Document
 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
FORM 11-K
(Mark One)

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

For the fiscal year ended December 31, 2016

OR

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

For the transition period from                      to                     

Commission file number 1-02658

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

STEWART 401(k) SAVINGS PLAN
1980 Post Oak Blvd
Houston, TX 77056-3899

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

STEWART INFORMATION SERVICES CORPORATION
Delaware
 
74-1677330
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
1980 Post Oak Blvd., Houston TX
 
77056
(Address of principal executive offices)
 
(Zip Code)
Issuer’s telephone number, including area code: (713) 625-8100



 




REQUIRED INFORMATION

The following financial statements prepared in accordance with the financial reporting requirements of the Employee Retirement Income Security Act of 1974, signature and exhibit are filed for the Stewart 401(k) Savings Plan:

Report of Independent Registered Public Accounting Firm

Financial Statements:

Statements of Net Assets Available for Benefits - December 31, 2016 and 2015
Statement of Changes in Net Assets Available for Benefits - Year Ended December 31, 2016

Notes to Financial Statements - December 31, 2016 and 2015

Supplemental Schedules -

Supplemental Schedule H, Line 4a - Schedule of Delinquent Participant Contributions – December 31, 2016
Supplemental Schedule H, Line 4i - Schedule of Assets (Held at End of Year) – December 31, 2016

Signature

Exhibit 23.1—Consent of Independent Registered Public Accounting Firm
 



STEWART 401(k) SAVINGS PLAN
Table of Contents
 
 
 
 
Page 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedules not listed above are omitted because of the absence of conditions under which they are required under the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.
 




REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Administrative Committee
Stewart 401(k) Savings Plan:

We have audited the accompanying statements of net assets available for benefits of the Stewart 401(k) Savings Plan (the Plan) as of December 31, 2016 and 2015 and the related statement of changes in net assets available for benefits for the year ended December 31, 2016. These financial statements are the responsibility of Plan management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by Plan management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2016 and 2015, and the changes in net assets available for benefits for the year ended December 31, 2016 in conformity with accounting principles generally accepted in the United States of America.

The supplementary information in the accompanying schedules of schedule of assets (held at end of year) and schedule of delinquent participant contributions as of December 31, 2016 have been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplementary information is presented for the purpose of additional analysis and is not a required part of the financial statements but includes supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplementary information is the responsibility of Plan management. Our audit procedures included determining whether the supplementary 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 supplementary information. In forming our opinion on the supplemental information in the accompanying schedules, we evaluated whether the supplementary 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 supplementary information in the accompanying schedules is fairly stated in all material respects in relation to the financial statements as a whole.

/s/ Weaver and Tidwell, LLP
Houston, Texas
June 26, 2017
 
 





STEWART 401(k) SAVINGS PLAN
Statements of Net Assets Available for Benefits
December 31, 2016 and 2015
 
 
2016
 
2015
 
(amounts in US$)
Assets:
 
 
 
Investments:
 
 
 
Investments at fair value
295,815,596

 
279,253,097

Investments at contract value
32,090,397

 
29,295,003

Total investments
327,905,993

 
308,548,100

Noninterest—bearing cash
91

 
1,291

Receivables:
 
 
 
Notes receivable from plan participants
6,775,092

 
6,778,562

Employer and participant contributions
1,887

 
—

Total receivables
6,776,979

 
6,778,562

 
 
 
 
Total net assets available for benefits
334,683,063

 
315,327,953

See accompanying notes to financial statements.
 





STEWART 401(k) SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2016
(amounts in US$)
 
Net additions to net assets:
 
Contributions:
 
Plan participants
24,647,035

Employer
8,618,490

Rollovers
1,989,202

Total contributions
35,254,727

 
 
Net investment income:
 
Net appreciation of investments
17,881,880

Dividends, capital gains and interest
10,265,432

Net investment income
28,147,312

 
 
Interest on notes receivable from plan participants
276,422

 
 
Total additions to net assets
63,678,461

 
 
Deductions from net assets:
 
Benefits paid to participants
43,895,626

Administrative expenses
427,725

Total deductions from net assets
44,323,351

 
 
Net increase in net assets available for benefits
19,355,110

 
 
Net assets available for benefits:
 
Beginning of year
315,327,953

End of year
334,683,063

See accompanying notes to financial statements.




