SEC Form 11-K filed by Costco Wholesale Corporation
$COST
Department/Specialty Retail Stores
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 11-K
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☒ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
For the fiscal year ended December 31, 2023
☐ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
For the transition period from ______ to _____
| Commission File Number 0-20355 | ||
| A. Full title of the plan and the address of the plan, if different from that of the issuer named below: | ||
| Costco 401(k) Retirement Plan | ||
| B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: | ||
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Costco Wholesale Corporation
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999 Lake Drive
Issaquah, Washington 98027
COSTCO 401(k) RETIREMENT PLAN
Table of Contents
| Page | |||||
Financial Statements: | |||||
Supplementary Information: | |||||
| Exhibits: | |||||
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Plan Participants and Plan Administrator of
Costco 401(k) Retirement Plan
Issaquah, Washington
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of Costco 401(k) Retirement Plan (the "Plan") as of December 31, 2023 and 2022, the related statement of changes in net assets available for benefits for the year ended December 31, 2023, 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 as of December 31, 2023 and 2022, and the changes in net assets available for benefits for the year ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits 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 Information
The supplemental Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2023, has been subjected to audit procedures performed in conjunction with the audit of Costco 401(k) Retirement Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.
/s/ Crowe LLP
We have served as the Plan's auditor since 2023.
Oak Brook, Illinois
June 20, 2024
1
COSTCO 401(k) RETIREMENT PLAN
Statements of Net Assets Available for Benefits
December 31, 2023 and 2022
(in thousands)
| 2023 | 2022 | ||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||
| Investments at fair value | $ | 30,435,735 | $ | 23,048,193 | |||||||||||||||||||||||||
| Investments at contract value: | |||||||||||||||||||||||||||||
| Fully benefit-responsive investment contracts | 1,780,521 | 1,849,278 | |||||||||||||||||||||||||||
| Total investments | 32,216,256 | 24,897,471 | |||||||||||||||||||||||||||
| Receivables: | |||||||||||||||||||||||||||||
| Notes receivable from participants | 559,994 | 514,605 | |||||||||||||||||||||||||||
| Employee contributions | 43,139 | — | |||||||||||||||||||||||||||
| Employer contributions | 563,469 | 499,820 | |||||||||||||||||||||||||||
| Total receivables | 1,166,602 | 1,014,425 | |||||||||||||||||||||||||||
| Non-interest bearing cash | 1,988 | 1,066 | |||||||||||||||||||||||||||
| Net assets available for benefits | $ | 33,384,846 | $ | 25,912,962 | |||||||||||||||||||||||||
See accompanying notes to financial statements.
2
COSTCO 401(k) RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2023
(in thousands)
| 2023 | |||||||||||||||||||||||
| Net investment income: | |||||||||||||||||||||||
| Net appreciation of investments | $ | 7,325,457 | |||||||||||||||||||||
| Interest | 51,483 | ||||||||||||||||||||||
| Dividends | 166,802 | ||||||||||||||||||||||
| Total net investment income | 7,543,742 | ||||||||||||||||||||||
| Interest on notes receivable from participants | 31,413 | ||||||||||||||||||||||
| Contributions to the Plan: | |||||||||||||||||||||||
| Employee | 1,043,954 | ||||||||||||||||||||||
| Employer | 644,916 | ||||||||||||||||||||||
| Total contributions | 1,688,870 | ||||||||||||||||||||||
| Distributions to participants and other | (1,792,141) | ||||||||||||||||||||||
| Increase in net assets | 7,471,884 | ||||||||||||||||||||||
| Net assets available for benefits, beginning of year | 25,912,962 | ||||||||||||||||||||||
| Net assets available for benefits, end of year | $ | 33,384,846 | |||||||||||||||||||||
See accompanying notes to financial statements.
3
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements
December 31, 2023 and 2022
(1)Plan Description
The following description of the Costco 401(k) Retirement Plan (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan. To participate in the Plan, an individual must be at least 18 years of age and an employee of Costco Wholesale Corporation (the Company or Costco) or certain subsidiaries.
The Plan is a defined contribution plan for the benefit of eligible employees, established by the Company under Section 401(a) of the Internal Revenue Code (IRC). It includes a qualified cash or deferred arrangement as described in Section 401(k). The Plan is also subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.
(a)Employee Contributions
The Plan allows certain employees to make compensation deferral contributions after completing 90 days of service within 12-consecutive months. Eligible employees may contribute from 1% to 50% of their compensation, subject to certain limitations set by the IRC and the Plan. Eligible employees may also contribute amounts representing certain distributions from other retirement plans (rollover contributions).
All newly-eligible participants entering the Plan are automatically enrolled at a salary contribution rate of 4%. On an active participant’s employment anniversary date and each anniversary date thereafter the percentage deferred into the Plan automatically increases by one percentage point, to a maximum of 20%. Employees may opt out of automatic enrollment and increases. Contributions are subject to regulatory requirements.
(b)Employer Contributions
Company contributions are invested in accordance with selections made by participants. If no selection has been made, the contribution defaults to the Retirement Trust Fund corresponding to the participant's age. Employer contributions are allocated based on an employee’s classification as either: covered by the collective bargaining agreements with the International Brotherhood of Teamsters; or other eligible employment.
(1) Covered by the Teamsters Agreements
Eligible employees who have completed one year of service (12 consecutive months) are eligible for an annual employer contribution beginning on the next Plan entry date. Plan entry dates for the employer contribution are January 1 and July 1. The annual employer contribution is allocated only to the accounts of eligible Plan participants who are employed on the last day of the applicable Plan year. The allocation rate varies, based on years of service, ranging from $0.05 to $0.47 per straight-time hour worked during the Plan year, up to a maximum of 2,080 hours. This annual contribution was $6.4 million for the year ended December 31, 2023, and was deposited into the Plan and allocated to participant accounts in March 2024.
(2) Other eligible employment
The Company matches the lesser of 50% of each employee’s contribution or $500 per year. In addition, eligible employees who have completed one year of service (12 consecutive months) are eligible for an annual discretionary employer contribution beginning on the next Plan entry date. Plan entry dates for the discretionary contribution are January 1 and July 1. The discretionary contribution is allocated only to the accounts of eligible Plan participants who are employed on the last day of the applicable Plan year. The allocation rate varies, based on years of service, ranging from 4% to 9% of the participant's compensation. This discretionary
4
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2023 and 2022
contribution was $556.8 million for the year ended December 31, 2023, and was deposited into the Plan and allocated to participant accounts in March 2024.
(c)Participants’ Accounts
Each participant’s account is credited or debited with the participant’s contributions, the Company’s contributions, earnings and losses, fees, expenses, and changes in underlying account assets. The benefit to which a participant is entitled is the vested account balance.
(d)Vesting
Participants are immediately vested in their deferral contributions and in certain other contributions as defined in the Plan document, adjusted for investment experience, fees and expenses. Vesting in any form of employer contribution is based on the following schedule:
| Years of service | Percentage vested | |||||||||||||||||||||||||
| Under 2 years | 0% | |||||||||||||||||||||||||
| 2 years | 20% | |||||||||||||||||||||||||
| 3 years | 40% | |||||||||||||||||||||||||
| 4 years | 60% | |||||||||||||||||||||||||
| 5 years or more | 100% | |||||||||||||||||||||||||
(e)Forfeitures
If a participant terminates employment, the non-vested portion of the account balance is forfeited. The Plan document provides that forfeited amounts may at the Company's election be used to reduce future employer contributions or to pay administrative expenses. Forfeitures were immaterial during 2023. Unallocated forfeitures were immaterial as of December 31, 2023 and 2022, after consideration of forfeitures used to reduce the employer contributions funded subsequent to each year. Forfeitures are restored to a participant’s account if within five years the participant is re-hired and repays the vested account balance distributed upon termination.
(f)Investment Options
Participants may direct funds in their account to the Plan's available options. Participants may transfer amounts between investment options daily, subject to certain trading restrictions. Before 2016, participants could invest 100% of their account in Costco stock; starting January 2016, the Plan has a 50% limit on investment in Costco stock, applied prospectively.
Amounts may be temporarily invested in a cash account prior to investment in the Plan’s investment accounts. See Notes 2, 3 and 4 for additional information regarding the Plan's investments.
(g)Distributions
Upon termination of employment, total disability, reaching age 59-1/2 or death, a participant (or participant's beneficiary in the case of death) can request a full, partial or, in certain circumstances, installment or rollover distribution for the vested portion of the account. Participants are also eligible to withdraw a portion of the salary-deferral contribution account in the event of certain financial hardships.
Dividends on the Company's stock are reinvested in the participant’s Company stock account unless a distribution is requested by the participant. These dividends are reported on a gross basis, with total dividends reported as "Dividends" and the amounts distributed reported as "Distributions to participants and other" in the statement of changes in net assets available for benefits.
5
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2023 and 2022
(h)Notes Receivable from Participants
A participant may borrow between $1,000 up to the lesser of $50,000 or 45% of their vested account balance, reduced by the highest outstanding balance in the previous 12 months minus the outstanding balance of all loans on the date on which the loan is made, provided this amount is available in the participant's pre-tax and rollover accounts. Loans are repaid through payroll deductions over a period ranging up to four years or, if for the purchase of a principal residence, up to 15 years. The bi-weekly re-payment amount cannot exceed 25% of the participant's net pay. The interest rate is determined by the Plan Administrator from time-to-time and is comparable to rates charged by commercial lenders. At December 31, 2023, interest rates on loans outstanding ranged from 4.25% to 10.50%, with various maturities through December 2038. Participant accounts with loans are charged an application fee at initiation and an annual maintenance fee.
(i)Trustee, Recordkeeper, and Plan Administrator
Effective October 1, 2023, the Company elected to change the trustee of the Plan from T. Rowe Price Trust Company to Northern Trust Company. T. Rowe Price Retirement Services Inc. was retained as the recordkeeper for the Plan. The Costco Benefits Committee is the Plan Administrator.
(j)Administrative and Investment Expenses
Certain administrative expenses, including investment management and transaction fees, are paid by the Plan, subject to subparagraph (e) above. All other administrative expenses are paid by the Company.
(2)Summary of Significant Accounting Policies
(a)Basis of Accounting
The financial statements of the Plan are prepared under the accrual method of accounting. As required under U.S. generally accepted accounting principles (U.S. GAAP), fully benefit-responsive investment contracts (FBRIC) are reported at contract value (see Note 3), while all other investments in the Plan are reported at fair value (see Note 4). A FBRIC is a contract with a financial institution or an insurance company that provides for a stated return on principal invested over a specified period and permits withdrawals at contract value for benefit payments, loans, or transfers to other investment options offered to the participant by the Plan. Contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.
(b)Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates and assumptions.
(c)Investment Valuation and Income Recognition
The Plan invests in the Company’s common stock, common commingled trust funds and other exchange-traded equity securities held in separately managed accounts, as well as registered investment companies and the FBRIC.
