11-K 1 a201911-k.htm 11-K Document









UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
———————————————————
FORM 11-K
———————————————————
 
 
☒
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
                    
For the fiscal year ended December 31, 2019

☐
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
                    
For the transition period from ______ to _____

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:
 
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:

———————————————————
Costco Wholesale Corporation
———————————————————

999 Lake Drive
Issaquah, Washington 98027





COSTCO 401(k) RETIREMENT PLAN
Table of Contents
 
Page
Financial Statements:
 
Supplementary Information:
 
Exhibits:
 
 
 
 
 


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, 2019, the related statement of changes in net assets available for benefits for the year then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019, and the changes in net assets available for benefits for the year then ended, 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 audit. 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 audit 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 audit 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 audit 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 audit 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 audit provides a reasonable basis for our opinion.
Opinion on the Supplementary Information
The supplementary information included in Schedule H, line 4(a) – Schedule of Delinquent Participant Contributions for the year ending December 31, 2019 and Schedule H, line 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2019, 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 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 schedules is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Moss Adams LLP
Seattle, Washington
June 26, 2020
We have served as the Plan’s auditor since 2020.

1

Report of Independent Registered Public Accounting Firm

The Plan Participants and Benefits Committee
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, 2018, the related statement of changes in net assets available for benefits for the year then ended, and the related notes (collectively the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Plan as of December 31, 2018, and the changes in net assets available for benefits for the year then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audit. 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 audit 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. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit 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 audit provides a reasonable basis for our opinion.


/s/ KPMG LLP
We served as the Plan’s auditor from 2002 to 2020.
Seattle, Washington
June 21, 2019



2
COSTCO 401(k) RETIREMENT PLAN
Statements of Net Assets Available for Benefits
December 31, 2019 and 2018
(in thousands)


 
 
 
 
 
 
 
2019
 
2018
Assets:
 
 
 
 
 
 
 
 
Investments at fair value:
 
 
 
 
 
Costco Wholesale Corporation common stock
$
8,450,171

 
$
5,964,993

 
 
Common commingled trust funds
5,368,077

 
3,950,639

 
 
Separately managed accounts
2,815,472

 
2,117,458

 
 
Registered investment company funds
1,602,636

 
1,248,845

 
Investments at contract value:
 
 
 
 
 
Fully benefit-responsive investment contracts
1,381,266

 
1,291,658

 
 
 
 
 
Total investments
19,617,622

 
14,573,593

 
Receivables:
 
 
 
 
 
 
Notes receivable from participants
532,927

 
514,935

 
 
Employee contributions
—

 
28,787

 
 
Employer contributions
376,072

 
345,719

 
 
 
 
 
Total receivables
908,999

 
889,441

 
Non-interest bearing cash
1,437

 
1,282

Net assets available for benefits
$
20,528,058

 
$
15,464,316































See accompanying notes to financial statements.

3
COSTCO 401(k) RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2019
(in thousands)


 
2019
Net investment income:
 
 
Net appreciation of investments
$
4,551,262

 
Interest
32,611

 
Dividends
133,948

 
 
Total net investment income
4,717,821

Interest on notes receivable from participants
31,407

Contributions to the Plan:
 
 
Employee
665,730

 
Employer
442,080

 
 
Total contributions
1,107,810

Distributions to participants and other
(793,296
)
 
 
Net increase in net assets available for benefits
5,063,742

Net assets available for benefits, beginning of year
15,464,316

Net assets available for benefits, end of year
$
20,528,058

































See accompanying notes to financial statements.

4
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements
December 31, 2019 and 2018

(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% unless the employee elects otherwise. 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 this automatic increase.
(b)
Employer Contributions

Company contributions are invested in accordance with investment 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. 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 $6.3 million for the year ended December 31, 2019, and was paid in March 2020.





5
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2019 and 2018

(2)
Other eligible employment (not covered by the Teamsters Agreements)
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. 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 $369.8 million for the year ended December 31, 2019, and was paid in March 2020.
(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 2019. There were no unallocated forfeitures as of December 31, 2019 and 2018, 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 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.


6
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2019 and 2018

(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, 2019, interest rates on loans outstanding ranged from 4.25% to 11.50%, with various maturities through December 2034. 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.

(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.

7
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2019 and 2018

(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 the 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 or contract 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.

8
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2019 and 2018

(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 modifies 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 is currently assessing the impact of adoption.
(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. See below and Note 6.
The COVID-19 outbreak has resulted in widespread and continuing impacts on the global economy. Financial and credit markets have experienced and may continue to experience significant volatility and turmoil. This volatility and turmoil may impact the fair values of Plan assets. The extent to which COVID-19 impacts the Plan's financial position and results will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge concerning the severity of the virus and the actions to contain and treat its impacts, among others.
In March 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law. The CARES Act contains certain provisions that were adopted which will temporarily impact the Plan, including allowing certain eligible participants to receive hardship distributions, suspension of loan repayments, and delay of minimum required distributions. The future effects from the CARES Act on the Plan's financial statements are uncertain.

(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. The total contract value of the Plan's FBRIC as of December 31, 2019 and 2018 was $1,381,266 and $1,291,658, respectively.

(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.

9
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2019 and 2018

Common stock, separately managed accounts, and registered investment company funds: These funds 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.
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, 2019 and 2018.
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

December 31, 2018:
Level 1
(in 000's)
Investments, at fair value:
 
Costco Wholesale Corporation common stock
$
5,964,993

Common commingled trust funds
3,950,639

Separately managed accounts
2,117,458

Registered investment company funds
1,248,845

Total investments in fair value hierarchy
$
13,281,935

(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 purported class-action was commenced against the Company, its Board of Directors and Benefits Committee, and other unnamed individuals, under 29 U.S.C section 1132(a)(2). Soulek v. Costco Wholesale Corp., et al., Case No. 20-cv-937 (E.D. Wisc.). The Plan itself is not named as a defendant. The complaint alleges that the defendants breached their fiduciary duties by authorizing the Plan to pay unreasonably high fees for recordkeeping, failing properly to review the Plan's investment portfolio, and maintaining investment options in the Plan with higher costs and poorer performance than alternatives. The complaint seeks a declaration that the defendants have breached their fiduciary duties and orders compelling the defendants to reimburse the

10
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2019 and 2018

Plan and disgorge profits to the Plan, and other equitable relief, as well as interest and attorneys' fees. The defendants have yet to respond to the complaint.
(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, 2019, 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, 2019 and 2018, the Plan held 28,750,000 and 29,282,000 shares of Costco common stock, respectively.



