UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 11-K
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| ☒ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2020
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| ☐ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ______ to _____
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| Commission File Number 0-20355 |
| A. Full title of the plan and the address of the plan, if different from that of the issuer named below: |
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| Costco 401(k) Retirement Plan |
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| B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
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Costco Wholesale Corporation
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999 Lake Drive
Issaquah, Washington 98027
COSTCO 401(k) RETIREMENT PLAN
Table of Contents
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| Financial Statements: | |
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| Supplementary Information: | |
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| Exhibits: | |
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Report of Independent Registered Public Accounting Firm
To the Audit Committee, Plan Administrator and Participants of
Costco 401(k) Retirement Plan:
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the Costco 401(k) Retirement Plan (the “Plan”) as of December 31, 2020 and 2019, the related statement of changes in net assets available for benefits for the year ended December 31, 2020, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020 and 2019, and the changes in net assets available for benefits for the year ended December 31, 2020, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures to respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Opinion on the Supplementary Information
The supplementary information included in Schedule H, line 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2020, have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplementary information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplementary information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplementary information. In forming our opinion on the supplementary information in the accompanying schedule, we evaluated whether the supplementary information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplementary information in the accompanying schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Moss Adams LLP
Seattle, Washington
June 24, 2021
We have served as the Plan’s auditor since 2020.
COSTCO 401(k) RETIREMENT PLAN
Statements of Net Assets Available for Benefits
December 31, 2020 and 2019
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | 2020 | | 2019 |
| Assets: | | | | | | | |
| Investments at fair value: | | | |
| | Costco Wholesale Corporation common stock | $ | 10,260,421 | | | $ | 8,450,171 | |
| | Common commingled trust funds | 6,250,834 | | | 5,368,077 | |
| | Separately managed accounts | 3,354,012 | | | 2,815,472 | |
| | Registered investment company funds | 1,895,869 | | | 1,602,636 | |
| Investments at contract value: | | | |
| | Fully benefit-responsive investment contracts | 1,543,736 | | | 1,381,266 | |
| | | | | Total investments | 23,304,872 | | | 19,617,622 | |
| Receivables: | | | | |
| | Notes receivable from participants | 469,416 | | | 532,927 | |
| | | | | |
| | Employer contributions | 417,147 | | | 376,072 | |
| | | | | Total receivables | 886,563 | | | 908,999 | |
| Non-interest bearing cash | 1,770 | | | 1,437 | |
| Net assets available for benefits | $ | 24,193,205 | | | $ | 20,528,058 | |
See accompanying notes to financial statements.
COSTCO 401(k) RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | |
| 2020 |
| Net investment income: | |
| Net appreciation of investments | $ | 4,166,352 | |
| Interest | 35,266 | |
| Dividends | 416,018 | |
| | Total net investment income | 4,617,636 | |
| Interest on notes receivable from participants | 26,415 | |
| Contributions to the Plan: | |
| Employee | 774,604 | |
| Employer | 489,526 | |
| | Total contributions | 1,264,130 | |
| Distributions to participants and other | (2,243,034) | |
| | Net increase in net assets available for benefits | 3,665,147 | |
| Net assets available for benefits, beginning of year | 20,528,058 | |
| Net assets available for benefits, end of year | $ | 24,193,205 | |
See accompanying notes to financial statements.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements
December 31, 2020 and 2019
(1)Plan Description
The following description of the Costco 401(k) Retirement Plan (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan. To participate in the Plan, an individual must be an employee of Costco Wholesale Corporation (the Company or Costco) or certain subsidiaries.
The Plan is a defined contribution plan for the benefit of eligible employees, established by the Company under Section 401(a) of the Internal Revenue Code (IRC). It includes a qualified cash or deferred arrangement as described in Section 401(k). The Plan is also subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.
(a)Employee Contributions
The Plan allows certain employees at least 18 years of age to make salary deferral contributions after completing 90 days of service within 12-consecutive months. Eligible employees may contribute from 1% to 50% of their compensation, subject to certain limitations set by the IRC and the Plan. Eligible employees may also contribute amounts representing certain distributions from other retirement plans (rollover contributions).
All newly-eligible employees are automatically enrolled in the Plan at a salary deferral contribution rate of 3%. The percentage deferred into the Plan automatically increases by one percentage point each year, to a maximum automatic deferral of 20%. Employees may opt out of automatic enrollment and increases.
(b)Employer Contributions
Company contributions are invested in accordance with selections made by participants. If no selection has been made, the contribution defaults to the Retirement Trust Fund corresponding to the participant's age. Employer contributions are allocated based on an employee’s classification as either: covered by the collective bargaining agreements with the International Brotherhood of Teamsters; or other eligible employment.
(1) Covered by the Teamsters Agreements
The Company matches 50% of each employee’s contribution up to a maximum of $250 per year. Eligible employees at least 18 years of age who have completed one year of service (12 consecutive months in which the employee worked at least 1,000 hours) are eligible for an annual employer contribution and Plan entry dates for the employer contribution are January 1 and July 1. The annual employer contribution is allocated only to the accounts of eligible Plan participants who are employed on the last day of the applicable Plan year. The allocation rate varies, based on years of service, ranging from $0.05 to $0.47 per straight-time hour worked during the Plan year, up to a maximum of 2,080 hours. This annual contribution was $6 million for the year ended December 31, 2020, and was deposited into the Plan and allocated to participant accounts in March 2021.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2020 and 2019
(2) Other eligible employment
The Company matches 50% of each employee’s contribution up to a maximum of $500 per year. In addition, eligible employees at least 18 years of age who have completed a year of service (12 consecutive months in which the employee worked at least 1,000 hours) are eligible for an annual discretionary employer contribution and Plan entry dates for the discretionary contribution are January 1 and July 1. The discretionary contribution is allocated only to the accounts of eligible Plan participants who are employed on the last day of the applicable Plan year. The allocation rate varies, based on years of service, ranging from 3% to 9% of the participant's compensation. This discretionary contribution was $411.1 million for the year ended December 31, 2020, and was deposited into the Plan and allocated to participant accounts in March 2021.
(c)Participants’ Accounts
Each participant’s account is credited or debited with the participant’s contributions, the Company’s contributions, earnings, fees, expenses, and changes in underlying account assets. The benefit to which a participant is entitled is the vested account balance.
(d)Vesting
Participants are immediately vested in their deferral contributions and in certain other contributions as defined in the Plan document, adjusted for investment experience, fees and expenses. Vesting in any form of employer contribution is based on the following schedule:
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| Years of service | | Percentage vested |
| Under 2 years | | | 0% |
| 2 years | | | 20% |
| 3 years | | | 40% |
| 4 years | | | 60% |
| 5 years | | | 100% |
(e)Forfeitures
If a participant terminates employment, the non-vested portion of the account balance is forfeited. Forfeited amounts are used to reduce future employer contributions or to pay administrative expenses. These were immaterial during 2020. There were no unallocated forfeitures as of December 31, 2020 and 2019, after consideration of forfeitures used to reduce the employer contributions funded subsequent to each year. Forfeitures are restored to a participant’s account if within five years the participant is re-hired and repays the vested account balance distributed upon termination.
(f)Investment Options
Participants may direct funds in their account to the Plan's available options. Participants may transfer amounts between investment options daily, subject to certain trading restrictions. Before 2016, participants could invest 100% of their account in Costco stock; starting January 2016, the Plan has a 50% limit on investment in Costco stock, applied prospectively.
Amounts may be temporarily invested in a cash account prior to investment in the Plan’s investment accounts. See Notes 2, 3 and 4 for additional information regarding the Plan's investments.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2020 and 2019
(g)Distributions
Upon termination of employment, total disability, reaching age 59-1/2 or death, a participant (or participant's beneficiary in the case of death) can request a full, partial or, in certain circumstances, installment or rollover distribution for the vested portion of the account. Participants are also eligible to withdraw a portion of the salary-deferral contribution account in the event of certain financial hardships.
Dividends on the Company's stock are reinvested in the participant’s Company stock account unless a distribution is requested by the participant. These dividends are reported on a gross basis, with total dividends reported as “Dividends” and the amounts distributed reported as “Distributions to participants and other” in the statement of changes in net assets available for benefits.
(h)Notes Receivable from Participants
A participant may borrow between $1,000 up to the lesser of $50,000 or 45% of their vested account balance, reduced by the highest outstanding balance in the previous 12 months, provided this amount is available in the participant's pre-tax and rollover accounts. Loans are repaid through payroll deductions over a period ranging up to four years or, if for the purchase of a principal residence, up to 15 years. The bi-weekly re-payment amount cannot exceed 25% of the participant's net pay. The interest rate is determined by the Plan Administrator from time-to-time and is comparable to rates charged by commercial lenders. At December 31, 2020, interest rates on loans outstanding ranged from 4.25% to 11.50%, with various maturities through August 2036. Participant accounts with loans are charged an application fee at initiation and an annual maintenance fee.
(i)Trustee and Plan Administrator
T. Rowe Price Trust Company is the trustee and recordkeeper for the Plan, and the Costco Benefits Committee is the Plan Administrator.
(j)Administrative and Investment Expenses
Certain administrative expenses, including investment management and transactions fees, are paid by the Plan, subject to subparagraph (e) above. All other administrative expenses are paid by the Company.
(k)CARES Act
In March 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law. The Plan adopted two provisions allowed under the CARES Act, allowing coronavirus-related distributions for up to $50,000 and suspending loan repayments until the end of 2020.
(2)Summary of Significant Accounting Policies
(a)Basis of Accounting
The financial statements of the Plan are prepared under the accrual method of accounting. As required under U.S. generally accepted accounting principles (U.S. GAAP), fully benefit-responsive investment contracts (FBRIC) are reported at contract value (see Note 3), while all other investments in the Plan are reported at fair value (see Note 4). A benefit-responsive investment contract is a contract with a financial institution or an insurance company that provides for a stated return on principal invested over a specified period and permits withdrawals at contract value for benefit payments, loans, or transfers to other investment options offered to the participant by the Plan. Contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2020 and 2019
(b)Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates and assumptions.
(c)Investment Valuation and Income Recognition
The Plan invests in the Company’s common stock, common commingled trust funds and other exchange-traded equity securities held in separately managed accounts, as well as registered investment companies and a FBRIC.
Investments, other than the FBRIC, are reported at fair value. If available, quoted market prices are used to value investments. The FBRIC consists of the Capital Preservation Portfolio (CPP), which is invested in synthetic guaranteed investment contracts and is recorded at contract value. Contract value represents contributions made under each contract, plus earnings, less participant withdrawals and administrative expenses.
