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Original filing (PDF)20251014120955NAL0003888096001

TRUSTEES OF W. STATES INSULATORS & ALLIED WORKERS PENSION FUND

Form 5500
FILING_RECEIVED
WESTERN STATES INSULATORS AND ALLIED WORKERS' PENSION PLAN
Defined-benefit pension plan
Signals · 4
3 failed disclosures40% in single holdingNo recordkeeper disclosed16 service providers
Active participants
3,258
Accounts w/ balance
Plan assets (EOY)
$491.7M
Net assets (EOY)
$491.5M
How this plan invests
This plan
11 pooled trusts
Schedule D
128 securities
funds · stocks · CUSIPs

Holdings are itemized directly on this plan's Schedule of Assets, below.

Plan health score (directional)
78
/ 100
Grade B
Above-average plan
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
75
Concentration risk
80
Total plan cost
65
Vendor stack
80
Participation health
100
Knocking points off
  • 3 Schedule C providers failed to disclose compensation.
  • Top holding "s See attached" is 40% of plan.
  • 32 bps in Schedule C fees — 221% above peer band of 10 bps.
  • No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for TRUSTEES OF W. STATES INSULATORS & ALLIED WORKERS PENSION FUND.
Plan sponsor
Name
TRUSTEES OF W. STATES INSULATORS & ALLIED WORKERS PENSION FUND
EIN
51-0155190
Address
7180 KOLL CENTER PARKWAY, #200 · PLEASANTON, CA · 945663184
Phone
(800) 320-0184
Industry
Constructionsee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
001
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-10-14
Pension benefit codes
1B · Flat-dollar DB formula
Audit & trust (Schedule H)
Auditor
WITHUMSMITH+BROWN, PC
Trustee / custodian
Trustee phone

Service providers (Schedule C)

16 rows
Other
16
NameEINLocationRelationDirect compIndirect comp
BENESYS ADMINISTRATORS38-2383171NONE$397K
ASB CAPITAL MANAGEMENT LLC80-0618452NONE$270K
MEKETA INVESTMENT GROUP, INC.04-2659023NONE$156K
KANYE ANDERSON RUDNICK95-4575414NONE$136K
CHERION, INC.13-4215617NONE$116K
WITHUMSMITH&BROWN, PC22-2027092NONE$90K
KRAW LAW GROUP, APC32-0465891NONE$88K
SMART SOURCE LLC30-0830429NONE$83K
WASHINGTON CAPITAL91-1042342NONE$71K
AMALGAMATED BANK13-4920330NONE$66K
SANDS CAPITAL MANAGEMENT, LLC20-2830751NONE$44K
IRON MOUNTAIN23-2588479NONE$22K
COMPLIANCE VERIFICATION, INC26-2336426NONE$19K
WOHLNER KAPLON CUTLER HALFORD ROSEN83-2856417NONE$15K
FREMONT BANK94-1569025NONE$8K
STEPHEN HORN INSURANCE SERVICES94-3249244NONE$0

Failed / refused disclosures (Sched C Part 2)

ProviderNondisclosure info
FREMONT BANKTHE SERVICE PROVIDER DID NOT PROVIDE AMOUNT OF DIRECT OR INDIRECT COMPENSATION RECEIVED.
SANDS CAPITAL MANAGEMENT, INCTHE SERVICE PROVIDER DID NOT PROVIDE AMOUNT OF DIRECT OR INDIRECT COMPENSATION RECEIVED.
DIMENSIONAL FUND ADVISORSTHE SERVICE PROVIDER DID NOT PROVIDE AMOUNT OF INDIRECT COMPENSATION RECEIVED.

Investments

125 direct securities · 11 pooled funds· $886.0M(100% of reported assets)

Rows tagged as a trust or pooled fund hold many underlying securities. Click one to drill into its own Schedule of Assets — where the individual funds, shares, and CUSIPs live.

