11-K 1 wfc2020form11k-dolversion.htm FORM 11-K Document


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________

FORM 11-K

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

[X]        Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the Fiscal Year Ended December 31, 2020

OR

[ ]        Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the transition period from ___________ to ____________.

Commission file number 001-02979
_______________________________________

A.Full title of the plan and the address of the plan, if different from that of the issuer named below:
Wells Fargo & Company 401(k) Plan
c/o Wells Fargo & Company
550 S. 4th Street
Minneapolis, MN 55415


B.Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Wells Fargo & Company
420 Montgomery Street
San Francisco, CA 94104

(a)The following financial statements and reports, which have been prepared pursuant to the requirements of the Employee Retirement Income Security Act of 1974, are filed as part of this Annual Report on Form 11-K:

Report of Independent Registered Public Accounting Firm

Financial Statements:
Statements of Net Assets Available for Benefits as of December 31, 2020 and 2019
Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2020
Notes to Financial Statements

Supplemental Schedule:

Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2020

(b)The following Exhibit is filed as part of this Annual Report on Form 11-K:

(23) Consent of Independent Registered Public Accounting Firm.









WELLS FARGO & COMPANY 401(k) PLAN
Financial Statements and Supplemental Schedule
December 31, 2020
(With Report of Independent Registered Public Accounting Firm Thereon)





Report of Independent Registered Public Accounting Firm
To the Plan Participants and Plan Administrator
Wells Fargo & Company 401(k) Plan:
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of Wells Fargo & Company 401(k) Plan (the Plan) as of December 31, 2020 and 2019, the related statement of changes in net assets available for benefits for the year ended December 31, 2020, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020 and 2019, and the changes in net assets available for benefits for the year ended December 31, 2020, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.




Accompanying Supplemental Information
The supplemental information in the accompanying Schedule H, line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2020 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ KPMG LLP        

We have not been able to determine the specific year that we began serving as the Plan’s auditor, however we are aware that we have served as the Plan’s auditor since at least 1989.

Cleveland, Ohio
June 24, 2021



WELLS FARGO & COMPANY 401(k) PLAN
Statements of Net Assets Available for Benefits
December 31, 2020 and 2019
            20202019
Assets:    
  Investments at fair value:    
Allocated$41,997,295,666 41,436,846,512 
Unallocated1,054,953,698 1,317,599,124 
Investments at fair value43,052,249,364 42,754,445,636 
Investments at contract value4,655,744,112 4,262,646,711 
Total investments47,707,993,476 47,017,092,347 
  Notes receivable from participants834,307,016 934,038,551 
  Employer match contribution receivable240,175,579 224,571,691 
  Accrued income70,604 1,163,585 
        Total assets48,782,546,675 48,176,866,174 
Liabilities:  
  ESOP notes payable – unallocated(874,843,759)(1,142,883,975)
  Excess contributions and earnings payable(12,027)(34,080)
        Total liabilities(874,855,786)(1,142,918,055)
        Net assets available for benefits$47,907,690,889 47,033,948,119 
See accompanying notes to financial statements.    
3


WELLS FARGO & COMPANY 401(k) PLAN
Statement of Changes in Net Assets Available for Benefits
Year ended December 31, 2020
2020
Additions (deductions) to net assets attributed to:
Investment income:
Net appreciation in fair value of investments$1,152,151,066 
Dividends531,738,206 
Interest114,029,869 
Total investment income1,797,919,141 
Contributions:
Employer1,014,029,245 
Participants1,802,114,915 
Rollovers125,837,262 
Total contributions2,941,981,422 
Interest income from notes receivable from participants53,868,639 
Other income40,035,749 
Total additions to plan assets4,833,804,951 
Benefits paid to participants(3,941,691,294)
ESOP interest expense(18,370,887)
Total deductions to plan assets(3,960,062,181)
Net increase873,742,770 
Net assets available for benefits:
Beginning of year47,033,948,119 
End of year$47,907,690,889 
See accompanying notes to financial statements.


4


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020

(1)        Description of Plan
The following description of the Wells Fargo & Company 401(k) Plan (the “Plan”) provides only general information. Participants should refer to the Plan document, as amended, for a more complete description of the Plan’s provisions.
(a)       General 
The Plan is a defined contribution plan with a 401(k) feature sponsored by Wells Fargo & Company (the “Company”, "Wells Fargo" or “Plan Sponsor”). A portion of the Plan invested in Company stock is an Employee Stock Ownership Plan (ESOP). All subsidiaries of the Company with U.S.-based employees are participating employers in the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended, and the Internal Revenue Code (IRC), as amended. Employees, who satisfy the Plan’s eligibility requirements, become eligible to make salary deferral contributions on the first day of the month following one calendar month of service and are eligible to receive employer matching contributions on the first day of the quarter following the completion of one year of vesting service, subject to other eligibility requirements. Employees are also eligible to receive employer discretionary profit sharing contributions, if awarded by the Human Resources Committee of the board of directors of the Company, after completion of one year of vesting service and satisfaction of other eligibility requirements.
The Plan is administered by the Plan Administrator and its delegates. The Plan document requires that Company common stock be offered as an available investment option to participants through the Wells Fargo ESOP Fund. The Employee Benefit Review Committee (the “Committee”) has discretion under the Plan to select additional investment alternatives to be offered to participants. Under the terms of a trust agreement between the Company, Wells Fargo Bank, N.A. (the “Trustee”), which is a wholly owned subsidiary of the Company, and the Plan, the Trustee manages the Plan’s assets in one or more funds (“Trust”) on behalf of the Plan, except to the extent the Trustee is directed by the Committee. GreatBanc Trust Company has been appointed the Independent Fiduciary (the “Independent Fiduciary”) to act as a named fiduciary for limited purposes in connection with the ESOP provisions of the Plan.
Effective January 1, 2020, the Plan was amended and restated to (i) incorporate a previous separate plan amendment related to the divesture of Eastdil Secured, L.L.C.; (ii) change how catch-up contributions are deducted; (iii) revise certain references to money sources; (iv) add reference to expenses and losses (including loss of income) incurred by the Participant on account of a disaster declared by the Federal Emergency Management Agency (FEMA) under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, Public Law 100-707, as it relates to disaster hardship withdrawals; (v) change the Plan Administrator definition by the removal of the Head of Enterprise Company Solutions; (vi) change the definition of Company Representative by the removal of Head of Enterprise Company Solutions; (vii) update procedures Regarding Domestic Relations Orders; and (viii) make certain changes to hardship withdrawal requests.
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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
(b)        Contributions and Vesting
Each year, eligible participants may make salary deferral contributions, subject to certain limitations, from 1% to 50% of their certified compensation, as defined in the Plan. These contributions are matched by the Company in an amount equal to 100% of up to 6% of participants’ annual, eligible certified compensation. Participants age 50 or older can make catch‑up salary deferral contributions each year in accordance with limits set by the IRS. Catch‑up contributions are generally not eligible for employer matching contributions. Participants are fully vested in their salary deferral contributions. The employer matching contributions are automatically invested in the Wells Fargo ESOP Fund, which is primarily invested in the Company’s common stock, and participants can reallocate their Plan account balance, including employer matching contributions, at any time. All actively employed participants in the Plan are fully vested in their employer matching contributions.
The Company may make a discretionary profit sharing contribution to the Plan, which is allocated to eligible participants’ Plan accounts. If such a contribution is to be made for a particular year, the Company will determine the percentage of certified compensation for the year to be contributed for each eligible participant (not to exceed 4% of annual, eligible certified compensation). The profit sharing contributions are automatically invested in the Wells Fargo ESOP Fund, which is primarily invested in the Company’s common stock, and become 100% vested after three years of service. Participants can transfer out of the Wells Fargo ESOP Fund into any other available investment funds under the Plan at any time. For the year ended December 31, 2020, the Company did not make a discretionary profit sharing contribution.
Plan participants may also elect to roll over distributions from a former employer’s qualified retirement plan or a qualified Individual Retirement Account to the Plan.
(c)        Participant Accounts
Each participant’s Plan account is credited with the participant’s salary deferral contributions, any rollover contributions, the Company’s matching contributions, and any discretionary profit sharing contributions, which are subject to investment gains and losses. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested Plan account.
(d)        ESOP Plan Notes
As an ESOP, the Plan may borrow money from the Company or directly from outside lenders for the purpose of purchasing the Company’s common or preferred stock. The Plan may also purchase the Company’s common stock from entities other than the Company or the Company may contribute Company common stock. There was no new ESOP loan issued in 2020 or 2019, as the Plan did not borrow money to buy Company common or preferred stock.

    6    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
(e)        Payment of Benefits and Forfeitures
Upon termination of employment, a participant may elect to receive his or her vested Plan account balance as a lump sum or as a partial lump sum distribution. The option of installment payments was only available to participants who commenced installment payments prior to January 1, 2010. Certain participants with grandfathered benefits from plans merged into the Plan may also take their benefit as an annuity. Distributions from all funds are made in cash; however, a participant invested in the Company’s common stock may elect to receive shares of the Company’s common stock in-kind with the value of fractional shares paid in cash. If the participant’s balance is less than $1,000, a distribution is made as a lump sum upon termination, unless the participant elects to roll over their account balance or takes the portion of their account invested in the Company’s common stock in-kind.
While employed, a participant may make withdrawals from his or her Plan account (as allowed under IRS regulations), subject to certain restrictions, as described in the Plan. Certain restrictions associated with withdrawals may be waived in the event a participant demonstrates financial hardship. A participant invested in the Company’s common stock may request that the portion of their withdrawal invested in the Company’s common stock be disbursed in-kind with the value of fractional shares paid in cash. Pursuant to the Coronavirus Aid, Relief and Economic Security (CARES) Act, from June 15, 2020 to December 31, 2020, a qualifying participant was permitted to request pandemic-related distributions from the participant’s vested Plan account with such distributions permitted to be re-contributed to the Plan in accordance with applicable CARES Act guidance.
When a participant terminates employment, he or she is entitled to distribution of his or her total vested account balance. The nonvested portion is forfeited and serves to reduce future employer contributions. Forfeitures used to offset employer contributions were approximately $2,980,000 for the year ended December 31, 2020. The unallocated forfeiture account balance was $0 for both years ended December 31, 2020 and 2019.
(f)         Notes Receivable from Participants
Two types of loans are available to participants under the Plan: general purpose and principal residence. General-purpose loans may be obtained for periods of up to five years. Principal residence loans are available only to finance the purchase or construction of the participant’s principal residence and may not exceed 20 years. Participants may have two loans outstanding at any time, one of which may be a principal residence loan. The maximum amount of any loan, when added to the balance outstanding on all other loans to the participant, may not exceed the lesser of (1) $50,000 reduced by the excess (if any) of (A) the highest outstanding balance of loans from the Plan to the Participant during the one-year period ending on the day before the date on which the loan is made, over (B) the outstanding balance of loans from the Plan to the Participant on the date on which the loan is made, or (2) one-half of the value of the Participant’s vested Account balance on the date on which the loan is made. The minimum principal amount for any loan is $500. The loan interest rate is 2% above the prime rate charged by Wells Fargo Bank, N.A., the Trustee. Pursuant to the CARES
    7    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
Act, from June 15, 2020 to September 22, 2020, a qualifying participant was permitted to request pandemic-related loans up to $100,000 in accordance with applicable CARES Act guidance.
Repayments on loans are generally made through biweekly payroll deductions and are immediately allocated to the participant's account and invested according to the participant’s investment elections. Loans may be repaid in full at any time. As of December 31, 2020, interest rates ranged from 3.25% to 11.50% and loans mature through November 30, 2040. Pursuant to the CARES Act, from June 15, 2020 to December 31, 2020, qualifying participants were permitted to temporarily suspend repayments on Plan loans.
(g)        ESOP 
The Plan has purchased Company preferred stock using the proceeds of the ESOP loans. As the Plan makes payments of principal on the loans, an appropriate percentage of preferred shares are released and converted to common stock. Common stock equal in value to the employer’s matching contribution is allocated to the participants’ accounts and invested in the Wells Fargo ESOP Fund.
Participants in the Plan may elect to have cash dividends from Company common stock that is held in their account in the Wells Fargo ESOP Fund to be either reinvested in the Wells Fargo ESOP Fund or distributed to them in cash. The Plan uses the cash dividends received to purchase the shares needed to meet the employee reinvestment needs from the Company.
(h)        Investment Options
Participants may direct the investment of their salary deferral contributions to the Plan in one or more investment funds. If a participant does not choose an investment fund, the contributions are invested in the age appropriate Wells Fargo/State Street Target Date CIT, an age-based series of target retirement date funds that serves as the Plan's qualified default investment alternative. Participants may change their deferral percentage or investment direction at any time.

(2)         Summary of Significant Accounting Policies
(a)        Basis of Presentation
The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles.
(b)         Administrative Expenses
All costs and expenses of administering the Plan and Trust are paid by the Company, except for certain investment management fees, which are netted against investment returns.

    8    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
(c)        Fair Value Definition and Hierarchy
Investments are reported 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. Fair value is based on an exit price notion that maximizes the use of observable inputs and minimizes the use of unobservable inputs.
The Plan classifies its assets and liabilities measured at fair value based upon a three-level hierarchy that assigns the highest priority to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs. The three levels are as follows:
Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets.
Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model‑based valuation techniques, for which all significant assumptions are observable in the market.
Level 3 – Valuation is generated from model‑based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of discounted cash flow models, market comparable pricing, option models and similar techniques.
(d)        Investments and Income Recognition
Purchases and sales of securities are recorded on the trade-date basis. Interest income is recorded on the accrual basis. Dividends are allocated based upon participant account holdings on the record date and are recorded in the Trust on the dividend payment date. Net appreciation or (depreciation) includes gains and or losses on investments bought and sold as well as held during the year.
(e)         Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan and Plan loan rules, as determined by the Plan Administrator.
(f)       Investments Valued at Contract Value
(i) Description
The Wells Fargo Stable Value Fund (the “Stable Value Fund”) primarily invests in security-backed contracts issued by insurance companies and other financial institutions. The security-backed contracts held in the Stable Value Fund guarantee a
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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
fixed return to its investors, resulting in it being considered a fully benefit responsive contract. The Stable Value Fund also invests in the Wells Fargo/BlackRock Short Term Investment Fund S, which invests in highly liquid assets. The Stable Value Fund uses this investment for daily liquidity needs.
A security-backed contract is an investment contract (also known as a synthetic guaranteed investment contract (GIC) or a separate account GIC) issued by an insurance company or other financial institution, backed by a portfolio of bonds. The bond portfolio is either owned directly by the Stable Value Fund or owned by the contract issuer and segregated in a separate account for the benefit of the Stable Value Fund. The portfolio underlying the contract is maintained separately from the contract issuer’s general assets, usually by a third-party custodian. The issuer guarantees that all qualified participant withdrawals will be at contract value. In the case of a full liquidation event, the issuer is responsible for covering any amount by which the contract value exceeds the fair value of the underlying portfolio.
Risks arise when entering into any investment contract due to the potential inability of the issuer to meet the terms of the contract. In addition, security-backed contracts have the risk of default or the lack of liquidity of the underlying portfolio assets. The credit risk of each issuer is evaluated and monitored through the Plan’s investment advisor credit analysis. The credit analysis includes, but is not limited to, asset quality and liquidity, management quality, surplus adequacy, and profitability.
(ii)     Valuation of Underlying Investments
Security-backed contracts are carried at contract value. Contract value is the relevant measure for fully benefit-responsive investment contracts because this is the amount received by participants when they initiate permitted transactions under the terms of the Plan. The contract rate resets periodically, normally each quarter or semi-annually, using end-of-period data. The underlying portfolio assets, the adjustments to contract value, and the accrued interest receivable are shown by contract on the supplemental schedule of assets (held at end of year) attached to the Form 5500 filed by the Plan with the Department of Labor (DOL). The short‑term investment fund investment is carried at the reported unit value of the fund. The underlying assets may contain issues that are considered illiquid.
(iii)  Withdrawal and Termination Provisions
All security-backed contracts held by the Stable Value Fund are fully benefit responsive, which means withdrawals from these investment contracts may be made at contract value for qualifying benefit payments, including participant‑directed transfers.
Security-backed contracts generally are evergreen contracts that contain termination provisions, allowing the Stable Value Fund or the contract issuer to terminate with notice, at any time at fair value, and providing for automatic termination of the contract
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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
if the contract value or the fair value of the underlying portfolio equals zero. The issuer is obligated to pay the excess contract value when the fair value of the underlying portfolio equals zero. Security-backed contracts are not assignable or transferable without consent of the issuer and have no publicly traded secondary market.
Security-backed contracts that permit the issuer to terminate at fair value generally provide that the Stable Value Fund may elect to convert such termination to an amortization election as described below. In addition, if the Stable Value Fund defaults in its obligations under the contract (including the issuer’s determination that the agreement constitutes a nonexempt prohibited transaction as defined under ERISA), and such default is not corrected within the time permitted by the contract, then the contract may be terminated by the issuer and the Stable Value Fund will receive the fair value as of the date of termination. Each contract recognizes certain “events of default” which can invalidate contracts’ coverage. Among these are investments outside of the range of investments which are permitted under the investment guidelines contained in the investment contract, fraudulent or other material misrepresentations made to the investment contract provider, changes of control of the investment adviser not approved by the contract issuer, changes in certain key regulatory requirements, or failure of the Plan to be tax qualified.
Generally, security-backed contracts permit the issuer or investment manager to elect at any time to convert the underlying portfolio to a declining duration strategy whereby the contract would terminate at a date that corresponds to the duration of the underlying portfolio on the date of the amortization election. After the effective date of an amortization election, the underlying portfolio must conform to the guidelines agreed upon by the contract issuer and the investment manager for the amortization election period. The guidelines are intended to result in the convergence of the contract value and the fair value of the underlying portfolio by the termination date.
Security‑backed contracts also generally provide for withdrawals associated with certain events, which are not in the ordinary course of Plan operations. These withdrawals are paid with a market value adjustment applied to the withdrawal as defined in the investment contract. Each contract issuer specifies the events, which may trigger a market value adjustment; however, such events may include, but not limited to, the following:
material amendments to the Plan’s structure or administration;
complete or partial termination of the Plan, including a merger with another plan;
the failure of the Plan to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA;
withdrawals due to the removal of a specifically identifiable group of employees from coverage under the participating plan (such as a group layoff or early
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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
retirement incentive program), the closing or sale of a subsidiary, employing unit, or affiliate, the bankruptcy or insolvency of a plan sponsor, the merger of the Plan with another plan, or the Plan sponsor’s establishment of another tax qualified defined contribution plan;
any change in law, regulation, ruling, administrative or judicial position, or accounting requirement, applicable to the Plan or participating plans; and
the delivery of any communication to Plan participants designed to influence a participant not to invest in the Plan.
At this time, the Stable Value Fund manager does not believe that the occurrence of any such market value event, which would limit the Plan’s ability to transact at contract value with participants, is probable.
(iv)   Wrapper Contract Fees
The Stable Value Fund pays wrapper contract fees to the security-backed contract issuers to assure contract liquidity for plan participant‑directed withdrawals. Annual investment management fees in 2020 were $349,241 based on separate agreements for various types of instruments.
(g)        Risks and Uncertainties
The Plan may invest in various types of investment securities. Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statements of net assets available for benefits.
The continuation of COVID-19 around the world has caused significant volatility in the U.S. and abroad. There is significant uncertainty around the breadth and duration of the business disruptions related to COVID-19, as well as its impact on the U.S. and international economies and to the future market value of the Plan's investments.
(h)         Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles may require management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from those estimates.
(i)        Payment of Benefits
Benefits are recorded when paid.

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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
(j)     Adopted Accounting Pronouncement
In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU or Update) 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. The Update modifies fair value disclosure requirements by removing, modifying or adding to the required fair value disclosures which affects our disclosures in note 5 (Fair Value Measurements). The Update is effective for fiscal years beginning after December 15, 2019. The Plan adopted the Update for plan year 2020. The Update did not have a material impact to the statement of net assets available for benefits or the statement of changes in net assets available for benefits.
(k)     Excess Contributions and Earnings Payable
Excess contributions and earnings payable represent amounts withheld from participants in excess of IRC limitations that are to be refunded at year-end. As of December 31, 2020 and 2019, $12,027 and $34,080, respectively, of excess contributions and earnings thereon are required to be refunded prior to December 31, of the subsequent year. These amounts were refunded to participants prior to March of the year following the plan year-end. Excess contributions and earnings are netted against contributions and interest income in the statements of changes in net assets available for benefits.

(3)        Wells Fargo ESOP Fund
The Company’s common and preferred shares held in the Wells Fargo ESOP Fund that were purchased with the proceeds of the ESOP loans from the Company represent leveraged shares. These shares are held in an account called the “Unallocated Reserve.” The leveraged shares are released from the Unallocated Reserve as the ESOP loans are repaid and any preferred shares are converted into Company common stock for allocation to participants’ Plan accounts. The preferred shares are convertible based on the then current market price of the common stock. Such stock is used to provide all or part of the Company matching contributions credited to participants’ accounts.
Each participant is entitled to exercise voting rights attributable to the Company common stock allocated to his or her Plan account and is notified by the Trustee prior to the time that such rights are to be exercised. The Trustee will vote all shares of Company common stock held in the Wells Fargo ESOP Fund and the Unallocated Reserve in proportion to “votes" cast by participants.
Participants may elect to have dividends on their vested accounts held in the Wells Fargo ESOP Fund paid to them in cash or have the dividends automatically reinvested in additional shares of Company common stock in the Wells Fargo ESOP Fund. The dividend will be automatically reinvested in the Plan if: (i) a participant makes no election, (ii) if the total vested dividend for a participant is less than $5, or (iii) the participant is deceased.
The Plan provides that dividends received on the Company’s common and preferred stock held in the Unallocated Reserve, dividends attributable to the portion of the participants’ employer contribution account that are reinvested and dividends that are attributable to the participants’
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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
nonvested accounts will be applied to make any required ESOP loan payments. Shares of the Company’s common stock that are released due to such ESOP loan payments will be transferred to the Wells Fargo ESOP Fund as reinvested dividends. To the extent that such dividends are not sufficient to make required ESOP loan payments, employer contributions will be applied to make the required payments.

(4)        Shares and Investments Not Directed by Participants
Information about the net assets and significant components of the changes in net assets relating to nonparticipant directed investments as of December 31, 2020 and 2019 and for the year ended December 31, 2020 is presented in the following tables and also discussed in Note 8.
20202019
ESOPESOP
UnallocatedUnallocated
Assets:
Company convertible preferred stock$989,631,427 1,231,374,393 
Money market funds25,292,257 86,224,731 
Total investments1,014,923,684 1,317,599,124 
Accrued income4,175 138,171 
Total assets1,014,927,859 1,317,737,295 
Liabilities:
Notes payable(874,843,759)(1,142,883,975)
Total liabilities(874,843,759)(1,142,883,975)
Net assets available for benefits$140,084,100 174,853,320 
Company convertible preferred shares:
Number of shares822,242 1,071,418 
Cost$874,843,715 1,142,883,919 
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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
2020
ESOP
Unallocated
Contributions$147,736,208 
Net appreciation4,902,240 
Dividend income77,097,173 
Interest income511,253 
Notes payable interest expense(18,370,887)
Conversion of preferred stock(268,040,204)
Debt principal payments268,040,215 
Release of common stock - 9,733,434 shares(246,645,218)
Decrease in net assets(34,769,220)
Net assets:
Beginning of year174,853,320 
End of year$140,084,100 
 
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WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020

(5)        Fair Value Measurements
The Plan classifies its investments recorded at fair value as either Level 1, 2, or 3 in the fair value hierarchy. The highest priority (Level 1) is assigned to valuations based on unadjusted quoted prices in active markets and the lowest priority (Level 3) is assigned to valuations based on significant unobservable inputs.
In the determination of the classification of financial instruments in Level 2 or Level 3 of the fair value hierarchy, the Plan considers all available information, including observable market data, indications of market liquidity and orderliness, and its understanding of the valuation techniques and significant inputs used. Judgments are made regarding the significance of the Level 3 inputs to the instruments’ fair value measurement to its entirety. If unobservable inputs are considered significant, the instrument is classified as Level 3.
The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2020 and 2019.
Investments in mutual funds are valued at fair value based upon quoted prices in an active market.
Investments in collective investment funds are redeemable daily at net asset value ("NAV"), which is the readily determinable fair value. The price per share is quoted on a private market; however, the price per share is based on the value of the underlying investments, which are traded on an active market.
Investments in multi-manager funds are comprised of publicly traded mutual funds, which are valued at fair value based upon quoted prices in an active market, and collective investment funds that are valued at NAV. The NAV is based upon the value of the underlying investments which are traded on an active market.
Investments in the Stable Value Fund’s collective investment funds that are not an underlying investment of a fully benefit responsive contract are valued at NAV as described above.
Investments in the Company’s common stock are valued at quoted market values.
Investments in the Company’s convertible preferred stock are valued at appraised value by an independent pricing service. The independent pricing service models the expected cash flows with the contractual dividends and the Company’s common shares equal to $1,000 upon conversion of a preferred share. The independent pricing service then discounts the cash flows back to the present value by the appropriate discount rate which is determined by analyzing a variety of market yields, including yields on preferred securities and bonds issued by the Company and institutions similar to the Company.
Investments in money market funds are in collective investment funds and are valued at NAV as described above.
    16    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
The allocated portion of the Wells Fargo ESOP Fund is structured as a unitized account that holds Wells Fargo common stock that are valued at quoted market prices and a percentage of money market funds that are valued at NAV as described above. The money market funds are used to provide daily liquidity for the fund.
The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes it 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.
The following tables sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2020 and 2019, respectively:
December 31, 2020
Level 1Level 2Level 3Total
Collective investment funds$ 23,196,528,648  23,196,528,648 
Mutual funds937,947,632   937,947,632 
Multi-manager funds:
Collective investment funds 7,578,276,349  7,578,276,349 
Mutual funds3,903,618,759   3,903,618,759 
Total multi-
manager funds3,903,618,759 7,578,276,349  11,481,895,108 
Stable Value Fund
Collective investment funds 222,618,539  222,618,539 
Company common stock6,077,601,259   6,077,601,259 
Company convertible preferred
stock  989,631,427 989,631,427 
Money market funds 146,026,751  146,026,751 
Total investments
at fair value$10,919,167,650 31,143,450,287 989,631,427 43,052,249,364 
    17    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
December 31, 2019
Level 1Level 2Level 3Total
Collective investment funds$— 20,247,438,314 — 20,247,438,314 
Mutual funds689,913,628 — — 689,913,628 
Multi-manager funds:
Collective investment funds— 7,171,276,746 — 7,171,276,746 
Mutual funds3,546,242,857 — — 3,546,242,857 
Total multi-
manager funds3,546,242,857 7,171,276,746 — 10,717,519,603 
Stable Value Fund
Collective investment funds— 299,158,085 — 299,158,085 
Company common stock9,366,536,745 — — 9,366,536,745 
Company convertible preferred
stock— — 1,231,374,393 1,231,374,393 
Money market funds— 202,504,868 — 202,504,868 
Total investments
at fair value$13,602,693,230 27,920,378,013 1,231,374,393 42,754,445,636 

There were no transfers between the fair value levels in 2020. 
    18    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
Level 3 Gains and Losses
The table below sets forth a summary of changes in the fair value of the Plan’s Level 3 assets:
Company
convertible
preferred
stock
Balance, December 31, 2019$1,231,374,393 
Realized losses(14,753,632)
Unrealized gains relating to instruments still held at the reporting date41,050,870 
Conversions(268,040,204)
Balance, December 31, 2020$989,631,427 
Level 3 Significant Unobservable Inputs
The following table provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of those Level 3 assets measured at fair value for which the Plan uses an internal model.
Significant
Fair valueValuationunobservableRange ofWeighted
Level 3techniquesinputsinputsaverage (1)
December 31, 2020:
Convertible preferred stock$989,631,427 DiscountedDiscount
cash flowrate1.90% – 2.40%2.26 %
December 31, 2019:
Convertible preferred stock$1,231,374,393 DiscountedDiscount
cash flowrate3.65% – 3.78%3.75 %
(1) Weighted averages are calculated using outstanding shares at the end of the year.

(6)       Concentration of Investments
At December 31, 2020 and 2019, the Plan owned approximately 3.67% and 3.18%, respectively, of the issued common stock of the Company. The Plan’s investment in shares of the Company’s common and preferred stock aggregate 16.43% and 24.79% of total investments at fair value as of December 31, 2020 and 2019, respectively. The quoted market price of the Company’s common stock was $30.18 and $53.80 as of December 31, 2020 and 2019, respectively.

(7)        Related-Party Transactions and Party in Interest
The Plan engages in transactions involving acquisition or disposition of units of participation in collective investment funds of the Trustee, as well as shares of mutual funds managed by affiliates of the Company and the Trustee, which are parties in interest with respect to the Plan. These
    19    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
transactions are covered by an exemption from the “prohibited transaction” provisions of ERISA and the IRC. Additionally, the Stable Value Fund is managed by an affiliate of the Company and the Company pays the investment management fees of such affiliate that are associated with the Stable Value Fund.
During 2020 and 2019, the Plan allowed participants to invest in Company common stock.

(8)        Other Income
The Plan periodically receives monies from litigation settlements or other residual proceeds (“Proceeds”) related to the Plan, or prior plans that merged into the Plan, in which the Plan Administrator is responsible for determining how these Proceeds will be allocated to the Plan.
These Proceeds are deposited into an interest-bearing account until the Plan Administrator is able to determine how to allocate the monies into the Plan and are included as unallocated investments on the statements of net assets available for benefits and in other income on the statement of changes of net assets available for benefits.

(9)     Tax Status
The Internal Revenue Service (IRS) has determined and informed the Company by a letter dated August 2, 2017, that the Plan and related Trust are designed in accordance with applicable sections of the IRC. Although the Plan has been amended and restated since receiving the determination letter, the Plan Administrator believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC, and therefore believe that the Plan is qualified, and the related Trust is tax-exempt.
Accounting principles generally accepted in the United States of America require the Plan Administrator to evaluate tax positions taken by the Plan and recognize a tax liability, if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2020, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements.

(10)    Regulatory Matters
The Plan Sponsor received written notification dated August 29, 2014, from the DOL advising the Plan had been selected for review by the DOL. In the DOL's August 29th, 2014 written notification, the Plan Sponsor was informed the review will consist primarily of an on-site examination of Plan records and interviews of Plan officials. The DOL has requested to examine information for plan years 2010 through the present.
By a letter dated August 25th, 2020, the Plan Sponsor received written notice from the IRS that the Plan was selected for examination of the Plan year ended December 31, 2018. The IRS requested certain Plan information and documents that the Plan Sponsor has been providing.

    20    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
(11)     Notes Payable
Notes payable as of December 31 were:
20202019
2.50% 2011 ESOP Convertible Preferred Stock Note, due
March 2021$ 29,073,660 
2.30% 2012 ESOP Convertible Preferred Stock Note, due
December 202122,573,596 53,752,596 
1.30% 2013 ESOP Convertible Preferred Stock Note, due
December 202267,523,320 106,763,320 
1.50% 2014 ESOP Convertible Preferred Stock Note, due
December 2023107,975,439 148,268,439 
1.48% 2015 ESOP Convertible Preferred Stock Note, due
December 2024101,153,919 127,154,475 
1.70% 2016 ESOP Convertible Preferred Stock Note, due
December 2025176,420,700 214,430,700 
1.90% 2017 ESOP Convertible Preferred Stock Note, due
December 2026168,595,930 198,552,930 
2.25% 2018 ESOP Convertible Preferred Stock Note, due
December 2027230,600,855 264,887,855 
$874,843,759 1,142,883,975 
Maturities of notes payable calculated based on the contractual agreements are as follows:
Year ending December 31:
2021$25,948,756 
2022235,969,890 
2023195,785,463 
2024147,094,500 
2025127,421,400 
Thereafter142,623,750 
$874,843,759 
The notes represent exempt ESOP loans to the Plan from the Company. The notes may be repaid in installments through March 31, 2027, with the last payment due December 31, 2027. The estimated fair value of the notes as of December 31, 2020 and 2019 was approximately $899 million and $1,119 million, respectively, determined by using interest rates currently available for issuance of debt with similar terms and remaining maturities.
    21    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020

(12)     Plan Termination
Although it has not expressed any intent to do so, the Company by action of its Board of Directors reserves the right to terminate the Plan at any time. In the event of Plan termination, participants shall become 100% vested in their accounts.

