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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
(Mark One)
☒ | ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2018.
OR
☐ | TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 |
For transition period from ____________ to _____________.
Commission file number - 001-14410
A. | Full title of the plan and address of the plan if different from that of the issuer named below: |
AXA Equitable 401(k) Plan, 1290 Avenue of Americas, New York, NY 10104
B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
AXA, S.A.
25, Avenue Matignon, 75008 Paris, France
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AXA EQUITABLE 401(k) PLAN
FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2018 AND 2017
AND FOR THE YEAR ENDED
DECEMBER 31, 2018
AND SUPPLEMENTAL SCHEDULE
AS OF DECEMBER 31, 2018
AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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AXA EQUITABLE 401(k) PLAN
* Refers to item number in IRS Form 5500 (Annual Return/Report of Employee Benefit Plan) for the year ended December 31, 2018.
All other schedules required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 (“ERISA”) have been omitted because they are not applicable.
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Report of Independent Registered Public Accounting Firm
To the Administrator and Plan Participants of the AXA Equitable 401(k) Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the AXA Equitable 401(k) Plan (the “Plan”) as of December 31, 2018 and December 31, 2017 and the related statement of changes in net assets available for benefits for the year ended December 31, 2018, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2018 and December 31, 2017, and the changes in net assets available for benefits for the year ended December 31, 2018 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Information
The supplemental schedule of Schedule H, Part IV, Line 4i Schedule of Assets (Held at End of Year) as of December 31, 2018 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule 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 supplemental schedule, we evaluated whether the supplemental schedule, 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 schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.
New York, New York
June 27, 2019
We have served as the Plan’s auditor since 2007.
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STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2018 AND 2017
December 31, | ||||||||
2018 | 2017 | |||||||
Assets | ||||||||
Investments, at fair value (Notes 3 and 4) | $ | 1,420,460,129 | $ | 1,611,807,024 | ||||
Investments, in fully benefit-responsive Investment Contracts, at contract value (Note 5) | 465,579,995 | 493,617,218 | ||||||
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Total Investments | 1,886,040,124 | 2,105,424,242 | ||||||
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Receivables | ||||||||
Employer contributions | 10,320,690 | 6,847,469 | ||||||
Notes receivable from participants (Note 1) | 22,436,798 | 24,772,281 | ||||||
Other receivables | 6,522 | 8,865 | ||||||
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Total receivables | 32,764,010 | 31,628,615 | ||||||
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Total assets | 1,918,804,134 | 2,137,052,857 | ||||||
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Liabilities | ||||||||
Accrued expenses and Operating Payables | 358,992 | 392,186 | ||||||
Other Liabilities | 123,397 | 131,782 | ||||||
Amounts pending purchase | 10,780,592 | 6,801,662 | ||||||
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Total liabilities | 11,262,981 | 7,325,630 | ||||||
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Net assets available for benefits | $ | 1,907,541,153 | $ | 2,129,727,227 | ||||
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See accompanying notes to the financial statements
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STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2018
Year Ended December 31, 2018 | ||||
Additions | ||||
Investment income/(loss) | ||||
Net depreciation in fair value of investments (Note 3) | $ | (128,948,700 | ) | |
Interest | 10,357,740 | |||
Dividends | 9,814,189 | |||
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Net investment loss | (108,776,771 | ) | ||
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Interest income on notes receivable from participants | 1,234,493 | |||
Contributions | ||||
Participant | 69,461,562 | |||
Employer | 34,222,325 | |||
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Total contributions | 103,683,887 | |||
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Net deductions | (3,858,391 | ) | ||
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Deductions | ||||
Benefits paid to participants | 151,037,958 | |||
Administrative expenses, net of forfeitures | 5,271,115 | |||
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Total deductions | 156,309,073 | |||
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Net decrease prior to transfer to unaffiliated plan | (160,167,463 | ) | ||
Transfer to other unaffiliated plan | (62,018,611 | ) | ||
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Net decrease | (222,186,074 | ) | ||
Net assets available for benefits | ||||
Beginning of year | 2,129,727,227 | |||
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End of year | $ | 1,907,541,153 | ||
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See accompanying notes to the financial statements
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NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
1. | DESCRIPTION OF THE PLAN |
The following description of the AXA Equitable 401(k) Plan (the “Plan”) sponsored by AXA Equitable Life Insurance Company (“AXA Equitable” or the “Company”) is provided for general information purposes only. Participants should refer to the Plan document for more complete information.
General
The Plan is a defined contribution plan with a cash or deferred arrangement providing benefits for eligible common-law employees and statutory employees of AXA Equitable and certain participating affiliates. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended, and the Internal Revenue Code of 1986 (the “Code”), as amended.
Plan Fiduciary, Administrator and Trustee
The named fiduciaries of the Plan are the Administrative Committee and the Investment Committee. The Administrative Committee serves as the Plan administrator, Northern Trust is the custodian, trustee and disbursement agent of the Plan, and Fidelity Trust Company (“Fidelity”) serves as the legal custodian for the fixed income investments.
Plan Expenses and Administration
The Plan has an administrative agreement with Alight, effective March 21, 2011, as amended from time to time for the recordkeeping and administration of the Plan. The Plan reimburses AXA Equitable for administrative services paid on the Plan’s behalf (see Note 6).
Plan Amendment
The following represents the material amendments made to the Plan for the 2018 Plan year:
The Plan was amended effective September 5, 2018 to permit the Chief Human Resource Officer to appoint Committee members to be responsible for reviewing investment guidelines, monitoring asset managers, selecting asset allocations and investment options for the Plan, and delegating such responsibility as deemed appropriate.
As a consequence of the stock sale of AXA Equitable Holdings in May of 2018, certain participating employers that were participating in the AXA Equitable 401(k) Plan were no longer part of a controlled group with AXA Equitable Life Insurance Company and were no longer able to actively contribute to the AXA Equitable 401(k) Plan. Accordingly, those participating employers ceased participation in the AXA Equitable 401(k) Plan effective March 31, 2018. The Plan assets of $62,018,611 associated with those related employers whose participation ceased were transferred to an unaffiliated successor defined contribution plan on September 18, 2018.
The Plan was also amended effective December 21, 2018, to update the list of participating employers to reflect cessation of participants by certain related employers of the AXA Investment Managers, AXA Technology Services America, AXA Liabilities Managers, AXA Art Insurance Corporation, Fine Art Service International, AXA Insurance Company, AXA Art America’s Corporation, and AXA Strategic Ventures Corporation.
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
1. | DESCRIPTION OF THE PLAN (continued) |
Eligibility
The Plan covers full-time employees, “Group I” part-time employees, financed financial professionals, and statutory employees, as well as other employees of AXA Equitable and employees of certain participating affiliates who are scheduled to work a minimum of 1,000 hours in a Plan year.
Contributions
Eligible new hires are automatically enrolled in the Plan after performing one hour of service. Each year, participants may contribute to the Plan on a before-tax basis, an after-tax basis, or a Roth 401(k) basis (or any combination of the foregoing), up to a percentage of annual compensation as defined in the Plan. The Plan has an automatic participation feature with a 30-day opt-out option. Eligible new hires who do not opt out, are automatically deemed to have elected a 5% before-tax contribution rate, which is automatically invested in the target allocation fund closest to the individual’s 65th birthday. Participants can elect to have before-tax contributions automatically increase each year by 1% until the participant reaches a 10% deferral percentage or elects out of the automatic increase program. New hires can opt-out, or change their contribution rate or investment options at any time. The maximum before-tax and/or Roth 401(k) contribution a participant can contribute is 75% of his or her annual eligible compensation, subject to reduction by limits imposed by the Code ($18,500 for 2018).
The maximum after-tax contribution is $10,000 (prior to January 1, 2014, $25,000) or 20% of the participant’s annual eligible compensation (10% for Puerto Rican participants and up to $10,000 per Plan year), whichever is less, provided that the participant’s combined before-tax, Roth 401(k) and after-tax contributions cannot exceed 95% of his or her annual eligible compensation (Puerto Rican participants cannot make 401(k) Roth contributions). Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions in the amount of $6,000 for 2018 (The catch up contribution limit is $1,500 for Puerto Rican participants). The maximum before-tax and/or Roth 401(k) contribution that a participant eligible for catch up contributions can contribute per the Code was $24,500 for 2018. Total maximum contribution for all contributions is the amount of $55,000 for 2018 for 401(k) and for Puerto Rico Plan participants. Puerto Rico Plan participants are subjected to a $18,500 annual elective deferral limit and an age 50+ catch up contribution limit of $1,500 ($1,500 for 2018), for a total elective contribution limit of $20,000 for Puerto Rican participants.
Participants may also contribute amounts representing eligible rollover distributions from other qualified defined benefit or defined contribution plans.
For purposes of the Plan, compensation (i) does not include deferred earnings at the time earned but includes them at time of receipt so long as the participant is still in service with the Company or its participating affiliates and their affiliates or subsidiaries and (ii) does not include non-benefits eligible compensation. In addition, effective January 1, 2014, for purposes of computing Company Contributions (“Company Contribution”), compensation shall exclude any distributions of deferred earnings including the earnings and losses thereon received by a participant which are attributable to his or her elective deferrals made to the AXA Equitable Post-2004 Variable Deferred Compensation Plan on or after January 1, 2014 solely for the purpose of determining the Company Contributions.
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
1. | DESCRIPTION OF THE PLAN (continued) |
Effective February 12, 2012, the Company and certain participating affiliates replaced the 3% matching contribution with a discretionary performance based (prior to February 2016, known as a profit sharing) contribution opportunity of up to 4% compensation if the applicable employer meets certain performance goals. Other participating affiliates continue to make matching contributions. For 2018, the Company made a performance based contribution of $10,320,690 in March 2019. For 2017 the Company made a performance based contribution of $6,847,469 in March 2018.
The Plan was also amended on December 30, 2013 to add effective with the first payroll period ending in the 2014 calendar year, a Company contribution for all participants except AXA Liabilities Managers Inc., AXA Art Insurance Corporation and Fine Art Services International (U.S.) Inc., or effective January 1, 2013, AXA Insurance Company and AXA Art Americas Corporation (collectively “AXA LM”) participants. Such payroll contributions will equal to, each Plan year, 2.5% of the eligible participant’s eligible annual compensation up to the Social Security Wage Base ($128,400 in 2018) and of 5% of the eligible participant’s eligible annual compensation in excess of the Social Security Wage Base up to the IRS compensation limit of $275,000 in 2018, provided that such participant meets certain employment conditions.
AXA Investment Managers, S.A.’s subsidiaries: AXA Private Equity US LLC and AXA IM Rose, Inc. or effective January 1, 2014, AXA Real Estate Managers US LLC and AXA Investment Managers Inc. (“AXA IM”) continued to provide a matching contribution which shall be not more than 4% of the applicable participant’s compensation (prior to January 1, 2014, 3%) and did not adopt the new performance based/ profit sharing contribution formula.
AXA LM continues to provide to AXA LM Participants a 5% matching contribution and a retirement program contribution which is based on the AXA LM participant’s age and years of service.
Performance based contributions (if any), Company Contributions and matching contributions are invested in (i) accordance with the participants’ current investment election or, (ii) if no election, in the qualified default investment alternative designated by the Investment Committee, which is the target allocation fund closest to the individual’s 65th birthday.
The Plan was amended in 2015 to provide that effective January 1, 2015, any service performed for Global Reinsurance Company of America prior to January 1, 2015, will be generally recognized as vesting service.
The Plan was amended in 2015 to allow effective September 25, 2015, the conversion of at least $500 or more of the participant’s eligible vested Plan account balance to a Roth 401(k) account no more than twice a year.
Allocation Provisions
Participants direct the investment of their contributions into various investment options offered by the Plan. In 2018, the Plan offered twelve target allocation funds through a group annuity contract, ten mutual funds, a Company stock fund, a self-directed brokerage window program and a fixed income fund as investment options for participants. Effective July 21, 2010, the Company stock fund changed from a unitized stock fund to an individual share accounting fund. No new contributions, loan repayments, or transfers can be made to the Company stock fund on or after March 22, 2010. All dividend income granted to participants invested within the common stock are paid to the participants and are not reinvested within the fund.
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
1. | DESCRIPTION OF THE PLAN (continued) |
Participant Accounts
Each participant’s account is credited with the participant’s contribution, matching contribution/ performance based contribution, company contribution and investment earnings/losses, and is also charged with an annual fee for administrative expenses taken proportionately on a quarterly basis from each participant’s account. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account balance.
Notes Receivable from Participants
Active participants may borrow from their fund accounts, a minimum of $1,000 up to a maximum equal to the lesser of (i) $50,000 or (ii) 50% of their vested account balance (minus any outstanding loans). Participants may have up to two loans outstanding at any time, either two general purpose loans or one residential and one general purpose loan. The loans are collateralized by the balance in the participant’s account. Interest on the loan is equal to the prime rate at the beginning of the calendar quarter during which the loan is issued plus one percent. The interest rates for all outstanding loans in good standing ranged from 4.25% to 7.75% and from 4.25% to 8.75% as of December 31, 2018 and 2017, respectively.
Principal and interest is paid over a range of one to five years for general purpose loans and five to fifteen years for residential loans. Participants whose loan is deemed distributed are not permitted to actively participate in the Plan for 6 months from the date of the deemed distribution (Under Section 11.7 of the 401(k) Plan, a 401(k) Plan participant who fails to pay the required loan payments in any month shall have the amount of such loan (plus any accrued interest) deemed to be a distribution under Internal Revenue Code Section 72(p)(1)(A) if the Participant fails to bring the loan current by the end of the following calendar quarter), which means that they will not be able to make employee deferrals or receive matching contributions but will, however, be eligible to receive the performance based contribution (if any) and the Company Contributions. However, an active participant is permitted to transfer account balances among investment funds (except to the Company stock fund).
Payment of Benefits
Upon termination of service, including due to death, disability, or retirement, the normal forms of benefit are a single sum cash payment or for single individuals is a straight life annuity and for married individuals is a qualified joint and survivor annuity. Additional forms of distribution available for participants include monthly installments or the purchase of an annuity. Required minimum distributions as required by the Code are also paid, as necessary. Participants may also become eligible for benefit distributions through special circumstances, such as natural disasters, in accordance with IRS guidance. For participants who have MONY Life Retirement Plan for Field Underwriters (“FURP”) subaccounts the normal form of benefit for single individuals is a straight life annuity and for married individuals is a qualified joint and survivor annuity.