Uncategorized
$343.5M
123 holdings
Common Collective Trusts
$248.3M
1 holding
Common Collective Trust
$248.3M
10 holdings
Common Stocks
$31.5M
1 holding
103-12 Investment Entity
$14.6M
1 holding
PIInvestmentTypeShares / unitsCostCurrent value% of plan
See attached
Common Collective Trusts
$139.9M$248.3M50.5%
Registered Investment Companies See attached$134.8M$159.0M32.3%
STATE STREET S&P 500(R) FLAGSHIP NL
STATE STREET BANK AND TRUST COMPANY · EIN 04-0025081 / PN 004
Common Collective Trust
$56.8M11.5%
SSGA U.S. AGGREGATE BOND INDEX NL F
STATE STREET BANK AND TRUST COMPANY · EIN 04-0025081 / PN 070
Common Collective Trust
$45.8M9.3%
S&P 500 FLAGSHIP SECURITIES NL FUND CM1 Cusip: AMA000288 Portfolio 1000691.5 USD$13.9M$42.9M8.7%
See attached
Common Stocks
$20.5M$31.5M6.4%
GQG PARTNERS EMERGING MARKET
RELIANCE TRUST COMPANY · EIN 82-6258259 / PN 012
Common Collective Trust
$31.2M6.3%
SSGA TIPS INDEX NL FUND
STATE STREET BANK AND TRUST COMPANY · EIN 04-0025081 / PN 152
Common Collective Trust
$31.1M6.3%
Partnerships/Joint Venture Interests See attached$14.5M$29.4M6.0%
ASB ALLEGIANCE REAL ESTATE FUND
CHEVY CHASE TRUST COMPANY · EIN 52-6257033 / PN 006
Common Collective Trust
$22.5M4.6%
S&P MIDCAP 400 INDEX NL FUND
STATE STREET BANK AND TRUST COMPANY · EIN 04-0025081 / PN 006
Common Collective Trust
$22.1M4.5%
WTC-CTF BLENDED OPPORTUNISTIC EMERG
WELLINGTON TRUST COMPANY · EIN 47-3828930 / PN 001
Common Collective Trust
$18.7M3.8%
S&P MIDCAP 400 (R) INDEX NL FUND (CM17) Cusip: AB0232509 Portfolio 1000691.5 USD$4.3M$17.8M3.6%
INVESTMENT FUNDS MUTUAL FUND ARTISAN INTL VALUE FUND INST SHARES Cusip: 04314H857 Portfolio 1000691.5 USD$28.4M$15.7M3.2%
SSGA S&P GLB LGE M/C NAT RES IDX FU
STATE STREET BANK AND TRUST COMPANY · EIN 90-0337987 / PN 287
Common Collective Trust
$14.9M3.0%
103-12 Investment Entities See attached$10.0M$14.6M3.0%
WASHINGTON CAPITAL JOINT MASTER TRU
WASHINGTON CAPITAL MANAGEMENT · EIN 91-1163419 / PN 001
103-12 Investment Entity
$14.6M3.0%
DODGE & COX STK FUND COM #86 Cusip: 256219106 Portfolio 1000691.5 USD$11.8M$8.4M1.7%
TIPS INDEX FUND (CMTP1) Cusip: AB0233424 Portfolio 1000691.5 USD$23.8M$7.3M1.5%
INVESTMENT FUNDS (Cont.) COMMON/COLLECTIVE FUNDS-OUTSIDE (Cont.) SSGA S&P GBL LGE M/C NAT RES IDX FD ZVB5 Cusip: AB0232608 Portfolio 1000691.5 USD$9.2M$5.7M1.2%