STEWART 401(k) SAVINGS PLAN
Notes to Financial Statements
December 31, 2016 and 2015
 
NOTE 1 - DESCRIPTION OF THE PLAN

The Stewart 401(k) Savings Plan (the Plan) is a defined contribution plan adopted effective January 1, 1986 and sponsored by Stewart Title Guaranty Company (STG). STG is a wholly owned subsidiary of Stewart Information Services Corporation (SISCO). The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

The Plan is administered by STG (the Plan Administrator) and an administrative committee of executives (the Administrative Committee) has been appointed by the Board of Directors of STG to assist with the responsibility for overseeing the operation of the Plan, including the monitoring of the investment trustee and record keeper. During 2016 and 2015, the Plan's investment trustee and record keeper was Charles Schwab Bank and Schwab Retirement Plan Services, Inc. (Schwab).

The following description of the Plan presented below provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions.

A. Employee participation. The Plan is made available to eligible employees of STG and its affiliates (collectively, the Company). All eligible employees, as defined by the Plan, are eligible to participate in the Plan immediately upon hire.

B. Contributions. Plan participants may defer up to 50% of considered compensation into the Plan, subject to certain limitations under the Internal Revenue Code (IRC). A participant may make deferrals on a pretax basis (401(k) contributions) or after-tax basis (Roth 401(k) contributions), or a combination of both, which will be accounted for in separate accounts. Highly compensated participants may be required to reduce the amount of contributions made in order to permit the Plan to satisfy the nondiscrimination requirements of Sections 401(k) and (m) of the IRC. Participants may designate the extent to which such reductions are made from pretax or after-tax accounts, subject to certain limitations. As of December 31, 2016, there were no excess contribution refunds due to Plan participants.

The Plan includes an automatic enrollment feature of 3% of the participant’s eligible compensation unless elected otherwise. Participants who are age 50 or older before the close of the Plan year may elect to make a catch-up contribution, subject to certain limitations under the IRC.

The Company’s matching contribution is equal to fifty cents for each one dollar of considered compensation contributed up to a maximum of 6% of each participant’s considered compensation (pretax and after-tax), subject to a maximum defined by the Plan. The Company may utilize available forfeitures to offset matching contributions to the Plan.

The Plan allows for a Company discretionary contribution as determined annually by STG’s Board of Directors. The discretionary contribution, if any, shall be calculated quarterly or annually, as elected and allocated equally to all eligible participants, in accordance with the Plan’s provisions. The Company may utilize available forfeitures to offset discretionary contributions to the Plan. For the Plan year ended December 31, 2016, the Company did not make a discretionary contribution to the Plan. 

Employees are permitted to rollover pretax or after-tax amounts with earnings held in other qualified plans or conduit individual retirement accounts (IRAs) into the Plan, subject to the provisions in the Plan document.

C. Participant accounts. Each participant’s account is credited with the elected deferral amount and allocations of (a) the Company’s employer matching contribution, (b) the Company’s discretionary contribution, if any, and (c) Plan earnings, and charged with an allocation of administrative expenses. Net investment income (loss) is allocated to each participant’s accounts daily based on the proportion that each participant’s account balance bears to the participant account balances in each investment fund.





D. Vesting. Participants are vested immediately in their contributions plus actual earnings thereon. Vesting in the Company’s matching and discretionary contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after three years of service.

E. Investment options. Employees may elect to have their contributions allocated among various investment options offered by the Plan. As of December 31, 2016 and 2015, the Plan offers mutual funds (including target date funds), a stable value fund, and the SISCO stock fund as investment options. Certain limitations apply under the Plan.

The SISCO stock fund is invested primarily in SISCO common stock. The remaining portion of the fund is invested in the State Street (SSgA) Government Money Market Fund, a common collective trust fund, which is not available as an investment option in the Plan. Schwab, as the investment trustee, is entitled to exercise voting rights attributable to SISCO common stock allocated to accounts of participants and beneficiaries in accordance with the Plan.

F. Payment of benefits. Participants in the Plan prior to January 1, 1989, are eligible to receive payment of the total account balance upon normal retirement at age 65, death, disability or other termination of employment. Participants in the Plan on or after January 1, 1989 are eligible to receive payment of the total account balance upon normal retirement at age 65, death or disability or other termination of employment. Participants who have attained age 59 1/2 may elect to withdraw all or a portion of their vested accounts while they are still employed by the Company in the form of an in-service distribution. The Plan also provides for a hardship withdrawal of all or any portion of a participant’s vested accounts, subject to the provisions of the Plan.
 
Distributions may be paid in a lump sum or in installments, subject to the provisions of the Plan, including taxation. Participants with account balances greater than $5,000 may defer receipt of their distributions until they are required by law to receive minimum required distributions. If the participants’ vested account balance is $5,000 or less, payment must be made in a lump-sum distribution. Direct rollovers from the Plan to an IRA or other qualified plan are permitted for pretax and after-tax accounts, subject to certain limitations.  

