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, 2021
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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 |
|
| 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 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, 2021 and 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2021, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the year ended December 31, 2021, 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, 2021, 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 schedules, we evaluated whether the supplementary information, including its form and content, is presented in conformity with 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 schedules is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Moss Adams LLP
Seattle, Washington
June 28, 2022
We have served as the Plan’s auditor since 2020.
COSTCO 401(k) RETIREMENT PLAN
Statements of Net Assets Available for Benefits
December 31, 2021 and 2020
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | 2021 | | 2020 |
| Assets: | | | | | | | |
| Investments at fair value | $ | 28,855,019 | | | $ | 21,761,136 | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| Investments at contract value: | | | |
| | Fully benefit-responsive investment contracts | 1,618,026 | | | 1,543,736 | |
| | | | | Total investments | 30,473,045 | | | 23,304,872 | |
| Receivables: | | | | |
| | Notes receivable from participants | 472,585 | | | 469,416 | |
| | | | | |
| | Employer contributions | 442,793 | | | 417,147 | |
| | | | | Total receivables | 915,378 | | | 886,563 | |
| Non-interest bearing cash | 2,119 | | | 1,770 | |
| Net assets available for benefits | $ | 31,390,542 | | | $ | 24,193,205 | |
See accompanying notes to financial statements.
COSTCO 401(k) RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | |
| 2021 |
| Net investment income: | |
| Net appreciation of investments | $ | 6,825,482 | |
| Interest | 32,359 | |
| Dividends | 191,239 | |
| | Total net investment income | 7,049,080 | |
| Interest on notes receivable from participants | 26,351 | |
| Contributions to the Plan: | |
| Employee | 899,157 | |
| Employer | 518,693 | |
| | Total contributions | 1,417,850 | |
| Distributions to participants and other | (1,295,944) | |
| | Net increase in net assets available for benefits | 7,197,337 | |
| Net assets available for benefits, beginning of year | 24,193,205 | |
| Net assets available for benefits, end of year | $ | 31,390,542 | |
See accompanying notes to financial statements.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements
December 31, 2021 and 2020
(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) 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 $6.1 million for the year ended December 31, 2021, and was deposited into the Plan and allocated to participant accounts in March 2022.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2021 and 2020
(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 one year of service (12 consecutive months) 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 $436.7 million for the year ended December 31, 2021, and was deposited into the Plan and allocated to participant accounts in March 2022.
(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 2021. There were no unallocated forfeitures as of December 31, 2021 and 2020, 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, 2021 and 2020
(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, 2021, interest rates on loans outstanding ranged from 4.25% to 10.25%, with various maturities through December 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 transaction fees, are paid by the Plan, subject to subparagraph (e) above. All other administrative expenses are paid by the Company.
(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, 2021 and 2020
(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, 2021 and 2020
(f) 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.
The Plan was amended on January 1, 2021, to increase the automatic enrollment contribution rate for employees who become eligible for salary deferral contributions after March 31, 2022.
(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 stock.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2021 and 2020
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, 2021 and 2020.
| | | | | | | | | | | |
| December 31, 2021: | Level 1
(in 000's) | | | | | | |
| Investments, at fair value: | | | | | | | |
| Costco Wholesale Corporation common stock | $ | 14,917,808 | | | | | | | |
| Common commingled trust funds | 7,798,371 | | | | | | | |
| Separately managed accounts | 3,810,457 | | | | | | | |
| Registered investment company funds | 2,328,383 | | | | | | | |
| Total investments in fair value hierarchy | $ | 28,855,019 | | | | | | | |
| | | | | | | | | | | |
| 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 | | | | | | | |
(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 moved to dismiss. On March 17, 2022, the court granted preliminary approval of a class-wide settlement, under which the defendants will pay an immaterial amount. A hearing to consider final approval of the settlement is scheduled for July 18, 2022.
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2021 and 2020
(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 restated and 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, 2021, 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, 2021 and 2020, the Plan held 26,278,000 and 27,232,000 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, 2021
(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 | | ** | | $ | 547,469 | |
| | PIMCO | | Income Institutional | | ** | | 502,063 | |
| | * T. Rowe Price | | Retirement Balanced Trust J | | ** | | 30,159 | |
| | * T. Rowe Price | | TRP Ret 2005 Active Trust J | | ** | | 22,933 | |
| | * T. Rowe Price | | TRP Ret 2010 Active Trust J | | ** | | 45,861 | |
| | * T. Rowe Price | | TRP Ret 2015 Active Trust J | | ** | | 143,975 | |
| | * T. Rowe Price | | TRP Ret 2020 Active Trust J | | ** | | 448,376 | |
| | * T. Rowe Price | | TRP Ret 2025 Active Trust J | | ** | | 849,449 | |
| | * T. Rowe Price | | TRP Ret 2030 Active Trust J | | ** | | 1,020,009 | |
| | * T. Rowe Price | | TRP Ret 2035 Active Trust J | | ** | | 923,195 | |
| | * T. Rowe Price | | TRP Ret 2040 Active Trust J | | ** | | 1,074,521 | |
| | * T. Rowe Price | | TRP Ret 2045 Active Trust J | | ** | | 1,212,660 | |
| | * T. Rowe Price | | TRP Ret 2050 Active Trust J | | ** | | 779,604 | |
| | * T. Rowe Price | | TRP Ret 2055 Active Trust J | | ** | | 902,502 | |
| | * T. Rowe Price | | TRP Ret 2060 Active Trust J | | ** | | 327,092 | |
| | * T. Rowe Price | | TRP Ret 2065 Active Trust J | | ** | | 16,220 | |
| | * T. Rowe Price | | TRP Ret 2020 Active Trust-Income J | | ** | | 1,815 | |
| | Vanguard | | Extended Market Index Institutional | | ** | | 63,219 | |
| | Vanguard | | Total International Stock Index Institutional | | ** | | 58,598 | |
| | Vanguard | | Total Bond Market Index Fund Institutional | | ** | | 133,051 | |
| | Vanguard | | Institutional Index, Plus | | ** | | 1,023,983 | |
| | Total registered investment company and common commingled trust funds | | | | 10,126,754 | |