(13)   Legal Actions
The following class actions lawsuits have been brought on behalf of Plan participants and beneficiaries:
a)Plaintiff Yvonne Becker filed a putative class action Complaint against Wells Fargo & Company (“Wells Fargo”), Wells Fargo Bank, National Association, Galliard Capital Management, Inc., the Employee Benefits Review Committee, the Human Resources Committee of the Board of Directors of Wells Fargo & Company (“HRC”) and individual members Ronald L. Sargent, Wayne M. Hewett, Donald M. James, and Maria R. Morris on March 13, 2020 in the U.S. District Court for the Northern District of California. Plaintiff is a former employee of Wells Fargo and a participant in the Plan. Plaintiff purports to bring this action on behalf of “all participants and beneficiaries in the Wells Fargo & Company 401(k) Plan from March 13, 2014 through the date of judgment.” Plaintiff alleges that several investment options in the Plan charged excessive fees, underperformed comparable to investment alternatives, and paid fees to Wells Fargo. The challenged investments include:
o Wells Fargo/State Street Target Date Collective Investment Trusts
o Wells Fargo/SSGA Global Equity Index Fund (through the Target Date Funds);
o Wells Fargo/SSGA Global Bond Index Fund (through the Target Date Funds);
o Wells Fargo/Causeway International Value Fund (through the International Equity Fund);
o Wells Fargo Treasury Money Market Fund;
o Wells Fargo Emerging Growth Fund (through the Small Cap Fund);
o Wells Fargo Federated Total Return Bond Fund (through the Global Bond Fund);
o Wells Fargo Stable Value Fund;
o Wells Fargo/Blackrock Short-Term Investment Fund (through the Target Date Funds); and
o Wells Fargo Stable Return Fund (through the Wells Fargo Stable Value Fund).
On the basis of these allegations, Plaintiff asserts four claims for breach of ERISA’s fiduciary duties and violation of ERISA’s prohibited transaction rules.
On May 8, 2020, the Court so ordered the parties’ stipulation in which Plaintiff voluntarily dismissed the HRC and individual members Ronald L. Sargent, Wayne M. Hewett, Donald M. James, and Maria R. Morris from the action.
On May 8, 2020, Defendants filed a motion to transfer venue to the District of Minnesota. On September 21, 2020, the U.S. District Court for the Northern District of California granted Defendants' motion to transfer the case to the U.S. District Court for the District of Minnesota
    22    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
pursuant to the Plan's forum selection clause. Plaintiff appealed that order (via petition for mandamus) and, on April 1, 2021, the Ninth Circuit denied Becker's petition.
Defendants filed a motion to dismiss the Complaint, and the Court heard oral arguments on April 16, 2021.
b)Plaintiffs filed two securities class actions in the Northern District of California against the Company and certain individual defendants: (1) Hefler v. Wells Fargo & Company et al., No. 16-cv-05479, filed on September 26, 2016 by Robbins Geller Rudman & Dowd LLP; and (2) Klein v. Wells Fargo & Company et al., No. 16-cv-05513, filed on September 28, 2016 by Pomerantz LLP. On January 5, 2017, Judge Jon S. Tigar issued an order consolidating the two cases. On March 6, 2017, plaintiffs filed a Consolidated Class Action Complaint for Violations of the Federal Securities Laws (the “First Consolidated Complaint”).
On March 15, 2018, plaintiffs filed a Second Consolidated Class Action Complaint for Violations of the Federal Securities Laws. In the second amended complaint, Plaintiffs purported to represent a class of all persons who acquired Wells Fargo common stock between February 26, 2014 and September 20, 2016. Plaintiffs alleged that defendants made material misstatements and omissions regarding, inter alia, Wells Fargo’s (i) cross-sell metrics, (ii) cross-selling strategy and the purpose of the strategy, (iii) risk management and the effectiveness of internal controls over financial reporting, and (iv) corporate culture and business practices. Plaintiffs allege that these misstatements and omissions were made in, inter alia, Wells Fargo’s quarterly and annual financial statements during the Class Period, quarterly and annual earnings press releases and analyst and investor conference calls, presentations at various investor and industry conferences, and in certain other public statements. On July 30, 2018, the parties entered into a Stipulation and Agreement of Settlement (the “Settlement Agreement”). Therein, Wells Fargo agreed to pay $480,000,000 on behalf of all Defendants for the benefit of the settlement class in return for a release by the class members of all claims relating to the purchase, acquisition, or ownership of Wells Fargo common stock during the Class Period that were asserted or could have been asserted in the action and which relate to the allegations, facts, and circumstances referred to in the complaint.
The deadline for class members to opt out of the settlement or object to its terms was November 27, 2018. The hearing on final approval of the settlement was held on December 18, 2018, and the Court issued an order the same day granting final approval to the settlement. The deadline for class members to submit a claim under the settlement was January 23, 2019. The Plan received notice of the pendency of the proposed class settlement as a result of the Wells Fargo stock purchased and sold in the Plan during the Class Period on behalf of the Plan participants.
In order to avoid any potential conflict of interest with respect to whether to opt in or out of the settlement, the Employee Benefit Review Committee retained an Independent Fiduciary to review the settlement and determine whether it was in the best interest of the Plan participants and beneficiaries for the Trustee of the Plan to opt in or out of the settlement and then direct the Trustee whether to file a claim. The Independent Fiduciary determined that it is in the best
    23    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
interest of the Plan participants and beneficiaries for the Trustee to file a claim and directed the Trustee to file a claim. The Independent Fiduciary worked with the Trustee to determine the amount of the claim, and the Trustee timely filed the claim with the settlement administrator.
The Court previously granted a motion for preliminary approval of the settlement and held a fairness hearing on December 18, 2018, during which the Court granted the motions. The settlement proceeds disbursed to the Plan was dependent on, among other things, the total number of class members who submit claims under the settlement. The settlement administrator disbursed funds to the Trustee in the amount of $40,039,393 on October 8, 2020, which was allocated on February 16, 2021 to Plan participants with positive net purchases in the Wells Fargo ESOP and Non-ESOP Funds greater than $10 (which was the di minimum approved by the Court) between and including February 26, 2014 and September 20, 2016. The settlement excluded the following individuals and entities: (i) Defendants; (ii) Immediate Family Members of any Individual Defendant; (iii) any person who was a director or member of the Operating Committee of Wells Fargo during the Class Period and their Immediate Family Members; (iv) any parent, subsidiary or affiliate of Wells Fargo; (v) any firm, trust, corporation, or other entity in which Defendants or any other excluded person or entity has, or had during the Class Period, a controlling interest; and (vi) the legal representatives, agents, affiliates, heirs, successors-in-interest or assigns of any such excluded persons or entities.
c)Plan participants filed three putative class actions, now consolidated into one action, In re: Wells Fargo ERISA 401(k) Litigation (D. Minn.) against Wells Fargo and various individuals alleged to be fiduciaries under the Plan. The lawsuit alleges that the Company’s stock should not have been offered as an investment option in the Plan and seeks damages, as a result of the drop in the Company’s stock price. This consolidated class action arises out of the Wells Fargo government consent orders relating to sales practices, which were announced publicly on September 8, 2016.
Plaintiffs challenge the decision to offer the Wells Fargo Stock Fund as an investment option, alleging that the stock was trading at an artificially high price due to allegedly undisclosed sales practices and that the defendants should have acted on that information to prevent Plan participant losses when the stock price declined. Plaintiffs filed a consolidated, amended complaint on December 21, 2016, and defendants moved to dismiss the action on April 3, 2017. On September 21, 2017, the Court dismissed the action but allowed the plaintiffs to replead one count of the prior complaint. Plaintiffs filed an amended complaint, which defendants moved to dismiss on December 4, 2017. On July 19, 2018, the District Court dismissed the action completely. In July 2020, the United States Court of Appeals for the Eighth Circuit affirmed the District Court's dismissal. Plaintiffs' filed a petition for certiorari in the U.S. Supreme Court, and Wells Fargo's response was filed on March 1, 2021. On May 3, 2021, the Supreme Court denied the petition for writ of certiorari affirming the decisions of the lower courts, therefore the action is closed.
    24    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Notes to Financial Statements
December 31, 2020
(14)    Subsequent Events
In accordance with ASC 855, Subsequent Events, the Plan has events that have occurred subsequent to period end December 31, 2020 through June 24, 2021, the date at which the financial statements were available to be issued that require disclosure as follows:
Effective January 1, 2021, Empower Retirement, LLC became the new recordkeeper for the Plan and Great-West Trust Company, LLC became the new trustee for the Plan.
Effective January 1, 2021, Wells Fargo made certain changes relating to employer matching contributions under the Plan, with the result that the Plan is no longer considered a safe harbor plan under the IRC and is subject to annual nondiscrimination testing requirements from which it was previously exempt. Employer matching contributions are now subject to 3-year cliff vesting. With certain exceptions, a participant who is otherwise eligible to receive employer matching contributions will receive an employer matching contribution for a plan year only if he or she is employed on December 15 of that year.
Effective January 1, 2021, Wells Fargo amended the Plan to provide for a new annual employer contribution generally equal to the greater of 1% of an eligible participant’s certified compensation under the Plan for the plan year or $300. To be eligible to receive this contribution for a plan year, a participant must have completed one year of vesting service, must be employed on December 15 of the plan year (with certain exceptions), and the sum of the participant’s certified compensation and elective deferrals to the Wells Fargo & Company Deferred Compensation Plan for the plan year must be less than $75,000.
Effective January 1, 2021, Wells Fargo amended the Plan’s eligibility requirements with respect to employer discretionary contributions. To be eligible to receive this contribution for a plan year, in addition to completing a year of vesting service, a participant must now be employed on December 15 of the plan year (with certain exceptions) and the sum of the participant’s certified compensation and elective deferrals to the Wells Fargo & Company Deferred Compensation Plan for the plan year must be less than $150,000.
Effective January 1, 2021, Wells Fargo amended the Plan to add the option for distribution in the form of installments for participants who otherwise become eligible to receive distribution of their Plan benefit.
25


