Document
Table of Contents










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
☐
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2016

Commission File Number 0-20355

Costco 401(k) Retirement Plan
(full title of plan)


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

999 Lake Drive
Issaquah, Washington 98027
(Name of issuer and address of principal executive offices of issuer)









Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Table of Contents
 
Page
Financial Statements:
 
Supplemental Information
 
Exhibit:
 
23(a) - Consent of Independent Registered Public Accounting Firm
 

Table of Contents

Report of Independent Registered Public Accounting Firm


The Benefits Committee
Costco 401(k) Retirement Plan:
We have audited the accompanying statements of net assets available for benefits of the Costco 401(k) Retirement Plan (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. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2016 and 2015, and the changes in net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.
The supplemental information in the accompanying 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 2016 financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but include supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental 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 information. In forming our opinion on the supplemental information, we evaluated whether the supplemental 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 supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2016 is fairly stated in all material respects in relation to the 2016 financial statements as a whole.

/s/ KPMG LLP
Seattle, Washington
June 15, 2017



1
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Statements of Net Assets Available for Benefits
December 31, 2016 and 2015
(in thousands)


 
 
 
 
 
 
 
2016
 
2015
Assets:
 
 
 
 
 
 
 
 
Investments at fair value:
 
 
 
 
 
Costco Wholesale Corporation common stock
$
4,606,549

 
$
4,720,350

 
 
Common commingled trust funds
2,920,636

 
2,313,903

 
 
Separately managed accounts
1,742,565

 
1,622,876

 
 
Registered investment company funds
995,090

 
866,839

 
Investments at contract value:
 
 
 
 
 
Fully benefit-responsive investment contracts
1,170,622

 
1,083,350

 
 
 
 
 
Total investments
11,435,462

 
10,607,318

 
Receivables:
 
 
 
 
 
 
Notes receivable from participants
454,622

 
432,585

 
 
Employer contributions (net of forfeitures)
300,230

 
278,537

 
 
 
 
 
Total receivables
754,852

 
711,122

 
Non-interest bearing cash
2,218

 
5,825

Net assets available for benefits
$
12,192,532

 
$
11,324,265
































See accompanying notes to financial statements.

2
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Statements of Changes in Net Assets Available for Benefits
Years Ended December 31, 2016 and 2015
(in thousands)


 
 
 
 
 
 
 
2016
 
2015
Net investment income:
 
 
 
 
Net appreciation of investments
$
312,820

 
$
555,628

 
Interest
24,234

 
23,295

 
Dividends
88,019

 
217,359

 
 
 
 
Total net investment income
425,073

 
796,282

Interest on notes receivable from participants
20,683

 
19,979

Contributions to the Plan:
 
 
 
 
Employee
487,934

 
452,191

 
Employer (net of forfeitures)
357,708

 
330,883

 
 
 
 
Total contributions
845,642

 
783,074

Distributions to participants
(423,131
)
 
(451,200
)
 
 
 
 
Net increase in net assets available for benefits
868,267

 
1,148,135

Net assets available for benefits, beginning of year
11,324,265

 
10,176,130

Net assets available for benefits, end of year
$
12,192,532

 
$
11,324,265

































See accompanying notes to financial statements.

3
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements
December 31, 2016 and 2015

(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’s provisions. Participants in the Plan are employees of Costco Wholesale Corporation (the Company or Costco).
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) of the IRC. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.

(a)
Employee Contributions

The Plan allows employees at least 18 years of age who have completed 90 days of service within a 12-consecutive-month period to make salary deferral contributions, commencing the first day of the month following the completion of 90 days of employment. Participants may contribute from 1% to 50% of their compensation before income taxes, subject to certain limitations set by the Internal Revenue Service (IRS). Participants may also contribute amounts representing distributions from other qualified benefit or contribution plans (known as rollover contributions).
All newly-eligible employees are automatically enrolled in the Plan at a contribution rate of 3% unless the employee elects otherwise. The percentage deferred into the Plan automatically increases by one percentage point on an active participant’s employment anniversary date, and each anniversary date thereafter, to a maximum automatic deferral of 20%. Employees may choose to opt out of this automatic deferral increase.
(b)
Employer Contributions

All Company contributions are made in cash and invested in accordance with investment selections made by participants. If no selection has been made, the contribution defaults to the age-based target retirement fund. Employer contributions are allocated based on an employee’s classification as either: 1) a California Union Employee; or 2) an Other-than-California Union Employee.
(1)
California Union Employees
The Company matches 50% of each employee’s contribution up to a maximum employer matching contribution of $250 per year. In addition, employees at least 18 years of age who have completed 12 consecutive months of service and worked at least 1,000 hours, calculated every pay period, are eligible for an annual employer contribution. Plan entry dates for this purpose occur on January 1 and July 1. If the minimum hours requirement is not met in the first 12 months, hours roll forward until the requirement is fulfilled. The Company makes contributions into the accounts of all eligible plan participants employed on the last day of the plan year, based on straight-time hours worked during the plan year, up to a maximum of 2,080 hours per calendar year and years of service. These contributions in 2016 and 2015 ranged from $0.05 to $0.47 per hour, totaling $4.5 million and $4.3 million, respectively.
(2)
Other-than-California Union Employees
The Company matches 50% of each employee’s contribution up to a maximum employer matching contribution of $500 per year. In addition, employees at least 18 years of age who have completed 12 consecutive months of service and worked at least 1,000 hours, calculated every pay period, are eligible for an annual discretionary employer contribution. Plan entry dates for this purpose occur on January 1 and July 1. If the minimum hours requirement is not met in the first 12 months, hours roll forward until the requirement is fulfilled. The Company makes discretionary contributions into the accounts of all eligible plan participants employed on the last day of the plan year. These

4
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2016 and 2015


contributions range from 3% to 9% of each participant's compensation based on years of service, as defined by the Plan, totaling $299.3 million and $274.2 million for the years ended December 31, 2016 and 2015, respectively.
(c)
Participants’ Accounts

Each participant’s account is credited or debited with the participant’s contributions, the Company’s contributions, plan earnings, and appreciation or depreciation in underlying securities. Participant accounts are also charged with an allocation of certain expenses based on the account balances. An example of an expense is the investment fees, which vary by investment elections. The benefit to which a participant is entitled is that available from the participant’s vested account.
(d)
Vesting

Participants are immediately vested in their contributions, actual earnings thereon, and in other contributions as defined in the Plan document. Vesting in the employer-match, employer contributions, and discretionary contributions, including actual earnings thereon, is based on years of service, according to 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

Forfeited balances of terminated participants’ non-vested accounts are used to reduce future employer contributions or to pay administrative expenses. During 2016 and 2015, forfeitures totaling $4.0 million and $3.8 million, respectively, were used to reduce employer contributions. At the end of 2016 and 2015 there was a forfeiture balance of $3.6 million and $2.9 million, respectively, which were used to offset future employer discretionary contributions. There were no unallocated forfeitures as of December 31, 2016 and 2015, after application to reduce the employer discretionary contributions. Forfeitures, without the benefit of investment gains or losses, can be restored to a participant’s account if, within five years, the participant is re-hired by the Company and repays the full amount distributed upon termination.
(f)
Investment Options

Upon enrollment in the Plan, a participant may direct the account balance into any of the investment options then available. Participants may change their options and transfer amounts between funds daily. In January 2016, participants' investment in the Company's common stock were limited to no more than 50% of their 401(k) Plan Account, including loan repayments. Participants were not forced to sell stock and may reinvest stock dividends in the Company's common stock. After the change, participants are no longer able to purchase additional stock if the total stock investment exceeds 50%. T. Rowe Price (TRP) is the trustee for all investments and the keeper of records of all participant accounts. Amounts may be temporarily invested in a cash account prior to investment in the Plan’s investment accounts.
The Capital Preservation Portfolio (CPP) is a fully benefit-responsive investment contract for the exclusive benefit of the Plan. The CPP invests in Synthetic Guaranteed Investment Contracts (SICs), Separate Account Contracts (SACs) and mutual funds.