11
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4a - Schedule of Delinquent Participant Contributions
EIN: 91-1223280 Plan #: 002
Year Ending December 31, 2019


 
 
 
 
Total that Constitutes Nonexempt Prohibited Transactions
 
 
 
 
Participant Contributions Transferred Late to Plan
 
Check Here if Participant Loan Repayments are Included
 
Contributions Not Corrected
 
Contributions Corrected Outside VFCP
 
Contributions Pending Correction in VFCP
 
Total Fully Corrected Under VFCP and PTE 2002-51
2014
 
$
637

 
ý
 
$
—

 
$
637

 
$
—

 
$
—

2015
 
$
1,977

 
ý
 
$
—

 
$
1,977

 
$
—

 
$
—

2016
 
$
3,301

 
ý
 
$
—

 
$
3,301

 
$
—

 
$
—

2017
 
$
54,655

 
ý
 
$
—

 
$
54,655

 
$
—

 
$
—

2018
 
$
25

 
 
 
$
—

 
$
25

 
$
—

 
$
—




See accompanying report of independent registered public accounting firm.


12
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
EIN: 91-1223280 Plan #: 002
December 31, 2019
(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

**

$
350,722



PIMCO

Income Institutional

**

461,980



* T. Rowe Price

Retirement Balanced Trust G

**

26,112



* T. Rowe Price

TRP Ret 2005 Active Trust G

**

18,590



* T. Rowe Price

TRP Ret 2010 Active Trust G

**

41,766



* T. Rowe Price

TRP Ret 2015 Active Trust G

**

129,118



* T. Rowe Price

TRP Ret 2020 Active Trust G

**

400,076



* T. Rowe Price

TRP Ret 2025 Active Trust G

**

658,052



* T. Rowe Price

TRP Ret 2030 Active Trust G

**

707,316



* T. Rowe Price

TRP Ret 2035 Active Trust G

**

617,952



* T. Rowe Price

TRP Ret 2040 Active Trust G

**

742,187



* T. Rowe Price

TRP Ret 2045 Active Trust G

**

837,598



* T. Rowe Price

TRP Ret 2050 Active Trust G

**

505,363



* T. Rowe Price

TRP Ret 2055 Active Trust G

**

561,613



* T. Rowe Price

TRP Ret 2060 Active Trust G

**

121,152



* T. Rowe Price

TRP Ret 2020 Trust -Inc G

**

1,182



Vanguard

Total International Stock Index DX Institutional

**

30,794



Vanguard

Total Bond Market Index Fund Institutional

**

95,686



Vanguard

Institutional Index, Plus

**

663,454



Total registered investment company and common commingled trust funds



6,970,713

Separately managed accounts:










Mid-Cap Growth Portfolio:









Acadia Healthcare Co. Inc.

Common Stock

**

6,376




Acadia Pharmaceuticals Inc.

Common Stock

**

1,197




Agilent Technologies Inc.

Common Stock

**

20,466




Air Products & Chemicals Inc.

Common Stock

**

7,752




Alaska Air Group Inc.

Common Stock

**

3,725




Alnylam Pharmaceutical Inc.

Common Stock

**

5,065




Assurant Inc.

Common Stock

**

9,696




Atmos Energy Corp.

Common Stock

**

4,584




Avantor Inc.

Common Stock

**

7,729




Avery Dennison Corp.

Common Stock

**

9,677




Ball Corp.

Common Stock

**

22,173




Black Knight Inc.

Common Stock

**

6,510




Bruker Corp.

Common Stock

**

17,782




Burlington Stores Inc.

Common Stock

**

14,816




BWX Technologies Inc.

Common Stock

**

7,385




Carmax Inc.

Common Stock

**

4,557




Casey's General Stores Inc.

Common Stock

**

11,284




Catalent Inc.

Common Stock

**

16,715




Cboe Global Markets Inc.

Common Stock

**

11,156




Ceridian HCM Holding Inc.

Common Stock

**

10,110




Chewy Inc.-Class A

Common Stock

**

580


13
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Cognex Corp.

Common Stock

**

2,857




Colfax Corp.

Common Stock

**

11,092




Conagra Brands Inc.

Common Stock

**

4,757




Concho Resources Inc.

Common Stock

**

16,282




Continental Resources Inc./Ok

Common Stock

**

4,423




Cooper Cos Inc./The

Common Stock

**

26,335




Corelogic Inc.

Common Stock

**

9,918




Corning Inc.

Common Stock

**

12,425




Costar Group Inc.

Common Stock

**

10,765




Darden Restaurants Inc.

Common Stock

**

3,487




Docusign Inc.

Common Stock

**

10,297




Dollar General Corp.

Common Stock

**

18,398




Dollar Tree Inc.

Common Stock

**

11,282




Dunkin' Brands Group Inc.

Common Stock

**

7,022




E*Trade Financial Corp.

Common Stock

**

7,528




Elanco Animal Health Inc.

Common Stock

**

9,774




Entegris Inc.

Common Stock

**

5,758




Equifax Inc.

Common Stock

**

5,885




Eversource Energy

Common Stock

**

7,823




Exact Sciences Corp.

Common Stock

**

6,471




Fidelity National Financial

Common Stock

**

13,464




Fidelity National Info Services

Common Stock

**

10,289




Fifth Third Bancorp

Common Stock

**

5,715




Fiserv Inc.

Common Stock

**

16,066




Fleetcor Technologies Inc.

Common Stock

**

13,805




Flir Systems Inc.

Common Stock

**

4,424




Fortive Corp.

Common Stock

**

12,676




Gardner Denver Holdings Inc.

Common Stock

**

16,646




Gartner Inc.

Common Stock

**

5,699




Global Payments Inc.

Common Stock

**

18,614




Hilton Worldwide Holdings Inc.

Common Stock

**

10,200




Hologic Inc.

Common Stock

**

26,043




Hunt (JB) Transprt Svcs Inc.

Common Stock

**

11,907




IAC/InterActive Corp.

Common Stock

**

21,166




ICU Medical Inc.

Common Stock

**

5,611




Idex Corp.

Common Stock

**

15,990




Idexx Laboratories Inc.

Common Stock

**

3,654




Incyte Corp.

Common Stock

**

5,935




KKR & Co. Inc.-A

Common Stock

**

7,523




Keysight Technologies Inc.

Common Stock

**

16,107




L3 Technologies Inc.

Common Stock

**

15,823




Levi Strauss & Co.-Class A

Common Stock

**

1,774




MGM Resorts International

Common Stock

**

17,925




MarketAxess Holdings Inc.

Common Stock

**

5,305




Marriott International - Class A

Common Stock

**

8,477




Martin Marietta Materials

Common Stock

**

4,193


14
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Maxim Integrated Products

Common Stock

**

9,100




Microchip Technology Inc.

Common Stock

**

22,506




National Instruments Corp.

