON COMMUNICATIONS SR UNSECURED 11/21 3 | | 961,578 |
|
| | | WACHOVIA BANK COMMERCIAL MORTG WBCMT 2006 C27 A1A | | 120,660 |
|
| | | WALGREENS BOOTS ALLIANCE SR UNSECURED 05/16 VAR | | 499,985 |
|
| | | WELLS FARGO MORTGAGE BACKED SE WFMBS 2003 E A1 | | 444,858 |
|
| | | WELLS FARGO HOME EQUITY TRUST WFHET 2005 2 M5 | | 104,479 |
|
| | | DEUTCHE BANK CCD CCDEUCUS4 DEUTCHE CCD | | 1,000 |
|
| | | GOLDMAN CCP USD GOLDMAN CCP CCGSCCUS0 | | 460,000 |
|
| | | WORLD OMNI AUTOMOBILE LEASE SE WOLS 2014 A A1 | | 200,332 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| PIMCO | | CCFOBZUS0 CREDIT SUISSE CCP US CCFOBZUS0 CASH COLL CCP COC US | | $ | 413,000 |
|
| | | SWAP BANK OF AMERICA BOC SWAP CASH COLLATERAL USD | | (270,000 | ) |
| | | MORGAN STANLEY CAP SVCS BOC SWAP CASH COLLATERAL USD | | (33,000 | ) |
| | | SWPC383G9 CDS USD R F 5.00000 | | 280,026 |
|
| | | SWPC383G9 CDS USD P V 03MEVENT | | (282,000 | ) |
| | | SWPC885M9 CDS USD R F 1.00000 | | 1,317,408 |
|
| | | SWPC885M9 CDS USD P V 03MEVENT | | (1,300,000 | ) |
| | | SWU001RO4 IRS MXN R F 5.50000 VANILLA | | 19,838 |
|
| | | SWU001RO4 IRS MXN P V 01MTIIE VANILLA | | (20,353 | ) |
| | | SWU003FJ4 IRS USD R F 1.00000 OIS 1.0 FEDL01 101515 CME CCP | | 993,418 |
|
| | | SWU003FJ4 IRS USD P V 00MFFED FEDL01 10/15/15 CME CCP | | (1,000,000 | ) |
| | | SWU004M21 IRS MXN R F 5.75000 VANILLA | | 6,686 |
|
| | | SWU004M21 IRS MXN P V 01MTIIE VANILLA | | (6,784 | ) |
| | | SWU004MY1 IRS MXN R F 5.75000 VANILLA | | 6,686 |
|
| | | SWU004MY1 IRS MXN P V 01MTIIE VANILLA | | (6,784 | ) |
| | | SWU004NJ3 IRS MXN R F 5.75000 VANILLA | | 3,343 |
|
| | | SWU004NJ3 IRS MXN P V 01MTIIE VANILLA | | (3,392 | ) |
| | | BWU004X94 IRS USD R V 03MLIBOR CME CCP | | 1,745,401 |
|
| | | BWU004X94 IRS USD P F 3.50000 CME CCP | | (2,100,000 | ) |
| | | SWPC00Y83 CDS USD R F 1.00000 SOVEREIGN | | 398,613 |
|
| | | SWPC00Y83 CDS USD P V 03MEVENT SOVEREIGN | | (400,000 | ) |
| | | SWPC236P8 CDS USD R F 1.00000 SOVEREIGN | | 1,594,454 |
|
| | | SWPC236P8 CDS USD P V 03MEVENT SOVEREIGN | | (1,600,000 | ) |
| | | SWPC02DJ8 CDS USD R F 1.00000 | | 4,024,993 |
|
| | | SWPC02DJ8 CDS USD P V 03MOTC | | (4,000,000 | ) |
| | | SWPC02PY2 CDS USD R F 1.00000 CORPORATE | | 1,843,693 |
|
| | | SWPC02PY2 CDS USD P V 03MEVENT CORPORATE | | (1,800,000 | ) |
| | | SWPC02RC8 CDS USD R F 1.00000 CORPORATE | | 1,846,439 |
|
| | | SWPC02RC8 CDS USD P V 03MEVENT CORPORATE | | (1,800,000 | ) |
| | | SWPC02RA2 CDS USD R F 1.00000 CORPORATE | | 1,837,406 |
|
| | | SWPC02RA2 CDS USD P V 03MEVENT CORPORATE | | (1,800,000 | ) |
| | | SWPC02R87 CDS USD R F 1.00000 CORPORATE | | 1,832,890 |
|
| | | SWPC02R87 CDS USD P V 03MEVENT CORPORATE | | (1,800,000 | ) |
| | | SWPC03EO4 CDS USD R F 1.00000 SOVEREIGN | | 896,506 |
|
| | | SWPC03EO4 CDS USD P V 03MEVENT SOVEREIGN | | (900,000 | ) |
| | | SWPC03EP1 CDS USD R F 1.00000 SOVEREIGN | | 597,670 |
|
| | | SWPC03EP1 CDS USD P V 03MEVENT SOVEREIGN | | (600,000 | ) |
| | | SWPC03EQ9 CDS USD R F 1.00000 SOVEREIGN | | 896,506 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| PIMCO | | SWPC03EQ9 CDS USD P V 03MEVENT SOVEREIGN | | $ | (900,000 | ) |
| | | SWPC03FY1 CDS USD R F 1.00000 SOVEREIGN | | 397,669 |
|
| | | SWPC03FY1 CDS USD P V 03MEVENT SOVEREIGN | | (400,000 | ) |
| | | SWPC04S66 CDS EUR R F 1.00000 FIX SOVEREIGN | | 572,185 |
|
| | | SWPC04S66 CDS EUR P V 03MEVENT FLO SOVEREIGN | | (605,025 | ) |
| | | SWPC04XX1 CDS USD R F 1.00000 4AB951AB1 | | 301,761 |
|
| | | SWPC04XX1 CDS USD P V 00MEVENT US465410AH18 | | (300,000 | ) |
| | | SWU009GC5 IRS MXN R F 5.50000 SWU009GC5 CCPVANILLA CME | | 132,382 |
|
| | | SWU009GC5 IRS MXN P V 01MTIIE SWUV09GC7 CCPVANILLA CME | | (135,688 | ) |
| | | SWPC02J45 CDS USD R F .11000 1 ABX | | 1,012,004 |
|
| | | SWPC02J45 CDS USD P V 01MEVENT 2 ABX | | (1,265,252 | ) |
| | | SWPC02J52 CDS USD R F .11000 1 ABX | | 289,144 |
|
| | | SWPC02J52 CDS USD P V 01MEVENT 2 ABX | | (361,500 | ) |
| | | BWU009X02 IRS USD R V 03MLIBOR SWUV09X04 CCPVANILLA | | 4,964,628 |
|
| | | BWU009X02 IRS USD P F 3.00000 SWU009X02 CCPVANILLA | | (5,300,000 | ) |
| | | SWU00AFR0 IRS MXN R F 5.60000 SWU00AFR0 CCPVANILLA CME | | 417,474 |
|
| | | SWU00AFR0 IRS MXN P V 01MTIIE SWUV0AFR2 CCPVANILLA CME | | (407,063 | ) |
| | | SWU00AFO7 IRS MXN R F 5.00000 SWU00AFO7 CCPVANILLA CME | | 27,457 |
|
| | | SWU00AFO7 IRS MXN P V 01MTIIE SWUV0AFO9 CCPVANILLA CME | | (27,138 | ) |
| | | SWU00AI63 IRS MXN R F 6.35000 SWU00AI63 CCPVANILLA | | 35,221 |
|
| | | SWU00AI63 IRS MXN P V 01MTIIE SWUV0AI65 CCPVANILLA | | (33,922 | ) |
| | | SWPC06NT6 CDS USD R F 1.00000 FIX SOVEREIGN | | 297,115 |
|
| | | SWPC06NT6 CDS USD P V 03MEVENT FLO SOVEREIGN | | (300,000 | ) |
| | | SWPC06O16 CDS USD R F 1.00000 FIX SOVEREIGN | | 297,115 |
|
| | | SWPC06O16 CDS USD P V 03MEVENT FLO SOVEREIGN | | (300,000 | ) |
| | | SWPC06SY0 CDS USD R F 1.00000 FIX SOVEREIGN | | 198,077 |
|
| | | SWPC06SY0 CDS USD P V 03MEVENT FLO SOVEREIGN | | (200,000 | ) |
| | | SWPC06WV1 CDS USD R F 1.00000 1 CCPCDX | | 22,556,727 |
|
| | | SWPC06WV1 CDS USD P V 03MEVENT 2 CCPCDX | | (22,200,000 | ) |
| | | BWU00AO66 IRS USD R V 03MLIBOR SWUV0AO68 CCPVANILLA | | 2,631,909 |
|
| | | BWU00AO66 IRS USD P F 2.55000 SWU00AO66 CCPVANILLA | | (2,700,000 | ) |
| | | SWPC07DX6 CDS USD R F 1.00000 FIX SOVEREIGN | | 403,584 |
|
| | | SWPC07DX6 CDS USD P V 03MEVENT FLO SOVEREIGN | | (400,000 | ) |
| | | SWPC31H95 CDS USD R F 5.00000 FIX CDXTRANCHE | | 284,857 |
|
| | | SWPC31H95 CDS USD P V 03MEVENT FLO CDXTRANCHE | | (250,000 | ) |
| | | SWPC31J02 CDS USD R F 5.00000 FIX CDXTRANCHE | | 284,857 |
|
| | | SWPC31J02 CDS USD P V 03MEVENT FLO CDXTRANCHE | | (250,000 | ) |
| | | SWPC07B18 CDS USD R F 5.00000 FIX CORPORATE | | 203,733 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| PIMCO | | SWPC07B18 CDS USD P V 03MEVENT FLO CORPORATE | | $ | (200,000 | ) |
| | | SWU00B664 IRS MXN R F 6.00000 SWU00B664 CCPVANILLA CME | | 6,810 |
|
| | | SWU00B664 IRS MXN P V 01MTIIE SWUV0B666 CCPVANILLA CME | | (6,784 | ) |