G. Forfeited accounts. As of December 31, 2016 and 2015, forfeited non-vested accounts totaled $187,022 and $279,073, respectively. These accounts may be used to pay Plan administrative expenses or may be used to offset future Company matching or discretionary contributions as determined allowable under the provisions of the Plan. During 2016, forfeitures used to reduce plan administrative expenses and employer contributions totaled $370,914.

H. Notes receivable from plan participants. A participant may borrow a minimum of $1,000 up to a maximum amount equal to the lesser of $50,000 or 50% of the vested account balance, subject to the Plan’s provisions. The terms of the loan include interest at a commercially reasonable rate similar to the prime interest rate, as set quarterly by the Administrative Committee. Such earnings are shown as interest on notes receivable from Plan participants in the statement of changes in net assets available for benefits.


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. Basis of accounting. The accompanying financial statements of the Plan have been prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (US GAAP). Benefits are recorded when paid to participants.

B. Use of estimates. The preparation of financial statements in conformity with US GAAP requires the Plan’s management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

C. Investment valuation and income recognition. Investments held by the Plan are reported at fair value, with the exception of the stable value fund which is reported at contract value (see Note 3). 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 (see Note 4 for discussion of fair value measurements). Contract value reflects the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan and is the relevant measure for the portion of assets attributable to fully benefit-responsive investment contracts such as the stable value fund.




Purchases and sales of securities are recorded on a trade-date basis. In the statement of changes in net assets available for benefits, interest income is recorded as earned on the accrual basis and dividend and capital gain income is recorded on the ex-dividend date. Realized gains (losses) on investments sold during the year and unrealized appreciation (depreciation) of investments held at year end are combined and presented as net appreciation (depreciation) of investments. Certain other investment income is recorded and shown offset by related investment expenses.

D. Notes receivable from participants. Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on an accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2016 or 2015. If a participant ceases to make loan repayments, such loans are considered delinquent loans, or delinquent participant notes receivable, as specified in the Plan. Delinquent participant notes receivable are reclassified as distributions based upon the terms of the plan document. 

E. Risks and uncertainties. The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, credit and overall market volatility. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the value of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statement of net assets available for benefits.

F. Expenses. Certain expenses of maintaining the Plan are paid directly by the Company and are excluded from these financial statements or are paid from available forfeitures, as determined allowable under the provisions of the Plan. Fees related to the administration of notes receivable from participants are charged directly to the participant's account and are included in administrative expenses. Investment-related expenses are included in net appreciation of fair value of investments.

G. Recently adopted accounting pronouncements. In May 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. (ASU) 2015-07, Disclosure for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent), which impacts reporting entities that elect to measure an investment's fair value using the net asset value per share (or its equivalent) practical expedient. ASU 2015-07 eliminates the requirement to categorize within the fair value hierarchy all investments measured using the practical expedient. The ASU also removes the requirement to make certain disclosures for all investments eligible to be assessed at fair value using the net asset value per share practical expedient. Instead, such disclosures are limited only to investments that the entity has elected to measure using the practical expedient. Effective January 1, 2016, the Plan adopted ASU 2015-07 and retrospectively applied the adoption in Note 4 - Fair Value Measurements.

In July 2015, the FASB issued ASU 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient. The amendments in the ASU, among others, (i) eliminate the requirements to measure the fair value of fully benefit-responsive investment contracts and provide certain disclosures, and provide the contract value as the only required measure for fully benefit-responsive investment contracts; and (ii) eliminate the requirements to disclose individual investments that represent 5% or more of net assets available for benefits and the net appreciation or depreciation in fair value of investments by general type, and simplify the level of disaggregation of investments that are measured using fair value by permitting disaggregation by general type, instead of by investment nature, characteristics and risks. Effective January 1, 2016, the Plan adopted ASU 2015-12 and retrospectively applied the applicable requirements in the Plan's financial statements. The adoption did not have a material effect on the Plan's net asset available for benefits and changes in net assets available for benefits for all periods presented in the financial statements.

H. Reclassifications. Certain reclassifications have been made to the 2015 financial statements to conform to the 2016 financial statement presentation. These reclassifications had no effect on changes in net assets available for benefits.






