Form 11-K AT&T INC. For: Dec 31

June 28, 2019 3:31 PM
Table of Contents

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

 

(Mark One)

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

For the fiscal year ended December 31, 2018

OR

 

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

For the transition period from                      to                     

Commission File Number:1-8610

 

 

 

A.

Full title of the plan and the address of the plan, if different from that of the issuer named below:

WARNER MEDIA, LLC SAVINGS PLAN

 

B.

Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

AT&T INC.

208 S. Akard, Dallas, Texas 75202

 

 

 


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES

YEARS ENDED DECEMBER 31, 2018 AND 2017

 

     Page  

Report of Independent Registered Public Accounting Firm

     1  

Financial Statements

  

Statements of Net Assets Available for Benefits

     2  

Statements of Changes in Net Assets Available for Benefits

     3  

Notes to Financial Statements

     4  

Supplemental Schedules

  

Schedule G, Part 1 – Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible

     13  

Schedule H, Part IV, Line 4(a) – Schedule of Delinquent Participant Contributions

     14  

Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year)

     15  


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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Plan Participants and the Plan Administrator of Warner Media, LLC Savings Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of Warner Media, LLC Savings Plan (formerly, Time Warner Savings Plan) (the Plan) as of December 31, 2018 and 2017, and the related statements of changes in net assets available for benefits for the years then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2018 and 2017, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Schedules

The accompanying supplemental schedules of loans or fixed income obligations in default or classified as uncollectible, delinquent participant contributions and assets (held at end of year) as of December 31, 2018 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedules is the responsibility of the Plan’s management. Our audit procedures included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Ernst & Young LLP

We have served as the Plan’s auditor since at least 1982, but we are unable to determine the specific year.

New York, New York

June 28, 2019

 

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WARNER MEDIA, LLC SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

(thousands)

 

     December 31,  
     2018      2017  

Investments at fair value:

     

Commingled trust funds

   $ 1,854,394      $ 1,909,766  

Time Warner common stock

     —          339,175  

AT&T common stock

     294,137        —    

Other common stocks

     1,532,472        1,634,589  

Mutual funds

     348,664        363,486  

U.S. government and agency securities

     261,992        237,901  

Other fixed income securities

     212,240        193,105  

Cash, cash equivalents and other investments

     59,008        41,389  
  

 

 

    

 

 

 

Total investments at fair value

     4,562,907        4,719,411  

Investments at contract value:

     

Synthetic investment contracts

     530,792        510,294  
  

 

 

    

 

 

 

Total investments

     5,093,699        5,229,705  

Contributions receivable:

     

Employing company

     11,269        13,554  

Participants

     982        3,737  

Notes receivable from participants

     61,257        61,789  

Receivables for securities sold

     191,375        200,573  

Other assets

     7,871        5,758  
  

 

 

    

 

 

 

Total assets

     5,366,453        5,515,116  
  

 

 

    

 

 

 

Payables for securities purchased

     358,588        324,124  

Other liabilities

     5,485        6,411  
  

 

 

    

 

 

 

Total liabilities

     364,073        330,535  
  

 

 

    

 

 

 

Net assets available for benefits

   $ 5,002,380      $ 5,184,581  
  

 

 

    

 

 

 

See accompanying notes.

 

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WARNER MEDIA, LLC SAVINGS PLAN

STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

(thousands)

 

     Year Ended December 31,  
     2018     2017  

Net assets available for benefits at beginning of year

   $ 5,184,581     $ 4,473,724  

Changes in net assets:

    

Investment income, net of fees

     59,796       47,306  

Net realized and unrealized (depreciation) appreciation in the fair value of investments

     (258,865     655,785  
  

 

 

   

 

 

 

Net investment (loss) income

     (199,069     703,091  

Employing company contributions

     143,979       137,285  

Participant contributions, including rollover contributions

     205,097       188,848  

Participant loan interest income

     4,349       3,837  

Participant withdrawals

     (334,660     (320,154

Administrative expenses

     (1,897     (2,050
  

 

 

   

 

 

 

Net change

     (182,201     710,857  
  

 

 

   

 

 

 

Net assets available for benefits at end of year

   $ 5,002,380     $ 5,184,581  
  

 

 

   

 

 

 

See accompanying notes.

 

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WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2018

1. Description of the Plan

The following is an abbreviated description of the Warner Media, LLC Savings Plan (formerly known as the Time Warner Savings Plan) (the “Plan”). Warner Media, LLC (“WarnerMedia”), the successor by Merger (as defined below) to Time Warner Inc. (“Time Warner”), is the Plan sponsor. More complete descriptions of the Plan are provided in the Plan documents, as amended, and the summary plan description/prospectus. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

General

The Plan is a defined contribution profit sharing plan with a 401(k) feature generally covering eligible employees of WarnerMedia (formerly Time Warner) and certain of its subsidiaries and affiliates (each, an “Employing Company” and, collectively, the “Employing Companies”).

The Plan is the only participating plan in the Time Warner Defined Contribution Plans Master Trust (the “Master Trust”) and is a “Qualified Automatic Contribution Arrangement” in accordance with the Internal Revenue Code of 1986, as amended (the “Code”), and thus is exempt from nondiscrimination testing.

On June 14, 2018, Time Warner merged into a direct, wholly owned subsidiary of AT&T Inc. (“AT&T”) through a series of related transactions (the “Merger”). As a result of the Merger, each share of Time Warner stock was exchanged for $53.75 cash plus 1.437 shares of AT&T common stock.

Effective July 1, 2018, the Plan was amended to change the name of the Plan to the Warner Media, LLC Savings Plan.

The approval of the Merger Agreement by the Time Warner board of directors on October 22, 2016 constituted a change in control of Time Warner under the terms of the Plan, and, as a result, the current and future Employing Company Contributions (as defined below) of Plan participants who were actively employed on October 22, 2016 became fully vested. The Employing Company Contributions of Plan participants who became employed by an Employing Company after October 22, 2016 are subject to the regular vesting schedule under the Plan.

Investment Funds, Contributions and Vesting

The Plan provides for multiple investment funds made available through the trustee of the Master Trust, Fidelity Management Trust Company (“Fidelity”), pursuant to the Master Trust. The Plan’s investment funds consist of four asset allocation (target risk) funds and 14 core investment funds (ten of which are actively managed and four of which are index funds). The Plan also offers a self-directed brokerage option that is limited to mutual funds. Participant contributions, Matching Contributions (as defined below) and Rollovers (as defined below) may generally be invested in specified increments in the investment funds. Participants may periodically transfer account balances among the investment funds offered under the Plan.

Following the close of the Merger, the Time Warner Inc. Stock Fund was replaced with the AT&T Inc. Stock Fund. Each share of Time Warner common stock held in the Time Warner Inc. Stock Fund was exchanged for the merger consideration described above, and the independent fiduciary for the fund was charged with determining when and how to purchase additional shares of AT&T common stock with the cash portion of the merger consideration.

Contributions or investment fund transfers into the AT&T Inc. Stock Fund (formerly the Time Warner Inc. Stock Fund), an employee stock ownership plan component of the Plan, are prohibited, but Plan participants who hold AT&T common stock or previously held Time Warner common stock in this fund have the option of reinvesting cash dividends paid by AT&T and formerly Time Warner on its common stock through this fund or receiving a cash dividend distribution. During 2018 and 2017, Plan participants elected to receive $3.0 million and $6.3 million, respectively, in Time Warner cash dividend distributions. During 2018, post-merger, Plan participants elected to receive $10.7 million in AT&T cash dividend distributions. These dividend distributions are included with participant withdrawals on the Statements of Changes in Net Assets Available for Benefits.

Generally, the Plan provides for voluntary participant contributions on a pre-tax basis at an elected percentage of a participant’s eligible compensation, up to an annual limit established by the Internal Revenue Service (“IRS”). The elective deferral amount for employees is 2% to 50% (in whole percentages) for the pre-tax contributions, subject to the limit established by the IRS.

 

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WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS – (Continued)

 

After two months of continuous employment (or, with respect to employees classified as hourly or temporary employees, after 1,000 hours of credited service in any one year), matching contributions by Employing Companies (“Matching Contributions”) are made as a percentage of a participant’s contributions to the Plan and are capped at certain percentages of the participant’s eligible compensation deferred.

All newly eligible Plan participants and employees classified as hourly or temporary employees who are credited with at least 1,000 hours of service in any one year are automatically enrolled in the Plan at a pre-tax contribution rate of 3%, unless they change their contribution rate or opt out of the Plan. Unless participants who are automatically enrolled in the Plan elect otherwise, their contribution rate automatically increases by an additional 1% of eligible compensation beginning on the first anniversary of their automatic enrollment date and will continue to increase by an additional 1% of eligible compensation annually until the 6% maximum pre-tax contribution rate for automatic contributions is reached. These participant contributions and Matching Contributions are invested in the Qualified Default Investment Alternative (the Growth Asset Allocation Fund), unless participants elect other investment option(s). Participants who are automatically enrolled in the Plan may change their contribution rate or opt out of the Plan at any time.

Matching Contribution rates for eligible Plan participants are consistent across all participating Employing Companies at a rate of 13313% on up to the first 3% of eligible compensation deferred and 100% on up to the next 3% of eligible compensation deferred.

Participants are allowed to transfer amounts from certain other tax qualified plans to the Plan (“Rollovers”). Rollovers are included as participant contributions in the Statements of Changes in Net Assets Available for Benefits. Rollovers for 2018 and 2017 were $30.4 million and $24.8 million, respectively.

Matching Contributions and any other amounts contributed by an Employing Company, including those transferred into the Plan, are deemed Employing Company contributions (“Employing Company Contributions”). Each participant’s account is credited with the participant’s contributions, Rollovers, Employing Company Contributions and any earnings or losses thereon, as appropriate. Participant contributions, Rollovers and any earnings thereon are fully vested.

Other than Employing Company Contributions that became fully vested on October 22, 2016 in connection with the change in control described above, Matching Contributions and earnings thereon generally vest 100% upon the completion of two years of service (or for eligible temporary and hourly employees, the completion of periods of service established by the Plan).

Matching Contributions and any earnings thereon also become fully vested upon a participant’s termination of service due to death or disability, attainment of age 65, or upon the termination of the Plan.

Forfeited Accounts

Forfeited Employing Company Contributions and earnings thereon may be used to reduce future Employing Company Contributions to the Plan and/or to pay Plan expenses. See the table below for forfeiture activity for the years ended December 31, 2018 and 2017 (thousands).

 

     December 31,
2018
     December 31,
2017
 

Balance at beginning of period

   $ 60      $ 427  

Additions to forfeiture balance

     3,154        2,970  

Forfeitures utilized

     (3,163      (3,337
  

 

 

    

 

 

 

Balance at end of period

   $ 51      $ 60  
  

 

 

    

 

 

 

 

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WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS – (Continued)

 

Notes Receivable From Participants

Under the Plan, subject to certain restrictions and penalties, participants may withdraw amounts and/or take loans from their accounts. The maximum number of loans a participant may have outstanding is limited to three at any one time, in the form of either one primary residence loan and two general loans or three general loans; provided, however, that if the primary residence loan was obtained by December 31, 2007, it does not limit the availability of the three general loans. The minimum loan amount is $1,000 and the maximum loan amount is $50,000.

Loans are valued at their outstanding balances, which approximate fair value, and are treated as transfers between the individual investment funds and the participant loan fund. Loan terms may be for up to five years or 15 years if for the purchase of a primary residence. Participants who have transferred accounts to the Plan with existing loans for the purchase of a primary residence may have loan terms of up to 30 years based on the provisions of the plan from which the original loan was obtained. Interest rates charged for loans originated under the Plan within any quarter are set at the prime rate in effect on the first day of such quarter plus 1%. Participants who have transferred accounts to the Plan with existing loans may be subject to different interest rates on those loans, as set in accordance with the provisions of the plan from which the original loan was obtained. Interest rates on outstanding participant loans as of December 31, 2018 and 2017 ranged from 4.25% to 10.50%.

Payment of Benefits

In-service withdrawals are available in certain limited circumstances, as provided under the Plan. Hardship withdrawals are allowed for participants incurring an “immediate and heavy financial need,” as defined by the Plan. Hardship withdrawals are strictly regulated under the Code and the regulations thereunder, and a participant must exhaust all available loan options and available distributions prior to requesting a hardship withdrawal.

Generally, on termination of service, participants are eligible to receive the vested portion of their account in a lump sum. However, subject to certain restrictions, the Plan permits other payment options. In addition, at the option of the participant, the commencement of payments may be deferred, subject to certain limitations. Benefits distributed from all investment funds in the Plan will be paid in cash, except for benefits distributed from the AT&T Inc. Stock (formerly the Time Warner Inc. Stock Fund), which also offers shares of AT&T common stock (previously Time Warner common stock) as a distribution election. Fractional shares are paid in cash.

Plan Termination

Although it has not expressed any intent to do so, WarnerMedia reserves the right to discontinue Employing Company Contributions or to terminate or modify the Plan at any time. In the event of termination of the Plan, participants will become fully vested in their accounts and the net assets of the Plan will be distributed to participants in accordance with the Plan’s provisions and applicable law.

2. Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting. Costs and expenses incurred for the purchase, sale or transfer of investments reflected in the accompanying financial statements are considered a cost of the investment or a reduction in the proceeds of a sale, as appropriate. Investment management fees and certain administrative costs are paid by the Plan’s investment funds and are included in Investment income, net of fees in the Statements of Changes in Net Assets Available for Benefits.

Payment of Benefits

Participant withdrawals are recorded when paid.

 

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WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS – (Continued)

 

Administrative Expenses

Certain administrative costs are charged to the Plan as permitted under ERISA, including, for example, fees for auditing, recordkeeping, custodial and trustee services. Other administrative costs, such as compensation of employees responsible for the administration of the Plan, are paid by Plan Sponsor.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Investment Valuation and Income Recognition

Investments held by the Plan, other than synthetic investment contracts, are stated at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). See Note 4 for additional information and disclosures related to fair value measurements.

Synthetic investment contracts are valued at contract value, which represents contributions made under the contract, plus interest at the contract rate, less withdrawals under the contract.

Purchases and sales of securities are recorded on a trade-date basis and trades of securities that have not settled are reported as receivables or payables, respectively, for securities sold or purchased. Interest income is recorded as earned. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation in the fair value of investments includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

Recent Accounting Standards

In July 2018, the Financial Accounting Standards Board issued Accounting Standards Update No. 2018-09 “Codification Improvements” (ASU-2018-09). ASU 2018-09 requires a plan to evaluate its investments to determine whether a readily determinable fair value exists or if investments qualify for the net asset value per share practical expedient and can be excluded from the fair value hierarchy disclosure. The new standard is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Plan is not early adopting this standard.

3. Investments

Plan investments are made in a variety of investment securities that are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of these investments, it is possible that changes in values could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

The Capital Preservation Fund, an investment fund available in the Plan, includes fully benefit-responsive synthetic investment contracts that are valued at contract value in the Statements of Net Assets Available for Benefits. In a synthetic investment contract, debt securities (such as fixed-income, asset-backed and mortgage-backed securities) are purchased and then a financial institution agrees to provide for liquidity and an adjustable rate of return thereon (a “Wrapper”), which, when taken together with the underlying securities, generally results in a guaranteed return of principal and accrued interest. As required for the IRS Form 5500 filing, these investments are valued at fair value in the Schedule of Assets (Held at End of Year). See Note 7 for a reconciliation of the financial statements to the Form 5500.

The Capital Preservation Fund and the Wrapper contracts purchased by that fund are designed to pay all participant-initiated transactions at contract value. However, the Wrapper contracts limit the ability of the fund to transact at contract value upon the occurrence of certain events. These events include, but are not limited to:

 

   

complete or partial termination of the Plan;

 

   

any change in law, regulation or administrative ruling applicable to the Plan that could have a material adverse effect on the fund’s cash flow;

 

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WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS – (Continued)

 

 

   

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; and

 

   

any early retirement program, group termination, group layoff, facility closing or similar program.

At this time, the occurrence of an event that would limit the ability of the Capital Preservation Fund to transact at contract value is not probable.

A Wrapper issuer may terminate a Wrapper contract at any time by providing the appropriate notification. In the event that the market value of the Capital Preservation Fund’s covered assets is below their contract value at the time of such termination, Fidelity, as the Capital Preservation Fund’s investment manager, may elect to keep the Wrapper contract in place through another Wrapper provider until such time as the market value of the Capital Preservation Fund’s covered assets is equal to their contract value. Plan participants will continue to receive the Capital Preservation Fund’s Crediting Rate (as defined below).