5
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2016 and 2015


(g)
Distributions

Upon termination of employment, total disability, or death, the vested interest in a participant’s account is payable in a lump sum, or as a partial or installment distribution for eligible participants. Participants may apply for a distribution of all or a portion of the vested interest at any time after attaining age 59-1/2. Participants are also eligible to make withdrawals from their salary deferral contributions in the event of certain financial hardships. Following a hardship withdrawal, participants are not allowed to contribute to the Plan for a period of six months.
Dividends on the Company’s stock are reinvested in the participant’s Company stock account unless a distribution is requested by the participant in advance of the ex-dividend date. Dividends on the Company’s stock are reported on a gross basis, with the dividends paid reported as “Dividends” and the amounts distributed reported as “Distributions to participants” in the statements of changes in net assets available for benefits. On January 29, 2015, the Company declared a special cash dividend on Costco common stock of $5 per share, which was paid on February 27, 2015. Of the $145.4 million special dividend paid to Plan participants, approximately $91.7 million was distributed to the participants and the remaining $53.7 million was reinvested into the participants’ accounts.
(h)
Notes Receivable from Participants

A participant may borrow up to the lesser of $50,000 or 45% of the vested account balance, calculated using the participant’s pre-tax contribution, and rollover. Only the participant’s pre-tax contribution, rollover, and Company matching amounts may be borrowed against, with a minimum note of $1,000. Notes are payable through payroll deductions over a period ranging up to 180 months. The interest rate is determined by the Plan Administrator, based on the Bank of America prime rate on the last day of the calendar year prior to when the note was made, plus 1% for a primary residence loan and 2% for a standard loan. The rates at December 31, 2016 and 2015 ranged from 4.25% to 11.50%, respectively. The notes have various maturity dates up to December 2031.
Starting January 1, 2015, participant loans requested and issued cannot be withdrawn from Company matching contributions. Loans also have an annual maintenance fee charge. This amendment was approved in December 2014.
Additionally, starting January 1, 2016, terminated participants with outstanding loans are no longer in default and required to be paid within 30 days of termination. Participants are allowed to continue making regular loan payments after termination. These amendments were approved in November 2015.
(i)
Plan Administrator

The Plan is administered by the Benefits Committee of the Company.
(j)
Administrative and Investment Expenses

All investment management and transaction fees are netted against the “Net appreciation of investments.” Certain administrative expenses of maintaining the Plan are paid by the Company, except for loan origination fees (paid by the participant requesting the loan) associated with notes receivable from participants.    

(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 are reported at contract value (see Note 3), while all other investments in the Plan are reported

6
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2016 and 2015


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 that 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.
(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, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expense 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 certain fully benefit-responsive investment contracts that, in turn, invest in a combination of stocks, bonds and other investment securities. Investment securities are exposed to various risks, such as interest rate, credit, and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is possible that changes in the values of investment securities will occur and that those changes could materially affect the amounts reported in the statements of net assets available for benefits.
Registered investment company funds, Company common stock, and other equity securities (held in the separately managed accounts) are stated at fair value based upon quoted market prices.
The CPP is invested in SICs and SACs, which are fully benefit-responsive and recorded at contract value. Participant withdrawals are required to be at contract value.
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. A result may be that the fully benefit-responsive contracts are terminated and settled at a valued amount different from the contract value. The Plan Administrator believes at this time any events that would limit the Plan’s ability to transact at contract value with participants 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.
(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.
(e)
Distribution of Benefits

Distributions of benefits are recorded when paid.

7
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2016 and 2015


(3)
Fully Benefit-Responsive Investment Contracts

The following is a description of the fully benefit-responsive investment contracts invested in by the CPP.

SIC: 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 permitted participant-initiated withdrawals.
SAC and wrap contract: These are contracts with an insurance company. The issuer legally owns the assets and is required to segregate them into a separate account, which is designed to be protected from the claims of the issuer’s general creditors in the event of issuer insolvency. The issuer of the wrap contract provides for unscheduled withdrawals from the contract at contract value, regardless of the value of the underlying assets, in order to fund routine permitted participant-initiated withdrawals.
The table below presents the total contract value of each type of fully benefit-responsive investment contract in the Plan as of December 31, 2016, and 2015.

 
Fully benefit-responsive investment contracts (in thousands)
 
2016
 
2015
SIC
$
984,996

 
$
902,262

SAC
185,626

 
181,088

Total fully benefit-responsive investment contracts
$
1,170,622

 
$
1,083,350

(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 following valuation techniques are used to measure fair value:
Level 1 primarily consists of financial instruments, such as investments in registered investment company funds and the Company's common stock, whose value is based on quoted market prices, such as quoted net asset values published by the fund as supported in an active market, exchange-traded instruments and listed equities.
Level 2 includes assets and liabilities where quoted market prices are unobservable but observable inputs other than Level 1 prices, such as quoted prices for similar assets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Valuation methodologies are based on “consensus pricing,” using market prices from a variety of industry-standard data providers or pricing that considers various assumptions, including time value, yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures. All are observable in the market or can be derived principally from or corroborated by observable market data, for which the Plan typically receives independent external valuation information.

8
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2016 and 2015


Level 3 assets include significant unobservable inputs reflecting our own assumptions consistent with reasonably available assumptions made by other market participants. The Plan uses the income approach for certain investments, which involves determining fair values from discounted cash flow methodologies, or replacement cost for Level 3 assets.
Valuation techniques utilized during the reporting period in the fair value measurement of Level 1, Level 2, and Level 3 assets and liabilities presented on the Plan’s statements of net assets available for benefits were not changed from previous practice. The Plan reports transfers in and out of Levels 1, 2, and 3, as applicable, using the fair value of the individual securities or funds as of the beginning of the reporting period in which the transfer(s) occurred.
The carrying value of the Plan’s receivables approximate fair value due to their short-term nature or fixed rates relative to prevailing market rates.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following is a description of the valuation methodologies used for assets measured at fair value.
Common stock, registered investment company funds, and separately managed accounts: 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.
Common commingled trust: Valued at the Net Asset Value (NAV) of shares held by the Plan at year end. Plan participant transactions of investment or withdrawals may occur on a daily basis in these trusts. There are no unfunded commitments at December 31, 2016 or 2015. Accounting Standards Update (ASU) 2015-10, Technical Corrections and Improvements updated the definition of Readily Determinable Fair Value. 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 published by the fund as supported in an active market. As such, the Plan has changed its valuation technique of the common commingled trust from NAV Practical Expedient to NAV Readily Determinable Fair Value for 2016 and 2015. This did not have a material impact to the financial statements or disclosures. These assets are valued using Level 1 inputs.
There were no Level 2 or Level 3 financial assets in the Plan that are measured at fair value on a recurring basis as of December 31, 2016 and 2015.
(5)
Form 5500 Reconciliation

As of December 31, 2016, the net assets available for benefits per the financial statements agreed to the Plan's Form 5500.

In 2015, the Plan elected to early adopt ASU 2015-12 that simplified employee benefit plan accounting, eliminating the requirements to measure the fair value of fully benefit-responsive contracts. However, the Form 5500 does not allow early adoption, therefore the financial statements and Form 5500 do not agree. The following is a reconciliation of the net assets available for benefits per the financial statements at December 31, 2015 to the Plan’s Form 5500 (in thousands):

 
 
2015
Net assets available for benefits per the financial statements
 
$
11,324,265

Adjustment from contract value to fair value for fully benefit-responsive investment contracts
 
4,631

Net assets available for benefits per the Form 5500
 
$
11,328,896



9
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2016 and 2015


The following is a reconciliation of the net increase in net assets available for benefits per the financial statements at December 31, 2016 and 2015 to the Plan’s Form 5500 (in thousands):

 
 
2016
 
2015
Net increase in net assets available for benefits per the financial statements
 
$
868,267

 
$
1,148,135

Net change due to fair value for fully benefit-responsive contracts
 
(4,631
)
 
(11,535
)
Net increase in net assets available for benefits per the Form 5500
 
$
863,636

 
$
1,136,600

(6)
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 the provisions of ERISA and the requirements of the collective bargaining agreement with the International Brotherhood of Teamsters in California. In the event of plan termination, participants will become 100% vested in their accounts.
(7)
Tax Status

In a determination letter dated September 23, 2013, the IRS informed the Company that the Plan is designed in accordance with applicable sections of the IRC. Although the Plan has been amended since receiving the last determination letter, the Plan Administrator believes that the Plan is designed and is being operated in compliance with the requirements of the IRC.
U.S. GAAP requires Plan management 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 analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2016, 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. The Plan Administrator believes it is no longer subject to income tax examinations for years prior to 2013.
(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. T. Rowe Price is also the trustee and record keeper as defined by the Plan. Therefore, these transactions qualify as party-in-interest transactions. The Plan also invests in the Company’s common stock, which also qualify as party-in-interest transactions.
(9)
Subsequent Events

In February 2016, the Company and the International Brotherhood of Teamsters entered into a labor agreement whereby East Coast employees covered by this agreement elected to join the West Coast Union 401(k) plan.  These changes took effect on January 1, 2017.
On April 25, 2017, the Company declared a special cash dividend on Costco common stock of $7 per share, which was paid on May 26, 2017. Of the $210.2 million special dividend paid to Plan participants, approximately $134.9 million was distributed directly to the participants and the remaining $75.3 million was reinvested into the participants’ accounts.