| | | SWU00A3Z5 IRS MXN R F 5.75000 SWU00A3Z5 CCPVANILLA CME | | 3,344 |
|
| | | SWU00A3Z5 IRS MXN P V 01MTIIE SWUV0A3Z7 CCPVANILLA CME | | (3,392 | ) |
| | | SWU00B649 IRS MXN R F 5.75000 SWU00B649 CCPVANILLA CME | | 68,720 |
|
| | | SWU00B649 IRS MXN P V 01MTIIE SWUV0B641 CCPVANILLA CME | | (67,844 | ) |
| | | BWU00B888 IRS USD R V 03MLIBOR SWUV0B880 CCPVANILLA | | 3,491,881 |
|
| | | BWU00B888 IRS USD P F 1.80000 SWU00B888 CCPVANILLA | | (3,500,000 | ) |
| | | BWU00B938 IRS USD R V 03MLIBOR SWUV0B930 CCPVANILLA | | 1,692,028 |
|
| | | BWU00B938 IRS USD P F 1.85000 SWU00B938 CCPVANILLA | | (1,700,000 | ) |
| | | 3175030L5 OTC EPUT USD VS JPY FEB19 80.0 PUT | | (1,560 | ) |
| | | 317U557G4 IRO EUR 10Y GLM JAN15 1.2 CALL | | (67,022 | ) |
| | | 317U729G7 IRO USD 10Y P 2.8000 FEB15 2.8 PUT | | (110 | ) |
| | | 317U958G9 IRO USD 5Y P 2.6000 SEP15 2.6 PUT | | (7,878 | ) |
| | | 317U986G5 IRO EUR 10Y C 0.9500 MAR15 0.95 CALL | | (5,743 | ) |
| | | 317U987G4 IRO EUR 10Y P 1.5500 MAR15 1.55 PUT | | (81 | ) |
| | | 317515NM2 CDX.O P 1.10 IG23 5Y JAN15 1.1 PUT | | (60 | ) |
| | | 317541GI5 ITRAXX P1.1EU22 5Y JAN15 1.1 PUT | | (6 | ) |
| | | 317541GL8 ITRAXX.O P 1.20 EU22 JAN15 1.2 PUT | | (4 | ) |
| | | 317541GT1 ITRAXX.O C 0.60 EU22 JAN15 0.6 CALL | | (1,296 | ) |
| | | 317541GQ7 ITRAXX.O P 1.00 EU22 JAN15 1 PUT | | (33 | ) |
| | | 317541GW4 ITRAXX.O EU22 5Y GST JAN15 0.6 CALL | | (707 | ) |
| | | 317541GV6 ITRAXX.O EU22 5Y GST JAN15 1 PUT | | (33 | ) |
| | | 317541LV0 ITRAXX.O P 0.90 EU22 JAN15 0.9 PUT | | (78 | ) |
| | | 317541LX6 ITRAXX.O P 0.90 EU22 JAN15 0.9 PUT | | (78 | ) |
| | | 317541LW8 ITRAXX.O C 0.60 EU22 JAN15 0.6 CALL | | (589 | ) |
| | | 317541HG8 ITRAXX.O EU22 5Y SOG JAN15 0.9 PUT | | (47 | ) |
| | | 317541HI4 ITRAXX.O C 0.60 EU22 JAN15 0.6 CALL | | (353 | ) |
| | | 3175NAB24 CDX.O C 0.55 IG23 5Y FEB15 0.55 CALL | | (435 | ) |
| | | 3175NAB16 CDX.O P 0.80 IG23 5Y FEB15 0.8 PUT | | (5,175 | ) |
| | | 317541T59 ITRAXX.O C 0.55 EU22 FEB15 0.55 CALL | | (377 | ) |
| | | 317541F62 ITRAXX.O P 0.85 EU22 FEB15 0.85 PUT | | (379 | ) |
| | | 317U480H4 IRO USD 2Y C 1.1400 DEC15 1.14 CALL | | 29,782 |
|
| | | 317U476H0 IRO USD 10Y C 2.1500 DEC15 2.15 CALL | | (43,258 | ) |
| | | 317U518H0 IRO USD 10Y P 2.4200 JAN15 2.42 PUT | | (1,566 | ) |
| | | 3175NA232 CDX.O P 0.85 IG23 5Y FEB15 0.85 PUT | | (2,334 | ) |
| | | 317U536H8 IRO USD 10Y C 2.0000 DEC15 2 CALL | | (8,354 | ) |
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| PIMCO | | 317U535H9 IRO USD 2Y C 1.1250 DEC15 1.125 CALL | | $ | 7,130 |
|
| | | 317515QN7 CDX.O P 1.00 IG23 5Y MAR15 1 PUT | | (2,972 | ) |
| | | 3175NA315 ITRAXX.O P 0.90 EU22 JAN15 0.9 PUT | | (533 | ) |
| | | 3175NA323 ITRAXX.O P 0.85 EU22 JAN15 0.85 PUT | | (399 | ) |
| | | BUONI POLIENNALI DEL TES BONDS 05/17 4.75 | | 132,589 |
|
| | | BUONI POLIENNALI DEL TES BONDS 06/17 4.75 | | 132,902 |
|
| | | GRANITE MASTER ISSUER PLC GRANM 2006 1X A7 REGS | | 245,524 |
|
| | | BONOS Y OBLIG DEL ESTADO BONDS 01/18 4.5 | | 405,654 |
|
| | | BUONI POLIENNALI DEL TES BONDS 05/16 2.25 | | 371,818 |
|
| | | BUONI POLIENNALI DEL TES BONDS 05/17 1.15 | | 244,937 |
|
| | | LETRA TESOURO NACIONAL BILLS 10/15 0.00000 | | 1,030,709 |
|
| | | GRANITE MASTER ISSUER PLC GRANM 2005 1 A5 REGS | | 214,819 |
|
| | | GRANITE MASTER ISSUER PLC GRANM 2005 1 A6 REGS | | 218,243 |
|
| | | ICICI BANK LTD/HONG KONG SR UNSECURED REGS 11/20 5.75 | | 1,109,728 |
|
| | | Total PIMCO | | 102,570,970 |
|
| Dodge & Cox | | TIME WARNER INC COMPANY GUAR 04/31 7.625 | | 1,010,748 |
|
| | | TIME WARNER INC COMPANY GUAR 05/32 7.7 | | 381,466 |
|
| | | AT+T INC SR UNSECURED 02/39 6.55 | | 616,288 |
|
| | | AMERICAN EXPRESS CREDIT ACCOUN AMXCA 2014 4 A | | 499,165 |
|
| | | BNP PARIBAS SUBORDINATED 10/24 4.25 | | 732,462 |
|
| | | BAC CAPITAL TRUST XI LIMITD GUARA 05/36 6.625 | | 670,188 |
|
| | | BANK OF AMERICA CORP SR UNSECURED 06/19 7.625 | | 501,574 |
|
| | | BANK OF AMERICA CORP SR UNSECURED 07/20 5.625 | | 313,112 |
|
| | | BANK OF AMERICA CORP SUBORDINATED 08/24 4.2 | | 494,082 |
|
| | | BARCLAYS PLC SUBORDINATED 09/24 4.375 | | 482,609 |
|
| | | BECTON DICKINSON AND CO SR UNSECURED 12/24 3.734 | | 128,697 |
|
| | | BOSTON PROPERTIES LP SR UNSECURED 05/21 4.125 | | 638,654 |
|
| | | BOSTON PROPERTIES LP SR UNSECURED 09/23 3.125 | | 341,752 |
|
| | | BOSTON SCIENTIFIC CORP SR UNSECURED 01/20 6 | | 591,664 |
|
| | | BURLINGTN NORTH SANTA FE SR UNSECURED 06/21 4.1 | | 976,157 |
|
| | | CIGNA CORP SR UNSECURED 05/19 8.5 | | 221,272 |
|
| | | CIGNA CORP SR UNSECURED 06/20 5.125 | | 585,070 |
|
| | | CIGNA CORP SR UNSECURED 03/41 5.875 | | 186,750 |
|
| | | CALIFORNIA ST CAS 10/39 FIXED 7.3 | | 257,773 |
|
| | | CALIFORNIA ST CAS 03/40 FIXED 7.625 | | 1,481,275 |
|
| | | CAPITAL ONE FINANCIAL CO SR UNSECURED 07/21 4.75 | | 964,371 |
|
| | | CHASE ISSUANCE TRUST CHAIT 2012 A5 A5 | | 535,169 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Dodge & Cox | | CHASE ISSUANCE TRUST CHAIT 2012 A8 A8 | | $ | 1,126,443 |
|
| | | CHASE ISSUANCE TRUST CHAIT 2014 A6 A6 | | 1,245,861 |
|
| | | CHASE ISSUANCE TRUST CHAIT 2014 A7 A | | 474,954 |
|
| | | CITIGROUP INC SR UNSECURED 11/17 6.125 | | 250,894 |
|
| | | CITIGROUP CAPITAL XIII PREFERRED STOCK 10/40 VAR | | 972,828 |
|
| | | COMCAST CORP COMPANY GUAR 02/18 5.875 | | 281,281 |
|
| | | CONOCOPHILLIPS COMPANY GUAR 11/24 3.35 | | 985,088 |
|
| | | COX COMMUNICATIONS INC SR UNSECURED 08/28 6.8 | | 673,375 |
|
| | | DOMINION RESOURCES INC JR SUBORDINA 10/54 VAR | | 495,622 |
|
| | | DOW CHEMICAL CO/THE SR UNSECURED 11/29 7.375 | | 366,085 |
|
| | | DOW CHEMICAL CO/THE SR UNSECURED 05/19 8.55 | | 561,947 |
|
| | | DOW CHEMICAL CO/THE SR UNSECURED 05/39 9.4 | | 405,633 |
|
| | | DOW CHEMICAL CO/THE SR UNSECURED 11/20 4.25 | | 106,913 |
|
| | | ERP OPERATING LP SR UNSECURED 12/21 4.625 | | 164,101 |
|
| | | ERP OPERATING LP SR UNSECURED 04/23 3 | | 316,970 |
|
| | | FED HM LN PC POOL G30689 FG 07/32 FIXED 4.5 | | 4,677,285 |
|
