Document




UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 11-K
(Mark One)
 
ý
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2016
OR
 
 
¨
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 001-37702
THE RETIREMENT AND SAVINGS PLAN FOR
AMGEN MANUFACTURING, LIMITED
State Road 31, Kilometer 24.6, Juncos, Puerto Rico 00777
(Full title and address of the plan)
AMGEN INC.
(Name of issuer of the securities held)
 
 
 
 
One Amgen Center Drive,
 
91320-1799
Thousand Oaks, California
 
(Zip Code)
(Address of principal executive offices)
 
 









The Retirement and Savings Plan for
Amgen Manufacturing, Limited


Audited Financial Statements
and Supplemental Schedule
Years Ended December 31, 2016 and 2015

Contents
 
 
 
 
 
Audited Financial Statements:
 
 
 
 
 
Supplemental Schedule:
 
 
 
 
 





Report of Independent Registered Public Accounting Firm


Amgen Manufacturing, Limited, as Named Fiduciary, and the Plan Participants
of The Retirement and Savings Plan for Amgen Manufacturing, Limited
We have audited the accompanying statements of net assets available for benefits of The Retirement and Savings Plan for Amgen Manufacturing, Limited (the Plan) as of December 31, 2016 and 2015, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2016 and 2015, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.
The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2016, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ ERNST & YOUNG LLP
Los Angeles, California
June 13, 2017

1



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Statements of Net Assets Available for Benefits



 
 
December 31,
 
 
2016
 
2015
Assets
 
 
 
 
Investments at fair value
 
$
356,840,368

 
$
321,774,040

Notes receivable from participants
 
15,370,923

 
15,201,879

Other – principally due from broker
 
1,083,321

 
1,048,898

Total assets
 
373,294,612

 
338,024,817

Liabilities
 
 
 
 
Other – principally due to broker
 
232,476

 
227,238

Total liabilities
 
232,476

 
227,238

Net assets available for benefits
 
$
373,062,136

 
$
337,797,579

See accompanying notes.

2



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Statements of Changes in Net Assets Available for Benefits



 
 
Years Ended December 31,
 
 
2016
 
2015
Additions to (deductions from) net assets:
 
 
 
 
Employer contributions
 
$
14,309,107

 
$
13,236,920

Participant contributions
 
12,882,679

 
11,755,741

Rollover contributions
 
657,271

 

Interest and dividend income
 
4,045,139

 
3,213,064

Net realized/unrealized gains (losses)
 
14,163,614

 
(3,900,677
)
Interest income on notes receivable from participants
 
621,317

 
637,600

Benefits paid
 
(10,928,488
)
 
(21,373,415
)
Investment and administrative fees
 
(486,082
)
 
(468,410
)
Net increase
 
35,264,557

 
3,100,823

Net assets available for benefits at beginning of year
 
337,797,579

 
334,696,756

Net assets available for benefits at end of year
 
$
373,062,136

 
$
337,797,579

See accompanying notes.

3



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements
December 31, 2016



1. Description of the Plan
The following description of The Retirement and Savings Plan for Amgen Manufacturing, Limited (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
General
The Plan was established effective January 1, 2002, and was most recently amended and restated effective January 1, 2017. The Plan is a defined contribution plan covering substantially all Puerto Rico resident employees of Amgen Manufacturing, Limited (the Company), a wholly owned subsidiary of Amgen Inc. (Amgen). The Plan, as amended and restated, is intended to qualify under Section 1081.01 of the Puerto Rico Internal Revenue Code of 2011, as amended (the PR Code) (see Note 4, Income Tax Status) and section 407(d)(3)(A) of the Employee Retirement Income Security Act of 1974 (ERISA).
Contributions
Subject to certain limitations (as defined in the Plan), participants may elect to contribute up to 30% of their eligible compensation in pre-tax contributions and after-tax contributions or a combination of these types of contributions. A participant’s pre-tax contributions are subject to PR Code and Plan limitations and could not exceed $15,000 in 2016 and 2015. Participants may elect to contribute after-tax contributions beginning January 1 of the year following the year the participant was hired. Participant after-tax contributions are subject to PR Code and Plan limitations and could not exceed $1,500 in 2016 and 2015. Unless an employee has voluntarily enrolled in the Plan or has declined to participate in the Plan within the first 30 days of employment, all newly eligible participants are automatically enrolled in the Plan, and contributions equal to 5% of their eligible compensation are withheld and contributed to the Plan as pre-tax contributions; such contributions are automatically increased by 1% per year until their contributions reach 10% of their eligible compensation. Participants may elect to adjust, cease or resume their contributions at any time.
Participants who are at least age 50 by the close of the Plan year may also elect to make certain additional pre-tax contributions, referred to as catch-up contributions, that are subject to PR Code and Plan limitations and could not exceed $1,500 in 2016 and 2015. Participants may also contribute pre-tax and after-tax amounts representing distributions from certain other retirement plans qualified in Puerto Rico, referred to as rollover contributions (as defined in the Plan).

Each pay period, the Company makes a non-elective contribution for all eligible participants, whether or not they have elected to make contributions to the Plan, equal to 4% of each participant’s eligible compensation up to a maximum of $10,600 in 2016 and 2015 (Core Contributions). In addition, the Company makes a contribution equal to amounts contributed by the participant as pre-tax contributions, including catch-up contributions, of up to 5% of eligible compensation (Matching Contributions). Matching Contributions could not exceed $13,250 in 2016 and 2015.
Participants select the investments in which their contributions, including their Core Contributions and Matching Contributions (collectively, Company Contributions), are to be invested, electing among various alternatives, including Amgen Inc. common stock (Amgen stock). Participants may direct a maximum of 20% of contributions to be invested in Amgen stock. In addition, participants may transfer amounts among

4



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)


the investment options at any time, subject to certain limitations. Notwithstanding the foregoing, if 20% or more of the value of a participant’s Plan account is invested in Amgen stock, the Plan document provides that no transfers from other investment options can be made to invest in Amgen stock.
The accounts of participants who had never made an investment election are allocated to investments under a qualified default investment alternative, which is intended to be compliant with ERISA regulations. At any time, participants may elect to alter the investments in their accounts made under a qualified default investment alternative.
Vesting
Participants are immediately vested with respect to their contributions, Company Contributions, and earnings and losses (hereafter referred to as earnings) thereon.
Participant Accounts
Each participant’s account is credited with: (a) the participant’s contributions; (b) an allocation of Company Contributions; and (c) earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.
Plan Investments
Participants can invest in any of 16 different asset classes as well as Amgen stock or may actively manage their account under a self-directed brokerage arrangement in which a wider array of investment options are available. The value of an investment in an asset class is determined by its underlying investment vehicles, which may include one or more of the following: mutual funds, collective trust funds and portfolios, which are separately managed exclusively for the benefit of Plan participants and their beneficiaries (separately managed portfolios). The separately managed portfolios are primarily composed of investments in publicly traded common and preferred stocks. The asset classes are designed to provide participants with choices among a variety of investment objectives.
Payments of Benefits
Subject to Plan limitations, upon termination of employment, including termination due to disability (as defined in the Plan) or retirement, a participant may elect to receive an amount equal to the entire value of his or her account balance in: (a) a single payment in cash; (b) a single distribution in full shares of Amgen stock (with any fractional shares paid in cash); (c) a single distribution paid in a combination of cash and full shares of Amgen stock; or (d) a rollover distribution to an eligible retirement plan. Participants may also elect to receive a partial distribution of his or her account balance no more than once per year.
If a participant dies before receiving the value of his or her account balance, the participant’s named beneficiary may elect to receive the distribution of remaining funds from among the alternatives described above, subject to certain Plan limitations.
Subsequent to termination of employment, participants may also elect to maintain their account balance in the Plan, provided that their account balance is greater than $1,000.
Certain restrictions apply to withdrawals from the Plan while a participant continues to be employed by the Company.