Common Stock

**

8,295




Neurocrine Biosciences Inc.

Common Stock

**

5,910




O'Reilly Automotive Inc.

Common Stock

**

7,886




PRA Health Sciences Inc.

Common Stock

**

11,333




Pioneer Natural Resources Co.

Common Stock

**

7,868




Progressive Corp.

Common Stock

**

3,329




RPM International Inc.

Common Stock

**

10,665




Rivian Automotive Ser D CV

Common Stock

**

2,169




Roper Technologies Inc.

Common Stock

**

13,101




SLM Corp.

Common Stock

**

2,467




SS&C Technologies Holdings

Common Stock

**

3,989




Sage Therapeutics Inc.

Common Stock

**

1,299




Sarepta Therapeutics Inc.

Common Stock

**

2,322




Sealed Air Corp.

Common Stock

**

8,082




Seattle Genetics Inc.

Common Stock

**

8,909




Sempra Energy

Common Stock

**

14,082




ServiceMaster Global Holdings

Common Stock

**

5,681




Skyworks Solutions Inc.

Common Stock

**

11,237




Slack Technologies, Inc.

Common Stock

**

2,719




Splunk Inc.

Common Stock

**

11,079




Sprouts Farmers Market Inc.

Common Stock

**

4,255




TD Ameritrade Holding Corp.

Common Stock

**

6,806




Tapestry Inc.

Common Stock

**

5,985




Teleflex Inc.

Common Stock

**

32,738




Textron Inc.

Common Stock

**

18,234




Tiffany & Co.

Common Stock

**

4,943




Tradeweb Markets Inc.-Class A

Common Stock

**

5,004




TransUnion

Common Stock

**

13,521




TreeHouse Foods Inc.

Common Stock

**

6,351




Ulta Beauty Inc.

Common Stock

**

4,302




Under Armour Inc.-Class C

Common Stock

**

2,109




United Airlines Holdings Inc.

Common Stock

**

6,516




VF Corp.

Common Stock

**

4,682




Vail Resorts Inc.

Common Stock

**

11,028




Valvoline Inc.

Common Stock

**

2,953




Veeva Systems Inc. -Class A

Common Stock

**

4,218




Venture Global LNG, Inc., Series B Common Stock, P

Common Stock

**

229




Venture Global LNG, Inc., Series C Common Stock, P

Common Stock

**

1,518




Verisk Analytics Inc.

Common Stock

**

12,390




Visteon Corp.

Common Stock

**

4,501




We Work Companies Class A Common Stock

Common Stock

**

156




Webster Financial Corp.

Common Stock

**

6,561




West Pharmaceutical Services

Common Stock

**

6,612


15
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Wex Inc.

Common Stock

**

4,815




Workday Inc.-Class A

Common Stock

**

9,699




Xilinx Inc.

Common Stock

**

11,728




Xylem Inc.

Common Stock

**

10,947




Zoom Video Communication - A

Common Stock

**

612




Alcon Inc.

Foreign Stock

**

6,786




Alkermes PLC

Foreign Stock

**

5,649




Allegion PLC

Foreign Stock

**

3,237




Aptiv PLC

Foreign Stock

**

12,246




Argenx SE - ADR

Foreign Stock

**

3,530




Ascendis Pharma A/S - ADR

Foreign Stock

**

2,225




Atlassian Corp. PLC-Class A

Foreign Stock

**

8,060




Axis Capital Holdings LTD

Foreign Stock

**

7,665




Clarivate Analytics PLC

Foreign Stock

**

5,475




IHS Markit LTD

Foreign Stock

**

10,470




Kirkland Lake Gold LTD

Foreign Stock

**

6,476




Marvell Technology Group LTD

Foreign Stock

**

13,487




Norwegian Cruise Line Holdings

Foreign Stock

**

18,392




Perrigo Co. PLC

Foreign Stock

**

9,553




Sensata Technologies Holding

Foreign Stock

**

16,962




Shopify Inc.-Class A

Foreign Stock

**

397




Spotify Technology SA

Foreign Stock

**

6,428




Waste Connections Inc.

Foreign Stock

**

4,991




Willis Towers Watson PLC

Foreign Stock

**

18,773




Roofoods (Deliveroo) Series G Convertible Preferred

Preferred Stock

**

49




Roofoods Limited (Deliveroo)

Preferred Stock

**

1,484




Collective US Govt. STIF 5 BPS

Bond

**

1,163




T. Rowe Price Treasury Reserve Fund

Money Market Securities

**

21,299



Large Cap Value Portfolio:









AT&T Inc.

Common Stock

**

17




AXA Equitable Holdings Inc.

Common Stock

**

3,019




Abbvie Inc.

Common Stock

**

4,734




Air Products & Chemicals Inc.

Common Stock

**

50




Ally Financial Inc.

Common Stock

**

724




Alphabet Inc.-Class C

Common Stock

**

2,062




Ameren Corporation

Common Stock

**

283




American Electric Power

Common Stock

**

1,085




American Express Co.

Common Stock

**

1,942




American International Group

Common Stock

**

10,720




Anthem Inc.

Common Stock

**

1,810




Applied Materials Inc.

Common Stock

**

4,152




Becton Dickinson and Co.

Common Stock

**

2,101




Biogen Inc.

Common Stock

**

1,423




Boeing Co./The

Common Stock

**

1,087




Boston Scientific Corp.

Common Stock

**

2,821


16
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Broadcom Inc.

Common Stock

**

4,664




CF Industries Holdings Inc.

Common Stock

**

2,313




CME Group Inc.

Common Stock

**

209




Capital One Financial Corp.

Common Stock

**

1,552




Caterpillar Inc.

Common Stock

**

1,756




Centerpoint Energy Inc.

Common Stock

**

1,686




Cisco Systems Inc.

Common Stock

**

460




Citigroup Inc.

Common Stock

**

1,640




Conagra Brands Inc.

Common Stock

**

803




Conocophillips

Common Stock

**

1,821




Continental Resources Inc./Ok

Common Stock

**

472




Cummins Inc./Inc

Common Stock

**

626




Danaher Corp.

Common Stock

**

10,022




Deere & Co./Co

Common Stock

**

2,977




Devon Energy Corp./Corp

Common Stock

**

777




Walt Disney Co./The

Common Stock

**

4,272




Dollar Tree Inc./Inc

Common Stock

**

3,650




Dover Corp./Corp

Common Stock

**

461




EOG Resources Inc.

Common Stock

**

3,862




Eastman Chemical Co.

Common Stock

**

989




Edison International

Common Stock

**

6,166




Elanco Animal Health Inc.

Common Stock

**

1,226




Entergy Corp.

Common Stock

**

4,133




Envista Holdings Corp.