| | | FED HM LN PC POOL G01976 FG 12/33 FIXED 6 | | 183,352 |
|
| | | FED HM LN PC POOL G07338 FG 10/38 FIXED 6 | | 169,583 |
|
| | | FED HM LN PC POOL G07480 FG 05/39 FIXED 6 | | 859,136 |
|
| | | FED HM LN PC POOL G07598 FG 11/43 FIXED 4.5 | | 197,505 |
|
| | | FED HM LN PC POOL G07857 FG 04/40 FIXED 4.5 | | 3,192,643 |
|
| | | FED HM LN PC POOL G12511 FG 02/22 FIXED 6 | | 931,068 |
|
| | | FED HM LN PC POOL G13824 FG 12/24 FIXED 5.5 | | 786,473 |
|
| | | FED HM LN PC POOL G14585 FG 10/26 FIXED 4 | | 924,624 |
|
| | | FED HM LN PC POOL G14678 FG 12/26 FIXED 4 | | 259,082 |
|
| | | FED HM LN PC POOL 1G2201 FH 09/37 FLOATING VAR | | 104,513 |
|
| | | FED HM LN PC POOL 849254 FH 01/42 FLOATING VAR | | 414,379 |
|
| | | FED HM LN PC POOL 849330 FH 05/44 FLOATING VAR | | 888,793 |
|
| | | FED HM LN PC POOL 849505 FH 10/44 FLOATING VAR | | 4,808,428 |
|
| | | FED HM LN PC POOL Q02552 FG 08/41 FIXED 4.5 | | 213,260 |
|
| | | FED HM LN PC POOL Q03086 FG 09/41 FIXED 4.5 | | 448,967 |
|
| | | FED HM LN PC POOL V80953 FG 01/44 FIXED 4.5 | | 386,412 |
|
| | | FEDEX CORP 1998 PASS TST PASS THRU CE 07/23 6.72 | | 425,577 |
|
| | | FANNIE MAE FNR 2013 106 MA | | 228,849 |
|
| | | FANNIEMAE ACES FNA 2014 M13 ASQ2 | | 241,601 |
|
| | | FREDDIE MAC FHR 4283 EW | | 1,211,106 |
|
| | | FNMA POOL AL0376 FN 08/38 FLOATING VAR | | 240,118 |
|
| | | FNMA POOL AL1845 FN 06/39 FLOATING VAR | | 209,006 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Dodge & Cox | | FNMA POOL AL3997 FN 09/41 FLOATING VAR | | $ | 388,384 |
|
| | | FNMA POOL AL6209 FN 07/21 FIXED VAR | | 252,368 |
|
| | | FNMA POOL AL5957 | | 846,885 |
|
| | | FNMA POOL AS0923 FN 11/43 FIXED 4.5 | | 298,236 |
|
| | | FNMA POOL AW4688 FN 05/44 FLOATING VAR | | 435,961 |
|
| | | FANNIE MAE FNR 2005 87 FB | | 628,258 |
|
| | | FREDDIE MAC FHR 2957 VZ | | 622,175 |
|
| | | FANNIE MAE FNR 2009 66 ET | | 231,222 |
|
| | | FREDDIE MAC REFERENCE REMIC FHRR R008 ZA | | 260,169 |
|
| | | FANNIE MAE FNR 2007 50 DZ | | 404,868 |
|
| | | FNMA POOL 704235 FN 05/33 FIXED 5.5 | | 129,175 |
|
| | | FNMA POOL 725228 FN 03/34 FIXED VAR | | 2,954 |
|
| | | FNMA POOL 725229 FN 03/34 FIXED VAR | | 195,734 |
|
| | | FNMA POOL 735503 FN 04/35 FIXED VAR | | 4,461 |
|
| | | FNMA POOL 888368 FN 03/37 FIXED VAR | | 906,475 |
|
| | | FNMA POOL 888560 FN 11/35 FIXED VAR | | 189,445 |
|
| | | FNMA POOL 889072 FN 12/37 FIXED VAR | | 740,960 |
|
| | | FNMA POOL 889984 FN 10/38 FIXED VAR | | 681,857 |
|
| | | FNMA POOL 965097 FN 09/38 FLOATING VAR | | 319,668 |
|
| | | FNMA POOL 976853 FN 11/29 FIXED 5.5 | | 360,844 |
|
| | | FNMA POOL 995006 FN 10/38 FLOATING VAR | | 119,063 |
|
| | | FNMA POOL 995051 FN 03/37 FIXED VAR | | 166,857 |
|
| | | FNMA POOL AB1763 FN 11/30 FIXED 4 | | 121,494 |
|
| | | FNMA POOL AB3301 FN 07/26 FIXED 4 | | 144,634 |
|
| | | FNMA POOL MA0792 FN 07/31 FIXED 4.5 | | 1,080,833 |
|
| | | FNMA POOL AD0198 FN 09/38 FIXED VAR | | 171,677 |
|
| | | FNMA POOL AD0244 FN 10/24 FIXED VAR | | 1,079,537 |
|
| | | FNMA POOL AE0952 FN 05/38 FIXED VAR | | 643,784 |
|
| | | FORD MOTOR CREDIT CO LLC SR UNSECURED 09/15 5.625 | | 257,961 |
|
| | | FORD MOTOR CREDIT CO LLC SR UNSECURED 08/21 5.875 | | 723,617 |
|
| | | GENERAL ELEC CAP CORP COMPANY GUAR 01/20 5.5 | | 629,517 |
|
| | | GENERAL ELEC CAP CORP COMPANY GUAR 09/20 4.375 | | 438,094 |
|
| | | GENERAL ELEC CAP CORP COMPANY GUAR 01/21 4.625 | | 139,324 |
|
| | | HCA INC COMPANY GUAR 02/16 6.5 | | 678,437 |
|
| | | HSBC HOLDINGS PLC SUBORDINATED 09/37 6.5 | | 1,060,031 |
|
| | | HSBC HOLDINGS PLC SR UNSECURED 04/21 5.1 | | 197,820 |
|
| | | HEALTH NET INC SR UNSECURED 06/17 6.375 | | 297,000 |
|
| | | HEWLETT PACKARD CO SR UNSECURED 03/18 5.5 | | 165,556 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Dodge & Cox | | HEWLETT PACKARD CO SR UNSECURED 12/16 3.3 | | $ | 258,181 |
|
| | | ILLINOIS ST ILS 03/16 FIXED 4.961 | | 286,476 |
|
| | | ILLINOIS ST ILS 03/17 FIXED 5.365 | | 454,984 |
|
| | | ILLINOIS ST ILS 03/18 FIXED 5.665 | | 383,260 |
|
| | | KINDER MORGAN INC/DELAWA COMPANY GUAR 06/25 4.3 | | 175,082 |
|
| | | LAFARGE SA SR UNSECURED 07/16 6.5 | | 772,125 |
|
| | | LLOYDS BANKING GROUP PLC SUBORDINATED 11/24 4.5 | | 252,285 |
|
| | | MACYS RETAIL HLDGS INC COMPANY GUAR 12/34 4.5 | | 100,695 |
|
| | | MACYS RETAIL HLDGS INC COMPANY GUAR 07/24 6.65 | | 1,316,976 |
|
| | | NEW JERSEY ST TURNPIKE AUTH NJSTRN 01/41 FIXED 7.102 | | 471,357 |
|
| | | 21ST CENTURY FOX AMERICA COMPANY GUAR 03/37 6.15 | | 187,996 |
|
| | | 21ST CENTURY FOX AMERICA COMPANY GUAR 11/37 6.65 | | 300,433 |
|
| | | NOKIA OYJ SR UNSECURED 05/19 5.375 | | 347,750 |
|
| | | NORDSTROM INC SR UNSECURED 01/18 6.25 | | 281,958 |
|
| | | PETROLEOS MEXICANOS COMPANY GUAR 06/35 6.625 | | 490,875 |
|
| | | PETROBRAS GLOBAL FINANCE COMPANY GUAR 01/21 5.375 | | 347,464 |
|
| | | PETROBRAS GLOBAL FINANCE COMPANY GUAR 05/23 4.375 | | 86,008 |
|
| | | PETROBRAS GLOBAL FINANCE COMPANY GUAR 03/24 6.25 | | 708,897 |
|
| | | PETROLEOS MEXICANOS COMPANY GUAR 01/24 4.875 | | 467,550 |
|
| | | REED ELSEVIER CAPITAL COMPANY GUAR 01/19 8.625 | | 122,313 |
|
| | | ROYAL BK SCOTLND GRP PLC SUBORDINATED 12/23 6 | | 568,259 |
|
| | | ROYAL BK SCOTLND GRP PLC SUBORDINATED 12/22 6.125 | | 653,044 |
|
| | | NAVIENT CORP SR UNSECURED 06/18 8.45 | | 423,700 |
|
| | | NAVIENT CORP SR UNSECURED 01/16 6.25 | | 130,000 |
|
| | | NAVIENT CORP SR UNSECURED 01/17 6 | | 366,625 |
|
| | | NAVIENT CORP SR UNSECURED 09/17 4.625 | | 50,750 |
|
| | | SPRINT COMMUNICATIONS SR UNSECURED 12/16 6 | | 706,067 |
|
| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 1,311,152 |
|
| | | TELECOM ITALIA CAPITAL COMPANY GUAR 06/19 7.175 | | 727,075 |
|
| | | TELECOM ITALIA CAPITAL COMPANY GUAR 07/36 7.2 | | 241,875 |
|
| | | TELECOM ITALIA CAPITAL COMPANY GUAR 06/18 6.999 | | 333,000 |
|
| | | TELECOM ITALIA CAPITAL COMPANY GUAR 06/38 7.721 | | 139,375 |
|
| | | TIME WARNER CABLE INC COMPANY GUAR 04/19 8.25 | | 1,438,368 |
|
| | | UNION PACIFIC CORP SR UNSECURED 07/22 4.163 | | 329,572 |
