UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
811-23264
Investment Company Act file number:
Altaba Inc.
(Exact name of registrant as specified in charter)
(Exact name of registrant as specified in charter)
140 East 45th Street, 15th Floor
New York, New York 10017
(Address of principal executive offices) (Zip code)
Arthur Chong
Altaba Inc.
140 East 45th Street, 15th Floor
New York, New York 10017
Altaba Inc.
140 East 45th Street, 15th Floor
New York, New York 10017
(Name and address of agent for service)
(646) 679-2000
Registrant's telephone number, including area code
Date of fiscal year end: December 31
Date of reporting period: September 30, 2017
Item 1. Schedule of Investments.
|
Altaba Inc.
|
|||||||||||||
|
Unaudited Consolidated Statement of Investments
|
|||||||||||||
|
As of September 30, 2017
|
|||||||||||||
|
($ in 000's, except strike prices)
|
|||||||||||||
|
Description
|
Expiration
|
Principal $ / Shares / Units
|
Fair Value $
|
||||||||||
|
Affiliated Investments at Fair Value — 137.8%
|
|||||||||||||
|
Online Services and e-Commerce
|
|||||||||||||
|
Common Shares - 137.6%
|
|||||||||||||
|
Alibaba Group Holding Limited (1)(2)(3)
|
383,565,416
|
66,245,583
|
|||||||||||
|
Yahoo Japan Corporation (2)(3)
|
2,025,923,000
|
9,615,527
|
|||||||||||
|
Other Common Shares in Affiliated Investments at Fair Value — 0.1%
|
|||||||||||||
|
Gomaji Corp., Ltd. (3)
|
3,589,942
|
4,499
|
|||||||||||
|
Hortonworks, Inc. - Common Shares (1)(3)
|
3,845,806
|
65,186
|
|||||||||||
|
Warrants - 0.1%
|
|||||||||||||
|
Hortonworks, Inc. - Common Warrants - Exercise Price: $8.46 (1)(4)
|
6/9/2023
|
476,368
|
5,564
|
||||||||||
|
Hortonworks, Inc. - Series A Stock Warrants - Exercise Price: $0.01 (1)(4)
|
6/30/2020
|
3,250,000
|
55,041
|
||||||||||
|
Total Affiliated Investments at Fair Value (Cost — $5,627,180)
|
75,991,400
|
||||||||||||
|
Unaffiliated Investments at Fair Value — 0.0%
|
|||||||||||||
|
Internet Software & Services
|
|||||||||||||
|
Common Shares - 0.0%
|
|||||||||||||
|
SeatGeek, Inc. (1)(4)
|
47,463
|
185
|
|||||||||||
|
Total Common Shares (Cost — $9)
|
185
|
||||||||||||
|
Preferred Shares — 0.0%
|
|||||||||||||
|
Paperless Inc. - Series D Preferred (1)(4)
|
1,084,430
|
10,028
|
|||||||||||
|
Total Preferred Shares (Cost — $14,000)
|
10,028
|
||||||||||||
|
Warrants — 0.0%
|
|||||||||||||
|
Internet Software & Services
|
|||||||||||||
|
Eastman Kodak Co. - Exercise Price: $14.93 (1)
|
9/3/2018
|
400
|
-
|
||||||||||
|
Total Warrants (Cost — $0)
|
-
|
||||||||||||
|
Rate % (5)
|
Final Maturity (6)
|
Principal $
|
Fair Value $
|
||||||||||
|
Money Market Funds — 0.4%
|
|||||||||||||
|
Fidelity Government and Agency Money Market Fund
|
0.91
|
197,304
|
197,304
|
||||||||||
|
Invesco Government and Agency Money Market Fund
|
0.93
|
254
|
254
|
||||||||||
|
JP Morgan Government and Agency Money Market Fund
|
0.90
|
45,072
|
45,072
|
||||||||||
|
Total Money Market Investments (Cost — $242,630)
|
242,630
|
242,630
|
|||||||||||
|
|
Rate Type
|
Rate % (7) |
Final Maturity
|
Principal $ | Fair Value $ | ||||||||
|
Fixed Income Securities
|
|||||||||||||
|
Short Term
|
|||||||||||||
|
Corporate Debt — 4.2%
|
|||||||||||||
|
Financial — 1.6%
|
|||||||||||||
|
AIG Global Funding
|
Fixed
|
1.65
|
12/15/2017
|
17,743
|
17,752
|
||||||||
|
American Express Credit Corp.
|
Fixed
|
1.80
|
7/31/2018
|
20,000
|
20,021
|
||||||||
|
American Express Credit Corp.
|
Floating
|
1.92 (3 month LIBOR USD + 0.61)
|
7/31/2018
|
5,000
|
5,019
|
||||||||
|
Anz New Zealand (Intl) Ltd
|
Fixed
|
1.75
|
3/29/2018
|
8,083
|
8,093
|
||||||||
|
Bank of America N.A.
|
Fixed
|
1.65
|
3/26/2018
|
8,790
|
8,796
|
||||||||
|
Bank of America N.A.
|
Fixed
|
1.75
|
6/5/2018
|
25,000
|
25,026
|
||||||||
|
Bank of New York Mellon Corp.
|
Fixed
|
1.30
|
1/25/2018
|
5,035
|
5,031
|
||||||||
|
Bank of New York Mellon Corp.
|
Fixed
|
1.35
|
3/6/2018
|
9,500
|
9,497
|
||||||||
|
Bank of New York Mellon Corp.
|
Floating
|
1.76 (3 month LIBOR USD + 0.44)
|
3/6/2018
|
700
|
701
|
||||||||
|
Bank of New York Mellon Corp.
|
Fixed
|
1.60
|
5/22/2018
|
8,600
|
8,607
|
||||||||
|
Bank of Nova Scotia
|
Fixed
|
1.45
|
4/25/2018
|
25,000
|
24,992
|
||||||||
|
BB&T Corp.
|
Fixed
|
1.45
|
1/12/2018
|
1,500
|
1,499
|
||||||||
|
BB&T Corp.
|
Fixed
|
2.05
|
6/19/2018
|
2,657
|
2,664
|
||||||||
|
Berkshire Hathaway Finance Corp.
|
Fixed
|
5.40
|
5/15/2018
|
3,000
|
3,071
|
||||||||
|
Berkshire Hathaway Finance Corp.
|
Fixed
|
1.30
|
5/15/2018
|
20,000
|
19,961
|
||||||||
|
Berkshire Hathaway Finance Corp.
|
Fixed
|
1.45
|
3/7/2018
|
25,000
|
25,008
|
||||||||
|
Berkshire Hathaway Finance Corp.
|
Floating
|
1.87 (3 month LIBOR USD + 0.55)
|
3/7/2018
|
6,130
|
6,145
|
||||||||
|
Berkshire Hathaway Inc.
|
Fixed
|
1.55
|
2/9/2018
|
7,000
|
7,000
|
||||||||
|
Berkshire Hathaway Inc.
|
Floating
|
1.46 (3 month LIBOR USD + 0.15)
|
8/6/2018
|
7,907
|
7,917
|
||||||||
|
Berkshire Hathaway Inc.
|
Fixed
|
1.15
|
8/15/2018
|
15,000
|
14,955
|
||||||||
|
Charles Schwab Corp
|
Fixed
|
1.50
|
3/10/2018
|
20,000
|
20,006
|
||||||||
|
Chubb INA Holdings Inc
|
Fixed
|
5.80
|
3/15/2018
|
14,231
|
14,497
|
||||||||
|
Fifth Third Bank
|
Fixed
|
1.45
|
2/28/2018
|
9,867
|
9,862
|
||||||||
|
Fifth Third Bank
|
Fixed
|
2.15
|
8/20/2018
|
13,000
|
13,060
|
||||||||
|
HSBC USA Inc
|
Fixed
|
1.63
|
1/16/2018
|
15,000
|
15,006
|
||||||||
|
JPMorgan Chase & Co.
|
Fixed
|
1.70
|
3/1/2018
|
15,000
|
15,004
|
||||||||
|
JPMorgan Chase & Co.
|
Fixed
|
1.80
|
1/25/2018
|
39,820
|
39,851
|
||||||||
|
JPMorgan Chase & Co.
|
Fixed
|
1.63
|
5/15/2018
|
11,000
|
11,001
|
||||||||
|
Keybank N.A.
|
Fixed
|
1.65
|
2/1/2018
|
19,436
|
19,442
|
||||||||
|
Keybank N.A.
|
Fixed
|
1.70
|
6/1/2018
|
12,235
|
12,247
|
||||||||
|
Manufacturers And Traders Trust Co.
|
Fixed
|
1.45
|
3/7/2018
|
4,515
|
4,514
|
||||||||
|
Mass Mutual Global Funding II
|
Fixed
|
2.10
|
8/2/2018
|
24,845
|
24,949
|
||||||||
|
Metropolitan life Global Funding I
|
Fixed
|
1.50
|
1/10/2018
|
32,900
|
32,901
|
||||||||
|
Metropolitan life Global Funding I
|
Fixed
|
1.88
|
6/22/2018
|
5,000
|
5,009
|
||||||||
|
Metropolitan life Global Funding I
|
Fixed
|
1.35
|
9/14/2018
|
950
|
948
|
||||||||
|
Metropolitan life Global Funding I
|
Floating
|
1.66 (3 month LIBOR USD + 0.34)
|
9/14/2018
|
10,000
|
10,027
|
||||||||
|
National Rural Utilities Coop Finance Corp.