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
*Participant loansParticipant loans,
interest rates ranging from 3.25% to
11.50%, maturing at various dates
through November 30, 2040N/A$834,307,016 
State Street U.S. Bond Index FundCollective Investment Fund137,378,971 (1)1,689,211,828 
State Street S&P 500 Index FundCollective Investment Fund163,892,264 (1)5,573,156,422 
State Street S&P MidCap Index Fund Collective Investment Fund49,750,129 (1)2,288,058,175 
State Street Russell Small Cap Index FundCollective Investment Fund22,636,425 (1)894,885,775 
State Street International Index FundCollective Investment Fund25,892,953 (1)694,008,807 
State Street NASDAQ 100 Index FundCollective Investment Fund44,720,182 (1)3,781,225,563 
Blackrock Global ESG Equity Index FundCollective Investment Fund9,047,983 (1)130,118,139 
State Street Emerging Markets Index FundCollective Investment Fund3,253,445 (1)130,355,790 
*Wells Fargo / State Street Target Today CITCollective Investment Fund12,965,579 (1)182,922,272 
*Wells Fargo / State Street Target 2015 CITCollective Investment Fund10,065,911 (1)132,749,236 
*Wells Fargo / State Street Target 2020 CITCollective Investment Fund25,806,598 (1)516,147,442 
*Wells Fargo / State Street Target 2025 CITCollective Investment Fund95,914,672 (1)1,370,121,902 
*Wells Fargo / State Street Target 2030 CITCollective Investment Fund51,118,394 (1)1,227,025,474 
*Wells Fargo / State Street Target 2035 CITCollective Investment Fund59,373,770 (1)961,504,773 
*Wells Fargo / State Street Target 2040 CITCollective Investment Fund37,938,944 (1)1,109,327,135 
*Wells Fargo / State Street Target 2045 CITCollective Investment Fund41,271,164 (1)740,239,599 
*Wells Fargo / State Street Target 2050 CITCollective Investment Fund67,156,193 (1)1,170,122,788 
*Wells Fargo / State Street Target 2055 CITCollective Investment Fund20,420,449 (1)434,955,565 
*Wells Fargo / State Street Target 2060 CITCollective Investment Fund9,737,143 (1)162,380,499 
*Wells Fargo / State Street Target 2065 CITCollective Investment Fund688,105 (1)8,011,464 
23,196,528,648 
*Wells Fargo 100% Treasury Money Market FundMutual Fund937,947,632 (1)937,947,632 
937,947,632 
Large Cap Value FundMulti-Manager Fund
Dodge & Cox Stock FundMutual Fund4,965,771 (1)956,208,839 
T Rowe Price Equity Income FundCommon Collective Fund34,295,525 (1)924,950,314 
MFS Large Cap Value FundCommon Collective Fund27,549,259 (1)936,399,326 
2,817,558,479 
Large Cap Growth FundMulti-Manager Fund
Los Angeles Large Cap Growth FundCommon Collective Fund40,504,069 (1)1,340,684,694 
T Rowe Price Blue Chip Growth FundCommon Collective Fund20,629,745 (1)1,361,150,583 
Delaware US Growth FundMutual Fund43,760,874 (1)1,338,645,126 
4,040,480,403 
 Small Cap FundMulti-Manager Fund
*Wells Fargo Emerging Growth FundMutual Fund15,040,857 (1)302,170,812 
Advisory Research Small Cap Value FundCommon Collective Fund11,853,072 (1)292,770,884 
State Street Russell Small Cap Index FundCommon Collective Fund15,283,227 (1)604,191,811 
Wellington Select Small Cap Growth FundCommon Collective Fund11,112,433 (1)301,369,174 
Wellington Small Cap Value FundCommon Collective Fund22,433,253 (1)291,407,960 
1,791,910,641 
International Equity FundMulti-Manager Fund
Causeway International Value FundCommon Collective Fund33,982,896 (1)388,424,504 
Sprucegrove Collective FundCommon Collective Fund37,879,098 (1)396,215,363 
American Funds EuroPacific Growth FundMutual Fund11,562,617 (1)801,289,387 
1,585,929,254 
Emerging Markets Equity FundMulti-Manager Fund
Acadian Emerging Markets Equity FundCommon Collective Fund23,101,288 (1)338,433,877 
Lazard Emerging Markets FundCommon Collective Fund17,047,923 (1)331,582,098 
DFA Emerging Markets Small Cap FundMutual Fund7,239,898 (1)167,676,031 
837,692,006 
Diversified Real Asset FundMulti-Manager Fund
Principal Diversified Real Asset FundCommon Collective Fund4,466,602 (1)53,018,563 
State Street Real Asset FundCommon Collective Fund1,508,165 (1)17,677,198 
70,695,761 
Global Bond FundMulti-Manager Fund
Federated Hermes Total Return Bond FundMutual Fund5,815,143 (1)67,281,206 
Brandywine Global Opportunities Bond FundMutual Fund11,373,133 (1)135,795,211 
PIMCO Global Advantage Strategy Bond FundMutual Fund11,490,363 (1)134,552,147 
337,628,564 
11,481,895,108 
    26    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
*Wells Fargo Stable Value Fund
Security-backed contracts:
American General Life Ins. Co.2.00%(1)$— 
Massachusetts Mutual Life Ins.2.31%(1)— 
Pacific Life Ins. Co.2.46%(1)— 
Prudential Ins. Co. of America2.52%(1)— 
Royal Bank of Canada2.18%(1)— 
State Street Bank and TrustCo.2.34%(1)— 
Transamerica Premier Life Ins. Co.2.37%(1)— 
Voya Ins. and Annuity Co.2.15%(1)— 
*Wells Fargo Fixed Income Fund C212,357,237 units(1)381,687,874 
381,687,874 
Adjustment from fair value to current value(18,035,871)
Total363,652,003 
American General Life Ins. Co.2.00%(1)— 
Massachusetts Mutual Life Ins.2.31%(1)— 
Pacific Life Ins. Co.2.46%(1)— 
Prudential Ins. Co. of America2.52%(1)— 
Royal Bank of Canada2.18%(1)— 
State Street Bank and TrustCo.2.34%(1)— 
Transamerica Premier Life Ins. Co.2.37%(1)— 
Voya Ins. and Annuity Co.2.15%(1)— 
*Wells Fargo Fixed Income Fund Q231,307,770 units(1)390,286,983 
390,286,983 
Adjustment from fair value to current value(18,023,055)
Total372,263,928 
Metropolitan Life Ins. Co.2.31%(1)— 
Separate account 771(1)375,897,170 
Separate account 690(1)297,325,934 
673,223,104 
Adjustment from fair value to current value(29,020,103)
Total644,203,001 
American General Life Ins. Co.2.00%(1)— 
Massachusetts Mutual Life Ins.2.31%(1)— 
Nationwide Life Insurance Co.2.36%(1)— 
Pacific Life Ins. Co.2.46%(1)— 
Prudential Ins. Co. of America2.52%(1)— 
Royal Bank of Canada2.18%(1)— 
State Street Bank and TrustCo.2.34%(1)— 
Transamerica Premier Life Ins. Co.2.37%(1)— 
Voya Ins. and Annuity Co.2.15%(1)— 
3M Co2.650%, $225,000 par, due 4/15/2025 (1)244,376 
Abay Leasing 2014 LLC2.654%, $1,905,000 par, due 11/9/2026 (1)2,016,846 
ABB Treasury Center USA Inc4.000%, $550,000 par, due 6/15/2021 (1)559,129 
AbbVie Inc3.375%, $561,000 par, due 11/14/2021 (1)576,078 
AbbVie Inc2.300%, $3,680,000 par, due 11/21/2022 (1)3,813,952 
AbbVie Inc2.150%, $2,450,000 par, due 11/19/2021 (1)2,489,460 
Access Group Inc 2013-10.648%, $1,068,876 par, due 2/25/2036 (1)1,058,594 
AEP Texas Inc2.400%, $153,000 par, due 10/1/2022 (1)157,820 
AIG Global Funding2.700%, $1,380,000 par, due 12/15/2021 (1)1,410,963 
AIG Global Funding2.300%, $1,660,000 par, due 7/1/2022 (1)1,704,888 
Alexandria Real Estate Equities Inc3.450%, $2,000,000 par, due 4/30/2025 (1)2,223,840 
Alexandria Real Estate Equities Inc4.000%, $882,000 par, due 1/15/2024 (1)970,685 
Alliant Energy Finance LLC3.750%, $166,000 par, due 6/15/2023 (1)177,856 
Ally Auto Receivables Trust 2018-12.350%, $239,048 par, due 6/15/2022 (1)239,697 
Ally Auto Receivables Trust 2018-22.920%, $662,197 par, due 11/15/2022 (1)667,226 
Ally Auto Receivables Trust 2018-33.000%, $296,905 par, due 1/17/2023 (1)299,929 
Ally Auto Receivables Trust 2019-12.910%, $1,511,356 par, due 9/15/2023 (1)1,536,243 
Ally Auto Receivables Trust 2019-31.930%, $1,490,000 par, due 5/15/2024 (1)1,513,940 
Amal Ltd/Cayman Islands3.465%, $129,842 par, due 8/21/2021 (1)131,397 
Ameren Illinois Co2.700%, $620,000 par, due 9/1/2022 (1)640,688 
Ameren Illinois Co3.250%, $1,420,000 par, due 3/1/2025 (1)1,559,494 
American Electric Power Co Inc3.650%, $400,000 par, due 12/1/2021 (1)412,353 
American Express Co3.375%, $1,026,000 par, due 5/17/2021 (1)1,034,902 
American Express Co2.750%, $850,000 par, due 5/20/2022 (1)876,905 
American Express Co3.400%, $360,000 par, due 2/22/2024 (1)390,701 
American Express Co3.400%, $355,000 par, due 2/27/2023 (1)377,564 
    27    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
American Express Co3.700%, $1,300,000 par, due 8/3/2023 (1)$1,407,756 
American Express Credit Account Master Trust3.180%, $3,633,000 par, due 4/15/2024 (1)3,707,942 
American Express Credit Account Master Trust2.870%, $4,380,000 par, due 10/15/2024 (1)4,519,284 
American Express Credit Account Master Trust3.060%, $4,000,000 par, due 2/15/2024 (1)4,061,168 
American Honda Finance Corp2.200%, $2,232,000 par, due 6/27/2022 (1)2,293,670 
American Honda Finance Corp3.450%, $274,000 par, due 7/14/2023 (1)295,106 
American Honda Finance Corp2.050%, $2,110,000 par, due 1/10/2023 (1)2,181,926 
American Honda Finance Corp1.950%, $1,470,000 par, due 5/10/2023 (1)1,524,502 
American Transmission Systems Inc5.250%, $755,000 par, due 1/15/2022 (1)786,863 
Americredit Automobile Receivables Trust 2018-23.150%, $698,014 par, due 3/20/2023 (1)704,025 
Americredit Automobile Receivables Trust 2018-33.380%, $747,841 par, due 7/18/2023 (1)756,830 
AmeriCredit Automobile Receivables Trust 2019-32.060%, $2,120,000 par, due 4/18/2024 (1)2,153,117 
Amphenol Corp2.050%, $1,295,000 par, due 3/1/2025 (1)1,368,042 
Amphenol Corp3.200%, $58,000 par, due 4/1/2024 (1)62,475 
Analog Devices Inc2.950%, $225,000 par, due 4/1/2025 (1)245,575 
Anglo American Capital PLC3.625%, $1,200,000 par, due 9/11/2024 (1)1,305,438 
Anheuser-Busch InBev Worldwide Inc4.150%, $450,000 par, due 1/23/2025 (1)512,411 
Ann Arbor School District2.016%, $3,500,000 par, due 5/1/2023 (1)3,622,570 
Archer-Daniels-Midland Co2.750%, $450,000 par, due 3/27/2025 (1)489,427 
ARI Fleet Lease Trust 2018-B3.220%, $1,118,146 par, due 8/16/2027 (1)1,127,005 
ARI Fleet Lease Trust 2019-A2.410%, $1,095,302 par, due 11/15/2027 (1)1,110,272 
AT&T Inc1.650%, $1,400,000 par, due 2/1/2028 (1)1,428,412 
AT&T Inc2.300%, $560,000 par, due 6/1/2027 (1)597,261 
AT&T Inc1.400%, $1,680,000 par, due 6/12/2024 (1)1,721,126 
AvalonBay Communities Inc2.950%, $264,000 par, due 9/15/2022 (1)273,975 
BA Credit Card Trust0.340%, $2,630,000 par, due 5/15/2026 (1)2,633,216 
BAE Systems Holdings Inc3.800%, $1,850,000 par, due 10/7/2024 (1)2,057,243 
BAE Systems PLC4.750%, $315,000 par, due 10/11/2021 (1)325,116 
Baker Hughes a GE Co LLC2.773%, $1,312,000 par, due 12/15/2022 (1)1,370,245 
Bank of America Corp3.004%, $2,629,000 par, due 12/20/2023 (1)2,767,049 
Bank of America Corp3.499%, $220,000 par, due 5/17/2022 (1)222,607 
Bank of America Corp2.881%, $517,000 par, due 4/24/2023 (1)533,501 
Bank of America Corp1.169%, $960,000 par, due 7/23/2024 (1)972,620 
Bank of America Corp1.215%, $2,214,000 par, due 4/24/2023 (1)2,236,970 
Bank of America Corp0.810%, $3,500,000 par, due 10/24/2024 (1)3,532,704 
Bank of America Corp3.864%, $567,000 par, due 7/23/2024 (1)614,743 
Bank of America Corp3.124%, $1,162,000 par, due 1/20/2023 (1)1,195,360 
Bank of America Corp4.000%, $1,014,000 par, due 4/1/2024 (1)1,125,602 
Bank of America Corp3.300%, $405,000 par, due 1/11/2023 (1)429,385 
Bank of America NA3.335%, $500,000 par, due 1/25/2023 (1)516,242 
Bank of Montreal3.300%, $749,000 par, due 2/5/2024 (1)812,371 
Bank of Montreal2.500%, $1,952,000 par, due 1/11/2022 (1)1,997,107 
Bank of Montreal2.050%, $380,000 par, due 11/1/2022 (1)392,110 
Bank of Montreal1.750%, $450,000 par, due 6/15/2021 (1)453,010 
Bank of New York Mellon Corp/The2.661%, $370,000 par, due 5/16/2023 (1)381,311 
Bank of New York Mellon Corp/The3.450%, $202,000 par, due 8/11/2023 (1)218,355 
Bank of Nova Scotia/The3.400%, $391,000 par, due 2/11/2024 (1)425,476 
Bank of Nova Scotia/The1.950%, $860,000 par, due 2/1/2023 (1)888,156 
Bank of Nova Scotia/The2.000%, $1,840,000 par, due 11/15/2022 (1)1,900,120 
Bank of Nova Scotia/The1.875%, $2,553,000 par, due 4/26/2021 (1)2,566,048 
Baptist Health South Florida Inc4.590%, $1,000,000 par, due 8/15/2021 (1)1,024,103 
Bayer US Finance II LLC3.875%, $454,000 par, due 12/15/2023 (1)494,552 
Bayer US Finance II LLC1.227%, $860,000 par, due 12/15/2023 (1)868,843 
Bayer US Finance II LLC3.500%, $413,000 par, due 6/25/2021 (1)418,021 
BMW US Capital LLC3.150%, $378,000 par, due 4/18/2024 (1)407,587 
BMW US Capital LLC3.100%, $405,000 par, due 4/12/2021 (1)407,900 
BMW US Capital LLC2.000%, $350,000 par, due 4/11/2021 (1)351,058 
BMW US Capital LLC2.950%, $1,485,000 par, due 4/14/2022 (1)1,535,254 
BMW US Capital LLC2.700%, $1,095,000 par, due 4/6/2022 (1)1,125,409 
BMW Vehicle Lease Trust 2018-13.260%, $248,465 par, due 7/20/2021 (1)248,854 
BMW Vehicle Owner Trust 2019-A1.920%, $2,970,000 par, due 1/25/2024 (1)3,015,304 
BNP Paribas SA4.705%, $1,307,000 par, due 1/10/2025 (1)1,452,639 
BNP Paribas SA2.819%, $425,000 par, due 11/19/2025 (1)453,017 
Boeing Co/The2.700%, $470,000 par, due 5/1/2022 (1)483,216 
Boeing Co/The2.300%, $900,000 par, due 8/1/2021 (1)908,249 
Boeing Co/The4.875%, $1,585,000 par, due 5/1/2025 (1)1,806,754 
Boston Properties LP4.125%, $369,000 par, due 5/15/2021 (1)370,526 
Boston Properties LP3.125%, $635,000 par, due 9/1/2023 (1)673,557 
    28    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Boston Properties LP3.800%, $624,000 par, due 2/1/2024 (1)$678,038 
BP Capital Markets America Inc3.790%, $112,000 par, due 2/6/2024 (1)122,398 
BP Capital Markets America Inc3.194%, $365,000 par, due 4/6/2025 (1)401,496 
BP Capital Markets America Inc2.937%, $490,000 par, due 4/6/2023 (1)517,113 
BP Capital Markets America Inc2.520%, $36,000 par, due 9/19/2022 (1)37,236 
BP Capital Markets America Inc3.245%, $270,000 par, due 5/6/2022 (1)280,743 
BP Capital Markets America Inc2.750%, $1,417,000 par, due 5/10/2023 (1)1,494,564 
BP Capital Markets America Inc3.224%, $234,000 par, due 4/14/2024 (1)253,133 
Brazos Higher Education Authority Inc1.107%, $325,921 par, due 5/25/2029 (1)326,215 
Bristol-Myers Squibb Co2.900%, $280,000 par, due 7/26/2024 (1)303,871 
Bristol-Myers Squibb Co0.537%, $2,470,000 par, due 11/13/2023 (1)2,474,473 
Burlington Northern Santa Fe LLC3.050%, $787,000 par, due 9/1/2022 (1)817,573 
Byron Center Public Schools2.546%, $750,000 par, due 5/1/2024 (1)799,493 
Canadian Natural Resources Ltd2.950%, $1,300,000 par, due 1/15/2023 (1)1,359,644 
Capital One Bank USA NA2.014%, $710,000 par, due 1/27/2023 (1)722,186 
Capital One Financial Corp3.450%, $1,010,000 par, due 4/30/2021 (1)1,017,502 
Capital One NA1.033%, $1,549,000 par, due 8/8/2022 (1)1,560,410 
Capital One NA2.250%, $1,197,000 par, due 9/13/2021 (1)1,211,390 
Capital One Prime Auto Receivables Trust 2019-21.920%, $3,335,000 par, due 5/15/2024 (1)3,394,950 
Cardinal Health Inc2.616%, $1,882,000 par, due 6/15/2022 (1)1,937,128 
Cargill Inc1.375%, $635,000 par, due 7/23/2023 (1)650,853 
Cargill Inc3.250%, $1,596,000 par, due 11/15/2021 (1)1,636,495 
CarMax Auto Owner Trust 2017-31.970%, $189,816 par, due 4/15/2022 (1)190,131 
CarMax Auto Owner Trust 2018-22.980%, $347,005 par, due 1/17/2023 (1)350,733 
Carmax Auto Owner Trust 2018-43.360%, $1,356,527 par, due 9/15/2023 (1)1,385,113 
Carmax Auto Owner Trust 2019-32.210%, $1,933,777 par, due 12/15/2022 (1)1,942,664 
Carmax Auto Owner Trust 2019-42.020%, $4,445,000 par, due 11/15/2024 (1)4,569,384 
Carmax Auto Owner Trust 2020-11.890%, $4,145,000 par, due 12/16/2024 (1)4,252,206 
CarMax Auto Owner Trust 2020-30.490%, $6,005,000 par, due 6/15/2023 (1)6,014,200 
Carrier Global Corp1.923%, $775,000 par, due 2/15/2023 (1)798,382 
Carrier Global Corp2.242%, $1,185,000 par, due 2/15/2025 (1)1,253,923 
Caterpillar Financial Services Corp3.650%, $261,000 par, due 12/7/2023 (1)286,199 
Caterpillar Financial Services Corp0.505%, $680,000 par, due 9/7/2021 (1)681,075 
Caterpillar Financial Services Corp2.850%, $135,000 par, due 5/17/2024 (1)145,327 
Caterpillar Financial Services Corp2.550%, $99,000 par, due 11/29/2022 (1)103,146 
Caterpillar Financial Services Corp0.450%, $800,000 par, due 9/14/2023 (1)803,083 
CenterPoint Energy Houston Electric LLC2.250%, $1,553,000 par, due 8/1/2022 (1)1,592,751 
CES MU2 LLC2.166%, $3,613,590 par, due 12/16/2026 (1)3,774,145 
Charles Schwab Corp/The4.200%, $900,000 par, due 3/24/2025 (1)1,031,818 
Chesapeake Funding II LLC3.230%, $333,610 par, due 8/15/2030 (1)341,037 
Chesapeake Funding II LLC3.040%, $683,873 par, due 4/15/2030 (1)690,847 
Chesapeake Funding II LLC1.950%, $2,586,717 par, due 9/15/2031 (1)2,628,420 
Chesapeake Funding II LLC0.870%, $4,525,062 par, due 8/16/2032 (1)4,547,506 
Chesapeake Funding II LLC3.390%, $1,097,444 par, due 1/15/2031 (1)1,129,140 
Chevron Corp1.554%, $790,000 par, due 5/11/2025 (1)821,584 
Chevron Phillips Chemical Co LLC3.300%, $171,000 par, due 5/1/2023 (1)180,997 
Chubb INA Holdings Inc3.350%, $500,000 par, due 5/15/2024 (1)545,861 
Cigna Corp3.750%, $114,000 par, due 7/15/2023 (1)123,242 
Cigna Corp3.400%, $967,000 par, due 9/17/2021 (1)987,789 
Cintas Corp No 24.300%, $360,000 par, due 6/1/2021 (1)365,813 
Cintas Corp No 22.900%, $2,129,000 par, due 4/1/2022 (1)2,191,329 
Citibank NA3.165%, $2,200,000 par, due 2/19/2022 (1)2,207,671 
Citibank NA3.650%, $340,000 par, due 1/23/2024 (1)371,668 
Citibank NA2.844%, $920,000 par, due 5/20/2022 (1)928,744 
Citigroup Commercial Mortgage Trust 2012-GC82.608%, $474,353 par, due 9/10/2045 (1)480,776 
Citigroup Commercial Mortgage Trust 2014-GC193.552%, $1,236,988 par, due 3/10/2047 (1)1,298,881 
Citigroup Inc4.044%, $430,000 par, due 6/1/2024 (1)467,644 
Citigroup Inc1.248%, $480,000 par, due 6/1/2024 (1)485,347 
Citigroup Inc2.312%, $2,980,000 par, due 11/4/2022 (1)3,027,614 
Citigroup Inc0.776%, $1,020,000 par, due 10/30/2024 (1)1,026,617 
Citigroup Inc3.352%, $331,000 par, due 4/24/2025 (1)359,855 
Citigroup Inc4.500%, $292,000 par, due 1/14/2022 (1)304,462 
Citizens Bank NA/Providence RI3.250%, $1,140,000 par, due 2/14/2022 (1)1,173,676 
Citizens Bank NA/Providence RI2.550%, $250,000 par, due 5/13/2021 (1)251,544 
Citizens Bank NA/Providence RI2.250%, $1,045,000 par, due 4/28/2025 (1)1,108,818 
Clorox Co/The3.800%, $359,000 par, due 11/15/2021 (1)369,909 
CNH Equipment Trust 2017-B1.860%, $297,530 par, due 9/15/2022 (1)298,258 
CNH Equipment Trust 2019-A3.010%, $1,197,620 par, due 4/15/2024 (1)1,224,474 
    29    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Coca-Cola Co/The2.950%, $1,100,000 par, due 3/25/2025 (1)$1,212,483 
COLGATE UNIVERSITY2.180%, $1,135,000 par, due 7/1/2023 (1)1,167,189 
College Loan Corp Trust I0.965%, $5,945,000 par, due 4/25/2046 (1)5,835,541 
Comcast Corp3.700%, $1,000,000 par, due 4/15/2024 (1)1,100,208 
Comcast Corp3.100%, $1,105,000 par, due 4/1/2025 (1)1,215,844 
Comcast Corp3.000%, $405,000 par, due 2/1/2024 (1)435,677 
Comerica Inc3.700%, $326,000 par, due 7/31/2023 (1)351,703 
COMM 2012-CCRE1 Mortgage Trust3.053%, $72,454 par, due 5/15/2045 (1)73,360 
COMM 2012-CCRE2 Mortgage Trust2.752%, $29,640 par, due 8/15/2045 (1)29,748 
COMM 2012-CCRE3 Mortgage Trust2.372%, $683,569 par, due 10/15/2045 (1)692,472 
COMM 2012-CCRE5 Mortgage Trust2.388%, $1,274,818 par, due 12/10/2045 (1)1,291,661 
Comm 2013-CCRE13 Mortgage Trust4.194%, $810,000 par, due 11/10/2046 (1)887,920 
COMM 2013-CCRE7 Mortgage Trust3.213%, $379,318 par, due 3/10/2046 (1)399,154 
COMM 2013-LC6 Mortgage Trust2.941%, $342,613 par, due 1/10/2046 (1)355,987 
COMM 2014-CCRE19 Mortgage Trust3.499%, $2,236,834 par, due 8/10/2047 (1)2,354,382 
COMM 2014-CR14 Mortgage Trust3.743%, $1,705,333 par, due 2/10/2047 (1)1,784,597 
CommonSpirit Health2.760%, $415,000 par, due 10/1/2024 (1)444,898 
Connecticut Light and Power Co/The2.500%, $1,020,000 par, due 1/15/2023 (1)1,059,113 
Connecticut Light and Power Co/The0.750%, $1,390,000 par, due 12/1/2025 (1)1,405,788 
Cooperatieve Rabobank UA2.625%, $2,005,000 par, due 7/22/2024 (1)2,144,117 
Cooperatieve Rabobank UA1.111%, $470,000 par, due 9/26/2023 (1)475,948 
Cooperatieve Rabobank UA/NY2.750%, $265,000 par, due 1/10/2023 (1)277,952 
County of Berks PA1.817%, $1,000,000 par, due 11/15/2022 (1)1,022,740 
County of Howard MD1.337%, $3,000,000 par, due 8/15/2023 (1)3,090,510 
County of Spokane WA2.096%, $1,400,000 par, due 12/1/2024 (1)1,485,330 
Credit Suisse Group AG3.574%, $1,480,000 par, due 1/9/2023 (1)1,524,856 
Credit Suisse Group AG2.997%, $324,000 par, due 12/14/2023 (1)338,770 
Credit Suisse Group AG4.207%, $420,000 par, due 6/12/2024 (1)455,037 
Credit Suisse Group AG1.420%, $1,600,000 par, due 12/14/2023 (1)1,619,318 
Credit Suisse Group AG1.460%, $790,000 par, due 6/12/2024 (1)801,197 
CRH America Inc3.875%, $1,410,000 par, due 5/18/2025 (1)1,583,767 
Curators of the University of Missouri/The1.714%, $1,765,000 par, due 11/1/2025 (1)1,842,466 
Curators of the University of Missouri/The1.466%, $1,000,000 par, due 11/1/2023 (1)1,027,370 
CVS Health Corp2.125%, $304,000 par, due 6/1/2021 (1)305,801 
CVS Health Corp3.700%, $194,000 par, due 3/9/2023 (1)207,545 
CVS Health Corp3.350%, $516,000 par, due 3/9/2021 (1)518,829 
CVS Health Corp2.625%, $690,000 par, due 8/15/2024 (1)739,385 
Daimler Finance North America LLC3.750%, $450,000 par, due 11/5/2021 (1)462,471 
Daimler Finance North America LLC3.350%, $610,000 par, due 5/4/2021 (1)615,850 
Daimler Finance North America LLC2.200%, $270,000 par, due 10/30/2021 (1)273,767 
Daimler Finance North America LLC2.300%, $1,077,000 par, due 2/12/2021 (1)1,079,172 
Daimler Finance North America LLC2.000%, $202,000 par, due 7/6/2021 (1)203,600 
Daimler Finance North America LLC3.000%, $770,000 par, due 2/22/2021 (1)772,540 
Daimler Finance North America LLC3.350%, $250,000 par, due 2/22/2023 (1)264,574 
Daimler Finance North America LLC1.750%, $3,145,000 par, due 3/10/2023 (1)3,228,887 
Danone SA3.000%, $830,000 par, due 6/15/2022 (1)861,705 
Dell Equipment Finance Trust 2018-13.180%, $156,166 par, due 6/22/2023 (1)156,771 
Dell Equipment Finance Trust 2018-23.370%, $655,973 par, due 10/22/2023 (1)659,609 
Dell Equipment Finance Trust 2019-21.910%, $2,905,000 par, due 10/22/2024 (1)2,954,922 
Dell Equipment Finance Trust 2020-12.260%, $4,395,000 par, due 6/22/2022 (1)4,446,325 
Dell Equipment Finance Trust 2020-20.570%, $1,915,000 par, due 10/23/2023 (1)1,921,526 
Diageo Capital PLC3.500%, $1,502,000 par, due 9/18/2023 (1)1,618,668 
Diageo Capital PLC1.375%, $480,000 par, due 9/29/2025 (1)493,207 
Discover Card Execution Note Trust3.110%, $1,095,000 par, due 1/16/2024 (1)1,111,877 
Discover Card Execution Note Trust3.040%, $1,980,000 par, due 7/15/2024 (1)2,038,578 
DNB Boligkreditt AS2.500%, $788,000 par, due 3/28/2022 (1)808,898 
DTE Electric Co3.650%, $1,020,000 par, due 3/15/2024 (1)1,110,785 
Duke Energy Carolinas LLC2.500%, $337,000 par, due 3/15/2023 (1)351,711 
Duke Energy Carolinas LLC3.050%, $1,193,000 par, due 3/15/2023 (1)1,260,303 
Duke Energy Progress LLC3.375%, $90,000 par, due 9/1/2023 (1)96,821 
DuPont de Nemours Inc4.493%, $965,000 par, due 11/15/2025 (1)1,126,493 
DuPont de Nemours Inc1.331%, $940,000 par, due 11/15/2023 (1)954,355 
East Ohio Gas Co/The1.300%, $390,000 par, due 6/15/2025 (1)397,382 
EdLinc Student Loan Funding Trust 2012-11.148%, $860,636 par, due 9/25/2030 (1)863,975 
Edsouth Indenture No 2 LLC1.298%, $132,324 par, due 9/25/2040 (1)132,660 
Edsouth Indenture No 3 LLC0.878%, $420,300 par, due 4/25/2039 (1)417,743 
Edsouth Indenture No 4 LLC0.718%, $363,250 par, due 2/26/2029 (1)361,890 
Edu Fund of South1.198%, $453,751 par, due 3/25/2036 (1)455,883 
    30    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Edu Fund of South0.865%, $669,064 par, due 4/25/2035 (1)$669,107 
EI du Pont de Nemours and Co1.700%, $410,000 par, due 7/15/2025 (1)427,264 
Emory University1.566%, $780,000 par, due 9/1/2025 (1)810,436 
Entergy Arkansas LLC3.050%, $796,000 par, due 6/1/2023 (1)839,204 
Entergy Louisiana LLC0.620%, $1,470,000 par, due 11/17/2023 (1)1,474,885 
Enterprise Fleet Financing 2018-2 LLC3.140%, $706,824 par, due 2/20/2024 (1)711,710 
Enterprise Fleet Financing 2019-2 LLC2.290%, $2,996,418 par, due 2/20/2025 (1)3,046,321 
Enterprise Fleet Financing 2019-3 LLC2.060%, $2,162,161 par, due 5/20/2025 (1)2,198,524 
Enterprise Fleet Financing 2020-1 LLC1.780%, $3,347,109 par, due 12/22/2025 (1)3,400,934 
Enterprise Fleet Financing 2020-2 LLC0.610%, $4,265,000 par, due 7/20/2026 (1)4,276,541 
Enterprise Fleet Financing LLC2.870%, $25,874 par, due 10/20/2023 (1)25,981 
Enterprise Products Operating LLC2.850%, $405,000 par, due 4/15/2021 (1)406,977 
Enterprise Products Operating LLC2.800%, $1,247,000 par, due 2/15/2021 (1)1,250,520 
Enterprise Products Operating LLC3.500%, $941,000 par, due 2/1/2022 (1)972,776 
Equifax Inc3.600%, $1,018,000 par, due 8/15/2021 (1)1,036,971 
Equifax Inc2.300%, $864,000 par, due 6/1/2021 (1)868,856 
Equifax Inc3.950%, $45,000 par, due 6/15/2023 (1)48,617 
Equinor ASA2.875%, $1,375,000 par, due 4/6/2025 (1)1,501,783 
Equinor ASA1.750%, $220,000 par, due 1/22/2026 (1)231,106 
Equinor ASA2.650%, $1,400,000 par, due 1/15/2024 (1)1,486,870 
Ethiopian Leasing 2012 LLC1.506%, $6,666,667 par, due 10/3/2024 (1)6,784,393 
Ethiopian Leasing 2012 LLC2.566%, $3,530,902 par, due 8/14/2026 (1)3,714,530 
Evergy Metro Inc3.150%, $725,000 par, due 3/15/2023 (1)763,508 
Exxon Mobil Corp1.571%, $1,385,000 par, due 4/15/2023 (1)1,424,333 
Fannie Mae Grantor Trust 2004-T26.000%, $456,338 par, due 11/25/2043 (1)532,918 
Fannie Mae or Freddie Mac2.000%, $46,170,000 par, due 1/1/2036 (1)48,269,304 
Fannie Mae or Freddie Mac1.500%, $2,670,000 par, due 1/1/2036 (1)2,747,179 
Fannie Mae Pool5.000%, $430,521 par, due 6/1/2035 (1)499,660 
Fannie Mae Pool5.500%, $317,425 par, due 9/1/2036 (1)370,185 
Fannie Mae Pool5.500%, $185,366 par, due 4/1/2033 (1)217,341 
Fannie Mae Pool6.000%, $35,899 par, due 2/1/2033 (1)42,494 
Fannie Mae Pool5.500%, $28,215 par, due 1/1/2036 (1)29,802 
Fannie Mae Pool5.500%, $82,818 par, due 2/1/2036 (1)90,404 
Fannie Mae Pool5.000%, $2,288,792 par, due 8/1/2056 (1)2,607,865 
Fannie Mae Pool5.500%, $390 par, due 6/1/2021 (1)391 
Fannie Mae Pool5.500%, $32,679 par, due 11/1/2021 (1)32,961 
Fannie Mae Pool4.000%, $1,394,226 par, due 2/1/2034 (1)1,500,350 
Fannie Mae Pool4.000%, $963,106 par, due 2/1/2034 (1)1,036,967 
Fannie Mae Pool3.000%, $1,965,242 par, due 8/1/2027 (1)2,066,055 
Fannie Mae Pool2.000%, $141,306 par, due 5/1/2023 (1)147,474 
Fannie Mae Pool2.000%, $157,300 par, due 6/1/2023 (1)159,764 
Fannie Mae Pool2.000%, $142,201 par, due 4/1/2023 (1)148,420 
Fannie Mae Pool2.000%, $374,719 par, due 8/1/2023 (1)381,041 
Fannie Mae Pool2.500%, $4,240,787 par, due 12/1/2031 (1)4,431,869 
Fannie Mae Pool3.000%, $1,083,067 par, due 7/1/2034 (1)1,137,234 
Fannie Mae Pool3.000%, $3,145,185 par, due 7/1/2034 (1)3,357,614 
Fannie Mae Pool3.000%, $3,146,760 par, due 4/1/2031 (1)3,371,439 
Fannie Mae Pool3.000%, $392,369 par, due 2/1/2031 (1)420,327 
Fannie Mae Pool3.000%, $273,302 par, due 2/1/2031 (1)292,784 
Fannie Mae Pool3.000%, $163,670 par, due 5/1/2031 (1)175,030 
Fannie Mae Pool2.500%, $4,088,732 par, due 11/1/2027 (1)4,274,291 
Fannie Mae Pool2.500%, $1,398,972 par, due 12/1/2026 (1)1,458,672 
Fannie Mae Pool2.500%, $946,719 par, due 8/1/2027 (1)989,575 
Fannie Mae Pool3.000%, $944,447 par, due 2/1/2027 (1)990,770 
Fannie Mae Pool3.815%, $21,952 par, due 2/1/2041 (1)21,902 
Fannie Mae Pool2.259%, $162,481 par, due 10/1/2041 (1)163,770 
Fannie Mae Pool2.270%, $101,194 par, due 11/1/2041 (1)101,911 
Fannie Mae Pool3.604%, $435,109 par, due 5/1/2036 (1)456,020 
Fannie Mae Pool3.750%, $46,819 par, due 3/1/2042 (1)48,110 
Fannie Mae Pool2.000%, $562,498 par, due 9/1/2023 (1)587,297 
Fannie Mae Pool2.500%, $152,417 par, due 10/1/2023 (1)158,807 
Fannie Mae Pool2.500%, $545,428 par, due 10/1/2024 (1)568,497 
Fannie Mae Pool2.729%, $729,455 par, due 8/1/2044 (1)756,431 
Fannie Mae Pool2.804%, $377,279 par, due 8/1/2044 (1)390,952 
Fannie Mae Pool2.804%, $251,768 par, due 8/1/2044 (1)260,265 
Fannie Mae Pool2.879%, $363,947 par, due 8/1/2044 (1)377,553 
Fannie Mae Pool2.142%, $14,162 par, due 9/1/2044 (1)14,649 
Fannie Mae Pool2.743%, $228,924 par, due 10/1/2044 (1)236,747 
    31    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Fannie Mae Pool3.581%, $423,582 par, due 2/1/2045 (1)$439,363 
Fannie Mae Pool2.497%, $754,120 par, due 4/1/2045 (1)778,976 
Fannie Mae Pool3.559%, $252,562 par, due 4/1/2045 (1)260,956 
Fannie Mae Pool2.280%, $113,623 par, due 8/1/2045 (1)117,447 
Fannie Mae Pool2.620%, $543,133 par, due 8/1/2045 (1)562,950 
Fannie Mae Pool2.491%, $805,783 par, due 8/1/2045 (1)837,011 
Fannie Mae Pool2.615%, $1,042,872 par, due 11/1/2045 (1)1,085,889 
Fannie Mae Pool2.714%, $127,333 par, due 12/1/2045 (1)132,070 
Fannie Mae Pool3.253%, $1,512,792 par, due 5/1/2048 (1)1,576,498 
Fannie Mae Pool3.038%, $3,524,056 par, due 8/1/2049 (1)3,687,583 
Fannie Mae Pool3.704%, $357,209 par, due 10/1/2032 (1)377,649 
Fannie Mae Pool1.903%, $685,559 par, due 11/1/2032 (1)686,234 
Fannie Mae Pool2.585%, $464,763 par, due 7/1/2033 (1)468,911 
Fannie Mae Pool2.145%, $564,218 par, due 6/1/2033 (1)581,866 
Fannie Mae Pool2.063%, $146,380 par, due 8/1/2035 (1)147,633 
Fannie Mae Pool2.065%, $209,808 par, due 8/1/2033 (1)216,579 
Fannie Mae Pool2.049%, $112,022 par, due 8/1/2033 (1)115,621 
Fannie Mae Pool1.867%, $494,263 par, due 10/1/2033 (1)501,028 
Fannie Mae Pool1.889%, $159,580 par, due 12/1/2033 (1)162,038 
Fannie Mae Pool1.853%, $94,879 par, due 3/1/2034 (1)98,485 
Fannie Mae Pool1.800%, $57,540 par, due 5/1/2034 (1)59,739 
Fannie Mae Pool2.074%, $896,588 par, due 6/1/2034 (1)926,702 
Fannie Mae Pool1.971%, $88,085 par, due 8/1/2034 (1)91,093 
Fannie Mae Pool3.405%, $464,869 par, due 5/1/2038 (1)485,872 
Fannie Mae Pool2.484%, $151,065 par, due 5/1/2037 (1)152,606 
Fannie Mae Pool3.346%, $412,048 par, due 11/1/2048 (1)430,675 
Fannie Mae Pool2.765%, $1,577,596 par, due 11/1/2047 (1)1,646,223 
Fannie Mae Pool2.971%, $634,965 par, due 5/1/2047 (1)661,694 
Fannie Mae Pool2.972%, $796,669 par, due 2/1/2048 (1)832,025 
Fannie Mae Pool3.019%, $1,822,445 par, due 8/1/2049 (1)1,907,734 
Fannie Mae Pool2.757%, $4,993,867 par, due 11/1/2049 (1)5,256,944 
Fannie Mae Pool2.851%, $1,367,960 par, due 11/1/2049 (1)1,434,708 
Fannie Mae Pool2.840%, $803,737 par, due 11/1/2049 (1)843,967 
Fannie Mae Pool2.805%, $975,278 par, due 12/1/2049 (1)1,025,373 
Fannie Mae Pool2.664%, $1,862,273 par, due 12/1/2049 (1)1,958,456 
Fannie Mae Pool2.737%, $2,251,913 par, due 12/1/2049 (1)2,371,197 
Fannie Mae Pool2.741%, $6,552,431 par, due 1/1/2050 (1)6,891,192 
Fannie Mae Pool2.748%, $4,357,976 par, due 1/1/2050 (1)4,587,502 
Fannie Mae Pool2.354%, $1,017,005 par, due 10/1/2046 (1)1,052,840 
Fannie Mae Pool2.383%, $1,428,539 par, due 11/1/2046 (1)1,479,888 
Fannie Mae Pool3.082%, $1,406,073 par, due 6/1/2047 (1)1,467,447 
Fannie Mae Pool3.036%, $1,717,377 par, due 6/1/2047 (1)1,792,106 
Fannie Mae Pool3.010%, $1,007,797 par, due 6/1/2047 (1)1,052,532 
Fannie Mae Pool2.839%, $853,612 par, due 7/1/2047 (1)890,361 
Fannie Mae Pool3.059%, $992,008 par, due 7/1/2047 (1)1,036,034 
Fannie Mae Pool2.777%, $1,649,698 par, due 9/1/2047 (1)1,721,920 
