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Section 1: 11-K (11-K)

Table of Contents

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 11-K

 

(Mark One)

 

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

 

For the fiscal year ended December 31, 2017

 

or

 

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

 

For the transition period from                              to

 

Commission File Number: 1-13991

 

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

 

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN

 

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

 

MFA FINANCIAL, INC.

350 Park Avenue, 20th Floor

New York, New York 10022

 

 

 



Table of Contents

 

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

Financial Statements and Supplemental Schedule

(Unaudited)

 

TABLE OF CONTENTS

 

 

 

Page

 

 

 

Financial Statements

 

 

 

 

 

Statements of Net Assets Available for Benefits as of December 31, 2017 and December 31, 2016

 

1

 

 

 

Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2017

 

2

 

 

 

Notes to the Unaudited Financial Statements

 

3

 

 

 

Supplemental Schedule*

 

 

 

 

 

Schedule of Assets Held for Investment Purposes as of December 31, 2017

 

7

 

 

 

Signature

 

12

 


*  Other supplemental schedules required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, have been omitted because they are not applicable or not required.

 



Table of Contents

 

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

(Unaudited)

 

 

 

December 31,

 

 

 

2017

 

2016

 

 

 

 

 

 

 

Assets

 

 

 

 

 

Investments at fair value:

 

 

 

 

 

Investments, at fair value

 

$

8,447,023

 

$

4,337,602

 

Cash equivalents including money market funds

 

700,016

 

2,103,209

 

Total Investments at fair value

 

$

9,147,039

 

$

6,440,811

 

 

 

 

 

 

 

Receivables:

 

 

 

 

 

Employer’s contributions

 

$

377,867

 

$

335,848

 

Notes receivable from participant loans

 

73,690

 

63,074

 

Total Receivables

 

$

451,557

 

$

398,922

 

 

 

 

 

 

 

Total Assets

 

$

9,598,596

 

$

6,839,733

 

 

 

 

 

 

 

Net Assets Available for Benefits

 

$

9,598,596

 

$

6,839,733

 

 

See accompanying notes to the financial statements.

 

1



Table of Contents

 

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

(Unaudited)

 

 

 

For the Year Ended
December 31, 2017

 

 

 

 

 

Additions to net assets:

 

 

 

Investment Income:

 

 

 

Interest and dividends

 

$

448,068

 

Net appreciation in fair value of investments

 

679,484

 

Total investment income

 

1,127,552

 

 

 

 

 

Contributions:

 

 

 

Participant’s Contributions

 

$

655,514

 

Employer’s Contributions

 

377,867

 

Rollovers

 

605,821

 

Total contributions

 

1,639,202

 

 

 

 

 

Interest on notes receivable from participants

 

$

2,749

 

 

 

 

 

Total additions to net assets

 

$

2,769,503

 

 

 

 

 

Deductions from net assets:

 

 

 

Benefits distributed to participants

 

$

9,026

 

Administrative expenses

 

1,614

 

Total deductions from net assets

 

$

10,640

 

 

 

 

 

Increase in net assets available for plan benefits

 

$

2,758,863

 

 

 

 

 

Net assets available for benefits:

 

 

 

Beginning of year

 

6,839,733

 

End of year

 

$

9,598,596

 

 

See accompanying notes to the financial statements.

 

2



Table of Contents

 

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

Notes to the Unaudited Financial Statements

December 31, 2017

 

1. Description of the Plan

 

The following description of the MFA Financial, Inc. 401(k) Savings Plan (the “Plan”) provides only general information.  Participants should refer to the Plan documents for a more complete description of the Plan’s provisions, a copy of which is available from MFA Financial, Inc. (the “Company”).

 

General

 

The Plan, which became effective January 1, 2002, is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).  The Plan is administered by the Company’s 401(k) committee (the “401(k) Committee”) with certain administrative functions of the Plan delegated to others in accordance with the terms of the Plan.  The Plan’s investments are held by a trust fund administered by Fidelity Management Trust Company (the “Trustee”).  In February 2017, the Company transferred the recordkeeping, trustee services and investment options for the Plan to the Trustee.  Prior to that date, the Plan’s investments were self-directed and were held in a trust for which Morgan Stanley Smith Barney, LLC served as trustee.

