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Name | Symbol | Market | Type |
---|---|---|---|
AXA SA (QX) | USOTC:AXAHY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.35 | 0.96% | 36.72 | 36.71 | 36.73 | 36.74 | 36.48 | 36.48 | 53,066 | 17:36:15 |
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, 2016.
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
AXA EQUITABLE 401(k) PLAN
FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2016 AND 2015
AND FOR THE YEAR ENDED
DECEMBER 31, 2016
AND SUPPLEMENTAL SCHEDULE
AS OF DECEMBER 31, 2016
AND REPORT OF INDEPENDENT AUDITORS
AXA EQUITABLE 401(k) PLAN
Page(s) | ||||
1 | ||||
Financial Statements |
||||
Statements of Net Assets Available for Benefits as of December 31, 2016 and 2015 |
2 | |||
Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2016 |
3 | |||
4-18 | ||||
Supplemental Schedule: |
||||
Schedule H, Part IV, line 4i*Schedule of Assets (Held at End of Year) December 31, 2016 |
19-32 | |||
33 | ||||
Exhibit: |
||||
Consent of Independent Registered Public Accounting Firm |
* | Refers to item number in IRS Form 5500 (Annual Return/Report of Employee Benefit Plan) for the year ended December 31, 2016. |
All other schedules required by the Department of Labors 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.
Report of Independent Registered Public Accounting Firm
To the Administrator of
AXA Equitable 401(k) Plan
In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of AXA Equitable 40l(k) Plan (the Plan) at December 31, 2016 and 2015, and the changes in net assets available for benefits for the year ended December 31, 2016 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plans management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
The supplemental schedule of assets (held at end of year) as of December 31, 2016 has been subjected to audit procedures performed in conjunction with the audit of the Plans financial statements. The supplemental schedule is the responsibility of the Plans management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other 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 Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the schedule of assets (held at end of year) is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ PricewaterhouseCoopers LLP
New York, NY
June 27, 2017
1
AXA EQUITABLE 401(k) PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, | ||||||||
2016 | 2015 | |||||||
Assets |
||||||||
Investments, at fair value (Notes 3 and 4) |
$ | 1,359,752,371 | $ | 1,274,265,015 | ||||
Investments, in fully benefit-responsive Investment Contracts, at contract value (Note 5) |
512,482,818 | 499,592,382 | ||||||
|
|
|
|
|||||
Total Investments |
1,872,235,189 | 1,773,857,397 | ||||||
|
|
|
|
|||||
Receivables |
||||||||
Employer contributions |
6,693,205 | 18,455,007 | ||||||
Notes receivable from participants (Note 1) |
23,355,655 | 24,730,624 | ||||||
Other receivables |
180,452 | | ||||||
|
|
|
|
|||||
Total receivables |
30,229,312 | 43,185,631 | ||||||
|
|
|
|
|||||
Total assets |
1,902,464,501 | 1,817,043,028 | ||||||
|
|
|
|
|||||
Liabilities |
||||||||
Accrued expenses and other liabilities |
3,202,085 | 1,267,851 | ||||||
|
|
|
|
|||||
Total liabilities |
3,202,085 | 1,267,851 | ||||||
|
|
|
|
|||||
Net assets available for benefits |
$ | 1,899,262,416 | $ | 1,815,775,177 | ||||
|
|
|
|
See accompanying notes to the financial statements
2
AXA EQUITABLE 401(k) PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year Ended
December 31, 2016 |
||||
Additions |
||||
Investment income |
||||
Net appreciation in fair value of investments (Note 3) |
$ | 79,982,200 | ||
Interest |
9,605,224 | |||
Dividends |
29,755,679 | |||
|
|
|||
Total investment income |
119,343,103 | |||
Less investment expenses |
11,189 | |||
|
|
|||
Net investment income |
119,331,914 | |||
Interest income on notes receivable from participants |
1,068,586 | |||
Contributions |
||||
Participant |
67,896,683 | |||
Employer |
29,351,080 | |||
|
|
|||
Total contributions |
97,247,763 | |||
|
|
|||
Total additions |
217,648,263 | |||
|
|
|||
Deductions |
||||
Benefits paid to participants |
131,065,286 | |||
Administrative expenses, net of forfeitures |
3,095,738 | |||
|
|
|||
Total deductions |
134,161,024 | |||
|
|
|||
Net increase during the year |
83,487,239 | |||
Net assets available for benefits |
||||
Beginning of year |
1,815,775,177 | |||
|
|
|||
End of year |
$ | 1,899,262,416 | ||
|
|
See accompanying notes to the financial statements
3
AXA EQUITABLE 401(k) PLAN
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 directed trustee of the Plan and Fidelity serves as the legal custodian for the fixed income investments.
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 3% before-tax contribution rate (See Note 7), which is automatically invested in the target allocation fund closest to the individuals 65 th 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 ($18,000 for 2016 and 2015). The maximum after-tax contribution is $10,000 (prior to January 1, 2014, $25,000) or 20% of the participants annual eligible compensation (10% for Puerto Rican participants and up to $10,000 per Plan year), whichever is less, provided that the participants 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 2016 and 2015 ($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 $24,000 for 2016 and 2015 ($1,500 in 2016 and $19,500 in 2015 for Puerto Rican participants).
4
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
1. | DESCRIPTION OF THE PLAN (continued) |
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, 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.
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 2016, the Company made a performance based contribution of $6,693,205 in March 2017. For 2015, the Company made a performance based contribution of $18,455,007 in March 2016.
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 (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 participants eligible annual compensation up to the Social Security Wage Base ($118,500 in 2016) and of 5% of the eligible participants eligible annual compensation in excess of the Social Security Wage Base up to the IRS compensation limit of $265,000 in 2016, 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 participants 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 participants 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 designated by the Investment Committee, which is the target allocation fund closest to the individuals 65 th birthday.
5
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
1. | DESCRIPTION OF THE PLAN (continued) |
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 participants 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 2016, the Plan offered twelve target allocation funds through a group annuity contract, fifteen mutual funds, a Company stock fund, a self-directed brokerage window program and a fixed income fund as investment options for participants. Two of the core funds utilize a volatility management investment strategy (i.e., an asset management strategy that limits equity exposure during periods of high volatility to provide downside protection, but may also limit returns in an up-market). 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.
Participant Accounts
Each participants account is credited with the participants 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 fund. The benefit to which a participant is entitled is the benefit that can be provided from the participants vested account balance.
Notes Receivable from Participants
Active participants may borrow from their fund accounts, in $1 increments (prior to March 30, 2011 in $100 increments), 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 participants 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 ranged from 4.25% to 11% as of December 31, 2016 and 4.25% to 9.25% as of December 31, 2015. 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, 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).
6
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
1. | DESCRIPTION OF THE PLAN (continued) |
Payment of Benefits
Upon termination of service, including due to death, disability, or retirement, the normal form of benefit is a single sum cash payment (except for the MONY Life Retirement Plan for Field Underwriters (FURP) subaccounts), in which the normal form of benefit for single individuals is a straight life annuity and for married individuals (as recognized under state or foreign law based on the state or country of celebration) 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.
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.
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 $2,727,825 and $2,155,674 at December 31, 2016 and 2015, respectively. During 2016, $750,707 from the forfeiture account was used to pay for administrative expenses.
Plan Expenses and Administration
The Plan has an administrative agreement with Hewitt, 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 Plans behalf (see Note 6).
7
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
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.
Valuation of Investments and Income Recognition
The Plans investments are stated at fair value, except for fully benefit-responsive investment contracts which are reported at contract value. 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 Plans 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 because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the plan. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis. The fair value of the investments is monitored and fluctuations in value are recorded as an unrealized gain or loss, as necessary, depending on whether the value of the investments has increased or decreased. When an investment is sold the change in value from the date acquired is recognized as a realized gain or loss.
Payment of Benefits
Benefits are recorded when paid.
New Accounting Pronouncements
In May 2015, Financial Accounting Standard Board (FASB) issued Accounting Standards Update (ASU) 2015-07, Fair Value Measurement: Disclosure for Investments in Certain Entities that Calculate Net Asset Value per Share (or its Equivalent). This standard removed the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value (NAV) per share as a practical expedient. The Plan adopted this standard on January 1, 2016 on a retrospective basis, which requires the restatement of prior-period disclosures. The update did not have an impact on the Plans Notes to financial statements.
In July 2015, the FASB issued ASU 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient. Part I of this update requires fully benefit-responsive investment contracts to be measured, presented, and disclosed only at contract value. The amendments in Part II of this update, requires that investments (both participant-directed and nonparticipant-directed investments) be grouped only by general type, eliminating the need to disaggregate the investments by nature, characteristics and risks. In addition, certain other investment disclosures are eliminated. Part III is not applicable to the Plan. This update is effective for fiscal years beginning after December 15, 2015, the Plan adopted this standard on January 1, 2016 on a retrospective basis, which requires the restatement of prior period disclosures. The update did have an impact on the Plans Notes to financial statement.
8
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
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 entitys own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. |
The assets or liabilitys 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, 2016 and 2015.
Common stock
Common Stock valued based on the last sale price traded in an active market generally would be classified as Level 1. Securities with quoted prices in markets that were not active are considered Level 2.
Mutual funds, including target allocation 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.
Short-term investments
Short-term investments primarily consist of interest bearing cash in clearing account and self directed brokerage account.
9
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
3. | FAIR VALUE DISCLOSURES (continued) |
The methodologies used to measure the fair values of the Plans 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, 2016:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets |
||||||||||||||||
Common stock: |
$ | | $ | 70,034,131 | $ | | $ | 70,034,131 | ||||||||
Mutual funds: |
||||||||||||||||
Index |
87,731,760 | 440,672,101 | (1) | | 528,403,861 | |||||||||||
Balanced |
86,533,294 | | | 86,533,294 | ||||||||||||
Growth |
171,405,958 | 265,347,448 | (1) | | 436,753,406 | |||||||||||
Fixed income |
116,072,986 | 48,644,831 | (1) | | 164,717,817 | |||||||||||
Others |
47,196,479 | | | 47,196,479 | ||||||||||||
Short-term investments |
26,113,383 | | | 26,113,383 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
$ | 535,053,860 | $ | 824,698,511 | $ | | $ | 1,359,752,371 | ||||||||
|
|
|
|
|
|
|
|
(1) | Includes common collective trusts/commingled non-exchange traded. |
In 2016, 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
10
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
3. | FAIR VALUE DISCLOSURES (continued) |
Assets measured at fair value on a recurring basis as of December 31, 2015:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets |
||||||||||||||||
Common stock |
$ | | $ | 82,217,268 | $ | | $ | 82,217,268 | ||||||||
Mutual funds: |
||||||||||||||||
Index |
77,680,948 | 416,746,805 | (1) | | 494,427,753 | |||||||||||
Balanced |
76,220,931 | | | 76,220,931 | ||||||||||||
Growth |
185,119,230 | 224,137,758 | (1) | | 409,256,988 | |||||||||||
Fixed Income |
99,343,431 | 46,519,292 | (1) | | 145,862,723 | |||||||||||
Other |
45,248,476 | | | 45,248,476 | ||||||||||||
Short-term investments |
21,030,876 | | | 21,030,876 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
$ | 504,643,892 | $ | 796,621,123 | $ | | $ | 1,274,265,015 | ||||||||
|
|
|
|
|
|
|
|
(1) | Includes common collective trusts/commingled non-exchange traded. |
In 2015, mutual fund with fair value of $211,202,288 were transferred out of Level 1 and into Level 2 primarily due to change in pricing sources. 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. | NON-PARTICIPANT-DIRECTED INVESTMENTS |
Information about the net assets and the significant components of the changes in net assets relating to the non-participant-directed investments is as follows:
December 31, | ||||||||
2016 | 2015 | |||||||
Net assets |
||||||||
Common stock |
$ | 70,034,131 | $ | 82,217,268 | ||||
|
|
|
|
|||||
Changes in net assets |
||||||||
Net appreciation/(depreciation) |
(6,841,655 | ) | ||||||
Benefits paid to participants |
(1,661,255 | ) | ||||||
Net transfers from participant-directed investments |
(3,680,227 | ) | ||||||
|
|
|||||||
$ | (12,183,137 | ) | ||||||
|
|
11
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
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 Managers 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 issuers 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
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
5. | GUARANTEED INVESTMENT CONTRACTS (continued) |
The average yield for the Synthetic GICs based on actual earnings was 2.03% and 1.95% in 2016 and 2015, respectively. The average yield for Synthetic GIC based on the interest rate credited to participants was 1.84% and 1.82% in 2016 and 2015, 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 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 Plans 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 Funds 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 Plans 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
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
5. | GUARANTEED INVESTMENT CONTRACTS (continued) |
The Synthetic GICs are summarized as follows:
December 31, | ||||||||
2016 | 2015 | |||||||
Synthetic GICs at contract value |
||||||||
JP Morgan Chase, #AXA-2-07 |
$ | 110,499,359 | $ | 111,661,422 | ||||
State St Bk & Tr Co Boston, #107007 |
89,409,431 | 128,130,304 | ||||||
Prudential Ins Co America, #63048 |
109,312,459 | 77,273,197 | ||||||
American General Life, #931942 |
94,803,433 | 82,872,944 | ||||||
Bank Of Tokyo Mitsubishi |
108,458,136 | 99,654,515 | ||||||
|
|
|
|
|||||
Total Guaranteed Investment Contracts |
$ | 512,482,818 | $ | 499,592,382 | ||||
|
|
|
|
6. | RELATED-PARTY TRANSACTIONS |
Effective March 21, 2011, Hewitt is the record keeper and effective March 24, 2011 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 0.98, 0.69, 1.08, 0.87, and 0.85 for the funds, EQ/MFS International K, EQ/AllianceBernstein Small Cap Growth, EQ/GAMCO Small Company Value K, the AXA Large Cap Growth Managed Volatility and the AXA Large Cap Value Managed Volatility respectively. Administrative service fees paid by the Plan directly to AllianceBernstein L.P., Hewitt, Fidelity and Northern Trust were $413,809, $957,353, $218,291 and $57,444 respectively, during the year ended December 31, 2016.
