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
Visa Retirement Plan
Corporate pensionSAN Francisco, CA
Assets
$1.6B
Total assets, Sep 30, 2025 reported
Funded
181.3%
Oct 1, 2024
Private markets target
n/a
policy Sep 30, 2025
Commitments
6
none on the tape
Plan sponsor: Visa Inc.
Allocation policy
Form 5500, as of Sep 30, 2025
Actual allocation lines without a target (as filed)
- Interest-bearing cash 0.6%
- Non-interest-bearing cash 0.2%
- Corporate debt instruments (other) 19.3%
- U.S. Government securities 11.8%
- Insurance company general account 18.2%
- Other investments 0.1%
- Common/collective trusts 25.6%
- Registered investment companies 5.8%
Consultants and advisers
4 firms
- Fidelity Management Pension consultantthrough Sep 30, 2025 Form 5500
- AON Investments USA Inc General consultantthrough Sep 30, 2023 Form 5500
- Willis Towers Watson US LLC Actuarythrough Sep 30, 2023 Form 5500
- Principal Trust Co. Custodianthrough Sep 30, 2023 Form 5500
People
No investment staff or executives have been read for this allocator yet.
Manager roster
1 managers on Schedule C
From Schedule C (investment management, code 28)
- Pacific Investmt Management Co LLCplan years 2023
Commitments
6 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 Sep 30, 2025 | Vftc Instl 500 Index Trustcollective trust | Vanguard Fiduciary Trust Company | Pooled vehicles | $260M held | Disclosed holding | askebsa.dol.gov | |
| as of Sep 30, 2025 | Vftc Instl Extended Market Index Trcollective trust | Vanguard Fiduciary Trust Company | Pooled vehicles | $150M held | Disclosed holding | askebsa.dol.gov | |
| as of Sep 30, 2024 | Vftc Instl 500 Index Trustcollective trust | Vanguard Fiduciary Trust Company | Pooled vehicles | $310M held | Disclosed holding | askebsa.dol.gov | |
| as of Sep 30, 2024 | Vftc Instl Extended Market Index Trcollective trust | Vanguard Fiduciary Trust Company | Pooled vehicles | $129M held | Disclosed holding | askebsa.dol.gov | |
| as of Sep 30, 2023 | Vftc Instl 500 Index Trustcollective trust | Vanguard Fiduciary Trust Company | Pooled vehicles | $231M held | Disclosed holding | askebsa.dol.gov | |
| as of Sep 30, 2023 | Vftc Instl Extended Market Index Trcollective trust | Vanguard Fiduciary Trust Company | Pooled vehicles | $108M held | Disclosed holding | askebsa.dol.gov |
Size and funding
33 readings
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 Sep 30, 2025 | 6,148 | $1.2B | $660M | 181.3% | $1.6B | n/a | n/a | n/a |
| 2023 to Sep 30, 2024 | 6,389 | $1.0B | $631M | 160.1% | $1.6B | n/a | n/a | n/a |
| 2022 to Sep 30, 2023 | 6,596 | $956M | $665M | 143.9% | $1.2B | n/a | n/a | n/a |
Service providers and investment entities as filed (Schedule C and D, latest year first)
- Willis Towers Watson US LLC codes 11 50 $2.0M PY2024
- Pimco codes 28 51 $1.4M PY2024
- AON Investments USA Inc. codes 16 17 51 70 $828,465 PY2024
- Conduent Human Resource Svcs, LLC codes 15 50 $363,874 PY2024
- Principal Trust Company codes 19 21 25 50 62 $266,826 PY2024
- Fidelity Workplace codes 15 17 50 $266,320 PY2024
- Proskauer codes 29 50 $126,417 PY2024
- Morgan, Lewis & Bockius LLP codes 29 50 $120,822 PY2024
- State Street Global Adv Trust Co codes 49 50 $100,000 PY2024
- Visa USA, Inc. codes 14 15 50 $68,746 PY2024
- BDO USA, P.C. codes 10 50 $45,000 PY2024
- Vanguard Instl Ext Market Index Tr Sched. D C $150M PY2024
- Vanguard Instl 500 Index Tr Sched. D C $260M PY2024
- Willis Towers Watson US LLC codes 11 PY2024
- Willis Towers Watson US LLC codes 11 50 $1.7M PY2023
- Pimco codes 28 51 $1.4M PY2023
- Conduent Human Resource Svcs, LLC codes 15 50 $300,210 PY2023
- Principal Trust Company codes 19 21 25 50 72 $242,831 PY2023
- AON Investments USA Inc. codes 16 17 50 70 $132,870 PY2023
- Visa USA, Inc. codes 14 15 50 $84,669 PY2023
- Moss Adams LLP codes 10 50 $52,500 PY2023
- Vanguard Instl 500 Index Tr Sched. D C $310M PY2023
- Vanguard Instl Ext Market Index Tr Sched. D C $129M PY2023
- Willis Towers Watson US LLC codes 11 PY2023
- Pimco codes 28 51 $1.4M PY2022
- Willis Towers Watson US LLC codes 11 50 $1.0M PY2022
- Principal Trust Company codes 19 21 25 50 72 $229,265 PY2022
- Conduent Human Resource Svcs, LLC codes 15 50 $224,040 PY2022
- AON Investments USA Inc. codes 16 17 51 70 $129,000 PY2022
- Visa USA, Inc. codes 14 15 50 $114,739 PY2022
- Moss Adams LLP codes 10 50 $50,000 PY2022
- Vanguard Instl 500 Index Tr Sched. D C $231M PY2022
- Vanguard Instl Ext Market Index Tr Sched. D C $108M PY2022
- Willis Towers Watson US LLC codes 11 PY2022
What changed
5 events
- Dec 31, 2024Consultant changedinferenceFidelity Workplace appears on Visa Retirement Plan's Schedule C as pension consultant (plan year 2024 vs 2023)with Fidelity Managementaskebsa.dol.gov
- Oct 1, 2024Funded status changedVisa Retirement Plan funded ratio 160.1% -> 181.3% (2023-10-01 to 2024-10-01)
- Oct 1, 2024Assets changedVisa Retirement Plan plan assets $1.0B -> $1.2B (+18.5%, 2023-10-01 to 2024-10-01)
- Sep 30, 2024Assets changedVisa Retirement Plan total assets $1.2B -> $1.6B (+34.4%, 2023-09-30 to 2024-09-30)
- Oct 1, 2023Funded status changedVisa Retirement Plan funded ratio 143.9% -> 160.1% (2022-10-01 to 2023-10-01)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 260267673-334
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.