Investments, other than the FBRIC, are reported at fair value. If available, quoted market prices are used to value investments. The FBRIC consists of the Capital Preservation Portfolio (CPP), which is invested in synthetic guaranteed investment contracts and is recorded at contract value. Contract value
6
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2023 and 2022
represents contributions made under each contract, plus earnings, less participant withdrawals and administrative expenses.
There are no reserves against contract value for credit risk of the contract issuer or otherwise. The crediting interest rate is based on a formula agreed upon with the issuer, but not less than zero. Such interest rates are reviewed on a quarterly basis for resetting. Certain events may limit the ability of the Plan to transact at contract value with the issuer. Events may include, but are not limited to, Plan termination, bankruptcy of the Company, or defunction of the trustee. In addition, certain events allow the issuer to terminate the contract and settle at an amount different from contract value. Examples of such events include: (1) an uncured violation of the Plan’s investment guidelines, (2) a breach of material obligation under the contract, (3) a material misrepresentation, or (4) a material amendment to the agreements without the consent of the issuer. The Plan Administrator believes at this time that any events that would limit the Plan’s ability to transact at contract value with participants or that allow the issuer to terminate the contract with the Plan are not probable.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation of investments includes the change in the fair value of assets from one period to the next, plus realized gains and losses.
Investment securities are exposed to various risks, such as interest rate, credit, and overall market volatility. Changes in the values of investment securities could occur, and those changes could materially affect the amounts reported in the statements of net assets available for benefits and participant account balances.
(d)Notes Receivable from Participants
Participant loans are classified as notes receivable from participants, which are segregated from Plan investments and measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable are reclassified as distributions based upon the terms of the Plan document.
(e)Distribution of Benefits
Distributions of benefits are recorded when paid.
(f) Subsequent Events
The Plan monitors significant events occurring after the statement of net assets available for benefits date and prior to the issuance of the financial statements to determine the impacts, if any, on the financial statements to be issued. The Plan has evaluated subsequent events through the date which the financial statements are issued.
(3)Fully Benefit-Responsive Investment Contract
The CPP is invested in synthetic guaranteed investment contracts, which consist of a portfolio of underlying assets owned by the Plan and wrap contracts issued by an insurance company and a financial institution. The issuers of the wrap contracts provide for unscheduled withdrawals from the contracts at contract value, regardless of the value of the underlying assets, in order to fund routine withdrawals.
(4)Fair Value Measurement
U.S. GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by
7
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2023 and 2022
applying a fair value hierarchy, which requires maximizing the use of observable inputs. The three levels of inputs are:
Level 1: Quoted market prices in active markets for identical assets or liabilities.
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3: Significant unobservable inputs that are not corroborated by market data.
The asset 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 maximize the use of relevant observable inputs and minimize the use of unobservable inputs. Valuation techniques utilized during the reporting period were not changed from previous practice. The following is a description of the valuation methodologies used for assets measured at fair value.
Common stock, underlying securities in separately managed accounts, and registered investment company funds: These investments are deemed to be actively traded and are valued at the closing price reported in the active market in which the individual securities are traded. These assets are valued using Level 1 inputs. Mutual funds held by the Plan are open-end mutual funds that are registered with the U.S. Securities and Exchange Commission. Separately managed accounts largely consist of common stock and a collective trust as of December 31, 2023, and 2022.
Common commingled trust funds: The valuation techniques used to measure the fair value of common commingled trust funds are based on quoted market prices, such as quoted net asset values (NAV) published by the fund as supported in an active market. Plan participant transactions of investment or withdrawals may occur on a daily basis in these trusts. These assets are valued using Level 1 inputs.
The tables below present information regarding investments that are measured at fair value on a recurring basis and indicate the level within the hierarchy reflecting the valuation techniques utilized to determine fair value as of December 31, 2023, and 2022.
| December 31, 2023: | Level 1 (in 000's) | ||||
| Investments, at fair value: | |||||
| Costco Wholesale Corporation common stock | $ | 15,977,459 | |||
| Common commingled trust funds | 10,080,126 | ||||
| Separately managed accounts | 2,491,563 | ||||
| Registered investment company funds | 1,886,587 | ||||
| Total investments in fair value hierarchy | $ | 30,435,735 | |||
| December 31, 2022: | Level 1 (in 000's) | ||||
| Investments, at fair value: | |||||
| Costco Wholesale Corporation common stock | $ | 11,486,680 | |||
| Common commingled trust funds | 7,865,744 | ||||
| Separately managed accounts | 2,171,053 | ||||
| Registered investment company funds | 1,524,716 | ||||
| Total investments in fair value hierarchy | $ | 23,048,193 | |||
8
COSTCO 401(k) RETIREMENT PLAN
Notes to Financial Statements (Continued)
December 31, 2023 and 2022
(5)Plan Termination
Although it has no present intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to ERISA and the requirements of the collective bargaining agreements with the Teamsters. In the event of termination, participants will become 100% vested in their accounts.
(6)Tax Status
In a determination letter dated June 9, 2017, the Internal Revenue Service informed the Company that the Plan is designed in accordance with applicable sections of the IRC. The Plan has since been restated and amended. The Plan Administrator believes that the Plan is designed and is being operated in compliance with the IRC.
U.S. GAAP requires the Plan Administrator to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has concluded that as of December 31, 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; there are currently no audits in progress.
(7)Party-in-Interest and Related Party Transactions
Certain Plan investments are shares of registered investment companies, fully benefit-responsive investment contracts, and common commingled trust funds managed by Northern Trust Company and T. Rowe Price Trust Company. Northern Trust Company and T. Rowe Price Retirement Services Inc. are the trustee and recordkeeper as defined by the Plan, therefore these transactions qualify as exempt party-in-interest transactions.
As the Plan sponsor, the Company is a party-in-interest with respect to the Plan. At December 31, 2023 and 2022, the Plan held 24,205,000 and 25,162,000 shares of Costco common stock. During 2023, 643,000 shares were purchased and 1,600,000 shares were sold.
9
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
EIN: 91-1223280 Plan #: 002
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Registered investment company and common commingled trust funds: | |||||||||||||||||||||||||||||||||||
| Capital Group | New Perspective Trust U3 | ** | $ | 477,065 | |||||||||||||||||||||||||||||||
| PIMCO | Income Institutional | ** | 499,987 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | Retirement Balanced Trust J | ** | 30,408 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2005 Active Trust J | ** | 21,782 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2010 Active Trust J | ** | 36,126 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2015 Active Trust J | ** | 116,016 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2020 Active Trust J | ** | 372,140 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2025 Active Trust J | ** | 786,144 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2030 Active Trust J | ** | 1,096,452 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2035 Active Trust J | ** | 1,044,923 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2040 Active Trust J | ** | 1,208,119 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2045 Active Trust J | ** | 1,366,606 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2050 Active Trust J | ** | 929,047 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2055 Active Trust J | ** | 1,110,512 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2060 Active Trust J | ** | 537,565 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2065 Active Trust J | ** | 95,198 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price | TRP Ret 2020 Active Trust-Income J | ** | 6,289 | ||||||||||||||||||||||||||||||||
