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

Hsbc - North America (U.S.) Pension Plan

Corporate pensionChicago, IL
Assets
$3.3B
Total assets, Dec 31, 2024 reported
Funded
120.2%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
12
1 managers on Schedule C
Plan sponsor: Hsbc North America Holdings Inc.
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Interest-bearing cash 12.0%
  • Corporate debt instruments (other) 23.3%
  • U.S. Government securities 35.5%
  • Other investments 15.7%
  • Common/collective trusts 4.7%
  • Registered investment companies 2.3%
  • Common stock 5.0%
  • Preferred stock 0.0%
Consultants and advisers
8 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
2 managers on the commitment tape
From the plan’s own commitment disclosures
From Schedule C (investment management, code 28)
Commitments
12 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$30.4M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Equity Index Non-Lendable Fundcollective trustBlackrock Institutional Trust Company, N.A.Public equity$44.8M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Wtc-Cif II Securitized Opportunitiecollective trustWellington FdPooled vehicles$79.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Coronation Global Emerging Marketscollective trustCoronation Investment Management International (pty) LimitedPublic equity$40.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Equity Index Non-Lendable Fundcollective trustBlackrock Institutional Trust Company, N.A.Public equity$73.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$30.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Wtc-Cif II Securitized Opportunitiecollective trustWellington FdPooled vehicles$101M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Sands Capital Coll Investment Trustcollective trustSEI Trust CompanyPooled vehicles$40.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Coronation Global Emerging Marketscollective trustCoronation Investment Management International (pty) LimitedPublic equity$36.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Equity Index Non-Lendable Fundcollective trustBlackrock Institutional Trust CompaPublic equity$76.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$42.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Wtc-Cif II Securitized Opportunitiecollective trustWellington FdPooled vehicles$98.1M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$3.3B Dec 31, 2024 reported Form 5500
$3.6B (2023-12) · $3.5B (2022-12)
Plan assets
$3.0B Jan 1, 2024 reported Form 5500
$3.0B (2023-01) · $4.0B (2022-01)
Net assets
$2.9B Dec 31, 2024 reported Form 5500
$3.0B (2023-12) · $3.0B (2022-12)
Funded ratio
120.2% Jan 1, 2024 reported Form 5500
118.7% (2023-01) · 143.3% (2022-01)
Funding target
$2.6B Jan 1, 2024 reported Form 5500
$2.6B (2023-01) · $2.6B (2022-01)
Discount rate
5.10% Jan 1, 2024 reported Form 5500
5.23% (2023-01) · 5.40% (2022-01)
Participants
41,639 Jan 1, 2024 reported Form 5500
42,859 (2023-01) · 45,491 (2022-01)
Contributions
$0 Dec 31, 2024 reported Form 5500
$0 (2023-12) · $0 (2022-12)
Benefits paid
$175M Dec 31, 2024 reported Form 5500
$191M (2023-12) · $189M (2022-12)
Net investment income
$-160M Dec 31, 2024 reported Form 5500
$39.0M (2023-12) · $-1.0B (2022-12)
Investment management fees
$3.9M Dec 31, 2024 reported Form 5500
$4.1M (2023-12) · $4.0M (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 202441,639$3.0B$2.6B120.2%$3.3Bn/an/an/a
2023 to Dec 31, 202342,859$3.0B$2.6B118.7%$3.6Bn/an/an/a
2022 to Dec 31, 202245,491$4.0B$2.6B143.3%$3.5Bn/an/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
7 events
  • Dec 31, 2024Holding endedinference
    Hsbc - North America (U.S.) Pension Plan no longer reports Coronation Global Emerging Markets (last held $40M at 2023-12-31; absent from the 2024-12-31 filing)
    with Coronation Global Emerging Marketsaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Blackrock no longer appears on Hsbc - North America (U.S.) Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Blackrock Institutional Trust Co,naaskebsa.dol.gov
  • Dec 31, 2023Holding endedinference
    Hsbc - North America (U.S.) Pension Plan no longer reports Sands Capital Coll Investment Trust (last held $41M at 2022-12-31; absent from the 2023-12-31 filing)
    with Sands Capital Coll Investment Trustaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Blue Bay Asset Management appears on Hsbc - North America (U.S.) Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Blue Bay Asset Managementaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    GQG Partners LLC appears on Hsbc - North America (U.S.) Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with GQG Partners LLCaskebsa.dol.gov
  • Jan 1, 2023Funded status changed
    Hsbc - North America (U.S.) Pension Plan funded ratio 143.3% -> 118.7% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
  • Jan 1, 2023Assets changed
    Hsbc - North America (U.S.) Pension Plan plan assets $4.0B -> $3.0B (-25.6%, 2022-01-01 to 2023-01-01)
    askebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 232186091-001
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.