Report of Independent Registered Public Accounting Firm
To the Plan Participants and the Plan Administrator of
The Williams Investment Plus Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of The Williams Investment Plus Plan (the Plan) as of December 31, 2022 and 2021, and the related statement of changes in net assets available for benefits for the year ended December 31, 2022, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2022 and 2021, and the changes in its net assets available for benefits for the year ended December 31, 2022, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Schedule Required by ERISA
The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2022, (referred to as the “supplemental schedule”), has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedule is the responsibility of the Plan’s management. Our audit procedures
1
included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Ernst & Young LLP
We have served as the Plan’s auditor since 1998.
Tulsa, Oklahoma
June 8, 2023
2
THE WILLIAMS INVESTMENT PLUS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 2022 and 2021
2022
2021
Assets:
Investments (at fair value)
$
1,347,456,995
$
1,701,979,822
Notes receivable from participants
21,946,595
20,941,200
Non-interest bearing cash
177,614
341,046
Receivables
1,127,868
299,281
Contribution receivable
15,093,610
12,000,754
Total assets
1,385,802,682
1,735,562,103
Liabilities:
Accrued liabilities
1,952,212
790,511
Total liabilities
1,952,212
790,511
Net assets available for benefits
$
1,383,850,470
$
1,734,771,592
See accompanying notes.
3
THE WILLIAMS INVESTMENT PLUS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year Ended December 31, 2022
Additions (reductions) to net assets:
Contributions:
Participant
$
58,194,373
Employer
52,261,951
Rollovers
9,154,619
Total contributions
119,610,943
Net investment loss:
Net decrease in fair value of investments
(340,881,710)
Dividends
14,743,981
Interest
364,934
Total net investment loss
(325,772,795)
Interest income on notes receivable from participants
1,044,253
Total additions (reductions) to net assets
(205,117,599)
Deductions from net assets:
Withdrawals
143,467,798
Administrative expenses
2,289,569
Dividend distributions
46,156
Total deductions from net assets
145,803,523
Net decrease during the year
(350,921,122)
Net assets available for benefits at beginning of year
1,734,771,592
Net assets available for benefits at end of year
$
1,383,850,470
See accompanying notes.
4
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
Note 1--Description of plan
The information included below regarding The Williams Investment Plus Plan (the “Plan”) provides only a general description of the Plan. Participants should refer to the Plan document, as amended and restated, and Summary Plan Description for a more complete description of the Plan’s provisions.
General
The Plan is a defined contribution plan maintained for the benefit of substantially all employees of The Williams Companies, Inc., and its participating subsidiaries (collectively, “Williams” or “Employer”) as provided in the Plan. A small amount of the Plan is an employee stock ownership plan (“ESOP”) and includes shares of Williams common stock held in the Transtock and Williams Companies Employee Stock Ownership Plan (“WESOP”) Accounts, as defined in the Plan.
The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan is intended to constitute a plan described in Section 404(c) of ERISA and Title 29 of the Code of Federal Regulations Section 2550.404c-1, and the fiduciaries of the Plan may be relieved of liability for any losses that are the direct and necessary result of investment instructions given by a participant or beneficiary.
Administration
The Administrative Committee is the Plan administrator. The Investment Committee has the responsibility to monitor the performance of the trustee, investment funds and investment managers, and select, remove, and replace the trustee, any investment fund and any investment manager. The Benefits Committee has the authority and responsibility to determine whether to override the terms of the Plan which require the availability of common stock issued by The Williams Companies, Inc. The Benefits Committee, in its settlor capacity, may amend the Plan, provided it is a nonmaterial amendment as detailed in the Plan. Fidelity Management Trust Company (“FMTC”) is the trustee and record keeper. Additionally, Fidelity Investments Institutional Operations Company, Inc., provides certain other record keeping services for the Plan.
Contributions
Each eligible participant has contribution accounts consisting primarily of, as applicable, pre-tax, Roth, catchup, rollover, and employer contribution accounts. Certain participants may also have additional contribution accounts, as applicable.
5
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
Each eligible employee participant may contribute from 1 percent to a maximum of 50 percent of their eligible compensation per pay period on a pre-tax and/or Roth basis. The maximum pre-tax and/or Roth contribution percentage for Highly Compensated Employees is subject to periodic adjustment in order to meet discrimination testing requirements and certain annual maximum statutory limits imposed by the Internal Revenue Service (“IRS”). The Employer will contribute an amount equal to 100 percent of each participant’s contribution per pay period up to a maximum of 6 percent of their eligible compensation. In addition, the Plan allows for discretionary Employer contributions. No such discretionary Employer contributions were made in 2022.
Additionally, eligible active employees who are not eligible to receive compensation credits under Williams’ defined benefit pension plan are eligible to receive a 4.5 percent Employer Fixed Annual Contribution made by Williams. The Employer Fixed Annual Contribution is made after the end of each Plan year and included in Contribution receivable on the Statements of Net Assets Available for Benefits. Eligible employees generally must be an active employee at year end to receive this contribution, with exceptions for retirement, disability, death, divestiture, and reduction in force.
The Plan also includes an automatic enrollment feature. Eligible participants who do not make an affirmative election to contribute or an affirmative election not to contribute within 60 days of hire are automatically enrolled in the Plan. If automatically enrolled, 3 percent of the participant’s eligible compensation is withheld on a pre-tax basis and invested in the default investment option designated by the Investment Committee. The participant has the right to change the contribution percentage, elect to discontinue contributions to the Plan, or make investment changes at any time.
Participants may elect to invest in various investment options subject to certain restrictions and provided they allocate their contribution in multiples of 1 percent. Investment options include common/collective trusts, common stocks including common stocks held within separately managed accounts, mutual funds, and a self-directed brokerage fund. A participant may change their investment election at any time. Participants may also exchange or rebalance any investment in their Plan account in accordance with the Plan’s investment provisions.