|
| | | UNION PACIFIC RR CO 07 3 PASS THRU CE 01/31 6.176 | | 613,095 |
|
| | | US TREASURY N/B 03/17 0.75 | | 1,499,413 |
|
| | | US TREASURY N/B 03/19 1.625 | | 2,762,246 |
|
| | | US TREASURY N/B 10/17 0.875 | | 8,621,869 |
|
| | | US TREASURY N/B 11/24 2.25 | | 503,359 |
|
| | | US TREASURY N/B 02/17 0.875 | | 1,253,027 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Dodge & Cox | | US TREASURY N/B 09/15 0.25 | | $ | 1,400,766 |
|
| | | US TREASURY N/B 10/16 0.625 | | 375,117 |
|
| | | US TREASURY N/B 05/19 1.5 | | 324,187 |
|
| | | US TREASURY N/B 07/19 1.625 | | 1,978,084 |
|
| | | VERIZON COMMUNICATIONS SR UNSECURED 09/23 5.15 | | 800,569 |
|
| | | VERIZON COMMUNICATIONS SR UNSECURED 09/43 6.55 | | 96,086 |
|
| | | VERIZON COMMUNICATIONS SR UNSECURED 03/24 4.15 | | 647,022 |
|
| | | VULCAN MATERIALS CO SR UNSECURED 12/16 6.5 | | 14,910 |
|
| | | VULCAN MATERIALS CO SR UNSECURED 06/21 7.5 | | 460,175 |
|
| | | ANTHEM INC SR UNSECURED 02/19 7 | | 734,100 |
|
| | | WELLS FARGO + COMPANY SR UNSECURED 04/21 4.6 | | 333,798 |
|
| | | XEROX CORPORATION SR UNSECURED 02/17 6.75 | | 1,047,117 |
|
| | | Total Dodge & Cox | | 97,751,855 |
|
| Institutional Capital Corporation | | AMERIPRISE FINANCIAL INC COMMON STOCK USD.01 | | 4,496,500 |
|
| | | BANK OF AMERICA CORP COMMON STOCK USD.01 | | 6,684,598 |
|
| | | BOEING CO/THE COMMON STOCK USD5. | | 7,090,409 |
|
| | | BRISTOL MYERS SQUIBB CO COMMON STOCK USD.1 | | 3,119,735 |
|
| | | CAMERON INTERNATIONAL CORP COMMON STOCK USD.01 | | 2,442,555 |
|
| | | CITIGROUP INC COMMON STOCK USD.01 | | 5,251,375 |
|
| | | COMCAST CORP CLASS A COMMON STOCK USD.01 | | 8,324,439 |
|
| | | ENCANA CORP COMMON STOCK | | 1,452,882 |
|
| | | EXELON CORP COMMON STOCK NPV | | 3,659,796 |
|
| | | EXPRESS SCRIPTS HOLDING CO COMMON STOCK USD.01 | | 4,161,530 |
|
| | | FORD MOTOR CO COMMON STOCK USD.01 | | 2,853,550 |
|
| | | GENERAL ELECTRIC CO COMMON STOCK USD.06 | | 9,084,565 |
|
| | | GOLDMAN SACHS GROUP INC COMMON STOCK USD.01 | | 5,427,240 |
|
| | | HONEYWELL INTERNATIONAL INC COMMON STOCK USD1. | | 5,285,768 |
|
| | | JOHNSON CONTROLS INC COMMON STOCK USD.01388 | | 5,066,032 |
|
| | | LAS VEGAS SANDS CORP COMMON STOCK USD.001 | | 1,864,028 |
|
| | | LIBERTY MEDIA CORP C COMMON STOCK USD.01 | | 2,066,770 |
|
| | | MONSANTO CO COMMON STOCK USD.01 | | 6,033,235 |
|
| | | MOSAIC CO/THE COMMON STOCK USD.01 | | 2,291,630 |
|
| | | NETAPP INC COMMON STOCK USD.001 | | 3,212,375 |
|
| | | NORTHERN TRUST CORP COMMON STOCK USD1.667 | | 3,588,915 |
|
| | | OCCIDENTAL PETROLEUM CORP COMMON STOCK USD.2 | | 6,053,811 |
|
| | | OMNICOM GROUP COMMON STOCK USD.15 | | 3,912,235 |
|
| | | ORACLE CORP COMMON STOCK USD.01 | | 5,153,562 |
|
| | | PNC FINANCIAL SERVICES GROUP COMMON STOCK USD5. | | 4,953,789 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Institutional Capital Corporation | | PFIZER INC COMMON STOCK USD.05 | | $ | 8,458,782 |
|
| | | QUALCOMM INC COMMON STOCK USD.0001 | | 3,608,721 |
|
| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 545,709 |
|
| | | TEXAS INSTRUMENTS INC COMMON STOCK USD1. | | 3,616,907 |
|
| | | UNITEDHEALTH GROUP INC COMMON STOCK USD.01 | | 4,872,538 |
|
| | | VALEANT PHARMACEUTICALS INTE COMMON STOCK NPV | | 4,343,388 |
|
| | | VIACOM INC CLASS B COMMON STOCK USD.001 | | 5,474,437 |
|
| | | VODAFONE GROUP PLC SP ADR ADR | | 3,857,930 |
|
| | | COVIDIEN PLC COMMON STOCK USD.2 | | 5,650,970 |
|
| | | PENTAIR PLC COMMON STOCK USD.01 | | 601,101 |
|
| | | ASML HOLDING NV NY REG SHS NY REG SHRS EUR.09 | | 2,760,448 |
|
| | | Total Institutional Capital Corporation | | 157,322,255 |
|
| Westwood Group | | AMC NETWORKS INC A COMMON STOCK | | 1,460,333 |
|
| | | ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 | | 887,400 |
|
| | | APOGEE ENTERPRISES INC COMMON STOCK USD.333 | | 601,654 |
|
| | | ARRIS GROUP INC COMMON STOCK USD.01 | | 1,280,056 |
|
| | | BANKUNITED INC COMMON STOCK USD.01 | | 1,103,757 |
|
| | | B/E AEROSPACE INC COMMON STOCK USD.01 | | 667,230 |
|
| | | BEACON ROOFING SUPPLY INC COMMON STOCK USD.01 | | 633,840 |
|
| | | BOISE CASCADE CO COMMON STOCK USD.01 | | 1,062,490 |
|
| | | BONANZA CREEK ENERGY INC COMMON STOCK USD.001 | | 319,200 |
|
| | | BROADRIDGE FINANCIAL SOLUTIO COMMON STOCK USD.01 | | 1,154,500 |
|
| | | CARDTRONICS INC COMMON STOCK USD.0001 | | 1,585,638 |
|
| | | CLOUD PEAK ENERGY INC COMMON STOCK USD.01 | | 501,228 |
|
| | | COLFAX CORP COMMON STOCK USD.001 | | 470,731 |
|
| | | COMERICA INC COMMON STOCK USD5. | | 637,024 |
|
| | | CONMED CORP COMMON STOCK USD.01 | | 269,760 |
|
| | | DARLING INGREDIENTS INC COMMON STOCK USD.01 | | 110,776 |
|
| | | DEAN FOODS CO COMMON STOCK USD.01 | | 569,772 |
|
| | | DIAMONDROCK HOSPITALITY CO REIT USD.01 | | 322,679 |
|
| | | DICK S SPORTING GOODS INC COMMON STOCK USD.01 | | 913,560 |
|
| | | EAST WEST BANCORP INC COMMON STOCK USD.001 | | 627,102 |
|
| | | ENERGIZER HOLDINGS INC COMMON STOCK USD.01 | | 1,234,176 |
|
| | | EQUIFAX INC COMMON STOCK USD1.25 | | 1,302,007 |
|
| | | FLIR SYSTEMS INC COMMON STOCK USD.01 | | 636,507 |
|
| | | FIRST FINANCIAL BANCORP COMMON STOCK NPV | | 892,320 |
|
| | | HAEMONETICS CORP/MASS COMMON STOCK USD.01 | | 924,274 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Westwood Group | | JACK HENRY + ASSOCIATES INC COMMON STOCK USD.01 | | $ | 618,355 |
|
| | | HOSPIRA INC COMMON STOCK USD.01 | | 1,243,375 |
|
| | | HUBBELL INC CL B COMMON STOCK USD.01 | | 388,754 |
|
| | | IAC/INTERACTIVECORP COMMON STOCK USD.001 | | 1,355,617 |
|
| | | INLAND REAL ESTATE CORP REIT USD.01 | | 649,072 |
|
| | | INTEGRA LIFESCIENCES HOLDING COMMON STOCK USD.01 | | 710,413 |
|
| | | JOY GLOBAL INC COMMON STOCK USD1. | | 944,356 |
|
| | | J2 GLOBAL INC COMMON STOCK USD.01 | | 1,500,400 |
|
| | | KLX INC COMMON STOCK USD.01 | | 237,188 |
|
| | | LANDSTAR SYSTEM INC COMMON STOCK USD.01 | | 565,734 |
|
| | | LEAR CORP COMMON STOCK USD.01 | | 643,993 |
|
| | | LIFE TIME FITNESS INC COMMON STOCK USD.02 | | 628,595 |
|
