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
DOW Employees' Pension Plan
Corporate pensionMidland, MI
Assets
$11B
Total assets, Dec 31, 2024 reported
Funded
91.3%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
3
none on the tape
Plan sponsor: The Dow Chemical Company
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
- Interest-bearing cash 1.7%
- Non-interest-bearing cash 2.9%
- Corporate debt instruments (other) 10.4%
- Corporate debt instruments (preferred) 0.4%
- U.S. Government securities 6.3%
- Partnership/joint venture interests 27.3%
- Common/collective trusts 3.2%
- Master trust investment accounts 43.7%
- Registered investment companies 0.7%
- Common stock 1.9%
- Preferred stock 0.0%
- Real estate (other than employer real property) 0.9%
Consultants and advisers
9 firms
- Evestment Alliance, LLC General consultantthrough Dec 31, 2022 Form 5500
- Adenza, Inc. General consultantthrough Dec 31, 2022 Form 5500
- T Rowe Price Associates Inc Investment adviser (plan)through Dec 31, 2022 Form 5500
- Burgiss Group LLC Investment adviser (plan)through Dec 31, 2022 Form 5500
- Qdro Consultants CO.LLC Pension consultantthrough Dec 31, 2022 Form 5500
- Northern Trust Co. Trusteethrough Dec 31, 2022 Form 5500
- Blackrock Institutional Trust Co,na Trusteethrough Dec 31, 2022 Form 5500
- State Street Global Advisors Custodianthrough Dec 31, 2022 Form 5500
- Willis Towers Watson US LLC Actuarythrough Dec 31, 2022 Form 5500
People
No investment staff or executives have been read for this allocator yet.
Manager roster
1 managers on the commitment tape
From the plan’s own commitment disclosures
- Northern Trust Collective Eafe Inde3 rows, latest Dec 31, 2024
From Schedule C (investment management, code 28)
- Pacific Investmt Management Co LLCplan years 2023
- T Rowe Price Associates Incplan years 2023
- Mcube Investment Technologies LLCplan years 2022
- Ramirez Asset Managementplan years 2022
- Nisa Investment Advisors, LLCplan years 2022
- Insight North America LLCplan years 2022
- Alphaengine Global Investmentplan years 2022
- Neuberger Bermanplan years 2022
- Goldman Sachs Asset Managementplan years 2022
Commitments
3 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 | NT Collective Short Term Investmentcollective trust | Northern Trust Collective Eafe Inde | Cash | $352M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2023 | NT Collective Short Term Investmentcollective trust | Northern Trust Collective Eafe Inde | Cash | $528M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2022 | NT Collective Short Term Investmentcollective trust | Northern Trust Collective Eafe Inde | Cash | $582M 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 Dec 31, 2024 | 32,244 | $11B | $12B | 91.3% | $11B | $3.0B | $4.8B | $95.0M |
| 2023 to Dec 31, 2023 | 47,910 | $13B | $13B | 94.6% | $12B | $2.9B | $4.9B | $152M |
| 2022 to Dec 31, 2022 | 52,545 | $17B | $14B | 101.3% | $13B | $3.0B | $5.7B | $173M |
Service providers and investment entities as filed (Schedule C and D, latest year first)
- Willis Towers Watson codes 11 14 17 50 $5.8M PY2024
- Neuberger Berman Investment Adviser codes 28 50 51 52 68 $2.1M PY2024
- The Northern Trust Company codes 21 25 50 51 62 $1.8M PY2024
- Nisa Investment Advisors LLC codes 28 50 51 $1.7M PY2024
- The Dow Chemical Company codes 14 50 $1.1M PY2024
- Adenza, Inc. codes 16 49 50 70 $758,452 PY2024
- Covington & Burling LLP codes 29 50 $639,644 PY2024
- Goldman Sachs Asset Management, LP codes 28 50 51 52 56 $627,262 PY2024
- Ramirez Asset Management codes 28 50 51 $442,754 PY2024
- Bloomberg Finance L.P. codes 50 99 $406,175 PY2024
- BDO USA, P.C. codes 10 50 $388,211 PY2024
- Mcube Investment Technologies LLC codes 15 99 $338,463 PY2024
- Insight North America LLC codes 28 50 51 $270,373 PY2024
- Pimco codes 28 50 51 52 $254,594 PY2024
- Burgiss Group LLC codes 27 50 $136,245 PY2024
- Alphaengine Global Investment codes 28 50 51 $75,000 PY2024
- Evestment Alliance LLC codes 49 50 $70,481 PY2024
- R.R. Donnelley and Sons Company codes 50 99 $58,726 PY2024
- Trioptima codes 50 99 $33,262 PY2024
- Markit Group codes 50 99 $27,021 PY2024
- Tradeweb LLC codes 50 71 $14,750 PY2024
- Cieba codes 50 99 $14,674 PY2024
- The Berwyn Group codes 10 50 $10,335 PY2024
- T Rowe Price Associates Inc. codes 28 50 51 68 $7,463 PY2024
- Drgt Cash and Securities Lending Sched. D M PY2024
- Drgt Tactical Fixed Income Sched. D M $122M PY2024
- Drgt US Long Gov/credit Fi Sched. D M $492M PY2024
- Drgt Convertibles Sched. D M $777,890 PY2024