A participant who has separated from service or is disabled (as defined under the Plan) may elect to receive partial lump sum withdrawals from his or her vested account balance.
If a participant were to default, the participant’s account as reflected in Notes Receivable from Participants will be reduced by the unpaid balance of the loan. Upon default, the Plan will also record the defaulted loan balance as a benefit payment to the participant. An individual default will have no effect on the other plan participants’ investment balances.
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
1. | DESCRIPTION OF THE PLAN (continued) |
Vesting
Participants are vested immediately in their own contributions plus actual earnings, if any, thereon. Matching contributions, performance based contributions and Company Contributions are vested upon completion of three years of service. Participants also become 100% vested upon reaching normal retirement age, or becoming disabled, or dying while in service, or if AXA Equitable terminates the Plan or discontinues all employer contributions.
Special vesting rules apply for certain participants. AXA LM participants are fully vested in their retirement program contributions. In addition, the Plan recognizes prior vesting service for certain participants who were employed by AXA Rosenberg Investment Management LLC and its affiliates and Global Reinsurance Company of America prior to being employed by AXA Equitable or its participating employer if they meet certain employment date conditions.
Effective September 30, 2013, participants who were employed by AXA Private Equity U.S. LLC immediately prior to September 30, 2013 and effective October 1, 2013, participants whose employment was transferred to Protective Life Insurance Company pursuant to the corporate transactions contemplated in the Master Agreement by and among AXA Equitable Financial Services, LLC, AXA Financial, Inc. and Protective Life Insurance Company, dated as of April 10, 2013, were fully vested in their benefits.
Forfeited Accounts
Upon termination of service, other than due to death or disability (as defined under the Plan), a participant will forfeit the non-vested portion of his or her account balance. Forfeitures will be used to pay for administrative expenses (see Note 7) or to reduce Company contributions, matching contributions or performance based contributions (if any). The balance in the forfeiture account totaled $5,695,039 and $4,818,485 at December 31, 2018 and 2017, respectively. During 2018, $2,277,613 from the forfeiture account was used to pay for administrative expenses.
2. | SUMMARY OF ACCOUNTING POLICIES |
Use of Estimates and Basis of Accounting
The accompanying financial statements are prepared in conformity with U.S. generally accepted accounting principles (“US GAAP”) which requires management to make estimates that affect the financial statements and accompanying notes. Actual results could differ from those estimates.
New Accounting Pronouncements
In August 2018, the Financial Accounting Standard Board (FASB) issued Accounting Standards Update (ASU) 2018-13: This ASU improves the effectiveness of fair value disclosures in the notes to financial statements. Amendments in this ASU impact the disclosure requirements in Topic 820, including the removal, modification and addition to existing disclosure requirements.
Effective for fiscal years beginning after December 15, 2019. Early adoption is permitted, with the option to early adopt amendments to remove or modify disclosures, with full adoption of additional disclosure requirements delayed until the stated effective date. Amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively. All other amendments should be applied retrospectively.
Management currently is evaluating the impact of the guidance on the Plan’s financial statement disclosures.
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
2. | SUMMARY OF ACCOUNTING POLICIES (Continued) |
Valuation of Investments and Income Recognition
The Plan’s investments are stated at fair value, except for fully benefit-responsive investment contracts which are reported at contract value. The Plan’s Investment Committee determines the Plan’s valuation policies and procedures utilizing information provided by its investment advisors and trustee. A description of the valuation methodologies used for assets measured at fair value is described in Note 3, Fair Value Disclosures. Purchases and sales of securities are recorded on a trade-date basis. The cost of investments on sales is determined using specific identification. Dividends are recorded on the ex-dividend date. Interest income is recorded on an accrual basis.
Net appreciation/ (depreciation) includes the Plan’s unrealized and realized gains and losses on investments bought and sold as well as held during the year.
Fully benefit-responsive investment contracts are stated at contract value, which is the relevant measurement attribute for these contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. Contract values, as reported by Fidelity, represent contributions made under the contract, plus earnings, less participant withdrawals, and administrative expense. Participants may ordinarily direct withdrawal or transfer of all or a portion of their investment at contract value.
Payment of Benefits
Benefits are recorded when paid.
3. | FAIR VALUE DISCLOSURES |
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting guidance also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value:
Level 1 | Quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. |
Level 3 | Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. |
The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in methodologies used at December 31, 2018 and 2017.
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
3. | FAIR VALUE DISCLOSURES (continued) |
Common stock
Common Stock valued based on the last sale price traded in an active market generally would be classified as Level 1. Securities traded in market with no trade volume in last 5 days or restricted trade are considered Level 2.
Mutual funds
Mutual funds valued at the closing net asset value of shares held by the Plan are classified as Level 1. When quoted prices in active markets are not available these securities are generally considered either Level 2 or 3 depending on the availability and observability of the inputs most significant to the measurement of fair value, hence there are no redemption restrictions.
Short-term investments
Short-term investments primarily consist of interest bearing cash in a clearing account.
Self-Directed Brokerage Account (“SDBA”)
Part of participant account balances that have been transferred to the brokerage account by the participants, and invested in mutual funds as chosen by the participant.
Collective Trusts
Collective trust funds are stated at fair market based on the collective trust funds fair market value of the underlying investments. Funds with a daily “published” NAV that is used to support transactable activity (purchases/redemptions) even though the price is not in the public domain are classified as Level 2. When quoted prices in active markets are not available these securities are generally considered either Level 2 or 3 depending on the availability and observability of the inputs most significant to measure of fair value, hence there are no redemption restrictions.
The methodologies used to measure the fair values of the Plan’s investments may produce amounts that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with those applied by other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
Assets measured at fair value on a recurring basis as of December 31, 2018:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Collective Trusts | $ | — | $ | 579,467,339 | $ | — | $ | 579,467,339 | ||||||||
Common stock: | — | 47,821,621 | — | 47,821,621 | ||||||||||||
Mutual funds: | ||||||||||||||||
Index | 526,609,700 | — | — | 526,609,700 | ||||||||||||
Growth | 152,548,048 | — | — | 152,548,048 | ||||||||||||
Fixed income | 15,517,484 | — | — | 15,517,484 | ||||||||||||
Others | 59,554,811 | — | — | 59,554,811 | ||||||||||||
Self Directed Brokerage Account | 32,875,436 | — | — | 32,875,436 | ||||||||||||
Short-term investments | 6,065,690 | — | — | 6,065,690 | ||||||||||||
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Total assets | $ | 793,171,169 | $ | 627,288,960 | $ | — | $ | 1,420,460,129 | ||||||||
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
3. | FAIR VALUE DISCLOSURES (continued) |
In 2018, there were no transfers between fair value levels. All transfers between levels of the fair value hierarchy are recognized at the beginning of the calendar quarter in which the actual date of transfer occurred.
Assets measured at fair value on a recurring basis as of December 31, 2017:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Collective Trusts | $ | — | $ | 642,790,412 | $ | — | $ | 642,790,412 | ||||||||
Common stock: | — | 72,473,358 | — | 72,473,358 | ||||||||||||
Mutual funds: | ||||||||||||||||
Index | 608,768,943 | — | — | 608,768,943 | ||||||||||||
Growth | 169,410,315 | — | — | 169,410,315 | ||||||||||||
Fixed income | 4,538,804 | — | — | 4,538,804 | ||||||||||||
Others | 75,007,056 | — | — | 75,007,056 | ||||||||||||
Self Directed Brokerage Account | 33,384,737 | — | — | 33,384,737 | ||||||||||||
Short-term investments | 5,433,399 | — | — | 5,433,399 | ||||||||||||
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Total assets | $ | 896,543,254 | $ | 715,263,770 | $ | — | $ | 1,611,807,024 | ||||||||
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In 2017, there were no transfers between fair value levels. All transfers between levels of the fair value hierarchy are recognized at the beginning of the calendar quarter in which the actual date of transfer occurred.
4. | PLAN SPONSOR STOCK ACCOUNT |
Information about the net assets and the significant components of the changes in net assets relating to the Plan Sponsor Stock investments is as follows:
December 31, | ||||||||
2018 | 2017 | |||||||
Net assets | ||||||||
Common stock | $ | 47,821,621 | $ | 72,473,358 | ||||
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Changes in net assets | ||||||||
Net depreciation | (19,085,637 | ) | ||||||
Benefits paid to participants | (2,333,282 | ) | ||||||
Net transfers to participant-directed investments | (3,232,818 | ) | ||||||
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Total | $ | (24,651,737 | ) | |||||
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
5. | GUARANTEED INVESTMENT CONTRACTS |
The Plan has entered into fully benefit-responsive synthetic Guaranteed Investment Contracts (“GICs”) with various insurance companies and other financial institutions (“Issuers” or “Issuer”) under the fixed income fund investment option (the “Fund”) as indicated in the tables below.
Synthetic GIC
A Synthetic GIC is a wrap contract paired with an underlying investment or investments, usually a portfolio, owned by the Plan, of high-quality, intermediate term fixed income securities. The Plan purchases a wrapper contract from a financial services institution with the intent of maintaining a stable contract value. The fair value of a Synthetic GIC equals that total of the fair value of the underlying assets plus the total wrap rebid value, which is calculated by discounting the annual rebid fee, due to rebid, over the duration of the contract assets.
A Synthetic GIC provides for a variable crediting rate, which typically resets at least quarterly, and the issuer of the wrap contract provides assurance those future adjustments to the crediting rate cannot result in a crediting rate of less than zero. The crediting rate is primarily based on the current yield-to-maturity of the covered investments, plus or minus amortization of the difference between the market value and contract value of the covered investments over the duration of the covered Investments at the time of computation. The crediting rate is most impacted by the change in the annual effective yield to maturity of the underlying securities, but is also affected by the differential between the contract value and the market value of the covered investments. This difference is amortized over the duration of the covered investments. Depending on the change in duration from reset period to reset period, the magnitude of the impact to the crediting rate of the contract to market difference is heightened or lessened.
The terms of the contract generally provide for settlement of payments only upon termination of the contract or total liquidation of the covered investments. Generally, payments will be made pro-rata, based on the percentage of investments covered by each issuer. Contract termination also may occur by either party upon election and notice.
A Synthetic GIC generally imposes conditions on both the Plan and the issuer which can result in terminations in the event of default by the Plan or the issuer. An issuer may terminate a contract if the appointed Investment Manager’s investment management authority over the contract is limited or terminated, as well as if all of the terms of the contract fail to be met (i.e., a breach of material obligation under the contract; a material misrepresentation; or a material amendment to the Plan agreement). In the event that the market value of the covered assets is below their contract value at the time of such termination by the issuer, the terminating issuer would not be required to make a payment to the Plan. The Plan may terminate and replace a contract in various circumstances, including where there is a default by the issuer. Instances where the issuer may be in default, include but are not limited to, the following: issuer breach of material obligation under the investment contract; a material misrepresentation; decline in the issuer’s long term credit rating below a threshold set forth in the contract; acquisition or reorganization of the issuer wherein the successor issuer does not satisfy the investment or credit guidelines applicable to the issuer. In the event that the market value of the covered assets is below their contract value at the time of such termination by the Plan, the Plan may elect to keep the contract in place until such time as the market value of the covered assets is equal to their contract value. The Plan may be unable to maintain a stable contract value if the Plan is unable to promptly find a replacement Synthetic GIC with comparable terms following termination of a Synthetic GIC contract. The Plan will attempt to assess the credit quality of issuers, but there is no guarantee as to the financial condition of an issuer. Synthetic GICs are nontransferable, have no trading market and there are a limited number of issuers.
12
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
5. | GUARANTEED INVESTMENT CONTRACTS (continued) |
The average yield for the Synthetic GICs based on actual earnings was 2.62% and 2.24% in 2018 and 2017, respectively. The average yield for Synthetic GICs based on the interest rate credited to participants was 2.28% and 1.94% in 2018 and 2017, respectively.
As described in Note 2, because the Synthetic GICs are fully benefit-responsive, contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the Synthetic GIC. Contract value represents contributions made under the contract, plus earnings, less participant withdrawals and administrative expenses. The Synthetic GICs purchased by the Plan are designed to pay all related participant-initiated transactions at contract value. Participant-initiated transactions are those transactions allowed by the Plan (typically this would include withdrawals for benefits, loans, or transfers to non-competing funds within the Plan).
However, the Synthetic GICs limit the ability of the Plan to transact at contract value with the Issuers upon the occurrence of certain events.
These events include:
• | The Plan’s failure to qualify under Section 401(a) or Section 401(k) of the Code; |
• | The establishment of a defined contribution plan that competes with the Plan for participants’ contributions; |
• | Any substantive modification of the Plan or the administration of the Plan that is not consented to by the Issuer; |
• | Complete or partial termination of the Plan; |
• | Any change in law, regulation or administrative ruling applicable to the Plan that could have a material adverse effect on the Fund’s cash flow; |
• | Merger or consolidation of the Plan with another plan, the transfer of Plan assets to another plan, or the sale, spin-off or merger of a subsidiary or division of the Plan Sponsor; |
• | Any communication given to participants by the Plan Sponsor or any other Plan fiduciary that is designed to induce or influence participants not to invest in the fund or to transfer assets out of the Fund; |
• | Exclusion of a group of previously eligible employees from eligibility in the Plan; |
• | Any early retirement program, group termination, group layoff, facility closing, or similar program; |
• | Any transfer of assets from the Fund directly to a competing option. |
The Plan administrator does not believe that the occurrence of any such event, which would limit the Plan’s ability to transact at contract value with participants, is probable.
There are no reserves against contract value for credit risk of the contract Issuer or otherwise.
