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.
Allocation policy
Targets by bucket across allocators
A target is the board-approved policy weight; an actual is the weight on the as-of date. Public systems print both in the ACFR investment section; corporate sponsors tag both in the 10-K (us-gaap DefinedBenefitPlan facts, all of the sponsor’s plans in aggregate). Bucket labels are DFX’s; the subject’s own label is kept beside each row. Policy change precedes manager selection: the targets that moved are listed first.
Targets that moved between consecutive policy periods
- Sysco Corp Pension Plans raised its Matching Portfolio target 50.0% -> 58.0% (2025-06-30 to 2026-06-30)
- Lumentum Holdings Inc. Pension Plans raised its Equity Funds target 35.0% -> 37.0% (2025-06-30 to 2026-06-30)
- Sysco Corp Pension Plans cut its Common Contractual Fund target 50.0% -> 42.0% (2025-06-30 to 2026-06-30)
- News Corp Pension Plans raised its Fixed Income Securities target 86.0% -> 87.0% (2025-06-30 to 2026-06-30)
- Lumentum Holdings Inc. Pension Plans cut its Fixed Income Funds target 27.0% -> 25.0% (2025-06-30 to 2026-06-30)
- Estee Lauder Companies Inc Pension Plans raised its Equity Securities (foreign) target 20.0% -> 22.0% (2025-06-30 to 2026-06-30)
- Estee Lauder Companies Inc Pension Plans cut its Other Investments (foreign) target 24.0% -> 22.0% (2025-06-30 to 2026-06-30)
- Kyndryl Holdings, Inc. Pension Plans raised its Equity Securities And Funds target 28.0% -> 29.0% (2025-03-31 to 2026-03-31)
- Kyndryl Holdings, Inc. Pension Plans cut its Fixed Income Investments target 46.0% -> 45.0% (2025-03-31 to 2026-03-31)
- Carmax Inc Pension Plans raised its Fixed Income Securities target 80.0% -> 100.0% (2025-02-28 to 2026-02-28)
- Louisiana Parochial Employees Retirement System raised its Alternatives target 15.0% -> 18.0% (2024-12-31 to 2025-12-31)
- Louisiana Parochial Employees Retirement System cut its Fixed Income target 37.0% -> 29.0% (2024-12-31 to 2025-12-31)
- Louisiana Parochial Employees Retirement System raised its Real Assets target 1.0% -> 3.0% (2024-12-31 to 2025-12-31)
- Louisiana Parochial Employees Retirement System raised its Equity target 47.0% -> 50.0% (2024-12-31 to 2025-12-31)
- Illinois Municipal Retirement Fund (IMRF) cut its Domestic Equity target 33.5% -> 32.5% (2024-12-31 to 2025-12-31)
122 policy rows for Private equity
| Allocator | As printed | Period | Target | Range | Actual | Source |
|---|---|---|---|---|---|---|
| Illinois Police Officers Pension Investment Fund | Private Equity | Jun 30, 2025 | 0.0% | 0.0% | reported ACFR | |
| South Dakota Investment Council | Private Equity | Jun 30, 2025 | 0.0% | 0% to 12% | reported ACFR |
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