Toggle SGML Header (+)


Section 1: 11-K (11-K MFA FINANCIAL, INC. 12.31.2019)

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, 2019

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,
 
 
2019
 
2018
 
 
 
 
 
Assets
 
 
 
 
Investments at fair value:
 
 
 
 
Investments, at fair value
 
$
11,217,931

 
$
7,433,156

Cash equivalents including money market funds
 
1,050,284

 
859,421

Total Investments at fair value
 
$
12,268,215

 
$
8,292,577

 
 
 
 
 
Receivables:
 
 
 
 
Employer’s contributions
 
$
462,231

 
$
396,269

Notes receivable from participant loans
 
170,373

 
85,917

Total Receivables
 
$
632,604

 
$
482,186

 
 
 
 
 
Total Assets
 
$
12,900,819

 
$
8,774,763

 
 
 
 
 
Net Assets Available for Benefits
 
$
12,900,819

 
$
8,774,763



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, 2019
 
 
 
Additions to net assets:
 
 
Investment Income:
 
 
Interest and dividends
 
$
543,275

Net appreciation in fair value of investments
 
1,634,450

Total investment income
 
2,177,725

 
 
 
Contributions:
 
 
Participant’s Contributions
 
$
835,154

Employer’s Contributions
 
462,231

Rollovers
 
855,583

Total contributions
 
2,152,968

 
 
 
Interest on notes receivable from participants
 
$
5,484

 
 
 
Total additions to net assets
 
$
4,336,177

 
 
 
Deductions from net assets:
 
 
Benefits distributed to participants
 
$
207,530

Administrative expenses
 
2,591

Total deductions from net assets
 
$
210,121

 
 
 
Increase in net assets available for plan benefits
 
$
4,126,056

 
 
 
Net assets available for benefits:
 
 
Beginning of year
 
8,774,763

End of year
 
$
12,900,819



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, 2019



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 2019, this limit was $19,000. 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 2019. 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 2019, the annual maximum employer matching contribution for each eligible participant was $11,200. Participants are immediately vested in their before-tax and Company matching contributions, as well as any investment earnings/losses thereon. During 2019, the Company made matching contributions of $396,269 with respect to eligible employee contributions made during 2018. 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. The Company has not made any non-elective employer contributions during 2018 and 2019.

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, 2019


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, 2019, loans outstanding to participants had interest rates ranging from 4.25% to 6.50% and will mature at various dates through October, 2024.

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, 2019


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, 2019:

Name of Fund
 
Name of Fund
Fidelity 500 Index Fund
 
Fidelity Freedom 2065 Fund
Fidelity Blue Chip Growth Fund
 
Fidelity Freedom Income Fund
Fidelity Emerging Markets Fund
 
Fidelity Global ex U.S. Index Fund
Fidelity Extended Market Index Fund
 
Fidelity Government Money Market Fund
Fidelity Freedom 2005 Fund
 
Fidelity Overseas Fund
Fidelity Freedom 2010 Fund
 
Fidelity Small Cap Growth Fund
Fidelity Freedom 2015 Fund
 
Fidelity Total Bond Fund
Fidelity Freedom 2020 Fund
 
Fidelity U.S. Bond Index Fund
Fidelity Freedom 2025 Fund
 
Fidelity Value Fund
Fidelity Freedom 2030 Fund
 
Goldman Sachs Inflation Protected Securities Fund Investor Shares
Fidelity Freedom 2035 Fund
 
Invesco Diversified Dividend Fund R5 Class
Fidelity Freedom 2040 Fund
 
Janus Henderson Enterprise Fund Class T
Fidelity Freedom 2045 Fund
 
MassMutual Premier Small Cap Opportunities Fund Administrative Class
Fidelity Freedom 2050 Fund
 
MFA Financial, Inc. Common Stock
Fidelity Freedom 2055 Fund
 
MFA Financial, Inc. Preferred Stock
Fidelity Freedom 2060 Fund
 
Wells Fargo Special Small Cap Value Fund - Class Admin


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, 2019, participants in the Plan held 118,911 shares of MFA Financial, Inc. Common Stock valued at $910,709 and 6,784 shares of MFA Financial, Inc. 7.50% Series B Cumulative Redeemable Preferred Stock valued at $176,070. Notes Receivable from Participants, as discussed in Note 1 (Description of the Plan), are also considered to be party-in-interest transactions and totaled $170,373 at December 31, 2019.

        
5

Table of Contents
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2019



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, 2019 that would require recognition or disclosure in these financial statements through June 26, 2020, which is the date these financial statements were available to be issued. Other than the events disclosed below, no such transactions required recognition or disclosure in these financial statements.