13
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
5. | GUARANTEED INVESTMENT CONTRACTS (continued) |
The Synthetic GICs are summarized as follows:
December 31, | ||||||||
2018 | 2017 | |||||||
Synthetic GICs at contract value | ||||||||
JP Morgan Chase, #AXA-2-07 | $ | 99,287,139 | $ | 102,995,646 | ||||
State St Bk & Tr Co Boston, #107007 | 56,892,166 | 82,157,686 | ||||||
Prudential Ins Co America, #63048 | 101,862,937 | 108,628,546 | ||||||
American General Life, #931942 | 61,265,967 | 65,335,173 | ||||||
Nationwide Life ins Co | 55,112,779 | 58,773,300 | ||||||
Transamerica Premier Life | 71,010,443 | 75,726,867 | ||||||
Lincoln National Life | 20,148,564 | — | ||||||
|
|
|
| |||||
Total Guaranteed Investment Contracts | $ | 465,579,995 | $ | 493,617,218 | ||||
|
|
|
|
6. | RELATED-PARTY AND PARTY-IN-INTEREST TRANSACTIONS |
Alight is the record keeper and Northern Trust is the custodian trustee and disbursement agent of the Plan. Fidelity is the custodian for the GIC investments. The Plan invests in a fixed income fund managed by Fidelity. Certain Plan investments are managed by Funds Management Group, LLC and AllianceBernstein L.P., parties-in-interest. Both, Funds Management Group, LLC and AllianceBernstein L.P. are affiliates of AXA Equitable. Administrative service fees paid by the Plan directly to Funds Management Group, LLC were determined by the expense ratios of 0.95, 0.68 and 1.08 for the funds, EQ/MFS International K, EQ/AllianceBernstein Small Cap Growth and 1290 VT GAMCO Small Company Value K, respectively. Administrative service fees paid by the Plan directly to AllianceBernstein L.P., Fund Management Group LLC, Alight, Fidelity, and Northern Trust were $459,799, $62,771, $1,025,333, $189,110 and $297,905 respectively, during the year ended December 31, 2018.
The Plan incurred expenses in the amount of $2,047,077, including $232,298 and $181,988 of accrued expenses at December 31, 2018 and 2017, respectively, for administrative services paid by AXA Equitable on the Plan’s behalf.
The Plan also holds common stock issued by AXA, S.A., the parent of AXA Equitable as of December 31, 2018, which are evidenced by American Depository Receipts (“ADRs”). The AXA, S.A. ADRs held by participants were valued at $47,821,621 and $72,473,358 at December 31, 2018 and 2017, respectively. During the year ended December 31, 2018, the Plan received sales proceeds totaling $5,566,100 of AXA, S.A. ADRs. The Plan received $2,929,271 in dividend income during the year ended December 31, 2018 from AXA, S.A. ADRs held.
The Plan administrator and the Plan’s counsel believe that the Plan’s transactions with related parties and parties-in-interest are permitted by the U.S. Department of Labor’s prohibited transaction exemptions.
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
7. | PLAN TERMINATION |
Although it has not expressed any intent to do so, AXA Equitable has the right under the Plan to discontinue its contributions at any time and/or to terminate the Plan subject to the provisions of ERISA and the Code. In the event of Plan termination, the Participants would become 100% vested and assets will be distributed to participants in accordance with the provisions of the Plan.
8. | TAX STATUS |
The Internal Revenue Service has determined and informed AXA Equitable by a letter dated January 19, 2018, that the Plan and related trust are designed in accordance with applicable sections of the Code. Effective January 1, 2011, the Plan was amended to comply with the tax qualification provisions of the Puerto Rican tax code and to provide for dual qualification. A determination letter from the Puerto Rican Hacienda was received on October 25, 2013. The Plan has been amended since receiving the determination letter. The Plan administrator and the Plan’s tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the Code. Therefore, no provision for income taxes has been included in the Plan’s financial statements.
US 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 Internal Revenue Service. The Plan has analyzed the tax positions taken, and has concluded that as of December 31, 2018, 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 and does not expect this position to change within the next twelve months. The Plan is subject to routine audits by various federal, state, and local tax jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2013.
The Plan recognizes accrued interest and penalties related to unrecognized tax benefits in tax expense. There were no interest and penalties included in the Plan’s financial statements.
9. | RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 |
The following is a reconciliation of net assets available for benefits per the financial statements to Form 5500 at December 31, 2018 and 2017, respectively:
December 31, | ||||||||
2018 | 2017 | |||||||
Net assets available for benefits per the financial statements | $ | 1,907,541,153 | $ | 2,129,727,227 | ||||
Adjustment from contract value to fair value for fully benefit-responsive investment contracts | (5,040,658 | ) | (17,909 | ) | ||||
|
|
|
| |||||
Net assets available for benefits per the Form 5500 | $ | 1,902,500,496 | $ | 2,129,709,318 | ||||
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|
|
|
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AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
9. | RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 (continued) |
The following is a reconciliation of investment loss per the financial statements to Form 5500 for the year ended December 31, 2018:
Net investment loss per the financial statements | $ | (108,776,771 | ) | |
Add: Adjustment from fair value to contract value for fully benefit-responsive investment contracts | (5,022,749 | ) | ||
|
| |||
Investment loss per the Form 5500 | $ | (113,799,520 | ) | |
|
|
10. | RISKS AND UNCERTAINTIES |
The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statement of net assets available for benefits.
On September 5, 2014, Paul John Malagoli, a participant in the Plan and AXA Equitable Retirement Plan, filed a complaint in the United States District Court for the Southern District Court of New York,. Mr. Malagoli alleges that AXA Equitable breached its fiduciary duty by not including commissions, fees and additional compensation for determination of his benefits under the Plans. On October 20, 2015, Mr. Malagoli filed a Second Amended Complaint, naming the Officers Committee on Benefit Plans and the individuals of the fiduciary committees as defendants. On March 24, 2016, the court granted AXA’s motion to transfer venue to New Jersey based on the forum selection clause contained in the Plans. On March 18, 2017, the Court issued a notice of call for dismissal for lack of prosecution. Malagoli’s attorney submitted an affidavit that, due to recent medical issues, he has been unable to prosecute the case. The Court withdrew the notice of dismissal and scheduled a settlement conference for the end of August 2017. In May 2018, the parties appeared telephonically before the D.N.J. Magistrate Judge to address plaintiff’s motion to compel further responses to discovery requests. The Court did not rule on the motion and instead instructed the parties to submit letter-briefs addressing the appropriateness of plaintiff’s discovery requests, as well as whether the Company should be permitted to file a motion for summary judgment prior to completion of discovery. The cross-letter briefs were submitted June 1, 2018. In October 2018, letters testamentary were issued and a settlement agreement was entered into as of December 2018 with the estate representative. The settlement agreement did not have any impact on Plan activity.
16
Table of Contents
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017
11. | SUBSEQUENT EVENTS |
The Plan has evaluated subsequent events through the date the financial statements were available to be issued and has noted such events above. Effective January 1, 2019, the Plan was amended to include a matching contribution equal to 100% of the first 3% of participant contributions made on a before-tax or Roth basis.
On March 25, 2019, AXA completed a follow-on secondary offering of 46 million shares of common stock of Equitable Holdings and the sale to Equitable Holdings of 30 million shares of common stock of Equitable Holdings. Following the completion of this secondary offering and share buyback by Equitable Holdings, AXA owns 48.3% of the shares of common stock of Equitable Holdings. As a result, Equitable Holdings is no longer a majority owned subsidiary of AXA.
17
Table of Contents
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Asset-backed bonds | ||||||||||