The Plan does not allow participants’ contributions, including employer and employee contributions, loan payments, and rollovers to be made or invested in shares of Williams common stock. A small amount of Williams common stock continues to be held in the Transtock and WESOP Accounts within the Plan’s Legacy WMB Stock Fund. Dividend payments on Williams common stock not passed through to the participant continue to be reinvested in additional shares of Williams common stock until the participant elects to receive such dividends in cash.
6
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
Vesting
Participants have a nonforfeitable vested interest in the current fair value of the assets purchased with their contributions. Eligible participants become 20 percent vested in the employer contributions made on their behalf after one year of service as defined by the Plan. Such vesting increases an additional 20 percent for each year of service, and participants become 100 percent vested upon five years of service. In addition, a participant may become totally vested in their account by reason of their death, total and permanent disability, attainment of age 65, eligibility to receive early retirement benefits under a pension plan of Williams, reduction in work force, complete discontinuance of employer contributions, or termination or partial termination of the Plan. Upon certain sales of assets or companies, participants that have an involuntary termination of employment as a result of such sale are also 100 percent vested.
Employer contributions that are not vested at the time a participant withdraws from the Plan by reason of termination of employment, other than permanent job elimination or permanent reduction in work force, are used for certain items as specified in the Plan document, including the reduction of future employer contributions and payment of Plan expenses. During 2022, employer contributions were reduced by $1,016,386 from forfeited nonvested accounts.
Distributions and in-service withdrawals
Participants are entitled to receive the vested portion of their account when they cease to be an employee of Williams for any reason including retirement. Upon termination of service, a participant has distribution options available as outlined in the Plan.
Generally, the payment of benefits under the Plan shall be made in cash. However, with respect to amounts held in the Plan’s Legacy WMB Stock Fund, the participant may request payment of benefits under the Plan in common stock held within the fund.
Eligible employee participants may request a partial withdrawal from the Plan of their rollover contribution accounts and a portion, as defined in the Plan document, of their Prior Plans After-Tax Account. Eligible employee participants may make two such withdrawals during any Plan year and are not suspended from participation in the Plan following such a withdrawal. Outstanding loans will reduce the amount available for partial withdrawals.
Eligible participants who have completed two years of service and who are employees may request an additional in-service withdrawal from the Plan. The amount available for this withdrawal is calculated as defined in the Plan, but in no event shall it exceed the vested portion of the participant’s Employer Matching Contribution Account, Employer Cash Contribution Account, and the balance of the After-Tax Account. Outstanding loans will reduce the amount available for additional in-service withdrawals. Upon electing an additional in-service withdrawal, a participant is suspended from participation in the Plan for three months. Only one such withdrawal may be made every 12 months.
7
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
A participant who is at least age 59½ may request a post-59½ withdrawal from the Plan. The withdrawal can include the vested portion of certain of the participant’s employer and employee contribution accounts. Outstanding loans will reduce the amount available for post-59½ withdrawals. Such withdrawal may be requested at any time and does not cause the participant to be suspended from the Plan.
An eligible employee participant who has a balance in a WESOP Account or Transtock Account may withdraw such balance at any time. Such withdrawal does not cause the participant to be suspended from the Plan.
Withdrawals from an eligible employee participant’s Pre-Tax Account and Roth Account before age 59½ may be made if the participant has suffered a financial hardship condition, as defined in the Plan. Such withdrawal does not cause the participant to be suspended from the Plan.
A participant who is under age 59½ and is totally and permanently disabled, as defined in the Plan, may make a withdrawal from the eligible amounts in their Pre-Tax Account and Roth Account or request a full distribution from the Plan.
Participant loans
The Plan permits eligible employee participants to obtain up to two loans from their account balances within specified limitations. Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 reduced by the aggregate of the highest outstanding balances of such loans during the immediately preceding 12-month period, or 50 percent of their vested balance. Loan terms may not exceed 58 months unless the loan is for the purchase of a primary residence, in which case the loan term may not exceed 25 years. Periodic principal and interest payments are reinvested according to the participant’s current investment election on file. The interest rate is equal to the prime rate of interest plus one percentage point or such other rate as the Administrative Committee shall specify. Principal and interest are paid ratably through payroll deductions. If the participant’s employment is terminated, the participant may continue to make principal and interest payments subject to certain limitations. Participants may make additional partial payments of the loan at any time and in such form as required by the record keeper.
Other
Each participant has their own individual account. Contributions and investment earnings are recorded to individual participant accounts. Plan investments are valued daily. The fair value per share of each fund is multiplied by the number of shares of the fund held in the participant’s account to arrive at their account balance.
8
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
Net investment income (loss), including the net change in fair value of investments, on assets held in allocated accounts is applied to the individual participant accounts based on each participant’s account balances.
The ESOP allows for the election of dividend pass-through, which are cash dividends paid directly to participants, for the dividends received on the shares of Williams common stock held within the Plan’s ESOP.
While the Compensation and Management Development Committee of the Williams Board of Directors has not expressed any intent to terminate the Plan, it may do so, in its settlor capacity, at any time. In the event of any Plan termination, assets of the Plan will be distributed in accordance with the Plan document.
Note 2--Summary of significant accounting policies
Basis of accounting
The accompanying financial statements of the Plan are prepared on the accrual basis of accounting. However, benefit payments to participants are recorded when paid.
Notes receivable from participants
Notes receivable from participants are measured at their unpaid principal balance plus any estimated accrued and unpaid interest. If a participant ceases to make loan repayments and the plan administrator deems the participant loan to be a distribution, the participant loan balance is reduced, and a withdrawal is recorded. Thus, no allowance for credit losses is required or recorded.