|
Fixed
|
5.45
|
2/1/2018
|
2,033
|
2,059
|
||||||||
|
New York Life Global Funding
|
Fixed
|
1.30
|
10/30/2017
|
17,290
|
17,290
|
||||||||
|
New York Life Global Funding
|
Fixed
|
1.45
|
12/15/2017
|
33,657
|
33,652
|
||||||||
|
New York Life Global Funding
|
Fixed
|
1.30
|
4/27/2018
|
15,833
|
15,819
|
||||||||
|
New York Life Global Funding
|
Floating
|
1.70 (3 month LIBOR USD + 0.40)
|
4/13/2018
|
4,660
|
4,669
|
||||||||
|
New York Life Global Funding
|
Floating
|
1.48 (3 month LIBOR USD + 0.18)
|
7/6/2018
|
9,250
|
9,259
|
||||||||
|
Pricoa Global Funding I
|
Fixed
|
1.60
|
5/29/2018
|
24,985
|
24,999
|
||||||||
|
Pricoa Global Funding I
|
Fixed
|
1.90
|
9/21/2018
|
16,263
|
16,295
|
||||||||
|
Principal Life Global Funding II
|
Floating
|
1.82 (3 month LIBOR USD + 0.50)
|
12/1/2017
|
9,000
|
9,007
|
||||||||
|
Principal Life Global Funding II
|
Floating
|
1.62 (3 month LIBOR USD + 0.30)
|
5/21/2018
|
8,690
|
8,703
|
||||||||
|
Protective Life Global Funding
|
Floating
|
1.87 (3 month LIBOR USD + 0.55)
|
6/8/2018
|
15,000
|
15,048
|
||||||||
|
Royal Bank of Canada
|
Fixed
|
2.20
|
7/27/2018
|
10,000
|
10,046
|
||||||||
|
Royal Bank of Canada
|
Fixed
|
1.50
|
1/16/2018
|
20,000
|
19,999
|
||||||||
|
Royal Bank of Canada
|
Fixed
|
1.40
|
10/13/2017
|
27,000
|
27,001
|
||||||||
|
Simon Property Group LP
|
Fixed
|
1.50
|
2/1/2018
|
20,407
|
20,408
|
||||||||
|
Swedbank AB
|
Fixed
|
1.75
|
3/12/2018
|
9,525
|
9,529
|
||||||||
|
The Toronto-Dominion Bank
|
Fixed
|
2.63
|
9/10/2018
|
25,000
|
25,244
|
||||||||
|
U.S. Bank N.A.
|
Fixed
|
1.35
|
1/26/2018
|
25,000
|
24,998
|
||||||||
|
U.S. Bank N.A.
|
Floating
|
1.61 (3 month LIBOR USD + 0.30)
|
1/26/2018
|
2,750
|
2,752
|
||||||||
|
U.S. Bank N.A.
|
Fixed
|
1.45
|
1/29/2018
|
13,925
|
13,926
|
||||||||
|
Wells Fargo & Co.
|
Fixed
|
5.63
|
12/11/2017
|
40,000
|
40,309
|
||||||||
|
Wells Fargo & Co.
|
Fixed
|
1.50
|
1/16/2018
|
30,000
|
30,002
|
||||||||
|
Wells Fargo Bank N.A.
|
Fixed
|
1.65
|
1/22/2018
|
14,350
|
14,361
|
||||||||
|
Wells Fargo Bank N.A.
|
Floating
|
2.10 (3 month LIBOR USD + 0.74)
|
1/22/2018
|
8,331
|
8,348
|
||||||||
|
Westpac Banking Corporation
|
Fixed
|
1.50
|
12/1/2017
|
6,000
|
6,003
|
||||||||
|
Total
|
878,393
|
879,805
|
|||||||||||
|
Industrial — 2.6%
|
|||||||||||||
|
3M Co.
|
Fixed
|
1.38
|
8/7/2018
|
15,000
|
14,988
|
||||||||
|
Air Products and Chemicals Inc
|
Fixed
|
1.20
|
10/15/2017
|
2,655
|
2,655
|
||||||||
|
American Honda Finance Corp.
|
Fixed
|
1.55
|
12/11/2017
|
41,000
|
41,014
|
||||||||
|
American Honda Finance Corp.
|
Floating
|
1.63 (3 month LIBOR USD + 0.31)
|
12/11/2017
|
6,000
|
6,003
|
||||||||
|
American Honda Finance Corp.
|
Fixed
|
1.50
|
3/13/2018
|
22,000
|
22,010
|
||||||||
|
American Honda Finance Corp.
|
Fixed
|
1.60
|
2/16/2018
|
25,000
|
25,003
|
||||||||
|
Apple Inc.
|
Floating
|
1.56 (3 month LIBOR USD + 0.25)
|
5/3/2018
|
6,655
|
6,664
|
||||||||
|
Apple Inc.
|
Fixed
|
1.00
|
5/3/2018
|
50,000
|
49,883
|
||||||||
|
Apple Inc.
|
Fixed
|
1.30
|
2/23/2018
|
15,000
|
14,996
|
||||||||
|
Boeing Co
|
Fixed
|
0.95
|
5/15/2018
|
7,077
|
7,058
|
||||||||
|
BP Capital Markets Plc
|
Fixed
|
1.67
|
2/13/2018
|
6,969
|
6,974
|
||||||||
|
Caterpillar Financial Services Corp.
|
Fixed
|
1.25
|
11/6/2017
|
16,000
|
15,997
|
||||||||
|
Caterpillar Financial Services Corp.
|
Fixed
|
1.50
|
2/23/2018
|
20,000
|
20,006
|
||||||||
|
Chevron Corp
|
Fixed
|
1.10
|
12/5/2017
|
20,000
|
19,990
|
||||||||
|
Chevron Corp
|
Fixed
|
1.72
|
6/24/2018
|
22,000
|
22,018
|
||||||||
|
Chevron Corp
|
Fixed
|
1.37
|
3/2/2018
|
13,357
|
13,355
|
||||||||
|
Chevron Corp
|
Fixed
|
1.34
|
11/9/2017
|
15,212
|
15,212
|
||||||||
|
Chevron Corp
|
Floating
|
1.81 (3 month LIBOR USD + 0.50)
|
5/16/2018
|
2,945
|
2,954
|
||||||||
|
Cisco Systems Inc.
|
Fixed
|
1.65
|
6/15/2018
|
44,000
|
44,072
|
||||||||
|
Cisco Systems Inc.
|
Floating
|
1.92 (3 month LIBOR USD + 0.60)
|
2/21/2018
|
25,000
|
25,059
|
||||||||
|
Cisco Systems Inc.
|
Fixed
|
1.40
|
2/28/2018
|
30,000
|
30,003
|
||||||||
|
Coca-Cola Co
|
Fixed
|
1.15
|
4/1/2018
|
31,400
|
31,357
|
||||||||
|
Comcast Corp
|
Fixed
|
5.88
|
2/15/2018
|
13,877
|
14,099
|
||||||||
|
Comcast Corp
|
Fixed
|
5.70
|
5/15/2018
|
2,500
|
2,563
|
||||||||
|
Daimler Finance North America LLC
|
Fixed
|
1.65
|
3/2/2018
|
5,000
|
5,001
|
||||||||
|
Daimler Finance North America LLC
|
Fixed
|
2.00
|
8/3/2018
|
8,215
|
8,237
|
||||||||
|
Exxon Mobil Corp
|
Fixed
|
1.44
|
3/1/2018
|
13,535
|
13,540
|
||||||||
|
General Dynamics Corp.
|
Fixed
|
1.00
|
11/15/2017
|
20,376
|
20,367
|
||||||||
|
General Electric Capital Corp.
|
Fixed
|
5.63
|
5/1/2018
|
49,394
|
50,558
|
||||||||
|
General Electric Co.
|
Fixed
|
1.60
|
11/20/2017
|
14,000
|
14,007
|
||||||||
|
General Electric Company
|
Fixed
|
5.25
|
12/6/2017
|
57,198
|
57,597
|
||||||||
|
Home Depot Inc.
|
Fixed
|
2.25
|
9/10/2018
|
3,400
|
3,423
|
||||||||
|
Intel Corp.
|
Fixed
|
1.35
|
12/15/2017
|
67,158
|
67,165
|
||||||||
|
International Business Machines Corp.
|
Fixed
|
1.25
|
2/8/2018
|
18,000
|
17,980
|
||||||||
|
International Business Machines Corp.
|
Fixed
|
1.13
|
2/6/2018
|
25,000
|
24,979
|
||||||||
|
John Deere Capital Corp.
|
Fixed
|
5.35
|
4/3/2018
|
1,187
|
1,209
|
||||||||
|
John Deere Capital Corp.
|
Fixed
|
1.20
|
10/10/2017
|
26,475
|
26,474
|
||||||||
|
John Deere Capital Corp.
|
Fixed
|
1.55
|
12/15/2017
|
20,000
|
20,007
|
||||||||
|
John Deere Capital Corp.
|
Fixed
|
1.35
|
1/16/2018
|
20,000
|
19,997
|
||||||||
|
John Deere Capital Corp.
|
Fixed
|
1.60
|
7/13/2018
|
6,000
|
6,004
|
||||||||
|
John Deere Capital Corp.