Fannie Mae Pool2.667%, $912,043 par, due 9/1/2047 (1)949,600 
Fannie Mae Pool2.351%, $70,534 par, due 6/1/2045 (1)72,984 
Fannie Mae Pool2.604%, $254,849 par, due 7/1/2045 (1)264,693 
Fannie Mae Pool2.708%, $318,852 par, due 4/1/2022 (1)322,585 
Fannie Mae Pool2.600%, $607,002 par, due 1/1/2021 (1)606,762 
Fannie Mae Pool3.410%, $854,566 par, due 11/1/2023 (1)914,167 
Fannie Mae Pool3.120%, $945,000 par, due 1/1/2024 (1)1,010,847 
Fannie Mae Pool2.337%, $669,649 par, due 6/1/2022 (1)674,772 
Fannie Mae REMIC Trust 2002-W125.066%, $11,935 par, due 2/25/2033 (1)11,930 
Fannie Mae REMIC Trust 2003-W116.681%, $34,052 par, due 7/25/2033 (1)38,503 
Fannie Mae REMIC Trust 2004-W117.000%, $498,436 par, due 5/25/2044 (1)574,740 
Fannie Mae REMICS5.500%, $1,450,061 par, due 4/25/2035 (1)1,699,101 
Fannie Mae REMICS5.500%, $1,315,814 par, due 4/25/2035 (1)1,537,378 
Fannie Mae REMICS3.000%, $15,706 par, due 6/25/2038 (1)15,822 
Fannie Mae REMICS4.000%, $66,445 par, due 4/25/2027 (1)68,165 
Fannie Mae REMICS2.500%, $41,763 par, due 3/25/2037 (1)44,083 
Fannie Mae Trust 2003-W66.500%, $167,902 par, due 9/25/2042 (1)197,032 
Fannie Mae Trust 2004-W17.000%, $359,743 par, due 12/25/2033 (1)426,381 
Fannie Mae-Aces2.263%, $219,658 par, due 2/25/2023 (1)221,988 
Fannie Mae-Aces0.641%, $92,178 par, due 4/25/2024 (1)92,245 
Federal Realty Investment Trust1.250%, $810,000 par, due 2/15/2026 (1)824,868 
Federal Realty Investment Trust2.750%, $518,000 par, due 6/1/2023 (1)541,420 
    32    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Federation des Caisses Desjardin du Quebec0.450%, $3,635,000 par, due 10/7/2023 (1)$3,640,482 
FedEx Corp3.800%, $1,170,000 par, due 5/15/2025 (1)1,320,758 
FedEx Corp2.625%, $270,000 par, due 8/1/2022 (1)279,343 
FedEx Corp3.400%, $1,000,000 par, due 1/14/2022 (1)1,031,588 
Fidelity National Information Services Inc3.500%, $1,000,000 par, due 4/15/2023 (1)1,061,250 
Fifth Third Bancorp1.625%, $440,000 par, due 5/5/2023 (1)453,826 
Fifth Third Bancorp3.650%, $220,000 par, due 1/25/2024 (1)239,938 
Fiserv Inc3.800%, $450,000 par, due 10/1/2023 (1)490,138 
Fiserv Inc2.750%, $1,690,000 par, due 7/1/2024 (1)1,814,710 
Florida Power & Light Co2.850%, $700,000 par, due 4/1/2025 (1)761,776 
Florida Water Pollution Control Financing Corp1.900%, $1,580,000 par, due 1/15/2022 (1)1,607,350 
Ford Credit Auto Lease Trust3.190%, $94,111 par, due 12/15/2021 (1)94,194 
Ford Credit Auto Lease Trust 2019-A2.900%, $743,839 par, due 5/15/2022 (1)748,265 
Ford Credit Auto Lease Trust 2019-B2.220%, $5,490,000 par, due 10/15/2022 (1)5,540,799 
Ford Credit Auto Lease Trust 2020-B0.620%, $4,515,000 par, due 8/15/2023 (1)4,534,171 
Ford Credit Auto Owner Tr2.310%, $1,415,000 par, due 8/15/2027 (1)1,418,301 
Ford Credit Auto Owner Tr2.620%, $2,625,000 par, due 8/15/2028 (1)2,691,439 
Ford Credit Auto Owner Trust 2017-REV22.360%, $628,000 par, due 3/15/2029 (1)649,554 
Ford Credit Auto Owner Trust 2018-A3.030%, $1,182,122 par, due 11/15/2022 (1)1,192,679 
Ford Credit Auto Owner Trust 2018-REV23.470%, $761,000 par, due 1/15/2030 (1)816,017 
Ford Credit Auto Owner Trust 2019-C1.870%, $4,040,000 par, due 3/15/2024 (1)4,118,812 
Ford Credit Auto Owner Trust 2020-A1.030%, $2,561,547 par, due 10/15/2022 (1)2,568,646 
Ford Credit Auto Owner Trust 2020-B0.560%, $8,100,000 par, due 10/15/2024 (1)8,135,972 
Ford Motor Credit Co LLC3.470%, $200,000 par, due 4/5/2021 (1)200,000 
Fortune Brands Home & Security Inc4.000%, $67,000 par, due 9/21/2023 (1)73,001 
Fragata Leasing LLC1.732%, $444,313 par, due 9/18/2024 (1)454,185 
Freddie Mac Gold Pool5.500%, $10,174 par, due 11/1/2021 (1)10,225 
Freddie Mac Gold Pool2.500%, $107,216 par, due 7/1/2023 (1)111,730 
Freddie Mac Gold Pool6.000%, $1,580,493 par, due 8/1/2038 (1)1,870,994 
Freddie Mac Gold Pool6.000%, $760,233 par, due 8/1/2038 (1)900,454 
Freddie Mac Gold Pool5.500%, $120,913 par, due 12/1/2033 (1)136,866 
Freddie Mac Gold Pool3.000%, $1,688,477 par, due 8/1/2027 (1)1,772,947 
Freddie Mac Gold Pool3.000%, $354,948 par, due 10/1/2026 (1)379,071 
Freddie Mac Multifam Struct PT Cert0.853%, $54,787 par, due 9/25/2022 (1)54,854 
Freddie Mac Multifam Struct PT Cert0.803%, $34,928 par, due 1/25/2023 (1)34,974 
Freddie Mac Multifam Struct PT Cert2.615%, $11,470,000 par, due 1/25/2023 (1)11,992,367 
Freddie Mac Multifam Struct PT Cert2.779%, $628,790 par, due 1/25/2046 (1)628,666 
Freddie Mac Multifam Struct PT Cert2.791%, $2,500,000 par, due 1/25/2022 (1)2,550,583 
Freddie Mac Non Gold Pool2.581%, $109,797 par, due 6/1/2045 (1)113,840 
Freddie Mac Non Gold Pool2.570%, $986,609 par, due 5/1/2045 (1)1,023,253 
Freddie Mac Non Gold Pool3.699%, $465,211 par, due 4/1/2038 (1)491,318 
Freddie Mac Non Gold Pool3.564%, $50,893 par, due 5/1/2038 (1)53,321 
Freddie Mac Non Gold Pool2.875%, $368,559 par, due 5/1/2047 (1)383,687 
Freddie Mac Non Gold Pool2.980%, $273,880 par, due 8/1/2047 (1)285,589 
Freddie Mac Non Gold Pool2.547%, $542,842 par, due 10/1/2047 (1)566,112 
Freddie Mac Non Gold Pool2.864%, $235,901 par, due 7/1/2047 (1)245,752 
Freddie Mac Non Gold Pool2.971%, $1,785,675 par, due 6/1/2047 (1)1,860,736 
Freddie Mac Non Gold Pool2.539%, $174,405 par, due 11/1/2046 (1)181,131 
Freddie Mac Non Gold Pool2.196%, $1,983,732 par, due 1/1/2047 (1)2,054,174 
Freddie Mac Non Gold Pool2.267%, $189,098 par, due 10/1/2046 (1)195,900 
Freddie Mac Non Gold Pool2.381%, $3,372,242 par, due 10/1/2046 (1)3,490,736 
Freddie Mac Non Gold Pool2.451%, $1,475,597 par, due 10/1/2046 (1)1,528,622 
Freddie Mac Non Gold Pool2.541%, $390,003 par, due 9/1/2037 (1)411,153 
Freddie Mac Non Gold Pool1.890%, $48,472 par, due 6/1/2036 (1)48,651 
Freddie Mac Non Gold Pool2.318%, $231,626 par, due 8/1/2035 (1)232,747 
Freddie Mac Non Gold Pool3.602%, $1,205,562 par, due 5/1/2048 (1)1,258,705 
Freddie Mac Non Gold Pool2.821%, $839,592 par, due 11/1/2047 (1)875,381 
Freddie Mac Non Gold Pool3.147%, $2,644,737 par, due 7/1/2049 (1)2,761,344 
Freddie Mac Non Gold Pool2.719%, $3,925,809 par, due 11/1/2045 (1)4,073,454 
Freddie Mac Non Gold Pool2.684%, $42,465 par, due 1/1/2041 (1)44,238 
Freddie Mac Non Gold Pool3.531%, $54,378 par, due 2/1/2042 (1)56,603 
Freddie Mac Non Gold Pool2.450%, $1,182,703 par, due 2/1/2046 (1)1,219,556 
Freddie Mac Non Gold Pool2.368%, $527,685 par, due 12/1/2042 (1)545,664 
Freddie Mac Non Gold Pool2.661%, $228,015 par, due 8/1/2045 (1)236,579 
Freddie Mac Non Gold Pool2.130%, $155,389 par, due 10/1/2045 (1)160,335 
Freddie Mac Non Gold Pool2.632%, $1,169,328 par, due 11/1/2045 (1)1,212,252 
Freddie Mac Non Gold Pool2.227%, $169,751 par, due 9/1/2045 (1)176,200 
Freddie Mac Non Gold Pool2.379%, $1,713,641 par, due 7/1/2045 (1)1,771,679 
    33    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Freddie Mac Non Gold Pool2.344%, $94,252 par, due 8/1/2045 (1)$97,513 
Freddie Mac Non Gold Pool2.413%, $2,890,612 par, due 8/1/2045 (1)2,993,512 
Freddie Mac Non Gold Pool2.723%, $525,791 par, due 12/1/2044 (1)546,410 
Freddie Mac Non Gold Pool2.582%, $417,882 par, due 1/1/2045 (1)433,414 
Freddie Mac Non Gold Pool2.808%, $137,070 par, due 5/1/2042 (1)137,979 
Freddie Mac Non Gold Pool2.625%, $28,884 par, due 6/1/2042 (1)28,918 
Freddie Mac Non Gold Pool2.655%, $56,971 par, due 6/1/2042 (1)59,169 
Freddie Mac Non Gold Pool2.613%, $73,026 par, due 7/1/2042 (1)76,083 
Freddie Mac Non Gold Pool2.500%, $29,629 par, due 8/1/2042 (1)29,651 
Freddie Mac Non Gold Pool2.371%, $288,111 par, due 9/1/2042 (1)298,992 
Freddie Mac Non Gold Pool2.285%, $310,819 par, due 8/1/2043 (1)322,047 
Freddie Mac Non Gold Pool2.113%, $733,732 par, due 10/1/2043 (1)758,313 
Freddie Mac Non Gold Pool3.350%, $297,130 par, due 5/1/2044 (1)308,418 
Freddie Mac Non Gold Pool2.687%, $397,784 par, due 8/1/2044 (1)411,994 
Freddie Mac Pool3.000%, $2,589,046 par, due 7/1/2034 (1)2,716,176 
Freddie Mac Pool3.000%, $5,308,757 par, due 1/1/2035 (1)5,655,175 
Freddie Mac REMICS3.500%, $27,032 par, due 4/15/2041 (1)27,637 
Freddie Mac REMICS3.000%, $28,522 par, due 12/15/2044 (1)30,652 
Freddie Mac Struct PT Cert5.231%, $2,291,790 par, due 5/25/2043 (1)2,653,928 
General Dynamics Corp3.250%, $1,410,000 par, due 4/1/2025 (1)1,556,902 
General Mills Inc2.600%, $775,000 par, due 10/12/2022 (1)804,063 
General Mills Inc3.200%, $779,000 par, due 4/16/2021 (1)784,978 
General Mills Inc3.700%, $480,000 par, due 10/17/2023 (1)522,760 
General Motors Financial Co Inc4.200%, $1,080,000 par, due 11/6/2021 (1)1,113,174 
General Motors Financial Co Inc3.550%, $750,000 par, due 7/8/2022 (1)782,224 
Georgia-Pacific LLC1.750%, $1,755,000 par, due 9/30/2025 (1)1,834,856 
Georgia-Pacific LLC3.163%, $225,000 par, due 11/15/2021 (1)229,217 
GlaxoSmithKline Capital PLC0.534%, $860,000 par, due 10/1/2023 (1)862,544 
Gilead Sciences Inc0.750%, $990,000 par, due 9/29/2023 (1)993,009 
Ginnie Mae II pool4.740%, $908 par, due 6/20/2061 (1)1,055 
Ginnie Mae II pool3.125%, $175,083 par, due 10/20/2045 (1)181,296 
Ginnie Mae II pool3.125%, $29,616 par, due 12/20/2045 (1)30,579 
Ginnie Mae II pool3.000%, $80,548 par, due 3/20/2042 (1)83,668 
Ginnie Mae II pool2.875%, $269,916 par, due 4/20/2042 (1)280,806 
Ginnie Mae II Pool3.919%, $23,704 par, due 12/20/2066 (1)24,263 
Ginnie Mae II Pool3.917%, $10,551 par, due 1/20/2067 (1)10,798 
Ginnie Mae II pool1.520%, $375,478 par, due 6/20/2058 (1)381,507 
Ginnie Mae II pool5.470%, $2,184 par, due 8/20/2059 (1)2,241 
Ginnie Mae II pool0.770%, $3,427,001 par, due 5/20/2058 (1)3,469,386 
GlaxoSmithKline Capital Inc3.375%, $1,218,000 par, due 5/15/2023 (1)1,304,920 
GlaxoSmithKline Capital PLC2.850%, $740,000 par, due 5/8/2022 (1)765,341 
GM Fin Consumer Auto Recv Tr 2017-3A1.970%, $155,859 par, due 5/16/2022 (1)156,112 
GM Fin Consumer Auto Recv Tr 2018-12.320%, $575,897 par, due 7/18/2022 (1)578,491 
GM Fin Consumer Auto Recv Tr 2018-22.810%, $1,273,252 par, due 12/16/2022 (1)1,285,493 
GM Financial Automobile Leasing Trust 2019-12.980%, $809,344 par, due 12/20/2021 (1)812,814 
GM Financial Automobile Leasing Trust 2020-20.710%, $4,842,008 par, due 10/20/2022 (1)4,857,478 
GM Financial Automobile Leasing Trust 2020-30.450%, $4,545,000 par, due 8/21/2023 (1)4,556,299 
GM Financial Consumer Auto Rec Trust 2020-30.450%, $11,020,000 par, due 4/16/2025 (1)11,064,267 
GM Financial Consumer Automobile Rec Trust 2019-32.180%, $2,110,000 par, due 4/16/2024 (1)2,144,136 
GM Financial Consumer Automobile Rec Trust 2020-11.840%, $2,675,000 par, due 9/16/2024 (1)2,732,943 
GM Financial Consumer Automobile Receivables Trust1.500%, $2,577,720 par, due 3/16/2023 (1)2,589,067 
GNMA1.140%, $3,131,194 par, due 12/20/2066 (1)3,197,122 
GNMA0.790%, $3,021,782 par, due 10/20/2065 (1)3,044,729 
Goldman Sachs Group Inc/The0.627%, $790,000 par, due 11/17/2023 (1)793,196 
Goldman Sachs Group Inc/The5.750%, $945,000 par, due 1/24/2022 (1)998,861 
Goldman Sachs Group Inc/The3.500%, $1,000,000 par, due 1/23/2025 (1)1,103,659 
Goldman Sachs Group Inc/The2.875%, $511,000 par, due 2/25/2021 (1)511,951 
Goldman Sachs Group Inc/The2.625%, $171,000 par, due 4/25/2021 (1)171,889 
Goldman Sachs Group Inc/The3.000%, $2,094,000 par, due 4/26/2022 (1)2,110,991 
Goldman Sachs Group Inc/The1.215%, $179,000 par, due 7/24/2023 (1)180,601 
Goldman Sachs Group Inc/The3.272%, $1,445,000 par, due 9/29/2025 (1)1,582,889 
Goldman Sachs Group Inc/The2.876%, $1,321,000 par, due 10/31/2022 (1)1,347,810 
Goldman Sachs Group Inc/The3.625%, $1,147,000 par, due 2/20/2024 (1)1,248,297 
Government National Mortgage Association1.040%, $1,478,656 par, due 1/20/2066 (1)1,502,864 
Green Bay Area Public School District2.050%, $2,040,000 par, due 4/1/2023 (1)2,114,725 
GS Mortgage Securities Corp II2.943%, $6,800,000 par, due 2/10/2046 (1)7,056,272 
GS Mortgage Securities Trust 2012-GCJ92.368%, $1,123,971 par, due 11/10/2045 (1)1,137,841 
GS Mortgage Securities Trust 2012-GCJ92.773%, $3,522,276 par, due 11/10/2045 (1)3,626,704 
    34    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
GS Mortgage Securities Trust 2013-GC164.271%, $576,000 par, due 11/10/2046 (1)$628,208 
GSMS 2012-GCJ7 A4 9.2-Yr CMBS3.377%, $942,617 par, due 5/10/2045 (1)954,183 
Guardian Life Global Funding3.400%, $327,000 par, due 4/25/2023 (1)349,311 
Guardian Life Global Funding2.500%, $301,000 par, due 5/8/2022 (1)310,222 
Halliburton Co3.500%, $18,000 par, due 8/1/2023 (1)19,233 
Harlandale Independent School District5.000%, $1,880,000 par, due 8/15/2022 (1)2,019,571 
Health Care Service Corp A Mutual Legal Reserve Co1.500%, $1,490,000 par, due 6/1/2025 (1)1,529,346 
Hewlett Packard Enterprise Co3.500%, $1,170,000 par, due 10/5/2021 (1)1,194,710 
Hewlett Packard Enterprise Co2.250%, $950,000 par, due 4/1/2023 (1)984,615 
Hewlett Packard Enterprise Co4.450%, $1,435,000 par, due 10/2/2023 (1)1,578,621 
Hewlett Packard Enterprise Co0.974%, $616,000 par, due 10/5/2021 (1)616,089 
HNA 2015 LLC2.291%, $1,903,774 par, due 6/30/2027 (1)2,012,780 
Honda Auto Receivables 2018-2 Owner Trust3.010%, $1,014,770 par, due 5/18/2022 (1)1,023,230 
Honda Auto Receivables 2019-4 Owner Trust1.830%, $3,085,000 par, due 1/18/2024 (1)3,147,777 
Honda Auto Receivables 2020-2 Owner Trust0.820%, $5,860,000 par, due 7/15/2024 (1)5,917,170 
Honda Auto Receivables 2020-3 Owner Trust0.370%, $4,365,000 par, due 10/18/2024 (1)4,372,381 
Honeywell International Inc1.350%, $550,000 par, due 6/1/2025 (1)569,848 
HPEFS Equipment Trust0.690%, $4,810,000 par, due 7/22/2030 (1)4,828,528 
HSBC Holdings PLC1.589%, $1,560,000 par, due 5/24/2027 (1)1,586,391 
HSBC Holdings PLC2.099%, $580,000 par, due 6/4/2026 (1)602,703 
HSBC Holdings PLC3.600%, $1,300,000 par, due 5/25/2023 (1)1,398,296 
HSBC Holdings PLC1.220%, $770,000 par, due 5/18/2024 (1)775,104 
HSBC Holdings PLC3.950%, $229,000 par, due 5/18/2024 (1)247,015 
HSBC Holdings PLC3.262%, $587,000 par, due 3/13/2023 (1)606,339 
HSBC Holdings PLC3.803%, $238,000 par, due 3/11/2025 (1)259,854 
Huntington National Bank/The3.550%, $319,000 par, due 10/6/2023 (1)345,380 
Hyundai Auto Lease Securitization Trust 2019-A2.980%, $1,448,166 par, due 7/15/2022 (1)1,457,098 
Hyundai Auto Receivables Trust 2018-A2.790%, $371,028 par, due 7/15/2022 (1)373,443 
Hyundai Auto Receivables Trust 2020-A1.410%, $4,625,000 par, due 11/15/2024 (1)4,723,869 
Hyundai Auto Receivables Trust 2020-B0.480%, $5,995,000 par, due 12/16/2024 (1)6,020,155 
IBM Credit LLC3.000%, $387,000 par, due 2/6/2023 (1)409,842 
Illinois Tool Works Inc3.500%, $660,000 par, due 3/1/2024 (1)718,123 
Intel Corp3.400%, $2,855,000 par, due 3/25/2025 (1)3,174,948 
International Business Machines Corp3.000%, $418,000 par, due 5/15/2024 (1)452,811 
Iowa Stud Ln Liq Co0.395%, $918,712 par, due 9/25/2037 (1)896,444 
Jackson National Life Global Funding2.375%, $870,000 par, due 9/15/2022 (1)899,344 
Jackson National Life Global Funding3.300%, $690,000 par, due 2/1/2022 (1)711,902 
John Deere Capital Corp2.700%, $164,000 par, due 1/6/2023 (1)171,912 
John Deere Owner Trust 20182.660%, $292,129 par, due 4/18/2022 (1)292,862 
John Deere Owner Trust 2019-A2.910%, $1,439,500 par, due 7/17/2023 (1)1,467,059 
John Deere Owner Trust 2019-B2.210%, $1,565,000 par, due 12/15/2023 (1)1,595,205 
John Deere Owner Trust 20201.100%, $3,220,000 par, due 8/15/2024 (1)3,260,398 
John Deere Owner Trust 2020-B0.510%, $3,260,000 par, due 11/15/2024 (1)3,270,481 
JPMBB Comml Mtg Sec Tr3.157%, $710,413 par, due 7/15/2045 (1)722,641 
JPMBB Comml Mtg Sec Tr3.761%, $920,637 par, due 8/15/2046 (1)956,573 
JPMorgan Chase & Co3.797%, $99,000 par, due 7/23/2024 (1)107,391 
JPMorgan Chase & Co3.220%, $870,000 par, due 3/1/2025 (1)938,144 
JPMorgan Chase & Co3.207%, $1,960,000 par, due 4/1/2023 (1)2,031,173 
JPMorgan Chase & Co4.023%, $1,280,000 par, due 12/5/2024 (1)1,410,084 
JPMorgan Chase & Co1.514%, $3,380,000 par, due 6/1/2024 (1)3,470,229 
JPMorgan Chase & Co1.099%, $670,000 par, due 7/23/2024 (1)678,941 
JPMorgan Chase & Co2.776%, $139,000 par, due 4/25/2023 (1)143,495 
JPMorgan Chase Comml Mtg Sec Tr3.414%, $266,226 par, due 1/15/2046 (1)275,154 
JPMorgan Chase Comml Mtg Sec Tr4.166%, $630,000 par, due 12/15/2046 (1)684,201 
JPMorgan Chase Comml Mtg Sec Tr 2013-C133.994%, $3,604,579 par, due 1/15/2046 (1)3,863,453 
JPMorgan Comm Mtg Sec Tr3.144%, $114,949 par, due 5/15/2045 (1)116,779 
JPMorgan Comm Mtg Sec Tr4.388%, $970,630 par, due 7/15/2046 (1)977,632 
JPMorgan Comm Mtg Sec Tr3.483%, $870,712 par, due 6/15/2045 (1)884,435 
JPMorgan Comm Mtg Sec Tr1.453%, $325,250 par, due 6/15/2045 (1)325,597 
Kaiser Foundation Hospitals3.500%, $3,675,000 par, due 4/1/2022 (1)3,817,090 
Keller Independent School District/TX0.000%, $3,305,000 par, due 2/15/2025 (1)3,205,090 
KeyBank NA/Cleveland OH1.250%, $1,820,000 par, due 3/10/2023 (1)1,855,650 
KeyBank NA/Cleveland OH3.300%, $530,000 par, due 2/1/2022 (1)546,956 
Kubota Credit Owner Trust 2018-13.100%, $480,893 par, due 8/15/2022 (1)486,072 
Lake Central Multi-District School Building Corp0.983%, $1,000,000 par, due 1/15/2025 (1)1,020,050 
Lake Central Multi-District School Building Corp1.053%, $1,200,000 par, due 7/15/2025 (1)1,230,600 
Leland Stanford Junior Uni Board of Trustees6.875%, $1,185,000 par, due 2/1/2024 (1)1,401,200 
Lincoln Airport Authority2.123%, $500,000 par, due 7/1/2022 (1)512,535 
    35    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Lincoln Airport Authority2.303%, $500,000 par, due 7/1/2023 (1)$522,105 
Lincoln Airport Authority1.911%, $710,000 par, due 7/1/2021 (1)715,275 
Los Angeles Community College District/CA0.673%, $1,430,000 par, due 8/1/2024 (1)1,442,384 
Lowe's Cos Inc4.000%, $370,000 par, due 4/15/2025 (1)420,398 
M&T Bank Corp0.895%, $512,000 par, due 7/26/2023 (1)516,613 
Manufacturers & Traders Trust Co0.830%, $1,870,000 par, due 5/18/2022 (1)1,882,963 
Marathon Petroleum Corp4.500%, $655,000 par, due 5/1/2023 (1)711,216 
Marathon Petroleum Corp5.125%, $1,500,000 par, due 3/1/2021 (1)1,510,610 
Marathon Petroleum Corp4.750%, $1,100,000 par, due 12/15/2023 (1)1,217,707 
Marsh & McLennan Cos Inc3.300%, $800,000 par, due 3/14/2023 (1)846,966 
Marsh & McLennan Cos Inc3.875%, $420,000 par, due 3/15/2024 (1)463,242 
Marsh & McLennan Cos Inc2.750%, $225,000 par, due 1/30/2022 (1)230,349 
Massachusetts Water Resources Authority1.772%, $500,000 par, due 8/1/2023 (1)518,890 
MassMutual Global Funding II0.850%, $520,000 par, due 6/9/2023 (1)526,355 
MassMutual Global Funding II2.250%, $1,842,000 par, due 7/1/2022 (1)1,894,037 
Maxim Integrated Products Inc3.375%, $94,000 par, due 3/15/2023 (1)98,958 
McCormick & Co Inc/MD2.700%, $2,797,000 par, due 8/15/2022 (1)2,895,619 
McCormick & Co Inc/MD3.900%, $451,000 par, due 7/15/2021 (1)455,412 
McDonald's Corp3.350%, $886,000 par, due 4/1/2023 (1)943,834 
McDonald's Corp3.300%, $690,000 par, due 7/1/2025 (1)768,361 
Mercedes-Benz Auto Lease Trust 2018-B3.210%, $389,757 par, due 9/15/2021 (1)390,483 
Mercedes-Benz Auto Lease Trust 2019-A3.100%, $732,235 par, due 11/15/2021 (1)735,249 
Mercedes-Benz Auto Lease Trust 2020-A1.840%, $3,010,000 par, due 12/15/2022 (1)3,052,053 
Mercedes-Benz Auto Receivables Trust 2018-13.030%, $310,269 par, due 1/17/2023 (1)313,752 
Mercedes-Benz Auto Receivables Trust 2020-10.550%, $5,065,000 par, due 2/18/2025 (1)5,091,191 
METLIFE SECURITIZATION TRUST 2019-13.750%, $274,570 par, due 4/25/2058 (1)294,331 
Metropolitan Life Global Funding I3.000%, $320,000 par, due 1/10/2023 (1)337,354 
Metropolitan Life Global Funding I3.600%, $260,000 par, due 1/11/2024 (1)283,105 
Microchip Technology Inc3.922%, $815,000 par, due 6/1/2021 (1)826,572 
Microchip Technology Inc4.333%, $220,000 par, due 6/1/2023 (1)238,153 
Mill City Mortgage Loan Trust 2017-12.750%, $396,446 par, due 11/25/2058 (1)402,481 
Mitsubishi UFJ Financial Group Inc2.665%, $193,000 par, due 7/25/2022 (1)199,680 
Mitsubishi UFJ Financial Group Inc3.455%, $99,000 par, due 3/2/2023 (1)105,484 
Mitsubishi UFJ Financial Group Inc3.535%, $1,561,000 par, due 7/26/2021 (1)1,589,307 
Mitsubishi UFJ Financial Group Inc3.761%, $139,000 par, due 7/26/2023 (1)150,697 
Mitsubishi UFJ Financial Group Inc3.218%, $2,010,000 par, due 3/7/2022 (1)2,078,298 
Mitsubishi UFJ Financial Group Inc1.412%, $1,260,000 par, due 7/17/2025 (1)1,294,416 
Mitsubishi UFJ Financial Group Inc0.848%, $1,480,000 par, due 9/15/2024 (1)1,488,825 
Mitsubishi UFJ Financial Group Inc1.075%, $300,000 par, due 7/26/2023 (1)303,255 
MMAF Equipment Finance LLC 2016-A1.760%, $530,823 par, due 1/17/2023 (1)532,945 
MMAF Equipment Finance LLC 2017-A2.410%, $342,111 par, due 8/16/2024 (1)345,907 
MMAF Equipment Finance LLC 2018-A3.200%, $2,671,006 par, due 9/12/2022 (1)2,697,881 
MMAF Equipment Finance LLC 2019-A2.840%, $1,435,000 par, due 11/13/2023 (1)1,470,380 
MMAF Equipment Finance LLC 2019-B2.010%, $4,385,000 par, due 12/12/2024 (1)4,513,524 
MMAF Equipment Finance LLC 2020-A0.970%, $4,125,000 par, due 4/9/2027 (1)4,165,029 
MO State Higher Ed Std Asst1.152%, $867,339 par, due 5/20/2030 (1)868,723 
Mondelez International Holdings Netherlands BV2.125%, $1,225,000 par, due 9/19/2022 (1)1,260,093 
Mondelez International Inc2.125%, $215,000 par, due 4/13/2023 (1)223,309 
Monongahela Power Co4.100%, $1,103,000 par, due 4/15/2024 (1)1,188,390 
Morgan Stanley2.625%, $1,753,000 par, due 11/17/2021 (1)1,787,601 
Morgan Stanley3.750%, $2,000,000 par, due 2/25/2023 (1)2,144,342 
Morgan Stanley3.875%, $757,000 par, due 4/29/2024 (1)838,618 
Morgan Stanley2.750%, $153,000 par, due 5/19/2022 (1)158,007 
Morgan Stanley1.146%, $1,246,000 par, due 7/22/2022 (1)1,251,345 
Morgan Stanley3.125%, $800,000 par, due 1/23/2023 (1)844,296 
Morgan Stanley BAML Trust3.824%, $164,125 par, due 10/15/2046 (1)170,646 
Morgan Stanley BAML Trust 2014-C154.051%, $945,000 par, due 4/15/2047 (1)1,032,462 
Morgan Stanley Barclays Bank Trust2.200%, $1,400,000 par, due 9/13/2031 (1)1,398,190 
MPLX LP3.375%, $730,000 par, due 3/15/2023 (1)773,139 
National Australia Bank Ltd/New York3.700%, $700,000 par, due 11/4/2021 (1)719,957 
Navient Student Loan Trust 2016-30.998%, $1,712 par, due 6/25/2065 (1)1,712 
Navient Student Loan Trust 2016-60.898%, $1,358,987 par, due 3/25/2066 (1)1,361,681 
NC State Edu Asst Auth0.648%, $79,145 par, due 12/26/2039 (1)78,725 
New York Life Global Funding2.875%, $1,940,000 par, due 4/10/2024 (1)2,085,034 
New York Life Global Funding0.750%, $738,000 par, due 6/10/2022 (1)742,517 
NextEra Energy Capital Holdings Inc2.403%, $1,500,000 par, due 9/1/2021 (1)1,520,625 
NextEra Energy Capital Holdings Inc3.150%, $171,000 par, due 4/1/2024 (1)184,850 
NextEra Energy Capital Holdings Inc2.900%, $1,400,000 par, due 4/1/2022 (1)1,444,647 
    36    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
NIKE Inc2.400%, $615,000 par, due 3/27/2025 (1)$662,781 
Nissan Auto Lease Trust 2019-B2.270%, $2,555,000 par, due 7/15/2022 (1)2,576,309 
Nissan Auto Lease Trust 2020-A1.840%, $6,085,000 par, due 1/17/2023 (1)6,176,963 
Nissan Auto Lease Trust 2020-B0.430%, $4,835,000 par, due 10/16/2023 (1)4,841,943 
Nissan Auto Receivables 2018-B Owner Trust3.060%, $371,503 par, due 3/15/2023 (1)376,606 
Nissan Auto Receivables 2019-A Owner Trust2.900%, $2,673,655 par, due 10/16/2023 (1)2,723,856 
Nissan Auto Receivables 2019-C Owner Trust1.930%, $4,645,000 par, due 7/15/2024 (1)4,739,735 
Nissan Auto Receivables 2020-B Owner Trust0.550%, $3,810,000 par, due 7/15/2024 (1)3,825,754 
North Carolina State Education Assistance Auth0.950%, $3,025,542 par, due 7/25/2039 (1)3,020,611 
North TX Highed Ed Auth1.155%, $1,793,196 par, due 12/1/2034 (1)1,803,560 
Northern States Power Co/MN2.600%, $277,000 par, due 5/15/2023 (1)288,540 
Northrop Grumman Corp2.550%, $2,699,000 par, due 10/15/2022 (1)2,801,335 
Northstar Edu Fin Inc0.848%, $1,319,832 par, due 12/26/2031 (1)1,323,996 
Nutrien Ltd1.900%, $910,000 par, due 5/13/2023 (1)939,981 
Oklahoma Water Resources Board0.700%, $1,610,000 par, due 10/1/2024 (1)1,613,413 
Oklahoma Water Resources Board1.884%, $2,565,000 par, due 4/1/2024 (1)2,675,244 
Oncor Electric Delivery Co LLC2.750%, $1,628,000 par, due 6/1/2024 (1)1,746,007 
Oracle Corp2.500%, $2,380,000 par, due 4/1/2025 (1)2,557,926 
Oracle Corp2.625%, $2,436,000 par, due 2/15/2023 (1)2,549,793 
Otis Worldwide Corp2.056%, $670,000 par, due 4/5/2025 (1)710,095 
Otis Worldwide Corp0.704%, $1,030,000 par, due 4/5/2023 (1)1,030,244 
PA State Higher Ed Asst0.698%, $109,483 par, due 4/25/2030 (1)108,344 
PA State Higher Ed Asst1.315%, $410,502 par, due 1/25/2028 (1)413,527 
PACCAR Financial Corp2.650%, $350,000 par, due 4/6/2023 (1)368,736 
PACCAR Financial Corp2.300%, $173,000 par, due 8/10/2022 (1)178,806 
Pacific Life Global Funding II0.500%, $750,000 par, due 9/23/2023 (1)751,994 
PacifiCorp2.950%, $640,000 par, due 6/1/2023 (1)675,066 
PacifiCorp3.600%, $225,000 par, due 4/1/2024 (1)245,133 
Packaging Corp of America4.500%, $337,000 par, due 11/1/2023 (1)371,638 
Packaging Corp of America3.650%, $1,695,000 par, due 9/15/2024 (1)1,857,218 
Parker-Hannifin Corp3.500%, $630,000 par, due 9/15/2022 (1)661,640 
Parker-Hannifin Corp2.700%, $456,000 par, due 6/14/2024 (1)489,057 
PayPal Holdings Inc1.350%, $560,000 par, due 6/1/2023 (1)573,392 
PeaceHealth Obligated Group1.375%, $455,000 par, due 11/15/2025 (1)464,408 
PepsiCo Inc2.250%, $100,000 par, due 3/19/2025 (1)106,819 
Petroleos Mexicanos0.652%, $1,470,625 par, due 2/15/2024 (1)1,472,550 
Petroleos Mexicanos0.587%, $445,500 par, due 4/15/2025 (1)446,227 
Petroleos Mexicanos1.950%, $1,580,000 par, due 12/20/2022 (1)1,608,903 
Petroleos Mexicanos1.700%, $2,000,000 par, due 12/20/2022 (1)2,024,242 
PHEAA Student Loan Trust 2013-10.648%, $917,075 par, due 11/25/2036 (1)891,602 
PHEAA Student Loan Trust 2016-11.298%, $1,074,159 par, due 9/25/2065 (1)1,091,247 
Phillips 660.900%, $830,000 par, due 2/15/2024 (1)832,010 
Phillips 660.833%, $405,000 par, due 2/26/2021 (1)405,047 
Phillips 663.700%, $365,000 par, due 4/6/2023 (1)390,908 
Phillips 663.850%, $365,000 par, due 4/9/2025 (1)409,460 
PNC Bank NA3.500%, $250,000 par, due 6/8/2023 (1)268,379 
PNC Bank NA2.028%, $2,130,000 par, due 12/9/2022 (1)2,162,723 
PNC Bank NA2.232%, $1,550,000 par, due 7/22/2022 (1)1,566,542 
Pomona Redevelopment Agency Successor Agency3.406%, $425,000 par, due 2/1/2021 (1)425,829 
Pomona Redevelopment Agency Successor Agency3.632%, $400,000 par, due 2/1/2023 (1)421,704 
Portland Community College District0.572%, $3,445,000 par, due 6/15/2024 (1)3,452,476 
Premier Air Leasing EXIN3.576%, $57,084 par, due 2/6/2022 (1)58,029 
Providence Health & Services Obligated Group4.379%, $1,225,000 par, due 10/1/2023 (1)1,346,864 
PSNH Funding LLC 33.094%, $1,392,280 par, due 2/1/2026 (1)1,449,528 
Public Service Co of Colorado2.250%, $1,680,000 par, due 9/15/2022 (1)1,719,661 
Public Service Co of Colorado2.500%, $750,000 par, due 3/15/2023 (1)776,763 
Public Service Electric and Gas Co3.250%, $2,195,000 par, due 9/1/2023 (1)2,350,233 
Public Service Electric and Gas Co2.375%, $2,050,000 par, due 5/15/2023 (1)2,141,553 
Raytheon Technologies Corp3.650%, $33,000 par, due 8/16/2023 (1)35,580 
Raytheon Technologies Corp3.200%, $330,000 par, due 3/15/2024 (1)356,429 
Realty Income Corp3.250%, $663,000 par, due 10/15/2022 (1)691,208 
Reckitt Benckiser Treasury Services PLC2.750%, $1,240,000 par, due 6/26/2024 (1)1,326,137 
Reckitt Benckiser Treasury Services PLC2.375%, $979,000 par, due 6/24/2022 (1)1,006,760 
Regions Financial Corp2.250%, $500,000 par, due 5/18/2025 (1)530,239 
Regions Financial Corp3.800%, $790,000 par, due 8/14/2023 (1)856,995 
Reliance Industries Ltd2.512%, $2,373,250 par, due 1/15/2026 (1)2,485,813 
Reliance Industries Ltd2.444%, $3,473,684 par, due 1/15/2026 (1)3,633,727 
Reliance Industries Ltd1.870%, $210,158 par, due 1/15/2026 (1)216,696 
    37    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
RELX Capital Inc3.500%, $1,410,000 par, due 3/16/2023 (1)$1,499,637 
RI State Std Ln Authority0.805%, $452,821 par, due 9/1/2036 (1)452,581 
Rockwall Independent School District4.000%, $2,000,000 par, due 2/15/2025 (1)2,283,760 
Roper Technologies Inc1.000%, $570,000 par, due 9/15/2025 (1)576,878 
Roper Technologies Inc0.450%, $710,000 par, due 8/15/2022 (1)711,152 
Roper Technologies Inc2.350%, $440,000 par, due 9/15/2024 (1)469,558 
Roper Technologies Inc3.650%, $765,000 par, due 9/15/2023 (1)830,058 
Royal Bank of Canada1.950%, $1,840,000 par, due 1/17/2023 (1)1,900,170 
Royal Bank of Canada3.350%, $2,240,000 par, due 10/22/2021 (1)2,294,636 
Royal Bank of Canada2.300%, $1,479,000 par, due 3/22/2021 (1)1,485,657 
Royal Bank of Canada3.700%, $1,439,000 par, due 10/5/2023 (1)1,568,968 
Royal Bank of Canada0.914%, $1,300,000 par, due 10/5/2023 (1)1,312,974 
Ryder System Inc2.875%, $1,060,000 par, due 6/1/2022 (1)1,094,985 
Ryder System Inc3.650%, $292,000 par, due 3/18/2024 (1)319,076 
Salvation Army/United States3.140%, $255,000 par, due 9/1/2021 (1)258,925 
Salvation Army/United States3.396%, $230,000 par, due 9/1/2023 (1)247,844 
San Diego Gas & Electric Co1.914%, $157,719 par, due 2/1/2022 (1)158,555 
San Ramon Valley Unified School District/CA0.580%, $2,690,000 par, due 8/1/2024 (1)2,700,626 
SANFORD HEALTH2.396%, $1,250,000 par, due 11/1/2023 (1)1,307,050 
SANFORD HEALTH2.496%, $1,345,000 par, due 11/1/2024 (1)1,427,556 
Santa Ana Community Redevelopment Agency3.467%, $780,000 par, due 9/1/2022 (1)820,973 
Santa Monica Community College District3.254%, $430,000 par, due 8/1/2025 (1)483,505 
Santander Retail Auto Lease Trust 2019-B2.290%, $1,633,425 par, due 4/20/2022 (1)1,642,719 
Santander Retail Auto Lease Trust 2019-C1.860%, $2,910,000 par, due 2/21/2023 (1)2,964,062 
Santander Retail Auto Lease Trust 2020-A1.740%, $5,560,000 par, due 7/20/2023 (1)5,682,720 
Santander Retail Auto Lease Trust 2020-B0.570%, $5,075,000 par, due 4/22/2024 (1)5,091,504 
Sayarra Ltd2.575%, $103,418 par, due 4/14/2022 (1)104,978 
SBA Small Business Investment Cos3.644%, $26,936 par, due 9/10/2023 (1)27,327 
SBA Small Business Investment Cos2.517%, $373,206 par, due 3/10/2025 (1)385,489 
SBA Small Business Investment Cos2.829%, $3,374,963 par, due 9/10/2025 (1)3,553,323 
SBA Small Business Investment Cos2.507%, $1,727,891 par, due 3/10/2026 (1)1,806,676 
SC State Std Ln Corp0.905%, $554,336 par, due 5/1/2030 (1)554,027 
SC State Std Ln Corp0.648%, $738,140 par, due 1/25/2041 (1)733,136 
Schlumberger Finance Canada Ltd2.650%, $680,000 par, due 11/20/2022 (1)705,361 
Schlumberger Investment SA2.400%, $1,808,000 par, due 8/1/2022 (1)1,853,272 
Seasoned Credit Risk Transfer Trust Series 2018-33.500%, $161,420 par, due 8/25/2057 (1)174,821 
Seasoned Credit Risk Transfer Trust Series 2020-22.500%, $4,874,234 par, due 11/25/2059 (1)5,132,568 