Use of estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires the Plan’s Administrative Committee to make estimates that affect the amounts reported in the financial statements, accompanying notes, and supplemental schedule. Actual results could differ from those estimates.
Risks and uncertainties
The Plan provides for various investment securities. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility risk. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the Statements of Net Assets Available for Benefits and participants’ account balances.
9
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
Investment valuation and income recognition
The Plan’s investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A discussion of fair value measurements is included in Note 3.
Purchases and sales of securities are recorded on a trade-date basis, which may result in amounts due to or from brokers related to unsettled trades. Dividend income is recorded on the ex-dividend date. Net increase (decrease) in fair value of investments includes the Plan’s gains and losses on investments bought and sold as well as held during the year.
Contributions
Participant contributions are recorded when Williams makes payroll deductions from eligible Plan participants. Employer contributions are accrued in the period in which they become obligations of Williams.
Administrative expenses
Certain administrative expenses of the Plan, including audit and legal fees, are paid by Williams.
Note 3--Fair value measurements
The fair value hierarchy prioritizes the inputs used to measure fair value, giving the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). Fair value balances are classified based on the observability of those inputs. The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
The Plan’s Level 1 investments primarily consist of mutual funds, common stocks, and money market funds that are traded on U.S. exchanges, as well as interest-bearing cash. The Plan’s Level 2 investments primarily consist of common stocks traded on foreign exchanges, certificates of deposit, and government and corporate bonds. The Plan’s Level 3 investments primarily consist of private placement common stocks that are not traded on an exchange.
The fair values of common stocks traded on U.S. exchanges and exchange-traded funds within the self-directed brokerage fund are derived from quoted market prices as of the close of business on the last business day of the Plan year. The fair value of common stocks traded on foreign exchanges are also derived from quoted market prices as of the close of business on an active foreign exchange on the last business day of the Plan year. The valuation requires
10
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
translation of the foreign currency to U.S. dollars, and the foreign exchange rate used in the translation is considered an observable input to the valuation. Shares of money market funds and mutual funds are valued at fair value based on published market prices as of the close of business on the last business day of the Plan year, which represent the net asset values (“NAV”) of the shares held by the Plan. The carrying value of interest-bearing cash approximates fair value because of the short-term nature of this investment. The units of the common/collective trusts are valued at fair value using the NAV practical expedient as determined by the issuer based on the current fair values of the underlying assets of the fund (see Note 4). There have been no significant changes in the preceding valuation methodologies used at December 31, 2022 and 2021.
The valuation methods described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair values. The use of different methodologies or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
The following table sets forth, by level within the fair value hierarchy, the Plan’s assets that are measured at fair value as of December 31, 2022 and 2021, with the exception of the common/collective trusts measured at fair value using the NAV practical expedient. The combined fair value for the common/collective trusts is provided to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Net Assets Available for Benefits.
Level 1
Level 2
Level 3
Total
2022:
Interest-bearing cash
$
3,902,709
$
—
$
—
$
3,902,709
Mutual funds
227,699,257
—
—
227,699,257
Self-directed brokerage fund
87,823,846
3,253,753
—
91,077,599
Common stocks
328,228,850
1,268,895
285,265
329,783,010
Corporate bonds
—
227,893
—
227,893
$
647,654,662
$
4,750,541
$
285,265
652,690,468
Common/collective trusts
694,766,527
Total investments at fair value
$
1,347,456,995
2021:
Interest-bearing cash
$
3,825,101
$
—
$
—
$
3,825,101
Mutual funds
277,986,044
—
—
277,986,044
Self-directed brokerage fund
111,636,945
2,108,606
—
113,745,551
Common stocks
474,824,470
3,590,671
342,256
478,757,397
$
868,272,560
$
5,699,277
$
342,256
874,314,093
Common/collective trusts
827,665,729
Total investments at fair value
$
1,701,979,822
11
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
Note 4--Common/collective trusts
The Plan holds investments in several common/collective trusts that invest primarily in mutual funds, fixed income securities, and international equity securities. These common/collective trusts have no unfunded commitments. Generally, participant-directed redemptions occur daily. In some cases, FMTC may require up to ten days to settle these redemptions. However, FMTC may require additional notice for redemptions directed by a plan sponsor.
Additionally, the Plan holds investments in the Fidelity Managed Income Portfolio II Fund (“MIP II Fund”), a common/collective trust, which is managed by FMTC as trustee (“MIP II Fund Trustee”). Participant-directed withdrawals of MIP II Fund units may be made on any business day. Participant-directed exchanges to another investment option may be made on any business day as long as the exchange is not directed into a competing fund (money market funds or certain other types of fixed income funds). Transferred amounts must be held in a noncompeting investment option for 90 days before subsequent transfers to a competing fund may occur. Withdrawals directed by a plan sponsor must be preceded by 12-months written notice to the MIP II Fund Trustee. The MIP II Fund Trustee may in its discretion complete any such plan-level withdrawals before the expiration of such 12-month period. Additionally, the MIP II Fund Trustee may defer completing a withdrawal directed by a participant or plan sponsor where doing so might adversely affect the MIP II Fund portfolio. The MIP II Fund Trustee shall make the payments available as quickly as cash flows and prudent portfolio management permit.
Note 5--Transactions with parties-in-interest
Certain investments held by the Plan are managed by the trustee. Additionally, certain investments held within the Plan are in Williams common stock. Therefore, these transactions qualify as party-in-interest transactions. These transactions are exempt from the prohibited transaction rules.
Note 6--Tax status and federal income taxes
The Plan has received a determination letter from the IRS dated July 24, 2015, stating that the Plan, as amended, is qualified under Section 401(a) of the Internal Revenue Code (the “Code”) and, therefore, the related trust is exempt from taxation. Subsequent to this determination by the IRS, the Plan has been further amended and restated. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualified status. The Plan administrator has indicated it will take the necessary steps, if any, to maintain the Plan’s compliance with the Code.
