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Section 1: 11-K (11-K MFA FINANCIAL, INC. 401(K) SAVINGS PLAN 12.31.2018)

Document


 

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, 2018

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

 




MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Financial Statements and Supplemental Schedule
(Unaudited)




TABLE OF CONTENTS

 
Page
Financial Statements
 
 
 
 
 
 
 
 
 
Supplemental Schedule*
 
 
 
 
 







* 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,
 
 
2018
 
2017
 
 
 
 
 
Assets
 
 
 
 
Investments at fair value:
 
 
 
 
Investments, at fair value
 
$
7,648,537

 
$
8,447,023

Cash equivalents including money market funds
 
644,040

 
700,016

Total Investments at fair value
 
$
8,292,577

 
$
9,147,039

 
 
 
 
 
Receivables:
 
 
 
 
Employer’s contributions
 
$
396,269

 
$
377,867

Notes receivable from participant loans
 
85,917

 
73,690

Total Receivables
 
$
482,186

 
$
451,557

 
 
 
 
 
Total Assets
 
$
8,774,763

 
$
9,598,596

 
 
 
 
 
Net Assets Available for Benefits
 
$
8,774,763

 
$
9,598,596



See accompanying notes to the financial statements.

        
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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, 2018
 
 
 
Additions to net assets:
 
 
Investment Income:
 
 
Interest and dividends
 
$
514,283

Total investment income
 
514,283

 
 
 
Contributions:
 
 
Participant’s Contributions
 
$
700,820

Employer’s Contributions
 
396,269

Rollovers
 
5,273

Total contributions
 
1,102,362

 
 
 
Interest on notes receivable from participants
 
$
4,296

 
 
 
Total additions to net assets
 
$
1,620,941

 
 
 
Deductions from net assets:
 
 
Benefits distributed to participants
 
$
1,367,279

Net depreciation in fair value of investments
 
1,074,390

Administrative expenses
 
3,105

Total deductions from net assets
 
$
2,444,774

 
 
 
Decrease in net assets available for plan benefits
 
$
(823,833
)
 
 
 
Net assets available for benefits:
 
 
Beginning of year
 
9,598,596

End of year
 
$
8,774,763



See accompanying notes to the financial statements.


        
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Table of Contents
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2018



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 2018, this limit was $18,500. 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 2018. 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 2018, the annual maximum employer matching contribution for each eligible participant was $11,000. Participants are immediately vested in their before-tax and Company matching contributions, as well as any investment earnings/losses thereon. During 2018, the Company made matching contributions of $377,867 with respect to eligible employee contributions made during 2017. 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.


        
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Table of Contents
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2018


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, 2018, loans outstanding to participants had interest rates ranging from 4.25% to 5.75% and will mature at various dates through May, 2023.

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.


        
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Table of Contents
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2018


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, 2018:

Name of Fund
 
Name of Fund
Fidelity 500 Index Fund
 
Fidelity Freedom Income Fund
Fidelity Blue Chip Growth Fund
 
Fidelity Global ex U.S. Index Fund
Fidelity Emerging Markets Fund
 
Fidelity Government Money Market Fund
Fidelity Extended Market Index Fund
 
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
Fidelity Freedom 2020 Fund
 
Fidelity Value Fund
Fidelity Freedom 2025 Fund
 
Goldman Sachs Inflation Protected Securities Fund Investor Shares
Fidelity Freedom 2030 Fund
 
Invesco Diversified Dividend Fund R5 Class
Fidelity Freedom 2035 Fund
 
Janus Henderson 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, 2018, participants in the Plan held 118,910 shares of MFA Financial, Inc. Common Stock valued at $795,348 and 6,784 shares of MFA Financial, Inc. 7.50% Series B Cumulative Redeemable Preferred Stock valued at $165,674. Notes Receivable from Participants, as discussed in Note 1 (Description of the Plan), are also considered to be party-in-interest transactions and totaled $85,917 at December 31, 2018.

        
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Table of Contents
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2018



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, 2018 that would require recognition or disclosure in these financial statements through June 18, 2019, which is the date these financial statements were available to be issued. No such transactions required recognition or disclosure in these financial statements.



