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.

OCIO

Nepc, LLC

OCIOprobableCRD 110562
Advisory clients on the tape
128
Schedule C, ACFR
Public-system clients
12
ACFR and seeds
ADV institutional clients
322
filed Jul 22, 2026
ADV institutional RAUM
$121B
pension, government, charity, insurance, sovereign
ADV discretionary RAUM
$153B
Item 5.F
Classification basis: Form ADV 5.G(6) pension consulting; institutional RAUM share 0.80; discretionary RAUM $153B. An OCIO holds discretion over at least $5B of institutional assets; a consultant advises.
Advisory clients
129 allocators
Other roles
2 allocators
Schedule C rows
332 rows, $59.5M direct compensation as filed
PlanPlan yearCodesRelationship as filedDirect compensation
Kodak Retirement Income Plan202416 50NONE$2.1M
Bert Bell/pete Rozelle Nfl Player Retirement Plan202427 51NONE$1.6M
Western Connecticut Health Network Pension Plan202417 50CONSULTING$922,504
Frontier Communications Pension Plan202417 50N/A$750,159
Ufcw No. California Employers Joint Pension Plan202427 50NONE$715,582
NEW York State Nurses Association Pension Plan202427 51NONE$575,000
Eversource Pension Plan202416NONE$443,356
Vought Aircraft Industries, Inc. Hourly Retirement Plan202417 50INVESTMENT MANAGER$380,189
Beth Israel Lahey Health Defined Benefit Plan I202417 50NONE$375,392
Ufcw Consolidated Pension Fund202417 50NONE$370,000
Operating Engineers' Local 324 Pension Fund202417 50NONE KNOWN$363,962
Abc-Nabet Retirement Trust Fund202427 50NONE$333,638
3m Employee Retirement Income Plan202416 50NONE$331,583
International Painters and Allied Trades Industry Pension Plan202427 51NONE$330,019
Nextera Energy, Inc. Employee Pension Plan202427 50NONE$328,881
Operating Engineers Pension Trust202417 50NONE$319,847
PHH Pension Plan202416 50NONE$301,712
Construction Laborers Pension Trust Fund for Southern California202427 50NONE$300,000
The Aerospace Employees' Retirement Plan (aerp)202428 51NONE$297,880
Emory Healthcare, Inc. Retirement Plan202428NONE$296,680
Beth Israel Lahey Health Defined Benefit Plan II202417 50NONE$291,383
Advance Pension Plan202427 52NONE$283,119
NEW Jersey Health Care Employers- Pension Plan202428 51NONE$270,642
Wells Fargo & Company Cash Balance Plan202427 50NONE$267,792
Aecom Pension Plan202427 50INVESTMENT CONSULTANT$266,071
Siemens Pension Plan202416 50NONE$251,854
Rochester General Health System Employee Retirement Plan202417INVESTMENT CONSULTANT$236,025
Automotive Machinists Pension Plan202427 50NONE$235,319
Retirement Plan for Employees of Highland Hospital of Rochester, NY202427 50NONE$232,859
Northern Light Health Retirement Partnership Plan202427INVESTMENT ADVISOR$232,635
Meba Pension Trust-Defined Benefit Plan202427 50$232,207
Keystone Employees' Retirement Plan202427 28INVESTMENT MGMT$229,147
Siemens Energy, Inc. Pension Plan202416 50NONE$223,766
Kaman Corporation Employees' Pension Plan202417NONE$220,272
The Auto Club Group Cash Value Plan Pension Plan202417CONSULTP$218,898
Pipefitters Union Local No. 537 Pension Fund202428 51NONE$208,371
Highmark Retirement Plan202428 50NONE$199,898
Rush Retirement Plan202416 17 50NONE$192,498
American Sugar Refining and Subsidiaries Pension P202427NONE$187,683
Iron Workers' Local No. 25 Pension Fund202417 50NONE KNOWN$185,000
The Budd Company Employee Pension Plan202416NONE$182,374
Phibro Animal Health Corporation Pension Plan202418 19 28 50 51INVESTMENT MANAGEMENT$182,253
Liberty Bank Pension Plan202427 50NONE$181,700
Exeter Health Resources, Inc. Account Balance Pension Plan202427 72NONE$176,325
SAN Diego County Construction Laborers' Pension Trust Fund202427 50NONE$170,841
Retirement Plan for Employees of the Univ of Miami202427 50NONE$164,222