|
Fixed
|
1.75
|
8/10/2018
|
431
|
432
|
||||||||
|
Lowe's Companies Inc.
|
Floating
|
1.92 (3 month LIBOR USD + 0.60)
|
9/14/2018
|
1,940
|
1,950
|
||||||||
|
Medtronic Inc
|
Fixed
|
1.38
|
4/1/2018
|
25,000
|
24,982
|
||||||||
|
Microsoft Corp.
|
Fixed
|
0.88
|
11/15/2017
|
5,629
|
5,626
|
||||||||
|
NBC Universal Enterprise Inc.
|
Fixed
|
1.66
|
4/15/2018
|
15,824
|
15,837
|
||||||||
|
Nissan Motor Acceptance Corp
|
Fixed
|
1.80
|
3/15/2018
|
1,000
|
1,002
|
||||||||
|
Nissan Motor Acceptance Corp
|
Fixed
|
1.50
|
3/2/2018
|
935
|
935
|
||||||||
|
Oracle Corp.
|
Fixed
|
5.75
|
4/15/2018
|
18,580
|
18,992
|
||||||||
|
Oracle Corp.
|
Fixed
|
1.20
|
10/15/2017
|
58,555
|
58,548
|
||||||||
|
Paccar Financial Corp.
|
Fixed
|
1.40
|
11/17/2017
|
10,500
|
10,499
|
||||||||
|
Paccar Financial Corp.
|
Fixed
|
1.40
|
5/18/2018
|
1,067
|
1,066
|
||||||||
|
Paccar Inc.
|
Fixed
|
1.75
|
8/14/2018
|
7,600
|
7,617
|
||||||||
|
Pepsico Inc.
|
Fixed
|
5.00
|
6/1/2018
|
34,400
|
35,184
|
||||||||
|
Pepsico Inc.
|
Fixed
|
1.25
|
4/30/2018
|
25,000
|
24,980
|
||||||||
|
Pepsico Inc.
|
Fixed
|
1.00
|
10/13/2017
|
31,227
|
31,225
|
||||||||
|
Pfizer Inc.
|
Fixed
|
1.50
|
6/15/2018
|
20,000
|
20,007
|
||||||||
|
Pfizer Inc.
|
Fixed
|
1.20
|
6/1/2018
|
20,000
|
19,976
|
||||||||
|
Philip Morris International Inc.
|
Fixed
|
5.65
|
5/16/2018
|
35,000
|
35,887
|
||||||||
|
Philip Morris International Inc.
|
Fixed
|
1.25
|
11/9/2017
|
20,000
|
19,997
|
||||||||
|
Praxair Inc.
|
Fixed
|
1.05
|
11/7/2017
|
1,620
|
1,619
|
||||||||
|
Precision Castparts Corp.
|
Fixed
|
1.25
|
1/15/2018
|
15,244
|
15,234
|
||||||||
|
Qualcomm Inc.
|
Fixed
|
1.40
|
5/18/2018
|
36,532
|
36,528
|
||||||||
|
Shell International Finance BV
|
Fixed
|
1.90
|
8/10/2018
|
8,000
|
8,021
|
||||||||
|
Shell International Finance BV
|
Fixed
|
1.25
|
11/10/2017
|
5,000
|
4,999
|
||||||||
|
Target Corporation
|
Fixed
|
4.88
|
5/15/2018
|
5,000
|
5,095
|
||||||||
|
Texas Instruments Inc.
|
Fixed
|
1.00
|
5/1/2018
|
10,000
|
9,978
|
||||||||
|
Toyota Motor Credit Corp.
|
Fixed
|
1.25
|
10/5/2017
|
19,000
|
19,000
|
||||||||
|
Toyota Motor Credit Corp.
|
Fixed
|
1.38
|
1/10/2018
|
17,500
|
17,497
|
||||||||
|
Toyota Motor Credit Corp.
|
Fixed
|
1.45
|
1/12/2018
|
25,000
|
25,006
|
||||||||
|
Toyota Motor Credit Corp.
|
Floating
|
1.76 (3 month LIBOR USD + 0.46)
|
7/13/2018
|
13,731
|
13,773
|
||||||||
|
Toyota Motor Credit Corp.
|
Fixed
|
1.20
|
4/6/2018
|
15,000
|
14,981
|
||||||||
|
Visa Inc.
|
Fixed
|
1.20
|
12/14/2017
|
48,832
|
48,849
|
||||||||
|
Wal-Mart Stores Inc.
|
Fixed
|
5.80
|
2/15/2018
|
22,000
|
22,345
|
||||||||
|
Wal-Mart Stores Inc.
|
Fixed
|
1.13
|
4/11/2018
|
10,000
|
9,986
|
||||||||
|
Walt Disney Co.
|
Fixed
|
1.10
|
12/1/2017
|
16,572
|
16,567
|
||||||||
|
Total
|
1,410,304
|
1,414,698
|
|||||||||||
|
Utility — 0.0%
|
|||||||||||||
|
Alabama Power Company
|
Fixed
|
5.50
|
10/15/2017
|
9,640
|
9,652
|
||||||||
|
Duke Energy Florida LLC
|
Fixed
|
5.65
|
6/15/2018
|
1,250
|
1,284
|
||||||||
|
Nevada Power Co.
|
Fixed
|
6.50
|
5/15/2018
|
2,341
|
2,407
|
||||||||
|
Public Service Electric and Gas Co.
|
Fixed
|
5.30
|
5/1/2018
|
10,900
|
11,131
|
||||||||
|
Wisconsin Electric Power Co.
|
Fixed
|
1.70
|
6/15/2018
|
721
|
722
|
||||||||
|
Total
|
24,852
|
25,196
|
|||||||||||
|
Total Corporate Debt (Cost — $2,333,926)
|
2,313,549
|
2,319,699
|
|||||||||||
|
Commercial Paper — 4.8%
|
Rate % (8)
|
||||||||||||
|
ABN Amro Funding USA LLC
|
Zero Coupon
|
1.33
|
11/6/2017
|
30,000
|
29,960
|
||||||||
|
ABN Amro Funding USA LLC
|
Zero Coupon
|
1.37
|
12/4/2017
|
30,000
|
29,927
|
||||||||
|
ABN Amro Funding USA LLC
|
Zero Coupon
|
1.44
|
1/5/2018
|
20,000
|
19,924
|
||||||||
|
Apple Inc.
|
Zero Coupon
|
1.11
|
10/16/2017
|
40,000
|
39,981
|
||||||||
|
Apple Inc.
|
Zero Coupon
|
1.17
|
11/27/2017
|
30,000
|
29,944
|
||||||||
|
Apple Inc.
|
Zero Coupon
|
1.35
|
2/26/2018
|
15,000
|
14,917
|
||||||||
|
BMW US Capital, LLC
|
Zero Coupon
|
1.12
|
10/10/2017
|
14,000
|
13,996
|
||||||||
|
BMW US Capital, LLC
|
Zero Coupon
|
1.12
|
10/12/2017
|
24,000
|
23,992
|
||||||||
|
BMW US Capital, LLC
|
Zero Coupon
|
1.12
|
10/13/2017
|
30,000
|
29,989
|
||||||||
|
BMW US Capital, LLC
|
Zero Coupon
|
1.10
|
10/25/2017
|
30,000
|
29,978
|
||||||||
|
BNP Paribas
|
Zero Coupon
|
1.16
|
10/2/2017
|
25,000
|
24,999
|
||||||||
|
BNP Paribas
|
Zero Coupon
|
1.16
|
10/5/2017
|
42,000
|
41,995
|
||||||||
|
BNP Paribas
|
Zero Coupon
|
1.14
|
10/27/2017
|
25,000
|
24,979
|
||||||||
|
BNP Paribas
|
Zero Coupon
|
1.29
|
10/30/2017
|
30,000
|
29,969
|
||||||||
|
BNP Paribas
|
Zero Coupon
|
1.33
|
11/10/2017
|
30,000
|
29,956
|
||||||||
|
Caisse Amortissement de la Dette Sociale
|
Zero Coupon
|
1.33
|
10/3/2017
|
30,000
|
29,998
|
||||||||
|
Canadian Imperial Bank of Commerce
|
Zero Coupon
|
1.16
|
10/30/2017
|
25,000
|
24,977
|
||||||||
|
Cargill, Inc.
|
Zero Coupon
|
1.12
|
10/10/2017
|
54,000
|
53,985
|
||||||||
|
Cargill, Inc.
|
Zero Coupon
|
1.13
|
10/11/2017
|
50,000
|
49,984
|
||||||||
|
Chevron Corporation
|
Zero Coupon
|
1.11
|
10/10/2017
|
62,000
|
61,983
|
||||||||
|
Chevron Corporation
|
Zero Coupon
|
1.17
|
10/13/2017
|
40,000
|
39,984
|
||||||||
|
Chevron Corporation
|
Zero Coupon
|
1.10
|
10/16/2017
|
20,000
|
19,991
|
||||||||
|
Cooperatieve Rabobank U.A
|
Zero Coupon
|
1.28
|
10/6/2017
|
36,000
|
35,994
|
||||||||
|
Cooperatieve Rabobank U.A
|
Zero Coupon
|
1.26
|
11/15/2017
|
30,000
|
29,953
|
||||||||
|
Credit Suisse (USA), Inc.