The Plan incurred expenses in the amount of $1,624,807, including $186,328 and $441,959 of accrued expenses at December 31, 2016 and 2015, respectively, for administrative services paid by AXA Equitable on the Plans behalf.
The Plan also invests in common stock issued by AXA, S.A., the parent of AXA Equitable, which are evidenced by American Depository Receipts (ADRs). The AXA S.A. ADRs held by participants were valued at $70,034,131 and $82,217,268 at December 31, 2016 and 2015, respectively. During the year ended December 31, 2016, the Plan received sales proceeds totaling $1,656,244 of AXA, S.A ADRs. The Plan received $2,983,893 in dividend income during the year ended December 31, 2016 from AXA, S.A. ADRs held.
The Plan administrator and the Plans counsel believe that the Plans transactions with related parties are permitted by the U.S. Department of Labors prohibited transaction exemptions.
14
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
7. | FUNDING POLICY |
The following describes the terms of the annual discretionary performance based contribution: (i) the applicable performance goals and results will be determined each year by the applicable participating entity; (ii) subject to tax law limits, the percentage of any performance based contribution for a year will range from 0% up to 4%, as determined each year by the applicable participating entity in its sole discretion; (iii) to be eligible for any profit-sharing contribution for a year, a participant must be employed by AXA Equitable or any of its affiliates or subsidiaries on the last day of that year. However, if during that year, such participant: (a) retires directly from service for purposes of the AXA Equitable Retirement Plan or Retirement Income Security Plan for Employees, as applicable, (b) dies or becomes disabled while in service with AXA Equitable or any of its affiliates or subsidiaries or (c) has his or her job is eliminated by AXA Equitable or any of its affiliates or subsidiaries, such participants account will be credited with a profit-sharing contribution (if one is made) based on his or her eligible compensation from the applicable participating entity during that year prior to the date he or she retires, dies, becomes disabled or is job eliminated, as applicable. Any performance based contribution for a year will be made no later than March 15 of the following year. The Company made a 1% performance based contribution for the Plan year 2016 to eligible participants (other than AXA LM and AXA IM Participants). This contribution of $6,693,205 was made on March 9, 2017.
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 LM participants. Such payroll contributions will be equal to, each Plan year, 2.5% of the eligible participants eligible annual compensation up to the Social Security Wage Base ($118,500 in 2016) and of 5% of the eligible participants eligible annual compensation in excess of the Social Security Wage Base up to the IRS compensation limit ($265,000 in 2016); provided that such participant meets certain employment conditions.
AXA LM and AXA IM made matching contributions to their respective eligible participants and AXA LM made retirement program contributions to its eligible participants.
Participants are able to contribute up to 75% of their annual eligible compensation (see Note 1) on a combined 401(k) before-tax and Roth 401(k) contribution basis (Puerto Rican participants cannot make Roth 401(k) contributions). In addition participants may contribute up to 20% of their eligible compensation up to $10,000 (prior to January 1, 2014, $25,000) on an after-tax basis (Puerto Rican participants can only contribute up to 1,000 of their eligible compensation and up to $10,000 per year).
In addition, AXA Equitable will absorb Plan administration costs beyond the value of the forfeiture account. The Plan is not subject to ERISAs minimum funding requirements.
8. | 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, assets will be distributed to participants in accordance with the provisions of the Plan.
15
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
9. | PLAN AMENDMENTS |
The following represents the material amendments made to the Plan for the 2016 Plan year:
The Plan was amended effective June 13, 2016 to permit officers or officer equivalents of an affiliate to participate as members of the committee, affiliate appointed by Senior Executive Director and Chief Human Resource Officer to be responsible for reviewing investment guidelines, monitoring asset managers, selecting asset allocations and investment options for the Plan, and delegating such responsibility as if deemed appropriate.
10. | TAX STATUS |
The Internal Revenue Service has determined and informed AXA Equitable by a letter, March 14, 2014, that the Plan and related trust are designed in accordance with applicable sections of the Code. The Plan has been amended since receiving the determination letter. The Plan administrator and the Plans 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 Plans 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, 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements 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 2011.
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 recognizes accrued interest and penalties related to unrecognized tax benefits in tax expense. There were no interest and penalties included in the Plans financial statements.
16
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
11. | 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, 2016 and 2015, respectively:
December 31, | ||||||||
2016 | 2015 | |||||||
Net assets available for benefits per the financial statements |
$ | 1,899,262,416 | $ | 1,815,775,177 | ||||
Adjustment from contract value to fair value for fully benefit-responsive investment contracts held by the Interest Income Fund |
3,610,534 | 6,368,053 | ||||||
|
|
|
|
|||||
Net assets available for benefits per the Form 5500 |
$ | 1,902,872,950 | $ | 1,822,143,230 | ||||
|
|
|
|
The following is a reconciliation of investment loss per the financial statements to Form 5500 for the year ended December 31, 2016:
Net investment gain per the financial statements |
$ | 119,331,913 | ||
Add: Adjustment from fair value to contract value for fully benefit-responsive investment contracts |
(2,757,519 | ) | ||
|
|
|||
Investment gain per the Form 5500 |
$ | 116,574,394 | ||
|
|
12. | 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 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 AXAs 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. Malagolis 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.
17
AXA EQUITABLE 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
13. | 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.
18
AXA EQUITABLE 401(k) PLAN
EMPLOYER ID# 13-5570651, PLAN #005
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Asset-backed bonds |
||||||||||||
*** |
ALLYA 2015-1 A3 1.39% 09/19 |
09/16/2019, 1.39%, $731,000 | * | * | $ | 731,975 | ||||||
*** |
AMOT 2012-5 A 1.54% 09/19 |
09/15/2019, 1.54%, $438,000 | * | * | 438,923 | |||||||
*** |
AMOT 2015-3 A 1.63% 05/20 |
05/15/2020, 1.63%, $1,050,000 | * | * | 1,049,490 | |||||||
*** |
AMXCA 2014-3 A 1.49% 04/20 |
04/15/2020, 1.49%, $2,000,000 | * | * | 2,005,862 | |||||||
*** |
AMXCA 2014-4 A 1.43% 06/20 |
06/15/2020, 1.43%, $1,597,000 | * | * | 1,600,661 | |||||||
*** |
BACCT 2015-A2 A 1.36% 09/20 |
09/15/2020, 1.36%, $1,580,000 | * | * | 1,580,227 | |||||||
*** |
BMWOT 2016-A A3 1.41% 11/20 |
11/25/2020, 1.41%, $704,000 | * | * | 697,323 | |||||||
*** |
CARMX 16-4 A3 1.40% 08/21 |
08/15/2021, 1.40%, $895,000 | * | * | 885,967 | |||||||
*** |
CARMX 2014-3 A3 1.16% 06/19 |
06/17/2019, 1.16%, $399,192 | * | * | 399,204 | |||||||
*** |
CARMX 2014-4 A3 1.25% 11/19 |
11/15/2019, 1.25%, $611,228 | * | * | 611,361 | |||||||