*** | ALLY MASTER OWNER TR 2.70% 01/23 | 01/17/2023, 2.70%, $960,000 | ** | $ | 953,857 | |||||
*** | ALLY MASTER OWNER TR 2017-3 A2 2.04% 06/22 | 06/15/2022, 2.04%, $739,000 | ** | 729,092 | ||||||
*** | ALLY MASTER OWNER TR 2018-2 A 3.29% 05/23 | 05/15/2023, 3.29%, $1,220,000 | ** | 1,228,775 | ||||||
*** | AMERICAN EXPRESS CR ACC MST TR 2.04% 05/23 | 05/15/2023, 2.04%, $845,000 | ** | 832,736 | ||||||
*** | AMERICAN EXPRESS CR ACCT MS TR 2017-3 A 1.77% 11/22 | 11/15/2022, 1.77%, $1,050,000 | ** | 1,035,803 | ||||||
*** | AMXCA 2017-1 A 1.93% 09/22 | 09/15/2022, 1.93%, $1,437,000 | ** | 1,421,237 | ||||||
*** | AMXCA 2018-4 A 2.99% 12/23 | 12/15/2023, 2.99%, $971,000 | ** | 974,838 | ||||||
*** | BA CR CARD TR 2.70% 07/23 | 07/17/2023, 2.70%, $1,208,000 | ** | 1,205,112 | ||||||
*** | BA CR CARD TR 2017-A2 A2 1.84% 01/23 | 01/17/2023, 1.84%, $1,179,000 | ** | 1,158,858 | ||||||
*** | BA CR CARD TR 2018-A2 A2 3.00% 09/23 | 09/15/2023, 3.00%, $980,000 | ** | 984,076 | ||||||
*** | BACCT 2017 A1 A1 1.95% 08/22 | 08/15/2022, 1.95%, $1,297,000 | ** | 1,282,644 | ||||||
*** | BMWLT 2017-2 A3 2.07% 10/20 | 10/20/2020, 2.07%, $499,000 | ** | 495,608 | ||||||
*** | CANADIAN PACER AUTO RECEIVABLES TRUST 2017-1A A3 2.05% 03/21 | 03/19/2021, 2.05%, $597,000 | ** | 593,277 | ||||||
*** | CANADIAN PACER AUTO RECEIVABLES TRUST 2018-2A A3 3.27% 12/22 | 12/19/2022, 3.27%, $737,000 | ** | 743,399 | ||||||
*** | CAPITAL ONE MULTI-ASST EXEC TR 2017-A4 A4 1.99% 07/23 | 07/17/2023, 1.99%, $1,025,000 | ** | 1,009,880 | ||||||
*** | CAPITAL ONE MULTI-ASST EXEC TR 2018-A1 A1 3.01% 02/24 | 02/15/2024, 3.01%, $646,000 | ** | 650,277 | ||||||
*** | CARMAX AUTO OWNER TR 2018-4 3.36% 09/23 | 09/15/2023, 3.36%, $597,000 | ** | 601,981 | ||||||
*** | CARMAX AUTO OWNER TRUST 2016-4 1.40% 08/21 | 08/15/2021, 1.40%, $691,590 | ** | 683,989 | ||||||
*** | CARMAX AUTO OWNER TRUST 2017-4 2.11% 10/22 | 10/17/2022, 2.11%, $422,000 | ** | 418,072 | ||||||
*** | CARMX 2015-3 A3 1.63% 05/20 | 05/15/2020, 1.63%, $47,100 | ** | 47,076 | ||||||
*** | CARMX 2017-3 A3 1.97% 04/22 | 04/15/2022, 1.97%, $402,000 | ** | 397,963 | ||||||
*** | CARMX 2018-2 A3 2.98% 01/23 | 01/17/2023, 2.98%, $531,000 | ** | 534,798 | ||||||
*** | CCCIT 2017-A8 A8 1.86% 08/22 | 08/08/2022, 1.86%, $1,100,000 | ** | 1,090,259 | ||||||
*** | CCCIT 2018-A1 A1 2.49% 01/23 | 01/20/2023, 2.49%, $1,217,000 | ** | 1,220,739 | ||||||
*** | CHAIT 2016-A2 A 1.37% 06/21 | 06/15/2021, 1.37%, $1,294,000 | ** | 1,285,057 | ||||||
*** | CHAIT 2016-A5 A5 1.27% 07/21 | 07/15/2021, 1.27%, $1,330,000 | ** | 1,319,093 | ||||||
*** | CITIBANK CR CARD ISSUANCE TR 2016-A1 A1 1.75% 11/21 | 11/19/2021, 1.75%, $1,306,000 | ** | 1,294,808 | ||||||
*** | CITIBANK CR CARD ISSUANCE TR 2017-A3 A3 1.92% 04/22 | 04/07/2022, 1.92%, $1,168,000 | ** | 1,158,335 | ||||||
*** | CITIBANK CREDIT CRD MSTR TR 2017-A9 A9 1.80% 09/21 | 09/20/2021, 1.80%, $1,034,000 | ** | 1,030,883 | ||||||
*** | CNH EQUIP TR 2018-A 3.12% 07/23 | 07/17/2023, 3.12%, $888,000 | ** | 891,823 | ||||||
*** | COMET 2015-A2 A2 2.08% 03/23 | 03/15/2023, 2.08%, $290,000 | ** | 286,785 | ||||||
*** | COMET 2015-A8 A8 2.05% 08/23 | 08/15/2023, 2.05%, $714,000 | ** | 704,131 | ||||||
*** | COMET 2016-A3 A3 1.34% 04/22 | 04/15/2022, 1.34%, $575,000 | ** | 570,916 |
18
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Asset-backed bonds (continued) | ||||||||||
*** | COMET 2016-A4 A4 1.33% 06/22 | 06/15/2022, 1.33%, $1,053,000 | ** | $ | 1,042,981 | |||||
*** | COMET 2017-A1 A1 2.00% 01/23 | 01/17/2023, 2.00%, $1,051,000 | ** | 1,040,379 | ||||||
*** | CPART 2018-1A A3 3.00% 11/21 144A | 11/19/2021, 3.00%, $820,000 | ** | 820,854 | ||||||
*** | CSAIL 17-CX9 A2 3.05% 09/50 | 09/15/2050, 3.05%, $790,000 | ** | 786,358 | ||||||
*** | CSAIL 2015-C2 ASB 3.22% 06/57 | 06/15/2057, 3.22%, $273,000 | ** | 272,857 | ||||||
*** | DCENT 2015-A2 A 1.90% 10/22 | 10/17/2022, 1.90%, $1,327,000 | ** | 1,309,831 | ||||||
*** | DCENT 2016-A3 A3 1.85% 10/23 | 10/16/2023, 1.85%, $732,000 | ** | 717,789 | ||||||
*** | DCENT 2016-A4 A4 1.39% 3/22 | 03/15/2022, 1.39%, $1,060,000 | ** | 1,048,960 | ||||||
*** | DELL EQUIPMENT FINANCE TRUST 2018-1 A3 3.18% 06/23 | 06/22/2023, 3.18%, $304,000 | ** | 304,340 | ||||||
*** | DELL EQUIPMENT FINANCE TRUST 2018-2 A3 3.37% 10/23 | 10/22/2023, 3.37%, $410,000 | ** | 412,146 | ||||||
*** | DISCOVER CARD EXECUTION NOTE 2017-A6 A6 1.88% 02/23 | 02/15/2023, 1.88%, $787,000 | ** | 774,922 | ||||||
*** | DISCOVER CARD EXECUTION NT TR 2018-A5 A5 3.32% 03/24 | 03/15/2024, 3.32%, $1,180,000 | ** | 1,196,111 | ||||||
*** | FITAT 2017-1 A3 1.80% 02/22 | 02/15/2022, 1.80%, $637,000 | ** | 630,570 | ||||||
*** | FORD CR FLOORPLN MAST OWN TR A 2017-2 A1 2.16% 09/22 | 09/15/2022, 2.16%, $1,028,000 | ** | 1,013,752 | ||||||
*** | FORD CREDIT AUTO OWNER TRUST 16-1 A 2.31% 08/27 | 08/15/2027, 2.31%, $1,395,000 | ** | 1,377,418 | ||||||
*** | FORD CREDIT AUTO OWNER TRUST 2016-B A3 1.33% 10/20 | 10/15/2020, 1.33%, $259,807 | ** | 258,769 | ||||||
*** | FORD CREDIT FLOORPLAN MASTER 2018-1 A1 2.95% 05/23 | 05/15/2023, 2.95%, $1,000,000 | ** | 998,623 | ||||||
*** | FORDF 2016-1 A1 1.76% 02/21 | 02/15/2021, 1.76%, $981,000 | ** | 979,903 | ||||||
*** | FORDF 2016-3 A1 1.55% 07/21 | 07/15/2021, 1.55%, $998,000 | ** | 990,958 | ||||||
*** | FORDO 2016-A A3 1.39% 07/20 | 07/15/2020, 1.39%, $190,662 | ** | 190,261 | ||||||
*** | FORDO 2017-A A3 1.67% 06/21 | 06/15/2021, 1.67%, $845,358 | ** | 839,542 | ||||||
*** | FORDO 2018-A A3 3.03% 11/22 | 11/15/2022, 3.03%, $964,000 | ** | 965,747 | ||||||
*** | FORDR 2014-2 A 2.31% 04/26 144A | 04/15/2026, 2.31%, $571,000 | ** | 567,580 | ||||||
*** | FORDR 2015-2 A 2.44% 01/27 | 01/15/2027, 2.44%, $544,000 | ** | 540,019 | ||||||
*** | GFORT 2015 -1 A1 1.96% 05/21 144A | 05/17/2021, 1.96%, $780,000 | ** | 777,101 | ||||||
*** | GFORT 2017-1 A1 2.22% 01/22 144A | 01/18/2022, 2.22%, $826,000 | ** | 819,553 | ||||||
*** | GM FINANCIAL AUTOMOBILE LEASING TRUST 2018-2 A3 3.06% 06/21 | 06/21/2021, 3.06%, $531,000 | ** | 530,699 | ||||||
*** | GMCAR 2018-1A A3 2.32% 07/22 | 07/18/2022, 2.32%, $448,000 | ** | 443,819 | ||||||
*** | GMF FLOORPLAN OWNER REVOLVING TR 3.13% 03/23 | 03/15/2023, 3.13%, $934,000 | ** | 935,386 | ||||||
*** | HART 2015-C A3 1.46% 02/20 | 02/18/2020, 1.46%, $19,331 | ** | 19,331 | ||||||
*** | HART 2016-A A3 1.56% 09/20 | 09/15/2020, 1.56%, $138,674 | ** | 138,249 | ||||||
*** | HART 2016-B A3 1.29% 04/21 | 04/15/2021, 1.29%, $821,542 | ** | 814,047 | ||||||
*** | HFMOT 2016-1A A2 1.81% 03/21 | 03/15/2021, 1.81%, $557,000 | ** | 555,180 | ||||||
*** | HONDA AUTO RECEIVABLES 2017-1 OWNER TR 1.72% 07/21 | 07/21/2021, 1.72%, $762,416 | ** | 756,225 |
19
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Asset-backed bonds (continued) | ||||||||||
*** | HUNTINGTON AUTO TR 2016-1 1.59% 11/20 | 11/16/2020, 1.59%, $215,750 | ** | $ | 214,984 | |||||
*** | HYUNDAI AUTO LEASE SECURITIZATION TR 2018-A A3 2.79% 07/22 | 07/15/2022, 2.79%, $620,000 | ** | 620,273 | ||||||
*** | KUBOTA CR OWNER TR 2018-1A A3 3.10% 08/22 144A | 08/15/2022, 3.10%, $1,229,000 | ** | 1,236,714 | ||||||
*** | NAROT 2016-B A3 1.32% 01/21 | 01/15/2021, 1.32%, $314,289 | ** | 311,961 | ||||||
*** | NAROT 2017-A A3 1.74% 08/21 | 08/16/2021, 1.74%, $1,051,000 | ** | 1,042,035 | ||||||
*** | NISSAN MASTER OWNER TR RECEIVA 1.54% 06/21 | 06/15/2021, 1.54%, $563,000 | ** | 559,619 | ||||||
*** | SANTANDER RETAIL AUTO LEASE TR 2017-A A3 2.22% 01/21 | 01/20/2021, 2.22%, $999,000 | ** | 991,450 | ||||||
*** | SANTANDER RETAIL AUTO LEASE TRUST 2018-A 2.93% 05/21 | 05/20/2021, 2.93%, $824,000 | ** | 823,700 | ||||||
*** | SECURITIZED TERM AUTO RECEIVABLES TRUST 2017-2 2A 2.04% 04/21 | 04/26/2021, 2.04%, $616,000 | ** | 609,624 | ||||||
*** | SECURITIZED TERM AUTO RECEIVABLES TRUST 2018-2A A3 3.33% 08/22 | 08/25/2022, 3.33%, $1,171,000 | ** | 1,180,765 | ||||||
*** | SSTRT 17-1A A3 1.89% 08/20 144A | 08/25/2020, 1.89%, $518,734 | ** | 516,269 | ||||||
*** | SSTRT 2016-1A A3 1.52% 03/20 144A | 03/25/2020, 1.52%, $145,373 | ** | 144,938 | ||||||
*** | SYNCHRONY CR CARD MASTER NT TR 2.37% 03/23 | 03/15/2023, 2.37%, $1,035,000 | ** | 1,027,913 | ||||||
*** | TOYOTA AUTO RECEIVABLES 2018-B A3 OWNER TRUST 2.96% 09/22 | 09/15/2022, 2.96%, $946,000 | ** | 947,473 | ||||||
*** | USAA AUTO OWNER TRUST 17-1 A3 1.70% 05/21 | 05/17/2021, 1.70%, $353,000 | ** | 350,655 | ||||||
*** | VERIZON OWNER TR 2016-2 1.68% 05/21 144A | 05/20/2021, 1.68%, $957,901 | ** | 952,925 | ||||||
*** | VERIZON OWNER TR 2017-3A A1A 2.06% 04/22 144A | 04/20/2022, 2.06%, $1,040,000 | ** | 1,028,149 | ||||||
*** | VERIZON OWNER TRUST 16-1A A 1.42% 01/21 | 01/20/2021, 1.42%, $461,835 | ** | 459,774 | ||||||
*** | VERIZON OWNER TRUST 2017-2A A 1.92% 12/21 144 | 12/20/2021, 1.92%, $599,000 | ** | 593,220 | ||||||
*** | VERIZON OWNER TRUST 2018-A A1A 3.23% 04/23 | 04/20/2023, 3.23%, $1,164,000 | ** | 1,172,287 | ||||||
*** | VOLKSWAGEN AUTO LN ENHANCED TR 2018-1 A3 3.32% 11/22 | 11/21/2022, 3.02%, $580,000 | ** | 580,643 | ||||||
*** | WOART 2016-A A3 1.77% 09/21 | 09/15/2021, 1.77%, $426,211 | ** | 423,494 | ||||||
|
| |||||||||
Total Bonds Asset Backed | 69,495,302 | |||||||||
|
| |||||||||
Commercial mortgage-backed bonds | ||||||||||
*** | BMARK 2018-B2 A2 3.66% 02/51 | 02/15/2051, 3.66%, $1,030,000 | ** | 1,047,151 | ||||||
*** | BMARK 2018-B7 A2 4.38% 05/53 | 05/15/2053, 4.38%, $575,000 | ** | 603,718 | ||||||
*** | BMARK 2018-B8 A2 4.15% 01/52 | 01/15/2052, 4.15%, $663,000 | ** | 689,806 | ||||||
*** | CGCMT 13-GC11 A4 3.09% 04/46 | 04/10/2046, 3.09%, $136,000 | ** | 135,371 | ||||||
*** | CGCMT 13-GC15 A4 4.37% 09/46 | 09/10/2046, 4.37%, $350,000 | ** | 366,764 |
20
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Commercial mortgage-backed bonds (continued) | ||||||||||