Seasoned Credit Risk Transfer Trust Series 2020-32.500%, $1,997,327 par, due 5/25/2060 (1)2,102,259 
Seasoned Credit Risk Transfer Trust Series 2020-32.500%, $2,832,330 par, due 5/25/2060 (1)2,968,358 
Sempra Energy2.900%, $79,000 par, due 2/1/2023 (1)82,885 
Shell International Finance BV3.400%, $2,220,000 par, due 8/12/2023 (1)2,396,197 
Shell International Finance BV3.500%, $274,000 par, due 11/13/2023 (1)298,265 
Shell International Finance BV0.621%, $1,080,000 par, due 11/13/2023 (1)1,086,016 
Shell International Finance BV0.375%, $550,000 par, due 9/15/2023 (1)551,209 
Shell International Finance BV2.375%, $535,000 par, due 4/6/2025 (1)573,788 
Sherwin-Williams Co/The2.750%, $83,000 par, due 6/1/2022 (1)85,643 
Simon Property Group LP2.750%, $2,500,000 par, due 6/1/2023 (1)2,627,643 
Simon Property Group LP2.500%, $83,000 par, due 7/15/2021 (1)83,486 
Simon Property Group LP2.350%, $950,000 par, due 1/30/2022 (1)964,679 
SLCC Student Loan Trust I1.368%, $36,152 par, due 10/25/2027 (1)36,332 
SLM Student Loan Trust 2005-40.335%, $282,649 par, due 1/25/2027 (1)280,988 
SLM Student Loan Trust 2005-80.765%, $183,371 par, due 1/25/2028 (1)183,409 
SLM Student Loan Trust 2008-91.715%, $418,905 par, due 4/25/2023 (1)418,707 
Southern California Edison Co1.845%, $257,143 par, due 2/1/2022 (1)257,697 
Starbucks Corp1.300%, $300,000 par, due 5/7/2022 (1)304,197 
State of Hawaii0.852%, $4,225,000 par, due 10/1/2025 (1)4,274,982 
State of Hawaii2.255%, $1,500,000 par, due 10/1/2023 (1)1,578,915 
State of Louisiana0.650%, $2,095,000 par, due 6/1/2024 (1)2,107,340 
State of Maine1.250%, $690,000 par, due 6/1/2022 (1)697,224 
State of Maine1.250%, $400,000 par, due 6/1/2023 (1)406,200 
State of Maryland0.660%, $1,000,000 par, due 8/1/2025 (1)1,010,490 
State of New York1.950%, $1,500,000 par, due 2/15/2023 (1)1,539,180 
State of Utah4.554%, $1,160,000 par, due 7/1/2024 (1)1,253,972 
State of Utah3.539%, $1,340,000 par, due 7/1/2025 (1)1,457,813 
State of Washington3.250%, $750,000 par, due 8/1/2026 (1)850,710 
State Street Corp3.776%, $63,000 par, due 12/3/2024 (1)69,258 
State Street Corp2.653%, $1,080,000 par, due 5/15/2023 (1)1,113,760 
Student Loan Corp1.015%, $1,118,275 par, due 4/25/2037 (1)1,124,078 
    38    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Student Loan Corp0.848%, $2,071,098 par, due 7/25/2036 (1)$2,054,469 
Sumitomo Mitsui Financial Group Inc3.936%, $2,523,000 par, due 10/16/2023 (1)2,764,297 
Sumitomo Mitsui Financial Group Inc1.030%, $1,310,000 par, due 10/16/2023 (1)1,321,059 
Sumitomo Mitsui Financial Group Inc2.784%, $975,000 par, due 7/12/2022 (1)1,010,810 
Sutter Health1.321%, $1,040,000 par, due 8/15/2025 (1)1,057,521 
Tagua Leasing LLC1.900%, $6,052,103 par, due 7/12/2024 (1)6,191,174 
Tagua Leasing LLC1.732%, $184,794 par, due 9/18/2024 (1)189,709 
Target Corp2.250%, $760,000 par, due 4/15/2025 (1)813,548 
Texas Tech University System0.938%, $1,250,000 par, due 2/15/2025 (1)1,263,150 
Thermo Fisher Scientific Inc3.000%, $350,000 par, due 4/15/2023 (1)369,385 
Thermo Fisher Scientific Inc4.133%, $435,000 par, due 3/25/2025 (1)494,611 
Toronto-Dominion Bank/The3.350%, $740,000 par, due 10/22/2021 (1)757,977 
Toronto-Dominion Bank/The1.900%, $1,860,000 par, due 12/1/2022 (1)1,917,850 
Toronto-Dominion Bank/The2.650%, $736,000 par, due 6/12/2024 (1)788,639 
Toronto-Dominion Bank/The0.750%, $720,000 par, due 6/12/2023 (1)727,623 
Toronto-Dominion Bank/The3.250%, $497,000 par, due 3/11/2024 (1)539,747 
Toronto-Dominion Bank/The2.250%, $2,168,000 par, due 3/15/2021 (1)2,176,848 
Total Capital Canada Ltd2.750%, $387,000 par, due 7/15/2023 (1)411,003 
Total Capital International SA2.700%, $600,000 par, due 1/25/2023 (1)629,057 
Total Capital International SA2.434%, $1,273,000 par, due 1/10/2025 (1)1,358,720 
Total Capital International SA3.700%, $402,000 par, due 1/15/2024 (1)440,372 
Towd Point Mortgage Trust 2015-43.500%, $112,862 par, due 4/25/2055 (1)113,503 
Towd Point Mortgage Trust 2015-52.750%, $12,783 par, due 5/25/2055 (1)12,876 
Towd Point Mortgage Trust 2015-63.500%, $182,782 par, due 4/25/2055 (1)186,781 
Towd Point Mortgage Trust 2016-12.750%, $389,002 par, due 2/25/2055 (1)393,230 
Towd Point Mortgage Trust 2016-22.750%, $710,611 par, due 8/25/2055 (1)718,570 
Towd Point Mortgage Trust 2016-32.250%, $448,884 par, due 4/25/2056 (1)453,142 
Towd Point Mortgage Trust 2016-42.250%, $63,102 par, due 7/25/2056 (1)64,077 
Towd Point Mortgage Trust 2017-12.750%, $1,102,564 par, due 10/25/2056 (1)1,130,020 
Towd Point Mortgage Trust 2017-22.750%, $399,709 par, due 4/25/2057 (1)408,611 
Towd Point Mortgage Trust 2017-50.748%, $424,689 par, due 2/25/2057 (1)423,328 
Towd Point Mortgage Trust 2017-62.750%, $787,899 par, due 10/25/2057 (1)811,208 
Towd Point Mortgage Trust 2018-13.000%, $367,091 par, due 1/25/2058 (1)381,502 
Towd Point Mortgage Trust 2018-23.250%, $2,677,390 par, due 3/25/2058 (1)2,802,545 
Towd Point Mortgage Trust 2018-33.750%, $1,578,356 par, due 5/25/2058 (1)1,679,761 
Towd Point Mortgage Trust 2019-HY31.148%, $2,511,949 par, due 10/25/2059 (1)2,522,901 
Toyota Auto Loan Extended Note Trust 2019-12.560%, $3,565,000 par, due 11/25/2031 (1)3,807,088 
Toyota Auto Loan Extended Note Trust 2020-11.350%, $2,710,000 par, due 5/25/2033 (1)2,790,452 
Toyota Auto Receivables 2018-B Owner Trust2.960%, $761,874 par, due 9/15/2022 (1)769,991 
Toyota Auto Receivables 2019-A Owner Trust2.910%, $2,198,251 par, due 7/17/2023 (1)2,236,584 
Toyota Auto Receivables 2020-B Owner Trust1.380%, $3,590,290 par, due 12/15/2022 (1)3,608,328 
Toyota Auto Receivables 2020-C Owner Trust0.360%, $4,565,000 par, due 2/15/2023 (1)4,567,725 
Toyota Motor Corp3.419%, $405,000 par, due 7/20/2023 (1)436,446 
Toyota Motor Corp2.157%, $380,000 par, due 7/2/2022 (1)390,057 
Toyota Motor Credit Corp3.350%, $198,000 par, due 1/8/2024 (1)214,906 
Toyota Motor Credit Corp2.900%, $2,430,000 par, due 3/30/2023 (1)2,570,687 
Toyota Motor Credit Corp1.350%, $760,000 par, due 8/25/2023 (1)780,263 
Transportation Finance Equipment Trust 2019-11.850%, $4,520,000 par, due 4/24/2023 (1)4,583,601 
Tricahue Leasing LLC3.744%, $84,367 par, due 2/26/2022 (1)86,144 
Truist Bank3.200%, $315,000 par, due 4/1/2024 (1)341,921 
Truist Bank3.502%, $970,000 par, due 8/2/2022 (1)987,606 
Truist Financial Corp3.050%, $1,110,000 par, due 6/20/2022 (1)1,152,071 
Truist Financial Corp2.200%, $2,105,000 par, due 3/16/2023 (1)2,185,108 
TSMC Global Ltd0.750%, $2,220,000 par, due 9/28/2025 (1)2,211,209 
Tyco Electronics Group SA3.450%, $440,000 par, due 8/1/2024 (1)476,216 
Tyco Electronics Group SA3.500%, $1,039,000 par, due 2/3/2022 (1)1,067,482 
UBS AG/London1.750%, $200,000 par, due 4/21/2022 (1)203,559 
UBS Commercial Mortgage Trust 2012-C13.002%, $56,238 par, due 5/10/2045 (1)56,647 
UBS Commercial Mortgage Trust 2012-C13.400%, $447,347 par, due 5/10/2045 (1)455,970 
UBS Group AG1.171%, $555,000 par, due 8/15/2023 (1)560,382 
UBS Group AG3.491%, $250,000 par, due 5/23/2023 (1)260,156 
UBS Group AG1.433%, $2,325,000 par, due 5/23/2023 (1)2,351,665 
UBS Group AG1.008%, $780,000 par, due 7/30/2024 (1)787,542 
UBS-Barclays Commercial Mortgage Trust 2012-C33.091%, $3,708,823 par, due 8/10/2049 (1)3,834,842 
UBS-Barclays Commercial Mortgage Trust 2012-C42.459%, $651,401 par, due 12/10/2045 (1)658,959 
UBS-Barclays Commercial Mortgage Trust 2012-C42.850%, $630,000 par, due 12/10/2045 (1)653,033 
Union Pacific Corp4.163%, $27,000 par, due 7/15/2022 (1)28,325 
Union Pacific Corp3.150%, $94,000 par, due 3/1/2024 (1)101,697 
    39    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Union Pacific Corp2.950%, $700,000 par, due 3/1/2022 (1)$721,671 
Union Pacific Corp3.200%, $278,000 par, due 6/8/2021 (1)281,446 
Union Pacific Corp3.500%, $1,822,000 par, due 6/8/2023 (1)1,953,312 
United Parcel Service Inc3.900%, $880,000 par, due 4/1/2025 (1)994,214 
United Parcel Service Inc2.500%, $950,000 par, due 4/1/2023 (1)993,615 
United States Small Business Administration5.630%, $765,707 par, due 10/1/2028 (1)843,933 
United States Small Business Administration5.510%, $177,896 par, due 11/1/2027 (1)196,043 
United States Small Business Administration6.770%, $294,331 par, due 11/1/2028 (1)329,147 
United States Small Business Administration5.290%, $555,585 par, due 12/1/2027 (1)599,594 
United States Small Business Administration4.760%, $769,846 par, due 9/1/2025 (1)809,289 
United States Small Business Administration1.880%, $91,811 par, due 3/1/2025 (1)94,225 
United States Small Business Administration5.720%, $157,675 par, due 1/1/2029 (1)173,995 
United States Treasury Note/Bond0.250%, $27,750,000 par, due 11/15/2023 (1)27,828,033 
United States Treasury Note/Bond0.125%, $30,625,000 par, due 12/15/2023 (1)30,589,108 
United States Treasury Note/Bond0.125%, $15,575,000 par, due 8/15/2023 (1)15,566,480 
United States Treasury Note/Bond1.375%, $34,000,000 par, due 2/15/2023 (1)34,896,478 
United States Treasury Note/Bond0.500%, $58,500,000 par, due 3/15/2023 (1)58,975,313 
United States Treasury Note/Bond1.500%, $17,250,000 par, due 1/15/2023 (1)17,731,120 
United States Treasury Note/Bond0.125%, $15,000,000 par, due 7/15/2023 (1)14,992,965 
United States Treasury Note/Bond1.625%, $17,000,000 par, due 12/15/2022 (1)17,496,723 
United States Treasury Note/Bond0.125%, $38,850,000 par, due 10/15/2023 (1)38,822,688 
United States Treasury Note/Bond0.125%, $30,175,000 par, due 5/15/2023 (1)30,166,762 
United States Treasury Note/Bond1.625%, $20,890,000 par, due 11/15/2022 (1)21,471,828 
United States Treasury Note/Bond0.125%, $22,000,000 par, due 9/15/2023 (1)21,984,534 
United States Treasury Note/Bond0.250%, $14,800,000 par, due 4/15/2023 (1)14,836,423 
UnitedHealth Group Inc3.500%, $1,435,000 par, due 6/15/2023 (1)1,548,597 
UnitedHealth Group Inc3.500%, $1,390,000 par, due 2/15/2024 (1)1,521,383 
University of Michigan1.004%, $2,710,000 par, due 4/1/2025 (1)2,753,387 
US Bancorp3.375%, $292,000 par, due 2/5/2024 (1)317,881 
US Bank NA/Cincinnati OH3.400%, $472,000 par, due 7/24/2023 (1)506,829 
USAA Capital Corp1.500%, $240,000 par, due 5/1/2023 (1)246,181 
Utah State Board of Regents0.898%, $594,267 par, due 12/26/2031 (1)591,949 
Ventas Realty LP2.650%, $430,000 par, due 1/15/2025 (1)460,204 
Ventas Realty LP3.100%, $1,517,000 par, due 1/15/2023 (1)1,591,864 
Verizon Communications Inc1.219%, $1,802,000 par, due 3/16/2022 (1)1,821,656 
Verizon Owner Trust 2018-12.820%, $624,144 par, due 9/20/2022 (1)626,706 
Verizon Owner Trust 2018-A3.230%, $3,647,957 par, due 4/20/2023 (1)3,696,383 
Verizon Owner Trust 2019-A2.930%, $2,794,000 par, due 9/20/2023 (1)2,848,192 
Verizon Owner Trust 2019-B2.330%, $4,020,000 par, due 12/20/2023 (1)4,099,572 
Verizon Owner Trust 2019-C1.940%, $7,890,000 par, due 4/22/2024 (1)8,059,280 
Verizon Owner Trust 2020-A1.850%, $7,875,000 par, due 7/22/2024 (1)8,064,055 
Verizon Owner Trust 2020-B0.470%, $6,240,000 par, due 2/20/2025 (1)6,262,090 
Verizon Owner Trust 2020-C0.410%, $3,095,000 par, due 4/21/2025 (1)3,100,713 
Vermont Std Asst Corp0.848%, $663,671 par, due 7/28/2034 (1)663,677 
Vodafone Group PLC3.750%, $1,666,000 par, due 1/16/2024 (1)1,820,533 
Volkswagen Auto Lease Trust 2019-A1.990%, $2,160,000 par, due 11/21/2022 (1)2,192,121 
Volkswagen Auto Loan Enhanced Trust 2018-13.020%, $1,161,729 par, due 11/21/2022 (1)1,175,462 
Volkswagen Auto Loan Enhanced Trust 2018-23.250%, $836,964 par, due 4/20/2023 (1)851,828 
Volkswagen Auto Loan Enhanced Trust 2020-10.930%, $4,511,811 par, due 12/20/2022 (1)4,523,212 
Volkswagen Group of America Finance LLC2.700%, $880,000 par, due 9/26/2022 (1)912,336 
Volvo Financial Equipment LLC Series 2019-22.040%, $3,180,000 par, due 11/15/2023 (1)3,241,266 
Walt Disney Co/The1.750%, $730,000 par, due 8/30/2024 (1)761,300 
Walt Disney Co/The3.350%, $2,460,000 par, due 3/24/2025 (1)2,727,139 
*Wells Fargo Commercial Mortgage Trust 2013-LC124.218%, $607,000 par, due 7/15/2046 (1)651,999 
Welltower Inc3.950%, $130,000 par, due 9/1/2023 (1)141,047 
Welltower Inc3.625%, $2,496,000 par, due 3/15/2024 (1)2,720,370 
Westpac Banking Corp3.300%, $252,000 par, due 2/26/2024 (1)273,906 
Westpac Banking Corp1.003%, $1,190,000 par, due 2/26/2024 (1)1,211,189 
WestRock RKT LLC4.900%, $2,080,000 par, due 3/1/2022 (1)2,185,612 
WFRBS Commercial Mortgage Trust 2011-C53.667%, $3,366,879 par, due 11/15/2044 (1)3,407,359 
WFRBS Commercial Mortgage Trust 2012-C102.875%, $1,850,000 par, due 12/15/2045 (1)1,916,450 
WFRBS Commercial Mortgage Trust 2012-C102.453%, $521,867 par, due 12/15/2045 (1)530,465 
WFRBS Commercial Mortgage Trust 2012-C82.559%, $62,231 par, due 8/15/2045 (1)62,724 
WFRBS Commercial Mortgage Trust 2012-C81.153%, $214,630 par, due 8/15/2045 (1)214,889 
WFRBS Commercial Mortgage Trust 2013-C122.838%, $125,327 par, due 3/15/2048 (1)128,238 
WFRBS Commercial Mortgage Trust 2013-C174.023%, $382,000 par, due 12/15/2046 (1)413,148 
Windermere Aviation LLC2.351%, $699,595 par, due 5/27/2026 (1)734,404 
World Omni Auto Receivables Trust1.100%, $7,520,000 par, due 4/15/2025 (1)7,623,204 
    40    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
World Omni Auto Receivables Trust 2017-B1.950%, $1,301,458 par, due 2/15/2023 (1)$1,310,229 
World Omni Auto Receivables Trust 2018-B2.870%, $1,253,344 par, due 7/17/2023 (1)1,271,092 
World Omni Auto Receivables Trust 2018-C3.130%, $2,189,495 par, due 11/15/2023 (1)2,226,292 
World Omni Auto Receivables Trust 2019-C1.960%, $5,115,000 par, due 12/16/2024 (1)5,217,499 
World Omni Auto Receivables Trust 2020-C0.480%, $7,820,000 par, due 11/17/2025 (1)7,847,159 
World Omni Automobile Lease Sec Trust 2018-B3.190%, $1,079,818 par, due 12/15/2021 (1)1,083,435 
World Omni Automobile Lease Sec Trust 2019-A2.940%, $1,175,000 par, due 5/16/2022 (1)1,185,757 
World Omni Automobile Lease Sec Trust 2019-B2.030%, $2,900,000 par, due 11/15/2022 (1)2,949,004 
World Omni Select Auto Trust 2019-A2.000%, $5,370,000 par, due 8/15/2024 (1)5,455,383 
World Omni Select Auto Trust 2020-A0.470%, $4,425,000 par, due 6/17/2024 (1)4,431,965 
WRKCo Inc3.000%, $720,000 par, due 9/15/2024 (1)775,261 
Xcel Energy Inc2.400%, $730,000 par, due 3/15/2021 (1)731,626 
Yale University0.873%, $3,670,000 par, due 4/15/2025 (1)3,727,931 
*Wells Fargo/BlackRock Short Term Investment Fund S55,873,512 shares(1)55,873,512 
1,623,207,155 
Accrued income receivable4,638,893 
Payable for securities purchased on a forward commitment basis(50,508,995)
Receivable for investment payments due2,155,251 
Cash1,697 
Adjustment from fair value to current value(74,532,183)
     Total1,504,961,818 
American General Life Ins. Co.2.00%(1)— 
Massachsetts Mutual Life Ins. Co.2.31%(1)— 
Nationwide Life Insurance Co.2.36%(1)— 
Pacific Life Ins. Co.2.46%(1)— 
Prudential Ins. Co. of America2.52%(1)— 
Royal Bank of Canada2.18%(1)— 
State Street Bank and TrustCo.2.34%(1)— 
Transamerica Premier Life Ins. Co.2.37%(1)— 
Voya Ins. and Annuity Co.2.15%(1)— 
3M Co2.000%, $1,240,000 par, due 2/14/2025 (1)1,314,476 
ABB Treasury Center USA Inc4.000%, $1,500,000 par, due 6/15/2021 (1)1,524,899 
AbbVie Inc2.950%, $1,120,000 par, due 11/21/2026 (1)1,238,551 
AbbVie Inc3.200%, $720,000 par, due 11/21/2029 (1)806,901 
AbbVie Inc2.600%, $3,370,000 par, due 11/21/2024 (1)3,611,953 
AbbVie Inc3.800%, $1,170,000 par, due 3/15/2025 (1)1,304,758 
Access Group Inc 2013-10.648%, $551,678 par, due 2/25/2036 (1)546,371 
Advocate Health & Hospitals Corp3.829%, $1,830,000 par, due 8/15/2028 (1)2,107,893 
Advocate Health & Hospitals Corp2.211%, $940,000 par, due 6/15/2030 (1)979,784 
AEP Texas Inc2.400%, $417,000 par, due 10/1/2022 (1)430,138 
AIG Global Funding2.700%, $2,250,000 par, due 12/15/2021 (1)2,300,483 
AIG Global Funding0.900%, $2,020,000 par, due 9/22/2025 (1)2,024,072 
Air Products and Chemicals Inc1.850%, $515,000 par, due 5/15/2027 (1)545,132 
Alexandria Real Estate Equities Inc4.300%, $780,000 par, due 1/15/2026 (1)906,872 
Alexandria Real Estate Equities Inc3.450%, $1,600,000 par, due 4/30/2025 (1)1,779,072 
Alexandria Real Estate Equities Inc3.800%, $1,010,000 par, due 4/15/2026 (1)1,161,339 
Alliant Energy Finance LLC3.750%, $884,000 par, due 6/15/2023 (1)947,139 
Amal Ltd/Cayman Islands3.465%, $298,830 par, due 8/21/2021 (1)302,410 
American Express Co3.700%, $990,000 par, due 8/3/2023 (1)1,072,060 
American Express Co3.400%, $1,000,000 par, due 2/22/2024 (1)1,085,281 
American Express Co3.400%, $1,285,000 par, due 2/27/2023 (1)1,366,675 
American Express Credit Account Master Trust3.060%, $839,000 par, due 2/15/2024 (1)851,830 
American Express Credit Account Master Trust3.180%, $517,000 par, due 4/15/2024 (1)527,665 
American Honda Finance Corp2.400%, $990,000 par, due 6/27/2024 (1)1,051,576 
American Honda Finance Corp3.625%, $1,720,000 par, due 10/10/2023 (1)1,871,362 
American Honda Finance Corp1.650%, $528,000 par, due 7/12/2021 (1)531,802 
American Honda Finance Corp3.450%, $766,000 par, due 7/14/2023 (1)825,006 
Amphenol Corp3.200%, $1,335,000 par, due 4/1/2024 (1)1,437,998 
Amphenol Corp4.350%, $440,000 par, due 6/1/2029 (1)538,630 
Anglo American Capital PLC4.875%, $1,240,000 par, due 5/14/2025 (1)1,434,379 
Anglo American Capital PLC3.625%, $200,000 par, due 9/11/2024 (1)217,573 
Anheuser-Busch InBev Worldwide Inc3.650%, $1,070,000 par, due 2/1/2026 (1)1,209,496 
Anheuser-Busch InBev Worldwide Inc4.150%, $310,000 par, due 1/23/2025 (1)352,994 
Apple Inc3.000%, $2,400,000 par, due 2/9/2024 (1)2,581,822 
Apple Inc2.850%, $870,000 par, due 5/11/2024 (1)938,077 
Apple Inc1.125%, $475,000 par, due 5/11/2025 (1)488,473 
Archer-Daniels-Midland Co3.250%, $970,000 par, due 3/27/2030 (1)1,121,796 
Ascension Health2.532%, $1,743,000 par, due 11/15/2029 (1)1,909,638 
    41    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
AT&T Inc4.500%, $870,000 par, due 5/15/2035 (1)$1,055,688 
AT&T Inc1.400%, $320,000 par, due 6/12/2024 (1)327,834 
AT&T Inc2.250%, $2,730,000 par, due 2/1/2032 (1)2,769,364 
AvalonBay Communities Inc2.950%, $562,000 par, due 9/15/2022 (1)583,235 
AvalonBay Communities Inc3.450%, $560,000 par, due 6/1/2025 (1)623,353 
BAE Systems Holdings Inc3.850%, $1,200,000 par, due 12/15/2025 (1)1,360,818 
BAE Systems Holdings Inc3.800%, $1,000,000 par, due 10/7/2024 (1)1,112,023 
BAE Systems PLC4.750%, $1,485,000 par, due 10/11/2021 (1)1,532,688 
Baker Hughes a GE Co LLC2.773%, $1,318,000 par, due 12/15/2022 (1)1,376,511 
Bank of America Corp2.015%, $1,740,000 par, due 2/13/2026 (1)1,823,591 
Bank of America Corp4.000%, $1,500,000 par, due 4/1/2024 (1)1,665,092 
Bank of America Corp3.124%, $303,000 par, due 1/20/2023 (1)311,699 
Bank of America Corp3.864%, $193,000 par, due 7/23/2024 (1)209,251 
Bank of America Corp4.271%, $2,180,000 par, due 7/23/2029 (1)2,595,826 
Bank of America Corp3.458%, $1,700,000 par, due 3/15/2025 (1)1,850,946 
Bank of America Corp2.456%, $620,000 par, due 10/22/2025 (1)660,938 
Bank of America Corp2.881%, $1,643,000 par, due 4/24/2023 (1)1,695,438 
Bank of America Corp1.197%, $1,510,000 par, due 10/24/2026 (1)1,530,106 
Bank of America Corp1.319%, $2,020,000 par, due 6/19/2026 (1)2,063,089 
Bank of Montreal1.750%, $1,100,000 par, due 6/15/2021 (1)1,107,358 
Bank of Montreal3.300%, $2,181,000 par, due 2/5/2024 (1)2,365,528 
Bank of New York Mellon Corp/The3.450%, $1,118,000 par, due 8/11/2023 (1)1,208,517 
Bank of New York Mellon Corp/The3.500%, $590,000 par, due 4/28/2023 (1)632,721 
Bank of Nova Scotia/The1.875%, $1,045,000 par, due 4/26/2021 (1)1,050,341 
Bank of Nova Scotia/The2.200%, $2,300,000 par, due 2/3/2025 (1)2,443,867 
Bank of Nova Scotia/The4.500%, $210,000 par, due 12/16/2025 (1)244,848 
Bank of Nova Scotia/The3.400%, $2,269,000 par, due 2/11/2024 (1)2,469,065 
Barbers Hill Independent School District4.000%, $2,175,000 par, due 2/15/2027 (1)2,542,162 
Baxter International Inc3.950%, $385,000 par, due 4/1/2030 (1)460,118 
Bayer US Finance II LLC4.375%, $1,200,000 par, due 12/15/2028 (1)1,411,460 
Bayer US Finance II LLC4.250%, $790,000 par, due 12/15/2025 (1)903,033 
Bayer US Finance II LLC3.875%, $556,000 par, due 12/15/2023 (1)605,662 
Black Hills Corp4.250%, $710,000 par, due 11/30/2023 (1)778,204 
Black Hills Corp3.150%, $630,000 par, due 1/15/2027 (1)685,324 
BMW US Capital LLC3.150%, $3,362,000 par, due 4/18/2024 (1)3,625,150 
BNP Paribas SA4.400%, $1,510,000 par, due 8/14/2028 (1)1,789,456 
BNP Paribas SA4.705%, $1,283,000 par, due 1/10/2025 (1)1,425,965 
Boeing Co/The2.700%, $1,420,000 par, due 2/1/2027 (1)1,477,009 
Boeing Co/The5.040%, $270,000 par, due 5/1/2027 (1)315,649 
Boeing Co/The5.150%, $1,780,000 par, due 5/1/2030 (1)2,154,247 
Boston Properties LP2.750%, $1,150,000 par, due 10/1/2026 (1)1,253,785 
Boston Properties LP3.850%, $1,162,000 par, due 2/1/2023 (1)1,236,216 
Boston Properties LP3.650%, $1,550,000 par, due 2/1/2026 (1)1,763,985 
Boston Properties LP3.125%, $165,000 par, due 9/1/2023 (1)175,019 
BP Capital Markets America Inc3.790%, $678,000 par, due 2/6/2024 (1)740,944 
BP Capital Markets America Inc3.796%, $600,000 par, due 9/21/2025 (1)680,374 
BP Capital Markets America Inc3.224%, $286,000 par, due 4/14/2024 (1)309,385 
BP Capital Markets America Inc2.750%, $275,000 par, due 5/10/2023 (1)290,053 
BP Capital Markets America Inc3.216%, $1,200,000 par, due 11/28/2023 (1)1,286,934 
BP Capital Markets PLC3.814%, $560,000 par, due 2/10/2024 (1)615,022 
BP Capital Markets PLC3.279%, $865,000 par, due 9/19/2027 (1)971,248 
Bristol-Myers Squibb Co3.200%, $1,030,000 par, due 6/15/2026 (1)1,158,887 
Bristol-Myers Squibb Co2.900%, $2,660,000 par, due 7/26/2024 (1)2,886,778 
Brown-Forman Corp3.500%, $950,000 par, due 4/15/2025 (1)1,051,998 
Burlington Northern Santa Fe LLC3.400%, $1,840,000 par, due 9/1/2024 (1)2,018,909 
Canadian Natural Resources Ltd2.950%, $1,320,000 par, due 1/15/2023 (1)1,380,562 
Canadian Pacific Railway Co2.900%, $460,000 par, due 2/1/2025 (1)497,994 
Canadian Pacific Railway Co4.500%, $775,000 par, due 1/15/2022 (1)807,062 
Capital One Bank USA NA2.280%, $930,000 par, due 1/28/2026 (1)972,888 
Capital One Financial Corp3.900%, $650,000 par, due 1/29/2024 (1)711,995 
Capital One Financial Corp3.200%, $230,000 par, due 1/30/2023 (1)242,328 
Cardinal Health Inc2.616%, $468,000 par, due 6/15/2022 (1)481,709 
Cargill Inc2.125%, $755,000 par, due 4/23/2030 (1)794,316 
Cargill Inc3.250%, $1,610,000 par, due 3/1/2023 (1)1,707,389 
Carmax Auto Owner Trust 2018-43.360%, $1,964,182 par, due 9/15/2023 (1)2,005,574 
Carrier Global Corp2.493%, $1,870,000 par, due 2/15/2027 (1)2,017,803 
Caterpillar Financial Services Corp3.650%, $1,329,000 par, due 12/7/2023 (1)1,457,312 
Caterpillar Financial Services Corp1.100%, $420,000 par, due 9/14/2027 (1)424,350 
    42    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Caterpillar Financial Services Corp2.850%, $985,000 par, due 5/17/2024 (1)$1,060,349 
Caterpillar Financial Services Corp2.150%, $500,000 par, due 11/8/2024 (1)532,629 
Caterpillar Inc2.600%, $110,000 par, due 4/9/2030 (1)121,259 
CenterPoint Energy Houston Electric LLC2.250%, $853,000 par, due 8/1/2022 (1)874,833 
Cherokee County Board of Education5.626%, $1,000,000 par, due 8/1/2028 (1)1,254,010 
Chevron Corp2.895%, $810,000 par, due 3/3/2024 (1)867,983 
Chevron Corp1.995%, $390,000 par, due 5/11/2027 (1)413,591 
Chevron Corp1.554%, $90,000 par, due 5/11/2025 (1)93,598 
Chevron Phillips Chemical Co LLC3.300%, $209,000 par, due 5/1/2023 (1)221,218 
Children's Hospital Medical Center/Cincinnati OH2.853%, $1,775,000 par, due 11/15/2026 (1)1,914,107 
CHRISTUS Health4.341%, $1,500,000 par, due 7/1/2028 (1)1,778,507 
Cigna Corp3.750%, $691,000 par, due 7/15/2023 (1)747,019 
Cimarex Energy Co3.900%, $640,000 par, due 5/15/2027 (1)705,368 
Cintas Corp No 24.300%, $440,000 par, due 6/1/2021 (1)447,104 
Cintas Corp No 23.250%, $780,000 par, due 6/1/2022 (1)805,596 
Cintas Corp No 22.900%, $231,000 par, due 4/1/2022 (1)237,763 
Cintas Corp No 23.700%, $850,000 par, due 4/1/2027 (1)979,356 
Citigroup Inc3.200%, $1,300,000 par, due 10/21/2026 (1)1,452,968 
Citigroup Inc2.750%, $790,000 par, due 4/25/2022 (1)813,612 
Citigroup Inc3.352%, $1,144,000 par, due 4/24/2025 (1)1,243,729 
Citigroup Inc3.142%, $370,000 par, due 1/24/2023 (1)380,467 
Citigroup Inc3.668%, $880,000 par, due 7/24/2028 (1)997,660 
Citigroup Inc4.044%, $1,325,000 par, due 6/1/2024 (1)1,440,997 
Citigroup Inc3.400%, $760,000 par, due 5/1/2026 (1)855,439 
Citigroup Inc3.300%, $380,000 par, due 4/27/2025 (1)421,406 
Citigroup Inc3.520%, $500,000 par, due 10/27/2028 (1)565,278 
Citigroup Inc2.572%, $2,050,000 par, due 6/3/2031 (1)2,185,013 
Citizens Bank NA/Providence RI3.750%, $260,000 par, due 2/18/2026 (1)295,432 
Citizens Bank NA/Providence RI3.700%, $1,720,000 par, due 3/29/2023 (1)1,839,320 
City & County of Honolulu HI3.753%, $425,000 par, due 9/1/2030 (1)495,244 
City of Boston MA4.400%, $950,000 par, due 4/1/2026 (1)958,332 
City of Chicago IL6.050%, $315,000 par, due 1/1/2029 (1)327,735 
City of Houston TX3.725%, $735,000 par, due 3/1/2030 (1)834,681 
City of Phoenix Civic Improvement Corp1.455%, $835,000 par, due 7/1/2028 (1)845,045 
City of Worcester MA6.250%, $1,145,000 par, due 1/1/2028 (1)1,330,055 
CLEVELAND CLINIC HEALTH SYSTEM2.885%, $3,475,000 par, due 1/1/2032 (1)3,846,061 
Clorox Co/The3.100%, $1,200,000 par, due 10/1/2027 (1)1,349,672 
Coast Community College District2.788%, $3,610,000 par, due 8/1/2033 (1)3,978,581 
COLUMBUS GA WATER & SEWER2.379%, $2,075,000 par, due 5/1/2026 (1)2,228,965 
Comcast Corp3.950%, $1,570,000 par, due 10/15/2025 (1)1,803,742 
Comcast Corp3.000%, $1,265,000 par, due 2/1/2024 (1)1,360,817 
Comcast Corp3.400%, $750,000 par, due 4/1/2030 (1)867,266 
Comerica Inc3.700%, $844,000 par, due 7/31/2023 (1)910,545 
COMM 2012-LC4 A4 9.6-Yr CMBS3.288%, $2,123,647 par, due 12/10/2044 (1)2,153,019 
COMM 2013-CCRE11 Mortgage Trust4.258%, $3,900,000 par, due 8/10/2050 (1)4,257,466 
Comm 2013-CCRE13 Mortgage Trust4.194%, $990,000 par, due 11/10/2046 (1)1,085,235 
COMM 2013-CCRE6 Mortgage Trust3.101%, $2,880,000 par, due 3/10/2046 (1)2,985,952 
COMM 2013-CCRE7 Mortgage Trust3.213%, $463,611 par, due 3/10/2046 (1)487,855 
COMM 2013-CCRE8 Mortgage Trust3.612%, $2,165,000 par, due 6/10/2046 (1)2,307,886 
COMM 2013-LC6 Mortgage Trust2.941%, $800,768 par, due 1/10/2046 (1)832,026 
COMM 2014-CCRE17 Mortgage Trust3.977%, $2,355,000 par, due 5/10/2047 (1)2,596,590 
COMM 2014-CCRE18 Mortgage Trust3.828%, $4,505,000 par, due 7/15/2047 (1)4,962,375 
COMM 2014-CCRE19 Mortgage Trust3.796%, $2,420,133 par, due 8/10/2047 (1)2,670,822 
COMM 2014-CR14 Mortgage Trust4.236%, $6,235,000 par, due 2/10/2047 (1)6,849,721 
Commonwealth of Massachusetts0.986%, $1,365,000 par, due 11/1/2026 (1)1,404,640 
Commonwealth of Massachusetts4.500%, $2,000,000 par, due 8/1/2031 (1)2,564,900 
Commonwealth of Pennsylvania4.650%, $750,000 par, due 2/15/2026 (1)843,525 
Contra Costa Community College District2.048%, $2,740,000 par, due 8/1/2026 (1)2,896,399 
Cooperatieve Rabobank UA2.625%, $535,000 par, due 7/22/2024 (1)572,121 
Cooperatieve Rabobank UA3.875%, $300,000 par, due 9/26/2023 (1)327,240 
Cooperatieve Rabobank UA1.004%, $870,000 par, due 9/24/2026 (1)876,214 
Cooperatieve Rabobank UA/NY2.750%, $2,075,000 par, due 1/10/2023 (1)2,176,420 
County of Baltimore MD2.778%, $1,000,000 par, due 7/1/2030 (1)1,126,800 
County of Baltimore MD2.847%, $550,000 par, due 8/1/2026 (1)612,112 
County of Broward FL Airport System Revenue2.384%, $1,500,000 par, due 10/1/2026 (1)1,546,125 
County of Cumberland ME5.000%, $1,560,000 par, due 12/1/2026 (1)1,892,826 
County of Cuyahoga OH2.141%, $2,455,000 par, due 12/1/2027 (1)2,596,825 
County of Lee County FL Water & Sewer Revenue2.416%, $2,140,000 par, due 10/1/2028 (1)2,301,570 
    43    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
County of Monroe PA2.470%, $2,175,000 par, due 12/15/2025 (1)$2,357,896 
County of Montgomery MD1.250%, $1,245,000 par, due 11/1/2028 (1)1,269,041 
County of Spokane WA2.728%, $1,195,000 par, due 12/1/2031 (1)1,315,516 
County of Spokane WA2.828%, $875,000 par, due 12/1/2032 (1)962,281 
Credit Suisse AG/New York NY3.625%, $330,000 par, due 9/9/2024 (1)366,171 
Credit Suisse Group AG3.574%, $700,000 par, due 1/9/2023 (1)721,216 
Credit Suisse Group AG3.869%, $340,000 par, due 1/12/2029 (1)385,084 
Credit Suisse Group AG2.593%, $640,000 par, due 9/11/2025 (1)673,455 
Credit Suisse Group AG2.997%, $816,000 par, due 12/14/2023 (1)853,199 
Credit Suisse Group AG4.207%, $950,000 par, due 6/12/2024 (1)1,029,251 
CRH America Finance Inc3.950%, $370,000 par, due 4/4/2028 (1)430,582 
CRH America Finance Inc3.400%, $410,000 par, due 5/9/2027 (1)456,824 
CRH America Inc3.875%, $740,000 par, due 5/18/2025 (1)831,197 
Crowley Conro LLC4.181%, $1,536,599 par, due 8/15/2043 (1)1,839,492 
CVS Health Corp3.500%, $340,000 par, due 7/20/2022 (1)354,915 
CVS Health Corp4.300%, $1,083,000 par, due 3/25/2028 (1)1,288,728 
CVS Health Corp3.000%, $400,000 par, due 8/15/2026 (1)442,603 
CVS Health Corp1.300%, $2,530,000 par, due 8/21/2027 (1)2,541,749 
Daimler Finance North America LLC2.000%, $483,000 par, due 7/6/2021 (1)486,827 
Daimler Finance North America LLC3.000%, $285,000 par, due 2/22/2021 (1)285,940 
Daimler Finance North America LLC3.350%, $150,000 par, due 2/22/2023 (1)158,745 
Daimler Finance North America LLC2.125%, $2,040,000 par, due 3/10/2025 (1)2,142,357 
Daimler Finance North America LLC2.200%, $470,000 par, due 10/30/2021 (1)476,557 
Daimler Finance North America LLC2.700%, $1,640,000 par, due 6/14/2024 (1)1,755,869 
Danone SA2.589%, $1,760,000 par, due 11/2/2023 (1)1,851,967 
DBUBS 2011-LC1 Mortgage Trust5.002%, $285,891 par, due 11/10/2046 (1)285,867 
DBUBS 2011-LC2 Mortgage Trust4.537%, $1,559,594 par, due 7/10/2044 (1)1,567,487 
Denver City & County School District No 13.587%, $1,255,000 par, due 12/1/2032 (1)1,419,116 
Diageo Capital PLC2.000%, $620,000 par, due 4/29/2030 (1)646,542 
Diageo Capital PLC3.500%, $1,048,000 par, due 9/18/2023 (1)1,129,403 
Diageo Capital PLC2.125%, $750,000 par, due 10/24/2024 (1)791,594 
Digital Realty Trust LP4.750%, $580,000 par, due 10/1/2025 (1)678,970 
Digital Realty Trust LP4.450%, $990,000 par, due 7/15/2028 (1)1,190,313 
DTE Electric Co2.625%, $950,000 par, due 3/1/2031 (1)1,051,741 
Duke Energy Carolinas LLC2.500%, $1,073,000 par, due 3/15/2023 (1)1,119,840 
Duke Energy Carolinas LLC3.050%, $1,701,000 par, due 3/15/2023 (1)1,796,962 
Duke Energy Progress LLC3.700%, $730,000 par, due 9/1/2028 (1)854,423 
Duke Energy Progress LLC3.375%, $110,000 par, due 9/1/2023 (1)118,337 
Duke Energy Progress LLC3.450%, $350,000 par, due 3/15/2029 (1)406,553 
Duke Realty LP3.250%, $1,200,000 par, due 6/30/2026 (1)1,344,185 
Duke Realty LP4.000%, $1,020,000 par, due 9/15/2028 (1)1,202,141 
