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Table of Contents











SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
———————————————————
FORM 11-K
———————————————————

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

For the fiscal year ended December 31, 2017

Commission File Number 0-20355

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


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

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








Table of Contents


COSTCO 401(k) RETIREMENT PLAN
Table of Contents
 
Page
Financial Statements:
 
Supplemental Information
 
Exhibit:
 
 

Table of Contents


Report of Independent Registered Public Accounting Firm


The Benefits Committee
Costco 401(k) Retirement Plan:

Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Costco 401(k) Retirement Plan (the Plan) as of December 31, 2017 and 2016, the related statement of changes in net assets available for benefits for the year ended December 31, 2017, and the related notes (collectively, 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, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. 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.
Accompanying Supplemental Information
The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ KPMG LLP
We have served as the Plan’s auditor since 2002.
Seattle, WA
June 22, 2018


1
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Statements of Net Assets Available for Benefits
December 31, 2017 and 2016
(in thousands)


 
 
 
 
 
 
 
2017
 
2016
Assets:
 
 
 
 
 
 
 
 
Investments at fair value:
 
 
 
 
 
Costco Wholesale Corporation common stock
$
5,507,519

 
$
4,606,549

 
 
Common commingled trust funds
3,857,434

 
2,920,636

 
 
Separately managed accounts
2,197,607

 
1,742,565

 
 
Registered investment company funds
1,255,566

 
995,090

 
Investments at contract value:
 
 
 
 
 
Fully benefit-responsive investment contracts
1,181,089

 
1,170,622

 
 
 
 
 
Total investments
13,999,215

 
11,435,462

 
Receivables:
 
 
 
 
 
 
Notes receivable from participants
484,852

 
454,622

 
 
Employer contributions (net of forfeitures)
324,291

 
300,230

 
 
 
 
 
Total receivables
809,143

 
754,852

 
Non-interest bearing cash
482

 
2,218

Net assets available for benefits
$
14,808,840

 
$
12,192,532
































See accompanying notes to financial statements.

2
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2017
(in thousands)


 
2017
Net investment income:
 
 
Net appreciation of investments
$
1,937,850

 
Interest
24,944

 
Dividends
313,398

 
 
Total net investment income
2,276,192

Interest on notes receivable from participants
21,831

Contributions to the Plan:
 
 
Employee
535,788

 
Employer (net of forfeitures)
384,953

 
 
Total contributions
920,741

Distributions to participants and other
(602,456
)
 
 
Net increase in net assets available for benefits
2,616,308

Net assets available for benefits, beginning of year
12,192,532

Net assets available for benefits, end of year
$
14,808,840

































See accompanying notes to financial statements.

3
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements
December 31, 2017 and 2016

(1)
Plan Description

The following description of the Costco 401(k) Retirement Plan (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions. To participate in the Plan, an individual must be an employee of Costco Wholesale Corporation (the Company or Costco) and certain subsidiaries.
The Plan is a defined contribution plan for the benefit of eligible employees, established by the Company under Section 401(a) of the Internal Revenue Code (IRC). It includes a qualified cash or deferred arrangement as described in Section 401(k) of the IRC. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.
(a)
Employee Contributions

The Plan allows certain employees at least 18 years of age to make salary deferral contributions after completing 90 days of service within 12-consecutive months. Eligible employees may contribute from 1% to 50% of their compensation, subject to certain limitations set by the IRC and the Plan. Eligible employees may also contribute amounts representing certain distributions from other retirement plans (known as rollover contributions).
All newly-eligible employees are automatically enrolled in the Plan at a salary deferral contribution rate of 3% unless the employee elects otherwise. The percentage deferred into the Plan automatically increases by one percentage point each year, to a maximum automatic deferral of 20%. Employees may choose to opt out of this automatic deferral increase.
(b)
Employer Contributions

All Company contributions are invested in accordance with investment selections made by participants. If no selection has been made, the contribution defaults to the Retirement Trust Fund corresponding to the participant's age. Employer contributions are allocated based on an employee’s work classification as either: 1) covered by the collective bargaining agreements with the International Brotherhood of Teamsters; or 2) other eligible employment.
(1)
Covered by the Teamster Agreements
The Company matches 50% of each employee’s contribution up to a maximum of $250 per year. In addition, eligible employees at least 18 years of age who have completed a year of service (12 consecutive months in which the employee worked at least 1,000 hours) are eligible for an annual discretionary employer contribution. Plan entry dates for the discretionary contribution occur on January 1 and July 1. The discretionary contribution is allocated only to the accounts of all eligible Plan participants who are employed on the last day of the applicable Plan year. The allocation rate varies, based on years of service, ranging from $0.05 to $0.47 per straight-time hour worked during the Plan year up to a maximum of 2,080 hours. These contributions totaled $6.3 million for the year ended December 31, 2017.
(2)
Other eligible employment (not covered by the Teamsters Agreements)
The Company matches 50% of each employee’s contribution up to a maximum of $500 per year. In addition, eligible employees at least 18 years of age who have completed a year of service (12 consecutive months in which the employee worked at least 1,000 hours) are eligible for an annual discretionary employer contribution. Plan entry dates for the discretionary contribution occur on January 1 and July 1. The discretionary contribution is allocated only to the accounts of eligible Plan participants who are employed on the last day of the applicable Plan year. The allocation rate varies,

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Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2017 and 2016


based on years of service, ranging from 3% to 9% of the participant's compensation. These contributions totaled $321.0 million for the year ended December 31, 2017.
(c)
Participants’ Accounts

Each participant’s account is credited or debited with the participant’s contributions, the Company’s contributions, earnings, fees, expenses and increases and decreases in underlying account assets. The benefit to which a participant is entitled is the participant’s vested account balance.
(d)
Vesting

Participants are immediately vested in their deferral contributions and in certain other contributions as defined in the Plan document adjusted for investment experience, fees and expenses. Vesting in any form of employer contribution is based on the following schedule:
Years of service
 
Percentage vested
Under 2 years
 
 
0%
2 years
 
 
20%
3 years
 
 
40%
4 years
 
 
60%
5 years
 
 
100%
(e)
Forfeitures

If a participant terminates employment, the non-vested portion of the account balance is forfeited. Forfeited amounts are used to reduce future employer contributions or to pay administrative expenses. These were immaterial during the years ended December 31, 2017 and 2016. There were no unallocated forfeitures as of December 31, 2017 and 2016, after application to reduce the employer discretionary contributions. Forfeitures are restored to a participant’s account if, within five years, the participant is re-hired by the Company and repays the full amount of the vested account balance distributed upon termination.
(f)
Investment Options

Participants may direct their account by investing in any of the Plan's available options. Participants may transfer amounts between investment options on business days that the NYSE is open, subject to certain trading restrictions. Before 2016, participants could invest 100% of their account in Costco stock; starting January 2016, the Plan has a 50% limit on investment in Costco stock, applied prospectively.
Amounts may be temporarily invested in a cash account prior to investment in the Plan’s investment accounts. See Note 2, 3 and 4 for additional information regarding the Plan's investments.
(g)
Distributions

Upon termination of employment, total disability, reaching age 59-1/2 or death, a participant (or participant's beneficiary in the case of death) can request a full, partial or, in certain circumstances, installment or rollover distribution for the vested portion of the account. Participants are also eligible to withdraw a portion of the salary deferral contribution account in the event of certain financial hardships.
Dividends on the Company’s stock are reinvested in the participant’s Company stock account unless a distribution is requested by the participant. Dividends on the Company’s stock are reported on a gross basis, with total dividends reported as “Dividends” and the amounts distributed reported as “Distributions to participants” in the statement of changes in net assets available for benefits. On April 25, 2017, the

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Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2017 and 2016


Company declared a special cash dividend of $7 per share, which was paid on May 26, 2017. Of the $210.2 million special dividend paid to Plan participants, $134.9 million was distributed to the participants and the remaining $75.3 million was reinvested.
(h)
Notes Receivable from Participants

A participant may borrow between $1,000 up to the lesser of $50,000 or 45% of their vested account balance. Loans are repaid through payroll deductions over a period ranging up to four years or, if for the purchase of a principal residence, up to 15 years. The interest rate is determined by the Plan Administrator from time-to-time and is similar to comparable rates charged by commercial lenders. At December 31, 2017, interest rates on loans outstanding ranged from 4.25% to 11.50%, with various maturities through December 2032. Participant accounts with loans are charged an application fee at initiation and an annual maintenance fee.
(i)
Trustee and Plan Administrator

T. Rowe Price Trust Company is the trustee and recordkeeper for the Plan, and the Costco Benefits Committee is the Plan Administrator.
(j)
Administrative and Investment Expenses

Certain administrative expenses, including investment management and transactions fees, are paid by the Plan. All other administrative expenses are paid by the Company.

(2)
Summary of Significant Accounting Policies

(a)
Basis of Accounting

The financial statements of the Plan are prepared under the accrual method of accounting. As required under U.S. generally accepted accounting principles (U.S. GAAP), fully benefit-responsive investment contracts are reported at contract value (see Note 3), while all other investments in the Plan are reported at fair value (see Note 4). A benefit-responsive investment contract is a contract with a financial institution or an insurance company that provides for a stated return on principal invested over a specified period and that permits withdrawals at contract value for benefit payments, loans, or transfers to other investment options offered to the participant by the Plan. Contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.
(b)
Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates and assumptions.
(c)
Investment Valuation and Income Recognition

The Plan invests in the Company’s common stock, common commingled trust funds and other exchange-traded equity securities held in the separately managed accounts, as well as registered investment companies and certain fully benefit-responsive investment contracts that, in turn, invest in a combination of stocks, bonds and other investment securities. Investment securities are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to risk associated with certain investment securities, it is possible that changes in the values of investment securities will occur and that those changes could materially affect the amounts reported in the statements of net assets available for benefits.