*** |
CARMX 2015-1 A3 1.38% 11/19 |
11/15/2019, 1.38%, $495,229 | * | * | 495,707 | |||||||
*** |
CARMX 2015-3 A3 1.63% 05/20 |
05/15/2020, 1.63%, $499,000 | * | * | 500,658 | |||||||
*** |
CCCIT 2014-A6 A6 2.15% 07/21 |
07/15/2021, 2.15%, $2,063,000 | * | * | 2,099,623 | |||||||
*** |
CCCIT 2014-A8 A8 1.73% 04/20 |
04/09/2020, 1.73%, $1,100,000 | * | * | 1,108,550 | |||||||
*** |
CCCIT 2016-A1 A1 1.75% 11/21 |
11/19/2021, 1.75%, $1,306,000 | * | * | 1,301,707 | |||||||
*** |
CHAIT 15-A7 A7 1.62% 07/20 |
07/15/2020, 1.62%, $1,032,000 | * | * | 1,034,807 | |||||||
*** |
CHAIT 2014-A7 A7 1.38% 11/19 |
11/15/2019, 1.38%, $1,387,000 | * | * | 1,389,056 | |||||||
*** |
CHAIT 2015-A2 A2 1.59% 02/20 |
02/18/2020, 1.59%, $1,108,000 | * | * | 1,111,938 | |||||||
*** |
CHAIT 2015-A5 A5 1.36% 04/20 |
04/15/2020, 1.36%, $1,060,000 | * | * | 1,060,017 | |||||||
*** |
CHAIT 2016-A2 A 1.37% 06/21 |
06/15/2021, 1.37%, $1,294,000 | * | * | 1,282,309 | |||||||
*** |
CHAIT 2016-A5 A5 1.27% 07/21 |
07/15/2021, 1.27%, $1,330,000 | * | * | 1,313,015 | |||||||
*** |
COMET 2014-A2 A2 1.26% 01/20 |
01/15/2020, 1.26%, $1,120,000 | * | * | 1,121,249 | |||||||
*** |
COMET 2014-A5 A 1.48% 07/20 |
07/15/2020, 1.48%, $1,380,000 | * | * | 1,383,759 | |||||||
*** |
COMET 2015-A1 A 1.39% 01/21 |
01/15/2021, 1.39%, $1,060,000 | * | * | 1,060,159 | |||||||
*** |
COMET 2015-A5 A5 1.60% 05/21 |
05/17/2021, 1.60%, $1,000,000 | * | * | 1,003,468 | |||||||
*** |
COMET 2015-A7 A7 1.45% 08/21 |
08/16/2021, 1.45%, $342,000 | * | * | 341,506 | |||||||
*** |
COMET 2016-A3 A3 1.34% 04/22 |
04/15/2022, 1.34%, $1,330,000 | * | * | 1,316,073 | |||||||
*** |
COMET 2016-A4 A4 1.33% 06/22 |
06/15/2022, 1.40%, $1,053,000 | * | * | 1,039,531 | |||||||
*** |
DCENT 2012-A6 A6 1.67% 01/22 |
01/18/2022, 1.67%, $1,776,000 | * | * | 1,770,562 | |||||||
*** |
DCENT 2014-A4 A4 2.12% 12/21 |
12/15/2021, 2.12%, $1,084,000 | * | * | 1,092,294 | |||||||
*** |
DCENT 2014-A5 A 1.39% 04/20 |
04/15/2020, 1.39%, $1,110,000 | * | * | 1,112,332 | |||||||
*** |
DCENT 2015-A2 A 1.90% 10/22 |
10/17/2022, 1.90%, $1,000,000 | * | * | 996,604 | |||||||
*** |
DCENT 2016-A1 A1 1.64% 07/21 |
07/15/2021, 1.64%, $1,020,000 | * | * | 1,020,506 | |||||||
*** |
DCENT 2016-A4 A4 1.39% 03/22 |
03/15/2022, 1.39%, $1,060,000 | * | * | 1,048,556 | |||||||
*** |
FORD CRD 16-1 A 2.31% 08/27 |
08/15/2027, 2.31%, $1,395,000 | * | * | 1,393,724 | |||||||
*** |
FORDF 2015-4 A1 1.77% 08/20 |
08/15/2020, 1.77%, $1,000,000 | * | * | 1,002,250 | |||||||
*** |
FORDF 2016-1 A1 1.76% 02/21 |
02/15/2021, 1.76%, $981,000 | * | * | 979,216 | |||||||
*** |
FORDF 2016-3 A1 1.55% 07/21 |
07/15/2021, 1.55%, $998,000 | * | * | 988,399 | |||||||
*** |
FORDL 15-A A3 1.13% 06/18 |
06/15/2018, 1.13%, $1,237,459 | * | * | 1,238,225 | |||||||
*** |
FORDO 16-B A3 1.33% 10/20 |
10/15/2020, 1.33%, $746,000 | * | * | 743,988 | |||||||
*** |
FORDO 2015-C A3 1.41% 02/20 |
02/15/2020, 1.41%, $758,000 | * | * | 758,735 | |||||||
*** |
FORDO 2016-A A3 1.39% 07/20 |
07/15/2020, 1.39%, $1,011,000 | * | * | 1,011,187 | |||||||
*** |
FORDR 15-2 A 2.44% 01/27 |
01/15/2027, 2.44%, $544,000 | * | * | 549,370 | |||||||
*** |
FORDR 2014-2 A 2.31% 04/26 |
04/15/2026, 2.31%, $571,000 | * | * | 576,362 | |||||||
*** |
GFORT 16-1 A1 1.86% 05/21 |
05/17/2021, 1.86%, $780,000 | * | * | 778,152 |
19
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Asset-backed bonds (continued) |
||||||||||||
*** |
GMALT 2015-1 A3 1.53% 09/18 |
09/20/2018, 1.53%, $912,000 | * | * | $ | 913,659 | ||||||
*** |
GMALT 2015-2 A3 1.68% 12/18 |
12/20/2018, 1.68%, $776,000 | * | * | 778,501 | |||||||
*** |
HAROT 2015-4 A3 1.23% 09/19 |
09/23/2019, 1.23%, $688,000 | * | * | 686,556 | |||||||
*** |
HAROT 2016-2 A3 1.39% 04/20 |
04/15/2020, 1.39%, $433,000 | * | * | 432,596 | |||||||
*** |
HART 2015-B A3 1.12% 11/19 |
11/15/2019, 1.12%, $1,008,000 | * | * | 1,006,657 | |||||||
*** |
HART 2015-C A3 1.46% 02/20 |
02/18/2020, 1.46%, $745,000 | * | * | 745,790 | |||||||
*** |
HART 2016-A A3 1.56% 09/20 |
09/15/2020, 1.56%, $349,000 | * | * | 349,153 | |||||||
*** |
HART 2016-B A3 1.29% 04/21 |
04/15/2021, 1.29%, $1,052,000 | * | * | 1,044,127 | |||||||
*** |
HFMOT 2016-1A A2 1.81% 03/21 |
03/15/2021, 1.81%, $557,000 | * | * | 556,150 | |||||||
*** |
HUNT AUTO 16-1 A3 1.57% 11/20 |
11/16/2020, 1.59%, $523,000 | * | * | 522,298 | |||||||
*** |
MBALT 2015-B A3 1.34% 07/18 |
07/16/2018, 1.34%, $500,000 | * | * | 500,676 | |||||||
*** |
MBART 2016-1 A3 1.26% 02/21 |
02/16/2021, 1.26%, $1,008,000 | * | * | 1,000,422 | |||||||
*** |
NAROT 2015-C A3 1.37% 05/20 |
05/15/2020, 1.37%, $745,000 | * | * | 744,304 | |||||||
*** |
NAROT 2016-A A3 1.34% 10/20 |
10/15/2020, 1.34%, $568,000 | * | * | 566,632 | |||||||
*** |
NAROT 2016-B A3 1.32% 01/21 |
01/15/2021, 1.32%, $598,000 | * | * | 594,748 | |||||||
*** |
NAROT 2016-C A3 1.18% 01/21 |
01/15/2021, 1.18%, $944,000 | * | * | 935,642 | |||||||
*** |
NEF 2005-1 A5 1.49% 10/45 |
10/30/2045, 1.49%, $255,900 | * | * | 243,453 | |||||||
*** |
NMOTR 2016-A A2 1.54% 06/21 |
06/15/2021, 1.54%, $563,000 | * | * | 559,822 | |||||||
*** |
SSTRT 2016-1A A3 1.76% 03/20 |
03/25/2020, 1.76%, $582,000 | * | * | 578,775 | |||||||
*** |
SYNCT 2015-1 A 2.37% 03/23 |
03/15/2023, 2.37%, $1,035,000 | * | * | 1,045,424 | |||||||
*** |
SYNCT 2015-2 A 1.60% 04/21 |
04/15/2021, 1.60%, $1,050,000 | * | * | 1,051,633 | |||||||
*** |
TAOT 2015-C A3 1.34% 06/19 |
06/17/2019, 1.34%, $1,000,000 | * | * | 1,000,647 | |||||||
*** |
TAOT 2016-B A3 1.51% 04/20 |
04/15/2020, 1.51%, $470,000 | * | * | 468,809 | |||||||
*** |
TAOT 2016-C A3 1.14% 08/20 |
08/17/2020, 1.14%, $600,000 | * | * | 596,363 | |||||||
*** |
VALET 2013-2 A3 0.70% 04/18 |
04/20/2018, 0.70%, $151,552 | * | * | 151,439 | |||||||
*** |
VALET 2014-1 A3 0.91% 10/18/18 |
10/22/2018, 0.91%, $312,147 | * | * | 311,826 | |||||||
*** |
VZOT 2016-1A A 1.42% 01//20 |
01/20/2021, 1.42%, $937,000 | * | * | 930,885 | |||||||
*** |
VZOT 2016-2A A 1.68% 05/21 |
05/20/2021, 1.68%, $1,076,000 | * | * | 1,073,623 | |||||||
*** |
WOART 2014-B A3 1.14% 01/20 |
01/15/2020, 1.14%, $706,629 | * | * | 706,351 | |||||||
*** |
WOART 2016-A A3 1.77% 09/21 |
09/15/2021, 1.77%, $766,000 | * | * | 767,369 | |||||||
*** |
WOLS 2015-A A3 1.54% 10/18 |
10/15/2018, 1.54%, $780,000 | * | * | 781,261 | |||||||
|
|
|||||||||||
Total asset backed bonds |
68,670,178 | |||||||||||
|
|
|||||||||||
Commercial mortgage-backed bonds |
||||||||||||
*** |
BACM 2016-UB10 A2 2.61% 06/49 |
07/15/2049, 2.61%, $657,000 | * | * | 664,971 | |||||||
*** |
CD 2007-CD5 A1A 5.80% 11/44 |
11/15/2044, 5.80%, $619,485 | * | * | 634,697 | |||||||
*** |
CGCMT 13-GC11 A1 0.75% 04/46 |
04/10/2046, 0.75%, $87,361 | * | * | 87,221 | |||||||
*** |
CGCMT 2015-GC29 A2 2.67% 04/48 |
04/10/2048, 2.67%, $505,000 | * | * | 513,220 | |||||||
*** |
CGCMT 2016-P4 A2 2.45% 07/49 |
07/10/2049, 2.45%, $247,000 | * | * | 248,095 | |||||||
*** |
COMM 2007-C9 A4 CSTR 5.81% 12/49 |
12/10/2049, 5.81%, $419,278 | * | * | 424,767 | |||||||
*** |
COMM 2010-C1 A3 4.21% 07/46 |
07/10/2046, 4.21%, $1,826,000 | * | * | 1,942,587 | |||||||
*** |
COMM 2012-CR1 A2 2.35% 05/45 |
05/15/2045, 2.35%, $244,278 | * | * | 244,774 | |||||||
*** |
COMM 2012-CR3 ASB 2.37% 11/45 |
10/15/2045, 2.37%, $491,000 | * | * | 494,492 | |||||||
*** |
COMM 2012-LC4 A4 3.29% 12/44 |
12/10/2044, 3.29%, $340,000 | * | * | 354,066 |
20
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Commercial mortgage-backed bonds (continued) |
||||||||||||
*** |
COMM 2013-LC6 A1 0.72% 01/46 |
01/10/2046, 0.72%, $37,992 | * | * | $ | 37,968 | ||||||
*** |
COMM 2014-CR17 A2 3.01% 05/47 |
05/10/2047, 3.01%, $800,000 | * | * | 818,683 | |||||||
*** |
COMM 2014-CR18 A2 2.92% 07/47 |
07/15/2047, 2.92%, $620,000 | * | * | 634,706 | |||||||
*** |
COMM 2014-CR20 A2 2.80% 11/47 |
11/10/2047, 2.80%, $569,000 | * | * | 578,720 | |||||||
*** |
COMM 2015-CR22 A2 2.86% 03/48 |