Interest income in the Capital Preservation Fund is accrued at the weighted-average return of individual fund investments, net of investment management and certain administrative fees (the “Crediting Rate”). The Crediting Rate is calculated daily. Wrapper contracts use the Crediting Rate formula to convert market value changes in the underlying assets into income distributions in order to minimize the difference between the market and contract value of the underlying assets over time. Using the Crediting Rate formula, an estimated future market value is calculated by compounding a portfolio’s current market value at such portfolio’s current yield to maturity for a period equal to such portfolio’s duration. The Crediting Rate is the discount rate that equates that estimated future market value with such portfolio’s current contract value. Crediting Rates are reset monthly. The Wrapper contracts are designed so that the Crediting Rate will not fall below 0%.

Certain investment managers of investment funds offered under the Plan are authorized to use derivative financial instruments, either directly or within a commingled fund structure, in accordance with established guidelines of the investment funds. Derivative financial instruments may be used for the purpose of managing interest rate and foreign exchange risk, and for yield enhancement. Changes in the fair value of derivative financial instruments are recorded in the Statements of Changes in Net Assets Available for Benefits; therefore, no gains or losses are deferred. At December 31, 2018 and 2017, the fair value of derivative financial instruments held by the Plan was not material. The derivative financial instruments held by the Plan at December 31, 2018 and 2017 consisted of interest rate and credit default swap contracts, futures contracts and interest rate option contracts.

4. Fair Value Measurements

ASC 820, Fair Value Measurement, establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

 

Level 1

Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

 

Level 2

Inputs to the valuation methodology include:

 

   

Quoted prices for similar assets and liabilities in active markets;

 

   

Quoted prices for identical or similar assets or liabilities in inactive markets;

 

   

Inputs other than quoted market prices that are observable for the asset or liability;

 

   

Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

 

Level 3

Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

 

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WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS – (Continued)

 

Valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Plan management believes its valuation methods are appropriate and consistent with 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. There have been no changes in the methodologies used at December 31, 2018 and 2017.

The following table presents information about the Plan’s assets and liabilities required to be carried at fair value on a recurring basis as of December 31, 2018 and 2017 (thousands):

 

     December 31, 2018     December 31, 2017  

Asset Category

   Level 1     Level 2     Total     Level 1     Level 2     Total  

Assets

            

Equity securities:

            

AT&T common stock

   $ 294,137     $ —       $ 294,137     $ —       $ —       $ —    

Time Warner common stock

     —         —         —         339,175       —         339,175  

Other common stocks

     1,532,472       —         1,532,472       1,634,589       —         1,634,589  

Mutual funds(a)

     348,664       —         348,664       363,486       —         363,486  

Fixed income securities:

            

U.S. government and agency securities

     —         261,992       261,992       —         237,901       237,901  

Other fixed income securities

     —         212,240       212,240       —         193,105       193,105  

Cash, cash equivalents and other investments:

            

Cash and cash equivalents

     33,108       25,299       58,407       28,545       12,272       40,817  

Derivatives

     323       278       601       133       439       572  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

     2,208,704       499,809       2,708,513       2,365,928       443,717       2,809,645  

Liabilities

            

Derivatives

     (41     (443     (484     (11     (275     (286

U.S. government and agency securities

     —         (1,079     (1,079     —         (2,150     (2,150
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 2,208,663     $ 498,287     $ 2,706,950     $ 2,365,917     $ 441,292     $ 2,807,209  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) 

At December 31, 2018 and 2017, mutual funds consisted of Fidelity Brokerage Link, DFA Emerging Markets Core Equity Portfolio Institutional Class Fund, PIMCO Priv ABS Sector Fund, PIMCO Short Term Floating NAV Portfolio II, and Fidelity Investments Money Market Government Portfolio.

Investments that are measured at fair value using the net asset value per share as a practical expedient have not been categorized in the fair value table above and are as follows (thousands):

 

     December 31,  

Asset Category

   2018      2017  

Commingled trust funds(a)

   $ 1,854,394      $ 1,909,766  

 

(a) 

At December 31, 2018, approximately 25% of the underlying securities held in commingled trust funds consisted of marketable fixed income securities and approximately 75% consisted of equity securities. At December 31, 2017, approximately 24% of the underlying securities held in commingled trust funds consisted of marketable fixed income securities and approximately 76% consisted of equity securities.

 

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WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS – (Continued)

 

There were no assets classified as Level 3 at December 31, 2018 or 2017.

Investments are recorded by the Plan on a trade date basis at fair value or contract value, as applicable. The following is a description of the valuation methodologies used for assets measured at fair value.

Commingled trust funds: Valued at the net asset value per unit at year end as reported to Fidelity by each fund company managing such trusts. Investments in the underlying commingled trust funds can generally be redeemed daily at net asset value.

Equity securities: Valued at the closing price at year end as reported on the active market on which the individual securities are traded.

Mutual funds: Valued at the closing price of shares held by the Plan at year end.

Fixed income securities: Valued at the closing price at year end as reported on the active market on which the individual securities are traded. Securities not traded on an active market are valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar securities, the securities are valued using a discounted cash flows approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks. Due to the subjectivity involved in this assessment, these investments may be classified in Level 3 of the fair value hierarchy. As of December 31, 2018 and 2017, there were no fixed income securities classified as level 3.

Cash equivalents and other investments: Cash equivalents consist of investments in short-term investment funds and money market funds valued at net asset value per unit equal to one dollar at year end. Other investments can consist of certificates of deposit, commercial paper, repurchase agreements, warrants, and futures, option and swap contracts. Certificates of deposit and repurchase agreements are valued at amortized cost, which approximates fair value. Commercial paper is valued using broker quotes that utilize observable market inputs. Warrants are valued based on the relationship of the exercise price to the value of the underlying security. Futures and option contracts are generally valued at closing settlement prices. Swap contracts are marked-to-market as the net amount due to and from the Plan in accordance with the terms of the contract based on the closing level of the relevant market rate of interest.

5. Transactions with Parties-in-Interest

Under the terms of the Plan and the Master Trust, WarnerMedia (formerly Time Warner) may elect to contribute shares of AT&T common stock (formerly Time Warner common stock) and/or cash for Employing Company Contributions to the Plan. There were no shares of Time Warner or AT&T common stock contributed in 2018 or 2017 as Employing Company Contributions to the Plan. The Plan may also purchase or sell shares of AT&T common stock (formerly Time Warner common stock) directly from or to AT&T (formerly Time Warner). There were no purchases or sales of either common stock by the Plan directly from or to AT&T or Time Warner in 2018 or 2017.

Certain Plan investments are managed by Fidelity. Fidelity has appointed JP Morgan Chase and State Street Bank to act as individual sub-custodians for certain Plan investments. Therefore, Fidelity’s management of such Plan investments and JP Morgan Chase’s and State Street Bank’s holdings of such investments as sub-custodians qualify as party-in-interest transactions; however, these transactions are exempt from the prohibited transaction rules under ERISA.

In addition, certain of the Plan’s investments are securities that have been issued by the Plan’s investment managers, custodian, sub-custodians, other service providers and their affiliated entities. The Plan’s investments in these securities also qualify as party-in-interest transactions; however, these transactions are exempt from the prohibited transactions rules under ERISA.

6. Tax Status of Plan

The Plan has received a determination letter from the IRS, dated April 14, 2015, stating that the Plan is qualified under Section 401(a) of the Code, subject to the Company’s adoption of certain amendments to the Plan. The Plan has been amended to comply with the determination letter issued by the IRS. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualified status. The plan administrator believes the Plan is being operated in compliance with the applicable requirements of the Code and therefore believes the Plan, as amended, is qualified and the related trust is tax exempt. The Plan is subject to audits, from time to time, by various authorities. The plan administrator believes the Plan’s information statement on Form 5500 is subject to examination for years after 2015.

 

10


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS – (Continued)

 

7. Reconciliation to Form 5500

The net assets of the Plan that are attributed to fully benefit-responsive investment contracts will be recorded at fair value on the 2018 IRS Form 5500 and related schedules. The following is a reconciliation of the Plan’s net assets available for benefits and changes in net assets available for benefits between the financial statements and Form 5500 (thousands):

 

     December 31,  
     2018      2017  

Net assets available for benefits per the financial statements

   $ 5,002,380      $ 5,184,581  

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

     (5,358      (509
  

 

 

    

 

 

 

Net assets per the Form 5500

   $ 4,997,022      $ 5,184,072  
  

 

 

    

 

 

 

 

     Year Ended
December 31,
2018
 

Net investment loss per the financial statements

   $ (199,069

Reversal of prior year adjustment from contract value to fair value for fully benefit-responsive investment contracts

     509  

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

     (5,358
  

 

 

 

Net investment loss per the Form 5500

   $ (203,918
  

 

 

 

 

11


Table of Contents

Supplemental Schedules


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan: #336

Schedule G, Part I—Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible

December 31, 2018

 

                      Amount Received
During Reporting
Year
            Amount Overdue  
(a)    (b)    (c)    (d)      (e)      (f)      (g)      (h)      (i)  

Party-in

Interest

   Identity and
Address of
Obligor
  

Detailed Description

of Loan Including Dates

of Making and Maturity,

Interest Rate, the Type

and Value of Collateral,

any Renegotiation of the

Loan and the Terms of

the Renegotiation and

Other Material Items

   Original
Amount
of Loan
     Principal      Interest      Unpaid
Balance
at End
of Year
     Principal      Interest  
   Kaupthing
Bank
  

KAUPTHING BK 5.75%

10/4/11 144A

   $ 120,000      $ —        $ —        $ 120,000      $ 120,000      $ —    
   Kaupthing
Bank
  

KAUPTHING BK 7.625%

2/28/15

     1,177,000        —          —          1,177,000        1,177,000        —    
   Landsbankinn   

LANDSBANK IS MTN 6.1%

8/25/11

     641,000        —          —          641,000        641,000        —    

 

13


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan: #336

Schedule H, Part IV, Line 4(a) – Schedule of Delinquent Participant Contributions

December 31, 2018

 

Participant Contributions
Transferred Late to the Plan
    Total That Constitute Nonexempt Prohibited Transactions  
Check Here if Late Participant
Loan Repayments are included:
    Contributions
Not Corrected
    Contributions
Corrected Outside
VCFP
    Contributions
Pending Correction
in VCFP
    Total Fully
Corrected Under
VCFP and PTE
2002-51
 
$ 30,319     $ 30,319     $     $       N/A  

 

14


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
   Commingled Trust Funds   
5,469,956    BlackRock Equity Index - Fund T*    $ 553,539,357  
2,614,331    BlackRock Extended Equity - Market Fund K*      242,759,751  
17,031,759    Blackrock MSCI ACWI ex-u.s. IMI Index Fund M*      206,637,818  
10,971,835    Blackrock MSCI ACWI Minimum Volatility Index Fund F*      134,843,849  
21,172,527    Blackrock US Debt Index Fund W*      458,557,819  
4,846,408    FIAM Select Global Plus*      80,208,050  
16,917,554    TS&W International Large Cap Equity Trust*      177,847,481  
     

 

 

 
   Total Commingled Trust Funds    $ 1,854,394,125  
10,306,145    AT&T Common Stock*    $ 294,137,378  
   Other Common Stocks   
106,890    2U INC    $ 5,314,571  
18,500    ABBOTT LABORATORIES      1,338,105  
10,072    ACCELERON PHARMA INC      438,636  
13,989    ACTIVISION BLIZZARD INC      651,468  
21,835    ADOBE INC      4,939,950  
68,600    ADTALEM GLOBAL EDUCATION INC      3,246,152  
71,090    ADVANCED DISPOSAL SERVICES INC      1,701,895  
610,000    AEGON NV (NY REGD) NEW YORK REGISTERED SHARES      2,836,500  
3,400    AGILENT TECHNOLOGIES INC      229,364  
10,200    AGIOS PHARMACEUTICALS INC      470,322  
1,899    AIR PRODUCTS & CHEMICALS INC      303,935  
8,125    ALASKA AIR GROUP INC      494,406  
23,742    ALDER BIOPHARMACEUTICALS INC      243,356  
24,617    ALEXION PHARMACEUTICALS INC      2,396,711  
104,207    ALIBABA GROUP HOLDING LTD SPON ADR      14,283,653  
9,700    ALIGN TECHNOLOGY INC      2,031,471  
93,072    ALLSCRIPTS HLTHCARE SOLS INC      897,214  
25,700    ALNYLAM PHARMACEUTICALS INC      1,873,787  
16,785    ALPHABET INC CL A      17,539,654  
47,535    ALPHABET INC CL C      49,227,722  
43,112    AMAZON.COM INC      64,752,931  
17,513    AMERICAN AIRLINES GROUP INC      562,342  
145,000    AMERICAN EXPRESS CO      13,821,400  
14,139    AMERICAN INTERNATIONAL GROUP      557,218  
632    AMERICAN TOWER CORP      99,976  
473    AMERIPRISE FINANCIAL INC      49,367  

 

15


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
78,275    AMETEK INC NEW    $ 5,299,218  
225,000    ANADARKO PETROLEUM CORP      9,864,000  
3,618    ANAPTYSBIO INC      230,792  
23,346    ANTHEM INC      6,131,360  
235,059    APACHE CORP      6,170,299  
5,639    APPFOLIO INC - A      333,942  
79,712    APPLE INC      12,573,770  
80,779    APTIV PLC      4,973,563  
53,984    ARES MANAGEMENT CORP CL A      959,836  
100,800    ASGN INC      5,493,600  
20,192    ASPEN TECHNOLOGIES      1,659,379  
101,437    ASSOCIATED BANC CORP      2,007,438  
300,000    ASTRAZENECA PLC SPONS ADR      11,394,000  
114,490    ATKORE INTERNATIONAL GROUP INC      2,271,482  
16,100    AUTODESK INC      2,070,621  
3,100    AUTOMATIC DATA PROCESSING INC      406,472  
310,030    BAKER HUGHES A GE CO      6,665,645  
34,427    BALL CORP      1,582,953  
592,600    BANK OF AMERICA CORPORATION      14,601,664  
265,000    BANK OF NEW YORK MELLON CORP      12,473,550  
24,018    BANKUNITED INC      719,099  
112,200    BB&T CORP      4,860,504  
147,355    BEACON ROOFING SUPPLY INC      4,674,101  
35,886    BECTON DICKINSON & CO      8,085,834  
50,730    BELDEN INC      2,118,992  
33,010    BENEFICIAL BANCORP INC      471,713  
81    BIOGEN INC      24,375  
13,832    BIOHAVEN PHARMACEUTICAL HOLDING CO LTD      511,507  
44,630    BLACK HILLS CORP      2,801,871  
79,500    BLACK KNIGHT INC      3,582,270  
14,029    BLACKBAUD INC      882,424  
34,494    BLACKLINE INC      1,412,529  
48,357    BOEING CO      15,595,133  
91,000    BOSTON SCIENTIFIC CORP      3,215,940  
106,320    BRIGHT HORIZONS FAMILY SOLUTIONS INC      11,849,364  
59,000    BRIGHTHOUSE FINANCIAL INC      1,798,320  
210,000    BRISTOL-MYERS SQUIBB CO      10,915,800  
1,549    BROADCOM INC      393,880  
6,977    BROADRIDGE FINANCIAL SOL      671,536  
131,044    BWX TECHNOLOGIES INC      5,009,813  
26,299    CACTUS INC CL A      720,856  

 

16


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
8,747    CALAVO GROWERS INC    $ 638,181  
6,282    CANADIAN PAC RAILWAY LTD      1,115,809  
194,500    CAPITAL ONE FINANCIAL CORP      14,702,255  
69,696    CARROLS RESTAURANT GROUP INC      685,809  
10,713    CASEY GENERAL STORES      1,372,764  
85,945    CATALENT INC      2,679,765  
1    CBOE GLOBAL MARKETS INC      98  
61,000    CELANESE CORP      5,488,170  
48,450    CELGENE CORP      3,105,160  
19,213    CENTENE CORP      2,215,259  
24,210    CHARLES RIVER LABS INTL INC      2,740,088  
59,078    CHARTER COMMUNICATIONS INC A      16,835,458  
53,493    CHEGG INC      1,520,271  
29,350    CHEMICAL FINANCIAL CORP      1,074,504  
6,800    CHIPOTLE MEXICAN GRILL INC      2,936,172  
27,895    CHOICE HOTELS INTL INC      1,996,724  
5,466    CHUBB LTD      706,098  
107,835    CIGNA CORP      20,480,023  
20,082    CINTAS CORP      3,373,575  
200,700    CISCO SYSTEMS INC      8,696,331  
2,000    CITIGROUP INC      104,120  
52,385    CLARUS CORP      530,136  
34,071    COGENT COMMUNICATIONS HOLDINGS INC      1,540,350  
20,453    COHERUS BIOSCIENCES INC      185,100  
26,578    COLUMBIA BANKING SYSTEMS INC      964,516  
843,395    COMCAST CORP CL A      28,717,600  
67,880    COMMERCIAL METALS CO      1,087,438  
56,163    COMMVAULT SYSTEMS INC      3,318,672  
32,500    CONCHO RESOURCES INC      3,340,675  
31,009    CONNECTONE BANCORP INC      572,736  
600    CONSTELLATION BRANDS INC CL A      96,492  
16,075    CORELOGIC INC      537,227  
21,490    CORE-MARK HOLDING CO INC      499,643  
2,792    CORNING INC      84,346  
28,797    COSTAR GROUP INC      9,714,380  
3,875    COUPA SOFTWARE INC      243,583  
166,350    CRAY INC      3,591,497  
26,560    CROWN HOLDINGS INC      1,104,099  
26,333    CSX CORP      1,636,069  
744    CTRIP.COM INTL LTD ADR      20,133  
76,900    CVS HEALTH CORP      5,038,488  
73,300    DANAHER CORP      7,558,696  