 

Investment Funds, Contributions and Vesting

 

Under the terms of the Plan, all regular full-time and part-time employees of the Company who are 21 years of age 1) can make elective contributions to the Plan beginning as soon as practicable after the date of hire; and 2) are eligible to receive Company matching contributions.

 

Participants may elect to have a portion of their eligible compensation contributed to the Plan on a before-tax basis, up to the maximum deferral permitted under the Internal Revenue Code of 1986, as amended (the “Code”).  For 2017, this limit was $18,000.  Participants who are age 50 or older can make before-tax catch-up contributions to the Plan, the amount of which was limited to $6,000 per participant in 2017.  Participants may change their deferral percentage as applicable at the beginning of each payroll period.  Participant’s contributions may be invested in one or a combination of the various investment options offered by the Plan.  A participant’s account balance may generally be transferred among the Plan’s investment options at any time upon receipt of instructions from the participant, except for certain limitations, including, but not limited to, the provisions of the Company’s Insider Trading Policy.

 

On an annual basis, the Company makes matching contributions in cash for each eligible participant in an amount equal to the addition of 1) 100% of the first 3% of an eligible participant’s compensation contributed to the Plan; and 2) 50% of the next 2% of the eligible participant’s compensation contributed to the Plan.  Company matching contributions are subject to certain limitations imposed by applicable provisions of the Plan and the Code, including compliance with applicable statutory limits and non-discrimination rules.  For 2017, the annual maximum employer matching contribution for each eligible participant was $10,800.  Participants are immediately vested in their before-tax and Company matching contributions, as well as any investment earnings/losses thereon.  During 2017, the Company made matching contributions of $335,848 with respect to eligible employee contributions made during 2016.  In addition, on an annual basis, the Company at its discretion, may decide to make nonelective employer contributions to eligible participants in the Plan.  The Plan provides that such contributions by the Company will vest 20% after two years of service with an additional 20% vesting for each year of service thereafter until the sixth year, at which time such contributions are fully vested.  The nonelective employer contributions are automatically fully vested upon a participant’s termination due to retirement, death or disability, as defined in the Plan.

 

Participants are permitted to transfer eligible amounts from certain other tax qualified plans to the Plan (“Rollovers”), subject to Plan requirements.  Rollovers are not subject to Company matching contributions.

 

The Plan provides for multiple investment options to be made available through the Trustee, including core investment options as determined by the 401(k) Committee, a group of target date options, an advisory asset management service and a self-directed brokerage option.  In addition, the Plan document requires that both the Company’s common and preferred stock be offered as a core investment option, subject to compliance with ERISA.  Contributions or Rollovers related to the Company’s common or preferred stock are also subject to the Company’s Insider Trading Policy.  See Note 3 for Investment Options under the Plan.

 

3



Table of Contents

 

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

Notes to the Unaudited Financial Statements

December 31, 2017

 

Notes Receivable from Participants (Loans)

 

The Plan includes a provision that allows participants to apply for a loan from their account balance for a minimum amount of $1,000 up to the lesser of 50% of the value of the vested portion of their Plan assets or $50,000, subject to the certain restrictions set forth in the Plan and the Code.  The loans may be repaid through payroll deductions and may have loan terms ranging up to five years, or ten years if for the purchase of a primary residence.  A participant may have only two loans outstanding at a time.  The loans are secured by the balance in the participant’s account and bear interest at a fixed rate throughout the duration the loan of prime plus one percentage point.  At December 31, 2017, loans outstanding to participants had interest rates ranging from 4.25% to 5.25% and will mature at various dates through November, 2022.

 

Distributions and Withdrawals

 

Participants are permitted to withdraw any portion of their vested account balance due to death, permanent disability, retirement, attainment of age 59-½, or in the event of financial hardship or termination of service.  The participant may elect to receive a lump sum payment, installment payments, or rollover the vested account balance to another qualified plan.  Hardship withdrawals are allowed for participants incurring an “immediate and heavy financial need,” as defined by the Plan.  Hardship withdrawals are strictly regulated under the Code and the regulations thereunder, and a participant must exhaust all available loan options and available distributions prior to being permitted to make a hardship withdrawal.