There are no reserves against contract value for credit risk of the contract issuer or otherwise. The crediting interest rate is based on a formula agreed upon with the issuer, but may not be less than zero. Such interest rates are reviewed on a quarterly basis for resetting. Certain events may limit the ability of the Plan to transact at contract value with the issuer. Events may include, but are not limited to, Plan termination, bankruptcy of the Company, or defunction of the trustee. In addition, certain events allow the issuer to terminate the contract with the Plan and settle at an amount different from contract value. Examples of such events include the following: (1) an uncured violation of the Plan’s investment guidelines, (2) a breach of material obligation under the contract, (3) a material misrepresentation, or (4) a material amendment to the agreements without the consent of the issuer. The Plan Administrator believes at this time that any events that would limit the Plan’s ability to transact at contract value with participants or that allow the issuer to terminate the contract with the Plan are not probable.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation of investments includes the change in the fair value of assets from one period to the next, plus realized gains and losses.
Investment securities are exposed to various risks, such as interest rate, credit, and overall market volatility. Changes in the values of investment securities could occur, and those changes could materially affect the amounts reported in the statements of net assets available for benefits.
(d)Notes Receivable from Participants
Participant loans are classified as notes receivable from participants, which are segregated from Plan investments and measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable are reclassified as distributions based upon the terms of the Plan document.
(e)Distribution of Benefits
Distributions of benefits are recorded when paid.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2020 and 2019
(f)Recent Accounting Pronouncements
In August 2018, the Financial Accounting Standards Board (FASB) issued ASU 2018-13 - Fair Value Measurement - Disclosure Framework (ASC 820). The guidance modified the disclosure requirements for fair value measurements. The updated guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019 with early adoption permitted. The Plan has evaluated the guidance and concluded that it does not have a material impact.
(g) Subsequent Events
The Plan monitors significant events occurring after the statement of net assets available for benefits date and prior to the issuance of the financial statements to determine the impacts, if any, on the financial statements to be issued. The Plan has evaluated subsequent events through the date which the financial statements are issued.
(3)Fully Benefit-Responsive Investment Contract
The CPP is invested in synthetic guaranteed investment contracts, which consist of a portfolio of underlying assets owned by the Plan and wrap contracts issued by an insurance company and a financial institution. The issuers of the wrap contracts provide for unscheduled withdrawals from the contracts at contract value, regardless of the value of the underlying assets, in order to fund routine withdrawals.
(4)Fair Value Measurement
U.S. GAAP defines fair value 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. Fair value is estimated by applying a fair value hierarchy, which requires maximizing the use of observable inputs. The three levels of inputs are:
Level 1: Quoted market prices in active markets for identical assets or liabilities.
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3: Significant unobservable inputs that are not corroborated by market data.
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 relevant observable inputs and minimize the use of unobservable inputs. Valuation techniques utilized during the reporting period were not changed from previous practice. The following is a description of the valuation methodologies used for assets measured at fair value.
Common stock, underlying securities in separately managed accounts, and registered investment company funds: These investments are deemed to be actively traded and are valued at the closing price reported in the active market in which the individual securities are traded. These assets are valued using Level 1 inputs. Mutual funds held by the Plan are open-end mutual funds that are registered with the U.S. Securities and Exchange Commission. Separately managed accounts largely consist of common and foreign stock.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2020 and 2019
Common commingled trust funds: The valuation techniques used to measure the fair value of common commingled trust funds are based on quoted market prices, such as quoted net asset values (NAV) published by the fund as supported in an active market. Plan participant transactions of investment or withdrawals may occur on a daily basis in these trusts. These assets are valued using Level 1 inputs.
The tables below present information regarding investments that are measured at fair value on a recurring basis and indicate the level within the hierarchy reflecting the valuation techniques utilized to determine fair value as of December 31, 2020 and 2019.
| | | | | | | | | | | |
| December 31, 2020: | Level 1
(in 000's) | | | | | | |
| Investments, at fair value: | | | | | | | |
| Costco Wholesale Corporation common stock | $ | 10,260,421 | | | | | | | |
| Common commingled trust funds | 6,250,834 | | | | | | | |
| Separately managed accounts | 3,354,012 | | | | | | | |
| Registered investment company funds | 1,895,869 | | | | | | | |
| Total investments in fair value hierarchy | $ | 21,761,136 | | | | | | | |
| | | | | | | | | | | |
| December 31, 2019: | Level 1
(in 000's) | | | | | | |
| Investments, at fair value: | | | | | | | |
| Costco Wholesale Corporation common stock | $ | 8,450,171 | | | | | | | |
| Common commingled trust funds | 5,368,077 | | | | | | | |
| Separately managed accounts | 2,815,472 | | | | | | | |
| Registered investment company funds | 1,602,636 | | | | | | | |
| Total investments in fair value hierarchy | $ | 18,236,356 | | | | | | | |
(5)Plan Termination
Although it has no present intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to ERISA and the requirements of the collective bargaining agreements with the International Brotherhood of Teamsters. In the event of termination, participants will become 100% vested in their accounts.
(6)Commitments and Contingencies
On June 23, 2020, a putative class action was filed against the Company, the "Board of Directors," the "Costco Benefits Committee" and others under the Employee Retirement Income Security Act, in the United States District Court for the Eastern District of Wisconsin. Dustin S. Soulek v. Costco Wholesale, et al., Case No. 20-cv-937. The class is alleged to be beneficiaries of the Costco 401(k) plan from June 23, 2014, and the claims are that the defendants breached their fiduciary duties in the operation and oversight of the plan. The complaint seeks injunctive relief, damages, interest, costs, and attorneys' fees. On September 11, 2020, the defendants filed a motion to dismiss the complaint, and on September 21 the plaintiffs filed an amended complaint, which the defendants have also moved to dismiss.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2020 and 2019
(7)Tax Status
In a determination letter dated June 9, 2017, the IRS informed the Company that the Plan is designed in accordance with applicable sections of the IRC. The Plan has been amended since receiving the determination letter. The Plan Administrator believes that the Plan is designed and is being operated in compliance with the IRC.
U.S. GAAP requires the Plan Administrator to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has concluded that as of December 31, 2020, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; there are currently no audits in progress.
(8)Party-in-Interest and Related Party Transactions
Certain Plan investments are shares of registered investment companies, benefit-responsive investment contracts, and common commingled trust funds managed by T. Rowe Price Trust Company. T. Rowe Price is also the trustee and recordkeeper as defined by the Plan, therefore these transactions qualify as exempt party-in-interest transactions.
As the Plan sponsor, the Company is a party-in-interest with respect to the Plan. As of December 31, 2020 and 2019, the Plan held 27,232,000 and 28,750,000 shares of Costco common stock.
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
EIN: 91-1223280 Plan #: 002