NOTE 3 - STABLE VALUE FUND

During 2016 and 2015, the Plan held an interest in the New York Life Anchor Account (SVF), a stable value fund that is a pooled account with New York Life Insurance Company (New York Life), made available to participating plans through a group annuity contract. Contributions to the SVF are directed to a New York Life pooled separate account that invests primarily in a diversified portfolio of high-quality, fixed income securities, which are owned by New York Life. The SVF is credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The investment contract issuer, New York Life, is contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan.

The SVF is a fully benefit-responsive investment contract and is reported at contract value in the statements of net assets available for benefits. The statement of changes in net assets available for benefits is also prepared on a contract value basis. Benefit responsiveness is defined as the extent to which a contract’s terms and the Plan permit or require participant-initiated withdrawals at contract value. Contract value is the relevant measure for fully benefit-responsive investment contracts because this is the amount received by participants if they were to initiate permitted transactions under the terms of the Plan. Contract value, as reported to the Plan by New York Life represents contributions made under each contract, plus earnings, less participant withdrawals and administrative expenses.

Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investments at contract value. There are no reserves against contract value for credit risk of the contract issuer or otherwise. Certain events limit the ability of the Plan to transact at contract value with the issuer of the SVF. However, the Plan Administrator is not aware of the occurrence or likely occurrence of any such events, which would limit the Plan’s ability to transact at contract value with participants.

The crediting interest rate for the SVF is reset daily by the issuer but cannot be less than zero. The crediting interest rate is based upon a formula and is a function of timing of the cash flow activity, overall interest rates, the reinvestment of maturing proceeds and the impact of credit losses and impairments.


NOTE 4 - FAIR VALUE MEASUREMENTS

The FASB Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures (ASC 820), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs when possible. The three levels of inputs used to measure fair value are as follows:
 
•
Level 1 – quoted prices in active markets for identical assets or liabilities;
•
Level 2 – observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and
•
Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2016 and 2015.

•
Mutual funds: Valued at the daily closing price reported on the active markets on which the funds are traded. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (NAV), as reported by the fund, and to transact at that price.





•
Common stock: Valued at the closing price reported on the active market on which the individual securities are traded.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The Plan’s policy is to disclose transfers between levels based on valuations at the end of the reporting period. There were no transfers between levels during the year ended December 31, 2016.

The following table sets forth by level, within the ASC 820 fair value hierarchy, the Plan’s investments at fair value as of December 31, 2016 (in US$):  
 
Level 1
Level 2
Level 3
Total Fair Value
Investment in the fair value hierarchy:
 
 
 
 
Common stock fund
13,171,441

—

—

13,171,441

Mutual funds
282,644,155

—

—

282,644,155

 
 
 
 
 
Total investments at fair value
295,815,596

—

—

295,815,596


The following table sets forth by level, within the ASC 820 fair value hierarchy, the Plan’s investments at fair value as of December 31, 2015 (in US$):  
 
Level 1
Level 2
Level 3
Total Fair Value
Investment in the fair value hierarchy:
 
 
 
 
Common stock fund
10,828,921

—

—

10,828,921

Mutual funds
268,424,176

—

—

268,424,176

 
 
 
 
 
Total investments at fair value
279,253,097

—

—

279,253,097



NOTE 5 - PLAN TERMINATION

The Plan Administrator has the right under the Plan to discontinue contributions at any time and to terminate the Plan subject to the provisions of ERISA. The Plan Administrator has expressed no intent to terminate the Plan. In the event of Plan termination, the net assets would be allocated among the participants and beneficiaries of the Plan in accordance with the provisions of the Plan.


NOTE 6 - RELATED-PARTY TRANSACTIONS AND PARTY IN INTEREST TRANSACTIONS

Certain Plan investments held are shares of mutual funds managed by the trustee of the Plan. Fees paid by the Plan for investment management were included as a reduction of the return earned on each fund and are included in the net appreciation of investments reported in the statement of changes in net assets available for benefits. Certain Plan investments held are shares of SISCO common stock. Transactions with the trustee, the Plan and SISCO may be party-in-interest transactions and may be covered by an exemption from the prohibited transaction provisions of ERISA and the IRC.
 




NOTE 7 - TAX STATUS

Effective January 1, 2016, the Plan adopted a nonstandardized prototype defined contribution profit sharing plan with the IRC Section 401(k) Cash or Deferred Arrangement (CODA) which received a favorable opinion letter from the Internal Revenue Service (IRS) dated June 19, 2014. Although the Plan has been amended since receiving the determination letter, the Plan Administrator believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. Therefore, the Plan is considered as a qualified plan and the related trust is tax-exempt.

US GAAP requires that the Plan’s management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2016, there are no uncertain positions taken or expected to be taken that would require recognition or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress for the Plan. The Plan Administrator believes it is no longer subject to income tax examinations for years prior to 2013.