 

Administrative Expenses

 

Plan administrative expenses, to the extent not paid by the Company, are charged to and paid from the Plan’s assets as incurred.

 

2. Summary of Significant Accounting Policies

 

Basis of Presentation

 

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”).

 

Use of Estimates

 

The preparation of financial statements in conformity with GAAP requires the Plan’s management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes and schedule thereto.  Actual results could differ from those estimates.

 

Cash Equivalents Including Money Market Funds

 

Participant investments in money market funds, whose underlying investments are assessed to be liquid financial instruments are considered to be cash equivalents.

 

Valuation of Investments and Investment Income

 

Investments held by the Plan are stated at estimated fair value.  Equity securities are valued at the closing price reported on the market on which the individual securities are traded on the last business day of the Plan year.  Investments in mutual funds are valued at the net asset value of units held by the Plan as reported by the mutual fund on the last business day of the Plan year.  Other investments are valued using available information including information reported on the market on which such investments are traded, net asset value of the entity that issued the investment security or other information as deemed appropriate to use to estimate fair value.

 

The net appreciation or depreciation in the fair value of investments, which includes any unrealized appreciation or depreciation on those investments plus realized gains or losses on any investments sold, are reported in Investment Income on the Plan’s Statement of Changes in Net Assets Available for Benefits.  Interest and dividend income is recorded when received.

 

4



Table of Contents

 

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

Notes to the Unaudited Financial Statements

December 31, 2017

 

Distributions to Participants

 

Distributions to participants are recorded when paid by the Plan.

 

Notes Receivable from Participants

 

Notes receivable from participants (loans) are funded directly from the participants account balance.  Repayments of principal and interest related to the loan are credited to the participant’s account on a pro-rata basis in accordance with their selected investment options.

 

3. Investment Options

 

The Plan provides participants with various investment options, which are exposed to various risks such as interest rate, market, and credit risks.  Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the values of a participant’s investments could occur in the near term and that such changes could materially affect the account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

 

In addition to the self-directed brokerage account option, set out below are the investment options made available under the Plan as of December 31, 2017:

 

Name of Fund

 

Name of Fund

Fidelity 500 Index Fund - Premium Class

 

Fidelity Freedom Income Fund

Fidelity Blue Chip Growth Fund

 

Fidelity Global ex U.S. Index Fund - Premium Class

Fidelity Emerging Markets Fund

 

Fidelity Money Market Trust Retirement Government Money Market Portfolio

Fidelity Extended Market Index Fund - Premium Class

 

Fidelity Overseas Fund

Fidelity Freedom 2005 Fund

 

Fidelity Small Cap Growth Fund

Fidelity Freedom 2010 Fund

 

Fidelity Total Bond Fund

Fidelity Freedom 2015 Fund

 

Fidelity U.S. Bond Index Fund - Premium Class

Fidelity Freedom 2020 Fund

 

Fidelity Value Fund

Fidelity Freedom 2025 Fund

 

Goldman Sachs Inflation Protected Securities Fund Class IR

Fidelity Freedom 2030 Fund

 

Invesco Diversified Dividend Fund R5 Class

Fidelity Freedom 2035 Fund

 

Janus Enterprise Fund Class T

Fidelity Freedom 2040 Fund

 

MassMutual Premier Small Cap Opportunities Fund Administrative Class

Fidelity Freedom 2045 Fund

 

MFA Financial, Inc. Common Stock

Fidelity Freedom 2050 Fund

 

MFA Financial, Inc. Preferred Stock

Fidelity Freedom 2055 Fund

 

Wells Fargo Special Small Cap Value Fund - Class Admin

Fidelity Freedom 2060 Fund

 

 

 

4. Party-in-Interest Transactions

 

The Trustee and the Company are parties-in-interest with respect to the Plan. The Plan’s investments are held by the Trustee, and certain of the investment options available to participants include investments managed by the Trustee and its affiliates.  Transactions between the Plan, and the Trustee and its affiliates, are exempt from the prohibited transactions rules under ERISA.  As of December 31, 2017, participants in the Plan held 124,821 shares of MFA Financial, Inc. Common Stock valued at $989,589 and 6,757 shares of MFA Financial, Inc. 7.50% Series B Cumulative Redeemable Preferred Stock valued at $171,966.  Notes Receivable from Participants, as discussed in Note 1 (Description of the Plan), are also considered to be party-in-interest transactions and totaled $73,690 at December 31, 2017.