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| Registered investment company and common commingled trust funds: | | | | | | | | |
| | American Funds | | New Perspective Fund R6 | | ** | | $ | 460,570 | |
| | PIMCO | | Income Institutional | | ** | | 470,409 | |
| | * T. Rowe Price | | Retirement Balanced Trust H | | ** | | 27,350 | |
| | * T. Rowe Price | | TRP Ret 2005 Active Trust H | | ** | | 20,300 | |
| | * T. Rowe Price | | TRP Ret 2010 Active Trust H | | ** | | 45,315 | |
| | * T. Rowe Price | | TRP Ret 2015 Active Trust H | | ** | | 136,200 | |
| | * T. Rowe Price | | TRP Ret 2020 Active Trust H | | ** | | 424,735 | |
| | * T. Rowe Price | | TRP Ret 2025 Active Trust H | | ** | | 734,357 | |
| | * T. Rowe Price | | TRP Ret 2030 Active Trust H | | ** | | 821,611 | |
| | * T. Rowe Price | | TRP Ret 2035 Active Trust H | | ** | | 734,125 | |
| | * T. Rowe Price | | TRP Ret 2040 Active Trust H | | ** | | 855,716 | |
| | * T. Rowe Price | | TRP Ret 2045 Active Trust H | | ** | | 953,464 | |
| | * T. Rowe Price | | TRP Ret 2050 Active Trust H | | ** | | 601,003 | |
| | * T. Rowe Price | | TRP Ret 2055 Active Trust H | | ** | | 685,288 | |
| | * T. Rowe Price | | TRP Ret 2060 Active Trust H | | ** | | 208,415 | |
| | * T. Rowe Price | | TRP Ret 2065 Active Trust H | | ** | | 1,175 | |
| | * T. Rowe Price | | TRP Ret 2020 Active Trust -Income H | | ** | | 1,780 | |
| | Vanguard | | Extended Market Index Institutional | | ** | | 21,794 | |
| | Vanguard | | Total International Stock Index DX Institutional | | ** | | 41,966 | |
| | Vanguard | | Total Bond Market Index Fund Institutional | | ** | | 131,909 | |
| | Vanguard | | Institutional Index, Plus | | ** | | 769,221 | |
| | Total registered investment company and common commingled trust funds | | | | 8,146,703 | |
| Separately managed accounts: | | | | | | | | |
| | Mid-Cap Growth Portfolio: | | | | | | |
| | | Acadia Healthcare Co. Inc. | | Common Stock | | ** | | 9,352 | |
| | | Acadia Pharmaceuticals Inc. | | Common Stock | | ** | | 802 | |
| | | Agilent Technologies Inc. | | Common Stock | | ** | | 26,906 | |
| | | AirBNB Inc. - Class A | | Common Stock | | ** | | 913 | |
| | | Alaska Air Group Inc. | | Common Stock | | ** | | 5,878 | |
| | | Align Technology Inc. | | Common Stock | | ** | | 6,415 | |
| | | Alnylam Pharmaceutical Inc. | | Common Stock | | ** | | 6,241 | |
| | | Ameren Corporation | | Common Stock | | ** | | 4,373 | |
| | | Amphenol Corp. - Class A | | Common Stock | | ** | | 6,279 | |
| | | Array Technologies Inc. | | Common Stock | | ** | | 7,423 | |
| | | Assurant Inc. | | Common Stock | | ** | | 10,220 | |
| | | Avantor Inc. | | Common Stock | | ** | | 15,347 | |
| | | Avery Dennison Corp. | | Common Stock | | ** | | 11,792 | |
| | | Ball Corp. | | Common Stock | | ** | | 33,370 | |
| | | Bentley Systems Inc. - Class B | | Common Stock | | ** | | 895 | |
| | | Bill.com Holdings Inc. | | Common Stock | | ** | | 3,004 | |
| | | Black Knight Inc. | | Common Stock | | ** | | 12,285 | |
| | | Boston Beer Company Inc. - Class A | | Common Stock | | ** | | 1,989 | |
| | | Bright Horizons Family Solutions | | Common Stock | | ** | | 1,557 | |
| | | Broadridge Financial Solutions | | Common Stock | | ** | | 5,670 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Bruker Corp. | | Common Stock | | ** | | 19,764 | |
| | | Burlington Stores Inc. | | Common Stock | | ** | | 21,978 | |
| | | BWX Technologies Inc. | | Common Stock | | ** | | 9,588 | |
| | | Casey's General Stores Inc. | | Common Stock | | ** | | 15,545 | |
| | | Catalent Inc. | | Common Stock | | ** | | 31,127 | |
| | | CBOE Global Markets Inc. | | Common Stock | | ** | | 12,296 | |
| | | Ceridian HCM Holding Inc. | | Common Stock | | ** | | 16,096 | |
| | | Chipotle Mexican Grill Inc. | | Common Stock | | ** | | 12,485 | |
| | | Citrix Systems Inc. | | Common Stock | | ** | | 7,809 | |
| | | Cognex Corp. | | Common Stock | | ** | | 3,534 | |
| | | Colfax Corp. | | Common Stock | | ** | | 12,011 | |
| | | Cooper Cos Inc./The | | Common Stock | | ** | | 21,807 | |
| | | Corning Inc. | | Common Stock | | ** | | 10,840 | |
| | | Costar Group Inc. | | Common Stock | | ** | | 16,643 | |
| | | Crowdstrike Holdings Inc. - Class A | | Common Stock | | ** | | 7,416 | |
| | | Dentsply Sirona Inc. | | Common Stock | | ** | | 3,300 | |
| | | Docusign Inc. | | Common Stock | | ** | | 18,902 | |
| | | Dollar General Corp. | | Common Stock | | ** | | 17,250 | |
| | | Dollar Tree Inc. | | Common Stock | | ** | | 13,293 | |
| | | Domino's Pizza Inc. | | Common Stock | | ** | | 4,987 | |
| | | Door Dash - Class A | | Common Stock | | ** | | 720 | |
| | | Door Dash - Restricted Class A Lockup Shares | | Common Stock | | ** | | 1,308 | |
| | | Draftkings Inc. - Class A | | Common Stock | | ** | | 3,447 | |
| | | Dun & Bradstreet Holdings Inc. | | Common Stock | | ** | | 3,761 | |
| | | Elanco Animal Health Inc. | | Common Stock | | ** | | 9,940 | |
| | | Entegris Inc. | | Common Stock | | ** | | 11,344 | |
| | | Equifax Inc. | | Common Stock | | ** | | 13,696 | |
| | | Etsy Inc. | | Common Stock | | ** | | 10,144 | |
| | | Eversource Energy | | Common Stock | | ** | | 3,202 | |
| | | Exact Sciences Corp. | | Common Stock | | ** | | 8,313 | |
| | | Exelixis Inc. | | Common Stock | | ** | | 907 | |
| | | Five Below | | Common Stock | | ** | | 3,851 | |
| | | Five9 Inc. | | Common Stock | | ** | | 3,315 | |
| | | Fleetcor Technologies Inc. | | Common Stock | | ** | | 15,284 | |
| | | Fortive Corp. | | Common Stock | | ** | | 12,752 | |
| | | Global Payments Inc. | | Common Stock | | ** | | 4,956 | |
| | | GoHealth Inc. - Class A | | Common Stock | | ** | | 1,312 | |
| | | Hilton Worldwide Holdings Inc. | | Common Stock | | ** | | 16,806 | |
| | | Hologic Inc. | | Common Stock | | ** | | 37,010 | |
| | | IAC/InterActive Corp. | | Common Stock | | ** | | 8,926 | |
| | | ICU Medical Inc. | | Common Stock | | ** | | 6,437 | |
| | | IDEX Corp. | | Common Stock | | ** | | 18,532 | |
| | | IDEXX Laboratories Inc. | | Common Stock | | ** | | 6,500 | |
| | | Incyte Corp. | | Common Stock | | ** | | 11,572 | |
| | | Ingersoll-Rand Inc. | | Common Stock | | ** | | 23,836 | |
| | | INPHI Corp | | Common Stock | | ** | | 6,260 | |
| | | Ionis Pharmaceuticals Inc. | | Common Stock | | ** | | 7,975 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | JAND Inc. DBA Warby Parker - Class A | | Common Stock | | ** | | 70 | |
| | | JB Hunt Transport Services Inc. | | Common Stock | | ** | | 16,267 | |
| | | Kemper Corp. | | Common Stock | | ** | | 3,612 | |
| | | Keysight Technologies Inc. | | Common Stock | | ** | | 19,952 | |
| | | KKR & Co. Inc. | | Common Stock | | ** | | 10,693 | |
| | | KLA Corp. | | Common Stock | | ** | | 12,173 | |
| | | Leidos Holdings Inc. | | Common Stock | | ** | | 3,891 | |
| | | Lululemon Athletica Inc. | | Common Stock | | ** | | 2,437 | |
| | | MarketAxess Holdings Inc. | | Common Stock | | ** | | 7,420 | |
| | | Marriott International - Class A | | Common Stock | | ** | | 6,994 | |
| | | Martin Marietta Materials | | Common Stock | | ** | | 4,261 | |
| | | Match Group Inc. | | Common Stock | | ** | | 27,828 | |
| | | Maxim Integrated Products | | Common Stock | | ** | | 15,164 | |
| | | MGM Resorts International | | Common Stock | | ** | | 11,757 | |
| | | Microchip Technology Inc. | | Common Stock | | ** | | 29,013 | |
| | | Molina Healthcare Inc. | | Common Stock | | ** | | 4,255 | |
| | | Multiplan Corp. | | Common Stock | | ** | | 4,628 | |
| | | National Instruments Corp. | | Common Stock | | ** | | 10,285 | |
| | | nCino Inc. | | Common Stock | | ** | | 1,087 | |
| | | Neurocrine Biosciences Inc. | | Common Stock | | ** | | 5,465 | |
| | | O'Reilly Automotive Inc. | | Common Stock | | ** | | 11,771 | |
| | | Packaging Corporation of America | | Common Stock | | ** | | 4,966 | |
| | | Pershing Square Tontine Holdings Inc. - Class A | | Common Stock | | ** | | 4,021 | |
| | | PPD Inc. | | Common Stock | | ** | | 3,731 | |
| | | PRA Health Sciences Inc. | | Common Stock | | ** | | 13,929 | |
| | | Procore Technologies Private Placement | | Common Stock | | ** | | 537 | |
| | | PTC Inc. | | Common Stock | | ** | | 2,632 | |
| | | Quidel Corp. | | Common Stock | | ** | | 5,071 | |
| | | Raymond James Financial Inc. | | Common Stock | | ** | | 4,689 | |
| | | Reynolds Consumer Products Inc. | | Common Stock | | ** | | 4,508 | |
| | | Rivian Automotive Series D Convertible | | Common Stock | | ** | | 3,209 | |
| | | Rivian Automotive Series E Convertible | | Common Stock | | ** | | 1,218 | |
| | | Roper Technologies Inc. | | Common Stock | | ** | | 12,075 | |
| | | Ross Stores Inc. | | Common Stock | | ** | | 7,862 | |
| | | RPM International Inc. | | Common Stock | | ** | | 6,992 | |