WASHINGTON CAPITAL MORTGAGE INCOME FD Cusip: AB2455298 Portfolio 1000691.5 USD$10.0M$4.6M0.9%
WELLINGTON-CTF BLENDED OPP EMER DEBT Cusip: AMA000060 Portfolio 1000691.5 USD$23.1M$4.4M0.9%
Interest-bearing Cash See attached$3.8M$3.8M0.8%
FIXED INCOME COMMON/COLLECTIVE FUNDS-OUTSIDE ASB ALLEGIANCE REAL ESTATE FUND Cusip: AB0199708 Portfolio 1000691.5 USD$19.5M$3.0M0.6%
DODGE & COX INCOME FUND MUT FD Cusip: 256210105 Portfolio 1000691.5 USD$29.9M$3.0M0.6%
DFA INTL SMALL CAP VALUE PORT INSTL CL Cusip: 233203736 Portfolio 1000691.5 USD$5.5M$2.7M0.5%
STATE STREET GLOBAL RE NONLENDING
STATE STREET BANK AND TRUST COMPANY · EIN 27-6455179 / PN 001
Common Collective Trust
$2.7M0.5%
SSGA RUSSEL 2000 INDEX SECURITIES N
STATE STREET BANK AND TRUST COMPANY · EIN 04-0025081 / PN 013
Common Collective Trust
$2.4M0.5%
RUSSELL 2000 INDEX (CM521) Cusip: AB0255328 Portfolio 1000691.5 USD$590K$1.8M0.4%
DFA EMERGING MARKETS VALUE PORTFOLIO Cusip: 233203587 Portfolio 1000691.5 USD$15.5M$1.7M0.3%
U.S. AGGREGATE BOND INDEX NL FD (CMX6) Cusip: AB0122874 Portfolio 1000691.5 USD$44.3M$1.5M0.3%
DEVELOPED REAL ESTATE SEC INDX NL CTF Cusip: AB0212436 Portfolio 1000691.5 USD$1.2M$1.4M0.3%
EQUITIES (Cont.) COMMON STOCK (Cont.) Portfolio 1000691.7 USD$416K$1.2M0.3%
INVESTMENT FUNDS (Cont.) MUTUAL FUND (Cont.) Portfolio 1000691.5 USD$21.4M$996K0.2%
AMAZON COM INC Cusip: 023135106 Portfolio 1000691.7 USD$569K$886K0.2%
SERVICENOW INC Cusip: 81762P102 Portfolio 1000691.7 USD$87K$805K0.2%
EQUITIES COMMON STOCK AAON INC Cusip: 000360206 Portfolio 1000691.11 USD$83K$455K<0.1%
MORNINGSTAR INC Cusip: 617700109 Portfolio 1000691.11 USD$206K$430K<0.1%
HOULIHAN LOKEY INC. Cusip: 441593100 Portfolio 1000691.10 USD$161K$425K<0.1%
META PLATFORMS INC CL A Cusip: 30303M102 Portfolio 1000691.7 USD$395K$411K<0.1%
CONSTRUCTION PARTNERS INC -A Cusip: 21044C107 Portfolio 1000691.10 USD$115K$396K<0.1%
Total AMERICAN DEPOSITORY USD$1.2M$374K<0.1%
Total FOREIGN COMMON STOCK USD$1.6M$372K<0.1%
NETFLIX INC. Cusip: 64110L106 Portfolio 1000691.7 USD$126K$338K<0.1%
MICROSOFT CORP Cusip: 594918104 Portfolio 1000691.7 USD$857K$304K<0.1%
WATSCO INC Cusip: 942622200 Portfolio 1000691.10 USD$141K$296K<0.1%
PRIMERICA INC Cusip: 74164M108 Portfolio 1000691.10 USD$94K$284K<0.1%
VISA INC. CLASS A Cusip: 92826C839 Portfolio 1000691.7 USD$68K$265K<0.1%
RBC BEARINGS INC Cusip: 75524B104 Portfolio 1000691.10 USD$101K$255K<0.1%