5



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)


Notes Receivable from Participants
Subject to certain restrictions, a participant can have up to two loans outstanding at any one time from his or her Plan account with a combined maximum loan amount which may not exceed the lesser of: (a) 50% of the participant’s account balance or (b) $50,000 less certain adjustments, as applicable (as defined in the Plan). A participant’s loan is secured by his or her Plan account balance. Loans made prior to January 1, 2006, bear interest at fixed rates based on the average borrowing rates of certain major banks. Loans made on or after January 1, 2006, bear interest at fixed rates which, until changed by the Company, are based on the prime rate plus one percentage point as published in The Wall Street Journal, determined as of the last day of the calendar quarter preceding origination or such other rate as may be required by law. Loans are generally payable in installments over periods ranging from one to five years, unless the loan is used to acquire a principal residence for which the term of the loan may be up to 20 years. Principal and interest payments are allocated to the participant’s account.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to terminate the Plan subject to the provisions of ERISA. Upon termination, participants would receive distributions of their account balances.
Trustee
Banco Popular de Puerto Rico is the Plan’s trustee. 
2. Summary of Significant Accounting Policies
Basis of Accounting
The accompanying financial statements are prepared on the accrual basis of accounting.
Fair Value Measurement
The investments of the Plan are reported at fair value. Fair value is generally defined as the price that would be received to sell an asset or paid to transfer a liability (the exit price) in an orderly transaction between market participants at the measurement date (see Note 3, Fair Value Measurements).
Investment Income and Losses
Dividend income is recognized on the ex-dividend date, and interest income is recorded on an accrual basis. Unrealized gains and losses on investments are measured by the change in the difference between the fair value and cost of the securities held at the beginning of the year (or date purchased if acquired during the Plan year) and the end of the year. Realized gains and losses from security transactions are recorded based on the weighted-average cost of securities sold.
Notes Receivable from Participants
Notes receivable from participants are carried at their unpaid balance plus accrued but unpaid interest, as applicable.

6



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)


Due from/to Brokers
Purchases and sales of investments are recorded on a trade-date basis. Amounts due from and due to brokers arise from unsettled sale and purchase transactions as of December 31, 2016 and 2015.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
3. Fair Value Measurements
The Plan uses various valuation approaches in determining the fair value of investments within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the investment based on market data obtained from independent sources. Unobservable inputs are inputs that reflect assumptions about the inputs that market participants would use in pricing the investment and are developed based on the best information available in the circumstances. The fair value hierarchy is divided into three levels based on the source of inputs as follows:
Level 1 – Valuations based on unadjusted quoted prices in active markets for identical investments that the Plan has the ability to access;
Level 2 – Valuations for which all significant inputs are observable, either directly or indirectly, other than Level 1 inputs;
Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.
The availability of observable inputs can vary among the various types of investments. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used for measuring fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level of input used that is significant to the overall fair value measurement.

7



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)


The following fair value hierarchy table presents information about each major class/category of the Plan’s investments measured at fair value:
 
 
 
Fair value measurements at December 31, 2016, using
 
 
Quoted prices
in active
markets for
identical
assets
(Level 1)
 
Significant
other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
 
Total
Amgen stock
 
$
68,813,568

 
$

 
$

 
$
68,813,568

Cash and cash equivalents
 
821

 

 

 
821

Common and preferred stocks
 
68,352,683

 
563,592

 

 
68,916,275

Mutual funds
 
30,275,433

 

 

 
30,275,433

Self-directed brokerage accounts
 
1,263,948

 

 

 
1,263,948

 
 
$
168,706,453

 
$
563,592

 
$

 
$
169,270,045

Collective trust funds measured at net asset value
 
 
 
 
 
 
 
187,570,323

Total investments measured at fair value
 
 
 
 
 
 
 
$
356,840,368

 
 
 
Fair value measurements at December 31, 2015, using
 
 
Quoted prices
in  active
markets  for
identical
assets
(Level 1)
 
Significant
other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
 
Total
Amgen stock
 
$
74,742,644

 
$

 
$

 
$
74,742,644

Cash and cash equivalents
 
12,136

 

 

 
12,136

Common and preferred stocks
 
61,872,076

 
272,797

 

 
62,144,873

Mutual funds
 
35,304,246

 

 

 
35,304,246

Self-directed brokerage accounts
 
950,806

 

 

 
950,806

 
 
$
172,881,908

 
$
272,797

 
$

 
$
173,154,705

Collective trust funds measured at net asset value
 
 
 
 
 
 
 
148,619,335

Total investments measured at fair value
 
 
 
 
 
 
 
$
321,774,040


The fair values of common stocks (including Amgen stock), preferred stocks and mutual funds are valued using quoted market prices in active markets with no valuation adjustment.
Collective trust funds represent interests in pooled investment vehicles designed typically for collective investment of employee benefit trusts. The fair values of these investments are determined by reference to the net asset value per unit provided by the fund managers as a practical expedient. The unit values are based on the fair values of the trusts’ underlying assets, which are principally equity and fixed income securities and short-term investments. The only redemption restriction with respect to these investments is on the Wells Fargo Stable Value Fund W (fair value of $25,581,255 as of December 31, 2016), which requires a one-year notice to be given in the event of complete liquidation.


8



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)


4. Income Tax Status
The Plan received a determination letter from the Puerto Rico Treasury Department (PRTD) dated June 20, 2016, with an effective date of January 1, 2012, stating that the Plan meets the requirements of Section 1081.01 of the PR Code and the regulations thereunder, and, therefore the related trust forming part of the Plan is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the PR Code to maintain its qualification.
For taxable years 2016 and 2015, the Company believes the Plan satisfied, and operated in compliance with, the applicable requirements of the PR Code and therefore believes that the Plan is qualified and the related trust is tax exempt. The Company has indicated that it currently intends to continue to take the necessary steps to maintain the Plan’s compliance with the applicable requirements of the PR Code.
GAAP requires the Company to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination. As of December 31, 2016, no uncertain tax positions have been taken or are expected to be taken, and no amounts related to uncertain tax positions have been recorded in the Plan’s financial statements. The Plan is subject to audits by the PRTD, however there are currently no audits for any periods in progress. The Company believes the Plan is no longer subject to PRTD examinations with respect to annual reports for years prior to 2012.
5. Services Provided by the Company
During 2016 and 2015, the Company paid trustee fees and certain other administrative costs on behalf of the Plan.
6. Reconciliation of Financial Statements to Form 5500
The reconciliation of net assets available for benefits per the financial statements to the Form 5500 as of December 31, 2016 and 2015, consisted of the following:
 
 
 
December 31,
 
 
2016
 
2015
Net assets available for benefits per the financial statements
 
$
373,062,136

 
$
337,797,579

Adjustment to fair value for fully benefit-responsive investment contracts
 

 
113,492

Amounts allocated to withdrawing participants
 

 
(11,640
)
Deemed loans
 
(332,044
)
 
(280,900
)
Net assets per the Form 5500
 
$
372,730,092

 
$
337,618,531


9



The Retirement and Savings Plan for Amgen Manufacturing, Limited
Notes to Financial Statements (continued)


