Original filing (PDF)20251215121651NAL0000694371004

PIPE & REFRIGERATION FITTERS LOCAL 537

Name: PIPE & REFRIGERATION FITTERS LOCAL 537 — PIPEFITTERS UNION LOCAL NO. 537 PENSION FUND, Form 5500 (2024)
Creator: PIPE & REFRIGERATION FITTERS LOCAL 537

Form 5500

FILING_RECEIVED

PIPEFITTERS UNION LOCAL NO. 537 PENSION FUND

Defined-benefit pension plan

Signals · 2

No recordkeeper disclosed44 service providers

Active participants

2,372

Accounts w/ balance

—

Plan assets (EOY)

$962.4M

Net assets (EOY)

$936.5M

How this plan invests

This plan

9 pooled trusts

Schedule D

81 securities

funds · stocks · CUSIPs

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

Plan health score (directional)

/ 100

Grade A

Top-tier plan health

Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.

Compliance & disclosures

100

Concentration risk

100

Total plan cost

Vendor stack

Participation health

100

Knocking points off

56 bps in Schedule C fees — 834% above peer band of 6 bps.
No recordkeeper disclosed on Schedule C.

Decision-maker contacts

CFO / Head of HR / Benefits Manager — verified email + LinkedIn for PIPE & REFRIGERATION FITTERS LOCAL 537.

Plan sponsor

Name

PIPE & REFRIGERATION FITTERS LOCAL 537

DBA

PENSION FUND BOARD OF TRUSTEES

EIN

51-6030859

Address

40 ENTERPRISE STREET, SUITE 463 · DORCHESTER, MA · 021251638

Phone

(617) 787-5550

Industry

Plumbing, Heating, AC Contractors· Constructionsee all

Plan administrator

Same as plan sponsor.

Plan characteristics

Plan number

001

Plan year

2024

Plan year begin

2024-03-01

Tax period

2025-02-28

Filed

2025-12-15

Pension benefit codes

1B · Flat-dollar DB formula

Audit & trust (Schedule H)

Auditor

MANZI & ASSOCIATES

Trustee / custodian

—

Trustee phone

—

Service providers (Schedule C)

44 rows

Other

Name	EIN	Location	Relation	Direct comp	Indirect comp
BOSTON TRUST WALDEN	04-2272811	—	NONE	$1.1M	—
ABS INVESTMENT MANAGEMENT	13-4205457	—	NONE	$355K	—
ZIEGLER CAPITAL MANAGEMENT, LLC	85-0597999	—	NONE	$351K	—
BNY MELLON	25-6078093	—	NONE	$301K	—
BPEA STRATEGIC HEALTHCARE LP	82-3699606	—	NONE	$292K	—
400 CAPITAL MANAGEMENT LLC	84-2312688	—	NONE	$292K	—
TITANIUM	45-4783986	—	NONE	$273K	—
DAVIDSON KEMPNER CAPITAL MANAGEMENT	13-3863161	—	NONE	$268K	—
RENAISSANCE INSTITUTIONAL EQUITIES	33-1117438	—	NONE	$210K	—
NEPC, LLC	26-1429809	—	NONE	$208K	—
INTERCONTINENTAL	04-3613055	—	NONE	$135K	—
SIGULER GUFF	13-3855629	—	NONE	$133K	—
SCHRODER INVESTMENT MANAGEMENT	13-4064414	—	NONE	$111K	—
ULLICO	13-1423090	—	NONE	$107K	—
MESIROW	36-3741067	—	NONE	$99K	—
LOOMIS SAYLES	04-3200030	—	NONE	$98K	—
CBIZ RETIREMENT PLAN SERVICES	31-1582098	—	NONE	$96K	—
SELECT EQUITY GROUP, LP	46-3465710	—	NONE	$90K	—
BRIDGEWAY TECHNOLOGIES	82-3315217	—	NONE	$83K	—
GROSVENOR CAPITAL MANAGEMENT LP	36-3795985	—	NONE	$76K	—
DOVER STREET X FEEDER FUND LP	98-1454470	—	NONE	$72K	—
JP MORGAN	13-6038770	—	NONE	$66K	—
EMPLOYEE F	51-6030859	—	EMPLOYEE	$60K	—
MANZI & ASSOCIATES LLC	04-3508036	—	NONE	$58K	—
INVESTMENT PERFORMANCE SERVICES	58-2432390	—	NONE	$56K	—
KRAKOW & SOURIS	04-3363718	—	NONE	$55K	—
CRESCENT CAPITAL COLLECTIVE INV	32-6471303	—	NONE	$54K	—
RICHMOND CAPITAL MANAGEMENT	85-2598131	—	NONE	$44K	—
TERRACAP PARTNERS IV LP	81-4021164	—	NONE	$34K	—
DOVER STREET IX CAYMAN FUND L.P.	98-1263525	—	NONE	$33K	—
EMPLOYEE G	51-6030859	—	EMPLOYEE	$27K	—
EMPLOYEE E	51-6030859	—	EMPLOYEE	$27K	—
FRONTENAC XI PRIVATE CAPITAL	82-1264977	—	NONE	$25K	—
ENTRUST	90-0644478	—	NONE	$24K	—
EMPLOYEE C	51-6030859	—	EMPLOYEE	$19K	—
EMPLOYEE B	51-6030859	—	EMPLOYEE	$17K	—
NETWORK COVERAGE LLC	35-2508327	—	NONE	$17K	—
EMPLOYEE D	51-6030859	—	EMPLOYEE	$12K	—
NOVAK FRANCELLA LLC	61-1436956	—	NONE	$11K	—
JLS MAILING SERVICES	04-2802793	—	NONE	$11K	—
ASB CAPITAL MANAGEMENT	80-0618452	—	NONE	$10K	—
QUADIENT	94-2388882	—	NONE	$7K	—
BOSTON PARTNERS GLOBAL EQUITY FUND	20-5461810	—	NONE	$0	—
KAYNE ANDERSON CAPITAL ADVISORS	90-0729378	—	NONE	$0	—

Investments

74 direct securities · 9 pooled funds· $206.4M(21% 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.