10
Table of Contents                 

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2016
(in thousands)

Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
Registered investment company and common commingled trust funds:
 
 
 
 
 
 
 
 
American Funds
 
New Perspective Fund R6
 
$
207,032

 
 
PIMCO
 
Income Inst
 
355,160

 
 
* T. Rowe Price
 
Retirement Balanced Trust D
 
22,391

 
 
* T. Rowe Price
 
TRP Ret 2005 Active Trust D
 
13,392

 
 
* T. Rowe Price
 
TRP Ret 2010 Active Trust D
 
36,459

 
 
* T. Rowe Price
 
TRP Ret 2015 Active Trust D
 
112,208

 
 
* T. Rowe Price
 
TRP Ret 2020 Active Trust D
 
281,232

 
 
* T. Rowe Price
 
TRP Ret 2025 Active Trust D
 
378,097

 
 
* T. Rowe Price
 
TRP Ret 2030 Active Trust D
 
392,740

 
 
* T. Rowe Price
 
TRP Ret 2035 Active Trust D
 
322,922

 
 
* T. Rowe Price
 
TRP Ret 2040 Active Trust D
 
411,499

 
 
* T. Rowe Price
 
TRP Ret 2045 Active Trust D
 
460,645

 
 
* T. Rowe Price
 
TRP Ret 2050 Active Trust D
 
239,177

 
 
* T. Rowe Price
 
TRP Ret 2055 Active Trust D
 
236,483

 
 
* T. Rowe Price
 
TRP Ret 2060 Active Trust D
 
13,391

 
 
Vanguard
 
Total Bond Market Index Fund Institutional
 
48,812

 
 
Vanguard
 
Institutional Index, Plus
 
384,086

 
 
Total registered investment company and common commingled trust funds
 
3,915,726

Separately managed accounts:
 
 
 
 
 
 
 
 
Mid-Cap Growth Portfolio:
 
 
 
 
 
 
 
Canadian Dollar
 
Cash
 
3

 
 
 
Acadia Healthcare Co Inc
 
Common Stock
 
2,819

 
 
 
 Alkermes Plc
 
Common Stock
 
9,914

 
 
 
 Allegion Plc
 
Common Stock
 
7,953

 
 
 
 Atlassian Corp Plc-Class
 
Common Stock
 
3,330

 
 
 
 Centennial Resource Devel
 
Common Stock
 
674

 
 
 
 Ferrari Nv
 
Common Stock
 
2,913

 
 
 
 Henry Schein Inc
 
Common Stock
 
6,233

 
 
 
 IHS Markit Ltd
 
Common Stock
 
10,113

 
 
 
 Keysight Technologies In
 
Common Stock
 
9,198

 
 
 
 L Brands Inc
 
Common Stock
 
4,816

 
 
 
 Manpowergroup Inc
 
Common Stock
 
1,425

 
 
 
 Marriott International -C
 
Common Stock
 
12,096

 
 
 
 Martin Marietta Materials
 
Common Stock
 
6,438

 
 
 
 Match Group Inc
 
Common Stock
 
1,602

 
 
 
 Mednax Inc
 
Common Stock
 
10,821

 
 
 
 Mettler-Toledo Internatio
 
Common Stock
 
2,936

 
 
 
 Mgm Resorts International
 
Common Stock
 
4,854

 
 
 
 Michaels Cos Inc/The
 
Common Stock
 
5,082

 
 
 
 Microchip Technology Inc
 
Common Stock
 
13,628

 
 
 
 Middleby Corp
 
Common Stock
 
3,872

 
 
 
 Msci Inc
 
Common Stock
 
5,210

 
 
 
 Neurocrine Biosciences In
 
Common Stock
 
620

 
 
 
 Norwegian Cruise Line Hol
 
Common Stock
 
12,487


11
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
 Nxp Semiconductors Nv
 
Common Stock
 
5,598

 
 
 
 Old Dominion Freight Line
 
Common Stock
 
1,376

 
 
 
 O'Reilly Automotive Inc
 
Common Stock
 
8,649

 
 
 
 Palo Alto Networks Inc
 
Common Stock
 
877

 
 
 
 Progressive Corp
 
Common Stock
 
8,965

 
 
 
 PVH Corp
 
Common Stock
 
2,713

 
 
 
 Quintiles Ims Holdings In
 
Common Stock
 
4,496

 
 
 
 Red Hat Inc
 
Common Stock
 
9,639

 
 
 
 Rockwell Collins Inc
 
Common Stock
 
7,157

 
 
 
 Roper Technologies Inc
 
Common Stock
 
11,925

 
 
 
 Royal Caribbean Cruises L
 
Common Stock
 
5,673

 
 
 
 RPM International Inc
 
Common Stock
 
6,959

 
 
 
 Sabre Corp
 
Common Stock
 
4,925

 
 
 
 SBA Communications Corp
 
Common Stock
 
1,345

 
 
 
 Sensata Technologies Hold
 
Common Stock
 
8,899

 
 
 
 Servicenow Inc
 
Common Stock
 
2,458

 
 
 
 Splunk Inc
 
Common Stock
 
3,383

 
 
 
 Sprouts Farmers Market In
 
Common Stock
 
4,271

 
 
 
 SS&C Technologies Holding
 
Common Stock
 
3,783

 
 
 
 Stericycle Inc
 
Common Stock
 
1,667

 
 
 
 Tableau Software Inc-Cl A
 
Common Stock
 
2,534

 
 
 
 TD Ameritrade Holding Cor
 
Common Stock
 
11,010

 
 
 
 Teleflex Inc
 
Common Stock
 
14,372

 
 
 
 Tesaro Inc
 
Common Stock
 
2,021

 
 
 
 Tesla Inc
 
Common Stock
 
2,570

 
 
 
 Textron Inc
 
Common Stock
 
18,206

 
 
 
 T-Mobile Us Inc
 
Common Stock
 
8,472

 
 
 
 Transunion
 
Common Stock
 
1,519

 
 
 
 Treehouse Foods Inc
 
Common Stock
 
5,353

 
 
 
 Tripadvisor Inc
 
Common Stock
 
2,323

 
 
 
 Vail Resorts
 
Common Stock
 
2,520

 
 
 
 Valvoline Inc
 
Common Stock
 
1,939

 
 
 
 Vantiv Inc - Cl A
 
Common Stock
 
8,723

 
 
 
 Veeva Systems Inc-Class A
 
Common Stock
 
4,038

 
 
 
 Verisign Inc
 
Common Stock
 
8,614

 
 
 
 Verisk Analytics Inc
 
Common Stock
 
8,541

 
 
 
 Vertex Pharmaceuticals In
 
Common Stock
 
2,953

 
 
 
 Wabco Holdings Inc
 
Common Stock
 
2,659

 
 
 
 Waste Connections Inc
 
Common Stock
 
8,899

 
 
 
 We Work Compan Class
 
Common Stock
 
426

 
 
 
 West Pharmaceutical Servi
 
Common Stock
 
4,505

 
 
 
 Willis Towers Watson Plc
 
Common Stock
 
15,562

 
 
 
 Workday Inc-Class A
 
Common Stock
 
3,245

 
 
 
 Xilinx Inc
 
Common Stock
 
3,993

 
 
 
 Xylem Inc
 
Common Stock
 
6,054

 
 
 
 Zillow Group Inc - A
 
Common Stock
 
1,205


12
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
 Zillow Group Inc - C
 
Common Stock
 
1,791

 
 
 
Zoetis Inc
 
Common Stock
 
5,257

 
 
 
Acuity Brands Inc
 
Common Stock
 
3,701

 
 
 
Agilent Technologies Inc
 
Common Stock
 
10,409

 
 
 
Air Products & Chemicals
 
Common Stock
 
9,368

 
 
 
Alnylam Pharmaceuticals I
 
Common Stock
 
1,538

 
 
 
Aramark
 
Common Stock
 
5,226

 
 
 
Arc Resources Ltd
 
Common Stock
 
3,034

 
 
 
Ashland Global Holdings I
 
Common Stock
 
5,695

 
 
 
Autozone Inc
 
Common Stock
 
12,663

 
 
 
Ball Corp
 
Common Stock
 
8,576

 
 
 
Bats Global Markets Inc
 
Common Stock
 
1,645

 
 
 
Black Knight Financial
 
Common Stock
 
224

 
 
 
Blue Buffalo Pet Products
 
Common Stock
 
2,409

 
 
 
Bruker Corp
 
Common Stock
 
6,473

 
 
 
Burlington Stores Inc
 
Common Stock
 
4,161

 
 
 
Carmax Inc
 
Common Stock
 
9,937

 
 
 
Carter's Inc
 
Common Stock
 
3,982

 
 
 
Catalent Inc
 
Common Stock
 
5,673

 
 
 
CBOE Holdings Inc
 
Common Stock
 
9,626

 
 
 
Choice Hotels Intl Inc
 
Common Stock
 
1,854

 
 
 
Cimarex Energy Co
 
Common Stock
 
1,770

 
 
 
Coach Inc
 
Common Stock
 
8,282

 
 
 
Cognex Corp
 
Common Stock
 
2,614

 
 
 
Colfax Corp
 
Common Stock
 
2,664

 
 
 
Conagra Foods Inc
 
Common Stock
 
5,866

 
 
 
Concho Resources Inc
 
Common Stock
 
2,259

 
 
 
Cooper Cos Inc/The
 
Common Stock
 
10,518

 
 
 
Corelogic Inc
 
Common Stock
 
6,016

 
 
 
CSRA Inc
 
Common Stock
 
3,465

 
 
 
Dentsply International In
 
Common Stock
 
9,452

 
 
 
Dick's Sporting Goods Inc
 
Common Stock
 
3,086

 
 
 
Digitalglobe Inc
 
Common Stock
 
5,139

 
 
 
Dollar General Corp
 
Common Stock
 
12,024

 
 
 
E*Trade Financial Corp
 
Common Stock
 
3,993

 
 
 
Electronic Arts Inc
 
Common Stock
 
3,867

 
 