For the year ended December 31, 2016, the following is a reconciliation of the net investment gain per the financial statements to the Form 5500:
 
 
 
Year Ended
December 31,
2016
Interest and dividend income
 
$
4,045,139

Net realized/unrealized gains
 
14,163,614

Total net investment gain per the financial statements
 
18,208,753

Adjustment from fair value to contract value for interest in collective trust funds relating to fully benefit-responsive investment contracts:
 
 
Less prior year adjustment
 
(113,492
)
Total net investment gain per the Form 5500
 
$
18,095,261

For the year ended December 31, 2016, the following is a reconciliation of distributions per the financial statements to the Form 5500:
 
 
 
Year Ended
December 31,
2016
Benefits paid
 
$
(10,928,488
)
Investment and administrative fees
 
(486,082
)
Total distributions per the financial statements
 
(11,414,570
)
Add prior year amounts allocated to withdrawing participants
 
11,640

Add prior year deemed loan balance
 
280,900

Less current year deemed loan balance
 
(332,044
)
Total distributions per the Form 5500
 
$
(11,454,074
)

10


Supplemental Schedule
The Retirement and Savings Plan for Amgen Manufacturing, Limited
EIN: 98-0210484 Plan: #001
As of December 31, 2016
Schedule H, line 4i – Schedule of Assets (Held at End of Year)
 
 
Identity of Issue
 
Description of Investment
 
Current Value
 
 
 
 
 
 
 
Amgen stock
 
Employer Securities 470,649 shares
 
$
68,813,568

 
 
 
 
 
 
 
$
68,813,568

Capital Preservation Asset Class:
 
 
 
 
 
 
Wells Fargo Stable Value Fund W*
 
Collective trust funds 477,977 shares
 
25,581,255

 
 
NT Collective Short Term Investment Fund*
 
Collective trust funds 1,629,221 shares
 
1,629,221



Total Capital Preservation Asset Class
 
 
 
 
27,210,476

 
 
 
 
 
 
Emerging Markets Equity Asset Class:
 
 
 
 
 
 
Blackrock FTSE RAFI Emerging Index Non Lendable Fund F*
 
Collective trust funds 356,767 shares
 
3,674,097

 
 
J.P. Morgan Emerging Markets Equity Focus Fund*
 
Collective trust funds 197,073 shares
 
3,356,160

 
 
NT Collective Emerging Markets Fund - Non Lending*
 
Collective trust funds 4,690 shares
 
660,383

 
Total Emerging Markets Equity Asset Class
 
 
 
 
7,690,640

 
 
 
 
 
 
 
Fixed Income Asset Class:
 
 
 
 
 
 
J.P. Morgan Core Bond Fund*
 
Collective trust funds 590,328 shares
 
10,549,168

 
 
Metropolitan West Funds Total Return Bond Fund Plan Class*
 
Collective trust funds 1,062,740 shares
 
10,531,751

 
 
Blackrock High Yield Bond Fund Class A
 
Mutual Fund 471,258 shares
 
3,600,409

 
 
NT Collective Aggregate Bond Index Fund - Non Lending*
 
Collective trust funds 11,858 shares
 
1,609,215



 
NT Collective Short Term Investment Fund*
 
Collective trust funds 700,770 shares
 
700,770

 
Total Fixed Income Asset Class
 
 
 
 
26,991,313

 
 
 
 
 
 
 
Fixed Income Index Asset Class:
 
 
 
 


 
NT Collective Aggregate Bond Index Fund - Non Lending*
 
Collective trust funds 23,338 shares
 
3,167,233

 
 
NT Collective Short Term Investment Fund*
 
Collective trust funds 776 shares
 
776

 
Total Fixed Income Index Asset Class
 
 
 
 
3,168,009

 
 
 
 
 
 
 
High Yield Asset Class:
 
 
 
 
 
 
MainStay High Yield Corporate Bond Fund Class I
 
Mutual Fund 637,276 shares
 
3,657,966

 
Total High Yield Asset Class
 
 
 
 
3,657,966

 
 
 
 
 
 
 
Inflation Protection Asset Class:
 
 
 
 
 
 
NT Collective Treasury Inflation/Protected Securities Index Fund - Non Lending*
 
Collective trust funds 25,294 shares
 
3,474,872

 
Total Inflation Protection Asset Class
 
 
 
 
3,474,872

 
 
 
 
 
 
 
International Growth Asset Class:
 
 
 
 
 
 
MFS Institutional International Equity Fund
 
Mutual Fund 166,854 shares
 
3,380,453

 
 
Artisan International Fund*
 
Collective trust funds 173,860 shares
 
3,150,352

 
 
NT Collective EAFE Index Fund - Non Lending*
 
Collective trust funds 1,472 shares
 
382,838

 
 
United States dollar
 
Cash and cash equivalents 84 shares
 
84

 
Total International Growth Asset Class
 
 
 
 
6,913,727

 
 
 
 
 
 
 
International Index Asset Class:
 
 
 
 
 

11

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
NT Collective All Country World Index (ACWI) Ex/US Fund - Non Lending*
 
Collective trust funds 54,548 shares
 
6,813,106

 
Total International Index Asset Class
 
 
 
 
6,813,106

 
 
 
 
 
 
 
International Value Asset Class:
 
 
 
 
 
 
Dodge & Cox International Fund
 
Mutual Fund 232,844 shares
 
8,871,344

 
 
Altrinsic International Equity Fund Class C*
 
Collective trust funds 843,014 shares
 
8,191,818

 
 
NT Collective EAFE Index Fund - Non Lending*
 
Collective trust funds 7,614 shares
 
1,980,002

 
Total International Value Asset Class
 
 
 
 
19,043,164

 
 
 
 
 
 
 
Large Cap Growth Asset Class:
 
 
 
 
 
 
Visa Inc. Class A
 
Common and preferred stocks 20,038 shares
 
1,563,365

 
 
NT Collective Russell 1000 Growth Index Fund - Non Lending*
 
Collective trust funds 4,709 shares
 
1,491,251

 
 
Amazon.com, Inc.
 
Common and preferred stocks 1,658 shares
 
1,243,284

 
 
Facebook, Inc.
 
Common and preferred stocks 9,393 shares
 
1,080,665

 
 
The Priceline Group Inc.
 
Common and preferred stocks 666 shares
 
976,396

 
 
Alphabet Inc. Class A
 
Common and preferred stocks 992 shares
 
786,110

 
 
NT Collective Short Term Investment Fund*
 
Collective trust funds 720,059 shares
 
720,059

 
 
Apple Inc.
 
Common and preferred stocks 6,138 shares
 
710,903

 
 
salesforce.com, inc.
 
Common and preferred stocks 10,285 shares
 
704,111

 
 
Regeneron Pharmaceuticals, Inc.
 
Common and preferred stocks 1,529 shares
 
561,281

 
 
Chipotle Mexican Grill, Inc.
 
Common and preferred stocks 1,443 shares
 
544,473

 
 
Netflix, Inc.
 
Common and preferred stocks 4,255 shares
 
526,769

 
 
FleetCor Technologies, Inc.
 
Common and preferred stocks 3,496 shares
 
494,754

 
 
Alphabet Inc. Class C
 
Common and preferred stocks 595 shares
 
459,233

 
 
The Charles Schwab Corporation
 
Common and preferred stocks 10,670 shares
 
421,145

 
 
Edwards Lifesciences Corporation
 
Common and preferred stocks 4,438 shares
 
415,841

 
 
Schlumberger Ltd.
 
