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

National Fuel Gas Company Retirement Plan

Corporate pensionWilliamsville, NY
Assets
$861M
Total assets, Dec 31, 2024 reported
Funded
91.4%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
11
none on the tape
Plan sponsor: National Fuel Gas Company
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Non-interest-bearing cash 0.0%
  • Corporate debt instruments (other) 53.3%
  • Corporate debt instruments (preferred) 0.7%
  • U.S. Government securities 12.0%
  • Other investments 0.9%
  • Common/collective trusts 22.3%
  • Registered investment companies 5.8%
  • Common stock 4.3%
  • Preferred stock 0.0%
Consultants and advisers
3 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
4 managers on the commitment tape
From the plan’s own commitment disclosures
Commitments
11 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024Blackrock Msci Acwi Equity Index Fdcollective trustBlackrock Institutional Trust Company, N.A.Public equity$37.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Jpmcb Strategic Property Fundcollective trustJ.P. Morgan ChaseReal estate$44.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Wtc-Cif II Securitized Opportunitiecollective trustWellington FdPooled vehicles$22.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Blackrock Msci Acwi Equity Index Fdcollective trustBlackrock Institutional Trust Company, N.A.Public equity$40.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Jpmcb Strategic Property Fundcollective trustJ.P. Morgan ChaseReal estate$52.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Wtc-Cif II Securitized Opportunitiecollective trustWellington FdPooled vehicles$26.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2019Brandywine Global Investment Manage103 12 ieBrandywine Global Investment Mgmt.Pooled vehicles$78.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2019Equity Index Fundcollective trustWells FargoPublic equity$67.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2019Blackrock Msci Acwi Equity Index Fdcollective trustBlackrock Institutional Trust Company, N.A.Public equity$76.4M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2019Jpmcb Strategic Property Fundcollective trustJ.P. Morgan ChaseReal estate$53.4M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2019Wtc-Cif II Securitized Opportunitiecollective trustWellington FdPooled vehicles$21.5M heldDisclosed holdingaskebsa.dol.gov
Size and funding
29 readings
Total assets
$861M Dec 31, 2024 reported Form 5500
$924M (2023-12) · $1.1B (2019-12)
Plan assets
$834M Jan 1, 2024 reported Form 5500
$845M (2023-01)
Net assets
$854M Dec 31, 2024 reported Form 5500
$913M (2023-12) · $1.1B (2019-12)
Funded ratio
91.4% Jan 1, 2024 reported Form 5500
90.4% (2023-01)
Funding target
$802M Jan 1, 2024 reported Form 5500
$820M (2023-01)
Discount rate
5.05% Jan 1, 2024 reported Form 5500
5.17% (2023-01)
Participants
3,169 Jan 1, 2024 reported Form 5500
3,247 (2023-01) · 3,573 (2019-07)
Contributions
$0 Dec 31, 2024 reported Form 5500
$0 (2023-12) · $5.4M (2019-12)
Benefits paid
$65.8M Dec 31, 2024 reported Form 5500
$66.0M (2023-12) · $31.7M (2019-12)
Net investment income
$-59.3M Dec 31, 2024 reported Form 5500
$-5.8M (2023-12) · $33.3M (2019-12)
Investment management fees
$2.8M Dec 31, 2024 reported Form 5500
$2.9M (2023-12) · $2.3M (2019-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 20243,169$834M$802M91.4%$861Mn/an/an/a
2023 to Dec 31, 20233,247$845M$820M90.4%$924M$0n/an/a
2022 to Dec 31, 20193,573n/an/an/a$1.1B$40.6Mn/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
13 events
  • Dec 31, 2023Holding endedinference
    National Fuel Gas Company Retirement Plan no longer reports Equity Index Fund (Wells Fargo) (last held $67M at 2019-12-31; absent from the 2023-12-31 filing)
    with Wells Fargoaskebsa.dol.gov
  • Dec 31, 2023Holding endedinference
    National Fuel Gas Company Retirement Plan no longer reports Brandywine Global Investment Manage (Brandywine Global Investment Mgmt.) (last held $79M at 2019-12-31; absent from the 2023-12-31 filing)
    with Brandywine Global Investment Mgmt.askebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Altrinsic Global Advisors, LLC. no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Altrinsic Global Advisors LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Axiom International Investors LLC no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Axiom International Investorsaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Westfield Capital Mgmt Co., L.P. no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Westfield Capital Management Companaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Brandywine Global Investment Mgmt no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Brandywine Global Investment Mgmt.askebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Metropolitan West Asset Mgmt, LLC no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Metropolitan West Asset Managementaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Eagle Capital Management, LLC no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Eagle Capital Management, LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Sustainable Growth Advisers, LP appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Sustainable Growth Advisersaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Victory Capital Management Inc. no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Victory Capital Managementaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Macquarie Investment Mgmt Advisors no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Macquarie Investment Mgmnt Advisersaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Stockbridge Capital Group LLC. no longer appears on National Fuel Gas Company Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Stockbridge Capital Group, LLCaskebsa.dol.gov
  • Dec 31, 2023Assets changed
    National Fuel Gas Company Retirement Plan total assets $1.1B -> $924M (-15.0%, 2019-12-31 to 2023-12-31)
    askebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 131086010-001
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.