6
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2017 and 2016


The Capital Preservation Portfolio (CPP) is invested in Synthetic Guaranteed Investment Contracts (SICs) and Separate Account Contracts (SACs), which are fully benefit-responsive and recorded at contract value. Participant withdrawals are required to be recorded at contract value.
There are no reserves against contract value for credit risk of the contract issuer or otherwise. The crediting interest rate is based on a formula agreed upon with the issuer, but may not be less than zero. Such interest rates are reviewed on a quarterly basis for resetting. Certain events may limit the ability of the Plan to transact at contract value with the issuer. Events may include, but are not limited to Plan termination, bankruptcy of the Company, or defunction of the trustee. A result may be that the fully benefit-responsive contracts are terminated and settled at an amount different from the contract value. The Plan Administrator believes at this time that any events that would limit the Plan’s ability to transact at contract value with participants are not probable.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation of investments includes the change in the fair value or contract value of assets from one period to the next, plus realized gains and losses.
(d)
Notes Receivable from Participants

Participant loans are classified as notes receivable from participants, which are segregated from Plan investments and measured at their unpaid principal balance plus any accrued but unpaid interest.
(e)
Distribution of Benefits

Distributions of benefits are recorded when paid.
(f)     Subsequent Events

The Plan monitors significant events occurring after the balance sheet date and prior to the issuance of the financial statements to determine the impacts, if any, of events on the financial statements to be issued. The Plan has evaluated subsequent events through the date which the financial statements are issued.

(3)
Fully Benefit-Responsive Investment Contracts

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

SIC: Consist of a portfolio of underlying assets owned by the Plan and wrap contracts issued by an insurance company and a financial institution. The issuers of the wrap contracts provide for unscheduled withdrawals from the contracts at contract value, regardless of the value of the underlying assets, in order to fund routine permitted participant-initiated withdrawals.
SAC and wrap contract: These are contracts with an insurance company. The issuer legally owns the assets and is required to segregate them into a separate account, which is designed to be protected from the claims of the issuer’s general creditors in the event of insolvency. The issuer of the wrap contract provides for unscheduled withdrawals from the contract at contract value, regardless of the value of the underlying assets, in order to fund routine permitted participant-initiated withdrawals.

7
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2017 and 2016


The table below presents the total contract value of each type of fully benefit-responsive investment contract in the Plan as of December 31, 2017, and 2016.

 
Fully benefit-responsive investment contracts (in thousands)
 
2017
 
2016
SIC
$
995,843

 
$
984,996

SAC
185,246

 
185,626

Total fully benefit-responsive investment contracts
$
1,181,089

 
$
1,170,622

(4)
Fair Value Measurement

U.S. GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying a fair value hierarchy, which requires maximizing the use of observable inputs. The three levels of inputs are:
Level 1: Quoted market prices in active markets for identical assets or liabilities.
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3: Significant unobservable inputs that are not corroborated by market data.
Valuation techniques utilized during the reporting period in the fair value measurement of Level 1, Level 2, and Level 3 assets and liabilities presented on the Plan’s statements of net assets available for benefits were not changed from previous practice.
The following is a description of the valuation methodologies used for assets measured at fair value.
Common stock, registered investment company funds, and separately managed accounts: Valued at the closing price reported in the active market in which the individual securities are traded. These assets are valued using Level 1 inputs.
Common commingled trust: The valuation techniques used to measure the fair value of common commingled trust funds are based on quoted market prices, such as quoted net asset values (NAV) published by the fund as supported in an active market. Plan participant transactions of investment or withdrawals may occur on a daily basis in these trusts. There are no unfunded commitments at December 31, 2017 or 2016. These assets are valued using Level 1 inputs.
The tables below present information regarding investments that are measured at fair value on a recurring basis and indicate the level within the hierarchy reflecting the valuation techniques utilized to determine fair value as of December 31, 2017 and 2016.
December 31, 2017:
Level 1
 
Level 2
 
Level 3
 
Total
Investments measured at fair value:
 
 
 
 
 
 
 
Costco Wholesale Corporation common stock
$
5,507,519

 
$
—

 
$
—

 
$
5,507,519

Common commingled trust funds
3,857,434

 
—

 
—

 
3,857,434

Separately managed accounts
2,197,607

 
—

 
—

 
2,197,607

Registered investment company funds
1,255,566

 
—

 
—

 
1,255,566

Total investments in fair value hierarchy
$
12,818,126

 
$
—

 
$
—

 
$
12,818,126


8
Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2017 and 2016



December 31, 2016:
Level 1
 
Level 2
 
Level 3
 
Total
Investments measured at fair value:
 
 
 
 
 
 
 
Costco Wholesale Corporation common stock
$
4,606,549

 
$
—

 
$
—

 
$
4,606,549

Common commingled trust funds
2,920,636

 
—

 
—

 
2,920,636

Separately managed accounts
1,742,565

 
—

 
—

 
1,742,565

Registered investment company funds
995,090

 
—

 
—

 
995,090

Total investments in fair value hierarchy
$
10,264,840

 
$
—

 
$
—

 
$
10,264,840

(5)
Plan Termination

Although it has no present intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA and the requirements of the collective bargaining agreement with the International Brotherhood of Teamsters. In the event of plan termination, participants will become 100% vested in their accounts.
(6)
Tax Status

In a determination letter dated June 9, 2017, the IRS informed the Company that the Plan is designed in accordance with applicable sections of the IRC. The Plan Administrator believes that the Plan is designed and is being operated in compliance with the requirements of the IRC.
U.S. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2017, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; there are currently no audits in progress. The Plan Administrator believes it is no longer subject to income tax examinations for years prior to 2014.
(7)
Party-in-Interest and Related Party Transactions

Certain Plan investments are shares of registered investment companies, benefit-responsive investment contracts, and common commingled trust funds managed by T. Rowe Price. T. Rowe Price is also the trustee and recordkeeper as defined by the Plan, therefore these transactions qualify as party-in-interest transactions.
As the Plan sponsor, the Company is a party-in-interest with respect to the Plan. As of December 31, 2017 and 2016, the Plan held 29,591,000 and 28,771,000 shares of Costco common stock, with a cost basis of $5.5 billion and $4.6 billion, respectively. The Plan recorded dividend income on Costco common stock of $268.3 million during 2017.



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Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2017
(in thousands)

(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
Registered investment company and common commingled trust funds:
 
 
 
 
 
 
 
 
 
 
American Funds
 
New Perspective Fund R6
 
**
 
$
285,388

 
 
PIMCO
 
Income Institutional
 
**
 
403,135

 
 
* T. Rowe Price
 
Retirement Balanced Trust E
 
**
 
23,766

 
 
* T. Rowe Price
 
TRP Ret 2005 Active Trust E
 
**
 
14,968

 
 
* T. Rowe Price
 
TRP Ret 2010 Active Trust E
 
**
 
41,025

 
 
* T. Rowe Price
 
TRP Ret 2015 Active Trust E
 
**
 
126,593

 
 
* T. Rowe Price
 
TRP Ret 2020 Active Trust E
 
**
 
346,648

 
 
* T. Rowe Price
 
TRP Ret 2025 Active Trust E
 
**
 
497,935

 
 
* T. Rowe Price
 
TRP Ret 2030 Active Trust E
 
**
 
515,235

 
 
* T. Rowe Price
 
TRP Ret 2035 Active Trust E
 
**
 
433,273

 
 
* T. Rowe Price
 
TRP Ret 2040 Active Trust E
 
**
 
538,160

 
 
* T. Rowe Price
 
TRP Ret 2045 Active Trust E
 
**
 
607,379

 
 
* T. Rowe Price
 
TRP Ret 2050 Active Trust E
 
**
 
332,208

 
 
* T. Rowe Price
 
TRP Ret 2055 Active Trust E
 
**
 
345,972

 
 
* T. Rowe Price
 
TRP Ret 2060 Active Trust E
 
**
 
34,273

 
 
Vanguard
 
Total International Stock Index DX Institutional
 
**
 
16,696

 
 
Vanguard
 
Total Bond Market Index Fund Institutional
 
**
 
52,390

 
 
Vanguard
 
Institutional Index, Plus
 
**
 
497,956

 
 
Total registered investment company and common commingled trust funds
 
 
 
5,113,000

Separately managed accounts:
 
 
 
 
 
 
 
 
 
 
Mid-Cap Growth Portfolio:
 
 
 
 
 
 
 
 
 
Acadia Healthcare Co Inc.
 
Common Stock
 
**
 
3,066

 
 
 
Acuity Brands Inc.
 
Common Stock
 
**
 
4,574

 
 
 
Agilent Technologies Inc.
 
Common Stock
 
**
 
15,931

 
 
 
Air Products & Chemicals Inc.
 
Common Stock
 
**
 
11,152

 
 
 
Alkermes Plc
 
Common Stock
 
**
 
10,230

 
 
 
Allegion Plc
 
Common Stock
 
**
 
8,111

 
 
 
Alnylam Pharmaceuticals Inc.
 
Common Stock
 
**
 
7,365

 
 
 
Aramark
 
Common Stock
 
**
 
7,006

 
 
 
Arc Resources Ltd
 
Common Stock
 
**
 
2,492

 
 
 
Ardagh Group SA
 
Common Stock
 
**
 
380

 
 
 
Ashland Global Holdings Inc.
 
Common Stock
 
**
 
3,914

 
 
 
Athena Health Inc.
 
Common Stock
 
**
 
1,995

 
 
 
Atlassian Corp Plc-Class A
 
Common Stock
 
**
 
5,596

 
 
 
Ball Corp
 
Common Stock
 
**
 
11,614

 
 
 
Bioverativ Inc.
 
Common Stock
 
**
 
2,264

 
 
 
Black Knight Inc.
 
Common Stock
 
**
 
6,708

 
 
 
Bruker Corp
 
Common Stock
 
**
 
10,737

 
 
 
Burlington Stores Inc.
 