 

5



Table of Contents

 

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN

Notes to the Unaudited Financial Statements

December 31, 2017

 

5. Plan Termination

 

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.  Each participant’s interest in the Plan is 100% vested at all times, including the portion attributable to Company matching contributions.  In the event of Plan termination, any unvested nonelective employer contributions will become 100% vested and the Plan assets will be distributed in accordance with the Plan document.

 

6. Tax Status

 

The Plan has received a determination letter from the Internal Revenue Service (“IRS”) dated March 31, 2014, stating that the Plan is qualified under section 401(a) of the Code, and therefore, the related trust is exempt from taxation.

 

7. Subsequent Events

 

The Company has evaluated whether events or transactions have occurred after December 31, 2017 that would require recognition or disclosure in these financial statements through June 20, 2018, which is the date these financial statements were available to be issued.  No such transactions required recognition or disclosure in these financial statements.

 

6



Table of Contents

 

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN

Schedule of Assets Held For Investment Purposes

December 31, 2017

(Unaudited)

 

Identity of Issue, Borrower, Lessor or Similar Party

 

Description of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value

 

Current
Value

 

 

 

 

 

 

 

* MFA Financial, Inc.

 

Common Stock, shares: 124,821

 

$

989,589

 

Liberty Global Plc LiLAC Class C

 

Common Stock, shares: 8,087

 

160,850

 

Facebook Inc

 

Common Stock, shares: 735

 

129,698

 

Tesla Inc

 

Common Stock, shares: 400

 

124,540

 

IRSA Inversiones y Representaciones

 

Common Stock, shares: 4,000

 

118,400

 

Equity Residential

 

Common Stock, shares: 1,500

 

95,655

 

YPF SA

 

Common Stock, shares: 4,000

 

91,640

 

Apple Inc

 

Common Stock, shares: 503

 

85,207

 

Bank of America Corp

 

Common Stock, shares: 2,578

 

76,114

 

Royal Bank of Canada

 

Common Stock, shares: 797

 

65,037

 

Xenia Hotels & Resorts Inc

 

Common Stock, shares: 3,000

 

64,770

 

Citigroup Inc

 

Common Stock, shares: 758

 

56,374

 

AvalonBay Communities Inc

 

Common Stock, shares: 300

 

53,523

 

Verizon Communications Inc

 

Common Stock, shares: 1,011

 

53,519

 

Alphabet Inc

 

Common Stock, shares: 50

 

52,320

 

Forest City Realty Trust Inc

 

Common Stock, shares: 2,000

 

48,200

 

Alexander’s Inc

 

Common Stock, shares: 120

 

47,747

 

CenturyLink Inc

 

Common Stock, shares: 2,851

 

47,547

 

New Residential Investment Corp

 

Common Stock, shares: 2,158

 

38,587

 

PepsiCo Inc

 

Common Stock, shares: 306

 

36,732

 

Intel Corp

 

Common Stock, shares: 702

 

32,412

 

Fannie Mae

 

Common Stock, shares: 12,000

 

31,800

 

The Home Depot Inc

 

Common Stock, shares: 122

 

23,188

 

The Walt Disney Co

 

Common Stock, shares: 201

 

21,659

 

DowDuPont Inc

 

Common Stock, shares: 280

 

19,942

 

New York Community Bancorp Inc

 

Common Stock, shares: 1,500

 

19,530

 

AG Mortgage Investment Trust I

 

Common Stock, shares: 1,000

 

19,010

 

Liberty Global PLC Class A

 

Common Stock, shares: 500

 

17,920

 