| Vanguard | Extended Market Index Institutional | ** | 74,151 | ||||||||||||||||||||||||||||||||
| Vanguard | Total International Stock Index Institutional | ** | 74,258 | ||||||||||||||||||||||||||||||||
| Vanguard | Total Bond Market Index Fund Institutional | ** | 122,703 | ||||||||||||||||||||||||||||||||
| Vanguard | Institutional Index, Plus | ** | 1,115,488 | ||||||||||||||||||||||||||||||||
| Wellington | CIF II Growth S5 | ** | 845,734 | ||||||||||||||||||||||||||||||||
| Total registered investment company and common commingled trust funds | 11,966,713 | ||||||||||||||||||||||||||||||||||
| Separately managed accounts: | |||||||||||||||||||||||||||||||||||
| Mid-Cap Growth Portfolio: | |||||||||||||||||||||||||||||||||||
| Acadia Healthcare Company Inc. | Common Stock | ** | 14,555 | ||||||||||||||||||||||||||||||||
| Agilent Technologies Inc. | Common Stock | ** | 31,406 | ||||||||||||||||||||||||||||||||
| Agilon Health Inc. | Common Stock | ** | 2,646 | ||||||||||||||||||||||||||||||||
| Alnylam Pharmaceuticals Inc. | Common Stock | ** | 14,560 | ||||||||||||||||||||||||||||||||
| Amphenol Corp. - Class A | Common Stock | ** | 12,050 | ||||||||||||||||||||||||||||||||
| Apellis Pharmaceuticals Inc. | Common Stock | ** | 3,583 | ||||||||||||||||||||||||||||||||
| Assurant Inc. | Common Stock | ** | 15,340 | ||||||||||||||||||||||||||||||||
| Atlassian Corp. - Class A | Common Stock | ** | 6,791 | ||||||||||||||||||||||||||||||||
| Avantor Inc. | Common Stock | ** | 20,726 | ||||||||||||||||||||||||||||||||
| Avery Dennison Corp. | Common Stock | ** | 18,103 | ||||||||||||||||||||||||||||||||
| Ball Corp. | Common Stock | ** | 23,532 | ||||||||||||||||||||||||||||||||
| Bath & Body Works Inc. | Common Stock | ** | 11,047 | ||||||||||||||||||||||||||||||||
| Bill Holdings Inc. | Common Stock | ** | 1,829 | ||||||||||||||||||||||||||||||||
| Biogen Inc. | Common Stock | ** | 10,591 | ||||||||||||||||||||||||||||||||
| Boston Beer Company Inc. - Class A | Common Stock | ** | 3,878 | ||||||||||||||||||||||||||||||||
| Bright Horizons Family Solutions Inc. | Common Stock | ** | 4,158 | ||||||||||||||||||||||||||||||||
| Broadridge Financial Solutions Inc. | Common Stock | ** | 12,062 | ||||||||||||||||||||||||||||||||
| Bruker Corp. | Common Stock | ** | 18,115 | ||||||||||||||||||||||||||||||||
| Burlington Stores Inc. | Common Stock | ** | 16,600 | ||||||||||||||||||||||||||||||||
| BWX Technologies Inc. | Common Stock | ** | 6,136 | ||||||||||||||||||||||||||||||||
10
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Caesars Entertainment Inc. | Common Stock | ** | 6,316 | ||||||||||||||||||||||||||||||||
| Casey's General Stores Inc. | Common Stock | ** | 11,218 | ||||||||||||||||||||||||||||||||
| Catalent Inc. | Common Stock | ** | 9,447 | ||||||||||||||||||||||||||||||||
| Cboe Global Markets Inc. | Common Stock | ** | 2,371 | ||||||||||||||||||||||||||||||||
| CCC Intelligent Solutions Holdings Inc. | Common Stock | ** | 8,889 | ||||||||||||||||||||||||||||||||
| Cheniere Energy Inc. | Common Stock | ** | 18,047 | ||||||||||||||||||||||||||||||||
| Chesapeake Energy Corp. | Common Stock | ** | 3,464 | ||||||||||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | Common Stock | ** | 5,479 | ||||||||||||||||||||||||||||||||
| Clear Secure Inc. - Class A | Common Stock | ** | 1,504 | ||||||||||||||||||||||||||||||||
| Cognex Corp. | Common Stock | ** | 4,550 | ||||||||||||||||||||||||||||||||
| Cooper Companies Inc. | Common Stock | ** | 14,356 | ||||||||||||||||||||||||||||||||
| Corpay Inc. | Common Stock | ** | 11,482 | ||||||||||||||||||||||||||||||||
| Costar Group Inc. | Common Stock | ** | 12,728 | ||||||||||||||||||||||||||||||||
| Coterra Energy Inc. | Common Stock | ** | 6,583 | ||||||||||||||||||||||||||||||||
| Crowdstrike Holdings Inc. - Class A | Common Stock | ** | 25,772 | ||||||||||||||||||||||||||||||||
| Dentsply Sirona Inc. | Common Stock | ** | 5,923 | ||||||||||||||||||||||||||||||||
| Dollar General Corp. | Common Stock | ** | 3,365 | ||||||||||||||||||||||||||||||||
| Dollar Tree Inc. | Common Stock | ** | 15,429 | ||||||||||||||||||||||||||||||||
| Domino's Pizza Inc. | Common Stock | ** | 22,020 | ||||||||||||||||||||||||||||||||
| Enovis Corp. | Common Stock | ** | 8,020 | ||||||||||||||||||||||||||||||||
| EQT Corp. | Common Stock | ** | 11,694 | ||||||||||||||||||||||||||||||||
| Equifax Inc. | Common Stock | ** | 20,440 | ||||||||||||||||||||||||||||||||
| Esab Corp. | Common Stock | ** | 12,338 | ||||||||||||||||||||||||||||||||
| Exact Sciences Corp. | Common Stock | ** | 4,778 | ||||||||||||||||||||||||||||||||
| Fair Isaac Corp. | Common Stock | ** | 15,687 | ||||||||||||||||||||||||||||||||
| Five Below Inc. | Common Stock | ** | 11,853 | ||||||||||||||||||||||||||||||||
| Fortinet Inc. | Common Stock | ** | 7,257 | ||||||||||||||||||||||||||||||||
| Fortive Corp. | Common Stock | ** | 14,708 | ||||||||||||||||||||||||||||||||
| Hilton Worldwide Holdings Inc. | Common Stock | ** | 25,158 | ||||||||||||||||||||||||||||||||
| Hologic Inc. | Common Stock | ** | 34,373 | ||||||||||||||||||||||||||||||||
| Howmet Aerospace Inc. | Common Stock | ** | 1,437 | ||||||||||||||||||||||||||||||||
| Idex Corp. | Common Stock | ** | 8,128 | ||||||||||||||||||||||||||||||||
| Ingersoll Rand Inc. | Common Stock | ** | 24,390 | ||||||||||||||||||||||||||||||||
| Intercontinental Exchange Inc. | Common Stock | ** | 15,654 | ||||||||||||||||||||||||||||||||
| Ionis Pharmaceuticals Inc. | Common Stock | ** | 10,777 | ||||||||||||||||||||||||||||||||
| J.B. Hunt Transport Services Inc. | Common Stock | ** | 23,210 | ||||||||||||||||||||||||||||||||
| Karuna Therapeutics Inc. | Common Stock | ** | 9,683 | ||||||||||||||||||||||||||||||||
| Kenvue Inc. | Common Stock | ** | 4,351 | ||||||||||||||||||||||||||||||||
| Keysight Technologies Inc. | Common Stock | ** | 18,359 | ||||||||||||||||||||||||||||||||
| KKR & Co Inc. | Common Stock | ** | 19,990 | ||||||||||||||||||||||||||||||||
| KLA Corp. | Common Stock | ** | 9,791 | ||||||||||||||||||||||||||||||||
| Lattice Semiconductor Corp. | Common Stock | ** | 14,160 | ||||||||||||||||||||||||||||||||
| Liberty Media Corp. - Series C | Common Stock | ** | 8,941 | ||||||||||||||||||||||||||||||||
| Littelfuse Inc. | Common Stock | ** | 2,431 | ||||||||||||||||||||||||||||||||
| Lululemon Athletica Inc. | Common Stock | ** | 6,891 | ||||||||||||||||||||||||||||||||
| Markel Group Inc. | Common Stock | ** | 4,819 | ||||||||||||||||||||||||||||||||
| Marketaxess Holdings Inc. | Common Stock | ** | 7,747 | ||||||||||||||||||||||||||||||||
11
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Martin Marietta Materials | Common Stock | ** | 17,834 | ||||||||||||||||||||||||||||||||
| Marvell Technology Inc. | Common Stock | ** | 35,301 | ||||||||||||||||||||||||||||||||
| Match Group Inc. | Common Stock | ** | 4,910 | ||||||||||||||||||||||||||||||||
| Mettler-Toldeo International Inc. | Common Stock | ** | 4,965 | ||||||||||||||||||||||||||||||||
| MGM Resorts International | Common Stock | ** | 7,050 | ||||||||||||||||||||||||||||||||
| Microchip Technology Inc. | Common Stock | ** | 42,663 | ||||||||||||||||||||||||||||||||
| Mobileye Global Inc. - Class A | Common Stock | ** | 1,732 | ||||||||||||||||||||||||||||||||
| Molina Healthcare Inc. | Common Stock | ** | 11,939 | ||||||||||||||||||||||||||||||||
| MongoDB Inc. | Common Stock | ** | 4,490 | ||||||||||||||||||||||||||||||||
| New York Times Co. - Class A | Common Stock | ** | 6,108 | ||||||||||||||||||||||||||||||||
| O'Reilly Automotive Inc. | Common Stock | ** | 1,897 | ||||||||||||||||||||||||||||||||
| Paylocity Holding Corp. | Common Stock | ** | 11,042 | ||||||||||||||||||||||||||||||||
| Pioneer Natural Resources Co. | Common Stock | ** | 2,029 | ||||||||||||||||||||||||||||||||
| PTC Inc. | Common Stock | ** | 20,504 | ||||||||||||||||||||||||||||||||
| Pure Storage Inc. - Class A | Common Stock | ** | 1,606 | ||||||||||||||||||||||||||||||||
| Quanta Services Inc. | Common Stock | ** | 3,836 | ||||||||||||||||||||||||||||||||
| Quidelortho Corp. | Common Stock | ** | 9,524 | ||||||||||||||||||||||||||||||||
| Range Resources Corp. | Common Stock | ** | 5,193 | ||||||||||||||||||||||||||||||||
| Raymond James Financial Inc. | Common Stock | ** | 8,829 | ||||||||||||||||||||||||||||||||
| Reynolds Consumer Products Inc. | Common Stock | ** | 4,681 | ||||||||||||||||||||||||||||||||
| Roper Technologies Inc. | Common Stock | ** | 10,449 | ||||||||||||||||||||||||||||||||
| Ross Stores Inc. | Common Stock | ** | 15,459 | ||||||||||||||||||||||||||||||||
| RPM International Inc. | Common Stock | ** | 6,965 | ||||||||||||||||||||||||||||||||
| Sarepta Therapeutics Inc. | Common Stock | ** | 3,836 | ||||||||||||||||||||||||||||||||
| Sealed Air Corp. | Common Stock | ** | 8,400 | ||||||||||||||||||||||||||||||||
| Shoals Technologies Group - Class A | Common Stock | ** | 1,671 | ||||||||||||||||||||||||||||||||