The outbreak of the novel coronavirus COVID-19, which was declared a pandemic by the World Health Organization on March 11, 2020, has led to adverse impacts on the U.S. and global economies. Economic uncertainties have arisen, which have resulted in significant volatility in the investment markets, and may continue to impact the value of Plan assets. The duration of these uncertainties and the ultimate financial effects cannot be reasonably estimated at this time.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law.  Among other provisions, this wide-ranging law permits qualified individuals impacted by coronavirus or COVID-19 to take a distribution of up to $100,000 from all eligible retirement plans and IRAs, beginning on or after January 1, 2020 and before December 31, 2020.





        
6

Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2019
(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: 118,911
 
$
910,709

Tesla, Inc.
 
 Common Stock, shares: 400
 
167,332

Alphabet Inc.
 
 Common Stock, shares: 97
 
129,691

Apple Inc.
 
 Common Stock, shares: 420
 
123,545

Datadog, Inc.
 
 Common Stock, shares: 3,000
 
113,340

Facebook, Inc.
 
 Common Stock, shares: 545
 
111,861

Amazon.com, Inc.
 
 Common Stock, shares: 51
 
94,240

Mimecast Limited
 
 Common Stock, shares: 2,000
 
86,760

Microsoft Corporation
 
 Common Stock, shares: 518
 
81,700

PayPal Holdings, Inc.
 
 Common Stock, shares: 700
 
75,719

Salesforce.com, Inc.
 
 Common Stock, shares: 422
 
68,634

Royal Bank of Canada
 
 Common Stock, shares: 859
 
68,111

Verizon Communications Inc.
 
 Common Stock, shares: 1,102
 
67,667

Madison Square Garden Sports Corporation
 
 Common Stock, shares: 200
 
58,838

Advanced Micro Devices, Inc.
 
 Common Stock, shares: 1,062
 
48,703

Palatin Technologies, Inc.
 
 Common Stock, shares: 60,636
 
47,429

PepsiCo, Inc.
 
 Common Stock, shares: 325
 
44,497

Square, Inc.
 
 Common Stock, shares: 615
 
38,474

Fannie Mae
 
 Common Stock, shares: 12,000
 
37,440

Abiomed, Inc.
 
 Common Stock, shares: 200
 
34,118

Alexander’s Inc.
 
 Common Stock, shares: 100
 
33,035

Two Harbors Investment Corp
 
 Common Stock, shares: 2,146
 
31,375

The Walt Disney Company
 
 Common Stock, shares: 207
 
29,999

Spotify Technology S.A.
 
 Common Stock, shares: 200
 
29,910

AG Mortgage Investment Trust
 
 Common Stock, shares: 1,530
 
23,593

Alibaba Group Holding Limited
 
 Common Stock, shares: 100
 
21,210

Callaway Golf Company
 
 Common Stock, shares: 1,000
 
21,200

AT&T Inc.
 
 Common Stock, shares: 500
 
19,540

Owens Corning
 
 Common Stock, shares: 300
 
19,536

Union Pacific Corporation
 
 Common Stock, shares: 106
 
19,183

Barclays Bank PLC
 
 Common Stock, shares: 2,700
 
18,954

Walmart Inc.
 
 Common Stock, shares: 154
 
18,414

Deere & Company
 
 Common Stock, shares: 105
 
18,224

Apollo Commercial Real Estate
 
 Common Stock, shares: 988
 
18,071

Royal Caribbean Cruises Ltd.
 
 Common Stock, shares: 111
 
14,820

Golar LNG
 
 Common Stock, shares: 1,008
 
14,338

Liberty Global
 
 Common Stock, shares: 500
 
10,898

Ellington Residential Mortgage
 
 Common Stock, shares: 1,000
 
10,850

Target Corporation
 
 Common Stock, shares: 75
 
9,616


        
7

Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2019
(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

Occidental Petroleum Corporation
 
 Common Stock, shares: 205
 
8,464

IBM
 
 Common Stock, shares: 60
 
8,042

Dupont de Nemours, Inc.
 
 Common Stock, shares: 120
 
7,704

Exxon Mobil Corporation
 
 Common Stock, shares: 110
 
7,686

Otter Tail Corporation
 
 Common Stock, shares: 148
 
7,591

DXC Technology
 
 Common Stock, shares: 200
 
7,518

Dow Inc.
 
 Common Stock, shares: 120
 
6,568

New Residential Investment Corp
 
 Common Stock, shares: 357
 
5,753

Markel Corporation
 
 Common Stock, shares: 5
 
5,716

CenturyLink, Inc.
 
 Common Stock, shares: 417
 
5,509

Apache Corporation
 
 Common Stock, shares: 214
 
5,483

Joyy, Inc.
 
 Common Stock, shares: 100
 
5,279

Kohls Corp Nfs Llc Is A Special
 
 Common Stock, shares: 102
 
5,233

Anaplan, Inc.
 