|
Zero Coupon
|
1.41
|
10/23/2017
|
30,000
|
29,974
|
||||||||
|
Credit Suisse (USA), Inc.
|
Zero Coupon
|
1.42
|
11/21/2017
|
30,000
|
29,940
|
||||||||
|
Credit Suisse (USA), Inc.
|
Zero Coupon
|
1.48
|
12/8/2017
|
20,000
|
19,944
|
||||||||
|
Cummins Inc.
|
Zero Coupon
|
1.11
|
10/10/2017
|
35,000
|
34,990
|
||||||||
|
Danske Corporation
|
Zero Coupon
|
1.20
|
10/6/2017
|
13,000
|
12,998
|
||||||||
|
Danske Corporation
|
Zero Coupon
|
1.28
|
10/30/2017
|
30,000
|
29,969
|
||||||||
|
Danske Corporation
|
Zero Coupon
|
1.35
|
11/6/2017
|
30,000
|
29,960
|
||||||||
|
Exxon Mobil Corp
|
Zero Coupon
|
1.10
|
10/13/2017
|
50,000
|
49,982
|
||||||||
|
GE Capital Treasury Services (U.S.) LLC
|
Zero Coupon
|
1.10
|
10/5/2017
|
20,000
|
19,998
|
||||||||
|
ING (U.S.) Funding LLC
|
Zero Coupon
|
1.27
|
10/13/2017
|
30,000
|
29,987
|
||||||||
|
ING (U.S.) Funding LLC
|
Zero Coupon
|
1.38
|
12/8/2017
|
20,000
|
19,948
|
||||||||
|
J.P Morgan Securities LLC
|
Zero Coupon
|
1.51
|
3/9/2018
|
20,000
|
19,868
|
||||||||
|
J.P Morgan Securities LLC
|
Zero Coupon
|
1.50
|
3/29/2018
|
12,000
|
11,911
|
||||||||
|
Koch Resources, LLC
|
Zero Coupon
|
1.17
|
10/10/2017
|
11,000
|
10,997
|
||||||||
|
Koch Resources, LLC
|
Zero Coupon
|
1.16
|
10/17/2017
|
50,000
|
49,974
|
||||||||
|
Koch Resources, LLC
|
Zero Coupon
|
1.17
|
10/27/2017
|
25,000
|
24,979
|
||||||||
|
L'Oreal USA, Inc.
|
Zero Coupon
|
1.13
|
10/3/2017
|
40,000
|
39,997
|
||||||||
|
L'Oreal USA, Inc.
|
Zero Coupon
|
1.12
|
10/12/2017
|
27,000
|
26,991
|
||||||||
|
Microsoft Cop.
|
Zero Coupon
|
1.12
|
10/2/2017
|
15,000
|
15,000
|
||||||||
|
Microsoft Cop.
|
Zero Coupon
|
1.20
|
11/2/2017
|
16,000
|
15,983
|
||||||||
|
Microsoft Cop.
|
Zero Coupon
|
1.22
|
11/14/2017
|
20,000
|
19,970
|
||||||||
|
Mizuho Bank, Ltd.
|
Zero Coupon
|
1.34
|
11/27/2017
|
25,000
|
24,947
|
||||||||
|
Mizuho Bank, Ltd.
|
Zero Coupon
|
1.28
|
12/11/2017
|
25,000
|
24,937
|
||||||||
|
Mizuho Bank, Ltd.
|
Zero Coupon
|
1.36
|
3/9/2018
|
30,000
|
29,820
|
||||||||
|
Nestle Capital Corporation
|
Zero Coupon
|
1.01
|
11/6/2017
|
21,000
|
20,979
|
||||||||
|
Nestle Capital Corporation
|
Zero Coupon
|
1.07
|
11/15/2017
|
23,000
|
22,969
|
||||||||
|
Nestle Capital Corporation
|
Zero Coupon
|
1.06
|
11/29/2017
|
20,000
|
19,965
|
||||||||
|
Nestle Capital Corporation
|
Zero Coupon
|
1.09
|
12/13/2017
|
30,000
|
29,934
|
||||||||
|
Nestle Capital Corporation
|
Zero Coupon
|
1.13
|
1/8/2018
|
14,000
|
13,956
|
||||||||
|
Nissan Motor Acceptance Corp
|
Zero Coupon
|
1.29
|
10/2/2017
|
20,000
|
19,999
|
||||||||
|
Nissan Motor Acceptance Corp
|
Zero Coupon
|
1.19
|
10/6/2017
|
30,000
|
29,995
|
||||||||
|
Nissan Motor Acceptance Corp
|
Zero Coupon
|
1.21
|
10/12/2017
|
15,000
|
14,994
|
||||||||
|
Nissan Motor Acceptance Corp
|
Zero Coupon
|
1.30
|
11/2/2017
|
30,000
|
29,965
|
||||||||
|
Nissan Motor Acceptance Corp
|
Zero Coupon
|
1.31
|
11/14/2017
|
20,000
|
19,968
|
||||||||
|
Pfizer Inc.
|
Zero Coupon
|
1.18
|
11/15/2017
|
40,000
|
39,941
|
||||||||
|
Pfizer Inc.
|
Zero Coupon
|
1.30
|
1/10/2018
|
20,000
|
19,928
|
||||||||
|
Philip Morris International Inc.
|
Zero Coupon
|
1.24
|
10/30/2017
|
30,000
|
29,970
|
||||||||
|
Philip Morris International Inc.
|
Zero Coupon
|
1.24
|
11/17/2017
|
30,000
|
29,951
|
||||||||
|
Simon Property Group LP
|
Zero Coupon
|
1.14
|
10/10/2017
|
30,000
|
29,991
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Zero Coupon
|
1.26
|
10/10/2017
|
30,000
|
29,991
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Zero Coupon
|
1.20
|
10/11/2017
|
35,000
|
34,988
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Zero Coupon
|
1.26
|
10/13/2017
|
25,000
|
24,990
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Zero Coupon
|
1.20
|
10/16/2017
|
30,000
|
29,985
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Zero Coupon
|
1.20
|
10/30/2017
|
25,000
|
24,976
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Zero Coupon
|
1.37
|
11/24/2017
|
35,000
|
34,929
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Zero Coupon
|
1.37
|
11/27/2017
|
25,000
|
24,946
|
||||||||
|
The Bank of Nova Scotia
|
Zero Coupon
|
1.37
|
1/26/2018
|
30,000
|
29,867
|
||||||||
|
The Coca-Cola Company
|
Zero Coupon
|
1.10
|
10/16/2017
|
15,000
|
14,993
|
||||||||
|
The Coca-Cola Company
|
Zero Coupon
|
1.16
|
11/6/2017
|
35,000
|
34,959
|
||||||||
|
The Coca-Cola Company
|
Zero Coupon
|
1.23
|
12/13/2017
|
6,000
|
5,985
|
||||||||
|
The Coca-Cola Company
|
Zero Coupon
|
1.26
|
1/4/2018
|
39,765
|
39,634
|
||||||||
|
The Coca-Cola Company
|
Zero Coupon
|
1.35
|
3/5/2018
|
25,000
|
24,856
|
||||||||
|
The Coca-Cola Company
|
Zero Coupon
|
1.36
|
3/6/2018
|
30,000
|
29,825
|
||||||||
|
The Coca-Cola Company
|
Zero Coupon
|
1.38
|
4/9/2018
|
25,000
|
24,819
|
||||||||
|
The Hershey Company
|
Zero Coupon
|
1.13
|
10/2/2017
|
15,000
|
15,000
|
||||||||
|
The Hershey Company
|
Zero Coupon
|
1.13
|
10/6/2017
|
23,000
|
22,996
|
||||||||
|
The Hershey Company
|
Zero Coupon
|
1.10
|
10/25/2017
|
25,000
|
24,982
|
||||||||
|
The Toronto-Dominion Bank
|
Zero Coupon
|
1.37
|
2/14/2018
|
25,000
|
24,871
|
||||||||
|
Toronto Dominion Holdings (U.S.A.), Inc.
|
Zero Coupon
|
1.27
|
10/13/2017
|
25,000
|
24,989
|
||||||||
|
Toronto Dominion Holdings (U.S.A.), Inc.
|
Zero Coupon
|
1.33
|
11/13/2017
|
30,000
|
29,953
|
||||||||
|
Toronto Dominion Holdings (U.S.A.), Inc.
|
Zero Coupon
|
1.37
|
12/13/2017
|
30,000
|
29,917
|
||||||||
|
Toronto Dominion Holdings (U.S.A.), Inc.
|
Zero Coupon
|
1.38
|
1/12/2018
|
30,000
|
29,882
|
||||||||
|
Toronto Dominion Holdings (U.S.A.), Inc.
|
Zero Coupon
|
1.43
|
4/5/2018
|
30,000
|
29,780
|
||||||||
|
Toyota Motor Credit Corp.
|
Zero Coupon
|
1.32
|
2/8/2018
|
25,000
|
24,882
|
||||||||
|
Toyota Motor Credit Corp.
|
Zero Coupon
|
1.36
|
3/9/2018
|
30,000
|
29,821
|
||||||||
|
Toyota Motor Credit Corp.
|
Zero Coupon
|
1.47
|
3/29/2018
|
15,000
|
14,891
|
||||||||
|
Wal-Mart Stores Inc.
|
Zero Coupon
|
1.10
|
10/2/2017
|
9,000
|
9,000
|
||||||||
|
Wal-Mart Stores Inc.
