11-K 1 a202011-k.htm AEP RETIREMENT SAVINGS PLAN 2020 Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
(Mark One)
xANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the year ended December 31, 2020
OR
oTRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission File Number: 1 - 3525
AEP RETIREMENT SAVINGS 401(K) PLAN
(Full title of the plan)
AMERICAN ELECTRIC POWER COMPANY, INC.
1 Riverside Plaza, Columbus, Ohio 43215
(Name of issuer of the securities held
pursuant to the plan and the address
of its principal executive office)



AEP RETIREMENT SAVINGS 401(K) PLAN
INDEX
December 31, 2020 and 2019
Page
Number
Signatures
Reports of Independent Registered Public Accounting Firms
Financial Statements
Statements of Net Assets Available for Benefits
Statements of Changes in Net Assets Available for Benefits
Notes to Financial Statements
Supplemental Schedule
Schedule of Assets (Held as of End of Year)
Exhibit Index
Exhibit 23(1)
Exhibit 23(2)
Note: Other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting with Disclosure under the Employee Retirement Income Security Act of 1974 (ERISA) have been omitted because they are not applicable.
1


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Benefits Finance Committee has duly caused this annual report to be signed by the undersigned thereunto duly authorized
By:
/s/ Julie A. Sherwood
Julie A. Sherwood, SVP Treasury & Risk
2


Report of Independent Registered Public Accounting Firm

Plan Administrator and Plan Participants of
AEP Retirement Savings 401(k) Plan
Columbus, Ohio

Opinion on the Financial Statements

We have audited the accompanying statement of net assets available for benefits of the AEP Retirement Savings 401(k) Plan (the “Plan”) as of December 31, 2020, the related statement of changes in net assets available for benefits for the year then ended, 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 the changes in net assets available for benefits for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

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

Our audit included performing procedures to assess the risk 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 audit also included evaluating the accounting principles used and significant estimates made by the Plan’s management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Supplemental Information

The supplemental information in the accompanying 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 presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. 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/ BDO USA, LLP
We have served as the Plan’s auditor since 2021.
Columbus, Ohio
June 29, 2021
3


Report of Independent Registered Public Accounting Firm

To the Administrator and Plan Participants of AEP Retirement Savings 401(k) Plan

Opinion on the Financial Statements

We have audited the accompanying statement of net assets available for benefits of AEP Retirement Savings 401(k) Plan (the “Plan”) as of December 31, 2019 and the related statement of changes in net assets available for benefits for the year ended December 31, 2019, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019, and the changes in net assets available for benefits for the year ended December 31, 2019 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

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

We conducted our audits of these financial statements 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.

/s/ PricewaterhouseCoopers LLP

Columbus, Ohio
June 26, 2020

We served as the Plan’s auditor from 2019 to 2020.

4


AEP RETIREMENT SAVINGS 401(K) PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 2020 and 2019
December 31,
20202019
ASSETS
Investments at Fair Value$4,618,797,947 $4,276,669,965 
Investments at Contract Value681,788,963 616,389,451 
Notes Receivable from Participants63,362,301 76,418,775 
NET ASSETS AVAILABLE FOR BENEFITS$5,363,949,211 $4,969,478,191 
See Notes to Financial Statements beginning on page 7.
5


AEP RETIREMENT SAVINGS 401(K) PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
For the Years Ended December 31, 2020 and 2019
Years Ended December 31,
20202019
INVESTMENT INCOME
Net Appreciation in Investments$597,184,616 $845,829,651 
Interest and Dividends27,190,595 26,911,880 
Total Investment Income624,375,211 872,741,531 
CONTRIBUTIONS
Participants201,972,224 186,734,657 
Employer80,639,433 75,761,959 
Total Contributions282,611,657 262,496,616 
DISTRIBUTIONS TO PARTICIPANTS(509,504,366)(456,624,017)
ADMINISTRATIVE AND MANAGEMENT FEES
Professional Fees(338,350)(443,398)
Investment Advisory and Management Fees(5,927,868)(6,216,488)
Other Fees(475,567)(478,387)
Total Administrative and Management Fees(6,741,785)(7,138,273)
INTEREST INCOME ON NOTES RECEIVABLE FROM PARTICIPANTS
3,730,303 4,304,413 
NET INCREASE IN NET ASSETS BEFORE TRANSFERS394,471,020 675,780,270 
TRANSFERS INTO PLAN (Note 1)— 9,300,746 
NET INCREASE IN NET ASSETS394,471,020 685,081,016 
NET ASSETS AVAILABLE FOR BENEFITS BEGINNING OF YEAR
$4,969,478,191 $4,284,397,175 
NET ASSETS AVAILABLE FOR BENEFITS END OF YEAR$5,363,949,211 $4,969,478,191 
See Notes to Financial Statements beginning on page 7.
6


AEP RETIREMENT SAVINGS 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
For the Years Ended December 31, 2020 and 2019

1. PLAN DESCRIPTION

The following description of the AEP Retirement Savings 401(k) Plan (Plan) is provided for general information purposes only. Participants should refer to the Plan documents for a more complete description of the Plan’s information. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).

General

The Plan is a defined contribution plan that became effective and commenced operations on January 1, 1978. The Plan covers full-time and part-time employees of the participating subsidiaries of American Electric Power Company, Inc. (AEP or the Company) who are not excluded by the terms of the Plan, such as pursuant to a unionized collective bargaining agreement. American Electric Power Service Corporation (AEPSC) is the plan administrator (Plan Administrator) and plan sponsor (Plan Sponsor). AEPSC is a wholly-owned subsidiary of AEP. JPMorgan Chase Bank (JPMorgan) was the primary trustee for the Plan (the Trustee) until the transition to The Bank of New York Mellon as primary trustee commenced effective January 29, 2021. Great-West Financial Retirement Plan Services, LLC (Empower Retirement) is the plan record keeper. American Electric Power Service Corporation (AEPSC) appointed Great-West Trust Company, LLC (GWTC) as the trustee/custodian for certain cash held on behalf of the Plan pending investment or disbursement.

AEP Energy, Inc. (AEPE) is wholly -owned by AEP Retail Energy Partners LLC, which is a wholly-owned Subsidiary of AEP. In January 2020, AEPE employees became eligible to participate in the Plan. In connection with that transition, the AEP Energy, Inc. 401(k) Retirement Plan was merged into the Plan and as a result, approximately $9.3 million in assets were transferred to the Plan on December 30, 2019.

Contributions

Newly eligible employees are automatically enrolled in the Plan with a 3% pretax deferral. Such deferrals automatically increase each year by 1% to a maximum of 6%. Employees may opt out of the automatic enrollment or revise their elections after they are notified of their right not to have such pretax deferrals made on their behalf and how their account will be invested in the absence of their making an investment election. Generally, eligible employees participating in the Plan may make contributions (pretax, after-tax or Roth 401(k) contributions) in 1% increments up to 50% of their eligible pay (within Internal Revenue Service (IRS) limits), although pretax and Roth 401(k) amounts are limited to $19,500 for 2020 and $19,000 for 2019. Participants who are age 50 and older are eligible to contribute additional pretax or Roth 401(k) amounts as catch-up contributions. The catch-up contribution limit was $6,500 for 2020 and $6,000 for 2019. An employee who is eligible to participate in the Plan also may roll eligible retirement benefits into the Plan. The participating employers contribute to the Plan, on behalf of each participant, an amount equal to 100% of the participant’s non-rollover contributions up to 1% of the participant’s eligible compensation for each payroll period, plus 70% of the participant’s contributions for the next 5% of the participant’s eligible compensation for each payroll period, subject to certain limitations. All contributions that are withheld from a participant’s pay or are made by the participating employers are deposited in the AEP Retirement Savings 401(k) Plan Trust after each pay period. The Plan, in a manner consistent with the requirements under Section 401 of the Internal Revenue Code (IRC), restricts the amount that certain participants who are deemed highly compensated may contribute to the Plan, provided that it is AEPSC’s intent that the Plan include a “qualified automatic contribution arrangement” (as defined in Section 401(k)(13) of the IRC), such that only the after-tax contributions made by such highly compensated participants may be subject to such restrictions.



7



Notes Receivable from Participants

Participants generally may borrow from their savings plan accounts a minimum of $1,000 but no more than the lesser of $50,000 or 50% of their account balance. During March 2020, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law. Pursuant to the CARES Act, the Company has changed the Plan to temporarily allow certain qualified participants to obtain a COVID-19 related plan loans for the lesser of: (1) $100,000 (increased from $50,000), or (2) 100% increased from 50%) of the participant’s vested account balance. This is only available for plan loans made during the period from March 27, 2020 to September 22, 2020. The CARES Act also provides relief to participants with outstanding plan loans (on or after March 27, 2020) by allowing for a suspension of the loan payments (due from March 27, 2020 through December 31, 2020). During the suspension period, interest will continue to accrue. The term of the loan may extend for a period of up to one year without violating the original term period. Loan terms range from 12 months to 60 months (or up to 180 months for certain residential loans), or any monthly increment in-between. Interest rates, fixed for the life of the loan, are calculated by adding 1% to the prime rate, as reported in the Wall Street Journal as of the first business day of the calendar month in which the loan is taken. Active employees repay principal and interest payments through payroll deductions.

Participant loans and the accrued interest are collateralized by the account balance, and upon default, the outstanding balance is subject to income taxes and possible tax penalty. No allowance for credit losses has been recorded at December 31, 2020 or 2019.

Participant Accounts

Individual accounts are maintained for each Plan participant. Each participant’s account is credited with the participant’s contributions, the Company’s contributions and investment earnings and losses and charged with benefit payments and allocations of Plan expenses. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.

Participants may transfer the value of their cumulative contributions, in any whole percentage or dollar amount, among investments, and change their investment elections on a daily basis. Participants may change their payroll contribution elections coinciding with the Company’s payroll periods.

Participants may make investments in 1% increments among various unitized funds established by the Plan including index funds, bond funds, growth funds, value funds, target date funds, and a stable value fund. The assets of each of the funds are held in the custody of the Trustee, and record-kept at the participant level by Empower Retirement. As the Plan owns the underlying assets of each of these funds, the financial statements present the underlying investments of these unitized funds. In the absence of a participant-directed investment, contributions are invested in a target date fund based on the participant's date of birth and estimated retirement date.

The AEP Stock Fund is an investment option in the Plan. Participants can elect to have dividends generated from their unitized holdings in the AEP Stock Fund paid out in cash, rather than automatically reinvested in the fund. The dividend payouts are made periodically (at least annually) and are treated as ordinary income to the participants for tax purposes.

In addition to the above, the Plan offers a self-directed brokerage account (SDB) option that allows participants to invest in retail mutual funds and money market funds.


8


Vesting and Distribution

Participants are immediately vested in their pretax, after-tax, Roth 401(k) and the Company contributions, including earnings thereon; provided that certain matching contributions made to participants of the AEP Energy, Inc. 401(k) Retirement Plan may be only partially vested in accordance with existing vesting positions of this plan. Excluding participants’ pretax and Roth 401(k) contributions, profit sharing contributions, and post-2008 Company matching contributions, all participants may make an unlimited number of withdrawals of their interest in the Plan at any time, including their pre-2009 Company matching contributions. Pretax, Roth 401(k) and profit sharing contributions are eligible for withdrawal by participants only after age 59-1/2, or earlier upon hardship (as defined by the Plan), or following termination of employment. Post-2008 Company matching contributions are eligible for withdrawal by participants only after age 59-1/2, or earlier following earlier termination of employment, but not upon hardship. Pursuant to the CARES Act, the Company has changed the Plan to allow certain qualified participants impacted by COVID-19 to take withdrawals up to $100,000 between January 1, 2020 and December 30, 2020. These COVID-19 related distributions are not subject to the early withdrawal penalty, or to 20% federal tax withholding; but they are subject to a 10% federal tax withholding requirement, and participants have the option to spread the applicable income tax resulting from the COVID-19 related distribution over a 3 year period. Participant who obtain a COVID-19 related distribution may repay the distribution to an eligible retirement plan within the three-year period following the distribution to defer otherwise applicable taxation.
9


2. ACCOUNTING POLICIES

Basis of Accounting

The accompanying financial statements are prepared on an accrual basis of accounting, in conformity with accounting principles generally accepted in the United States of America (GAAP).
    
Investment Valuation and Income Recognition

Participants direct the investment of their plan accounts among various investment options offered by the Plan. Investments in securities are reported at fair value while fully benefit responsive investment contracts are reported at contract value. Fair value of a financial instrument is 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.

