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

YUM Brands Retirement Plan

Corporate pensionLouisville, KY
Assets
$711M
Total assets, Dec 31, 2024 reported
Funded
90.7%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
12
none on the tape
Plan sponsor: YUM Brands, Inc.
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Corporate debt instruments (other) 2.9%
  • Corporate debt instruments (preferred) 0.2%
  • U.S. Government securities 16.7%
  • Other investments 1.2%
  • Common/collective trusts 74.1%
  • Registered investment companies 2.7%
Consultants and advisers
7 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, 2024WTW Gt Real Asset Fundcollective trustTowers Watson Investment Services,Real assets$141M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Msci Acwi Index Nl Fundcollective trustState Street Gbl EquityPooled vehicles$212M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024WTW Gt Diversified Credit Fundcollective trustTowers Watson Investment Services,Private credit$146M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Collective Short Term Investment Fdcollective trustNorthern TrustCash$27.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Msci Acwi Index Nl Fundcollective trustState Street Gbl EquityPooled vehicles$213M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023WTW Gt Real Asset Fundcollective trustTowers Watson Investment Services,Real assets$149M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023WTW Gt Diversified Credit Fundcollective trustTowers Watson Investment Services,Private credit$132M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Collective Short Term Investment Fdcollective trustNorthern TrustCash$58.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Collective Short Term Investment Fdcollective trustNorthern TrustCash$20.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Msci Acwi Index Nl Fundcollective trustState Street Gbl EquityPooled vehicles$179M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022WTW Gt Diversified Credit Fundcollective trustTowers Watson Investment Services,Private credit$146M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022WTW Gt Real Asset Fundcollective trustTowers Watson Investment Services,Real assets$192M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$711M Dec 31, 2024 reported Form 5500
$734M (2023-12) · $754M (2022-12)
Plan assets
$680M Jan 1, 2024 reported Form 5500
$664M (2023-01) · $1.0B (2022-01)
Net assets
$644M Dec 31, 2024 reported Form 5500
$680M (2023-12) · $664M (2022-12)
Funded ratio
90.7% Jan 1, 2024 reported Form 5500
85.6% (2023-01) · 112.4% (2022-01)
Funding target
$740M Jan 1, 2024 reported Form 5500
$742M (2023-01) · $713M (2022-01)
Discount rate
5.15% Jan 1, 2024 reported Form 5500
5.05% (2023-01) · 5.48% (2022-01)
Participants
19,460 Jan 1, 2024 reported Form 5500
20,409 (2023-01) · 21,284 (2022-01)
Contributions
$0 Dec 31, 2024 reported Form 5500
$0 (2023-12) · $0 (2022-12)
Benefits paid
$42.3M Dec 31, 2024 reported Form 5500
$30.8M (2023-12) · $74.3M (2022-12)
Net investment income
$-36.0M Dec 31, 2024 reported Form 5500
$15.4M (2023-12) · $-346M (2022-12)
Investment management fees
$762,000 Dec 31, 2024 reported Form 5500
$1.0M (2023-12) · $1.1M (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 202419,460$680M$740M90.7%$711Mn/an/an/a
2023 to Dec 31, 202320,409$664M$742M85.6%$734Mn/an/an/a
2022 to Dec 31, 202221,284$1.0B$713M112.4%$754Mn/an/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
4 events
  • Jan 1, 2024Funded status changed
    YUM Brands Retirement Plan funded ratio 85.6% -> 90.7% (2023-01-01 to 2024-01-01)
    askebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Blackrock no longer appears on YUM Brands Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Blackrock Institutional Trust Co,naaskebsa.dol.gov
  • Jan 1, 2023Funded status changed
    YUM Brands Retirement Plan funded ratio 112.4% -> 85.6% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
  • Jan 1, 2023Assets changed
    YUM Brands Retirement Plan plan assets $1.0B -> $664M (-34.2%, 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 133951308-333
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.