Common Stock

**

1,034




Fidelity National Info Services

Common Stock

**

435




Fifth Third Bancorp

Common Stock

**

1,890




Freeport-Mcmoran Inc.

Common Stock

**

2,868




General Electric Co.

Common Stock

**

10,137




Halliburton Co.

Common Stock

**

1,855




Honeywell International Inc.

Common Stock

**

758




Intercontinental Exchange Inc.

Common Stock

**

1,281




International Paper Co.

Common Stock

**

910




JPMorgan Chase & Co.

Common Stock

**

13,508




Jacobs Engineering Group Inc.

Common Stock

**

1,871




Johnson & Johnson

Common Stock

**

848




Keysight Technologies Inc.

Common Stock

**

3,048




Las Vegas Sands Corp.

Common Stock

**

1,079




Marathon Petroleum Corp.

Common Stock

**

746




Marsh & Mclennan Cos

Common Stock

**

2,904




Merck & Co. Inc.

Common Stock

**

1,744




Metlife Inc.

Common Stock

**

1,334




Microsoft Corp.

Common Stock

**

11,676




Micron Technology Inc.

Common Stock

**

3,111




Morgan Stanley

Common Stock

**

6,343




Motorola Solutions Inc.

Common Stock

**

3,195




Nextera Energy Inc.

Common Stock

**

11,251


17
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Nisource Inc.

Common Stock

**

987




Noble Energy Inc.

Common Stock

**

807




Norfolk Southern Corp.

Common Stock

**

1,338




Nvidia Corp.

Common Stock

**

118




Occidental Petroleum Corp.

Common Stock

**

2,139




PPG Industries Inc.

Common Stock

**

2,280




Packaging Corp. Of America

Common Stock

**

3,442




Pfizer Inc.

Common Stock

**

1,581




Pioneer Natural Resources Co.

Common Stock

**

1,301




Prologis Inc.

Common Stock

**

6,474




Qualcomm Inc.

Common Stock

**

6,043




Roper Technologies Inc.

Common Stock

**

1,840




Ross Stores Inc.

Common Stock

**

31




Schwab (Charles) Corp.

Common Stock

**

2,265




Sempra Energy

Common Stock

**

6,542




Skyworks Solutions Inc.

Common Stock

**

640




Southern Co./The

Common Stock

**

3,724




Stanley Black & Decker Inc.

Common Stock

**

281




State Street Corp.

Common Stock

**

1,912




Stryker Corp.

Common Stock

**

1,174




Synopsys Inc.

Common Stock

**

1,738




Texas Instruments Inc.

Common Stock

**

2,628




Thermo Fisher Scientific Inc.

Common Stock

**

5,823




3M Co.

Common Stock

**

599




Tyson Foods Inc.-Class A

Common Stock

**

7,012




Union Pacific Corp.

Common Stock

**

1,860




United Parcel Service-Class B./B

Common Stock

**

2,971




United Rentals Inc.

Common Stock

**

1,699




UnitedHealth Group Inc.

Common Stock

**

1,351




VF Corp.

Common Stock

**

239




Vmware Inc.-Class A./A

Common Stock

**

1,274




Wells Fargo & Co.

Common Stock

**

7,020




Wynn Resorts LTD

Common Stock

**

957




Xilinx Inc.

Common Stock

**

1,201




Zimmer Biomet Holdings Inc.

Common Stock

**

1,438




ASML Holding NV-NY Reg. SHS

Foreign Stock

**

708




BP PLC-Spons. ADR

Foreign Stock

**

813




Chubb LTD

Foreign Stock

**

5,270




Linde PLC

Foreign Stock

**

6,358




Medtronic PLC

Foreign Stock

**

2,855




NXP Semiconductors NV

Foreign Stock

**

5,664




Royal Caribbean Cruises LTD

Foreign Stock

**

1,921




Schlumberger LTD

Foreign Stock

**

2,380




TC Energy Corp.

Foreign Stock

**

3,548




TE Connectivity LTD

Foreign Stock

**

240




Total SA-Spon. ADR

Foreign Stock

**

89


18
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Willis Towers Watson PLC

Foreign Stock

**

3,128




Becton Dickinson And Co.

Preferred Stock

**

612




Broadcom Inc.

Preferred Stock

**

778




Fortive Corporation

Preferred Stock

**

368




Sempra Energy

Preferred Stock

**

893




Southern Co.

Preferred Stock

**

1,204




Collective US Govt. STIF 5 BPS

Bond

**

1,013




T. Rowe Price Government Reserve Fund

Money Market Securities

**

1,683

 
 
Small-Cap Core Portfolio:
 
 
 
 
 
 



1stdibs.com, Inc., Series D Convertible Preferred

Common Stock

**

231




A Place for Rover Inc PP

Common Stock

**

12




ADT Inc.

Common Stock

**

564




AZZ Inc.

Common Stock

**

2,153




Aaron's Inc.

Common Stock

**

3,738




Acadia Healthcare Co. Inc.

Common Stock

**

1,761




Acadia Pharmaceuticals Inc.

Common Stock

**

412




Acadia Realty Trust

Common Stock

**

1,076




Acceleron Pharma Inc.

Common Stock

**

793




Actuant Corp.-A

Common Stock

**

987




Adaptive Biotechnologies

Common Stock

**

312




Aerojet Rocketdyne Holdings

Common Stock

**

2,112




Agios Pharmaceuticals Inc.

Common Stock

**

618




Aimmune Therapeutics Inc.

Common Stock

**

1,245




Alexander & Baldwin Inc.

Common Stock

**

823




Allbirds Common Stock PP

Common Stock

**

299




Allogene Therapeutics Inc.

Common Stock

**

178




Amedisys Inc.

Common Stock

**

2,934




American Campus Communities

Common Stock

**

2,930




Assurant Inc.

Common Stock

**

3,507




Atlantic Capital Bancshares

Common Stock

**

733




Atricure Inc.

Common Stock

**

831




Avanos Medical Inc.

Common Stock

**

1,856




Bankunited Inc.

Common Stock

**

2,669




Barnes Group Inc.

Common Stock

**

1,141




Belden Inc.

Common Stock

**

381




Bellring Brands Inc. -Class A

Common Stock

**

588




Bill.com Holdings Inc.

Common Stock

**

91




Bloom Energy Corp.-A

Common Stock

**

339




Blueprint Medicines Corp.

Common Stock

**

1,644




Booz Allen Hamilton Holding

Common Stock

**

3,544




Boston Beer Company Inc.-A

Common Stock

**

4,143




Bridge Bancorp Inc.

Common Stock

**

1,488




Bright Horizons Family Solutions

Common Stock

**

2,355




Brink's Co./The

Common Stock

**

4,963




Bruker Corp.