Plan management is required by generally accepted accounting principles to evaluate uncertain tax positions taken by the Plan. The financial statement impact of a tax position must be recognized when the position is more likely than not, based on its technical merits, to be
12
THE WILLIAMS INVESTMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2022
sustained upon examination by the IRS. As of December 31, 2022 and 2021, there are no uncertain positions taken or expected to be taken.
Note 7--Differences between financial statements and Form 5500
The following is a reconciliation of Net Assets Available for Benefits per the financial statements to the Form 5500 at December 31:
2022
2021
Net assets available for benefits per the financial statements
$
1,383,850,470
$
1,734,771,592
Amounts allocated to withdrawing participants
(40,000)
—
Net assets available for benefits per the Form 5500
$
1,383,810,470
$
1,734,771,592
The following is a reconciliation of Net decrease during the year per the Statement of Changes in Net Assets Available for Benefits to net income (loss) per the Form 5500 for the year ended December 31, 2022:
Net decrease during the year
$
(350,921,122)
Less: Amounts allocated to withdrawing participants at December 31, 2022
(40,000)
Net loss per Form 5500
$
(350,961,122)
Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit payments that have been processed and approved for payment prior to December 31, but not yet paid as of that date.
Note 8--Subsequent event
On February 14, 2023, Williams acquired 100 percent of MountainWest Pipelines Holding Company (“MountainWest”). MountainWest sponsored a defined contribution plan, MountainWest Pipelines 401(k) Retirement Savings Plan (“MWP 401(k)”). The MWP 401(k) plan was terminated effective February 13, 2023. Former employees of MountainWest became Williams employees eligible for plan participation effective February 14, 2023, and were credited with prior service for vesting purposes under the Plan.
13
SUPPLEMENTAL SCHEDULE
14
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
Common/Collective Trusts
*
Fidelity Managed Income Portfolio II Class 4
89,477,699 shares
$
89,477,699
*
Fidelity Diversified International Commingled Pool
3,165,046 shares
47,159,188
Prudential Core Plus Bond Fund Class 5
177,710 shares
29,672,300
Vanguard Target Retirement Income Trust I
273,487 shares
15,747,394
Vanguard Target Retirement 2020 Trust I
540,764 shares
33,716,614
Vanguard Target Retirement 2025 Trust I
615,519 shares
39,374,779
Vanguard Target Retirement 2030 Trust I
1,859,675 shares
121,883,093
Vanguard Target Retirement 2035 Trust I
578,690 shares
39,495,610
Vanguard Target Retirement 2040 Trust I
1,610,823 shares
115,479,885
Vanguard Target Retirement 2045 Trust I
566,185 shares
41,495,669
Vanguard Target Retirement 2050 Trust I
1,059,696 shares
78,290,340
Vanguard Target Retirement 2055 Trust I
313,595 shares
28,254,930
Vanguard Target Retirement 2060 Trust I
219,177 shares
10,378,052
Vanguard Target Retirement 2065 Trust I
146,798 shares
4,276,237
Vanguard Target Retirement 2070 Trust I
3,647 shares
64,737
694,766,527
Registered Investment Companies
PIMCO Real Return Fund Institutional Class
1,079,110 shares
10,780,304
*
Fidelity U.S. Bond Index Fund
1,090,844 shares
11,104,788
Vanguard Extended Market Index Fund Institutional
269,530 shares
27,179,360
Vanguard Institutional Index Fund Institutional Plus
507,151 shares
163,109,759
Vanguard Total International Stock Index Fund Institutional
131,927 shares
14,699,267
226,873,478
Common Stock
*
The Williams Companies, Inc.
227,247 shares
7,479,510
7,479,510
Investments held in Separately Managed Accounts
Macquarie U.S. Large Cap Value Equity Portfolio:
Interest-bearing Cash:
BROWN BROTHERS HARRIMAN STIF FUND
685,704 shares
685,704
Common Stock:
AMERICAN INTERNATIONAL GROUP
32,900 shares
2,080,596
ARCHER DANIELS MIDLAND CO
22,115 shares
2,053,378
BAXTER INTL INC
37,600 shares
1,916,472
BROADCOM INC
3,600 shares
2,012,868
CIGNA GROUP (THE)
5,868 shares
1,944,303
15
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
CISCO SYSTEMS INC
38,446 shares
1,831,567