Purchases and sales of securities have been recorded on a trade-date basis. Net appreciation includes the Plan’s gains or losses on investments bought or sold as well as held throughout the year. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date. These amounts are reinvested by the Trustee in the funds that generated such income with the exception of the AEP Stock Fund, which pays or reinvests dividends at the direction of each participant.

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 not recorded as distributions until actually distributed based on the terms of the Plan document.

Administrative and Management Fees

Administrative and Management Fees incurred relating to JPMorgan and Empower Retirement during 2020 and 2019 totaled $2,314,433 and $2,476,479, respectively. The Plan directly pays for administrative, record keeping and management fees. Fees related to the administration of Notes Receivable from Participants are charged directly to the participant's account and are included in the administrative expenses. Investment related expenses are included in Net Appreciation in Investments.

Distributions to Participants

Distributions to participants are recorded when paid.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein and disclosure of contingent assets. The estimates and assumptions used are based upon management's evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results could differ from the estimates.

Fair Value Measurements of Assets

The accounting guidance for “Fair Value Measurements and Disclosures” establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). AEPSC’s staff independently monitors valuation policies and procedures and provides members of the Benefits Finance Committee (BFC) and its Investment Subcommittee (IC) various monthly and quarterly reports, regarding compliance with policies and procedures. As of December 31, 2020, the BFC consisted of AEPSC’s Chief Financial Officer, Treasurer, Senior Vice President - Chief Human Resources Officer, Senior Vice President - Strategy and Transformation, Executive Vice President - General
10


Counsel, Senior Vice President - Commercial Operations and the Executive Vice President - Energy Supply of AEP. The IC consists of AEPSC’s Treasurer, Director of Trusts and Investments and two Managing Directors of Corporate Finance.

The Plan utilizes its Trustee’s external pricing service to estimate the fair value of the underlying investments held in the Plan. The Plan’s investment managers review and validate the prices utilized by the Trustee to determine fair value. The Plan Administrator performs its own valuation testing to verify the fair values of the securities, in part by reviewing audit reports of the Trustee’s operating controls and valuation processes.

Assets in the Plan are classified using the following methods. Equities are classified as Level 1 holdings if they are actively traded on exchanges. Items classified as Level 1 are investments in equity securities and registered investment companies. They are valued based on observable inputs primarily unadjusted quoted prices in active markets for identical assets. Items classified as Level 2 are primarily investments in individual fixed income securities. Fixed income securities generally do not trade on exchanges and do not have an official closing price but their valuation inputs are based on observable market data.

The Trustee uses multiple pricing vendors for the assets held in trust. The Trustee’s pricing vendors calculate bond valuations using financial models and matrices. The models use observable inputs including yields on benchmark securities, quotes by securities brokers, rating agency actions, discounts or premiums on securities compared to par prices, changes in yields for U.S. Treasury securities, corporate actions by bond issuers, prepayment schedules and histories, economic events and, for certain securities, adjustments to yields to reflect changes in the rate of inflation. Cash equivalent funds are held to provide liquidity and meet short term cash needs. The underlying holdings in the cash funds may consist of commercial paper, certificates of deposit, treasury bills, and other short-term debt securities. Short-term debt securities are valued based on observable market data by the trust banks pricing vendor. Other securities with model-derived valuation inputs that are observable are also classified as Level 2 investments. Investments with unobservable valuation inputs are classified as Level 3 investments. Investments classified as “Other” are valued using Net Asset Value (NAV) as a practical expedient. Items classified as Other are primarily cash equivalent funds and common collective trusts. These investments do not have a readily determinable fair value or they contain redemption restrictions which may include the right to suspend redemptions under certain circumstances. Redemption restrictions on common collective trusts may also prevent certain investments from being redeemed at the reporting date for the underlying value. There are no unfunded commitments for investments in common collective trusts.


11


3. PLAN TERMINATION

Although it has not expressed any intent to do so, AEPSC has the right to take such actions as will allow contributions to the Plan to be discontinued at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, affected participants would be made 100 percent vested in their accounts.
12


4. INVESTMENT CONTRACTS

The Plan's Managed Income Fund provides a stable value investment option that includes fully benefit-responsive synthetic investment wrap contracts which assure the book value of investments in that fund for plan participants. The fund’s underlying assets, which are held in a trust, utilize wrap contracts issued by four financial institutions as of December 31, 2020 and 2019. The fund’s underlying investment or investments, usually a portfolio owned by the Plan, consist primarily of high quality, intermediate term fixed income securities and guaranteed investment contracts. The contracts provide that participants execute plan transactions at contract value. Contract value represents contributions made to the fund, plus credited interest, less participant withdrawals, without regard to changes in the fair value of the investments and securities underlying the fund. The rates for crediting interest are reset periodically based on market rates of other similar investments, the current yield of the underlying investments and the spread between the market value and contract value. The interest crediting rate cannot be less than 0%. Certain events initiated by the Plan Sponsor, such as a plan termination or a plan merger, would limit the ability of the Plan to administer participant-level transactions at contract value or may allow for the termination of the wrap contract at market value, rather than contract value.

The Plan Sponsor does not believe that any events that may limit the ability of the plan to transact at contract value are probable as of December 31, 2020 or the date these financial statements are issued.
13


5. RELATED PARTY AND PARTY-IN-INTEREST TRANSACTIONS

Certain transactions involving the Plan and its assets during 2019 and 2020 involved parties in interest with respect to the Plan, but most of those transactions were not prohibited transactions under ERISA because of the applicability of one or more exemptions. The exempt party-in-interest transactions involving the Plan included the following: JPMorgan has acted as trustee and custodian under the Plan, while its affiliates have acted as (a) investment managers for a number of the Plan’s investment options and (2) GWTC has been acting as a trustee and custodian under the Plan, while its affiliates have acted as (a) the Plan’s record keeper and (b) investment advisor or investment manager for a number of plan participants with respect to the amounts held in their Plan accounts. Notes receivable from participants held by the Plan are also considered party-in-interest transactions. Certain investments within the Self Directed Brokerage account are considered party-in-interest transactions.

As of December 31, 2020 and 2019, the Plan held 3,879,879 and 4,029,878 shares, respectively, of common stock of American Electric Power Company, Inc., the parent company of the Plan Sponsor, with a cost basis of $203,562,898 and $194,730,662, respectively. During the year ended December 31, 2020, the Plan acquired 485,324 shares of that common stock with a fair value of $40,685,494 and disposed of 635,323 shares with a fair value of $56,206,458. During the year ended December 31, 2019, the Plan acquired 295,761 shares of that common stock with a fair value of $25,684,663 and disposed of 604,657 shares with a fair value of $53,381,854. During the years ended December 31, 2020 and 2019, the Plan recorded dividend income of $11,123,089 and $11,409,018, respectively, related to its investment in that common stock.
14


6. FAIR VALUE MEASUREMENTS

For a discussion of fair value accounting and the classification of assets within the fair value hierarchy, see the “Fair Value Measurements of Assets” section of Note 2.

Plan Assets within the Fair Value Hierarchy as of December 31, 2020
Level 1Level 2Level 3OtherTotal
Equities
Corporate Stocks$682,098,487 $— $— $— $682,098,487 
AEP Stock323,077,524 — — — 323,077,524 
Subtotal Equities1,005,176,011 — — — 1,005,176,011 
Common/Collective Trusts
JPMorgan Liquidity Fund (a)— — — 21,682,463 21,682,463 
Mellon Capital Small Cap Stock Index Fund (a)— — — 210,808,132 210,808,132 
Mellon Capital Mid Cap Stock Index Fund (a)— — — 401,692,712 401,692,712 
Mellon Capital Stock Index Fund (a)— — — 1,109,531,125 1,109,531,125 
Mellon Capital International Stock Index Fund (a)— — — 660,031,838 660,031,838 
Mellon Capital Aggregate Bond Index Fund (a)— — — 575,341,739 575,341,739 
Mellon Capital Treasury Inflation-Protected Securities Fund (a)
— — — 26,571,999 26,571,999 
JPMorgan Strategic Property Fund (a)— — — 65,129,429 65,129,429 
Mellon Capital Emerging Markets Stock Index Fund (a)
— — — 50,660,881 50,660,881 
Columbia Trust Focused Large Cap Growth Fund (a)
— — — 246,556,207 246,556,207 
MetWest Total Return Bond Fund (a)— — — 67,993,031 67,993,031 
Subtotal Common/Collective Trusts— — — 3,435,999,556 3,435,999,556 
Self-Directed Brokerage Account (a)81,368,294 — — 13,720,131 95,088,425 
Registered Investment Companies74,665,499 — — — 74,665,499 
Cash Equivalents (a)— — — 4,659,795 4,659,795 
Accrued Items and Unsettled Trades (a)(337,453)— — 3,546,114 3,208,661 
Total Assets Reflecting Investments at Fair Value$1,160,872,351 $— $— $3,457,925,596 $4,618,797,947 

(a)Amounts in “Other” column represent investments for which fair value is measured using net asset value per share.
15


Plan Assets within the Fair Value Hierarchy as of December 31, 2019
Level 1Level 2Level 3OtherTotal
Equities
Corporate Stocks$600,687,149 $— $— $— $600,687,149 
AEP Stock380,863,770 — — — 380,863,770 
Subtotal Equities981,550,919 — — — 981,550,919 
Common/Collective Trusts
JPMorgan Liquidity Fund (a)— — — 19,859,891 19,859,891 
Mellon Capital Small Cap Stock Index Fund (a)— — — 191,414,132 191,414,132 
Mellon Capital Mid Cap Stock Index Fund (a)— — — 347,678,996 347,678,996 
Mellon Capital Stock Index Fund (a)— — — 1,043,780,733 1,043,780,733 
Mellon Capital International Stock Index Fund (a)— — — 637,365,934 637,365,934 
Mellon Capital Aggregate Bond Index Fund (a)— — — 521,931,878 521,931,878 
Mellon Capital Treasury Inflation-Protected Securities Fund (a)
— — — 24,771,357 24,771,357 
JPMorgan Strategic Property Fund (a)— — — 58,824,271 58,824,271 
Mellon Capital Emerging Markets Stock Index Fund (a)
— — — 47,176,380 47,176,380 
Columbia Trust Focused Large Cap Growth Fund (a)
— — — 181,483,856 181,483,856 
MetWest Total Return Bond Fund (a)— — — 41,507,995 41,507,995 
Subtotal Common/Collective Trusts— — — 3,115,795,423 3,115,795,423 
Self-Directed Brokerage Account (a)73,408,748 — — 15,537,182 88,945,930 
Registered Investment Companies93,186,718 — — — 93,186,718 
Cash Equivalents (a)— — — 161,649 161,649 
Accrued Items and Unsettled Trades (a)(1,003,428)(8,484)— (1,958,762)(2,970,674)
Total Assets Reflecting Investments at Fair Value$1,147,142,957 $(8,484)$— $3,129,535,492 $4,276,669,965 

(a)Amounts in “Other” column represent investments for which fair value is measured using net asset value per share.
16


The following tables set forth a summary of the Plan's investments with a reported Net Asset Value as a practical expedient as of December 31, 2020 and 2019:

Fair Value Estimated Using Net Asset Value per Share as of December 31, 2020
Common/Collective TrustsFair ValueRedemption
Frequency
(If currently
eligible)
Redemption
Notice Period
JPMorgan Liquidity Fund$21,682,463 Daily1 Day
Mellon Capital Small Cap Stock Index Fund210,808,132 DailyTrade Date + 1
Mellon Capital Mid Cap Stock Index Fund401,692,712 DailyTrade Date + 1
Mellon Capital Stock Index Fund1,109,531,125 DailyTrade Date + 1
Mellon Capital International Stock Index Fund660,031,838 DailyTrade Date + 1
Mellon Capital Aggregate Bond Index Fund575,341,739 DailyTrade Date + 1
Mellon Capital Treasury Inflation-Protected Securities Fund
26,571,999 DailyTrade Date + 1
JPMorgan Strategic Property Fund65,129,429 Quarterly30 Days
Mellon Capital Emerging Markets Stock Index Fund
50,660,881 DailyTrade Date + 1
Columbia Trust Focused Large Cap Growth Fund246,556,207 DailyTrade Date + 1
MetWest Total Return Bond Fund67,993,031 DailyTrade Date + 1
Self-Directed Brokerage Account13,720,131  DailyTrade Date + 1
Total Assets$3,449,719,687 

Fair Value Estimated Using Net Asset Value per Share as of December 31, 2019
Common/Collective TrustsFair ValueRedemption
Frequency
(If currently
eligible)
Redemption
Notice Period
JPMorgan Liquidity Fund$19,859,891 Daily1 Day
Mellon Capital Small Cap Stock Index Fund191,414,132 DailyTrade Date + 1
Mellon Capital Mid Cap Stock Index Fund347,678,996 DailyTrade Date + 1
Mellon Capital Stock Index Fund1,043,780,733 DailyTrade Date + 1
Mellon Capital International Stock Index Fund637,365,934 DailyTrade Date + 1
Mellon Capital Aggregate Bond Index Fund521,931,878 DailyTrade Date + 1
Mellon Capital Treasury Inflation-Protected Securities Fund
24,771,357 DailyTrade Date + 1
JPMorgan Strategic Property Fund58,824,271 Quarterly45 Days
Mellon Capital Emerging Markets Stock Index Fund
47,176,380 DailyTrade Date + 1
Columbia Trust Focused Large Cap Growth Fund181,483,856 DailyTrade Date + 1
MetWest Total Return Bond Fund41,507,995 DailyTrade Date + 1
Self-Directed Brokerage Account15,537,182 DailyTrade Date + 1
Total Assets$3,131,332,605 

It is the Plan’s policy to record transfers in and transfers out of each level at the end of each reporting period. There have been no transfers between Level 1, Level 2, and Level 3 during the years ended December 31, 2020 and 2019.
17


7. RISK AND UNCERTAINTIES

The Plan invests in various investment instruments, and investment securities are exposed to various risks, such as interest rate, credit and market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such change could materially affect the amounts reported in the financial statements.