|
Zero Coupon
|
1.10
|
10/10/2017
|
35,000
|
34,990
|
||||||||
|
Wal-Mart Stores Inc.
|
Zero Coupon
|
1.10
|
10/23/2017
|
50,000
|
49,966
|
||||||||
|
Wal-Mart Stores Inc.
|
Zero Coupon
|
1.09
|
10/30/2017
|
53,000
|
52,953
|
||||||||
|
Wal-Mart Stores Inc.
|
Zero Coupon
|
1.09
|
10/31/2017
|
10,000
|
9,991
|
||||||||
|
Total Commercial Paper (Cost — $2,618,060)
|
2,629,765
|
2,625,531
|
|||||||||||
|
Certificates of Deposits — 2.8%
|
Rate % (7)
|
||||||||||||
|
ASB Finance Limited
|
Floating
|
1.43 (1 month LIBOR USD + 0.19)
|
6/12/2018
|
50,000
|
50,000
|
||||||||
|
Bank of Montreal
|
Floating
|
1.72 (3 month LIBOR USD + 0.40)
|
6/18/2018
|
11,000
|
10,995
|
||||||||
|
Canadian Imperial Bank of Commerce
|
Floating
|
1.75 (3 month LIBOR USD + 0.45)
|
10/6/2017
|
47,100
|
47,103
|
||||||||
|
Canadian Imperial Bank of Commerce
|
Floating
|
1.69 (3 month LIBOR USD + 0.39)
|
7/13/2018
|
3,000
|
2,999
|
||||||||
|
Canadian Imperial Bank of Commerce
|
Floating
|
1.35 (1 month LIBOR USD + 0.11)
|
1/10/2018
|
75,000
|
75,000
|
||||||||
|
Citibank, N.A.
|
Fixed
|
1.24
|
10/5/2017
|
21,000
|
21,000
|
||||||||
|
Cooperatieve Rabobank U.A.
|
Floating
|
1.47 (3 month LIBOR USD + 0.30)
|
11/7/2017
|
24,404
|
24,409
|
||||||||
|
Cooperatieve Rabobank U.A.
|
Floating
|
1.40 (1 month LIBOR USD + 0.17)
|
5/8/2018
|
16,000
|
16,000
|
||||||||
|
Cooperatieve Rabobank U.A.
|
Floating
|
1.88 (3 month LIBOR USD + 0.58)
|
10/2/2017
|
12,500
|
12,500
|
||||||||
|
Credit Agricole Corporate and Investment Bank
|
Floating
|
1.86 (3 month LIBOR USD + 0.56)
|
7/13/2018
|
6,910
|
6,910
|
||||||||
|
Credit Industriel
|
Floating
|
1.38 (1 month LIBOR USD + 0.14)
|
1/12/2018
|
75,000
|
75,000
|
||||||||
|
Credit Suisse (USA), Inc.
|
Floating
|
1.50 (1 month LIBOR USD + 0.26)
|
10/16/2017
|
14,000
|
14,000
|
||||||||
|
DZ Bank AG Deutsche Zentral-Genossenschaftsbank
|
Fixed
|
1.30
|
10/20/2017
|
50,000
|
50,000
|
||||||||
|
ING (U.S.) Funding LLC
|
Floating
|
1.37 (1 month LIBOR USD + 0.14)
|
12/15/2017
|
50,000
|
50,000
|
||||||||
|
J.P Morgan Securities LLC
|
Floating
|
1.40 (1 month LIBOR USD + 0.16)
|
1/11/2018
|
78,500
|
78,500
|
||||||||
|
Lloyds Bank PLC
|
Floating
|
1.77 (3 month LIBOR USD + 0.45)
|
12/12/2017
|
15,000
|
15,000
|
||||||||
|
Lloyds Bank PLC
|
Floating
|
1.78 (3 month LIBOR USD + 0.45)
|
12/20/2017
|
25,000
|
25,000
|
||||||||
|
Lloyds Bank PLC
|
Floating
|
1.37 (1 month LIBOR USD + 0.13)
|
1/16/2018
|
75,700
|
75,700
|
||||||||
|
Mizuho Bank, Ltd.
|
Variable
|
1.81
|
10/19/2017
|
4,000
|
4,000
|
||||||||
|
Mizuho Bank, Ltd.
|
Floating
|
1.98 (3 month LIBOR USD + 0.70)
|
12/8/2017
|
14,000
|
14,000
|
||||||||
|
Mizuho Bank, Ltd.
|
Variable
|
1.38
|
12/21/2017
|
50,000
|
50,000
|
||||||||
|
Mizuho Bank, Ltd.
|
Variable
|
1.41
|
1/10/2018
|
76,000
|
76,000
|
||||||||
|
National Bank of Canada
|
Floating
|
1.51 (3 month LIBOR USD + 0.18)
|
3/21/2018
|
29,000
|
29,000
|
||||||||
|
National Bank of Canada
|
Floating
|
1.37 (1 month LIBOR USD + 0.13)
|
2/13/2018
|
75,000
|
75,000
|
||||||||
|
Natixis
|
Floating
|
1.80 (3 month LIBOR USD + 0.49)
|
11/1/2017
|
39,100
|
39,100
|
||||||||
|
Natixis
|
Floating
|
1.61 (3 month LIBOR USD + 0.30)
|
5/8/2018
|
2,500
|
2,500
|
||||||||
|
Oversea-Chinese Banking Corporation Limited
|
Floating
|
1.37 (1 month LIBOR USD + 0.14)
|
1/19/2018
|
48,000
|
48,000
|
||||||||
|
Royal Bank of Canada
|
Floating
|
2.02 (3 month LIBOR USD + 0.70)
|
3/22/2018
|
13,000
|
13,000
|
||||||||
|
Royal Bank of Canada
|
Fixed
|
1.31
|
10/19/2017
|
22,500
|
22,500
|
||||||||
|
Royal Bank of Canada
|
Fixed
|
1.50
|
1/4/2018
|
3,000
|
3,000
|
||||||||
|
Societe Generale
|
Fixed
|
1.47
|
10/19/2017
|
6,950
|
6,950
|
||||||||
|
Societe Generale
|
Fixed
|
1.45
|
10/20/2017
|
14,800
|
14,800
|
||||||||
|
Societe Generale
|
Fixed
|
1.58
|
1/12/2018
|
15,000
|
15,000
|
||||||||
|
Standard Chartered Bank
|
Fixed
|
1.38
|
10/25/2017
|
4,000
|
4,000
|
||||||||
|
Standard Chartered Bank
|
Floating
|
1.41 (1 month LIBOR USD + 0.18)
|
1/2/2018
|
48,000
|
48,000
|
||||||||
|
Sumitomo Mitsui Banking Corporation
|
Fixed
|
1.50
|
10/12/2017
|
30,000
|
30,000
|
||||||||
|
Sumitomo Mitsui Banking Corporation
|
Variable
|
1.44 (1 month LIBOR USD + 0.20)
|
1/26/2018
|
30,000
|
30,000
|
||||||||
|
Sumitomo Mitsui Banking Corporation
|
Floating
|
1.42 (1 month LIBOR USD + 0.20)
|
2/12/2018
|
76,000
|
76,000
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Floating
|
1.82 (3 month LIBOR USD + 0.50)
|
10/27/2017
|
30,000
|
30,000
|
||||||||
|
Sumitomo Mitsui Trust Bank Ltd
|
Floating
|
1.44 (1 month LIBOR USD + 0.20)
|
1/19/2018
|
48,000
|
48,000
|
||||||||
|
Svenska Handelsbanken AB
|
Floating
|
1.80 (3 month LIBOR USD + 0.48)
|
12/7/2017
|
25,000
|
25,000
|
||||||||
|
Svenska Handelsbanken AB
|
Floating
|
1.32 (1 month LIBOR USD + 0.10)
|
1/10/2018
|
75,000
|
75,000
|
||||||||
|
The Bank of Nova Scotia
|
Fixed
|
1.29
|
4/18/2018
|
28,500
|
28,500
|
||||||||
|
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
|
Fixed
|
1.55
|
10/13/2017
|
4,000
|
4,000
|
||||||||
|
The Norinchukin Bank
|
Fixed
|
1.55
|
10/13/2017
|
2,700
|
2,700
|
||||||||
|
The Norinchukin Bank
|
Fixed
|
1.63
|
1/31/2018
|
15,000
|
15,000
|
||||||||
|
The Norinchukin Bank
|
Floating
|
1.49 (1 month LIBOR USD + 0.25)
|
10/13/2017
|
2,000
|
2,000
|
||||||||
|
The Toronto-Dominion Bank
|
Floating
|
1.61 (3 month LIBOR USD + 0.30)
|
11/22/2017
|
15,000
|
15,000
|
||||||||
|
The Toronto-Dominion Bank
|
Floating
|
1.58 (3 month LIBOR USD + 0.27)
|
2/2/2018
|
15,000
|
15,000
|
||||||||
|
UBS AG
|
Fixed
|
1.53
|
5/4/2018
|
33,000
|
33,000
|
||||||||
|
Wells Fargo Bank, National Assocation
|
Floating
|
1.26 (3 month LIBOR USD + 0.35)
|
11/16/2017
|
5,000
|
5,000
|
||||||||
|
Westpac Banking Corporation
|
Floating
|
1.62 (3 month LIBOR USD + 0.30)
|
12/22/2017
|
11,000
|
11,000
|
||||||||
|
Total Certificates of Deposits (Cost — $1,560,212)
|
1,560,164
|
1,560,166
|
|||||||||||
|
Agency Bonds — 0.3%
|
|||||||||||||
|
Federal Farm Credit Banks Funding Corp.