*** | CGCMT 13-GC17 A4 4.13% 11/46 | 11/10/2046, 4.13%, $452,000 | ** | $ | 469,380 | |||||
*** | CGCMT 16-GC36 AAB 3.37% 02/49 | 02/10/2049, 3.37%, $511,000 | ** | 514,013 | ||||||
*** | CGCMT 2012-GC8 A4 3.02% 09/45 | 09/10/2045, 3.02%, $519,000 | ** | 518,045 | ||||||
*** | CGCMT 2014-GC23 A3 3.36% 07/47 | 07/10/2047, 3.36%, $919,000 | ** | 921,706 | ||||||
*** | CGCMT 2015-GC29 A2 2.67% 04/48 | 04/10/2048, 2.67%, $866,517 | ** | 864,040 | ||||||
*** | CGCMT 2017-P7 A2 3.21% 04/50 | 04/14/2050, 3.21%, $475,000 | ** | 477,905 | ||||||
*** | COMM 15-CR23 ASB 3.26% 05/48 | 05/10/2048, 3.26%, $401,000 | ** | 403,572 | ||||||
*** | COMM 15-CR26 ASB 3.37% 10/48 | 10/10/2048, 3.37%, $273,000 | ** | 275,954 | ||||||
*** | COMM 2010-C1 A3 4.21% 07/46 | 07/10/2046, 4.21%, $1,656,005 | ** | 1,682,223 | ||||||
*** | COMM 2012-CR2 A3 2.84% 08/45 | 08/15/2045, 2.84%, $1,237,000 | ** | 1,224,845 | ||||||
*** | COMM 2012-CR3 A3 2.82% 10/45 | 10/15/2045, 2.82%, $522,452 | ** | 515,106 | ||||||
*** | COMM 2012-CR3 ASB 2.37% 11/45 | 10/15/2045, 2.37%, $534,568 | ** | 529,392 | ||||||
*** | COMM 2012-LC4 A4 3.29% 12/44 | 12/10/2044, 3.29%, $1,118,017 | ** | 1,121,020 | ||||||
*** | COMM 2013-CR6 A4 3.10% 03/46 | 03/10/2046, 3.10%, $604,000 | ** | 602,171 | ||||||
*** | COMM 2013-CR7 A4 3.21% 03/46 | 03/10/2046, 3.21%, $794,252 | ** | 795,516 | ||||||
*** | COMM 2013-CR8 A5 3.61% 06/46 | 06/10/2046, 3.61%, $364,000 | ** | 369,777 | ||||||
*** | COMM 2014-CR18 A2 2.92% 07/47 | 07/15/2047, 2.92%, $505,559 | ** | 505,633 | ||||||
*** | COMM 2015-CR22 A2 2.86% 03/48 | 03/10/2048, 2.86%, $362,000 | ** | 361,805 | ||||||
*** | COMM 2015-CR22 ASB 3.14% 03/48 | 03/10/2048, 3.14%, $381,000 | ** | 381,868 | ||||||
*** | DBUBS 2011-LC2A A4 4.54% 07/44 | 07/10/2044, 4.54%, $906,931 | ** | 935,866 | ||||||
*** | FHR 2015-4472 WL 3.00% 05/45 | 05/15/2045, 3.00%, $625,169 | ** | 625,707 | ||||||
*** | FHR 4656 PA 3.50% 10/45 | 10/15/2045, 3.50%, $1,179,171 | ** | 1,202,047 | ||||||
*** | FHR 4683 EA 2.50% 05/47 | 05/15/2047, 2.50%, $1,358,456 | ** | 1,330,158 | ||||||
*** | FNR 2000-32 FM IML+450 2.93% 10/30 | 10/18/2030, 2.93%, $1,298 | ** | 1,305 | ||||||
*** | FNR 2000-34 F 1ML+45 2.94% 10/30 | 10/25/2030, 2.94%, $3,973 | ** | 3,993 | ||||||
*** | FNR 2011-26 PA 4.50 % 04/41 | 04/25/2041, 4.50%, $433,904 | ** | 455,100 | ||||||
*** | FNR 2013-16 GP 3.00% 03/33 | 03/25/2033, 3.00%, $1,238,584 | ** | 1,240,599 | ||||||
*** | FNR 2014-83 P 3.00% 06/43 | 06/25/2043, 3.00%, $782,216 | ** | 781,393 | ||||||
*** | FNR 2015-28 JE 3.00% 05/45 | 05/25/2045, 3.00%, $1,082,870 | ** | 1,078,793 | ||||||
*** | FNR 2015-28 P 2.50% 05/45 | 05/25/2045, 2.50%, $1,577,347 | ** | 1,544,874 | ||||||
*** | FNR 2015-32 PA 3.00% 04/44 | 04/25/2044, 3.00%, $612,192 | ** | 611,612 | ||||||
*** | FNR 2015-42 LE 3.00% 06/45 | 06/25/2045, 3.00%, $921,496 | ** | 916,718 | ||||||
*** | FNR 2015-49 LE 3.00% 07/45 | 07/25/2045, 3.00%, $677,561 | ** | 677,630 | ||||||
*** | FNR 2015-54 GA 2.50% 07/45 | 07/25/2045, 2.50%, $817,172 | ** | 804,121 | ||||||
*** | FNR 2016-100 P 3.50% 11/44 | 11/25/2044, 3.50%, $1,459,991 | ** | 1,481,224 | ||||||
*** | FNR 2016-105 PA 3.50% 04/45 | 04/25/2045, 3.50%, $956,333 | ** | 973,502 | ||||||
*** | FNR 2016-19 AH 3.00% 04/46 | 04/25/2046, 3.00%, $696,960 | ** | 697,207 | ||||||
*** | FNR 2016-26 CG 3.00% 05/46 | 05/25/2046, 3.00%, $1,796,373 | ** | 1,792,260 | ||||||
*** | FNR 2016-27 HK 3.00% 01/41 | 01/25/2041, 3.00%, $907,977 | ** | 903,815 | ||||||
*** | FNR 2016-27 KG 3.00% 01/40 | 01/25/2040, 3.00%, $446,949 | ** | 446,466 | ||||||
*** | FNR 2016-34 GH 3.00% 06/46 | 06/25/2046, 3.00%, $1,764,640 | ** | 1,758,081 |
21
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Commercial mortgage-backed bonds (continued) | ||||||||||
*** | FNR 2016-37 BK 3.00% 06/46 | 06/25/2046, 3.00%, $1,867,126 | ** | $ | 1,862,967 | |||||
*** | FNR 2017-11 HA 3.50% 12/45 | 12/25/2045, 3.50%, $1,519,936 | ** | 1,546,838 | ||||||
*** | FNR 2017-20 AP 3.50% 03/45 | 03/25/2045, 3.50%, $1,728,784 | ** | 1,759,229 | ||||||
*** | FNR 2017-74 PA 3.50% 11/45 | 11/25/2045, 3.50%, $1,557,881 | ** | 1,586,204 | ||||||
*** | FNR 2017-97 P 3.00% 01/47 | 01/25/2047, 3.00%, $1,036,881 | ** | 1,029,537 | ||||||
*** | FSPC T-59 1A3 7.50% 10/43 | 10/25/2043, 7.50%, $27,277 | ** | 32,264 | ||||||
*** | GNR 2000-35 F 1ML+55 3.03% 12/25 | 12/16/2025, 3.03%, $4,783 | ** | 4,823 | ||||||
*** | GSMC 14-GC26 AAB 3.37% 11/47 | 11/10/2047, 3.37%, $632,000 | ** | 637,910 | ||||||
*** | GSMS 14-GC18 AAB 3.65% 01/47 | 01/10/2047, 3.65%, $141,000 | ** | 142,917 | ||||||
*** | GSMS 14-GC20 AAB 3.66% 04/47 | 04/10/2047, 3.66%, $163,000 | ** | 165,765 | ||||||
*** | GSMS 15-GC32 AAB 3.51% 07/48 | 07/10/2048, 3.51%, $351,000 | ** | 356,085 | ||||||
*** | GSMS 2012-GC6 A3 3.48% 01/45 | 01/10/2045, 3.48%, $534,980 | ** | 542,256 | ||||||
*** | GSMS 2012-GCJ9 A3 2.77% 11/45 | 11/10/2045, 2.77%, $1,300,224 | ** | 1,285,404 | ||||||
*** | GSMS 2013-GC10 A4 2.68% 02/46 | 02/10/2046, 2.68%, $194,002 | ** | 190,408 | ||||||
*** | GSMS 2013-GC10 A5 2.94% 02/46 | 02/10/2046, 2.94%, $1,053,000 | ** | 1,042,372 | ||||||
*** | GSMS 2015-GC28 AAB 3.21% 02/48 | 02/10/2048, 3.21%, $435,000 | ** | 436,744 | ||||||
*** | JPMBB 14-C22 ASB 3.50% 09/47 | 09/15/2047, 3.50%, $439,000 | ** | 442,511 | ||||||
*** | JPMCC 13-C10 A5 3.14% 12/47 | 12/15/2047, 3.14%, $909,000 | ** | 904,550 | ||||||
*** | JPMCC 16-JP4 A2 2.98% 12/49 | 12/15/2049, 2.98%, $613,000 | ** | 608,815 | ||||||
*** | JPMCC 2012-C6 A3 3.51% 05/45 | 05/15/2045, 3.51%, $358,257 | ** | 360,996 | ||||||
*** | JPMCC 2012-C8 A3 2.83% 10/45 | 10/15/2045, 2.83%, $509,822 | ** | 502,116 | ||||||
*** | JPMCC 2015-JP1 A2 3.14% 01/49 | 01/15/2049, 3.14%, $577,000 | ** | 575,836 | ||||||
*** | MSBAM 15-C22 ASB 3.04% 4/48 | 04/15/2048, 3.04%, $241,000 | ** | 240,914 | ||||||
*** | MSBAM 2012-C6 A4 2.86% 11/45 | 11/15/2045, 2.86%, $1,025,282 | ** | 1,013,081 | ||||||
*** | MSBAM 2013-C11 A4 CSTR 4.17% 08/46 | 08/15/2046, 4.17%, $277,000 | ** | 289,531 | ||||||
*** | MSBAM 2013-C7 A4 2.92% 02/46 | 02/15/2046, 2.92%, $755,000 | ** | 746,186 | ||||||
*** | MSBAM 2013-C8 A4 3.13% 12/48 | 12/15/2048, 3.13%, $859,000 | ** | 855,875 | ||||||
*** | MSBAM 2014-C16 ASB 3.48% 06/47 | 06/15/2047, 3.48%, $577,000 | ** | 581,915 | ||||||
*** | MSBAM 2014-C17 ASB 3.48% 08/47 | 08/15/2047, 3.48%, $724,000 | ** | 732,109 | ||||||
*** | MSBAM 2015-C21 ASB 3.15% 03/48 | 03/15/2048, 3.15%, $142,000 | ** | 141,539 | ||||||
*** | MSC 2011-C2 A4 4.66% 06/44 | 06/15/2044, 4.66%, $806,000 | ** | 835,323 | ||||||
*** | UBSBB 2012-C2 A4 3.53% 05/63 | 05/10/2063, 3.53%, $541,000 | ** | 548,531 | ||||||
*** | WFCM 2012-LC5 A3 2.92% 10/45 | 10/15/2045, 2.92%, $1,148,167 | ** | 1,138,721 | ||||||
*** | WFCM 2013-LC12 A1 1.68% 07/46 | 07/15/2046, 1.68%, $60,726 | ** | 60,733 | ||||||
*** | WFCM 2015-C27 ASB 3.28% 02/48 | 02/15/2048, 3.28%, $593,000 | ** | 597,656 | ||||||
*** | WFCM 2016-C34 A2 2.60% 06/49 | 06/15/2049, 2.60%, $581,000 | ** | 572,568 | ||||||
*** | WFCM 2016-C37 A2 3.10% 12/49 | 12/15/2049, 3.10%, $431,000 | ** | 431,250 | ||||||
*** | WFCM 2016-LC25 1.80% 12/59 | 12/15/2059, 1.80%, $134,848 | ** | 133,624 | ||||||
*** | WFRBS 13-C12 ASB 2.84% 03/48 | 03/15/2048, 2.84%, $94,779 | ** | 94,230 | ||||||
*** | WFRBS 13-C16 ASB 3.96% 09/46 | 09/15/2046, 3.96%, $221,358 | ** | 225,816 | ||||||
*** | WFRBS 14-C20 ASB 3.64% 05/47 | 05/15/2047, 3.64%, $280,000 | ** | 284,796 |
22
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Commercial mortgage-backed bonds (continued) | ||||||||||
*** | WFRBS 14-C23 ASB 3.64% 10/57 | 10/15/2057, 3.64%, $333,000 | ** | $ | 339,900 | |||||
*** | WFRBS 2011-C3 A4 4.38% 03/44 | 03/15/2044, 4.38%, $702,000 | ** | 718,245 | ||||||
*** | WFRBS 2012-C7 A2 3.43% 06/45 | 06/15/2045, 3.43%, $448,000 | ** | 451,591 | ||||||
*** | WFRBS 2012-C9 A3 2.87% 11/45 | 11/15/2045, 2.87%, $706,999 | ** | 703,036 | ||||||
*** | WFRBS 2013-C11 A5 3.07% 03/45 | 03/15/2045, 3.07%, $1,119,000 | ** | 1,113,504 | ||||||
*** | WFRBS 2013-C12 A4 3.20% 03/48 | 03/15/2048, 3.20%, $266,000 | ** | 265,646 | ||||||
*** | WFRBS 2013-C14 A5 3.34% 06/46 | 06/15/2046, 3.34%, $1,024,000 | ** | 1,028,648 | ||||||
*** | WFRBS 2013-C16 A5 4.42% 09/46 | 09/15/2046, 4.42%, $559,000 | ** | 587,485 | ||||||
*** | WFRBS 2014-C22 ASB 3.46% 09/57 | 09/15/2057, 3.46%, $1,042,000 | ** | 1,056,804 | ||||||
|
| |||||||||
Total commercial mortgage-backed bonds | 67,445,056 | |||||||||
|
| |||||||||
Corporate bonds | ||||||||||
*** | ABBOTT LABORATORIES | 11/30/2021, 2.90%, $330,000 | ** | 327,543 | ||||||
*** | ABBVIE INC | 05/14/2020, 2.50%, $660,000 | ** | 655,795 | ||||||
*** | ACE INA HOLDINGS INC | 11/03/2020, 2.30%, $350,000 | ** | 346,293 | ||||||
*** | ACTAVIS FUNDING | 03/12/2020, 3.00%, $957,000 | ** | 961,881 | ||||||
*** | AERCAP IRELAND | 07/03/2023, 4.13%, $371,000 | ** | 369,174 | ||||||
*** | AIG INTL GRP | 06/01/2022, 4.88%, $406,000 | ** | 422,864 | ||||||
*** | AIR LEASE CORP | 03/01/2021, 2.50%, $561,000 | ** | 551,554 | ||||||
*** | AIR LEASE CORP | 07/01/2022, 2.63%, $705,000 | ** | 677,492 | ||||||
*** | AMERICAN EXPRESS | 05/05/2021, 2.25%, $1,000,000 | ** | 982,062 | ||||||
*** | AMERICAN EXPRESS | 02/15/2024, 3.06%, $969,000 | ** | 973,791 | ||||||
*** | AMERICAN HONDA | 09/09/2021, 1.70%, $763,000 | ** | 737,521 | ||||||
*** | AMERICAN INTERNATIONAL GRP INC | 03/01/2021, 3.30%, $267,000 | ** | 269,022 | ||||||
*** | AMGEN INC | 05/01/2020, 2.13%, $571,000 | ** | 565,334 | ||||||
*** | AMPHENOL CORPORATION | 04/01/2024, 3.20%, $178,000 | ** | 174,008 | ||||||
*** | ANHUESER-BUSCH | 02/01/2021, 2.65%, $489,000 | ** | 486,040 | ||||||
*** | ANHUESER-BUSCH | 02/01/2023, 3.30%, $1,000,000 | ** | 987,413 | ||||||
*** | ANTHEM INC | 12/01/2022, 2.95%, $676,000 | ** | 660,886 | ||||||
*** | AT&T INC | 06/30/2020, 2.45%, $970,000 | ** | 957,292 | ||||||
*** | AT&T INC | 02/17/2021, 2.80%, $500,000 | ** | 498,719 | ||||||
*** | AUTOZONE | 07/15/2023, 3.13%, $675,000 | ** | 665,282 | ||||||
*** | AVALONBAY COMM | 10/01/2020, 3.63%, $266,000 | ** | 269,895 | ||||||
*** | BAE SYSTEMS | 12/15/2020, 2.85%, $1,000,000 | ** | 987,895 | ||||||
*** | BANK AMER FDG CORP | 04/21/2020, 2.25%, $750,000 | ** | 745,163 | ||||||
*** | BANK NOVA SCOTIA | 07/21/2021, 2.80%, $830,000 | ** | 833,118 | ||||||
*** | BANK OF AMERICA CORPORATION | 04/19/2021, 2.63%, $1,000,000 | ** | 991,613 | ||||||
*** | BANK OF AMERICA CORPORATION | 12/20/2023, 3.00%, $1,547,000 | ** | 1,503,335 | ||||||
*** | BANK OF AMERICA CORPORATION | 07/23/2024, 3.86%, $1,500,000 | ** | 1,521,772 | ||||||
*** | BANK OF THE WEST AUTO TRUST | 12/15/2022, 3.43%, $486,000 | ** | 489,790 |
23