In March 2020, COVID-19 was declared a pandemic by the World Health Organization and the Centers for Disease Control and Prevention. Its rapid spread around the world and throughout the United States prompted many countries, including the United States, to institute restrictions on travel, public gatherings and certain business operations. The ultimate impact of COVID-19 on the Plan depends on factors beyond the Plan Sponsor's knowledge or control, including the duration and severity of this outbreak as well as third-party actions taken to contain its spread and mitigate its public health effects. Therefore, the Plan Sponsor cannot estimate the potential future impact to participants' account balances and the amounts reported in the Statement of Net Assets Available for Benefits.
18


8. FEDERAL INCOME TAX

The IRS has issued a favorable determination letter dated December 8, 2017 with respect to the Plan. A favorable determination letter indicates that, in the opinion of the IRS, the terms of the Plan meets the requirements of Section 401(a) of the IRC, and thereby recognizes the exempt status of the Plan’s trust pursuant to Section 501(a) of the IRC.

The Plan has been amended and restated subsequent to the issuance of that IRS determination letter. Plan management believes that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC and that the Plan’s trust continues to be tax-exempt. Therefore, no provision for income taxes has been included in the Plan’s financial statements.

The Plan Administrator is required to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more than 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 asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there currently no audits for any tax periods in progress.
19


9. RECONCILIATION OF FINANCIAL STATEMENTS TO THE FORM 5500

The following tables are reconciliations of participant loans and net assets available for benefits per the financial statements to the Form 5500.
January 1,
Participant Loans - Schedule H, Part I, Line 1c(8), Column (a)20202019
Beginning Balance per Financial Statements$76,418,775 $83,446,674 
Less: Loans Deemed Distributed with No Post-Default Payments(5,492,568)(4,687,356)
Balance Reported on Form 5500$70,926,207 $78,759,318 
December 31,
Participant Loans - Schedule H, Part I, Line 1c(8), Column (b)20202019
Ending Balance per Financial Statements$63,362,301 $76,418,775 
Less: Assets and Activity Related to Loans Deemed Distributed with No Post-Default Payments
(5,579,961)(5,492,568)
Balance Reported on Form 5500$57,782,340 $70,926,207 
January 1,
Net Assets - Schedule H, Part I, Line 1l, Column (a)20202019
Beginning Balance per Financial Statements$4,969,478,191 $4,284,397,175 
Less: Loans Deemed Distributed with No Post-Default Payments(5,492,568)(4,687,356)
Beginning Balance Reported on Form 5500$4,963,985,623 $4,279,709,819 
December 31,
Net Assets - Schedule H, Part I, Line 1l, Column (b)20202019
Ending Balance per Financial Statements$5,363,949,211 $4,969,478,191 
Less: Assets and Activity Related to Loans Deemed Distributed with No Post-Default Payments
(5,579,961)(5,492,568)
Balance Reported on Form 5500$5,358,369,250 $4,963,985,623 
December 31,
Increase (Decrease) in Net Assets - Schedule H, Part II, Line 2k20202019
Per Financial Statements$394,471,020 $675,780,270 
Less: Loans Deemed Distributed(87,393)(805,213)
Reported on Form 5500$394,383,627 $674,975,057 

20



AEP RETIREMENT SAVINGS 401(K) PLAN
PLAN #002 EIN #13-4922641
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2020
Identity of Issuer, Borrower, Lessor or Similar PartyCurrent Value
MANAGED INCOME FUND
MONEY MARKET FUND
(a)JPMORGAN US GOVT MMKT FUND CAPITAL SHARES - FUND$57,371,924 
TOTAL MONEY MARKET FUND$57,371,924 
CORPORATE DEBT SECURITIES
3M CO$159,279 
ABBVIE INC2,251,985 
ADVOCATE HEALTH & HOSPITALS CORP822,252 
AIG GLOBAL FUNDING1,066,672 
AIR PRODUCTS AND CHEMICALS INC148,522 
ALEXANDRIA REAL ESTATE EQUITIES INC772,670 
ALLIANT ENERGY FINANCE LLC203,886 
AMEREN ILLINOIS CO1,594,826 
AMERICAN EXPRESS CO1,648,545 
AMERICAN HONDA FINANCE CORP2,388,132 
AMPHENOL CORP587,254 
ANALOG DEVICES INC38,459 
ANGLO AMERICAN CAPITAL PLC830,382 
ANHEUSER-BUSCH INBEV WORLDWIDE INC173,536 
APPLE INC159,640 
ARCHER-DANIELS-MIDLAND CO219,240 
ASCENSION HEALTH513,156 
AT&T INC1,453,545 
BAE SYSTEMS HOLDINGS INC364,288 
BAE SYSTEMS PLC863,051 
BAKER HUGHES A GE CO LLC606,461 
BANK OF AMERICA CORP4,939,695 
BANK OF MONTREAL689,123 
BANK OF NEW YORK MELLON CORP/THE129,237 
BANK OF NOVA SCOTIA/THE2,281,597 
BAPTIST HEALTH SOUTH FLORIDA INC260,360 
BAXTER INTERNATIONAL INC126,523 
BAYER US FINANCE II LLC935,842 
BLACK HILLS CORP957,124 
BMW US CAPITAL LLC1,476,028 
BNP PARIBAS SA1,410,792 
BOEING CO/THE1,292,543 
BOSTON PROPERTIES LP1,510,839 
BP CAPITAL MARKETS AMERICA INC1,861,426 
BRISTOL-MYERS SQUIBB CO517,954 
BROWN-FORMAN CORP167,214 
CANADIAN NATURAL RESOURCES LTD326,126 
CAPITAL ONE BANK USA NA401,208 
CAPITAL ONE FINANCIAL CORP309,157 
CAPITAL ONE NA908,028 
CARDINAL HEALTH INC195,786 
CARGILL INC886,420 
CARRIER GLOBAL CORP907,881 
CATERPILLAR FINANCIAL SERVICES CORP1,005,526 
CENTERPOINT ENERGY HOUSTON ELECTRIC LLC657,209 
21


CES MU2 LLC1,036,818 
CHARLES SCHWAB CORP/THE127,355 
CHEVRON CORP368,550 
CHEVRON PHILLIPS CHEMICAL CO LLC542,620 
CHRISTUS HEALTH482,950 
CHUBB INA HOLDINGS INC93,160 
CIGNA CORP505,761 
CINTAS CORP NO 21,014,818 
CITIGROUP INC3,793,686 
CITIZENS BANK NA/PROVIDENCE RI539,297 
CLOROX CO/THE797,139 
COCA-COLA CO/THE430,553 
COMCAST CORP1,805,016 
COMMONSPIRIT HEALTH75,526 
CONNECTICUT LIGHT AND POWER CO/THE384,554 
COOPERATIEVE RABOBANK UA1,374,715 
CORNING INC516,193 
CREDIT SUISSE GROUP AG2,040,383 
CRH AMERICA INC609,049 
CROWLEY CONRO LLC702,999 
CVS HEALTH CORP1,157,787 
DAIMLER FINANCE NORTH AMERICA LLC2,631,169 
DANONE SA528,247 
DEERE & CO131,486 
DIAGEO CAPITAL PLC909,293 
DIGITAL REALTY TRUST LP305,715 
DTE ELECTRIC CO454,763 
DUKE ENERGY CAROLINAS LLC441,425 
DUKE ENERGY PROGRESS LLC1,313,941 
DUKE REALTY LP871,140 
DUPONT DE NEMOURS INC1,314,202 
DY9 LEASING LLC1,136,536 
EAST OHIO GAS CO/THE40,780 
EATON CORP146,714 
ECOLAB INC597,792 
EI DU PONT DE NEMOURS AND CO73,695 
EMD FINANCE LLC607,590 
EMERSON ELECTRIC CO127,099 
EMORY UNIVERSITY135,751 
ENTERGY ARKANSAS LLC739,775 
ENTERGY LOUISIANA LLC351,385 
ENTERPRISE PRODUCTS OPERATING LLC864,136 
EQUIFAX INC914,457 
EQUINOR ASA257,825 
ERP OPERATING LP257,719 
EVERGY METRO INC297,177 
EXXON MOBIL CORP299,198 
FEDERAL REALTY INVESTMENT TRUST1,427,922 
FEDERATION DES CAISSES DESJARDIN DU QUEBEC636,626 
FEDEX CORP954,168 
FIDELITY NATIONAL INFORMATION SERVICES INC181,669 
FIFTH THIRD BANCORP435,193 
FIFTH THIRD BANK NA258,995 
FISERV INC1,214,257 
FLORIDA GAS TRANSMISSION CO LLC647,185 
FLORIDA POWER & LIGHT CO76,676 
FMC CORP287,454 
FORD MOTOR CREDIT CO LLC1,034,167 
22


FORTUNE BRANDS HOME & SECURITY INC110,067 
GENERAL DYNAMICS CORP574,130 
GENERAL MILLS INC979,233 
GENERAL MOTORS FINANCIAL CO INC418,518 
GEORGIA-PACIFIC LLC1,245,466 
GGLAXOSMITHKLINE CAPITAL PLC150,644 
GILEAD SCIENCES INC170,839 
GLAXOSMITHKLINE CAPITAL INC204,378 
GLAXOSMITHKLINE CAPITAL PLC1,226,610 
GOLDMAN SACHS GROUP INC/THE3,664,883 
GUARDIAN LIFE GLOBAL FUNDING345,735 
HALLIBURTON CO516,455 
HEALTH CARE SERVICE CORP A MUTUAL LEGAL RESERVE CO246,638 
HEALTHCARE TRUST OF AMERICA HOLDINGS LP194,994 
HEALTHPEAK PROPERTIES INC251,642 
HELIOS LEASING I LLC341,865 
HEWLETT PACKARD ENTERPRISE CO701,060 
HEXCEL CORP361,615 
HONEYWELL INTERNATIONAL INC93,349 
HSBC HOLDINGS PLC2,928,761 
HUNTINGTON NATIONAL BANK/THE403,700 
INTEL CORP778,917 
INTERNATIONAL BUSINESS MACHINES CORP190,001 
JACKSON NATIONAL LIFE GLOBAL FUNDING228,959 
JOHN DEERE CAPITAL CORP197,608 
JOHNS HOPKINS HEALTH SYSTEM CORP/THE276,203 
(a)JPMORGAN CHASE & CO3,792,285 
KAISER FOUNDATION HOSPITALS727,950 
KENTUCKY UTILITIES CO893,224 
KEYBANK NA/CLEVELAND OH574,468 
KEYCORP665,662 
KIMCO REALTY CORP298,071 
KLA CORP96,843 
LAM RESEARCH CORP646,286 
LELAND STANFORD JUNIOR UNI BOARD OF TRUSTEES242,219 
LELAND STANFORD JUNIOR UNIVERSITY/THE273,097 
LOWE'S COS INC68,679 
M&T BANK CORP192,028 
MAGELLAN MIDSTREAM PARTNERS LP543,792 
MANUFACTURERS & TRADERS TRUST CO322,542 
MARATHON PETROLEUM CORP585,227 
MARSH & MCLENNAN COS INC1,157,903 
MARTIN MARIETTA MATERIALS INC203,838 
MASSACHUSETTS INSTITUTE OF TECHNOLOGY380,135 
MASSMUTUAL GLOBAL FUNDING II1,696,035 
MASTERCARD INC172,438 
MAXIM INTEGRATED PRODUCTS INC409,253 
MCCORMICK & CO INC/MD1,263,787 
MCDONALD'S CORP977,832 
METROPOLITAN LIFE GLOBAL FUNDING I192,326 
MICROCHIP TECHNOLOGY INC546,247 
MID-AMERICA APARTMENTS LP299,734 
MITSUBISHI UFJ FINANCIAL GROUP INC2,589,248 
MONDELEZ INTERNATIONAL HOLDINGS NETHERLANDS BV614,792 
MONDELEZ INTERNATIONAL INC107,035 
MONONGAHELA POWER CO467,012 
MORGAN STANLEY3,322,253 
MPLX LP444,521 
23