Common and preferred stocks 4,860 shares
 
407,997

 
 
Ecolab Inc.
 
Common and preferred stocks 3,310 shares
 
387,998

 
 
Mondelez International, Inc.
 
Common and preferred stocks 8,080 shares
 
358,186

 
 
Automatic Data Processing, Inc.
 
Common and preferred stocks 3,442 shares
 
353,769

 
 
Alexion Pharmaceuticals, Inc.
 
Common and preferred stocks 2,860 shares
 
349,921

 
 
Microsoft Corporation
 
Common and preferred stocks 5,520 shares
 
343,013

 
 
Nike, Inc. Class B
 
Common and preferred stocks 6,618 shares
 
336,393

 
 
Core Laboratories N.V.
 
Common and preferred stocks 2,777 shares
 
333,351

 
 
Colgate-Palmolive Company
 
Common and preferred stocks 4,990 shares
 
326,546

 
 
Alibaba Group Holding Ltd.
 
Common and preferred stocks 3,635 shares
 
319,189

 
 
Adobe Systems Inc.
 
Common and preferred stocks 3,100 shares
 
319,145

 
 
SAP SE
 
Common and preferred stocks 3,512 shares
 
303,542

 
 
Lowes Companies, Inc.
 
Common and preferred stocks 4,268 shares
 
303,540

 
 
Whole Foods Market, Inc.
 
Common and preferred stocks 9,614 shares
 
295,727

 
 
Alliance Data Systems Corporation
 
Common and preferred stocks 1,278 shares
 
292,023

 
 
Red Hat, Inc.
 
Common and preferred stocks 4,091 shares
 
285,143

 
 
Starbucks Corporation
 
Common and preferred stocks 5,124 shares
 
284,484

 
 
Equinix Inc.
 
Common and preferred stocks 789 shares
 
281,996

 
 
Novo Nordisk A-S
 
Common and preferred stocks 7,647 shares
 
274,221

 
 
Biogen Inc.
 
Common and preferred stocks 950 shares
 
269,401

 
 
Biomarin Pharmaceutical Inc.
 
Common and preferred stocks 3,165 shares
 
262,189

 
 
Cerner Corporation
 
Common and preferred stocks 5,312 shares
 
251,629

 
 
Monster Beverage Corp
 
Common and preferred stocks 5,455 shares
 
241,875

 
 
Illumina, Inc.
 
Common and preferred stocks 1,875 shares
 
240,075

 

12

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
Ulta Salon, Cosmetics & Fragrance, Inc.
 
Common and preferred stocks 913 shares
 
232,760

 
 
Baidu, Inc.
 
Common and preferred stocks 1,415 shares
 
232,640

 
 
Mastercard Inc. Class A
 
Common and preferred stocks 2,173 shares
 
224,362

 
 
Splunk Inc.
 
Common and preferred stocks 4,075 shares
 
208,436

 
 
State Street Corporation
 
Common and preferred stocks 2,626 shares
 
204,093

 
 
Procter & Gamble Company
 
Common and preferred stocks 2,426 shares
 
203,978

 
 
TJX Companies, Inc.
 
Common and preferred stocks 2,617 shares
 
196,615

 
 
Incyte Corporation
 
Common and preferred stocks 1,890 shares
 
189,510

 
 
Kansas City Southern
 
Common and preferred stocks 2,231 shares
 
189,300

 
 
Palo Alto Networks, Inc.
 
Common and preferred stocks 1,490 shares
 
186,325

 
 
FedEx Corporation
 
Common and preferred stocks 993 shares
 
184,897

 
 
UnitedHealth Group Inc.
 
Common and preferred stocks 1,150 shares
 
184,046

 
 
Lam Resh Corporation
 
Common and preferred stocks 1,729 shares
 
182,807

 
 
Caterpillar Inc.
 
Common and preferred stocks 1,920 shares
 
178,061

 
 
Celgene Corporation
 
Common and preferred stocks 1,498 shares
 
173,394

 
 
Delta Air Lines, Inc.
 
Common and preferred stocks 3,360 shares
 
165,278

 
 
Thermo Fisher Corporation
 
Common and preferred stocks 1,169 shares
 
164,946

 
 
Mobileye N.V.
 
Common and preferred stocks 4,200 shares
 
160,104

 
 
athenahealth, Inc.
 
Common and preferred stocks 1,515 shares
 
159,333

 
 
Intuitive Surgical, Inc.
 
Common and preferred stocks 249 shares
 
157,908

 
 
Pioneer Natural Resources
 
Common and preferred stocks 845 shares
 
152,159

 
 
Royal Carribbean Cruises Ltd.
 
Common and preferred stocks 1,840 shares
 
150,954

 
 
Diamondback Energy Inc.
 
Common and preferred stocks 1,453 shares
 
146,840

 
 
Masco Corporation
 
Common and preferred stocks 4,620 shares
 
146,084

 
 
Kraft Heinz Foods Company
 
Common and preferred stocks 1,650 shares
 
144,078

 
 
NXP Semiconductors N.V.
 
Common and preferred stocks 1,329 shares
 
130,255

 
 
Broadcom Ltd.
 
Common and preferred stocks 734 shares
 
129,749

 
 
ServiceNow, Inc.
 
Common and preferred stocks 1,700 shares
 
126,378

 
 
Micron Technology, Inc.
 
Common and preferred stocks 5,550 shares
 
121,656

 
 
Fidelity National Information Services Inc.
 
Common and preferred stocks 1,571 shares
 
118,830

 
 
Applied Materials, Inc.
 
Common and preferred stocks 3,660 shares
 
118,108

 
 
Newell Rubbermaid Inc.
 
Common and preferred stocks 2,560 shares
 
114,304

 
 
CME Group Inc.
 
Common and preferred stocks 936 shares
 
107,968

 
 
CSX Corporation
 
Common and preferred stocks 3,000 shares
 
107,790

 
 
Panera Bread Company Class A
 
Common and preferred stocks 523 shares
 
107,262

 
 
Citizens Financial Group, Inc.
 
Common and preferred stocks 3,010 shares
 
107,246

 
 
Wynn Resorts, Ltd.
 
Common and preferred stocks 1,231 shares
 
106,494

 
 
Analog Devices, Inc.
 
Common and preferred stocks 1,440 shares
 
104,573

 
 
S&P Global Inc.
 
Common and preferred stocks 965 shares
 
103,776

 
 
Dollar Tree, Inc.
 
Common and preferred stocks 1,280 shares
 
98,790

 
 
Albemarle Corporation
 
Common and preferred stocks 1,089 shares
 
93,741

 
 
Dexcom, Inc.
 
Common and preferred stocks 1,500 shares
 
89,550

 
 
Kellogg Company
 
Common and preferred stocks 1,186 shares
 
87,420

 
 
Vantiv, Inc.
 
Common and preferred stocks 1,390 shares
 
82,872



 
Deere & Company
 
Common and preferred stocks 800 shares
 
82,432

 
 
eBay Inc.
 
Common and preferred stocks 2,740 shares
 
81,351

 
 
LendingClub Corporation
 
Common and preferred stocks 14,750 shares
 
77,438

 
 
Under Armour, Inc. Class A
 
Common and preferred stocks 2,655 shares
 
77,128



 
Nordstrom, Inc.
 
Common and preferred stocks 1,460 shares
 
69,978

 
 
Under Armour, Inc. Class C
 
Common and preferred stocks 2,673 shares
 
67,279

 

13

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
L3 Technologies Inc.
 