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Corporate bonds (continued) | ||||||||||
*** | BANK TOKYO-MSB | 03/05/2020, 2.30%, $530,000 | ** | $ | 528,838 | |||||
*** | BARCLAYS BANK | 01/11/2021, 2.65%, $1,000,000 | ** | 991,610 | ||||||
*** | BARCLAYS BANK PLC | 05/16/2024, 4.34%, $750,000 | ** | 733,209 | ||||||
*** | BARCLAYS PLC | 06/08/2020, 2.88%, $520,000 | ** | 511,321 | ||||||
*** | BARCLAYS PLC | 01/12/2021, 3.25%, $579,000 | ** | 575,847 | ||||||
*** | BAT INTL FIN | 06/15/2020, 2.75%, $1,040,000 | ** | 1,022,983 | ||||||
*** | BAT INTL FIN | 06/15/2022, 3.50%, $780,000 | ** | 764,318 | ||||||
*** | BERKSHIRE HATHAWAY ENERGY COMPANY | 01/15/2023, 2.80%, $1,068,000 | ** | 1,057,958 | ||||||
*** | BERKSHIRE HATHAWAY INC DEL | 03/15/2021, 2.20%, $387,000 | ** | 384,418 | ||||||
*** | BMW FLOORPLAN MASTER OWNER | 05/15/2023, 3.15%, $896,000 | ** | 899,015 | ||||||
*** | BMW US | 04/06/2022, 2.70%, $1,100,000 | ** | 1,075,349 | ||||||
*** | BMW VEH LEASE | 07/20/2021, 3.26%, $423,000 | ** | 425,422 | ||||||
*** | BNK OF NOVA SCOTIA | 03/07/2022, 2.70%, $800,000 | ** | 789,348 | ||||||
*** | BP CAPITAL MARKETS PLC | 02/13/2020, 2.32%, $892,000 | ** | 892,188 | ||||||
*** | BP CAPITAL MARKETS PLC | 01/15/2020, 2.52%, $550,000 | ** | 552,606 | ||||||
*** | CAN NATURAL RES | 11/15/2021, 3.45%, $648,000 | ** | 646,162 | ||||||
*** | CANADIAN IMPERIAL BK OF COMM | 06/16/2022, 2.55%, $750,000 | ** | 731,072 | ||||||
*** | CAPITAL ONE FINANCIAL CORP | 01/30/2023, 3.20%, $1,500,000 | ** | 1,479,732 | ||||||
*** | CATERPILLAR FINL | 01/10/2020, 2.10%, $400,000 | ** | 400,041 | ||||||
*** | CHEVRON PHIL | 05/01/2020, 2.45%, $482,000 | ** | 479,500 | ||||||
*** | CHEVRON PHIL | 05/01/2023, 3.30%, $573,000 | ** | 569,911 | ||||||
*** | CITIGROUP INC | 08/02/2021, 2.35%, $1,000,000 | ** | 981,148 | ||||||
*** | CITIGROUP INC | 01/10/2020, 2.45%, $500,000 | ** | 501,750 | ||||||
*** | CITIGROUP INC | 04/25/2022, 2.75%, $750,000 | ** | 730,946 | ||||||
*** | CITIGROUP INC | 01/24/2023, 3.14%, $404,000 | ** | 402,348 | ||||||
*** | CITIGROUP INC | 06/10/2025, 4.40%, $785,000 | ** | 770,583 | ||||||
*** | CITIZENS BANK NA | 05/13/2021, 2.55%, $1,000,000 | ** | 981,442 | ||||||
*** | CITIZENS BANK NA | 05/26/2022, 2.65%, $250,000 | ** | 243,516 | ||||||
*** | CITIZENS FINCL | 07/28/2021, 2.38%, $94,000 | ** | 92,511 | ||||||
*** | COMCAST CORP | 10/15/2025, 3.95%, $541,000 | ** | 552,757 | ||||||
*** | COMCAST CORP | 01/15/2022, 1.63%, $1,877,000 | ** | 1,810,336 | ||||||
*** | COMCAST CORP | 04/15/2024, 3.70%, $1,000,000 | ** | 1,014,873 | ||||||
*** | COMMONWEALTH BK ASTL NY | 03/12/2020, 2.30%, $1,050,000 | ** | 1,046,205 | ||||||
*** | COMPASS BANK | 06/29/2022, 2.88%, $557,000 | ** | 533,793 | ||||||
*** | COMPASS BK BIRM | 06/11/2021, 3.50%, $725,000 | ** | 724,361 | ||||||
*** | CONSOLIDATED EDISON | 05/15/2021, 2.00%, $384,000 | ** | 373,503 | ||||||
*** | CREDIT SUISSE GROUP FUNDING GUERNSEY LTD | 04/16/2021, 3.45%, $1,000,000 | ** | 1,003,366 | ||||||
*** | CREDIT SUISSE MTN | 10/29/2021, 3.00%, $550,000 | ** | 545,843 | ||||||
*** | CVS HEALTH CORP | 07/20/2020, 2.80%, $466,000 | ** | 467,555 | ||||||
*** | CVS HEALTH CORP | 03/09/2021, 3.35%, $1,243,000 | ** | 1,251,802 | ||||||
*** | CVS HEALTH CORP | 03/09/2023, 3.70%, $1,242,000 | ** | 1,242,930 |
24
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Corporate bonds (continued) | ||||||||||
*** | DAIMLER FIN | 03/02/2020, 2.25%, $533,000 | ** | $ | 529,758 | |||||
*** | DAIMLER FIN | 02/12/2021, 2.30%, $1,000,000 | ** | 984,494 | ||||||
*** | DAIMLER FIN | 01/06/2022, 2.85%, $619,000 | ** | 613,169 | ||||||
*** | DAIMLER FIN | 05/18/2020, 2.45%, $1,050,000 | ** | 1,040,439 | ||||||
*** | DANAHER CORP | 09/15/2020, 2.40%, $184,000 | ** | 183,581 | ||||||
*** | DIAMOND FN | 06/15/2023, 5.45%, $1,224,000 | ** | 1,248,486 | ||||||
*** | DIGITAL REALTY | 02/01/2023, 2.75%, $383,000 | ** | 370,285 | ||||||
*** | DISCOVER BANK | 06/04/2020, 3.10%, $559,000 | ** | 556,388 | ||||||
*** | DISCOVER BANK | 02/06/2023, 3.35%, $280,000 | ** | 276,303 | ||||||
*** | DISNEY (WALT)MTN | 12/01/2022, 2.35%, $379,000 | ** | 368,810 | ||||||
*** | DOMINION RESOURCE INC | 08/15/2021, 2.00%, $303,000 | ** | 293,419 | ||||||
*** | DUKE ENERGY | 09/01/2021, 1.80%, $297,000 | ** | 286,045 | ||||||
*** | DUKE ENERGY CORP | 03/15/2023, 3.05%, $805,000 | ** | 805,140 | ||||||
*** | ENTERPRISE PRODS OPER LLC | 04/15/2021, 2.85%, $412,000 | ** | 410,353 | ||||||
*** | EVERSOURCE ENERGY | 03/15/2021, 2.50%, $626,000 | ** | 619,835 | ||||||
*** | EXELON CORP | 06/15/2020, 2.85%, $558,000 | ** | 554,200 | ||||||
*** | EXELON CORP | 06/01/2022, 3.51%, $462,000 | ** | 452,789 | ||||||
*** | EXPRESS SCRIPTS | 11/15/2021, 4.75%, $398,000 | ** | 411,791 | ||||||
*** | EXPRESS SCRIPTS HLD | 11/30/2020, 2.60%, $224,000 | ** | 220,954 | ||||||
*** | EXXON MOBIL CORP | 03/01/2021, 2.22%, $1,020,000 | ** | 1,012,834 | ||||||
*** | EXXON MOBIL CORP | 03/01/2023, 2.73%, $799,000 | ** | 792,937 | ||||||
*** | FIFTH THIRD BAN | 07/27/2020, 2.88%, $500,000 | ** | 503,053 | ||||||
*** | FORTIVE CORP | 06/15/2021, 2.35%, $374,000 | ** | 365,051 | ||||||
*** | FORD MTR CR CO 2.68% 01/20 | 01/09/2020, 2.68%, $821,000 | ** | 817,829 | ||||||
*** | FORD MTR CR CO 4.14% 02/23 | 02/15/2023, 4.14%, $1,000,000 | ** | 966,097 | ||||||
*** | FORD MTR CR LLC 3.34% 03/22 | 03/28/2022, 3.34%, $448,000 | ** | 426,718 | ||||||
*** | GENERAL ELECTRIC CO | 03/11/2024, 3.38%, $986,000 | ** | 931,139 | ||||||
*** | GENERAL MILLS INC | 04/16/2021, 3.20%, $184,000 | ** | 184,258 | ||||||
*** | GENERAL MTR FIN | 06/19/2023, 4.15%, $1,066,000 | ** | 1,040,087 | ||||||
*** | GENERAL MTRS FIN | 04/13/2020, 2.65%, $740,000 | ** | 732,711 | ||||||
*** | GENERAL MTRS FIN | 04/09/2021, 3.55%, $613,000 | ** | 609,448 | ||||||
*** | GOLDMAN SAC BK | 06/05/2020, 3.20%, $467,000 | ** | 467,164 | ||||||
*** | GOLDMAN SACHS GROUP INC | 09/15/2020, 2.75%, $901,000 | ** | 898,821 | ||||||
*** | GOLDMAN SACHS GROUP INC | 10/31/2022, 2.88%, $536,000 | ** | 523,157 | ||||||
*** | GOLDMAN SACHS GROUP INC | 02/23/2023, 3.20%, $1,000,000 | ** | 981,286 | ||||||
*** | GSINC | 07/27/2021, 5.25%, $387,000 | ** | 410,417 | ||||||
*** | HALFMOON PARENT INC | 09/17/2021, 3.40%, $848,000 | ** | 854,364 | ||||||
*** | HALFMOON PARENT INC | 07/15/2023, 3.75%, $433,000 | ** | 436,222 | ||||||
*** | HSBC HOLDINGS PLC | 03/13/2023, 3.26%, $1,040,000 | ** | 1,027,935 | ||||||
*** | HSBC HOLDINGS PLC | 05/18/2024, 3.95%, $750,000 | ** | 749,444 | ||||||
*** | HUNTINGTON BANCSHARES INC | 01/14/2022, 2.30%, $800,000 | ** | 780,910 |
25
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Corporate bonds (continued) | ||||||||||
*** | HUNTINGTON NATL BK | 08/07/2022, 2.50%, $750,000 | ** | $ | 732,038 | |||||
*** | HUNTINGTON NATL BK | 05/14/2021, 3.25%, $1,000,000 | ** | 1,001,719 | ||||||
*** | HYUNDAI CAP | 03/19/2020, 2.60%, $530,000 | ** | 527,076 | ||||||
*** | INGERSOLL-RND LX | 05/01/2020, 2.63%, $150,000 | ** | 149,167 | ||||||
*** | INTERCONTINENTAL EXCHANGE INC | 12/01/2020, 2.75%, $676,000 | ** | 673,182 | ||||||
*** | INTERCONTINENTAL EXCHANGE INC | 09/21/2023, 3.45%, $591,000 | ** | 601,074 | ||||||
*** | ITC HLDGS CORP | 11/15/2022, 2.70%, $638,000 | ** | 618,844 | ||||||
*** | JAPAN BANK INTL | 07/21/2021, 1.50%, $982,000 | ** | 957,049 | ||||||
*** | JPMORGAN CHASE & CO | 01/23/2020, 2.25%, $800,000 | ** | 799,843 | ||||||
*** | JPMORGAN CHASE & CO | 10/29/2020, 2.55%, $500,000 | ** | 496,542 | ||||||
*** | JPMORGAN CHASE & CO | 06/23/2020, 2.75%, $1,580,000 | ** | 1,571,665 | ||||||
*** | JPMORGAN CHASE & CO | 06/18/2022, 3.51%, $1,000,000 | ** | 1,003,493 | ||||||
*** | JPMORGAN CHASE & CO | 04/23/2024, 3.56%, $1,000,000 | ** | 999,101 | ||||||
*** | JPMORGAN CHASE & CO | 12/05/2024, 4.02%, $1,200,000 | ** | 1,213,628 | ||||||
*** | KEYBANK NATL | 03/16/2020, 2.25%, $286,000 | ** | 284,802 | ||||||
*** | LOCKHEED MARTIN CORP | 11/23/2020, 2.50%, $692,000 | ** | 686,103 | ||||||
*** | MANUFACT &TRADE | 05/18/2022, 2.50%, $520,000 | ** | 506,654 | ||||||
*** | MANUFCTRS & TRDR | 02/06/2020, 2.10%, $800,000 | ** | 798,083 | ||||||
*** | MARSH & MCLENN | 03/06/2020, 2.35%, $750,000 | ** | 748,888 | ||||||
*** | MARSH & MCLENNAN | 01/30/2022, 2.75%, $576,000 | ** | 571,178 | ||||||
*** | MASSMUTUAL | 11/23/2020, 2.45%, $1,000,000 | ** | 988,968 | ||||||
*** | MASSMUTUL GLBL | 04/13/2022, 2.50%, $1,000,000 | ** | 981,681 | ||||||
*** | MCDONALDS CORP | 12/09/2020, 2.75%, $101,000 | ** | 100,448 | ||||||
*** | MCDONALDS MTN | 01/15/2022, 2.63%, $525,000 | ** | 519,724 | ||||||
*** | MET LIFE GLBL FDG | 04/14/2020, 2.00%, $1,020,000 | ** | 1,009,705 | ||||||
*** | MET LIFE GLOB | 04/08/2022, 2.65%, $1,000,000 | ** | 980,623 | ||||||
*** | MITSUBISHI UFJ FIN GRP INC | 03/01/2021, 2.95%, $575,000 | ** | 574,858 | ||||||
*** | MITSUBISHI UFJ FIN GRP INC | 02/22/2022, 3.00%, $528,000 | ** | 526,256 | ||||||
*** | MITSUBISHI UFJ FIN GRP INC | 03/02/2023, 3.46%, $750,000 | ** | 753,918 | ||||||
*** | MIZUHO FINL | 09/13/2021, 2.27%, $550,000 | ** | 536,261 | ||||||
*** | MIZUHO FINL | 04/12/2021, 2.63%, $510,000 | ** | 503,255 | ||||||
*** | MIZUHO FINL GROUP | 02/28/2022, 2.95%, $500,000 | ** | 495,206 | ||||||
*** | MORGAN STANLEY | 04/21/2021, 2.50%, $1,000,000 | ** | 984,745 | ||||||
*** | MORGAN STANLEY | 01/27/2020, 2.65%, $850,000 | ** | 853,160 | ||||||
*** | MORGAN STANLEY | 05/19/2022, 2.75%, $750,000 | ** | 732,032 | ||||||
*** | MORGAN STANLEY | 01/23/2023, 3.13%, $1,000,000 | ** | 989,887 | ||||||
*** | MORGAN STANLEY | 04/24/2024, 3.74%, $1,000,000 | ** | 999,316 | ||||||
*** | NEW YORK LIFE | 02/11/2020, 1.95%, $1,340,000 | ** | 1,334,820 | ||||||
*** | PHILIP MORRIS INTL INC | 02/25/2021, 1.88%, $1,612,000 | ** | 1,576,870 | ||||||
*** | PNC BANK NA | 04/29/2021, 2.15%, $500,000 | ** | 488,978 | ||||||
*** | PNC BANK NA | 12/09/2021, 2.55%, $500,000 | ** | 488,551 |
26