| | | Seagen Inc. | | Common Stock | | ** | | 11,388 | |
| | | Sealed Air Corp. | | Common Stock | | ** | | 9,528 | |
| | | SelectQuote | | Common Stock | | ** | | 1,266 | |
| | | Sempra Energy | | Common Stock | | ** | | 10,706 | |
| | | Skyworks Solutions Inc. | | Common Stock | | ** | | 11,470 | |
| | | Social Finance (DBA Sofi) VC | | Common Stock | | ** | | 2,811 | |
| | | Splunk Inc. | | Common Stock | | ** | | 11,047 | |
| | | Sprouts Farmers Market Inc. | | Common Stock | | ** | | 1,327 | |
| | | SS&C Technologies Holdings | | Common Stock | | ** | | 4,730 | |
| | | Teleflex Inc. | | Common Stock | | ** | | 33,348 | |
| | | Terminix Global Holdings Inc. | | Common Stock | | ** | | 14,747 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Textron Inc. | | Common Stock | | ** | | 21,659 | |
| | | Tradeweb Markets Inc.- Class A | | Common Stock | | ** | | 10,370 | |
| | | TransUnion | | Common Stock | | ** | | 15,980 | |
| | | TreeHouse Foods Inc. | | Common Stock | | ** | | 5,908 | |
| | | Ultragenyx Pharmaceutica Inc. | | Common Stock | | ** | | 3,600 | |
| | | Vail Resorts Inc. | | Common Stock | | ** | | 10,604 | |
| | | Veeva Systems Inc. - Class A | | Common Stock | | ** | | 15,251 | |
| | | Venture Global LNG, Inc., Series B Private Placement | | Common Stock | | ** | | 245 | |
| | | Venture Global LNG, Inc., Series C Private Placement | | Common Stock | | ** | | 1,626 | |
| | | Verisk Analytics Inc. | | Common Stock | | ** | | 16,197 | |
| | | VF Corp. | | Common Stock | | ** | | 6,579 | |
| | | Webster Financial Corp. | | Common Stock | | ** | | 6,240 | |
| | | West Pharmaceutical Services | | Common Stock | | ** | | 7,369 | |
| | | WEX Inc. | | Common Stock | | ** | | 5,497 | |
| | | XILINX Inc. | | Common Stock | | ** | | 8,084 | |
| | | ZYNGA Inc. - Class A | | Common Stock | | ** | | 8,540 | |
| | | Alcon Inc. | | Foreign Stock | | ** | | 8,118 | |
| | | Alkermes PLC | | Foreign Stock | | ** | | 5,588 | |
| | | Aptiv PLC | | Foreign Stock | | ** | | 17,334 | |
| | | Argenx SE - ADR | | Foreign Stock | | ** | | 8,237 | |
| | | Ascendis Pharma A/S - ADR | | Foreign Stock | | ** | | 2,837 | |
| | | Atlassian Corp. PLC - Class A | | Foreign Stock | | ** | | 11,463 | |
| | | Axis Capital Holdings LTD | | Foreign Stock | | ** | | 7,057 | |
| | | Clarivate PLC | | Foreign Stock | | ** | | 17,178 | |
| | | Farfetch Ltd. - Class A | | Foreign Stock | | ** | | 4,787 | |
| | | IHS Markit LTD | | Foreign Stock | | ** | | 8,357 | |
| | | Kirkland Lake Gold LTD | | Foreign Stock | | ** | | 7,349 | |
| | | Marvell Technology Group LTD | | Foreign Stock | | ** | | 23,730 | |
| | | Perrigo Co. PLC | | Foreign Stock | | ** | | 8,589 | |
| | | Spotify Technology SA | | Foreign Stock | | ** | | 11,646 | |
| | | Waste Connections Inc. | | Foreign Stock | | ** | | 5,848 | |
| | | JAND Inc DBA Warby Parker, Series AA Convertible | | Preferred Stock | | ** | | 145 | |
| | | Procore Technologies Series B Convertible | | Preferred Stock | | ** | | 132 | |
| | | Roofoods (Deliveroo) Series G Convertible Preferred | | Preferred Stock | | ** | | 75 | |
| | | Roofoods Limited (Deliveroo) | | Preferred Stock | | ** | | 2,459 | |
| | | Collective US Govt. STIF 5 BPS | | Bond | | ** | | 1,000 | |
| | | Peshing Square Tontine Holdings Inc. | | Warrants | | ** | | 151 | |
| | | * T. Rowe Price Treasury Reserve Fund | | Money Market Securities | | ** | | 27,095 | |
| | Large Cap Value Portfolio: | | | | | | |
| | | AbbVie Inc. | | Common Stock | | ** | | 3,255 | |
| | | AES Corp. | | Common Stock | | ** | | 1,188 | |
| | | Agilent Technologies Inc. | | Common Stock | | ** | | 2,498 | |
| | | Alphabet Inc. - Class C | | Common Stock | | ** | | 13,659 | |
| | | Ameren Corporation | | Common Stock | | ** | | 2,185 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | American International Group | | Common Stock | | ** | | 5,153 | |
| | | Analog Devices Inc. | | Common Stock | | ** | | 2,523 | |
| | | Anthem Inc. | | Common Stock | | ** | | 2,645 | |
| | | Apple Inc. | | Common Stock | | ** | | 1,118 | |
| | | Applied Materials Inc. | | Common Stock | | ** | | 6,290 | |
| | | Avery Dennison Corp. | | Common Stock | | ** | | 614 | |
| | | Bank of America Corp. | | Common Stock | | ** | | 5,047 | |
| | | Becton Dickinson and Co. | | Common Stock | | ** | | 383 | |
| | | Boston Scientific Corp. | | Common Stock | | ** | | 242 | |
| | | Broadcom Inc. | | Common Stock | | ** | | 5,060 | |
| | | Capital One Financial Corp. | | Common Stock | | ** | | 1,865 | |
| | | Caterpillar Inc. | | Common Stock | | ** | | 4,381 | |
| | | Centene Corp. | | Common Stock | | ** | | 217 | |
| | | Citrix Systems Inc. | | Common Stock | | ** | | 795 | |
| | | Coca-Cola Co. | | Common Stock | | ** | | 1,291 | |
| | | Danaher Corp. | | Common Stock | | ** | | 7,567 | |
| | | Deere & Co./Co | | Common Stock | | ** | | 5,236 | |
| | | Digital Realty Trust Inc. | | Common Stock | | ** | | 451 | |
| | | Dominion Energy Inc. | | Common Stock | | ** | | 346 | |
| | | DuPont De Nemours Inc. | | Common Stock | | ** | | 1,952 | |
| | | Elanco Animal Health Inc. | | Common Stock | | ** | | 1,674 | |
| | | Eli Lily & Co. | | Common Stock | | ** | | 1,251 | |
| | | Entergy Corp | | Common Stock | | ** | | 789 | |
| | | EOG Resources Inc. | | Common Stock | | ** | | 789 | |
| | | Equitable Holdings Inc. | | Common Stock | | ** | | 3,805 | |
| | | FedEx Corp. | | Common Stock | | ** | | 2,522 | |
| | | Fidelity National Info Services Inc. | | Common Stock | | ** | | 241 | |
| | | FirstEnergy Corp. | | Common Stock | | ** | | 377 | |
| | | Fiserv Inc. | | Common Stock | | ** | | 1,422 | |
| | | Freeport-Mcmoran Inc. | | Common Stock | | ** | | 1,728 | |
| | | General Electric Co. | | Common Stock | | ** | | 6,729 | |
| | | General Motors Co. | | Common Stock | | ** | | 4,640 | |
| | | Goldman Sachs Group Inc. | | Common Stock | | ** | | 2,673 | |
| | | Hartford Financial Services Group | | Common Stock | | ** | | 1,052 | |
| | | HCA Healthcare Inc. | | Common Stock | | ** | | 4,311 | |
| | | Hilton Worldwide Holdings Inc. | | Common Stock | | ** | | 2,316 | |
| | | Home Depot Inc. | | Common Stock | | ** | | 1,653 | |
| | | Honeywell International Inc. | | Common Stock | | ** | | 5,272 | |
| | | Hubbell Inc. | | Common Stock | | ** | | 94 | |
| | | International Paper Co. | | Common Stock | | ** | | 4,031 | |
| | | Jacobs Engineering Group Inc. | | Common Stock | | ** | | 2,506 | |
| | | Johnson & Johnson | | Common Stock | | ** | | 899 | |
| | | JPMorgan Chase & Co. | | Common Stock | | ** | | 5,117 | |
| | | Keysight Technologies Inc. | | Common Stock | | ** | | 1,064 | |
| | | Kraft Heinz Co. | | Common Stock | | ** | | 503 | |
| | | Lam Research Corp. | | Common Stock | | ** | | 1,791 | |
| | | Lennar Corp. | | Common Stock | | ** | | 1,174 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Live Nation Entertainment Inc. | | Common Stock | | ** | | 751 | |
| | | Marsh & McLennan Cos. | | Common Stock | | ** | | 1,853 | |
| | | Marriott International Inc. - Class A | | Common Stock | | ** | | 1,287 | |
| | | McDonald's Corp. | | Common Stock | | ** | | 2,477 | |
| | | Metlife Inc. | | Common Stock | | ** | | 2,909 | |
| | | MGM Resorts International | | Common Stock | | ** | | 328 | |
| | | Micron Technology Inc. | | Common Stock | | ** | | 3,158 | |
| | | Microsoft Corp. | | Common Stock | | ** | | 9,472 | |
| | | Morgan Stanley | | Common Stock | | ** | | 14,165 | |
| | | Nextera Energy Inc. | | Common Stock | | ** | | 9,017 | |
| | | Norfolk Southern Corp. | | Common Stock | | ** | | 4,255 | |
| | | Nvidia Corp. | | Common Stock | | ** | | 2,145 | |
| | | O'Reilly Automotive Inc. | | Common Stock | | ** | | 189 | |
| | | Packaging Corp. Of America | | Common Stock | | ** | | 5,220 | |
| | | Philip Morris International | | Common Stock | | ** | | 308 | |
| | | PNC Financial Services Group | | Common Stock | | ** | | 3,048 | |
| | | PPG Industries Inc. | | Common Stock | | ** | | 2,489 | |
| | | Principal Financial Group | | Common Stock | | ** | | 457 | |
| | | Prologis Inc. | | Common Stock | | ** | | 7,980 | |
| | | Public Service Enterprise Group | | Common Stock | | ** | | 2,271 | |
| | | Qualcomm Inc. | | Common Stock | | ** | | 8,576 | |
| | | Rockwell Automation Inc. | | Common Stock | | ** | | 1,747 | |
| | | Roper Technologies Inc. | | Common Stock | | ** | | 1,143 | |
| | | Ross Stores Inc. | | Common Stock | | ** | | 509 | |
| | | Salesfore.com Inc. | | Common Stock | | ** | | 312 | |
| | | Schwab (Charles) Corp. | | Common Stock | | ** | | 3,075 | |
| | | Sempra Energy | | Common Stock | | ** | | 5,190 | |
| | | Southern Co./The | | Common Stock | | ** | | 3,240 | |
| | | Southern Copper Corp | | Common Stock | | ** | | 972 | |