MSN 41079 AND 41084 LTD569,509 
NATIONAL RETAIL PROPERTIES INC175,249 
NEW YORK AND PRESBYTERIAN HOSPITAL/THE253,183 
NEW YORK HOSPITAL FOR SPECIAL SURGERY90,714 
NEW YORK LIFE GLOBAL FUNDING1,176,990 
NEXTERA ENERGY CAPITAL HOLDINGS INC1,109,997 
NIKE INC241,892 
NORFOLK SOUTHERN CORP113,300 
NORTHROP GRUMMAN CORP459,632 
NOVARTIS CAPITAL CORP429,860 
NUTRIEN LTD298,799 
OCCIDENTAL PETROLEUM CORP175,222 
ONCOR ELECTRIC DELIVERY CO LLC472,904 
ORACLE CORP3,070,213 
ORLANDO HEALTH OBLIGATED GROUP393,370 
OTIS WORLDWIDE CORP781,929 
PACCAR FINANCIAL CORP249,050 
PACIFIC LIFE GLOBAL FUNDING II130,523 
PACIFICORP482,760 
PACKAGING CORP OF AMERICA658,291 
PARKER-HANNIFIN CORP1,107,659 
PAYPAL HOLDINGS INC92,254 
PEACEHEALTH OBLIGATED GROUP81,795 
PERNOD RICARD INTERNATIONAL FINANCE LLC228,504 
PHILLIPS 66846,997 
PHOENIX 2012 LLC689,449 
PNC BANK NA644,741 
PPG INDUSTRIES INC664,139 
PROVIDENCE ST JOSEPH HEALTH OBLIGATED GROUP790,301 
PUBLIC SERVICE CO OF NEW HAMPSHIRE445,093 
PUBLIC SERVICE ELECTRIC AND GAS CO1,460,378 
RAYTHEON TECHNOLOGIES CORP213,199 
REALTY INCOME CORP629,647 
REGIONS FINANCIAL CORP667,662 
RELX CAPITAL INC572,294 
RIMON LLC970,270 
ROCHESTER GAS AND ELECTRIC CORP398,924 
ROGERS COMMUNICATIONS INC498,824 
ROLLS-ROYCE PLC274,118 
ROPER TECHNOLOGIES INC1,245,955 
ROYAL BANK OF CANADA2,834,178 
RYDER SYSTEM INC463,333 
SCHLUMBERGER FINANCE CANADA LTD301,692 
SCHLUMBERGER INVESTMENT SA869,434 
SHELL INTERNATIONAL FINANCE BV1,938,947 
SHERWIN-WILLIAMS CO/THE389,984 
SIEMENS FINANCIERINGSMAATSCHAPPIJ NV359,616 
SIMON PROPERTY GROUP LP179,429 
SOUTHERN CALIFORNIA EDISON CO827,166 
SOUTHWESTERN PUBLIC SERVICE CO167,489 
STANFORD HEALTH CARE178,463 
STANLEY BLACK & DECKER INC457,477 
STARBUCKS CORP237,560 
STATE STREET CORP988,965 
SUMITOMO MITSUI FINANCIAL GROUP INC1,224,779 
SUTTER HEALTH504,172 
TAGUA LEASING LLC728,342 
TARGET CORP139,777 
24


TEVA PHARMACEUTICAL FINANCE NETHERLANDS III BV231,674 
THERMO FISHER SCIENTIFIC INC253,600 
TORONTO-DOMINION BANK/THE2,544,260 
TOTAL CAPITAL INTERNATIONAL SA578,195 
TOYOTA MOTOR CORP1,041,580 
TOYOTA MOTOR CREDIT CORP586,972 
TRANE TECHNOLOGIES LUXEMBOURG FINANCE SA875,815 
TRANS-ALLEGHENY INTERSTATE LINE CO219,088 
TRUIST BANK1,303,553 
TRUIST FINANCIAL CORP761,846 
TSMC GLOBAL LTD786,521 
TYCO ELECTRONICS GROUP SA353,124 
UBS AG/LONDON204,239 
UBS GROUP AG841,182 
UNION ELECTRIC CO254,330 
UNION PACIFIC CORP1,220,164 
UNITED PARCEL SERVICE INC547,871 
UNITEDHEALTH GROUP INC591,323 
US BANK NA/CINCINNATI OH885,885 
USAA CAPITAL CORP154,238 
VENTAS REALTY LP298,034 
VERIZON COMMUNICATIONS INC488,555 
VIRGINIA ELECTRIC AND POWER CO253,216 
VODAFONE GROUP PLC494,314 
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC423,877 
VORNADO REALTY LP144,578 
WALT DISNEY CO/THE1,183,072 
WASTE MANAGEMENT INC167,580 
WELLTOWER INC1,128,243 
WESTPAC BANKING CORP573,084 
WESTROCK RKT LLC698,959 
WRKCO INC130,284 
XCEL ENERGY INC684,990 
YALE UNIVERSITY1,099,680 
TOTAL CORPORATE DEBT SECURITIES$182,541,014 
GOVERNMENT BONDS
ABILENE INDEPENDENT SCHOOL DISTRICT$577,894 
ANTELOPE VALLEY COMMUNITY COLLEGE DISTRICT579,406 
BOERNE SCHOOL DISTRICT1,265,381 
CHIPPEWA VALLEY SCHOOLS441,454 
CITY & COUNTY OF HONOLULU HI526,305 
CITY OF CHESAPEAKE VA485,614 
CITY OF HOUSTON TX292,937 
CITY OF SAN ANTONIO TX496,911 
CLACKAMAS & WASHINGTON COUNTIES SCHOOL DIST NO 3816,139 
CLEVELAND CLINIC HEALTH SYSTEM886,510 
COAST COMMUNITY COLLEGE DISTRICT481,426 
COMMONWEALTH OF MASSACHUSETTS650,600 
COUNTY OF BROWARD FL AIRPORT SYSTEM REVENUE722,970 
COUNTY OF MONTGOMERY MD510,697 
COUNTY OF NORTHAMPTON PA480,830 
CURATORS OF THE UNIVERSITY OF MISSOURI/THE499,459 
DEKALB KANE LASALLE COUNTIES COMM COLLEGE DIST 523244,446 
DENVER DEDICATED TAX646,549 
EQUINOR ASA666,710 
FLORIDA WATER POLLUTION CONTROL FINANCING CORP934,224 
HONOLULU CITY & COUNTY BOARD OF WATER SUPPLY225,518 
HOUSTON TX UTILITY SYS REVENUE 303,423 
25


INDIANA UNIVERSITY798,841 
JOBSOHIO BEVERAGE SYSTEM180,316 
KELLER INDEPENDENT SCHOOL DISTRICT/TX567,315 
LAKOTA LOCAL SCHOOL DISTRICT/BUTLER COUNTY375,493 
LINN COUNTY COMMUNITY SCHOOL DISTRICT NO 9 LEBANON1,649,179 
LOS ANGELES COMMUNITY COLLEGE DISTRICT/CA844,868 
MASSACHUSETTS SCHOOL BUILDING AUTHORITY580,624 
MASSACHUSETTS WATER RESOURCES AUTHORITY489,309 
MD COMM DEV ADMIN HOUSING REV214,864 
MISSOURI HIGHER ED LN AUTH802,975 
MOUNTAIN VIEW-WHISMAN SCHOOL DISTRICT554,571 
NEW YORK STATE DORMITORY AUTHORITY332,468 
NEW YORK STATE URBAN DEVELOPMENT CORP879,876 
NYC TRANSITIONAL FINANCE AUTH FUTURE TAX SEC REV549,726 
OHLONE COMMUNITY COLLEGE DISTRICT510,125 
PETROLEOS MEXICANOS2,903,995 
SAN JOSE REDEVELOPMENT AGENCY SUCCESSOR AGENCY412,595 
SANTA ANA COMMUNITY REDEVELOPMENT AGENCY1,158,618 
SOUTH DAKOTA STATE BUILDING AUTHORITY577,253 
STATE OF CALIFORNIA1,096,628 
STATE OF HAWAII1,127,777 
STATE OF LOUISIANA GASOLINE & FUELS TAX REVENUE776,445 
STATE OF NEW YORK1,864,336 
STATE OF OHIO778,207 
STATE OF OREGON1,075,394 
STATE OF OREGON DEPARTMENT OF TRANSPORTATION254,422 
STATE OF TEXAS1,590,500 
STATE OF UTAH871,986 
STATE OF WASHINGTON848,711 
STATE OF WISCONSIN1,436,082 
TEXAS TECH UNIVERSITY SYSTEM384,091 
TEXAS TRANSPORTATION COMMISSION STATE HIGHWAY FUND455,870 
TRINITY HEALTH685,968 
TWIN FALLS COUNTY SCHOOL DIST NO 411 TWIN FALLS623,517 
UNITED STATES TREASURY NOTE/BOND132,643,736 
UNIVERSITY OF CALIFORNIA526,448 
UNIVERSITY OF MICHIGAN448,149 
UNIVERSITY OF PENNSYLVANIA343,534 
WASHINGTON & CLACKAMAS SCHOOL568,327 
WISCONSIN ST GEN FUND APPROP576,307 
TOTAL GOVERNMENT BONDS$176,094,852 
MORTGAGE BACKED SECURITIES
ALLY AUTO RECEIVABLES TRUST 2018-3$217,599 
ALLY AUTO RECEIVABLES TRUST 2019-3259,316 
AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST2,316,750 
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2018-2408,250 
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2019-3376,055 
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2020-2623,362 
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2020-3887,199 
ARI FLEET LEASE TRUST 2018-B305,514 
BA CREDIT CARD TRUST1,446,482 
BMW VEHICLE OWNER TRUST 2020-A652,826 
BRAZOS HIGHER EDUCATION AUTHORITY INC672,542 
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2019-2590,921 
CARMAX AUTO OWNER TRUST1,153,619 
CARMAX AUTO OWNER TRUST 2019-4781,949 
CARMAX AUTO OWNER TRUST 2020-1718,693 
CARMAX AUTO OWNER TRUST 2020-2826,427 
26