RYAN SPECIALTY HOLDINGS INC CL A Cusip: 78351F107 Portfolio 1000691.11 USD$146K$237K<0.1%
Portfolio 1000691.5 USD$218K$218K<0.1%
Portfolio 1000691.7 USD$218K$218K<0.1%
AMERICAN DEPOSITORY RECEIPTS AUTO TRADER GROUP Cusip: 05277E104 Portfolio 1000691.11 USD$271K$216K<0.1%
SHOPIFY INC -A Cusip: 82509L107 Portfolio 1000691.7 USD$513K$205K<0.1%
RLI CORP Cusip: 749607107 Portfolio 1000691.10 USD$69K$201K<0.1%
ASPEN TECHNOLOGY INC COM Cusip: 29109X106 Portfolio 1000691.11 USD$5K$198K<0.1%
FUNDS-OUTSIDE MUTUAL FUND-DAILY ACCRUAL VANGUARD SHORT TERM BOND INDEX INSTL Cusip: 921937777 Portfolio 1000691.13 USD$22.4M$193K<0.1%
ATLASSIAN CORPORATION CL A Cusip: 049468101 Portfolio 1000691.7 USD$556K$189K<0.1%
EQUITIES (Cont.) COMMON STOCK (Cont.) Portfolio 1000691.11 USD$60K$185K<0.1%
OLLIE'S BARGAIN OUTLET HOLDINGS INC Cusip: 681116109 Portfolio 1000691.11 USD$134K$177K<0.1%
ARMSTRONG WORLD INDUSTRIES Cusip: 04247X102 Portfolio 1000691.10 USD$196K$176K<0.1%
FACTSET RESEARCH SYSTEMS INC. Cusip: 303075105 Portfolio 1000691.11 USD$62K$172K<0.1%
CORPORATE OBLIGATIONS FLOATING RATE CORPORATE BONDS SIGMA FINANCE INC 06/04/2009 Cusip: 8265Q0XQ0 Portfolio 1000691.1 USD$168K<0.1%
EQUITIES (Cont.) COMMON STOCK (Cont.) LANDSTAR SYSTEM INC. Cusip: 515098101 Portfolio 1000691.10 USD$100K$167K<0.1%
EQUITIES (Cont.) COMMON STOCK (Cont.) WD 40 CO Cusip: 929236107 Portfolio 1000691.10 USD$96K$162K<0.1%
ASML HOLDING NV F Cusip: N07059210 Portfolio 1000691.7 USD$512K$129K<0.1%
SPOTIFY TECHNOLOGY SA Cusip: L8681T102 Portfolio 1000691.7 USD$393K$122K<0.1%
NATIONAL BEVERAGE CORP Cusip: 635017106 Portfolio 1000691.10 USD$88K$120K<0.1%
SITEONE LANDSCAPE SUPPLY INC Cusip: 82982L103 Portfolio 1000691.10 USD$105K$119K<0.1%
ENDAVA PLC Cusip: 29260V105 Portfolio 1000691.11 USD$373K$117K<0.1%
DEXCOM INC Cusip: 252131107 Portfolio 1000691.7 USD$630K$114K<0.1%
JBT MAREL CORPORATION Cusip: 477839104 Portfolio 1000691.10 USD$210K$110K<0.1%
BADGER METER INC Cusip: 056525108 Portfolio 1000691.10 USD$21K$109K<0.1%
HOLLEY INC COM Cusip: 43538H103 Portfolio 1000691.11 USD$158K$105K<0.1%
STOCK YARDS BANCORP, INC. Cusip: 861025104 Portfolio 1000691.10 USD$141K$105K<0.1%
APPLE INC Cusip: 037833100 Portfolio 1000691.7 USD$598K$100K<0.1%
DOORDASH INC CL A Cusip: 25809K105 Portfolio 1000691.7 USD$261K$97K<0.1%
JACK HENRY & ASSOCIATES INC Cusip: 426281101 Portfolio 1000691.10 USD$45K$93K<0.1%