 
Envision Healthcare Corp
 
Common Stock
 
5,708

 
 
 
EQT Corp
 
Common Stock
 
6,947

 
 
 
Equifax Inc
 
Common Stock
 
11,223

 
 
 
Equinix Inc
 
Common Stock
 
716

 
 
 
Factset Research Systems
 
Common Stock
 
3,275

 
 
 
Fidelity National Info Se
 
Common Stock
 
4,396

 
 
 
Fiserv Inc
 
Common Stock
 
18,105

 
 
 
Fleetcor Technologies Inc
 
Common Stock
 
7,374

 
 
 
FNF Group
 
Common Stock
 
12,115

 
 
 
Fortive Corp
 
Common Stock
 
6,610


13
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
Franco-Nevada Corp
 
Common Stock
 
4,431

 
 
 
Gartner Inc
 
Common Stock
 
4,456

 
 
 
Global Payments Inc
 
Common Stock
 
8,973

 
 
 
Guidewire Software Inc
 
Common Stock
 
1,780

 
 
 
Hanesbrands Inc
 
Common Stock
 
2,805

 
 
 
Harman International
 
Common Stock
 
4,010

 
 
 
Harris Corp
 
Common Stock
 
10,063

 
 
 
Hologic Inc
 
Common Stock
 
13,428

 
 
 
Hunt (JB) Transprt Svcs I
 
Common Stock
 
3,210

 
 
 
IDEX Corp
 
Common Stock
 
12,274

 
 
 
Idexx Laboratories Inc
 
Common Stock
 
4,818

 
 
 
Illumina Inc
 
Common Stock
 
4,234

 
 
 
Incyte Corp
 
Common Stock
 
3,617

 
 
 
Intercontinental Exchange
 
Common Stock
 
10,120

 
 
 
Intuitive Surgical Inc
 
Common Stock
 
8,261

 
 
 
Jones Lang Lasalle Inc
 
Common Stock
 
1,620

 
 
 
Kansas City Southern
 
Common Stock
 
6,887

 
 
 
KAR Auction Services Inc
 
Common Stock
 
5,509

 
 
 
Kla-Tencor Corp
 
Common Stock
 
2,602

 
 
 
US Govt STIF 5 Bps
 
Money Market Security
 
1,681

 
 
 
 T. Rowe Price Tre Res Fund
 
Mutual Fund
 
12,142

 
 
Large Cap Value Portfolio:
 
 
 
 
 
 
 
 Abbott Laboratories
 
Common Stock
 
1,273

 
 
 
 Adient Plc - Wi
 
Common Stock
 
422

 
 
 
 AES Corp
 
Common Stock
 
961

 
 
 
 Aetna Inc
 
Common Stock
 
3,053

 
 
 
 Agilent Technologies Inc
 
Common Stock
 
1,422

 
 
 
 American Airlines Group I
 
Common Stock
 
2,607

 
 
 
 American Electric Power
 
Common Stock
 
2,321

 
 
 
 American International Gr
 
Common Stock
 
2,247

 
 
 
 Ameriprise Financial Inc
 
Common Stock
 
2,923

 
 
 
 Analog Devices Inc
 
Common Stock
 
772

 
 
 
 Anthem Inc
 
Common Stock
 
2,167

 
 
 
 Apple Inc
 
Common Stock
 
2,949

 
 
 
 Applied Materials Inc
 
Common Stock
 
647

 
 
 
 Baker Hughes Inc
 
Common Stock
 
232

 
 
 
 Ball Corp
 
Common Stock
 
1,423

 
 
 
 Bank Of New York Mellon
 
Common Stock
 
3,308

 
 
 
 Becton Dickinson And Co
 
Common Stock
 
1,797

 
 
 
 Boeing Co/The
 
Common Stock
 
2,960

 
 
 
 Bristol-Myers Squibb Co
 
Common Stock
 
1,008

 
 
 
 Bunge Ltd
 
Common Stock
 
1,313

 
 
 
 CF Industries Holdings
 
Common Stock
 
219

 
 
 
 Chevron Corp
 
Common Stock
 
3,210

 
 
 
 Chubb Ltd
 
Common Stock
 
397

 
 
 
 Cisco Systems Inc
 
Common Stock
 
2,936


14
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
 Citigroup Inc
 
Common Stock
 
3,552

 
 
 
 Comcast Corp-Class A
 
Common Stock
 
1,786

 
 
 
 Coty Inc-Cl A
 
Common Stock
 
721

 
 
 
 CVS Health Corp
 
Common Stock
 
585

 
 
 
 Danaher Corp
 
Common Stock
 
678

 
 
 
 Delphi Automotive Plc
 
Common Stock
 
473

 
 
 
 Dollar General Corp
 
Common Stock
 
891

 
 
 
 DTE Energy Company
 
Common Stock
 
1,067

 
 
 
 Du Pont (E.I.) De Nemours
 
Common Stock
 
1,700

 
 
 
 Encana Corp
 
Common Stock
 
766

 
 
 
 EOG Resources Inc
 
Common Stock
 
1,472

 
 
 
 EQT Corp
 
Common Stock
 
554

 
 
 
 Eversource Energy
 
Common Stock
 
438

 
 
 
 Exelon Corp
 
Common Stock
 
4,367

 
 
 
 Exxon Mobil Corp
 
Common Stock
 
4,344

 
 
 
 Fifth Third Bancorp
 
Common Stock
 
2,827

 
 
 
 Firstenergy Corp
 
Common Stock
 
564

 
 
 
 General Electric Co
 
Common Stock
 
3,678

 
 
 
 General Growth Properties
 
Common Stock
 
656

 
 
 
 General Motors Co
 
Common Stock
 
567

 
 
 
 Gilead Sciences Inc
 
Common Stock
 
804

 
 
 
 Great Plains Energy Inc
 
Common Stock
 
823

 
 
 
 Harris Corp
 
Common Stock
 
1,109

 
 
 
 HCA Holdings Inc
 
Common Stock
 
1,711

 
 
 
 Hess Corp
 
Common Stock
 
604

 
 
 
 Hologic Inc
 
Common Stock
 
1,460

 
 
 
 Honeywell International I
 
Common Stock
 
1,196

 
 
 
 Illinois Tool Works
 
Common Stock
 
602

 
 
 
 International Paper Co
 
Common Stock
 
1,378

 
 
 
 JM Smucker Co/The
 
Common Stock
 
141

 
 
 
 Johnson Controls Internat
 
Common Stock
 
2,839

 
 
 
 JPMorgan Chase & Co
 
Common Stock
 
10,791

 
 
 
 Keycorp
 
Common Stock
 
2,044

 
 
 
 Keysight Technologies In
 
Common Stock
 
453

 
 
 
 L Brands Inc
 
Common Stock
 
409

 
 
 
 Las Vegas Sands Corp
 
Common Stock
 
731

 
 
 
 Lennar Corp-A
 
Common Stock
 
620

 
 
 
 Liberty Global Plc-Series
 
Common Stock
 
1,069

 
 
 
 Lowe's Cos Inc
 
Common Stock
 
1,494

 
 
 
 Mallinckrodt Plc
 
Common Stock
 
410

 
 
 
 Marathon Petroleum Corp
 
Common Stock
 
2,163

 
 
 
 Marsh & Mclennan Cos
 
Common Stock
 
2,501

 
 
 
 Mattel Inc
 
Common Stock
 
1,314

 
 
 
 Mckesson Corp
 
Common Stock
 
493

 
 
 
 Medtronic Plc
 
Common Stock
 
3,273

 
 
 
 Merck & Co. Inc.
 
Common Stock
 
3,087


15
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
 Metlife Inc
 
Common Stock
 
2,573

 
 
 
 Microchip Technology Inc
 
Common Stock
 
447

 
 
 
 Microsoft Corp
 
Common Stock
 
5,950

 
 
 
 Mondelez International In
 
Common Stock
 
523

 
 
 
 Morgan Stanley
 
Common Stock
 
4,112

 
 
 
 Nextera Energy Inc
 
Common Stock
 
749

 
 
 
 Nextera Energy Inc
 
Common Stock
 
833

 
 
 
 Norwegian Cruise Line Hol
 
Common Stock
 
1,618

 
 
 
 NRG Energy Inc
 
Common Stock
 
779

 
 
 
 NXP Semiconductors Nv
 
Common Stock
 
471

 
 
 
 Occidental Petroleum Corp
 
Common Stock
 
1,981

 
 
 
 Pentair Plc
 
Common Stock
 
326

 
 
 
 Pepsico Inc
 
Common Stock
 
629

 
 
 
 Pfizer Inc
 
Common Stock
 
4,217

 
 
 
 Philip Morris Internation
 
Common Stock
 
5,944

 
 
 
 PNC Financial Services Gr
 
Common Stock
 
106

 
 
 
 Qualcomm Inc
 
Common Stock
 
1,889

 
 
 
 Red Hat Inc
 
Common Stock
 
1,139

 
 
 
 Rockwell Collins Inc
 
Common Stock
 
770

 
 
 
 Roper Technologies Inc
 
Common Stock
 
1,266

 
 
 
 Schwab (Charles) Corp
 
Common Stock
 
1,212

 
 