| | | Stanley Black & Decker Inc. | | Common Stock | | ** | | 885 | |
| | | Stryker Corp. | | Common Stock | | ** | | 2,675 | |
| | | Sun Communities Inc. | | Common Stock | | ** | | 535 | |
| | | Synopsys Inc. | | Common Stock | | ** | | 1,860 | |
| | | Texas Instruments Inc. | | Common Stock | | ** | | 2,088 | |
| | | Thermo Fisher Scientific Inc. | | Common Stock | | ** | | 6,558 | |
| | | TJX Companies Inc. | | Common Stock | | ** | | 2,398 | |
| | | Travelers Companies Inc. | | Common Stock | | ** | | 1,715 | |
| | | Union Pacific Corp. | | Common Stock | | ** | | 2,637 | |
| | | United Parcel Service - Class B | | Common Stock | | ** | | 2,474 | |
| | | United Rentals Inc. | | Common Stock | | ** | | 2,439 | |
| | | UnitedHealth Group Inc. | | Common Stock | | ** | | 2,097 | |
| | | Visa Inc. - Class A | | Common Stock | | ** | | 1,183 | |
| | | Walt Disney Co./The | | Common Stock | | ** | | 4,444 | |
| | | Wells Fargo & Co. | | Common Stock | | ** | | 2,344 | |
| | | Welltower Inc. | | Common Stock | | ** | | 1,735 | |
| | | Westrock Co. | | Common Stock | | ** | | 3,681 | |
| | | Weyerhauser Co. | | Common Stock | | ** | | 2,852 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Williams Companies Inc. | | Common Stock | | ** | | 2,396 | |
| | | Yum! Brands Inc. | | Common Stock | | ** | | 4,188 | |
| | | Zimmer Biomet Holdings Inc. | | Common Stock | | ** | | 400 | |
| | | Air Liquide SA | | Foreign Stock | | ** | | 479 | |
| | | ASML Holding NV-NY Reg. SHS | | Foreign Stock | | ** | | 1,893 | |
| | | Bausch Health Companies Inc. | | Foreign Stock | | ** | | 617 | |
| | | BHP Groups Ltd. - Sponsored ADR | | Foreign Stock | | ** | | 1,313 | |
| | | Chubb Ltd. | | Foreign Stock | | ** | | 2,585 | |
| | | Covestro AG | | Foreign Stock | | ** | | 630 | |
| | | Johnson Controls International | | Foreign Stock | | ** | | 2,003 | |
| | | Linde PLC | | Foreign Stock | | ** | | 4,881 | |
| | | Medtronic PLC | | Foreign Stock | | ** | | 3,509 | |
| | | NXP Semiconductors NV | | Foreign Stock | | ** | | 5,022 | |
| | | Schneider Electric SE | | Foreign Stock | | ** | | 629 | |
| | | Total SE | | Foreign Stock | | ** | | 543 | |
| | | Collective US Govt. STIF 5 BPS | | Bond | | ** | | 1,002 | |
| | | * T. Rowe Price Government Reserve Fund | | Money Market Securities | | ** | | 587 | |
| | Small-Cap Core Portfolio: | | | | | | |
| | | 908 Devices Inc. | | Common Stock | | ** | | 143 | |
| | | A Place for Rover Inc PP | | Common Stock | | ** | | 9 | |
| | | Acadia Pharmaceuticals Inc. | | Common Stock | | ** | | 738 | |
| | | Acceleron Pharma Inc. | | Common Stock | | ** | | 2,498 | |
| | | Accolade Inc. | | Common Stock | | ** | | 519 | |
| | | Adaptive Biotechnologies | | Common Stock | | ** | | 963 | |
| | | ADT Inc. | | Common Stock | | ** | | 1,536 | |
| | | Advantage Solutions Inc. | | Common Stock | | ** | | 689 | |
| | | Aerojet Rocketdyne Holdings | | Common Stock | | ** | | 774 | |
| | | Agios Pharmaceuticals Inc. | | Common Stock | | ** | | 1,034 | |
| | | Air Lease Corp. | | Common Stock | | ** | | 562 | |
| | | Alcoa Corp. | | Common Stock | | ** | | 1,871 | |
| | | Alignment Healthcare Partners LP | | Common Stock | | ** | | 425 | |
| | | Allbirds Common Stock PP | | Common Stock | | ** | | 269 | |
| | | Allogene Therapeutics Inc. | | Common Stock | | ** | | 236 | |
| | | Altimeter Growth Corp. | | Common Stock | | ** | | 733 | |
| | | Amedisys Inc. | | Common Stock | | ** | | 4,689 | |
| | | American Campus Communities | | Common Stock | | ** | | 2,633 | |
| | | Apellis Pharmaceuticals Inc. | | Common Stock | | ** | | 444 | |
| | | Arcutis Biotherapeutics Inc. | | Common Stock | | ** | | 168 | |
| | | Array Technologies Inc. | | Common Stock | | ** | | 1,478 | |
| | | Arvinas Inc. | | Common Stock | | ** | | 316 | |
| | | Assurant Inc. | | Common Stock | | ** | | 3,651 | |
| | | Atea Pharmaceuticals Inc. | | Common Stock | | ** | | 262 | |
| | | Atlantic Capital Bancshares | | Common Stock | | ** | | 612 | |
| | | Atricure Inc. | | Common Stock | | ** | | 1,818 | |
| | | Avanos Medical Inc. | | Common Stock | | ** | | 2,387 | |
| | | Avidity Biosciences Inc. | | Common Stock | | ** | | 166 | |
| | | Axonics Inc. | | Common Stock | | ** | | 547 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | AZZ Inc. | | Common Stock | | ** | | 2,835 | |
| | | Bankunited Inc. | | Common Stock | | ** | | 3,530 | |
| | | Bellring Brands Inc. - Class A | | Common Stock | | ** | | 675 | |
| | | BJ's Restaurants Inc. | | Common Stock | | ** | | 2,061 | |
| | | Blueprint Medicines Corp. | | Common Stock | | ** | | 2,731 | |
| | | Booz Allen Hamilton Holding | | Common Stock | | ** | | 2,796 | |
| | | Boston Beer Company Inc. - Class A | | Common Stock | | ** | | 8,982 | |
| | | Bridge Bancorp Inc. | | Common Stock | | ** | | 869 | |
| | | Bright Horizons Family Solutions | | Common Stock | | ** | | 2,570 | |
| | | Brink's Co./The | | Common Stock | | ** | | 3,138 | |
| | | Bruker Corp. | | Common Stock | | ** | | 3,561 | |
| | | Burlington Stores Inc. | | Common Stock | | ** | | 6,408 | |
| | | BWX Technologies Inc. | | Common Stock | | ** | | 1,729 | |
| | | Cable One Inc. | | Common Stock | | ** | | 6,002 | |
| | | Cactus Inc. - Class A | | Common Stock | | ** | | 696 | |
| | | Cal-Maine Foods Inc. | | Common Stock | | ** | | 2,289 | |
| | | California Water Service Grp. | | Common Stock | | ** | | 1,614 | |
| | | Capitol Federal Financial Inc. | | Common Stock | | ** | | 1,050 | |
| | | Cara Therapeutics Inc. | | Common Stock | | ** | | 304 | |
| | | CareDx Inc. | | Common Stock | | ** | | 677 | |
| | | Catalent Inc. | | Common Stock | | ** | | 5,545 | |
| | | Cavco Industries Inc. | | Common Stock | | ** | | 1,091 | |
| | | CBOE Global Markets Inc. | | Common Stock | | ** | | 3,444 | |
| | | Cerevel Therapeutics Holdings - Private Placement | | Common Stock | | ** | | 226 | |
| | | Ceridian HCM Holding Inc. | | Common Stock | | ** | | 4,790 | |
| | | Certara Inc. | | Common Stock | | ** | | 274 | |
| | | Chart Industries Inc. | | Common Stock | | ** | | 4,512 | |
| | | Checkr Inc. Private Placement | | Common Stock | | ** | | 206 | |
| | | Chesapeake Utilities Corp. | | Common Stock | | ** | | 2,630 | |
| | | Chuy's Holdings Inc. | | Common Stock | | ** | | 1,906 | |
| | | Cinemark Holdings Inc. | | Common Stock | | ** | | 1,183 | |
| | | Columbia Banking System Inc. | | Common Stock | | ** | | 984 | |
| | | Community Healthcare Trust Inc. | | Common Stock | | ** | | 676 | |
| | | Coupa Software Inc. | | Common Stock | | ** | | 1,334 | |
| | | Cross Country Healthcare Inc. | | Common Stock | | ** | | 535 | |
| | | Crossfirst Bankshares Inc. | | Common Stock | | ** | | 701 | |
| | | CTS Corp. | | Common Stock | | ** | | 2,663 | |
| | | Cubesmart | | Common Stock | | ** | | 1,898 | |
| | | Cubic Corp. | | Common Stock | | ** | | 2,412 | |
| | | Denny's Corp. | | Common Stock | | ** | | 1,135 | |
| | | Devon Energy Corp. | | Common Stock | | ** | | 1,282 | |
| | | Diamondback Energy Inc. | | Common Stock | | ** | | 2,613 | |
| | | Dimy Technology Group Inc. | | Common Stock | | ** | | 321 | |
| | | Dogwood State Bank, Non-Voting, PP | | Common Stock | | ** | | 112 | |
| | | Dogwood State Bank, Voting, PP | | Common Stock | | ** | | 55 | |
| | | Domitar Corp. | | Common Stock | | ** | | 1,173 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Douglas Emmett Inc. | | Common Stock | | ** | | 355 | |
| | | Drive Shack Inc. | | Common Stock | | ** | | 319 | |
| | | Drill-Quip Inc. | | Common Stock | | ** | | 569 | |
| | | Duck Creek Technologies Inc. | | Common Stock | | ** | | 244 | |
| | | East West Bancorp Inc. | | Common Stock | | ** | | 2,394 | |
| | | EastGroup Properties Inc. | | Common Stock | | ** | | 4,634 | |
| | | Element Solutions Inc. | | Common Stock | | ** | | 4,238 | |
| | | Enanta Pharmaceuticals Inc. | | Common Stock | | ** | | 110 | |
| | | Encore Capital Group Inc. | | Common Stock | | ** | | 1,725 | |
| | | Enerpac Tool Group Corp. | | Common Stock | | ** | | 2,486 | |
| | | Entegris Inc. | | Common Stock | | ** | | 7,025 | |
| | | Equity Bancshares Inc.- Class A | | Common Stock | | ** | | 744 | |
| | | ESCO Technologies Inc. | | Common Stock | | ** | | 3,757 | |
| | | Euronet Worldwide Inc. | | Common Stock | | ** | | 2,627 | |
| | | FB Financial Corp. | | Common Stock | | ** | | 2,016 | |
| | | Federal Signal Corp. | | Common Stock | | ** | | 971 | |
| | | Fiesta Restaurant Group | | Common Stock | | ** | | 1,215 | |
| | | First Bancshares Inc./MS | | Common Stock | | ** | | 1,244 | |
| | | First Industrial Realty Trust | | Common Stock | | ** | | 1,246 | |
| | | Five Below | | Common Stock | | ** | | 1,272 | |
| | | Five9 Inc. | | Common Stock | | ** | | 5,533 | |