COGNIZANT TECH SOLUTIONS CL A
32,614 shares
1,865,195
COMCAST CORP CL A
56,985 shares
1,992,765
CONAGRA BRANDS INC
55,516 shares
2,148,469
CONOCOPHILLIPS
15,481 shares
1,826,758
CVS HEALTH CORP
20,384 shares
1,899,585
DISCOVER FIN SVCS
18,727 shares
1,832,062
DISNEY (WALT) CO
21,034 shares
1,827,434
DOLLAR GENERAL CORP
8,290 shares
2,041,413
DOLLAR TREE INC
13,000 shares
1,838,720
DOVER CORP
13,965 shares
1,891,001
DUPONT DE NEMOURS INC
30,936 shares
2,123,138
EDISON INTL
31,500 shares
2,004,030
EQUITY RESIDENTIAL REIT
30,789 shares
1,816,551
FIDELITY NATL INFORM SVCS INC
21,845 shares
1,482,183
HOLOGIC INC
26,064 shares
1,949,848
HONEYWELL INTL INC
9,656 shares
2,069,281
JOHNSON & JOHNSON
11,818 shares
2,087,650
MERCK & CO INC NEW
19,249 shares
2,135,676
METLIFE INC
27,376 shares
1,981,201
MOTOROLA SOLUTIONS INC
8,200 shares
2,113,222
NORTHROP GRUMMAN CORP
3,993 shares
2,178,621
ORACLE CORP
24,238 shares
1,981,214
RAYTHEON TECHNOLOGIES CORP
21,334 shares
2,153,027
TJX COMPANIES INC NEW
26,400 shares
2,101,440
TRUIST FINL CORP
42,200 shares
1,815,866
US BANCORP DEL
41,500 shares
1,809,815
VERIZON COMMUNICATIONS INC
47,822 shares
1,884,187
LSV U.S. Small/Mid Cap Value Equity Portfolio:
Interest-bearing Cash:
BROWN BROTHERS HARRIMAN STIF FUND
800,005 shares
800,005
Common Stock:
AARON'S CO INC/THE
4,775 shares
57,061
ACUITY BRANDS INC
1,825 shares
302,238
AGCO CORP
4,000 shares
554,760
ALASKA AIR GROUP INC
3,300 shares
141,702
ALLISON TRANSMISSION HLDGS INC
6,500 shares
270,400
AMC NETWORKS INC CL A
3,600 shares
56,412
16
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
AMDOCS LTD
1,900 shares
172,710
AMERICAN ASSETS TRUST INC
5,600 shares
148,400
AMERICAN FINL GROUP INC OHIO
1,500 shares
205,920
AMKOR TECHNOLOGY INC
9,700 shares
232,606
APA CORP
6,900 shares
322,092
APPLE HOSPITALITY REIT INC
10,900 shares
172,002
ARC DOCUMENT SOLUTIONS INC
50,800 shares
148,844
ARCBEST CORP
2,900 shares
203,116
ARMADA HOFFLER PROPERTIES INC
14,004 shares
161,046
ARROW ELECTRONICS INC
4,700 shares
491,479
ATKORE INC
3,800 shares
430,996
AVIAT NETWORKS INC
2,500 shares
77,975
BERRY GLOBAL GROUP INC
4,700 shares
284,021
BLOCK H & R INC
9,400 shares
343,194
BLOOMIN BRANDS INC
6,600 shares
132,792
BORGWARNER INC
4,900 shares
197,225
BRIXMOR PPTY GROUP INC
5,600 shares
126,952
BUNGE LIMITED
2,100 shares
209,517
C N A FINANCIAL CORP
4,600 shares
194,488
CAPRI HOLDINGS LTD
2,200 shares
126,104
CHATHAM LODGING TRUST
9,100 shares
111,657
CHEMOURS CO/ THE
6,800 shares
208,216
CIRRUS LOGIC INC
2,200 shares
163,856
CITIZENS FINANCIAL GROUP INC
6,979 shares
274,763
CITY OFFICE REIT INC
15,100 shares
126,538
CNO FINANCIAL GROUP INC
16,200 shares
370,170
CNX RESOURCES CORP
5,300 shares
89,252
CONAGRA BRANDS INC
5,600 shares
216,720
CORECIVIC INC
8,000 shares
92,480
CRANE HOLDINGS CO
1,000 shares
100,450
CSG SYSTEMS INTL INC
3,300 shares
188,760
CUSTOMERS BANCORP INC
7,500 shares
212,550
DAVITA INC
2,500 shares
186,675
DELUXE CORP
4,300 shares
73,014
DIODES INC
2,200 shares
167,508
DONNELLEY FINANCIAL SOLUTIONS INC
4,500 shares
173,925
EASTMAN CHEMICAL CO
2,200 shares
179,168
ENERGIZER HLDGS INC
4,000 shares
134,200
ENTERTAINMENT PPTYS TR
3,400 shares
128,248
17
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
EQUITABLE HOLDINGS INC
5,700 shares
163,590
EXELIXIS INC
7,500 shares
120,300
F&G ANNUITIES & LIFE INC
258 shares
5,163
FARMERS NATL BANC CORP
9,800 shares
138,376
FEDERAL AGRI MTG NON VTG CL C
170 shares
19,161
FIDELITY NATIONAL FINL INC
3,800 shares
142,956
FINANCIAL INSTITUTIONS INC
6,500 shares
158,340
FIRST AMERICAN FINANCIAL CORP
3,200 shares
167,488
FIRST BUSEY CORP
7,500 shares
185,400
FIRST INTERNET BANCORP
5,400 shares
131,112
FOOT LOCKER INC
4,200 shares
158,718
FRANKLIN STREET PPTYS CORP
13,600 shares
37,128
GOODYEAR TIRE & RUBBER CO
11,600 shares
117,740
GRAPHIC PACKAGING HOLDING CO
5,300 shares
117,925
GRAY TELEVISION INC
1,086 shares
12,152
GREAT SOUTHERN BANCORP INC
2,914 shares
173,354
GUESS INC
7,900 shares
163,451
HANMI FINANCIAL CORPORATION
8,800 shares
217,800
HARLEY-DAVIDSON INC
5,800 shares
241,280
HAVERTY FURNITURE COS INC
8,200 shares
245,180
HAWAIIAN HLDGS INC
5,900 shares