| Southwest Airlines Co. | Common Stock | ** | 6,550 | ||||||||||||||||||||||||||||||||
| Teleflex Inc. | Common Stock | ** | 29,111 | ||||||||||||||||||||||||||||||||
| Textron Inc. | Common Stock | ** | 24,039 | ||||||||||||||||||||||||||||||||
| Tractor Supply Co. | Common Stock | ** | 3,084 | ||||||||||||||||||||||||||||||||
| Trade Desk Inc/The - Class A | Common Stock | ** | 23,699 | ||||||||||||||||||||||||||||||||
| Tradeweb Markets Inc. - Class A | Common Stock | ** | 14,861 | ||||||||||||||||||||||||||||||||
| Transunion | Common Stock | ** | 9,864 | ||||||||||||||||||||||||||||||||
| Treehouse Foods Inc. | Common Stock | ** | 5,145 | ||||||||||||||||||||||||||||||||
| Tyler Technologies Inc. | Common Stock | ** | 10,143 | ||||||||||||||||||||||||||||||||
| Ulta Beauty Inc. | Common Stock | ** | 7,826 | ||||||||||||||||||||||||||||||||
| United Rentals Inc. | Common Stock | ** | 13,681 | ||||||||||||||||||||||||||||||||
| Veeva Systems Inc. - Class A | Common Stock | ** | 18,564 | ||||||||||||||||||||||||||||||||
| Veralto Corp. | Common Stock | ** | 7,317 | ||||||||||||||||||||||||||||||||
| Verisk Analytics Inc. | Common Stock | ** | 7,535 | ||||||||||||||||||||||||||||||||
| West Pharmaceutical Services | Common Stock | ** | 9,162 | ||||||||||||||||||||||||||||||||
| Yum! Brands Inc. | Common Stock | ** | 14,932 | ||||||||||||||||||||||||||||||||
| Alcon AG | Foreign Stock | ** | 10,949 | ||||||||||||||||||||||||||||||||
| Argenx SE - ADR | Foreign Stock | ** | 7,302 | ||||||||||||||||||||||||||||||||
| Ascendis Pharma A/S - ADR | Foreign Stock | ** | 6,362 | ||||||||||||||||||||||||||||||||
| Axis Capital Holdings Ltd. | Foreign Stock | ** | 3,694 | ||||||||||||||||||||||||||||||||
| Birkenstock Holding PLC | Foreign Stock | ** | 3,084 | ||||||||||||||||||||||||||||||||
12
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Crispr Therapeutics AG | Foreign Stock | ** | 3,445 | ||||||||||||||||||||||||||||||||
| NXP Semiconductors N.V. | Foreign Stock | ** | 6,909 | ||||||||||||||||||||||||||||||||
| Spotify Technology SA | Foreign Stock | ** | 18,459 | ||||||||||||||||||||||||||||||||
| TechnipFMC PLC | Foreign Stock | ** | 9,931 | ||||||||||||||||||||||||||||||||
| Waste Connections Inc. | Foreign Stock | ** | 4,605 | ||||||||||||||||||||||||||||||||
| Weatherford International PLC | Foreign Stock | ** | 1,543 | ||||||||||||||||||||||||||||||||
| Caris Life, Series D Convertible | Preferred Stock | ** | 462 | ||||||||||||||||||||||||||||||||
| Databricks, Series H Convertible | Preferred Stock | ** | 726 | ||||||||||||||||||||||||||||||||
| Databricks, Series I Convertible | Preferred Stock | ** | 309 | ||||||||||||||||||||||||||||||||
| Maplebear Dba Instacart, Series E Convertible | Preferred Stock | ** | 524 | ||||||||||||||||||||||||||||||||
| Nuro, Series D Convertible | Preferred Stock | ** | 139 | ||||||||||||||||||||||||||||||||
| Redwood Materials, Series C Convertible | Preferred Stock | ** | 768 | ||||||||||||||||||||||||||||||||
| Sila Nanotechnologies Inc., Series F Convertible | Preferred Stock | ** | 692 | ||||||||||||||||||||||||||||||||
| Cash | Cash | ** | 9 | ||||||||||||||||||||||||||||||||
| *Northern Institutional Treasury Portfolio Premier Shares | Money Market Securities | ** | 1,317 | ||||||||||||||||||||||||||||||||
| *T.Rowe Price Treasury Reserve Fund | Money Market Securities | ** | 25,410 | ||||||||||||||||||||||||||||||||
| Large Cap Value Portfolio: | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | Common Stock | ** | 342 | ||||||||||||||||||||||||||||||||
| Agilent Technologies Inc. | Common Stock | ** | 682 | ||||||||||||||||||||||||||||||||
| Allstate Corp. | Common Stock | ** | 3,811 | ||||||||||||||||||||||||||||||||
| Alphabet Inc. - Class C | Common Stock | ** | 1,878 | ||||||||||||||||||||||||||||||||
| Ameren Corporation | Common Stock | ** | 3,155 | ||||||||||||||||||||||||||||||||
| American Express Company | Common Stock | ** | 5,007 | ||||||||||||||||||||||||||||||||
| Ametek Inc. | Common Stock | ** | 3,842 | ||||||||||||||||||||||||||||||||
| Amgen Inc. | Common Stock | ** | 4,331 | ||||||||||||||||||||||||||||||||
| Amphenol Corp. - Class A | Common Stock | ** | 1,947 | ||||||||||||||||||||||||||||||||
| Analog Devices Inc. | Common Stock | ** | 2,204 | ||||||||||||||||||||||||||||||||
| Applied Materials Inc. | Common Stock | ** | 3,931 | ||||||||||||||||||||||||||||||||
| Autozone Inc. | Common Stock | ** | 3,306 | ||||||||||||||||||||||||||||||||
| Bank of America Corp. | Common Stock | ** | 8,994 | ||||||||||||||||||||||||||||||||
| Becton, Dickinson and Co. | Common Stock | ** | 837 | ||||||||||||||||||||||||||||||||
| Berkshire Hathaway Inc. - Class B | Common Stock | ** | 14,466 | ||||||||||||||||||||||||||||||||
| Booking Holdings Inc. | Common Stock | ** | 4,252 | ||||||||||||||||||||||||||||||||
| Carrier Global Corporation | Common Stock | ** | 2,134 | ||||||||||||||||||||||||||||||||
| Caterpillar Inc. | Common Stock | ** | 325 | ||||||||||||||||||||||||||||||||
| Cencora Inc. | Common Stock | ** | 8,071 | ||||||||||||||||||||||||||||||||
| Charles Schwab Corporation | Common Stock | ** | 4,251 | ||||||||||||||||||||||||||||||||
| Chevron Corp. | Common Stock | ** | 5,312 | ||||||||||||||||||||||||||||||||
| CME Group Inc. | Common Stock | ** | 3,647 | ||||||||||||||||||||||||||||||||
| Coca-Cola Co/The | Common Stock | ** | 2,644 | ||||||||||||||||||||||||||||||||
| Colgate-Palmolive Company | Common Stock | ** | 3,220 | ||||||||||||||||||||||||||||||||
| Conocophillips | Common Stock | ** | 5,733 | ||||||||||||||||||||||||||||||||
| Constellation Brands Inc. - Class A | Common Stock | ** | 4,752 | ||||||||||||||||||||||||||||||||
| Corebridge Financial Inc. | Common Stock | ** | 1,399 | ||||||||||||||||||||||||||||||||
| Corpay Inc. | Common Stock | ** | 1,623 | ||||||||||||||||||||||||||||||||
13
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| CSX Corp. | Common Stock | ** | 6,603 | ||||||||||||||||||||||||||||||||
| Cummins Inc. | Common Stock | ** | 3,328 | ||||||||||||||||||||||||||||||||
| Danaher Corp. | Common Stock | ** | 2,977 | ||||||||||||||||||||||||||||||||
| Deere & Company | Common Stock | ** | 1,605 | ||||||||||||||||||||||||||||||||
| Diamondback Energy Inc. | Common Stock | ** | 1,426 | ||||||||||||||||||||||||||||||||
| Dover Corp. | Common Stock | ** | 830 | ||||||||||||||||||||||||||||||||
| East West Bancorp Inc. | Common Stock | ** | 897 | ||||||||||||||||||||||||||||||||
| Elevance Health Inc. | Common Stock | ** | 11,947 | ||||||||||||||||||||||||||||||||
| EQT Corp. | Common Stock | ** | 4,846 | ||||||||||||||||||||||||||||||||
| Equity Lifestyle Properties | Common Stock | ** | 2,369 | ||||||||||||||||||||||||||||||||
| Extra Space Storage Inc. | Common Stock | ** | 1,284 | ||||||||||||||||||||||||||||||||
| Exxon Mobil Corp. | Common Stock | ** | 4,389 | ||||||||||||||||||||||||||||||||
| Firstenergy Corp. | Common Stock | ** | 832 | ||||||||||||||||||||||||||||||||
| Fiserv Inc. | Common Stock | ** | 8,551 | ||||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | Common Stock | ** | 3,744 | ||||||||||||||||||||||||||||||||
| GE Healthcare Technologies Inc. | Common Stock | ** | 3,834 | ||||||||||||||||||||||||||||||||
| General Dynamics Corp. | Common Stock | ** | 3,687 | ||||||||||||||||||||||||||||||||
| General Electric Co. | Common Stock | ** | 6,311 | ||||||||||||||||||||||||||||||||
| Goldman Sachs Group Inc. | Common Stock | ** | 4,004 | ||||||||||||||||||||||||||||||||
| Halliburton Company | Common Stock | ** | 4,991 | ||||||||||||||||||||||||||||||||
| Hartford Financial Service Group Inc. | Common Stock | ** | 1,897 | ||||||||||||||||||||||||||||||||
| HCA Healthcare Inc. | Common Stock | ** | 3,439 | ||||||||||||||||||||||||||||||||
| Hilton Worldwide Holdings Inc. | Common Stock | ** | 1,274 | ||||||||||||||||||||||||||||||||
| Home Depot Inc. | Common Stock | ** | 2,223 | ||||||||||||||||||||||||||||||||
| Humana Inc. | Common Stock | ** | 1,759 | ||||||||||||||||||||||||||||||||
| IDEX Corp. | Common Stock | ** | 2,431 | ||||||||||||||||||||||||||||||||
| Intel Corp. | Common Stock | ** | 3,065 | ||||||||||||||||||||||||||||||||
| Johnson & Johnson | Common Stock | ** | 5,283 | ||||||||||||||||||||||||||||||||
| JPMorgan Chase & Co. | Common Stock | ** | 13,105 | ||||||||||||||||||||||||||||||||
| Kenvue Inc. | Common Stock | ** | 7,075 | ||||||||||||||||||||||||||||||||
| Kinder Morgan Inc. | Common Stock | ** | 2,956 | ||||||||||||||||||||||||||||||||
| Kraft Heinz Co/The | Common Stock | ** | 1,170 | ||||||||||||||||||||||||||||||||
| L3Harris Technologies Inc. | Common Stock | ** | 3,717 | ||||||||||||||||||||||||||||||||
| Lam Research Corp. | Common Stock | ** | 3,885 | ||||||||||||||||||||||||||||||||
| Martin Marietta Materials Inc. | Common Stock | ** | 1,234 | ||||||||||||||||||||||||||||||||
| McDonald's Corp. | Common Stock | ** | 3,886 | ||||||||||||||||||||||||||||||||
| Medtronic PLC | Common Stock | ** | 2,309 | ||||||||||||||||||||||||||||||||
| Merck & Co. Inc. | Common Stock | ** | 4,951 | ||||||||||||||||||||||||||||||||
| Metlife Inc. | Common Stock | ** | 5,142 | ||||||||||||||||||||||||||||||||