CARMAX AUTO OWNER TRUST 2020-4938,597 
CHESAPEAKE FUNDING II LLC1,429,704 
CITIGROUP COMMERCIAL MORTGAGE TRUST 2013-GC11510,804 
CITIGROUP COMMERCIAL MORTGAGE TRUST 2014-GC21964,601 
CNH EQUIPMENT TRUST 2017-B211,493 
CNH EQUIPMENT TRUST 2018-B606,074 
COMM 2012-CCRE5 MORTGAGE TRUST2,072,141 
COMM 2013-CCRE10 MORTGAGE TRUST517,130 
COMM 2013-CCRE6 MORTGAGE TRUST1,039,373 
COMM 2013-CCRE7 MORTGAGE TRUST322,198 
COMM 2013-LC6 MORTGAGE TRUST835,660 
COMM 2014-CCRE17 MORTGAGE TRUST1,492,965 
COMM 2014-CR14 MORTGAGE TRUST1,741,353 
DBUBS 2011-LC2 MORTGAGE TRUST786,692 
DELL EQUIPMENT FINANCE TRUST 2018-181,249 
DELL EQUIPMENT FINANCE TRUST 2019-2508,831 
DELL EQUIPMENT FINANCE TRUST 2020-1728,815 
DELL EQUIPMENT FINANCE TRUST 2020-2732,592 
ECMC GROUP STUDENT LOAN TRUST 2018-2895,040 
EDLINC STUDENT LOAN FUNDING TRUST 2012-1237,363 
EDSOUTH INDENTURE NO 2 LLC283,814 
EDU FUND OF SOUTH583,229 
ENTERPRISE FLEET FINANCING 2018-2 LLC301,860 
ENTERPRISE FLEET FINANCING 2019-3 LLC380,588 
ENTERPRISE FLEET FINANCING 2020-2 LLC747,155 
FANNIE MAE OR FREDDIE MAC39,239,128 
FANNIE MAE POOL83,567,708 
FANNIE MAE-ACES316,614 
FORD CREDIT AUTO LEASE TRUST 2020-A1,455,444 
FORD CREDIT AUTO LEASE TRUST 2020-B733,300 
FORD CREDIT AUTO OWNER TR411,377 
FORD CREDIT AUTO OWNER TRUST1,994,868 
FORD CREDIT AUTO OWNER TRUST 2018-REV22,008,077 
FORD CREDIT AUTO OWNER TRUST 2019-C734,644 
FORD CREDIT AUTO OWNER TRUST 2020-A860,751 
FORD CREDIT AUTO OWNER TRUST 2020-B1,316,143 
FORD CREDIT AUTO OWNER TRUST 2020-C1,139,454 
FORD CREDIT AUTO OWNER TRUST 2020-REV11,408,549 
FREDDIE MAC GOLD POOL22,589,725 
FREDDIE MAC MULTIFAM STRUCT PT CERT155,613 
FREDDIE MAC MULTIFAMILY STRUCTURED PT CERTIFICATES2,703,404 
FREDDIE MAC NON GOLD POOL5,626,932 
FREDDIE MAC POOL12,689,273 
GINNIE MAE II POOL16,455 
GM FIN CONSUMER AUTO RECV TR 2017-3A87,339 
GM FIN CONSUMER AUTO RECV TR 2018-2325,520 
GM FINANCIAL AUTOMOBILE LEASING TRUST 2020-2790,493 
GM FINANCIAL AUTOMOBILE LEASING TRUST 2020-3802,099 
GM FINANCIAL CONSUMER AUTO REC TRUST 2020-31,205,045 
GM FINANCIAL CONSUMER AUTOMOBILE REC TRUST 2018-3534,843 
GM FINANCIAL CONSUMER AUTOMOBILE REC TRUST 2020-1465,204 
GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST417,761 
GNMA4,251,924 
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION1,593,321 
GS MORTGAGE SECURITIES TRUST 2011-GC5975,640 
GS MORTGAGE SECURITIES TRUST 2013-GC13499,118 
GS MORTGAGE SECURITIES TRUST 2013-GC161,772,602 
GS MORTGAGE SECURITIES TRUST 2014-GC261,881,686 
27


HARLEY-DAVIDSON MOTORCYCLE TRUST 2020-A808,212 
HONDA AUTO RECEIVABLES 2018-2 OWNER TRUST297,988 
HONDA AUTO RECEIVABLES 2019-4 OWNER TRUST561,555 
HONDA AUTO RECEIVABLES 2020-2 OWNER TRUST654,330 
HONDA AUTO RECEIVABLES 2020-3 OWNER TRUST766,396 
HYUNDAI AUTO LEASE SECURITIZATION TRUST 2020-A671,277 
HYUNDAI AUTO LEASE SECURITIZATION TRUST 2020-B1,344,909 
HYUNDAI AUTO RECEIVABLES TRUST 2018-A94,908 
HYUNDAI AUTO RECEIVABLES TRUST 2020-A1,076,977 
HYUNDAI AUTO RECEIVABLES TRUST 2020-B979,299 
JOHN DEERE OWNER TRUST 2018-B520,374 
JOHN DEERE OWNER TRUST 2020557,169 
JOHN DEERE OWNER TRUST 2020-B526,807 
(a)JPMBB COMMERCIAL MORTGAGE SEC TRUST 2014-C26595,270 
(a)JPMBB COMML MTG SEC TR365,432 
(a)JPMORGAN CHASE COMML MTG SEC TR2,219,042 
(a)JPMORGAN COMM MTG SEC TR631,368 
MERCEDES-BENZ AUTO LEASE TRUST 2019-B719,726 
MERCEDES-BENZ AUTO LEASE TRUST 2020-A517,542 
MERCEDES-BENZ AUTO LEASE TRUST 2020-B756,725 
MERCEDES-BENZ AUTO RECEIVABLES TRUST 2018-1495,055 
MERCEDES-BENZ AUTO RECEIVABLES TRUST 2020-1824,441 
MISSOURI HIGHER ED LN AUTH634,613 
MMAF EQUIPMENT FINANCE LLC 2017-A769,445 
MMAF EQUIPMENT FINANCE LLC 2017-B1,103,278 
MMAF EQUIPMENT FINANCE LLC 2018-A931,972 
MMAF EQUIPMENT FINANCE LLC 2019-A558,359 
MMAF EQUIPMENT FINANCE LLC 2019-B788,234 
MMAF EQUIPMENT FINANCE LLC 2020-B660,522 
MO STATE HIGHER ED STD ASST378,606 
MORGAN STANLEY BAML TRUST1,453,958 
MORGAN STANLEY BAML TRUST 2014 C19801,877 
MORGAN STANLEY BAML TRUST 2014-C161,760,817 
MORGAN STANLEY CAPITAL I TRUST 2011-C31,243,049 
NAVIENT STUDENT LOAN TRUST 2016-6629,014 
NISSAN AUTO LEASE TRUST 2020-A1,051,489 
NISSAN AUTO LEASE TRUST 2020-B846,375 
NISSAN AUTO RECEIVABLES 2018-B OWNER TRUST595,772 
NISSAN AUTO RECEIVABLES 2019-C OWNER TRUST811,896 
NISSAN AUTO RECEIVABLES 2020-A OWNER TRUST794,941 
NISSAN AUTO RECEIVABLES 2020-B OWNER TRUST617,693 
NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTH867,619 
PHEAA STUDENT LOAN TRUST 2014-21,023,624 
SANTANDER RETAIL AUTO LEASE TRUST 2019-C667,541 
SANTANDER RETAIL AUTO LEASE TRUST 2020-A966,360 
SANTANDER RETAIL AUTO LEASE TRUST 2020-B903,084 
SBA SMALL BUSINESS INVESTMENT COS13,462,236 
SEASONED CREDIT RISK TRANSFER TRUST SERIES 2018-2340,422 
SEASONED CREDIT RISK TRANSFER TRUST SERIES 2018-3257,781 
SEASONED CREDIT RISK TRANSFER TRUST SERIES 2019-1868,212 
SEASONED CREDIT RISK TRANSFER TRUST SERIES 2019-2997,317 
SEASONED CREDIT RISK TRANSFER TRUST SERIES 2019-3635,563 
SEASONED CREDIT RISK TRANSFER TRUST SERIES 2020-22,602,204 
SEASONED CREDIT RISK TRANSFER TRUST SERIES 2020-39,192,813 
SLCC STUDENT LOAN TRUST I250,602 
STUDENT LOAN CORP582,465 
TOWD POINT MORTGAGE TRUST 2015-6322,955 
28


TOWD POINT MORTGAGE TRUST 2016-1224,241 
TOWD POINT MORTGAGE TRUST 2016-3203,855 
TOWD POINT MORTGAGE TRUST 2016-4119,831 
TOWD POINT MORTGAGE TRUST 2017-1296,316 
TOWD POINT MORTGAGE TRUST 2017-544,902 
TOWD POINT MORTGAGE TRUST 2017-6575,561 
TOWD POINT MORTGAGE TRUST 2018-21,474,137 
TOWD POINT MORTGAGE TRUST 2018-31,109,177 
TOWD POINT MORTGAGE TRUST 2019-41,582,877 
TOYOTA AUTO LOAN EXTENDED NOTE TRUST 2019-1886,717 
TOYOTA AUTO LOAN EXTENDED NOTE TRUST 2020-11,544,868 
TOYOTA AUTO RECEIVABLES 2019-D OWNER TRUST571,645 
TOYOTA AUTO RECEIVABLES 2020-A OWNER TRUST857,222 
TOYOTA AUTO RECEIVABLES 2020-B OWNER TRUST590,739 
TOYOTA AUTO RECEIVABLES 2020-C OWNER TRUST735,556 
UBS-BARCLAYS COMMERCIAL MORTGAGE TRUST 2012-C4935,043 
UNITED STATES SMALL BUSINESS ADMINISTRATION3,298,088 
UTAH STATE BOARD OF REGENTS1,458,028 
VERIZON OWNER TRUST 2018-A685,035 
VERIZON OWNER TRUST 2019-A1,703,887 
VERIZON OWNER TRUST 2019-B1,020,506 
VERIZON OWNER TRUST 2019-C740,984 
VERIZON OWNER TRUST 2020-A1,367,804 
VERIZON OWNER TRUST 2020-B1,008,702 
VERIZON OWNER TRUST 2020-C906,784 
VERMONT STD ASST CORP1,029,862 
VOLKSWAGEN AUTO LEASE TRUST 2019-A375,727 
VOLKSWAGEN AUTO LEASE TRUST 2020-A951,252 
VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2018-1491,215 
VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2020-1737,983 
VOLVO FINANCIAL EQUIPMENT LLC926,528 
WFRBS COMMERCIAL MORTGAGE TRUST 2012-C10654,138 
WFRBS COMMERCIAL MORTGAGE TRUST 2013-C111,748,562 
WFRBS COMMERCIAL MORTGAGE TRUST 2013-C172,169,780 
WFRBS COMMERCIAL MORTGAGE TRUST 2014-C201,384,483 
WHEELS SPV 2 LLC255,984 
WORLD OMNI AUTO RECEIVABLES TRUST1,298,193 
WORLD OMNI AUTO RECEIVABLES TRUST 2018-B298,122 
WORLD OMNI AUTO RECEIVABLES TRUST 2019-A607,328 
WORLD OMNI AUTO RECEIVABLES TRUST 2019-C888,191 
WORLD OMNI AUTO RECEIVABLES TRUST 2020-A1,103,224 
WORLD OMNI AUTO RECEIVABLES TRUST 2020-C853,133 
WORLD OMNI AUTOMOBILE LEASE SEC TRUST 2018-B460,546 
WORLD OMNI AUTOMOBILE LEASE SEC TRUST 2020-B511,387 
WORLD OMNI SELECT AUTO TRUST 2019-A945,614 
TOTAL MORTGAGE BACKED SECURITIES$333,748,153 
Net Assets Pending Settlement$(39,425,840)
SUBTOTAL STABLE VALUE FUND$710,330,103 
TOTAL - INVESTMENT CONTRACTS$710,330,103 
ADJUSTMENT FROM FAIR VALUE TO CONTRACT VALUE$(28,541,140)
TOTAL - INVESTMENT CONTRACTS AT CONTRACT VALUE$681,788,963 
29