 
 Sempra Energy
 
Common Stock
 
999

 
 
 
 Spectra Energy Corp
 
Common Stock
 
1,575

 
 
 
 State Street Corp
 
Common Stock
 
2,229

 
 
 
 Stericycle Inc
 
Common Stock
 
968

 
 
 
 Synchrony Financial
 
Common Stock
 
1,522

 
 
 
 Targa Resources Corp
 
Common Stock
 
206

 
 
 
 Te Connectivity Ltd
 
Common Stock
 
1,277

 
 
 
 Texas Instruments Inc
 
Common Stock
 
1,639

 
 
 
 Thermo Fisher Scientific
 
Common Stock
 
1,681

 
 
 
 Total SA-Spon Adr
 
Common Stock
 
4,190

 
 
 
 Trans Canada Corp
 
Common Stock
 
1,884

 
 
 
 Twenty-First Century Fox
 
Common Stock
 
1,636

 
 
 
 Tyson Foods Inc-Cl A
 
Common Stock
 
6,631

 
 
 
 United Technologies Corp
 
Common Stock
 
1,433

 
 
 
 US Bancorp
 
Common Stock
 
2,112

 
 
 
 Vereit Inc
 
Common Stock
 
1,337

 
 
 
 Verizon Communications In
 
Common Stock
 
2,696

 
 
 
 Vulcan Materials Co
 
Common Stock
 
590

 
 
 
 Walgreens Boots Alliance
 
Common Stock
 
1,971

 
 
 
 Wal-Mart Stores Inc
 
Common Stock
 
1,497

 
 
 
 Walt Disney Co/The
 
Common Stock
 
648

 
 
 
 Wells Fargo & Co
 
Common Stock
 
5,302

 
 
 
 Western Digital Corp
 
Common Stock
 
402

 
 
 
 Weyerhaeuser Co
 
Common Stock
 
1,255

 
 
 
 Willis Towers Watson Plc
 
Common Stock
 
650


16
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
 Xl Group Ltd
 
Common Stock
 
3,022

 
 
 
Ashland Global Holdings
 
Common Stock
 
1,222

 
 
 
P G & E Corp
 
Common Stock
 
3,479

 
 
 
US Govt STIF 5 Bps
 
Money Market Securities
 
1,557

 
 
 
 T Rowe Price Gov Res Fund
 
Mutual Funds
 
1,117

 
 
Small-Cap Core Portfolio:
 
 
 
 
 
 
 
Canadian Dollar
 
Cash
 
2

 
 
 
Aaon Inc
 
Common Stock
 
1,077

 
 
 
Acadia Healthcare Co Inc
 
Common Stock
 
1,211

 
 
 
Acadia Pharmaceuticals In
 
Common Stock
 
621

 
 
 
Acadia Realty Trust
 
Common Stock
 
674

 
 
 
Acceleron Pharma Inc
 
Common Stock
 
468

 
 
 
Accuray Inc
 
Common Stock
 
277

 
 
 
Adtran Inc
 
Common Stock
 
769

 
 
 
Advanced Accelerator App-
 
Common Stock
 
208

 
 
 
Alamo Group Inc
 
Common Stock
 
849

 
 
 
Albany Intl Corp-Cl A
 
Common Stock
 
886

 
 
 
Alexander & Baldwin Inc
 
Common Stock
 
1,543

 
 
 
Alkermes PLC
 
Common Stock
 
1,329

 
 
 
American Campus Communiti
 
Common Stock
 
1,607

 
 
 
American Public Education
 
Common Stock
 
577

 
 
 
Applied Industrial Tech I
 
Common Stock
 
1,001

 
 
 
Aquinox Pharmaceuticals I
 
Common Stock
 
175

 
 
 
Arctic Cat Inc
 
Common Stock
 
232

 
 
 
Ariad Pharmaceuticals Inc
 
Common Stock
 
550

 
 
 
Assured Guaranty Ltd
 
Common Stock
 
2,398

 
 
 
At Home Group Inc
 
Common Stock
 
184

 
 
 
Atlantic Capital Bancshar
 
Common Stock
 
473

 
 
 
AZZ Inc
 
Common Stock
 
2,032

 
 
 
Bankunited Inc
 
Common Stock
 
3,103

 
 
 
Bats Global Markets Inc
 
Common Stock
 
2,210

 
 
 
Beneficial Bancorp Inc
 
Common Stock
 
1,390

 
 
 
Blackbaud Inc
 
Common Stock
 
510

 
 
 
Blue Hills Bancorp Inc
 
Common Stock
 
558

 
 
 
Blueprint Medicines Corp
 
Common Stock
 
73

 
 
 
BNC Bancorp
 
Common Stock
 
1,348

 
 
 
Bojangles' Inc
 
Common Stock
 
490

 
 
 
Booz Allen Hamilton Holdi
 
Common Stock
 
1,319

 
 
 
Boston Beer Company Inc-A
 
Common Stock
 
1,016

 
 
 
Bottomline Technologies (
 
Common Stock
 
1,297

 
 
 
Bridge Bancorp Inc
 
Common Stock
 
1,088

 
 
 
Brink’s Co/The
 
Common Stock
 
2,401

 
 
 
Brinker International Inc
 
Common Stock
 
1,417

 
 
 
Broadsoft Inc
 
Common Stock
 
773

 
 
 
Bruker Corp
 
Common Stock
 
1,112

 
 
 
Burlington Stores Inc
 
Common Stock
 
1,512


17
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
BWX Technologies Inc
 
Common Stock
 
902

 
 
 
Cable One Inc
 
Common Stock
 
1,549

 
 
 
Calatlantic Group Inc
 
Common Stock
 
267

 
 
 
California Water Service
 
Common Stock
 
1,375

 
 
 
Cal-Maine Foods Inc
 
Common Stock
 
1,315

 
 
 
Capital Bank Financial-Cl
 
Common Stock
 
1,822

 
 
 
Capitol Federal Financial
 
Common Stock
 
1,460

 
 
 
Cargurus Inc Series D Pfd
 
Common Stock
 
403

 
 
 
Cargurus Inc Series E Pfd
 
Common Stock
 
139

 
 
 
Catalent Inc
 
Common Stock
 
1,089

 
 
 
Catchmark Timber Trust In
 
Common Stock
 
469

 
 
 
Cavium Inc
 
Common Stock
 
1,326

 
 
 
Centene Corp
 
Common Stock
 
1,555

 
 
 
Centennial Resource Devel
 
Common Stock
 
459

 
 
 
Centennial Resource Devel
 
Common Stock
 
273

 
 
 
Centennial Resuorc Wts
 
Common Stock
 
65

 
 
 
Chart Industries Inc
 
Common Stock
 
1,371

 
 
 
Cheesecake Factory Inc/Th
 
Common Stock
 
1,015

 
 
 
Chegg Inc
 
Common Stock
 
528

 
 
 
Chemical Financial Corp
 
Common Stock
 
971

 
 
 
Chesapeake Lodging Trust
 
Common Stock
 
737

 
 
 
Chesapeake Utilities Corp
 
Common Stock
 
787

 
 
 
Chico's Fas Inc
 
Common Stock
 
1,644

 
 
 
Ciena Corp
 
Common Stock
 
1,396

 
 
 
Clearwater Paper Corp
 
Common Stock
 
836

 
 
 
Clifton Bancorp Inc
 
Common Stock
 
359

 
 
 
Cohen & Steers Inc
 
Common Stock
 
780

 
 
 
Colucid Pharmaceuticals I
 
Common Stock
 
462

 
 
 
Comfort Systems USA Inc
 
Common Stock
 
339

 
 
 
Compass Minerals Internat
 
Common Stock
 
437

 
 
 
Computer Modelling Group
 
Common Stock
 
310

 
 
 
Constellium Nv- Class A
 
Common Stock
 
270

 
 
 
Conyers Park Acquisit - U
 
Common Stock
 
539

 
 
 
Core-Mark Holding Co Inc
 
Common Stock
 
2,056

 
 
 
Corporate Office Properti
 
Common Stock
 
1,537

 
 
 
Cross Country Healthcare
 
Common Stock
 
591

 
 
 
CSRA Inc
 
Common Stock
 
1,556

 
 
 
CTS Corp
 
Common Stock
 
712

 
 
 
CU Bancorp
 
Common Stock
 
29

 
 
 
Cyberark Software Ltd/Isr
 
Common Stock
 
1,428

 
 
 
Deluxe Corporation
 
Common Stock
 
250

 
 
 
Denny's Corp
 
Common Stock
 
1,454

 
 
 
Descartes Systems Grp/The
 
Common Stock
 
1,898

 
 
 
Diamond Offshore Drilling
 
Common Stock
 
787

 
 
 
Diamondback Energy Inc
 
Common Stock
 
1,712

 
 
 
Diodes Inc
 
Common Stock
 
995


18
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
Dril-Quip Inc
 
Common Stock
 
652

 
 
 
E*Trade Financial Corp
 
Common Stock
 
3,188

 
 
 
East West Bancorp Inc
 
Common Stock
 
1,434

 
 
 
Eastgroup Properties Inc
 
Common Stock
 
2,002

 
 