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Corporate bonds (continued) | ||||||||||
*** | PRICOA GLBL | 09/21/2022, 2.45%, $772,000 | ** | $ | 751,327 | |||||
*** | PRINCIPAL FDGII | 04/08/2020, 2.20%, $1,060,000 | ** | 1,053,118 | ||||||
*** | PROTECTIVE LF | 09/25/2020, 2.16%, $500,000 | ** | 493,871 | ||||||
*** | PROTECTVE LFE | 08/22/2022, 2.62%, $1,000,000 | ** | 981,323 | ||||||
*** | PUBLIC SERVICE ELE | 11/15/2022, 2.65%, $696,000 | ** | 671,996 | ||||||
*** | PUBLIC SVC ENT | 11/15/2021, 2.00%, $355,000 | ** | 341,800 | ||||||
*** | REGIONS FINL CORP | 02/08/2021, 3.20%, $750,000 | ** | 754,711 | ||||||
*** | REGIONS FINL CORP NEW | 08/14/2022, 2.75%, $955,000 | ** | 931,312 | ||||||
*** | REYNOLDS AMERICAN | 06/12/2020, 3.25%, $662,000 | ** | 658,970 | ||||||
*** | REYNOLDS AMERICAN | 06/12/2022, 4.00%, $357,000 | ** | 353,889 | ||||||
*** | ROPER TECHNOLOGIES INC | 12/15/2021, 2.80%, $786,000 | ** | 770,970 | ||||||
*** | ROPER TECHNOLOGIES INC | 12/15/2020, 3.00%, $1,000,000 | ** | 994,634 | ||||||
*** | ROPER TECHNOLOGIES INC | 09/15/2023, 3.65%, $640,000 | ** | 648,404 | ||||||
*** | ROYAL BANK OF CANADA | 10/05/2023, 3.70%, $1,000,000 | ** | 1,012,784 | ||||||
*** | ROYAL BK CAN GL | 10/30/2020, 2.35%, $700,000 | ** | 694,140 | ||||||
*** | ROYAL BK CDA | 04/30/2021, 3.20%, $1,000,000 | ** | 1,005,282 | ||||||
*** | ROYAL BK SCO | 06/25/2024, 4.52%, $1,218,000 | ** | 1,195,984 | ||||||
*** | SEMPRA ENERGY | 03/15/2020, 2.40%, $614,000 | ** | 609,638 | ||||||
*** | SEMPRA ENERGY | 11/15/2020, 2.85%, $408,000 | ** | 404,065 | ||||||
*** | SEMPRA ENERGY | 02/01/2023, 2.90%, $183,000 | ** | 180,022 | ||||||
*** | SHELL INTL | 11/10/2020, 2.25%, $750,000 | ** | 743,306 | ||||||
*** | SHELL INTL FIN BV | 05/11/2020, 2.13%, $793,000 | ** | 787,184 | ||||||
*** | SHIRE ACQ INV IRELAND DA | 09/23/2021, 2.40%, $1,250,000 | ** | 1,216,844 | ||||||
*** | SIMON PROP GRP | 01/30/2022, 2.35%, $213,000 | ** | 208,950 | ||||||
*** | SIMON PROPERTY GROUP LP | 06/01/2023, 2.75%, $840,000 | ** | 815,871 | ||||||
*** | SOUTHERN COMPANY | 07/01/2021, 2.35%, $1,040,000 | ** | 1,023,307 | ||||||
*** | SOUTHERN PWR CO | 06/01/2020, 2.38%, $373,000 | ** | 368,571 | ||||||
*** | SSM HEALTH CARE | 06/01/2023, 3.69%, $561,000 | ** | 567,837 | ||||||
*** | STARBUCKS CORP | 08/15/2025, 3.80%, $470,000 | ** | 471,998 | ||||||
*** | SUMITOMO BKG | 01/16/2020, 2.45%, $500,000 | ** | 501,581 | ||||||
*** | SUMITOMO MITSUI | 03/09/2021, 2.93%, $663,000 | ** | 662,050 | ||||||
*** | SUNTRUST BAN | 08/02/2022, 3.50%, $786,000 | ** | 795,468 | ||||||
*** | SUNTRUST BANKS INC | 03/03/2021, 2.90%, $765,000 | ** | 765,628 | ||||||
*** | TIME WARNER INC | 03/29/2021, 4.75%, $468,000 | ** | 485,472 | ||||||
*** | TJX COS INC | 06/15/2021, 2.75%, $521,000 | ** | 517,232 | ||||||
*** | TORONTO DOM BANK | 04/07/2021, 2.13%, $1,030,000 | ** | 1,012,968 | ||||||
*** | TOTAL CAP INTL | 06/19/2021, 2.75%, $550,000 | ** | 547,339 | ||||||
*** | TOYOTA MOTOR CORP | 01/11/2022, 2.60%, $500,000 | ** | 498,888 | ||||||
*** | TRANSCANADA PIP | 08/01/2022, 2.50%, $987,000 | ** | 957,457 | ||||||
*** | UBS AG LON | 12/01/2020, 2.45%, $500,000 | ** | 491,677 | ||||||
*** | UNITED HEALTH GROUP INC | 07/15/2020, 2.70%, $421,000 | ** | 424,669 |
27
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Corporate bonds (continued) | ||||||||||
*** | UNITED TECHNOLOGIES CORP | 08/16/2021, 3.35%, $289,000 | ** | $ | 291,837 | |||||
*** | UNITEDHEALTH GROUP INC | 03/15/2021, 2.13%, $750,000 | ** | 739,002 | ||||||
*** | USAA CAPITAL CORP | 06/01/2021, 2.00%, $750,000 | ** | 730,217 | ||||||
*** | VERIZON COMMUNICATIONS INC | 08/15/2021, 1.75%, $658,000 | ** | 639,720 | ||||||
*** | VERIZON COMMUNICATIONS INC | 02/21/2020, 2.63%, $514,000 | ** | 516,886 | ||||||
*** | VERIZON COMMUNICATIONS INC | 03/15/2022, 2.95%, $490,000 | ** | 488,081 | ||||||
*** | VERIZON COMMUNICATIONS INC | 11/01/2021, 3.00%, $500,000 | ** | 499,969 | ||||||
*** | VOLKSWAGEN GROUP AMER FIN LLC | 05/22/2020, 2.40%, $529,000 | ** | 522,075 | ||||||
*** | WASHINGTON PG | 04/01/2020, 3.85%, $530,000 | ** | 527,097 | ||||||
*** | WELLS FA | 07/23/2021, 3.33%, $1,000,000 | ** | 1,013,593 | ||||||
*** | WELLS FARGO & CO MTN | 07/22/2020, 2.60%, $1,000,000 | ** | 1,001,628 | ||||||
*** | WELLS FARGO | 01/22/2021, 3.00%, $1,040,000 | ** | 1,049,102 | ||||||
*** | WELLS FARGO BK | 08/14/2023, 3.55%, $1,000,000 | ** | 1,009,836 | ||||||
*** | WELLTOWER INC | 09/01/2023, 3.95%, $413,000 | ** | 420,121 | ||||||
*** | WESTPAC BANKING | 01/11/2022, 2.80%, $500,000 | ** | 497,192 | ||||||
*** | WISCONSIN ENERGY | 06/15/2020, 2.45%, $301,000 | ** | 297,732 | ||||||
*** | XCEL ENERGY INC | 03/15/2021, 2.40%, $283,000 | ** | 280,663 | ||||||
*** | ZOETIS INC | 11/13/2020, 3.45%, $145,000 | ** | 146,040 | ||||||
|
| |||||||||
Total corporate bonds | 146,535,803 | |||||||||
|
| |||||||||
Residential mortgage-backed bonds | ||||||||||
*** | FHLG 5.50% 03/34 #G01665 | 03/01/2034, 5.50%, $76,692 | ** | 82,522 | ||||||
*** | FHLG 5.50% 05/34 #Z40042 | 05/01/2034, 5.50%, $574,794 | ** | 617,546 | ||||||
*** | FHLG 15YR 3.50% 10/26 #G14450 | 10/01/2026, 3.50%, $1,293,117 | ** | 1,316,446 | ||||||
*** | FHLG 15YR 4.00% 04/26 #E02867 | 04/01/2026, 4.00%, $78,685 | ** | 80,891 | ||||||
*** | FHLG 15YR 4.00% 09/25 #E02787 | 09/01/2025, 4.00%, $133,635 | ** | 137,188 | ||||||
*** | FHLG 15YR 5.00% 04/20 #G13598 | 04/01/2020, 5.00%, $2,853 | ** | 2,883 | ||||||
*** | FHLG 15YR 2.50% 06/23#G14775 | 06/01/2023, 2.50%, $116,852 | ** | 116,390 | ||||||
*** | FHLG 15YR 2.50% 09/22#J20415 | 09/01/2022, 2.50%, $46,582 | ** | 46,457 | ||||||
*** | FHLG 15YR 2.50% 10/31#G16387 | 10/01/2031, 2.50%, $1,101,789 | ** | 1,087,134 | ||||||
*** | FHLG 15YR 3.00% 05/29#J29409 | 05/01/2029, 3.00%, $1,475,579 | ** | 1,481,638 | ||||||
*** | FHLG 15YR 3.50% 08/26#G15273 | 08/01/2026, 3.50%, $647,382 | ** | 659,062 | ||||||
*** | FHLG 20YR 3.00% 11/33#G30872 | 11/01/2033, 3.00%, $986,836 | ** | 990,812 | ||||||
*** | FHLG 20YR 3.50% 07/32#G31067 | 07/01/2032, 3.50%, $536,814 | ** | 546,332 | ||||||
*** | FHLG 20YR 3.50% 06/32#C91456 | 06/01/2032, 3.50%, $898,908 | ** | 914,846 | ||||||
*** | FHLG 20YR 6.00% 09/22 #C90580 | 09/01/2022, 6.00%, $14,854 | ** | 16,099 | ||||||
*** | FHLG 25YR 5.50% 07/35 #G05815 | 07/01/2035, 5.50%, $52,355 | ** | 56,298 | ||||||
*** | FHMS 2013-K025 A2 2.68% 10/22 | 10/25/2022, 2.68%, $241,000 | ** | 239,755 | ||||||
*** | FHMS 2017-K727 A1 2.63% 10/23 | 10/25/2023, 2.63%, $235,043 | ** | 233,812 | ||||||
*** | FHMS 2018-K079 A1 3.73% 02/28 | 02/25/2028, 3.73%, $314,054 | ** | 324,785 | ||||||
*** | FHMS K035 A2 3.46% 08/23 | 08/25/2023, 3.46%, $1,143,000 | ** | 1,169,253 |
28
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Residential mortgage-backed bonds (continued) | ||||||||||
*** | FHMS K724 A1 2.78% 03/23 | 03/25/2023, 2.78%, $333,630 | ** | $ | 332,736 | |||||
*** | FHR 2012-4135 AB 1.75% 06/42 | 06/15/2042, 1.75%, $93,532 | ** | 89,833 | ||||||
*** | FHR 2018-4765 QA 3.00% 02/46 | 02/15/2046, 3.00%, $2,153,696 | ** | 2,147,403 | ||||||
*** | FHR 2018-4766 MA 3.50% 02/46 | 02/15/2046, 3.50%, $2,022,047 | ** | 2,059,967 | ||||||
*** | FHR 4847 CA 3.50% 11/45 | 11/15/2045, 3.50%, $1,355,154 | ** | 1,376,665 | ||||||
*** | FNMA 6.50% 07/32 #545759 | 07/01/2032, 6.50%, $19,939 | ** | 22,381 | ||||||
*** | FNMA 6.50% 07/32 #545762 | 07/01/2032, 6.50%, $7,672 | ** | 8,610 | ||||||
*** | FNMA 6.50% 07/35 #745092 | 07/01/2035, 6.50%, $8,691 | ** | 9,800 | ||||||
*** | FNMA 6.50% 08/36 #888034 | 08/01/2036, 6.50%, $13,984 | ** | 15,682 | ||||||
*** | FNMA 6.50% 12/32 #735415 | 12/01/2032, 6.50%, $7,933 | ** | 8,904 | ||||||
*** | FNMA 10YR 2.50% 05/23 #MA1431 | 05/01/2023, 2.50%, $172,056 | ** | 171,468 | ||||||
*** | FNMA 10YR 2.50% 10/22#AB6544 | 10/01/2022, 2.50%, $75,450 | ** | 75,194 | ||||||
*** | FNMA 10YR 2.50% 10/22#AB6730 | 10/01/2022, 2.50%, $66,121 | ** | 65,896 | ||||||
*** | FNMA 15YR 3.50% 01/26 #AL1168 | 01/01/2026, 3.50%, $109,340 | ** | 111,268 | ||||||
*** | FNMA 15YR 3.50% 03/27 #AL1746 | 03/01/2027, 3.50%, $533,328 | ** | 543,350 | ||||||
*** | FNMA 15YR 3.50% 05/27 #AL1741 | 05/01/2027, 3.50%, $325,960 | ** | 332,198 | ||||||
*** | FNMA 15YR 3.50% 05/27 #AL1751 | 05/01/2027, 3.50%, $118,402 | ** | 120,668 | ||||||
*** | FNMA 15YR 3.00% 07/30#AL8853 | 07/01/2030, 3.00%, $2,321,247 | ** | 2,334,586 | ||||||
*** | FNMA 15YR 4.50% 11/25#AL8242 | 11/01/2025, 4.50%, $288,167 | ** | 298,103 | ||||||
*** | FNMA 5.50% 11/34 #310105 | 11/01/2034, 5.50%, $415,295 | ** | 447,293 | ||||||
*** | FNMA 6.50% 12/35 #AD0723 | 12/01/2035, 6.50%, $79,199 | ** | 88,895 | ||||||
*** | FNMA 6.50% 08/36 #888544 | 08/01/2036, 6.50%, $62,741 | ** | 70,549 | ||||||
*** | FNMA 6.50% 08/36 #AE0746 | 08/01/2036, 6.50%, $52,648 | ** | 59,176 | ||||||
*** | FNR 2012-149 DA 1.75% 01/43 | 01/25/2043, 1.75%, $123,846 | ** | 118,905 | ||||||
*** | FNR 2018-11 LA 3.50% 07/45 | 07/25/2045, 3.50%, $1,289,582 | ** | 1,312,403 | ||||||
*** | FNR 2018-16 NB 3.25% 12/44 | 12/25/2044, 3.25%, $1,004,954 | ** | 1,013,576 | ||||||
*** | FNR 2018-3 LP 3.00% 02/47 | 02/25/2047, 3.00%, $2,883,616 | ** | 2,871,349 | ||||||
*** | FNR 2018-44 PA 3.50% 06/44 | 06/25/2044, 3.50%, $6,422,861 | ** | 6,491,068 | ||||||
*** | FNR 2018-88 BA 4.00% 11/43 | 11/25/2043, 4.00%, $1,912,046 | ** | 1,970,108 | ||||||
|
| |||||||||
Total residential mortgage-backed bonds | 34,688,182 | |||||||||