AEP RETIREMENT SAVINGS 401(K) PLAN
PLAN #002 EIN #13-4922641
SCHEDULE OF ASSETS (HELD AT END OF YEAR (continued)
DECEMBER 31, 2020
Identity of Issuer, Borrower, Lessor or Similar PartyCurrent Value
CASH EQUIVALENTS
CASH EQUIVALENTS$4,659,795 
TOTAL CASH EQUIVALENTS$4,659,795 
COMMON / COLLECTIVE TRUSTS
EB DL NON SL EMERGING MARKETS STOCK INDEX FUND$50,660,881 
EB DAILY LIQUIDITY NON SL AGGREGATE BOND INDEX FUND575,341,739 
EB DAILY LIQUIDITY NON SL INTERNATIONAL STOCK INDEX FUND660,031,838 
EB DAILY LIQUIDITY NON SL SMALL CAP STOCK210,808,132 
EB DAILY LIQUIDITY NON SL STOCK INDEX FUND1,109,531,125 
EB DAILY LIQUIDITY MID CAP STOCK INDEX FUND401,692,712 
EB DL NON SL TREASURY INFLATION PROTECTED SECURITIES FUND26,571,999 
(a)JPMCB STRATEGIC PROPERTY FUND65,129,429 
(a)JPMCB LIQUIDITY FUND21,682,463 
METWEST TOTAL RETURNED BOND FUND C CLASS SHARES67,993,031 
COLUMBIA TRUST FOCUSED LARGE CAP GROWTH FUND246,556,207 
TOTAL COMMON / COLLECTIVE TRUSTS$3,435,999,556 
AEP STOCK
(a)AMERICAN ELECTRIC POWER COMPANY, INC.   COMMON STOCK $6.50 PAR VALUE$323,077,524 
TOTAL AEP STOCK$323,077,524 
CORPORATE STOCKS
2U INC COMMON STOCK USD 0.001$2,090,723 
8X8 INC COMMON STOCK USD 0.0011,045,992 
AARON'S CO INC/THE COMMON STOCK USD 0.5137,763 
ABIOMED INC COMMON STOCK USD 0.014,076,815 
ABM INDUSTRIES INC COMMON STOCK USD 0.012,327,917 
ACCO BRANDS CORP COMMON STOCK USD 0.01195,609 
ACTIVISION BLIZZARD INC COMMON STOCK USD 0.000001540,294 
ACUITY BRANDS INC COMMON STOCK USD 0.01284,198 
ADOBE INC COMMON STOCK USD 0.00016,305,513 
ADTALEM GLOBAL EDUCATION INC COMMON STOCK USD 0.01986,689 
ADYEN NV ADR USD4,942,435 
AECOM COMMON STOCK USD 0.01445,830 
AEGION CORP COMMON STOCK EUR 0.01177,177 
AERCAP HOLDINGS NV COMMON STOCK USD 0.01354,476 
AES CORP/THE COMMON STOCK USD 0.01319,718 
AGCO CORP COMMON STOCK USD 0.01303,806 
AGIOS PHARMACEUTICALS INC COMMON STOCK USD 0.001597,044 
AGNC INVESTMENT CORP REIT USD 0.01228,757 
AIRBNB INC COMMON STOCK USD 0.0001166,912 
AKAMAI TECHNOLOGIES INC COMMON STOCK USD 0.011,212,844 
ALASKA AIR GROUP INC COMMON STOCK USD 0.01218,920 
ALLAKOS INC COMMON STOCK USD 0.001515,200 
ALLEGHANY CORP COMMON STOCK USD 12,511,954 
ALLIANCE DATA SYSTEMS CORP COMMON STOCK USD 0.01242,529 
ALLISON TRANSMISSION HOLDINGS INC COMMON STOCK USD297,856 
ALLY FINANCIAL INC COMMON STOCK USD 0.11,423,476 
ALPHABET INC COMMON STOCK USD 0.00113,120,712 
ALTICE USA INC COMMON STOCK USD 0.01797,239 
AMAZON.COM INC COMMON STOCK USD 0.0116,108,776 
AMDOCS LTD197,170 
AMERICAN FINANCIAL GROUP INC/OH COMMON STOCK USD 0302,815 
AMERICAN TOWER CORP REIT USD 0.012,263,470 
AMERICOLD REALTY TRUST135,407 
30


AMERIPRISE FINANCIAL INC COMMON STOCK USD 0.01401,874 
AMERISOURCEBERGEN CORP COMMON STOCK USD 0.01478,144 
AMGEN INC COMMON STOCK USD 0.0001441,216 
AMN HEALTHCARE SERVICES INC COMMON STOCK USD 0.011,068,863 
AMPHENOL CORP COMMON STOCK USD 0.0011,205,883 
ANAPLAN INC COMMON STOCK USD 0.00013,338,079 
ANTHEM INC COMMON STOCK USD 0.011,805,810 
APACHE CORP COMMON STOCK EUR 0.625339,482 
APPLE INC COMMON STOCK USD 0.0000112,711,702 
APPLIED MATERIALS INC COMMON STOCK USD 0.012,361,427 
APTIV PLC COMMON STOCK USD 0.011,574,424 
ARCH CAPITAL GROUP LTD COMMON STOCK USD 0.01493,257 
ARCHER-DANIELS-MIDLAND CO COMMON STOCK USD 0117,304 
ARES COMMERCIAL REAL ESTATE CORP REIT USD 0.0190,968 
ARGO GROUP INTERNATIONAL HOLDINGS LTD COMMON STOCK366,250 
ARROW ELECTRONICS INC COMMON STOCK USD 1299,198 
ARVINAS INC COMMON STOCK USD 0.001252,242 
ASGN INC COMMON STOCK USD 0.01610,771 
ASHLAND GLOBAL HOLDINGS INC COMMON STOCK USD 0671,299 
ASSURANT INC COMMON STOCK USD 0.01702,487 
ASSURED GUARANTY LTD COMMON STOCK USD 0.01325,197 
ASTRAZENECA PLC ADR USD3,261,848 
ATLANTIC UNION BANKSHARES CORP COMMON STOCK USD183,015 
ATLASSIAN CORP PLC COMMON STOCK USD 0.11,909,081 
AUTOLIV INC COMMON STOCK USD 1301,443 
AUTOZONE INC COMMON STOCK USD 0.01512,110 
AVALONBAY COMMUNITIES INC REIT USD 0.01409,263 
AVANTOR INC COMMON STOCK USD 0.01416,113 
AXIS CAPITAL HOLDINGS LTD COMMON STOCK USD 0.01251,234,581 
AXOGEN INC COMMON STOCK USD 0.011,031,344 
BANCFIRST CORP COMMON STOCK USD 1100,553 
BANCORPSOUTH BANK COMMON STOCK USD 2.5155,667 
BANK OF AMERICA CORP COMMON STOCK USD 0.013,109,897 
BANK OF NEW YORK MELLON CORP/THE COMMON STOCK USD401,398 
BANK OZK COMMON STOCK USD681,186 
BANKUNITED INC COMMON STOCK USD 0.01250,242 
BELDEN INC COMMON STOCK USD 0.011,704,809 
BERKSHIRE HATHAWAY INC COMMON STOCK USD 0.00331,808,586 
BERRY GLOBAL GROUP INC COMMON STOCK USD 0.01129,574 
BEST BUY CO INC COMMON STOCK USD 0.1469,491 
BILL.COM HOLDINGS INC COMMON STOCK USD 0.000013,150,693 
BIO-TECHNE CORP COMMON STOCK USD 0.015,411,687 
BIOTELEMETRY INC COMMON STOCK USD 0.0012,594,952 
BJ'S WHOLESALE CLUB HOLDINGS INC COMMON STOCK USD479,980 
BLACKSTONE GROUP INC/THE COMMON STOCK USD 01,380,453 
BLACKSTONE MORTGAGE TRUST INC REIT USD 0.01162,904 
BLOOMIN' BRANDS INC COMMON STOCK USD 0.01153,340 
BMC STOCK HOLDINGS INC COMMON STOCK EUR 0.01258,362 
BOOKING HOLDINGS INC COMMON STOCK USD 0.0081,781,816 
BOOZ ALLEN HAMILTON HOLDING CORP COMMON STOCK USD1,366,895 
BORGWARNER INC COMMON STOCK USD 0.01275,387 
BP PLC ADR USD153,982 
BRUNSWICK CORP/DE COMMON STOCK USD 0.75516,907 
BWX TECHNOLOGIES INC COMMON STOCK USD 0.01276,625 
CABOT CORP COMMON STOCK USD 1136,974 
CABOT OIL & GAS CORP COMMON STOCK USD 0.11,473,340 
CADENCE DESIGN SYSTEMS INC COMMON STOCK USD 0.011,280,259 
CALLAWAY GOLF CO COMMON STOCK USD 0.0127,203 
CAMPBELL SOUP CO COMMON STOCK USD 0.0375457,004 
CAPITAL ONE FINANCIAL CORP COMMON STOCK USD 0.012,471,250 
CARDINAL HEALTH INC COMMON STOCK USD 0447,716 
CARGURUS INC COMMON STOCK USD 0.001558,734 
31


CARLISLE COS INC COMMON STOCK USD 1643,618 
CARLYLE GROUP INC/THE COMMON STOCK USD 11,821,665 
CARTER'S INC COMMON STOCK USD 0.01761,873 
CATHAY GENERAL BANCORP COMMON STOCK USD 0.01104,038 
CDK GLOBAL INC COMMON STOCK USD 0.01238,055 
CDW CORP/DE COMMON STOCK USD 0.011,194,940 
CELANESE CORP COMMON STOCK USD 0.0001120,195 
CENOVUS ENERGY INC COMMON STOCK CAD 0147,467 
CENTERPOINT ENERGY INC COMMON STOCK USD 0.01432,259 
CENTURYLINK INC COMMON STOCK USD 1241,108 
CH ROBINSON WORLDWIDE INC COMMON STOCK USD 0.11,281,397 
CHAMPIONX CORP COMMON STOCK USD 0.01632,227 
CHANGE HEALTHCARE INC COMMON STOCK USD 0.001635,965 
CHANNELADVISOR CORP COMMON STOCK USD 0.001439,897 
CHENIERE ENERGY INC COMMON STOCK USD 0.003312,756 
CHEVRON CORP COMMON STOCK USD 0.75148,041 
CHIPOTLE MEXICAN GRILL INC COMMON STOCK USD 0.012,455,863 
CHUBB LTD COMMON STOCK USD 24.151,098,370 
CIGNA CORP COMMON STOCK USD 0.012,664,704 
CIMPRESS PLC COMMON STOCK USD 0.01972,598 
CITIGROUP INC2,882,975 
CITIZENS FINANCIAL GROUP INC COMMON STOCK USD 0.01400,762 
CLEAN HARBORS INC COMMON STOCK USD 0.011,926,243 
CLEARWATER PAPER CORP COMMON STOCK USD 0.0001167,799 
COHERENT INC COMMON STOCK USD 0.01204,627 
COLFAX CORP COMMON STOCK USD 0.001584,116 
COLUMBIA BANKING SYSTEM INC COMMON STOCK USD 0174,187 
COMCAST CORP COMMON STOCK USD 0.012,171,980 
COMMSCOPE HOLDING CO INC COMMON STOCK USD 0.01187,252 
CONAGRA BRANDS INC1,584,562 
CONCENTRIX CORP COMMON STOCK USD499,817 
CONDUENT INC COMMON STOCK USD 0.01155,246 
CONOCOPHILLIPS COMMON STOCK USD 0.01152,802 
COOPER COS INC/THE COMMON STOCK USD 0.11,254,907 
CORNING INC COMMON STOCK USD 0.51,175,148 
CORPORATE OFFICE PROPERTIES TRUST REIT USD 0.01507,571 
COSTCO WHOLESALE CORP COMMON STOCK USD 0.0054,108,032 
COUPA SOFTWARE INC COMMON STOCK USD 0.00012,323,906 
COUSINS PROPERTIES INC REIT USD 1446,836 
COVANTA HOLDING CORP COMMON STOCK USD 0.1126,380 
CRANE CO COMMON STOCK USD 1309,397 
CROCS INC COMMON STOCK USD 0.001471,892 
CROWN HOLDINGS INC COMMON STOCK USD 5117,535 
CUMMINS INC COMMON STOCK USD 2.5291,369 
CURTISS-WRIGHT CORP COMMON STOCK USD 1313,680 
DANA INC1,033,135 
DANAHER CORP COMMON STOCK USD 0.012,989,537 
DAVITA INC COMMON STOCK USD 0.001491,319 
DECIPHERA PHARMACEUTICALS INC COMMON STOCK USD819,925 
DECKERS OUTDOOR CORP COMMON STOCK USD 0.01510,468 
DENTSPLY SIRONA INC COMMON STOCK USD 0.012,141,575 
DEXCOM INC COMMON STOCK USD 0.0011,901,470 
DIAMONDBACK ENERGY INC COMMON STOCK USD 0.01417,934 
DICK'S SPORTING GOODS INC COMMON STOCK USD 0.01491,613 
DISCOVER FINANCIAL SERVICES COMMON STOCK USD 0.01425,038 
DOLBY LABORATORIES INC COMMON STOCK USD 0.0013,717,262 
DOLLAR GENERAL CORP COMMON STOCK USD 0.875488,737 
DOMINION ENERGY INC COMMON STOCK USD 0249,288 
DONNELLEY FINANCIAL SOLUTIONS INC COMMON STOCK USD212,040 
DOVER CORP COMMON STOCK USD 11,015,176 
DR HORTON INC COMMON STOCK USD 0.01474,928 
DXC TECHNOLOGY CO COMMON STOCK USD 0.01132,046 
32