03/10/2048, 2.86%, $362,000 | * | * | 369,567 | |||||||
*** |
CWCI 2007-C2 A3 5.484% 04/47 |
04/15/2047, 5.48%, $322,761 | * | * | 325,076 | |||||||
*** |
DBUBS 2011-LC2A A4 4.54% 07/44 |
07/10/2044, 4.54%, $907,000 | * | * | 980,752 | |||||||
*** |
FHR 2015-4472 WL 3.00% 05/45 |
05/15/2045, 3.00%, $965,632 | * | * | 991,821 | |||||||
*** |
FHR 2495 UJ 3.50 07/32 |
07/15/2032, 3.50%, $106 | * | * | 106 | |||||||
*** |
FHR 2794 JT 6.00 10/32 |
10/15/2032, 6.00%, $26,729 | * | * | 27,409 | |||||||
*** |
FHR 3741 HD 3.00% 11/39 |
11/15/2039, 3.00%, $224,978 | * | * | 227,766 | |||||||
*** |
FHR 3820 DA 4.00% 11/35 |
11/15/2035, 4.00%, $193,907 | * | * | 199,672 | |||||||
*** |
FHR 4046 LA 3.00% 11/26 |
11/15/2026, 3.00%, $1,208,607 | * | * | 1,231,302 | |||||||
*** |
FHR SER 4221 CLS GA 1.40% 07/23 |
07/15/2023, 1.40%, $707,669 | * | * | 698,560 | |||||||
*** |
FNR 2000-32 FM IML+450 1.19% 10/30 |
10/18/2030, 1.19%, $2,063 | * | * | 2,064 | |||||||
*** |
FNR 2000-34 F 1ML+45 1.21% 10/30 |
10/25/2030, 1.21%, $6,534 | * | * | 6,534 | |||||||
*** |
FNR 2012-94 E 3.00% 06/22 |
06/25/2022, 3.00%, $106,047 | * | * | 108,053 | |||||||
*** |
FNR 2013-16 GP 3.00% 03/33 |
03/25/2033, 3.00%, $1,974,416 | * | * | 2,032,392 | |||||||
*** |
FNR 2014-83 P 3.00% 06/43 |
06/25/2043, 3.00%, $1,068,859 | * | * | 1,091,937 | |||||||
*** |
FNR 2015-28 JE 3.00% 05/45 |
05/25/2045, 3.00%, $1,681,640 | * | * | 1,727,678 | |||||||
*** |
FNR 2015-28 P 2.50% 05/45 |
05/25/2045, 2.50%, $2,419,193 | * | * | 2,433,210 | |||||||
*** |
FNR 2015-32 PA 3.00% 04/44 |
04/25/2044, 3.00%, $856,473 | * | * | 871,245 | |||||||
*** |
FNR 2015-42 LE 3.00% 06/45 |
06/25/2045, 3.00%, $1,431,374 | * | * | 1,470,443 | |||||||
*** |
FNR 2015-49 LE 3.00% 07/45 |
07/25/2045, 3.00%, $1,016,194 | * | * | 1,043,073 | |||||||
*** |
FNR 2015-54 LE 2.50% 07/45 |
07/25/2045, 2.50%, $1,269,240 | * | * | 1,272,809 | |||||||
*** |
FNR 2016-100 P 3.50% 11/44 |
11/25/2044, 3.50%, $1,884,000 | * | * | 1,960,390 | |||||||
*** |
FNR 2016-105 PA 3.50% 04/45 |
04/25/2045, 3.50%, $1,209,000 | * | * | 1,259,805 | |||||||
*** |
FNR 2016-19 AH 3.00% 04/46 |
04/25/2046, 3.00%, $1,087,436 | * | * | 1,115,772 | |||||||
*** |
FNR 2016-26 CG 3.00% 05/46 |
05/25/2046, 3.00%, $2,679,174 | * | * | 2,746,817 | |||||||
*** |
FNR 2016-27 HK 3.00% 01/41 |
01/25/2041, 3.00%, $1,392,082 | * | * | 1,427,839 | |||||||
*** |
FNR 2016-27 KG 3.00% 01/40 |
01/25/2040, 3.00%, $730,022 | * | * | 748,413 | |||||||
*** |
FNR 2016-34 GH 3.00% 06/46 |
06/25/2046, 3.00%, $2,692,105 | * | * | 2,765,601 | |||||||
*** |
FNR 2016-37 BK 3.00% 06/46 |
06/25/2046, 3.00%, $2,799,641 | * | * | 2,873,766 | |||||||
*** |
FSPC T-59 1A3 7.50% 10/43 |
10/25/2043, 7.50%, $34,686 | * | * | 41,288 | |||||||
*** |
GNR 13-41 PA 2.50% 04/40 |
04/20/2040, 2.50%, $450,110 | * | * | 456,902 | |||||||
*** |
GNR 2000-35 F 1ML+55 1.26% 12/25 |
12/16/2025, 1.26%, $7,122 | * | * | 7,183 | |||||||
*** |
GSMS 14-GC18 AAB 3.65% 01/47 |
01/10/2047, 3.65%, $141,000 | * | * | 148,453 | |||||||
*** |
GSMS 14-GC20 AAB 3.66% 04/47 |
04/10/2047, 3.66%, $163,000 | * | * | 171,643 | |||||||
*** |
GSMS 2012-GCJ9 A3 2.77% 11/45 |
11/10/2045, 2.77%, $324,000 | * | * | 327,159 | |||||||
*** |
GSMS 2013-GC10 A2 1.84% 02/46 |
02/10/2046, 1.84%, $164,311 | * | * | 165,023 | |||||||
*** |
GSMS 2013-GC10 A5 2.94% 02/46 |
02/10/2046, 2.94%, $417,000 | * | * | 423,566 | |||||||
*** |
GSMS 2013-GC12 A1 VAR 0.74% 06/46 |
06/10/2046, 0.74%, $118,580 | * | * | 118,360 | |||||||
*** |
JPMBB 15-C29 A2 2.92% 05/48 |
05/15/2048, 2.92%, $522,000 | * | * | 535,174 | |||||||
*** |
JPMCC 16-JP4 A2 2.93% 12/49 |
12/15/2049, 2.93%, $613,000 | * | * | 629,250 | |||||||
*** |
JPMCC 2013-C10 0.73% 12/47 |
12/15/2047, 0.73%, $52,988 | * | * | 52,922 |
21
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Commercial mortgage-backed bonds (continued) |
||||||||||||
*** |
JPMCC 2015-JP1 A2 3.14% 01/49 |
01/15/2049, 3.14%, $577,000 | * | * | $ | 596,197 | ||||||
*** |
LBUBS 2007-C7 A3 5.87% 09/45 |
09/15/2045, 5.87%, $429,450 | * | * | 441,455 | |||||||
*** |
MSBAM 15-C22 ASB 3.04% 04/18 |
04/15/2048, 3.04%, $241,000 | * | * | 243,966 | |||||||
*** |
MSBAM 2012-C5 A2 1.97% 08/45 |
08/15/2045, 1.97%, $816,328 | * | * | 819,279 | |||||||
*** |
MSBAM 2012-C6 A4 2.86% 11/45 |
11/15/2045, 2.86%, $747,000 | * | * | 760,668 | |||||||
*** |
MSBAM 2014-C14 A2 2.92% 02/47 |
02/15/2047, 2.92%, $927,000 | * | * | 946,839 | |||||||
*** |
MSC 2007-IQ13 A1A 5.31% 03/44 |
03/15/2044, 5.31%, $132,820 | * | * | 133,571 | |||||||
*** |
MSC 2007-T27 A1A CSTR 5.64% 06/42 |
06/11/2042, 5.64%, $780,444 | * | * | 793,280 | |||||||
*** |
MSC 2011-C2 A4 4.66% 06/44 |
06/15/2044, 4.66%, $806,000 | * | * | 878,222 | |||||||
*** |
UBSBB 2012-C2 A4 3.53 05/63 |
05/10/2063, 3.53%, $541,000 | * | * | 567,652 | |||||||
*** |
UBSBB 2012-C4 A1 0 .67% 12/45 |
12/10/2045, 0.67%, $23,668 | * | * | 23,664 | |||||||
*** |
UBSBB 2013-C6 A1 0.80% 04/46 |
04/10/2046, 0.80%, $110,105 | * | * | 109,856 | |||||||
*** |
WBCMT 2006-C26 A1A CSTR 6.01% 06/45 |
06/15/2045, 6.01%, $70,220 | * | * | 70,439 | |||||||
*** |
WFCM 2012-LC5 ASB 2.53% 10/45 |
10/15/2045, 2.53%, $447,000 | * | * | 452,259 | |||||||
*** |
WFCM 2013-LC12 A1 1.68% 07/46 |
07/15/2046, 1.68%, $602,132 | * | * | 604,094 | |||||||
*** |
WFCM 2016-C34 A2 2.74% 06/49 |
06/15/2049, 2.74%, $260,000 | * | * | 262,661 | |||||||
*** |
WFCM 2016-C35 A2 2.50% 07/48 |
07/15/2048, 2.50%, $197,000 | * | * | 197,974 | |||||||
*** |
WFCM 2016-C37 A2 3.03% 12/49 |
12/15/2049, 3.03%, $431,000 | * | * | 444,738 | |||||||
*** |
WFCM 2016-LC25 1.80% 12/59 |
12/15/2059, 1.80%, $369,000 | * | * | 367,165 | |||||||
*** |
WFRBS 13-C12 ASB 2.84% 03/48 |
03/15/2048, 2.84%, $109,000 | * | * | 111,103 | |||||||
*** |
WFRBS 13-C14 A1 0.84% 06/46 |
06/15/2046, 0.84%, $35,407 | * | * | 35,395 | |||||||
*** |
WFRBS 13-C16 ASB 3.96% 09/46 |
09/15/2046, 3.96%, $232,000 | * | * | 246,868 | |||||||
*** |
WFRBS 2011-C3 A4 4.38% 03/44 |
03/15/2044, 4.38%, $702,000 | * | * | 755,403 | |||||||
*** |
WFRBS 2012-C8 A2 1.88% 08/45 |
08/15/2045, 1.88%, $274,351 | * | * | 275,236 | |||||||
*** |
WFRBS 2013-C13 A1 0.78% 05/45 |
05/15/2045, 0.78%, $75,179 | * | * | 75,011 | |||||||
*** |
WFRBS 2013-C14 A2 2.13% 06/46 |
06/15/2046, 2.13%, $230,000 | * | * | 231,688 | |||||||
|
|
|||||||||||
Total commercial mortgage-backed bonds |
53,210,445 | |||||||||||
|
|
|||||||||||
Corporate bonds |
||||||||||||
*** |
AB INBEV FIN |
02/01/2019, 2.15%, $1,120,000 | * | * | 1,136,560 | |||||||
*** |
ABBOTT LAB |
11/22/2019, 2.35%, $1,000,000 | * | * | 1,003,230 | |||||||
*** |
ABBVIE INC |
05/14/2018, 1.80%, $1,000,000 | * | * | 1,002,954 | |||||||
*** |
ABBVIE INC |
05/14/2020, 2.50%, $660,000 | * | * | 661,950 | |||||||
*** |
ACE INA HOLDING |
11/03/2020, 2.30%, $350,000 | * | * | 350,944 | |||||||
*** |
ACTAVIS FUNDING |
03/12/2018, 2.35%, $1,000,000 | * | * | 1,012,767 | |||||||
*** |
ACTAVIS FUNDING SCS |
03/12/2020, 3.00%, $457,000 | * | * | 467,260 | |||||||
*** |
AETNA INC |
06/15/2021, 2.40%, $658,000 | * | * | 655,135 | |||||||
*** |
AIG INTL GRP |
06/01/2022, 4.88%, $406,000 | * | * | 444,863 | |||||||
*** |
AMERICAN EXPRESS |
05/05/2021, 2.25%, $1,000,000 | * | * | 990,759 | |||||||
*** |
AMERICAN HONDA |
02/22/2019, 1.70%, $518,000 | * | * | 518,916 | |||||||
*** |
AMERICAN HONDA FIN |
09/09/2021, 1.70%, $763,000 | * | * | 739,675 | |||||||
*** |
AMERICAN INTL |
01/16/2018, 5.85%, $657,000 | * | * | 702,637 | |||||||
*** |
AMERICAN INTL GROUP |
07/16/2019, 2.30%, $1,264,000 | * | * | 1,282,755 | |||||||
*** |
AMERICAN INTL GRP |
03/01/2021, 3.30%, $267,000 | * | * | 276,198 |
22
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Corporate bonds (continued) |
||||||||||||
*** |
AMGEN INC |
05/01/2020, 2.13%, $571,000 | * | * | $ | 567,352 | ||||||
*** |
AMGEN INC |
05/22/2019, 2.20%, $450,000 | * | * | 454,434 | |||||||