| Separately managed accounts: | | | | | | | | |
| | Mid-Cap Growth Portfolio: | | | | | | |
| | | Acadia Healthcare Co. Inc. | | Common Stock | | ** | | 13,157 | |
| | | Agilent Technologies Inc. | | Common Stock | | ** | | 29,826 | |
| | | Agilon Health Inc. | | Common Stock | | ** | | 1,518 | |
| | | Alnylam Pharmaceuticals Inc. | | Common Stock | | ** | | 10,977 | |
| | | Ameren Corporation | | Common Stock | | ** | | 372 | |
| | | Amphenol Corp - Class A | | Common Stock | | ** | | 10,139 | |
| | | Assurant Inc. | | Common Stock | | ** | | 12,831 | |
| | | Avantor Inc. | | Common Stock | | ** | | 25,396 | |
| | | Avery Dennison Corp. | | Common Stock | | ** | | 15,245 | |
| | | Ball Corp. | | Common Stock | | ** | | 37,426 | |
| | | Bath & Body Works Inc. | | Common Stock | | ** | | 5,121 | |
| | | Bill.Com Holdings Inc. | | Common Stock | | ** | | 5,574 | |
| | | Black Knight Inc. | | Common Stock | | ** | | 12,956 | |
| | | Boston Beer Company Inc - Class A | | Common Stock | | ** | | 6,750 | |
| | | Bright Horizons Family Solutions Inc. | | Common Stock | | ** | | 5,795 | |
| | | Broadridge Financial Solutions, Inc. | | Common Stock | | ** | | 4,690 | |
| | | Bruker Corp. | | Common Stock | | ** | | 25,989 | |
| | | Burlington Stores Inc. | | Common Stock | | ** | | 25,013 | |
| | | Bwx Technologies Inc. | | Common Stock | | ** | | 8,450 | |
| | | Casey's General Stores Inc. | | Common Stock | | ** | | 16,581 | |
| | | Catalent Inc. | | Common Stock | | ** | | 39,029 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Cboe Global Markets Inc. | | Common Stock | | ** | | 10,774 | |
| | | CCC Intelligent Solutions Holdings Inc. | | Common Stock | | ** | | 2,641 | |
| | | Ceridian Hcm Holding Inc. | | Common Stock | | ** | | 17,096 | |
| | | Chipotle Mexican Grill Inc. | | Common Stock | | ** | | 14,427 | |
| | | Citrix Systems Inc. | | Common Stock | | ** | | 8,417 | |
| | | Clear Secure Inc. - Class A | | Common Stock | | ** | | 776 | |
| | | Cognex Corp. | | Common Stock | | ** | | 4,059 | |
| | | Colfax Corp. | | Common Stock | | ** | | 17,371 | |
| | | Cooper Cos Inc/The | | Common Stock | | ** | | 21,993 | |
| | | Corning Inc. | | Common Stock | | ** | | 11,831 | |
| | | Costar Group Inc. | | Common Stock | | ** | | 13,295 | |
| | | Crowdstrike Holdings Inc. - Class A | | Common Stock | | ** | | 7,532 | |
| | | Databricks Inc., Series G Convertible Stock | | Common Stock | | ** | | 580 | |
| | | Deckers Outdoor Corp. | | Common Stock | | ** | | 4,006 | |
| | | Dentsply Sirona Inc. | | Common Stock | | ** | | 4,121 | |
| | | Docusign Inc. | | Common Stock | | ** | | 11,706 | |
| | | Dollar General Corp. | | Common Stock | | ** | | 19,814 | |
| | | Dollar Tree Inc. | | Common Stock | | ** | | 12,449 | |
| | | Domino's Pizza Inc. | | Common Stock | | ** | | 11,615 | |
| | | Doordash Inc. - Class A | | Common Stock | | ** | | 2,176 | |
| | | Doximity Inc. - Class A | | Common Stock | | ** | | 2,223 | |
| | | Draftkings Inc. - Class A | | Common Stock | | ** | | 2,819 | |
| | | Elanco Animal Health Inc. | | Common Stock | | ** | | 7,325 | |
| | | Entegris Inc. | | Common Stock | | ** | | 17,582 | |
| | | Equifax Inc. | | Common Stock | | ** | | 15,283 | |
| | | Etsy Inc. | | Common Stock | | ** | | 10,645 | |
| | | Eversource Energy | | Common Stock | | ** | | 3,854 | |
| | | Exact Sciences Corp. | | Common Stock | | ** | | 4,837 | |
| | | Exelixis Inc. | | Common Stock | | ** | | 1,828 | |
| | | Exp World Holdings Inc. | | Common Stock | | ** | | 1,112 | |
| | | Five Below | | Common Stock | | ** | | 5,410 | |
| | | Fleetcor Technologies Inc. | | Common Stock | | ** | | 16,113 | |
| | | Fortinet Inc. | | Common Stock | | ** | | 19,118 | |
| | | Fortive Corp. | | Common Stock | | ** | | 14,837 | |
| | | Hashicorp Inc. - Class A | | Common Stock | | ** | | 232 | |
| | | Hilton Worldwide Holdings Inc. | | Common Stock | | ** | | 25,482 | |
| | | Hologic Inc. | | Common Stock | | ** | | 42,316 | |
| | | Hunt (Jb) Transprt Svcs Inc. | | Common Stock | | ** | | 26,704 | |
| | | Iac/Interactivecorp | | Common Stock | | ** | | 6,797 | |
| | | Icu Medical Inc. | | Common Stock | | ** | | 9,109 | |
| | | Idex Corp. | | Common Stock | | ** | | 15,602 | |
| | | Incyte Corp. | | Common Stock | | ** | | 2,146 | |
| | | Ingersoll-Rand Inc. | | Common Stock | | ** | | 35,347 | |
| | | Ionis Pharmaceuticals Inc. | | Common Stock | | ** | | 4,871 | |
| | | Kemper Corp | | Common Stock | | ** | | 3,221 | |
| | | Keysight Technologies Inc. | | Common Stock | | ** | | 23,448 | |
| | | KKR & Co Inc. | | Common Stock | | ** | | 21,429 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | KLA Corp. | | Common Stock | | ** | | 23,007 | |
| | | Kodiak Sciences Inc. | | Common Stock | | ** | | 1,205 | |
| | | Lattice Semiconductor Corp. | | Common Stock | | ** | | 3,616 | |
| | | Legalzoomcom Inc. | | Common Stock | | ** | | 184 | |
| | | Leidos Holdings Inc. | | Common Stock | | ** | | 4,163 | |
| | | Liberty Media Corp. - Series C | | Common Stock | | ** | | 11,601 | |
| | | Littelfuse Inc. | | Common Stock | | ** | | 2,659 | |
| | | Lululemon Athletica Inc. | | Common Stock | | ** | | 3,230 | |
| | | Maplebear Dba Instacart | | Common Stock | | ** | | 330 | |
| | | Marketaxess Holdings Inc. | | Common Stock | | ** | | 7,810 | |
| | | Martin Marietta Materials | | Common Stock | | ** | | 9,639 | |
| | | Marvell Technology Inc. | | Common Stock | | ** | | 38,459 | |
| | | Match Group Inc. | | Common Stock | | ** | | 5,615 | |
| | | MGM Resorts International | | Common Stock | | ** | | 12,307 | |
| | | Microchip Technology Inc. | | Common Stock | | ** | | 40,441 | |
| | | Molina Healthcare Inc. | | Common Stock | | ** | | 6,863 | |
| | | Multiplan Corp. | | Common Stock | | ** | | 2,815 | |
| | | National Instruments Corp. | | Common Stock | | ** | | 11,194 | |
| | | Ncino Inc. | | Common Stock | | ** | | 2,149 | |
| | | Neurocrine Biosciences Inc. | | Common Stock | | ** | | 5,352 | |
| | | O'Reilly Automotive Inc. | | Common Stock | | ** | | 12,358 | |
| | | Olaplex Holdings Inc. | | Common Stock | | ** | | 2,337 | |
| | | Packaging Corp Of America | | Common Stock | | ** | | 2,274 | |
| | | Peloton Interactive Inc - Class A | | Common Stock | | ** | | 1,626 | |
| | | Playtika Holding Corp. | | Common Stock | | ** | | 2,309 | |
| | | Procore Technologies Inc. | | Common Stock | | ** | | 1,276 | |
| | | PTC Inc. | | Common Stock | | ** | | 8,938 | |
| | | Quidel Corp. | | Common Stock | | ** | | 9,932 | |
| | | Raymond James Financial Inc. | | Common Stock | | ** | | 4,702 | |
| | | Reynolds Consumer Products Inc. | | Common Stock | | ** | | 5,267 | |
| | | Rivian Automotive Inc - Class A | | Common Stock | | ** | | 3,989 | |
| | | Roper Technologies Inc. | | Common Stock | | ** | | 13,498 | |
| | | Ross Stores Inc. | | Common Stock | | ** | | 8,454 | |
| | | RPM International Inc. | | Common Stock | | ** | | 9,791 | |
| | | Seagen Inc. | | Common Stock | | ** | | 11,083 | |
| | | Sealed Air Corp. | | Common Stock | | ** | | 15,188 | |
| | | Sentinelone Inc - Class A | | Common Stock | | ** | | 1,898 | |
| | | Shoals Technologies Group - Class A | | Common Stock | | ** | | 2,283 | |
| | | Skyworks Solutions Inc. | | Common Stock | | ** | | 11,214 | |
| | | Sofi Technologies Inc. | | Common Stock | | ** | | 4,796 | |