EAST WEST BANCORP INC COMMON STOCK USD 0.001217,495 
EASTMAN CHEMICAL CO COMMON STOCK USD 0.01512,598 
EATON CORP PLC COMMON STOCK USD 0.01871,015 
EDWARDS LIFESCIENCES CORP COMMON STOCK USD 13,024,731 
ELANCO ANIMAL HEALTH INC COMMON STOCK USD 01,599,441 
ELASTIC NV COMMON STOCK USD 0.014,986,540 
ELEMENT SOLUTIONS INC COMMON STOCK USD 0.01342,703 
ELI LILLY & CO COMMON STOCK USD 02,556,744 
EMCOR GROUP INC COMMON STOCK USD 0.01443,947 
EMERSON ELECTRIC CO COMMON STOCK USD 0.5280,813 
ENCOMPASS HEALTH CORP COMMON STOCK USD 0.01697,280 
ENERGIZER HOLDINGS INC COMMON STOCK USD 0434,412 
ENERSYS COMMON STOCK USD 0.01928,362 
ENTERGY CORP COMMON STOCK USD 0.01731,128 
ENVISTA HOLDINGS CORP COMMON STOCK USD 0.01808,272 
EOG RESOURCES INC COMMON STOCK USD 0.011,708,048 
EPR PROPERTIES REIT USD 0.01353,340 
EQT CORP COMMON STOCK USD 0293,957 
EQUITABLE HOLDINGS INC COMMON STOCK USD 0.01383,006 
EQUITRANS MIDSTREAM CORP COMMON STOCK USD126,686 
EQUITY COMMONWEALTH REIT USD 0.011,549,804 
ESSENT GROUP LTD COMMON STOCK USD 0.015515,549 
ESTEE LAUDER COS INC/THE COMMON STOCK USD 0.013,742,898 
EURONET WORLDWIDE INC COMMON STOCK USD 0.021,782,081 
EVERCORE INC COMMON STOCK USD 0.011,038,510 
EVEREST RE GROUP LTD COMMON STOCK USD 0.01267,097 
EVERGY INC COMMON STOCK USD 01,000,124 
EVERTEC INC COMMON STOCK USD 0.01269,539 
EXACT SCIENCES CORP COMMON STOCK USD 0.01826,208 
EXELON CORP COMMON STOCK USD 0267,295 
EXTENDED STAY AMERICA INC UNIT USD 0.01138,459 
EXXON MOBIL CORP COMMON STOCK USD 0161,376 
FACEBOOK INC COMMON STOCK USD 0.0000068,566,571 
FAIR ISAAC CORP COMMON STOCK USD 0.011,123,777 
FARFETCH LTD COMMON STOCK USD 0.043,160,318 
FEDERAL AGRICULTURAL MORTGAGE CORP COMMON STOCK110,410 
FIDELITY NATIONAL FINANCIAL INC COMMON STOCK USD619,577 
FIFTH THIRD BANCORP COMMON STOCK USD 0174,028 
FIREEYE INC COMMON STOCK USD 0.0001848,400 
FIRST AMERICAN FINANCIAL CORP COMMON STOCK USD229,857 
FIRST CITIZENS BANCSHARES INC/NC COMMON STOCK USD190,814 
FIRST HAWAIIAN INC COMMON STOCK USD 0.01702,825 
FIRST HORIZON CORP COMMON STOCK USD 0.625160,314 
FIRST MERCHANTS CORP COMMON STOCK USD 0184,693 
FIRST OF LONG ISLAND CORP/THE COMMON STOCK USD 0.150,373 
FIRSTCASH INC501,907 
FISERV INC COMMON STOCK USD 0.011,781,909 
FIVE BELOW INC COMMON STOCK USD 0.012,247,093 
FIVERR INTERNATIONAL LTD COMMON STOCK USD2,649,653 
FLEX LTD COMMON STOCK USD 01,717,144 
FMC CORP COMMON STOCK USD 0.1227,358 
FNB CORP/PA COMMON STOCK USD 0.01187,967 
FNFV GROUP TRACKING STK USD 0.0001— 
FOOT LOCKER INC COMMON STOCK USD 0.01359,916 
FORWARD AIR CORP COMMON STOCK USD 0.011,315,501 
FOX FACTORY HOLDING CORP COMMON STOCK USD 0.001548,635 
FRANKLIN RESOURCES INC COMMON STOCK USD 0.1436,868 
FRESH DEL MONTE PRODUCE INC COMMON STOCK USD 0.01301,092 
FRONTDOOR INC COMMON STOCK USD 0.012,264,371 
FTI CONSULTING INC COMMON STOCK USD 0.01426,212 
GARMIN LTD COMMON STOCK USD 0.1501,191 
GARTNER INC COMMON STOCK USD 0.00051,219,206 
33


GENERAC HOLDINGS INC COMMON STOCK USD 0.011,934,122 
GENERAL MILLS INC COMMON STOCK USD 0.1462,697 
GENERAL MOTORS CO COMMON STOCK USD 0.01500,305 
GENTEX CORP COMMON STOCK USD 0.06665,435 
GERMAN AMERICAN BANCORP INC COMMON STOCK USD 046,624 
GLOBE LIFE INC COMMON STOCK USD 1186,122 
GOLDMAN SACHS GROUP INC/THE COMMON STOCK USD 0.01446,197 
GRACO INC COMMON STOCK USD 12,952,169 
GRAFTECH INTERNATIONAL LTD COMMON STOCK USD 0.01207,614 
GRAND CANYON EDUCATION INC COMMON STOCK USD 0.01592,831 
GRAPHIC PACKAGING HOLDING CO COMMON STOCK USD 0.011,367,070 
GREAT WESTERN BANCORP INC COMMON STOCK USD 0.01117,563 
GROCERY OUTLET HOLDING CORP COMMON STOCK USD 0.0015,906,026 
GUARDANT HEALTH INC COMMON STOCK USD 0.00001550,833 
GUIDEWIRE SOFTWARE INC COMMON STOCK USD 0.00013,961,408 
HALLIBURTON CO COMMON STOCK USD 2.5428,350 
HANCOCK WHITNEY CORP COMMON STOCK USD 3.33154,689 
HANESBRANDS INC COMMON STOCK USD 0.012,504,057 
HANOVER INSURANCE GROUP INC/THE COMMON STOCK USD127,092 
HARLEY-DAVIDSON INC COMMON STOCK USD 0.01388,580 
HARSCO CORP COMMON STOCK USD 1.25226,710 
HB FULLER CO COMMON STOCK USD 1289,854 
HEALTHEQUITY INC COMMON STOCK USD 0.00017,026,210 
HEARTLAND EXPRESS INC COMMON STOCK USD 0.01492,845 
HELEN OF TROY LTD COMMON STOCK USD 0.1410,385 
HELMERICH & PAYNE INC COMMON STOCK USD 0.1413,707 
HENRY SCHEIN INC COMMON STOCK USD 0.011,986,277 
HERON THERAPEUTICS INC COMMON STOCK USD 0.01967,346 
HILLENBRAND INC COMMON STOCK USD 0187,219 
HOLOGIC INC COMMON STOCK USD 0.011,923,659 
HOME BANCSHARES INC/AR COMMON STOCK USD 0.01145,613 
HOME DEPOT INC/THE COMMON STOCK USD 0.053,819,616 
HOWMET AEROSPACE INC COMMON STOCK USD264,223 
HUMANA INC COMMON STOCK USD 0.1662,550,014 
HUNTINGTON BANCSHARES INC/OH COMMON STOCK USD 0.01623,092 
HUNTSMAN CORP COMMON STOCK USD 0.01146,038 
ICON PLC COMMON STOCK USD 0.06334,196 
INDEPENDENT BANK GROUP INC COMMON STOCK USD 0.01160,551 
INGEVITY CORP COMMON STOCK USD 0.01302,087 
INGREDION INC COMMON STOCK USD 0.01118,965 
INSIGHT ENTERPRISES INC COMMON STOCK USD 0.01613,209 
INTEGRA LIFESCIENCES HOLDINGS CORP COMMON STOCK506,701 
INTERDIGITAL INC COMMON STOCK USD 0.01323,060 
INTERNATIONAL GAME TECHNOLOGY PLC COMMON STOCK USD191,422 
INTERNATIONAL PAPER CO COMMON STOCK USD 12,045,332 
INTUITIVE SURGICAL INC COMMON STOCK USD 0.0012,832,262 
IRHYTHM TECHNOLOGIES INC COMMON STOCK USD 0.0013,114,093 
ITT INC COMMON STOCK USD 1644,888 
J M SMUCKER CO/THE COMMON STOCK USD 0470,723 
J2 GLOBAL INC COMMON STOCK USD 0.013,075,184 
JACOBS ENGINEERING GROUP INC COMMON STOCK USD 1287,001 
JAWS ACQUISITION CORP COMMON STOCK USD 0.00011,718,009 
JAZZ PHARMACEUTICALS PLC COMMON STOCK USD 0.0001756,754 
JOHN BEAN TECHNOLOGIES CORP COMMON STOCK USD 0.011,141,205 
JOHNSON & JOHNSON COMMON STOCK USD 1505,032 
JONES LANG LASALLE INC COMMON STOCK USD 0.01167,065 
KAR AUCTION SERVICES INC COMMON STOCK USD 0.01347,411 
KBR INC COMMON STOCK USD 0.001234,201 
KENNAMETAL INC COMMON STOCK USD 1.25542,150 
KERING SA ADR USD3,663,579 
KEYCORP COMMON STOCK USD 1593,254 
KEYSIGHT TECHNOLOGIES INC COMMON STOCK USD1,215,360 
34


KIMBERLY-CLARK CORP COMMON STOCK USD 1.25438,549 
KIRBY CORP COMMON STOCK USD 0.11,401,276 
KLA CORP COMMON STOCK USD 0.0011,218,948 
KODIAK SCIENCES INC COMMON STOCK USD 0.00011,031,161 
KORN FERRY COMMON STOCK USD 0.01142,225 
KRAFT HEINZ CO/THE COMMON STOCK USD 0.01475,812 
LABORATORY CORP OF AMERICA HOLDINGS COMMON STOCK487,706 
LAKELAND FINANCIAL CORP COMMON STOCK USD 049,883 
LAM RESEARCH CORP COMMON STOCK USD 0.0011,096,087 
LAMAR ADVERTISING CO REIT USD 0.001477,017 
LANDSTAR SYSTEM INC COMMON STOCK USD 0.01110,825 
LCI INDUSTRIES COMMON STOCK USD 0.01380,351 
LEAR CORP COMMON STOCK USD 0.01286,254 
LENNAR CORP COMMON STOCK USD 0.11,963,685 
LIBERTY BROADBAND CORP COMMON STOCK USD 0.013,639,026 
LINCOLN NATIONAL CORP COMMON STOCK USD 0379,287 
LITHIA MOTORS INC COMMON STOCK USD 01,265,212 
LIVANOVA PLC COMMON STOCK USD 1187,838 
LIVERAMP HOLDINGS INC COMMON STOCK USD 0.16,219,393 
LOGITECH INTERNATIONAL SA COMMON STOCK CHF 0.2510,475 
LOWE'S COS INC COMMON STOCK USD 0.5526,473 
LPL FINANCIAL HOLDINGS INC COMMON STOCK USD1,615,931 
LULULEMON ATHLETICA INC COMMON STOCK USD 0.0054,561,977 
LYFT INC COMMON STOCK USD 0.000015,739,367 
LYONDELLBASELL INDUSTRIES NV COMMON STOCK USD 0.04124,933 
MAGNA INTERNATIONAL INC COMMON STOCK CAD 01,313,340 
MARATHON OIL CORP COMMON STOCK USD 1159,086 
MARCUS CORP/THE COMMON STOCK USD 187,216 
MARKEL CORP COMMON STOCK USD 0359,588 
MARRIOTT VACATIONS WORLDWIDE CORP COMMON STOCK USD303,119 
MARVELL TECHNOLOGY GROUP LTD COMMON STOCK 0.002382,848 
MASCO CORP COMMON STOCK USD 1298,325 
MASIMO CORP COMMON STOCK USD 0.001437,459 
MASTEC INC COMMON STOCK USD 0.1183,813 
MASTERCARD INC COMMON STOCK USD 0.00015,144,219 
MATCH GROUP INC COMMON STOCK USD 0.0013,826,921 
MATSON INC COMMON STOCK USD 01,748,011 
MAXIMUS INC COMMON STOCK USD 079,923 
MCKESSON CORP COMMON STOCK USD 0.01446,920 
MEDIA GEN INC CVR— 
MEDNAX INC COMMON STOCK USD 0.011,046,116 
MERCK & CO INC COMMON STOCK USD 0.52,407,540 
MERIT MEDICAL SYSTEMS INC COMMON STOCK USD 02,211,740 
MESA AIR GROUP INC COMMON STOCK USD 0180,403 
METHODE ELECTRONICS INC COMMON STOCK USD 0.5292,689 
METLIFE INC COMMON STOCK USD 0.01404,991 
MGM GROWTH PROPERTIES LLC REIT USD483,361 
MICRON TECHNOLOGY INC COMMON STOCK USD 0.11,265,204 
MICROSOFT CORP COMMON STOCK USD 0.0000062511,777,584 
MIDDLEBY CORP/THE COMMON STOCK USD 0.011,326,200 
MINERALS TECHNOLOGIES INC COMMON STOCK USD 0.1117,593 
MODINE MANUFACTURING CO COMMON STOCK USD 0.625240,888 
MOLINA HEALTHCARE INC COMMON STOCK USD 0.001452,158 
MOLSON COORS BEVERAGE CO COMMON STOCK USD 0.01475,173 
MOOG INC-CLASS A244,878 
MORGAN STANLEY COMMON STOCK USD 0.012,930,480 
MOSAIC CO/THE COMMON STOCK USD 0.01322,186 
MR COOPER GROUP INC COMMON STOCK USD 0.01346,357 
MSA SAFETY INC COMMON STOCK USD 0401,411 
MURPHY USA INC COMMON STOCK USD 0.01444,958 
NATIONAL ENERGY SERVICES REUNITED CORP COMMON94,176 
NATIONAL GENERAL HOLDINGS CORP COMMON STOCK EUR344,217 
35