Southern Farm Bureau Life Insurance Company Retirement Plan202417 50INVESTMENT CONSULTANT$163,227
Oregon Laborers-Employers Pension Plan202417 27 50NONE$162,060
National Girl Scout Council Retirement Plan202417 50NONE$158,381
Pension Fund of Operating Engineers Local 513202427 50NONE$153,375
Vassar Brothers Hospital Pension Plan202427 50INVESTMENT ADVISORY$152,251
Blue Cross and Blue Shield of Massachusetts, Inc. Retirement Income Trust202427NONE$150,000
The Brookdale University Hospital and Medical Center Employees' Retirement Plan202416 50CONSULTANT$147,239
Defined Benefit Pension Plan of Agc-Iuoe Local 701 Pension Trust Fund202417 50NONE$146,991
Pernod Ricard USA, LLC Employees' Retirement Plan202417 50NONE$135,504
Axel Johnson Inc. Retirement Plan202428 51NONE$135,144
Mettler Toledo Retirement Plan202427NONE$133,322
Mcasf Local 725 Pension Plan202417 50NONE KNOWN$132,145
Unity Health System Retirement Plan202417INVESTMENT CONSULTANT$128,329
Nurses and Local 813 Ibt Retirement Plan202417 50NONE$125,000
Cbera Plan C202427 50INVESTMENT ADVISOR$123,534
Revlon Employees' Retirement Plan202417 27 50 51NONE$120,464
Assurant Pension Plan202427INVESTMENT ADVISORY$105,846
Employee Retirement Plan of S&p Global Inc and Its Subsidiaries202416 50NONE$100,815
I.B.E.W. Local Union No 357 Pension Trust Fund, Plan a202417 27 50NONE$100,363
Southern Ohio Medical Center Cash Balance Pension Plan202417 28 50 51NONE KNOWN$95,744
Contran Corporation Pension Plan202416 27 50SERVICE PROVIDER$93,091
Boston Medical Center Pension Plan202427NONE$92,636
NEW York Life Insurance Company Pension Plan202417 27 50NONE$90,356
Nylic Retirement Plan202417 27 50NONE$90,356
Legacy Allergan, Inc. Pension Plan202417 50NONE$90,000
Pipefitters Local 636 Defined Benefit Pension Fund202427 50NONE$90,000
Airconditioning and Refrigeration Industry Retirement Trust Fund202427NONE$89,609
The Defined Benefit Plan of the Institution for Savings in Newburyport202427 50INVESTMENT ADVISOR$87,713
Vinson & Elkins LLP Pension Plan202451NONE$87,298
Defined Benefit Plan of the Mid-Jersey Trucking Industry and Teamsters Local 701 Pension and Annuity Fund202427 51NONE$85,356
Wa-Id Laborers Employers Pension Trust202417 28 50 51NONE$83,398
The Cultural Institutions Pension Plan202416NONE$78,750
Pension and Retirement Plan of Plumbers and Pipefitters Union Local 525202427NONE$76,794
Girl Scouts of the USA Retirement Plan202417 50NONE$73,534
The Defined Benefit Plan of Adams Community Bank202427 50INVESTMENT ADVISOR$61,128
National Fire Protection Association Employees' Retirement Plan202428NONE$60,957
Thompson Health Pension Plan202427 50NONE$58,498
Bakery Drivers & Salesmen Local 194 & Industry Pension Fund202427 51NONE$56,331
Local 854 Pension Fund202427 50NONE$50,000
Thyssenkrupp Defined Benefit Pension Plan North America202417 50NONE KNOWN$49,774
Amica Pension Fund202427 50NONE$46,125
Fulton Fish Market Pension Fund202427 51NONE$45,591
Shriners Hospitals for Children Employees' Retirement Plan202427 51NONE$41,788
IBT Consolidated Pension Plan202427NONE$41,625
KAO America Inc. Pension Plan202427NONE$32,673
Retirement Programs of Nl Industries, Inc.202416 27 50SERVICE PROVIDER$32,398
Local 888 Pension Fund202427 51INVESTMENT ADVISORY$32,318
Global Payments Inc. Employees Retirement Plan202427 50INVESTMENT ADVISORY$31,250
Intermountain Ironworkers Pension Trust202427$30,278
The Retirement Plan of Central Georgia Health Systems, Inc.202417 50NONE$30,075
Teamsters Local 237 Welfare Fund Pension Plan202419 50NONE$24,605
Jones Memorial Hospital Pension Plan202427 50NONE$23,570
DR Pepper Snapple Group, Inc. Personal Pension Account Plan202416 17NONE$17,415