| | | Flame Biosciences, Inc. Private Placement | | Common Stock | | ** | | 108 | |
| | | G1 Therapeutics Inc. | | Common Stock | | ** | | 217 | |
| | | Generation Bio Co. | | Common Stock | | ** | | 791 | |
| | | Gentherm Inc. | | Common Stock | | ** | | 2,538 | |
| | | Gibraltar Industries Inc. | | Common Stock | | ** | | 3,635 | |
| | | Global Blood Therapeutics Inc. | | Common Stock | | ** | | 1,851 | |
| | | Graco Inc. | | Common Stock | | ** | | 2,940 | |
| | | Grasshopper Bancorp Voting, PP | | Common Stock | | ** | | 147 | |
| | | Haliburton Co. | | Common Stock | | ** | | 2,793 | |
| | | Hanger Inc. | | Common Stock | | ** | | 2,096 | |
| | | Hanover Insurance Group Inc. | | Common Stock | | ** | | 2,422 | |
| | | Haynes International Inc. | | Common Stock | | ** | | 847 | |
| | | Helios Technologies Inc. | | Common Stock | | ** | | 1,796 | |
| | | Heritage Commerce Corp. | | Common Stock | | ** | | 979 | |
| | | Heritage Financial Corp. | | Common Stock | | ** | | 1,013 | |
| | | Heritage-Crystal Clean Inc. | | Common Stock | | ** | | 869 | |
| | | HMS Holdings Corp. | | Common Stock | | ** | | 523 | |
| | | Home Bancshares Inc. | | Common Stock | | ** | | 2,569 | |
| | | Homology Medicines Inc. | | Common Stock | | ** | | 244 | |
| | | Huron Consulting Group Inc. | | Common Stock | | ** | | 528 | |
| | | Hydrofarm Holdings Group Inc. | | Common Stock | | ** | | 186 | |
| | | ICU Medical Inc. | | Common Stock | | ** | | 2,407 | |
| | | Idacorp Inc. | | Common Stock | | ** | | 2,305 | |
| | | IGM Biosciences Inc. | | Common Stock | | ** | | 949 | |
| | | Inari Medical Inc. | | Common Stock | | ** | | 285 | |
| | | Ingersoll-Rand Inc. | | Common Stock | | ** | | 4,086 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Insmed Inc. | | Common Stock | | ** | | 2,560 | |
| | | Intella Therapeutics Inc. | | Common Stock | | ** | | 520 | |
| | | Investors Bancorp Inc. | | Common Stock | | ** | | 1,289 | |
| | | Iovance Biotherapeutics Inc. | | Common Stock | | ** | | 393 | |
| | | iRhythm Technologies Inc. | | Common Stock | | ** | | 4,550 | |
| | | Jand Inc. DBA Warby Parker Class A Common | | Common Stock | | ** | | 411 | |
| | | JBG Smith Properties | | Common Stock | | ** | | 2,681 | |
| | | John Bean Technologies Corp. | | Common Stock | | ** | | 3,684 | |
| | | Knight-Swift Transportation | | Common Stock | | ** | | 3,370 | |
| | | Kodiak Sciences Inc. | | Common Stock | | ** | | 4,593 | |
| | | Kratos Defense & Security | | Common Stock | | ** | | 2,204 | |
| | | Landstar System Inc. | | Common Stock | | ** | | 1,435 | |
| | | Lattice Semiconductor Corp. | | Common Stock | | ** | | 6,946 | |
| | | Liberty Oilfield Services - Class A | | Common Stock | | ** | | 1,765 | |
| | | Littelfuse Inc. | | Common Stock | | ** | | 2,917 | |
| | | Live Oak Bancshares Inc. | | Common Stock | | ** | | 2,612 | |
| | | Magnolia Oil & Gas Corp - Class A | | Common Stock | | ** | | 1,437 | |
| | | Manhattan Associates Inc. | | Common Stock | | ** | | 828 | |
| | | Matson Inc. | | Common Stock | | ** | | 3,314 | |
| | | Meridian Bancorp Inc. | | Common Stock | | ** | | 1,431 | |
| | | Meritor Inc. | | Common Stock | | ** | | 3,130 | |
| | | Mesa Laboratories Inc. | | Common Stock | | ** | | 852 | |
| | | MGE Energy Inc | | Common Stock | | ** | | 835 | |
| | | Michaels Companies Inc./The | | Common Stock | | ** | | 1,955 | |
| | | Middlesex Water Co. | | Common Stock | | ** | | 1,564 | |
| | | Minerals Technologies Inc. | | Common Stock | | ** | | 2,054 | |
| | | Molina Healthcare Inc. | | Common Stock | | ** | | 6,322 | |
| | | Monro Inc. | | Common Stock | | ** | | 2,431 | |
| | | MS Instruments Inc. | | Common Stock | | ** | | 749 | |
| | | MSA Safety Inc. | | Common Stock | | ** | | 1,845 | |
| | | Mueller Water Products Inc.- Class A | | Common Stock | | ** | | 1,843 | |
| | | National Cinemedia Inc. | | Common Stock | | ** | | 553 | |
| | | National Instruments Corp. | | Common Stock | | ** | | 3,314 | |
| | | nCinco Inc. | | Common Stock | | ** | | 278 | |
| | | nCinco Inc. Private placement | | Common Stock | | ** | | 1,300 | |
| | | Nevro Corp. | | Common Stock | | ** | | 2,228 | |
| | | Nextera Energy Partners LP | | Common Stock | | ** | | 1,823 | |
| | | Nextier Oilfield Solutions Inc. | | Common Stock | | ** | | 867 | |
| | | Northwestern Corp. | | Common Stock | | ** | | 697 | |
| | | NuVasive Inc. | | Common Stock | | ** | | 1,167 | |
| | | Oak Street Health Inc. | | Common Stock | | ** | | 292 | |
| | | Odonate Therapeutics Inc. | | Common Stock | | ** | | 49 | |
| | | Ollie's Bargain Outlet Holdings | | Common Stock | | ** | | 4,214 | |
| | | One Gas Inc. | | Common Stock | | ** | | 3,517 | |
| | | Origin Bancorp Inc. | | Common Stock | | ** | | 1,363 | |
| | | Outlet Medical Inc. | | Common Stock | | ** | | 221 | |
| | | Pacific Premier Bancorp Inc. | | Common Stock | | ** | | 2,262 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Papa John's Intl. Inc. | | Common Stock | | ** | | 4,251 | |
| | | Parsons Corp. | | Common Stock | | ** | | 816 | |
| | | Pax Labs - Class A | | Common Stock | | ** | | 278 | |
| | | Paycom Software Inc. | | Common Stock | | ** | | 3,274 | |
| | | PDF Solutions Inc. | | Common Stock | | ** | | 1,137 | |
| | | Pennant Group Inc./The | | Common Stock | | ** | | 1,629 | |
| | | Pennymac Financial Services | | Common Stock | | ** | | 3,598 | |
| | | Penumbra Inc. | | Common Stock | | ** | | 1,080 | |
| | | PGT Innovations Inc. | | Common Stock | | ** | | 1,452 | |
| | | Pinnacle Financial Partners | | Common Stock | | ** | | 3,498 | |
| | | Post Holdings Inc. | | Common Stock | | ** | | 3,139 | |
| | | PRA Group Inc. | | Common Stock | | ** | | 1,902 | |
| | | Professional Holdings Corp. | | Common Stock | | ** | | 89 | |
| | | Professional Holdings Corp. - Class A | | Common Stock | | ** | | 243 | |
| | | Prog Holdigns Inc. | | Common Stock | | ** | | 3,100 | |
| | | Proofpoint Inc. | | Common Stock | | ** | | 3,084 | |
| | | Prosperity Bancshares Inc. | | Common Stock | | ** | | 2,017 | |
| | | Providence Service Corp. | | Common Stock | | ** | | 2,233 | |
| | | PS Business Parks Inc./CA | | Common Stock | | ** | | 3,386 | |
| | | PTC Therapeutivs Inc. | | Common Stock | | ** | | 359 | |
| | | Pulmonx Corp. | | Common Stock | | ** | | 245 | |
| | | Quaker Chemical Corp. | | Common Stock | | ** | | 3,207 | |
| | | Quidel Corp. | | Common Stock | | ** | | 5,151 | |
| | | Radius Health Inc. | | Common Stock | | ** | | 1,851 | |
| | | Rapt Theraputics Inc. | | Common Stock | | ** | | 269 | |
| | | Reata Pharmaceuticals Inc.- Class A | | Common Stock | | ** | | 1,338 | |
| | | Red Robin Gourmet Burgers | | Common Stock | | ** | | 827 | |
| | | Regency Centers Corp. | | Common Stock | | ** | | 653 | |
| | | Replimune Group Inc. | | Common Stock | | ** | | 244 | |
| | | Rexford Industrial Realty Inc. | | Common Stock | | ** | | 2,915 | |
| | | RH | | Common Stock | | ** | | 2,044 | |
| | | Rivian Automotive Ser D CV | | Common Stock | | ** | | 872 | |
| | | Rivian Automotive Ser E CVT PFD ST | | Common Stock | | ** | | 885 | |
| | | Rush Enterprises Inc. - Class A | | Common Stock | | ** | | 2,036 | |
| | | Safety Insurance Group Inc. | | Common Stock | | ** | | 1,064 | |
| | | Saia Inc. | | Common Stock | | ** | | 2,035 | |
| | | Sanderson Farms Inc. | | Common Stock | | ** | | 2,093 | |
| | | Sandy Spring Bancorp Inc. | | Common Stock | | ** | | 1,161 | |
| | | Scholar Rock Holding Corp. | | Common Stock | | ** | | 1,919 | |
| | | Seacoast Banking Corp./FL | | Common Stock | | ** | | 2,609 | |
| | | Seagan Inc. | | Common Stock | | ** | | 1,813 | |
| | | Seer Inc. | | Common Stock | | ** | | 319 | |
| | | Selective Insurance Group | | Common Stock | | ** | | 3,916 | |
| | | SelectQuote Inc. | | Common Stock | | ** | | 694 | |
| | | Semtech Corp. | | Common Stock | | ** | | 1,227 | |
| | | Service Titan Inc. Private Placement | | Common Stock | | ** | | 31 | |
| | | Signature Bank | | Common Stock | | ** | | 2,894 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Siteone Landscape Supply Inc. | | Common Stock | | ** | | 5,745 | |
| | | SJW Group | | Common Stock | | ** | | 2,203 | |
| | | Skyline Champion Corp. | | Common Stock | | ** | | 1,769 | |
| | | SLM Corp. | | Common Stock | | ** | | 1,203 | |
| | | South State Corp. | | Common Stock | | ** | | 3,137 | |
| | | Southwest Gas Holdings Inc. | | Common Stock | | ** | | 3,249 | |
| | | SPX Corp. | | Common Stock | | ** | | 1,934 | |
| | | SS&C Technologies Holdings | | Common Stock | | ** | | 4,751 | |
| | | State Auto Financial Corp. | | Common Stock | | ** | | 421 | |
| | | Stepstone Group Inc. - Class A | | Common Stock | | ** | | 2,173 | |
| | | Sterling Bancorp Inc. | | Common Stock | | ** | | 294 | |