 

17


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
45,744    DELL TECHNOLOGIES INC CL C    $ 2,235,509  
34,615    DELTA AIR INC      1,727,289  
42,407    DESPEGAR.COM      526,271  
99,300    DISH NETWORK CORP A      2,479,521  
37,792    DOLLAR GENERAL CORP      4,084,559  
1,600    DOWDUPONT INC      85,568  
18,100    EDWARDS LIFESCIENCES CORP      2,772,377  
11,190    EL PASO ELECTRIC CO      560,955  
53,939    ELANCO ANIMAL HEALTH INC      1,700,697  
3,800    ELECTRONIC ARTS INC      299,858  
4,580    ELEMENT SOLUTIONS INC      47,311  
4,564    ENVESTNET INC      224,503  
33,920    EPAM SYSTEMS INC      3,935,059  
7,670    EQUITY COMMONWEALTH      230,177  
21,678    ESCO TECHNOLOGIES INC      1,429,664  
30,559    ETSY INC      1,453,692  
71,517    EURONET WORLDWIDE INC      7,321,910  
13,797    EVERBRIDGE INC      783,118  
79,740    EVO PAYMENTS INC CL A      1,967,186  
93,530    EXTRACTION OIL & GAS INC      401,244  
165,900    FACEBOOK INC CL A      21,747,831  
6,421    FAIR ISAAC CORP      1,200,727  
36,120    FEDERATED INVS INC CL B NV      958,986  
77,900    FEDEX CORP      12,567,607  
20,400    FERRARI NV      2,028,576  
111,830    FIDELITY NATL INFORM SVCS INC      11,468,167  
270,600    FIRST DATA CORP CL A      4,575,846  
40,113    FISERV INC      2,947,904  
29,901    FLEETCOR TECHNOLOGIES INC      5,553,214  
21,750    FORTIVE CORP      1,471,605  
50,949    GAP INC      1,312,446  
19,300    GARTNER INC      2,467,312  
44,559    GCI LIBERTY INC CL A      1,834,048  
103,580    GENPACT LTD      2,795,624  
85,000    GILEAD SCIENCES INC      5,316,750  
275,000    GLAXOSMITHKLINE PLC SPONS ADR      10,507,750  
10,105    GLOBAL BLOOD THERAPEUTICS INC      414,810  
137,478    GLOBAL PAYMENTS INC      14,178,107  
53,700    GOLDMAN SACHS GROUP INC      8,970,585  
16,418    GUIDEWIRE SOFTWARE INC      1,317,216  
109,120    GULFPORT ENERGY CORP      714,736  
35,008    HABIT RESTAURANTS INC CL A      367,584  

 

18


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
29,621    HAIN CELESTIAL GROUP INC    $ 469,789  
134,200    HALLIBURTON CO      3,567,036  
19,966    HAMILTON LANE INC - A      738,742  
2,120    HANOVER INSURANCE GROUP INC      247,552  
49,600    HARLEY-DAVIDSON INC      1,692,352  
11,509    HARRIS CORP      1,549,687  
8,062    HCA HEALTHCARE INC      1,003,316  
24,144    HEALTHCARE SERVICES GROUP INC      970,106  
6,916    HEALTHEQUITY INC      412,539  
18,127    HEICO CORP      1,404,480  
13,924    HENRY SCHEIN INC      1,093,312  
33,695    HERSHEY CO (THE)      3,611,430  
729,500    HEWLETT PACKARD ENTERPRISE CO      9,636,695  
23,778    HEXCEL CORPORATION      1,363,431  
20,726    HILTON WORLDWIDE HOLDINGS INC      1,488,127  
53,670    HOME DEPOT INC      9,221,579  
18,900    HONEYWELL INTL INC      2,497,068  
198,550    HOSTESS BRANDS INC CL A      2,172,137  
445,000    HP INC      9,104,700  
49,321    HUDSON LTD CL A      845,855  
9,000    HUMANA INC      2,578,320  
5,200    IAC/INTERACTIVECORP      951,808  
9,708    IDEX CORPORATION      1,225,732  
1,091    IHS MARKIT LTD      52,335  
9,968    ILLUMINA INC      2,989,702  
18,400    INCYTE CORP      1,170,056  
75,200    INFINEON TECH AG SPONS ADR      1,502,872  
33,600    INGEVITY CORP      2,811,984  
31,067    INTEGRA LIFESCIENCES HLDS CORP      1,401,122  
95,590    INTERCONTINENTAL EXCHANGE INC      7,200,795  
58,375    INTUIT INC      11,491,119  
14,585    INTUITIVE SURGICAL INC      6,985,048  
11,638    JOHN BEAN TECHNOLOGIES CORP      835,725  
333,920    JOHNSON CONTROLS INTERNATIONAL PLC      9,900,728  
156,792    JPMORGAN CHASE & CO*      15,306,035  
150,000    JUNIPER NETWORKS INC      4,036,500  
1,000    KANSAS CITY SOUTHERN      95,450  
100,420    KEARNY FINANCIAL CORP      1,287,384  
41,401    KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC CL A      1,037,923  
341,746    KOSMOS ENERGY LTD      1,390,906  
300    L3 TECHNOLOGIES INC      52,098  

 

19


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
200    LAM RESEARCH CORP    $ 27,234  
102,710    LIBERTY EXPEDIA HOLDINGS INC CL A      4,016,988  
110,700    LILLY (ELI) & CO      12,810,204  
51,099    LINDBLAD EXPEDITIONS HOLDINGS      687,793  
16,776    LITTELFUSE INC      2,876,748  
6,597    LOXO ONCOLOGY INC      924,042  
110,110    MAGNOLIA OIL & GAS CORPO CL A      1,234,333  
64,236    MAKEMYTRIP LIMITED      1,562,862  
22,866    MARRIOTT INTERNATIONAL INC A      2,482,333  
8,182    MARSH & MCLENNAN COS INC      652,515  
36,663    MARVELL TECHNOLOGY GROUP LTD      593,574  
62,394    MASTERCARD INC CL A      11,770,628  
177,400    MATTEL INC      1,772,226  
84,042    MAXIM INTEGRATED PRODUCTS INC      4,273,536  
5,757    MAXIMUS INC      374,723  
11,084    MCDONALDS CORP      1,968,186  
65,200    MEDTRONIC PLC      5,930,592  
9,900    MERCADOLIBRE INC      2,899,215  
22,375    MERCK & CO INC NEW      1,709,674  
62,200    MERCURY GENERAL CORP      3,216,362  
12,867    MERCURY SYSTEMS INC      608,480  
255,000    METLIFE INC      10,470,300  
185,021    MICRO FOCUS INTERNATIONAL PLC SPND ADR      3,184,211  
87,200    MICROCHIP TECHNOLOGY      6,271,424  
683,840    MICROSOFT CORP      69,457,629  
80,104    MIMECAST LTD      2,693,898  
21,460    MOELIS & CO CL A      737,795  
46,900    MOLSON COORS BREWING CO B      2,633,904  
109,344    MORGAN STANLEY      4,335,490  
37,400    MOTOROLA SOLUTIONS INC      4,302,496  
89,800    NATIONAL OILWELL VARCO INC      2,307,860  
46,805    NATIONAL VISION HOLDINGS INC      1,318,497  
85,940    NCR CORP      1,983,495  
77,828    NEOGENOMICS INC      981,411  
44,948    NETFLIX INC      12,030,782  
9,057    NEUROCRINE BIOSCIENCES INC      646,760  
74,200    NEWS CORP NEW CL A      842,170  
244    NEXTERA ENERGY      42,412  
81,100    NINTENDO LTD ADR      2,684,410  
1,800    NORFOLK SOUTHERN CORP      269,172  
600    NORTHERN TRUST CORP      50,154  
11,500    NORTHROP GRUMMAN CORP      2,816,350  

 

20


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
16,040    NORTHWESTERN CORP    $ 953,418  
9,441    NORWEGIAN CRUISE LINE HLDGS LTD      400,204  
169,900    NOVARTIS AG SPON ADR      14,579,119  
37,050    NUVASIVE INC      1,836,198  
20,388    NVIDIA CORP      2,721,799  
137,700    OCCIDENTAL PETROLEUM CORP      8,452,026  
135,395    PACWEST BANCORP      4,505,946  
17,233    PAYLOCITY HOLDING CORP      1,037,599  
183,398    PAYPAL HLDGS INC      15,421,938  
63,240    PENSKE AUTOMOTIVE GROUP INC      2,549,837  
40,071    PERFORMANCE FOOD GROUP CO      1,293,091  
223,280    PEYTO EXPL & DEV CORP NEW      1,157,942  
11,600    PFIZER INC      506,340  
600    PHILIP MORRIS INTL INC      40,056  
11,500    PIONEER NATURAL RESOURCES CO      1,512,480  
4,464    PRICESMART INC      263,822  
25,570    PRIMERICA INC      2,498,445  
123,125    PROGRESSIVE CORP OHIO      7,428,131  
16,644    PROSPERITY BANCSHARES INC      1,036,921  
303,676    QURATE RETAIL INC      5,927,756  
45,469    RAYMOND JAMES FINANCIAL INC.      3,383,349  
4,566    RED HAT INC      801,972  
116,000    REDWOOD TRUST INC REIT      1,748,120  
22,250    REGAL BELOIT CORP      1,558,613  
20,217    RESTAURANT BRANDS INTERNATIONAL INC      1,057,349  
40,210    REXNORD CORP NEW      922,820  
340,000    ROCHE HOLDING LTD SPON ADR      10,567,200  
18,500    ROCKWELL AUTOMATION INC      2,783,880  
11,200    ROPER TECHNOLOGIES INC      2,985,024  
44,100    ROSS STORES INC      3,669,120  
19,895    ROYAL CARIBBEAN CRUISES LTD      1,945,532  
95,760    RPC INC      945,151  
38,788    RUSH ENTERPRISES INC CL A      1,337,410  
6,600    S&P GLOBAL INC      1,121,604  
87,879    SALESFORCE.COM INC      12,036,787  
355,400    SANOFI SPON ADR      15,427,914  
35,725    SAREPTA THERAPEUTICS INC      3,898,669  
33,235    SBA COMMUNICATIONS CORP      5,380,414  
150,000    SCHLUMBERGER LTD      5,412,000  
602,011    SCHWAB CHARLES CORP      25,001,517  
4,793    SEMPRA ENERGY      518,555  
11,130    SENSIENT TECHNOLOGIES CORP      621,611  

 

21


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
51,851    SERVICENOW INC    $ 9,232,071  
12,415    SHERWIN WILLIAMS CO      4,884,806  
16,500    SHOPIFY INC CL A      2,284,425  
69,224    SITEONE LANDSCAPE SUPPLY INC      3,826,010  
35,200    SKYWEST INC      1,565,344  
293,300    SLM CORP      2,437,323  
63,850    SOUTH JERSEY INDUSTRIES INC      1,775,030  
17,982    SPLUNK INC      1,885,413  
500,989    SPRINT CORP      2,915,756  
93,890    SRC ENERGY INC      441,283  
4,400    STATE STREET CORP*      277,508  
50,560    STRYKER CORP      7,925,280  
136,669    SUMMIT MATERIALS INC CL A      1,694,696  
3,100    SYNOPSYS INC      261,144  
47,285    SYNOVUS FINANICAL CORP.      1,512,647  
32,100    TAKE-TWO INTERACTV SOFTWR INC      3,304,374  
12,800    TARGET CORP      845,952  
125,134    TD AMERITRADE HOLDING CORP      6,126,561  
90,300    TE CONNECTIVITY LTD      6,829,389  
13,700    TELEDYNE TECHNOLOGIES INC      2,836,859  
302,297    TENCENT HOLDINGS LTD UNS ADR      11,931,663  
38,550    TERRENO REALTY CORP      1,355,804  
14,486    TESLA INC      4,820,941  
21,697    TEXAS INSTRUMENTS INC      2,050,367  
11,541    THE BOOKING HOLDINGS INC      19,878,449  
19,877    THERMO FISHER SCIENTIFIC INC      4,448,274  
17,140    TIMKEN CO      639,665  
35,304    TOPBUILD CORP      1,588,680  
35,164    TORCHMARK CORP      2,620,773  
36,900    TOTAL SYS SVCS INC      2,999,601  
74,085    TRANSUNION      4,208,028  
86,200    TWENTY FIRST CENTURY FOX CL B      4,118,636  
249,700    TWENTY FIRST CENTURY FOX INC-A      12,015,564  
885    ULTA BEAUTY INC      216,683  
51,841    ULTIMATE SOFTWARE GROUP INC      12,694,306  
15,110    UMB FINANCIAL CORP      921,257  
48,240    UNION BANKSHARES CORP      1,361,815  
71,693    UNION PACIFIC CORP      9,910,123  
23,551    UNITED CONTINENTAL HLDGS INC      1,971,925  
39,880    UNITED FIRE GROUP INC      2,211,346  
66,000    UNITED TECHNOLOGIES CORP      7,027,680  
123,303    UNITEDHEALTH GROUP INC      30,717,243  

 

22


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
137,629    UNIVAR INC    $ 2,441,538  
17,300    VAIL RESORTS INC      3,647,186  
104,011    VERINT SYSTEMS INC      4,400,705  
67,200    VERISK ANALYTICS INC      7,327,488  
71,542    VERTEX PHARMACEUTICALS INC      11,855,225  
261,470    VISA INC CL A      34,498,351  
13,632    VMWARE INC CL A      1,869,356  
21,000    VULCAN MATERIALS CO      2,074,800  
185,631    WASTE CONNECTIONS INC      13,783,103  
240,000    WEATHERFORD INTERNATIONA PLC      134,160  
31,118    WEBSTER FINANCIAL      1,533,806  
102,395    WELBILT INC      1,137,608  
38,925    WELLCARE HEALTH PLANS INC      9,189,803  
400,000    WELLS FARGO & CO      18,432,000  
32,929    WEX INC      4,612,036  
3,350    WHITE MOUNTAINS INS GROUP LTD      2,873,262  
20,898    WILLIS TOWERS WATSON PLC      3,173,570  
16,147    WOODWARD INC      1,199,561  
29,534    WORKDAY INC CL A      4,715,989  
34,604    WORKIVA INC      1,241,938  
27,002    WORLDPAY INC      2,063,763  
593    WYNN RESORTS LTD      58,654  
9,451    XILINX INC      804,942  
2,500    XYLEM INC      166,800  
19,958    YUM BRANDS INC      1,834,539  
115,000    ZAYO GROUP HOLDINGS INC      2,626,600  
22,703    ZEBRA TECHNOLOGIES CORP CL A      3,614,999  
3,400    ZOETIS INC CL A      290,836  
42,149    ZUORA INC CL A      764,583  
210,126    ZYNGA INC      825,795  
     

 

 

 
   Total Other Common Stocks    $ 1,532,471,772  
   Synthetic Investment Contracts**   
7,866,915    CASH    $ 7,866,915  
350,000    ABBOTT LAB 2.9% 11/30/21      347,394  
644,000    ABBVIE INC 2.5% 05/14/20      639,897  
339,000    ACE INA HOLDING 2.3% 11/03/20      335,410  
1,247,000    ACTAVIS FUNDING SCS 3% 3/12/20      1,253,360  
385,000    AERCAP IRELAND 4.125% 07/03/23      383,105  
401,000    AIG INTL GRP 4.875% 6/01/22      417,657  
583,000    AIR LEASE CORP 2.5% 3/01/21      573,183  
740,000    AIR LEASE CORP 2.625% 07/01/22      711,127  

 

