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
Federated Mutual Retirement Plan
Corporate pensionOwatonna, MN
Assets
$831M
Total assets, Dec 31, 2025 reported
Funded
104.1%
Jan 1, 2025
Private markets target
n/a
policy Dec 31, 2025
Commitments
25
7 managers on Schedule C
Plan sponsor: Federated Mutual Insurance Company
Allocation policy
Form 5500, as of Dec 31, 2025
Actual allocation lines without a target (as filed)
- Corporate debt instruments (other) 21.5%
- U.S. Government securities 6.5%
- Other investments 6.2%
- 103-12 investment entities 12.1%
- Common/collective trusts 18.0%
- Registered investment companies 20.6%
- Common stock 14.8%
Consultants and advisers
2 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
7 managers on Schedule C
From Schedule C (investment management, code 28)
- SIT Investment Associatesplan years 2025
- Mercer Investments LLCplan years 2025
- Speece Thorson Capital Groupplan years 2025
- Nuveen Securities LLCplan years 2025
- SSI Investment Managementplan years 2025
- RBC Globalplan years 2025
- Conningplan years 2025
Commitments
25 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 | Mercer Non-Us Core Equity Portfoliocollective trust | Mercer Trust Company | Public equity | $34.8M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2025 | Peregrine Commingled Investment Trucollective trust | SEI Trust Company | Pooled vehicles | $19.6M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2025 | D F Dent Small Cap Growth Cit Cl 1collective trust | Wilmington Trust, N.A. | Public equity | $9.7M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2025 | Mercer Active Long Corporate Fixedcollective trust | Mercer Trust Company | Fixed income | $85.6M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2025 | Martingle Inv Trust Series I103 12 ie | Martingale Investment Trust Series 1 - US Low Volatility Largecap | Pooled vehicles | $20.9M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2025 | Emerging Free Markets Country Fund103 12 ie | The Emerging (free) Markets Country Fund | Pooled vehicles | $79.7M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | Mercer Non-Us Core Equity Portfoliocollective trust | Mercer Trust Company | Public equity | $25.3M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | Peregrine Commingled Investment Trucollective trust | SEI Trust Company | Pooled vehicles | $24.0M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | D F Dent Small Cap Growth Cit Cl 1collective trust | Wilmington Trust, N.A. | Public equity | $10.0M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | Mercer Active Long Corporate Fixedcollective trust | Mercer Trust Company | Fixed income | $79.7M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | Martingle Inv Trust Series I103 12 ie | Martingale Investment Trust Series 1 - US Low Volatility Largecap | Pooled vehicles | $70.8M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2024 | Emerging Free Markets Country Fund103 12 ie | The Emerging (free) Markets Country Fund | Pooled vehicles | $14.5M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Mercer Non-Us Core Equity Portfoliocollective trust | Mercer Trust Company | Public equity | $23.8M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Peregrine Commingled Investment Trucollective trust | SEI Trust Company | Pooled vehicles | $22.2M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | D F Dent Small Cap Growth Cit Cl 1collective trust | Wilmington Trust, N.A. | Public equity | $8.9M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Ts&w Int'l Large Cap Equity Trustcollective trust | Global Trust Company - Ts&w | Public equity | $34.1M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Mercer Active Long Corporate Fixedcollective trust | Mercer Trust Company | Fixed income | $81.0M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Martingle Inv Trust Series I103 12 ie | Martingale Investment Trust Series 1 - US Low Volatility Largecap | Pooled vehicles | $60.6M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | Emerging Free Markets Country Fund103 12 ie | The Emerging (free) Markets Country Fund | Pooled vehicles | $13.6M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Mercer Non-Us Core Equity Portfoliocollective trust | Mercer Trust Company | Public equity | $20.1M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Peregrine Commingled Investment Trucollective trust | SEI Trust Company | Pooled vehicles | $18.8M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Ts&w Int'l Large Cap Equity Trustcollective trust | Global Trust Company - Ts&w | Public equity | $39.2M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Mercer Active Long Corporate Fixedcollective trust | Mercer Trust Company | Fixed income | $73.2M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Martingle Inv Trust Series I103 12 ie | Martingale Investment Trust Series 1 - US Low Volatility Largecap | Pooled vehicles | $54.0M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | Emerging Free Markets Country Fund103 12 ie | The Emerging (free) Markets Country Fund | Pooled vehicles | $12.5M held | Disclosed holding | askebsa.dol.gov |
Size and funding
44 readings
Total assets
$789M (2024-12) · $759M (2023-12) · $654M (2022-12)
Funded ratio
125.7% (2024-01) · 127.3% (2023-01) · 141.8% (2022-01)
Funding target