Common and preferred stocks 420 shares
 
63,886

 
 
Halliburton Company
 
Common and preferred stocks 1,110 shares
 
60,040

 
 
Pinnacle Foods Inc.
 
Common and preferred stocks 830 shares
 
44,364

 
 
CBS Corporation Class B
 
Common and preferred stocks 630 shares
 
40,081

 
Total Large Cap Growth Asset Class
 
 
 
 
27,360,640

 
 
 
 
 
 
 
Large Cap Index Asset Class:
 
 
 
 
 
 
NT Collective S&P 500 Index Fund – Non Lending*
 
Collective trust funds 10,370 shares
 
77,941,514

 
Total Large Cap Index Asset Class
 
 
 
 
77,941,514

 
 
 
 
 
 
 
Large Cap Value Asset Class:
 
 
 
 
 
 
NT Collective Russell 1000 Value Index Fund - Non Lending*
 
Collective trust funds 2,208 shares
 
700,826

 
 
Oracle Corporation
 
Common and preferred stocks 10,654 shares
 
409,643

 
 
National Oilwell Varco, Inc.
 
Common and preferred stocks 10,462 shares
 
391,697

 
 
Anthem Inc.
 
Common and preferred stocks 1,824 shares
 
262,236

 
 
Time Warner Inc.
 
Common and preferred stocks 2,641 shares
 
254,936

 
 
Bank of New York Mellon Corporation
 
Common and preferred stocks 5,258 shares
 
249,124

 
 
Axis Capital Holdings Ltd.
 
Common and preferred stocks 3,595 shares
 
234,646

 
 
NT Collective Short Term Investment Fund*
 
Collective trust funds 230,974 shares
 
230,974

 
 
Swiss Re AG
 
Common and preferred stocks 2,353 shares
 
223,412

 
 
McKesson Corporation
 
Common and preferred stocks 1,588 shares
 
223,035

 
 
CVS Health Corporation
 
Common and preferred stocks 2,781 shares
 
219,449

 
 
Bank of America Corporation*
 
Common and preferred stocks 9,900 shares
 
218,790

 
 
Capital One Financial Corporation
 
Common and preferred stocks 2,450 shares
 
213,738

 
 
The Charles Schwab Corporation
 
Common and preferred stocks 5,250 shares
 
207,218

 
 
Wells Fargo & Company*
 
Common and preferred stocks 3,750 shares
 
206,663

 
 
GKN plc
 
Common and preferred stocks 48,882 shares
 
200,350

 
 
State Street Corporation
 
Common and preferred stocks 2,561 shares
 
199,041

 
 
AmerisourceBergen Corporation
 
Common and preferred stocks 2,543 shares
 
198,837

 
 
Cisco Systems, Inc.
 
Common and preferred stocks 6,483 shares
 
195,916

 
 
Discovery Communications, Inc. Series C
 
Common and preferred stocks 7,224 shares
 
193,459

 
 
The Goldman Sachs Group, Inc.
 
Common and preferred stocks 800 shares
 
191,560

 
 
Hilton Worldwide Holdings Inc.
 
Common and preferred stocks 6,858 shares
 
186,538

 
 
Hewlett Packard Enterprise Company
 
Common and preferred stocks 7,750 shares
 
179,335

 
 
Visa Inc. Class A
 
Common and preferred stocks 2,236 shares
 
174,453

 
 
Everest Re Group
 
Common and preferred stocks 802 shares
 
173,553

 
 
Mastercard Inc. Class A
 
Common and preferred stocks 1,628 shares
 
168,091

 
 
Cardinal Health, Inc.
 
Common and preferred stocks 2,282 shares
 
164,236

 
 
Charter Communications, Inc. Class A
 
Common and preferred stocks 557 shares
 
160,371

 
 
Sanofi-Aventis
 
Common and preferred stocks 3,950 shares
 
159,738

 
 
Qorvo, Inc.
 
Common and preferred stocks 2,828 shares
 
149,120

 
 
Comcast Corporation Class A
 
Common and preferred stocks 2,150 shares
 
148,458

 
 
Microsoft Corporation
 
Common and preferred stocks 2,300 shares
 
142,922

 
 
Skyworks Solutions Inc.
 
Common and preferred stocks 1,897 shares
 
141,630

 
 
UnitedHealth Group Inc.
 
Common and preferred stocks 855 shares
 
136,834

 
 
Boeing Company
 
Common and preferred stocks 870 shares
 
135,442

 
 
Novartis AG
 
Common and preferred stocks 1,850 shares
 
134,754

 
 
J.P. Morgan Chase & Company*
 
Common and preferred stocks 1,500 shares
 
129,435

 
 
Schlumberger Ltd.
 
Common and preferred stocks 1,500 shares
 
125,925

 
 
CBRE Group Inc. Class A
 
Common and preferred stocks 3,977 shares
 
125,236

 

14

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
FedEx Corporation
 
Common and preferred stocks 650 shares
 
121,030

 
 
MetLife, Inc.*
 
Common and preferred stocks 2,200 shares
 
118,558

 
 
Alphabet Inc. Class C
 
Common and preferred stocks 150 shares
 
115,773

 
 
Franklin Resources, Inc.
 
Common and preferred stocks 2,898 shares
 
114,703

 
 
Walt Disney Company
 
Common and preferred stocks 1,095 shares
 
114,121

 
 
InterContinental Hotels Group plc
 
Common and preferred stocks 2,561 shares
 
113,529

 
 
American Express Company
 
Common and preferred stocks 1,500 shares
 
111,120

 
 
Fossil Group, Inc.
 
Common and preferred stocks 3,991 shares
 
103,207

 
 
Aetna Inc.
 
Common and preferred stocks 829 shares
 
102,804

 
 
Twenty-First Century Fox, Inc. Class A
 
Common and preferred stocks 3,650 shares
 
102,346

 
 
Apache Corporation
 
Common and preferred stocks 1,600 shares
 
101,552

 
 
Hewlett-Packard, Inc.
 
Common and preferred stocks 6,400 shares
 
94,976

 
 
Cigna Corporation
 
Common and preferred stocks 700 shares
 
93,373

 
 
Wal-Mart Stores, Inc.
 
Common and preferred stocks 1,250 shares
 
86,400

 
 
Parker-Hannifin Corporation
 
Common and preferred stocks 602 shares
 
84,280

 
 
Anadarko Petroleum Corporation
 
Common and preferred stocks 1,150 shares
 
80,190

 
 
Roche Holdings Ltd.
 
Common and preferred stocks 2,800 shares
 
79,884

 
 
Sabre Corporation
 
Common and preferred stocks 3,179 shares
 
79,316

 
 
Baker Hughes Inc. 7.5% Due 11/15/2018
 
Common and preferred stocks 1,200 shares
 
77,964

 
 
Union Pacific Corporation
 
Common and preferred stocks 740 shares
 
76,723

 
 
Sprint Corporation
 
Common and preferred stocks 9,024 shares
 
75,982

 
 
Express Scripts Holding Company
 
Common and preferred stocks 1,100 shares
 
75,669

 
 
Bristol-Myers Squibb Company
 
Common and preferred stocks 1,250 shares
 
73,050

 
 
TE Connectivity Ltd.
 
Common and preferred stocks 900 shares
 
62,352

 
 
AstraZeneca plc
 
Common and preferred stocks 2,250 shares
 
61,470

 
 
Celanese Corporation
 
Common and preferred stocks 750 shares
 
59,055

 
 
BB&T Corporation
 
Common and preferred stocks 1,250 shares
 
58,775

 
 
The Priceline Group Inc.
 