|
Fixed
|
0.94
|
6/20/2018
|
10,000
|
9,971
|
||||||||
|
Federal Home Loan Banks
|
Fixed
|
1.15
|
6/22/2018
|
20,000
|
19,974
|
||||||||
|
Federal Home Loan Banks
|
Fixed
|
0.63
|
8/7/2018
|
20,300
|
20,182
|
||||||||
|
Federal Home Loan Banks
|
Fixed
|
1.38
|
3/9/2018
|
35,000
|
35,031
|
||||||||
|
Federal Home Loan Mortgage Corp.
|
Fixed
|
1.05
|
2/26/2018
|
15,000
|
14,985
|
||||||||
|
Federal Home Loan Mortgage Corp.
|
Floating
|
1.27 (3 month LIBOR USD - 0.03)
|
1/12/2018
|
8,500
|
8,505
|
||||||||
|
Federal Home Loan Mortgage Corp.
|
Fixed
|
1.05
|
7/27/2018
|
20,000
|
19,948
|
||||||||
|
Federal National Mortgage Assocation
|
Fixed
|
0.85
|
7/13/2018
|
20,000
|
19,917
|
||||||||
|
Total Agency Bonds (Cost — $149,016)
|
148,800
|
148,513
|
|||||||||||
|
US Government Debt — 0.3%
|
|||||||||||||
|
United States Treasury
|
Fixed
|
1.88
|
10/31/2017
|
30,000
|
30,019
|
||||||||
|
United States Treasury
|
Fixed
|
0.75
|
4/30/2018
|
15,000
|
14,957
|
||||||||
|
United States Treasury
|
Fixed
|
2.38
|
5/31/2018
|
33,000
|
33,236
|
||||||||
|
United States Treasury
|
Fixed
|
0.88
|
5/31/2018
|
26,800
|
26,732
|
||||||||
|
United States Treasury
|
Fixed
|
0.63
|
11/30/2017
|
30,000
|
29,977
|
||||||||
|
Total US Government Debt (Cost — $135,464)
|
134,800
|
134,921
|
|||||||||||
|
Sovereign Government Debt — 0.0%
|
|||||||||||||
|
Asian Development Bank
|
Floating
|
1.30 (1 month LIBOR USD + 0.02)
|
6/18/2018
|
12,236
|
12,230
|
||||||||
|
International Bank For Reconstruction and Develop
|
Fixed
|
0.80
|
10/13/2017
|
12,500
|
12,500
|
||||||||
|
Total Sovereign Government Debt (Cost — $24,738)
|
24,736
|
24,730
|
|||||||||||
|
Total Short Term Fixed Income Securities (Cost — $6,821,416) — 12.4%
|
6,811,814
|
6,813,560
|
|||||||||||
|
Long Term
|
|||||||||||||
|
Corporate Debt — 1.1%
|
|||||||||||||
|
Financial — 0.5%
|
|||||||||||||
|
American Express Credit Corp.
|
Fixed
|
2.13
|
3/18/2019
|
15,000
|
15,080
|
||||||||
|
American Express Credit Corp.
|
Floating
|
1.64 (3 month LIBOR USD + 0.33)
|
5/3/2019
|
1,501
|
1,505
|
||||||||
|
Bank of New York Mellon Corp.
|
Fixed
|
2.10
|
1/15/2019
|
10,000
|
10,039
|
||||||||
|
Berkshire Hathaway Finance Corp.
|
Floating
|
2.01 (3 month LIBOR USD + 0.69)
|
3/15/2019
|
5,102
|
5,155
|
||||||||
|
Berkshire Hathaway Finance Corp.
|
Floating
|
1.62 (3 month LIBOR USD + 0.32)
|
1/10/2020
|
2,500
|
2,511
|
||||||||
|
Branch Banking and Trust Co.
|
Floating
|
1.84 (3 month LIBOR USD + 0.53)
|
5/10/2019
|
12,500
|
12,565
|
||||||||
|
Branch Banking and Trust Co.
|
Floating
|
1.75 (3 month LIBOR USD + 0.45)
|
1/15/2020
|
4,000
|
4,014
|
||||||||
|
Citibank, N.A.
|
Fixed
|
2.00
|
3/20/2019
|
5,000
|
5,016
|
||||||||
|
Citibank, N.A.
|
Floating
|
1.67 (3 month LIBOR USD + 0.34)
|
3/20/2019
|
5,000
|
5,009
|
||||||||
|
Citibank, N.A.
|
Floating
|
1.54 (3 month LIBOR USD + 0.23)
|
11/9/2018
|
30,000
|
30,033
|
||||||||
|
Jackson National Life Global Funding
|
Fixed
|
1.88
|
10/15/2018
|
15,989
|
16,024
|
||||||||
|
Metropolitan life Global Funding I
|
Fixed
|
1.95
|
12/3/2018
|
8,695
|
8,712
|
||||||||
|
National Rural Utilities Coop Finance Corp.
|
Fixed
|
10.38
|
11/1/2018
|
13,982
|
15,250
|
||||||||
|
National Rural Utilities Coop Finance Corp.
|
Fixed
|
1.65
|
2/8/2019
|
275
|
275
|
||||||||
|
National Rural Utilities Coop Finance Corp.
|
Floating
|
1.50 (3 month LIBOR USD + 0.20)
|
4/5/2019
|
14,952
|
14,968
|
||||||||
|
New York Life Funding
|
Fixed
|
2.10
|
1/2/2019
|
15,000
|
15,079
|
||||||||
|
New York Life Global Funding
|
Fixed
|
1.55
|
11/2/2018
|
37,655
|
37,617
|
||||||||
|
New York Life Global Funding
|
Floating
|
1.57 (3 month LIBOR USD + 0.27)
|
4/9/2020
|
1,555
|
1,559
|
||||||||
|
Principal Life Global Funding II
|
Fixed
|
2.25
|
10/15/2018
|
14,148
|
14,221
|
||||||||
|
Principal Life Global Funding II
|
Fixed
|
1.50
|
4/18/2019
|
3,870
|
3,846
|
||||||||
|
Protective Life Global Funding
|
Floating
|
1.72 ( 3 month LIBOR USD + 0.42)
|
3/29/2019
|
10,000
|
10,006
|
||||||||
|
U.S. Bancorp
|
Fixed
|
1.95
|
11/15/2018
|
10,000
|
10,035
|
||||||||
|
USAA Capital Corp.
|
Floating
|
1.54 (3 month LIBOR USD + 0.23)
|
2/1/2019
|
2,520
|
2,523
|
||||||||
|
Wells Fargo Bank N.A.
|
Fixed
|
1.80
|
11/28/2018
|
20,000
|
20,022
|
||||||||
|
Total
|
259,244
|
261,064
|
|||||||||||
|
Industrial — 0.6%
|
|||||||||||||
|
American Honda Finance Corp.
|
Fixed
|
2.13
|
10/10/2018
|
20,000
|
20,116
|
||||||||
|
American Honda Finance Corp.
|
Fixed
|
1.50
|
11/19/2018
|
10,000
|
9,983
|
||||||||
|
American Honda Finance Corp.
|
Floating
|
1.60 (3 month LIBOR USD + 0.28)
|
11/19/2018
|
11,172
|
11,199
|
||||||||
|
Apple Inc.
|
Fixed
|
1.70
|
2/22/2019
|
12,000
|
12,028
|
||||||||
|
Apple Inc.
|
Floating
|
2.13 (3 month LIBOR USD + 0.82)
|
2/22/2019
|
7,000
|
7,076
|
||||||||
|
Apple Inc.
|
Floating
|
1.51 (3 month LIBOR USD + 0.20)
|
2/7/2020
|
13,506
|
13,531
|
||||||||
|
Apple Inc.
|
Floating
|
1.38 (3 month LIBOR USD + 0.07)
|
5/11/2020
|
7,000
|
7,004
|
||||||||
|
Chevron Corp
|
Floating
|
1.53 (3 month LIBOR USD + 0.21)
|
3/3/2020
|
12,000
|
12,034
|
||||||||
|
Cisco Systems Inc.
|
Floating
|
1.67 (3 month LIBOR USD + 0.34)
|
9/20/2019
|
11,000
|
11,065
|
||||||||
|
Honeywell International, Inc.
|
Floating
|
1.59 (3 month LIBOR USD + 0.28)
|
10/30/2019
|
3,563
|
3,578
|
||||||||
|
Intel Corp.
|
Floating
|
1.39 (3 month LIBOR USD + 0.08)
|
5/11/2020
|
11,000
|
11,008
|
||||||||
|
John Deere Capital Corp.
|
Floating
|
1.87 ( 3 month LIBOR USD + 0.57)
|
1/8/2019
|
12,500
|
12,580
|
||||||||
|
John Deere Capital Corp.
|
Fixed
|
1.65
|
10/15/2018
|
7,394
|
7,398
|
||||||||
|
John Deere Capital Corp.