Common Stock

**

3,027


19
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(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

**

5,330




BWX Technologies Inc.

Common Stock

**

3,646




Cable One Inc.

Common Stock

**

5,374




Cal-Maine Foods Inc.

Common Stock

**

2,406




California Water Service Grp.

Common Stock

**

1,522




Capitol Federal Financial Inc.

Common Stock

**

1,226




Cara Therapeutics Inc.

Common Stock

**

322




Catalent Inc.

Common Stock

**

3,825




Cavco Industries Inc.

Common Stock

**

1,297




Cboe Global Markets Inc.

Common Stock

**

5,124




Centerstate Bank Corp.

Common Stock

**

2,018




Ceridian HCM Holding Inc.

Common Stock

**

3,479




Chart Industries Inc.

Common Stock

**

2,380




Checkr Inc. Common Stock Private Placement

Common Stock

**

240




Chegg Inc.

Common Stock

**

1,019




Chesapeake Utilities Corp.

Common Stock

**

2,307




Chuy's Holdings Inc.

Common Stock

**

1,024




Columbia Banking System Inc.

Common Stock

**

1,174




Community Healthcare Trust Inc.

Common Stock

**

484




Conyers Park II Acquisition

Common Stock

**

679




Corvus Pharmaceuticals Inc.

Common Stock

**

76




Coupa Software Inc.

Common Stock

**

2,644




Cross Country Healthcare Inc.

Common Stock

**

697




Crossfirst Bankshares Inc.

Common Stock

**

766




CTS Corp.

Common Stock

**

1,908




Cubesmart

Common Stock

**

1,696




Cubic Corp.

Common Stock

**

2,855




Denny's Corp.

Common Stock

**

1,658




Diamondback Energy Inc.

Common Stock

**

2,023




Dril-Quip Inc.

Common Stock

**

897




Drive Shack Inc.

Common Stock

**

324




Dunkin' Brands Group Inc.

Common Stock

**

2,349




East West Bancorp Inc.

Common Stock

**

1,322




Eastgroup Properties Inc.

Common Stock

**

4,547




Element Solutions Inc.

Common Stock

**

1,120




Enanta Pharmaceuticals Inc.

Common Stock

**

129




Encore Capital Group Inc.

Common Stock

**

1,999




Entegris Inc.

Common Stock

**

4,579




Equity Bancshares Inc.-Class A

Common Stock

**

1,003




ESCO Technologies Inc.

Common Stock

**

3,605




Euronet Worldwide Inc.

Common Stock

**

3,387




EVO Payments Inc.-Class A

Common Stock

**

456




FB Financial Corp.

Common Stock

**

1,999




Federal Signal Corp.

Common Stock

**

351




Fiesta Restaurant Group

Common Stock

**

523




First Bancshares Inc./MS

Common Stock

**

1,185


20
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



First Industrial Realty Tr.

Common Stock

**

1,262




Five Below

Common Stock

**

545




Five9 Inc.

Common Stock

**

2,355




Forty Seven Inc.

Common Stock

**

164




G1 Therapeutics Inc.

Common Stock

**

333




Gardner Denver Holdings Inc.

Common Stock

**

2,078




GCP Applied Technologies

Common Stock

**

1,096




Gentherm Inc.

Common Stock

**

1,735




Gibraltar Industries Inc.

Common Stock

**

2,620




Global Blood Therapeutics Inc.

Common Stock

**

3,348




Graco Inc.

Common Stock

**

2,019




Grasshopper Bancorp Voting SHS PP

Common Stock

**

215




Grocery Outlet Holding Corp.

Common Stock

**

151




Hanger Inc.

Common Stock

**

2,601




Hanover Insurance Group Inc.

Common Stock

**

2,829




Hawaiian Holdings Inc.

Common Stock

**

1,340




Haynes International Inc.

Common Stock

**

1,265




Helios Technologies Inc.

Common Stock

**

1,068




Heritage Commerce Corp.

Common Stock

**

1,167




Heritage Financial Corp.

Common Stock

**

1,219




Heritage-Crystal Clean Inc.

Common Stock

**

1,286




HMS Holdings Corp.

Common Stock

**

1,750




Home Bancshares Inc.

Common Stock

**

3,396




Homology Medicines Inc.

Common Stock

**

430




Hope Bancorp Inc.

Common Stock

**

913




Huron Consulting Group Inc.

Common Stock

**

980




ICU Medical Inc.

Common Stock

**

1,440




IGM Biosciences Inc.

Common Stock

**

340




Immunomedics Inc.

Common Stock

**

736




Independent Bank Corp./MA

Common Stock

**

1,003




Independent Bank Group Inc.

Common Stock

**

2,388




Inphi Corp.

Common Stock

**

1,669




Insmed Inc.

Common Stock

**

1,660




Investors Bancorp Inc.

Common Stock

**

1,403




Iovance Biotherapeutics Inc.

Common Stock

**

186




Irhythm Technologies Inc.

Common Stock

**

1,791




Jagged Peak Energy Inc.

Common Stock

**

851




Jand Inc. DBA Warby Parker Class A Common

Common Stock

**

303




JBG Smith Properties

Common Stock

**

3,437




John Bean Technologies Corp.

Common Stock

**

4,373




Knight-Swift Transportation

Common Stock

**

1,938




Kodiak Sciences Inc.

Common Stock

**

818




Kosmos Energy LTD

Common Stock

**

289




Kratos Defense & Security

Common Stock

**

214




Krystal Biotech Inc.

Common Stock

**

253




Landstar System Inc.

Common Stock

**

1,342


21
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Lattice Semiconductor Corp.

Common Stock

**

4,290




Liberty Oilfield Services - A

Common Stock

**

1,383




Littelfuse Inc.

Common Stock

**

1,914




Live Oak Bancshares Inc.

Common Stock

**

940




Magnolia Oil & Gas Corp - A

Common Stock

**

1,909




Matson Inc.

Common Stock

**

3,035




Meridian Bancorp Inc.

Common Stock

**

1,967




Meritor Inc.

Common Stock

**

1,979




Michaels Cos Inc./The

Common Stock

**

1,217




Middlesex Water Co.

Common Stock

**

1,370




Minerals Technologies Inc.

Common Stock

**

1,792




MKS Instruments Inc.

Common Stock

**

948




Molina Healthcare Inc.

Common Stock

**

4,656




Momenta Pharmaceuticals Inc.

Common Stock

**

855




Monolithic Power Systems Inc.

Common Stock

**

1,203




Monro Inc.

Common Stock

**

4,454




Mueller Water Products Inc.-A

Common Stock

**

1,819




Myokardia Inc.

Common Stock

**

1,727




National Cinemedia Inc.

Common Stock

**

169




National Instruments Corp.

