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.
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OCIO
S••• A••••••• S••••••• L••• C••
Advisory clients on the tape
10
Schedule C, ACFR
Public-system clients
0
ACFR and seeds
ADV institutional clients
588
filed Mar 30, 2026
ADV institutional RAUM
$16B
pension, government, charity, insurance, sovereign
ADV discretionary RAUM
$28B
Item 5.F
Classification basis: Form ADV 5.G(6) pension consulting; institutional RAUM share 0.55; discretionary RAUM $28B. An OCIO holds discretion over at least $5B of institutional assets; a consultant advises.
Advisory clients
10 allocators
- A••••• P•••••••• L• S••••••• P•••••• P••• Pension consultantthrough Dec 31, 2024 Form 5500
- A••••• P•••••••• P•••••• P••• Pension consultantthrough Dec 31, 2024 Form 5500
- S•••• M•••• W•••••• L•••• U•••• N•• 3• P•••••• T•••• F••• Investment adviser (plan)through Jun 30, 2024 Form 5500
- A••••••• L•••••• S•••••• P•••••• P••• General consultantthrough Dec 31, 2023 Form 5500
- G•••••• L•••• 1••• P•••••• P••• Investment adviser (plan)through Sep 30, 2023 Form 5500
- S•• F•••••••• L••••••••• P•••••• T•••• Investment adviser (plan)through Jun 30, 2023 Form 5500
- G••••••••• W•••••• U•••• L•••• 6•• a•• M••••••••• A••••••••• P•••••• F••• Investment adviser (plan)through May 31, 2023 Form 5500
- L•••• U•••• 4•• I••••••• P•••••• P••• Investment adviser (plan)through Mar 31, 2023 Form 5500
- H•••••• H•••••••• A••••••• I••• R••••••••• P••• Investment adviser (plan)through Mar 31, 2023 Form 5500
- R••••• K••••• L•• C••• B•••••• P•••••• P••• Investment adviser (plan)through Dec 31, 2022 Form 5500
Other roles
2 allocators
- O••••••••• C••• B•••••• P•••••• P••• Trusteethrough Dec 31, 2023
- S•••••• C••••••••• E••••••••• R••••••••• P••• Trusteethrough Dec 31, 2022
Schedule C rows
141 rows, $13.3M direct compensation as filed
Form ADV readings
- charity clients 299 Mar 30, 2026 reported
- government clients 51 Mar 30, 2026 reported
- institutional clients 588 Mar 30, 2026 reported
- pension plan clients 238 Mar 30, 2026 reported
- raum discretionary $28B Mar 30, 2026 reported
- raum institutional $16B Mar 30, 2026 reported
- raum total $28B Mar 30, 2026 reported
What changed
- Dec 31, 2024Manager relationship endedinferenceU••••• S••••••••• o• A••••••• A••••••••• H•••••• C••••••••• M••••••••• P•••••• P•••Sage Advisory no longer appears on United Steelworkers of America, Afl-Cio-Clc Highway Contractors Multi-Employer Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Investment Advisors appears on Altium Packaging Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Advisory Services, Ltd Co appears on Ironworkers National Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Investment Advisors appears on Altium Packaging LP Salaried Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Advisors no longer appears on Sheet Metal Workers Local No. 20, Indianapolis Are's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage appears on Radio, Tv & Recording Arts Pension Fund's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Advisory Services, Ltd Co. no longer appears on RCM Industries, Inc. Defined Benefit Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Dec 31, 2024Manager relationship startedU••• U•••• • P••••••••• F••• I••••••• E•••••••• T•••••••• P•••••• F•••Sage Advisory Services Ltd Co appears on Ufcw Union & Partcipating Food Industry Employers Tri-State Pension Fund's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Advisory Services appears on Global Partners LP Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Invest With Wisdom appears on Cement Masons Pension Trust Fund for Northern California's Schedule C as investment manager (plan year 2023 vs 2022)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Dec 31, 2023Manager relationship endedinferenceL•••• 6•• I••••••• a•• E••••••••• I••••••• P•••••• P•••Sage Advisory Services Ltd Co no longer appears on Local 697 I.B.E.W. and Electrical Industry Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Advisory Services Ltd Co appears on Plan de Pensiones Cooperativa de Seguros Multiples's Schedule C as investment manager (plan year 2023 vs 2022)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Advisory appears on Sheet Metal Workers Pension Plan of Northern California's Schedule C as investment manager (plan year 2023 vs 2022)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Sage Advisory Services, Ltd Co. appears on Steamfitters Local Union No. 420 Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov
- Dec 31, 2023Manager relationship startedP•••••• P••• o• t•• I••• L•••• 1•• 1••• 1••• 1••• 1•••• A••••••Sage Advisory Services, Ltd. Compan appears on Pension Plan of the Iuoe Local 137 137a 137b 137c 137r, Afl-Cio's Schedule C as investment manager (plan year 2023 vs 2022)with S••• A••••••• S••••••• L••• C••askebsa.dol.gov