Barclays Bank PLC

 

Common Stock, shares: 2,700

 

17,658

 

Liberty Global PLC Class C

 

Common Stock, shares: 500

 

16,920

 

Arcam AB

 

Common Stock, shares: 400

 

16,855

 

Deere & Co

 

Common Stock, shares: 101

 

15,879

 

Union Pacific Corp

 

Common Stock, shares: 102

 

13,623

 

Ellington Residential Mortgage

 

Common Stock, shares: 1,000

 

12,040

 

iRobot Corp

 

Common Stock, shares: 150

 

11,505

 

PennyMac Mortgage Investment

 

Common Stock, shares: 700

 

11,249

 

Apollo Commercial Real Estate

 

Common Stock, shares: 500

 

9,225

 

Microsoft Corp

 

Common Stock, shares: 102

 

8,687

 

Apache Corp

 

Common Stock, shares: 201

 

8,495

 

 

7



Table of Contents

 

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN

Schedule of Assets Held For Investment Purposes

December 31, 2017

(Unaudited)

 

Identity of Issue, Borrower, Lessor or Similar Party

 

Description of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value

 

Current
Value

 

 

 

 

 

 

 

Exxon Mobil Corp

 

Common Stock, shares: 101

 

8,442

 

Colony NorthStar Inc

 

Common Stock, shares: 725

 

8,272

 

Under Armour Inc

 

Common Stock, shares: 500

 

7,215

 

Michael Kors Holdings Ltd

 

Common Stock, shares: 100

 

6,295

 

Twitter Inc

 

Common Stock, shares: 200

 

4,802

 

Transocean Ltd

 

Common Stock, shares: 392

 

4,187

 

The ExOne Co

 

Common Stock, shares: 400

 

3,360

 

Activision Blizzard Inc

 

Common Stock, shares: 50

 

3,166

 

Panasonic Corp

 

Common Stock, shares: 200

 

2,929

 

KKR Real Estate Finance Trust

 

Common Stock, shares: 110

 

2,201

 

Sirius XM Holdings Inc

 

Common Stock, shares: 400

 

2,144

 

Cherry Hill Mortgage Investment

 

Common Stock, shares: 115

 

2,069

 

Liberty Global Plc LiLAC Class A

 

Common Stock, shares: 87

 

1,753

 

Arlington Asset Investment Corp

 

Common Stock, shares: 125

 

1,473

 

MTGE Investment Corp

 

Common Stock, shares: 75

 

1,388

 

Chimera Investment Corp

 

Common Stock, shares: 75

 

1,386

 

Annaly Capital Management Inc

 

Common Stock, shares: 75

 

892

 

CYS Investments Inc

 

Common Stock, shares: 100

 

802

 

360 Blockchain Inc

 

Common Stock, shares: 3,100

 

631

 

New York Mortgage Trust Inc

 

Common Stock, shares: 100

 

616

 

Seadrill Ltd

 

Common Stock, shares: 1,000

 

230

 

Impac Mortgage Holdings Inc

 

Common Stock, shares: 10

 

102

 

Frontier Communications Corp

 

Common Stock, shares: 7

 

46

 

WMIH Corp

 

Common Stock, shares: 1

 

1

 

 

 

Sub-Total

 

$

2,828,048

 

 

 

 

 

 

 

* MFA Financial, Inc.

 

Preferred Stock, shares: 6,757

 

171,966

 

AGNC Investment Corp

 

Preferred Stock, shares: 6,000

 

155,040

 

Annaly Capital Management Series E

 

Preferred Stock, shares: 5,895

 

148,849

 

AG Mortgage Investment Trust

 

Preferred Stock, shares: 5,000

 

126,650

 

CYS Investments Inc Series B

 

Preferred Stock, shares: 4,625

 

114,608

 

Chimera Investment Corp Series B

 

Preferred Stock, shares: 4,400

 

113,520

 

Invesco Mortgage Capital

 

Preferred Stock, shares: 4,500

 

112,574

 

PennyMac Mortgage Investment

 

Preferred Stock, shares: 4,000

 

100,920

 

Dynex Capital Inc

 