| | | Steven Madden Ltd. | | Common Stock | | ** | | 338 | |
| | | Stoneridge Inc. | | Common Stock | | ** | | 1,168 | |
| | | Strategic Education Inc. | | Common Stock | | ** | | 370 | |
| | | Teledyne Technologies Inc. | | Common Stock | | ** | | 5,114 | |
| | | Terminix Global Holdings Inc. | | Common Stock | | ** | | 1,214 | |
| | | Tetra Tech Inc. | | Common Stock | | ** | | 1,206 | |
| | | TG Therapeutics Inc. | | Common Stock | | ** | | 201 | |
| | | Therapeuticsmd Inc. | | Common Stock | | ** | | 537 | |
| | | Thermon Group Holdings Inc. | | Common Stock | | ** | | 350 | |
| | | Toast Inc. Private Placement | | Common Stock | | ** | | 4 | |
| | | Toro Co. | | Common Stock | | ** | | 2,305 | |
| | | Treehouse Foods Inc. | | Common Stock | | ** | | 2,603 | |
| | | Tri Pointe Group Inc. | | Common Stock | | ** | | 1,243 | |
| | | Tricida Inc. | | Common Stock | | ** | | 187 | |
| | | Turning Point Therapeutics Inc. | | Common Stock | | ** | | 1,688 | |
| | | U.S. Physical Therapy Inc. | | Common Stock | | ** | | 2,394 | |
| | | Ultragenyx Pharmaceutical Inc. | | Common Stock | | ** | | 4,592 | |
| | | Upwork Inc. | | Common Stock | | ** | | 3,345 | |
| | | UTZ Brands Inc. | | Common Stock | | ** | | 1,631 | |
| | | Venture Global LNG, Inc., Series B | | Common Stock | | ** | | 89 | |
| | | Venture Global LNG, Inc., Series C | | Common Stock | | ** | | 1,164 | |
| | | Vroom Inc. | | Common Stock | | ** | | 2,390 | |
| | | Webster Financial Corp. | | Common Stock | | ** | | 1,870 | |
| | | Western Alliance Bancorp | | Common Stock | | ** | | 3,893 | |
| | | Workiva Inc. | | Common Stock | | ** | | 1,095 | |
| | | Xencor Inc. | | Common Stock | | ** | | 1,657 | |
| | | Zendesk Inc. | | Common Stock | | ** | | 884 | |
| | | Zentalis Phrmaceuticals Inc. | | Common Stock | | ** | | 298 | |
| | | Zynga Inc.-Class A | | Common Stock | | ** | | 2,953 | |
| | | Abcam PLC - Sponsor ADR | | Foreign Stock | | ** | | 519 | |
| | | Argenx SE - ADR | | Foreign Stock | | ** | | 4,655 | |
| | | Ascendis Pharma A/S - ADR | | Foreign Stock | | ** | | 5,077 | |
| | | Axis Capital Holdings LTD | | Foreign Stock | | ** | | 2,693 | |
| | | Bluescape Opportunites ACQ | | Foreign Stock | | ** | | 806 | |
| | | Clarivate PLC | | Foreign Stock | | ** | | 4,561 | |
| | | Computer Modelling Group LTD | | Foreign Stock | | ** | | 344 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Constellium SE | | Foreign Stock | | ** | | 2,420 | |
| | | Crispr Therapeutics AG | | Foreign Stock | | ** | | 630 | |
| | | Descartes Systems Grp./The | | Foreign Stock | | ** | | 4,333 | |
| | | ERO Copper Corp. | | Foreign Stock | | ** | | 2,441 | |
| | | Essent Group LTD | | Foreign Stock | | ** | | 2,268 | |
| | | FirstService Corp. | | Foreign Stock | | ** | | 5,926 | |
| | | Flagship Communities REIT UT | | Foreign Stock | | ** | | 208 | |
| | | Franco-Nevada Corp. | | Foreign Stock | | ** | | 1,717 | |
| | | Legend Biotech Corp. ADR | | Foreign Stock | | ** | | 82 | |
| | | Meiragtx Holdings PLC | | Foreign Stock | | ** | | 178 | |
| | | Nomad Foods LTD | | Foreign Stock | | ** | | 1,855 | |
| | | Northern Star Resources LTD | | Foreign Stock | | ** | | 3,317 | |
| | | Novanta Inc. | | Foreign Stock | | ** | | 4,462 | |
| | | Orchard Therapeutics PLC | | Foreign Stock | | ** | | 125 | |
| | | Popular Inc. | | Foreign Stock | | ** | | 1,414 | |
| | | Rentokil Initial PLC | | Foreign Stock | | ** | | 1,877 | |
| | | Seven Generations Energy | | Foreign Stock | | ** | | 800 | |
| | | Stoneco LTD | | Foreign Stock | | ** | | 1,712 | |
| | | West Fraser Timber Co. LTD | | Foreign Stock | | ** | | 2,346 | |
| | | 1stdibs.com, Inc., Series D Convertible | | Preferred Stock | | ** | | 385 | |
| | | A Place For Rover, Inc. | | Preferred Stock | | ** | | 122 | |
| | | Allbirds, Inc. Series A Convertible | | Preferred Stock | | ** | | 88 | |
| | | Allbirds, Inc. Series B Convertible | | Preferred Stock | | ** | | 15 | |
| | | Allbirds, Inc. Series C Convertible | | Preferred Stock | | ** | | 147 | |
| | | Allbirds, Inc. Series Seed Convertible | | Preferred Stock | | ** | | 47 | |
| | | Bright Health Series E Convertible | | Preferred Stock | | ** | | 594 | |
| | | Caris Life Sciences Series C Convertible | | Preferred Stock | | ** | | 214 | |
| | | Cava Group Series E Convertible | | Preferred Stock | | ** | | 658 | |
| | | Checkr, Inc. Series C Convertible Private Placement | | Preferred Stock | | ** | | 282 | |
| | | Checkr, Inc. Series D Convertible Private Placement | | Preferred Stock | | ** | | 440 | |
| | | Convoy Series C Convertible | | Preferred Stock | | ** | | 574 | |
| | | Convoy Series D Convertible | | Preferred Stock | | ** | | 397 | |
| | | Farmers Business Network | | Preferred Stock | | ** | | 992 | |
| | | Flexe Series C Convertible | | Preferred Stock | | ** | | 244 | |
| | | Haul Hun Series B Convertible | | Preferred Stock | | ** | | 144 | |
| | | Honor Technology Series D Convertible | | Preferred Stock | | ** | | 452 | |
| | | Jand Inc., DBA Warby Parker | | Preferred Stock | | ** | | 609 | |
| | | Jand Inc. DBA Warby Parker Series E Convertible | | Preferred Stock | | ** | | 507 | |
| | | National Resilience | | Preferred Stock | | ** | | 326 | |
| | | Nuro Series C Convertible | | Preferred Stock | | ** | | 353 | |
| | | Roofoods Limited (Deliveroo) Series G Convertible | | Preferred Stock | | ** | | 45 | |
| | | Roofoods Limited (Deliveroo) | | Preferred Stock | | ** | | 1,408 | |
| | | Seer Class A Common Lockup | | Preferred Stock | | ** | | 536 | |
| | | Seismic Software Series E Convertible | | Preferred Stock | | ** | | 424 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Seismic Software Series F Convertible | | Preferred Stock | | ** | | 33 | |
| | | Servicetitan, Inc., Series A-1 Convertible | | Preferred Stock | | ** | | 1 | |
| | | Servicetitan, Inc., Series D Convertible | | Preferred Stock | | ** | | 310 | |
| | | Toast Inc. Series B Convertible | | Preferred Stock | | ** | | 38 | |
| | | Toast Inc. Series D Convertible, Private Placement | | Preferred Stock | | ** | | 2,693 | |
| | | Toast Inc. Series F Convertible | | Preferred Stock | | ** | | 256 | |
| | | Xometry, Inc. Series A-2 Convertible | | Preferred Stock | | ** | | 40 | |
| | | Xometry, Inc. Series B Convertible | | Preferred Stock | | ** | | 14 | |
| | | Xometry, Inc. Series C Convertible | | Preferred Stock | | ** | | 14 | |
| | | Xometry, Inc. Series D Convertible | | Preferred Stock | | ** | | 11 | |
| | | Xometry, Inc. Series E Convertible | | Preferred Stock | | ** | | 114 | |
| | | Xometry, Inc. Series Seed-1 Convertible | | Preferred Stock | | ** | | 91 | |
| | | Collective US Govt. STIF 5 BPS | | Bond | | ** | | 1,187 | |
| | | * T. Rowe Price Treasury Reserve Fund | | Money Market Securities | | ** | | 4,259 | |
| | | Advatange Solutions Inc. | | Warrants | | ** | | 37 | |
| | | Grasshopper Bancorp WTS Inc. | | Warrants | | ** | | 11 | |
| | | UTZ Brands Inc. | | Warrants | | ** | | 201 | |
| | International Equity Portfolio: | | | | | | |
| | | AFLAC Inc. | | Common Stock | | ** | | 3,700 | |
| | | Mettler-Toledo International | | Common Stock | | ** | | 2,707 | |
| | | AAC Technologies H-Unsponsored ADR | | Foreign Stock | | ** | | 1,386 | |
| | | ABB LTD-Sponsored ADR | | Foreign Stock | | ** | | 2,345 | |
| | | Adecco Group AG-Reg.-Unsponsored ADR | | Foreign Stock | | ** | | 2,749 | |
| | | Air Liquide-Unsponsored ADR | | Foreign Stock | | ** | | 2,213 | |
| | | Allianz SE-Sponsored ADR | | Foreign Stock | | ** | | 3,354 | |
| | | Astellas Pharma Inc.-Unsponsored ADR | | Foreign Stock | | ** | | 2,612 | |
| | | AXA -Sponsored ADR | | Foreign Stock | | ** | | 3,799 | |
| | | Banco Bilbao Vizcaya-Sponsored ADR | | Foreign Stock | | ** | | 4,875 | |
| | | Bancolombia S.A.-Sponsored ADR | | Foreign Stock | | ** | | 3,588 | |
| | | BASF SE-Sponsored ADR | | Foreign Stock | | ** | | 2,083 | |
| | | BHP Group LTD-Sponsored ADR | | Foreign Stock | | ** | | 2,400 | |
| | | BNP Paribas-ADR | | Foreign Stock | | ** | | 3,878 | |
| | | British American Tobacco-Sponsored ADR | | Foreign Stock | | ** | | 3,393 | |
| | | Coca-Cola HBC AG-Unsponsored ADR | | Foreign Stock | | ** | | 3,187 | |
| | | Compass Group PLC-Sponsored ADR | | Foreign Stock | | ** | | 2,984 | |
| | | Continental AG-Sponsored ADR | | Foreign Stock | | ** | | 2,531 | |
| | | Credicorp Ltd. | | Foreign Stock | | ** | | 2,435 | |
| | | CSL LTD-Sponsored ADR | | Foreign Stock | | ** | | 2,371 | |
| | | Dassault Systemes S-Sponsored ADR | | Foreign Stock | | ** | | 1,566 | |
| | | Diageo PLC-Sponsored ADR | | Foreign Stock | | ** | | 2,832 | |
| | | DNB ASA-Sponsored ADR | | Foreign Stock | | ** | | 3,712 | |
| | | Enbridge Inc. | | Foreign Stock | | ** | | 2,288 | |