| | | Southwest Airlines Co. | | Common Stock | | ** | | 12,723 | |
| | | Teleflex Inc. | | Common Stock | | ** | | 29,639 | |
| | | Terminix Global Holdings Inc. | | Common Stock | | ** | | 11,427 | |
| | | Textron Inc. | | Common Stock | | ** | | 37,657 | |
| | | Thoughtworks Holding Inc. | | Common Stock | | ** | | 1,179 | |
| | | Toast Inc. - Class A | | Common Stock | | ** | | 187 | |
| | | Trade Desk Inc/The - Class A | | Common Stock | | ** | | 4,938 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Tradeweb Markets Inc. - Class A | | Common Stock | | ** | | 18,022 | |
| | | Transunion | | Common Stock | | ** | | 20,684 | |
| | | Treehouse Foods Inc. | | Common Stock | | ** | | 5,912 | |
| | | Ultragenyx Pharmaceutical Inc. | | Common Stock | | ** | | 3,486 | |
| | | Upwork Inc. | | Common Stock | | ** | | 2,045 | |
| | | Vail Resorts Inc. | | Common Stock | | ** | | 11,443 | |
| | | Veeva Systems Inc. - Class A | | Common Stock | | ** | | 15,673 | |
| | | Venture Global Lng, Inc., Series B Private Placement | | Common Stock | | ** | | 260 | |
| | | Venture Global Lng, Inc., Series C Private Placement | | Common Stock | | ** | | 1,727 | |
| | | Verisk Analytics Inc. | | Common Stock | | ** | | 8,278 | |
| | | Vf Corp. | | Common Stock | | ** | | 3,757 | |
| | | Vimeo Inc. | | Common Stock | | ** | | 2,850 | |
| | | Warby Parker Inc. - Class A | | Common Stock | | ** | | 577 | |
| | | Webster Financial Corp. | | Common Stock | | ** | | 5,924 | |
| | | West Pharmaceutical Services | | Common Stock | | ** | | 15,884 | |
| | | Zynga Inc - Class A | | Common Stock | | ** | | 5,350 | |
| | | Alcon Inc | | Foreign Stock | | ** | | 11,616 | |
| | | Alkermes Plc | | Foreign Stock | | ** | | 6,621 | |
| | | Aptiv Plc | | Foreign Stock | | ** | | 5,265 | |
| | | Ardagh Metal Packaging Sa | | Foreign Stock | | ** | | 1,792 | |
| | | Argenx Se - Adr | | Foreign Stock | | ** | | 9,227 | |
| | | Atlassian Corp Plc - Class A | | Foreign Stock | | ** | | 8,075 | |
| | | Axis Capital Holdings Ltd | | Foreign Stock | | ** | | 8,183 | |
| | | Clarivate Plc | | Foreign Stock | | ** | | 16,681 | |
| | | Deliveroo Plc | | Foreign Stock | | ** | | 652 | |
| | | Farfetch Ltd - Class A | | Foreign Stock | | ** | | 3,603 | |
| | | Kirkland Lake Gold Ltd | | Foreign Stock | | ** | | 2,192 | |
| | | Ortho Clinical Diagnostics Holdings Plc | | Foreign Stock | | ** | | 5,519 | |
| | | On Holding Ag - Class A | | Foreign Stock | | ** | | 584 | |
| | | Perrigo Co Plc | | Foreign Stock | | ** | | 6,997 | |
| | | Spotify Technology Sa | | Foreign Stock | | ** | | 13,263 | |
| | | Waste Connections Inc. | | Foreign Stock | | ** | | 8,956 | |
| | | Caris Life Series D Convertible | | Preferred Stock | | ** | | 1,024 | |
| | | Databricks Series H Convertible | | Preferred Stock | | ** | | 793 | |
| | | Maplebear Dba Instacart Series E Convertible | | Preferred Stock | | ** | | 2,310 | |
| | | Nuro Series D Convertible | | Preferred Stock | | ** | | 706 | |
| | | Redwood Materials Series C Convertible | | Preferred Stock | | ** | | 759 | |
| | | Rivian Automotive, Inc. | | Preferred Stock | | ** | | 27,290 | |
| | | Sila Nanotechnologies Inc. Series F Convertible | | Preferred Stock | | ** | | 1,404 | |
| | | Collective Us Govt Stif 5 Bps | | Bond | | ** | | 994 | |
| | | * T. Rowe Price Treasury Reserve Fund | | Money Market Securities | | ** | | 37,728 | |
| | Large Cap Value Portfolio: | | | | | | |
| | | Abbott Laboratories | | Common Stock | | ** | | 897 | |
| | | Abbvie Inc. | | Common Stock | | ** | | 6,746 | |
| | | AES Corp. | | Common Stock | | ** | | 921 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Agilent Technologies Inc. | | Common Stock | | ** | | 4,604 | |
| | | Air Products & Chemicals Inc. | | Common Stock | | ** | | 1,619 | |
| | | Alexandria Real Estate Equities Inc. | | Common Stock | | ** | | 1,982 | |
| | | Alphabet Inc. - Class C | | Common Stock | | ** | | 24,355 | |
| | | American International Group | | Common Stock | | ** | | 12,458 | |
| | | Analog Devices Inc. | | Common Stock | | ** | | 2,179 | |
| | | Anthem Inc. | | Common Stock | | ** | | 6,398 | |
| | | Applied Materials Inc. | | Common Stock | | ** | | 4,074 | |
| | | Avery Dennison Corp. | | Common Stock | | ** | | 262 | |
| | | Bank Of America Corp. | | Common Stock | | ** | | 11,866 | |
| | | Becton Dickinson And Co. | | Common Stock | | ** | | 2,897 | |
| | | Booking Holdings Inc. | | Common Stock | | ** | | 2,336 | |
| | | Broadcom Inc. | | Common Stock | | ** | | 7,703 | |
| | | Camden Property Trust | | Common Stock | | ** | | 3,527 | |
| | | Centene Corp. | | Common Stock | | ** | | 5,695 | |
| | | Charter Communications Inc. - Class A | | Common Stock | | ** | | 1,639 | |
| | | Cigna Corp. | | Common Stock | | ** | | 1,752 | |
| | | Cms Energy Corp. | | Common Stock | | ** | | 512 | |
| | | Coca-Cola Co/The | | Common Stock | | ** | | 2,704 | |
| | | Cognizant Tech Solutions - Class A | | Common Stock | | ** | | 392 | |
| | | Comcast Corp. - Class A | | Common Stock | | ** | | 921 | |
| | | CSX Corp. | | Common Stock | | ** | | 5,376 | |
| | | Danaher Corp. | | Common Stock | | ** | | 11,575 | |
| | | Deere & Co. | | Common Stock | | ** | | 1,583 | |
| | | Dollar General Corp. | | Common Stock | | ** | | 2,486 | |
| | | Dominion Energy Inc. | | Common Stock | | ** | | 2,436 | |
| | | Elanco Animal Health Inc. | | Common Stock | | ** | | 1,333 | |
| | | Eli Lilly & Co. | | Common Stock | | ** | | 1,875 | |
| | | Entergy Corp. | | Common Stock | | ** | | 1,543 | |
| | | Equitable Holdings Inc. | | Common Stock | | ** | | 2,875 | |
| | | Equity Lifestyle Properties | | Common Stock | | ** | | 2,389 | |
| | | Eversource Energy | | Common Stock | | ** | | 1,157 | |
| | | Fortive Corp. | | Common Stock | | ** | | 2,388 | |
| | | General Electric Co. | | Common Stock | | ** | | 11,114 | |
| | | General Motors Co. | | Common Stock | | ** | | 2,552 | |
| | | Goldman Sachs Group Inc. | | Common Stock | | ** | | 909 | |
| | | Hartford Financial Services Group Inc. | | Common Stock | | ** | | 5,258 | |
| | | HCA Healthcare Inc. | | Common Stock | | ** | | 5,648 | |
| | | Hilton Worldwide Holdings Inc. | | Common Stock | | ** | | 5,137 | |
| | | Home Depot Inc. | | Common Stock | | ** | | 3,813 | |
| | | Honeywell International Inc. | | Common Stock | | ** | | 1,908 | |
| | | Hubbell Inc. | | Common Stock | | ** | | 3,082 | |
| | | International Flavors & Fragrances Inc. | | Common Stock | | ** | | 2,520 | |
| | | Jacobs Engineering Group Inc. | | Common Stock | | ** | | 2,043 | |
| | | Johnson & Johnson | | Common Stock | | ** | | 155 | |
| | | Keurig Dr Pepper Inc. | | Common Stock | | ** | | 2,647 | |
| | | Kimberly-Clark Corp. | | Common Stock | | ** | | 1,133 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | KLA Corp. | | Common Stock | | ** | | 3,109 | |
| | | Lam Research Corp. | | Common Stock | | ** | | 1,444 | |
| | | Marsh & McLennan Cos. | | Common Stock | | ** | | 1,288 | |
| | | Martin Marietta Materials | | Common Stock | | ** | | 2,256 | |
| | | Marriott International Inc. - Class A | | Common Stock | | ** | | 3,706 | |
| | | Mastercard Inc. - Class A | | Common Stock | | ** | | 938 | |
| | | Merck & Co. Inc. | | Common Stock | | ** | | 215 | |
| | | Metlife Inc. | | Common Stock | | ** | | 1,605 | |