Common Stock
 
**
 
6,271

 
 
 
Bwx Technologies Inc.
 
Common Stock
 
**
 
3,376

 
 
 
Carmax Inc.
 
Common Stock
 
**
 
7,051

 
 
 
Casey's General Stores Inc.
 
Common Stock
 
**
 
6,042

 
 
 
Catalent Inc.
 
Common Stock
 
**
 
8,335

 
 
 
Cboe Global Markets Inc.
 
Common Stock
 
**
 
12,577


10

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Cdk Global Inc.
 
Common Stock
 
**
 
5,557

 
 
 
Centennial Resource Development - A
 
Common Stock
 
**
 
2,593

 
 
 
Centennial Resource Development Inc.
 
Common Stock
 
**
 
633

 
 
 
Coherent Inc.
 
Common Stock
 
**
 
4,231

 
 
 
Colfax Corp
 
Common Stock
 
**
 
6,339

 
 
 
Conagra Brands Inc.
 
Common Stock
 
**
 
4,443

 
 
 
Concho Resources Inc.
 
Common Stock
 
**
 
7,657

 
 
 
Cooper Cos Inc./The
 
Common Stock
 
**
 
14,809

 
 
 
Corelogic Inc.
 
Common Stock
 
**
 
7,990

 
 
 
Corning Inc.
 
Common Stock
 
**
 
1,087

 
 
 
Costar Group Inc.
 
Common Stock
 
**
 
5,164

 
 
 
Csra Inc.
 
Common Stock
 
**
 
6,310

 
 
 
Dentsply Sirona Inc.
 
Common Stock
 
**
 
6,185

 
 
 
Dexcom Inc.
 
Common Stock
 
**
 
3,384

 
 
 
Dollar General Corp
 
Common Stock
 
**
 
17,384

 
 
 
Dunkin' Brands Group Inc.
 
Common Stock
 
**
 
5,671

 
 
 
Electronic Arts Inc.
 
Common Stock
 
**
 
6,826

 
 
 
Envision Healthcare Corp
 
Common Stock
 
**
 
8,118

 
 
 
Equifax Inc.
 
Common Stock
 
**
 
6,011

 
 
 
Expedia Inc.
 
Common Stock
 
**
 
5,028

 
 
 
Ferrari Nv
 
Common Stock
 
**
 
3,668

 
 
 
Fidelity National Info Serv
 
Common Stock
 
**
 
5,643

 
 
 
Fifth Third Bancorp
 
Common Stock
 
**
 
5,246

 
 
 
Fiserv Inc.
 
Common Stock
 
**
 
17,825

 
 
 
Fleetcor Technologies Inc.
 
Common Stock
 
**
 
6,732

 
 
 
FNF Group
 
Common Stock
 
**
 
14,629

 
 
 
Fortive Corp
 
Common Stock
 
**
 
9,184

 
 
 
Franco-Nevada Corp
 
Common Stock
 
**
 
5,434

 
 
 
Gardner Denver Holdings Inc.
 
Common Stock
 
**
 
3,866

 
 
 
Gartner Inc.
 
Common Stock
 
**
 
4,185

 
 
 
Global Payments Inc.
 
Common Stock
 
**
 
11,121

 
 
 
Guidewire Software Inc.
 
Common Stock
 
**
 
3,117

 
 
 
Harris Corp
 
Common Stock
 
**
 
14,441

 
 
 
Hd Supply Holdings Inc.
 
Common Stock
 
**
 
8,162

 
 
 
Henry Schein Inc.
 
Common Stock
 
**
 
5,937

 
 
 
Hologic Inc.
 
Common Stock
 
**
 
17,348

 
 
 
Hunt (Jb) Transprt Svcs Inc.
 
Common Stock
 
**
 
2,758

 
 
 
Iac/Interactivecorp
 
Common Stock
 
**
 
8,311

 
 
 
Idex Corp
 
Common Stock
 
**
 
16,396

 
 
 
Idexx Laboratories Inc.
 
Common Stock
 
**
 
1,876

 
 
 
IHS Markit Ltd
 
Common Stock
 
**
 
6,814

 
 
 
Illumina Inc.
 
Common Stock
 
**
 
5,460

 
 
 
Incyte Corp
 
Common Stock
 
**
 
3,589

 
 
 
Intuitive Surgical Inc.
 
Common Stock
 
**
 
2,553

 
 
 
Iqvia Holdings Inc.
 
Common Stock
 
**
 
5,969

 
 
 
Kansas City Southern
 
Common Stock
 
**
 
6,310


11

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Kar Auction Services Inc.
 
Common Stock
 
**
 
6,866

 
 
 
Keysight Technologies Inc.
 
Common Stock
 
**
 
14,179

 
 
 
Kla-Tencor Corp
 
Common Stock
 
**
 
2,625

 
 
 
L Brands Inc.
 
Common Stock
 
**
 
2,528

 
 
 
Marketaxess Holdings Inc.
 
Common Stock
 
**
 
3,008

 
 
 
Marriott International -Cl A
 
Common Stock
 
**
 
15,059

 
 
 
Martin Marietta Materials
 
Common Stock
 
**
 
5,523

 
 
 
Marvell Technology Group Ltd
 
Common Stock
 
**
 
7,811

 
 
 
Match Group Inc.
 
Common Stock
 
**
 
2,848

 
 
 
Maxar Technologies Ltd
 
Common Stock
 
**
 
6,229

 
 
 
Mednax Inc.
 
Common Stock
 
**
 
7,264

 
 
 
Mgm Resorts International
 
Common Stock
 
**
 
8,143

 
 
 
Michaels Cos Inc./The
 
Common Stock
 
**
 
4,086

 
 
 
Microchip Technology Inc.
 
Common Stock
 
**
 
17,919

 
 
 
Microsemi Corp
 
Common Stock
 
**
 
3,046

 
 
 
MSCI Inc.
 
Common Stock
 
**
 
4,300

 
 
 
National Instruments Corp
 
Common Stock
 
**
 
2,871

 
 
 
Norwegian Cruise Line Holdings
 
Common Stock
 
**
 
15,435

 
 
 
O'Reilly Automotive Inc.
 
Common Stock
 
**
 
8,174

 
 
 
Progressive Corp
 
Common Stock
 
**
 
14,298

 
 
 
PVH Corp
 
Common Stock
 
**
 
4,251

 
 
 
Red Hat Inc.
 
Common Stock
 
**
 
12,244

 
 
 
Rockwell Collins Inc.
 
Common Stock
 
**
 
2,304

 
 
 
Roper Technologies Inc.
 
Common Stock
 
**
 
17,603

 
 
 
Royal Caribbean Cruises Ltd
 
Common Stock
 
**
 
4,054

 
 
 
Rpm International Inc.
 
Common Stock
 
**
 
7,126

 
 
 
Sage Therapeutics Inc.
 
Common Stock
 
**
 
165

 
 
 
Seattle Genetics Inc.
 
Common Stock
 
**
 
2,246

 
 
 
Sensata Technologies Holding
 
Common Stock
 
**
 
16,347

 
 
 
Servicemaster Global Holding
 
Common Stock
 
**
 
4,527

 
 
 
Servicenow Inc.
 
Common Stock
 
**
 
2,216

 
 
 
Shopify Inc - Class A
 
Common Stock
 
**
 
2,019

 
 
 
SLM Corp
 
Common Stock
 
**
 
3,637

 
 
 
Splunk Inc.
 
Common Stock
 
**
 
6,293

 
 
 
Sprouts Farmers Market Inc.
 
Common Stock
 
**
 
5,014

 
 
 
Ss&C Technologies Holdings
 
Common Stock
 
**
 
5,503

 
 
 
Symantec Corporation
 
Common Stock
 
**
 
5,693

 
 
 
Tableau Software Inc.-Cl A
 
Common Stock
 
**
 
4,219

 
 
 
Tapestry Inc.
 
Common Stock
 
**
 
17,197

 
 
 
Td Ameritrade Holding Corp
 
Common Stock
 
**
 
14,412

 
 
 
Teleflex Inc.
 
Common Stock
 
**
 
23,378

 
 
 
Tesaro Inc.
 
Common Stock
 
**
 
994

 
 
 
Textron Inc.
 
Common Stock
 
**
 
22,851

 
 
 
Transunion
 
Common Stock
 
**
 
7,746

 
 
 
Treehouse Foods Inc.
 
Common Stock
 
**
 
5,833

 
 
 
Tripadvisor Inc.
 
Common Stock
 
**
 
2,618


12

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Ulta Beauty Inc.
 
Common Stock
 
**
 
4,024

 
 
 
United Continental Holdings
 
Common Stock
 
**
 
5,794

 
 
 
Vail Resorts Inc.
 
Common Stock
 
**
 
6,159

 
 
 
Valvoline Inc.
 
Common Stock
 
**
 
9,343

 
 
 
Vantiv Inc. - Cl A
 
Common Stock
 
**
 
12,497

 
 
 
Veeva Systems Inc.-Class A
 
Common Stock
 
**
 
2,321

 
 
 
Venture Global Lng, Inc., Series C
 
Common Stock
 
**
 
961

 
 
 
Verisign Inc.
 
Common Stock
 
**
 
5,834

 
 
 
Verisk Analytics Inc.
 
Common Stock
 
**
 
10,075

 
 
 
Vertex Pharmaceuticals Inc.
 
Common Stock
 
**
 
3,894

 
 
 
Waste Connections Inc.
 
Common Stock
 
**
 
10,707

 
 
 
We Work Companies Class A
 
Common Stock
 
**
 
563

 
 
 
Webster Financial Corp
 
Common Stock
 
**
 
3,031

 
 
 
West Pharmaceutical Services
 
Common Stock
 
**
 
5,030

 
 
 
Willis Towers Watson Plc
 
Common Stock
 
**
 
15,363

 
 
 
Workday Inc.-Class A
 
Common Stock
 
**
 
8,034

 
 
 
Xilinx Inc.
 