|
Floating
|
1.62 (3 month LIBOR USD + 0.30)
|
3/13/2020
|
8,140
|
8,160
|
||||||||
|
Johnson & Johnson
|
Floating
|
1.59 (3 month LIBOR USD + 0.27)
|
3/1/2019
|
2,339
|
2,348
|
||||||||
|
Microsoft Corp.
|
Fixed
|
1.30
|
11/3/2018
|
22,082
|
22,045
|
||||||||
|
Oracle Corp.
|
Fixed
|
2.38
|
1/15/2019
|
5,000
|
5,050
|
||||||||
|
Pfizer Inc.
|
Fixed
|
2.10
|
5/15/2019
|
8,000
|
8,070
|
||||||||
|
Philip Morris International Inc.
|
Fixed
|
1.63
|
2/21/2019
|
30,000
|
29,977
|
||||||||
|
Qualcomm Inc.
|
Fixed
|
1.85
|
5/20/2019
|
15,000
|
15,037
|
||||||||
|
Siemens Financieringsmaatschappij N.V.
|
Floating
|
1.66 (3 month LIBOR USD + 0.34)
|
3/16/2020
|
15,000
|
15,034
|
||||||||
|
Toyota Motor Credit Corp.
|
Fixed
|
2.00
|
10/24/2018
|
20,000
|
20,095
|
||||||||
|
Toyota Motor Credit Corp.
|
Floating
|
1.69 (3 month LIBOR USD + 0.39)
|
1/17/2019
|
6,000
|
6,024
|
||||||||
|
Toyota Motor Credit Corp.
|
Floating
|
2.14 (3 month LIBOR USD + 0.82)
|
2/19/2019
|
5,359
|
5,416
|
||||||||
|
Toyota Motor Credit Corp.
|
Floating
|
1.56 (3 month LIBOR USD + 0.26)
|
1/9/2019
|
2,000
|
2,004
|
||||||||
|
Toyota Motor Credit Corp.
|
Floating
|
1.56 (3 month LIBOR USD + 0.26)
|
4/17/2020
|
12,000
|
12,036
|
||||||||
|
Walt Disney Co.
|
Floating
|
1.62 (3 month LIBOR USD + 0.32)
|
1/8/2019
|
20,000
|
20,082
|
||||||||
|
Total
|
309,055
|
309,978
|
|||||||||||
|
Total Corporate Debt (Cost — $571,424)
|
568,299
|
571,042
|
|||||||||||
|
Agency Bonds — 0.0%
|
|||||||||||||
|
Federal Home Loan Mortgage Corp.
|
Fixed
|
1.35
|
1/25/2019
|
20,000
|
19,958
|
||||||||
|
Total Agency Bonds (Cost — $20,000)
|
20,000
|
19,958
|
|||||||||||
|
US Government Debt — 0.1%
|
|||||||||||||
|
United States Treasury
|
Fixed
|
0.75
|
10/31/2018
|
47,600
|
47,278
|
||||||||
|
Total US Government Debt (Cost — $47,336)
|
47,600
|
47,278
|
|||||||||||
|
Total Long Term Fixed Income Securities (Cost — $638,760) — 1.2%
|
635,899
|
638,278
|
|||||||||||
|
Call Options (4)(9)
|
Counterparty
|
# of Contracts
|
Strike Price $
|
Expiration
|
Notional Amount $
|
Fair Value $
|
||||||||
|
Call Options — 0.8%
|
||||||||||||||
|
Altaba Inc.
|
JP Morgan
|
1
|
53.43
|
12/1/2018
|
475,299
|
117,748
|
||||||||
|
Altaba Inc.
|
Goldman Sachs
|
1
|
53.43
|
12/1/2018
|
475,299
|
117,748
|
||||||||
|
Altaba Inc.
|
Bank of America
|
1
|
53.43
|
12/1/2018
|
475,120
|
117,704
|
||||||||
|
Altaba Inc.
|
Citibank
|
1
|
53.43
|
12/1/2018
|
178,215
|
44,150
|
||||||||
|
Altaba Inc.
|
Morgan Stanley
|
1
|
53.43
|
12/1/2018
|
178,215
|
44,150
|
||||||||
|
Total Call Options (Premiums Paid — $205,706)
|
1,782,148
|
441,500
|
||||||||||||
|
Total Unaffiliated Investments (Cost — $7,922,525)
|
7,690,343
|
8,146,181
|
||||||||||||
|
|
||||||||||||||
|
Investment in Controlled Affiliate
|
Units
|
Fair Value $
|
||||||||||||
|
Internet Software & Services
|
||||||||||||||
|
Excalibur IP, LLC (1)(4)
|
3,589
|
675,000
|
||||||||||||
|
Total Investment in Controlled Affiliate (Cost — $0) — 1.2%
|
675,000
|
|||||||||||||
|
|
|
|
||||||||||||
|
Total Investments — 153.8%
|
84,812,581
|
|||||||||||||
|
|
||||||||||||||
|
Liabilities for Convertible Notes — (2.4)%
|
(1,352,129
|
)
|
||||||||||||
|
Other Liabilities/Other Assets — (51.4)%
|
|
(28,321,838
|
)
|
|||||||||||
|
Net Assets Applicable to Common Shares
|
|
$
|
55,138,614
|
|||||||||||
|
(1) Non-income producing securities.
|
|||||
|
(2) The joint venture agreement related to Yahoo Japan contains certain provisions covering the sale of stock. Further, the Alibaba shares are currently in the form of ordinary shares and will require conversion to American Depository Shares. For a further description of these investments, see the Fund's Registration Statement on Form N-2.
|
|||||
|
(3) Restricted security. Resale is contigent on issuer consent, aggregate holdings equal 137.7% of the net assets of the Fund.
|
|||||
|
(4) Fair-value security. Represents fair value measured in good faith under procedures approved by the Board of Directors, aggregate holdings equal 2.2% of the net assets of the Fund.
|
|||||
|
(5) Presented rate represents the Money Market Fund's average 7-day % yield.
|
|||||
|
(6) Money Market Funds do not have a set maturity date.
|
|||||
|
(7) Coupon rate %.
|
|||||
|
(8) Rate presented is Yield as of September 30, 2017.
|
|||||
|
(9) American-style options.
|
|||||
|
Written Warrants (1)(2)(3)
|
|
Weighted Average Strike Price $
|
Expiration(1)
|
# of Contracts
|
Fair Value $
|
|
Total Value of Written Warrants (Premiums Received — $124,775)
|
67.51
|
3/1/19 - 5/24/19
|
5
|
(271,496)
|
|
|
(1) European style warrants.
|
|||||
|
(2) The warrants carry a weighted average strike price of $67.51 after giving effect to certain proposed adjustments by certain of the warrant counterparties; while we have utilized these proposed adjustments in estimating fair market value as of September 30, 2017, certain of the counterparties may pursue additional adjustments which would have the effect of changing the weighted average strike price and we reserve the right to challenge any past or future adjustments to the extent that we disagree with them.
|
|||||
|
(3) Fair-value security. Represents fair value measured in good faith under procedures approved by the Board of Directors, aggregate holdings equal (0.5)% of the net assets of the Fund.
|
|||||
|
At September 30, 2017, the tax basis cost of the Fund's investments and derivatives was $9,046,085 and the unrealized appreciation and depreciation were $75,495,873 and ($873), respectively, with a net unrealized appreciation of $75,495,000.
|
|||||
Fair Value Measurements
Hierarchy of Fair Value Inputs
Altaba Inc. (“Altaba” or the “Fund”) categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2—Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.
Level 3—Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing management’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Fund intends to recognize transfers between Level 1, Level 2, and Level 3 as of the beginning of the reporting period.
The following table reflects the valuation level used in the Consolidated Schedule of Investments as of September 30, 2017 for the Fund’s assets (in thousands):
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
|
Affiliated investments(1)
|
$
|
75,930,795
|
$
|
-
|
$
|
60,605
|
$
|
75,991,400
|
||||||||
|
Unaffiliated investments:
|
||||||||||||||||
|
Common shares
|
-
|
-
|
185
|
185
|
||||||||||||
|
Preferred shares
|
-
|
-
|
10,028
|
10,028
|
||||||||||||
|
Money market funds
|
242,630
|
-
|
-
|
242,630
|
||||||||||||
|
Fixed income securities:
|
||||||||||||||||
|
Corporate debt
|
-
|
2,890,741
|
-
|
2,890,741
|
||||||||||||
|
Commercial paper
|
-
|
2,625,531
|
-
|
2,625,531
|
||||||||||||
|
Certificates of deposits
|
-
|
1,560,166
|
-
|
1,560,166
|
||||||||||||
|
Agency bonds
|
-
|
168,471
|
-
|
168,471
|
||||||||||||
|
US government debt
|
-
|
182,199
|
-
|
182,199
|
||||||||||||
|
Sovereign government debt
|
-
|
24,730
|
-
|
24,730
|
||||||||||||
|
Call options
|
-
|
-
|
441,500
|
441,500
|
||||||||||||
|
Investment in controlled affiliate:
|
||||||||||||||||
|
Excalibur (2)
|
-
|
-
|
675,000
|
675,000
|
||||||||||||
|
Financial assets at fair value
|
76,173,425
|
7,451,838
|
1,187,318
|
84,812,581
|
||||||||||||
|
Derivative instruments:
|
||||||||||||||||
|
Written warrants
|
-
|
-
|
(271,496
|
)
|
(271,496
|
)
|
||||||||||
|
Total financial assets and liabilities at fair value
|
$
|
76,173,425
|
$
|
7,451,838
|
$
|
915,822
|
$
|
84,541,085
|
||||||||
|
(1) Level 3 affiliated investments includes common and preferred stock warrants.