| | | Microsoft Corp. | | Common Stock | | ** | | 20,966 | |
| | | Mondelez International Inc. - Class A | | Common Stock | | ** | | 2,563 | |
| | | Morgan Stanley | | Common Stock | | ** | | 4,807 | |
| | | Motorola Solutions Inc. | | Common Stock | | ** | | 1,829 | |
| | | Nextera Energy Inc. | | Common Stock | | ** | | 6,695 | |
| | | Nisource Inc. | | Common Stock | | ** | | 498 | |
| | | Norfolk Southern Corp. | | Common Stock | | ** | | 7,184 | |
| | | Packaging Corp Of America | | Common Stock | | ** | | 1,322 | |
| | | Perkinelmer Inc. | | Common Stock | | ** | | 2,669 | |
| | | PG&E Corp. | | Common Stock | | ** | | 1,837 | |
| | | Pnc Financial Services Group | | Common Stock | | ** | | 1,487 | |
| | | Prologis Inc. | | Common Stock | | ** | | 11,751 | |
| | | Qualcomm Inc. | | Common Stock | | ** | | 3,440 | |
| | | Republic Services Inc. | | Common Stock | | ** | | 4,978 | |
| | | Ross Stores Inc. | | Common Stock | | ** | | 975 | |
| | | Salesforce.com Inc. | | Common Stock | | ** | | 6,936 | |
| | | Schwab (Charles) Corp. | | Common Stock | | ** | | 8,328 | |
| | | Sempra Energy | | Common Stock | | ** | | 5,543 | |
| | | Sherwin-Williams Co/The | | Common Stock | | ** | | 5,863 | |
| | | Southern Co/The | | Common Stock | | ** | | 5,478 | |
| | | Starbucks Corp. | | Common Stock | | ** | | 1,031 | |
| | | State Street Corp. | | Common Stock | | ** | | 4,151 | |
| | | Stryker Corp. | | Common Stock | | ** | | 416 | |
| | | Thermo Fisher Scientific Inc. | | Common Stock | | ** | | 8,037 | |
| | | TJX Companies Inc. | | Common Stock | | ** | | 1,613 | |
| | | T-Mobile US Inc. | | Common Stock | | ** | | 2,293 | |
| | | Travelers Cos Inc/The | | Common Stock | | ** | | 4,084 | |
| | | Union Pacific Corp. | | Common Stock | | ** | | 4,429 | |
| | | United Parcel Service - Class B | | Common Stock | | ** | | 3,157 | |
| | | United Rentals Inc. | | Common Stock | | ** | | 1,629 | |
| | | UnitedHealth Group Inc. | | Common Stock | | ** | | 5,646 | |
| | | Vulcan Materials Co. | | Common Stock | | ** | | 1,237 | |
| | | Walmart Inc. | | Common Stock | | ** | | 4,035 | |
| | | Walt Disney Co/The | | Common Stock | | ** | | 9,402 | |
| | | Wells Fargo & Co. | | Common Stock | | ** | | 4,183 | |
| | | Welltower Inc. | | Common Stock | | ** | | 1,129 | |
| | | Westrock Co. | | Common Stock | | ** | | 4,394 | |
| | | Weyerhaeuser Co. | | Common Stock | | ** | | 1,131 | |
| | | Xcel Energy Inc. | | Common Stock | | ** | | 3,574 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Yum! Brands Inc. | | Common Stock | | ** | | 6,431 | |
| | | Accenture Plc - Class A | | Foreign Stock | | ** | | 3,121 | |
| | | Asml Holding NV - NY Reg. SHS | | Foreign Stock | | ** | | 2,617 | |
| | | Astrazeneca Plc - Sponsored ADR | | Foreign Stock | | ** | | 6,613 | |
| | | Bhp Group Ltd - Sponsored ADR | | Foreign Stock | | ** | | 1,578 | |
| | | Chubb Ltd. | | Foreign Stock | | ** | | 7,480 | |
| | | Linde PLC | | Foreign Stock | | ** | | 6,251 | |
| | | Medtronic PLC | | Foreign Stock | | ** | | 6,174 | |
| | | Siemens Ag - Reg | | Foreign Stock | | ** | | 3,295 | |
| | | Steris PLC | | Foreign Stock | | ** | | 831 | |
| | | AES Corp/The | | Preferred Stock | | ** | | 416 | |
| | | Southern Co. | | Preferred Stock | | ** | | 435 | |
| | | Collective Us Govt Stif 5 Bps | | Bond | | ** | | 1,004 | |
| | | * T. Rowe Price Government Reserve Fund | | Money Market Securities | | ** | | 1,030 | |
| | Small-Cap Core Portfolio: | | | | | | |
| | | 1Stdibs.Com Inc. | | Common Stock | | ** | | 100 | |
| | | Acadia Pharmaceuticals Inc. | | Common Stock | | ** | | 322 | |
| | | Accolade Inc. | | Common Stock | | ** | | 498 | |
| | | Adaptive Biotechnologies | | Common Stock | | ** | | 457 | |
| | | ADT Inc. | | Common Stock | | ** | | 1,894 | |
| | | Advantage Solutions Inc. | | Common Stock | | ** | | 420 | |
| | | Agios Pharmaceuticals Inc. | | Common Stock | | ** | | 785 | |
| | | Air Lease Corp. | | Common Stock | | ** | | 1,698 | |
| | | Alignment Healthcare Inc. | | Common Stock | | ** | | 1,184 | |
| | | Allbirds Inc. - Class A | | Common Stock | | ** | | 70 | |
| | | Amedisys Inc | | Common Stock | | ** | | 2,549 | |
| | | American Campus Communities | | Common Stock | | ** | | 3,416 | |
| | | Apellis Pharmaceuticals Inc. | | Common Stock | | ** | | 1,589 | |
| | | Arcutis Biotherapeutics Inc. | | Common Stock | | ** | | 124 | |
| | | Arvinas Inc. | | Common Stock | | ** | | 834 | |
| | | Assurant Inc. | | Common Stock | | ** | | 4,178 | |
| | | Atlantic Capital Bancshares | | Common Stock | | ** | | 1,107 | |
| | | Atricure Inc. | | Common Stock | | ** | | 2,116 | |
| | | Avidity Biosciences Inc. | | Common Stock | | ** | | 633 | |
| | | Azz Inc. | | Common Stock | | ** | | 3,304 | |
| | | Bankunited Inc. | | Common Stock | | ** | | 4,308 | |
| | | Bellring Brands Inc. - Class A | | Common Stock | | ** | | 1,125 | |
| | | Big Sky Growth Partners Inc. | | Common Stock | | ** | | 623 | |
| | | Bj's Restaurants Inc. | | Common Stock | | ** | | 2,088 | |
| | | Blue Foundry Bancorp | | Common Stock | | ** | | 348 | |
| | | Blueprint Medicines Corp. | | Common Stock | | ** | | 2,698 | |
| | | Booz Allen Hamilton Holdings | | Common Stock | | ** | | 2,694 | |
| | | Boston Beer Company Inc. - Class A | | Common Stock | | ** | | 6,480 | |
| | | Bright Horizons Family Solutions | | Common Stock | | ** | | 2,813 | |
| | | Brink's Co/The | | Common Stock | | ** | | 1,709 | |
| | | Bruker Corp. | | Common Stock | | ** | | 5,191 | |
| | | Bumble Inc. - Class A | | Common Stock | | ** | | 293 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Burlington Stores Inc. | | Common Stock | | ** | | 6,650 | |
| | | Cable One Inc. | | Common Stock | | ** | | 6,061 | |
| | | Cactus Inc. - Class A | | Common Stock | | ** | | 1,095 | |
| | | Cadre Holdings Inc. | | Common Stock | | ** | | 532 | |
| | | Cal-Maine Foods Inc. | | Common Stock | | ** | | 1,978 | |
| | | California Water Service Grp | | Common Stock | | ** | | 2,147 | |
| | | Capitol Federal Financial Inc. | | Common Stock | | ** | | 952 | |
| | | Catalent Inc. | | Common Stock | | ** | | 6,029 | |
| | | Cavco Industries Inc. | | Common Stock | | ** | | 1,975 | |
| | | Cboe Global Markets Inc. | | Common Stock | | ** | | 4,853 | |
| | | Cerevel Therapeutics Holding | | Common Stock | | ** | | 1,035 | |
| | | Ceridian Hcm Holding Inc. | | Common Stock | | ** | | 4,387 | |
| | | Certara Inc. | | Common Stock | | ** | | 423 | |
| | | Checkr Inc., Private Placement | | Common Stock | | ** | | 454 | |
| | | Chesapeake Utilities Corp. | | Common Stock | | ** | | 3,742 | |
| | | Chuy's Holdings Inc. | | Common Stock | | ** | | 1,625 | |
| | | Cinemark Holdings Inc. | | Common Stock | | ** | | 1,088 | |
| | | Clearwater Analytics Hds - Class A | | Common Stock | | ** | | 696 | |
| | | Community Healthcare Trust I | | Common Stock | | ** | | 1,315 | |
| | | Conyers Park III Acquisition | | Common Stock | | ** | | 609 | |
| | | Coupa Software Inc. | | Common Stock | | ** | | 1,419 | |
| | | Crossfirst Bankshares Inc. | | Common Stock | | ** | | 1,068 | |
| | | CSW Industrials Inc. | | Common Stock | | ** | | 961 | |
| | | CTS Corp. | | Common Stock | | ** | | 2,546 | |
| | | Cubesmart | | Common Stock | | ** | | 3,649 | |
| | | CVRX Inc. | | Common Stock | | ** | | 178 | |