Preferred Stock, shares: 3,500

 

86,695

 

Two Harbors Investment Corp

 

Preferred Stock, shares: 3,000

 

81,780

 

Chimera Investment Corp Series A

 

Preferred Stock, shares: 1,900

 

49,058

 

CYS Investments Inc Series A

 

Preferred Stock, shares: 1,891

 

47,313

 

Kinder Morgan Inc

 

Preferred Stock, shares: 1,000

 

37,960

 

 

8



Table of Contents

 

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN

Schedule of Assets Held For Investment Purposes

December 31, 2017

(Unaudited)

 

Identity of Issue, Borrower, Lessor or Similar Party

 

Description of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value

 

Current
Value

 

 

 

 

 

 

 

Annaly Capital Management Series C

 

Preferred Stock, shares: 1,000

 

25,490

 

Annaly Capital Management Series D

 

Preferred Stock, shares: 1,000

 

25,360

 

Capstead Mortgage

 

Preferred Stock, shares: 1,000

 

25,350

 

New York Mortgage Trust Series D

 

Preferred Stock, shares: 1,000

 

24,690

 

New York Mortgage Trust Series C

 

Preferred Stock, shares: 1,000

 

24,497

 

Colony Nortstar Inc

 

Preferred Stock, shares: 800

 

20,448

 

Apollo Commercial Real Estate

 

Preferred Stock, shares: 500

 

12,905

 

 

 

Sub-Total

 

$

1,505,673

 

 

 

 

 

 

 

* Fidelity Freedom 2030 Fund

 

Mutual funds

 

417,997

 

* Fidelity Freedom 2045 Fund

 

Mutual funds

 

311,565

 

* Fidelity Freedom 2040 Fund

 

Mutual funds

 

293,987

 

* Fidelity Blue Chip Growth Fund

 

Mutual funds

 

221,592

 

* Fidelity Freedom 2050 Fund

 

Mutual funds

 

207,632

 

American - The Growth Fund of America Class F

 

Mutual funds

 

207,403

 

American Funds EuroPacific Growth Class F

 

Mutual funds

 

206,552

 

American New Perspective Fund Class F

 

Mutual funds

 

203,190

 

* Fidelity Government Money Market Fund

 

Mutual funds

 

180,721

 

* Fidelity 500 Index Fund

 

Mutual funds

 

175,380

 

* Fidelity Contrafund

 

Mutual funds

 

143,289

 

* Fidelity Freedom 2020 Fund

 

Mutual funds

 

126,420

 

* Fidelity Freedom 2055 Fund

 

Mutual funds

 

90,801

 

* Fidelity Freedom 2035 Fund

 

Mutual funds

 

70,089

 

* Fidelity Emerging Markets Fund

 

Mutual funds

 

57,727

 

* Fidelity Total Bond Fund

 

Mutual funds

 

46,619

 

* Fidelity OTC Portfolio

 

Mutual funds

 

43,370

 

* Fidelity Large Cap Growth Enhanced Index

 

Mutual funds

 

40,262

 

* Fidelity Freedom 2025 Fund

 

Mutual funds

 

40,125

 

Invesco Equally-Weighted S&P 500

 

Mutual funds

 

36,501

 

* Fidelity Small Cap Growth Fund

 

Mutual funds

 

35,847

 

* Fidelity Growth Discovery Fund

 

Mutual funds

 

34,222

 

* Fidelity US Bond Index

 

Mutual funds

 

27,290

 

* Fidelity Total Market Index Fund

 

Mutual funds

 

26,710

 

* Janus Henderson Enterprise Fund

 

Mutual funds

 

25,384

 

* Fidelity Freedom 2060 Fund

 

Mutual funds

 

25,223

 

PIMCO Income Fund

 

Mutual funds

 

21,149

 

American - The Growth Fund of America Class A

 

Mutual funds

 

17,140

 

American New Perspective Fund Class A

 

Mutual funds

 

15,710

 

American Funds EuroPacific Growth Class A

 

Mutual funds

 

14,007

 

 

9



Table of Contents

 

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN

Schedule of Assets Held For Investment Purposes

December 31, 2017

(Unaudited)