23


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
510,000    AMERICAN EXPRESS 2.25% 5/05/21    $ 500,852  
1,000,000    AMERICAN EXPRESS 2.6% 09/14/20      997,316  
750,000    AMERICAN HONDA FIN 1.7% 9/9/21      724,955  
1,255,000    AMERICAN INTL GROUP 2.3% 7/19      1,262,989  
266,000    AMERICAN INTL GRP 3.3% 3/01/21      268,015  
555,000    AMGEN INC 2.125% 05/01/2020      549,493  
440,000    AMGEN INC 2.2% 05/22/19      439,351  
746,000    AMOT 2017-3 A2 2.04% 6/22      735,998  
1,010,000    AMOT 2018-1 A2 2.7% 01/23      1,003,537  
1,270,000    AMOT 2018-2 A 3.29% 05/23      1,279,134  
177,000    AMPHENOL CORP NEW 3.2% 4/1/24      173,030  
1,429,000    AMXCA 2017-1 A 1.93% 09/22      1,413,325  
1,050,000    AMXCA 2017-3 A 1.77% 11/22      1,035,803  
865,000    AMXCA 2017-6 A 2.04% 05/23      852,446  
1,006,000    AMXCA 2018-4 A 2.99% 12/15/23      1,009,977  
1,030,000    AMXCA 2018-6 A 0% 02/24      1,035,093  
524,000    ANHUESER-BUSCH 2.65% 2/01/21      520,828  
1,154,000    ANHUESER-BUSCH IN 3.3% 2/01/23      1,139,474  
695,000    ANTHEM INC 2.95% 12/01/22      679,461  
536,000    AT&T INC 2.45% 06/30/20*      528,978  
1,000,000    AT&T INC 2.8% 02/17/21*      997,438  
713,000    AUTOZONE 3.125% 7/15/23      702,735  
292,000    AVALONBAY COMM 3.625% 10/1/20      296,276  
95,000    AXA EQUITABLE 3.9% 4/23 144A      94,548  
1,285,000    BACCT 2017-A1 A1 1.95% 08/22      1,270,777  
1,177,000    BACCT 2017-A2 A2 1.84% 1/23      1,156,892  
1,250,000    BACCT 2018-A1 A1 2.7% 04/23      1,247,012  
1,017,000    BACCT 2018-A2 A2 3% 09/23      1,021,230  
1,000,000    BAE SYSTEMS 2.85% 12/15/20      987,895  
500,000    BANK AMER FDG 2.25% 4/21/20      496,775  
800,000    BANK NOVA SCOTIA 2.8% 07/21/21      803,005  
1,000,000    BANK OF AMER 2.625% 10/19/20      994,581  
1,010,000    BANK OF AMERICA 2.625% 4/19/21      1,001,529  
2,000,000    BANK OF AMERICA CO 3.864% 7/24      2,029,029  
520,000    BANK TOKYO-MSB 2.3% 03/20 144A      518,860  
1,000,000    BARCLAYS BANK 2.65% 01/11/21      991,610  
750,000    BARCLAYS BANK 4.338% 5/16/24      733,209  
450,000    BARCLAYS PLC 2.75% 11/8/19      448,548  
500,000    BARCLAYS PLC 2.875% 06/20      491,654  
568,000    BARCLAYS PLC 3.25% 01/12/21      564,907  
1,020,000    BAT INTL FIN 2.75% 6/20 144A      1,003,310  

 

24


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
760,000    BAT INTL FIN 3.5% 6/22 144A    $ 744,720  
386,000    BERKSHIRE HATH 2.2% 3/15/21      383,424  
1,110,000    BERKSHIRE HATHAWA 2.8% 1/15/23      1,099,563  
1,595,000    BK OF AMER 3.004%/VAR 12/20/23      1,549,980  
1,073,000    BMARK 2018-B2 A2 3.6623% 02/51      1,090,867  
628,000    BMARK 2018-B7 A2 4.377% 05/53      659,365  
732,000    BMARK 2018-B8 A2 4.2122% 01/52      761,595  
1,000,000    BMW US 2.7% 04/06/22 144A      977,590  
930,000    BMWFT 2018-1 A1 3.15% 5/23      933,130  
510,000    BMWLT 2017-2 A3 2.07% 10/20      506,534  
460,000    BMWLT 2018-1 A3 3.06% 07/21      462,633  
1,000,000    BNK OF NOVA SCOTIA 2.7% 3/7/22      986,685  
634,000    BNP PARIBA 2.45% 03/17/19      637,754  
530,000    BP CAP MKTS PLC 2.521% 1/20      532,511  
883,000    BP CAPITAL MKT PLC 2.315% 2/20      883,186  
540,000    BPCE SA 2.5% 7/15/19      544,152  
718,000    BRITISH TELECOM PLC 2.35% 2/19      723,461  
532,000    BWSTA 18-1 A3 3.52% 12/22 144A      536,149  
636,000    CAN NATURAL RES 3.45% 11/15/21      634,196  
1,000,000    CANADIAN IMP BANK 2.55% 6/22      974,762  
1,500,000    CAPITAL ONE FIN 3.2% 1/30/23      1,479,732  
1,000,000    CAPITAL ONE NA 1.85% 9/13/19      994,617  
683,090    CARMX 16-4 A3 1.4% 08/21      675,583  
46,156    CARMX 2015-3 A3 1.63% 06/20      46,133  
404,000    CARMX 2017-3 A3 1.97% 04/22      399,943  
431,000    CARMX 2017-4 A3 2.15% 10/22      426,988  
551,000    CARMX 2018-2 A3 2.98% 01/23      554,941  
649,000    CARMX 2018-4 A3 3.36% 09/23      654,415  
714,000    CATERPILLAR FINL 2.1% 01/10/20      714,073  
1,282,000    CCCIT 2016-A1 A1 0% 11/21      1,271,014  
1,165,000    CCCIT 2017-A3 A3 1.92% 04/22      1,155,360  
1,000,000    CCCIT 2017-A8 A8 1.86% 8/8/22      991,144  
1,044,000    CCCIT 2017-A9 A9 1.8% 09/21      1,040,853  
1,268,000    CCCIT 2018-A1 A1 2.539% 01/23      1,271,895  
137,000    CGCMT 13-GC11 A4 3.093% 04/46      136,366  
363,000    CGCMT 13-GC15 A4 4.371% 9/46      380,386  
479,000    CGCMT 13-GC17 A4 4.131% 11/46      497,418  
565,000    CGCMT 16-GC36 AAB 3.368% 02/49      568,332  
527,000    CGCMT 2012-GC8 A4 3.024% 9/45      526,030  
951,000    CGCMT 2014-GC23 A3 3.356% 7/47      953,800  
860,810    CGCMT 2015-GC29 A2 2.674% 4/48      858,349  
473,000    CGCMT 2017-P7 A2 3.199% 04/50      475,893  

 

25


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
1,285,000    CHAIT 2016-A2 A 1.37% 06/15/21    $ 1,276,119  
1,310,000    CHAIT 2016-A5 A5 1.27% 07/21      1,299,257  
468,000    CHEVRON PHIL 2.45% 5/1/20 144A      465,572  
602,000    CHEVRON PHIL 3.3% 5/23 144A      598,754  
419,000    CITIGROUP 3.124%/VAR 1/24/23      417,287  
1,000,000    CITIGROUP INC 2.35% 08/02/21      981,148  
500,000    CITIGROUP INC 2.45% 1/10/20      501,750  
530,000    CITIGROUP INC 2.5% 7/29/19      533,791  
800,000    CITIGROUP INC 2.75% 04/25/2022      779,676  
771,000    CITIGROUP INC 4.4% 6/10/25      756,840  
1,892,000    CITIZENS BANK NA 2.55% 5/13/21      1,856,889  
525,000    CITIZENS BANK NA 2.65% 5/26/22      511,384  
800,000    CITIZENS BK MTN 2.45% 12/04/19      795,810  
93,000    CITIZENS FINCL 2.375% 7/28/21      91,527  
918,000    CNH 2018-A A3 3.23% 07/23      921,952  
2,113,000    COMCAST CORP 1.625% 01/15/22      2,037,955  
590,000    COMCAST CORP 4% 10/15/25      602,822  
1,000,000    COMCAST CORP NEW 3.7% 04/24      1,014,873  
289,000    COMET 2015-A2 A2 2.08% 03/23      285,796  
713,000    COMET 2015-A8 A8 2.05% 08/23      703,145  
567,000    COMET 2016-A3 A3 1.34% 04/22      562,972  
1,042,000    COMET 2016-A4 A4 1.33% 6/15/22      1,032,085  
1,043,000    COMET 2017-A3 A3      1,032,460  
1,040,000    COMET 2017-A4 A4 1.99% 07/23      1,024,659  
671,000    COMET 2018-A1 A1 3.01% 02/24      675,442  
408,000    COMM 15-CR23 ASB 3.257% 05/48      410,617  
271,000    COMM 15-CR26 ASB 3.373% 10/48      273,932  
1,649,657    COMM 2010-C1 A3 4.205 7/46      1,675,774  
1,280,000    COMM 2012-CR2 A3 2.841 8/45      1,267,423  
520,492    COMM 2012-CR3 A3 2.822% 10/45      513,173  
525,365    COMM 2012-CR3 ASB 2.372% 11/45      520,278  
1,119,000    COMM 2012-LC4 A4 3.288% 12/44      1,122,006  
611,000    COMM 2013-CR6 A4 3.101% 03/46      609,150  
794,252    COMM 2013-CR7 A4 3.213% 03/46      795,516  
373,000    COMM 2013-CR8 A5 3.612% 06/46      378,920  
489,251    COMM 2014-CR18 A2 2.924% 07/47      489,322  
356,000    COMM 2015-CR22 A2 2.856% 03/48      355,808  
399,000    COMM 2015-CR22 ASB 3.144% 3/48      399,909  
530,000    COMMONWEALTH BK NY 2.3% 9/6/19      531,285  
1,040,000    COMMWLTH BK ASTL NYB 2.3% 3/20      1,036,242  
561,000    COMPASS BANK 2.875% 6/29/22      537,626  
753,000    COMPASS BK BIRM 3.5% 6/11/21      752,336  

 

26


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
381,000    CONSOLIDATED EDISON 2% 5/15/21    $ 370,585  
606,000    CPART 17-1A A3 2.05% 03/21      602,221  
804,000    CPART 18-2A A3 3.429% 12/22      810,981  
852,000    CPART 2018-1A A3 3.088% 11/21      852,887  
530,000    CREDIT SUISSE NY 2.3% 5/19      529,550  
550,000    CREDIT SUISSE NY 3% 10/29/21      545,843  
797,000    CSAIL 17-CX9 A2 3.0538% 09/50      793,325  
273,000    CSAIL 2015-C2 ASB 3.2241% 6/57      272,857  
458,000    CVS HEALTH CORP 2.8% 07/20/20      459,529  
1,279,000    CVS HEALTH CORP 3.35% 03/09/21      1,288,057  
1,023,000    CVS HEALTH CORP 3.7% 03/09/23      1,023,766  
519,000    DAIMLER FIN 2.25% 3/20 144A      515,843  
1,000,000    DAIMLER FIN 2.3% 2/12/21 144A      984,494  
618,000    DAIMLER FIN 2.85% 1/6/22 144A      612,178  
1,100,000    DAIMLER FIN NA 2.25% 9/19 144A      1,101,096  
1,000,000    DAIMLER FIN NA 2.45% 5/20 144A      990,894  
181,000    DANAHER CORP 2.4% 09/15/20      180,588  
902,931    DBUBS 2011-LC2A A4 4.537% 7/44      931,738  
1,827,000    DCENT 2015-A2 A 1.9% 10/22      1,803,362  
1,000,000    DCENT 2015-A4 A4 2.19% 04/23      990,049  
732,000    DCENT 2016-A3 A3 1.85% 10/23      717,789  
1,042,000    DCENT 2016-A4 A4 1.39% 3/22      1,031,148  
787,000    DCENT 2017-A6 A6 1.88% 2/15/23      774,922  
1,288,000    DCENT 2018-A5 A5 3.32% 03/24      1,305,585  
316,000    DEFT 18-1 A3 3.39% 06/23      316,353  
446,000    DEFT 2018-2 A3 3.44% 10/23      448,335  
1,324,000    DEUTSCHE BANK AG 2.5% 2/13/19      1,334,173  
1,290,000    DEUTSCHE BANK AG 2.85% 5/10/19      1,287,458  
1,030,000    DIAMOND 1 FI 3.48% 6/1/19 144A      1,029,947  
1,237,000    DIAMOND FN 1/2 5.45% 6/23 144A      1,261,746  
384,000    DIGITAL REALTY TR 2.75% 2/1/23      371,251  
1,044,000    DISCOVER BANK 3.1% 06/20      1,039,123  
292,000    DISCOVER BANK 3.35% 2/06/23      288,145  
392,000    DISNEY (WALT)MTN 2.35 12/01/22      381,461  
305,000    DOMINION RESOURCE 2% 8/15/21      295,356  
294,000    DUKE ENERGY 1.8% 9/1/21      283,156  
844,000    DUKE ENERGY CORP 3.05% 3/15/23      844,147  
109,000    ENTERPRISE PRD 2.55% 10/15/19      109,010  
407,000    ENTERPRISE PROD 2.85% 4/15/21      405,373  
653,000    EVERSOURCE ENERGY 2.5% 3/15/21      646,569  
148,000    EXELON CORP 2.85% 6/15/20      146,992  
460,000    EXELON CORP VAR 06/01/2022      450,829  

 

27


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
409,000    EXPRESS SCRIPTS 4.75% 11/21    $ 423,172  
231,000    EXPRESS SCRIPTS HLD 2.6% 11/20      227,859  
1,010,000    EXXON MOBIL CORP 2.222% 3/1/21      1,002,904  
792,000    EXXON MOBIL CORP 2.726% 3/1/23      785,990  
77,534    FHLG        5.50% 3/34 #G01665      83,429  
587,568    FHLG        5.50% 5/34 #Z40042      631,270  
1,316,005    FHLG 15YR 3.50% 10/26 #G14450      1,339,746  
80,360    FHLG 15YR 4.00% 4/26 #E02867      82,612  
136,362    FHLG 15YR 4.00% 9/25 #E02787      139,988  
2,825    FHLG 15YR 5.00% 4/20 #G13598      2,855  
122,694    FHLG 15YR 2.5% 06/23#G14775      122,209  
50,817    FHLG 15YR 2.5% 09/22#J20415      50,680  
1,153,945    FHLG 15YR 2.5% 10/31#G16387      1,138,596  
1,457,801    FHLG 15YR 3% 05/29#J29409      1,463,787  
606,921    FHLG 15YR 3.5% 08/30#G15273      617,871  
1,021,983    FHLG 20YR 3% 11/33#G30872      1,026,101  
556,933    FHLG 20YR 3.5% 05/38#G31067      566,808  
891,294    FHLG 20YR 3.5% 06/32#C91456      907,096  
52,930    FHLG 25YR 5.50% 7/35 #G05815      56,917  
250,000    FHMS 2013-K025 A2 2.682% 10/22      248,708  
243,539    FHMS 2017-K727 A1 2.632% 10/23      242,263  
330,949    FHMS 2018-K079 A1 3.729% 02/28      342,258  
1,189,000    FHMS K035 A2 3.458% 08/23      1,216,310  
346,073    FHMS K724 A1 2.776% 03/23      345,145  
97,129    FHR 2012-4135 AB 1.75% 06/42      93,288  
607,419    FHR 2015-4472 WL 3% 05/45      607,941  
2,253,780    FHR 2018-4765 QA 3% 02/46      2,247,194  
2,117,533    FHR 2018-4766 MA 3.5% 02/46      2,157,244  
54,400    FHR 3415 PC 5% 12/37      58,066  
1,179,171    FHR 4656 PA 3.5% 10/45      1,202,047  
1,370,079    FHR 4683 EA 2.5% 05/47      1,341,539  
1,480,062    FHR 4847 CA 3.5% 11/15/45      1,503,556  
1,000,000    FIFTH THIRD BAN 2.375% 4/25/19      1,002,293  
500,000    FIFTH THIRD BAN 2.875% 7/27/20      503,053  
645,000    FITAT 2017-1 A3 1.8% 02/22      638,489  
22,154    FNMA        6.50% 7/32 #545759      24,867  
7,672    FNMA        6.50% 7/32 #545762      8,610  
9,932    FNMA        6.50% 7/35 #745092      11,200  
15,149    FNMA        6.50% 8/36 #888034      16,989  
7,933    FNMA        6.50% 12/32 #735415      8,904  
188,186    FNMA 10YR 2.5% 05/23 #MA1431      187,543  
79,642    FNMA 10YR 2.5% 10/22#AB6544      79,372  

 