| | | LITHIA MOTORS INC CL A COMMON STOCK NPV | | 762,872 |
|
| | | MANPOWERGROUP INC COMMON STOCK USD.01 | | 613,530 |
|
| | | MEADWESTVACO CORP COMMON STOCK USD.01 | | 643,655 |
|
| | | MEDNAX INC COMMON STOCK USD.01 | | 1,176,758 |
|
| | | MEREDITH CORP COMMON STOCK USD1. | | 765,912 |
|
| | | HERMAN MILLER INC COMMON STOCK USD.2 | | 562,113 |
|
| | | OASIS PETROLEUM INC COMMON STOCK USD.01 | | 398,614 |
|
| | | ON SEMICONDUCTOR CORP COMMON STOCK USD.01 | | 1,129,495 |
|
| | | PDC ENERGY INC COMMON STOCK USD.01 | | 623,177 |
|
| | | PERKINELMER INC COMMON STOCK USD1. | | 647,204 |
|
| | | POTLATCH CORP REIT USD1. | | 921,266 |
|
| | | PREMIER INC CLASS A COMMON STOCK USD.01 | | 945,546 |
|
| | | PRIMORIS SERVICES CORP COMMON STOCK USD.0001 | | 532,196 |
|
| | | PRIVATEBANCORP INC COMMON STOCK NPV | | 1,319,600 |
|
| | | QUESTAR CORP COMMON STOCK NPV | | 1,208,384 |
|
| | | RSP PERMIAN INC COMMON STOCK USD.01 | | 744,144 |
|
| | | RENT A CENTER INC COMMON STOCK USD.01 | | 984,272 |
|
| | | REX ENERGY CORP COMMON STOCK USD.001 | | 319,770 |
|
| | | ROCK TENN COMPANY CL A COMMON STOCK USD.01 | | 707,368 |
|
| | | ROCKWOOD HOLDINGS INC COMMON STOCK USD.01 | | 614,640 |
|
| | | RUSH ENTERPRISES INC CL A COMMON STOCK USD.01 | | 314,090 |
|
| | | SVB FINANCIAL GROUP COMMON STOCK USD.001 | | 1,288,377 |
|
| | | STAG INDUSTRIAL INC REIT USD.01 | | 606,008 |
|
| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 335,503 |
|
| | | TELEFLEX INC COMMON STOCK USD1. | | 1,240,056 |
|
| | | TIMKEN CO COMMON STOCK NPV | | 584,716 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Westwood Group | | TREX COMPANY INC COMMON STOCK USD.01 | | $ | 698,312 |
|
| | | TRIMBLE NAVIGATION LTD COMMON STOCK NPV | | 971,364 |
|
| | | TRUEBLUE INC COMMON STOCK NPV | | 649,700 |
|
| | | VISHAY INTERTECHNOLOGY INC COMMON STOCK USD.1 | | 601,375 |
|
| | | WATTS WATER TECHNOLOGIES A COMMON STOCK USD.1 | | 1,256,112 |
|
| | | WINTRUST FINANCIAL CORP COMMON STOCK NPV | | 1,229,788 |
|
| | | WOODWARD INC COMMON STOCK USD.00292 | | 1,230,750 |
|
| | | AMDOCS LTD COMMON STOCK GBP.0001 | | 1,492,960 |
|
| | | AVG TECHNOLOGIES COMMON STOCK EUR.01 | | 1,391,670 |
|
| | | Total Westwood Group | | 59,165,163 |
|
| Delaware Investments | | ABIOMED INC COMMON STOCK USD.01 | | 1,889,679 |
|
| | | AFFILIATED MANAGERS GROUP COMMON STOCK USD.01 | | 2,865,240 |
|
| | | ATHENAHEALTH INC COMMON STOCK USD.01 | | 1,376,865 |
|
| | | BIO TECHNE CORP COMMON STOCK USD.01 | | 3,116,190 |
|
| | | BLACKBAUD INC COMMON STOCK USD.001 | | 2,420,397 |
|
| | | COUPONS.COM INC COMMON STOCK USD.00001 | | 862,330 |
|
| | | DINEEQUITY INC COMMON STOCK USD.01 | | 3,756,953 |
|
| | | DUNKIN BRANDS GROUP INC COMMON STOCK USD.001 | | 1,470,145 |
|
| | | ELLIE MAE INC COMMON STOCK USD.0001 | | 1,064,448 |
|
| | | EQUITY COMMONWEALTH REIT USD.01 | | 2,683,798 |
|
| | | EXPEDITORS INTL WASH INC COMMON STOCK USD.01 | | 2,411,170 |
|
| | | GRACO INC COMMON STOCK USD1. | | 3,237,267 |
|
| | | HEARTLAND PAYMENT SYSTEMS IN COMMON STOCK USD.001 | | 3,722,550 |
|
| | | J2 GLOBAL INC COMMON STOCK USD.01 | | 3,660,170 |
|
| | | MSCI INC COMMON STOCK USD.01 | | 3,441,772 |
|
| | | NIC INC COMMON STOCK NPV | | 1,484,643 |
|
| | | OUTFRONT MEDIA INC REIT USD.01 | | 1,062,864 |
|
| | | RITCHIE BROS AUCTIONEERS COMMON STOCK NPV | | 2,057,757 |
|
| | | SALLY BEAUTY HOLDINGS INC COMMON STOCK USD.01 | | 3,291,485 |
|
| | | SHUTTERSTOCK INC COMMON STOCK USD.01 | | 1,703,315 |
|
| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 756,782 |
|
| | | ULTA SALON COSMETICS + FRAGR COMMON STOCK USD.01 | | 2,504,513 |
|
| | | VERIFONE SYSTEMS INC COMMON STOCK USD.01 | | 2,661,362 |
|
| | | ZEBRA TECHNOLOGIES CORP CL A COMMON STOCK USD.01 | | 2,838,083 |
|
| | | LOGITECH INTERNATIONAL REG COMMON STOCK CHF.25 | | 2,085,119 |
|
| | | CORE LABORATORIES N.V. COMMON STOCK EUR.02 | | 2,386,824 |
|
| | | Total Delaware Investments | | 60,811,721 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Next Century | | ABIOMED INC COMMON STOCK USD.01 | | $ | 636,934 |
|
| | | ACADIA HEALTHCARE CO INC COMMON STOCK USD.01 | | 590,187 |
|
| | | ADVISORY BOARD CO/THE COMMON STOCK USD.01 | | 475,106 |
|
| | | AKORN INC COMMON STOCK NPV | | 1,792,443 |
|
| | | ALIGN TECHNOLOGY INC COMMON STOCK USD.0001 | | 589,403 |
|
| | | BENEFITFOCUS INC COMMON STOCK USD.001 | | 954,790 |
|
| | | BUFFALO WILD WINGS INC COMMON STOCK NPV | | 780,144 |
|
| | | CANADIAN SOLAR INC COMMON STOCK NPV | | 813,921 |
|
| | | CENTENE CORP COMMON STOCK USD.001 | | 2,831,055 |
|
| | | CEPHEID INC COMMON STOCK NPV | | 1,335,580 |
|
| | | COGNEX CORP COMMON STOCK USD.002 | | 695,667 |
|
| | | COSTAR GROUP INC COMMON STOCK USD.01 | | 929,351 |
|
| | | DR HORTON INC COMMON STOCK USD.01 | | 681,894 |
|
| | | DEALERTRACK TECHNOLOGIES INC COMMON STOCK USD.01 | | 1,088,209 |
|
| | | DIAMONDBACK ENERGY INC COMMON STOCK USD.01 | | 487,745 |
|
| | | EAGLE MATERIALS INC COMMON STOCK USD.01 | | 1,050,507 |
|
| | | ELLIE MAE INC COMMON STOCK USD.0001 | | 165,997 |
|
| | | FIESTA RESTAURANT GROUP COMMON STOCK USD.01 | | 1,671,818 |
|
| | | GOGO INC COMMON STOCK USD.0001 | | 444,426 |
|
| | | GRANITE CONSTRUCTION INC COMMON STOCK USD.01 | | 1,029,734 |
|
| | | GREENBRIER COMPANIES INC COMMON STOCK NPV | | 647,661 |
|
| | | GUIDEWIRE SOFTWARE INC COMMON STOCK USD.0001 | | 1,104,240 |
|
| | | HEALTH NET INC COMMON STOCK USD.001 | | 941,807 |
|
| | | HEICO CORP COMMON STOCK USD.01 | | 688,379 |
|
| | | HOMEAWAY INC COMMON STOCK USD.0001 | | 1,119,758 |
|
| | | HUNT (JB) TRANSPRT SVCS INC COMMON STOCK USD.01 | | 1,199,130 |
|
| | | IPG PHOTONICS CORP COMMON STOCK USD.0001 | | 1,211,456 |
|
| | | INSULET CORP COMMON STOCK USD.001 | | 1,401,283 |
|
| | | KANSAS CITY SOUTHERN COMMON STOCK USD.01 | | 1,344,771 |
|
| | | KATE SPADE + CO COMMON STOCK USD1.0 | | 865,614 |
|
| | | KNIGHT TRANSPORTATION INC COMMON STOCK USD.01 | | 1,420,553 |
|
| | | LIFELOCK INC COMMON STOCK USD.001 | | 1,568,019 |
|
| | | MARKETAXESS HOLDINGS INC COMMON STOCK USD.003 | | 768,158 |