CHEESECAKE FACTORY INC COM Cusip: 163072101 Portfolio 1000691.10 USD$228K$91K<0.1%
AZENTA INC COM Cusip: 114340102 Portfolio 1000691.10 USD$150K$89K<0.1%
NCINO INC COM Cusip: 63947X101 Portfolio 1000691.11 USD$449K$83K<0.1%
BLOCK INC CL A Cusip: 852234103 Portfolio 1000691.7 USD$539K$77K<0.1%
EQUITIES (Cont.) AMERICAN DEPOSITORY RECEIPTS (Cont.) RIGHTMOVE PLC Cusip: 76657Y101 Portfolio 1000691.11 USD$290K$77K<0.1%
SERVISFIRST BANCSHARES Cusip: 81768T108 Portfolio 1000691.11 USD$365K$76K<0.1%
TRIUMPH FINANCIAL INC Cusip: 89679E300 Portfolio 1000691.11 USD$287K$74K<0.1%
EQUITIES (Cont.) COMMON STOCK (Cont.) ROBLOX CORP CL A Cusip: 771049103 Portfolio 1000691.7 USD$190K$71K<0.1%
NU HLDGS LTD ORD SHS CL A Cusip: G6683N103 Portfolio 1000691.7 USD$302K$67K<0.1%
CSW INDUSTRIALS INC Cusip: 126402106 Portfolio 1000691.10 USD$121K$62K<0.1%
SAMSARA INC COM CL A Cusip: 79589L106 Portfolio 1000691.7 USD$410K$62K<0.1%
REVOLVE GROUP INC Cusip: 76156B107 Portfolio 1000691.11 USD$239K$56K<0.1%
SCOTTS MIRACLE-GRO CO-CL A Cusip: 810186106 Portfolio 1000691.10 USD$229K$55K<0.1%
SNOWFLAKE INC CL-A Cusip: 833445109 Portfolio 1000691.7 USD$278K$49K<0.1%
FIRST FINL BANKSHARES INC Cusip: 32020R109 Portfolio 1000691.10 USD$50K$46K<0.1%
ENERPAC TOOL GROUP CORP Cusip: 292765104 Portfolio 1000691.11 USD$331K$43K<0.1%
CHOICE HOTELS INTL INC Cusip: 169905106 Portfolio 1000691.10 USD$228K$41K<0.1%
THOR INDUSTRIES INC Cusip: 885160101 Portfolio 1000691.10 USD$208K$39K<0.1%
CLOUDFLARE INC Cusip: 18915M107 Portfolio 1000691.7 USD$408K$36K<0.1%
EQUITIES (Cont.) COMMON STOCK (Cont.) ALBANY INTL CORP-CL A Cusip: 012348108 Portfolio 1000691.10 USD$133K$36K<0.1%
ENTEGRIS INC Cusip: 29362U104 Portfolio 1000691.7 USD$288K$32K<0.1%
U.S. PHYSICAL THERAPY INC Cusip: 90337L108 Portfolio 1000691.11 USD$149K$31K<0.1%
INTERCONTINENTAL EXCHANGE, INC Cusip: 45866F104 Portfolio 1000691.7 USD$449K$30K<0.1%
FOREIGN COMMON STOCK EVERTEC INC Cusip: 30040P103 Portfolio 1000691.10 USD$293K$29K<0.1%
HILLMAN SOLUTIONS CORP COM CL A Cusip: 431636109 Portfolio 1000691.10 USD$286K$27K<0.1%
NATIONAL RESEARCH CORP Cusip: 637372202 Portfolio 1000691.11 USD$96K$23K<0.1%
DREAM FINDERS HOMES INC COM CL A Cusip: 26154D100 Portfolio 1000691.11 USD$211K$22K<0.1%
OMEGA FLEX INC Cusip: 682095104 Portfolio 1000691.11 USD$114K$22K<0.1%