NATIONAL OILWELL VARCO INC COMMON STOCK USD 0.01164,664 
NAVIENT CORP COMMON STOCK USD 0.01421,170 
NCR CORP COMMON STOCK USD 0.01435,098 
NETFLIX INC COMMON STOCK USD 0.0018,888,520 
NEUROCRINE BIOSCIENCES INC COMMON STOCK USD 0.001683,027 
NEVRO CORP COMMON STOCK USD 0.0014,186,597 
NEW RELIC INC COMMON STOCK USD 0.001924,167 
NEW YORK COMMUNITY BANCORP INC COMMON STOCK USD415,090 
NEW YORK TIMES CO/THE COMMON STOCK USD 0.14,760,252 
NEXSTAR MEDIA GROUP INC COMMON STOCK USD 0.01526,733 
NIKE INC COMMON STOCK USD 06,038,647 
NMI HOLDINGS INC COMMON STOCK USD 0.01419,138 
NOMAD FOODS LTD COMMON STOCK USD 0244,362 
NORTHWESTERN CORP COMMON STOCK USD 0.01370,677 
NRG ENERGY INC COMMON STOCK USD 0.01294,843 
NUANCE COMMUNICATIONS INC COMMON STOCK USD 0.0011,333,458 
NUCOR CORP COMMON STOCK USD 0.4120,482 
NVIDIA CORP COMMON STOCK USD 0.0019,511,351 
NVR INC COMMON STOCK USD 0.01509,983 
NXP SEMICONDUCTORS NV COMMON STOCK USD1,007,961 
OCEANFIRST FINANCIAL CORP COMMON STOCK USD 0.01175,569 
OGE ENERGY CORP COMMON STOCK USD 0.01253,829 
OLD SECOND BANCORP INC COMMON STOCK USD 147,339 
OMNICELL INC COMMON STOCK USD 0.001994,846 
ON SEMICONDUCTOR CORP COMMON STOCK USD 0.013,354,400 
ONEMAIN HOLDINGS INC COMMON STOCK USD 0.01621,697 
ONTRAK INC COMMON STOCK USD 0.0001543,876 
ORACLE CORP COMMON STOCK USD 0.013,469,713 
OWENS CORNING COMMON STOCK USD 0.001329,026 
OXFORD INDUSTRIES INC COMMON STOCK USD 1155,848 
PACIFIC BIOSCIENCES OF CALIFORNIA INC COMMON STOCK5,999,818 
PACKAGING CORP OF AMERICA COMMON STOCK USD 0.01876,529 
PAPA JOHN'S INTERNATIONAL INC COMMON STOCK USD3,895,209 
PARKER-HANNIFIN CORP COMMON STOCK USD 0.5286,303 
PARSLEY ENERGY INC COMMON STOCK MXN 0.01155,788 
PAYPAL HOLDINGS INC COMMON STOCK USD 0.00016,079,598 
PDC ENERGY INC COMMON STOCK USD 0.0162,514 
PENNYMAC FINANCIAL SERVICES INC COMMON STOCK USD138,261 
PERFORMANCE FOOD GROUP CO COMMON STOCK USD 0.01322,129 
PERRIGO CO PLC COMMON STOCK USD 0.0011,050,920 
PFIZER INC COMMON STOCK USD 0.052,019,176 
PHILIP MORRIS INTERNATIONAL INC COMMON STOCK USD 0472,696 
PHOTRONICS INC COMMON STOCK USD 0.01268,052 
PINNACLE FINANCIAL PARTNERS INC COMMON STOCK USD 11,208,981 
PLURALSIGHT INC COMMON STOCK EUR 0.00011,699,080 
POLARIS INC COMMON STOCK USD 0.01631,421 
PORTLAND GENERAL ELECTRIC CO COMMON STOCK USD 0754,078 
PPD INC COMMON STOCK USD 0.01236,255 
PQ GROUP HOLDINGS INC COMMON STOCK USD219,590 
PRA GROUP INC COMMON STOCK USD 0.01208,175 
PRECISION BIOSCIENCES INC COMMON STOCK USD96,802 
PRESTIGE CONSUMER HEALTHCARE INC COMMON STOCK USD154,927 
PRINCIPAL FINANCIAL GROUP INC COMMON STOCK USD400,700 
PROASSURANCE CORP COMMON STOCK USD 0.01187,956 
PROG HOLDINGS INC1,123,728 
PROOFPOINT INC COMMON STOCK USD 0.00011,711,946 
PROSPERITY BANCSHARES INC COMMON STOCK USD 1348,933 
PROVIDENCE SVC CORP COMMON STOCK USD510,990 
PRUDENTIAL FINANCIAL INC COMMON STOCK USD 0.01401,514 
PUBLIC SERVICE ENTERPRISE GROUP INC COMMON STOCK262,933 
PULTEGROUP INC COMMON STOCK USD 0.01499,566 
QCR HOLDINGS INC COMMON STOCK USD 198,025 
36


QORVO INC COMMON STOCK USD 0.0001617,194 
QTS REALTY TRUST INC REIT USD772,131 
QUANEX BUILDING PRODUCTS CORP COMMON STOCK USD181,062 
QUIDEL CORP COMMON STOCK USD 0.0011,465,764 
QURATE RETAIL INC COMMON STOCK USD 0.01678,593 
R1 RCM INC COMMON STOCK USD 0.01279,905 
RACKSPACE TECHNOLOGY INC COMMON STOCK USD 0.01234,095 
REDFIN CORP COMMON STOCK USD2,953,080 
REGIONS FINANCIAL CORP COMMON STOCK USD 0.01628,556 
REINSURANCE GROUP OF AMERICA INC COMMON STOCK USD241,767 
RELIANCE STEEL & ALUMINUM CO COMMON STOCK USD122,385 
RENAISSANCERE HOLDINGS LTD COMMON STOCK USD 1191,356 
REPUBLIC SERVICES INC COMMON STOCK USD 0.01815,875 
REVANCE THERAPEUTICS INC COMMON STOCK USD 0.001792,131 
REXNORD CORP COMMON STOCK USD 0.01578,607 
RH COMMON STOCK USD 0.0001500,775 
RINGCENTRAL INC COMMON STOCK USD 0.00012,604,282 
RITCHIE BROS AUCTIONEERS INC COMMON STOCK CAD 02,942,313 
ROYAL DUTCH SHELL PLC ADR USD154,159 
S&P GLOBAL INC COMMON STOCK USD 12,490,458 
S&T BANCORP INC COMMON STOCK USD 2.550,624 
SABRA HEALTH CARE REIT INC REIT USD 0.01281,151 
SAILPOINT TECHNOLOGIES HOLDINGS INC COMMON STOCK3,629,637 
SALESFORCE.COM INC COMMON STOCK USD 0.0019,750,597 
SALLY BEAUTY HOLDINGS INC COMMON STOCK USD 0.012,470,611 
SANDY SPRING BANCORP INC COMMON STOCK USD 187,879 
SCHWEITZER-MAUDUIT INTERNATIONAL INC COMMON STOCK407,327 
SCIENCE APPLICATIONS INTERNATIONAL CORP COMMON1,046,718 
SCOTTS MIRACLE-GRO CO/THE COMMON STOCK USD 0.01517,764 
SEAGATE TECHNOLOGY PLC COMMON STOCK 0.000011,106,499 
SEALED AIR CORP COMMON STOCK USD 0.1278,678 
SENSATA TECHNOLOGIES HOLDING PLC COMMON STOCK USD4,096,738 
SERVICENOW INC COMMON STOCK USD 0.0011,382,680 
SERVISFIRST BANCSHARES INC COMMON STOCK USD 0.001192,612 
SHOPIFY INC COMMON STOCK CAD4,688,537 
SHUTTERSTOCK INC COMMON STOCK USD 0.011,330,537 
SIGNATURE BANK/NEW YORK NY COMMON STOCK USD 0.01582,694 
SKECHERS USA INC COMMON STOCK USD 0.0012,966,416 
SL GREEN REALTY CORP REIT USD 0.0187,336 
SLM CORP COMMON STOCK USD 0.21,120,118 
SNOWFLAKE INC COMMON STOCK USD 11,347,343 
SOLARWINDS CORP COMMON STOCK USD 0.0011,373,591 
SONOCO PRODUCTS CO COMMON STOCK USD 0127,151 
SOTERA HEALTH CO COMMON STOCK USD 0.01968,111 
SOUTH STATE CORP COMMON STOCK USD 2.5167,375 
SOUTHERN FIRST BANCSHARES INC COMMON STOCK USD132,527 
SOUTHERN NATIONAL BANCORP OF VIRGINIA INC COMMON37,735 
SP PLUS CORP COMMON STOCK USD 0.001147,638 
SPECTRUM BRANDS HOLDINGS INC249,893 
SPIRIT REALTY CAPITAL INC REIT USD 0.05160,161 
SPLUNK INC COMMON STOCK USD 0.0012,695,815 
SPOTIFY TECHNOLOGY SA COMMON STOCK USD 0.0006252,612,622 
SPRINGWORKS THERAPEUTICS INC COMMON STOCK USD449,044 
SPX CORP COMMON STOCK USD 0.01526,747 
SQUARE INC COMMON STOCK USD 0.0000013,380,167 
SS&C TECHNOLOGIES HOLDINGS INC COMMON STOCK USD784,318 
STAG INDUSTRIAL INC REIT USD 0.011,150,291 
STANDARD MOTOR PRODUCTS INC COMMON STOCK USD 290,307 
STARWOOD PROPERTY TRUST INC REIT USD 0.01265,606 
STATE STREET CORP COMMON STOCK USD 1386,291 
STEEL DYNAMICS INC COMMON STOCK USD 0.005303,270 
STERIS PLC COMMON STOCK USD 752,516,523 
37


STEVEN MADDEN LTD COMMON STOCK USD 0.0001384,847 
STITCH FIX INC COMMON STOCK USD 0.000023,769,354 
STOCK YARDS BANCORP INC COMMON STOCK USD 036,675 
STRIDE INC COMMON STOCK USD 0.0001130,586 
SUMO LOGIC INC COMMON STOCK USD 0.0001362,909 
SVB FINANCIAL GROUP COMMON STOCK USD 0.0011,382,614 
SYKES ENTERPRISES INC COMMON STOCK USD 0.01149,249 
SYNCHRONY FINANCIAL COMMON STOCK USD 0.001419,366 
SYNEOS HEALTH INC COMMON STOCK USD 0.012,213,476 
SYNNEX CORP COMMON STOCK USD 0.001412,412 
SYNOVUS FINANCIAL CORP COMMON STOCK USD 1263,871 
TANDEM DIABETES CARE INC COMMON STOCK USD5,340,571 
TARGET CORP COMMON STOCK USD 0.0833475,572 
TCF FINANCIAL CORP COMMON STOCK USD 1410,663 
TE CONNECTIVITY LTD COMMON STOCK USD 0.571,243,510 
TELADOC HEALTH INC COMMON STOCK USD 0.0013,066,587 
TEMPUR SEALY INTERNATIONAL INC COMMON STOCK USD694,656 
TENCENT HOLDINGS LTD ADR USD 0.000022,276,397 
TENNANT CO COMMON STOCK USD 0.3751,507,813 
TEREX CORP COMMON STOCK USD 0.01214,818 
TESLA INC COMMON STOCK USD 0.00116,755,428 
TEXAS CAPITAL BANCSHARES INC COMMON STOCK USD 0.01363,843 
TEXAS INSTRUMENTS INC COMMON STOCK USD 11,166,964 
TEXTRON INC COMMON STOCK USD 0.125209,018 
TJX COS INC/THE COMMON STOCK USD 12,487,258