Common and preferred stocks 40 shares
 
58,642

 
 
Merck & Co., Inc.
 
Common and preferred stocks 850 shares
 
50,040

 
 
Corning Inc.
 
Common and preferred stocks 2,000 shares
 
48,540

 
 
Dish Network Corporation Class A
 
Common and preferred stocks 800 shares
 
46,344

 
 
NetApp, Inc.
 
Common and preferred stocks 1,300 shares
 
45,851

 
 
Medtronic plc
 
Common and preferred stocks 640 shares
 
45,587

 
 
Maxim Integrated Products, Inc.
 
Common and preferred stocks 1,150 shares
 
44,356

 
 
Target Corporation
 
Common and preferred stocks 600 shares
 
43,338

 
 
Synopsys, Inc.
 
Common and preferred stocks 700 shares
 
41,202

 
 
Johnson Controls International plc
 
Common and preferred stocks 993 shares
 
40,902

 
 
Concho Resources Inc.
 
Common and preferred stocks 300 shares
 
39,780

 
 
Dell Technologies Inc. Class V
 
Common and preferred stocks 712 shares
 
39,139

 
 
VMware Inc. Class A
 
Common and preferred stocks 450 shares
 
35,429

 
 
Alphabet Inc. Class A
 
Common and preferred stocks 40 shares
 
31,698

 
 
Aegon N.V.*
 
Common and preferred stocks 5,700 shares
 
31,521

 
 
Harley-Davidson
 
Common and preferred stocks 500 shares
 
29,170

 
 
Danaher Corporation
 
Common and preferred stocks 350 shares
 
27,244

 
 
Coach, Inc.
 
Common and preferred stocks 750 shares
 
26,265

 
 
Liberty Interactive Corporation
 
Common and preferred stocks 1,100 shares
 
21,978

 
 
Twenty-First Century Fox, Inc. Class B
 
Common and preferred stocks 800 shares
 
21,800



 
Zayo Group Holdings Inc.
 
Common and preferred stocks 600 shares
 
19,716

 
 
Juniper Networks, Inc.
 
Common and preferred stocks 600 shares
 
16,956

 
 
Alnylam Pharmaceuticals, Inc.
 
Common and preferred stocks 400 shares
 
14,976

 

15

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
Weatherford International Ltd.
 
Common and preferred stocks 2,000 shares
 
9,980

 
 
Swiss Re AG
 
Common and preferred stocks 91 shares
 
8,636

 
 
Adient plc
 
Common and preferred stocks 99 shares
 
5,801

 
 
News Corporation Class A
 
Common and preferred stocks 500 shares
 
5,730



Total Large Cap Value Asset Class
 
 
 
 
11,450,444

 
 
 
 
 
 
Participant Self-Directed Accounts
 
Various Investments
 
1,263,948

 
 
 
 
 
 
 
1,263,948

Real Estate Investment Trust (REIT) Asset Class:
 
 
 
 
 
 
Vanguard Specialized Portfolios REIT Index Fund Institutional Class
 
Mutual Fund 508,554 shares
 
9,199,749

 
 
NT Collective Short Term Investment Fund*
 
Collective trust funds 594,457 shares
 
594,457

 
Total Real Estate Investment Trust (REIT) Asset Class
 
 
 
 
9,794,206

 
 
 
 
 
 
 
Small-Mid Cap Growth Asset Class:
 
 
 
 
 
 
Wasatch Small Cap Growth Fund
 
Mutual Fund 39,354 shares
 
1,565,511

 
 
NT Collective Russell 2000 Growth Index Fund - Non Lending*
 
Collective trust funds 901 shares
 
253,028

 
 
Idexx Laboratories, Inc.
 
Common and preferred stocks 496 shares
 
58,166

 
 
Mobileye N.V.
 
Common and preferred stocks 1,491 shares
 
56,837

 
 
WellCare Health Plans, Inc.
 
Common and preferred stocks 308 shares
 
42,221

 
 
Micron Technology, Inc.
 
Common and preferred stocks 1,840 shares
 
40,333

 
 
BorgWarner Inc.
 
Common and preferred stocks 1,020 shares
 
40,229

 
 
ServiceNow, Inc.
 
Common and preferred stocks 523 shares
 
38,880

 
 
CommScope Holding Company, Inc.
 
Common and preferred stocks 1,007 shares
 
37,460

 
 
Align Technology, Inc.
 
Common and preferred stocks 382 shares
 
36,722

 
 
Royal Caribbean Cruises Ltd.
 
Common and preferred stocks 440 shares
 
36,098

 
 
Middleby Corporation
 
Common and preferred stocks 280 shares
 
36,067

 
 
Burlington Stores, Inc.
 
Common and preferred stocks 423 shares
 
35,849

 
 
Tenneco Inc.
 
Common and preferred stocks 570 shares
 
35,608

 
 
Zions Bancorporation
 
Common and preferred stocks 800 shares
 
34,432

 
 
Stamps.com Inc.
 
Common and preferred stocks 285 shares
 
32,675

 
 
E*TRADE Financial Corporation
 
Common and preferred stocks 910 shares
 
31,532

 
 
Spirit Airlines, Inc.
 
Common and preferred stocks 540 shares
 
31,244

 
 
AMETEK, Inc.
 
Common and preferred stocks 640 shares
 
31,104

 
 
Vail Resorts Inc.
 
Common and preferred stocks 190 shares
 
30,649

 
 
Newfield Exploration Company
 
Common and preferred stocks 740 shares
 
29,970

 
 
Ulta Salon, Cosmetics & Fragrance, Inc.
 
Common and preferred stocks 112 shares
 
28,553

 
 
Snyder's-Lance Inc.
 
Common and preferred stocks 730 shares
 
27,988

 
 
First Republic Bank
 
Common and preferred stocks 300 shares
 
27,642

 
 
NuVasive, Inc.
 
Common and preferred stocks 390 shares
 
26,270

 
 
Genesee & Wyoming Inc. Class A
 
Common and preferred stocks 350 shares
 
24,294

 
 
Nevro Corporation
 
Common and preferred stocks 327 shares
 
23,760

 
 
RingCentral, Inc. Class A
 
Common and preferred stocks 1,130 shares
 
23,278

 
 
Albemarle Corporation
 
Common and preferred stocks 270 shares
 
23,242

 
 
Universal Display Corporation
 
Common and preferred stocks 362 shares
 
20,381

 
 
iRobot Corporation
 
Common and preferred stocks 340 shares
 
19,873

 
 
TESARO Inc.
 
Common and preferred stocks 145 shares
 
19,500

 
 
Diamondback Energy Inc.
 
Common and preferred stocks 190 shares
 
19,201

 
 
Imax Corp
 
Common and preferred stocks 610 shares
 
19,154

 
 
Square Inc. Class A
 
Common and preferred stocks 1,380 shares
 
18,809

 
 
U.S. Concrete, Inc.
 
Common and preferred stocks 277 shares
 
18,144

 

16

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
CommVault Systems, Inc.
 
Common and preferred stocks 340 shares
 
17,476

 
 
Radian Group Inc.
 
Common and preferred stocks 960 shares
 
17,261

 
 
Vocera Communications Inc.
 
Common and preferred stocks 930 shares
 
17,196

 
 
Booz Allen Hamilton Holding Corporation Class A
 
Common and preferred stocks 470 shares
 
16,953

 
 
Mettler-Toledo International Inc.
 