        
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Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2018
(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
 
Common Stock, shares: 118,910
 
$
795,348

Tesla Inc
 
Common Stock, shares: 400
 
133,120

Apple Inc
 
Common Stock, shares: 719
 
113,512

Amazon.com Inc
 
Common Stock, shares: 51
 
76,600

Facebook Inc
 
Common Stock, shares: 545
 
71,444

Verizon Communications Inc
 
Common Stock, shares: 1,056
 
59,391

PayPal Holdings Inc
 
Common Stock, shares: 700
 
58,863

Royal Bank of Canada
 
Common Stock, shares: 826
 
56,666

Alphabet Inc
 
Common Stock, shares: 54
 
55,923

salesforce.com Inc
 
Common Stock, shares: 400
 
54,788

Micron Technology Inc
 
Common Stock, shares: 1,700
 
53,941

Alibaba Group Holding Ltd
 
Common Stock, shares: 300
 
41,121

Seaspan Corp
 
Common Stock, shares: 5,084
 
39,814

PepsiCo Inc
 
Common Stock, shares: 315
 
34,900

CenturyLink Inc
 
Common Stock, shares: 2,079
 
31,505

Alexander's Inc
 
Common Stock, shares: 100
 
30,474

Intel Corp
 
Common Stock, shares: 600
 
28,158

Square Inc
 
Common Stock, shares: 500
 
28,045

NVIDIA Corp
 
Common Stock, shares: 200
 
26,776

AG Mortgage Investment Trust I
 
Common Stock, shares: 1,480
 
23,576

Spotify Technology SA
 
Common Stock, shares: 200
 
22,700

Walt Disney Co/The
 
Common Stock, shares: 204
 
22,426

DowDuPont Inc
 
Common Stock, shares: 360
 
19,253

Citigroup Inc
 
Common Stock, shares: 308
 
16,065

Apollo Commercial Real Estate
 
Common Stock, shares: 950
 
15,827

Deere & Co
 
Common Stock, shares: 103
 
15,410

Callaway Golf Co
 
Common Stock, shares: 1,000
 
15,300

Two Harbors Investment Corp
 
Common Stock, shares: 1,146
 
14,715

Union Pacific Corp
 
Common Stock, shares: 103
 
14,349

Walmart Inc
 
Common Stock, shares: 151
 
14,136

Barclays Bank PLC
 
Common Stock, shares: 2,700
 
12,933

Advanced Micro Devices Inc
 
Common Stock, shares: 700
 
12,922

Fannie Mae
 
Common Stock, shares: 12,000
 
12,720

Microsoft Corp
 
Common Stock, shares: 112
 
11,391

Arcam AB
 
Common Stock, shares: 400
 
10,688

Liberty Global PLC
 
Common Stock, shares: 500
 
10,320

Ellington Residential Mortgage
 
Common Stock, shares: 1,000
 
10,230

Annaly Capital Management Inc
 
Common Stock, shares: 949
 
9,319

Under Armour Inc
 
Common Stock, shares: 500
 
8,835


        
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Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2018
(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