Duke Realty LP3.750%, $1,820,000 par, due 12/1/2024 (1)2,009,857 
Duke University Health System Inc2.552%, $2,674,000 par, due 6/1/2029 (1)2,829,787 
DuPont de Nemours Inc4.493%, $770,000 par, due 11/15/2025 (1)898,860 
DuPont de Nemours Inc4.725%, $2,610,000 par, due 11/15/2028 (1)3,215,348 
Ecolab Inc4.800%, $1,080,000 par, due 3/24/2030 (1)1,378,070 
Ecolab Inc3.250%, $520,000 par, due 1/14/2023 (1)547,252 
EdLinc Student Loan Funding Trust 2012-11.148%, $174,892 par, due 9/25/2030 (1)175,571 
Edsouth Indenture No 2 LLC1.298%, $100,801 par, due 9/25/2040 (1)101,057 
Edsouth Indenture No 3 LLC0.878%, $513,854 par, due 4/25/2039 (1)510,728 
Edu Fund of South1.198%, $2,319,169 par, due 3/25/2036 (1)2,330,067 
Edu Fund of South0.865%, $726,495 par, due 4/25/2035 (1)726,542 
EMD Finance LLC3.250%, $2,210,000 par, due 3/19/2025 (1)2,421,055 
EMD Finance LLC (Merck KGaA)2.950%, $780,000 par, due 3/19/2022 (1)800,842 
Emerson Electric Co0.875%, $160,000 par, due 10/15/2026 (1)161,046 
Emerson Electric Co1.950%, $865,000 par, due 10/15/2030 (1)912,608 
Entergy Arkansas LLC3.500%, $1,610,000 par, due 4/1/2026 (1)1,818,300 
Entergy Arkansas LLC3.050%, $1,943,000 par, due 6/1/2023 (1)2,048,458 
Enterprise Products Operating LLC3.750%, $420,000 par, due 2/15/2025 (1)470,259 
Enterprise Products Operating LLC2.800%, $880,000 par, due 1/31/2030 (1)953,761 
Enterprise Products Operating LLC3.500%, $99,000 par, due 2/1/2022 (1)102,343 
Equifax Inc2.600%, $730,000 par, due 12/1/2024 (1)781,871 
Equifax Inc2.300%, $479,000 par, due 6/1/2021 (1)481,692 
Equifax Inc3.950%, $905,000 par, due 6/15/2023 (1)977,743 
Equinor ASA3.000%, $990,000 par, due 4/6/2027 (1)1,102,217 
Equinor ASA1.750%, $200,000 par, due 1/22/2026 (1)210,096 
ERP Operating LP4.625%, $1,304,000 par, due 12/15/2021 (1)1,341,586 
Ethiopian Leasing 2012 LLC2.566%, $655,298 par, due 8/14/2026 (1)689,378 
    44    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Ethiopian Leasing 2012 LLC2.646%, $1,014,078 par, due 5/12/2026 (1)$1,069,724 
Evergy Metro Inc2.250%, $1,080,000 par, due 6/1/2030 (1)1,144,223 
Experian Finance PLC4.250%, $600,000 par, due 2/1/2029 (1)722,348 
Export Leasing 2009 LLC1.859%, $158,361 par, due 8/28/2021 (1)159,173 
Exxon Mobil Corp2.992%, $1,470,000 par, due 3/19/2025 (1)1,608,921 
Fannie Mae Grantor Trust 2002-T167.000%, $59,513 par, due 7/25/2042 (1)72,269 
Fannie Mae Grantor Trust 2002-T187.000%, $28,988 par, due 8/25/2042 (1)35,640 
Fannie Mae Grantor Trust 2004-T36.000%, $158,921 par, due 2/25/2044 (1)187,123 
Fannie Mae or Freddie Mac2.000%, $12,718,000 par, due 1/1/2051 (1)13,211,319 
Fannie Mae or Freddie Mac2.500%, $3,540,000 par, due 1/1/2051 (1)3,731,659 
Fannie Mae or Freddie Mac2.500%, $3,540,000 par, due 2/1/2051 (1)3,725,450 
Fannie Mae or Freddie Mac2.000%, $13,112,000 par, due 3/1/2051 (1)13,576,060 
Fannie Mae Pool3.500%, $233,731 par, due 8/1/2032 (1)250,349 
Fannie Mae Pool4.000%, $1,051,050 par, due 11/1/2045 (1)1,160,468 
Fannie Mae Pool5.000%, $247,164 par, due 9/1/2033 (1)284,843 
Fannie Mae Pool5.500%, $809,515 par, due 4/1/2033 (1)949,151 
Fannie Mae Pool3.621%, $191,986 par, due 4/1/2036 (1)194,973 
Fannie Mae Pool2.730%, $1,630,864 par, due 1/1/2023 (1)1,698,891 
Fannie Mae Pool3.092%, $579,250 par, due 11/1/2022 (1)594,555 
Fannie Mae Pool2.730%, $1,721,742 par, due 9/1/2023 (1)1,813,146 
Fannie Mae Pool3.080%, $1,100,000 par, due 1/1/2026 (1)1,213,218 
Fannie Mae Pool3.070%, $1,179,396 par, due 2/1/2026 (1)1,301,742 
Fannie Mae Pool3.000%, $1,015,088 par, due 5/1/2031 (1)1,085,545 
Fannie Mae Pool3.815%, $50,994 par, due 1/1/2041 (1)53,161 
Fannie Mae Pool3.750%, $57,237 par, due 3/1/2042 (1)58,815 
Fannie Mae Pool2.190%, $2,384,997 par, due 7/1/2023 (1)2,481,587 
Fannie Mae Pool2.708%, $1,537,442 par, due 4/1/2022 (1)1,555,442 
Fannie Mae Pool2.541%, $1,180,885 par, due 11/1/2022 (1)1,207,307 
Fannie Mae Pool2.548%, $2,713,850 par, due 5/1/2023 (1)2,794,104 
Fannie Mae Pool2.773%, $170,231 par, due 7/1/2035 (1)173,376 
Fannie Mae Pool3.604%, $248,634 par, due 5/1/2036 (1)260,583 
Fannie Mae Pool2.860%, $314,814 par, due 3/1/2044 (1)325,349 
Fannie Mae Pool2.871%, $284,444 par, due 3/1/2044 (1)293,519 
Fannie Mae Pool2.895%, $380,744 par, due 5/1/2044 (1)393,589 
Fannie Mae Pool3.346%, $504,087 par, due 11/1/2048 (1)526,875 
Fannie Mae Pool1.773%, $82,302 par, due 11/1/2041 (1)82,716 
Fannie Mae Pool2.691%, $24,818 par, due 5/1/2036 (1)25,934 
Fannie Mae Pool1.853%, $115,964 par, due 3/1/2034 (1)120,371 
Fannie Mae Pool1.944%, $28,825 par, due 4/1/2044 (1)29,287 
Fannie Mae Pool1.971%, $107,659 par, due 8/1/2034 (1)111,336 
Fannie Mae Pool2.114%, $51,126 par, due 1/1/2035 (1)52,795 
Fannie Mae Pool2.203%, $43,961 par, due 7/1/2035 (1)45,470 
Fannie Mae Pool2.133%, $57,217 par, due 7/1/2035 (1)59,208 
Fannie Mae Pool1.773%, $31,548 par, due 1/1/2037 (1)32,430 
Fannie Mae Pool1.381%, $33,725 par, due 4/1/2037 (1)34,539 
Fannie Mae Pool4.000%, $624,567 par, due 1/1/2041 (1)681,507 
Fannie Mae Pool4.000%, $3,343,847 par, due 11/1/2040 (1)3,647,087 
Fannie Mae Pool4.000%, $4,743,265 par, due 4/1/2041 (1)5,173,346 
Fannie Mae Pool4.000%, $7,987,852 par, due 8/1/2051 (1)8,899,042 
Fannie Mae Pool4.500%, $4,477,491 par, due 1/1/2051 (1)5,023,002 
Fannie Mae Pool3.410%, $1,045,563 par, due 11/1/2023 (1)1,118,486 
Fannie Mae Pool3.120%, $1,155,000 par, due 1/1/2024 (1)1,235,479 
Fannie Mae Pool2.800%, $1,890,000 par, due 4/1/2024 (1)2,011,570 
Fannie Mae Pool3.580%, $3,480,000 par, due 1/1/2026 (1)3,897,819 
Fannie Mae Pool2.890%, $1,937,397 par, due 2/1/2025 (1)2,094,377 
Fannie Mae Pool3.300%, $1,903,187 par, due 3/1/2026 (1)2,111,609 
Fannie Mae Pool2.337%, $2,635,177 par, due 6/1/2022 (1)2,655,336 
Fannie Mae Pool3.357%, $2,369,577 par, due 11/1/2026 (1)2,636,616 
Fannie Mae Pool3.385%, $961,844 par, due 12/1/2027 (1)1,084,239 
Fannie Mae Pool3.080%, $1,764,075 par, due 3/1/2027 (1)1,965,398 
Fannie Mae Pool2.840%, $2,888,412 par, due 1/1/2027 (1)3,182,556 
Fannie Mae Pool2.760%, $1,345,555 par, due 5/1/2025 (1)1,452,959 
Fannie Mae Pool2.510%, $402,769 par, due 7/1/2025 (1)431,436 
Fannie Mae Pool2.080%, $6,380,000 par, due 10/1/2026 (1)6,789,953 
Fannie Mae Pool2.190%, $5,050,000 par, due 11/1/2026 (1)5,408,414 
Fannie Mae Pool3.000%, $2,123,219 par, due 12/1/2049 (1)2,258,759 
Fannie Mae Pool3.000%, $479,563 par, due 2/1/2031 (1)513,733 
Fannie Mae Pool2.500%, $807,293 par, due 6/1/2031 (1)858,559 
    45    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Fannie Mae Pool2.500%, $736,809 par, due 6/1/2031 (1)$784,261 
Fannie Mae Pool2.500%, $823,529 par, due 6/1/2031 (1)875,852 
Fannie Mae Pool2.500%, $839,545 par, due 6/1/2031 (1)895,549 
Fannie Mae Pool5.000%, $352,890 par, due 11/1/2033 (1)407,917 
Fannie Mae Pool5.500%, $102,275 par, due 4/1/2036 (1)120,202 
Fannie Mae Pool6.000%, $29,092 par, due 9/1/2038 (1)30,571 
Fannie Mae Pool5.000%, $489,529 par, due 10/1/2035 (1)568,433 
Fannie Mae Pool5.000%, $778,392 par, due 6/1/2035 (1)903,397 
Fannie Mae Pool5.000%, $1,594,213 par, due 3/1/2036 (1)1,852,759 
Fannie Mae Pool3.000%, $1,213,761 par, due 3/1/2033 (1)1,277,442 
Fannie Mae Pool2.500%, $1,221,525 par, due 9/1/2034 (1)1,280,088 
Fannie Mae Pool2.500%, $2,547,567 par, due 10/1/2034 (1)2,685,688 
Fannie Mae Pool2.500%, $1,976,030 par, due 10/1/2034 (1)2,071,691 
Fannie Mae Pool3.000%, $1,319,067 par, due 1/1/2035 (1)1,419,186 
Fannie Mae Pool3.000%, $1,287,451 par, due 1/1/2035 (1)1,377,907 
Fannie Mae Pool3.000%, $1,025,235 par, due 1/1/2035 (1)1,082,506 
Fannie Mae Pool2.500%, $2,852,200 par, due 12/1/2034 (1)3,019,102 
Fannie Mae Pool4.500%, $2,928,644 par, due 6/1/2056 (1)3,350,820 
Fannie Mae Pool4.500%, $1,852,592 par, due 6/1/2056 (1)2,119,646 
Fannie Mae Pool4.000%, $2,190,081 par, due 6/1/2056 (1)2,441,509 
Fannie Mae Pool4.000%, $3,866,103 par, due 7/1/2056 (1)4,328,689 
Fannie Mae Pool4.500%, $4,882,932 par, due 6/1/2056 (1)5,586,851 
Fannie Mae Pool3.500%, $2,471,550 par, due 11/1/2046 (1)2,668,967 
Fannie Mae Pool4.000%, $2,672,995 par, due 7/1/2056 (1)2,979,847 
Fannie Mae Pool3.500%, $829,568 par, due 4/1/2046 (1)900,740 
Fannie Mae Pool3.000%, $903,183 par, due 7/1/2032 (1)946,644 
Fannie Mae Pool4.500%, $2,253,047 par, due 11/1/2048 (1)2,472,020 
Fannie Mae REMIC Trust 2005-W16.500%, $137,307 par, due 10/25/2044 (1)164,861 
Fannie Mae REMICS5.500%, $217,509 par, due 4/25/2035 (1)254,865 
Fannie Mae Trust 2003-W66.500%, $75,796 par, due 9/25/2042 (1)88,946 
Fannie Mae Trust 2003-W87.000%, $12,526 par, due 10/25/2042 (1)14,988 
Fannie Mae Trust 2004-W27.000%, $77,773 par, due 2/25/2044 (1)91,942 
Fannie Mae-Aces2.614%, $692,354 par, due 10/25/2021 (1)698,899 
Fannie Mae-Aces2.263%, $268,692 par, due 2/25/2023 (1)271,542 
Federal Realty Investment Trust2.750%, $1,632,000 par, due 6/1/2023 (1)1,705,786 
FedEx Corp3.250%, $1,200,000 par, due 4/1/2026 (1)1,340,633 
FedEx Corp4.200%, $1,730,000 par, due 10/17/2028 (1)2,054,797 
Fifth Third Bancorp3.650%, $1,310,000 par, due 1/25/2024 (1)1,428,721 
Fifth Third Bancorp2.375%, $730,000 par, due 1/28/2025 (1)776,895 
Fifth Third Bank NA3.950%, $785,000 par, due 7/28/2025 (1)896,744 
Fiserv Inc3.800%, $1,630,000 par, due 10/1/2023 (1)1,775,389 
Fiserv Inc2.750%, $390,000 par, due 7/1/2024 (1)418,779 
Fiserv Inc3.200%, $570,000 par, due 7/1/2026 (1)638,503 
Florida Gas Transmission Co LLC4.350%, $1,780,000 par, due 7/15/2025 (1)2,021,425 
Florida Water Pollution Control Financing Corp2.300%, $2,650,000 par, due 1/15/2026 (1)2,819,017 
FMC Corp4.100%, $1,000,000 par, due 2/1/2024 (1)1,088,507 
Ford Credit Auto Owner Trust1.060%, $7,395,000 par, due 4/15/2033 (1)7,465,911 
Ford Credit Auto Owner Trust 2017-REV22.360%, $2,617,000 par, due 3/15/2029 (1)2,706,821 
Ford Credit Auto Owner Trust 2020-REV12.040%, $4,800,000 par, due 8/15/2031 (1)5,060,093 
Ford Motor Credit Co LLC3.350%, $1,300,000 par, due 11/1/2022 (1)1,322,750 
Fortune Brands Home & Security Inc4.000%, $983,000 par, due 9/21/2023 (1)1,071,040 
Freddie Mac Gold Pool6.000%, $158,049 par, due 8/1/2038 (1)187,099 
Freddie Mac Gold Pool6.000%, $51,271 par, due 9/1/2038 (1)60,521 
Freddie Mac Gold Pool6.000%, $271,512 par, due 8/1/2038 (1)321,591 
Freddie Mac Gold Pool3.500%, $159,203 par, due 2/1/2043 (1)174,003 
Freddie Mac Gold Pool3.000%, $2,244,608 par, due 1/1/2043 (1)2,387,231 
Freddie Mac Gold Pool4.000%, $1,456,986 par, due 4/1/2046 (1)1,602,098 
Freddie Mac Gold Pool4.000%, $1,156,984 par, due 1/1/2047 (1)1,276,316 
Freddie Mac Gold Pool3.500%, $186,710 par, due 12/1/2025 (1)198,232 
Freddie Mac Gold Pool4.000%, $166,557 par, due 2/1/2026 (1)176,828 
Freddie Mac Gold Pool3.000%, $952,649 par, due 8/1/2027 (1)1,000,307 
Freddie Mac Multifam Struct PT Cert0.633%, $128,494 par, due 9/25/2023 (1)128,755 
Freddie Mac Multifam Struct PT Cert3.062%, $5,800,000 par, due 11/25/2023 (1)6,189,128 
Freddie Mac Multifamily Structured PT Certificates2.862%, $6,240,000 par, due 5/25/2026 (1)6,879,226 
Freddie Mac Multifamily Structured PT Certificates2.282%, $4,105,000 par, due 7/25/2026 (1)4,419,981 
Freddie Mac Non Gold Pool2.882%, $66,853 par, due 12/1/2036 (1)67,960 
Freddie Mac Non Gold Pool2.869%, $407,492 par, due 1/1/2044 (1)421,114 
Freddie Mac Non Gold Pool2.687%, $486,457 par, due 8/1/2044 (1)503,835 
    46    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Freddie Mac Non Gold Pool2.864%, $1,129,935 par, due 7/1/2047 (1)$1,177,123 
Freddie Mac Non Gold Pool2.980%, $334,742 par, due 8/1/2047 (1)349,054 
Freddie Mac Non Gold Pool2.547%, $1,635,260 par, due 10/1/2047 (1)1,705,358 
Freddie Mac Non Gold Pool2.622%, $50,928 par, due 7/1/2034 (1)51,666 
Freddie Mac Non Gold Pool3.531%, $66,478 par, due 2/1/2042 (1)69,197 
Freddie Mac Non Gold Pool2.252%, $29,978 par, due 11/1/2040 (1)31,028 
Freddie Mac Pool2.500%, $10,826,618 par, due 12/1/2034 (1)11,411,613 
Freddie Mac Pool2.500%, $2,426,361 par, due 1/1/2035 (1)2,569,492 
Freddie Mac Pool2.500%, $8,405,455 par, due 1/1/2035 (1)8,869,066 
Freddie Mac Pool3.000%, $899,674 par, due 1/1/2035 (1)958,481 
Freddie Mac Pool3.000%, $870,119 par, due 1/1/2035 (1)936,609 
Freddie Mac Pool3.000%, $712,667 par, due 1/1/2035 (1)751,234 
Freddie Mac Pool2.500%, $2,452,992 par, due 12/1/2034 (1)2,598,133 
Freddie Mac Pool3.500%, $258,820 par, due 8/1/2049 (1)273,061 
Freddie Mac Pool3.000%, $5,514,659 par, due 11/1/2049 (1)5,893,009 
Freddie Mac Pool3.000%, $5,239,413 par, due 12/1/2049 (1)5,598,250 
Freddie Mac Pool3.000%, $5,744,127 par, due 1/1/2050 (1)6,119,098 
Freddie Mac Pool2.000%, $5,789,333 par, due 11/1/2050 (1)6,030,760 
Freddie Struct PT Cert7.000%, $583,140 par, due 7/25/2043 (1)720,130 
General Dynamics Corp3.500%, $160,000 par, due 5/15/2025 (1)178,848 
General Electric Co3.450%, $250,000 par, due 5/1/2027 (1)282,761 
General Mills Inc3.700%, $550,000 par, due 10/17/2023 (1)598,996 
General Mills Inc2.600%, $955,000 par, due 10/12/2022 (1)990,813 
General Mills Inc2.875%, $895,000 par, due 4/15/2030 (1)992,369 
General Motors Financial Co Inc3.550%, $1,260,000 par, due 7/8/2022 (1)1,314,136 
Georgia-Pacific LLC3.734%, $1,725,000 par, due 7/15/2023 (1)1,850,632 
Georgia-Pacific LLC2.100%, $675,000 par, due 4/30/2027 (1)712,634 
Georgia-Pacific LLC3.163%, $275,000 par, due 11/15/2021 (1)280,154 
Ginnie Mae II Pool4.585%, $1,972,553 par, due 3/20/2065 (1)2,182,091 
Ginnie Mae II Pool4.457%, $1,370,637 par, due 1/20/2067 (1)1,568,772 
Ginnie Mae II Pool4.393%, $1,355,753 par, due 12/20/2066 (1)1,550,326 
Ginnie Mae II Pool4.413%, $2,844,636 par, due 2/20/2067 (1)3,237,378 
Ginnie Mae II Pool4.531%, $3,069,380 par, due 1/20/2067 (1)3,507,018 
Ginnie Mae II pool1.520%, $876,116 par, due 6/20/2058 (1)890,184 
Ginnie Mae II pool0.770%, $2,141,876 par, due 5/20/2058 (1)2,168,366 
Ginnie Mae II pool3.000%, $98,478 par, due 3/20/2042 (1)102,292 
GlaxoSmithKline Capital Inc3.625%, $700,000 par, due 5/15/2025 (1)785,931 
GlaxoSmithKline Capital Inc3.375%, $605,000 par, due 5/15/2023 (1)648,175 
GlaxoSmithKline Capital PLC3.000%, $1,270,000 par, due 6/1/2024 (1)1,368,398 
GNMA1.040%, $1,733,343 par, due 12/20/2066 (1)1,763,843 
GNMA1.140%, $3,554,329 par, due 12/20/2066 (1)3,629,165 
GNMA0.790%, $919,673 par, due 10/20/2065 (1)926,657 
Goldman Sachs Group Inc/The5.250%, $500,000 par, due 7/27/2021 (1)514,040 
Goldman Sachs Group Inc/The5.750%, $920,000 par, due 1/24/2022 (1)972,436 
Goldman Sachs Group Inc/The3.500%, $630,000 par, due 1/23/2025 (1)695,305 
Goldman Sachs Group Inc/The3.000%, $2,208,000 par, due 4/26/2022 (1)2,225,916 
Goldman Sachs Group Inc/The3.272%, $1,405,000 par, due 9/29/2025 (1)1,539,072 
Goldman Sachs Group Inc/The2.876%, $677,000 par, due 10/31/2022 (1)690,740 
Goldman Sachs Group Inc/The3.625%, $1,513,000 par, due 2/20/2024 (1)1,646,621 
Government National Mortgage Association0.860%, $6,102,017 par, due 1/20/2069 (1)6,200,217 
GS Mortgage Securities Trust 2013-GC164.271%, $2,004,000 par, due 11/10/2046 (1)2,185,641 
GS Mortgage Securities Trust 2014-GC263.629%, $6,460,000 par, due 11/10/2047 (1)7,109,902 
GSMS 2012-GCJ7 A4 9.2-Yr CMBS3.377%, $1,717,194 par, due 5/10/2045 (1)1,738,265 
Guardian Life Global Funding2.900%, $840,000 par, due 5/6/2024 (1)903,828 
Gulfstream Natural Gas System LLC6.190%, $1,510,000 par, due 11/1/2025 (1)1,819,003 
Halliburton Co3.800%, $106,000 par, due 11/15/2025 (1)118,881 
Halliburton Co3.500%, $22,000 par, due 8/1/2023 (1)23,507 
Halliburton Co2.920%, $1,730,000 par, due 3/1/2030 (1)1,823,330 
Healthcare Trust of America Holdings LP3.500%, $580,000 par, due 8/1/2026 (1)656,818 
Healthpeak Properties Inc2.875%, $1,470,000 par, due 1/15/2031 (1)1,584,406 
Healthpeak Properties Inc3.500%, $580,000 par, due 7/15/2029 (1)657,916 
Healthpeak Properties Inc3.250%, $750,000 par, due 7/15/2026 (1)846,629 
Heineken NV3.500%, $960,000 par, due 1/29/2028 (1)1,092,509 
Helios Leasing I LLC1.562%, $333,973 par, due 9/28/2024 (1)341,821 
Hewlett Packard Enterprise Co4.650%, $1,730,000 par, due 10/1/2024 (1)1,963,723 
Hewlett Packard Enterprise Co0.974%, $154,000 par, due 10/5/2021 (1)154,022 
Hexcel Corp3.950%, $1,230,000 par, due 2/15/2027 (1)1,329,482 
Home Depot Inc/The2.700%, $365,000 par, due 4/15/2030 (1)407,381 
    47    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Honda Auto Receivables 2018-2 Owner Trust3.010%, $1,036,910 par, due 5/18/2022 (1)$1,045,555 
HOUSTON TX UTILITY SYS REVENUE 3.973%, $685,000 par, due 11/15/2031 (1)811,259 
HSBC Holdings PLC3.950%, $281,000 par, due 5/18/2024 (1)303,105 
HSBC Holdings PLC2.013%, $2,200,000 par, due 9/22/2028 (1)2,252,199 
HSBC Holdings PLC3.803%, $2,187,000 par, due 3/11/2025 (1)2,387,821 
HSBC Holdings PLC3.262%, $1,530,000 par, due 3/13/2023 (1)1,580,407 
HSBC Holdings PLC4.292%, $2,280,000 par, due 9/12/2026 (1)2,598,470 
HSBC Holdings PLC3.033%, $940,000 par, due 11/22/2023 (1)987,730 
HSBC Holdings PLC4.583%, $400,000 par, due 6/19/2029 (1)473,221 
Huntington National Bank/The3.550%, $1,511,000 par, due 10/6/2023 (1)1,635,952 
IBM Credit LLC3.000%, $473,000 par, due 2/6/2023 (1)500,918 
Ingredion Inc3.200%, $600,000 par, due 10/1/2026 (1)667,407 
Intel Corp3.900%, $2,770,000 par, due 3/25/2030 (1)3,324,072 
International Business Machines Corp3.000%, $4,812,000 par, due 5/15/2024 (1)5,212,748 
Interstate Power and Light Co3.250%, $870,000 par, due 12/1/2024 (1)953,081 
Jackson National Life Global Funding2.650%, $1,470,000 par, due 6/21/2024 (1)1,565,425 
JobsOhio Beverage System2.833%, $610,000 par, due 1/1/2038 (1)657,983 
John Deere Capital Corp1.750%, $465,000 par, due 3/9/2027 (1)488,299 
John Deere Capital Corp3.450%, $480,000 par, due 1/10/2024 (1)523,416 
Johns Hopkins Health System Corp/The2.420%, $935,000 par, due 1/1/2030 (1)981,958 
JPMBB Commercial Mortgage Sec Trust 2014-C243.639%, $3,400,000 par, due 11/15/2047 (1)3,730,273 
JPMBB Commercial Mortgage Sec Trust 2014-C263.494%, $2,245,000 par, due 1/15/2048 (1)2,468,245 
JPMorgan Chase & Co2.182%, $2,500,000 par, due 6/1/2028 (1)2,653,693 
JPMorgan Chase & Co4.452%, $1,370,000 par, due 12/5/2029 (1)1,671,542 
JPMorgan Chase & Co3.207%, $610,000 par, due 4/1/2023 (1)632,151 
JPMorgan Chase & Co2.301%, $1,010,000 par, due 10/15/2025 (1)1,072,141 
JPMorgan Chase & Co3.559%, $1,240,000 par, due 4/23/2024 (1)1,329,052 
JPMorgan Chase & Co2.776%, $1,691,000 par, due 4/25/2023 (1)1,745,678 
JPMorgan Chase & Co3.960%, $890,000 par, due 1/29/2027 (1)1,022,687 
JPMorgan Chase & Co3.125%, $800,000 par, due 1/23/2025 (1)876,207 
JPMorgan Chase & Co4.203%, $810,000 par, due 7/23/2029 (1)968,426 
JPMorgan Chase & Co3.797%, $121,000 par, due 7/23/2024 (1)131,255 
JPMorgan Chase & Co3.782%, $770,000 par, due 2/1/2028 (1)885,013 
JPMorgan Chase Comml Mtg Sec Tr4.166%, $770,000 par, due 12/15/2046 (1)836,245 
JPMorgan Comm Mtg Sec Tr4.388%, $527,143 par, due 7/15/2046 (1)530,945 
JPMorgan Comm Mtg Sec Tr3.143%, $2,461,239 par, due 12/15/2047 (1)2,570,693 
JPMorgan Comm Mtg Sec Tr4.070%, $537,578 par, due 11/15/2043 (1)537,053 
JPMorgan Comm Mtg Sec Tr4.717%, $528,326 par, due 2/15/2046 (1)529,833 
JPMorgan Comm Mtg Sec Tr3.483%, $1,064,204 par, due 6/15/2045 (1)1,080,976 
Kellogg Co3.400%, $690,000 par, due 11/15/2027 (1)780,385 
Kentucky Higher Education Student Loan Corp1.349%, $5,105,000 par, due 11/25/2050 (1)5,130,066 
KeyBank NA/Cleveland OH3.400%, $1,320,000 par, due 5/20/2026 (1)1,482,058 
KeyCorp2.250%, $840,000 par, due 4/6/2027 (1)896,146 
Kimco Realty Corp2.700%, $330,000 par, due 3/1/2024 (1)348,329 
KLA Corp4.100%, $230,000 par, due 3/15/2029 (1)275,646 
Lake Central Multi-District School Building Corp1.651%, $1,695,000 par, due 7/15/2028 (1)1,760,969 
Lake Orion Community School District2.434%, $2,250,000 par, due 5/1/2026 (1)2,449,395 
Lam Research Corp3.750%, $550,000 par, due 3/15/2026 (1)628,671 
Lam Research Corp4.000%, $270,000 par, due 3/15/2029 (1)323,891 
Leland Stanford Junior University/The1.289%, $975,000 par, due 6/1/2027 (1)1,003,745 
Lennox International Inc1.350%, $1,190,000 par, due 8/1/2025 (1)1,217,381 
Lennox International Inc1.700%, $490,000 par, due 8/1/2027 (1)498,653 
Los Angeles Community College District/CA1.606%, $2,080,000 par, due 8/1/2028 (1)2,157,792 
M&T Bank Corp0.895%, $560,000 par, due 7/26/2023 (1)565,046 
Magellan Midstream Partners LP5.000%, $1,005,000 par, due 3/1/2026 (1)1,197,719 
Marathon Oil Corp4.400%, $1,600,000 par, due 7/15/2027 (1)1,778,610 
Marathon Oil Corp3.850%, $850,000 par, due 6/1/2025 (1)911,158 
Marathon Petroleum Corp4.700%, $1,470,000 par, due 5/1/2025 (1)1,683,966 
Marsh & McLennan Cos Inc4.375%, $1,320,000 par, due 3/15/2029 (1)1,607,133 
Marsh & McLennan Cos Inc3.300%, $1,020,000 par, due 3/14/2023 (1)1,079,882 
Marsh & McLennan Cos Inc2.750%, $275,000 par, due 1/30/2022 (1)281,538 
Martin Marietta Materials Inc2.500%, $670,000 par, due 3/15/2030 (1)713,862 
Masco Corp2.000%, $1,790,000 par, due 10/1/2030 (1)1,822,442 
Massachusetts Institute of Technology3.959%, $500,000 par, due 7/1/2038 (1)623,660 
Massachusetts School Building Authority1.134%, $2,115,000 par, due 8/15/2026 (1)2,143,362 
MassMutual Global Funding II3.400%, $4,845,000 par, due 3/8/2026 (1)5,444,990 
Maxim Integrated Products Inc3.375%, $1,216,000 par, due 3/15/2023 (1)1,280,138 
Maxim Integrated Products Inc3.450%, $310,000 par, due 6/15/2027 (1)347,667 
    48    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
McCormick & Co Inc/MD3.400%, $1,230,000 par, due 8/15/2027 (1)$1,382,230 
McCormick & Co Inc/MD2.700%, $734,000 par, due 8/15/2022 (1)759,880 
McCormick & Co Inc/MD3.150%, $2,220,000 par, due 8/15/2024 (1)2,406,671 
McDonald's Corp1.450%, $990,000 par, due 9/1/2025 (1)1,026,636 
McDonald's Corp3.600%, $365,000 par, due 7/1/2030 (1)427,798 
McDonald's Corp3.500%, $780,000 par, due 7/1/2027 (1)894,765 
MD Comm Dev Admin Housing Rev3.500%, $290,000 par, due 9/1/2047 (1)299,208 
Medtronic Inc3.500%, $959,000 par, due 3/15/2025 (1)1,076,202 
METLIFE SECURITIZATION TRUST 2019-13.750%, $1,554,778 par, due 4/25/2058 (1)1,666,675 
Microchip Technology Inc4.333%, $1,140,000 par, due 6/1/2023 (1)1,234,065 
Mid-America Apartments LP3.950%, $420,000 par, due 3/15/2029 (1)492,337 
Mid-America Apartments LP1.700%, $550,000 par, due 2/15/2031 (1)547,973 
Mill City Mortgage Loan Trust 2017-12.750%, $155,294 par, due 11/25/2058 (1)157,658 
Missouri Higher Ed Ln Auth1.057%, $396,527 par, due 8/26/2030 (1)391,265 
Missouri Higher Ed Ln Auth1.257%, $591,848 par, due 2/25/2036 (1)593,387 
Mitsubishi UFJ Financial Group Inc2.665%, $1,127,000 par, due 7/25/2022 (1)1,166,009 
Mitsubishi UFJ Financial Group Inc3.455%, $511,000 par, due 3/2/2023 (1)544,466 
Mitsubishi UFJ Financial Group Inc3.761%, $1,271,000 par, due 7/26/2023 (1)1,377,957 
Mitsubishi UFJ Financial Group Inc3.407%, $830,000 par, due 3/7/2024 (1)901,966 
Mitsubishi UFJ Financial Group Inc2.193%, $1,600,000 par, due 2/25/2025 (1)1,690,234 
MMAF Equipment Finance LLC 2017-A2.680%, $2,695,000 par, due 7/16/2027 (1)2,797,919 
MMAF Equipment Finance LLC 2017-A2.410%, $418,135 par, due 8/16/2024 (1)422,775 
MMAF Equipment Finance LLC 2017-B2.410%, $1,910,000 par, due 11/15/2024 (1)1,931,220 
MMAF Equipment Finance LLC 2018-A3.390%, $1,250,000 par, due 1/10/2025 (1)1,296,384 
MMAF Equipment Finance LLC 2019-A2.930%, $1,805,000 par, due 3/10/2026 (1)1,898,495 
MMAF Equipment Finance LLC 2019-B2.010%, $4,090,000 par, due 12/12/2024 (1)4,209,878 
MO State Higher Ed Std Asst1.152%, $1,851,566 par, due 5/20/2030 (1)1,854,521 
Mondelez International Holdings Netherlands BV2.250%, $1,315,000 par, due 9/19/2024 (1)1,385,118 
Monongahela Power Co4.100%, $2,137,000 par, due 4/15/2024 (1)2,302,438 
Morgan Stanley2.188%, $1,280,000 par, due 4/28/2026 (1)1,351,990 
Morgan Stanley3.950%, $600,000 par, due 4/23/2027 (1)693,689 
Morgan Stanley3.875%, $940,000 par, due 1/27/2026 (1)1,078,250 
Morgan Stanley3.625%, $2,465,000 par, due 1/20/2027 (1)2,822,957 
Morgan Stanley3.750%, $500,000 par, due 2/25/2023 (1)536,086 
Morgan Stanley4.431%, $610,000 par, due 1/23/2030 (1)742,008 
Morgan Stanley3.875%, $83,000 par, due 4/29/2024 (1)91,949 
Morgan Stanley2.720%, $540,000 par, due 7/22/2025 (1)577,572 
Morgan Stanley3.700%, $1,000,000 par, due 10/23/2024 (1)1,112,798 
Morgan Stanley BAML Trust2.858%, $1,683,755 par, due 11/15/2045 (1)1,733,897 
Morgan Stanley BAML Trust3.102%, $2,170,000 par, due 5/15/2046 (1)2,276,111 
Morgan Stanley BAML Trust3.176%, $2,400,000 par, due 8/15/2045 (1)2,474,014 
Morgan Stanley BAML Trust 2014 C193.526%, $3,020,000 par, due 12/15/2047 (1)3,308,482 
Morgan Stanley BAML Trust 2014-C154.051%, $1,155,000 par, due 4/15/2047 (1)1,261,898 
MPLX LP4.000%, $490,000 par, due 3/15/2028 (1)563,776 
MPLX LP1.750%, $810,000 par, due 3/1/2026 (1)838,273 
MS State Higher Ed Asst Co0.828%, $804,326 par, due 10/25/2035 (1)799,623 
National Retail Properties Inc3.900%, $1,590,000 par, due 6/15/2024 (1)1,729,589 
National Retail Properties Inc4.300%, $650,000 par, due 10/15/2028 (1)753,511 
Navient Student Loan Trust 2016-60.898%, $299,207 par, due 3/25/2066 (1)299,800 
NC State Edu Asst Auth0.648%, $635,279 par, due 12/26/2039 (1)631,906 
New York and Presbyterian Hospital/The3.563%, $875,000 par, due 8/1/2036 (1)971,610 
New York Hospital for Special Surgery3.737%, $285,000 par, due 4/1/2028 (1)320,506 
New York Life Global Funding2.000%, $3,220,000 par, due 1/22/2025 (1)3,387,865 
New York State Dormitory Authority2.657%, $1,535,000 par, due 2/15/2028 (1)1,685,722 
New York State Urban Development Corp3.270%, $1,000,000 par, due 3/15/2027 (1)1,125,480 
NextEra Energy Capital Holdings Inc3.150%, $1,359,000 par, due 4/1/2024 (1)1,469,071 
Norfolk Southern Corp3.650%, $460,000 par, due 8/1/2025 (1)514,182 
North Carolina Housing Finance Agency2.870%, $470,000 par, due 7/1/2032 (1)480,157 
North TX Highed Ed Auth1.155%, $2,127,876 par, due 12/1/2034 (1)2,140,175 
Northern States Power Co/MN2.600%, $1,965,000 par, due 5/15/2023 (1)2,046,862 
Northern States Power Co/WI3.300%, $1,100,000 par, due 6/15/2024 (1)1,184,920 
Northrop Grumman Corp4.400%, $465,000 par, due 5/1/2030 (1)577,180 
Northrop Grumman Corp2.930%, $580,000 par, due 1/15/2025 (1)630,840 
Northrop Grumman Corp3.250%, $1,865,000 par, due 1/15/2028 (1)2,108,966 
Northstar Edu Fin Inc0.848%, $226,986 par, due 12/26/2031 (1)227,702 
Nutrien Ltd2.950%, $540,000 par, due 5/13/2030 (1)593,855 
NYC Transit Fin Auth Future Tax Rev3.430%, $1,500,000 par, due 8/1/2026 (1)1,701,210 
Occidental Petroleum Corp3.200%, $1,140,000 par, due 8/15/2026 (1)1,065,900 
    49    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Oncor Electric Delivery Co LLC2.750%, $2,652,000 par, due 6/1/2024 (1)$2,844,233 
Oncor Electric Delivery Co LLC2.750%, $1,160,000 par, due 5/15/2030 (1)1,298,802 
Oracle Corp2.950%, $2,220,000 par, due 11/15/2024 (1)2,415,267 
Oracle Corp2.950%, $2,465,000 par, due 4/1/2030 (1)2,756,208 
Oracle Corp2.650%, $1,300,000 par, due 7/15/2026 (1)1,428,619 
Orlando Health Obligated Group3.777%, $1,000,000 par, due 10/1/2028 (1)1,130,764 
Orlando Health Obligated Group2.291%, $1,250,000 par, due 10/1/2028 (1)1,267,300 
Otis Worldwide Corp2.056%, $1,625,000 par, due 4/5/2025 (1)1,722,245 
PA State Higher Ed Asst0.698%, $133,812 par, due 4/25/2030 (1)132,420 
PacifiCorp3.500%, $506,000 par, due 6/15/2029 (1)583,288 
PacifiCorp2.700%, $475,000 par, due 9/15/2030 (1)522,038 
PacifiCorp3.600%, $1,385,000 par, due 4/1/2024 (1)1,508,931 
Packaging Corp of America4.500%, $720,000 par, due 11/1/2023 (1)794,004 
Packaging Corp of America3.400%, $1,100,000 par, due 12/15/2027 (1)1,239,363 
Parker-Hannifin Corp2.700%, $884,000 par, due 6/14/2024 (1)948,085 
Parker-Hannifin Corp3.300%, $1,600,000 par, due 11/21/2024 (1)1,752,619 
Parker-Hannifin Corp3.500%, $680,000 par, due 9/15/2022 (1)714,152 
PECO Energy Co2.375%, $832,000 par, due 9/15/2022 (1)857,076 
PepsiCo Inc2.625%, $680,000 par, due 3/19/2027 (1)748,163 
Pernod Ricard International Finance LLC1.250%, $860,000 par, due 4/1/2028 (1)851,716 
Petroleos Mexicanos2.378%, $900,000 par, due 4/15/2025 (1)937,567 
Petroleos Mexicanos2.290%, $341,250 par, due 2/15/2024 (1)351,385 
Petroleos Mexicanos2.000%, $705,000 par, due 12/20/2022 (1)718,326 
Petroleos Mexicanos1.950%, $220,000 par, due 12/20/2022 (1)224,024 
PHEAA Student Loan Trust 2016-21.098%, $1,744,486 par, due 11/25/2065 (1)1,746,611 
Phillips 664.300%, $700,000 par, due 4/1/2022 (1)733,086 
Phillips 663.900%, $1,210,000 par, due 3/15/2028 (1)1,393,294 
PNC Bank NA3.500%, $1,430,000 par, due 6/8/2023 (1)1,535,126 
PNC Bank NA3.250%, $1,030,000 par, due 6/1/2025 (1)1,143,719 
PNC Bank NA4.050%, $1,030,000 par, due 7/26/2028 (1)1,220,493 
PPG Industries Inc2.400%, $1,050,000 par, due 8/15/2024 (1)1,112,241 
PPG Industries Inc2.550%, $1,330,000 par, due 6/15/2030 (1)1,428,782 
Pricoa Global Funding I2.400%, $3,080,000 par, due 9/23/2024 (1)3,269,325 
Providence Health & Services Obligated Group4.379%, $275,000 par, due 10/1/2023 (1)302,357 
Providence St Joseph Health Obligated Group2.532%, $1,355,000 par, due 10/1/2029 (1)1,449,872 
Providence St Joseph Health Obligated Group2.746%, $1,242,000 par, due 10/1/2026 (1)1,355,750 
PSNH Funding LLC 33.506%, $900,000 par, due 8/1/2028 (1)1,006,292 
Public Service Electric and Gas Co2.375%, $2,060,000 par, due 5/15/2023 (1)2,152,000 
Public Service Electric and Gas Co3.250%, $275,000 par, due 9/1/2023 (1)294,448 
Raytheon Technologies Corp3.700%, $1,635,000 par, due 12/15/2023 (1)1,777,866 
Raytheon Technologies Corp2.250%, $970,000 par, due 7/1/2030 (1)1,030,328 
Reckitt Benckiser Treasury Services PLC2.375%, $281,000 par, due 6/24/2022 (1)288,968 
Reckitt Benckiser Treasury Services PLC2.750%, $1,680,000 par, due 6/26/2024 (1)1,796,701 
RELX Capital Inc3.000%, $220,000 par, due 5/22/2030 (1)244,293 
RELX Capital Inc4.000%, $480,000 par, due 3/18/2029 (1)569,808 
RELX Capital Inc3.500%, $740,000 par, due 3/16/2023 (1)787,043 
RI State Std Ln Authority0.805%, $2,309,539 par, due 9/1/2036 (1)2,308,314 
Rochester Gas and Electric Corp3.100%, $2,070,000 par, due 6/1/2027 (1)2,288,470 
Rogers Communications Inc3.625%, $775,000 par, due 12/15/2025 (1)877,361 
Rolls-Royce PLC3.625%, $780,000 par, due 10/14/2025 (1)785,850 
Roper Technologies Inc2.350%, $340,000 par, due 9/15/2024 (1)362,840 
Roper Technologies Inc3.650%, $1,303,000 par, due 9/15/2023 (1)1,413,811 
Roper Technologies Inc1.000%, $430,000 par, due 9/15/2025 (1)435,188 
Roper Technologies Inc3.800%, $500,000 par, due 12/15/2026 (1)577,661 
Royal Bank of Canada4.650%, $380,000 par, due 1/27/2026 (1)448,601 
Royal Bank of Canada3.700%, $3,731,000 par, due 10/5/2023 (1)4,067,976 
Ryder System Inc3.650%, $1,703,000 par, due 3/18/2024 (1)1,860,914 