28


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
71,208    FNMA 10YR 2.5% 10/22#AB6730    $ 70,965  
119,753    FNMA 15YR 3.50% 1/26 #AL1168      121,865  
541,661    FNMA 15YR 3.50% 3/27 #AL1746      551,840  
331,891    FNMA 15YR 3.50% 5/27 #AL1741      338,243  
121,033    FNMA 15YR 3.50% 5/27 #AL1751      123,349  
2,293,883    FNMA 15YR 3% 09/31#AL8853      2,307,065  
215,787    FNMA 15YR 3.5% 01/27 #AX1909      219,917  
47,113    FNMA 15YR 3.5% 07/26#AI7819      47,971  
497,727    FNMA 15YR 3.5% 09/29#AL5878      507,097  
200,485    FNMA 15YR 3.5% 10/29#AL5851      204,259  
1,334,193    FNMA 15YR 4% 08/27#BM4533      1,369,894  
281,223    FNMA 15YR 4.5% 11/25#AL8242      290,920  
270,762    FNMA 20YR 2.5% 01/33#AL2974      265,738  
303,557    FNMA 20YR 2.5% 01/33#AL2975      297,924  
182,490    FNMA 20YR 2.5% 01/33#AL2976      179,104  
214,653    FNMA 20YR 2.5% 01/33#AL2982      210,670  
1,574,436    FNMA 3.5% 07/32#BM3929      1,603,334  
421,314    FNMA 5.50% 11/34 #310105      453,775  
80,418    FNMA 6.50% 12/35 #AD0723      90,263  
66,043    FNMA 6.50% 8/36 #888544      74,262  
54,888    FNMA 6.50% 8/36 #AE0746      61,694  
445,879    FNR 2011-26 PA 4.5% 04/41      467,660  
128,594    FNR 2012-149 DA 1.75% 01/43      123,463  
1,238,584    FNR 2013-16 GP 3% 03/33      1,240,599  
766,981    FNR 2014-83 P 3% 06/43      766,175  
1,053,027    FNR 2015-28 JE 3% 05/45      1,049,063  
1,532,845    FNR 2015-28 P 2.5% 5/45      1,501,288  
593,531    FNR 2015-32 PA 3% 4/44      592,969  
896,734    FNR 2015-42 LE 3% 06/45      892,085  
660,576    FNR 2015-49 LE 3% 07/45      660,643  
796,860    FNR 2015-54 GA 2.5% 07/45      784,134  
1,432,868    FNR 2016-100 P 3.5% 11/44      1,453,706  
947,632    FNR 2016-105 PA 3.5% 4/45      964,645  
689,591    FNR 2016-19 AH 3% 04/46      689,835  
1,779,215    FNR 2016-26 CG 3% 05/46      1,775,142  
897,993    FNR 2016-27 HK 3% 01/41      893,877  
440,763    FNR 2016-27 KG 3% 01/40      440,287  
1,747,764    FNR 2016-34 GH 3% 06/46      1,741,268  
1,849,056    FNR 2016-37 BK 3% 06/46      1,844,937  
1,516,733    FNR 2017-11 HA 3.5% 12/45      1,543,578  
1,719,389    FNR 2017-20 AP 3.5% 03/45      1,749,668  
1,559,722    FNR 2017-74 PA 3.5% 11/45      1,588,079  

 

29


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
1,066,849    FNR 2017-97 P 3% 01/47    $ 1,059,293  
1,351,262    FNR 2018-11 LA 3.5% 7/45      1,375,174  
1,051,807    FNR 2018-16 NB 3.25% 12/44      1,060,831  
2,995,321    FNR 2018-3 LP 3% 02/47      2,982,579  
6,668,783    FNR 2018-44 PA 3.5% 06/44      6,739,602  
2,090,835    FNR 2018-88 BA 4% 11/25/43      2,154,326  
1,385,000    FORD CRD 16-1 A 2.31% 08/27      1,367,544  
500,000    FORD MTR CR CO 2.681% 01/09/20      498,069  
1,000,000    FORD MTR CR CO 4.14% 2/15/23      966,097  
445,000    FORD MTR CR LLC 3.339% 3/28/22      423,860  
968,000    FORDF 2016-1 A1 1.76% 02/21      966,918  
988,000    FORDF 2016-3 A1 1.55% 07/21      981,028  
1,042,000    FORDF 2017-2 A1 2.16% 09/22      1,027,558  
1,000,000    FORDF 2018-1 A1 2.95% 5/21      998,623  
256,325    FORDO 16-B A3 1.33% 10/20      255,300  
188,022    FORDO 2016-A A3 2.01% 07/20      187,626  
849,952    FORDO 2017-A A3 1.67% 6/21      844,105  
999,000    FORDO 2018-A A3 3.03% 11/22      1,000,810  
565,000    FORDR 2014-2 A 2.31% 04/26      561,616  
538,000    FORDR 2015-2 A 2.44% 01/27      534,063  
370,000    FORTIVE CORP 2.35% 06/15/21      361,146  
1,106,000    GENERAL ELEC CO 3.375% 3/11/24      1,044,462  
190,000    GENERAL MILLS INC 3.2% 4/16/21      190,266  
1,114,000    GENERAL MTR FIN 4.15% 06/19/23      1,086,920  
739,000    GENERAL MTRS FIN 2.65% 4/13/20      731,721  
633,000    GENERAL MTRS FINL 3.55% 4/9/21      629,332  
770,000    GFORT 16-1 A1 1.86% 05/21      767,138  
825,000    GFORT 17-1 A1 2.22% 1/22 144A      818,561  
968,000    GFORT 2018-2 A1 3.25% 3/23      969,436  
557,000    GMALT 2018-2 A3 3.1% 06/21      556,684  
463,000    GMCAR 2018-1A A3 2.39% 7/18/22      458,679  
483,000    GOLDMAN SAC BK USA 3.2% 6/5/20      483,170  
529,000    GOLDMAN SACHS 2.876%/VAR 10/22      516,324  
878,000    GOLDMAN SACHS GRP 2.75 9/15/20      875,877  
1,250,000    GOLDMAN SACHS GRP 3.2% 2/23/23      1,226,608  
389,000    GSINC 5.25% 7/27/21      412,538  
662,000    GSMC 14-GC26 AAB 3.365% 11/47      668,191  
138,000    GSMS 14-GC18 AAB 3.648% 01/47      139,876  
160,000    GSMS 14-GC20 AAB 3.655% 04/47      162,715  
354,000    GSMS 15-GC32 AAB 3.513% 7/48      359,128  
549,923    GSMS 2012-GC6 A3 3.482% 01/45      557,403  
1,312,198    GSMS 2012-GCJ9 A3 2.773% 11/45      1,297,242  

 

30


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
191,295    GSMS 2013-GC10 A4 2.681% 02/46    $ 187,752  
1,066,000    GSMS 2013-GC10 A5 2.943% 02/46      1,055,241  
438,000    GSMS 2015-GC28 AAB 3.206% 2/48      439,756  
1,000,000    GUARDIAN LIFE 3.4% 4/23 144A      1,002,421  
462,000    HALFMOON P 3.75% 07/15/23 144A      465,438  
904,000    HALFMOON PA 3.4% 9/17/21 144A      910,785  
17,974    HAROT 2015-4 A3 1.23% 09/23/19      17,971  
757,487    HAROT 2017-1 A3 1.72% 07/21      751,336  
18,968    HART 2015-C A3 1.46% 02/20      18,968  
137,880    HART 2016-A A3 1.56% 09/20      137,456  
809,828    HART 2016-B A3 1.29% 4/21      802,439  
643,000    HART 2018-A A3 2.79% 07/22      643,283  
550,000    HFMOT 2016-1A A2 1.81% 03/21      548,203  
1,030,000    HSBC HLDNGS 3.262/VAR 3/13/23      1,018,051  
750,000    HSBC HOLDINGS 3.95%/VAR 5/24      749,444  
211,625    HUNT AUTO 16-1 A3 1.57% 11/20      210,874  
750,000    HUNTINGTN BCSHRS 2.3% 1/14/22      732,103  
1,157,000    HUNTINGTON NATL BK 3.25% 5/21      1,158,988  
510,000    HYUNDAI CAP AM 2.6% 3/20 144A      507,186  
145,000    INGERSOLL-RND LX 2.625% 5/1/20      144,194  
625,000    INTERCO EXCH INC 3.45% 9/21/23      635,654  
668,000    INTERCONT EXCH 2.75% 12/01/20      665,216  
654,000    ITC HLDGS CORP 2.7% 11/15/22      634,363  
971,000    JAPAN BANK INTL 1.5% 7/21/21      946,329  
443,000    JPMBB 14-C22 ASB 3.5036% 09/47*      446,543  
500,000    JPMC CO 2.55% 10/29/20*      496,542  
1,000,000    JPMC CO 3.559%/VAR 04/23/24*      999,101  
915,000    JPMCC 13-C10 A5 3.1425% 12/47*      910,521  
607,000    JPMCC 16-JP4 A2 2.9343% 12/49*      602,856  
366,706    JPMCC 2012-C6 A3 3.5074 5/45*      369,510  
524,866    JPMCC 2012-C8 A3 2.8291% 10/45*      516,933  
561,000    JPMCC 2015-JP1 A2 3.1438% 1/49*      559,868  
1,540,000    JPMORGAN CHASE & CO 2.75% 6/20*      1,531,876  
790,000    JPMORGAN CHASE &CO2.25%1/23/20*      789,845  
1,000,000    JPMORGAN CHASE 3.514% 6/18/22*      1,003,493  
1,300,000    JPMORGAN CHASE 4.023/VAR 12/24*      1,314,763  
1,276,000    KCOT 2018-1A A3 3.1% 08/22      1,284,009  
413,000    KEY BANK NA 2.5% 12/15/19      410,930  
379,000    KINDER MORGAN IC 3.05% 12/1/19      377,784  
672,000    LOCKHEED MARTIN 2.5% 11/23/20      666,274  
525,000    MANUFACT & TRADE 2.5% 5/18/22      511,525  
450,000    MANUFCTRS & TRDR 2.1% 02/06/20      448,922  

 

31


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
780,000    MARSH & MCLENN 2.35% 03/06/20    $ 778,843  
630,000    MARSH & MCLENNAN 2.75% 1/30/22      624,726  
1,000,000    MASSMUTUAL 2.45% 11/23/20 144A      988,968  
1,000,000    MASSMUTUL GLBL 2.5% 4/22 144A      981,681  
98,000    MCDONALDS CORP 2.75% 12/20      97,465  
642,000    MCDONALDS MTN 2.625% 1/15/22      635,548  
1,000,000    MET LIFE GLBL FDG 2% 4/20 144A      989,907  
750,000    MET LIFE GLOB 2.65% 4/22 144A      735,468  
530,000    MITSUBISHI 2.45% 10/16/19 144A      529,690  
750,000    MITSUBISHI UFJ 3.455% 3/02/23      753,918  
581,000    MITSUBISHI UFJ FI 2.95% 3/1/21      580,856  
525,000    MITSUBISHI UFJ FIN 2.998% 2/22      523,266  
500,000    MIZUHO BNK LTD 2.65% 9/19 144A      501,784  
716,000    MIZUHO FINL 2.273% 9/13/21      698,115  
510,000    MIZUHO FINL 2.632% 04/21 144A      503,255  
500,000    MIZUHO FINL GROUP 2.953% 2/22      495,207  
361,000    MOODYS CORP 2.75% 12/15/21      354,456  
1,030,000    MORGAN STANLEY 2.375% 7/23/19      1,036,273  
1,955,000    MORGAN STANLEY 2.5% 01/24/19      1,975,517  
1,000,000    MORGAN STANLEY 2.5% 04/21/21      984,745  
800,000    MORGAN STANLEY 2.65% 01/27/20      802,974  
750,000    MORGAN STANLEY 2.75% 05/19/22      732,032  
1,000,000    MORGAN STANLEY 3.125% 01/23/23      989,887  
1,000,000    MORGAN STANLEY 3.737%/VAR 4/24      999,316  
238,000    MSBAM 15-C22 ASB 3.04% 4/15/48      237,915  
1,014,611    MSBAM 2012-C6 A4 2.858% 11/45      1,002,537  
279,000    MSBAM 2013-C11 A4 CSTR 8/46      291,621  
749,000    MSBAM 2013-C7 A4 2.918% 2/46      740,257  
858,000    MSBAM 2013-C8 A4 3.134% 12/48      854,878  
579,000    MSBAM 2014-C16 ASB 3.477% 6/47      583,932  
721,000    MSBAM 2014-C17 ASB 3.477% 8/47      729,075  
142,000    MSBAM 2015-C21 ASB 3.15% 03/48      141,539  
422,000    MSC 2011-C2 A4 4.661% 06/44      437,353  
311,136    NAROT 2016-B A3 1.32% 01/15/21      308,831  
1,043,000    NAROT 2017-A A3 1.74% 08/21      1,034,103  
1,310,000    NEW YORK LIFE 1.95% 2/20 144A      1,304,936  
559,000    NMOTR 2016-A A2 1.54% 06/21      555,643  
280,000    NYC TFA (PIT) 2.05% 08/01/23      270,055  
255,000    NYC TFA (PIT) 2.85% 02/01/24      252,760  
645,000    NYS UDC 2.67% 03/15/23      642,486  
1,140,000    NYS UDC 2.7% 03/15/23      1,137,002  
1,000,000    ORACLE CORP 1.9% 09/15/21      976,027  

 

32


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
1,599,000    PHILIP MORRIS INTL 1.875% 2/21    $ 1,564,154  
1,000,000    PNC BANK NA 2.15% 4/29/21      977,956  
530,000    PNC BANK NA 2.4% 10/18/19      529,455  
500,000    PNC BANK NA 2.55% 12/09/21      488,551  
780,000    PRICOA GLBL 2.45% 9/21/22 144A      759,112  
1,070,000    PRINCIPAL FDG 2.375% 9/19 144A      1,070,881  
500,000    PROTECTIVE LF 2.161% 9/20 144A      493,871  
1,000,000    PROTECTVE LFE 2.615% 8/22 144A      981,323  
692,000    PRUDENTIAL MTN 3.5% 05/15/24      698,842  
717,000    PUBLIC SERVICE ELE 2.65% 11/22      692,271  
354,000    PUBLIC SVC ENT 2% 11/15/21      340,837  
1,000,000    QUEBEC PROVINCE 2.375% 1/31/22      997,712  
567,000    REGIONS FINL CORP 2.75% 8/22      552,936  
750,000    REGIONS FINL CORP 3.2% 2/8/21      754,711  
566,000    REYNOLDS AMERICAN 3.25% 6/20      563,409  
349,000    REYNOLDS AMERICAN 4% 6/12/22      345,958  
1,000,000    ROPER TECHNOLOGIES 3% 12/15/20      994,634  
675,000    ROPER TECHNOLOGIES 3.65% 09/23      683,863  
780,000    ROPER TECHNOLOGS 2.8% 12/15/21      765,085  
1,500,000    ROYAL BANK OF CANA 2.15% 10/20      1,482,139  
700,000    ROYAL BK CAN GL 2.35% 10/30/20      694,140  
1,000,000    ROYAL BK CDA 3.2% 04/30/21      1,005,282  
1,250,000    ROYAL BK OF CAN 2.125% 3/2/20      1,245,729  
1,277,000    ROYAL BK SCO 4.519%/VAR 06/24      1,253,917  
1,000,000    ROYAL BNK OF CAN 3.7% 10/5/23      1,012,784  
656,000    SEMPRA ENERGY 2.4% 3/15/20      651,339  
397,000    SEMPRA ENERGY 2.85% 11/15/20      393,171  
189,000    SEMPRA ENERGY 2.9% 02/01/23      185,925  
750,000    SHELL INTL 2.25% 11/10/20      743,306  
771,000    SHELL INTL FIN BV 2.125% 05/20      765,345  
1,250,000    SHIRE ACQ INV IRE 2.4% 9/23/21      1,216,844  
208,000    SIMON PROP GRP 2.35% 1/30/22      204,045  
860,000    SIMON PROPERTY 2.75% 06/01/23      835,297  
1,250,000    SOUTHERN COMPANY 2.35% 7/1/21      1,229,936  
362,000    SOUTHERN PWR CO 2.375% 6/1/20      357,702  
1,027,000    SRT 2017-A A3 2.58% 01/21      1,019,239  
856,000    SRT 2018-A A3 2.93% 05/21      855,688  
584,000    SSM HEALTH CARE 3.688% 6/1/23      591,118  
513,637    SSTRT 17-1A A3 1.89% 8/20      511,196  
623,000    SSTRT 17-2A A3 2.04% 4/21 144A      616,552  
143,624    SSTRT 2016-1A A3 1.524% 03/20      143,195  
1,273,000    SSTRT 2018-2A A3 3.51% 8/25/22      1,283,615  

 