Common Stock
 
**
 
10,243

 
 
 
Xylem Inc.
 
Common Stock
 
**
 
8,794

 
 
 
Zillow Group Inc. - A
 
Common Stock
 
**
 
692

 
 
 
Zillow Group Inc. - C
 
Common Stock
 
**
 
695

 
 
 
Zoetis Inc.
 
Common Stock
 
**
 
6,120

 
 
 
* T. Rowe Price Tre Res Fund
 
Money Market Security
 
**
 
21,311

 
 
 
Roofoods Limited (Deliveroo)
 
Mutual Fund
 
**
 
1,350

 
 
 
Collective Us Govt Stif 5 Bps
 
Bond
 
**
 
2,115

 
 
Large Cap Value Portfolio:
 
 
 
 
 
 
 
 
 
Abbott Laboratories
 
Common Stock
 
**
 
1,701

 
 
 
Aetna Inc.
 
Common Stock
 
**
 
4,778

 
 
 
Agilent Technologies Inc.
 
Common Stock
 
**
 
1,766

 
 
 
American Airlines Group I
 
Common Stock
 
**
 
2,285

 
 
 
American Electric Power
 
Common Stock
 
**
 
2,961

 
 
 
American International Group
 
Common Stock
 
**
 
1,680

 
 
 
Ameriprise Financial Inc.
 
Common Stock
 
**
 
369

 
 
 
Andeavor
 
Common Stock
 
**
 
1,367

 
 
 
Anthem Inc.
 
Common Stock
 
**
 
2,651

 
 
 
Apple Inc.
 
Common Stock
 
**
 
1,106

 
 
 
Applied Materials Inc.
 
Common Stock
 
**
 
955

 
 
 
Atmos Energy Corp
 
Common Stock
 
**
 
555

 
 
 
Ball Corp
 
Common Stock
 
**
 
1,269

 
 
 
Bank Of New York Mellon Corp
 
Common Stock
 
**
 
2,402

 
 
 
Becton Dickinson And Co
 
Common Stock
 
**
 
3,095

 
 
 
Biogen Inc.
 
Common Stock
 
**
 
587

 
 
 
Boeing Co/The
 
Common Stock
 
**
 
3,409

 
 
 
Boston Scientific Corp
 
Common Stock
 
**
 
352

 
 
 
Cf Industries Holdings Inc.
 
Common Stock
 
**
 
1,424

 
 
 
CSX Corp
 
Common Stock
 
**
 
286


13

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
CVS Health Corp
 
Common Stock
 
**
 
1,348

 
 
 
Canadian Natural Resources
 
Common Stock
 
**
 
668

 
 
 
Charter Communications Inc.-A
 
Common Stock
 
**
 
863

 
 
 
Chevron Corp
 
Common Stock
 
**
 
2,459

 
 
 
Cisco Systems Inc.
 
Common Stock
 
**
 
2,191

 
 
 
Citigroup Inc.
 
Common Stock
 
**
 
5,370

 
 
 
Comcast Corp-Class A
 
Common Stock
 
**
 
660

 
 
 
Cooper Cos Inc./The
 
Common Stock
 
**
 
958

 
 
 
Crown Castle Intl Corp
 
Common Stock
 
**
 
2,019

 
 
 
Dte Energy Company
 
Common Stock
 
**
 
1,477

 
 
 
Danaher Corp
 
Common Stock
 
**
 
2,374

 
 
 
Delta Air Lines Inc.
 
Common Stock
 
**
 
2,536

 
 
 
Devon Energy Corp
 
Common Stock
 
**
 
393

 
 
 
Dowdupont Inc.
 
Common Stock
 
**
 
2,550

 
 
 
Eog Resources Inc.
 
Common Stock
 
**
 
3,480

 
 
 
Eastman Chemical Co
 
Common Stock
 
**
 
—

 
 
 
Encana Corp
 
Common Stock
 
**
 
185

 
 
 
Entergy Corp
 
Common Stock
 
**
 
895

 
 
 
Eversource Energy
 
Common Stock
 
**
 
2,021

 
 
 
Exelon Corp
 
Common Stock
 
**
 
650

 
 
 
Express Scripts Holding Co
 
Common Stock
 
**
 
537

 
 
 
Fifth Third Bancorp
 
Common Stock
 
**
 
2,369

 
 
 
Fortune Brands Home & Securities
 
Common Stock
 
**
 
1,067

 
 
 
Gilead Sciences Inc.
 
Common Stock
 
**
 
1,461

 
 
 
Hca Healthcare Inc.
 
Common Stock
 
**
 
619

 
 
 
Harris Corp
 
Common Stock
 
**
 
1,720

 
 
 
Hologic Inc.
 
Common Stock
 
**
 
1,517

 
 
 
Honeywell International Inc.
 
Common Stock
 
**
 
2,774

 
 
 
Intercontinental Exchange Inc.
 
Common Stock
 
**
 
2,038

 
 
 
International Paper Co
 
Common Stock
 
**
 
2,895

 
 
 
Jpmorgan Chase & Co
 
Common Stock
 
**
 
12,788

 
 
 
Johnson & Johnson
 
Common Stock
 
**
 
2,178

 
 
 
Keycorp
 
Common Stock
 
**
 
2,657

 
 
 
Keysight Technologies Inc.
 
Common Stock
 
**
 
1,376

 
 
 
L Brands Inc.
 
Common Stock
 
**
 
1,026

 
 
 
Lennar Corp-A
 
Common Stock
 
**
 
1,502

 
 
 
Magna International Inc.
 
Common Stock
 
**
 
1,885

 
 
 
Marathon Petroleum Corp
 
Common Stock
 
**
 
1,924

 
 
 
Marsh & McLennan Cos
 
Common Stock
 
**
 
2,316

 
 
 
Merck & Co. Inc.
 
Common Stock
 
**
 
5,213

 
 
 
Metlife Inc.
 
Common Stock
 
**
 
845

 
 
 
Microsoft Corp
 
Common Stock
 
**
 
10,944

 
 
 
Morgan Stanley
 
Common Stock
 
**
 
4,346

 
 
 
Nextera Energy Inc.
 
Common Stock
 
**
 
3,201

 
 
 
Nisource Inc.
 
Common Stock
 
**
 
849

 
 
 
Noble Energy Inc.
 
Common Stock
 
**
 
882


14

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Occidental Petroleum Corp
 
Common Stock
 
**
 
2,183

 
 
 
P G & E Corp
 
Common Stock
 
**
 
1,137

 
 
 
PNC Financial Services Group
 
Common Stock
 
**
 
3,185

 
 
 
PPG Industries Inc.
 
Common Stock
 
**
 
146

 
 
 
Pepsico Inc.
 
Common Stock
 
**
 
—

 
 
 
Pfizer Inc.
 
Common Stock
 
**
 
3,435

 
 
 
Philip Morris International
 
Common Stock
 
**
 
5,271

 
 
 
Priceline Group Inc./The
 
Common Stock
 
**
 
851

 
 
 
Qualcomm Inc.
 
Common Stock
 
**
 
3,436

 
 
 
Roper Technologies Inc.
 
Common Stock
 
**
 
1,485

 
 
 
Sempra Energy
 
Common Stock
 
**
 
2,116

 
 
 
Southern Co/The
 
Common Stock
 
**
 
2,624

 
 
 
Stanley Black & Decker Inc.
 
Common Stock
 
**
 
2,222

 
 
 
State Street Corp
 
Common Stock
 
**
 
2,055

 
 
 
Steel Dynamics Inc.
 
Common Stock
 
**
 
208

 
 
 
Stericycle Inc.
 
Common Stock
 
**
 
960

 
 
 
Stryker Corp
 
Common Stock
 
**
 
2,188

 
 
 
Symantec Corporation
 
Common Stock
 
**
 
2,068

 
 
 
Synopsys Inc.
 
Common Stock
 
**
 
1,923

 
 
 
Synchrony Financial
 
Common Stock
 
**
 
1,569

 
 
 
Texas Instruments Inc.
 
Common Stock
 
**
 
699

 
 
 
Thermo Fisher Scientific Inc.
 
Common Stock
 
**
 
1,229

 
 
 
Total Sa-Spon Adr
 
Common Stock
 
**
 
2,133

 
 
 
Transcanada Corp
 
Common Stock
 
**
 
4,325

 
 
 
Twenty-First Century Fox - B
 
Common Stock
 
**
 
2,230

 
 
 
Tyson Foods Inc.-Cl A
 
Common Stock
 
**
 
11,492

 
 
 
US Bancorp
 
Common Stock
 
**
 
2,254

 
 
 
United Parcel Service-Cl B
 
Common Stock
 
**
 
2,483

 
 
 
United Technologies Corp
 
Common Stock
 
**
 
1,076

 
 
 
Verizon Communications Inc.
 
Common Stock
 
**
 
4,883

 
 
 
Voya Financial Inc.
 
Common Stock
 
**
 
712

 
 
 
Vulcan Materials Co
 
Common Stock
 
**
 
74

 
 
 
Wal-Mart Stores Inc.
 
Common Stock
 
**
 
4,599

 
 
 
Wells Fargo & Co
 
Common Stock
 
**
 
7,735

 
 
 
Westar Energy Inc.
 