 
El Paso Electric Co
 
Common Stock
 
501

 
 
 
Ellie Mae Inc
 
Common Stock
 
1,560

 
 
 
Encore Capital Group Inc
 
Common Stock
 
1,051

 
 
 
Enstar Group Ltd
 
Common Stock
 
1,025

 
 
 
Entellus Medical Inc
 
Common Stock
 
134

 
 
 
Epam Systems Inc
 
Common Stock
 
596

 
 
 
Equity Commonwealth
 
Common Stock
 
1,528

 
 
 
Equity One Inc
 
Common Stock
 
1,116

 
 
 
Esco Technologies Inc
 
Common Stock
 
2,321

 
 
 
Essent Group Ltd
 
Common Stock
 
497

 
 
 
Etsy Inc
 
Common Stock
 
375

 
 
 
Exelixis Inc
 
Common Stock
 
956

 
 
 
Exponent Inc
 
Common Stock
 
968

 
 
 
FB Financial Corp
 
Common Stock
 
476

 
 
 
Financial Engines Inc
 
Common Stock
 
1,502

 
 
 
Finisar Corporation
 
Common Stock
 
2,329

 
 
 
First Hawaiian Inc
 
Common Stock
 
661

 
 
 
First Horizon National Co
 
Common Stock
 
2,660

 
 
 
Firstservice Corp
 
Common Stock
 
839

 
 
 
Five Below
 
Common Stock
 
546

 
 
 
Five9 Inc
 
Common Stock
 
1,071

 
 
 
Flotek Industries Inc
 
Common Stock
 
338

 
 
 
Forestar Group Inc
 
Common Stock
 
485

 
 
 
Forterra Inc
 
Common Stock
 
423

 
 
 
Fortinet Inc
 
Common Stock
 
291

 
 
 
Forum Energy Technologies
 
Common Stock
 
559

 
 
 
Franco-Nevada Corp
 
Common Stock
 
896

 
 
 
Frank's International NV
 
Common Stock
 
310

 
 
 
Gentherm Inc
 
Common Stock
 
2,123

 
 
 
Gibraltar Industries Inc
 
Common Stock
 
350

 
 
 
Glacier Bancorp Inc
 
Common Stock
 
924

 
 
 
Graco Inc
 
Common Stock
 
1,317

 
 
 
Graham Corp
 
Common Stock
 
143

 
 
 
Grubhub Inc
 
Common Stock
 
1,320

 
 
 
Guidewire Software Inc
 
Common Stock
 
2,055

 
 
 
Halyard Health Inc
 
Common Stock
 
1,563

 
 
 
Hannon Armstrong Sustaina
 
Common Stock
 
608

 
 
 
Haynes International Inc
 
Common Stock
 
703

 
 
 
Healthcare Services Group
 
Common Stock
 
492

 
 
 
Heritage Commerce Corp
 
Common Stock
 
725

 
 
 
Hexcel Corp
 
Common Stock
 
1,861

 
 
 
HMS Holdings Corp
 
Common Stock
 
1,922


19
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
HNI Corp
 
Common Stock
 
262

 
 
 
Home Bancshares Inc
 
Common Stock
 
1,669

 
 
 
Hope Bancorp Inc
 
Common Stock
 
919

 
 
 
HSN Inc
 
Common Stock
 
557

 
 
 
Infinity Property & Casua
 
Common Stock
 
2,173

 
 
 
Inphi Corp
 
Common Stock
 
387

 
 
 
Insmed Inc
 
Common Stock
 
498

 
 
 
Integrated Device Tech In
 
Common Stock
 
881

 
 
 
Ionis Pharmaceuticals Inc
 
Common Stock
 
648

 
 
 
Ironwood Pharm Inc
 
Common Stock
 
881

 
 
 
Ixia
 
Common Stock
 
613

 
 
 
Jack In The Box Inc
 
Common Stock
 
3,015

 
 
 
Janus Capital Group Inc
 
Common Stock
 
299

 
 
 
John Bean Technologies Co
 
Common Stock
 
3,332

 
 
 
K2M Group Holdings Inc
 
Common Stock
 
2,243

 
 
 
Kearny Financial Corp/Md
 
Common Stock
 
550

 
 
 
Knight Transportation Inc
 
Common Stock
 
1,683

 
 
 
Landstar System Inc
 
Common Stock
 
1,445

 
 
 
Lattice Semiconductor Cor
 
Common Stock
 
763

 
 
 
Lennox International Inc
 
Common Stock
 
1,878

 
 
 
Lifepoint Health Inc
 
Common Stock
 
934

 
 
 
Live Oak Bancshares Inc
 
Common Stock
 
142

 
 
 
Louisiana-Pacific Corp
 
Common Stock
 
670

 
 
 
Luxfer Holdings Plc-Adr
 
Common Stock
 
451

 
 
 
Macom Technology Solution
 
Common Stock
 
660

 
 
 
Manitowoc Company Inc
 
Common Stock
 
499

 
 
 
Manitowoc Foodservice Inc
 
Common Stock
 
1,094

 
 
 
Martin Marietta Materials
 
Common Stock
 
508

 
 
 
Matador Resources Co
 
Common Stock
 
1,333

 
 
 
Matson Inc
 
Common Stock
 
1,249

 
 
 
Matthews Intl Corp-Class
 
Common Stock
 
735

 
 
 
Medicines Company
 
Common Stock
 
812

 
 
 
Meridian Bancorp Inc
 
Common Stock
 
940

 
 
 
Meridian Bioscience Inc
 
Common Stock
 
369

 
 
 
Meritage Homes Corp
 
Common Stock
 
971

 
 
 
Michaels Cos Inc/The
 
Common Stock
 
1,107

 
 
 
Microsemi Corp
 
Common Stock
 
2,471

 
 
 
Minerals Technologies Inc
 
Common Stock
 
1,655

 
 
 
Mobile Mini Inc
 
Common Stock
 
977

 
 
 
Monro Muffler Brake Inc
 
Common Stock
 
1,015

 
 
 
Moog Inc-Class A
 
Common Stock
 
1,277

 
 
 
MSA Safety Inc
 
Common Stock
 
2,522

 
 
 
Mueller Water Products In
 
Common Stock
 
1,333

 
 
 
Multi Packaging Solutions
 
Common Stock
 
945

 
 
 
Multi-Color Corp
 
Common Stock
 
1,083

 
 
 
National Instruments Corp
 
Common Stock
 
1,499


20
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
Nautilus Inc
 
Common Stock
 
347

 
 
 
New Gold Inc
 
Common Stock
 
1,055

 
 
 
New Media Investment Grou
 
Common Stock
 
416

 
 
 
New Relic Inc
 
Common Stock
 
531

 
 
 
Nextera Energy Partners L
 
Common Stock
 
532

 
 
 
Northwestern Corp
 
Common Stock
 
606

 
 
 
Novanta Inc
 
Common Stock
 
519

 
 
 
NRG Energy Inc
 
Common Stock
 
580

 
 
 
Ollie's Bargain Outlet Ho
 
Common Stock
 
428

 
 
 
One Gas Inc
 
Common Stock
 
3,366

 
 
 
Ophthotech Corp
 
Common Stock
 
4

 
 
 
Osisko Gold Royalties Ltd
 
Common Stock
 
497

 
 
 
Outfront Media Inc
 
Common Stock
 
451

 
 
 
Pacific Continental Corp
 
Common Stock
 
384

 
 
 
Pacira Pharmaceuticals In
 
Common Stock
 
1,053

 
 
 
Pandora Media Inc
 
Common Stock
 
451

 
 
 
Paramount Group Inc
 
Common Stock
 
870

 
 
 
Park Sterling Corp
 
Common Stock
 
807

 
 
 
Parsley Energy Inc-Class
 
Common Stock
 
1,215

 
 
 
PDF Solutions Inc
 
Common Stock
 
935

 
 
 
Pennymac Financial Servic
 
Common Stock
 
294

 
 
 
Performance Food Group Co
 
Common Stock
 
502

 
 
 
Petra Diamonds Ltd
 
Common Stock
 
194

 
 
 
PGT Innovations Inc
 
Common Stock
 
527

 
 
 
Pinnacle Financial Partne
 
Common Stock
 
1,167

 
 
 
Pinnacle Foods Inc
 
Common Stock
 
3,282

 
 
 
PNM Resources Inc
 
Common Stock
 
2,448

 
 
 
Polyone Corporation
 
Common Stock
 
770

 
 
 
Popular Inc
 
Common Stock
 
1,433

 
 
 
Portland General Electric
 
Common Stock
 
1,848

 
 
 
Post Holdings Inc
 
Common Stock
 
1,859

 
 
 
Progress Software Corp
 
Common Stock
 
1,047

 
 
 
Proofpoint Inc
 
Common Stock
 
3,049

 
 
 
Prosperity Bancshares Inc
 
Common Stock
 
2,289

 
 
 
Prothena Corp Plc
 
Common Stock
 
174

 
 
 
PS Business Parks Inc/Ca
 
Common Stock
 
2,902

 
 
 
Quanex Building Products
 
Common Stock
 
981

 
 
 
Quotient Technology Inc
 
Common Stock
 
393

 
 