*** |
ANHEUSER BUSCH |
08/01/2018, 2.20%, $570,000 | * | * | 578,979 | |||||||
*** |
ANHUESER-BUSCH |
02/01/2021, 2.65%, $1,000,000 | * | * | 1,015,630 | |||||||
*** |
ANHUESER-BUSCH IN |
02/01/2019, 1.90%, $1,280,000 | * | * | 1,291,685 | |||||||
*** |
ANHUESER-BUSCH IN |
02/01/2023, 3.30%, $1,000,000 | * | * | 1,030,439 | |||||||
*** |
APPLE INC |
05/06/2021, 2.85%, $830,000 | * | * | 852,326 | |||||||
*** |
AT&T INC |
06/30/2020, 2.45%, $970,000 | * | * | 962,624 | |||||||
*** |
AT&T INC |
02/17/2021, 2.80%, $500,000 | * | * | 500,830 | |||||||
*** |
AUST NZ BKG NY |
06/13/2019, 2.25%, $830,000 | * | * | 833,269 | |||||||
*** |
AVALONBAY COMM |
10/01/2020, 3.63%, $266,000 | * | * | 278,427 | |||||||
*** |
BAE SYSTEMS |
12/15/2020, 2.85%, $1,000,000 | * | * | 1,001,950 | |||||||
*** |
BANK AMER FDG |
04/21/2020, 2.25%, $750,000 | * | * | 748,406 | |||||||
*** |
BANK AMER FDG CRP |
01/15/2019, 2.60%, $1,795,000 | * | * | 1,831,228 | |||||||
*** |
BANK AMER NA |
06/05/2018, 1.75%, $1,000,000 | * | * | 1,001,069 | |||||||
*** |
BANK AMERICA CORP |
04/01/2019, 2.65%, $1,140,000 | * | * | 1,159,151 | |||||||
*** |
BANK NOVA SCOTIA |
07/21/2021, 2.80%, $830,000 | * | * | 845,850 | |||||||
*** |
BANK OF AMERICA |
04/19/2021, 2.63%, $1,000,000 | * | * | 997,532 | |||||||
*** |
BANK OF AMERICA CRP MTN |
01/11/2018, 2.00%, $750,000 | * | * | 758,756 | |||||||
*** |
BANK T-M UFJ |
02/26/2018, 1.65%, $580,000 | * | * | 581,978 | |||||||
*** |
BANK T-M UFJ |
09/08/2019, 2.35%, $550,000 | * | * | 553,544 | |||||||
*** |
BANK T-M UFJ |
09/09/2018, 2.70%, $570,000 | * | * | 580,470 | |||||||
*** |
BANK TOKYO-MSB |
03/05/2020, 2.30%, $530,000 | * | * | 527,705 | |||||||
*** |
BARCLAYS PLC |
11/08/2019, 2.75%, $466,000 | * | * | 466,656 | |||||||
*** |
BARCLAYS PLC |
06/08/2020, 2.88%, $520,000 | * | * | 516,563 | |||||||
*** |
BARCLAYS PLC |
01/12/2021, 3.25%, $579,000 | * | * | 588,398 | |||||||
*** |
BAT INTL FIN |
06/15/2020, 2.75%, $1,040,000 | * | * | 1,046,103 | |||||||
*** |
BAT INTL FIN |
06/15/2022, 3.50%, $780,000 | * | * | 799,819 | |||||||
*** |
BECTON DICKINSO |
12/15/2019, 2.68%, $145,000 | * | * | 147,217 | |||||||
*** |
BERKSHIRE HATH |
03/15/2021, 2.20%, $387,000 | * | * | 388,373 | |||||||
*** |
BNP PARIBA |
03/17/2019, 2.45%, $565,000 | * | * | 573,263 | |||||||
*** |
BP CAP MKTS PLC |
01/15/2020, 2.52%, $550,000 | * | * | 559,243 | |||||||
*** |
BP CAPITAL MKTS |
05/03/2019, 1.68%, $251,000 | * | * | 249,839 | |||||||
*** |
BPCE SA |
07/15/2019, 2.50%, $550,000 | * | * | 559,209 | |||||||
*** |
BRITISH TELECOM PLC |
02/14/2019, 2.35%, $679,000 | * | * | 688,783 | |||||||
*** |
CAN NATURAL RES |
11/15/2021, 3.45%, $648,000 | * | * | 664,662 | |||||||
*** |
CAPITAL ONE BK |
02/13/2019, 2.25%, $1,120,000 | * | * | 1,134,265 | |||||||
*** |
CAPITAL ONE BK |
08/17/2018, 2.35%, $750,000 | * | * | 760,744 | |||||||
*** |
CAPITAL ONE FIN |
04/24/2019, 2.45%, $460,000 | * | * | 464,833 | |||||||
*** |
CELGENE CORP |
08/15/2018, 2.13%, $473,000 | * | * | 478,614 | |||||||
*** |
CHEVRON CORP NEW |
03/03/2020, 1.96%, $500,000 | * | * | 501,576 | |||||||
*** |
CHEVRON PHIL |
05/01/2020, 2.45%, $482,000 | * | * | 480,364 | |||||||
*** |
CISCO SYSTEMS |
06/15/2020, 2.45%, $520,000 | * | * | 526,477 | |||||||
*** |
CISCO SYSTEMS INC |
03/01/2019, 2.13%, $1,120,000 | * | * | 1,142,429 | |||||||
*** |
CITIGROUP INC |
04/27/2018, 1.70%, $520,000 | * | * | 520,352 |
23
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Corporate bonds (continued) |
||||||||||||
*** |
CITIGROUP INC |
02/05/2018, 1.80%, $1,075,000 | * | * | $ | 1,082,527 | ||||||
*** |
CITIGROUP INC |
08/02/2021, 2.35%, $1,000,000 | * | * | 987,025 | |||||||
*** |
CITIGROUP INC |
07/29/2019, 2.50%, $550,000 | * | * | 559,332 | |||||||
*** |
CITIGROUP INC |
04/08/2019, 2.55%, $560,000 | * | * | 567,632 | |||||||
*** |
CITIGROUP INC |
06/10/2025, 4.40%, $785,000 | * | * | 804,082 | |||||||
*** |
CITIZENS BANK NA |
03/14/2019, 2.50%, $311,000 | * | * | 315,593 | |||||||
*** |
CITIZENS BANK NA |
05/13/2021, 2.55%, $1,000,000 | * | * | 996,391 | |||||||
*** |
CITIZENS BK MTN |
12/04/2019, 2.45%, $500,000 | * | * | 502,357 | |||||||
*** |
CITIZENS FINCL |
07/28/2021, 2.38%, $94,000 | * | * | 93,045 | |||||||
*** |
COMCAST CORP |
01/15/2022, 1.63%, $1,877,000 | * | * | 1,809,656 | |||||||
*** |
COMERICA INC |
05/23/2019, 2.13%, $336,000 | * | * | 336,125 | |||||||
*** |
COMMONWEALTH BK NY |
09/06/2019, 2.30%, $550,000 | * | * | 555,434 | |||||||
*** |
COMMONWEALTH NY |
03/13/2019, 2.25%, $1,110,000 | * | * | 1,121,343 | |||||||
*** |
COMMWLTH BK ASTL NYB |
03/12/2020, 2.30%, $1,050,000 | * | * | 1,051,316 | |||||||
*** |
COMWLTH EDISON |
01/15/2019, 2.15%, $219,000 | * | * | 221,913 | |||||||
*** |
CONOCOPHILLIP CO |
05/15/2020, 2.20%, $605,000 | * | * | 601,670 | |||||||
*** |
CONSOLIDATED EDISON |
05/15/2021, 2.00%, $384,000 | * | * | 375,942 | |||||||
*** |
CREDIT SUISSE GG |
04/16/2021, 3.45%, $1,000,000 | * | * | 1,012,457 | |||||||
*** |
CREDIT SUISSE NY |
04/27/2018, 1.70%, $1,000,000 | * | * | 1,000,676 | |||||||
*** |
CREDIT SUISSE NY |
05/28/2019, 2.30%, $1,110,000 | * | * | 1,114,773 | |||||||
*** |
CREDIT SUISSE NY |
10/29/2021, 3.00%, $550,000 | * | * | 557,567 | |||||||
*** |
CVS CAREMARK |
12/05/2018, 2.25%, $446,000 | * | * | 450,546 | |||||||
*** |
CVS HEALTH CORP |
07/20/2020, 2.80%, $466,000 | * | * | 478,574 | |||||||
*** |
DAIMLER FIN |
03/02/2020, 2.25%, $533,000 | * | * | 534,170 | |||||||
*** |
DAIMLER FIN NA |
09/03/2019, 2.25%, $1,100,000 | * | * | 1,108,280 | |||||||
*** |
DAIMLER FIN NA |
05/18/2020, 2.45%, $1,050,000 | * | * | 1,050,167 | |||||||
*** |
DANAHER CORP |
09/15/2020, 2.40%, $184,000 | * | * | 185,552 | |||||||
*** |
DEUTSCHE BANK AG |
02/13/2019, 2.50%, $1,510,000 | * | * | 1,511,826 | |||||||
*** |
DEUTSCHE BANK AG |
05/10/2019, 2.85%, $1,300,000 | * | * | 1,299,209 | |||||||
*** |
DIAMOND FI |
06/01/2019, 3.48%, $1,040,000 | * | * | 1,064,386 | |||||||
*** |
DISCOVER BANK |
11/13/2018, 2.60%, $500,000 | * | * | 505,974 | |||||||
*** |
DISCOVER BANK |
06/04/2020, 3.10%, $559,000 | * | * | 566,619 | |||||||
*** |
DOMINION RESOURCE |
06/15/2018, 1.90%, $843,000 | * | * | 844,020 | |||||||
*** |
DOMINION RESOURCE |
08/15/2021, 2.00%, $187,000 | * | * | 182,654 | |||||||
*** |
DUKE ENERGY |
09/01/2021, 1.80%, $297,000 | * | * | 287,894 | |||||||
*** |
DUKE ENERGY COR |
06/15/2018, 2.10%, $463,000 | * | * | 465,333 | |||||||
*** |
EMERA US FI |
06/15/2019, 2.15%, $134,000 | * | * | 133,850 | |||||||
*** |
ENTERPRISE PRD |
10/15/2019, 2.55%, $113,000 | * | * | 114,709 | |||||||
*** |
ENTERPRISE PROD |
04/15/2021, 2.85%, $412,000 | * | * | 417,264 | |||||||
*** |
ERP OPERATING LP |
07/01/2019, 2.38%, $363,000 | * | * | 370,020 | |||||||
*** |
EXELON CORP |
06/15/2020, 2.85%, $558,000 | * | * | 564,343 | |||||||
*** |
EXPRESS SCRIP HD |
06/15/2019, 2.25%, $830,000 | * | * | 830,520 | |||||||
*** |
EXXON MOBIL CORP |
03/01/2021, 2.22%, $1,020,000 | * | * | 1,027,301 | |||||||
*** |
EXXON MOBIL CORP |
03/01/2023, 2.73%, $799,000 | * | * | 808,175 | |||||||
*** |
FIFTH THIRD BAN |
04/25/2019, 2.38%, $862,000 | * | * | 871,900 |
24
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Corporate bonds (continued) |
||||||||||||
*** |
FIFTH THIRD BAN |
07/27/2020, 2.88%, $500,000 | * | * | $ | 511,649 | ||||||
*** |
FIFTH THIRD BANK |
08/20/2018, 2.15%, $500,000 | * | * | 506,987 | |||||||
*** |
FORD MTR CR |
10/01/2018, 2.88%, $1,200,000 | * | * | 1,222,732 | |||||||
*** |
FORTIVE CORP |
06/15/2021, 2.35%, $374,000 | * | * | 369,058 | |||||||
*** |
GENERAL ELEC CO |
03/11/2024, 3.38%, $986,000 | * | * | 1,022,431 | |||||||
*** |
GOLDMAN SACHS |
04/25/2021, 2.63%, $536,000 | * | * | 534,228 | |||||||
*** |
GOLDMAN SACHS GRP |
01/31/2019, 2.63%, $1,670,000 | * | * | 1,705,739 | |||||||
*** |
GOLDMAN SACHS GRP |
09/15/2020, 2.75%, $901,000 | * | * | 911,526 | |||||||
