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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] FOR THE FISCAL YEAR ENDED JUNE 30, 2020, OR
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] for the transition period from _________ to _______________
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below: The Profit Sharing Retirement Plan of The Procter & Gamble Commercial Company, The
Procter & Gamble Company, Two Procter & Gamble Plaza, Cincinnati, Ohio 45202.
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: The Procter & Gamble Company, One Procter & Gamble Plaza, Cincinnati,
Ohio 45202
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Item 4.
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Plan Financial Statements and Schedules Prepared in Accordance with the Financial Reporting Requirements of ERISA.
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EXHIBITS:
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SIGNATURE
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Kyle Scheidler |
Group Manager |
The Profit Sharing Retirement
Plan of The Procter & Gamble
Commercial Company
Employer ID No.: 66-0676831
Plan Number: 001
Financial Statements as of and for the
Years Ended June 30, 2020 and June 30, 2019,
Supplemental Schedule as of June 30, 2020, and
Report of Independent Registered Public Accounting Firm
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TABLE OF CONTENTS | |||
Page | |||
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 1 | ||
FINANCIAL STATEMENTS: | |||
Statements of Net Assets Available for Benefits as of June 30, 2020 and June 30, 2019 | 2 |
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Statements of Changes in Net Assets Available for Benefits for the Years Ended June 30, 2020 and June 30, 2019 | 3 |
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Notes to Financial Statements as of and for the Years Ended June 30, 2020 and June 30, 2019 | 4-8 | ||
SUPPLEMENTAL SCHEDULE - | 9 | ||
Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) as of June 30, 2020 | 10 | ||
NOTE: |
All other schedules required by Section 2520.103-10 of the Department of Labor's Rules
and Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974 have been omitted because they are not applicable.
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THE PROFIT SHARING RETIREMENT PLAN OF
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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AS OF JUNE 30, 2020 AND JUNE 30, 2019
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2020
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2019
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PARTICIPANT-DIRECTED INVESTMENTS — At fair value:
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Cash
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$ 2,914
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$ 12,753
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The Procter & Gamble Company common stock
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26,406,078
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25,030,025
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The J.M. Smucker Company common stock
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143,373
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154,931
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Common collective trust
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41,862
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51,413
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Mutual funds
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49,221,593
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47,256,298
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Total participant-directed investments — at fair value
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75,815,820
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72,505,420
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RECEIVABLES
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Accrued investment income
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9,097
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18,988
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Companies contributions receivable
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582,821
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583,898
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Total receivables
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591,918
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602,886
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NET ASSETS AVAILABLE FOR BENEFITS
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$ 76,407,738
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$ 73,108,306
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See notes to financial statements.
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THE PROFIT SHARING RETIREMENT PLAN OF
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|||
THE PROCTER & GAMBLE COMMERCIAL COMPANY
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STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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FOR THE YEARS ENDED JUNE 30, 2020 AND JUNE 30, 2019
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2020
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2019
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INVESTMENT INCOME:
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Net appreciation in fair value of investments
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$ 3,260,684
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$ 9,723,644
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Dividend income
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1,636,188
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1,727,094
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Interest income
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87,116
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134,302
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Total investment income
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4,983,988
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11,585,040
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COMPANIES’ CONTRIBUTIONS
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582,821
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583,898
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Total additions
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5,566,809
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12,168,938
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DEDUCTIONS:
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Benefits paid to participants
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2,238,480
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5,550,651
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Administrative expenses
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28,897
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30,473
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Total deductions
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2,267,377
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5,581,124
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NET INCREASE IN NET ASSETS
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3,299,432
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6,587,814
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NET ASSETS AVAILABLE FOR BENEFITS:
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Beginning of year
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73,108,306
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66,520,492
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End of year
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$ 76,407,738
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$ 73,108,306
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See notes to financial statements.
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1.
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PLAN DESCRIPTION
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Contribution
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||||||||||
Years of Service
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Percentage
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1–3
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8
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% | ||||||||
4–6
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9
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7–8
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10
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|||||||||
9–10
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11
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11–12
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12
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13–14
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13
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15 or more
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14
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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•
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Required minimum distributions (RMDs) – RMDs were temporarily suspended for 2020.
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3.
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FAIR VALUE MEASUREMENTS
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Fair Value Measurements
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Quoted Prices in Active Markets
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For Identical Assets
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2020 |
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2019 | ||
Cash - Level 1
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$ 2,914
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$ 12,753
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Common stock - Level 1
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26,549,451
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25,184,956
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Mutual Funds - Level 1
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49,221,593
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47,256,298
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Fair Value Sub-total
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75,773,958
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72,454,007
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Investments measured at NAV - Common collective trusts
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41,862
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51,413
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Total
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$ 75,815,820
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$ 72,505,420
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4.
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EXEMPT PARTY-IN-INTEREST TRANSACTIONS
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5.
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PLAN TERMINATION
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6.
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FEDERAL INCOME TAX STATUS
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THE PROFIT SHARING RETIREMENT PLAN OF
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EIN: 66-0676831
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PLAN NUMBER: 001
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FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
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AS OF JUNE 30, 2020
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Identity of Issue
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Description of Investment
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Fair Value
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*
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BANCO POPULAR
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Time Deposit Open Account Variable Rate (0.1000% as of 6/30/2020)
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$ 2,914
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*
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THE NORTHERN TRUST SHORT TERM INV. FUND
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Common Collective Trust
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41,862
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*
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THE PROCTER & GAMBLE COMPANY
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Common stock
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26,406,078
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THE J.M. SMUCKER COMPANY
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Common stock
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143,373
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MUTUAL FUNDS:
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Vanguard
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Treasury Money Market Fund
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6,286,372
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Vanguard
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Institutional Index
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14,613,382
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Vanguard
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Inflation Protected Securities
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1,288,880
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Vanguard
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Balanced Index
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14,419,031
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Vanguard
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Total Bond Index
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4,658,664
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Vanguard
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Small Cap Index
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5,163,092
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Vanguard
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FTSE All-World Ex US Index
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2,792,172
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Total Mutual Funds
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49,221,593
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TOTAL INVESTMENTS
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$ 75,815,820
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*
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Party-in-interest.
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