Common Stock

**

3,163




National Vision Holdings Inc.

Common Stock

**

454




Ncino, Inc.

Common Stock

**

409




Nevro Corp.

Common Stock

**

1,487




New Fortress Energy LLC

Common Stock

**

431




Nextier Oilfield Solutions Inc.

Common Stock

**

966




Nextera Energy Partners LP

Common Stock

**

1,418




Nuvasive Inc.

Common Stock

**

1,586




Odonate Therapeutics Inc.

Common Stock

**

166




Ollie's Bargain Outlet Holdings

Common Stock

**

3,819




One Gas Inc.

Common Stock

**

4,245




Origin Bancorp Inc.

Common Stock

**

1,685




Pacific Premier Bancorp Inc.

Common Stock

**

1,301




Pagerduty Inc.

Common Stock

**

430




Papa John's Intl. Inc.

Common Stock

**

2,877




Paramount Group Inc.

Common Stock

**

868




Parsons Corp.

Common Stock

**

900




Pax Labs Class A Common

Common Stock

**

422




Paycom Software Inc.

Common Stock

**

3,139




Paylocity Holding Corp.

Common Stock

**

311




PDF Solutions Inc.

Common Stock

**

1,020




Pennant Group Inc./The

Common Stock

**

910




Pennymac Financial Services

Common Stock

**

2,537




Penumbra Inc.

Common Stock

**

309




Performance Food Group Co.

Common Stock

**

2,740




PGT Innovations Inc.

Common Stock

**

1,059




Pinnacle Financial Partners

Common Stock

**

3,343


22
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



PNM Resources Inc.

Common Stock

**

4,817




Polyone Corporation

Common Stock

**

1,203




Post Holdings Inc.

Common Stock

**

3,598




PRA Group Inc.

Common Stock

**

2,175




Principia Biopharma Inc.

Common Stock

**

793




Proofpoint Inc.

Common Stock

**

2,603




Prosight Global Inc.

Common Stock

**

272




Prosperity Bancshares Inc.

Common Stock

**

2,172




PS Business Parks Inc./CA

Common Stock

**

4,227




PTC Therapeutics Inc.

Common Stock

**

718




Quaker Chemical Corp.

Common Stock

**

1,727




Quanex Building Products

Common Stock

**

300




Quidel Corp.

Common Stock

**

3,454




Radian Group Inc.

Common Stock

**

1,722




Radius Health Inc.

Common Stock

**

1,760




Reata Pharmaceuticals Inc.-A

Common Stock

**

1,937




Red Robin Gourmet Burgers

Common Stock

**

1,165




Regency Centers Corp.

Common Stock

**

1,048




REV Group Inc.

Common Stock

**

446




Rexford Industrial Realty Inc.

Common Stock

**

2,692




RH

Common Stock

**

842




Rivian Automotive Ser D Cv

Common Stock

**

587




Safety Insurance Group Inc.

Common Stock

**

1,312




Sage Therapeutics Inc.

Common Stock

**

1,002




Sanderson Farms Inc.

Common Stock

**

2,880




Schneider National Inc.-Class B

Common Stock

**

1,144




Scholar Rock Holding Corp.

Common Stock

**

116




Seacoast Banking Corp./FL

Common Stock

**

2,708




Seattle Genetics Inc.

Common Stock

**

1,301




Selective Insurance Group

Common Stock

**

3,616




Semtech Corp.

Common Stock

**

671




Service Titan Inc. PP

Common Stock

**

21




Shenandoah Telecommunication

Common Stock

**

344




Signature Bank

Common Stock

**

528




Simply Good Foods Co./The

Common Stock

**

1,512




Simpson Manufacturing Co. Inc.

Common Stock

**

1,947




Siteone Landscape Supply Inc.

Common Stock

**

5,070




SJW Group

Common Stock

**

2,224




Skyline Champion Corp.

Common Stock

**

1,793




SLM Corp.

Common Stock

**

817




Sound Bank Non-Voting Common

Common Stock

**

131




Sound Bank Voting Common

Common Stock

**

65




South State Corp.

Common Stock

**

1,574




Southwest Gas Holdings Inc.

Common Stock

**

3,898




SPX Corp.

Common Stock

**

998




SS&C Technologies Holdings

Common Stock

**

3,963


23
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



State Auto Financial Corp.

Common Stock

**

889




Stericycle Inc.

Common Stock

**

487




Sterling Bancorp Inc./MI

Common Stock

**

582




Stoneridge Inc.

Common Stock

**

1,075




Strategic Education Inc.

Common Stock

**

331




Tabula Rasa Healthcare Inc.

Common Stock

**

338




Team Inc.

Common Stock

**

993




Teledyne Technologies Inc.

Common Stock

**

5,355




Tempur Sealy International Inc.

Common Stock

**

2,544




Tetra Tech Inc.

Common Stock

**

469




Texas Capital Bancshares Inc.

Common Stock

**

1,023




Therapeuticsmd Inc.

Common Stock

**

1,069




Thermon Group Holdings Inc.

Common Stock

**

494




Toast Inc. PP

Common Stock

**

1




Toro Co.

Common Stock

**

3,409




Towne Bank

Common Stock

**

1,400




Treehouse Foods Inc.

Common Stock

**

2,815




Tri Pointe Group Inc.

Common Stock

**

1,902




Tricida Inc.

Common Stock

**

695




Tucows Inc.-Class A

Common Stock

**

657




Tuesday Morning Corp.

Common Stock

**

324




Turning Point Therapeutics Inc.

Common Stock

**

596




U.S. Physical Therapy Inc.

Common Stock

**

1,619




Ultragenyx Pharmaceutical Inc.

Common Stock

**

1,058




Valmont Industries

Common Stock

**

1,938




Venture Global LNG, Inc., Series B Common Stock, P

Common Stock

**

82




Venture Global LNG, Inc., Series C Common Stock, P

Common Stock

**

1,082




Visteon Corp.

Common Stock

**

1,595




Webster Financial Corp.

Common Stock

**

1,895




Western Alliance Bancorp

Common Stock

**

4,082




Xencor Inc.

Common Stock

**

1,299




Zendesk Inc.

Common Stock

**

2,626




Zynga Inc.-Class A

Common Stock

**

2,173




Alacer Gold Corp.

Foreign Stock

**

998




Argenx SE - ADR

Foreign Stock

**

2,227




Ascendis Pharma A/S - ADR

Foreign Stock

**

4,391




Axis Capital Holdings LTD

Foreign Stock

**

2,370




Bombardier Inc.-B

Foreign Stock

**

1,118




Clarivate Analytics PLC

Foreign Stock

**

2,733




Collier Creek Holdings

Foreign Stock

**

612




Colliers International Group

Foreign Stock

**

537




Computer Modelling Group LTD

Foreign Stock

**

576




Constellium SE

Foreign Stock

**

1,557




Crispr Therapeutics AG

Foreign Stock

**

178




Descartes Systems Grp./The

Foreign Stock

**

4,134


24
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Ero Copper Corp.