- Drgt US Large Cap Eqty Sched. D M $223M PY2024
- Drgt US Lce(passive) Sched. D M $543M PY2024
- Drgt US Sm/mid Cap Equity Sched. D M $22,226 PY2024
- Drgt Sm/mid Cap Equity (passive) Sched. D M PY2024
- Drgt Int'l Developed Equity Sched. D M $783M PY2024
- Drgt Global Equity Sched. D M $474M PY2024
- Drgt Emerging Mrkt Eqty Sched. D M $284M PY2024
- Drgt Emerging Market Equity Passive Sched. D M $40.4M PY2024
- Drgt Absolute Return Sched. D M $259M PY2024
- Drgt Opportunistic Fi Sched. D M $1.1B PY2024
- Drgt Legacy Rh Infrastructure Sched. D M $243,531 PY2024
- Drgt Real Estate Core Oe Sched. D M $443M PY2024
- Drgt Real Estate Non-Core Sched. D M $32.7M PY2024
- Drgt Real Estate Reit Sched. D M $45 PY2024
- Drgt Infrastructure & Real Assets Sched. D M PY2024
- Drgt Reinsurance Sched. D M $9.1M PY2024
- Drgt International Small Cap Sched. D M $58,115 PY2024
- Drgt Short Duration Fixed Income Sched. D M PY2024
- NT Collective Short Term Invt Fd Sched. D C $352M PY2024
- Willis Towers Watson US LLC codes 11 PY2024
- Willis Towers Watson codes 11 14 17 50 $5.2M PY2023
- Neuberger Berman Investment Adviser codes 28 50 51 52 68 $2.0M PY2023
- The Northern Trust Company codes 21 25 50 51 62 $1.9M PY2023
- Nisa Investment Advisors LLC codes 28 50 51 $1.3M PY2023
- The Dow Chemical Company codes 14 50 $891,748 PY2023
- Insight North America LLC codes 28 50 51 $703,575 PY2023
- Calypso Technology, Inc codes 16 49 50 70 $665,189 PY2023
- Covington & Burling LLP codes 29 50 $603,441 PY2023
- Ramirez Asset Management codes 28 50 51 $548,221 PY2023
- Goldman Sachs Asset Management, LP codes 28 50 51 52 56 $462,309 PY2023
- Bloomberg Finance L.P. codes 50 99 $264,358 PY2023
- Mcube Investment Technologies LLC codes 15 50 99 $260,374 PY2023
- BDO USA, P.C. codes 10 50 $191,669 PY2023
- Pimco codes 28 50 51 52 $147,090 PY2023
- Alphaengine Global Investment codes 28 50 51 $75,000 PY2023
- Burgiss Group LLC codes 27 50 $66,451 PY2023
- The Berwyn Group codes 10 50 $65,968 PY2023
- State Street Global Advisors codes 18 19 51 52 $61,500 PY2023
- T Rowe Price Associates Inc. codes 28 50 51 68 $45,993 PY2023
- Trioptima codes 50 99 $27,261 PY2023
- Tradeweb LLC codes 50 71 $10,100 PY2023
- Markit Group codes 50 99 $7,171 PY2023
- Pitchbook Data, Inc. codes 50 99 $7,109 PY2023
- Qdro Consultants Co. LLC codes 17 49 50 $6,800 PY2023
- Cieba codes 50 99 $6,712 PY2023
- Drgt Infrastructure & Real Assets Sched. D M $97 PY2023
- Drgt Tactical Fixed Income Sched. D M $169M PY2023
- Drgt US Long Gov/credit Fi Sched. D M $506M PY2023
- Drgt Convertibles Sched. D M $712,697 PY2023
- Drgt US Large Cap Eqty Sched. D M $180M PY2023
- Drgt US Lce(passive) Sched. D M $471M PY2023
- Drgt US Sm/mid Cap Equity Sched. D M $6,411 PY2023
What changed
10 events
- Dec 31, 2024Consultant changedinferenceQdro Consultants Co. LLC no longer appears on DOW Employees' Pension Plan's Schedule C as pension consultant (plan year 2024 vs 2023)with Qdro Consultants CO.LLCaskebsa.dol.gov
- Jan 1, 2024Funded status changedDOW Employees' Pension Plan funded ratio 94.6% -> 91.3% (2023-01-01 to 2024-01-01)
- Jan 1, 2024Assets changedDOW Employees' Pension Plan plan assets $12.9B -> $11.4B (-11.2%, 2023-01-01 to 2024-01-01)
- Dec 31, 2023Manager relationship startedPimco appears on DOW Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)with Pacific Investmt Management Co LLCaskebsa.dol.gov
- Dec 31, 2023Manager relationship endedinferenceMcube Investment Technologies LLC no longer appears on DOW Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)with Mcube Investment Technologies LLCaskebsa.dol.gov
- Dec 31, 2023Consultant changedinferenceEvestment Alliance LLC no longer appears on DOW Employees' Pension Plan's Schedule C as general consultant (plan year 2023 vs 2022)with Evestment Alliance, LLCaskebsa.dol.gov
- Dec 31, 2023Manager relationship endedinferenceBlackrock Institutional Trust Co no longer appears on DOW Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)with Blackrock Institutional Trust Co,naaskebsa.dol.gov
- Dec 31, 2023Assets changedDOW Employees' Pension Plan total assets $13.0B -> $11.5B (-11.4%, 2022-12-31 to 2023-12-31)
- Jan 1, 2023Funded status changedDOW Employees' Pension Plan funded ratio 101.3% -> 94.6% (2022-01-01 to 2023-01-01)
- Jan 1, 2023Assets changedDOW Employees' Pension Plan plan assets $16.5B -> $12.9B (-22.0%, 2022-01-01 to 2023-01-01)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 381285128-001
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.