 
Radian Group Inc
 
Common Stock
 
1,532

 
 
 
Radius Health Inc
 
Common Stock
 
887

 
 
 
Rambus Inc
 
Common Stock
 
1,226

 
 
 
RBC Bearings Inc
 
Common Stock
 
2,229

 
 
 
Re/Max Holdings Inc-Cl A
 
Common Stock
 
943

 
 
 
Red Robin Gourmet Burgers
 
Common Stock
 
1,497

 
 
 
Restoration Hardware Hold
 
Common Stock
 
594

 
 
 
Retail Opportunity Invest
 
Common Stock
 
1,544


21
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
Rice Energy Inc
 
Common Stock
 
600

 
 
 
Ringcentral Inc-Class A
 
Common Stock
 
799

 
 
 
Ritchie Bros Auctioneers
 
Common Stock
 
2,389

 
 
 
Rli Corp
 
Common Stock
 
642

 
 
 
Rush Enterprises Inc-Cl A
 
Common Stock
 
992

 
 
 
Safety Insurance Group In
 
Common Stock
 
859

 
 
 
Sage Therapeutics Inc
 
Common Stock
 
366

 
 
 
Saia Inc
 
Common Stock
 
1,523

 
 
 
Scholastic Corp
 
Common Stock
 
1,070

 
 
 
Seacor Holdings Inc
 
Common Stock
 
1,598

 
 
 
Seattle Genetics Inc
 
Common Stock
 
710

 
 
 
Selective Insurance Group
 
Common Stock
 
2,407

 
 
 
Semtech Corp
 
Common Stock
 
1,233

 
 
 
Simmons First Natl Corp-C
 
Common Stock
 
644

 
 
 
Simpson Manufacturing Co
 
Common Stock
 
1,064

 
 
 
Skechers USA Inc-Cl A
 
Common Stock
 
1,683

 
 
 
SLM Corp
 
Common Stock
 
1,674

 
 
 
SM Energy Co
 
Common Stock
 
543

 
 
 
Snyders-Lance Inc
 
Common Stock
 
852

 
 
 
Sonic Corp
 
Common Stock
 
2,405

 
 
 
South Jersey Industries
 
Common Stock
 
712

 
 
 
Southwest Gas Holdings In
 
Common Stock
 
2,039

 
 
 
SP Plus Corp
 
Common Stock
 
471

 
 
 
Spark Therapeutics Inc
 
Common Stock
 
477

 
 
 
Sprouts Farmers Market In
 
Common Stock
 
620

 
 
 
SS&C Technologies Holding
 
Common Stock
 
3,178

 
 
 
State Auto Financial Corp
 
Common Stock
 
804

 
 
 
Steris PLC
 
Common Stock
 
2,082

 
 
 
Sun Hydraulics Corp
 
Common Stock
 
1,040

 
 
 
Synovus Financial Corp
 
Common Stock
 
1,576

 
 
 
Tableau Software Inc-Cl A
 
Common Stock
 
802

 
 
 
Tangoe Inc/Ct
 
Common Stock
 
792

 
 
 
Teledyne Technologies Inc
 
Common Stock
 
3,053

 
 
 
Tempur Sealy Internationa
 
Common Stock
 
3,552

 
 
 
Tennant Co
 
Common Stock
 
1,057

 
 
 
Tesaro Inc
 
Common Stock
 
2,241

 
 
 
Tesco Corp
 
Common Stock
 
298

 
 
 
Texas Capital Bancshares
 
Common Stock
 
2,649

 
 
 
Therapeuticsmd Inc
 
Common Stock
 
523

 
 
 
Thermon Group Holdings In
 
Common Stock
 
339

 
 
 
Tile Shop Hldgs Inc
 
Common Stock
 
1,722

 
 
 
Toro Co
 
Common Stock
 
2,894

 
 
 
Towne Bank
 
Common Stock
 
1,229

 
 
 
Treehouse Foods Inc
 
Common Stock
 
2,677

 
 
 
Triumph Group Inc
 
Common Stock
 
1,033

 
 
 
Tuesday Morning Corp
 
Common Stock
 
758


22
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
U.S. Physical Therapy Inc
 
Common Stock
 
1,064

 
 
 
Ultragenyx Pharmaceutical
 
Common Stock
 
84

 
 
 
Univar Inc
 
Common Stock
 
1,133

 
 
 
Universal American Corp
 
Common Stock
 
126

 
 
 
Urstadt Biddle - Class A
 
Common Stock
 
733

 
 
 
Valmont Industries
 
Common Stock
 
1,779

 
 
 
Waste Connections Inc
 
Common Stock
 
2,052

 
 
 
Webster Financial Corp
 
Common Stock
 
1,572

 
 
 
Wellcare Health Plans Inc
 
Common Stock
 
3,511

 
 
 
West Fraser Timber Co Ltd
 
Common Stock
 
426

 
 
 
Westamerica Bancorporatio
 
Common Stock
 
784

 
 
 
Western Alliance Bancorp
 
Common Stock
 
2,995

 
 
 
Wingstop Inc
 
Common Stock
 
950

 
 
 
Wisdomtree Investments In
 
Common Stock
 
466

 
 
 
Woodward Inc
 
Common Stock
 
234

 
 
 
Wright Medical Group Nv
 
Common Stock
 
1,888

 
 
 
Xencor Inc
 
Common Stock
 
346

 
 
 
Zendesk Inc
 
Common Stock
 
714

 
 
 
Zillow Group Inc - A
 
Common Stock
 
102

 
 
 
Zillow Group Inc - C
 
Common Stock
 
167

 
 
 
Zumiez Inc
 
Common Stock
 
1,492

 
 
 
US Govt STIF 5 Bps
 
Money Market Securities
 
997

 
 
 
 T.Rowe Price Tre Res Fund
 
Mutual Funds
 
6,267

 
 
International Equity Portfolio:
 
 
 
 
 
 
 
 
 
Federated Gov Obli Fund
 
Money Market Securities
 
3,214

 
 
 
 AAC Technologies H-Unspon
 
Common Stock
 
1,879

 
 
 
 ABB Ltd-Spon Adr
 
Common Stock
 
1,763

 
 
 
 Adecco Group Ag-Reg-Unsp
 
Common Stock
 
2,248

 
 
 
 Aflac Inc
 
Common Stock
 
2,397

 
 
 
 Air Liquide-Unsponsored A
 
Common Stock
 
1,880

 
 
 
 Allianz Se-Spon Adr
 
Common Stock
 
2,260

 
 
 
 Astellas Pharma Inc-Unsp
 
Common Stock
 
1,969

 
 
 
 Axa -Spons Adr
 
Common Stock
 
2,312

 
 
 
 Banco Bilbao Vizcaya-Sp A
 
Common Stock
 
2,187

 
 
 
 Bancolombia S.A.-Spons Ad
 
Common Stock
 
2,212

 
 
 
 BASF Se-Spon Adr
 
Common Stock
 
1,730

 
 
 
 BHP Billiton Ltd-Spon Adr
 
Common Stock
 
1,252

 
 
 
 BNP Paribas-Adr
 
Common Stock
 
2,225

 
 
 
 Carrefour Sa-Sp Adr
 
Common Stock
 
2,126

 
 
 
 Coca-Cola Hbc Ag-Unsn Adr
 
Common Stock
 
1,717

 
 
 
 Compass Group Plc-Spon Ad
 
Common Stock
 
1,986

 
 
 
 Continental Ag-Spons Adr
 
Common Stock
 
2,474

 
 
 
 Credicorp Ltd
 
Common Stock
 
2,457

 
 
 
 CSL Ltd-Sponsored Adr
 
Common Stock
 
1,621

 
 
 
 Dassault Systemes S-Spon
 
Common Stock
 
1,103

 
 
 
 Diageo Plc-Sponsored Adr
 
Common Stock
 
1,782


23
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
 Enbridge Inc
 
Common Stock
 
1,576

 
 
 
 Fanuc Corp-Unsp Adr
 
Common Stock
 
1,044

 
 
 
 Fresenius Se & Co-Spn Adr
 
Common Stock
 
1,680

 
 
 
 Fuji Heavy Indus-Unspons
 
Common Stock
 
2,495

 
 
 
 Gemalto Nv-Sponsored Adr
 
Common Stock
 
1,971

 
 
 
 Givaudan-Unspon Adr
 
Common Stock
 
1,674

 
 
 
 Grupo Fin Banorte-Spon Ad
 
Common Stock
 
2,179

 
 
 
 Henkel Kgaa-Spons Adr Pfd
 
Common Stock
 
1,806

 
 
 
 Imperial Oil Ltd
 
Common Stock
 
1,544

 
 
 
 Japan Tobacco Inc-Unspon
 
Common Stock
 
1,757

 
 
 
 JGC Corp-Unsponsored Adr
 
Common Stock
 
1,505

 
 
 
 Komatsu Ltd -Spons Adr
 
Common Stock
 
1,473

 
 
 
 Kubota Corp-Spons Adr
 
Common Stock
 
1,772

 
 
 
 L'Oreal-Unsponsored Adr
 
Common Stock
 
1,464

 
 