| Micron Technologies Inc. | Common Stock | ** | 3,544 | ||||||||||||||||||||||||||||||||
| Mircrosoft Corp. | Common Stock | ** | 1,807 | ||||||||||||||||||||||||||||||||
| Mondelez International Inc. - Class A | Common Stock | ** | 7,032 | ||||||||||||||||||||||||||||||||
| NextEra Energy Inc. | Common Stock | ** | 4,551 | ||||||||||||||||||||||||||||||||
| Norfolk Southern Corp. | Common Stock | ** | 2,531 | ||||||||||||||||||||||||||||||||
| Northrop Grumman Corp. | Common Stock | ** | 1,492 | ||||||||||||||||||||||||||||||||
| Norwegian Cruise Line Holdings Ltd. | Common Stock | ** | 1,004 | ||||||||||||||||||||||||||||||||
| NOV Inc. | Common Stock | ** | 460 | ||||||||||||||||||||||||||||||||
14
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| NRG Energy Inc. | Common Stock | ** | 925 | ||||||||||||||||||||||||||||||||
| PepsiCo Inc. | Common Stock | ** | 2,236 | ||||||||||||||||||||||||||||||||
| Philip Morris International Inc. | Common Stock | ** | 6,475 | ||||||||||||||||||||||||||||||||
| Pioneer Natural Resources Company | Common Stock | ** | 607 | ||||||||||||||||||||||||||||||||
| PNC Financial Services Group Inc. | Common Stock | ** | 3,299 | ||||||||||||||||||||||||||||||||
| Proctor & Gamble Co/The | Common Stock | ** | 6,484 | ||||||||||||||||||||||||||||||||
| Progressive Corp. | Common Stock | ** | 3,975 | ||||||||||||||||||||||||||||||||
| Prolongis Inc. | Common Stock | ** | 2,461 | ||||||||||||||||||||||||||||||||
| Public Storage | Common Stock | ** | 3,903 | ||||||||||||||||||||||||||||||||
| Qualcomm Inc. | Common Stock | ** | 4,251 | ||||||||||||||||||||||||||||||||
| Range Resources Corp. | Common Stock | ** | 3,880 | ||||||||||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | Common Stock | ** | 131 | ||||||||||||||||||||||||||||||||
| Salesforce Inc. | Common Stock | ** | 1,973 | ||||||||||||||||||||||||||||||||
| Schlumberger Ltd. | Common Stock | ** | 4,124 | ||||||||||||||||||||||||||||||||
| Service Corporation International | Common Stock | ** | 1,588 | ||||||||||||||||||||||||||||||||
| Southern Co/The | Common Stock | ** | 2,207 | ||||||||||||||||||||||||||||||||
| TE Connectivity Ltd. | Common Stock | ** | 2,787 | ||||||||||||||||||||||||||||||||
| Tenet Healthcare Corp. | Common Stock | ** | 2,205 | ||||||||||||||||||||||||||||||||
| Texas Instruments Corp. | Common Stock | ** | 6,331 | ||||||||||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | Common Stock | ** | 3,064 | ||||||||||||||||||||||||||||||||
| T-Mobile US Inc. | Common Stock | ** | 4,392 | ||||||||||||||||||||||||||||||||
| Tractor Supply Company | Common Stock | ** | 1,139 | ||||||||||||||||||||||||||||||||
| Travelers Cos Inc/The | Common Stock | ** | 5,122 | ||||||||||||||||||||||||||||||||
| Ulta Beauty Inc. | Common Stock | ** | 2,552 | ||||||||||||||||||||||||||||||||
| Union Pacific Corp. | Common Stock | ** | 5,699 | ||||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | Common Stock | ** | 1,625 | ||||||||||||||||||||||||||||||||
| Veralto Corp. | Common Stock | ** | 1,348 | ||||||||||||||||||||||||||||||||
| Visa Inc. - Class A | Common Stock | ** | 1,432 | ||||||||||||||||||||||||||||||||
| Walmart Inc. | Common Stock | ** | 5,841 | ||||||||||||||||||||||||||||||||
| Wells Fargo & Co. | Common Stock | ** | 6,438 | ||||||||||||||||||||||||||||||||
| Wabtec Corp. | Common Stock | ** | 4,825 | ||||||||||||||||||||||||||||||||
| Weyerhaeuser Co. | Common Stock | ** | 2,672 | ||||||||||||||||||||||||||||||||
| Williams Companies Inc. | Common Stock | ** | 1,339 | ||||||||||||||||||||||||||||||||
| Astrazeneca PLC - Sponsored ADR | Foreign Stock | ** | 4,050 | ||||||||||||||||||||||||||||||||
| Chubb Ltd. | Foreign Stock | ** | 2,704 | ||||||||||||||||||||||||||||||||
| Franco-Nevada Corp. | Foreign Stock | ** | 1,352 | ||||||||||||||||||||||||||||||||
| Linde PLC | Foreign Stock | ** | 4,312 | ||||||||||||||||||||||||||||||||
| Nutrien Ltd. | Foreign Stock | ** | 1,272 | ||||||||||||||||||||||||||||||||
| NXP Semiconductors NV | Foreign Stock | ** | 5,362 | ||||||||||||||||||||||||||||||||
| Siemens AG | Foreign Stock | ** | 3,125 | ||||||||||||||||||||||||||||||||
| Southern Copper Corp. | Foreign Stock | ** | 1,069 | ||||||||||||||||||||||||||||||||
| Wheaton Precious Metals Corp. | Foreign Stock | ** | 1,919 | ||||||||||||||||||||||||||||||||
| Cash | Cash | ** | 12 | ||||||||||||||||||||||||||||||||
| *Northern Institutional Treasury Portfolio | Money Market Securities | ** | 1,004 | ||||||||||||||||||||||||||||||||
| *T. Rowe Price Government Reserve Fund | Money Market Securities | ** | 7,096 | ||||||||||||||||||||||||||||||||
| Small-Cap Core Portfolio: | |||||||||||||||||||||||||||||||||||
| 10X Genomics Inc. - Class A | Common Stock | ** | 1,651 | ||||||||||||||||||||||||||||||||
15
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| AAON Inc. | Common Stock | ** | 1,550 | ||||||||||||||||||||||||||||||||
| Agilysys Inc. | Common Stock | ** | 1,810 | ||||||||||||||||||||||||||||||||
| Agios Pharmaceuticals Inc. | Common Stock | ** | 533 | ||||||||||||||||||||||||||||||||
| Alignment Healthcare Inc. | Common Stock | ** | 1,395 | ||||||||||||||||||||||||||||||||
| Allegiant Travel Co. | Common Stock | ** | 1,265 | ||||||||||||||||||||||||||||||||
| Allegro Microsystems Inc. | Common Stock | ** | 1,295 | ||||||||||||||||||||||||||||||||
| Altair Engineering Inc. - Class A | Common Stock | ** | 2,010 | ||||||||||||||||||||||||||||||||
| Amplitude Inc. - Class A | Common Stock | ** | 1,990 | ||||||||||||||||||||||||||||||||
| Apellis Pharmaceuticals Inc. | Common Stock | ** | 3,605 | ||||||||||||||||||||||||||||||||
| Arcellx Inc. | Common Stock | ** | 1,159 | ||||||||||||||||||||||||||||||||
| Arcosa Inc. | Common Stock | ** | 1,462 | ||||||||||||||||||||||||||||||||
| ASGN Inc. | Common Stock | ** | 990 | ||||||||||||||||||||||||||||||||
| Assurant Inc. | Common Stock | ** | 3,728 | ||||||||||||||||||||||||||||||||
| Avid Bioservices Inc. | Common Stock | ** | 725 | ||||||||||||||||||||||||||||||||
| Azenta Inc. | Common Stock | ** | 536 | ||||||||||||||||||||||||||||||||
| AZZ Inc. | Common Stock | ** | 3,506 | ||||||||||||||||||||||||||||||||
| BankUnited Inc. | Common Stock | ** | 1,782 | ||||||||||||||||||||||||||||||||
| Beacon Roofing Supply Inc. | Common Stock | ** | 3,040 | ||||||||||||||||||||||||||||||||
| Bellring Brands Inc. | Common Stock | ** | 5,219 | ||||||||||||||||||||||||||||||||
| BJ's Restaurants Inc. | Common Stock | ** | 2,185 | ||||||||||||||||||||||||||||||||
| Blue Foundry Bancorp. | Common Stock | ** | 365 | ||||||||||||||||||||||||||||||||
| Blueprint Medicines Corp. | Common Stock | ** | 2,398 | ||||||||||||||||||||||||||||||||
| Booz Allen Hamilton Holdings | Common Stock | ** | 1,102 | ||||||||||||||||||||||||||||||||
| Boston Beer Company Inc. - Class A | Common Stock | ** | 3,336 | ||||||||||||||||||||||||||||||||
| Braze Inc. - Class A | Common Stock | ** | 764 | ||||||||||||||||||||||||||||||||
| BridgeBio Pharma Inc. | Common Stock | ** | 1,029 | ||||||||||||||||||||||||||||||||
| Bright Horizons Family Solutions | Common Stock | ** | 3,280 | ||||||||||||||||||||||||||||||||
| Bruker Corp. | Common Stock | ** | 3,689 | ||||||||||||||||||||||||||||||||
| Burlington Stores Inc. | Common Stock | ** | 5,319 | ||||||||||||||||||||||||||||||||
| Cabaletta Bio Inc. | Common Stock | ** | 543 | ||||||||||||||||||||||||||||||||
| Cadence Bank | Common Stock | ** | 2,324 | ||||||||||||||||||||||||||||||||
| Cadre Holdings Inc. | Common Stock | ** | 863 | ||||||||||||||||||||||||||||||||
| Caleres Inc. | Common Stock | ** | 1,563 | ||||||||||||||||||||||||||||||||
| California Water Services Group | Common Stock | ** | 2,033 | ||||||||||||||||||||||||||||||||
| Capitol Federal Financial Inc. | Common Stock | ** | 1,072 | ||||||||||||||||||||||||||||||||
| Casella Waste Systems Inc. - Class A | Common Stock | ** | 2,580 | ||||||||||||||||||||||||||||||||
| Catalent Inc. | Common Stock | ** | 1,793 | ||||||||||||||||||||||||||||||||
| Cava Group Inc. | Common Stock | ** | 2,144 | ||||||||||||||||||||||||||||||||
| Cboe Global Markets Inc. | Common Stock | ** | 3,987 | ||||||||||||||||||||||||||||||||
| Certara Inc. | Common Stock | ** | 1,096 | ||||||||||||||||||||||||||||||||
| ChampionX Corp. | Common Stock | ** | 2,374 | ||||||||||||||||||||||||||||||||
| Checkr Inc. | Common Stock | ** | 137 | ||||||||||||||||||||||||||||||||
| Chesapeake Utilities Corp. | Common Stock | ** | 3,905 | ||||||||||||||||||||||||||||||||
| Chuy's Holdings Inc. | Common Stock | ** | 1,523 | ||||||||||||||||||||||||||||||||
| Clear Secure Inc. - Class A | Common Stock | ** | 1,672 | ||||||||||||||||||||||||||||||||
| Coca-Cola Consolidated Inc. | Common Stock | ** | 11 | ||||||||||||||||||||||||||||||||
| Cognex Corp. | Common Stock | ** | 526 | ||||||||||||||||||||||||||||||||
16
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Columbia Banking Systems Inc. | Common Stock | ** | 2,399 | ||||||||||||||||||||||||||||||||
| Community Healthcare Trust Inc. | Common Stock | ** | 46 | ||||||||||||||||||||||||||||||||
| Crane Co. | Common Stock | ** | 1,794 | ||||||||||||||||||||||||||||||||
| CRB Group Inc. | Common Stock | ** | 96 | ||||||||||||||||||||||||||||||||