 Common Stock, shares: 98
 
5,135

FedEx Corporation
 
 Common Stock, shares: 30
 
4,536

Citigroup Inc.
 
 Common Stock, shares: 51
 
4,111

Nio Inc.
 
 Common Stock, shares: 1,000
 
4,020

Annaly Capital Management Inc.
 
 Common Stock, shares: 419
 
3,947

Corteva, Inc.
 
 Common Stock, shares: 120
 
3,547

Cabot Oil & Gas Corporation
 
 Common Stock, shares: 201
 
3,501

Colony Capital Inc.
 
 Common Stock, shares: 725
 
3,444

ExOne Co.
 
 Common Stock, shares: 400
 
2,984

Universal Display Corporation
 
 Common Stock, shares: 14
 
2,895

AGNC Investment Corporation
 
 Common Stock, shares: 160
 
2,829

Shopify Inc.
 
 Common Stock, shares: 7
 
2,783

Transocean Ltd.
 
 Common Stock, shares: 392
 
2,697

PennyMac Mortgage Investment T
 
 Common Stock, shares: 100
 
2,229

Panasonic Corporation
 
 Common Stock, shares: 200
 
1,895

Cherry Hill Mortgage Investment
 
 Common Stock, shares: 115
 
1,678

Chimera Investment Corporation
 
 Common Stock, shares: 75
 
1,542

Netflix, Inc.
 
 Common Stock, shares: 4
 
1,294

Yext
 
 Common Stock, shares: 52
 
750

Arlington Asset Investment Corp.
 
 Common Stock, shares: 125
 
696

New York Mortgage Trust Inc.
 
 Common Stock, shares: 100
 
623

Capitala Finance Corporation
 
 Common Stock, shares: 40
 
349

Blackstone Group Inc.
 
 Common Stock, shares: 6
 
336

Impac Mortgage Holdings, Inc.
 
 Common Stock, shares: 10
 
52

Seadrill
 
 Common Stock, shares: 3
 
7

Frontier Communications Corporation
 
 Common Stock, shares: 6
 
5

 
 
Sub-Total
 
$
2,936,005

 
 
 
 
 

        
8

Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2019
(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

Chimera Investment Corp Series A
 
 Preferred Stock, shares: 8,532
 
224,989

*MFA Financial, Inc.. Preferred Stock
 
 Preferred Stock, shares: 6,784
 
176,070

Pennymac Mortgage Investment
 
 Preferred Stock, shares: 4,000
 
106,120

Chimera Investment Corp Series B
 
 Preferred Stock, shares: 3,400
 
91,018

Two Harbors Investment Corp Series A
 
 Preferred Stock, shares: 3,000
 
83,250

Two Harbors Investment Corp Series E
 
 Preferred Stock, shares: 3,000
 
75,930

New York Mortgage Trust Series E
 
 Preferred Stock, shares: 3,000
 
75,720

AG Mortgage Investment Trust
 
 Preferred Stock, shares: 2,000
 
50,800

Dynex Capital Inc.
 
 Preferred Stock, shares: 2,000
 
50,600

Two Harbors Investment Corp Series D
 
 Preferred Stock, shares: 1,891
 
47,874

New York Mortgage Trust Series D
 
 Preferred Stock, shares: 1,000
 
25,140

 
 
Sub-Total
 
$
1,007,511

 
 
 
 