PRICESMART INC Cusip: 741511109 Portfolio 1000691.11 USD$64K$18K<0.1%
PRESTIGE CONSUMER HEALTHCARE INC Cusip: 74112D101 Portfolio 1000691.10 USD$176K$17K<0.1%
APPFOLIO INC CLASS A Cusip: 03783C100 Portfolio 1000691.11 USD$211K$17K<0.1%
BANK OF HAWAII CORP Cusip: 062540109 Portfolio 1000691.10 USD$210K$16K<0.1%
UNIFIRST CORPORATION Cusip: 904708104 Portfolio 1000691.10 USD$241K$16K<0.1%
ABS ----------------- -------------- ------- Total CORPORATE OBLIGATIONS USD$15K$13K<0.1%
ULTRAGENYX PHARMACEUTICAL INC COM Cusip: 90400D108 Portfolio 1000691.7 USD$207K$13K<0.1%
NVE CORPORATION Cusip: 629445206 Portfolio 1000691.11 USD$25K$13K<0.1%
EQUITIES (Cont.) COMMON STOCK (Cont.) Portfolio 1000691.10 USD$253K$12K<0.1%
ONESTREAM INC CL A COM Cusip: 68278B107 Portfolio 1000691.11 USD$219K$11K<0.1%
Total COLLATERALIZED MORT USD$10K$10K<0.1%
LAKELAND FINANCIAL CORP Cusip: 511656100 Portfolio 1000691.10 USD$92K$10K<0.1%
UBER TECHNOLOGIES INC Cusip: 90353T100 Portfolio 1000691.7 USD$286K$9K<0.1%
Receivable Cash USD Portfolio 1000691.11 USD$8K$8K<0.1%
ESCROW LEHMAN BROS HLDGS 0% 8/22/2099 Cusip: 524ESCS68 Portfolio 1000691.1 Original USD$8K$8K<0.1%
JPMORGAN 100% US TREAS MONEY MARKET Cusip: AB4812AA2 Portfolio 1000691.1 USD 2,100,016.79 1.00 2,100,016.79 0.00$8K<0.1%
NOVANTA INC Cusip: 67000B104 Portfolio 1000691.11 USD$142K$8K<0.1%
Total CURRENCY USD$6K$6K<0.1%
SMITH DOUGLAS HOMES CORP COM SHS CL A Cusip: 83207R107 Portfolio 1000691.11 USD$89K$4K<0.1%
GETTY REALTY CORP Cusip: 374297109 Portfolio 1000691.10 USD$7K$4K<0.1%
BACKED OBLIGATION CORPORATE VARIABLE RATE ABS GSAA HOME EQUITY TR ABS FLTG 12/25/36 Cusip: 362244AA3 Portfolio 1000691.1 Original USD$5K$3K<0.1%
EQUITIES (Cont.) COMMON STOCK (Cont.) Portfolio 1000691.7 USD$244K$3K<0.1%
Portfolio 1000691.11 USD 771,295.45 1.00 771,295.45 0.00$3K<0.1%
CASH EQUIVALENTS CURRENCY Payable Cash USD Portfolio 1000691.11 USD$2K$2K<0.1%
APPLOVIN CORP COM CL A Cusip: 03831W108 Portfolio 1000691.7 USD$337K$2K<0.1%
ESCROW LEHMAN BROS HLDGS 0% 12/23/2099 Cusip: 525ESC2R9 Portfolio 1000691.1 Original USD$2K$2K<0.1%
FOX FACTORY HOLDING CORP Cusip: 35138V102 Portfolio 1000691.11 USD$83K$2K<0.1%
Portfolio 1000691.10 USD 439,480.82 1.00 439,480.82 0.00$2K<0.1%
S&P 500 R FLAGSHIP NL FUND CM13 Cusip: AB2399603 Portfolio 1000691.5 USD 0.0003$2K<0.1%
Corporate Debt Instruments See attached$15K$1K<0.1%