DFX Intelligence
Allocator Intelligence
The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.
Corporate pension
Discover Financial Services Pension Plan
Corporate pensionRiverwoods, IL
Assets
$483M
Total assets, Dec 31, 2024 reported
Funded
92.7%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
16
none on the tape
Plan sponsor: Discover Financial Services
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
- Interest-bearing cash 3.3%
- U.S. Government securities 3.9%
- Common/collective trusts 92.8%
- Registered investment companies 0.0%
Consultants and advisers
2 firms
- Mercer Actuarythrough Dec 31, 2022 Form 5500
- BNY Mellon Trusteethrough Dec 31, 2022 Form 5500
People
No investment staff or executives have been read for this allocator yet.
Manager roster
5 managers on the commitment tape
From the plan’s own commitment disclosures
- Goldman Sachs Trust Company6 rows, latest Dec 31, 2024
- BNY Mellon3 rows, latest Dec 31, 2024
- Prudential Retirement & Annuity Ins2 rows, latest Dec 31, 2023
- State Street Factor Based Nl Ctf.1 rows, latest Dec 31, 2022
- State Street - Russell 20001 rows, latest Dec 31, 2022
From Schedule C (investment management, code 28)
- Goldman Sachs Asset Managementplan years 2022
Commitments
16 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
| Date | Fund | Manager | Bucket | Amount | Vintage | Status | Source |
|---|---|---|---|---|---|---|---|
| as of Dec 31, 2024 | GS Ct Long Duration Credit Fundcollective trust | Goldman Sachs Trust Company | Private credit | $257M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | GS Ct Inter Duration Credit Fundcollective trust | Goldman Sachs Trust Company | Private credit | $175M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | EB Temporary Investmentcollective trust | BNY Mellon | Pooled vehicles | $16.4M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | GS Ct Long Duration Credit Fundcollective trust | Goldman Sachs Trust Company | Private credit | $287M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | GS Ct Inter Duration Credit Fundcollective trust | Goldman Sachs Trust Company | Private credit | $147M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | EB Temporary Investmentcollective trust | BNY Mellon | Pooled vehicles | $41.5M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Large Cap Blend/mfsseparate account | Prudential Retirement & Annuity Ins | Public equity | $12.4M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | GS Ct Long Duration Credit Fundcollective trust | Goldman Sachs Trust Company | Private credit | $117M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | GS Ct Inter Duration Credit Fundcollective trust | Goldman Sachs Trust Company | Private credit | $44.3M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | State Street Msci Wrd in Nl Cm Tr.collective trust | State Street Global Advisors Trust Company | Pooled vehicles | $29.3M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Msci Emerging Markets Index Fundcollective trust | State Street Global Advisors Trust Company | Public equity | $11.4M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Msci Eafe Small Cap Index Non-Lendicollective trust | State Street Global Advisors Trust Company | Public equity | $2.7M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | State Street Factor Based Nl Ctf.collective trust | State Street Factor Based Nl Ctf. | Pooled vehicles | $14.0M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Russell 2000 Index Nl Fundcollective trust | State Street - Russell 2000 | Pooled vehicles | $3.8M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | EB Temporary Investmentcollective trust | BNY Mellon | Pooled vehicles | $28.0M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Large Cap Blend/mfsseparate account | Prudential Retirement & Annuity Ins | Public equity | $10.4M held | Disclosed holding | askebsa.dol.gov |
Size and funding
33 readings
Investment management fees
$877,624 (2023-12) · $864,542 (2022-12)
Form 5500 filings
3 plan years
| Plan year | Participants | Assets (SB market) | Funding target | FTAP | Total assets (H) | Partnerships / JV | Master trust | Real estate |
|---|---|---|---|---|---|---|---|---|