Common Stock
 
**
 
1,852

 
 
 
Weyerhaeuser Co
 
Common Stock
 
**
 
1,054

 
 
 
Bunge Ltd
 
Common Stock
 
**
 
974

 
 
 
Johnson Controls International
 
Common Stock
 
**
 
2,786

 
 
 
Medtronic Plc
 
Common Stock
 
**
 
3,517

 
 
 
Norwegian Cruise Line Holdings
 
Common Stock
 
**
 
1,727

 
 
 
Willis Towers Watson Plc
 
Common Stock
 
**
 
1,205

 
 
 
Perrigo Co Plc
 
Common Stock
 
**
 
1,120

 
 
 
Xl Group Ltd
 
Common Stock
 
**
 
1,895

 
 
 
Chubb Ltd
 
Common Stock
 
**
 
4,338

 
 
 
Te Connectivity Ltd
 
Common Stock
 
**
 
897

 
 
 
Broadcom Ltd
 
Common Stock
 
**
 
3,488


15

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
British American Tobacco Plc
 
Foreign Stock
 
**
 
1,311

 
 
 
Glaxosmithkline Plc
 
Foreign Stock
 
**
 
327

 
 
 
Muenchener Rueckver Ag-Reg
 
Foreign Stock
 
**
 
1,145

 
 
 
Becton Dickinson And Co
 
Preferred Stock
 
**
 
542

 
 
 
Nextera Energy Inc.
 
Preferred Stock
 
**
 
952

 
 
 
Us Govt Stif 5 Bps
 
Money Market Securities
 
**
 
2,403

 
 
 
* T. Rowe Price Gov Res Fund
 
Mutual Funds
 
**
 
2

 
 
Small-Cap Core Portfolio:
 
 
 
 
 
 
 
 
 
2U Inc.
 
Common Stock
 
**
 
1,132

 
 
 
Aaon Inc.
 
Common Stock
 
**
 
758

 
 
 
Acadia Healthcare Co Inc.
 
Common Stock
 
**
 
1,073

 
 
 
Acadia Realty Trust
 
Common Stock
 
**
 
789

 
 
 
Acceleron Pharma Inc.
 
Common Stock
 
**
 
809

 
 
 
Advantage Oil & Gas Ltd
 
Common Stock
 
**
 
475

 
 
 
Aerojet Rocketdyne Holdings
 
Common Stock
 
**
 
1,103

 
 
 
Aimmune Therapeutics Inc.
 
Common Stock
 
**
 
241

 
 
 
Alamo Group Inc.
 
Common Stock
 
**
 
946

 
 
 
Alexander & Baldwin Inc.
 
Common Stock
 
**
 
1,029

 
 
 
Alkermes Plc
 
Common Stock
 
**
 
1,065

 
 
 
Ambarella Inc.
 
Common Stock
 
**
 
369

 
 
 
American Campus Communities
 
Common Stock
 
**
 
1,474

 
 
 
American Public Education
 
Common Stock
 
**
 
583

 
 
 
Aquinox Pharmaceuticals Inc.
 
Common Stock
 
**
 
125

 
 
 
Argenx Se - Adr
 
Common Stock
 
**
 
206

 
 
 
Assured Guaranty Ltd
 
Common Stock
 
**
 
1,700

 
 
 
Atlantic Capital Bancshares
 
Common Stock
 
**
 
802

 
 
 
Axovant Sciences Ltd
 
Common Stock
 
**
 
75

 
 
 
Azz Inc.
 
Common Stock
 
**
 
1,810

 
 
 
Bank Of N.T. Butterfield&Son
 
Common Stock
 
**
 
833

 
 
 
Bankunited Inc.
 
Common Stock
 
**
 
3,709

 
 
 
Barnes Group Inc.
 
Common Stock
 
**
 
2,348

 
 
 
Beneficial Bancorp Inc.
 
Common Stock
 
**
 
1,344

 
 
 
Blue Hills Bancorp Inc.
 
Common Stock
 
**
 
806

 
 
 
Blueprint Medicines Corp
 
Common Stock
 
**
 
1,213

 
 
 
Booz Allen Hamilton Holdings
 
Common Stock
 
**
 
2,537

 
 
 
Boston Beer Company Inc. -A
 
Common Stock
 
**
 
1,925

 
 
 
Bridge Bancorp Inc.
 
Common Stock
 
**
 
1,414

 
 
 
Bright Horizons Family Solutions
 
Common Stock
 
**
 
816

 
 
 
Brink's Co/The
 
Common Stock
 
**
 
2,481

 
 
 
Bruker Corp
 
Common Stock
 
**
 
1,871

 
 
 
Burlington Stores Inc.
 
Common Stock
 
**
 
2,479

 
 
 
BWX Technologies Inc.
 
Common Stock
 
**
 
3,319

 
 
 
Cable One Inc.
 
Common Stock
 
**
 
2,480

 
 
 
California Water Service Grp
 
Common Stock
 
**
 
2,027

 
 
 
Cal-Maine Foods Inc.
 
Common Stock
 
**
 
3,287

 
 
 
Capitol Federal Financial Inc.
 
Common Stock
 
**
 
1,100


16

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Cardtronics Plc - A
 
Common Stock
 
**
 
1,332

 
 
 
Cargurus Inc.
 
Common Stock
 
**
 
475

 
 
 
Cargurus Inc. Class A
 
Common Stock
 
**
 
1,710

 
 
 
Catalent Inc.
 
Common Stock
 
**
 
2,045

 
 
 
Cboe Global Markets Inc.
 
Common Stock
 
**
 
3,643

 
 
 
Centene Corp
 
Common Stock
 
**
 
2,788

 
 
 
Centennial Resource Development-A
 
Common Stock
 
**
 
937

 
 
 
Centennial Resource Development Inc.
 
Common Stock
 
**
 
144

 
 
 
Chart Industries Inc.
 
Common Stock
 
**
 
3,258

 
 
 
Chegg Inc.
 
Common Stock
 
**
 
2,578

 
 
 
Chesapeake Utilities Corp
 
Common Stock
 
**
 
1,410

 
 
 
Chuy's Holdings Inc.
 
Common Stock
 
**
 
593

 
 
 
Clifton Bancorp Inc.
 
Common Stock
 
**
 
415

 
 
 
Colliers International Group
 
Common Stock
 
**
 
1,156

 
 
 
Columbia Banking System Inc.
 
Common Stock
 
**
 
695

 
 
 
Commercial Metals Co
 
Common Stock
 
**
 
804

 
 
 
Compass Minerals International
 
Common Stock
 
**
 
663

 
 
 
Computer Modelling Group Ltd
 
Common Stock
 
**
 
567

 
 
 
Core-Mark Holding Co Inc.
 
Common Stock
 
**
 
1,265

 
 
 
Coupa Software Inc.
 
Common Stock
 
**
 
942

 
 
 
Crew Energy Inc.
 
Common Stock
 
**
 
708

 
 
 
Cross Country Healthcare Inc.
 
Common Stock
 
**
 
652

 
 
 
CSRA Inc.
 
Common Stock
 
**
 
1,934

 
 
 
CSW Industrials Inc.
 
Common Stock
 
**
 
541

 
 
 
CTS Corp
 
Common Stock
 
**
 
858

 
 
 
Cyberark Software Ltd/Israel
 
Common Stock
 
**
 
1,371

 
 
 
Denny's Corp
 
Common Stock
 
**
 
2,165

 
 
 
Dermira Inc.
 
Common Stock
 
**
 
369

 
 
 
Descartes Systems Grp/The
 
Common Stock
 
**
 
2,663

 
 
 
Diamondback Energy Inc.
 
Common Stock
 
**
 
1,839

 
 
 
DLP Payments Holdings Ltd
 
Common Stock
 
**
 
531

 
 
 
Dorian LPG Ltd
 
Common Stock
 
**
 
40

 
 
 
Dril-Quip Inc.
 
Common Stock
 
**
 
833

 
 
 
DST Systems Inc.
 
Common Stock
 
**
 
1,486

 
 
 
Dunkin' Brands Group Inc.
 
Common Stock
 
**
 
2,161

 
 
 
Eastgroup Properties Inc.
 
Common Stock
 
**
 
2,495

 
 
 
Edgewell Personal Care Co
 
Common Stock
 
**
 
1,564

 
 
 
Ellie Mae Inc.
 
Common Stock
 
**
 
1,792

 
 
 
Encore Capital Group Inc.
 
Common Stock
 
**
 
1,411

 
 
 
Enstar Group Ltd
 
Common Stock
 
**
 
1,121

 
 
 
Entegris Inc.
 
Common Stock
 
**
 
969

 
 
 
Equity Commonwealth
 
Common Stock
 
**
 
1,631

 
 
 
Esco Technologies Inc.
 
Common Stock
 
**
 
2,768

 
 
 
Essent Group Ltd
 
Common Stock
 
**
 
684

 
 
 
Etsy Inc.
 
Common Stock
 
**
 
481

 
 
 
Exelixis Inc.
 
Common Stock
 
**
 
1,256


17

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Farmers Business Network
 
Common Stock
 
**
 
555

 
 
 
Fb Financial Corp
 
Common Stock
 
**
 
1,726

 
 
 
Fiesta Restaurant Group
 
Common Stock
 
**
 
899

 
 
 
Finisar Corporation
 
Common Stock
 
**
 
684

 
 
 
First Hawaiian Inc.
 
Common Stock
 
**
 
1,151

 
 
 
Firstservice Corp
 
Common Stock
 
**
 
2,567

 
 
 
Five Below
 
Common Stock
 
**
 
1,343

 
 
 
Five9 Inc.
 
Common Stock
 
**
 
2,373

 
 
 
Floor & Decor Holdings Inc.-A
 
Common Stock
 
**
 
203

 
 
 
Franco-Nevada Corp
 
Common Stock
 
**
 
932

 
 
 
Frank's International Nv
 
Common Stock
 
**
 
472

 
 
 
GCP Applied Technologies
 
Common Stock
 
**
 
388

 
 
 
Gentherm Inc.
 
Common Stock
 
**
 
2,066

 
 
 
Gibraltar Industries Inc.
 
Common Stock
 
**
 
1,990

 
 
 
Global Blood Therapeutics Inc.
 
Common Stock
 
**
 
511

 
 
 
GMS Inc.
 
Common Stock
 
**
 
1,751

 
 
 
Graco Inc.
 
Common Stock
 
**
 
1,651

 
 
 
Grubhub Inc.
 
Common Stock
 
**
 
2,428

 
 
 
GTT Communications Inc.
 