 
*Fidelity Freedom 2030 Fund
 
Mutual Funds
 
709,357

*Fidelity 500 Index Fund
 
Mutual Funds
 
685,430

*Fidelity Freedom 2040 Fund
 
Mutual Funds
 
563,082

*Fidelity Freedom 2045 Fund
 
Mutual Funds
 
484,618

*Fidelity Freedom 2050 Fund
 
Mutual Funds
 
451,199

*Fidelity Blue Chip Growth Fund
 
Mutual Funds
 
435,595

*Fidelity Freedom 2020 Fund
 
Mutual Funds
 
279,622

American - The Growth Fund of America Class F
 
Mutual Funds
 
277,392

American New Perspective Fund Class F
 
Mutual Funds
 
276,274

American Funds EuroPacific Growth Class F
 
Mutual Funds
 
247,982

*Fidelity Small Cap Growth Fund
 
Mutual Funds
 
218,194

*Fidelity Freedom 2055 Fund
 
Mutual Funds
 
188,756

*Fidelity Contrafund
 
Mutual Funds
 
168,451

*Fidelity Real Estate Income Fund
 
Mutual Funds
 
122,573

*Fidelity Freedom 2035 Fund
 
Mutual Funds
 
119,241

Allianzgi Mid Cap Value Fund
 
Mutual Funds
 
103,655

Smead Value Fund
 
Mutual Funds
 
103,198

*Fidelity Emerging Markets Fund
 
Mutual Funds
 
100,124

*Fidelity Freedom 2060 Fund
 
Mutual Funds
 
98,669

*Fidelity Extended Market Index Fund
 
Mutual Funds
 
82,839

*Fidelity U.S. Bond Index Fund
 
Mutual Funds
 
82,705

*Fidelity Total Bond Fund
 
Mutual Funds
 
81,677

*Fidelity OTC Portfolio
 
Mutual Funds
 
70,718

*Fidelity Large Cap Growth Enhanced
 
Mutual Funds
 
62,138

*Fidelity Contrafund II
 
Mutual Funds
 
57,518

*Janus Henderson Enterprise Fund Class T
 
Mutual Funds
 
56,015


        
9

Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2019
(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 Freedom 2025 Fund
 
Mutual Funds
 
44,400

Invesco Equally-Weighted S&P 500
 
Mutual Funds
 
43,143

*Fidelity Global ex U.S. Index Fund
 
Mutual Funds
 
41,181

*Fidelity Overseas Fund
 
Mutual Funds
 
37,017

*Fidelity Freedom 2015 Fund
 
Mutual Funds
 
29,682

PIMCO Income Fund
 
Mutual Funds
 
22,800

American - The Growth Fund of America Class A
 
Mutual Funds
 
21,327

American New Perspective Fund Class A
 
Mutual Funds
 
19,241

*Fidelity Value Fund
 
Mutual Funds
 
15,764

American Funds EuroPacific Growth Class A
 
Mutual Funds
 
15,080

*Fidelity Select Software & IT
 
Mutual Funds
 
13,928

*Fidelity Puritan Fund
 
Mutual Funds
 
12,378

*Wells Fargo Special Small Cap Value Fund - Class Admin
 
Mutual Funds
 
10,634

*Invesco Diversified Dividend Fund R5 Class
 
Mutual Funds
 
8,905

*Fidelity Select Electronics
 
Mutual Funds
 
8,124

*Fidelity Techno-Quant Growth
 
Mutual Funds
 
7,821

JPMorgan Income Builder Fund
 
Mutual Funds
 
7,643

AIG Focused Dividend Strategy
 
Mutual Funds
 
7,085

*MassMutual Premier Small Cap Opportunities Fund Administrative Class
 
Mutual Funds
 
6,585

*Fidelity Select Medical Technology
 
Mutual Funds
 
6,062

*Fidelity Select Retailing Port
 
Mutual Funds
 
5,494

*Goldman Sachs Inflation Protected Securities Fund Investor Shares
 
Mutual Funds
 
60

 
 
Sub-Total
 
$
6,511,376

 
 
 
 
 
SPDR Portfolio Total Stock Market
 
Other investments
 
142,795

SPDR S&P 500 ETF Trust
 
Other investments
 
119,088

WisdomTree India Earnings Fund
 
Other investments
 
107,027

Vanguard S&P 500 ETF
 
Other investments
 
66,555

Vanguard Extended Market ETF
 
Other investments
 
62,995

iShares Russell 1000 ETF
 
Other investments
 
62,447

iShares MSCI India Small-Cap ETF
 
Other investments
 
45,284

SPDR Dow Jones Industrial Average ETF
 
Other investments
 
42,765

iShares S&P 500 ETF
 
Other investments
 
33,474

iShares MSCI India ETF
 
Other investments
 
18,123

Vaneck Vectors Oil Services ETF
 
Other investments
 
13,250

iShares MSCI Japan ETF
 
Other investments
 
12,451

Global X Robotics & Artificial Intelligence ETF
 
Other investments
 
10,935

Vaneck Vectors Vietnam ETF
 
Other investments
 
9,594


        
10

Table of Contents
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2019
(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

Vanguard Energy ETF
 
Other investments
 
8,149

Technology Sector SPDR Fund
 
Other investments
 
7,334

iShares MSCI Mexico ETF
 
Other investments
 
773

 
 
Sub-Total
 
$
763,039

 
 
 
 

*Fidelity Cash Reserves
 
Cash and cash equivalents
 
721,628

*Fidelity Government Money Market Fund
 
Cash and cash equivalents
 
328,656

 
 
Sub-Total
 
$
1,050,284

 
 
 
 
 
* Participant Loans
 
Interest Rate 4.25% - 6.50%
Maturity Dates through October, 2024
 
$
170,373

 
 
 
 
 
 
 
Grand Total
 
$
12,438,588

 
 
 
 
 
* Indicates party-in-interest to the Plan.
 
 
 
 
 
 
 
 
 

        
11

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 26, 2020
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
 
 
 
 
 
 
 
 
 
By:
/s/ Stephen D. Yarad
 
 
Stephen D. Yarad
 
 
Member
 
 
MFA Financial, Inc. 401(k) Administration Committee


        
12
(Back To Top)