| Crinetics Pharmaceuticals Inc. | Common Stock | ** | 1,545 | ||||||||||||||||||||||||||||||||
| Crossfirst Bankshares Inc. | Common Stock | ** | 982 | ||||||||||||||||||||||||||||||||
| CSW Industrials Inc. | Common Stock | ** | 3,164 | ||||||||||||||||||||||||||||||||
| CTS Corp. | Common Stock | ** | 1,908 | ||||||||||||||||||||||||||||||||
| Cubesmart | Common Stock | ** | 3,441 | ||||||||||||||||||||||||||||||||
| Cytokinetics Inc. | Common Stock | ** | 3,312 | ||||||||||||||||||||||||||||||||
| Diamondback Energy Inc. | Common Stock | ** | 4,805 | ||||||||||||||||||||||||||||||||
| Digitalbridge Group Inc. | Common Stock | ** | 1,478 | ||||||||||||||||||||||||||||||||
| Dime Community Bancshares Inc. | Common Stock | ** | 1,428 | ||||||||||||||||||||||||||||||||
| Dogwood State Bank, Non-Voting | Common Stock | ** | 233 | ||||||||||||||||||||||||||||||||
| Dogwood State Bank, Voting | Common Stock | ** | 114 | ||||||||||||||||||||||||||||||||
| Doubleverify Holdings Inc. | Common Stock | ** | 4,072 | ||||||||||||||||||||||||||||||||
| DT Midstream Inc. | Common Stock | ** | 1,767 | ||||||||||||||||||||||||||||||||
| Duolingo Inc. | Common Stock | ** | 2,467 | ||||||||||||||||||||||||||||||||
| Dutch Bros Inc. - Class A | Common Stock | ** | 2,023 | ||||||||||||||||||||||||||||||||
| East West Bancorp Inc. | Common Stock | ** | 3,642 | ||||||||||||||||||||||||||||||||
| Eastern Bankshares Inc. | Common Stock | ** | 1,293 | ||||||||||||||||||||||||||||||||
| Eastgroup Properties Inc. | Common Stock | ** | 5,652 | ||||||||||||||||||||||||||||||||
| Elanco Animal Health Inc. | Common Stock | ** | 1,705 | ||||||||||||||||||||||||||||||||
| Element Solutions Inc. | Common Stock | ** | 6,017 | ||||||||||||||||||||||||||||||||
| Encore Capital Group Inc. | Common Stock | ** | 1,417 | ||||||||||||||||||||||||||||||||
| Enerpac Tool Group Corp. | Common Stock | ** | 2,637 | ||||||||||||||||||||||||||||||||
| Enpro Inc. | Common Stock | ** | 1,973 | ||||||||||||||||||||||||||||||||
| Entegris Inc. | Common Stock | ** | 4,539 | ||||||||||||||||||||||||||||||||
| Envestnet Inc. | Common Stock | ** | 1,618 | ||||||||||||||||||||||||||||||||
| Equity Bancshares Inc. - Class A | Common Stock | ** | 1,216 | ||||||||||||||||||||||||||||||||
| Esab Corp. | Common Stock | ** | 1,934 | ||||||||||||||||||||||||||||||||
| Esco Technologies Inc. | Common Stock | ** | 2,271 | ||||||||||||||||||||||||||||||||
| Expro Group Holdings NV | Common Stock | ** | 1,195 | ||||||||||||||||||||||||||||||||
| Eyepoint Pharmaceuticals Inc. | Common Stock | ** | 468 | ||||||||||||||||||||||||||||||||
| FB Financial Corp. | Common Stock | ** | 1,904 | ||||||||||||||||||||||||||||||||
| Federal Signal Corp. | Common Stock | ** | 4,641 | ||||||||||||||||||||||||||||||||
| First American Financial Corp. | Common Stock | ** | 2,704 | ||||||||||||||||||||||||||||||||
| First Bancshares Inc/Ms | Common Stock | ** | 1,481 | ||||||||||||||||||||||||||||||||
| Five Below Inc. | Common Stock | ** | 1,777 | ||||||||||||||||||||||||||||||||
| Five Star Bancorp | Common Stock | ** | 921 | ||||||||||||||||||||||||||||||||
| Five9 Inc. | Common Stock | ** | 2,608 | ||||||||||||||||||||||||||||||||
| Floor & Décor Holdings Inc. - Class A | Common Stock | ** | 784 | ||||||||||||||||||||||||||||||||
| Graco Inc. | Common Stock | ** | 2,530 | ||||||||||||||||||||||||||||||||
| Grasshopper Bancorp, Voting | Common Stock | ** | 65 | ||||||||||||||||||||||||||||||||
| Guardant Health Inc. | Common Stock | ** | 702 | ||||||||||||||||||||||||||||||||
| H.B. Fuller Company | Common Stock | ** | 1,422 | ||||||||||||||||||||||||||||||||
| Haemonetics Corporation | Common Stock | ** | 2,042 | ||||||||||||||||||||||||||||||||
17
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Hanover Insurance Group Inc/The | Common Stock | ** | 2,664 | ||||||||||||||||||||||||||||||||
| HarborOne Bancorp Inc. | Common Stock | ** | 372 | ||||||||||||||||||||||||||||||||
| Haul Hub, Series C Convertible | Common Stock | ** | 36 | ||||||||||||||||||||||||||||||||
| Haynes International Inc. | Common Stock | ** | 2,171 | ||||||||||||||||||||||||||||||||
| Healthcare Realty Trust Inc. | Common Stock | ** | 1,036 | ||||||||||||||||||||||||||||||||
| Helios Technologies Inc. | Common Stock | ** | 1,499 | ||||||||||||||||||||||||||||||||
| Heritage Commerce Corp. | Common Stock | ** | 702 | ||||||||||||||||||||||||||||||||
| Hillevax Inc. | Common Stock | ** | 261 | ||||||||||||||||||||||||||||||||
| Home Bancshares Inc. | Common Stock | ** | 1,507 | ||||||||||||||||||||||||||||||||
| Icosavax Inc. | Common Stock | ** | 687 | ||||||||||||||||||||||||||||||||
| ICU Medical Inc. | Common Stock | ** | 1,240 | ||||||||||||||||||||||||||||||||
| Idacorp Inc. | Common Stock | ** | 2,955 | ||||||||||||||||||||||||||||||||
| Independence Realty Trust Inc. | Common Stock | ** | 1,891 | ||||||||||||||||||||||||||||||||
| Ingersoll Rand Inc. | Common Stock | ** | 6,663 | ||||||||||||||||||||||||||||||||
| Insmed Inc. | Common Stock | ** | 2,766 | ||||||||||||||||||||||||||||||||
| Installed Building Products Inc. | Common Stock | ** | 1,519 | ||||||||||||||||||||||||||||||||
| Intapp Inc. | Common Stock | ** | 1,533 | ||||||||||||||||||||||||||||||||
| Ionis Pharmaceuticals Inc. | Common Stock | ** | 2,143 | ||||||||||||||||||||||||||||||||
| Jack in the Box Inc. | Common Stock | ** | 1,118 | ||||||||||||||||||||||||||||||||
| John Bean Technologies Corp. | Common Stock | ** | 2,320 | ||||||||||||||||||||||||||||||||
| Karuna Therapeutics Inc. | Common Stock | ** | 4,302 | ||||||||||||||||||||||||||||||||
| Kearny Financial Corp/Md | Common Stock | ** | 672 | ||||||||||||||||||||||||||||||||
| Kimbell Royalty Partners, LP | Common Stock | ** | 898 | ||||||||||||||||||||||||||||||||
| Kohls Corp. | Common Stock | ** | 1,049 | ||||||||||||||||||||||||||||||||
| Kymera Therapeutics Inc. | Common Stock | ** | 345 | ||||||||||||||||||||||||||||||||
| Landstar System Inc. | Common Stock | ** | 1,941 | ||||||||||||||||||||||||||||||||
| Lattice Semiconductor Corp. | Common Stock | ** | 3,870 | ||||||||||||||||||||||||||||||||
| LegalZoom.com Inc. | Common Stock | ** | 974 | ||||||||||||||||||||||||||||||||
| Leonardo DRS Inc. | Common Stock | ** | 1,601 | ||||||||||||||||||||||||||||||||
| Liberty Energy Inc. | Common Stock | ** | 2,573 | ||||||||||||||||||||||||||||||||
| Liberty Media Corp., Series C | Common Stock | ** | 2,122 | ||||||||||||||||||||||||||||||||
| Littelfuse Inc. | Common Stock | ** | 2,653 | ||||||||||||||||||||||||||||||||
| Live Oak Bancshares Inc. | Common Stock | ** | 2,756 | ||||||||||||||||||||||||||||||||
| MACOM Technology Solutions Holdings Inc. | Common Stock | ** | 3,288 | ||||||||||||||||||||||||||||||||
| MacroGenics Inc. | Common Stock | ** | 733 | ||||||||||||||||||||||||||||||||
| Magnolia Oil & Gas Corp. - Class A | Common Stock | ** | 2,451 | ||||||||||||||||||||||||||||||||
| Manhattan Associates Inc. | Common Stock | ** | 1,820 | ||||||||||||||||||||||||||||||||
| Masimo Corp. | Common Stock | ** | 3,467 | ||||||||||||||||||||||||||||||||
| Matador Resources Co. | Common Stock | ** | 1,398 | ||||||||||||||||||||||||||||||||
| MGE Energy Inc. | Common Stock | ** | 1,258 | ||||||||||||||||||||||||||||||||
| Mirion Technologies Inc. - Class A | Common Stock | ** | 3,103 | ||||||||||||||||||||||||||||||||
| Model N Inc. | Common Stock | ** | 756 | ||||||||||||||||||||||||||||||||
| Molina Healthcare Inc. | Common Stock | ** | 4,634 | ||||||||||||||||||||||||||||||||
| Monro Inc. | Common Stock | ** | 1,610 | ||||||||||||||||||||||||||||||||
| Mueller Water Products Inc. | Common Stock | ** | 2,182 | ||||||||||||||||||||||||||||||||
| Napco Security Technologies | Common Stock | ** | 1,435 | ||||||||||||||||||||||||||||||||
| Neogen Corp. | Common Stock | ** | 2,399 | ||||||||||||||||||||||||||||||||
18
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Neogenomics Inc. | Common Stock | ** | 2,605 | ||||||||||||||||||||||||||||||||
| NOV Inc. | Common Stock | ** | 1,548 | ||||||||||||||||||||||||||||||||
| NV5 Global Inc. | Common Stock | ** | 633 | ||||||||||||||||||||||||||||||||
| OGE Energy Corp. | Common Stock | ** | 1,756 | ||||||||||||||||||||||||||||||||
| Ollie's Bargain Outlet Holdings Inc. | Common Stock | ** | 2,905 | ||||||||||||||||||||||||||||||||
| One Gas Inc. | Common Stock | ** | 948 | ||||||||||||||||||||||||||||||||
| Onto Innovation Inc. | Common Stock | ** | 4,467 | ||||||||||||||||||||||||||||||||
| Origin Bancorp Inc. | Common Stock | ** | 2,042 | ||||||||||||||||||||||||||||||||
| Outset Medical Inc. | Common Stock | ** | 443 | ||||||||||||||||||||||||||||||||
| P10 Inc. - Class A | Common Stock | ** | 1,447 | ||||||||||||||||||||||||||||||||
| Pacific Biosciences of California Inc. | Common Stock | ** | 1,770 | ||||||||||||||||||||||||||||||||
| Pacific Premier Bancorp Inc. | Common Stock | ** | 1,513 | ||||||||||||||||||||||||||||||||
| Papa John's International Inc. | Common Stock | ** | 4,547 | ||||||||||||||||||||||||||||||||
| PAR Technology Corp/Del | Common Stock | ** | 4,535 | ||||||||||||||||||||||||||||||||
| Parsons Corp. | Common Stock | ** | 3,757 | ||||||||||||||||||||||||||||||||
| Pax Labs - Class A | Common Stock | ** | 67 | ||||||||||||||||||||||||||||||||