Common Stock
 
**
 
693

 
 
 
Guaranty Bancorp
 
Common Stock
 
**
 
954

 
 
 
Guidewire Software Inc.
 
Common Stock
 
**
 
3,378

 
 
 
Halyard Health Inc.
 
Common Stock
 
**
 
1,290

 
 
 
Hannon Armstrong Sustainable
 
Common Stock
 
**
 
770

 
 
 
Hanover Insurance Group Inc.
 
Common Stock
 
**
 
2,458

 
 
 
Haynes International Inc.
 
Common Stock
 
**
 
1,113

 
 
 
Healthcare Services Group
 
Common Stock
 
**
 
689

 
 
 
Heritage Commerce Corp
 
Common Stock
 
**
 
938

 
 
 
Heritage Financial Corp
 
Common Stock
 
**
 
962

 
 
 
Heritage-Crystal Clean Inc.
 
Common Stock
 
**
 
341

 
 
 
HMS Holdings Corp
 
Common Stock
 
**
 
1,578

 
 
 
Home Bancshares Inc.
 
Common Stock
 
**
 
1,774

 
 
 
Hope Bancorp Inc.
 
Common Stock
 
**
 
1,045

 
 
 
Independent Bank Group Inc.
 
Common Stock
 
**
 
404

 
 
 
Infinity Property & Casualty
 
Common Stock
 
**
 
2,020

 
 
 
Inphi Corp
 
Common Stock
 
**
 
478

 
 
 
Insmed Inc.
 
Common Stock
 
**
 
1,960

 
 
 
Integrated Device Tech Inc.
 
Common Stock
 
**
 
685

 
 
 
Investors Bancorp Inc.
 
Common Stock
 
**
 
1,386

 
 
 
Ironwood Pharmaceuticals Inc.
 
Common Stock
 
**
 
1,624

 
 
 
Jack In The Box Inc.
 
Common Stock
 
**
 
1,478

 
 
 
Jagged Peak Energy Inc.
 
Common Stock
 
**
 
836

 
 
 
John Bean Technologies Corp
 
Common Stock
 
**
 
4,674

 
 
 
K2M Group Holdings Inc.
 
Common Stock
 
**
 
2,169

 
 
 
Kmg Chemicals Inc.
 
Common Stock
 
**
 
929

 
 
 
Knight-Swift Transportation
 
Common Stock
 
**
 
794

 
 
 
Kosmos Energy Ltd
 
Common Stock
 
**
 
219


18

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Lancaster Colony Corp
 
Common Stock
 
**
 
541

 
 
 
Landstar System Inc.
 
Common Stock
 
**
 
1,464

 
 
 
Lattice Semiconductor Corp
 
Common Stock
 
**
 
772

 
 
 
Lennox International Inc.
 
Common Stock
 
**
 
1,911

 
 
 
Lifepoint Health Inc.
 
Common Stock
 
**
 
874

 
 
 
Littelfuse Inc.
 
Common Stock
 
**
 
395

 
 
 
Live Oak Bancshares Inc.
 
Common Stock
 
**
 
995

 
 
 
Louisiana-Pacific Corp
 
Common Stock
 
**
 
1,001

 
 
 
Loxo Oncology Inc.
 
Common Stock
 
**
 
302

 
 
 
Lumber Liquidators Holdings
 
Common Stock
 
**
 
395

 
 
 
Lumentum Holdings Inc.
 
Common Stock
 
**
 
2,600

 
 
 
Luxfer Holdings Plc
 
Common Stock
 
**
 
753

 
 
 
Macom Technology Solutions
 
Common Stock
 
**
 
562

 
 
 
Martin Marietta Materials
 
Common Stock
 
**
 
517

 
 
 
Matador Resources Co
 
Common Stock
 
**
 
1,224

 
 
 
Matson Inc.
 
Common Stock
 
**
 
1,515

 
 
 
Meridian Bancorp Inc.
 
Common Stock
 
**
 
1,344

 
 
 
Michaels Cos Inc./The
 
Common Stock
 
**
 
1,918

 
 
 
Microsemi Corp
 
Common Stock
 
**
 
1,991

 
 
 
Middlesex Water Co
 
Common Stock
 
**
 
27

 
 
 
Minerals Technologies Inc.
 
Common Stock
 
**
 
1,463

 
 
 
MKS Instruments Inc.
 
Common Stock
 
**
 
726

 
 
 
Molina Healthcare Inc.
 
Common Stock
 
**
 
2,754

 
 
 
Mongodb Inc.
 
Common Stock
 
**
 
353

 
 
 
Monro Inc.
 
Common Stock
 
**
 
2,255

 
 
 
Moog Inc.-Class A
 
Common Stock
 
**
 
1,915

 
 
 
MSA Safety Inc.
 
Common Stock
 
**
 
1,237

 
 
 
Mueller Water Products Inc.-A
 
Common Stock
 
**
 
1,360

 
 
 
Mulesoft Inc. -A
 
Common Stock
 
**
 
608

 
 
 
Multi-Color Corp
 
Common Stock
 
**
 
348

 
 
 
Myokardia Inc.
 
Common Stock
 
**
 
340

 
 
 
National Commerce Corp
 
Common Stock
 
**
 
251

 
 
 
National Instruments Corp
 
Common Stock
 
**
 
2,717

 
 
 
National Vision Holdings Inc.
 
Common Stock
 
**
 
384

 
 
 
NCS Multistage Holdings Inc.
 
Common Stock
 
**
 
103

 
 
 
Nextera Energy Partners Lp
 
Common Stock
 
**
 
1,049

 
 
 
Northern Star Resources Ltd
 
Common Stock
 
**
 
621

 
 
 
Novanta Inc.
 
Common Stock
 
**
 
3,782

 
 
 
Okta Inc.
 
Common Stock
 
**
 
386

 
 
 
Ollie's Bargain Outlet Holdings
 
Common Stock
 
**
 
1,785

 
 
 
One Gas Inc.
 
Common Stock
 
**
 
4,115

 
 
 
Orion Engineered Carbons SA
 
Common Stock
 
**
 
1,030

 
 
 
Osisko Gold Royalties Ltd
 
Common Stock
 
**
 
998

 
 
 
Outfront Media Inc.
 
Common Stock
 
**
 
440

 
 
 
Pacific Premier Bancorp Inc.
 
Common Stock
 
**
 
1,237

 
 
 
Pacira Pharmaceuticals Inc.
 
Common Stock
 
**
 
1,471


19

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Paramount Group Inc.
 
Common Stock
 
**
 
1,347

 
 
 
Paylocity Holding Corp
 
Common Stock
 
**
 
169

 
 
 
Pdf Solutions Inc.
 
Common Stock
 
**
 
879

 
 
 
Pennymac Financial Service-A
 
Common Stock
 
**
 
497

 
 
 
Penumbra Inc.
 
Common Stock
 
**
 
272

 
 
 
Performance Food Group Co
 
Common Stock
 
**
 
1,516

 
 
 
PGT Innovations Inc.
 
Common Stock
 
**
 
1,320

 
 
 
Pinnacle Financial Partners
 
Common Stock
 
**
 
1,940

 
 
 
Pinnacle Foods Inc.
 
Common Stock
 
**
 
2,676

 
 
 
PNM Resources Inc.
 
Common Stock
 
**
 
2,736

 
 
 
Polyone Corporation
 
Common Stock
 
**
 
1,328

 
 
 
Popular Inc.
 
Common Stock
 
**
 
1,197

 
 
 
Portland General Electric Co
 
Common Stock
 
**
 
450

 
 
 
Post Holdings Inc.
 
Common Stock
 
**
 
2,071

 
 
 
PRA Group Inc.
 
Common Stock
 
**
 
2,222

 
 
 
Proofpoint Inc.
 
Common Stock
 
**
 
3,021

 
 
 
Prosperity Bancshares Inc.
 
Common Stock
 
**
 
1,999

 
 
 
Prothena Corp Plc
 
Common Stock
 
**
 
1,573

 
 
 
PS Business Parks Inc./Ca
 
Common Stock
 
**
 
3,230

 
 
 
Quanex Building Products
 
Common Stock
 
**
 
1,149

 
 
 
Quotient Technology Inc.
 
Common Stock
 
**
 
564

 
 
 
Radian Group Inc.
 
Common Stock
 
**
 
1,807

 
 
 
Radius Health Inc.
 
Common Stock
 
**
 
1,838

 
 
 
Rambus Inc.
 
Common Stock
 
**
 
581

 
 
 
RBC Bearings Inc.
 
Common Stock
 
**
 
1,589

 
 
 
Re/Max Holdings Inc.-Cl A
 
Common Stock
 
**
 
881

 
 
 
Red Robin Gourmet Burgers
 
Common Stock
 
**
 
1,690

 
 
 
Regency Centers Corp
 
Common Stock
 
**
 
1,185

 
 
 
Retail Opportunity Investment
 
Common Stock
 
**
 
1,530

 
 
 
Rev Group Inc.
 
Common Stock
 
**
 
1,031

 
 
 
Rh
 
Common Stock
 
**
 
936

 
 
 
Ringcentral Inc.-Class A
 
Common Stock
 
**
 
1,098

 
 
 
Roofoods Limited (Deliveroo)
 
Common Stock
 
**
 
775

 
 
 
Rush Enterprises Inc.-Cl A
 
Common Stock
 
**
 
1,090

 
 
 
Safety Insurance Group Inc.
 
Common Stock
 
**
 
1,036

 
 
 
Sage Therapeutics Inc.
 
Common Stock
 
**
 
4,688

 
 
 
Saia Inc.
 
Common Stock
 
**
 
1,419

 
 
 
Santander Consumer USA Holdings
 
Common Stock
 
**
 
994

 
 
 
Schneider National Inc.-Cl B
 
Common Stock
 
**
 
1,120

 
 
 
Seacoast Banking Corp/Fl
 
Common Stock
 
**
 
1,960

 
 
 
Seacor Holdings Inc.
 