60,534
HERBALIFE NUTRITION LTD
5,000 shares
74,400
HF SINCLAIR CORP
10,300 shares
534,467
HILLENBRAND INC
4,700 shares
200,549
HOPE BANCORP INC
16,800 shares
215,208
HORIZON BANCORP INC INDIANA
8,900 shares
134,212
HOST HOTELS & RESORTS INC
8,100 shares
130,005
HUNTINGTON INGALLS INDUSTRIES INC
600 shares
138,408
HUNTSMAN CORP
9,000 shares
247,320
INDUSTRIAL LOGISTICS PROPERTIES TR
7,587 shares
24,809
INGEVITY CORP
2,169 shares
152,784
INGLES MARKETS INC-CL A
2,600 shares
250,796
INGREDION INC
3,800 shares
372,134
INNOVIVA INC
6,800 shares
90,100
IRON MOUNTAIN INC
2,300 shares
114,655
IRONWOOD PHARMA CL A (PEND)
25,900 shares
320,901
JABIL INC
6,600 shares
450,120
JAZZ PHARMA PLC
2,700 shares
430,137
JEFFERIES FINANCIAL GROUP INC
5,900 shares
202,252
18
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
JOHNSON OUTDOORS INC CL A
2,300 shares
152,076
KELLY SERVICES INC CL A
9,100 shares
153,790
KOHLS CORP
3,800 shares
95,950
KOPPERS HLDGS INC
4,900 shares
138,180
M D C HOLDINGS INC
4,100 shares
129,560
MACYS INC
7,100 shares
146,615
MANPOWERGROUP INC
2,200 shares
183,062
MARATHON OIL CORP
8,600 shares
232,802
MEDICAL PPTY TR INC
22,400 shares
249,536
MGIC INVESTMENT CORP
13,000 shares
169,000
MIDLAND STATES BANCORP INC
7,200 shares
191,664
MODINE MANUFACTURING CO
13,300 shares
264,138
MOLSON COORS BEVERAGE CO B
6,900 shares
355,488
MOOG INC CL A
1,800 shares
157,968
MOSAIC CO NEW
6,100 shares
267,607
MSC INDUSTRIAL DIRECT CO CL A
1,800 shares
147,060
MYERS INDUSTRIES
7,700 shares
171,171
NATIONAL FUEL GAS CO NJ
4,000 shares
253,200
NAVIENT CORP
16,900 shares
278,005
NCR CORP
3,300 shares
77,253
NEW MOUNTAIN FINANCE CORP
11,800 shares
145,966
NEXSTAR MEDIA GROUP INC
1,676 shares
293,350
NRG ENERGY INC
6,900 shares
219,558
O-I GLASS INC
11,900 shares
197,183
ODP CORP/THE
4,170 shares
189,902
OFFICE PROPERTIES INCOME TRUST
7,076 shares
94,465
OFG BANCORP
6,448 shares
177,707
OMEGA HEALTHCARE INVESTORS INC
6,800 shares
190,060
OWENS CORNING INC
3,200 shares
272,960
PARAMOUNT GLOBAL CL B
4,700 shares
79,336
PDC ENERGY INC
3,800 shares
241,224
PENNANTPARK INVESTMENT CORP
33,903 shares
194,942
PENSKE AUTOMOTIVE GROUP INC
3,600 shares
413,748
PIEDMONT OFFICE REALTY TRUST A
13,500 shares
123,795
PLYMOUTH INDL REIT INC
3,500 shares
67,130
PREMIER FINANCIAL CORP
7,600 shares
204,972
PULTEGROUP INC
6,300 shares
286,839
PVH CORP
2,780 shares
196,240
QORVO INC
1,700 shares
154,088
19
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
QUANEX BUILDING PRODUCTS
7,400 shares
175,232
QURATE RETAIL INC
13,600 shares
22,168
RADIAN GROUP INC
9,800 shares
186,886
RBB BANCORP
8,100 shares
168,885
REGIONAL MANAGEMENT CORP
5,400 shares
151,632
REGIONS FINANCIAL CORP
11,100 shares
239,316
REINSURANCE GROUP OF AMERICA
1,400 shares
198,926
RELIANCE STEEL & ALUMINUM CO
1,100 shares
222,684
REV GROUP INC
3,900 shares
49,218
ROCKY BRANDS INC
4,000 shares
94,480
SABRA HEALTHCARE REIT INC
11,900 shares
147,917
SANMINA CORP
4,600 shares
263,534
SELECT MEDICAL HLDGS CORP
11,468 shares
284,751
SFL CORP LTD
16,975 shares
156,510
SILGAN HOLDINGS INC
6,700 shares
347,328
SNAP-ON INCORPORATED
1,000 shares
228,490
SONIC AUTOMOTIVE INC CL A
3,600 shares
177,372
SPROUTS FMRS MKT INC
8,700 shares
281,619
TD SYNNEX CORP
1,313 shares
124,354
TOLL BROTHERS INC
3,600 shares
179,712
TRITON INTERNATIONAL LTD
4,800 shares
330,144
TRONOX HOLDINGS PLC
9,600 shares
131,616
TTM TECHNOLOGIES INC
10,100 shares
152,308
UGI CORP NEW
4,000 shares
148,280
ULTRA CLEAN HOLDINGS INC
4,100 shares
135,915
UNITED AIRLINES HOLDINGS INC
3,400 shares
128,180
UNITED THERAPEUTICS CORP DEL
1,300 shares
361,517
UNITI GROUP INC
19,900 shares
110,047
UNIVERSAL HEALTH SVCS INC CL B
2,100 shares
295,869
UNUM GROUP
7,000 shares
287,210
VILLAGE SUPER MKT INC CL A NEW
5,000 shares
116,450
VISHAY INTERTECHNOLOGY INC
9,200 shares
198,444
VISTA OUTDOOR INC
5,500 shares
134,035
VISTRA CORP
16,300 shares
378,160
VOYA FINANCIAL INC
4,800 shares
295,152
WABASH NATIONAL CORP
7,300 shares
164,980
WEIS MARKETS INC
300 shares
24,687
WESTERN UNION CO
10,400 shares
143,208
WESTROCK CO
7,300 shares
256,668
20
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