Common and preferred stocks 40 shares
 
16,742

 
 
Cognex Corporation
 
Common and preferred stocks 260 shares
 
16,541

 
 
Nordstrom, Inc.
 
Common and preferred stocks 340 shares
 
16,296

 
 
U.S. Silica Holdings Inc.
 
Common and preferred stocks 280 shares
 
15,870

 
 
Take Two Interactive Software Inc.
 
Common and preferred stocks 320 shares
 
15,773

 
 
Inter Parfums, Inc.
 
Common and preferred stocks 480 shares
 
15,720

 
 
HealthSouth Corporation
 
Common and preferred stocks 380 shares
 
15,671

 
 
Five9 Inc.
 
Common and preferred stocks 1,066 shares
 
15,127

 
 
MINDBODY Inc. Class A
 
Common and preferred stocks 710 shares
 
15,123

 
 
Comerica Inc.
 
Common and preferred stocks 220 shares
 
14,984

 
 
K2M Group Holdings, Inc.
 
Common and preferred stocks 714 shares
 
14,309

 
 
Trimble Inc.
 
Common and preferred stocks 460 shares
 
13,869

 
 
MKS Instruments, Inc.
 
Common and preferred stocks 220 shares
 
13,068

 
 
Panera Bread Company Class A
 
Common and preferred stocks 60 shares
 
12,305

 
 
Dycom Industries, Inc.
 
Common and preferred stocks 153 shares
 
12,284

 
 
Coherent, Inc.
 
Common and preferred stocks 89 shares
 
12,227

 
 
Vantiv, Inc.
 
Common and preferred stocks 200 shares
 
11,924

 
 
Grubhub Inc.
 
Common and preferred stocks 300 shares
 
11,286

 
 
Match Group Inc.
 
Common and preferred stocks 660 shares
 
11,286

 
 
ABIOMED, Inc.
 
Common and preferred stocks 100 shares
 
11,268

 
 
Norwegian Cruise Line Holdings Ltd.
 
Common and preferred stocks 260 shares
 
11,058

 
 
Mercury Systems, Inc.
 
Common and preferred stocks 350 shares
 
10,577

 
 
Dave & Buster's Entertainment, Inc.
 
Common and preferred stocks 180 shares
 
10,134

 
 
Shopify Inc.
 
Common and preferred stocks 235 shares
 
10,074

 
 
Coherus Biosciences, Inc.
 
Common and preferred stocks 322 shares
 
9,064

 
 
Lexicon Pharmaceuticals, Inc.
 
Common and preferred stocks 637 shares
 
8,810

 
 
CACI International Inc.
 
Common and preferred stocks 70 shares
 
8,701

 
 
Microsemi Corporation
 
Common and preferred stocks 160 shares
 
8,635

 
 
NT Collective Short Term Investment Fund*
 
Collective trust funds 8,424 shares
 
8,424

 
 
Wabash National Corporation
 
Common and preferred stocks 520 shares
 
8,226

 
 
PVH Corporation
 
Common and preferred stocks 90 shares
 
8,122

 
 
Expedia, Inc.
 
Common and preferred stocks 70 shares
 
7,930

 
 
Parsley Energy Inc. Class A
 
Common and preferred stocks 225 shares
 
7,929

 
 
Whiting Petroleum Corporation
 
Common and preferred stocks 640 shares
 
7,693

 
 
ViaSat, Inc.
 
Common and preferred stocks 115 shares
 
7,615

 
 
Ultragenyx Pharmaceutical Inc.
 
Common and preferred stocks 100 shares
 
7,031

 
 
Zumiez Inc.
 
Common and preferred stocks 320 shares
 
6,992



 
Jack in the Box Inc.
 
Common and preferred stocks 60 shares
 
6,698

 
 
bluebird bio Inc.
 
Common and preferred stocks 90 shares
 
5,553

 
 
Proofpoint, Inc.
 
Common and preferred stocks 76 shares
 
5,369

 
 
Intra-Cellular Therapies, Inc.
 
Common and preferred stocks 322 shares
 
4,859



 
Neurocrine Biosciences, Inc.
 
Common and preferred stocks 120 shares
 
4,644

 
Total Small-Mid Cap Growth Asset Class
 
 
 
 
3,399,401

 
 
 
 
 
 
 
Small-Mid Cap Index Asset Class:
 
 
 
 
 
 
 NT Collective Extended Equity Market Index Fund - Non Lending*
 
Collective trust funds 103,404 shares
 
16,733,919

 

17

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
Total Small-Mid Cap Index Asset Class
 
 
 
 
16,733,919

 
 
 
 
 
 
 
Small-Mid Cap Value Asset Class:
 
 
 
 
 
 
NT Collective Russell 2000 Value Index Fund - Non Lending*
 
Collective trust funds 7,371 shares
 
2,115,769

 
 
NT Collective Short Term Investment Fund*
 
Collective trust funds 1,319,047 shares
 
1,319,047

 
 
Popular, Inc.*
 
Common and preferred stocks 16,640 shares
 
729,155

 
 
ARRIS International plc
 
Common and preferred stocks 17,045 shares
 
513,566

 
 
Tri Pointe Homes, Inc.
 
Common and preferred stocks 43,250 shares
 
496,510

 
 
Citigroup Inc.
 
Common and preferred stocks 11,010 shares
 
469,907

 
 
Whiting Petroleum Corporation
 
Common and preferred stocks 36,600 shares
 
439,932

 
 
Bio-Rad Laboratories, Inc. Class A
 
Common and preferred stocks 2,405 shares
 
438,383

 
 
Mitel Networks Corporation
 
Common and preferred stocks 61,150 shares
 
415,820

 
 
NRG Energy, Inc.
 
Common and preferred stocks 30,200 shares
 
370,252

 
 
Haverty Furniture Companies, Inc.
 
Common and preferred stocks 15,200 shares
 
360,240

 
 
Citizens Financial Group, Inc.
 
Common and preferred stocks 9,800 shares
 
349,174

 
 
Regions Financial Corporation
 
Common and preferred stocks 24,200 shares
 
347,512

 
 
Corning Inc.
 
Common and preferred stocks 14,100 shares
 
342,207

 
 
Lattice Semiconductor Company
 
Common and preferred stocks 46,030 shares
 
338,781

 
 
Office Depot, Inc.
 
Common and preferred stocks 74,500 shares
 
336,740

 
 
Goodyear Tire & Rubber Company
 
Common and preferred stocks 10,900 shares
 
336,483

 
 
Western Alliance Bancorporation
 
Common and preferred stocks 6,756 shares
 
329,085

 
 
Calpine Corporation
 
Common and preferred stocks 28,500 shares
 
325,755

 
 
Ericsson
 
Common and preferred stocks 55,800 shares
 
325,314

 
 
Kosmos Energy Ltd.
 
Common and preferred stocks 44,800 shares
 
314,048

 
 
Pacwest Bancorp Company
 
Common and preferred stocks 5,725 shares
 
311,669

 
 
Newfield Exploration Company
 
Common and preferred stocks 7,410 shares
 
300,105

 
 
Ophir Energy Company
 
Common and preferred stocks 120,500 shares
 
287,368

 
 
Coherent, Inc.
 
Common and preferred stocks 2,075 shares
 
285,074

 
 
Kemper Corporation
 
Common and preferred stocks 6,360 shares
 
281,748

 
 
Treehouse Foods, Inc.
 
Common and preferred stocks 3,880 shares
 
280,097

 
 
Axis Capital Holdings Ltd.
 