Netflix Inc
 
Common Stock, shares: 33
 
8,833

Exxon Mobil Corp
 
Common Stock, shares: 105
 
7,169

IBM
 
Common Stock, shares: 60
 
6,820

YY Inc
 
Common Stock, shares: 100
 
5,986

Nestle SA
 
Common Stock, shares: 68
 
5,505

Apache Corp
 
Common Stock, shares: 206
 
5,415

New Residential Investment Corp
 
Common Stock, shares: 354
 
5,039

Target Corp
 
Common Stock, shares: 75
 
4,957

Southwestern Energy Co
 
Common Stock, shares: 1,075
 
3,666

Colony Capital Inc
 
Common Stock, shares: 725
 
3,393

Twitter Inc
 
Common Stock, shares: 100
 
2,874

Transocean Ltd
 
Common Stock, shares: 392
 
2,720

ExOne Co/The
 
Common Stock, shares: 400
 
2,648

Activision Blizzard Inc
 
Common Stock, shares: 50
 
2,329

Cherry Hill Mortgage Investment
 
Common Stock, shares: 115
 
2,017

AGNC Investment Corp
 
Common Stock, shares: 110
 
1,929

PennyMac Mortgage Investment T
 
Common Stock, shares: 100
 
1,862

Panasonic Corp
 
Common Stock, shares: 200
 
1,806

Chimera Investment Corp
 
Common Stock, shares: 75
 
1,337

Universal Display Corp
 
Common Stock, shares: 14
 
1,312

Liberty Latin America Ltd Class C
 
Common Stock, shares: 87
 
1,268

Liberty Latin America Ltd Class A
 
Common Stock, shares: 87
 
1,260

Western Digital Corp
 
Common Stock, shares: 29
 
1,089

Logitech International SA
 
Common Stock, shares: 30
 
948

Arlington Asset Investment Corp
 
Common Stock, shares: 125
 
905

Cypress Semiconductor Corp
 
Common Stock, shares: 65
 
833

Ichor Holdings Ltd
 
Common Stock, shares: 48
 
782

Yext Inc
 
Common Stock, shares: 52
 
772

Applied Materials Inc
 
Common Stock, shares: 23
 
764

General Electric Co
 
Common Stock, shares: 100
 
757

New York Mortgage Trust Inc
 
Common Stock, shares: 100
 
589

Cloudera Inc
 
Common Stock, shares: 25
 
277

Impac Mortgage Holdings Inc
 
Common Stock, shares: 10
 
39

Seadrill Ltd
 
Common Stock, shares: 3
 
30

Frontier Communications Corp
 
Common Stock, shares: 6
 
16

 
 
Sub-Total
 
$
2,171,450

 
 
 
 
 
*MFA Financial, Inc. Preferred Stock
 
Preferred Stock, shares: 6,784
 
165,674

Chimera Investment Corp Series A
 
Preferred Stock, shares: 4,900
 
122,206


        
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Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2018
(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

Pennymac Mortgage Investment
 
Preferred Stock, shares: 4,000
 
95,080

Chimera Investment Corp Series B
 
Preferred Stock, shares: 3,400
 
86,870

Two Harbors Investment Corp Series A
 
Preferred Stock, shares: 3,000
 
78,450

AGNC Investment Corp
 
Preferred Stock, shares: 3,000
 
75,900

Two Harbors Investment Corp Series E
 
Preferred Stock, shares: 3,000
 
68,820

AG Mortgage Investment Trust
 
Preferred Stock, shares: 2,000
 
48,400

Dynex Capital Inc
 
Preferred Stock, shares: 2,000
 
46,100

Two Harbors Investment Corp Series D
 
Preferred Stock, shares: 1,891
 
44,665

New York Mortgage Trust
 
Preferred Stock, shares: 1,000
 
21,900

Apollo Commercial Real Estate
 
Preferred Stock, shares: 500
 
12,295

 
 
Sub-Total
 
$
866,360

 
 
 
 
 
*Fidelity Freedom 2030 Fund
 
Mutual Funds
 
424,423

*Fidelity Freedom 2040 Fund
 
Mutual Funds
 
353,820

*Fidelity Freedom 2045 Fund
 
Mutual Funds
 
325,292

*Fidelity 500 Index Fund
 
Mutual Funds
 
305,934

*Fidelity Blue Chip Growth Fund
 
Mutual Funds
 
239,753

*Fidelity Government Money Market Fund
 
Mutual Funds
 
215,381

American - The Growth Fund of America Class F
 
Mutual Funds
 
209,851

American New Perspective Fund Class F
 
Mutual Funds
 
203,423

American Funds EuroPacific Growth Class F
 
Mutual Funds
 
186,193

*Fidelity Freedom 2050 Fund
 
Mutual Funds
 
173,744

*Fidelity Freedom 2020 Fund
 
Mutual Funds
 
169,999

*Fidelity Contrafund
 
Mutual Funds
 
150,631

*Fidelity Real Estate Income Fund
 
Mutual Funds
 
103,956

*Fidelity Freedom 2055 Fund
 
Mutual Funds
 
95,583

*Fidelity Freedom 2035 Fund
 
Mutual Funds
 
79,026

*Fidelity Small Cap Growth Fund
 
Mutual Funds
 
66,033

*Fidelity OTC Portfolio
 
Mutual Funds
 
63,291

*Fidelity U.S. Bond Index Fund
 
Mutual Funds
 
50,080

*Fidelity Freedom 2060 Fund
 
Mutual Funds
 
43,483

*Fidelity Total Bond Fund
 
Mutual Funds
 
42,916

*Fidelity Emerging Markets Fund
 
Mutual Funds
 
40,924

*Fidelity Large Cap Growth Enhanced
 
Mutual Funds
 
38,744

*Fidelity Freedom 2025 Fund
 
Mutual Funds
 
37,169

*Fidelity Growth Discovery Fund
 
Mutual Funds
 
34,131

Invesco Equally-Weighted S&P 500
 
Mutual Funds
 
33,546

*Janus Henderson Enterprise Fund Class T
 
Mutual Funds
 
33,304

PIMCO Income Fund
 
Mutual Funds
 
21,182


        
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Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2018
(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