| Paycor HCM Inc. | Common Stock | ** | 2,388 | ||||||||||||||||||||||||||||||||
| Pennymac Financial Services | Common Stock | ** | 5,245 | ||||||||||||||||||||||||||||||||
| Penumbra Inc. | Common Stock | ** | 444 | ||||||||||||||||||||||||||||||||
| Pinnacle Financial Partners | Common Stock | ** | 3,046 | ||||||||||||||||||||||||||||||||
| Post Holdings Inc. | Common Stock | ** | 2,457 | ||||||||||||||||||||||||||||||||
| Power Integrations Inc. | Common Stock | ** | 1,152 | ||||||||||||||||||||||||||||||||
| PRA Group Inc. | Common Stock | ** | 996 | ||||||||||||||||||||||||||||||||
| Privia Health Group Inc. | Common Stock | ** | 2,787 | ||||||||||||||||||||||||||||||||
| Procept Biorobotics Corp. | Common Stock | ** | 3,520 | ||||||||||||||||||||||||||||||||
| Prosperity Bancshares Inc. | Common Stock | ** | 437 | ||||||||||||||||||||||||||||||||
| Quaker Chemical Corporation | Common Stock | ** | 2,892 | ||||||||||||||||||||||||||||||||
| Quidelortho Corp. | Common Stock | ** | 2,635 | ||||||||||||||||||||||||||||||||
| Range Resources Corp. | Common Stock | ** | 3,891 | ||||||||||||||||||||||||||||||||
| Rapt Therapeutics Inc. | Common Stock | ** | 672 | ||||||||||||||||||||||||||||||||
| RBC Bearings Inc. | Common Stock | ** | 4,947 | ||||||||||||||||||||||||||||||||
| Red Rock Resorts Inc. - Class A | Common Stock | ** | 1,693 | ||||||||||||||||||||||||||||||||
| Repligen Corp. | Common Stock | ** | 1,475 | ||||||||||||||||||||||||||||||||
| Rexford Industrial Realty Inc. | Common Stock | ** | 3,121 | ||||||||||||||||||||||||||||||||
| RH | Common Stock | ** | 1,008 | ||||||||||||||||||||||||||||||||
| Rivian Automotive Inc. | Common Stock | ** | 1,811 | ||||||||||||||||||||||||||||||||
| RLI Corp. | Common Stock | ** | 545 | ||||||||||||||||||||||||||||||||
| Royal Gold Inc. | Common Stock | ** | 1,305 | ||||||||||||||||||||||||||||||||
| Rush Enterprises Inc. - Class A | Common Stock | ** | 2,189 | ||||||||||||||||||||||||||||||||
| Rxsight Inc. | Common Stock | ** | 756 | ||||||||||||||||||||||||||||||||
| Saia Inc. | Common Stock | ** | 4,921 | ||||||||||||||||||||||||||||||||
| Savers Value Village Inc. | Common Stock | ** | 571 | ||||||||||||||||||||||||||||||||
| Selective Insurance Group Inc. | Common Stock | ** | 5,218 | ||||||||||||||||||||||||||||||||
| Service Titan Inc. | Common Stock | ** | 80 | ||||||||||||||||||||||||||||||||
| Simply Good Foods Co/The | Common Stock | ** | 1,239 | ||||||||||||||||||||||||||||||||
| Siteone Landscape Supply Inc. | Common Stock | ** | 3,981 | ||||||||||||||||||||||||||||||||
| Skechers U.S.A. Inc. - Class A | Common Stock | ** | 1,745 | ||||||||||||||||||||||||||||||||
19
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Skyline Champion Corp. | Common Stock | ** | 2,801 | ||||||||||||||||||||||||||||||||
| SM Energy Co. | Common Stock | ** | 1,018 | ||||||||||||||||||||||||||||||||
| Sotera Health Co. | Common Stock | ** | 1,342 | ||||||||||||||||||||||||||||||||
| SouthState Corp. | Common Stock | ** | 3,152 | ||||||||||||||||||||||||||||||||
| Southwest Gas Holdings Inc. | Common Stock | ** | 2,306 | ||||||||||||||||||||||||||||||||
| Southwestern Energy Co. | Common Stock | ** | 3,142 | ||||||||||||||||||||||||||||||||
| SPX Technologies Inc. | Common Stock | ** | 4,082 | ||||||||||||||||||||||||||||||||
| Stepstone Group Inc. - Class A | Common Stock | ** | 1,644 | ||||||||||||||||||||||||||||||||
| Stericycle Inc. | Common Stock | ** | 1,982 | ||||||||||||||||||||||||||||||||
| Strategic Education Inc. | Common Stock | ** | 2,790 | ||||||||||||||||||||||||||||||||
| Structure Therapeutics Inc. - ADR | Common Stock | ** | 999 | ||||||||||||||||||||||||||||||||
| Syndax Pharmaceuticals Inc. | Common Stock | ** | 593 | ||||||||||||||||||||||||||||||||
| Teledyne Technologies Inc. | Common Stock | ** | 4,410 | ||||||||||||||||||||||||||||||||
| Terreno Realty Corp. | Common Stock | ** | 1,469 | ||||||||||||||||||||||||||||||||
| Tetra Tech Inc. | Common Stock | ** | 1,784 | ||||||||||||||||||||||||||||||||
| Texas Capital Bancshares Inc. | Common Stock | ** | 1,598 | ||||||||||||||||||||||||||||||||
| Themis Sol (Clio), Series E Convertible | Common Stock | ** | 356 | ||||||||||||||||||||||||||||||||
| Themis Solutions Inc. | Common Stock | ** | 125 | ||||||||||||||||||||||||||||||||
| Thermon Group Holdings Inc. | Common Stock | ** | 887 | ||||||||||||||||||||||||||||||||
| Toast Inc. - Class A | Common Stock | ** | 1,429 | ||||||||||||||||||||||||||||||||
| Toro Co. | Common Stock | ** | 1,790 | ||||||||||||||||||||||||||||||||
| Transcat Inc. | Common Stock | ** | 440 | ||||||||||||||||||||||||||||||||
| Treehouse Foods Inc. | Common Stock | ** | 786 | ||||||||||||||||||||||||||||||||
| U.S. Physical Therapy Inc. | Common Stock | ** | 1,619 | ||||||||||||||||||||||||||||||||
| UTZ Brands Inc. - Class A | Common Stock | ** | 1,549 | ||||||||||||||||||||||||||||||||
| Vaxcyte Inc. | Common Stock | ** | 1,721 | ||||||||||||||||||||||||||||||||
| Veritex Holdings Inc. | Common Stock | ** | 1,297 | ||||||||||||||||||||||||||||||||
| Verve Therapeutics Inc. | Common Stock | ** | 603 | ||||||||||||||||||||||||||||||||
| Vimeo Inc. | Common Stock | ** | 1,075 | ||||||||||||||||||||||||||||||||
| Vontier Corp. | Common Stock | ** | 2,162 | ||||||||||||||||||||||||||||||||
| VSE Corp. | Common Stock | ** | 1,751 | ||||||||||||||||||||||||||||||||
| Warby Parker Inc. - Class A | Common Stock | ** | 1,819 | ||||||||||||||||||||||||||||||||
| Western Alliance Bancorporation | Common Stock | ** | 2,158 | ||||||||||||||||||||||||||||||||
| White Mountains Insurance Group Ltd. | Common Stock | ** | 1,775 | ||||||||||||||||||||||||||||||||
| Willscot Mobile Mini Holdings Corp. | Common Stock | ** | 1,845 | ||||||||||||||||||||||||||||||||
| Workiva Inc. - Class A | Common Stock | ** | 3,341 | ||||||||||||||||||||||||||||||||
| Wyndham Hotels & Resorts Inc. | Common Stock | ** | 2,020 | ||||||||||||||||||||||||||||||||
| Zentalis Pharmaceuticals Inc. | Common Stock | ** | 432 | ||||||||||||||||||||||||||||||||
| Zurn Elkay Water Solutions Corp. | Common Stock | ** | 2,101 | ||||||||||||||||||||||||||||||||
| Argenx SE - ADR | Foreign Stock | ** | 2,616 | ||||||||||||||||||||||||||||||||
| Ascendis Pharma A/S - ADR | Foreign Stock | ** | 3,476 | ||||||||||||||||||||||||||||||||
| ATS Corp. | Foreign Stock | ** | 523 | ||||||||||||||||||||||||||||||||
| Axis Capital Holdings Inc. | Foreign Stock | ** | 3,590 | ||||||||||||||||||||||||||||||||
| Bombardier Inc. | Foreign Stock | ** | 782 | ||||||||||||||||||||||||||||||||
| Clarivate PLC | Foreign Stock | ** | 1,683 | ||||||||||||||||||||||||||||||||
| Colliers International Group Inc. | Foreign Stock | ** | 1,987 | ||||||||||||||||||||||||||||||||
| Constellium SE | Foreign Stock | ** | 3,707 | ||||||||||||||||||||||||||||||||
20
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| Crispr Therapeutics AG | Foreign Stock | ** | 971 | ||||||||||||||||||||||||||||||||
| Descartes Systems Group/The | Foreign Stock | ** | 3,943 | ||||||||||||||||||||||||||||||||
| Ero Copper Corp. | Foreign Stock | ** | 1,269 | ||||||||||||||||||||||||||||||||
| Firstservice Corp. | Foreign Stock | ** | 5,257 | ||||||||||||||||||||||||||||||||
| Flagship Communities REIT UT | Foreign Stock | ** | 541 | ||||||||||||||||||||||||||||||||
| Immatics NV | Foreign Stock | ** | 431 | ||||||||||||||||||||||||||||||||
| Immunocore Holdings PLC - ADR | Foreign Stock | ** | 649 | ||||||||||||||||||||||||||||||||
| MoonLake Immunotherapeutics | Foreign Stock | ** | 1,307 | ||||||||||||||||||||||||||||||||
| MorphoSys AG - ADR | Foreign Stock | ** | 1,001 | ||||||||||||||||||||||||||||||||
| Novanta Inc. | Foreign Stock | ** | 2,249 | ||||||||||||||||||||||||||||||||
| Popular Inc. | Foreign Stock | ** | 1,591 | ||||||||||||||||||||||||||||||||
| Rentokil Initial PLC | Foreign Stock | ** | 2,093 | ||||||||||||||||||||||||||||||||
| Spirax Sarco Engineering - ADR | Foreign Stock | ** | 1,440 | ||||||||||||||||||||||||||||||||
| TechnipFMC PLC | Foreign Stock | ** | 2,117 | ||||||||||||||||||||||||||||||||
| TMX Group Ltd. | Foreign Stock | ** | 1,899 | ||||||||||||||||||||||||||||||||
| Tricon Residential Inc. | Foreign Stock | ** | 1,885 | ||||||||||||||||||||||||||||||||
| Weatherford International PLC | Foreign Stock | ** | 2,415 | ||||||||||||||||||||||||||||||||
| West Fraser Timber Co. Ltd. | Foreign Stock | ** | 1,127 | ||||||||||||||||||||||||||||||||
| Xenon Pharmaceuticals Inc. | Foreign Stock | ** | 666 | ||||||||||||||||||||||||||||||||
| 1661 Inc. D/B/A/ Goat, Series F Convertible | Preferred Stock | ** | 107 | ||||||||||||||||||||||||||||||||
| ABL Space Systems, Series B | Preferred Stock | ** | 236 | ||||||||||||||||||||||||||||||||
| Caris Life Sciences, Series C Convertible | Preferred Stock | ** | 283 | ||||||||||||||||||||||||||||||||
| Caris Life Sciences, Series D Convertible | Preferred Stock | ** | 5,428 | ||||||||||||||||||||||||||||||||
| Caris Life Sciences, Series D Convertible | Preferred Stock | ** | 190 | ||||||||||||||||||||||||||||||||
| Cellink Inc., Series D Convertible | Preferred Stock | ** | 41 | ||||||||||||||||||||||||||||||||
| Checker Inc., Series C Convertible | Preferred Stock | ** | 187 | ||||||||||||||||||||||||||||||||