33


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
520,000    STARBUCKS CORP 3.8% 08/15/25    $ 522,210  
500,000    SUMITOMO BKG 2.45% 01/16/20      501,581  
657,000    SUMITOMO MITSUI 2.934% 3/9/21      656,059  
828,000    SUNTRUST BAN 3.502%/VAR 8/2/22      837,974  
750,000    SUNTRUST BANKS INC 2.9% 3/3/21      750,615  
188,000    SYNCHRONY FIN 3% 8/15/19      188,892  
1,215,000    SYNCHRONY FINANCL 2.6% 1/15/19      1,229,152  
1,014,000    SYNCT 2015-1 A 2.37% 03/23      1,007,057  
983,000    TAOT 2018-B A3 2.96% 09/22      984,531  
1,020,000    TORONTO DOM BANK 2.125% 4/7/21      1,003,134  
1,000,000    TOYOTA MOTOR CORP 2.6% 1/11/22      997,776  
1,050,000    TRANSCANADA 2.125% 11/15/19      1,042,857  
987,000    TRANSCANADA PIP 2.5% 8/1/22      957,457  
1,000,000    UBS AG LON 2.45% 12/01/20 144A      983,355  
538,000    UBSBB 2012-C2 A4 3.525 5/63      545,489  
410,000    UNITED HEALTH 2.7% 7/15/20      413,573  
305,000    UNITED TECHNOLOG 3.5% 8/16/21      307,994  
750,000    UNITEDHEALTH GP 2.125% 3/15/21      739,002  
1,000,000    USAA CAPITAL 2% 6/1/21 144A      973,623  
358,000    USAOT 2017-1 A3 1.79% 05/21      355,622  
6,000,000    UST NOTE 1.875% 03/31/22      5,916,280  
20,000,000    UST NOTES 1.625% 07/31/20      19,850,437  
8,000,000    UST NOTES 1.875% 09/30/2022      7,864,438  
27,433,000    USTN 1.125% 02/28/21      26,740,697  
9,894,000    USTN 1.625% 08/31/22      9,652,369  
4,000,000    USTN 1.75% 06/30/22      3,903,315  
28,699,000    USTN 1.75% 11/30/21      28,163,055  
20,000,000    USTN 1.75% 12/31/20      19,712,588  
9,194,000    USTN 1.875% 07/31/22      9,075,498  
5,316,000    USTN 2.125% 12/31/22      5,241,878  
20,000,000    USTN 2.625% 06/30/23      20,105,231  
617,000    VALET 2018-1 A3 3.32% 11/22      617,684  
502,000    VERIZON COM 2.946% 03/15/22      500,034  
658,000    VERIZON COMM 1.75% 8/15/21      639,720  
500,000    VERIZON COMMS INC 3% 11/21      499,969  
476,000    VERIZON COMMUNS 2.625% 2/21/20      478,672  
513,000    VOLKSWAGEN GRP 2.4% 5/20 144A      506,284  
456,906    VZOT 16-1A A 1.42% 01/21      454,867  
603,000    VZOT 17-2A A 1.92% 12/21      597,181  
935,645    VZOT 2016-2A A 1.68% 5/21      930,785  
1,050,000    VZOT 2017-3A A1A 2.06% 04/22      1,038,035  
1,268,000    VZOT 2018-A A1A 3.23% 4/20/23      1,277,027  

 

34


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
520,000    WASHINGTON PG 3.85% 4/1/20    $ 517,152  
530,000    WELLPOINT INC 2.25% 8/15/19      531,671  
1,000,000    WELLS FARGO 3.325%/VAR 07/23/21*      1,013,593  
1,000,000    WELLS FARGO & CO MTN 2.6% 7/20*      1,001,628  
1,000,000    WELLS FARGO BK 3.55% 8/14/23*      1,009,837  
435,000    WELLTOWER INC 3.95% 09/01/23      442,500  
1,000,000    WESTPAC BANKING 1.6% 08/19/19      996,985  
1,050,000    WESTPAC BANKING 2.8% 1/11/22      1,044,104  
1,155,113    WFCM 2012-LC5 A3 2.918% 10/45*      1,145,610  
66,986    WFCM 2013-LC12 A1 1.676% 7/46*      66,994  
590,000    WFCM 2015-C27 ASB 3.278% 2/48*      594,633  
580,000    WFCM 2016-C34 A2 2.603% 06/49*      571,583  
428,000    WFCM 2016-C37 A2 3.103% 12/49*      428,248  
132,290    WFCM 2016-LC25 1.795% 12/15/59*      131,089  
93,909    WFRBS 13-C12 ASB 2.838% 03/48*      93,366  
217,541    WFRBS 13-C16 ASB 3.963% 09/46*      221,922  
281,000    WFRBS 14-C20 ASB 3.638% 05/47*      285,813  
332,000    WFRBS 14-C23 ASB 3.636% 10/57*      338,879  
694,000    WFRBS 2011-C3 A4 4.375% 3/44*      710,060  
445,000    WFRBS 2012-C7 A2 3.431% 6/45*      448,567  
708,988    WFRBS 2012-C9 A3 2.87% 11/45*      705,013  
1,133,000    WFRBS 2013-C11 A5 3.071% 03/45*      1,127,435  
274,000    WFRBS 2013-C12 A4 3.198% 3/48*      273,635  
1,067,000    WFRBS 2013-C14 A5 3.337% 6/46*      1,071,843  
581,000    WFRBS 2013-C16 A5 4.415% 09/46*      610,606  
1,091,000    WFRBS 2014-C22 ASB 3.464% 9/57*      1,106,500  
292,000    WISCONSIN ENERGY 2.45% 6/15/20      288,830  
423,985    WOART 2016-A A3 1.77% 09/21      421,283  
281,000    XCEL ENERGY INC 2.4% 03/15/21      278,679  
782,000    XEROX CORP 2.75% 03/15/19      784,422  
141,000    ZOETIS INC 3.45% 11/13/20      142,011  
     

 

 

 
   Total Synthetic Investment Contracts    $ 525,433,042  
   Mutual Funds   
   Fidelity BrokerageLink*    $ 205,955,149  
6,298,112    DFA Emerging Markets Core Equity Portfolio Institutional Class Fund*      121,238,649  
54,677    Fidelity Investments Money Market Government Portfolio*      54,677  
1,684,474    PIMCO Priv ABS Sector Fund (732)*      21,022,241  
39,320    PIMCO Short Term Floating NAV Portfolio II*      393,396  
     

 

 

 
   Total Mutual Funds    $ 348,664,112  

 

35


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
   U.S. Government Agency Securities   
   United States Treasury Notes   
500,000    UST NOTE 1.875% 03/31/22    $ 490,615  
3,700,000    UST NOTE 2.25% 02/15/27      3,595,439  
6,300,000    USTN 1.5% 08/15/26      5,815,613  
4,000,000    USTN 1.875% 04/30/22      3,923,381  
3,200,000    USTN 2% 06/30/24      3,111,782  
3,600,000    USTN 2.125% 09/30/21      3,565,481  
9,400,000    USTN 2.25% 04/30/21      9,354,310  
8,340,000    USTN 2.25% 08/15/27      8,077,367  
7,600,000    USTN 2.25% 11/15/24      7,469,686  
6,500,000    USTN 2.375% 05/15/27      6,368,683  
5,800,000    USTN 2.375% 8/15/24      5,746,947  
200,000    USTN 2.5% 05/15/24      199,631  
3,100,000    USTN 2.625% 3/31/25      3,109,809  
1,500,000    USTN 2.75% 08/31/23      1,516,775  
2,800,000    USTN 2.75% 2/28/25      2,828,791  
2,100,000    USTN 2.875% 04/30/25      2,136,901  
200,000    USTN TII 0.75% 2/15/45      192,555  
200,000    USTN TII 1% 2/15/46      202,860  
500,000    USTN TII 1.375% 02/15/44      561,451  
2,850,000    USTN TII 2.5% 1/15/29      3,824,126  
100,000    USTN TII 3.875% 4/15/29      195,983  
     

 

 

 
   Total United States Treasury Notes    $ 72,288,186  
   United States Treasury Bonds   
5,000,000    UNITED STATES TREASURY BOND 2.75% 08/15/2047    $ 4,743,865  
5,800,000    UNITED STATES TREASURY BOND 2.875% 08/15/2045      5,659,423  
400,000    UNITED STATES TREASURY BOND 3.375% 11/15/2048      428,467  
600,000    USTB 2.5% 02/15/2046      542,701  
200,000    USTB 2.75% 8/15/42      191,792  
5,900,000    USTB 2.750% 11/15/42      5,651,262  
200,000    USTB 3% 11/15/2044      200,057  
4,900,000    USTB 3% 5/15/42      4,913,842  
300,000    USTB 4.375% 5/15/40      368,808  
     

 

 

 
   Total United States Treasury Bonds    $ 22,700,217  

 

36


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
   Federal Agency Obligations   
   Federal Home Loan Mortgage Corporation   
319,968    FHLG        5.00% 3/38 #A74793    $ 339,538  
23,464    FHLG        5.50% 11/35 #A39302      25,176  
88,776    FHLG        5.50% 12/38 #G06172      95,386  
234,397    FHLG        6.00% 6/38 #G04715      261,064  
411,840    FHLG        6.00% 11/39 #G06409      458,770  
45,290    FHLG        6.50% 9/39 #G06669      51,111  
11,000,000    FHLG 30YR 3.5% 01/49 #TBA      10,993,215  
196,933    FHLG 30YR 3.5% 09/47#Q50962      196,973  
9,200,000    FHLG 30YR 4% 01/49 #TBA      9,376,113  
22,684    FHLM ARM 5.65% 9/37 #1G3704      23,240  
7,215    FHLM ARM 5.84% 2/37 #1N1447      7,466  
29,591    FHLM ARM 5.95% 5/37 #1N1582      30,447  
11,157    FHLM ARM 6.03% 5/37 #1N1463      11,625  
67,217    FHLM ARM 4.433% 7/35 #1B3925      69,739  
1,590,752    FHMS 2018-K156 A1 3.7% 05/30      1,649,848  
     

 

 

 
   Total Federal Home Loan Mortgage Corporation    $ 23,589,711  
   Federal National Mortgage Association   
531,830    FNMA        4.50% 4/41 #AL0215    $ 556,287  
65,577    FNMA        4.50% 9/41 #AB3517      68,592  
43,149    FNMA        5.50% 8/38 #995072      46,424  
20,893    FNMA        6.00% 5/35 #821192      23,283  
3,073    FNMA        6.00% 9/37 #952504      3,413  
6,212    FNMA        6.00% 10/35 #745000      6,911  
6,491    FNMA        6.50% 1/37 #897910      7,366  
26,398    FNMA        6.50% 5/36 #895817      29,893  
12,915    FNMA        6.50% 8/36 #745744      14,587  
7,483    FNMA        6.50% 9/36 #897131      8,471  
152,579    FNMA        6.50% 10/41 #AL0814      172,724  
191,193    FNMA        6.50% 10/41 #AL0886      214,162  
100,981    FNMA        6.50% 10/41 #AL0885      114,153  
13,300,000    FNMA 30YR 3% 01/49 #TBA      12,976,932  
2,997,264    FNMA 30YR 3% 05/43#AR8293      2,941,903  
15,900,000    FNMA 30YR 3.5% 01/49 #TBA      15,893,918  
12,700,000    FNMA 30YR 3.5% 02/49 #TBA      12,686,709  
7,170    FNMA 30YR 4% 02/34#763516      7,370  
52,700,000    FNMA 30YR 4% 02/49 #TBA      53,673,822  
17,600,000    FNMA 30YR 4.5% 02/49 #TBA      18,203,124  
97,333    FNMA ARM 5.51% 2/37 #913990      98,729  

 

37


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
922,346    FNMA ARM 2.463% 01/36#AL7183    $ 971,592  
25    FNR 11-15 AB 9.75% 8/19      26  
39,249    FNR 2004-38 FK 1ML+35 5/34      39,329  
74,395    FNR 2010-118 YB IO INV 10/40      12,036  
92,747    FNR 2011-63 SW IO INV 7/41      15,408  
503,696    FNR 2016-62 AF 1ML+45 9/46      504,321  
46,362    FNS 390 C3 IO 6% 7/38      9,884  
28,589    FNS 407 40 0 1/38      7,006  
56,998    FNS 407 41 IO 6% 1/38      12,899  
7,571    FNS 407 C22 IO 1/39      1,558  
     

 

 

 
   Total Federal National Mortgage Association    $ 119,322,832  
   Freddie Mac   
3,231,616    FHMS K006 AX1 CSTR 1/20    $ 23,018  
793,777    FHMS K007 X1 CSTR 4/20      7,994  
899,759    FHMS K008 X1 CSTR 6/25/20      14,953  
868,231    FHMS K009 X1 CSTR 8/20      14,056  
3,759,415    FHMS K014 X1 IO CSTR 4/21      86,041  
1,351,120    FHMS KAIV X1 CSTR 6/46      30,674  
42,323    FHR 3738 BP 4% 12/38      43,022  
     

 

 

 
   Total Freddie Mac    $ 219,758  
   Government National Mortgage Association   
28,888    GNII        5.00% 9/40 #004802    $ 30,590  
13,298    GNII II    5.00% 7/40 #004747      14,082  
141,947    GNII II    5.00% 8/40 #004772      150,313  
60,922    GNII II    6.50% 10/37 #004040      68,953  
1,000,000    GNII II    3.5% 01/49 #TBA      1,006,851  
2,000,000    GNII II    4% 01/49 #TBA      2,048,059  
6,900,000    GNII II    4.5% 02/49 #TBA      7,129,921  
2,000,000    GNMA 30YR 3% 01/49 #TBA      1,971,636  
1,000,000    GNMA 30YR 3.5% 01/49 #TBA      1,006,694  
1,000,000    GNMA 30YR 4% 01/49 #TBA      1,024,029  
53,300    GNMA II    5.00% 7/40 #783050      56,364  
12,490    GNR 10-116 JS -1ML+605 12/39      1,005  
23,171    GNR 11-70 BS -1ML+670 IO 12/36      699  
3,319,515    GNR 15-H12 FB 1ML+60 05/65      3,332,907  
80,989    GNR 16-H19 FE 1ML+.37 6/20/61      80,967  
34,847    GNR 2005-13 SD -1ML+680 2/35      5,675  
134,868    GNR 2006-47 SA 1ML+680 8/36      21,448  
133,911    GNR 2009-106 SU IO INV 5/37      20,059  
23,502    GNR 2009-45 AI IO 1ML+596 4/39      2,511  

 

38


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
86,381    GNR 2009-61 SA 1ML+670 8/39    $ 13,899  
120,838    GNR 2009-61 WQ 1ML+625 11/35      19,823  
17,575    GNR 2009-68 SL 1ML+675 4/39      1,646  
779,076    GNR 2009-HO1 FA 1.4% 11/59      785,919  
30,587    GNR 2010-109 SB -1ML+660 8/40      5,279  
158,883    GNR 2010-115 SP -1ML+540 9/40      18,494  
186,777    GNR 2010-117 PS 1ML+600 10/39      13,619  
199,361    GNR 2010-14 SC -1ML+480 8/35      18,262  
44,121    GNR 2010-146 GS IO ML+610 6/39      2,171  
72,489    GNR 2010-147 S -1ML+665 11/40      12,553  
81,535    GNR 2010-151 SM -1ML+608 11/40      13,191  
77,068    GNR 2010-151SA IO ML+605 11/40      11,549  
35,066    GNR 2010-160 SW 1ML+655 10/38      1,106  
18,692    GNR 2010-3 MS IO 1ML+655 11/38      614  
17,620    GNR 2010-31 GS 1ML+650 3/39      703  
25,307    GNR 2010-42 BS -1ML+648 4/40      3,997  
25,307    GNR 2010-47 AS -1ML+644 4/40      3,942  
56,400    GNR 2010-47 VS -1ML+625 11/37      7,415  
94,708    GNR 2010-50 QS 1ML+655 12/38      4,114  
80,868    GNR 2010-57 QS -1ML+650 5/40      13,040  
133,315    GNR 2010-60 S -1ML+650 5/40      21,025  
139,457    GNR 2010-62 SB -1ML+575 5/40      17,308  
107,913    GNR 2010-68 SD -1ML+658 6/40      18,329  
26,542    GNR 2010-76 SH -1ML+650 5/40      4,180  
30,862    GNR 2010-85 HS IO 1ML+665 1/40      2,928  
25,475    GNR 2010-85 JS -1ML+657 4/40      4,102  
96,898    GNR 2010-87 SK IML+650 7/40      15,653  
760,863    GNR 2010-H010 FC 1ML+100 5/60      770,912  
876,499    GNR 2010-H20 AF 1ML+33 10/60      874,900  
826,896    GNR 2010-H24 FA 1ML+35 10/60      825,749  
220,258    GNR 2011-11 SA -1ML+600 1/41      30,662  
16,920    GNR 2011-32 S IO -1ML+600 3/41      2,404  
54,712    GNR 2011-4 PS -1ML+618 9/40      7,061  
103,294    GNR 2011-81 SA -1ML+540 6/41      12,549  
232,698    GNR 2011-H09 AF IML+50 3/61      233,214  
662,127    GNR 2016-H18 FA 1ML+75 08/66      669,384  
915,876    GNR 2016-H20 PT VAR 09/20/66      1,016,915  
419,895    GNR 2016-H23 FD 1ML+37 10/66      419,756  
     