| | | Definitive Healthcare Corp. | | Common Stock | | ** | | 343 | |
| | | Denny's Corp. | | Common Stock | | ** | | 1,237 | |
| | | Devon Energy Corp. | | Common Stock | | ** | | 3,181 | |
| | | Diamondback Energy Inc. | | Common Stock | | ** | | 4,546 | |
| | | Dime Community Bancshares Inc. | | Common Stock | | ** | | 1,795 | |
| | | Doubleverify Holdings Inc. | | Common Stock | | ** | | 1,797 | |
| | | Doximity Inc. - Class A | | Common Stock | | ** | | 483 | |
| | | Drive Shack Inc. | | Common Stock | | ** | | 191 | |
| | | Dutch Bros Inc. - Class A | | Common Stock | | ** | | 1,038 | |
| | | East West Bancorp Inc. | | Common Stock | | ** | | 3,807 | |
| | | Eastgroup Properties Inc. | | Common Stock | | ** | | 7,846 | |
| | | Element Solutions Inc. | | Common Stock | | ** | | 6,164 | |
| | | Encore Capital Group Inc. | | Common Stock | | ** | | 1,748 | |
| | | Enerpac Tool Group Corp. | | Common Stock | | ** | | 2,413 | |
| | | Entegris Inc. | | Common Stock | | ** | | 7,200 | |
| | | Equity Bancshares Inc. - Class A | | Common Stock | | ** | | 1,259 | |
| | | Esco Technologies Inc. | | Common Stock | | ** | | 3,163 | |
| | | Euronet Worldwide Inc. | | Common Stock | | ** | | 2,288 | |
| | | FB Financial Corp. | | Common Stock | | ** | | 2,538 | |
| | | Federal Signal Corp. | | Common Stock | | ** | | 2,125 | |
| | | Fiesta Restaurant Group | | Common Stock | | ** | | 1,268 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | First Bancshares Inc/Ms | | Common Stock | | ** | | 1,635 | |
| | | First Industrial Realty Trust Inc. | | Common Stock | | ** | | 1,958 | |
| | | Five Below | | Common Stock | | ** | | 1,010 | |
| | | Five9 Inc. | | Common Stock | | ** | | 2,389 | |
| | | Five Star Bancorp | | Common Stock | | ** | | 819 | |
| | | Flame Biosciences, Inc., Private Placement | | Common Stock | | ** | | 108 | |
| | | Forgerock Inc. - Class A | | Common Stock | | ** | | 316 | |
| | | G1 Therapeutics Inc. | | Common Stock | | ** | | 147 | |
| | | Generation Bio Co. | | Common Stock | | ** | | 418 | |
| | | Gentherm Inc. | | Common Stock | | ** | | 2,057 | |
| | | Gibraltar Industries Inc. | | Common Stock | | ** | | 3,151 | |
| | | Global Blood Therapeutics Inc. | | Common Stock | | ** | | 1,176 | |
| | | Grab Holdings Limited Private Placement | | Common Stock | | ** | | 438 | |
| | | Graco Inc. | | Common Stock | | ** | | 3,229 | |
| | | Halliburton Co. | | Common Stock | | ** | | 2,266 | |
| | | Hanger Inc. | | Common Stock | | ** | | 1,693 | |
| | | Hanover Insurance Group Inc. | | Common Stock | | ** | | 2,824 | |
| | | Haynes International Inc. | | Common Stock | | ** | | 1,434 | |
| | | Helios Technologies Inc. | | Common Stock | | ** | | 3,265 | |
| | | Heritage Commerce Corp. | | Common Stock | | ** | | 1,726 | |
| | | Heritage Financial Corp. | | Common Stock | | ** | | 857 | |
| | | Heritage-Crystal Clean Inc. | | Common Stock | | ** | | 1,320 | |
| | | Home Bancshares Inc. | | Common Stock | | ** | | 2,653 | |
| | | Homology Medicines Inc. | | Common Stock | | ** | | 79 | |
| | | Huron Consulting Group Inc. | | Common Stock | | ** | | 964 | |
| | | Icosavax Inc. | | Common Stock | | ** | | 407 | |
| | | Icu Medical Inc. | | Common Stock | | ** | | 3,316 | |
| | | Idacorp Inc. | | Common Stock | | ** | | 3,141 | |
| | | Igm Biosciences Inc. | | Common Stock | | ** | | 347 | |
| | | Inari Medical Inc. | | Common Stock | | ** | | 2,122 | |
| | | Infinera Corp. | | Common Stock | | ** | | 314 | |
| | | Ingersoll-Rand Inc. | | Common Stock | | ** | | 5,599 | |
| | | Insmed Inc. | | Common Stock | | ** | | 2,872 | |
| | | Intellia Therapeutics Inc. | | Common Stock | | ** | | 1,557 | |
| | | Iovance Biotherapeutics Inc. | | Common Stock | | ** | | 162 | |
| | | JBG Smith Properties | | Common Stock | | ** | | 2,152 | |
| | | John Bean Technologies Corp. | | Common Stock | | ** | | 4,795 | |
| | | Karuna Therapeutics Inc. | | Common Stock | | ** | | 740 | |
| | | KKR Acquisition Holdings I Corp. | | Common Stock | | ** | | 968 | |
| | | Knight-Swift Transportation | | Common Stock | | ** | | 2,586 | |
| | | Kodiak Sciences Inc. | | Common Stock | | ** | | 2,898 | |
| | | Kratos Defense & Security | | Common Stock | | ** | | 1,265 | |
| | | Kymera Therapeutics Inc. | | Common Stock | | ** | | 754 | |
| | | Landstar System Inc. | | Common Stock | | ** | | 1,908 | |
| | | Lattice Semiconductor Corp. | | Common Stock | | ** | | 8,505 | |
| | | Legalzoomcom Inc. | | Common Stock | | ** | | 764 | |
| | | Liberty Oilfield Services - Class A | | Common Stock | | ** | | 1,660 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Littelfuse Inc. | | Common Stock | | ** | | 3,558 | |
| | | Live Oak Bancshares Inc. | | Common Stock | | ** | | 4,441 | |
| | | Magnolia Oil & Gas Corp - Class A | | Common Stock | | ** | | 3,707 | |
| | | Manhattan Associates Inc. | | Common Stock | | ** | | 1,907 | |
| | | Matson Inc. | | Common Stock | | ** | | 2,789 | |
| | | Meritor Inc. | | Common Stock | | ** | | 2,212 | |
| | | MGE Energy Inc. | | Common Stock | | ** | | 1,074 | |
| | | Middlesex Water Co. | | Common Stock | | ** | | 2,001 | |
| | | Minerals Technologies Inc. | | Common Stock | | ** | | 2,247 | |
| | | Modivcare Inc. | | Common Stock | | ** | | 2,297 | |
| | | Molina Healthcare Inc. | | Common Stock | | ** | | 7,907 | |
| | | Monro Inc. | | Common Stock | | ** | | 3,211 | |
| | | Monte Rosa Therapeutics Inc. | | Common Stock | | ** | | 321 | |
| | | Morphic Holding Inc. | | Common Stock | | ** | | 97 | |
| | | MSA Safety Inc. | | Common Stock | | ** | | 1,864 | |
| | | Mueller Water Products Inc. - Class A | | Common Stock | | ** | | 2,174 | |
| | | National Instruments Corp. | | Common Stock | | ** | | 1,757 | |
| | | Ncino Inc. | | Common Stock | | ** | | 1,831 | |
| | | Nevro Corp. | | Common Stock | | ** | | 1,229 | |
| | | Nextera Energy Partners LP | | Common Stock | | ** | | 2,347 | |
| | | Nextier Oilfield Solutions Inc. | | Common Stock | | ** | | 934 | |
| | | Nkarta Inc. | | Common Stock | | ** | | 359 | |
| | | Northwestern Corp. | | Common Stock | | ** | | 921 | |
| | | Nuvasive Inc. | | Common Stock | | ** | | 1,087 | |
| | | Nurix Therapeutics Inc. | | Common Stock | | ** | | 272 | |
| | | Ollie's Bargain Outlet Holdings Inc. | | Common Stock | | ** | | 3,860 | |
| | | One Gas Inc. | | Common Stock | | ** | | 3,657 | |
| | | Option Care Health Inc. | | Common Stock | | ** | | 2,063 | |
| | | Origin Bancorp Inc. | | Common Stock | | ** | | 2,009 | |
| | | Outset Medical Inc. | | Common Stock | | ** | | 605 | |
| | | P10 Inc. - Class A | | Common Stock | | ** | | 916 | |
| | | Pacific Premier Bancorp Inc. | | Common Stock | | ** | | 2,484 | |
| | | Papa John's International Inc. | | Common Stock | | ** | | 6,846 | |
| | | Par Technology Corp/Del | | Common Stock | | ** | | 2,988 | |
| | | Parsons Corp. | | Common Stock | | ** | | 754 | |
| | | Paycom Software Inc. | | Common Stock | | ** | | 2,209 | |
| | | Paycor Hcm Inc. | | Common Stock | | ** | | 974 | |
| | | Payoneer Global Inc. | | Common Stock | | ** | | 1,568 | |
| | | Pennant Group Inc/The | | Common Stock | | ** | | 805 | |
| | | Pennymac Financial Services | | Common Stock | | ** | | 3,962 | |
| | | Penumbra Inc. | | Common Stock | | ** | | 1,845 | |
| | | Petco Health And Wellness Co. | | Common Stock | | ** | | 754 | |
