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
WPS Pension Plan
Corporate pensionMonona, WI
Assets
$326M
Total assets, Dec 31, 2025 reported
Funded
84.3%
Jan 1, 2025
Private markets target
n/a
policy Dec 31, 2025
Commitments
4
2 managers on Schedule C
Plan sponsor: WPS Insurance Corporation
Allocation policy
Form 5500, as of Dec 31, 2025
Actual allocation lines without a target (as filed)
- Interest-bearing cash 1.8%
- Corporate debt instruments (other) 42.8%
- U.S. Government securities 23.6%
- Other investments 0.6%
- Common/collective trusts 6.3%
- Registered investment companies 24.1%
Consultants and advisers
4 firms
- Mariner (andco) Investment adviser (plan)through Dec 31, 2025 Form 5500
- Cardinal Investment Advisors Investment adviser (plan)through Dec 31, 2025 Form 5500
- Alliance Pension Consultants, LLC Actuarythrough Dec 31, 2025 Form 5500
- Associated Trust Co Custodianthrough Dec 31, 2025 Form 5500
People
No investment staff or executives have been read for this allocator yet.
Manager roster
2 managers on Schedule C
From Schedule C (investment management, code 28)
- Martingale Asset Management, L.P.plan years 2025
- Bairdplan years 2025
Commitments
4 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, 2025 | Martingle Inv Trust Series Icollective trust | Martingale Investment Trust | Pooled vehicles | $20.4M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | Martingle Inv Trust Series Icollective trust | Martingale Investment Trust | Pooled vehicles | $34.2M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Martingle Inv Trust Series Icollective trust | Martingale Investment Trust | Pooled vehicles | $29.3M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Martingle Inv Trust Series Icollective trust | Martingale Investment Trust | Pooled vehicles | $39.5M held | Disclosed holding | askebsa.dol.gov |
Size and funding
44 readings
Total assets
$317M (2024-12) · $334M (2023-12) · $321M (2022-12)
Funded ratio
93.6% (2024-01) · 89.8% (2023-01) · 106.3% (2022-01)
Funding target
$321M (2024-01) · $325M (2023-01) · $321M (2022-01)
Discount rate
5.11% (2024-01) · 5.24% (2023-01) · 5.41% (2022-01)
Benefits paid
$19.9M (2024-12) · $19.8M (2023-12) · $19.4M (2022-12)
Net investment income
$-15.6M (2024-12) · $12.3M (2023-12) · $-117M (2022-12)
Investment management fees
$680,826 (2024-12) · $641,732 (2023-12) · $566,406 (2022-12)
Form 5500 filings
4 plan years
| Plan year | Participants | Assets (SB market) | Funding target | FTAP | Total assets (H) | Partnerships / JV | Master trust | Real estate |
|---|---|---|---|---|---|---|---|---|
| 2025 to Dec 31, 2025 | 2,965 | $317M | $308M | 84.3% | $326M | n/a | n/a | n/a |
| 2024 to Dec 31, 2024 | 3,014 | $332M | $321M | 93.6% | $317M | n/a | n/a | n/a |
| 2023 to Dec 31, 2023 | 3,062 | $320M | $325M | 89.8% | $334M | n/a | n/a | n/a |
| 2022 to Dec 31, 2022 | 3,097 | $437M | $321M | 106.3% | $321M | n/a | n/a | n/a |
Service providers and investment entities as filed (Schedule C and D, latest year first)
- R.W. Baird & Company codes 28 51 $376,590 PY2025
- Alliance Pension Consultants, LLC codes 11 13 50 $205,187 PY2025
- Martingale Asset Management, L.P. codes 28 51 $78,791 PY2025
- Cardinal Investment Advisors codes 27 50 $70,908 PY2025
- Mariner Institutional LLC codes 27 50 $69,002 PY2025
- Associated Trust Co codes 19 50 $67,529 PY2025
- Series 1 US Low Volatility Large CA Sched. D C $20.4M PY2025
- Alliance Pension Consultants, LLC codes 11 PY2025
- R.W. Baird & Company codes 28 51 $413,166 PY2024
- Alliance Pension Consultants, LLC codes 11 13 50 $248,425 PY2024
- Cardinal Investment Advisors codes 27 50 $145,632 PY2024
- Martingale Asset Management, L.P. codes 28 51 $124,858 PY2024
- Associated Trust Co codes 19 50 $67,436 PY2024
- Series 1 US Low Volatility Large CA Sched. D C $34.2M PY2024
- Alliance Pension Consultants, LLC codes 11 PY2024
- R.W. Baird & Company codes 28 51 $360,641 PY2023
- Alliance Pension Consultants, LLC codes 11 13 50 $205,065 PY2023
- Cardinal Investment Advisors codes 27 50 $145,632 PY2023
- Martingale Asset Management, L.P. codes 28 51 $117,897 PY2023
- Associated Trust Co codes 19 50 $66,325 PY2023
- Series 1 US Low Volatility Large CA Sched. D C $29.3M PY2023
- Alliance Pension Consultants, LLC codes 11 PY2023
- R.W. Baird & Company codes 28 51 $383,513 PY2022
- Alliance Pension Consultants, LLC codes 11 13 50 $206,072 PY2022
- Martingale Asset Management, L.P. codes 28 51 $145,647 PY2022
- Cardinal Investment Advisors codes 27 50 $142,892 PY2022
- Associated Trust Co codes 19 50 $68,165 PY2022
- Series 1 US Low Volatility Large CA Sched. D C $39.5M PY2022
- Alliance Pension Consultants, LLC codes 11 PY2022
What changed
5 events
- Dec 31, 2025Consultant changedinferenceMariner Institutional LLC appears on WPS Pension Plan's Schedule C as investment adviser (plan) (plan year 2025 vs 2024)with Mariner (andco)askebsa.dol.gov
- Jan 1, 2025Funded status changedWPS Pension Plan funded ratio 93.6% -> 84.3% (2024-01-01 to 2025-01-01)
- Jan 1, 2024Funded status changedWPS Pension Plan funded ratio 89.8% -> 93.6% (2023-01-01 to 2024-01-01)
- Jan 1, 2023Funded status changedWPS Pension Plan funded ratio 106.3% -> 89.8% (2022-01-01 to 2023-01-01)
- Jan 1, 2023Assets changedWPS Pension Plan plan assets $437M -> $320M (-26.7%, 2022-01-01 to 2023-01-01)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 391268299-003
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.