 

 

 
   Total Government National Mortgage Association    $ 23,871,130  

 

39


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
   Total U.S. Government and Agency Securities    $ 261,991,834  
   Other Fixed Income Securities   
69,632    ACCR 2003-3 A1 5.21% 12/33    $ 71,235  
452,203    ACE 2006-SL3 A1 1ML+10 6/36      44,398  
300,000    ACRE 10-ARTA A2FX 4.9543% 1/29      310,632  
284,222    AHM 2005-4 1A1 1ML+29 3/35      265,438  
200,000    AIG GLBL FRN 3ML+46 6/21 144A      198,480  
800,000    ALEXANDRIA REAL EST EQUITS INC 3.9% 06/15/2023      804,796  
500,000    ALEXANDRIA REAL EST EQUITS INC 4.7% 07/01/2030      506,371  
331,040    ALLY AUTO RECEIVABLES TRUST 2017-4 1.59% 04/15/202      330,445  
39,711    ALLY AUTO RECEIVABLES TRUST 2017-5 1.81% 06/15/202      39,622  
600,000    AMERICAN EXPRESS CO 2.2% 10/30/2020      589,058  
2,100,000    APEX CR CLO 2016 LTD 3ML+105 10/27/2028      2,100,000  
172,176    ARC 2004-1 A5 1ML+50 10/34      171,511  
100,000    AVIATION CAPIT 3.875% 05/01/23      97,967  
1,100,000    AVIATION FRN 3ML+95 6/21 144A      1,098,146  
300,000    BACARDI LTD 4.45% 05/15/25 144      295,984  
1,000,000    BAIDU INC 4.375% 05/14/2024      1,008,226  
129,947    BALTA 2004-9 3A1 CSTR 9/34      126,367  
119,889    BALTA 2005-2 2A4 CSTR 4/35      118,718  
800,000    BANCO SANTANDER SA 6.25/VAR PERP REGS      898,268  
1,300,000    BANK AMER FDG CORP 4.12% 01/24      1,317,626  
1,000,000    BANK OF AMERICA CORP 0% 7/24/23      1,013,503  
700,000    BANK OF AMERICA CORPORATION 3.864% 07/23/2024      698,289  
900,000    BANK OF AMERICA CORPORATION 3ML+0 03/05/2024      889,064  
900,000    BANK OF AMERICA CORPORATION 3ML+63 05/17/2022      900,101  
500,000    BANK OF AMERICA CORPORATION FRN 3ML+65 06/25/2022      493,634  
300,000    BANK OF AMERICA CORPORATION FRN 3ML+79 03/05/2024      291,481  
200,000    BANK OF MONTREAL BA 0% 1/19      146,266  
200,000    BANK OF MONTREAL BA 0% 1/4/19      146,258  
700,000    BANQUE FED 144A 3ML+96 7/20/23      691,118  

 

40


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
200,000    BARCLAYS PLC (UNGTD) 3.2% 08/10/21    $ 194,369  
800,000    BARCLAYS PLC (UNGTD) 8% PERP      970,496  
700,000    BARCLAYS PLC (UNGTD) FRN 3ML+2.11 08/10/2021      705,784  
1,300,000    BARCLAYS PLC 3.684% 01/10/2023      1,249,044  
400,000    BAT CAP CORP 3.222% 08/15/24      368,385  
1,700,000    BBCCR 15-GTP A 3.966% 08/33 14      1,737,024  
453,316    BFAT 2007-SR1A M2 1ML+90 3/37      436,783  
2,600,000    BMONT 0% 01/02/19      1,901,321  
1,600,000    BMW US CAP 3ML+37 8/14/20 144A      1,587,952  
100,000    BMW US CAP FRN 8/13/21 144A      99,049  
600,000    BNP PARIBAS 3.375% 1/25 144A      564,883  
2,500,000    BOC AVIATION LTD FRN 3ML+112.5 09/26/2023 144A      2,486,830  
500,000    BROADCOM CRP/FI 3% 01/15/22      480,831  
89,445    BSABS 2005-AQ2 A3 1ML+36 9/35      89,208  
141,474    BSABS 2005-CL1 A1 1ML+50 9/34      135,671  
155,485    BSARM 2004-10 12A3 CSTR 1/35      155,795  
1,200,000    BSP 2015-VIIA A1AR 3MLIB+78BP 144A      1,192,282  
300,000    CC HOLDINGS 3.849% 4/15/23      297,069  
1,000,000    CCO LLC/CAPITAL 4.464% 7/23/22      1,009,558  
1,700,000    CD 2018-CD7 ASB 4.21% 08/51      1,778,602  
1,600,000    CGGS 2018-WSS A 1ML+90 02/20      1,574,038  
900,000    CHAIT 2017-A1 A 1ML+100 1/22      900,437  
100,000    CHARTER COMM 3ML+165 2/1/24      98,319  
100,000    CHARTER COMM OPER 4.5% 2/1/24      99,841  
1,200,000    CIBC 0% 01/03/19      877,507  
500,000    CIT GROUP INC NEW 4.125% 3/21      492,500  
400,000    CIT GROUP INC NEW 5.25% 3/7/25      391,000  
1,000,000    CITIGROUP INC 2.35% 08/02/2021      971,422  
500,000    CITIGROUP INC 2.7% 03/30/2021      492,354  
100,000    CITIGROUP INC 3ML+143 09/01/23      100,055  
1,500,000    CITIGROUP INC 4.075/VAR 04/23/2029      1,463,907  
800,000    CITIGROUP INC FRN 3ML+93 06/07/2019      801,883  
1,100,000    COMCAST CORP NEW 4.6% 10/15/2038      1,112,009  
600,000    COMET 2016-A1 A1 1ML+45 02/22      600,543  
1,000,000    COMM 16-COR1 ASB 2.972% 10/49      988,873  
130,000    COMMNWLTH BNK AUST 5 10/19 144      131,936  
300,000    CON EDCO NY 3ML+40 6/25/21      297,044  
583,438    CONTL AIR 12-1 ETC 4.15 4/24      581,921  
1,100,000    CREDIT AGRC MTN FRN 1192933+1.      1,115,709  
1,500,000    CREDIT SUISSE 6.5% 8/8/23 144A      1,563,750  
800,000    CREDIT SUISSE GROUP FUNDING GUERNSEY LTD 2.75% 03/      791,266  

 

41


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
600,000    CREDIT SUISSE GROUP FUNDING GUERNSEY LTD 3.125% 12    $ 594,011  
800,000    CREDIT SUISSE GROUP FUNDING GUERNSEY LTD 3.8% 06/0      784,982  
500,000    CROWN C TWRS 4.241% 7/48 144A      497,575  
200,000    CROWN CASTLE INT 4.45% 2/15/26      199,215  
276,093    CVS CAREMARK 6.943% 1/10/30      306,854  
600,000    CVS HEALTH CORP 3.125% 03/20      598,736  
300,000    CVS HEALTH CORP 3.7% 03/09/23      296,771  
300,000    CVS HEALTH CORP 4.1% 03/25/25      297,367  
517,613    CWALT 05-36 2A1A 1ML+31 8/35      447,365  
196,271    CWALT 2005-36 3A1 CSTR 8/35      182,979  
71,661    CWALT 2005-61 1A1 1ML+26 12/35      69,557  
52,429    CWALT 2006-OA1 2A1 1ML+21 3/46      47,238  
44,638    CWHL 2004-23 A CSTR 11/34      40,858  
138,711    CWHL 2006-HYB3 2A1A CSTR 6/36      131,685  
1,800,000    DAIMLER FRN 3ML+55 5/21 144A      1,783,969  
900,000    DBSW 4.25% 10/14/21      879,939  
1,900,000    DCENT 14-A1 A1 1ML+43 07/21      1,900,218  
92,774    DELTA AIR 6.821% 2/10/24      99,612  
1,000,000    DEPOSITORY 4.875/VAR PERP 144A      985,000  
500,000    DIGITAL REALTY TR 4.45% 07/28      498,152  
100,000    DISH DBS 5.125% 5/1/20      98,750  
125,000    DISH DBS CORP 7.875% 9/01/19      127,538  
35,797    DMSI 2004-4 7AR2 1ML+45 6/34      33,054  
105,285    DORIC NIMROD 5.125% 11/24 144A      109,287  
2,801,625    ECMC GROUP STUD 18-2A A 1ML+80 09/25/2068 144A      2,798,267  
983,953    ECMC GROUP STUDENT LOAN TRUST 2018-1 1ML+80 02/27/      982,613  
460,000    EL PASO NAT GAS 8.375% 6/15/32      556,481  
100,000    EMC CORP 2.65% 06/01/20      96,028  
1,199,000    EMERALD BAY VAR 10/8/20 144A      1,287,895  
600,000    ENBRIDGE FRN 3ML+40 01/10/20      598,021  
1,000,000    ENBRIDGE INC FRN 3ML+70 06/15/2020      996,541  
1,500,000    ENTERGY COR NEW CP 0% 2/07/19      1,489,004  
2,000,000    ENTERGY CORP NEW CP 0% 02/19      1,985,661  
300,000    ENTERPRISE PROD 5.2% 9/1/20      309,175  
1,600,000    EVERGREEN CR CARD TR 2017-1 A 1ML+26 10/15/2021 14      1,598,597  
127,384    FFML 2004-FF3 M1 1ML+55 5/34      123,464  

 

42


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
28,998    FHAMS 2006-FA8 1A8 0 2/37    $ 16,094  
500,000    FIGUEROA CLO LTD 2014-1A AR 3ML+90 01/15/2027 144A      497,169  
89,896    FIRST SEC UT 9.35 1/10/23 144A      97,341  
1,200,000    FORD MTR CR CO LLC MED TERM NTS BOOK ENTRY FRN 3ML      1,178,510  
800,000    FORD MTR CR LLC 2.459% 3/27/20      783,044  
200,000    FORD MTR CR LLC 8.125% 1/15/20      207,613  
900,000    GALLATIN CLO VIII 2017-1 LTD / GALLATIN CLO VIII 2      896,252  
633,345    GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2017-2      633,394  
29,938    GMALT 2017-2 A2B 1ML+30 01/20      29,936  
1,400,000    GOLDEN CR CARD TR 1ML+ 07/15/2024 144A      1,396,782  
500,000    GOLDMAN SACHS GROUP INC (THE) 2.905/VAR 07/24/2023      476,195  
300,000    GOLDMAN SACHS GROUP INC (THE) 3.5% 01/23/2025      284,493  
1,600,000    GPMT 18-FL1 A 1ML+90 12/35      1,592,520  
780,000    GS GRP INC MTN 6.25% 2/01/41      890,625  
300,284    GSMPS 2005-RP1 1AF 1ML+35 1/35      279,734  
2,458,769    GSMS 2011-GC3 X IO 3/44 144A      28,105  
63,419    GSR 2005-AR5 2A3 CSTR 10/35      53,001  
500,000    HALCYON LN ADVISORS FDG 2015-1A AR 3ML+92 04/20/20      496,273  
400,000    HARLEY DAVID 3ML+94 3/21 144A      399,549  
1,230,000    HCA INC 6.5% 2/15/20      1,260,750  
600,000    HSBC HOLDINGS PLC 3.95%/VAR 5/18/2024      596,724  
1,300,000    HSBC HOLDINGS PLC 6.25%VAR PERP      1,218,750  
124,040    HVMLT 05-15 2A11 1ML+27 10/45      121,451  
204,101    HVMLT 2004-5 2A6 CSTR 6/34      199,361  
202,688    HVMLT 2006-13 A 1ML+18 11/46      169,245  
600,000    IL ST 6.725% 4/1/35      642,642  
73,436    IMSA 2006-1 1A2B 1ML+20 5/36      71,359  
559,189    INDX 05-AR14 2A1A 1ML+30 7/35      499,381  
80,484    INDX 2006-AR6 2A1A 1ML+20 6/47      69,761  
1,700,000    ING BANK NV 4.625% 01/06/2026      1,712,295  
1,092,650    ISAC 2010-1 A3 3ML+90 7/45      1,094,868  
435,204    JAMESTOWN CLO IV LTD 2014-4A A1AR 3ML+69 07/15/202      433,695  
3,610,000,000    JAPAN GOVERNMENT OF 0% 2/12/19      32,942,218  
220,000    JPMC CO 4.25% 10/15/20*      223,923  

 

43


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
1,010,054    JPMCC 2011-C4 XA CSTR 7/46*    $ 22,833  
80,165    JPMCC 2011-C5 A3 4.1712% 8/46*      81,773  
80,081    JPMMT 2004-A3 3A3 CSTR 7/34*      76,373  
1,100,000    JPMORGAN CHASE & CO 2.25% 01/23/2020*      1,088,921  
300,000    JPMORGAN CHASE & CO 2.55% 10/29/2020*      296,608  
600,000    JPMORGAN CHASE & CO 3ML+89 07/23/2024*      586,213  
400,000    JPMORGAN CHASE & CO FRN 3ML+ 55 03/09/2021*      398,076  
1,200,000    JPMORGAN CHASE & CO FRN 3ML+148 03/01/2021*      1,215,383  
120,000    KAUPTHING BK 5.75 10/4/11 144A       
1,177,000    KAUPTHING BK 7.625% 2/28/15144       
60,000    KINDER MORGAN EN 6.85% 2/15/20      62,124  
212,000    KPN NV GLBL 8.375% 10/01/30      274,606  
413,000    KRAFT FOODS GROUP INC 0.0% 02/10/2020      422,388  
1,400,000    KUWAIT ST 2.75% 03/20/22 144A      1,373,910  
641,000    LANDSBANK IS MTN6.1% 8/11 144A      38,460  
1,300,000    LLOYDS BANKING GROUP PLC 2.907/VAR 11/07/2023      1,229,225  
400,000    LLOYDS BANKING GROUP PLC 3.1% 07/06/2021      392,342  
700,000    LLOYDS BANKING GROUP PLC 7.625%/VAR PERP REGS      917,648  
1,700,000    LLOYDS TSB BK FRN 3ML+80 06/21      1,683,263  
500,000    LOOMIS SAYLES CLO II LTD 2015-2A A1R 3ML+90 04/15/      495,217  
313,384    LXS 2006-14N 1A1B 1ML+21 9/46      301,793  
88,337    MARM 2005-1 7A1 CSTR 2/35      87,075  
69,243    MARM 2006-2 3A1 CSTR 1/36      67,864  
373,121    MARP 2005-2 1A1F 1ML+35 5/35      275,172  
2,300,000    MET LIFE GLOB FUNDING I FRN SOFR+57 09/07/2020 144      2,284,868  
100,000    MGM RESORTS 6.75% 10/1/20      102,750  
100,000    MISSISSIPPI PWR 3ML+65 3/27/20      99,831  
70,604    MLCC 2003-F A1 1ML+32 10/28      67,960  
18,346    MLMI 2004-A3 4A3 CSTR 5/34      17,904  
1,200,207    MLMI 2005-WMC1 M2 1ML+79.5 9/25/35      1,191,990  
50,944    MLMI 2006-A1 1A1 CSTR 3/36      41,678  
662,067    MLMI 2007-SD1 A1 1ML+45 2/47      480,065  
700,000    MORGAN STANLEY 2.65% 01/27/20      694,667  
1,100,000    MORGAN STANLEY 3.737%/VAR 04/24/2024      1,091,597  
1,000,000    MORGAN STANLEY 3.875% 04/29/2024      995,149  
200,000    MOUNTAIN VIEW CLO X LTD 2015-10A AR 3ML+82 10/13/2      198,340  
800,000    MQGAU FRN 3ML+35 04/19 144A      799,858  

 