*** |
GSINC |
07/19/2018, 2.90%, $570,000 | * | * | 585,215 | |||||||
*** |
HEWLETT PACKAR VAR |
10/05/2018, 2.85%, $1,200,000 | * | * | 1,219,548 | |||||||
*** |
HSBC |
05/15/2018, 1.50%, $1,160,000 | * | * | 1,155,595 | |||||||
*** |
HSBC HOLDINGS |
05/25/2021, 2.95%, $1,040,000 | * | * | 1,041,765 | |||||||
*** |
HSBC USA INC |
06/23/2019, 2.25%, $835,000 | * | * | 834,899 | |||||||
*** |
HSBC USA INC |
09/24/2018, 2.63%, $303,000 | * | * | 308,190 | |||||||
*** |
HUNTINGTN BCSHRS |
01/14/2022, 2.30%, $800,000 | * | * | 782,386 | |||||||
*** |
HYUNDAI CAP AM |
03/19/2020, 2.60%, $530,000 | * | * | 529,856 | |||||||
*** |
HYUNDAI CAP AME |
02/06/2019, 2.55%, $1,390,000 | * | * | 1,411,903 | |||||||
*** |
INGERSOLL-RND LX |
05/01/2020, 2.63%, $150,000 | * | * | 150,889 | |||||||
*** |
INTERCONT EXCH |
10/15/2018, 2.50%, $404,000 | * | * | 411,506 | |||||||
*** |
INTERCONT EXCH |
12/01/2020, 2.75%, $676,000 | * | * | 683,750 | |||||||
*** |
JAPAN BANK INTL |
07/21/2021, 1.50%, $982,000 | * | * | 947,191 | |||||||
*** |
JPMC CO |
10/22/2019, 2.20%, $1,024,000 | * | * | 1,031,936 | |||||||
*** |
JPMC CO |
01/28/2019, 2.35%, $966,000 | * | * | 983,296 | |||||||
*** |
JPMC CO |
10/29/2020, 2.55%, $500,000 | * | * | 501,440 | |||||||
*** |
JPMORGAN CHASE CO |
06/23/2020, 2.75%, $1,580,000 | * | * | 1,594,159 | |||||||
*** |
JPMORGAN CHASE |
01/23/2020, 2.25%, $800,000 | * | * | 805,516 | |||||||
*** |
KEY BANK NA |
03/08/2019, 2.35%, $750,000 | * | * | 759,558 | |||||||
*** |
KEY BANK NA |
12/15/2019, 2.50%, $429,000 | * | * | 433,726 | |||||||
*** |
KEYBANK NATL |
03/16/2020, 2.25%, $286,000 | * | * | 286,490 | |||||||
*** |
KINDER MORGAN EN |
02/01/2019, 2.65%, $261,000 | * | * | 265,161 | |||||||
*** |
KINDER MORGAN IC |
12/01/2019, 3.05%, $390,000 | * | * | 396,400 | |||||||
*** |
LOCKHEED MARTIN |
11/23/2020, 2.50%, $692,000 | * | * | 699,134 | |||||||
*** |
MANU&TRD NT PRG |
01/30/2019, 2.30%, $560,000 | * | * | 569,339 | |||||||
*** |
MANUFCTRS TRDR |
02/06/2020, 2.10%, $800,000 | * | * | 804,020 | |||||||
*** |
MARSH MCLENN |
03/06/2020, 2.35%, $750,000 | * | * | 755,894 | |||||||
*** |
MARSH MCLENNAN |
09/10/2019, 2.35%, $344,000 | * | * | 348,271 | |||||||
*** |
MARSHMCLEN |
10/15/2018, 2.55%, $600,000 | * | * | 608,761 | |||||||
*** |
MASSMUTUAL |
11/23/2020, 2.45%, $1,000,000 | * | * | 1,001,547 | |||||||
*** |
MASSMUTUAL GLB |
04/09/2019, 2.35%, $1,120,000 | * | * | 1,136,105 | |||||||
*** |
MCDONALDS CORP |
12/07/2018, 2.10%, $217,000 | * | * | 218,547 | |||||||
*** |
MCDONALDS CORP |
12/09/2020, 2.75%, $101,000 | * | * | 102,006 | |||||||
*** |
MCKESSON CO |
03/15/2019, 2.28%, $766,000 | * | * | 773,840 | |||||||
*** |
MEDTRONIC INC |
03/15/2020, 2.50%, $1,100,000 | * | * | 1,119,801 | |||||||
*** |
MET LIFE GLB |
04/10/2019, 2.30%, $1,120,000 | * | * | 1,131,706 |
25
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Corporate bonds (continued) |
||||||||||||
*** |
MET LIFE GLBL FDG |
04/14/2020, 2.00%, $1,020,000 | * | * | $ | 1,012,314 | ||||||
*** |
MITSUBISHI |
10/16/2019, 2.45%, $550,000 | * | * | 553,172 | |||||||
*** |
MITSUBISHI UFJ FI |
03/01/2021, 2.95%, $1,000,000 | * | * | 1,015,671 | |||||||
*** |
MIZUHO BK LTD |
04/16/2019, 2.45%, $560,000 | * | * | 565,011 | |||||||
*** |
MIZUHO BNK LTD |
09/25/2019, 2.65%, $550,000 | * | * | 557,398 | |||||||
*** |
MIZUHO FINL |
09/13/2021, 2.27%, $550,000 | * | * | 537,307 | |||||||
*** |
MIZUHO FINL |
04/12/2021, 2.63%, $510,000 | * | * | 507,178 | |||||||
*** |
MORGAN STANLEY |
04/25/2018, 2.13%, $580,000 | * | * | 584,489 | |||||||
*** |
MORGAN STANLEY |
07/23/2019, 2.38%, $1,050,000 | * | * | 1,063,474 | |||||||
*** |
MORGAN STANLEY |
01/24/2019, 2.50%, $2,575,000 | * | * | 2,629,216 | |||||||
*** |
MORGAN STANLEY |
04/21/2021, 2.50%, $1,000,000 | * | * | 993,134 | |||||||
*** |
MORGAN STANLEY |
01/27/2020, 2.65%, $850,000 | * | * | 863,105 | |||||||
*** |
MUFG AMERICAS HLD |
02/10/2020, 2.25%, $528,000 | * | * | 526,697 | |||||||
*** |
NEW YORK LIFE |
02/11/2020, 1.95%, $1,340,000 | * | * | 1,339,771 | |||||||
*** |
NEXTERA ENERGY |
09/01/2018, 1.65%, $203,000 | * | * | 203,443 | |||||||
*** |
NORDEA BK |
09/17/2018, 1.88%, $750,000 | * | * | 753,556 | |||||||
*** |
NORDEA BK AB |
04/04/2019, 2.38%, $840,000 | * | * | 850,117 | |||||||
*** |
ORACLE CORP |
10/08/2019, 2.25%, $610,000 | * | * | 620,268 | |||||||
*** |
PG&E CORP |
03/01/2019, 2.40%, $83,000 | * | * | 83,961 | |||||||
*** |
PHILIP MORRIS INTL |
02/25/2021, 1.88%, $1,612,000 | * | * | 1,586,891 | |||||||
*** |
PHILIP MORS INT |
01/15/2019, 1.88%, $580,000 | * | * | 584,957 | |||||||
*** |
PNC BANK NA |
04/29/2021, 2.15%, $500,000 | * | * | 494,812 | |||||||
*** |
PNC BANK NA |
10/18/2019, 2.40%, $550,000 | * | * | 557,483 | |||||||
*** |
PNC BANK NA |
12/09/2021, 2.55%, $500,000 | * | * | 500,710 | |||||||
*** |
PNC BK PITT MTN |
01/28/2019, 2.20%, $560,000 | * | * | 567,991 | |||||||
*** |
PRICOA GLOBAL |
09/21/2018, 1.90%, $500,000 | * | * | 503,966 | |||||||
*** |
PRINCIPAL FDG |
09/11/2019, 2.38%, $1,000,000 | * | * | 1,010,795 | |||||||
*** |
PRINCIPAL FDGII |
04/08/2020, 2.20%, $1,060,000 | * | * | 1,056,738 | |||||||
*** |
PUBLIC SVC ENT |
11/15/2021, 2.00%, $355,000 | * | * | 344,447 | |||||||
*** |
REGIONS FIN CORP |
09/14/2018, 2.25%, $1,250,000 | * | * | 1,262,246 | |||||||
*** |
REGIONS FINL CORP |
02/08/2021, 3.20%, $750,000 | * | * | 769,537 | |||||||
*** |
REYNOLDS AMERICAN |
06/12/2018, 2.30%, $233,000 | * | * | 234,723 | |||||||
*** |
REYNOLDS AMERICAN |
06/12/2020, 3.25%, $662,000 | * | * | 679,071 | |||||||
*** |
REYNOLDS AMERICAN |
06/12/2022, 4.00%, $357,000 | * | * | 373,758 | |||||||
*** |
ROPER INDUSTRIES |
10/01/2018, 2.05%, $606,000 | * | * | 611,052 | |||||||
*** |
ROPER TECHNOLOGIES |
12/15/2020, 3.00%, $1,000,000 | * | * | 1,013,553 | |||||||
*** |
ROPER TECHNOLOGS |
12/15/2021, 2.80%, $786,000 | * | * | 785,560 | |||||||
*** |
ROYAL BANK CANADA |
07/29/2019, 1.50%, $1,000,000 | * | * | 993,247 | |||||||
*** |
ROYAL BK CAN GL |
10/30/2020, 2.35%, $700,000 | * | * | 701,252 | |||||||
*** |
ROYAL BK OF CDA |
03/15/2019, 2.15%, $560,000 | * | * | 565,536 | |||||||
*** |
ROYAL BNK CANADA |
01/27/2026, 4.65%, $590,000 | * | * | 639,427 | |||||||
*** |
S&P GLOBAL INC |
08/15/2018, 2.50%, $320,000 | * | * | 325,638 | |||||||
*** |
SCHLUMBERG |
12/21/2018, 2.35%, $1,399,000 | * | * | 1,411,157 | |||||||
*** |
SELECT INCOME REIT |
02/01/2018, 2.85%, $259,000 | * | * | 263,155 | |||||||
*** |
SEMPRA ENERGY |
03/15/2020, 2.40%, $614,000 | * | * | 617,099 |
26
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Corporate bonds (continued) |
||||||||||||
*** |
SEMPRA ENERGY |
11/15/2020, 2.85%, $408,000 | * | * | $ | 412,315 | ||||||
*** |
SHELL INTL |
11/10/2020, 2.25%, $750,000 | * | * | 750,759 | |||||||
*** |
SHELL INTL FIN BV |
05/11/2020, 2.13%, $793,000 | * | * | 794,394 | |||||||
*** |
SHIRE ACQ INV IRE |
09/23/2021, 2.40%, $1,250,000 | * | * | 1,214,510 | |||||||
*** |
SIMON PROP GRP |
01/30/2022, 2.35%, $213,000 | * | * | 210,454 | |||||||
*** |
SOUTHERN COMPANY |
07/01/2021, 2.35%, $1,040,000 | * | * | 1,035,911 | |||||||
*** |
SOUTHERN PWR CO |
06/01/2020, 2.38%, $373,000 | * | * | 370,639 | |||||||
*** |
SUMITOMO BKG |
07/11/2019, 2.25%, $850,000 | * | * | 857,673 | |||||||
*** |
SUMITOMO BKG |
01/16/2020, 2.45%, $500,000 | * | * | 504,259 | |||||||
*** |
SUMITOMO BKG |
01/10/2019, 2.45%, $560,000 | * | * | 569,386 | |||||||
*** |
SUMITOMO MITSUI |
03/09/2021, 2.93%, $663,000 | * | * | 671,965 | |||||||
*** |
SUMITOMO MITSUI BKG |
07/19/2018, 2.50%, $250,000 | * | * | 254,785 | |||||||
*** |
SUNTRUST |
11/01/2018, 2.35%, $877,000 | * | * | 888,041 | |||||||
*** |
SUNTRUST BANK INC |
05/01/2019, 2.50%, $550,000 | * | * | 556,767 | |||||||
*** |
SUNTRUST BANKS INC |
03/03/2021, 2.90%, $765,000 | * | * | 782,442 | |||||||
*** |
SYNCHRONY FIN |
08/15/2019, 3.00%, $196,000 | * | * | 200,675 | |||||||