Common and preferred stocks 4,280 shares
 
279,356

 
 
Ramco-Gershenson Properties Trust
 
Common and preferred stocks 16,720 shares
 
277,218

 
 
EnerSys
 
Common and preferred stocks 3,540 shares
 
276,474

 
 
Cairn Energy plc
 
Common and preferred stocks 45,900 shares
 
267,588

 
 
Forestar Group Inc.
 
Common and preferred stocks 19,900 shares
 
264,670

 
 
Electronics For Imaging, Inc.
 
Common and preferred stocks 5,970 shares
 
261,844

 
 
PPDC Energy Inc.
 
Common and preferred stocks 3,505 shares
 
254,393

 
 
Materion Corporation
 
Common and preferred stocks 6,385 shares
 
252,846

 
 
Hewlett Packard Enterprise Company
 
Common and preferred stocks 10,900 shares
 
252,226

 
 
Capital Bank Financial Corporation
 
Common and preferred stocks 6,355 shares
 
249,434

 
 
Royal Mail plc
 
Common and preferred stocks 21,800 shares
 
248,738

 
 
Taylor Morrison Home Corporation
 
Common and preferred stocks 12,730 shares
 
245,180

 
 
Willis Towers Watson plc
 
Common and preferred stocks 1,998 shares
 
244,315

 
 
Orbital ATK Inc.
 
Common and preferred stocks 2,725 shares
 
239,064

 
 
CNO Financial Group, Inc.
 
Common and preferred stocks 12,480 shares
 
238,992

 
 
Equity Commonwealth
 
Common and preferred stocks 7,720 shares
 
233,453

 
 
PrivateBancorp, Inc.
 
Common and preferred stocks 4,295 shares
 
232,746

 
 
Brandywine Realty Trust
 
Common and preferred stocks 14,063 shares
 
232,180

 
 
Bed Bath & Beyond Inc.
 
Common and preferred stocks 5,700 shares
 
231,648

 
 
Ameris Bancorp
 
Common and preferred stocks 5,300 shares
 
231,080

 

18

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
Customers Bancorp, Inc.
 
Common and preferred stocks 6,430 shares
 
230,323

 
 
John B. Sanfilippo & Son, Inc.
 
Common and preferred stocks 3,259 shares
 
229,401

 
 
Libbey, Inc.
 
Common and preferred stocks 11,460 shares
 
223,012

 
 
Gulfport Energy Corporation
 
Common and preferred stocks 10,190 shares
 
220,512

 
 
Universal Electronics Inc.
 
Common and preferred stocks 3,370 shares
 
217,534

 
 
Colony Starwood Homes
 
Common and preferred stocks 7,550 shares
 
217,516

 
 
La-Z-Boy, Inc.
 
Common and preferred stocks 6,922 shares
 
214,928

 
 
The Geo Group, Inc.
 
Common and preferred stocks 5,890 shares
 
211,628

 
 
Heritage Financial Corporation
 
Common and preferred stocks 8,215 shares
 
211,536

 
 
Albany International Corporation Class A
 
Common and preferred stocks 4,565 shares
 
211,360

 
 
Discovery Communications Inc. Series A
 
Common and preferred stocks 7,600 shares
 
208,316

 
 
Synergy Resources Corporation
 
Common and preferred stocks 23,160 shares
 
206,356

 
 
Marathon Oil Corporation
 
Common and preferred stocks 11,700 shares
 
202,527

 
 
Navistar International Corporation
 
Common and preferred stocks 6,400 shares
 
200,768

 
 
Fred's Inc. Class A
 
Common and preferred stocks 10,480 shares
 
194,509

 
 
Tutor Perini Corporation
 
Common and preferred stocks 6,920 shares
 
193,760

 
 
Gramercy Property Trust
 
Common and preferred stocks 21,090 shares
 
193,606

 
 
Tetra Tech, Inc.
 
Common and preferred stocks 37,920 shares
 
190,358

 
 
The Bank of N.T. Butterfield & Son Ltd.
 
Common and preferred stocks 5,965 shares
 
187,540

 
 
Avnet, Inc.
 
Common and preferred stocks 3,900 shares
 
185,679

 
 
Accuray Inc.
 
Common and preferred stocks 40,140 shares
 
184,644

 
 
ON Semiconductor Corporation
 
Common and preferred stocks 14,400 shares
 
183,744

 
 
Great Lakes Dredge & Dock Corporation
 
Common and preferred stocks 43,330 shares
 
181,986

 
 
Northfield Bancorp Inc.
 
Common and preferred stocks 8,880 shares
 
177,334

 
 
CDW Corporation
 
Common and preferred stocks 3,400 shares
 
177,106

 
 
National Bank Holdings Corporation Class A
 
Common and preferred stocks 5,550 shares
 
176,990

 
 
Exar Corporation
 
Common and preferred stocks 16,320 shares
 
175,930

 
 
State Bank Financial Corporation
 
Common and preferred stocks 6,440 shares
 
172,978

 
 
MDC Partners Inc. Class A
 
Common and preferred stocks 26,090 shares
 
170,890

 
 
Kennedy-Wilson Holdings, Inc.
 
Common and preferred stocks 8,310 shares
 
170,355

 
 
Central Pacific Financial Corporation
 
Common and preferred stocks 5,350 shares
 
168,097

 
 
Covanta Holding Corporation
 
Common and preferred stocks 10,730 shares
 
167,388

 
 
Bunge Ltd.
 
Common and preferred stocks 2,300 shares
 
166,152

 
 
Teradyne, Inc.
 
Common and preferred stocks 6,490 shares
 
164,846

 
 
Qorvo, Inc.
 
Common and preferred stocks 3,060 shares
 
161,354

 
 
Boise Cascade Company
 
Common and preferred stocks 7,085 shares
 
159,413

 
 
Marvell Technology Group Ltd.
 
Common and preferred stocks 11,400 shares
 
158,118

 
 
First Foundation Inc.
 
Common and preferred stocks 5,540 shares
 
157,890

 
 
Fulton Financial Corporation
 
Common and preferred stocks 8,180 shares
 
153,784

 
 
Maiden Holdings Ltd.
 
Common and preferred stocks 8,760 shares
 
152,862

 
 
Microsemi Corporation
 
Common and preferred stocks 2,735 shares
 
147,608

 
 
KBR, Inc.
 
Common and preferred stocks 8,720 shares
 
145,537

 
 
FreightCar America, Inc.
 
Common and preferred stocks 9,720 shares
 
145,120

 
 
Reinsurance Group of America, Inc.
 
Common and preferred stocks 1,150 shares
 
144,705

 
 
Meridian Bancorp, Inc.
 
Common and preferred stocks 7,560 shares
 
142,884

 
 
InnerWorkings, Inc.
 
Common and preferred stocks 14,210 shares
 
139,969

 
 
Scorpio Tankers Inc.
 
Common and preferred stocks 30,810 shares
 
139,569

 
 
PHH Corporation
 
Common and preferred stocks 8,900 shares
 
134,924

 
 
ICF International, Inc.
 
Common and preferred stocks 2,430 shares
 
134,136

 
 
Lumber Liquidators Holdings Inc.
 
Common and preferred stocks 8,520 shares
 
134,105

 

19

Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)


 
Identity of Issue
 
Description of Investment
 
Current Value
 
Cedar Realty Trust, Inc.
 
Common and preferred stocks 20,360 shares
 
132,951

 
 
Babcock & Wilcox Enterprises Inc.
 
Common and preferred stocks 7,890 share