|
| | | MEDIVATION INC COMMON STOCK USD.01 | | 1,370,833 |
|
| | | NCI BUILDING SYSTEMS INC COMMON STOCK USD.01 | | 1,449,190 |
|
| | | NETSUITE INC COMMON STOCK USD.01 | | 897,923 |
|
| | | NXSTAGE MEDICAL INC COMMON STOCK USD.001 | | 609,907 |
|
| | | PRA GROUP INC COMMON STOCK USD.01 | | 1,149,099 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Next Century | | PACIRA PHARMACEUTICALS INC COMMON STOCK | | $ | 1,331,673 |
|
| | | PALO ALTO NETWORKS INC COMMON STOCK USD.0001 | | 1,181,452 |
|
| | | SALIX PHARMACEUTICALS LTD COMMON STOCK USD.001 | | 1,845,477 |
|
| | | SERVICENOW INC COMMON STOCK USD.001 | | 1,190,428 |
|
| | | SHUTTERFLY INC COMMON STOCK USD.0001 | | 616,252 |
|
| | | SHUTTERSTOCK INC COMMON STOCK USD.01 | | 1,373,846 |
|
| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 1,224,729 |
|
| | | TABLEAU SOFTWARE INC CL A COMMON STOCK USD.0001 | | 719,019 |
|
| | | TEAM HEALTH HOLDINGS INC COMMON STOCK USD.01 | | 1,563,608 |
|
| | | ULTA SALON COSMETICS + FRAGR COMMON STOCK USD.01 | | 915,207 |
|
| | | ULTIMATE SOFTWARE GROUP INC COMMON STOCK USD.01 | | 1,396,945 |
|
| | | UNDER ARMOUR INC CLASS A COMMON STOCK USD.000333 | | 1,684,735 |
|
| | | VEEVA SYSTEMS INC CLASS A COMMON STOCK USD.00001 | | 815,462 |
|
| | | VIRTUSA CORP COMMON STOCK USD.01 | | 582,713 |
|
| | | VIVINT SOLAR INC COMMON STOCK USD.01 | | 377,246 |
|
| | | WABCO HOLDINGS INC COMMON STOCK USD.01 | | 549,885 |
|
| | | YELP INC COMMON STOCK USD.000001 | | 1,246,038 |
|
| | | ZOE S KITCHEN INC COMMON STOCK USD.01 | | 1,145,553 |
|
| | | ESSENT GROUP LTD COMMON STOCK USD.015 | | 760,090 |
|
| | | Total Next Century | | 59,323,050 |
|
| AJO Partners | | ABERCROMBIE + FITCH CO CL A COMMON STOCK USD.01 | | 312,176 |
|
| | | ALASKA AIR GROUP INC COMMON STOCK USD.01 | | 812,736 |
|
| | | ARGAN INC COMMON STOCK USD.15 | | 454,140 |
|
| | | ASBURY AUTOMOTIVE GROUP COMMON STOCK USD.01 | | 141,970 |
|
| | | ASSURANT INC COMMON STOCK USD.01 | | 874,535 |
|
| | | AVIS BUDGET GROUP INC COMMON STOCK USD.01 | | 543,906 |
|
| | | BENCHMARK ELECTRONICS INC COMMON STOCK USD.1 | | 180,624 |
|
| | | WR BERKLEY CORP COMMON STOCK USD.2 | | 840,664 |
|
| | | BERKSHIRE HILLS BANCORP INC COMMON STOCK USD.01 | | 251,670 |
|
| | | BLOUNT INTERNATIONAL INC COMMON STOCK USD.01 | | 614,950 |
|
| | | BOISE CASCADE CO COMMON STOCK USD.01 | | 586,970 |
|
| | | C+J ENERGY SERVICES INC COMMON STOCK USD.01 | | 130,779 |
|
| | | CBL + ASSOCIATES PROPERTIES REIT USD.01 | | 407,820 |
|
| | | CBOE HOLDINGS INC COMMON STOCK | | 684,936 |
|
| | | CMS ENERGY CORP COMMON STOCK USD.01 | | 945,200 |
|
| | | CVR ENERGY INC COMMON STOCK USD.01 | | 495,488 |
|
| | | CABLEVISION SYSTEMS NY GRP A COMMON STOCK USD.01 | | 489,168 |
|
|
| |
Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
|
| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| AJO Partners | | CAL MAINE FOODS INC COMMON STOCK USD.01 | | $ | 452,748 |
|
| | | CENTURY ALUMINUM COMPANY COMMON STOCK USD.01 | | 226,920 |
|
| | | CLEARWATER PAPER CORP COMMON STOCK USD.0001 | | 472,995 |
|
| | | COOPER TIRE + RUBBER COMMON STOCK USD1. | | 897,435 |
|
| | | CORE MARK HOLDING CO INC COMMON STOCK USD.01 | | 334,422 |
|
| | | CORESITE REALTY CORP REIT USD.01 | | 222,585 |
|
| | | DHI GROUP INC COMMON STOCK USD.01 | | 250,250 |
|
| | | DOMINION DIAMOND CORP COMMON STOCK NPV | | 195,764 |
|
| | | DUCOMMUN INC COMMON STOCK USD.01 | | 93,536 |
|
| | | DUPONT FABROS TECHNOLOGY REIT USD.001 | | 724,632 |
|
| | | EAST WEST BANCORP INC COMMON STOCK USD.001 | | 890,330 |
|
| | | EL PASO ELECTRIC CO COMMON STOCK NPV | | 216,324 |
|
| | | EMCOR GROUP INC COMMON STOCK USD.01 | | 840,861 |
|
| | | ENGILITY HOLDINGS INC COMMON STOCK USD.01 | | 376,640 |
|
| | | EXELIS INC COMMON STOCK USD.01 | | 850,205 |
|
| | | FAIRPOINT COMMUNICATIONS INC COMMON STOCK USD.01 | | 244,412 |
|
| | | FIRSTSERVICE CORP COMMON STOCK NPV | | 630,664 |
|
| | | FOOT LOCKER INC COMMON STOCK USD.01 | | 938,206 |
|
| | | GENERAL COMMUNICATION INC A COMMON STOCK NPV | | 40,425 |
|
| | | GLOBAL CASH ACCESS HOLDINGS COMMON STOCK USD.001 | | 341,055 |
|
| | | GREAT LAKES DREDGE + DOCK CO COMMON STOCK USD.0001 | | 510,176 |
|
| | | GREAT PLAINS ENERGY INC COMMON STOCK NPV | | 539,790 |
|
| | | GREEN PLAINS INC COMMON STOCK USD.001 | | 280,014 |
|
| | | HCI GROUP INC COMMON STOCK NPV | | 748,052 |
|
| | | HAWAIIAN HOLDINGS INC COMMON STOCK USD.01 | | 758,055 |
|
| | | HEALTH NET INC COMMON STOCK USD.001 | | 642,360 |
|
| | | HERSHA HOSPITALITY TRUST REIT USD.01 | | 707,921 |
|
| | | HOSPITALITY PROPERTIES TRUST REIT USD.01 | | 892,800 |
|
| | | HUNTINGTON BANCSHARES INC COMMON STOCK USD.01 | | 377,668 |
|
| | | HUNTINGTON INGALLS INDUSTRIE COMMON STOCK USD.01 | | 754,607 |
|
| | | HUNTSMAN CORP COMMON STOCK USD.01 | | 184,518 |
|
| | | INSIGHT ENTERPRISES INC COMMON STOCK USD.01 | | 243,366 |
|
| | | INTELIQUENT INC COMMON STOCK USD.001 | | 112,873 |
|
| | | JABIL CIRCUIT INC COMMON STOCK USD.001 | | 384,208 |
|
| | | JETBLUE AIRWAYS CORP COMMON STOCK USD.01 | | 139,568 |
|
| | | JONES LANG LASALLE INC COMMON STOCK USD.01 | | 839,608 |
|
| | | LAKELAND FINANCIAL CORP COMMON STOCK NPV | | 508,599 |
|
| | | LEAR CORP COMMON STOCK USD.01 | | 755,216 |
|
|
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Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
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| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
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(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| AJO Partners | | LEXMARK INTERNATIONAL INC A COMMON STOCK USD.01 | | $ | 709,844 |
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| | | MBIA INC COMMON STOCK USD1. | | 284,292 |
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| | | MEDIFAST INC COMMON STOCK USD.001 | | 110,715 |
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| | | MERITOR INC COMMON STOCK USD1. | | 792,345 |