San Bernardino Community College District2.540%, $2,035,000 par, due 8/1/2027 (1)2,224,499 
San Diego Community College District2.807%, $3,020,000 par, due 8/1/2032 (1)3,273,408 
San Jose Evergreen Community College District2.440%, $1,100,000 par, due 8/1/2029 (1)1,187,967 
San Jose Redevelopment Agency Successor Agency3.375%, $1,530,000 par, due 8/1/2034 (1)1,644,062 
San Marcos Consolidated ISD3.163%, $835,000 par, due 8/1/2026 (1)930,875 
SBA Small Business Investment Cos2.283%, $3,605,000 par, due 9/10/2029 (1)3,755,145 
SBA Small Business Investment Cos3.191%, $685,326 par, due 3/10/2024 (1)708,014 
SBA Small Business Investment Cos3.015%, $468,425 par, due 9/10/2024 (1)485,809 
SBA Small Business Investment Cos2.517%, $2,299,133 par, due 3/10/2025 (1)2,374,800 
SBA Small Business Investment Cos2.829%, $2,268,255 par, due 9/10/2025 (1)2,388,127 
SBA Small Business Investment Cos2.507%, $2,111,867 par, due 3/10/2026 (1)2,208,159 
    50    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
SBA Small Business Investment Cos2.845%, $7,312,290 par, due 3/10/2027 (1)$7,766,976 
SBA Small Business Investment Cos2.518%, $3,668,254 par, due 9/10/2027 (1)3,855,339 
SBA Small Business Investment Cos3.548%, $4,564,216 par, due 9/10/2028 (1)4,974,288 
SBA Small Business Investment Cos3.113%, $4,877,343 par, due 3/10/2029 (1)5,188,006 
SBA Small Business Investment Cos2.078%, $4,411,529 par, due 3/10/2030 (1)4,534,157 
SC State Std Ln Corp0.905%, $1,608,693 par, due 5/1/2030 (1)1,607,797 
SC State Std Ln Corp0.648%, $180,598 par, due 1/25/2041 (1)179,373 
SC State Std Ln Corp1.318%, $740,708 par, due 10/27/2036 (1)745,581 
Schlumberger Finance Canada Ltd2.650%, $620,000 par, due 11/20/2022 (1)643,123 
Seasoned Credit Risk Transfer Trust Series 2018-33.500%, $4,904,999 par, due 8/25/2057 (1)5,312,193 
Seasoned Credit Risk Transfer Trust Series 2019-14.000%, $2,025,502 par, due 7/25/2058 (1)2,227,616 
Seasoned Credit Risk Transfer Trust Series 2019-24.000%, $2,407,921 par, due 8/25/2058 (1)2,664,273 
Seasoned Credit Risk Transfer Trust Series 2020-22.000%, $6,142,909 par, due 11/25/2059 (1)6,331,416 
Seasoned Credit Risk Transfer Trust Series 2020-32.500%, $5,785,659 par, due 5/25/2060 (1)6,110,402 
Sempra Energy2.900%, $456,000 par, due 2/1/2023 (1)478,422 
Sequoia Union High School District5.932%, $1,000,000 par, due 7/1/2025 (1)1,240,410 
Shell International Finance BV3.250%, $395,000 par, due 5/11/2025 (1)437,829 
Shell International Finance BV3.500%, $1,976,000 par, due 11/13/2023 (1)2,150,989 
Shell International Finance BV2.750%, $1,110,000 par, due 4/6/2030 (1)1,228,031 
Sherwin-Williams Co/The2.750%, $27,000 par, due 6/1/2022 (1)27,860 
Sherwin-Williams Co/The3.450%, $860,000 par, due 6/1/2027 (1)971,576 
Sherwin-Williams Co/The3.300%, $911,000 par, due 2/1/2025 (1)987,782 
Sherwin-Williams Co/The2.950%, $500,000 par, due 8/15/2029 (1)550,168 
Sherwin-Williams Co/The2.300%, $700,000 par, due 5/15/2030 (1)731,001 
Shire Acquisitions Investments Ireland DAC2.400%, $203,000 par, due 9/23/2021 (1)205,647 
Simon Property Group LP3.375%, $1,000,000 par, due 10/1/2024 (1)1,087,418 
Simon Property Group LP2.000%, $1,620,000 par, due 9/13/2024 (1)1,692,986 
SMALL BUSINESS ADMINISTRATION2.130%, $555,592 par, due 1/1/2033 (1)573,707 
Southern California Edison Co2.400%, $570,000 par, due 2/1/2022 (1)579,605 
South-Western City School District2.237%, $3,540,000 par, due 12/1/2025 (1)3,768,436 
Stanford Health Care3.310%, $560,000 par, due 8/15/2030 (1)637,767 
Stanley Black & Decker Inc3.400%, $1,630,000 par, due 3/1/2026 (1)1,845,740 
Starbucks Corp2.000%, $715,000 par, due 3/12/2027 (1)758,729 
State of California2.375%, $2,750,000 par, due 10/1/2026 (1)2,999,398 
State of Delaware4.550%, $1,000,000 par, due 7/1/2029 (1)1,266,190 
State of Hawaii1.518%, $2,300,000 par, due 10/1/2028 (1)2,363,572 
State of Louisiana1.434%, $2,630,000 par, due 6/1/2028 (1)2,675,999 
State of Louisiana Gasoline & Fuels Tax Revenue1.898%, $1,500,000 par, due 5/1/2031 (1)1,532,055 
State of New York2.260%, $4,380,000 par, due 2/15/2026 (1)4,627,820 
State of Oregon1.967%, $1,620,000 par, due 11/1/2026 (1)1,732,153 
State of Oregon Department of Transportation1.330%, $925,000 par, due 11/15/2028 (1)939,791 
State of Texas4.631%, $1,250,000 par, due 4/1/2033 (1)1,594,038 
State of Texas2.704%, $2,410,000 par, due 4/1/2031 (1)2,662,472 
State of Utah4.554%, $215,000 par, due 7/1/2024 (1)232,417 
State of Utah3.539%, $2,410,000 par, due 7/1/2025 (1)2,621,887 
State of Washington5.040%, $1,000,000 par, due 8/1/2031 (1)1,269,930 
State of Wisconsin2.501%, $2,000,000 par, due 5/1/2032 (1)2,205,160 
State Street Corp2.653%, $2,470,000 par, due 5/15/2023 (1)2,547,210 
State Street Corp3.776%, $567,000 par, due 12/3/2024 (1)623,320 
Student Loan Corp1.015%, $604,238 par, due 4/25/2037 (1)607,374 
Student Loan Corp0.848%, $501,473 par, due 7/25/2036 (1)497,447 
Sumitomo Mitsui Financial Group Inc3.936%, $2,467,000 par, due 10/16/2023 (1)2,702,941 
Sumitomo Mitsui Financial Group Inc2.348%, $3,180,000 par, due 1/15/2025 (1)3,374,301 
Sutter Health3.695%, $750,000 par, due 8/15/2028 (1)850,352 
Tagua Leasing LLC1.732%, $2,356,205 par, due 9/18/2024 (1)2,418,875 
Tamalpais Union High School District2.265%, $3,295,000 par, due 8/1/2026 (1)3,521,762 
Tayarra Ltd3.628%, $228,380 par, due 2/15/2022 (1)232,552 
Teva Pharmaceutical Finance Netherlands III BV2.200%, $1,280,000 par, due 7/21/2021 (1)1,276,800 
Texas A&M University3.256%, $750,000 par, due 5/15/2029 (1)839,535 
Texas A&M University3.477%, $1,000,000 par, due 5/15/2031 (1)1,136,760 
Texas Transportation Commission1.533%, $2,010,000 par, due 10/1/2029 (1)2,070,561 
Texas Transportation Commission State Highway Fund5.178%, $1,200,000 par, due 4/1/2030 (1)1,547,448 
Thermo Fisher Scientific Inc4.497%, $540,000 par, due 3/25/2030 (1)674,877 
Toronto-Dominion Bank/The0.750%, $1,260,000 par, due 9/11/2025 (1)1,264,714 
Toronto-Dominion Bank/The2.250%, $1,331,000 par, due 3/15/2021 (1)1,336,432 
Toronto-Dominion Bank/The3.350%, $430,000 par, due 10/22/2021 (1)440,446 
Toronto-Dominion Bank/The3.250%, $1,908,000 par, due 3/11/2024 (1)2,072,107 
Total Capital International SA2.434%, $250,000 par, due 1/10/2025 (1)266,834 
    51    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Total Capital International SA3.700%, $793,000 par, due 1/15/2024 (1)$868,694 
Towd Point Mortgage Trust 2015-63.500%, $162,495 par, due 4/25/2055 (1)166,050 
Towd Point Mortgage Trust 2016-12.750%, $201,208 par, due 2/25/2055 (1)203,395 
Towd Point Mortgage Trust 2016-32.250%, $468,234 par, due 4/25/2056 (1)472,676 
Towd Point Mortgage Trust 2016-42.250%, $77,124 par, due 7/25/2056 (1)78,316 
Towd Point Mortgage Trust 2017-12.750%, $1,247,685 par, due 10/25/2056 (1)1,278,755 
Towd Point Mortgage Trust 2017-50.748%, $114,216 par, due 2/25/2057 (1)113,850 
Towd Point Mortgage Trust 2017-62.750%, $127,724 par, due 10/25/2057 (1)131,502 
Towd Point Mortgage Trust 2019-42.900%, $5,919,854 par, due 10/25/2059 (1)6,248,755 
Towd Point Mortgage Trust 2019-HY11.148%, $1,552,880 par, due 10/25/2048 (1)1,558,916 
Towd Point Mortgage Trust 2019-HY21.148%, $1,368,039 par, due 5/25/2058 (1)1,377,043 
Toyota Auto Loan Extended Note Trust 2019-12.560%, $3,255,000 par, due 11/25/2031 (1)3,476,037 
Toyota Auto Loan Extended Note Trust 2020-11.350%, $3,875,000 par, due 5/25/2033 (1)3,990,037 
Toyota Motor Corp2.358%, $690,000 par, due 7/2/2024 (1)732,196 
Toyota Motor Corp3.419%, $495,000 par, due 7/20/2023 (1)533,434 
Toyota Motor Credit Corp2.800%, $575,000 par, due 7/13/2022 (1)596,779 
Toyota Motor Credit Corp3.450%, $1,960,000 par, due 9/20/2023 (1)2,123,642 
Trane Technologies Luxembourg Finance SA3.500%, $1,310,000 par, due 3/21/2026 (1)1,477,291 
Trinity Health3.084%, $2,235,000 par, due 12/1/2034 (1)2,467,060 
Truist Bank2.150%, $1,390,000 par, due 12/6/2024 (1)1,473,166 
Truist Bank3.200%, $1,935,000 par, due 4/1/2024 (1)2,100,373 
Truist Financial Corp4.000%, $390,000 par, due 5/1/2025 (1)441,622 
Truist Financial Corp3.050%, $760,000 par, due 6/20/2022 (1)788,806 
TSMC Global Ltd1.000%, $1,370,000 par, due 9/28/2027 (1)1,356,725 
UBS Commercial Mortgage Trust 2012-C13.400%, $546,758 par, due 5/10/2045 (1)557,296 
UBS Group AG3.491%, $1,850,000 par, due 5/23/2023 (1)1,925,153 
UBS Group AG2.859%, $340,000 par, due 8/15/2023 (1)352,468 
UBS-Barclays Commercial Mortgage Trust 2012-C42.850%, $4,770,000 par, due 12/10/2045 (1)4,944,396 
UDR Inc4.000%, $930,000 par, due 10/1/2025 (1)1,055,412 
Unilever Capital Corp3.250%, $720,000 par, due 3/7/2024 (1)781,865 
Union Electric Co2.950%, $1,460,000 par, due 3/15/2030 (1)1,629,361 
Union Electric Co2.950%, $850,000 par, due 6/15/2027 (1)938,797 
Union Pacific Corp3.500%, $457,000 par, due 6/8/2023 (1)489,936 
Union Pacific Corp2.950%, $481,000 par, due 1/15/2023 (1)502,757 
Union Pacific Corp3.750%, $2,160,000 par, due 7/15/2025 (1)2,450,971 
United States Small Business Administration3.230%, $901,748 par, due 2/1/2034 (1)970,218 
United States Small Business Administration5.540%, $77,013 par, due 9/1/2026 (1)82,453 
United States Small Business Administration5.600%, $340,210 par, due 9/1/2028 (1)373,028 
United States Small Business Administration3.210%, $902,064 par, due 3/1/2034 (1)967,646 
United States Small Business Administration5.630%, $382,854 par, due 10/1/2028 (1)421,966 
United States Small Business Administration3.370%, $2,258,190 par, due 10/1/2033 (1)2,432,846 
United States Small Business Administration2.840%, $2,682,920 par, due 4/1/2037 (1)2,895,742 
United States Small Business Administration2.850%, $2,227,510 par, due 10/1/2037 (1)2,379,631 
United States Small Business Administration5.340%, $11,216 par, due 11/1/2021 (1)11,405 
United States Small Business Administration5.510%, $217,429 par, due 11/1/2027 (1)239,609 
United States Small Business Administration5.310%, $232,770 par, due 5/1/2027 (1)252,806 
United States Small Business Administration6.770%, $125,115 par, due 11/1/2028 (1)139,914 
United States Small Business Administration5.680%, $130,245 par, due 6/1/2028 (1)143,777 
United States Small Business Administration2.980%, $1,326,092 par, due 6/1/2035 (1)1,435,748 
United States Small Business Administration2.810%, $560,219 par, due 12/1/2036 (1)597,447 
United States Small Business Administration2.810%, $2,973,481 par, due 6/1/2037 (1)3,184,461 
United States Small Business Administration2.780%, $2,733,178 par, due 12/1/2037 (1)2,930,374 
United States Small Business Administration3.150%, $1,408,225 par, due 7/1/2033 (1)1,503,172 
United States Small Business Administration2.800%, $1,482,724 par, due 1/1/2037 (1)1,598,633 
United States Small Business Administration2.980%, $1,227,515 par, due 7/1/2037 (1)1,319,548 
United States Small Business Administration2.880%, $940,880 par, due 7/1/2035 (1)1,013,684 
United States Small Business Administration5.720%, $1,068,689 par, due 1/1/2029 (1)1,179,301 
United States Treasury Note/Bond2.750%, $800,000 par, due 6/30/2025 (1)887,094 
United States Treasury Note/Bond0.875%, $14,894,000 par, due 11/15/2030 (1)14,845,133 
United States Treasury Note/Bond1.500%, $1,500,000 par, due 11/30/2024 (1)1,572,950 
United States Treasury Note/Bond2.125%, $2,250,000 par, due 5/31/2026 (1)2,456,280 
United States Treasury Note/Bond2.125%, $2,175,000 par, due 11/30/2024 (1)2,333,623 
United States Treasury Note/Bond2.875%, $11,650,000 par, due 5/31/2025 (1)12,962,442 
United States Treasury Note/Bond2.875%, $2,000,000 par, due 11/30/2025 (1)2,245,546 
United States Treasury Note/Bond1.750%, $460,000 par, due 12/31/2024 (1)487,295 
United States Treasury Note/Bond0.250%, $7,425,000 par, due 9/30/2025 (1)7,396,867 
United States Treasury Note/Bond3.000%, $2,000,000 par, due 10/31/2025 (1)2,254,532 
United States Treasury Note/Bond2.250%, $4,000,000 par, due 4/30/2024 (1)4,272,500 
    52    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
United States Treasury Note/Bond2.375%, $2,000,000 par, due 4/30/2026 (1)$2,208,516 
United States Treasury Note/Bond3.125%, $6,500,000 par, due 11/15/2028 (1)7,695,896 
United States Treasury Note/Bond0.625%, $27,529,000 par, due 5/15/2030 (1)26,913,892 
United States Treasury Note/Bond0.250%, $29,950,000 par, due 10/31/2025 (1)29,821,305 
United States Treasury Note/Bond0.625%, $16,320,000 par, due 8/15/2030 (1)15,912,000 
United States Treasury Note/Bond2.125%, $270,000 par, due 3/31/2024 (1)286,864 
United States Treasury Note/Bond2.750%, $650,000 par, due 2/28/2025 (1)716,448 
United States Treasury Note/Bond2.625%, $16,000,000 par, due 2/15/2029 (1)18,367,504 
United States Treasury Note/Bond1.500%, $39,475,000 par, due 2/15/2030 (1)41,761,787 
United States Treasury Note/Bond2.875%, $10,000,000 par, due 7/31/2025 (1)11,162,500 
United States Treasury Note/Bond1.750%, $21,300,000 par, due 7/31/2024 (1)22,466,516 
UnitedHealth Group Inc3.500%, $1,310,000 par, due 2/15/2024 (1)1,433,821 
University of Arkansas2.550%, $3,265,000 par, due 11/1/2028 (1)3,561,821 
University of California3.349%, $1,170,000 par, due 7/1/2029 (1)1,349,174 
University of Colorado2.447%, $1,560,000 par, due 6/1/2026 (1)1,670,978 
University of Nebraska Facilities Corp2.265%, $3,325,000 par, due 10/1/2027 (1)3,562,006 
University of North Carolina at Chapel Hill3.327%, $500,000 par, due 12/1/2036 (1)585,230 
UNIVERSITY OF PENNSYLVANIA2.942%, $1,500,000 par, due 8/15/2039 (1)1,619,205 
US Bancorp2.400%, $980,000 par, due 7/30/2024 (1)1,044,673 
US Bank NA/Cincinnati OH2.050%, $820,000 par, due 1/21/2025 (1)867,742 
US Bank NA/Cincinnati OH2.800%, $540,000 par, due 1/27/2025 (1)587,701 
USAA Capital Corp2.125%, $190,000 par, due 5/1/2030 (1)199,783 
Ventas Realty LP3.100%, $1,103,000 par, due 1/15/2023 (1)1,157,433 
Ventas Realty LP3.500%, $721,000 par, due 2/1/2025 (1)794,036 
Ventas Realty LP4.400%, $1,370,000 par, due 1/15/2029 (1)1,606,735 
Ventas Realty LP2.650%, $200,000 par, due 1/15/2025 (1)214,048 
Verizon Communications Inc2.625%, $530,000 par, due 8/15/2026 (1)580,758 
Verizon Communications Inc3.376%, $1,476,000 par, due 2/15/2025 (1)1,639,297 
Verizon Communications Inc4.125%, $460,000 par, due 3/16/2027 (1)542,197 
Verizon Communications Inc3.500%, $271,000 par, due 11/1/2024 (1)299,325 
Verizon Owner Trust 2018-A3.230%, $2,703,954 par, due 4/20/2023 (1)2,739,849 
Verizon Owner Trust 2019-A2.930%, $2,811,000 par, due 9/20/2023 (1)2,865,522 
Verizon Owner Trust 2019-C1.940%, $7,415,000 par, due 4/22/2024 (1)7,574,089 
Verizon Owner Trust 2020-C0.410%, $4,820,000 par, due 4/21/2025 (1)4,828,898 
Vermont Std Asst Corp0.848%, $1,917,103 par, due 7/28/2034 (1)1,917,122 
Virginia Housing Development Authority3.100%, $478,374 par, due 6/25/2041 (1)501,470 
VIRGINIA STATE RESOURCES AUTHORITY2.450%, $2,755,000 par, due 11/1/2027 (1)3,026,643 
Vodafone Group PLC4.125%, $880,000 par, due 5/30/2025 (1)1,006,276 
Volkswagen Group of America Finance LLC2.850%, $590,000 par, due 9/26/2024 (1)630,116 
Vornado Realty LP3.500%, $1,195,000 par, due 1/15/2025 (1)1,263,795 
Walt Disney Co/The3.800%, $1,385,000 par, due 3/22/2030 (1)1,650,459 
Washington & Multnomah Counties School
Dist No 48J1.407%, $2,355,000 par, due 6/15/2027 (1)2,413,051 
*Wells Fargo Commercial Mortgage Trust 2013-LC124.218%, $743,000 par, due 7/15/2046 (1)798,081 
Welltower Inc3.625%, $308,000 par, due 3/15/2024 (1)335,687 
Welltower Inc4.125%, $2,191,000 par, due 3/15/2029 (1)2,555,966 
Welltower Inc3.950%, $700,000 par, due 9/1/2023 (1)759,485 
West Haymarket Joint Public Agency5.400%, $1,250,000 par, due 12/15/2030 (1)1,617,413 
Westpac Banking Corp3.300%, $2,018,000 par, due 2/26/2024 (1)2,193,419 
WFRBS Commercial Mortgage Trust 2013-C113.071%, $3,600,000 par, due 3/15/2045 (1)3,760,142 
WFRBS Commercial Mortgage Trust 2013-C123.198%, $3,700,000 par, due 3/15/2048 (1)3,870,411 
WFRBS Commercial Mortgage Trust 2013-C174.023%, $468,000 par, due 12/15/2046 (1)506,160 
WFRBS Commercial Mortgage Trust 2013-UBS14.079%, $1,130,923 par, due 3/15/2046 (1)1,226,429 
WFRBS Commercial Mortgage Trust 2014-C203.995%, $3,274,000 par, due 5/15/2047 (1)3,586,559 
Wisconsin Electric Power Co2.050%, $1,920,000 par, due 12/15/2024 (1)2,032,378 
WISCONSIN ST GEN FUND APPROP2.096%, $1,605,000 par, due 5/1/2026 (1)1,711,765 
WISCONSIN ST GEN FUND APPROP5.700%, $1,335,000 par, due 5/1/2026 (1)1,569,506 
WRKCo Inc4.650%, $330,000 par, due 3/15/2026 (1)388,100 
WRKCo Inc3.000%, $1,260,000 par, due 9/15/2024 (1)1,356,708 
WRKCo Inc3.900%, $920,000 par, due 6/1/2028 (1)1,066,699 
Yale University1.482%, $1,465,000 par, due 4/15/2030 (1)1,503,716 
*Wells Fargo/BlackRock Short Term Investment Fund S68,078,260 shares(1)68,078,260 
1,522,912,177 
Accrued income receivable7,508,504 
Payable for securities purchased on a forward commitment basis(51,260,824)
Receivable for securities sold on a forward
commitment basis17,320,315 
Receivables for investment payments due234,864 
    53    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Adjustment from fair value to current value$(71,316,350)
     Total1,425,398,686 
American General Life Ins. Co.2.00%(1)— 
Massachsetts Mutual Life Ins. Co.2.31%(1)— 
Pacific Life Ins. Co.2.46%(1)— 
Prudential Ins. Co. of America2.52%(1)— 
Royal Bank of Canada2.18%(1)— 
State Street Bank and TrustCo.2.34%(1)— 
Transamerica Premier Life Ins. Co.2.37%(1)— 
Voya Ins. and Annuity Co.2.15%(1)— 
3M COMPANY2.650%, $380,000 par, due 04/15/2025(1)412,722 
ABBVIE INC2.950%, $785,000 par, due 11/21/2026(1)868,092 
ABBVIE INC3.200%, $1,285,000 par, due 11/21/2029(1)1,440,100 
AIG GLOBAL FUNDING0.800%, $345,000 par, due 07/07/2023(1)348,402 
Ally Auto Receivables Trust1.840%, $155,000 par, due 06/17/2024(1)157,328 
Ally Auto Receivables Trust2.350%, $48,069 par, due 06/15/2022(1)48,176 
ALTRIA GROUP INC2.350%, $525,000 par, due 05/06/2025(1)557,807 
AMAZON.COM INC1.200%, $145,000 par, due 06/03/2027(1)147,920 
American Electric Power1.000%, $570,000 par, due 11/01/2025(1)576,783 
American Express2.500%, $625,000 par, due 08/01/2022(1)644,856 
American Honda Finance0.650%, $340,000 par, due 09/08/2023(1)342,149 
American Honda Finance2.050%, $825,000 par, due 01/10/2023(1)853,124 
American International Group3.900%, $440,000 par, due 04/01/2026(1)501,728 
American Tower Corp1.875%, $1,125,000 par, due 10/15/2030(1)1,134,810 
Amgen Incorporated2.200%, $1,065,000 par, due 02/21/2027(1)1,141,691 
ANHEUSER-BUSCH CO/INBEV3.650%, $725,000 par, due 02/01/2026(1)819,518 
ANHEUSER-BUSCH INBEV WOR4.150%, $785,000 par, due 01/23/2025(1)893,872 
ANTHEM INC2.375%, $310,000 par, due 01/15/2025(1)331,560 
Apple Inc.2.750%, $1,475,000 par, due 01/13/2025(1)1,600,331 
ASTRAZENECA PLC3.500%, $570,000 par, due 08/17/2023(1)613,998 
AT&T INC1.650%, $845,000 par, due 02/01/2028(1)862,145 
AT&T INC4.350%, $885,000 par, due 03/01/2029(1)1,055,504 
Avalonbay Communities2.450%, $890,000 par, due 01/15/2031(1)957,195 
BAE SYSTEMS PLC4.750%, $845,000 par, due 10/11/2021 (1)872,133 
Bank of America Funding Corp3.194%, $265,000 par, due 07/23/2030(1)296,983 
Bank of America Funding Corp3.419%, $2,335,000 par, due 12/20/2028(1)2,637,476 
Bank of America Funding Corp3.970%, $395,000 par, due 03/05/2029(1)461,198 
Bank of America Funding Corp3.974%, $1,060,000 par, due 02/07/2030(1)1,248,500 
Bank of America Funding Corp4.000%, $245,000 par, due 01/22/2025(1)275,302 
Bank of America Funding Corp4.450%, $735,000 par, due 03/03/2026(1)856,679 
BANK OF NY MELLON CORP2.100%, $1,310,000 par, due 10/24/2024(1)1,391,272 
BANK OF THE WEST AUTO TRUST2.400%, $96,360 par, due 10/17/2022 (1)96,590 
BAT CAPITAL CORP2.259%, $1,250,000 par, due 03/25/2028(1)1,297,562 
BB&T CORPORATION2.200%, $1,085,000 par, due 03/16/2023(1)1,126,295 
BERKSHIRE HATHAWAY ENERG3.700%, $1,305,000 par, due 07/15/2030(1)1,543,632 
BERKSHIRE HATHAWAY ENERG4.050%, $640,000 par, due 04/15/2025(1)724,653 
BG ENERGY CAPITAL PLC4.000%, $595,000 par, due 10/15/2021 (1)610,863 
BMW US CAPITAL LLC3.800%, $745,000 par, due 04/06/2023 (1)800,130 
Boeing Co2.700%, $480,000 par, due 02/01/2027(1)499,272 
Boeing Co4.508%, $790,000 par, due 05/01/2023(1)853,856 
BOSTON GAS COMPANY3.001%, $365,000 par, due 08/01/2029(1)402,905 
BOSTON PROPERTIES LP3.400%, $1,105,000 par, due 06/21/2029(1)1,233,467 
BP CAP MARKETS AMERICA3.194%, $825,000 par, due 04/06/2025(1)907,492 
BP CAP MARKETS AMERICA3.216%, $925,000 par, due 11/28/2023(1)992,016 
Bristol-Meyers Squibb3.200%, $560,000 par, due 06/15/2026(1)630,073 
Capital One Auto Finance Trust0.739%, $950,000 par, due 07/15/2027(1)959,253 
CHEVRON CORP1.995%, $390,000 par, due 05/11/2027(1)413,591 
CHEVRON CORP2.895%, $115,000 par, due 03/03/2024(1)123,232 
CHEVRON USA INC1.018%, $730,000 par, due 08/12/2027(1)733,584 
Citibank Credit Card Iss Trust0.764%, $1,960,000 par, due 04/22/2026(1)1,977,699 
Citibank Credit Card Iss Trust0.929%, $2,670,000 par, due 05/14/2029(1)2,666,689 
Citigroup Incorporated3.142%, $1,410,000 par, due 01/24/2023(1)1,449,889 
Citigroup Incorporated3.200%, $1,135,000 par, due 10/21/2026(1)1,268,555 
Citigroup Incorporated3.352%, $680,000 par, due 04/24/2025(1)739,282 
Citigroup Incorporated3.700%, $690,000 par, due 01/12/2026(1)784,088 
Citigroup Incorporated4.412%, $770,000 par, due 03/31/2031(1)933,748 
Citigroup Incorporated4.600%, $1,205,000 par, due 03/09/2026(1)1,412,127 
Coca-Cola Company1.450%, $325,000 par, due 06/01/2027(1)335,702 
    54    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
Comcast Corporation1.500%, $1,595,000 par, due 02/15/2031(1)$1,584,202 
Comcast Corporation3.000%, $370,000 par, due 02/01/2024(1)398,028 
Comcast Corporation3.300%, $510,000 par, due 04/01/2027(1)579,921 
Comcast Corporation3.600%, $110,000 par, due 03/01/2024(1)121,021 
Comcast Corporation3.950%, $915,000 par, due 10/15/2025(1)1,051,225 
CREDIT SUISSE GROUP AG4.207%, $1,035,000 par, due 06/12/2024 (1)1,121,340 
CVS Health Corp3.625%, $1,380,000 par, due 04/01/2027(1)1,570,412 
CVS Health Corp3.750%, $450,000 par, due 04/01/2030(1)523,696 
CVS Health Corp3.875%, $130,000 par, due 07/20/2025(1)147,226 
CVS Health Corp4.780%, $245,000 par, due 03/25/2038(1)310,410 
DAIMLER FINANCE NA LLC2.700%, $1,215,000 par, due 06/14/2024 (1)1,300,840 
DAIMLER FINANCE NA LLC3.350%, $535,000 par, due 05/04/2021 (1)540,131 
Discover Card Master Trust0.489%, $1,890,000 par, due 08/15/2025(1)1,896,142 
Discover Card Master Trust0.759%, $1,465,000 par, due 12/15/2026(1)1,476,075 
Dominion Resources Inc2.750%, $465,000 par, due 01/15/2022(1)475,072 
Dow Chemical3.625%, $615,000 par, due 05/15/2026(1)692,976 
DOWDUPONT INC4.493%, $1,255,000 par, due 11/15/2025(1)1,465,024 
Drive Auto Receivables Trust1.990%, $26,361 par, due 12/15/2022(1)26,406 
DTE Energy Company2.529%, $590,000 par, due 10/01/2024(1)628,633 
DTE Energy Company2.600%, $255,000 par, due 06/15/2022(1)262,982 
DTE Energy Company3.850%, $950,000 par, due 12/01/2023(1)1,033,619 
DUKE ENERGY FLORIDA LLC1.750%, $1,330,000 par, due 06/15/2030(1)1,359,925 
DUKE ENERGY FLORIDA LLC3.200%, $475,000 par, due 01/15/2027(1)530,242 
DUKE ENERGY OHIO INC2.125%, $285,000 par, due 06/01/2030(1)298,489 
EQUINIX INC1.550%, $980,000 par, due 03/15/2028(1)996,190 
EQUINOR ASA2.875%, $1,865,000 par, due 04/06/2025(1)2,036,972 
EQUINOR ASA3.000%, $1,040,000 par, due 04/06/2027(1)1,157,884 
ERP Operating LP3.000%, $490,000 par, due 07/01/2029(1)545,169 
EVERSOURCE ENERGY2.750%, $1,110,000 par, due 03/15/2022(1)1,139,282 
Exelon Corporation3.950%, $1,050,000 par, due 06/15/2025(1)1,187,750 
Exxon Mobil Corporation2.992%, $2,430,000 par, due 03/19/2025(1)2,659,635 
Fannie- 55 UMBS3.000%, $2,153,985 par, due 09/01/2050(1)2,261,879 
Fannie Mae - UBMS3.500%, $82,625 par, due 01/01/2050(1)87,678 
Fannie Mae ARM Pool5.000%, $78,734 par, due 12/01/2048(1)87,319 
Fannie Mae Pool3.500%, $218,744 par, due 01/01/2050(1)230,854 
Fannie Mae Pool3.500%, $319,259 par, due 07/01/2049(1)338,782 
Fannie Mae Pool3.500%, $93,324 par, due 05/01/2049(1)99,030 
Fannie Mae Pool3.790%, $255,000 par, due 12/01/2025(1)274,987 
Fannie Mae Pool3.820%, $84,624 par, due 07/01/2027(1)93,751 
Fannie Mae Pool4.000%, $172 par, due 01/01/2050 (1)184 
Fannie Mae Pool4.000%, $29,783 par, due 09/01/2049(1)31,825 
Fannie Mae Pool4.000%, $359,358 par, due 06/01/2049(1)385,494 
Fannie Mae Pool4.500%, $66,960 par, due 04/01/2049(1)72,979 
Fannie Mae Pool5.000%, $390,905 par, due 05/01/2048(1)433,033 
Fannie Mae2.000%, $7,035,000 par, due 03/25/2051 (1)7,282,773 
Fannie Mae4.200%, $570,000 par, due 01/01/2029(1)648,905 
Fannie Mae5.000%, $1,586,118 par, due 05/01/2049(1)1,757,054 
Fannie Mae5.000%, $71,004 par, due 03/01/2049(1)79,034 
FHLMC0.000%, $1,620,000 par, due 03/15/2031(1)1,406,679 
FHLMC0.000%, $205,000 par, due 07/15/2031 (1)176,678 
FHLMC0.000%, $450,000 par, due 07/15/2032(1)380,103 
Florida Power and Light2.850%, $510,000 par, due 04/01/2025(1)555,008 
FNMA0.000%, $155,000 par, due 11/15/2030 (1)135,643 
Ford Credit Auto Owner Trust1.870%, $130,567 par, due 09/15/2022(1)130,888 
FORD CREDIT AUTO OWNER TRUST3.030%, $79,485 par, due 11/15/2022(1)80,191 
FOX CORP3.500%, $410,000 par, due 04/08/2030(1)465,719 
Freddie 55 -UMBS4.000%, $48,838 par, due 05/01/2049(1)52,192 
Freddie Mac 55 - UMBS4.000%, $71,002 par, due 02/01/2050(1)75,722 
Freddie Mac 55- UMBS3.500%, $112,574 par, due 01/01/2050(1)119,445 
Freddie Mac 55-UMBS5.000%, $150,538 par, due 06/01/2049(1)167,139 
Freddie Mac-55 UMBS4.000%, $165,905 par, due 07/01/2049(1)177,991 
General Electric Company3.625%, $355,000 par, due 05/01/2030(1)405,726 
Glaxosmithkline Capital3.000%, $230,000 par, due 06/01/2024(1)247,820 
Goldman Sachs Group Inc2.905%, $2,200,000 par, due 07/24/2023(1)2,285,008 
Goldman Sachs Group Inc3.691%, $140,000 par, due 06/05/2028(1)161,283 
Goldman Sachs Group Inc4.000%, $1,095,000 par, due 03/03/2024(1)1,209,942 
Goldman Sachs Group Inc.3.750%, $945,000 par, due 02/25/2026(1)1,073,473 
GUARDIAN LIFE GLOB FUND0.875%, $1,070,000 par, due 12/10/2025(1)1,076,260 
    55    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
GUARDIAN LIFE GLOB FUND1.100%, $375,000 par, due 06/23/2025(1)$380,355 
Home Depot Incorporated2.500%, $525,000 par, due 04/15/2027(1)576,124 
HSBC Holdings PLC1.645%, $2,320,000 par, due 04/18/2026(1)2,372,803 
HSBC Holdings PLC4.300%, $200,000 par, due 03/08/2026(1)230,432 
HSBC Holdings PLC4.583%, $755,000 par, due 06/19/2029(1)893,203 
HSBC Holdings PLC4.950%, $260,000 par, due 03/31/2030(1)325,936 
Hyundai Auto Receivables Trust1.940%, $125,000 par, due 02/15/2024(1)127,298 
JP Morgan Chase & Company3.900%, $1,680,000 par, due 07/15/2025(1)1,908,547 
JPMORGAN CHASE & CO2.005%, $925,000 par, due 03/13/2026(1)971,611 
JPMORGAN CHASE & CO2.956%, $490,000 par, due 05/13/2031(1)537,329 
JPMORGAN CHASE & CO3.797%, $720,000 par, due 07/23/2024(1)781,027 
JPMORGAN CHASE & CO4.452%, $850,000 par, due 12/05/2029(1)1,037,085 
KEURIG DR PEPPER INC4.417%, $750,000 par, due 05/25/2025(1)864,705 
Key Corp2.250%, $1,390,000 par, due 04/06/2027(1)1,482,908 
Key Corp5.100%, $735,000 par, due 03/24/2021(1)742,703 
Kimberly-Clark Corporation3.100%, $230,000 par, due 03/26/2030(1)264,863 
Kinder Morgan Energy Partners3.500%, $500,000 par, due 03/01/2021(1)500,000 
KINDER MORGAN INC/DELAWA4.300%, $920,000 par, due 06/01/2025(1)1,049,720 
Lowes Companies1.300%, $805,000 par, due 04/15/2028(1)812,100 
Lowes Companies4.500%, $1,055,000 par, due 04/15/2030(1)1,313,232 
MASTERCARD INC3.300%, $510,000 par, due 03/26/2027(1)581,849 
McDonald's Corporation2.625%, $575,000 par, due 09/01/2029(1)629,349 
McDonald's Corporation3.500%, $1,585,000 par, due 07/01/2027(1)1,818,201 
McDonald's Corporation3.600%, $690,000 par, due 07/01/2030(1)808,714 
MERCK & CO INC1.450%, $1,375,000 par, due 06/24/2030(1)1,394,140 
MET LIFE GLOB FUNDING I0.950%, $1,970,000 par, due 07/02/2025(1)1,996,122 
Mondelez International2.750%, $315,000 par, due 04/13/2030(1)345,987 
Morgan Stanley Dean Witter2.720%, $720,000 par, due 07/22/2025(1)770,098 
Morgan Stanley Dean Witter3.622%, $2,350,000 par, due 04/01/2031(1)2,733,285 
Morgan Stanley Dean Witter4.431%, $590,000 par, due 01/23/2030(1)717,682 
MORGAN STANLEY3.125%, $1,210,000 par, due 07/27/2026(1)1,352,502 
MORGAN STANLEY3.125%, $630,000 par, due 01/23/2023(1)664,883 
Morgan Stanley3.875%, $260,000 par, due 04/29/2024(1)288,033 
NATIONAL SECS CLEARING1.200%, $455,000 par, due 04/23/2023(1)464,082 
NAVIENT STUDENT LOAN TRUST1.310%, $530,000 par, due 01/15/2069(1)534,934 
New York Life Global Funding2.900%, $1,670,000 par, due 01/17/2024 (1)1,791,559 
NIKE INC2.750%, $865,000 par, due 03/27/2027(1)957,148 
NVIDIA CORP2.850%, $1,015,000 par, due 04/01/2030(1)1,141,814 
ORACLE CORP2.950%, $230,000 par, due 11/15/2024(1)250,231 
OTIS WORLDWIDE CORPElectrical2.056%, $975,000 par, due 04/05/2025(1)1,033,344 
PAYPAL HOLDINGS INC1.650%, $2,220,000 par, due 06/01/2025(1)2,319,412 
Pfizer Incorporated2.625%, $610,000 par, due 04/01/2030(1)680,852 
PHILIP MORRIS INTL INC2.875%, $1,500,000 par, due 05/01/2024 (1)1,611,120 
PHILLIPS 661.300%, $340,000 par, due 02/15/2026(1)344,553 
PROLOGIS INC2.125%, $520,000 par, due 04/15/2027(1)557,986 
PUBLIC SERVICE ENTERPRIS1.600%, $830,000 par, due 08/15/2030(1)818,363 
PUBLIC SERVICE ENTERPRIS2.650%, $745,000 par, due 11/15/2022(1)776,484 
Reckitt Benckiser TSY2.750%, $1,605,000 par, due 06/26/2024 (1)1,716,499 
REPUBLIC SERVICES INC1.450%, $1,270,000 par, due 02/15/2031(1)1,242,949 
RESOLUTION FUNDING STRIP0.000%, $705,000 par, due 01/15/2030 (1)627,604 
RFCSP0.000%, $350,000 par, due 01/15/2030 (1)311,367 
RFCSP0.000%, $920,000 par, due 04/15/2030 (1)815,831 
ROPER TECHNOLOGIES INC1.000%, $340,000 par, due 09/15/2025(1)344,104 
SCHLUMBERGER FIN CA1.400%, $300,000 par, due 09/17/2025(1)308,511 
SHELL INTERNATIONAL FIN2.375%, $1,590,000 par, due 04/06/2025(1)1,705,275 
Simon Property Group LP2.000%, $465,000 par, due 09/13/2024(1)485,948 
Simon Property Group LP2.750%, $170,000 par, due 06/01/2023(1)178,680 
SOUTHERN CO2.950%, $920,000 par, due 07/01/2023(1)974,243 
STANDFORD UNIVERSITY1.289%, $510,000 par, due 06/01/2027(1)525,035 
STATE STREET CORP2.901%, $895,000 par, due 03/30/2026(1)974,941 
STATOIL ASA3.700%, $50,000 par, due 03/01/2024(1)54,942 
Target Corporation2.250%, $450,000 par, due 04/15/2025(1)481,707 
Thermo Electron Corporation4.133%, $680,000 par, due 03/25/2025(1)773,187 
TJX COS INC3.750%, $1,610,000 par, due 04/15/2027(1)1,861,901 
Toyota Auto Receivables Owner1.920%, $84,980 par, due 07/15/2022(1)85,359 
Toyota Auto Receivables1.670%, $99,160 par, due 11/15/2022(1)99,705 
TOYOTA MOTOR CREDIT CORP2.900%, $1,290,000 par, due 03/30/2023(1)1,364,691 
Trans- Cananda Piplines4.625%, $75,000 par, due 03/01/2034(1)91,652 
    56    (Continued)