$495M (2024-01) · $433M (2023-01) · $490M (2022-01)
Discount rate
5.33% (2024-01) · 5.41% (2023-01) · 5.56% (2022-01)
Contributions
$31,435 (2024-12) · $50.0M (2023-12) · $75.0M (2022-12)
Benefits paid
$25.7M (2024-12) · $31.2M (2023-12) · $188M (2022-12)
Net investment income
$25.8M (2024-12) · $108M (2023-12) · $-323M (2022-12)
Investment management fees
$1.5M (2024-12) · $1.3M (2023-12) · $1.3M (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 | 4,742 | $789M | $541M | 104.1% | $831M | n/a | n/a | n/a |
| 2024 to Dec 31, 2024 | 4,601 | $759M | $495M | 125.7% | $789M | n/a | n/a | n/a |
| 2023 to Dec 31, 2023 | 4,421 | $654M | $433M | 127.3% | $759M | n/a | n/a | n/a |
| 2022 to Dec 31, 2022 | 4,400 | $979M | $490M | 141.8% | $654M | n/a | n/a | n/a |
Service providers and investment entities as filed (Schedule C and D, latest year first)
- Mercer Global Investments codes 51 52 $601,708 PY2025
- SIT Investment Associates codes 28 $380,936 PY2025
- Speece Thorson Capital codes 28 $218,662 PY2025
- Conning codes 28 $192,492 PY2025
- Nuveen Securities LLC codes 28 $177,608 PY2025
- US Bank codes 15 21 33 $91,527 PY2025
- SSI Investment Management codes 28 $37,851 PY2025
- RBC Global codes 28 $13,371 PY2025
- D F Dent Small Cap Growth Cit Cl 1 Sched. D C $9.7M PY2025
- Mercer Act Lng Corp Inv Port Sched. D C $85.6M PY2025
- Martingale Investment Trust Series Sched. D E $20.9M PY2025
- Emerging Free Markets Country Fund Sched. D E $79.7M PY2025
- Mercer Non-Us Core Equity Ct Sched. D C $34.8M PY2025
- Peregrine Commingled Investment Tru Sched. D C $19.6M PY2025
- Mercer codes 11 PY2025
- Mercer Global Investments codes 51 52 $545,088 PY2024
- SIT Investment Associates codes 28 $335,945 PY2024
- Speece Thorson Capital codes 28 $219,381 PY2024
- Nuveen Securities LLC codes 28 $173,145 PY2024
- Conning codes 28 $168,180 PY2024
- US Bank codes 15 21 33 $87,433 PY2024
- SSI Investment Management codes 28 $71,274 PY2024
- RBC Global codes 28 $14,594 PY2024
- Emerging Free Markets Country Fund Sched. D E $14.5M PY2024
- Mercer Non-Us Core Equity Ct Sched. D C $25.3M PY2024
- Peregrine Commingled Investment Tru Sched. D C $24.0M PY2024
- D F Dent Small Cap Growth Cit Cl 1 Sched. D C $10.0M PY2024
- Ts&w International Large Cap Equit Sched. D C PY2024
- Mercer Act Lng Corp Inv Port Sched. D C $79.7M PY2024
- Martingale Investment Trust Series Sched. D E $70.8M PY2024
- Mercer codes 11 PY2024
- Mercer Global Investments codes 51 52 $491,573 PY2023
- SIT Investment Associates codes 28 $292,327 PY2023
- Nuveen Securities LLC codes 28 $212,064 PY2023
- Speece Thorson Capital codes 28 $208,250 PY2023
- Conning codes 28 $151,725 PY2023
- SSI Investment Management codes 28 $64,256 PY2023
- RBC Global codes 28 $14,931 PY2023
- D F Dent Small Cap Growth Cit Cl 1 Sched. D C $8.9M PY2023
- Ts&w International Large Cap Equit Sched. D C $34.1M PY2023
- Mercer Act Lng Corp Inv Port Sched. D C $81.0M PY2023
- Martingale Investment Trust Series Sched. D E $60.6M PY2023
- Emerging Free Markets Country Fund Sched. D E $13.6M PY2023
- Peregrine Commingled Investment Tru Sched. D C $22.2M PY2023
- Mercer Non-Us Core Equity Ct Sched. D C $23.8M PY2023
- Mercer codes 11 PY2023
- Speece Thorson Capital codes 28 $2.2M PY2022
- Mercer Global Investments codes 28 51 $428,616 PY2022
- SIT Investment Associates codes 28 $314,065 PY2022
- Nuveen Securities LLC codes 28 $154,367 PY2022
- Conning codes 28 $113,103 PY2022
- SSI Investment Management codes 28 $69,301 PY2022
- RBC Global codes 28 $19,674 PY2022
- Emerging Free Markets Country Fund Sched. D E $12.5M PY2022
- Mercer Non-Us Core Equity Ct Sched. D C $20.1M PY2022
- Peregrine Commingled Investment Tru Sched. D C $18.8M PY2022
- Harding Loevner Emerging Markets Co Sched. D C PY2022
- Ts&w International Large Cap Equit Sched. D C $39.2M PY2022
- Mercer Act Lng Corp Inv Port Sched. D C $73.2M PY2022
- Martingale Investment Trust Series Sched. D E $54.0M PY2022
- Mercer codes 11 PY2022
What changed
8 events
- Jan 1, 2025Funded status changedFederated Mutual Retirement Plan funded ratio 125.7% -> 104.1% (2024-01-01 to 2025-01-01)
- Dec 31, 2024Holding endedinferenceFederated Mutual Retirement Plan no longer reports Ts&w Int'l Large Cap Equity Trust (last held $34M at 2023-12-31; absent from the 2024-12-31 filing)with Ts&w Int'l Large Cap Equity Trustaskebsa.dol.gov
- Jan 1, 2024Assets changedFederated Mutual Retirement Plan plan assets $654M -> $759M (+16.1%, 2023-01-01 to 2024-01-01)
- Dec 31, 2023Holding startedFederated Mutual Retirement Plan first reports an interest in D F Dent Small Cap Growth Cit Cl 1: $9M at 2023-12-31with D F Dent Small Cap Growth Cit Cl 1askebsa.dol.gov
- Dec 31, 2023Manager relationship endedinferenceMercer Global Investments no longer appears on Federated Mutual Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)with Mercer Investments LLCaskebsa.dol.gov
- Dec 31, 2023Assets changedFederated Mutual Retirement Plan total assets $654M -> $759M (+16.1%, 2022-12-31 to 2023-12-31)
- Jan 1, 2023Funded status changedFederated Mutual Retirement Plan funded ratio 141.8% -> 127.3% (2022-01-01 to 2023-01-01)
- Jan 1, 2023Assets changedFederated Mutual Retirement Plan plan assets $979M -> $654M (-33.2%, 2022-01-01 to 2023-01-01)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 410417460-001
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.