Amended Employees' Pension and Investment Plan of the Hunt Corporation and Related Companies202427 50INVESTMENT CONSULTING$16,631
Boston Newspaper Retirement Fund202417 50NONE$15,000
DR Pepper Snapple Group, Inc. Hourly Employees' Pension Plan202417NONE$12,585
UR Medicine Home Care, Certified Services, Inc. Cash Balance Pension Plan202427 50NONE$10,158
Nicholas H. Noyes Memorial Hospital Employees' Retirement Plan202427 50NONE$9,454
Abbvie Puerto Rico Pension Plan202417 50NONE$9,375
Nyseg and Rge Pension Plan202428NONE$9,309
The Rep. Co. Pens. Pl. for Ees Rep. by the Springfield News202427 52NONE$5,800
Bert Bell/pete Rozelle Nfl Player Retirement Plan202327 51NONE$1.5M
Western Connecticut Health Network Pension Plan202317 50CONSULTING$1.4M
International Painters and Allied Trades Industry Pension Plan202327 51NONE$1.2M
Ufcw No. California Employers Joint Pension Plan202327 50NONE$702,660
Frontier Communications Pension Plan202317 50N/A$693,636
Vought Aircraft Industries, Inc. Hourly Retirement Plan202317 50INVESTMENT MANAGER$639,002
NEW York State Nurses Association Pension Plan202327 51NONE$575,000
Eversource Pension Plan202316NONE$492,907
Ufcw Consolidated Pension Fund202317 50NONE$370,000
Siemens Pension Plan202316 50NONE$360,655
Operating Engineers' Local 324 Pension Fund202317 50NONE KNOWN$334,873
3m Employee Retirement Income Plan202316 50NONE$320,680
Operating Engineers Pension Trust202317 50NONE$310,092
Keystone Employees' Retirement Plan202327 28INVESTMENT MGMT$301,489
Construction Laborers Pension Trust Fund for Southern California202327 50NONE$300,000
Kodak Retirement Income Plan202316 50NONE$291,087
The Aerospace Employees' Retirement Plan (aerp)202328NONE$290,000
Advance Pension Plan202327 52NONE$285,609
NEW Jersey Health Care Employers- Pension Plan202328 51NONE$276,242
Abc-Nabet Retirement Trust Fund202327 50NONE$272,750
Siemens Energy, Inc. Pension Plan202316 50NONE$254,279
Cottage Health Pension Plan202328 51NONE$249,757
Revlon Employees' Retirement Plan202317 27 50 51NONE$232,961
Southern Ohio Medical Center Cash Balance Pension Plan202317 28 50 51NONE KNOWN$226,195
The Auto Club Group Cash Value Plan Pension Plan202317CONSULTP$221,000
Automotive Machinists Pension Plan202327 50NONE$220,764
Retirement Plan for Employees of Highland Hospital of Rochester, NY202327 50NONE$220,178
Rochester General Health System Employee Retirement Plan202317INVESTMENT CONSULTANT$217,900
Northern Light Health Retirement Partnership Plan202327INVESTMENT ADVISOR$214,272
PHH Pension Plan202316 50NONE$210,832
Pipefitters Union Local No. 537 Pension Fund202328 51NONE$198,302
Meba Pension Trust-Defined Benefit Plan202327 50$193,956
The Budd Company Employee Pension Plan202316NONE$190,682
Phibro Animal Health Corporation Pension Plan202318 19 28 50 51NONE$176,050
Liberty Bank Pension Plan202327 50NONE$175,725
American Sugar Refining and Subsidiaries Pension P202327NONE$174,820
Retirement Plan for Employees of the Univ of Miami202327 51NONE$173,433
Kaman Corporation Employees' Pension Plan202317NONE$171,551
Iron Workers' Local No. 25 Pension Fund202317 50NONE KNOWN$167,083
SAN Diego County Construction Laborers' Pension Trust Fund202327 50NONE$165,764
Rush Retirement Plan202316 17 50NONE$161,904
Oregon Laborers-Employers Pension Plan202317 27 50NONE$156,473
Unity Health System Retirement Plan202317INVESTMENT CONSULTANT$154,098
Form ADV readings
  • charity clients 84 Jul 22, 2026 reported
  • government clients 73 Jul 22, 2026 reported
  • institutional clients 322 Jul 22, 2026 reported
  • pension plan clients 165 Jul 22, 2026 reported
  • raum discretionary $153B Jul 22, 2026 reported
  • raum institutional $121B Jul 22, 2026 reported
  • raum total $153B Jul 22, 2026 reported
What changed