|
|||
|
(2) Excalibur assets relates to the Fund's patent portfolio. The patents are value based on market inputs and periodic valuation reports conducted by an advisory firm which specializes in such activies.
|
|||
The following is a reconciliation of investments for which significant unobservable inputs (Level 3) were used in determining fair value:
|
Total Investments
in Securities
|
Affiliated
Investments
|
Unaffiliated Investments
|
Call Options
|
Investment in Controlled
Affiliate
|
Written Warrants
|
|||||||||||||||||||
|
Balance as of June 16, 2017
|
$
|
787,440
|
$
|
44,546
|
$
|
15,291
|
$
|
179,337
|
$
|
665,000
|
$
|
(116,734
|
)
|
|||||||||||
|
Purchases
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Sales
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Change in unrealized appreciation (depreciation)
|
128,382
|
16,059
|
(5,078
|
)
|
262,163
|
10,000
|
(154,762
|
)
|
||||||||||||||||
|
Realized gain/(loss)
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Transfers out of Level 3
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Balance as of September 30, 2017
|
$
|
915,822
|
$
|
60,605
|
$
|
10,213
|
$
|
441,500
|
$
|
675,000
|
$
|
(271,496
|
)
|
|||||||||||
|
The change in unrealized appreciation (depreciation) attributable to securities owned on September 30, 2017, which were valued using significant unobservable inputs (Level 3) amounted to $128,382.
|
||||||||||||||||||||||||
The fair values of the Fund’s Level 1 financial assets and liabilities are based on quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. The fair values of the Fund’s Level 2 financial assets and liabilities are obtained using quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in markets that are not active; and inputs other than quoted prices (e.g., interest rates and yield curves). Altaba utilizes a pricing service to assist in obtaining fair value pricing for the marketable debt securities. The fair value for the Fund’s Level 3 financial assets were obtained using a variety of techniques including a Black-Scholes model, market approaches, and income approaches.
The balance for the Fund’s assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of September 30, 2017 was $915.8 million.
|
Type of investment
|
Fair Value at
September 30, 2017
(in thousands)
|
Valuation
Technique
|
Unobservable Inputs
|
Range
|
|
Unaffiliated investments -
common and preferred shares
|
$ 10,213
|
Market approach
|
Sales multiple
|
3.67x
|
|
|
|
|||
|
|
|
|||
|
Investment in controlled affiliate -
Excalibur
|
$ 675,000
|
Market approach
|
Number of patents plus applications pending
|
3,589
|
|
|
|
|||
|
|
|
Comparable market transactions (per patent in thousands)
|
$224 - $426
|
|
|
|
|
|||
|
|
|
Income approach
|
Discount rate
|
13.00%
|
|
|
|
|||
|
Call options
|
$ 441,500
|
Black Scholes Model
|
Market volatility
|
29.69%
|
|
|
|
|||
|
|
|
|||
|
Affiliated investments -
Hortonworks common
and series A stock warrants
|
$ 60,605
|
Black Scholes Model
|
Expected dividend yield
|
0.00%
|
|
|
|
|||
|
|
|
Risk-free interest rate
|
1.83% / 2.07%
|
|
|
|
|
|||
|
|
|
Market Volatility
|
169.02% / 70.04%
|
|
|
|
|
|||
|
|
|
Expected life (in years)
|
2.75 / 5.70
|
|
|
|
|
|||
|
Written warrants
|
$ (271,496)
|
Black Scholes Model
|
Market volatility
|
29.8% - 31.0%
|
|
|
|
Hortonworks
The Fund holds warrants that vested upon the initial public offering of Hortonworks, which entitles the Fund to purchase an aggregate of 3.75 million shares of Hortonworks common stock upon exercise of the warrants. Altaba holds 6.50 million preferred warrants that are exercisable for 3.25 million shares of common stock at an exercise price of $0.01 per share, as well as 0.5 million common warrants that are exercisable for 0.5 million shares of common stock at an exercise price of $8.46 per share. These warrants had a fair value of $61 million as of September 30, 2017.
Convertible Senior Notes
In 2013, Altaba issued $1.4375 billion aggregate principal amount of 0.00% Convertible Senior Notes due in 2018. The Convertible Notes are carried at their original issuance value, net of unamortized debt discount, and are not marked to market each period. The approximate estimated fair value of the Convertible Notes as of September 30, 2017 was $1.4 billion. The estimated fair value of the Convertible Notes was determined on the basis of interpolated market prices.
Quantitative Disclosure of Derivative Holdings
The following tables show additional disclosures related to the Fund’s derivative and hedging activities, including how such activities are accounted for on the Fund’s financial positions. The Fund entered into several transactions to hedge the impact of dilution from potential exercise of the convertible notes. In conjunction with the hedge transactions, the Fund sold written warrants to reduce the overall cost of the hedge. These derivatives are not accounted for as hedging instruments.
Fair value of derivative instruments as of September 30, 2017:
|
|
|
||||
|
Asset Derivatives
|
Statement of Assets and Liabilities Location
|
Call Spread
|
|||
|
|
|
||||
|
Call options
|
Unaffiliated investments
|
$
|
441,500
|
||
|
Asset Liability
|
Statement of Assets and Liabilities Location
|
Call Spread
|
|||
|
Written warrants
|
Written warrants
|
$
|
(271,496
|
)
|
|
Investments in Affiliates(1)
|
Alibaba Group
Holding Limited
|
Yahoo Japan Corporation
|
Gomaji Corp., Ltd.
|
Hortonworks, Inc.-
Common Shares
|
Hortonworks, Inc.-
Common Warrants
|
Hortonworks, Inc.-
Series A Stock
Warrants
|
|||||||||||||||||||
|
Balance of shares held at June 16, 2017
|
383,565,416
|
2,025,923,000
|
3,589,942
|
3,845,806
|
476,368
|
3,250,000
|
||||||||||||||||||
|
Purchases
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Sales
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Balance of shares held at September 30, 2017
|
383,565,416
|
2,025,923,000
|
3,589,942
|
3,845,806
|
476,368
|
3,250,000
|
||||||||||||||||||
|
Fair value as of September 30, 2017(2)
|
$
|
66,245,583
|
$
|
9,615,527
|
$
|
4,499
|
$
|
65,186
|
$
|
5,564
|
$
|
55,041
|
||||||||||||
|
Change in unrealized appreciation (depreciation)(2)
|
$
|
14,433,567
|
$
|
940,566
|
$
|
(119
|
)
|
$
|
16,460
|
$
|
2,196
|
$
|
13,863
|
|||||||||||
|
Distributions(2)
|
$
|
-
|
$
|
-
|
$
|
328
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||||||
|
Net realized gain (loss)(2)
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||||||
|
(1) Affiliated issuer, as defined in the Investment Company Act of 1940, as amended.
|
||||||||||||||||||||||||
|
(2) In thousands.
|
||||||||||||||||||||||||
|
Excalibur IP, LLC
|
||||
|
Balance of patents held and applications pending at June 16, 2017
|
3,599
|
|||
|
Change in patents held
|
(10
|
)
|
||
|
Balance of patents held and applications pending at September 30, 2017
|
3,589
|
|||
|
Fair value as of September 30, 2017(2)
|
$
|
675,000
|
||
|
Change in unrealized appreciation (depreciation)(2)
|
$
|
10,000
|
||
|
Distributions(2)
|
$
|
-
|
||
|
Net realized gain (loss)(2)
|
$
|
-
|
||
|
(1) Affiliated issuer, as defined in the Investment Company Act of 1940, as amended.
|
||||
|
(2) In thousands.
|
||||
Item 2. Controls and Procedures.
| (a) |
The Registrant’s Chief Executive Officer and Chief Financial and Accounting Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) (17 CFR 270.30a-3(c)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d‑15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)).
|
| (b) |
There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
|
Item 3. Exhibits.
Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)). Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Altaba Inc.
By (Signature and Title) /s/ Thomas J. McInerney
Thomas J. McInerney, Chief Executive Officer
Date November 20, 2017
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) /s/ Thomas J. McInerney
Thomas J. McInerney, Chief Executive Officer
Date November 20, 2017
By (Signature and Title) /s/ Alexi A. Wellman
Alexi A. Wellman, Chief Financial and Accounting Officer
Date November 20, 2017
CERTIFICATIONS
I, Thomas J. McInerney, certify that:
| 1. |
I have reviewed this report on Form N-Q of Altaba Inc.;
|
| 2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
| 3. |
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
|
| 4. |
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
|
| (a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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| (b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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| (c) |
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation;
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| (d) |
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
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| 5. |
The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
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| (a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
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| (b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
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Date: November 20, 2017
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/s/ Thomas J. McInerney
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Thomas J. McInerney
Chief Executive Officer |
CERTIFICATIONS
I, Alexi A. Wellman, certify that:
| 1. |
I have reviewed this report on Form N-Q of Altaba Inc.;
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| 2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
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| 3. |
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
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| 4. |
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
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| (a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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| (b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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| (c) |
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation;
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| (d) |
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
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| 5. |
The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
|
| (a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
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| (b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
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Date: November 20, 2017
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/s/ Alexi A. Wellman
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Alexi A. Wellman
Chief Financial and Accounting Officer
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