| Checker Inc., Series D Convertible | Preferred Stock | ** | 292 | ||||||||||||||||||||||||||||||||
| Cleerly, Series C Convertible | Preferred Stock | ** | 193 | ||||||||||||||||||||||||||||||||
| CRB Group, Series D Convertible | Preferred Stock | ** | 337 | ||||||||||||||||||||||||||||||||
| Dogwood State Bank | Preferred Stock | ** | 16 | ||||||||||||||||||||||||||||||||
| Epirus Inc., Series C-2 Convertible | Preferred Stock | ** | 534 | ||||||||||||||||||||||||||||||||
| Farmers Business Network Inc. | Preferred Stock | ** | 157 | ||||||||||||||||||||||||||||||||
| Flexe, Series C Convertible | Preferred Stock | ** | 155 | ||||||||||||||||||||||||||||||||
| Flexe, Series D Convertible | Preferred Stock | ** | 61 | ||||||||||||||||||||||||||||||||
| Haul Hub, Series B Convertible | Preferred Stock | ** | 102 | ||||||||||||||||||||||||||||||||
| Honor Technology Inc. - Series D | Preferred Stock | ** | 205 | ||||||||||||||||||||||||||||||||
| Inscripta Inc. - Series E | Preferred Stock | ** | 99 | ||||||||||||||||||||||||||||||||
| Kardium Inc., Series D-6 Convertible | Preferred Stock | ** | 218 | ||||||||||||||||||||||||||||||||
| KoBold Metals Co., Series B-1 | Preferred Stock | ** | 489 | ||||||||||||||||||||||||||||||||
| Leap Therapeutics Inc. | Preferred Stock | ** | 3 | ||||||||||||||||||||||||||||||||
| National Resilence, Series B Convertible | Preferred Stock | ** | 1,454 | ||||||||||||||||||||||||||||||||
| National Resilence, Series C Convertible | Preferred Stock | ** | 839 | ||||||||||||||||||||||||||||||||
| Nuro Inc., Series C | Preferred Stock | ** | 175 | ||||||||||||||||||||||||||||||||
| Nuro Inc., Series D | Preferred Stock | ** | 56 | ||||||||||||||||||||||||||||||||
| Redwood Materials Inc., Series C | Preferred Stock | ** | 375 | ||||||||||||||||||||||||||||||||
| SecurityScorecard Inc., Series E Convertible | Preferred Stock | ** | 276 | ||||||||||||||||||||||||||||||||
| Seismic Software Inc. | Preferred Stock | ** | 446 | ||||||||||||||||||||||||||||||||
21
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| ServiceTitan Inc., Series A-1 Convertible | Preferred Stock | ** | 1 | ||||||||||||||||||||||||||||||||
| ServiceTitan Inc., Series D Convertible | Preferred Stock | ** | 583 | ||||||||||||||||||||||||||||||||
| ServiceTitan Inc., Series F Convertible | Preferred Stock | ** | 35 | ||||||||||||||||||||||||||||||||
| Sila Nanotechnologies Inc., Series F | Preferred Stock | ** | 230 | ||||||||||||||||||||||||||||||||
| Socure Inc. | Preferred Stock | ** | 41 | ||||||||||||||||||||||||||||||||
| Socure Inc., Series A Convertible | Preferred Stock | ** | 50 | ||||||||||||||||||||||||||||||||
| Socure Inc., Series A-1 Convertible | Preferred Stock | ** | 41 | ||||||||||||||||||||||||||||||||
| Socure Inc., Series B Convertible | Preferred Stock | ** | 1 | ||||||||||||||||||||||||||||||||
| Socure Inc., Series E Convertible | Preferred Stock | ** | 95 | ||||||||||||||||||||||||||||||||
| Themis Sol (Clio), Series AA Convertible | Preferred Stock | ** | 28 | ||||||||||||||||||||||||||||||||
| Themis Sol (Clio), Series AB Convertible | Preferred Stock | ** | 3 | ||||||||||||||||||||||||||||||||
| Themis Sol (Clio), Series B Convertible | Preferred Stock | ** | 3 | ||||||||||||||||||||||||||||||||
| Cash | Cash | ** | 281 | ||||||||||||||||||||||||||||||||
| *Northern Institutional Treasury Portfolio Premier Shares | Money Market Securities | ** | 722 | ||||||||||||||||||||||||||||||||
| *T.Rowe Price Treasury Reserve Fund | Money Market Securities | ** | 4,517 | ||||||||||||||||||||||||||||||||
| Grasshopper Bancorp Inc. | Warrants | ** | 1 | ||||||||||||||||||||||||||||||||
| Scholar Rock | Warrants | ** | 59 | ||||||||||||||||||||||||||||||||
| International Equity Portfolio: | |||||||||||||||||||||||||||||||||||
| Capital Group International All Country Equity Trust | Common Trust | ** | 188,650 | ||||||||||||||||||||||||||||||||
| *Northern Institutional Treasury Portfolio Premier Shares | Money Market Securities | ** | 80 | ||||||||||||||||||||||||||||||||
| Total separately managed accounts | 2,491,563 | ||||||||||||||||||||||||||||||||||
| Fully Benefit-Responsive Contracts: | |||||||||||||||||||||||||||||||||||
| Capital Preservation Portfolio: | |||||||||||||||||||||||||||||||||||
| * T. Rowe Price Cash Reserve Trust | Common Trust | ** | 21,002 | ||||||||||||||||||||||||||||||||
| * Northern Institutional Treasury Portfolio Premier Shares | Common Trust | ** | 31,468 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price Short Term Common Trust: | |||||||||||||||||||||||||||||||||||
| American General Life Insurance Company | Collective Trust Fund | ** | 62,038 | ||||||||||||||||||||||||||||||||
| Lincoln National Life Insurance | Collective Trust Fund | ** | 70,526 | ||||||||||||||||||||||||||||||||
| Massachusetts Mutual Life Insurance Company | Collective Trust Fund | ** | 75,950 | ||||||||||||||||||||||||||||||||
| Met Tower Life Insurance | Collective Trust Fund | ** | 69,220 | ||||||||||||||||||||||||||||||||
| Monumental Life(Transamerica) | Collective Trust Fund | ** | 63,653 | ||||||||||||||||||||||||||||||||
| New York Life | Collective Trust Fund | ** | 75,947 | ||||||||||||||||||||||||||||||||
| Pacific Life Insurance Company | Collective Trust Fund | ** | 75,191 | ||||||||||||||||||||||||||||||||
| Prudential Insurance Company of America | Collective Trust Fund | ** | 75,195 | ||||||||||||||||||||||||||||||||
| Royal Bank of Canada | Collective Trust Fund | ** | 62,922 | ||||||||||||||||||||||||||||||||
| State Street Bank & Trust Company | Collective Trust Fund | ** | 64,403 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price Intermediate Term Common Trust: | |||||||||||||||||||||||||||||||||||
| American General Life Insurance Company | Collective Trust Fund | ** | 56,445 | ||||||||||||||||||||||||||||||||
| Lincoln National Life Insurance | Collective Trust Fund | ** | 64,169 | ||||||||||||||||||||||||||||||||
| Massachusetts Mutual Life Insurance Company | Collective Trust Fund | ** | 94,640 | ||||||||||||||||||||||||||||||||
| Met Tower Life Insurance | Collective Trust Fund | ** | 119,313 | ||||||||||||||||||||||||||||||||
| Monumental Life(Transamerica) | Collective Trust Fund | ** | 57,915 | ||||||||||||||||||||||||||||||||
22
COSTCO 401(k) RETIREMENT PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (Continued)
December 31, 2023
(in thousands)
| (a) (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment | (d) Cost | (e) Current value | ||||||||||||||||||||||||||||||||
| New York Life | Collective Trust Fund | ** | 94,637 | ||||||||||||||||||||||||||||||||
| Pacific Life Insurance Company | Collective Trust Fund | ** | 93,694 | ||||||||||||||||||||||||||||||||
| Prudential Insurance Company of America | Collective Trust Fund | ** | 93,699 | ||||||||||||||||||||||||||||||||
| Royal Bank of Canada | Collective Trust Fund | ** | 57,250 | ||||||||||||||||||||||||||||||||
| State Street Bank & Trust Company | Collective Trust Fund | ** | 111,011 | ||||||||||||||||||||||||||||||||
| * T. Rowe Price Managed Bond Trust: | |||||||||||||||||||||||||||||||||||
| American General Life Insurance Company | Collective Trust Fund | ** | 14,674 | ||||||||||||||||||||||||||||||||
| Lincoln National Life Insurance | Collective Trust Fund | ** | 16,682 | ||||||||||||||||||||||||||||||||
| Massachusetts Mutual Life Insurance Company | Collective Trust Fund | ** | 21,106 | ||||||||||||||||||||||||||||||||
| Met Tower Life Insurance | Collective Trust Fund | ** | 23,278 | ||||||||||||||||||||||||||||||||
| Monumental Life(Transamerica) | Collective Trust Fund | ** | 15,056 | ||||||||||||||||||||||||||||||||
| New York Life | Collective Trust Fund | ** | 21,105 | ||||||||||||||||||||||||||||||||
| Pacific Life Insurance Company | Collective Trust Fund | ** | 20,895 | ||||||||||||||||||||||||||||||||
| Prudential Insurance Company of America | Collective Trust Fund | ** | 20,896 | ||||||||||||||||||||||||||||||||
| Royal Bank of Canada | Collective Trust Fund | ** | 14,883 | ||||||||||||||||||||||||||||||||
| State Street Bank & Trust Company | Collective Trust Fund | ** | 21,658 | ||||||||||||||||||||||||||||||||
| Total fully benefit-responsive contracts | 1,780,521 | ||||||||||||||||||||||||||||||||||
| * Costco Wholesale Corporation | Common stock | ** | 15,977,459 | ||||||||||||||||||||||||||||||||
| Total investments | 32,216,256 | ||||||||||||||||||||||||||||||||||
| * Participant loans | Interest rates of 4.25% to 10.50% maturing through 2038 | __ | 559,994 | ||||||||||||||||||||||||||||||||
| Total | $ | 32,776,250 | |||||||||||||||||||||||||||||||||
| _________________________ | |||||||||||||||||||||||||||||||||||
| * Indicates a party-in-interest | |||||||||||||||||||||||||||||||||||
| ** Information is not required as investments are participant directed | |||||||||||||||||||||||||||||||||||
See accompanying report of independent registered public accounting firm.
23
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
COSTCO 401(k) RETIREMENT PLAN | |||||||||||
| June 20, 2024 | By: | /s/ PATRICK J. CALLANS | |||||||||
| Date | Patrick J. Callans Executive Vice President Costco Wholesale Corporation | ||||||||||
24