WHIRLPOOL CORP
2,000 shares
282,920
WILLIAMS-SONOMA INC
1,300 shares
149,396
WINNEBAGO INDUSTRIES INC
3,100 shares
163,370
WORLD FUEL SERVICES CORP
4,100 shares
112,053
XEROX HOLDINGS CORP
8,825 shares
128,845
ZIONS BANCORP
8,200 shares
403,112
T. Rowe Price U.S. Large-Cap Core Growth Equity Portfolio:
Interest-bearing Cash:
BROWN BROTHERS HARRIMAN STIF FUND
762,335 shares
762,334
Registered Investment Company:
*
T Rowe Price Government Reserve Fund
825,779 shares
825,779
Common Stock:
ADVANCED MICRO DEVICES INC
24,326 shares
1,575,595
ADYEN BV
339 shares
467,538
AFFIRM HOLDINGS INC
8,958 shares
86,624
ALIGN TECHNOLOGY INC
1,020 shares
215,118
ALPHABET INC CL A
19,660 shares
1,734,602
ALPHABET INC CL C
134,749 shares
11,956,279
AMAZON.COM INC
142,847 shares
11,999,148
ANT INTERNATIONAL CO LTD CLASS C PP
121,484 shares
207,738
APPLE INC
133,270 shares
17,315,771
ASML HLDG NV (NY REG SHS) NEW YORK REGIST
4,624 shares
2,526,554
ASTRAZENECA PLC SPONS ADR
11,065 shares
750,207
ATLASSIAN CORP PLC CLS A
5,614 shares
722,410
BILL HOLDINGS INC
6,610 shares
720,226
BLOCK INC CL A
10,803 shares
678,861
CHIPOTLE MEXICAN GRILL INC
1,230 shares
1,706,613
CHUBB LTD
9,649 shares
2,128,569
CINTAS CORP
898 shares
405,555
CONFLUENT INC
9,761 shares
217,085
CROWDSTRIKE HOLDINGS INC
2,378 shares
250,380
DANAHER CORP
11,232 shares
2,981,197
DATABRICKS INC SER G PC PP
1,533 shares
75,439
DATADOG INC CL A
4,282 shares
314,727
DISNEY (WALT) CO
6,617 shares
574,885
DOLLAR GENERAL CORP
8,767 shares
2,158,874
DOORDASH INC
7,205 shares
351,748
ELEVANCE HEALTH INC
2,332 shares
1,196,246
21
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
FORTINET INC
3,830 shares
187,249
GENERAL ELECTRIC CO
8,350 shares
699,647
GOLDMAN SACHS GROUP INC
6,613 shares
2,270,772
HUMANA INC
3,956 shares
2,026,224
INTUIT INC
7,969 shares
3,101,694
INTUITIVE SURGICAL INC
12,438 shares
3,300,423
LAM RESEARCH CORP
711 shares
298,833
LILLY (ELI) & CO
12,069 shares
4,415,323
LINDE PLC
3,518 shares
1,147,501
LULULEMON ATHLETICA INC
4,050 shares
1,297,539
MARSH & MCLENNAN COS INC
7,986 shares
1,321,523
MARVELL TECHNOLOGY INC
16,696 shares
618,420
MASTERCARD INC CL A
16,154 shares
5,617,230
META PLATFORMS INC CL A
24,844 shares
2,989,727
MICROSOFT CORP
97,588 shares
23,403,554
MONGODB INC CL A
4,167 shares
820,232
MONOLITHIC POWER SYS INC
2,799 shares
989,754
MSCI INC
696 shares
323,758
NETFLIX INC
6,397 shares
1,886,347
NIKE INC CL B
14,634 shares
1,712,324
NVIDIA CORP
33,739 shares
4,930,617
OLD DOMINION FREIGHT LINES INC
2,530 shares
717,963
PAYCOM SOFTWARE INC
611 shares
189,599
PAYPAL HLDGS INC
5,434 shares
387,010
ROPER TECHNOLOGIES INC
3,513 shares
1,517,932
ROSS STORES INC
20,693 shares
2,401,837
S&P GLOBAL INC
3,784 shares
1,267,413
SCHWAB CHARLES CORP
20,623 shares
1,717,071
SEA LTD ADR
15,402 shares
801,366
SERVICENOW INC
10,774 shares
4,183,221
SHERWIN WILLIAMS CO
4,604 shares
1,092,667
SHOPIFY INC CL A
21,781 shares
756,018
SHOPIFY INC CL A
650 shares
22,568
SNOWFLAKE INC CL A
2,782 shares
399,328
STRYKER CORP
5,998 shares
1,466,451
SYNOPSYS INC
6,757 shares
2,157,443
T-MOBILE US INC
13,591 shares
1,902,740
TAIWAN SEMIC MFG CO LTD SP ADR
7,932 shares
590,855
TE CONNECTIVITY LTD
3,543 shares
406,736
TELEFLEX INC
1,435 shares
358,219
TENCENT HOLDINGS LTD
18,200 shares
778,789
22
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
TESLA INC
17,095 shares
2,105,762
TEXAS INSTRUMENTS INC
7,539 shares
1,245,594
THE BOOKING HOLDINGS INC
680 shares
1,370,390
THERMO FISHER SCIENTIFIC INC
3,707 shares
2,041,408
TJX COMPANIES INC NEW
5,491 shares
437,084
TRANSUNION
4,000 shares
227,000
UNITEDHEALTH GROUP INC
17,099 shares
9,065,548
VEEVA SYS INC CL A
2,902 shares
468,325
VISA INC CL A
32,569 shares
6,766,535
ZOETIS INC CL A
7,918 shares
1,160,383
Corporate Bonds:
CARVANA CO
Par value of $485,000 10.25% Due 5/1/203
227,893
William Blair U.S. Small/Mid Cap Growth Equity Portfolio:
Interest-bearing Cash:
BROWN BROTHERS HARRIMAN STIF FUND
1,654,666 shares
1,654,666
Common Stock:
ABIOMED INC CVR
2,047 shares
2,088
ACADIA HEALTHCARE CO INC
10,957 shares
901,980
ADVANCED DRAINAGE SYSTEMS INC
6,503 shares
533,051
ALARM.COM HOLDINGS INC