| 2024 to Dec 31, 2024 | 12,035 | $518M | $489M | 92.7% | $483M | n/a | n/a | n/a |
| 2023 to Dec 31, 2023 | 12,167 | $494M | $482M | 94.1% | $518M | n/a | n/a | n/a |
| 2022 to Dec 31, 2022 | 12,295 | $594M | $460M | 119.7% | $497M | n/a | n/a | n/a |
Service providers and investment entities as filed (Schedule C and D, latest year first)
- Goldman Sachs Asset Management, LP codes 28 51 56 $1.2M PY2024
- Alight Solutions LLC codes 15 50 99 $619,173 PY2024
- Mercer Inc. codes 11 16 50 $264,598 PY2024
- BNY Mellon codes 21 50 $119,951 PY2024
- GS Collec Trust Intermedat Duration Sched. D C $175M PY2024
- EB Temporary Investment Fund Sched. D C $16.4M PY2024
- Large Cap Blend Sched. D P PY2024
- GS Collective Trust Long Duraton Cr Sched. D C $257M PY2024
- Mercer codes 11 PY2024
- Goldman Sachs Asset Management, LP codes 28 51 56 $877,624 PY2023
- Alight Solutions LLC codes 15 49 50 $583,177 PY2023
- Mercer Inc. codes 11 16 50 $146,305 PY2023
- BNY Mellon codes 21 50 $105,428 PY2023
- Msci Eafe Small Cap Index Non-Lendi Sched. D C PY2023
- GS Collective Trust Long Duraton Cr Sched. D C $287M PY2023
- GS Collec Trust Intermedat Duration Sched. D C $147M PY2023
- Msci World Index Non-Lending Common Sched. D C PY2023
- Msci Emerging Markets Index Non-Len Sched. D C PY2023
- Factor-Based Non-Lending Common Tru Sched. D C PY2023
- Russell 2000 Index Non-Lending Sched. D C PY2023
- EB Temporary Investment Sched. D C $41.5M PY2023
- Large Cap Blend Sched. D P $12.4M PY2023
- Mercer codes 11 PY2023
- Goldman Sachs Asset Management, LP codes 28 51 56 $864,542 PY2022
- Alight Solutions LLC codes 15 49 50 $564,319 PY2022
- Mercer Inc. codes 11 16 50 $160,789 PY2022
- BNY Mellon codes 21 50 $96,540 PY2022
- Msci Eafe Small Cap Index Non-Lendi Sched. D C $2.7M PY2022
- Factor-Based Non-Lending Common Tru Sched. D C $14.0M PY2022
- Russell 2000 Index Non-Lending Sched. D C $3.8M PY2022
- EB Temporary Investment Sched. D C $28.0M PY2022
- Large Cap Blend Sched. D P $10.4M PY2022
- GS Collective Trust Long Duraton Cr Sched. D C $117M PY2022
- Goldman Sachs Coll Tr Lng Dr Cr Fd Sched. D C $44.3M PY2022
- Msci World Index Non-Lending Common Sched. D C $29.3M PY2022
- Msci Emerging Markets Index Non-Len Sched. D C $11.4M PY2022
- Mercer codes 11 PY2022
What changed
8 events
- Dec 31, 2024Holding endedinferenceDiscover Financial Services Pension Plan no longer reports Large Cap Blend/mfs (Prudential Retirement & Annuity Ins) (last held $12M at 2023-12-31; absent from the 2024-12-31 filing)with Prudential Retirement & Annuity Insaskebsa.dol.gov
- Dec 31, 2023Holding endedinferenceDiscover Financial Services Pension Plan no longer reports Msci Emerging Markets Index Fund (last held $11M at 2022-12-31; absent from the 2023-12-31 filing)with Msci Emerging Markets Index Fundaskebsa.dol.gov
- Dec 31, 2023Holding endedinferenceDiscover Financial Services Pension Plan no longer reports State Street Factor Based Nl Ctf. (State Street Factor Based Nl Ctf.) (last held $14M at 2022-12-31; absent from the 2023-12-31 filing)with State Street Factor Based Nl Ctf.askebsa.dol.gov
- Dec 31, 2023Holding endedinferenceDiscover Financial Services Pension Plan no longer reports Russell 2000 Index Nl Fund (State Street - Russell 2000) (last held $4M at 2022-12-31; absent from the 2023-12-31 filing)with State Street - Russell 2000askebsa.dol.gov
- Dec 31, 2023Holding endedinferenceDiscover Financial Services Pension Plan no longer reports Msci Eafe Small Cap Index Non-Lendi (last held $3M at 2022-12-31; absent from the 2023-12-31 filing)with Msci Eafe Small Cap Index Non-Lendiaskebsa.dol.gov
- Dec 31, 2023Holding endedinferenceDiscover Financial Services Pension Plan no longer reports State Street Msci Wrd in Nl Cm Tr. (last held $29M at 2022-12-31; absent from the 2023-12-31 filing)with State Street Msci Wrd in Nl Cm Tr.askebsa.dol.gov
- Jan 1, 2023Funded status changedDiscover Financial Services Pension Plan funded ratio 119.7% -> 94.1% (2022-01-01 to 2023-01-01)
- Jan 1, 2023Assets changedDiscover Financial Services Pension Plan plan assets $594M -> $494M (-16.9%, 2022-01-01 to 2023-01-01)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 362517428-004
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.