| | | Fanuc Corp.-Unsponsored ADR | | Foreign Stock | | ** | | 1,618 | |
| | | Fresenius SE & Co.-Sponsored ADR | | Foreign Stock | | ** | | 2,826 | |
| | | Givaudan-Unsponsored ADR | | Foreign Stock | | ** | | 2,005 | |
| | | Grupo Fin Banorte-Sponsored ADR | | Foreign Stock | | ** | | 5,033 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Henkel KGaA-Sponsored ADR PFD | | Foreign Stock | | ** | | 2,737 | |
| | | Imperial Oil LTD | | Foreign Stock | | ** | | 3,049 | |
| | | JGC Corp.-Unsponsored ADR | | Foreign Stock | | ** | | 1,987 | |
| | | Kering-Unsponsored ADR | | Foreign Stock | | ** | | 2,315 | |
| | | Komatsu LTD -Sponsored ADR | | Foreign Stock | | ** | | 2,623 | |
| | | Kubota Corp.-Sponsored ADR | | Foreign Stock | | ** | | 2,619 | |
| | | L'oreal-Unsponsored ADR | | Foreign Stock | | ** | | 2,239 | |
| | | MTN Group LTD-Sponsored ADR | | Foreign Stock | | ** | | 3,094 | |
| | | Muenchener Rueck-Unsponsored ADR | | Foreign Stock | | ** | | 2,282 | |
| | | Nestle SA-Sponsored ADR | | Foreign Stock | | ** | | 2,399 | |
| | | Nitto Denko Corp.-Unsponsored ADR | | Foreign Stock | | ** | | 3,074 | |
| | | Novartis AG-Sponsored ADR | | Foreign Stock | | ** | | 2,470 | |
| | | Novo-Nordisk A/S-Sponsored ADR | | Foreign Stock | | ** | | 2,350 | |
| | | Orix-Sponsored ADR | | Foreign Stock | | ** | | 3,464 | |
| | | Pan Pacific International Holdings | | Foreign Stock | | ** | | 2,429 | |
| | | Prudential PLC-ADR | | Foreign Stock | | ** | | 3,598 | |
| | | Reckitt Benckiser-Sponsored ADR | | Foreign Stock | | ** | | 2,307 | |
| | | Roche Holdings LTD-Sponsored ADR | | Foreign Stock | | ** | | 2,281 | |
| | | Royal Dutch Shell-Sponsored ADR-B | | Foreign Stock | | ** | | 3,412 | |
| | | Ryanair Holdings PLC-Sponsored ADR | | Foreign Stock | | ** | | 2,709 | |
| | | Sandvik AB-Sponsored ADR | | Foreign Stock | | ** | | 2,980 | |
| | | SAP SE-Sponsored ADR | | Foreign Stock | | ** | | 2,143 | |
| | | Siemens AG-Sponsored ADR | | Foreign Stock | | ** | | 2,207 | |
| | | Singapore Telecommunication-ADR | | Foreign Stock | | ** | | 1,740 | |
| | | Sysmex Corp.-Unsponsored ADR | | Foreign Stock | | ** | | 2,050 | |
| | | Taiwan Semiconductor-Sponsored ADR | | Foreign Stock | | ** | | 3,368 | |
| | | Tokyo Electron LTD-Unsponsored ADR | | Foreign Stock | | ** | | 3,922 | |
| | | TotalEnergies SE | | Foreign Stock | | ** | | 2,626 | |
| | | United Overseas Bank-Sponsored ADR | | Foreign Stock | | ** | | 3,507 | |
| | | Volkswagen AG-Unsponsored ADR | | Foreign Stock | | ** | | 2,848 | |
| | | Walmart De Mexico-Sponsored ADR | | Foreign Stock | | ** | | 2,845 | |
| | | Woodside Petroleum-Sponsored ADR | | Foreign Stock | | ** | | 2,427 | |
| | | WPP PLC-Sponsored ADR | | Foreign Stock | | ** | | 2,735 | |
| | | Federated Government Obligations Fund | | Money Market Securities | | ** | | 2,892 | |
| | Large Cap Growth Portfolio: | | | | | | |
| | | Abiomed Inc. | | Common Stock | | ** | | 21,327 | |
| | | Activision Blizzard Inc. | | Common Stock | | ** | | 22,119 | |
| | | Adobe Inc. | | Common Stock | | ** | | 37,779 | |
| | | Align Technology Inc. | | Common Stock | | ** | | 31,361 | |
| | | Amazon.com Inc. | | Common Stock | | ** | | 42,677 | |
| | | Applied Materials Inc. | | Common Stock | | ** | | 22,315 | |
| | | Biomarin Pharmaceutical Inc | | Common Stock | | ** | | 8,905 | |
| | | Booking Holdings Inc. | | Common Stock | | ** | | 30,565 | |
| | | Bristol-Myers Squibb Co. | | Common Stock | | ** | | 23,504 | |
| | | Costar Group Inc. | | Common Stock | | ** | | 11,064 | |
| | | Edwards Lifesciences Corp. | | Common Stock | | ** | | 16,716 | |
| | | Estee Lauder Companies - Class A | | Common Stock | | ** | | 14,245 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Exact Sciences Corp. | | Common Stock | | ** | | 27,621 | |
| | | Facebook Inc.-Class A | | Common Stock | | ** | | 41,659 | |
| | | IDEXX Laboratories Inc. | | Common Stock | | ** | | 30,786 | |
| | | Illumina Inc. | | Common Stock | | ** | | 22,856 | |
| | | Intuit Inc. | | Common Stock | | ** | | 26,055 | |
| | | Match Group Inc. | | Common Stock | | ** | | 16,172 | |
| | | MSCI Inc. | | Common Stock | | ** | | 27,594 | |
| | | Nike Inc.- Class B | | Common Stock | | ** | | 36,530 | |
| | | Nvidia Corp. | | Common Stock | | ** | | 33,496 | |
| | | Paypal Holdings Inc. | | Common Stock | | ** | | 37,395 | |
| | | Roku Inc. | | Common Stock | | ** | | 8,905 | |
| | | Salesforce.com Inc. | | Common Stock | | ** | | 28,518 | |
| | | Sarepta Therapeutics Inc. | | Common Stock | | ** | | 15,013 | |
| | | Servicenow Inc. | | Common Stock | | ** | | 37,379 | |
| | | Sherwin-Williams Co. | | Common Stock | | ** | | 18,621 | |
| | | Splunk Inc. | | Common Stock | | ** | | 25,248 | |
| | | Square Inc.- Class A | | Common Stock | | ** | | 21,306 | |
| | | TJX Companies Inc. | | Common Stock | | ** | | 18,066 | |
| | | Uber Technologies Inc. | | Common Stock | | ** | | 17,478 | |
| | | UnitedHealth Group Inc. | | Common Stock | | ** | | 26,228 | |
| | | Visa Inc.- Class A Shares | | Common Stock | | ** | | 36,608 | |
| | | New Oriental Education - Sponsored ADR | | Foreign Stock | | ** | | 36,829 | |
| | | Trane Technologies PLC | | Foreign Stock | | ** | | 21,747 | |
| | | Dreyfus Treasury & Agency Cash Mgnt. # 521 | | Money Market Security | | ** | | 10,161 | |
| | Total separately managed accounts | | | | 3,354,012 | |
| Fully Benefit-Responsive Contracts: | | | | | | |
| | Capital Preservation Portfolio: | | | | | | |
| | | * T. Rowe Price Reserve Inv Fund | | Mutual and Trust Fund | | ** | | 64,290 | |
| | | * T. Rowe Price Short Term Common: | | | | | | |
| | | American General Life | | Mutual and Trust Fund | | ** | | 72,127 | |
| | | Mass Mutual SIC | | Mutual and Trust Fund | | ** | | 83,025 | |
| | | Prudential Building Block Trust | | Mutual and Trust Fund | | ** | | 82,128 | |
| | | State Street Building Block Trust | | Mutual and Trust Fund | | ** | | 61,971 | |
| | | Pacific Life Building Block Trust | | Mutual and Trust Fund | | ** | | 82,125 | |
| | | RBC Building Block Trust | | Mutual and Trust Fund | | ** | | 74,161 | |
| | | NY Life Bldg Block Trust | | Mutual and Trust Fund | | ** | | 83,011 | |
| | | Transamerica Building Block Trust | | Mutual and Trust Fund | | ** | | 76,322 | |
| | | Metropolitan Life | | Mutual and Trust Fund | | ** | | 62,776 | |
| | | * T. Rowe Price Int Term Common: | | | | | | |
| | | Mass Mutual SIC | | Mutual and Trust Fund | | ** | | 88,645 | |
| | | Prudential Building Block Trust | | Mutual and Trust Fund | | ** | | 87,687 | |
| | | State Street Building Block Trust | | Mutual and Trust Fund | | ** | | 114,011 | |
| | | Pacific Life Building Block Trust | | Mutual and Trust Fund | | ** | | 87,685 | |
| | | American General Life | | Mutual and Trust Fund | | ** | | 47,152 | |
| | | RBC Building Block Trust | | Mutual and Trust Fund | | ** | | 48,481 | |
| | | NY Life Bldg Block Trust | | Mutual and Trust Fund | | ** | | 88,631 | |
| | | Transamerica Building Block Trust | | Mutual and Trust Fund | | ** | | 49,894 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Metropolitan Life | | Mutual and Trust Fund | | ** | | 115,492 | |
| | | * T. Rowe Price Managed Bond: | | | | | | |
| | | Mass Mutual SIC | | Mutual and Trust Fund | | ** | | 9,055 | |
| | | Prudential Building Block Trust | | Mutual and Trust Fund | | ** | | 8,957 | |
| | | State Street Building Block Trust | | Mutual and Trust Fund | | ** | | 9,282 | |
| | | Pacific Life Building Block Trust | | Mutual and Trust Fund | | ** | | 8,956 | |
| | | American General Life | | Mutual and Trust Fund | | ** | | 6,291 | |
| | | RBC Building Block Trust | | Mutual and Trust Fund | | ** | | 6,469 | |
| | | NY Life Bldg Block Trust | | Mutual and Trust Fund | | ** | | 9,053 | |
| | | Transamerica Building Block Trust | | Mutual and Trust Fund | | ** | | 6,657 | |
| | | Metropolitan Life | | Mutual and Trust Fund | | ** | | 9,402 | |
| | Total Fully Benefit-Responsive Contracts | | | | 1,543,736 | |
| * Costco Wholesale Corporation | | Common stock | | ** | | 10,260,421 | |
| Total investments | | | | 23,304,872 | |
| | | | | | | | |
| * Participant loans | | Interest rates of 4.25% to 11.50% maturing through 2036 | | __ | | 469,416 | |
| Total | | | | $ | 23,774,288 | |
| _________________________ | | | | | | | | |
| * Indicates a party-in-interest | | | | | | | | |
| ** Information is not required as investments are participant directed |
See accompanying report of independent registered public accounting firm.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | | | | | | | | |
| | | COSTCO 401(k) RETIREMENT PLAN |
| | | |
| June 24, 2021 | | By: | /s/ PATRICK J. CALLANS |
| Date | | | Patrick J. Callans Executive Vice President Costco Wholesale Corporation |