 
 Macquarie Group Ltd-Adr
 
Common Stock
 
1,664

 
 
 
 Magna International Inc
 
Common Stock
 
2,858

 
 
 
 Mettler-Toledo Internatio
 
Common Stock
 
1,839

 
 
 
 MTN Group Ltd-Spons Adr
 
Common Stock
 
1,654

 
 
 
 Muenchener Rueck-Unspon A
 
Common Stock
 
2,389

 
 
 
 Nestle Sa-Spons Adr
 
Common Stock
 
1,779

 
 
 
 Nitto Denko Corp-Unspons
 
Common Stock
 
1,701

 
 
 
 Novartis Ag-Sponsored Adr
 
Common Stock
 
1,589

 
 
 
 Novo-Nordisk A/S-Spons Ad
 
Common Stock
 
1,869

 
 
 
 NXP Semiconductors NV
 
Common Stock
 
628

 
 
 
 Orix - Sponsored Adr
 
Common Stock
 
2,108

 
 
 
 Pandora A/S-Unsp Adr
 
Common Stock
 
2,044

 
 
 
 Prudential Plc-Adr
 
Common Stock
 
1,392

 
 
 
 Reckitt Benckiser-Spon Ad
 
Common Stock
 
1,748

 
 
 
 Roche Holdings Ltd-Spons
 
Common Stock
 
1,890

 
 
 
 Royal Dutch Shell-Spon Ad
 
Common Stock
 
1,866

 
 
 
 Ryanair Holdings Plc-Sp A
 
Common Stock
 
2,079

 
 
 
 Sandvik Ab-Sponsored Adr
 
Common Stock
 
1,569

 
 
 
 SAP Se-Sponsored Adr
 
Common Stock
 
1,569

 
 
 
 Schlumberger Ltd
 
Common Stock
 
928

 
 
 
 Siemens Ag-Spons Adr
 
Common Stock
 
2,134

 
 
 
 Singapore Telecommunicat-
 
Common Stock
 
1,934

 
 
 
 SKF Ab-Sponsored Adr
 
Common Stock
 
1,868

 
 
 
 Svenska Cellulosa Ab-Sp A
 
Common Stock
 
1,825

 
 
 
 Sysmex Corp-Unspon Adr
 
Common Stock
 
1,616

 
 
 
 Taiwan Semiconductor-Sp A
 
Common Stock
 
1,978

 
 
 
 Tokyo Electron Ltd-Unsp A
 
Common Stock
 
1,784

 
 
 
 Total SA-Spon Adr
 
Common Stock
 
1,911

 
 
 
 Volkswagen Ag-Spons Adr
 
Common Stock
 
2,399

 
 
 
 Walmart De Mexico-Spon Ad
 
Common Stock
 
1,577

 
 
 
 Woodside Petroleum-Sp Adr
 
Common Stock
 
1,597

 
 
 
 WPP PLC-Sponsored Adr
 
Common Stock
 
1,816


24
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
Large Cap Growth Portfolio:
 
 
 
 
 
 
Activision Blizzard Inc
 
Common Stock
 
9,282

 
 
 
Acuity Brands Inc
 
Common Stock
 
5,373

 
 
 
Adobe Systems Inc
 
Common Stock
 
8,238

 
 
 
Alexion Pharmaceuticals I
 
Common Stock
 
9,604

 
 
 
Alibaba Group Holding-Sp
 
Common Stock
 
10,193

 
 
 
Amazon.com Inc
 
Common Stock
 
12,776

 
 
 
Biogen Inc
 
Common Stock
 
7,925

 
 
 
Bristol-Myers Squibb Co
 
Common Stock
 
13,100

 
 
 
Celgene Corp
 
Common Stock
 
11,120

 
 
 
Dexcom Inc
 
Common Stock
 
5,318

 
 
 
Edwards Lifesciences Corp
 
Common Stock
 
7,114

 
 
 
Facebook Inc-A
 
Common Stock
 
9,587

 
 
 
Illumina Inc
 
Common Stock
 
8,827

 
 
 
Intercept Pharmaceuticals
 
Common Stock
 
7,112

 
 
 
Intercontinental Exchange
 
Common Stock
 
8,368

 
 
 
Mercadolibre Inc
 
Common Stock
 
6,702

 
 
 
Mobileye Nv
 
Common Stock
 
9,291

 
 
 
Monster Beverage Corp
 
Common Stock
 
8,996

 
 
 
Nike Inc -Cl B
 
Common Stock
 
11,175

 
 
 
Nvidia Corporation
 
Common Stock
 
3,683

 
 
 
Palo Alto Networks Inc
 
Common Stock
 
6,814

 
 
 
Priceline Group Inc/The
 
Common Stock
 
10,436

 
 
 
Salesforce.com Inc
 
Common Stock
 
9,295

 
 
 
Schwab (Charles) Corp
 
Common Stock
 
8,862

 
 
 
Servicenow Inc
 
Common Stock
 
8,814

 
 
 
Sherwin-Williams Co/The
 
Common Stock
 
8,438

 
 
 
Shire Plc-Adr
 
Common Stock
 
5,691

 
 
 
Splunk Inc
 
Common Stock
 
8,205

 
 
 
Starbucks Corp
 
Common Stock
 
11,290

 
 
 
TJX Companies Inc
 
Common Stock
 
5,932

 
 
 
Ulta Beauty Inc
 
Common Stock
 
3,258

 
 
 
Vertex Pharmaceuticals In
 
Common Stock
 
9,218

 
 
 
Visa Inc-Class A Shares
 
Common Stock
 
9,094

 
 
 
Dreyfus Treasury & Agency
 
Common Stock
 
3,799

 
 
Total separately managed accounts
 
1,742,565

Fully Benefit-Responsive Contracts:
 
 
 
 
 
 
 
 
Capital Preservation Portfolio:
 
 
 
 
 
 
 
 
 
* T Rowe Price Reserve Inv Fund
 
Mutual and Trust Fund
 
93,210

 
 
 
* T Rowe Price Short Term Common:
 
 
 
 
 
 
 
    American General Life
 
Mutual and Trust Fund
 
52,436

 
 
 
    Bank of Tokyo-Mitsubishi UFJ Trust
 
Mutual and Trust Fund
 
39,913

 
 
 
    Prudential Building Block Trust
 
Mutual and Trust Fund
 
59,404

 
 
 
    State Street Building Block Trust
 
Mutual and Trust Fund
 
62,479

 
 
 
    Pacific Life Building Block Trust
 
Mutual and Trust Fund
 
65,066

 
 
 
    RBC Building Block Trust
 
Mutual and Trust Fund
 
83,517


25
Table of Contents

COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2016
(in thousands)


Identity of issuer, borrower,
lessor, or similar party
 
Description of investment
 
Current value
 
 
 
    Transamerica Building Block Trust
 
Mutual and Trust Fund
 
57,926

 
 
 
* T Rowe Price Int Term Common:
 
 
 
 
 
 
 
    Bank of Tokyo-Mitsubishi UFJ Trust
 
Mutual and Trust Fund
 
34,823

 
 
 
    Prudential Building Block Trust
 
Mutual and Trust Fund
 
51,828

 
 
 
    State Street Building Block Trust
 
Mutual and Trust Fund
 
54,511

 
 
 
    Pacific Life Building Block Trust
 
Mutual and Trust Fund
 
56,768

 
 
 
    American General Life
 
Mutual and Trust Fund
 
45,749

 
 
 
    RBC Building Block Trust
 
Mutual and Trust Fund
 
72,866

 
 
 
    Transamerica Building Block Trust
 
Mutual and Trust Fund
 
50,539

 
 
 
* T Rowe Price Managed Bond:
 
 
 
 
 
 
 
    Bank of Tokyo-Mitsubishi UFJ Trust
 
Mutual and Trust Fund
 
9,862

 
 
 
    Prudential Building Block Trust
 
Mutual and Trust Fund
 
14,678

 
 
 
    State Street Building Block Trust
 
Mutual and Trust Fund
 
15,438

 
 
 
    Pacific Life Building Block Trust
 
Mutual and Trust Fund
 
16,077

 
 
 
    American General Life
 
Mutual and Trust Fund
 
12,957

 
 
 
    RBC Building Block Trust
 
Mutual and Trust Fund
 
20,636

 
 
 
    Transamerica Building Block Trust
 
Mutual and Trust Fund
 
14,313

 
 
 
Metropolitan Life
 
Separate Account Contracts
 
184,828

 
 
 
Uninvested Cash
 
Cash
 
798

 
 
Total Fully Benefit-Responsive Contracts
 
1,170,622

 
* Costco Wholesale Corporation
 
Common stock
 
4,606,549

Total investments
 
11,435,462

 
 
 
 
 
 
 
Participant loans
 
Interest rates of 4.25% to 11.50% maturing through December 2031
 
454,622

Total
 
$
11,890,084

_________________________
* Indicates a party-in-interest

See accompanying report of independent registered public accounting firm.

26
Table of Contents


SIGNATURE

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 15, 2017
 
By
/s/ PATRICK CALLANS
Date
 
 
Patrick Callans
Senior Vice President
Costco Wholesale Corporation

27