*** |
SYNCHRONY FINANCL |
01/15/2019, 2.60%, $1,231,000 | * | * | 1,251,569 | |||||||
*** |
TEVA PHARM NE |
07/19/2019, 1.70%, $1,164,000 | * | * | 1,151,954 | |||||||
*** |
TEVA PHARM NE |
07/21/2021, 2.20%, $1,396,000 | * | * | 1,347,963 | |||||||
*** |
TEVA PHARM NE |
07/21/2023, 2.80%, $283,000 | * | * | 271,103 | |||||||
*** |
THERMO FISHER |
02/01/2019, 2.40%, $102,000 | * | * | 103,759 | |||||||
*** |
TIAA AST MG |
11/01/2019, 2.95%, $160,000 | * | * | 163,470 | |||||||
*** |
TIME WARNER INC |
03/29/2021, 4.75%, $468,000 | * | * | 506,638 | |||||||
*** |
TIME WARNER INC |
06/15/2018, 6.88%, $675,000 | * | * | 723,879 | |||||||
*** |
TJX COS INC |
06/15/2021, 2.75%, $521,000 | * | * | 530,215 | |||||||
*** |
TORONTO DOM BANK |
04/07/2021, 2.13%, $1,030,000 | * | * | 1,018,484 | |||||||
*** |
TORONTO DOM BK |
07/02/2019, 2.13%, $560,000 | * | * | 567,077 | |||||||
*** |
TORONTO DOMINION |
11/05/2019, 2.25%, $1,000,000 | * | * | 1,008,960 | |||||||
*** |
TOTAL CAP CDA L |
01/15/2018, 1.45%, $621,000 | * | * | 625,022 | |||||||
*** |
TOTAL CAP INTL |
01/10/2019, 2.13%, $1,700,000 | * | * | 1,730,076 | |||||||
*** |
TOTAL CAP INTL |
06/19/2021, 2.75%, $550,000 | * | * | 556,502 | |||||||
*** |
UBS AG STAM |
08/14/2019, 2.38%, $830,000 | * | * | 841,150 | |||||||
*** |
UBS AG STAMFORD |
03/26/2018, 1.80%, $788,000 | * | * | 792,183 | |||||||
*** |
UNITED HEALTH |
07/15/2020, 2.70%, $421,000 | * | * | 432,269 | |||||||
*** |
UNITEDHEALTH GP |
03/15/2021, 2.13%, $750,000 | * | * | 745,288 | |||||||
*** |
USAA CAPITAL |
06/01/2021, 2.00%, $750,000 | * | * | 734,730 | |||||||
*** |
VERIZON COM |
09/15/2020, 4.50%, $1,000,000 | * | * | 1,082,582 | |||||||
*** |
VERIZON COMM |
08/15/2021, 1.75%, $1,500,000 | * | * | 1,448,538 | |||||||
*** |
VERIZON COMMS INC |
11/01/2021, 3.00%, $500,000 | * | * | 505,826 | |||||||
*** |
VERIZON COMMUNS |
02/21/2020, 2.63%, $1,508,000 | * | * | 1,535,788 | |||||||
*** |
VODAFONE GRUP PLC |
02/19/2018, 1.50%, $580,000 | * | * | 580,966 | |||||||
*** |
VOLKSWAGEN |
11/20/2018, 2.13%, $500,000 | * | * | 500,931 | |||||||
*** |
VOLKSWAGEN GRP |
05/22/2020, 2.40%, $529,000 | * | * | 524,516 | |||||||
*** |
WASHINGTON PG |
04/01/2020, 3.85%, $530,000 | * | * | 535,694 | |||||||
*** |
WELLPOINT INC |
08/15/2019, 2.25%, $550,000 | * | * | 553,318 |
27
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current value |
||||||||
Corporate bonds (continued) |
||||||||||||
*** |
WELLPOINT INC |
07/15/2018, 2.30%, $412,000 | * | * | $ | 418,995 | ||||||
*** |
WELLS FARGO CO MTN |
07/22/2020, 2.60%, $1,000,000 | * | * | 1,016,537 | |||||||
*** |
WELLS FARGO |
01/22/2021, 3.00%, $1,040,000 | * | * | 1,071,203 | |||||||
*** |
WESTERN UN CO |
08/22/2018, 3.65%, $500,000 | * | * | 518,691 | |||||||
*** |
WESTPAC BANKING |
08/19/2019, 1.60%, $1,000,000 | * | * | 993,507 | |||||||
*** |
WISCONSIN ENERGY |
06/15/2020, 2.45%, $301,000 | * | * | 301,349 | |||||||
*** |
XCEL ENERGY INC |
03/15/2021, 2.45%, $283,000 | * | * | 283,176 | |||||||
*** |
XEROX CORP |
03/15/2019, 2.75%, $696,000 | * | * | 701,448 | |||||||
*** |
ZOETIS INC |
11/13/2020, 3.45%, $145,000 | * | * | 149,377 | |||||||
|
|
|||||||||||
Total corporate bonds |
179,585,648 | |||||||||||
|
|
|||||||||||
Residential mortgage-backed bonds |
||||||||||||
*** |
FHLG 5.50% 03/34 #G01665 |
03/01/2034, 5.50%, $118,590 | * | * | 133,606 | |||||||
*** |
FHLG 5.50% 05/34 #Z40042 |
05/01/2034, 5.50%, $887,787 | * | * | 998,634 | |||||||
*** |
FHLG 15YR 3.50% 10/26 #G14450 |
10/01/2026, 3.50%, $2,188,318 | * | * | 2,295,654 | |||||||
*** |
FHLG 15YR 4.00% 04/26 #E02867 |
04/01/2026, 4.00%, $120,808 | * | * | 128,596 | |||||||
*** |
FHLG 15YR 4.00% 06/24 #G18312 |
06/01/2024, 4.00%, $248,699 | * | * | 262,988 | |||||||
*** |
FHLG 15YR 4.00% 07/24 #G13596 |
07/01/2024, 4.00%, $196,613 | * | * | 207,910 | |||||||
*** |
FHLG 15YR 4.00% 09/25 #E02787 |
09/01/2025, 4.00%, $232,996 | * | * | 250,201 | |||||||
*** |
FHLG 15YR 4.00% 09/25 #G14376 |
09/01/2025, 4.00%, $169,047 | * | * | 178,867 | |||||||
*** |
FHLG 15YR 4.50% 08/18 #E98688 |
08/01/2018, 4.50%, $62,055 | * | * | 63,647 | |||||||
*** |
FHLG 15YR 5.00% 04/20 #G13598 |
04/01/2020, 5.00%, $103,338 | * | * | 106,726 | |||||||
*** |
FHLG 15YR 5.50% 03/19 #E01604 |
03/01/2019, 5.50%, $14,384 | * | * | 14,968 | |||||||
*** |
FHLG 15YR 2.50% 06/23#G14775 |
06/01/2023, 2.50%, $225,894 | * | * | 228,941 | |||||||
*** |
FHLG 15YR 2.50% 09/22#J20415 |
09/01/2022, 2.50%, $105,037 | * | * | 107,931 | |||||||
*** |
FHLG 15YR 3.00% 05/29#J29409 |
05/01/2029, 3.00%, $2,252,476 | * | * | 2,327,529 | |||||||
*** |
FHLG 20YR 3.50% 06/32#C91456 |
06/01/2032, 3.50%, $1,259,424 | * | * | 1,318,534 | |||||||
*** |
FHLG 20YR 5.50% 03/23 #D95897 |
03/01/2023, 5.50%, $13,080 | * | * | 14,551 | |||||||
*** |
FHLG 20YR 5.50% 04/24 #C90825 |
04/01/2024, 5.50%, $83,872 | * | * | 93,305 | |||||||
*** |
FHLG 20YR 5.50% 05/23 #C90676 |
05/01/2023, 5.50%, $29,041 | * | * | 32,308 | |||||||
*** |
FHLG 20YR 5.50% 07/23 #C90691 |
07/01/2023, 5.50%, $92,716 | * | * | 103,144 | |||||||
*** |
FHLG 20YR 6.00% 09/22 #C90580 |
09/01/2022, 6.00%, $31,198 | * | * | 35,284 | |||||||
*** |
FHLG 25YR 5.50% 07/35 #G05815 |
07/01/2035, 5.50%, $81,229 | * | * | 91,445 | |||||||
*** |
FHLM AR 12M+187.9 3.08% 10/42#849255 |
10/01/2042, 3.08%, $195,836 | * | * | 207,509 | |||||||
*** |
FHLM ARM 3.13% 08/41 #1B8533 |
08/01/2041, 3.13%, $101,872 | * | * | 106,116 | |||||||
*** |
FHLM ARM 3.13% 09/41 #1B8608 |
09/01/2041, 3.13%, $64,285 | * | * | 68,290 | |||||||
*** |
FHLM ARM 3.03% 04/40 #1B4702 |
04/01/2040, 3.03%, $65,801 | * | * | 69,998 | |||||||
*** |
FHLM ARM 3.06% 08/36 #848185+C412 |
08/01/2036, 3.06%, $44,162 | * | * | 46,442 | |||||||
*** |
FHLM ARM 3.03% 11/35 #1J1228 |
11/01/2035, 3.03%, $69,377 | * | * | 72,990 | |||||||
*** |
FHLM ARM 3.21% 04/41#1B8179 |
04/01/2041, 3.21%, $33,608 | * | * | 34,949 | |||||||
*** |
FHLM ARM 3.18% 09/41#1B8659 |
09/01/2041, 3.18%, $38,136 | * | * | 39,880 | |||||||
*** |
FHLM ARM 3.28 06/41 |
06/01/2041, 3.28%, $40,108 | * | * | 42,345 | |||||||
*** |
FHLM ARM 3.39% 05/41 #1B8304 |
05/01/2041, 3.39%, $29,569 | * | * | 31,275 | |||||||
*** |
FHLM ARM 2.92% 04/40 #1B4657 |
04/01/2040, 2.92%, $69,945 | * | * | 74,122 |
28
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, 2016
(a) |
(b) Identity of issue, borrower, lessor, or similar party |
(c) Description of investment including
collateral, par, or maturity value |
(d) Cost |
(e) Current
value |
||||||||
Residential mortgage-backed bonds (continued) |
||||||||||||
*** |
FHLM ARM 3.64% 06/41#1B8372 |
06/01/2041, 3.64%, $47,951 | * | * | $ | 50,668 | ||||||
*** |
FHLM ARM 3.67% 05/41#1B8124 |
05/01/2041, 3.67%, $46,040 | * | * | 48,645 | |||||||
*** |
FHLMC 0.75% 04/18 |
04/09/2018, 0.75%, $0 | * | * | 5,954 | |||||||
*** |
FNMA 6.50% 07/32 #545759 |
07/01/2032, 6.50%, $30,362 | * | * | 34,834 | |||||||
*** |
FNMA 6.50% 07/32 #545762 |
07/01/2032, 6.50%, $11,931 | * | * | 13,685 | |||||||
*** |
FNMA 6.50% 07/35 #745092 |
07/01/2035, 6.50%, $13,085 | * | * | 15,054 | |||||||
*** |
FNMA 6.50% 08/36 #888034 |
08/01/2036, 6.50%, $20,981 | * | * | 24,053 | |||||||
*** |
FNMA 6.50% 12/32 #735415 |
12/01/2032, 6.50%, $11,920 | * | * | 13,670 | |||||||
*** |
FNMA 10YR 2.50% 05/23 #MA1431 |
05/01/2023, 2.50%, $361,528 | * | * | 371,488 | |||||||
*** |
FNMA 10YR 2.50% 10/22#AB6544 |
10/01/2022, 2.50%, $165,486 | * | * | 170,041 | |||||||
*** |
FNMA 10YR 2.50% 10/22#AB6730 |
10/01/2022, 2.50%, $129,030 | * | * | 132,585 | |||||||
*** |
FNMA 15YR 3.50% 01/26 #AL1168 |
01/01/2026, 3.50%, $185,657 | * | * | 194,626 | |||||||
*** |
FNMA 15YR 3.50% 03/27 #AL1746 |
03/01/2027, 3.50%, $859,678 | * | * | 901,341 | |||||||
*** |
FNMA 15YR 3.50% 05/27 #AL1741 |
05/01/2027, 3.50%, $523,152 | * | * | 548,343 | |||||||
*** |
FNMA 15YR 3.50% 05/27 #AL1751 |
05/01/2027, 3.50%, $196,776 | * | * | 206,251 | |||||||