| | | PGT Innovations Inc. | | Common Stock | | ** | | 638 | |
| | | Pinnacle Financial Partners | | Common Stock | | ** | | 4,712 | |
| | | Post Holdings Inc. | | Common Stock | | ** | | 3,445 | |
| | | Post Holdings Partnering Corp. | | Common Stock | | ** | | 444 | |
| | | PRA Group Inc. | | Common Stock | | ** | | 2,043 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Procept Biorobotics Corp. | | Common Stock | | ** | | 137 | |
| | | Privia Health Group Inc. | | Common Stock | | ** | | 694 | |
| | | Professional Holding Corp. - Class A | | Common Stock | | ** | | 418 | |
| | | Prog Holdings Inc. | | Common Stock | | ** | | 2,596 | |
| | | PS Business Parks Inc/Md | | Common Stock | | ** | | 4,784 | |
| | | PTC Therapeutics Inc. | | Common Stock | | ** | | 234 | |
| | | Quaker Chemical Corporation | | Common Stock | | ** | | 2,497 | |
| | | Quanterix Corp. | | Common Stock | | ** | | 382 | |
| | | Quidel Corp. | | Common Stock | | ** | | 3,308 | |
| | | Radius Health Inc. | | Common Stock | | ** | | 274 | |
| | | Ranpak Holdings Corp. | | Common Stock | | ** | | 916 | |
| | | Rapid Micro Biosystems Inc. - Class A | | Common Stock | | ** | | 438 | |
| | | Rapt Therapeutics Inc. | | Common Stock | | ** | | 990 | |
| | | Realreal Inc/The | | Common Stock | | ** | | 885 | |
| | | Reata Pharmaceuticals Inc. - Class A | | Common Stock | | ** | | 310 | |
| | | Red Robin Gourmet Burgers | | Common Stock | | ** | | 607 | |
| | | Red Rock Resorts Inc. - Class A | | Common Stock | | ** | | 794 | |
| | | Relay Therapeutics Inc. | | Common Stock | | ** | | 216 | |
| | | Rent The Runway Inc. - Class A | | Common Stock | | ** | | 163 | |
| | | Repay Holdings Corp. | | Common Stock | | ** | | 969 | |
| | | Replimune Group Inc. | | Common Stock | | ** | | 324 | |
| | | Rexford Industrial Realty Inc. | | Common Stock | | ** | | 4,732 | |
| | | RH | | Common Stock | | ** | | 1,258 | |
| | | Rover Group Earnout Shs 16.00 Pp | | Common Stock | | ** | | 3 | |
| | | Rover Group Inc., Private Placement | | Common Stock | | ** | | 333 | |
| | | Rush Enterprises Inc. - Class A | | Common Stock | | ** | | 2,059 | |
| | | Ruth's Hospitality Group Inc. | | Common Stock | | ** | | 1,083 | |
| | | Saia Inc. | | Common Stock | | ** | | 3,439 | |
| | | Sandy Spring Bancorp Inc. | | Common Stock | | ** | | 2,155 | |
| | | Scholar Rock Holding Corp. | | Common Stock | | ** | | 1,041 | |
| | | Seacoast Banking Corp/Fl | | Common Stock | | ** | | 2,624 | |
| | | Seagen Inc. | | Common Stock | | ** | | 1,697 | |
| | | Seer Inc. | | Common Stock | | ** | | 536 | |
| | | Selective Insurance Group | | Common Stock | | ** | | 4,831 | |
| | | Semtech Corp. | | Common Stock | | ** | | 1,319 | |
| | | Shoals Technologies Group - Class A | | Common Stock | | ** | | 1,381 | |
| | | Signature Bank | | Common Stock | | ** | | 6,790 | |
| | | Siteone Landscape Supply Inc. | | Common Stock | | ** | | 6,767 | |
| | | SJW Group | | Common Stock | | ** | | 2,262 | |
| | | Skechers Usa Inc. - Class A | | Common Stock | | ** | | 2,151 | |
| | | Skyline Champion Corp. | | Common Stock | | ** | | 3,808 | |
| | | Southstate Corp. | | Common Stock | | ** | | 2,510 | |
| | | Southwest Gas Holdings Inc. | | Common Stock | | ** | | 3,854 | |
| | | SPX Corp. | | Common Stock | | ** | | 2,898 | |
| | | SS&C Technologies Holdings | | Common Stock | | ** | | 5,465 | |
| | | Stericycle Inc. | | Common Stock | | ** | | 1,964 | |
| | | Stepstone Group Inc. - Class A | | Common Stock | | ** | | 2,796 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Stoneridge Inc. | | Common Stock | | ** | | 601 | |
| | | Sun Country Airlines Holdings Inc. | | Common Stock | | ** | | 623 | |
| | | Surgery Partners Inc. | | Common Stock | | ** | | 1,790 | |
| | | Sweetgreen Inc. - Class A | | Common Stock | | ** | | 484 | |
| | | Teledyne Technologies Inc. | | Common Stock | | ** | | 5,669 | |
| | | Tenaya Therapeutics Inc. | | Common Stock | | ** | | 119 | |
| | | Tetra Tech Inc. | | Common Stock | | ** | | 1,769 | |
| | | Themis Solutions Inc., Private Placement | | Common Stock | | ** | | 153 | |
| | | Themis Sol (Clio) Series E Convertible, PP | | Common Stock | | ** | | 437 | |
| | | Thermon Group Holdings Inc. | | Common Stock | | ** | | 496 | |
| | | Thredup Inc. - Class A | | Common Stock | | ** | | 447 | |
| | | Toast Inc. - Class A | | Common Stock | | ** | | 820 | |
| | | Toast Inc. Restricted Class B | | Common Stock | | ** | | 4,413 | |
| | | Toro Co. | | Common Stock | | ** | | 2,168 | |
| | | Treehouse Foods Inc. | | Common Stock | | ** | | 2,422 | |
| | | Turning Point Therapeutics Inc. | | Common Stock | | ** | | 918 | |
| | | U.S. Physical Therapy Inc. | | Common Stock | | ** | | 1,876 | |
| | | Ultragenyx Pharmaceutical Inc. | | Common Stock | | ** | | 3,099 | |
| | | Upwork Inc. | | Common Stock | | ** | | 2,718 | |
| | | Utz Brands Inc. | | Common Stock | | ** | | 1,736 | |
| | | Venture Global Lng, Inc., Series B | | Common Stock | | ** | | 95 | |
| | | Venture Global LNG, Inc., Series C | | Common Stock | | ** | | 1,245 | |
| | | Warby Parker Inc. - Class A | | Common Stock | | ** | | 4,052 | |
| | | Webster Financial Corp. | | Common Stock | | ** | | 2,411 | |
| | | Western Alliance Bancorp | | Common Stock | | ** | | 6,165 | |
| | | Workiva Inc | | Common Stock | | ** | | 2,593 | |
| | | Xencor Inc. | | Common Stock | | ** | | 1,602 | |
| | | Xometry Inc. - Class A | | Common Stock | | ** | | 1,729 | |
| | | Zentalis Pharmaceuticals Inc. | | Common Stock | | ** | | 1,085 | |
| | | Zynga Inc. - Class A | | Common Stock | | ** | | 1,396 | |
| | | Abcam PLC - Sponsored ADR | | Foreign Stock | | ** | | 722 | |
| | | Altus Group LTD | | Foreign Stock | | ** | | 912 | |
| | | Argenx SE - ADR | | Foreign Stock | | ** | | 5,565 | |
| | | Ascendis Pharma A/S - ADR | | Foreign Stock | | ** | | 3,403 | |
| | | Axis Capital Holdings LTD | | Foreign Stock | | ** | | 3,484 | |
| | | Bluescape Opportunities Acquisition Corp. | | Foreign Stock | | ** | | 734 | |
| | | Capri Holdings LTD | | Foreign Stock | | ** | | 3,344 | |
| | | Clarivate PLC | | Foreign Stock | | ** | | 4,232 | |
| | | Constellium Se | | Foreign Stock | | ** | | 3,315 | |
| | | Crispr Therapeutics AG | | Foreign Stock | | ** | | 312 | |
| | | Deliveroo PLC | | Foreign Stock | | ** | | 817 | |
| | | Dentalcorp Holdings LTD | | Foreign Stock | | ** | | 1,184 | |
| | | Descartes Systems Grp/The | | Foreign Stock | | ** | | 6,008 | |
| | | Ero Copper Corp. | | Foreign Stock | | ** | | 2,671 | |
| | | Essent Group LTD | | Foreign Stock | | ** | | 2,539 | |
| | | FirstService Corp. | | Foreign Stock | | ** | | 7,939 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Flagship Communities Real Estate Investment Trust | | Foreign Stock | | ** | | 403 | |
| | | Franco-Nevada Corp. | | Foreign Stock | | ** | | 1,568 | |
| | | Grab Holdings LTD - Class A | | Foreign Stock | | ** | | 413 | |
| | | Meiragtx Holdings PLC | | Foreign Stock | | ** | | 368 | |
| | | Nomad Foods LTD | | Foreign Stock | | ** | | 2,348 | |
| | | Novanta Inc. | | Foreign Stock | | ** | | 6,344 | |
| | | Northern Star Resources LTD | | Foreign Stock | | ** | | 2,658 | |
| | | Olink Holding Ab - ADR | | Foreign Stock | | ** | | 868 | |
| | | Popular Inc. | | Foreign Stock | | ** | | 2,059 | |