 

Identity of Issue, Borrower, Lessor or Similar Party

 

Description of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value

 

Current
Value

 

 

 

 

 

 

 

Eventide Gilead Fund

 

Mutual funds

 

13,946

 

Hodges Fund - Professionally Managed Portfolio

 

Mutual funds

 

13,212

 

Champlain Mid Cap Fund

 

Mutual funds

 

12,955

 

Pin Oak Equity Fund

 

Mutual funds

 

12,621

 

* Fidelity Mid Cap Value Fund

 

Mutual funds

 

11,203

 

* Fidelity Puritan Fund

 

Mutual funds

 

10,652

 

* Fidelity Japan Fund

 

Mutual funds

 

9,932

 

* Fidelity China Region Fund

 

Mutual funds

 

9,906

 

* Fidelity Freedom 2015 Fund

 

Mutual funds

 

8,496

 

* Fidelity Global ex US Index Fund

 

Mutual funds

 

7,409

 

JPMorgan Income Builder Fund

 

Mutual funds

 

6,968

 

* Fidelity Overseas Fund

 

Mutual funds

 

6,831

 

AIG Focused Dividend Strategy

 

Mutual funds

 

6,664

 

* Wells Fargo Special Small Cap

 

Mutual funds

 

6,218

 

* Fidelity Extended Market Index

 

Mutual funds

 

5,788

 

* Fidelity Freedom Income Fund

 

Mutual funds

 

3,330

 

* Invesco Diversified Dividend F

 

Mutual funds

 

3,157

 

* MassMutual Premier Small/Mid

 

Mutual funds

 

2,996

 

* Fidelity Value Fund

 

Mutual funds

 

2,482

 

 

 

Sub-Total

 

$

3,518,670

 

 

 

 

 

 

 

SPDR Portfolio Total Stock Market

 

Other investments

 

114,775

 

SPDR S&P 500 ETF Trust

 

Other investments

 

98,738

 

WisdomTree India Earnings Fund

 

Other investments

 

64,032

 

iShares Russell 1000 ETF

 

Other investments

 

52,014

 

Vanguard Extended Market ETF

 

Other investments

 

50,279

 

Vanguard S&P 500 ETF

 

Other investments

 

49,058

 

SPDR Dow Jones Industrial Average ETF

 

Other investments

 

37,107

 

iShares Core S&P 500 ETF

 

Other investments

 

33,419

 

Financial Select Sector SPDR Fund

 

Other investments

 

22,607

 

Energy Select Sector SPDR Fund

 

Other investments

 

22,254

 

iShares MSCI India ETF

 

Other investments

 

18,241

 

iShares MSCI Japan ETF

 

Other investments

 

12,144

 

iShares MSCI Mexico ETF

 

Other investments

 

10,069

 

Vanguard Energy ETF

 

Other investments

 

9,895

 

 

 

Sub-Total

 

$

594,632

 

 

 

 

 

 

 

* Fidelity Cash Reserves

 

Cash

 

697,832

 

* Fidelity Non-interest Bearing Cash

 

Non-interest bearing cash

 

2,184

 

 

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Table of Contents

 

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN

Schedule of Assets Held For Investment Purposes

December 31, 2017

(Unaudited)

 

Identity of Issue, Borrower, Lessor or Similar Party

 

Description of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value

 

Current
Value

 

 

 

 

 

 

 

 

 

Sub-Total

 

$

700,016

 

 

 

 

 

 

 

* Participant Loans

 

Interest Rate 4.25% - 5.25% Maturity Dates through November, 2022

 

$

73,690

 

 

 

 

 

 

 

 

 

Grand Total

 

$

9,220,729

 

 


* Indicates party-in-interest to the Plan.

 

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Table of Contents

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the MFA Financial, Inc. 401(k) Savings Plan) have duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

 

Date: June 20, 2018

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN

 

 

 

 

 

 

 

By:

/s/ Stephen D. Yarad

 

 

Stephen D. Yarad

 

 

Member

 

 

MFA Financial, Inc. 401(k) Plan Administration Committee

 

12


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