*** |
FNMA 15YR 3.00% 07/30#AL8853 |
07/01/2030, 3.00%, $3,643,759 | * | * | 3,770,295 | |||||||
*** |
FNMA 15YR 4.50% 11/25#AL8242 |
11/01/2025, 4.50%, $537,769 | * | * | 571,582 | |||||||
*** |
FNMA 5.50% 11/34 #310105 |
11/01/2034, 5.50%, $642,258 | * | * | 722,274 | |||||||
*** |
FNMA 6.50% 12/35 #AD0723 |
12/01/2035, 6.50%, $118,334 | * | * | 137,646 | |||||||
*** |
FNMA 6.50% 08/36 #888544 |
08/01/2036, 6.50%, $96,088 | * | * | 110,326 | |||||||
*** |
FNMA 6.50% 08/36 #AE0746 |
08/01/2036, 6.50%, $80,307 | * | * | 92,161 | |||||||
*** |
FNMA ARM 3.30% 10/41 #AH5261 |
10/01/2041, 3.30%, $85,618 | * | * | 89,330 | |||||||
*** |
FNMA ARM 3.11% 04/35 #995609 |
04/01/2035, 3.11%, $46,443 | * | * | 49,159 | |||||||
*** |
FNMA ARM 2.74% 08/41 #AH5259 |
08/01/2041, 3.05%, $109,806 | * | * | 114,420 | |||||||
*** |
FNMA ARM 3.01% 08/41 #AI4358 |
08/01/2041, 3.05%, $18,976 | * | * | 20,038 | |||||||
*** |
FNMA ARM 3.07% 09/41 #AI8935 |
09/01/2041, 3.07%, $71,255 | * | * | 75,970 | |||||||
*** |
FNMA ARM 2.73% 03/40 #AD0820 |
03/01/2040, 2.73%, $72,309 | * | * | 76,872 | |||||||
*** |
FNMA ARM 2.96% 03/40 #AD1555 |
03/01/2040, 2.96%, $89,641 | * | * | 95,399 | |||||||
*** |
FNMA ARM 2.76% 05/35 #889946 |
05/01/2035, 2.76%, $73,897 | * | * | 77,986 | |||||||
*** |
FNMA ARM 2.81% 02/35 #995017 |
02/01/2035, 2.81%, $138,093 | * | * | 144,969 | |||||||
*** |
FNMA ARM 2.91% 12/34 #802852 |
12/01/2034, 2.91%, $60,322 | * | * | 63,904 | |||||||
*** |
FNMA ARM 2.96% 11/34 #735011 |
11/01/2034, 2.96%, $69,050 | * | * | 72,337 | |||||||
*** |
FNMA ARM 2.54% 06/42#AO2244 |
06/01/2042, 2.54%, $52,944 | * | * | 55,002 | |||||||
*** |
FNMA ARM 2.94% 09/41#AI9813 |
09/01/2041, 2.94%, $31,257 | * | * | 32,565 | |||||||
*** |
FNMA ARM 2.98% 10/41#AJ3399 |
10/01/2041, 2.98%, $16,504 | * | * | 17,220 | |||||||
*** |
FNMA ARM 2.92% 11/36 #995606 |
11/01/2036, 2.92%, $117,655 | * | * | 123,879 | |||||||
*** |
FNMA ARM 2.97% 11/40#AE6806 |
11/01/2040, 2.97%, $26,792 | * | * | 28,344 | |||||||
*** |
FNMA ARM 2.80% 12/33#AD0066 |
12/01/2033, 2.80%, $191,016 | * | * | 201,761 | |||||||
*** |
FNMA ARM 2.56% 01/40 #AC0599 |
01/01/2040, 2.56%, $123,688 | * | * | 128,623 | |||||||
*** |
FNMA ARM 3.24% 07/41#AI3469 |
07/01/2041, 3.24%, $45,874 | * | * | 48,393 | |||||||
*** |
FNMA ARM 3.35% 10/41#AI6819 |
10/01/2041, 3.35%, $27,145 | * | * | 28,451 | |||||||
*** |
FNMA ARM 3.55% 07/41#AI6050 |
07/01/2041, 3.55%, $62,812 | * | * | 65,667 | |||||||
*** |
FNMA ARM 2.83% 10/35 #995415 |
10/01/2035, 2.83%, $350,638 | * | * | 371,631 | |||||||
*** |
FNMA ARM 2.79% 07/35 #995414 |
07/01/2035, 2.79%, $127,063 | * | * | 134,321 | |||||||
*** |
GNMA 30YR 5.50% 06/35#783800 |
06/15/2035, 5.50%, $120,802 | * | * | 138,985 |
29
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, 2016
30
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, 2016
(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 |
||||||||
Index mutual funds (continued) |
||||||||||||
* |
State Street Bank and Trust Company |
SSGA US Infl Prot BD Idx Nl Cl A |
* | * | $ | 32,888,205 | ||||||
* |
State Street Bank and Trust Company |
SSGA US ST Govt Crd Bd Idx Nl Cl A |
* | * | 11,577,092 | |||||||
|
|
|||||||||||
Total index mutual funds |
528,403,861 | |||||||||||
|
|
|||||||||||
Balanced mutual funds |
||||||||||||
* |
Dodge & Cox |
D Dodge & Cox Balanced Fund |
* | * | 86,533,294 | |||||||
|
|
|||||||||||
Growth mutual funds |
||||||||||||
* |
AXA Large Cap G |
AXA Large Cap G |
* | * | 35,961,170 | |||||||
* |
BlkRck EAFE Eq |
Blackrock EAFE Equity Index Fund |
* | * | 40,392,099 | |||||||
* |
BlkRck Eq Index |
Blackrock Equity Index Fund |
* | * | 189,958,536 | |||||||
* |
EQ Advisors Trust |
EQ/AB Small Cap Growth A |
* | * | 37,291,957 | |||||||
* |
EQ Advisors Trust |
EQ GAMCO Small Company Value |
* | * | 61,783,582 | |||||||
* |
EQ Advisors Trust |
EQ International Growth K |
* | * | 40,767,440 | |||||||
* |
Morgan Stanley Investments LP |
Morgan Stanley Instl Midcap Growth |
* | * | 30,598,622 | |||||||
|
|
|||||||||||
Total growth mutual funds |
436,753,406 | |||||||||||
|
|
|||||||||||
Fixed income mutual funds |
||||||||||||
* |
AB High Yield |
AB High Yield |
26,513,461 | |||||||||
* |
State Street Bank and Trust Company |
AB US Yield Coll Inv Trst |
28,148,711 | |||||||||
* |
AXA Equity Large Cap Value |
AXA Equity Large Cap Value |
41,087,559 | |||||||||
* |
Blackrock Strategic |
EQ/Intl Growth A |
20,496,119 | |||||||||
* |
Fidelity Management Trust Company |
Colchester Street Trust: Money Market Portfolio |
5,956,275 | |||||||||
* |
GS High Yield Inst |
GS High Yield Inst |
42,515,691 | |||||||||
* |
Sate Street Global Advisors |
SSgA U.S. Government Short Term Investment Fund Class A |
8,119,926 | |||||||||
|
|
|||||||||||
Total fixed income mutual funds |
172,837,742 | |||||||||||
|
|
|||||||||||
Other mutual funds |
||||||||||||
*, 1 |
Dodge & Cox International Stock |
Dodge & Cox International Stock |
* | * | 47,196,479 | |||||||
|
|
|||||||||||
GIC Wrappers |
||||||||||||
State St Bk & Tr Co Boston |
Contract # 1007007 |
* | * | 69,939 | ||||||||
|
|
31
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, 2016
(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 |
||||||||||||
*** |
ALLYL 2015-SN1 A3 1.21% 12/17 |
12/20/2017, 1.21%, $88,979 | * | * | $ | 89,017 | ||||||
*** |
BMWLT 2015-1 A3 1.24% 12/17 |
12/20/2017, 1.24%, $589,168 | * | * | 589,544 | |||||||
Interest bearing cash held in Clearing Account |
* | * | 26,113,383 | |||||||||
*** |
ESSEX PORTFOLIO LP 5.50% 3/17WI |
03/15/2017, 5.50%, $515,000 | * | * | 527,452 | |||||||
*** |
EXELON CORP 1.55% 06/17 |
06/09/2017, 1.55%, $103,000 | * | * | 102,908 | |||||||
*** |
FHLB 0.88% 05/17 |
05/24/2017, 0.88%, $565,000 | * | * | 565,794 | |||||||
*** |
FNMA 15YR 6.50% 3/17 #254236 |
03/01/2017, 6.50%, $788 | * | * | 793 | |||||||
*** |
KINDER MRGN INC 2.00% 12/17 |
12/01/2017, 2.00%, $202,000 | * | * | 202,632 | |||||||
*** |
SYNCHRONY FIN 1.88% 08/17 |
08/15/2017, 1.88%, $133,000 | * | * | 134,046 | |||||||
*** |
TRANSCANADA PIPE 1.63% 11/17 |
11/09/2017, 1.88%, $1,000,000 | * | * | 1,001,553 | |||||||
*** |
VWALT 2015-A A3 1.25% 12/17 |
12/20/2017, 1.63%, $591,445 | * | * | 591,718 | |||||||
*** |
WESTERN UNION CO 2.88 12/17 |
12/10/2017, 1.25%, $854,000 | * | * | 864,084 | |||||||
*** |
WOLS 2014-A A3 1.16% 09/17 |
09/15/2017, 2.88%, $327,961 | * | * | 328,124 | |||||||
|
|
|||||||||||
Total short-term investments |
31,111,048 | |||||||||||
|
|
|||||||||||
Subtotal: Investments at fair value |
1,875,845,723 | |||||||||||
Adjustment from fair value to contract value for fully benefit-responsive investment contracts |
(3,610,534 | ) | ||||||||||
|
|
|||||||||||
Subtotal |
1,872,235,189 | |||||||||||
|
|
|||||||||||
Notes receivable from participants |
||||||||||||
Notes receivable from participants |
4.25% to 11.00% | * | * | 23,355,655 | ||||||||
|
|
|||||||||||
Total |
$ | 1,895,590,844 | ||||||||||
|
|
* | Represents a party-in-interest. |
** | Cost information is not required for participant-directed investments and, therefore, is not included. |
*** | Represents underlying investments of the Plans 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
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, 2017 | By: | /s/ Barbara Lenkiewicz | ||||
BARBARA LENKIEWICZ | ||||||
Chairperson of The Administrative Committee of Benefit Plans of AXA Equitable Life Insurance Company (Plan Fiduciary) and Managing Director of AXA Equitable Life Insurance Company (Plan Sponsor) | ||||||
Dated: June 27, 2017 | By: | /s/ Glen Gardner | ||||
GLEN GARDNER | ||||||
Chairperson of The Defined Contribution Plans Investment Committee of AXA Equitable Life Insurance Company (Plan Fiduciary) and Vice President of AXA Equitable Life Insurance Company (Plan Sponsor) |
33
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