Foreign Stock

**

2,561




Essent Group LTD

Foreign Stock

**

1,421




Firstservice Corp.

Foreign Stock

**

4,277




Franco-Nevada Corp.

Foreign Stock

**

2,510




Interfor Corp.

Foreign Stock

**

1,237




Lundin Mining Corp.

Foreign Stock

**

1,292




Nomad Foods LTD

Foreign Stock

**

1,704




Northern Star Resources LTD

Foreign Stock

**

3,115




Novanta Inc.

Foreign Stock

**

3,469




Onespaworld Holdings LTD

Foreign Stock

**

1,103




Orchard Therapeutics PLC

Foreign Stock

**

816




Osisko Gold Royalties LTD

Foreign Stock

**

783




Rentokil Initial PLC

Foreign Stock

**

1,991




Seven Generations Energy - A

Foreign Stock

**

1,020




Stella-Jones Inc.

Foreign Stock

**

2,007




Stoneco LTD-A

Foreign Stock

**

1,752




Waste Connections Inc.

Foreign Stock

**

1,978




Wave Life Sciences LTD

Foreign Stock

**

56




West Fraser Timber Co. LTD

Foreign Stock

**

3,200




A Place For Rover, Inc.

Preferred Stock

**

176




Allbirds, Inc. Series A Convertible Preferred

Preferred Stock

**

97




Allbirds Inc. Series B Convertible Preferred

Preferred Stock

**

17




Allbirds Series C CVT PFD ST

Preferred Stock

**

163




Allbirds, Inc., Series Seed Convertible Preferred

Preferred Stock

**

52




Checker Inc. CVT PFD SR D PP

Preferred Stock

**

541




Checkr, Inc. Series C Convertible Preferred Stock

Preferred Stock

**

346




Convoy Series C CVT PFD Stock

Preferred Stock

**

664




Convoy Series D CVT PFD Stock

Preferred Stock

**

459




Farmers Business Network

Preferred Stock

**

696




Jand Inc. DBA Warby Parker Series E Convertible

Preferred Stock

**

374




Roofoods Limited (Deliveroo)

Preferred Stock

**

846




Roofoods (Deliveroo) Series G Convertible Preferred

Preferred Stock

**

29




Seismic Software Series E Convertible

Preferred Stock

**

340




Servicetitan, Inc., Series D Convertible Preferred

Preferred Stock

**

211




Toast Inc. CVT PFD SR D PP

Preferred Stock

**

776




Toast Series B CVT PFD Stock

Preferred Stock

**

11




Vroom Inc. CVT SER PFD

Preferred Stock

**

556




Vroom Inc. Series H

Preferred Stock

**

233




Collective US Govt. STIF 5 BPS

Bond

**

986




T. Rowe Price Treasury Reserve Fund

Money Market Securities

**

6,781




Grasshopper Bancorp WTS Inc.

Warrants

**

15



International Equity Portfolio:









Aflac Inc.

Common Stock

**

2,875


25
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Mettler-Toledo International

Common Stock

**

2,822




AAC Technologies H-Unsponsored ADR

Foreign Stock

**

4,383




ABB LTD-Sponsored ADR

Foreign Stock

**

1,976




Adecco Group AG-Reg.-Unsponsored ADR

Foreign Stock

**

3,292




Air Liquide-Unsponsored ADR

Foreign Stock

**

2,294




Allianz SE-Sponsored ADR

Foreign Stock

**

2,870




Astellas Pharma Inc.-Unsponsored ADR

Foreign Stock

**

3,453




AXA -Sponsored ADR

Foreign Stock

**

3,024




BASF SE-Sponsored ADR

Foreign Stock

**

1,869




BNP Paribas-ADR

Foreign Stock

**

3,280




Banco Bilbao Vizcaya-Sponsored ADR

Foreign Stock

**

2,960




Bancolombia S.A.-Sponsored ADR

Foreign Stock

**

2,983




BHP Group LTD-Sponsored ADR

Foreign Stock

**

3,011




British American TOB-Sponsored ADR

Foreign Stock

**

3,204




CSL LTD-Sponsored ADR

Foreign Stock

**

2,906




Coca-Cola HBC AG-Unsponsored ADR

Foreign Stock

**

2,338




Compass Group PLC-Sponsored ADR

Foreign Stock

**

2,535




Continental AG-Sponsored ADR

Foreign Stock

**

2,502




DNB ASA-Sponsored ADR

Foreign Stock

**

3,203




Dassault Systemes S-Sponsored ADR

Foreign Stock

**

1,798




Diageo PLC-Sponsored ADR

Foreign Stock

**

2,500




Enbridge Inc.