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| | | MYRIAD GENETICS INC COMMON STOCK USD.01 | | 326,976 |
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| | | NVR INC COMMON STOCK USD.01 | | 357,092 |
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| | | NAUTILUS INC COMMON STOCK NPV | | 119,922 |
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| | | NET 1 UEPS TECHNOLOGIES INC COMMON STOCK USD.001 | | 717,060 |
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| | | NORTEK INC COMMON STOCK USD.01 | | 170,793 |
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| | | OIL STATES INTERNATIONAL INC COMMON STOCK USD.01 | | 356,970 |
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| | | OMNICARE INC COMMON STOCK USD1. | | 940,797 |
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| | | OUTERWALL INC W/I COMMON STOCK USD.001 | | 707,068 |
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| | | PDL BIOPHARMA INC COMMON STOCK USD.01 | | 624,510 |
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| | | PNM RESOURCES INC COMMON STOCK NPV | | 355,560 |
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| | | PARKER DRILLING CO COMMON STOCK USD.167 | | 215,821 |
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| | | PATTERSON UTI ENERGY INC COMMON STOCK USD.01 | | 290,325 |
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| | | PHARMERICA CORP COMMON STOCK USD.01 | | 86,982 |
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| | | POLYCOM INC COMMON STOCK USD.0005 | | 452,250 |
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| | | PORTLAND GENERAL ELECTRIC CO COMMON STOCK NPV | | 820,911 |
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| | | PROGRESS SOFTWARE CORP COMMON STOCK USD.01 | | 670,096 |
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| | | PROVIDENCE SERVICE CORP COMMON STOCK USD.001 | | 196,776 |
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| | | QLOGIC CORP COMMON STOCK USD.001 | | 126,540 |
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| | | RLJ LODGING TRUST REIT | | 821,485 |
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| | | RADIAN GROUP INC COMMON STOCK USD.001 | | 792,528 |
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| | | REINSURANCE GROUP OF AMERICA COMMON STOCK USD.01 | | 884,962 |
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| | | RESOLUTE FOREST PRODUCTS COMMON STOCK USD.001 | | 785,406 |
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| | | RYMAN HOSPITALITY PROPERTIES REIT USD.01 | | 775,278 |
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| | | SM ENERGY CO COMMON STOCK USD.01 | | 258,486 |
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| | | SANDERSON FARMS INC COMMON STOCK USD1. | | 689,005 |
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| | | SCHOLASTIC CORP COMMON STOCK USD.01 | | 732,042 |
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| | | SELECT COMFORT CORPORATION COMMON STOCK USD.01 | | 175,695 |
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| | | SPIRIT AEROSYSTEMS HOLD CL A COMMON STOCK USD.01 | | 245,328 |
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| | | STATE BANK FINANCIAL CORP COMMON STOCK USD.01 | | 607,392 |
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| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 915,513 |
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| | | SUMMIT HOTEL PROPERTIES INC REIT | | 804,868 |
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| | | SUNSTONE HOTEL INVESTORS INC REIT USD.01 | | 622,427 |
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| | | SUPERIOR ENERGY SERVICES INC COMMON STOCK USD.001 | | 145,080 |
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| | | TAKE TWO INTERACTIVE SOFTWRE COMMON STOCK USD.01 | | 703,553 |
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Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
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| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
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(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| AJO Partners | | TARGA RESOURCES CORP COMMON STOCK USD.001 | | $ | 233,310 |
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| | | THOMPSON CREEK METALS CO INC COMMON STOCK NPV | | 237,541 |
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| | | TOWER INTERNATIONAL INC COMMON STOCK USD.01 | | 620,865 |
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| | | TRINITY INDUSTRIES INC COMMON STOCK USD1. | | 364,130 |
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| | | UGI CORP COMMON STOCK NPV | | 881,136 |
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| | | UNITED INSURANCE HOLDINGS CO COMMON STOCK USD.0001 | | 162,430 |
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| | | UNITED ONLINE INC WHEN ISSUE COMMON STOCK USD.0001 | | 202,245 |
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| | | UNITED STATES STEEL CORP COMMON STOCK USD1. | | 705,936 |
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| | | UNITED THERAPEUTICS CORP COMMON STOCK USD.01 | | 349,623 |
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| | | VECTREN CORP COMMON STOCK NPV | | 915,354 |
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| | | WALKER + DUNLOP INC COMMON STOCK | | 129,796 |
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| | | WORLD ACCEPTANCE CORP COMMON STOCK NPV | | 826,280 |
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| | | ASPEN INSURANCE HOLDINGS LTD COMMON STOCK USD.001514456 | | 862,269 |
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| | | AXIS CAPITAL HOLDINGS LTD COMMON STOCK USD.0125 | | 955,383 |
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| | | EVEREST RE GROUP LTD COMMON STOCK USD.01 | | 909,402 |
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| | | MAIDEN HOLDINGS LTD COMMON STOCK USD.01 | | 131,737 |
