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

Highmark Retirement Plan

Corporate pensionPittsburgh, PA
Assets
$3.1B
Total assets, Dec 31, 2024 reported
Funded
106.0%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
8
6 managers on Schedule C
Plan sponsor: Highmark Health
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Interest-bearing cash 0.0%
  • Non-interest-bearing cash 0.0%
  • Corporate debt instruments (other) 25.9%
  • Corporate debt instruments (preferred) 19.6%
  • U.S. Government securities 10.9%
  • Insurance company general account 0.0%
  • Other investments 1.2%
  • Partnership/joint venture interests 18.1%
  • 103-12 investment entities 1.7%
  • Common/collective trusts 3.6%
  • Registered investment companies 13.3%
  • Common stock 4.0%
  • Preferred stock 0.1%
Consultants and advisers
4 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
8 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024EB Daily Value Stock Index Fundcollective trustBNY MellonPublic equity$113M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Silchester Int'l Value Equity Trust103 12 ieSilchester International InvestorPublic equity$52.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023EB Daily Value Stock Index Fundcollective trustBNY MellonPublic equity$90.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Silchester Int'l Value Equity Trust103 12 ieSilchester International InvestorPublic equity$90.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023MFB Northern Trust Collective Russecollective trustPNC Delaware Trust CompanyPooled vehicles$11.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022EB Daily Value Stock Index Fundcollective trustBNY MellonPublic equity$71.8M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Silchester Int'l Value Equity Trust103 12 ieSilchester International InvestorPublic equity$74.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022MFB Northern Trust Collective Russecollective trustPNC Delaware Trust CompanyPooled vehicles$9.7M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$3.1B Dec 31, 2024 reported Form 5500
$3.3B (2023-12) · $3.2B (2022-12)
Plan assets
$3.2B Jan 1, 2024 reported Form 5500
$3.1B (2023-01) · $4.2B (2022-01)
Net assets
$3.0B Dec 31, 2024 reported Form 5500
$3.2B (2023-12) · $3.1B (2022-12)
Funded ratio
106.0% Jan 1, 2024 reported Form 5500
103.7% (2023-01) · 117.9% (2022-01)
Funding target
$2.9B Jan 1, 2024 reported Form 5500
$2.9B (2023-01) · $2.9B (2022-01)
Discount rate
5.11% Jan 1, 2024 reported Form 5500
5.23% (2023-01) · 5.40% (2022-01)
Participants
39,226 Jan 1, 2024 reported Form 5500
40,879 (2023-01) · 41,912 (2022-01)
Contributions
$0 Dec 31, 2024 reported Form 5500
$0 (2023-12) · $0 (2022-12)
Benefits paid
$251M Dec 31, 2024 reported Form 5500
$176M (2023-12) · $188M (2022-12)
Net investment income
$-223M Dec 31, 2024 reported Form 5500
$103M (2023-12) · $-1.1B (2022-12)
Investment management fees
$5.1M Dec 31, 2024 reported Form 5500
$5.1M (2023-12) · $5.5M (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 202439,226$3.2B$2.9B106.0%$3.1B$564Mn/an/a
2023 to Dec 31, 202340,879$3.1B$2.9B103.7%$3.3B$564Mn/an/a
2022 to Dec 31, 202241,912$4.2B$2.9B117.9%$3.2B$545Mn/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
14 events
  • Dec 31, 2024Holding endedinference
    Highmark Retirement Plan no longer reports MFB Northern Trust Collective Russe (last held $11M at 2023-12-31; absent from the 2024-12-31 filing)
    with MFB Northern Trust Collective Russeaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Nepc, LLC appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Nepc, LLCaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    J.P. Morgan Investment appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with J.P. Morgan Investment Managementaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Dodge & Cox appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Dodge & Coxaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Newton Investment Management appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Newtown Investment Corporationaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Hood River Capital Management appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Hood River Capital Managementaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Rocaton Investment no longer appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Rocaton Investment Advisors LLCaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Global Infrastructure Ptners no longer appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Global Infrastructure Ptnersaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Global Infrastructure Fund no longer appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Global Infrastructure Fundaskebsa.dol.gov
  • Jan 1, 2024Funded status changed
    Highmark Retirement Plan funded ratio 103.7% -> 106.0% (2023-01-01 to 2024-01-01)
    askebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Global Infrastructure Fund appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Global Infrastructure Fundaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Withum Smith & Brown PC no longer appears on Highmark Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Withum Smith Brown PCaskebsa.dol.gov
  • Jan 1, 2023Funded status changed
    Highmark Retirement Plan funded ratio 117.9% -> 103.7% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
  • Jan 1, 2023Assets changed
    Highmark Retirement Plan plan assets $4.2B -> $3.1B (-25.4%, 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 453674900-333
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.