Foreign Stock

**

2,057




Essity AB-Sponsored ADR

Foreign Stock

**

2,950




Fanuc Corp.-Unsponsored ADR

Foreign Stock

**

1,476




Fresenius SE & Co.-Sponsored ADR

Foreign Stock

**

2,826




Givaudan-Unsponsored ADR

Foreign Stock

**

2,439




Grupo Fin Banorte-Sponsored ADR

Foreign Stock

**

3,389




Henkel KGaA-Sponsored ADR PFD

Foreign Stock

**

2,341




Imperial Oil LTD

Foreign Stock

**

3,106




JGC Corp.-Unsponsored ADR

Foreign Stock

**

2,919




Kering-Unsponsored ADR

Foreign Stock

**

3,019




Komatsu LTD -Sponsored ADR

Foreign Stock

**

2,948




Kubota Corp.-Sponsored ADR

Foreign Stock

**

2,404




L'oreal-Unsponsored ADR

Foreign Stock

**

2,143




MTN Group LTD-Sponsored ADR

Foreign Stock

**

1,129




Muenchener Rueck-Unsponsored ADR

Foreign Stock

**

2,712




Nestle SA-Sponsored ADR

Foreign Stock

**

2,207




Nitto Denko Corp.-Unsponsored ADR

Foreign Stock

**

2,698




Novartis AG-Sponsored ADR

Foreign Stock

**

2,134




Novo-Nordisk A/S-Sponsored ADR

Foreign Stock

**

2,897




Orix-Sponsored ADR

Foreign Stock

**

3,178




Prudential PLC-ADR

Foreign Stock

**

3,229




Reckitt Benckiser-Sponsored ADR

Foreign Stock

**

2,536




Roche Holdings LTD-Sponsored ADR

Foreign Stock

**

3,076




Royal Dutch Shell-Sponsored ADR-B

Foreign Stock

**

2,586




Ryanair Holdings PLC-Sponsored ADR

Foreign Stock

**

4,006


26
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Sandvik AB-Sponsored ADR

Foreign Stock

**

3,354




SAP SE-Sponsored ADR

Foreign Stock

**

2,304




Siemens AG-Sponsored ADR

Foreign Stock

**

2,499




Singapore Telecommunication-ADR

Foreign Stock

**

1,887




Sysmex Corp.-Unsponsored ADR

Foreign Stock

**

2,054




Taiwan Semiconductor-Sponsored ADR

Foreign Stock

**

3,493




Tokyo Electron LTD-Unsponsored ADR

Foreign Stock

**

3,361




Total SA-Sponsored ADR

Foreign Stock

**

2,801




United Overseas Bank-Sponsored ADR

Foreign Stock

**

2,986




Volkswagen AG-Unsponsored ADR

Foreign Stock

**

4,072




WPP PLC-Sponsored ADR

Foreign Stock

**

2,747




Walmart De Mexico-Sponsored ADR

Foreign Stock

**

2,449




Woodside Petroleum-Sponsored ADR

Foreign Stock

**

2,160




Credicorp LTD

Securities

**

2,854




Federated Government Obligations Fund

Common Stock

**

4,968



Large Cap Growth Portfolio:









Activision Blizzard Inc.

Common Stock

**

21,535




Adobe Inc.

Common Stock

**

21,696




Alexion Pharmaceuticals Inc.

Common Stock

**

14,275




Align Technology Inc.

Common Stock

**

14,648




Amazon.com Inc.

Common Stock

**

25,525




Applied Materials Inc.

Common Stock

**

19,519




Booking Holdings Inc.

Common Stock

**

21,168




Bristol-Myers Squibb Co.

Common Stock

**

23,386




Walt Disney Co./The

Common Stock

**

13,441




Edwards Lifesciences Corp.

Common Stock

**

14,273




Exact Sciences Corp.

Common Stock

**

9,970




Facebook Inc.-Class A

Common Stock

**

26,791




Idexx Laboratories Inc.

Common Stock

**

17,862




Illumina Inc.

Common Stock

**

18,892




Intuit Inc.

Common Stock

**

12,231




MSCI Inc.

Common Stock

**

15,982




Nike Inc.-Class B

Common Stock

**

21,459




Nvidia Corp.

Common Stock

**

24,478




Paypal Holdings Inc.

Common Stock

**

18,541




Pioneer Natural Resources Co.

Common Stock

**

11,111




Planet Fitness Inc.-Class A

Common Stock

**

10,184




Roku Inc.

Common Stock

**

6,556




Salesforce.com Inc.

Common Stock

**

21,919




Sarepta Therapeutics Inc.

Common Stock

**

11,432




Servicenow Inc.

Common Stock

**

21,658




Splunk Inc.

Common Stock

**

18,267




Square Inc.-A

Common Stock

**

15,014




TJX Companies Inc.

Common Stock

**

12,360




UnitedHealth Group Inc.

Common Stock

**

20,498




Visa Inc.-Class A Shares

Common Stock

**

18,895


27
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value



Alibaba Group Holding

Foreign Stock

**

28,792




Canada Goose Holdings Inc.

Foreign Stock

**

11,763




New Oriental Education-Sponsored

Foreign Stock

**

19,558




Trip.com Group LTD-ADR

Foreign Stock

**

10,115




Dreyfus Treasury & Agency Cash Mgnt. # 521

Money Market Security

**

10,821

 
 
Total separately managed accounts
 
 
 
2,815,472

Fully Benefit-Responsive Contracts:
 
 
 
 
 
 
 
 
Capital Preservation Portfolio:
 
 
 
 
 
 



* T. Rowe Price Reserve Inv Fund

Mutual and Trust Fund

**

61,535




* T. Rowe Price Short Term Common:









    American General Life

Mutual and Trust Fund

**

62,347




    Mass Mutual SIC

Mutual and Trust Fund

**

68,378




    Prudential Building Block Trust

Mutual and Trust Fund

**

60,423




    State Street Building Block Trust

Mutual and Trust Fund

**

40,705




    Pacific Life Building Block Trust

Mutual and Trust Fund

**

57,361




    RBC Building Block Trust

Mutual and Trust Fund

**

72,044




    NY Life Bldg Block Trust

Mutual and Trust Fund

**

60,716




    Transamerica Building Block Trust

Mutual and Trust Fund

**

71,843




    Metropolitan Life

Mutual and Trust Fund

**

53,595




* T. Rowe Price Int Term Common:









    Mass Mutual SIC

Mutual and Trust Fund

**

55,168




    Prudential Building Block Trust

Mutual and Trust Fund

**

74,892




    State Street Building Block Trust

Mutual and Trust Fund

**

94,482




    Pacific Life Building Block Trust

Mutual and Trust Fund

**

71,095




    American General Life

Mutual and Trust Fund

**

43,836




    RBC Building Block Trust

Mutual and Trust Fund

**

50,664




    NY Life Bldg Block Trust

Mutual and Trust Fund

**

75,254




    Transamerica Building Block Trust

Mutual and Trust Fund

**

50,514




    Metropolitan Life

Mutual and Trust Fund

**

124,401




* T. Rowe Price Managed Bond:









    Mass Mutual SIC

Mutual and Trust Fund

**

14,340




    Prudential Building Block Trust

Mutual and Trust Fund

**

15,707




    State Street Building Block Trust

Mutual and Trust Fund

**

12,834




    Pacific Life Building Block Trust

Mutual and Trust Fund

**

14,910




    American General Life

Mutual and Trust Fund

**

12,562




    RBC Building Block Trust

Mutual and Trust Fund

**

14,519




    NY Life Bldg Block Trust

Mutual and Trust Fund

**

15,782




    Transamerica Building Block Trust

Mutual and Trust Fund

**

14,462




    Metropolitan Life

Mutual and Trust Fund

**

16,897



Total Fully Benefit-Responsive Contracts



1,381,266


* Costco Wholesale Corporation

Common stock

**

8,450,171

Total investments



19,617,622










* Participant loans

Interest rates of 4.25% to 11.50% maturing through 2034

__

532,927

Total



$
20,150,549


28
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2019
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
_________________________
 
 
 
 
 
 
 
 
* Indicates a party-in-interest
 
 
 
 
 
 
 
 
** Information is not required as investments are participant directed
 
 
 
 
 
 
 
 



See accompanying report of independent registered public accounting firm.

29


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 26, 2020
 
By:
/s/ PATRICK J. CALLANS
Date
 
 
Patrick J. Callans
Executive Vice President
Costco Wholesale Corporation

30