| | | Prothena Corp PLC | | Foreign Stock | | ** | | 2,420 | |
| | | Rentokil Initial PLC | | Foreign Stock | | ** | | 2,153 | |
| | | Repare Therapeutics Inc. | | Foreign Stock | | ** | | 443 | |
| | | Sophia Genetics SA | | Foreign Stock | | ** | | 346 | |
| | | Tricon Residential Inc. | | Foreign Stock | | ** | | 844 | |
| | | West Fraser Timber Co. Ltd. | | Foreign Stock | | ** | | 2,578 | |
| | | 1661 Inc D/B/A Goat Series F Convertible | | Preferred Stock | | ** | | 564 | |
| | | Abl Space Systems Series B Convertible | | Preferred Stock | | ** | | 456 | |
| | | Allbirds Inc. Restricted Class B | | Preferred Stock | | ** | | 703 | |
| | | Caris Life Series D Convertible | | Preferred Stock | | ** | | 420 | |
| | | Caris Life Sciences Series C Convertible | | Preferred Stock | | ** | | 628 | |
| | | Cava Group Series E Convertible | | Preferred Stock | | ** | | 2,027 | |
| | | Cava Group Series F Convertible | | Preferred Stock | | ** | | 1,039 | |
| | | Checkr, Inc., Series C Convertible Private Placement | | Preferred Stock | | ** | | 621 | |
| | | Checker Inc., Series D Convertible Private Placement | | Preferred Stock | | ** | | 970 | |
| | | Convoy Series C Convertible | | Preferred Stock | | ** | | 813 | |
| | | Convoy Series D Convertible | | Preferred Stock | | ** | | 563 | |
| | | Dogwood State Bank, Non-Voting, PP | | Preferred Stock | | ** | | 173 | |
| | | Dogwood State Bank, Voting, PP | | Preferred Stock | | ** | | 85 | |
| | | Farmers Business Network | | Preferred Stock | | ** | | 1,865 | |
| | | Flexe Seriers C Convertible | | Preferred Stock | | ** | | 266 | |
| | | Grasshopper Bancorp Voting, PP | | Preferred Stock | | ** | | 80 | |
| | | Haul Hub Ser B Convertible | | Preferred Stock | | ** | | 209 | |
| | | Honor Technology Series D Convertible | | Preferred Stock | | ** | | 593 | |
| | | Inscripta Series E Convertible | | Preferred Stock | | ** | | 298 | |
| | | Kardium Inc., Series D-6 Convertible | | Preferred Stock | | ** | | 259 | |
| | | National Resilience Series B Convertible | | Preferred Stock | | ** | | 1,060 | |
| | | National Resilence Series C Convertible | | Preferred Stock | | ** | | 612 | |
| | | Nuro Series C Convertible | | Preferred Stock | | ** | | 892 | |
| | | Nuro Series D Convertible | | Preferred Stock | | ** | | 283 | |
| | | Pax Labs - Class A | | Preferred Stock | | ** | | 169 | |
| | | Redwood Materials Series C Convertible | | Preferred Stock | | ** | | 371 | |
| | | Rivian Automotive, Inc. | | Preferred Stock | | ** | | 14,468 | |
| | | Securityscorecard Inc., Series E Convertible | | Preferred Stock | | ** | | 273 | |
| | | Seismic Software Series E Convertible | | Preferred Stock | | ** | | 696 | |
| | | Seismic Software Series F Convertible | | Preferred Stock | | ** | | 55 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Servicetitan Inc., PP | | Preferred Stock | | ** | | 134 | |
| | | Servicetitan Inc., Series A-1 Convertible | | Preferred Stock | | ** | | 2 | |
| | | Servicetitan, Inc., Series D Convertible | | Preferred Stock | | ** | | 948 | |
| | | Servicetitan Inc., Series F Convertible | | Preferred Stock | | ** | | 57 | |
| | | Sila Nanotechnologies, Inc., Series F Convertible | | Preferred Stock | | ** | | 467 | |
| | | Socure Series A Convertible | | Preferred Stock | | ** | | 128 | |
| | | Socure Series A-1 Convertible | | Preferred Stock | | ** | | 105 | |
| | | Socure Series B Convertible | | Preferred Stock | | ** | | 2 | |
| | | Socure Series E Convertible | | Preferred Stock | | ** | | 244 | |
| | | Socure Inc., PP | | Preferred Stock | | ** | | 106 | |
| | | Themis Sol (Clio) Series Aa Convertible | | Preferred Stock | | ** | | 35 | |
| | | Themis Sol (Clio) Series Ab Convertible | | Preferred Stock | | ** | | 3 | |
| | | Themis Sol (Clio) Series B Convertible | | Preferred Stock | | ** | | 4 | |
| | | Collective Us Govt Stif 5 Bps | | Bond | | ** | | 996 | |
| | | * T. Rowe Price Treasury Reserve Fund | | Money Market Securities | | ** | | 8,923 | |
| | | Canadian Dollar | | Other | | ** | | 10 | |
| | | Advantage Solutions Inc. | | Warrants | | ** | | 32 | |
| | | Dogwood State Bank | | Warrants | | ** | | 9 | |
| | | Grab Holdings Ltd Wts | | Warrants | | ** | | 20 | |
| | International Equity Portfolio: | | | | | | |
| | | Aflac Inc. | | Common Stock | | ** | | 4,474 | |
| | | Mettler-Toledo International | | Common Stock | | ** | | 3,598 | |
| | | AAC Technologies H - Unsponsored ADR | | Foreign Stock | | ** | | 1,308 | |
| | | ABB LTD - Sponsored ADR | | Foreign Stock | | ** | | 3,493 | |
| | | Adecco Group AG - Reg. - Unsponsored ADR | | Foreign Stock | | ** | | 3,021 | |
| | | Air Liquide - Unsponsored ADR | | Foreign Stock | | ** | | 3,113 | |
| | | Allianz SE - Unsponsored ADR | | Foreign Stock | | ** | | 4,402 | |
| | | Astellas Pharma Inc. - Unsponsored ADR | | Foreign Stock | | ** | | 3,318 | |
| | | AXA - Sponsored ADR | | Foreign Stock | | ** | | 4,550 | |
| | | Banco Bilbao Vizcaya - Sponsored ADR | | Foreign Stock | | ** | | 3,374 | |
| | | Bancolombia S.A. - Sponsored ADR | | Foreign Stock | | ** | | 3,137 | |
| | | BASF SE - Sponsored ADR | | Foreign Stock | | ** | | 2,809 | |
| | | BHP Group LTD - Sponsored ADR | | Foreign Stock | | ** | | 3,565 | |
| | | BNP Paribas - ADR | | Foreign Stock | | ** | | 4,043 | |
| | | Coca-Cola HBC AG - Unsponsored ADR | | Foreign Stock | | ** | | 3,392 | |
| | | Compass Group PLC - Sponsored ADR | | Foreign Stock | | ** | | 3,202 | |
| | | Continental AG - Sponsored ADR | | Foreign Stock | | ** | | 2,521 | |
| | | Credicorp LTD | | Foreign Stock | | ** | | 3,076 | |
| | | CSL LTD - Sponsored ADR | | Foreign Stock | | ** | | 2,919 | |
| | | Dassault Systemes S - Sponsored ADR | | Foreign Stock | | ** | | 2,023 | |
| | | Diageo PLC - Sponsored ADR | | Foreign Stock | | ** | | 3,688 | |
| | | DNB Bank ASA - Sponsored ADR | | Foreign Stock | | ** | | 3,700 | |
| | | Enbridge Inc. | | Foreign Stock | | ** | | 2,660 | |
| | | Fanuc Corp. - Unsponsored ADR | | Foreign Stock | | ** | | 2,179 | |
| | | Fresenius SE & Co. - Sponsored ADR | | Foreign Stock | | ** | | 2,709 | |
| | | Givaudan - Unsponsored ADR | | Foreign Stock | | ** | | 2,985 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Grupo Fin Banorte - Sponsored ADR | | Foreign Stock | | ** | | 4,107 | |
| | | Henkel KGAA - Sponsored ADR | | Foreign Stock | | ** | | 2,335 | |
| | | Imperial Oil LTD | | Foreign Stock | | ** | | 3,651 | |
| | | JGC Holdings Corp. - Unsponsored ADR | | Foreign Stock | | ** | | 3,547 | |
| | | Kering - Unsponsored ADR | | Foreign Stock | | ** | | 3,632 | |
| | | Komatsu LTD - Sponsored ADR | | Foreign Stock | | ** | | 2,704 | |
| | | Kubota Corp. - Sponsored ADR | | Foreign Stock | | ** | | 3,607 | |
| | | L'Oreal - Unsponsored ADR | | Foreign Stock | | ** | | 2,818 | |
| | | London Stock Exchange - Unsponsored ADR | | Foreign Stock | | ** | | 3,079 | |
| | | MTN Group LTD - Sponsored ADR | | Foreign Stock | | ** | | 3,928 | |
| | | Muenchener Rueck - Unsponsored ADR | | Foreign Stock | | ** | | 3,264 | |
| | | Nestle SA - Sponsored ADR | | Foreign Stock | | ** | | 3,705 | |
| | | Nitto Denko Corp. - Unsponsored ADR | | Foreign Stock | | ** | | 3,513 | |
| | | Novartis AG - Sponsored ADR | | Foreign Stock | | ** | | 3,268 | |
| | | Novo-Nordisk A/S - Sponsored ADR | | Foreign Stock | | ** | | 3,653 | |