Common Stock
 
**
 
1,045

 
 
 
Seattle Genetics Inc.
 
Common Stock
 
**
 
854

 
 
 
Selective Insurance Group
 
Common Stock
 
**
 
3,273

 
 
 
Semtech Corp
 
Common Stock
 
**
 
942

 
 
 
Simmons First Natl Corp-Cl A
 
Common Stock
 
**
 
1,162

 
 
 
Simply Good Foods Co/The
 
Common Stock
 
**
 
1,167


20

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Simply Good Foods Co-Cw22
 
Common Stock
 
**
 
64

 
 
 
Simpson Manufacturing Co Inc.
 
Common Stock
 
**
 
596

 
 
 
Siteone Landscape Supply Inc.
 
Common Stock
 
**
 
3,367

 
 
 
SLM Corp
 
Common Stock
 
**
 
2,670

 
 
 
Sonic Corp
 
Common Stock
 
**
 
2,967

 
 
 
South Jersey Industries
 
Common Stock
 
**
 
741

 
 
 
South State Corp
 
Common Stock
 
**
 
1,149

 
 
 
Southwest Gas Holdings Inc.
 
Common Stock
 
**
 
2,071

 
 
 
Spark Therapeutics Inc.
 
Common Stock
 
**
 
1,246

 
 
 
SS&C Technologies Holdings
 
Common Stock
 
**
 
4,757

 
 
 
State Auto Financial Corp
 
Common Stock
 
**
 
959

 
 
 
Steris Plc
 
Common Stock
 
**
 
2,155

 
 
 
Sterling Bancorp Inc./Mi
 
Common Stock
 
**
 
386

 
 
 
Sun Hydraulics Corp
 
Common Stock
 
**
 
419

 
 
 
Tableau Software Inc.-Cl A
 
Common Stock
 
**
 
2,006

 
 
 
Team Inc.
 
Common Stock
 
**
 
348

 
 
 
Teledyne Technologies Inc.
 
Common Stock
 
**
 
4,807

 
 
 
Tempur Sealy International Inc.
 
Common Stock
 
**
 
3,340

 
 
 
Tesaro Inc.
 
Common Stock
 
**
 
1,052

 
 
 
Texas Capital Bancshares Inc.
 
Common Stock
 
**
 
1,561

 
 
 
TherapeuticsMD Inc.
 
Common Stock
 
**
 
1,123

 
 
 
Thermon Group Holdings Inc.
 
Common Stock
 
**
 
1,195

 
 
 
Toro Co
 
Common Stock
 
**
 
2,024

 
 
 
Towne Bank
 
Common Stock
 
**
 
1,433

 
 
 
Treehouse Foods Inc.
 
Common Stock
 
**
 
1,470

 
 
 
Tri Pointe Group Inc.
 
Common Stock
 
**
 
2,465

 
 
 
Tristate Capital Holdings Inc.
 
Common Stock
 
**
 
578

 
 
 
Triumph Group Inc.
 
Common Stock
 
**
 
775

 
 
 
Tucows Inc.-Class A
 
Common Stock
 
**
 
692

 
 
 
Tuesday Morning Corp
 
Common Stock
 
**
 
415

 
 
 
U.S. Physical Therapy Inc.
 
Common Stock
 
**
 
1,390

 
 
 
Ultragenyx Pharmaceutical Inc.
 
Common Stock
 
**
 
56

 
 
 
Univest Corp Of Pennsylvania
 
Common Stock
 
**
 
1,051

 
 
 
Validus Holdings Ltd
 
Common Stock
 
**
 
1,128

 
 
 
Valmont Industries
 
Common Stock
 
**
 
2,327

 
 
 
Venture Global Lng, Inc., Series C
 
Common Stock
 
**
 
737

 
 
 
Vroom Inc. Cvt Ser Pfd
 
Common Stock
 
**
 
352

 
 
 
Waste Connections Inc.
 
Common Stock
 
**
 
2,916

 
 
 
Wave Life Sciences Ltd
 
Common Stock
 
**
 
711

 
 
 
Webster Financial Corp
 
Common Stock
 
**
 
1,634

 
 
 
Welbilt Inc.
 
Common Stock
 
**
 
1,419

 
 
 
Wellcare Health Plans Inc.
 
Common Stock
 
**
 
1,926

 
 
 
Western Alliance Bancorp
 
Common Stock
 
**
 
2,926

 
 
 
Wingstop Inc.
 
Common Stock
 
**
 
2,353

 
 
 
Wix.com Ltd
 
Common Stock
 
**
 
1,537

 
 
 
Wright Medical Group Nv
 
Common Stock
 
**
 
1,646


21

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
WSFS Financial Corp
 
Common Stock
 
**
 
831

 
 
 
Xencor Inc.
 
Common Stock
 
**
 
669

 
 
 
Zendesk Inc.
 
Common Stock
 
**
 
500

 
 
 
Zillow Group Inc. - A
 
Common Stock
 
**
 
114

 
 
 
Zillow Group Inc. - C
 
Common Stock
 
**
 
196

 
 
 
Zumiez Inc.
 
Common Stock
 
**
 
725

 
 
 
Zynga Inc. - Cl A
 
Common Stock
 
**
 
1,556

 
 
 
US Govt STIF 5 Bps
 
Money Market Securities
 
**
 
2,218

 
 
 
* T. Rowe Price Tre Res Fund
 
Mutual Funds
 
**
 
2,661

 
 
International Equity Portfolio:
 
 
 
 
 
 
 
 
 
 
 
Federated Gov Obli Fund
 
Money Market Securities
 
**
 
7,154

 
 
 
AAC Technologies H-Unsponsored
 
Common Stock
 
**
 
2,117

 
 
 
ABB Ltd-Sponsored Adr
 
Common Stock
 
**
 
2,656

 
 
 
Adecco Group Ag-Reg-Unsponsored
 
Common Stock
 
**
 
2,809

 
 
 
Aflac Inc.
 
Common Stock
 
**
 
2,627

 
 
 
Air Liquide-Unsponsored Adr
 
Common Stock
 
**
 
2,393

 
 
 
Allianz Se-Sponsored Adr
 
Common Stock
 
**
 
2,812

 
 
 
Astellas Pharma Inc.-Unsponsored
 
Common Stock
 
**
 
2,684

 
 
 
Axa -Sponsored Adr
 
Common Stock
 
**
 
2,809

 
 
 
Banco Bilbao Vizcaya-Sp A
 
Common Stock
 
**
 
2,321

 
 
 
Bancolombia S.A.-Sponsored Adr
 
Common Stock
 
**
 
3,014

 
 
 
BASF Se-Sponsored Adr
 
Common Stock
 
**
 
2,773

 
 
 
BHP Billiton Ltd-Sponsored Adr
 
Common Stock
 
**
 
2,460

 
 
 
BNP Paribas-Adr
 
Common Stock
 
**
 
2,481

 
 
 
British American Tobacco Plc Adr
 
Common Stock
 
**
 
2,490

 
 
 
Coca-Cola Hbc Ag-Unsponsored Adr
 
Common Stock
 
**
 
2,243

 
 
 
Compass Group Plc-Sponsored Adr
 
Common Stock
 
**
 
2,319

 
 
 
Continental Ag-Sponsored Adr
 
Common Stock
 
**
 
3,108

 
 
 
Credicorp Ltd
 
Common Stock
 
**
 
2,770

 
 
 
CSL Ltd-Sponsored Adr
 
Common Stock
 
**
 
2,366

 
 
 
Dassault Systemes S-Sponsored Adr
 
Common Stock
 
**
 
1,457

 
 
 
Diageo Plc-Sponsored Adr
 
Common Stock
 
**
 
2,436

 
 
 
DNB Asa-Sponsored Adr
 
Common Stock
 
**
 
2,256

 
 
 
Enbridge Inc.
 
Common Stock
 
**
 
1,797

 
 
 
Essity Ab - Sponsored Adr
 
Common Stock
 
**
 
1,910

 
 
 
Fanuc Corp-Unsponsored Adr
 
Common Stock
 
**
 
1,882

 
 
 
Fresenius Se & Co-Sponsored Adr
 
Common Stock
 
**
 
1,949

 
 
 
Givaudan-Unsponsored Adr
 
Common Stock
 
**
 
2,356

 
 
 
Grupo Fin Banorte-Sponsored Adr
 
Common Stock
 
**
 
2,719

 
 
 
Henkel Kgaa-Sponsored Adr Pfd
 
Common Stock
 
**
 
2,160

 
 
 
Imperial Oil Ltd
 
Common Stock
 
**
 
2,112

 
 
 
JGC Corp-Unsponsored Adr
 
Common Stock
 
**
 
2,524

 
 
 
Komatsu Ltd -Sponsored Adr
 
Common Stock
 
**
 
2,270

 
 
 
Kubota Corp-Sponsored Adr
 
Common Stock
 
**
 
2,594

 
 
 
L'Oreal-Unsponsored Adr
 
Common Stock
 
**
 
2,028

 
 
 
Macquarie Group Ltd-Adr
 
Common Stock
 
**
 
2,480


22

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Mettler-Toledo International
 
Common Stock
 
**
 
2,303

 
 
 
MTN Group Ltd-Sponsored Adr
 
Common Stock
 
**
 
1,726

 
 
 
Muenchener Rueck-Unsponsored Adr
 
Common Stock
 
**
 
2,457

 
 
 
Nestle Sa-Sponsored Adr
 
Common Stock
 
**
 
2,023

 
 
 
Nitto Denko Corp-Unsponsored Adr
 
Common Stock
 
**
 
2,122

 
 
 
Novartis Ag-Sponsored Adr
 
Common Stock
 
**
 
1,736

 
 
 
Novo-Nordisk A/S-Sponsored Adr
 
Common Stock
 
**
 
2,555

 
 