44


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
500,000    MSBAM 15-C20 ASB 3.069% 02/48    $ 499,809  
600,000    MSC 2014-CPT AM VAR 07/29      599,942  
800,000    MSC 2018-H3 ASB 4.12% 07/51      836,319  
9,239    MSM 2005-3AR 3A CSTR 7/35      8,251  
513,100    NALT 2017-A A2B 1ML+20 09/19      513,142  
500,000    NASDAQ INC FRN 3ML+39 03/22/2019      499,876  
1,100,000    NATIONAL AUS/NY 3.625% 6/20/23      1,096,792  
1,000,000    NATIONWDE 4.363%/VAR 8/24 144A      979,668  
100,000    NAVIENT CORP 5.0% 10/20      95,750  
100,000    NAVIENT CORP 5.875% 03/25/2021      95,750  
1,900,000    NAVIENT PRIVATE ED REFI LN TR 2018-E 3.43% 12/15/2      1,908,171  
251,311    NAVIENT PRIVATE EDUCATION LOAN TRUST 2017-A 1ML+40      251,455  
1,476,744    NELNET STUDENT LOAN TRUST 2017-3A A 1ML+85 02/25/2      1,489,733  
750,000    NEUBERGER BERMAN CLO XIX LTD / NEUBERGER BERMAN CL      744,095  
660,000    NORDEA BK 4.875% 5/13/21 144A      671,254  
250,000    NORTHSTR ED FIN 2007-1 OT      248,190  
500,000    NY&PRSBTN HSP 4.024% 08/01/45      486,160  
1,500,000    OCP LTD 2015-8A A1R 3ML+85 04/17/2027 144A      1,484,943  
271,737    OFSI FD VI LTD / OFSI FD VI LLC 3ML+65 03/20/2025      271,255  
800,000    OSCAR US FDG IX LLC 18-2A A2B 1ML+47 08/10/2021 14      801,858  
1,700,000    OVERSEA-CHINESE BKG CORP LTD FRN 3ML+45 05/17/2021      1,698,023  
381,168    PALMER SQUARE LN FDG 2018-3 LTD / PALMER SQUARE LN      378,533  
800,000    PETROBRAS GLOBA 5.999% 1/27/28      753,208  
370,000    PFIZER INC 3.4% 05/15/24      372,573  
55,203    PRIME 2005-2 2A1 CSTR 10/32      56,050  
900,000    PROTECTI FRN 3ML+52 06/21 144A      892,899  
1,100,000    RABOBANK 3.875% 9/26/23 144A      1,103,735  
126,401    RBSGC 2007-B 1A4 1ML+45 1/37      81,728  
300,000    ROYAL BK SCOT FRN 3ML+155 6/24      286,608  
70,000    ROYAL BK SCOTLND 7.648/VR PERP      86,188  
1,100,000    ROYAL BK SCTLND 3.875% 9/12/23      1,054,489  
520,000    ROYAL BK SCTLND 6.4% 10/21/19      530,869  
1,900,000    ROYALBK 0% 01/02/19      1,389,469  
1,000,000    SABINE PASS LIQ 5% 03/15/27      1,003,837  

 

45


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
83,195    SACO 2005-WM3 A3 1ML+35 9/35    $ 82,964  
272,155    SAMI 2006-AR6 1A1 1ML+18 07/46      235,053  
700,000    SANDS CHINA LTD 5.125% 08/08/2025 144A      693,175  
330,000    SANTA CL TRANS TAXM 5.876 4/32      388,664  
1,000,000    SANTANDER UK 3ML+66 11/15/21      990,721  
1,200,000    SANTANDER UK PL FRN 3ML+62 06/      1,186,754  
532,893    SARM 2004-4 2A CSTR 04/34      521,369  
1,153,170    SASC 2006-OPT1 A1 1ML+18 04/25/2036      1,135,573  
14,734    SAST 2002-3 M1 1ML+75 12/32      14,436  
110,702    SAST 2003-3 M1 1ML+65 12/33      107,728  
400,000    SAUDI ARAB 2.875% 3/4/23 144A      384,498  
500,000    SAUDI ARAB 3.625% 3/4/28 144A      472,855  
1,000,000    SAUDI GOVT 3.25% 10/26/26 RGS      934,936  
1,500,000    SEMPRA ENERGY FRN 3ML+45 03/15/2021      1,469,442  
300,000    SHIRE ACQ INV IRELAND DA 1.9% 09/23/2019      295,801  
200,000    SHIRE ACQ INV IRELAND DA 2.4% 09/23/2021      193,388  
2,046,190    SILVER ARROW CDA LP 2.278% 02/15/2020 144A      1,499,300  
700,000    SINOPEC 4.125% 9/12/25 144A      700,804  
1,700,000    SL GREEN OP PRTNR 3ML+98 8/21      1,689,630  
345,000    SLM CORP MED 4.875% 6/17/19      343,706  
400,000    SLM CORP MTN 8% 3/25/20      406,440  
224,681    SLM STUDENT LN TR 2003-11 A6 3ML+55 12/25      225,728  
1,600,000    SLM STUDENT LN TR 3ML+75 10/25/2029 144A      1,604,062  
111,948    SLMA 2004-3 A5 3ML+17 7/25/23      111,871  
250,000    SLOVENIA REP 5.25% 2/24 REGS      268,718  
400,000    SMBC AVIATION 4.125% 7/23 144A      401,793  
400,000    SOUND PT CLO IX INC 2015-2A AR 3ML+88 07/20/2027 1      397,870  
2,000,000    SOUND PT CLO VIII LTD / SOUND PT CLO VIII INC 2015      1,996,678  
1,000,000    SOUTHCO FRN 3ML+49 02/14/20 14      998,300  
400,000    SOUTHERN POWER CO FRN 3ML+55 12/20/2020 144A      395,066  
21,000    SOUTHRN NAT GAS 8% 3/01/32      26,770  
500,000    SPECTRA ENERGY PRT 3ML+70 6/20      496,904  
300,000    SPRINGLEAF FIN CRP 8.25% 12/20      310,500  
300,000    SPRINT CAP GLBL 6.9% 5/01/19      301,500  
100,000    SPRINT NEXTEL 7% 3/1/20 144A      102,500  
100,000    SPRINT NEXTEL 7% 8/15/20      102,380  
300,000    SPRINT SPECTRUM CO LLC 4.738% 09/20/2029 144A      294,375  
133,823    STRUCTURED ASSET INVT LN TR VAR 10/25/2033      133,358  
49,000    TENN GAS PIPELI 7.625% 4/01/37      57,959  
1,200,000    TEXTRON INC FRN 3ML+55 11/10/2020      1,189,666  

 

46


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
160,000    THERMO FISHER 3.6% 8/15/21    $ 160,465  
100,000    TORONTO 0% 01/02/19      73,130  
400,000    TORONTO DOMINION BA 0% 1/19      292,534  
200,000    TORONTO DOMINION BA 0% 1/4/19      146,260  
1,800,000    TRALEE CLO III LTD 2014-3A AR 3ML+103 10/20/2027      1,787,855  
530,937    TSCOLN PRP FIN 7.6227% 7/13/39      880,126  
240,000    TVA 5.25% 09/15/39      301,669  
467,000    TVA 5.98% 04/01/36      614,014  
1,250,000    UBS AG 7.625% 08/22 LT2 COCO      1,331,250  
800,000    UBS GR FND 3.491% 5/23/23 144A      780,138  
600,000    UBS GROUP FDNG 3% 4/15/21 144A      595,338  
1,700,000    UBSCM 18 C-12 4.1945% 08/51      1,765,501  
1,100,000    UBSCM 18-C11 ASB 4.1186% 06/51      1,146,968  
200,000    UNITED BUSNS 5.75% 11/20 144A      204,787  
200,000    VENTURE XVII CLO LTD 3ML+0.88 04/15/2027 144A      198,077  
1,250,000    VENTURE XXI CLO LTD 3ML+88 07/15/2027 144A      1,235,674  
206,000    VERIZON COMMUNICATIONS INC 3.376% 02/15/2025      199,861  
297,000    VERIZON COMMUNICATIONS INC 4.329% 09/21/2028      298,404  
600,000    VMC 18-FL2 A 1ML+92 10/35      599,656  
332,796    WAMU 05-AR15 A1A1 1ML+26 11/45      321,610  
274,075    WAMU 05-AR15 A1A2 1ML+28 11/45      252,551  
124,096    WAMU 05-AR17 A1A2 1ML+29 12/45      116,758  
419,255    WAMU 06-AR14 1A3 CSTR 11/36      379,226  
1,286,430    WAMU 2004-AR10 A1A 1ML+44 7/44      1,277,356  
120,438    WAMU 2004-AR8 A1 1ML+42 6/44      115,304  
688,168    WAMU 2005-AR18 1A3A CSTR 1/36      678,846  
172,511    WAMU 2005-AR7 A4 CSTR 8/35      172,255  
41,685    WAMU 2005-AR8 1A1A 1ML+27 7/45      40,026  
99,205    WAMU 2005-AR9 A1A 1ML+32 7/45      96,057  
169,865    WAMU 2007-HY4 4A1 CSTR 9/36      151,381  
500,000    WELLTOWER INC 3.95% 09/01/23      501,215  
1,200,000    WESTINGHOUSE AIR BRAKE TECH CORP FRN 3ML+105 09/15      1,195,585  
171,286    WFMBS 2006-AR11 A6 CSTR 8/36      166,711  
240,000    WFRBS 2011-C4 A4 0 6/44*      248,783  
1,337,667    WHITEHORSE IX LTD/LLC 3ML+116 07/17/2026 144A      1,336,326  
1,600,000    WHITEHORSE X LTD 3ML+93 04/17/2027 144A      1,585,413  
1,000,000    WYNN LAS VEGAS 5.5% 3/25 144A      932,500  
300,000    Z CAPITAL CREDIT PARTNERS CLO 2015-1 LTD 3ML+95 07      297,259  
     

 

 

 
   Total Other Fixed Income Securities    $ 212,240,414  

 

47


Table of Contents

WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
   Cash, Cash Equivalents and Other Investments   
   Cash and Cash Equivalents   
   CASH    $ 1,275,202  
   Cash Collateral      1,731,550  
25,299,277    BBH STIF FUND      25,299,277  
10,753,252    Fidelity Institutional Money Market Portfolio*      12,019,515  
7,520,607    JP MORGAN 100% US TREASURY*      7,520,607  
6,755,804    JPM TREASURY PLUS MMF AGY SHRS*      6,755,804  
3,803,394    JP Morgan Prime*      3,803,775  
1,725    SSBK STIF FUND*      1,725  
     

 

 

 
   Total Cash and Cash Equivalents    $ 58,407,455  
   Swap Contracts   
   Credit Default Swaps   
3,000,000    BOAM CDS 91086QAW8 1% 12/20/19    $ 8,210  
2,000,000    CDS CMBX.NA.AAA.9 0.5 9/58 GS      (7,233
5,554,409    CDS GS CMBX NA AAA6 0.5% 5/63      34,289  
(3,100,000)    CDX HY30 5Y ICE 06/20/23      4,116  
(800,000)    CDX IG30 5Y ICE 06/20/23      185  
(2,400,000)    CDX NA HY31 ICE USD 5% 12/23      2,752  
(4,100,000)    CDX NA IG31 ICE 5Y 1% 12/20?23      1,100  
500,000    CS CDS CMBX.NA.BBB-.9 3% 9/58      (60,500
(1,800,000)    DELL INC SNR 12/20/19 GS ICE      280  
(600,000)    GENERAL ELECTRIC ICE 12/20/23      366  
(800,000)    GENERAL ELECTRIC S ICE 6/20/23      471  
(500,000)    GENERAL MTR SNR USD 6/22 ICE      51  
1,000,000    JP CDS CMBX.NA.AAA.9 SP 0.5 9/17/58      (3,617
(2,000,000)    JPM CDX EM30 ICE SWAP 12/20/23      1,747  
2,600,000    QATAR GOVT JPM CDS 1% 12/23      34,705  
(800,000)    SPRINT SNR S 12/20/19 GS ICE      (40
     

 

 

 
   Total Credit Default Swaps    $ 16,882  
   Interest Rate Swaps   
(8,200,000)    BA IRS USD 2Y 1.45% 06/19 CME    $ (3,158
7,100,000    BOA IRS SWAP P1.73 08/26/25      78,965  
(54,600,000)    CME IRS USD 1.75 6/20/20      (5,993
89,000,000    CME IRS USD 2.75 2/25/20      3,494  
62,100,000    CME IRS USD 3% 09/20/20      10,124  
(300,000)    CS IRS 30YRUSD 2.25% 12/46 CME      (1,132
(200,000)    CS IRS USD 10Y 1.75% 12/26 LCH      (339
(600,000)    GS IRS SWAP FUT 08/22/48      (2,621

 

48


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WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
(6,800,000)    INFSWEMNI 1.4425% 10Y 12/26 LCH    $ (1
6,800,000    INFSWPEMNI 1.165% 5Y 12/21 LCH      (147,955
(900,000)    IRS GBP 1.5 03/20/19 5Y LCH      260  
(500,000)    IRS GBP 1.50 03/20/29 10Y LCH      39  
(7,000,000)    IRS GBP 1.5000 10Y LCH 6/19/29      601  
(13,800,000)    IRS USD 10 YR 2.25% 06/28 LCH      (25,938
(6,700,000)    IRS USD 2 YR 1.75% 6/20/20 LCH      (977
(4,100,000)    IRS USD 2.5 6/20/48 30YR CME      (16,541
(19,700,000)    LCH IRS 2.25% 12/16/22      (19,414
(900,000)    LCH IRS EUR 10YR 1% 03/20/29      438  
(11,400,000)    LCH IRS USD 10YR 3% 12/19/28      (20,336
(8,500,000)    LCH IRS USD 2YR 2.75% 12/19/20      (1,291
(7,000,000)    LCH PIMCO IRS 2. 6/20/25      (11,291
(2,000,000)    MSCS IRS SWAP FUT 08/22/48      (8,683
(1,800,000)    PIMCO IRS USD 10 2.25% 6/20/28      (5,364
     

 

 

 
   Total Interest Rate Swaps    $ (177,113
     

 

 

 
   Total Swap Contracts    $ (160,231
   Interest Rate Option Contracts   
(2,100,000)    CDX IG31 5YR V1 P1.05 02/20/19    $ (3,420
(2,600,000)    CDX IG31 5YR V1 P1.05 2/20/19      (4,234
(2,400,000)    EURO-BOBL OEH9 C132.75 1/25/19      (5,500
2,300,000    IRO USD 30Y P2.9425 12/19 GLM      95,549  
(10,100,000)    IRO USD 5Y P2.75 12/12/19 GLM      (92,745
     

 

 

 
   Total Interest Rate Option Contracts    $ (10,350
   Futures Contracts***   
294,000,000    90DAY EURO$ FUTR DEC19 EDZ9    $ 7,350  
(136,000,000)    90DAY EURO$ FUTR DEC20 EDZ0      (11,900
117,000,000    90DAY EURO$ FUTR JUN19 EDM9      1,463  
4,900,000    EURO-BUND FUTURE MAR19 RXH9       
(5,900,000)    EURO-OAT FUTURE MAR19 OATH9       
(400,000,000)    JPN 10Y BOND(OSE) MAR19 JBH9      (2,186
46,900,000    US 10YR NOTE (CBT)MAR19 TYH9      183,203  
(31,000,000)    US 2YR NOTE (CBT) MAR19 TUH9      (21,797
52,300,000    US 5YR NOTE (CBT) MAR19 FVH9      130,750  
     

 

 

 
   Total Futures Contracts    $ 286,883  
     

 

 

 
   Total Cash, Cash Equivalents and Other Investments    $ 58,523,757  
     

 

 

 

 

49


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WARNER MEDIA, LLC SAVINGS PLAN

EIN: #82-2449954        Plan #336

Schedule H, Part IV, Line 4(i) – Schedule of Assets

(Held at End of Year) (continued)

December 31, 2018

 

Shares or Units

  

Description

                       Current Value                       
   Total Investments Excluding Notes Receivable from Participants    $ 5,087,856,434  
     

 

 

 
   Notes Receivable from Participants (interest rates from 4.25% to 10.50% maturing through January 2034)*    $ 61,257,213  
     

 

 

 
   Total Investments    $ 5,149,113,647  
     

 

 

 

 

*

Indicates party-in-interest to the Plan.

**

Difference between total synthetic investment contracts per the Schedule of Assets and per the Statements of Net Assets Available for Benefits is due to the presentation of synthetic investments at market value in the Schedule of Assets and contract value in the Statements of Net Assets Available for Benefits. See footnote 7 for reconciliation of this difference.

***

Negative “shares or units” represents the notional values of futures contracts with short positions.

 

50


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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee (or other persons who administer the employee benefit plan) has duly caused this annual report to be signed by the undersigned thereunto duly authorized.

 

      Warner Media, LLC Savings Plan
     

By: AT&T Services, Inc.,

Plan Administrator for the Foregoing Plan

    By   /s/ Debra L. Dial
      Debra L. Dial
      Senior Vice President and Controller
Date: June 28, 2019      


Table of Contents

EXHIBIT INDEX

Exhibit identified below, Exhibits 23 is filed herein as exhibit hereto.

 

Exhibit
Number

    
23
   Consent of Independent Registered Public Accounting Firm

Exhibit 23

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 333-225671) of our report dated June 28, 2019, with respect to the financial statements and supplemental schedules of the Warner Media, LLC Savings Plan included in this Annual Report (Form 11-K) for the year ended December 31, 2018.

/s/ Ernst & Young LLP

New York, NY

June 28, 2019

Categories

SEC Filings