| | | Orix - Sponsored ADR | | Foreign Stock | | ** | | 3,853 | |
| | | Pan Pacific Intern - Unsponsored ADR | | Foreign Stock | | ** | | 2,497 | |
| | | Reckitt Benckiser - Sponsored ADR | | Foreign Stock | | ** | | 4,143 | |
| | | Roche Holdings LTD - Sponsored ADR | | Foreign Stock | | ** | | 3,681 | |
| | | Ryanair Holdings PLC - Sponsored ADR | | Foreign Stock | | ** | | 2,435 | |
| | | Sandvik AB - Sponsored ADR | | Foreign Stock | | ** | | 3,793 | |
| | | Sap SE - Sponsored ADR | | Foreign Stock | | ** | | 3,107 | |
| | | Shell PLC - Sponsored ADR | | Foreign Stock | | ** | | 4,103 | |
| | | Siemens AG - Sponsored ADR | | Foreign Stock | | ** | | 2,882 | |
| | | Siemens Energy AG - Unsponsored ADR | | Foreign Stock | | ** | | 2,304 | |
| | | Singapore Telecommunication - ADR | | Foreign Stock | | ** | | 2,456 | |
| | | Sysmex Corp. - Unsponsored ADR | | Foreign Stock | | ** | | 2,616 | |
| | | Taiwan Semiconductor - Sponsored ADR | | Foreign Stock | | ** | | 3,203 | |
| | | Tokyo Electron LTD - Unsponsored ADR | | Foreign Stock | | ** | | 4,668 | |
| | | TotalEnergies SE - Sponsored ADR | | Foreign Stock | | ** | | 4,242 | |
| | | Vitesco Technologies - Sponsored ADR | | Foreign Stock | | ** | | 226 | |
| | | Volkswagen AG - Unsponsored ADR | | Foreign Stock | | ** | | 3,625 | |
| | | Walmart De Mexico - Sponsored ADR | | Foreign Stock | | ** | | 3,333 | |
| | | WPP PLC - Sponsored ADR | | Foreign Stock | | ** | | 3,618 | |
| | | Federated Government Obligations Fund | | Money Market Securities | | ** | | 5,703 | |
| | Large Cap Growth Portfolio: | | | | | | |
| | | Abiomed Inc. | | Common Stock | | ** | | 21,621 | |
| | | Adobe Inc. | | Common Stock | | ** | | 40,846 | |
| | | Align Technology Inc. | | Common Stock | | ** | | 28,909 | |
| | | Amazon.Com Inc. | | Common Stock | | ** | | 46,368 | |
| | | Biomarin Pharmaceutical Inc. | | Common Stock | | ** | | 29,329 | |
| | | Block Inc. | | Common Stock | | ** | | 18,443 | |
| | | Bloom Energy Corp. - Class A | | Common Stock | | ** | | 9,026 | |
| | | Booking Holdings Inc | | Common Stock | | ** | | 32,942 | |
| | | Chewy Inc. - Class A | | Common Stock | | ** | | 16,605 | |
| | | Costar Group Inc. | | Common Stock | | ** | | 25,524 | |
| | | Crowdstrike Holdings Inc. - Class A | | Common Stock | | ** | | 14,660 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) (b) Identity of issuer, borrower,
lessor, or similar party | | (c) Description of investment | | (d) Cost | | (e) Current value |
| | | Docusign Inc. | | Common Stock | | ** | | 16,015 | |
| | | Edwards Lifesciences Corp. | | Common Stock | | ** | | 22,329 | |
| | | Eli Lilly & Co. | | Common Stock | | ** | | 19,626 | |
| | | Enphase Energy Inc. | | Common Stock | | ** | | 17,063 | |
| | | Estee Lauder Companies - Class A | | Common Stock | | ** | | 25,413 | |
| | | Exact Sciences Corp. | | Common Stock | | ** | | 20,947 | |
| | | Illumina Inc. | | Common Stock | | ** | | 22,450 | |
| | | Intuit Inc. | | Common Stock | | ** | | 45,303 | |
| | | Match Group Inc. | | Common Stock | | ** | | 40,514 | |
| | | Meta Platforms Inc. - Class A | | Common Stock | | ** | | 47,137 | |
| | | Msci Inc. | | Common Stock | | ** | | 35,870 | |
| | | Nike Inc. - Class B | | Common Stock | | ** | | 43,825 | |
| | | Nvidia Corp. | | Common Stock | | ** | | 44,329 | |
| | | Paypal Holdings Inc. | | Common Stock | | ** | | 34,767 | |
| | | Quanta Services Inc. | | Common Stock | | ** | | 15,679 | |
| | | Ringcentral Inc. - Class A | | Common Stock | | ** | | 21,775 | |
| | | Salesforce.com Inc. | | Common Stock | | ** | | 31,269 | |
| | | Sarepta Therapeutics Inc. | | Common Stock | | ** | | 11,897 | |
| | | Servicenow Inc. | | Common Stock | | ** | | 47,151 | |
| | | TJX Companies Inc. | | Common Stock | | ** | | 24,488 | |
| | | Uber Technologies Inc. | | Common Stock | | ** | | 31,246 | |
| | | Visa Inc. - Class A | | Common Stock | | ** | | 44,982 | |
| | | Trane Technologies PLC | | Foreign Stock | | ** | | 29,294 | |
| | | Dreyfus Treasury & Agency Cash Mgnt # 521 | | Money Market Securities | | ** | | 5,427 | |
| | Total separately managed accounts | | | | 3,810,457 | |
| Fully Benefit-Responsive Contracts: | | | | | | |
| | Capital Preservation Portfolio: | | | | | | |
| | | * T. Rowe Price Reserve Inv Fund | | Mutual and Trust Fund | | ** | | 61,257 | |
| | | * T. Rowe Price Short Term Common: | | | | | | |
| | | American General Life | | Mutual and Trust Fund | | ** | | 73,500 | |
| | | Mass Mutual SIC | | Mutual and Trust Fund | | ** | | 88,373 | |
| | | Prudential Building Block Trust | | Mutual and Trust Fund | | ** | | 88,193 | |
| | | State Street Building Block Trust | | Mutual and Trust Fund | | ** | | 66,070 | |
| | | Pacific Life Building Block Trust | | Mutual and Trust Fund | | ** | | 88,189 | |
| | | RBC Building Block Trust | | Mutual and Trust Fund | | ** | | 75,741 | |
| | | NY Life Bldg Block Trust | | Mutual and Trust Fund | | ** | | 88,377 | |
| | | Transamerica Building Block Trust | | Mutual and Trust Fund | | ** | | 76,607 | |
| | | Metropolitan Life | | Mutual and Trust Fund | | ** | | 66,023 | |
| | | * T. Rowe Price Int Term Common: | | | | | | |
| | | American General Life | | Mutual and Trust Fund | | ** | | 48,049 | |
| | | Mass Mutual SIC | | Mutual and Trust Fund | | ** | | 94,356 | |
| | | Prudential Building Block Trust | | Mutual and Trust Fund | | ** | | 94,163 | |
| | | State Street Building Block Trust | | Mutual and Trust Fund | | ** | | 121,552 | |
| | | Pacific Life Building Block Trust | | Mutual and Trust Fund | | ** | | 94,160 | |
| | | RBC Building Block Trust | | Mutual and Trust Fund | | ** | | 49,514 | |
| | | NY Life Bldg Block Trust | | Mutual and Trust Fund | | ** | | 94,360 | |
| | | Transamerica Building Block Trust | | Mutual and Trust Fund | | ** | | 50,080 | |
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2021
(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 | | ** | | 121,466 | |
| | | * T. Rowe Price Managed Bond: | | | | | | |
| | | American General Life | | Mutual and Trust Fund | | ** | | 6,411 | |
| | | Mass Mutual SIC | | Mutual and Trust Fund | | ** | | 9,638 | |
| | | Prudential Building Block Trust | | Mutual and Trust Fund | | ** | | 9,618 | |
| | | State Street Building Block Trust | | Mutual and Trust Fund | | ** | | 9,896 | |
| | | Pacific Life Building Block Trust | | Mutual and Trust Fund | | ** | | 9,618 | |
| | | RBC Building Block Trust | | Mutual and Trust Fund | | ** | | 6,606 | |
| | | NY Life Bldg Block Trust | | Mutual and Trust Fund | | ** | | 9,638 | |
| | | Transamerica Building Block Trust | | Mutual and Trust Fund | | ** | | 6,682 | |
| | | Metropolitan Life | | Mutual and Trust Fund | | ** | | 9,889 | |
| | Total Fully Benefit-Responsive Contracts | | | | 1,618,026 | |
| * Costco Wholesale Corporation | | Common stock | | ** | | 14,917,808 | |
| Total investments | | | | 30,473,045 | |
| | | | | | | | |
| * Participant loans | | Interest rates of 4.25% to 10.25% maturing through 2036 | | __ | | 472,585 | |
| Total | | | | $ | 30,945,630 | |
| _________________________ | | | | | | | | |
| * 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 28, 2022 | | By: | /s/ PATRICK J. CALLANS |
| Date | | | Patrick J. Callans Executive Vice President Costco Wholesale Corporation |