 
NXP Semiconductors Nv
 
Common Stock
 
**
 
750

 
 
 
Orix - Sponsored Adr
 
Common Stock
 
**
 
2,849

 
 
 
Pandora A/S-Sponsored Adr
 
Common Stock
 
**
 
2,467

 
 
 
Prudential Plc-Adr
 
Common Stock
 
**
 
2,953

 
 
 
Reckitt Benckiser-Sponsored Adr
 
Common Stock
 
**
 
2,379

 
 
 
Roche Holdings Ltd-Sponsored Adr
 
Common Stock
 
**
 
2,366

 
 
 
Royal Dutch Shell-Sponsored Adr-B
 
Common Stock
 
**
 
2,517

 
 
 
Ryanair Holdings Plc-Sponsored Adr
 
Common Stock
 
**
 
2,323

 
 
 
Sandvik Ab-Sponsored Adr
 
Common Stock
 
**
 
2,466

 
 
 
Sap Se-Sponsored Adr
 
Common Stock
 
**
 
1,983

 
 
 
Siemens Ag-Sponsored Adr
 
Common Stock
 
**
 
2,690

 
 
 
Singapore Telecommunication-Adr
 
Common Stock
 
**
 
2,343

 
 
 
Skf Ab-Sponsored Adr
 
Common Stock
 
**
 
2,946

 
 
 
Subaru Corp-Unsponsored Adr
 
Common Stock
 
**
 
2,798

 
 
 
Sysmex Corp-Unsponsored Adr
 
Common Stock
 
**
 
2,162

 
 
 
Taiwan Semiconductor-Sponsored Adr
 
Common Stock
 
**
 
2,635

 
 
 
Tokyo Electron Ltd-Unsponsored Adr
 
Common Stock
 
**
 
2,584

 
 
 
Total Sa-Sponsored Adr
 
Common Stock
 
**
 
2,572

 
 
 
Volkswagen Ag-Sponsored Adr
 
Common Stock
 
**
 
3,442

 
 
 
Walmart De Mexico-Sponsored Adr
 
Common Stock
 
**
 
2,182

 
 
 
Woodside Petroleum-Sponsored Adr
 
Common Stock
 
**
 
2,196

 
 
 
WPP PLC-Sponsored Adr
 
Common Stock
 
**
 
2,142

 
 
Large Cap Growth Portfolio:
 
 
 
 
 
 
 
 
Activision Blizzard Inc.
 
Common Stock
 
**
 
14,156

 
 
 
Acuity Brands Inc.
 
Common Stock
 
**
 
5,825

 
 
 
Adobe Systems Inc.
 
Common Stock
 
**
 
11,181

 
 
 
Alexion Pharmaceuticals Inc.
 
Common Stock
 
**
 
12,814

 
 
 
Alibaba Group Holding-Sp
 
Common Stock
 
**
 
14,273

 
 
 
Amazon.com Inc.
 
Common Stock
 
**
 
17,865

 
 
 
Applied Materials Inc.
 
Common Stock
 
**
 
12,325

 
 
 
Bristol-Myers Squibb Co
 
Common Stock
 
**
 
12,510

 
 
 
Celgene Corp
 
Common Stock
 
**
 
11,233

 
 
 
Cognex Corp
 
Common Stock
 
**
 
7,382

 
 
 
Domino's Pizza Inc.
 
Common Stock
 
**
 
8,309

 
 
 
Edwards Lifesciences Corp
 
Common Stock
 
**
 
10,323

 
 
 
Facebook Inc.-A
 
Common Stock
 
**
 
14,952

 
 
 
First Republic Bank/Ca
 
Common Stock
 
**
 
8,901

 
 
 
Illumina Inc.
 
Common Stock
 
**
 
13,292

 
 
 
Intercontinental Exchange Inc.
 
Common Stock
 
**
 
7,653


23

Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
Mercadolibre Inc.
 
Common Stock
 
**
 
7,899

 
 
 
Monster Beverage Corp
 
Common Stock
 
**
 
11,075

 
 
 
New Oriental Education-Sponsored
 
Common Stock
 
**
 
10,096

 
 
 
Nike Inc. -Cl B
 
Common Stock
 
**
 
14,545

 
 
 
Nvidia Corp
 
Common Stock
 
**
 
14,223

 
 
 
Paypal Holdings Inc.
 
Common Stock
 
**
 
10,162

 
 
 
Pioneer Natural Resources Co
 
Common Stock
 
**
 
10,844

 
 
 
Priceline Group Inc./The
 
Common Stock
 
**
 
18,113

 
 
 
Salesforce.Com Inc.
 
Common Stock
 
**
 
12,742

 
 
 
Schwab (Charles) Corp
 
Common Stock
 
**
 
12,371

 
 
 
Servicenow Inc.
 
Common Stock
 
**
 
11,758

 
 
 
Shire Plc-Adr
 
Common Stock
 
**
 
7,218

 
 
 
Splunk Inc.
 
Common Stock
 
**
 
12,243

 
 
 
Starbucks Corp
 
Common Stock
 
**
 
11,876

 
 
 
TJX Companies Inc.
 
Common Stock
 
**
 
9,023

 
 
 
Ulta Beauty Inc.
 
Common Stock
 
**
 
11,390

 
 
 
Unitedhealth Group Inc.
 
Common Stock
 
**
 
8,573

 
 
 
Vertex Pharmaceuticals Inc.
 
Common Stock
 
**
 
13,970

 
 
 
Visa Inc.-Class A Shares
 
Common Stock
 
**
 
13,097

 
 
 
Dreyfus Treasury & Agency
 
Money Market Security
 
**
 
10,703

 
 
Total separately managed accounts
 
 
 
2,197,607

Fully Benefit-Responsive Contracts:
 
 
 
 
 
 
 
 
 
 
Capital Preservation Portfolio:
 
 
 
 
 
 
 
 
 
 
 
* T. Rowe Price Reserve Inv Fund
 
Mutual and Trust Fund
 
**
 
78,920

 
 
 
* T. Rowe Price Short Term Common:
 
 
 
 
 
 
 
 
 
    American General Life
 
Mutual and Trust Fund
 
**
 
54,022

 
 
 
    Mass Mutual SIC
 
Mutual and Trust Fund
 
**
 
24,013

 
 
 
    Prudential Building Block Trust
 
Mutual and Trust Fund
 
**
 
66,194

 
 
 
    State Street Building Block Trust
 
Mutual and Trust Fund
 
**
 
67,038

 
 
 
    Pacific Life Building Block Trust
 
Mutual and Trust Fund
 
**
 
64,920

 
 
 
    RBC Building Block Trust
 
Mutual and Trust Fund
 
**
 
61,925

 
 
 
    NY Life Bldg Block Trust
 
Mutual and Trust Fund
 
**
 
41,158

 
 
 
    Transamerica Building Block Trust
 
Mutual and Trust Fund
 
**
 
57,466

 
 
 
* T. Rowe Price Int Term Common:
 
 
 
 
 
 
 
 
 
    Mass Mutual SIC
 
Mutual and Trust Fund
 
**
 
20,614

 
 
 
    Prudential Building Block Trust
 
Mutual and Trust Fund
 
**
 
56,824

 
 
 
    State Street Building Block Trust
 
Mutual and Trust Fund
 
**
 
57,549

 
 
 
    Pacific Life Building Block Trust
 
Mutual and Trust Fund
 
**
 
55,730

 
 
 
    American General Life
 
Mutual and Trust Fund
 
**
 
46,374

 
 
 
    RBC Building Block Trust
 
Mutual and Trust Fund
 
**
 
53,159

 
 
 
    NY Life Bldg Block Trust
 
Mutual and Trust Fund
 
**
 
35,332

 
 
 
    Transamerica Building Block Trust
 
Mutual and Trust Fund
 
**
 
49,331

 
 
 
* T. Rowe Price Managed Bond:
 
 
 
 
 
 
 
 
 
    Mass Mutual SIC
 
Mutual and Trust Fund
 
**
 
5,788

 
 
 
    Prudential Building Block Trust
 
Mutual and Trust Fund
 
**
 
15,956

 
 
 
    State Street Building Block Trust
 
Mutual and Trust Fund
 
**
 
16,159


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Table of Contents
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2017
(in thousands)


(a) (b) Identity of issuer, borrower,
lessor, or similar party
 
(c) Description of investment
 
(d) Cost
 
(e) Current value
 
 
 
    Pacific Life Building Block Trust
 
Mutual and Trust Fund
 
**
 
15,649

 
 
 
    American General Life
 
Mutual and Trust Fund
 
**
 
13,022

 
 
 
    RBC Building Block Trust
 
Mutual and Trust Fund
 
**
 
14,927

 
 
 
    NY Life Bldg Block Trust
 
Mutual and Trust Fund
 
**
 
9,921

 
 
 
    Transamerica Building Block Trust
 
Mutual and Trust Fund
 
**
 
13,852

 
 
 
Metropolitan Life
 
Separate Account Contracts
 
**
 
184,790

 
 
 
Uninvested Cash
 
Cash
 
**
 
456

 
 
Total Fully Benefit-Responsive Contracts
 
 
 
1,181,089

 
* Costco Wholesale Corporation
 
Common stock
 
**
 
5,507,519

Total investments
 
 
 
13,999,215

 
 
 
 
 
 
 
 
 
* Participant loans
 
Interest rates of 4.25% to 11.50% maturing through December 2032
 
—
 
484,852

Total
 
 
 
$
14,484,067

_________________________
* Indicates a party-in-interest
** Information is not required as investments are participant directed


See accompanying report of independent registered public accounting firm.

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Table of Contents



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
COSTCO 401(k) RETIREMENT PLAN
 
 
 
 
June 22, 2018
 
By
/s/ PATRICK J. CALLANS
Date
 
 
Patrick Callans
Senior Vice President
Costco Wholesale Corporation

26