|
| |||||||||
State and Political Subdivisions Bonds | ||||||||||
*** | NYC TFA (PIT) 2.05% 08/23 | 08/01/2023, 2.05%, $280,000 | ** | 270,055 | ||||||
*** | NYC TFA (PIT) 2.85% 02/24 | 02/01/2024, 2.85%, $255,000 | ** | 252,760 | ||||||
*** | NYS UDC 2.67% 03/23 | 03/15/2023, 2.67%, $645,000 | ** | 642,486 | ||||||
*** | NYS UDC 2.70% 03/23 | 03/15/2023, 2.70%, $1,110,000 | ** | 1,107,081 | ||||||
*** | QUEBEC PROVINCE 2.38% 01/22 | 01/31/2022, 2.38%, $1,000,000 | ** | 997,712 | ||||||
|
| |||||||||
Total State and Political Subdivisions Bonds | 3,270,094 | |||||||||
|
|
29
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
US Treasury, government and agency bonds | ||||||||||
*** | FNMA | 01/01/2027, 3.50%, $221,603 | ** | $ | 225,844 | |||||
*** | FNMA | 07/01/2026, 3.50%, $48,382 | ** | 49,263 | ||||||
*** | FNMA | 09/01/2029, 3.50%, $497,727 | ** | 507,097 | ||||||
*** | FNMA | 10/01/2029, 3.50%, $206,364 | ** | 210,249 | ||||||
*** | FNMA | 08/01/2027, 4.00%, $1,221,379 | ** | 1,254,061 | ||||||
*** | FNMA | 01/01/2033, 2.50%, $272,304 | ** | 267,251 | ||||||
*** | FNMA | 01/01/2033, 2.50%, $305,425 | ** | 299,757 | ||||||
*** | FNMA | 01/01/2033, 2.50%, $183,573 | ** | 180,167 | ||||||
*** | FNMA | 01/01/2033, 2.50%, $216,041 | ** | 212,032 | ||||||
*** | FNMA | 07/01/2032, 3.50%, $1,516,124 | ** | 1,543,951 | ||||||
*** | UST NOTE | 03/31/2022, 1.88%, $11,500,000 | ** | 11,339,536 | ||||||
*** | USTN | 02/28/2021, 1.13%, $22,551,000 | ** | 21,981,900 | ||||||
*** | USTN | 08/31/2022, 1.63%, $8,370,000 | ** | 8,165,588 | ||||||
*** | USTN | 11/30/2021, 1.75%, $39,585,000 | ** | 38,845,762 | ||||||
*** | USTN | 12/31/2020, 1.75%, $4,000,000 | ** | 3,942,518 | ||||||
*** | USTN | 07/31/2022, 1.88%, $11,238,000 | ** | 11,093,152 | ||||||
*** | USTN | 12/31/2022, 2.13%, $2,127,000 | ** | 2,097,343 | ||||||
*** | USTN | 06/30/2023, 2.63%, $5,500,000 | ** | 5,528,938 | ||||||
|
| |||||||||
Total US Treasury, government and agency bonds | 107,744,409 | |||||||||
|
| |||||||||
Common stock - finance | ||||||||||
* | AXA ADR FUND | 2,460,915 Shares | 47,821,621 | |||||||
|
| |||||||||
Growth mutual funds | ||||||||||
* | EQ Advisors Trust | EQ GAMCO Small Company Value | 71,411,294 | |||||||
* | EQ Advisors Trust | MFS international growth cit | 25,440,563 | |||||||
Hood River small cap growth | HoodRiver Small Cap Growth | 55,696,191 | ||||||||
|
| |||||||||
Total growth mutual funds | 152,548,048 | |||||||||
|
| |||||||||
Index mutual funds | ||||||||||
* | State Street Bank and Trust Company | Intertnl Index Non Lend Cl A | ** | 75,932,277 | ||||||
* | State Street Bank and Trust Company | Russel SM/MID Cap Idx Nl Cl A | ** | 40,087,889 | ||||||
* | State Street Bank and Trust Company | S&P 500 Index Non Lending Cl A | ** | 225,939,462 | ||||||
* | State Street Bank and Trust Company | Tuckerm Glb Liq Rl Est Nl Cl A | ** | 57,229,730 | ||||||
* | State Street Bank and Trust Company | US Bond Index Non Lending Cl A | ** | 68,776,165 | ||||||
* | State Street Bank and Trust Company | US Infl Prot BD Idx Nl Cl A | ** | 42,139,266 | ||||||
* | State Street Bank and Trust Company | US ST Govt Crd Bd Idx Nl Cl A | ** | 16,504,911 | ||||||
|
| |||||||||
Total Index mutual funds | 526,609,700 | |||||||||
|
|
30
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Fixed income mutual funds | ||||||||||
* | Fidelity Management Trust Company | Colchester Street Trust: Money Market Portfolio | ** | $ | 15,517,484 | |||||
*** | State Street Global Advisors | SSgA U.S. Government Short Term Investment Fund Class A | ** | 2,892,098 | ||||||
|
| |||||||||
Total fixed income mutual funds | 18,409,582 | |||||||||
|
| |||||||||
Other mutual funds | ||||||||||
*,1 | Dodge & Cox International Stock | Dodge & Cox International Stock | ** | 59,554,811 | ||||||
|
| |||||||||
Collective Trusts | ||||||||||
BlackRock MSCI | BlackRock MSCI | ** | 56,981,317 | |||||||
BlackRock Russe | BlackRock Russe | ** | 108,757,712 | |||||||
BlackRock U.S. | BlackRock U.S. | ** | 3,257,316 | |||||||
BlkRck Eq Index | BlkRck Equity Index Fund | ** | 305,371,674 | |||||||
* | MFS Heritage Trust | EQ/MFS International Growth | ** | 33,640,230 | ||||||
MW Total Return | MW Total Return | ** | 37,574,583 | |||||||
* | State Street Bank and Trust Company | AB US YIELD COLL INV TRST | ** | 33,884,507 | ||||||
|
| |||||||||
Total Collective Trusts | 579,467,339 | |||||||||
|
| |||||||||
Self Directed Brokerage Account (SDBA) | ||||||||||
* | Self Directed Brokerage Account | ** | 32,875,436 | |||||||
|
| |||||||||
Short-term investments | ||||||||||
*** | AMERICAN INTERNATIONAL GRP INC 2.30% 07/19 | 07/16/2019, 2.30%, $1,264,000 | ** | 1,272,046 | ||||||
*** | AMGEN INC 2.20% 05/19 | 05/22/2019, 2.20%, $450,000 | ** | 449,337 | ||||||
*** | AUSTRALIA & NZ BKG GRP NY MTN 2.25% 06/19 | 06/13/2019, 2.25%, $830,000 | ** | 828,116 | ||||||
*** | BARCLAYS PLC (UNGTD) 2.75% 11/19 | 11/08/2019, 2.75%, $466,000 | ** | 464,496 | ||||||
*** | BNP PARIBAS / BNP PARIBAS US MEDIUM TERM NT PROGRA 2.45% 03/19 | 03/17/2019, 2.45%, $565,000 | ** | 568,345 | ||||||
*** | BPCE SA 2.50% 7/19 | 07/15/2019, 2.50%, $550,000 | ** | 554,229 | ||||||
*** | BRITISH TELECOM PLC 2.35% 02/19 | 02/14/2019, 2.35%, $679,000 | ** | 684,164 | ||||||
* | Interest bearing cash held in Clearing Account | ** | 6,065,690 | |||||||
*** | CITIGROUP INC 2.50% 07/19 | 07/29/2019, 2.50%, $550,000 | ** | 553,934 | ||||||
*** | CITIZENS BK MTN 2.45% 12/19 | 12/04/2019, 2.45%, $1,500,000 | ** | 1,492,144 | ||||||
*** | COMMONWEALTH BK NY 2.30% 09/19 | 09/06/2019, 2.30%, $550,000 | ** | 551,333 | ||||||
*** | CREDIT SUISSE MTN BE 2.30% 05/19 | 05/28/2019, 2.30%, $1,110,000 | ** | 1,109,058 | ||||||
*** | DAIMLER FIN NA 2.25% 09/19 144A | 09/03/2019, 2.25%, $1,100,000 | ** | 1,101,096 | ||||||
*** | DEUTSCHE BANK AG 2.50% 2/19 | 02/13/2019, 2.50%, $1,510,000 | ** | 1,521,602 | ||||||
*** | DEUTSCHE BANK AG 2.85% 5/19 | 05/10/2019, 2.85%, $1,300,000 | ** | 1,297,439 |
31
Table of Contents
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE H, PART IV, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2018
(a) | (b) Identity of issue, borrower, lessor , or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current value | ||||||
Short-term investments (Continued) | ||||||||||
*** | DIAMOND 1 FI 3.48% 6/19 144A | 06/01/2019, 3.48%, $1,040,000 | ** | $ | 1,039,946 | |||||
*** | ENTERPRISE PRODS OPER LLC 2.55% 10/19 | 10/15/2019, 2.55%, $113,000 | ** | 113,011 | ||||||
*** | ERP OPERATING LP 2.38% 07/19 | 07/01/2019, 2.38%, $363,000 | ** | 366,193 | ||||||
*** | FHLG 15YR 5.50% 03/19 #E01604 | 03/01/2019, 5.50%, $381 | ** | 383 | ||||||
*** | FIFTH THIRD BAN 2.38% 04/19 | 04/25/2019, 2.38%, $862,000 | ** | 863,976 | ||||||
*** | HSBC USA INC 2.25% 06/19 | 06/23/2019, 2.25%, $835,000 | ** | 832,084 | ||||||
*** | KEY BANK NA 2.50% 12/19 | 12/15/2019, 2.50%, $429,000 | ** | 426,850 | ||||||
*** | KINDER MORGAN EN 2.65 02/19 | 02/01/2019, 2.65%, $261,000 | ** | 263,743 | ||||||
*** | KINDER MORGAN IC 3.05% 12/19 | 12/01/2019, 3.05%, $390,000 | ** | 388,749 | ||||||
*** | MASSMUTUAL GLB 2.35% 04/19 144A | 04/09/2019, 2.35%, $1,120,000 | ** | 1,124,787 | ||||||
*** | MITSUBISHI 2.45% 10/19 144A | 10/16/2019, 2.45%, $550,000 | ** | 549,679 | ||||||
*** | MIZUHO BNK LTD 2.65% 09/19 144A | 09/25/2019, 2.65%, $550,000 | ** | 551,962 | ||||||
*** | MORGAN STANLEY 2.38% 07/19 | 07/23/2019, 2.38%, $1,050,000 | ** | 1,056,395 | ||||||
*** | MORGAN STANLEY 2.50% 01/19 | 01/24/2019, 2.50%, $2,575,000 | ** | 2,602,024 | ||||||
*** | PNC BANK NA 2.40% 10/19 | 10/18/2019, 2.40%, $550,000 | ** | 549,435 | ||||||
*** | PRINCIPAL FDG 2.38% 09/19 144A | 09/11/2019, 2.38%, $1,000,000 | ** | 1,000,824 | ||||||
*** | SYNCHRONY FINANCIAL 3.00% 08/19 | 08/15/2019, 3.00%, $196,000 | ** | 196,930 | ||||||
*** | TRANSCANADA 2.13% 11/19 | 11/15/2019, 2.13%, $1,020,000 | ** | 1,013,061 | ||||||
*** | UBS AG STAM 2.38% 8/19 | 08/14/2019, 2.38%, $830,000 | ** | 834,149 | ||||||
*** | WELLPOINT INC 2.25% 08/19 | 08/15/2019, 2.25%, $550,000 | ** | 551,734 | ||||||
*** | WESTPAC BANKING 1.60% 08/19 | 08/19/2019, 1.60%, $1,000,000 | ** | 996,985 | ||||||
*** | XEROX CORP 2.75% 03/19 | 03/15/2019, 2.75%, $696,000 | ** | 698,156 | ||||||
|
| |||||||||
Total Short- term investments | 34,534,085 | |||||||||
|
| |||||||||
Subtotal: Investments at fair value | 1,880,999,467 | |||||||||
Adjustment from fair value to contract value for fully benefit-responsive investment contracts | 5,040,657 | |||||||||
|
| |||||||||
Subtotal | 1,886,040,124 | |||||||||
|
| |||||||||
Notes receivable from participants | ||||||||||
Notes receivable from participants | 4.25% to 7.75% (2019 -2033) | ** | 22,436,798 | |||||||
|
| |||||||||
Total | $ | 1,908,476,922 | ||||||||
|
|
* | Represents a party-in-interest. |
** | Cost information is not required for participant-directed investments and, therefore, is not included. |
*** | Represents underlying investments of the Plan’s Synthetic GICs, which amounts are presented at fair value and are managed by a party-in-interest. |
1 | A portion of this fund represents an investment in the AXA Equitable target allocation funds |
32
Table of Contents
SIGNATURES
The Plan: Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plans) have duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized.
AXA Equitable 401(k) Plan | ||||||
(Name of Plan) | ||||||
Dated: June 27, 2019 |
| By: | /s/ Barbara Lenkiewicz | |||
| ||||||
BARBARA LENKIEWICZ Chairperson of The Administrative Committee of Benefit | ||||||
Dated: June 27, 2019 |
| By: | /s/ Glen Gardner | |||
| ||||||
GLEN GARDNER Chairperson of The Defined Contribution Plans Investment |
33