*Fidelity Extended Market Index Fund
 
Mutual Funds
 
19,409

*Fidelity Global ex U.S. Index Fund
 
Mutual Funds
 
18,139

American - The Growth Fund of America Class A
 
Mutual Funds
 
16,646

American New Perspective Fund Class A
 
Mutual Funds
 
14,791

*Fidelity Freedom 2015 Fund
 
Mutual Funds
 
13,621

Eventide Gilead Fund
 
Mutual Funds
 
13,591

Champlain Mid Cap Fund
 
Mutual Funds
 
13,413

American Funds EuroPacific Growth Class A
 
Mutual Funds
 
11,879

*Fidelity Overseas Fund
 
Mutual Funds
 
11,870

Pin Oak Equity Fund
 
Mutual Funds
 
11,842

Virtus KAR Small-Cap Growth Fund
 
Mutual Funds
 
11,730

*Fidelity Puritan Fund
 
Mutual Funds
 
10,209

*Wells Fargo Special Small Cap Value Fund - Class Admin
 
Mutual Funds
 
8,809

JPMorgan Income Builder Fund
 
Mutual Funds
 
6,657

*Fidelity Value Fund
 
Mutual Funds
 
6,582

AIG Focused Dividend Strategy
 
Mutual Funds
 
5,911

*MassMutual Premier Small Cap Opportunities Fund Administrative Class
 
Mutual Funds
 
5,489

*Fidelity Select Medical Techno
 
Mutual Funds
 
4,680

*Fidelity Select Software & IT
 
Mutual Funds
 
4,470

*Fidelity Select Retailing Port
 
Mutual Funds
 
4,350

*Fidelity Select Semiconductors
 
Mutual Funds
 
4,176

*Invesco Diversified Dividend Fund R5 Class
 
Mutual Funds
 
3,645

T Rowe Price Blue Chip Growth
 
Mutual Funds
 
2,318

American Funds - New Economy F
 
Mutual Funds
 
2,198

*Goldman Sachs Inflation Protected Securities Fund Investor Shares
 
Mutual Funds
 
49

 
 
Sub-Total
 
$
3,968,286

 
 
 
 
 
SPDR Portfolio Total Stock Market
 
Other investments
 
108,717

WisdomTree India Earnings Fund
 
Other investments
 
106,640

SPDR S&P 500 ETF Trust
 
Other investments
 
92,470

Vanguard S&P 500 ETF
 
Other investments
 
51,707

Vanguard Extended Market ETF
 
Other investments
 
49,905

iShares Russell 1000 ETF
 
Other investments
 
48,542

SPDR Dow Jones Industrial Aver
 
Other investments
 
34,980

iShares Core S&P 500 ETF
 
Other investments
 
25,472

iShares U.S. Home Construction
 
Other investments
 
23,104

Financial Select Sector SPDR F
 
Other investments
 
19,662

iShares MSCI India Small-Cap E
 
Other investments
 
19,285


        
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Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2018
(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

Energy Select Sector SPDR Fund
 
Other investments
 
18,204

iShares MSCI India ETF
 
Other investments
 
17,011

iShares MSCI Japan ETF
 
Other investments
 
10,434

iShares MSCI Mexico ETF
 
Other investments
 
8,597

Vanguard Energy ETF
 
Other investments
 
7,711

 
 
Sub-Total
 
$
642,441

 
 
 
 

*Fidelity Cash Reserves
 
Cash
 
644,040

 
 
Sub-Total
 
$
644,040

 
 
 
 
 
* Participant Loans
 
Interest Rate 4.25% - 5.75%
Maturity Dates through May, 2023
 
$
85,917

 
 
 
 
 
 
 
Grand Total
 
$
8,378,494

 
 
 
 
 
* Indicates party-in-interest to the Plan.
 
 
 
 
 
 
 
 
 

        
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Table of Contents

SIGNATURE

 
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 18, 2019
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
 
 
 
 
 
 
 
 
 
By:
/s/ Stephen D. Yarad
 
 
Stephen D. Yarad
 
 
Member
 
 
MFA Financial, Inc. 401(k) Administration Committee


        
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