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| | | NABORS INDUSTRIES LTD COMMON STOCK USD.001 | | 206,382 |
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| | | PARTNERRE LTD COMMON STOCK USD1. | | 846,845 |
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| | | RENAISSANCERE HOLDINGS LTD COMMON STOCK USD1. | | 797,204 |
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| | | VALIDUS HOLDINGS LTD COMMON STOCK USD.175 | | 843,668 |
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| | | ALTISOURCE PORTFOLIO SOL COMMON STOCK USD1. | | 74,338 |
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| | | AVG TECHNOLOGIES COMMON STOCK EUR.01 | | 367,164 |
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| | | ORTHOFIX INTERNATIONAL NV COMMON STOCK USD.1 | | 613,224 |
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| | | FLEXTRONICS INTL LTD COMMON STOCK NPV | | 222,482 |
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| | | Total AJO Partners | | 59,238,977 |
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| Loomis Sayles | | ALIBABA GROUP HOLDING SP ADR ADR USD.000025 | | 3,450,288 |
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| | | ALTERA CORP COMMON STOCK USD.001 | | 365,189 |
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| | | AMAZON.COM INC COMMON STOCK USD.01 | | 6,689,284 |
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| | | AMERICAN EXPRESS CO COMMON STOCK USD.2 | | 2,692,950 |
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| | | AMGEN INC COMMON STOCK USD.0001 | | 4,371,714 |
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| | | ANALOG DEVICES INC COMMON STOCK USD.167 | | 656,413 |
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| | | ARM HOLDINGS PLC SPONS ADR ADR NPV | | 3,532,227 |
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| | | AUTODESK INC COMMON STOCK USD.01 | | 4,638,494 |
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| | | AUTOMATIC DATA PROCESSING COMMON STOCK USD.1 | | 1,428,545 |
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| | | CISCO SYSTEMS INC COMMON STOCK USD.001 | | 8,189,431 |
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| | | COCA COLA CO/THE COMMON STOCK USD.25 | | 5,046,936 |
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| | | DANONE SPONS ADR ADR | | 4,789,254 |
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| | | EXPEDITORS INTL WASH INC COMMON STOCK USD.01 | | 4,729,820 |
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Appendix of Schedule H - Schedule of Assets (Held at End of Year) December 31, 2014 | Edison 401(k) Savings Plan |
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| | | | | | | |
| | | EIN: 95-1240335 | |
| | | Plan Number: 002 | |
| | | | | |
(a) | (b) | | (c) | | (e) |
| Identity of Issuer, Borrower, Lessor, or Similar Party | | Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value | | Current Value |
| Loomis Sayles | | FACEBOOK INC A COMMON STOCK USD.000006 | | $ | 8,236,337 |
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| | | FACTSET RESEARCH SYSTEMS INC COMMON STOCK USD.01 | | 3,496,652 |
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| | | GOOGLE INC CL A COMMON STOCK USD.001 | | 3,466,802 |
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| | | GOOGLE INC CL C COMMON STOCK USD.001 | | 3,550,568 |
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| | | GREENHILL + CO INC COMMON STOCK USD.01 | | 1,011,171 |
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| | | LOWE S COS INC COMMON STOCK USD.5 | | 5,016,896 |
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| | | MERCK + CO. INC. COMMON STOCK USD.5 | | 2,355,649 |
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| | | MICROSOFT CORP COMMON STOCK USD.00000625 | | 3,720,413 |
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| | | MONSTER BEVERAGE CORP COMMON STOCK USD.005 | | 6,191,336 |
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| | | NOVARTIS AG SPONSORED ADR ADR | | 4,777,457 |
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| | | NOVO NORDISK A/S SPONS ADR ADR | | 4,000,086 |
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| | | ORACLE CORP COMMON STOCK USD.01 | | 7,100,808 |
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| | | PROCTER + GAMBLE CO/THE COMMON STOCK | | 5,358,187 |
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| | | QUALCOMM INC COMMON STOCK USD.0001 | | 5,992,931 |
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| | | SEI INVESTMENTS COMPANY COMMON STOCK USD.01 | | 4,587,703 |
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| | | SABMILLER PLC SPONS ADR ADR | | 2,804,555 |
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| | | SCHLUMBERGER LTD COMMON STOCK USD.01 | | 4,343,696 |
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| | | STATE STREET BANK + TRUST CO SHORT TERM INVESTMENT FUND | | 1,481,655 |
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| | | UNITED PARCEL SERVICE CL B COMMON STOCK USD.01 | | 4,997,758 |
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| | | VARIAN MEDICAL SYSTEMS INC COMMON STOCK USD1. | | 3,909,214 |
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| | | VISA INC CLASS A SHARES COMMON STOCK USD.0001 | | 7,954,624 |
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| | | YUM BRANDS INC COMMON STOCK | | 3,096,344 |
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| | | ZIMMER HOLDINGS INC COMMON STOCK USD.01 | | 2,928,958 |
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| | | Total Loomis Sayles | | 150,960,345 |
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| | | Grand Total | | 747,144,336 |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 26, 2015
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| EDISON 401 (K) SAVINGS PLAN |
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By: | /s/ Patricia H. Miller |
| Patricia H. Miller |
| Chair of the Southern California Edison Company |
| Benefits Committee |