NOTE 8 - RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

The following are reconciliations of the net assets available for benefits and the changes in net assets available for benefits per the financial statements at December 31, 2016 to Form 5500 (in US$).
 
December 31, 2016
Net assets available for benefits per the financial statements
334,683,063

Adjustment to employer contribution receivable
200,165

Net assets available for benefits per Form 5500
334,883,228

 
 
Net increase in net assets available for benefits
19,355,110

Adjustment to employer contributions during the year
200,165

Increase in net assets available for benefits per Form 5500
19,555,275


There were no differences between the financial statements and the Form 5500 for the year ended December 31, 2015.





 


 





STEWART 401(k) SAVINGS PLAN
Schedule H, Line 4a - Schedule of Delinquent Participant Contributions
EIN: 74-0924290 Plan Number: 002
December 31, 2016
 
 
 
Participant Contributions Transferred Late to Plan
 
Total that Constitutes Nonexempt Prohibited Transactions
 
 
Year
 
Check here if late participant loan payments are included: þ
 
Contributions Not Corrected
Contributions Corrected Outside VFCP
Contributions Pending Correction in VFCP
 
Total Fully Corrected Under VFCP and PTE 2002-51
 
 
 
 
 
 
 
 
 
2016
 
$
1,015

 
$
—

$
1,015

$
—

 
$
—



See accompanying report of independent registered public accounting firm.





STEWART 401(k) SAVINGS PLAN
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
EIN: 74-0924290 Plan Number: 002
December 31, 2016
 
Party-in -interest
Identity of issuer, borrower, lessor or similar party
Description of investment including maturity date, rate of interest, collateral, par or maturity value
Current
value **
(in US$)
 
Investments:
 
 
   
New York Life
Stable Value Fund
32,090,397

   
JPMorgan Funds
SmartRetirement Income
7,497,106

   
JPMorgan Funds
SmartRetirement 2015
1,235,582

   
JPMorgan Funds
SmartRetirement 2020
23,514,248

   
JPMorgan Funds
SmartRetirement 2025
4,070,857

   
JPMorgan Funds
SmartRetirement 2030
20,261,545

   
JPMorgan Funds
SmartRetirement 2035
2,667,674

   
JPMorgan Funds
SmartRetirement 2040
13,178,222

   
JPMorgan Funds
SmartRetirement 2045
1,587,573

 
JPMorgan Funds
SmartRetirement 2050
4,976,839

 
JPMorgan Funds
SmartRetirement 2055
597,758

 
Invesco AIM Investment Services, Inc.
Small Cap Growth Fund
11,171,113

 
Dodge & Cox Funds
Stock Fund
36,490,670

 
Eagle Funds
Eagle Mid Cap Growth Fund
2,054,755

 
Goldman Sachs Funds
Small Cap Value Fund
15,499,947

 
American Funds
Europacific Growth Fund
3,211,348

 
T Rowe Price
New America Growth Fund
18,729,701

 
Fidelity Investments
Advisor Spartan International Fund – Class I
15,902,769

 
Metropolitan West Funds
Metropolitan West TTL Return Bond
3,815,513

 
MFS Series Trust Funds
MFS Mid Cap Value
1,745,047

 
Vanguard
Extended Market Index
17,677,696

 
Vanguard
Institutional Index
47,777,521

 
Vanguard
Short-term Grade Ins
8,532,349

 
Vanguard
Bond Market Index
20,448,322

*
Stewart Information Services Corporation
Common Stock
13,171,441

 
Total investments
 
327,905,993

*
Cash
 
91

*
Notes receivables from plan participants
Interest rates from 3.25% to 9.00%
6,775,092

 
 
 
334,681,176


* A party-in-interest as defined by ERISA.
** Cost information is not required as these assets are participant-directed.

See accompanying report of independent registered public accounting firm.




SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee of the Stewart 401(k) Savings Plan has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

June 26, 2017
Date
By:
 
/s/ Ann Manal
 
 
Ann Manal, Chief Human Resources Officer and Chairman - Administrative Committee of the Stewart 401(k) Savings Plan





EXHIBIT INDEX
 
Exhibit
No. 
Description
 
 
 
23.1
Consent of Weaver and Tidwell, LLP to the incorporation by reference into the Registration Statement (File No. 333-196389) on Form S-8 of Stewart Information Services Corporation of its report, dated June 26, 2017, with respect to the audited financial statements of the Stewart 401(k) Savings Plan as of December 31, 2016.