10,196 shares
504,498
AMBARELLA INC
5,594 shares
459,995
ARES MANAGEMENT CORP CL A
8,308 shares
568,599
AXON ENTERPRISE INC
7,681 shares
1,274,508
AZENTA INC
6,622 shares
385,533
BLUEPRINT MEDICINES CORP
4,621 shares
202,446
BRINKS CO
17,008 shares
913,500
BUILDERS FIRSTSOURCE
19,027 shares
1,234,472
BURLINGTON STORES INC
3,199 shares
648,629
BWX TECHNOLOGIES INC
26,173 shares
1,520,128
CAMECO CORP
43,055 shares
976,057
CARLYLE GROUP INC (THE)
13,440 shares
401,050
CASELLA WASTE SYS INC CL A
7,826 shares
620,680
CERTARA INC
23,958 shares
385,005
CF INDUSTRIES HOLDINGS INC
7,049 shares
600,575
CHARLES RIVER LABS INTL INC
2,956 shares
644,112
CHART INDUSTRIES INC
6,742 shares
776,881
CHEMED CORP
2,371 shares
1,210,229
23
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
COGNEX CORP
10,550 shares
497,011
CROWN HOLDINGS INC
12,600 shares
1,035,846
DENBURY INC
6,251 shares
543,962
DYNATRACE INC
21,512 shares
823,910
ENCOMPASS HEALTH CORP
18,501 shares
1,106,545
ENTEGRIS INC
7,543 shares
494,745
EURONET WORLDWIDE INC
10,807 shares
1,019,965
FIRSTSERVICE CORP
4,021 shares
492,774
FOX FACTORY HOLDING CORP
6,873 shares
627,024
FRESHPET INC
6,716 shares
354,403
GENPACT LTD
10,777 shares
499,191
GLOBUS MEDICAL INC
8,167 shares
606,563
GUIDEWIRE SOFTWARE INC
7,679 shares
480,398
HALOZYME THERAPEUTICS INC
15,017 shares
854,467
HEALTHEQUITY INC
14,428 shares
889,342
HEICO CORP CL A
5,164 shares
618,905
INSMED INC
15,456 shares
308,811
INSPIRE MEDICAL SYSTEMS INC
3,730 shares
939,512
INSULET CORP
1,624 shares
478,089
LANCASTER COLONY CORP
4,022 shares
793,541
LESLIE'S INC
48,287 shares
589,584
LINCOLN ELECTRIC HLDGS INC
2,985 shares
431,303
LIVE NATION ENTERTAINMENT INC
6,097 shares
425,205
MARTIN MARIETTA MATERIALS INC
2,703 shares
913,533
MERCURY SYSTEMS INC
21,971 shares
982,983
MERIT MEDICAL SYSTEMS INC
14,289 shares
1,009,089
MKS INSTRUMENTS INC
4,125 shares
349,511
MONGODB INC CL A
2,010 shares
395,648
NATIONAL INSTRUMENT CORP
20,466 shares
755,195
NATIONAL VISION HOLDINGS INC
26,824 shares
1,039,698
NEW FORTRESS ENERGY INC
14,885 shares
631,422
NICE LTD SPON ADR
3,578 shares
688,049
NOVANTA INC
4,903 shares
666,171
PAGERDUTY INC
22,935 shares
609,154
PENUMBRA INC
5,035 shares
1,120,086
PERFORMANCE FOOD GROUP CO
19,682 shares
1,149,232
PLANET FITNESS INC CL A
10,110 shares
796,668
POOL CORP
2,739 shares
828,082
PURE STORAGE INC CL A
18,891 shares
505,523
24
THE WILLIAMS INVESTMENT PLUS PLAN
EIN: 73‑0569878 PLAN: 008
Schedule H, line 4i - Schedule of Assets (held at end of year)
December 31, 2022
(a)
(b) Identity of issue, borrower, lessor, or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(d) Cost**
(e) Current value
REPLIGEN
3,208 shares
543,146
REVOLVE GROUP INC
20,991 shares
467,260
SHOALS TECHNOLOGIES GROUP INC
17,565 shares
433,329
SOLAREDGE TECHNOLOGIES INC
3,120 shares
883,802
TECHNIPFMC PLC
81,738 shares
996,386
TREX CO INC
13,628 shares
576,873
TWIST BIOSCIENCE CORP
8,710 shares
207,385
VARONIS SYSTEMS INC
28,379 shares
679,393
VIRTU FINANCIAL INC- CL A
37,051 shares
756,211
WESTERN ALLIANCE BANCORP
11,207 shares
667,489
WHITECAP RESOURCES INC
96,441 shares
766,706
WILLSCOT MOBILE MINI HOLDINGS CORP
8,809 shares
397,902
WOLFSPEED INC
4,840 shares
334,154
WYNDHAM HOTELS & RESORTS INC
13,954 shares
995,060
327,259,881
*
Self-Directed Brokerage Fund
A self-directed brokerage fund allowing participants to invest in a wide array of securities including but not limited to publicly traded stocks, mutual funds, exchange-traded funds, bonds, certificates of deposit, and money market funds at their discretion.
91,077,599
Investments (at fair value)
1,347,456,995
*
Participant Loans
Loans extended to participants at interest rates of 4.25% to 9.5%
21,946,595
$
1,369,403,590
*Party-in-interest
**Column not applicable for participant-directed investments.
25
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
THE WILLIAMS INVESTMENT PLUS PLAN
(Name of Plan)
/s/Melissa McGillen
Melissa McGillen
Chairman, Administrative Committee
The Williams Companies, Inc.
Date: June 8, 2023
26
EXHIBIT INDEX
Exhibit No.
Description
23
Consent of Independent Registered Public Accounting Firm