WELLS FARGO & COMPANY 401(k) PLAN
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2020
Description of investment, including
maturity date, rate of interest,Units/
Identity of issuer, borrower, lessor, or similar partycollateral, par, or maturing valuesharesCostCurrent value
TSMC Global LTD1.375%, $1,515,000 par, due 09/28/2030(1)$1,487,306 
Unilever Capital Corporation2.600%, $445,000 par, due 05/05/2024(1)474,219 
Union Pacific Corporation3.950%, $400,000 par, due 09/10/2028(1)474,880 
UNITED PARCEL SERVICE3.900%, $975,000 par, due 04/01/2025(1)1,101,545 
United States Treasury1.375%, $1,475,000 par, due 08/15/2050(1)1,381,426 
United States Treasury1.375%, $9,160,000 par, due 11/15/2040(1)9,059,790 
United States Treasury1.625%, $5,580,000 par, due 11/15/2050(1)5,558,182 
United States Treasury2.750%, $4,730,000 par, due 08/31/2025(1)5,259,524 
UNIV OF CALIFORNIA CA REVENUES1.316%, $550,000 par, due 05/15/2027(1)558,794 
UPJOHN Inc2.300%, $385,000 par, due 06/22/2027 (1)409,879 
US 10yr Note CBT0.000%, $46 par, due 03/22/2071(1)— 
US 20yr Note CBT0.000%, $147 par, due 03/22/2071(1)— 
US Bancorp2.400%, $1,340,000 par, due 07/30/2024(1)1,428,427 
US TREASURY0.125%, $61,870,000 par, due 12/15/2023(1)61,797,612 
US TREASURY0.375%, $44,875,000 par, due 12/31/2025(1)44,910,002 
US TREASURY0.625%, $39,315,000 par, due 12/31/2027(1)39,272,147 
US ULTRA BOND0.000%, $5 par, due 03/22/2071(1)— 
Usaa Captial2.125%, $275,000 par, due 05/01/2030(1)289,160 
VERIZON COMMUNICATIONS1.750%, $1,820,000 par, due 01/20/2031(1)1,810,900 
VERIZON COMMUNICATIONS4.500%, $675,000 par, due 08/10/2033(1)851,722 
Visa Inc.1.900%, $560,000 par, due 04/15/2027(1)596,019 
VOLKSWAGEN GROUP AMERICA0.875%, $840,000 par, due 11/22/2023(1)844,729 
VOLKSWAGEN GROUP AMERICA2.900%, $1,145,000 par, due 05/13/2022(1)1,181,182 
WAL-MART STORES INC3.050%, $680,000 par, due 07/08/2026(1)765,551 
Walt Disney Company3.350%, $1,380,000 par, due 03/24/2025(1)1,529,854 
YALE UNIVERSITY0.873%, $490,000 par, due 04/15/2025(1)497,737 
*Wells Fargo/BlackRock Short Term Investment Fund S25,035,851 shares(1)25,035,851 
369,686,266 
Accrued income receivable1,156,653 
Payable for daily variation margin on futures contracts(49,250)
Payable for securities purchased on a forward
commitment basis(66,904,049)
Receivable for securities sold on a forward commitment basis59,927,990 
Payable for investment payments due(24,973,573)
Receivable for investment payments due25,378,518 
Adjustment from fair value to current value(17,469,848)
346,752,707 
Total underlying securities of security-backed contracts4,657,232,143 
Wrapper contract fee payable(1,451,913)
Investment management fee payable(91,263)
Pending trades55,145 
4,655,744,112 
Collective Investment Fund
*Wells Fargo/BlackRock Short Term Investment Fund S222,618,539 units(1)222,618,539 
222,618,539 
4,878,362,651 
*Money market funds - unallocatedCollective investment fund40,030,014 40,030,014 40,030,014 
*Wells Fargo – ESOP Fund
Wells Fargo & Company common stock - allocatedCommon stock fund201,378,438 8,299,701,264 6,077,601,259 
Wells Fargo ESOP – unallocatedConvertible preferred stock822,242 874,843,715 989,631,427 
Money market funds - allocatedCollective investment fund80,704,480 80,704,480 80,704,480 
Money market funds - unallocatedCollective investment fund25,292,257 25,292,257 25,292,257 
7,173,229,423 
$48,542,300,492 
*Represents a party-in-interest.
(1)Cost information not required as investments are participant directed.
See accompanying report of independent registered public accounting firm.
57


EXHIBITS
    
Exhibit No.DescriptionLocation
Filed herewith.

        
    

58


SIGNATURES

The Plan. 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.

WELLS FARGO & COMPANY 401(k) PLAN
        
                                            
/s/ Mark Hickman            
Mark Hickman
Senior Vice President
Director of Compensation and Benefits
Wells Fargo & Company
                                                
June 24, 2021