Common Collective Trust

$105.1M

7 holdings

103-12 Investment Entity

$56.0M

2 holdings

Uncategorized

$45.3M

73 holdings

OTHER

$6K

1 holding

Investment	Type	Shares / units	Cost	Current value	% of plan
NCS GROUP TRUST GLOBAL FUND BNY MELLON INVESTMENT MANAGEMENT CAYMAN LTD · EIN 76-6192146 / PN 003	103-12 Investment Entity	—	—	$41.3M	4.3%
TITANIUM ABSOLUTE RETURN FUND LLC TITANIUM ABSOLUTE RETURN FUND · EIN 45-4783986 / PN 001	Common Collective Trust	—	—	$28.3M	2.9%
ARISTOTLE COLLECTIVE INVESTMENT TRU SEI TRUST COMPANY · EIN 81-2704975 / PN 095	Common Collective Trust	—	—	$24.0M	2.5%
EATON VANCE TRUST COMPANY COLLECTIV EATON VANCE TRUST COMPANY · EIN 32-0225130 / PN 001	Common Collective Trust	—	—	$20.6M	2.1%
RMC CONSTRUCTION MBS OPPORTUNITIES RCM CONSTRUCTION MBS OPPORTUNITIES FUND · EIN 85-2598131 / PN 003	103-12 Investment Entity	—	—	$14.7M	1.5%
BNYM MELLON DB SL INTERMEDIATE GOVE THE BANK OF NEW YORK MELLON · EIN 25-6078093 / PN 001	Common Collective Trust	—	—	$13.9M	1.4%
CRESCENT CAPITAL COLLECTIVE INVESTM GLOBAL TRUST COMPANY · EIN 32-6471303 / PN 001	Common Collective Trust	—	—	$8.8M	0.9%
JPMCB STRATEGIC PROPERTY FUND JPMCB STRATEGIC PROPERTY FUND · EIN 13-6038770 / PN 001	Common Collective Trust	—	—	$5.6M	0.6%
ALCENTRA MUILT-STRATEGY THE BANK OF NEW YORK MELLON · EIN 80-6263676 / PN 001	Common Collective Trust	—	—	$3.9M	0.4%
Taiwan Semiconductor Manufacturing Company Limited Sponsored ADR	—	9,318.975	—	$1.8M	0.2%
Microsoft Corporation	—	3,923.165	—	$1.7M	0.2%
Alphabet, Inc. 'C' Shares	—	7,488.085	—	$1.4M	0.1%
Mastercard, Inc. 'A' Shares	—	2,677.095	—	$1.4M	0.1%
Amphenol Corporation 'A' Shares	—	17,569.584	—	$1.2M	0.1%
Novo Nordisk AS 'B' Shares	—	13,970.99	—	$1.2M	0.1%
Linde Plc	—	2,627.467	—	$1.1M	0.1%
TJX Companies, Inc.	—	8,992.922	—	$1.1M	0.1%
Automatic Data Processing, Inc.	—	3,678.081	—	$1.1M	0.1%
Compass Group Plc	—	31,255.794	—	$1.0M	0.1%
Booking Holdings, Inc.	—	207.468	—	$1.0M	0.1%
Intuitive Surgical, Inc.	—	1,944.84	—	$1.0M	0.1%
Alimentation Couche-Tard, Inc.	—	18,230.045	—	$1.0M	0.1%
Keyence Corporation	—	2,444.151	—	$1.0M	0.1%
Fastenal Company	—	13,691.696	—	$985K	0.1%
Adobe, Inc.	—	2,211.774	—	$984K	0.1%
Fortinet, Inc.	—	10,245.708	—	$968K	0.1%
O'Reilly Automotive, Inc.	—	810.324	—	$961K	<0.1%
Stryker Corporation	—	2,661.409	—	$958K	<0.1%
Industria de Diseño Textil SA	—	18,572.809	—	$955K	<0.1%
AIA Group Limited	—	122,425.094	—	$887K	<0.1%
Texas Instruments, Inc.	—	4,697.986	—	$881K	<0.1%
Paychex, Inc.	—	6,235.078	—	$874K	<0.1%
Cisco Systems, Inc.	—	14,585.575	—	$863K	<0.1%
LVMH Moët Hennessy Louis Vuitton SE	—	1,234.404	—	$812K	<0.1%
ResMed, Inc.	—	3,550.29	—	$812K	<0.1%
Costco Wholesale Corporation	—	884.577	—	$811K	<0.1%
Roche Holding AG	—	2,812.485	—	$793K	<0.1%
Edwards Lifesciences Corporation	—	10,683.771	—	$791K	<0.1%
Old Dominion Freight Line, Inc.	—	4,230.079	—	$746K	<0.1%
Copart, Inc.	—	12,612.042	—	$724K	<0.1%
CSL Limited	—	4,147.785	—	$723K	<0.1%
L'Oréal SA	—	2,017.927	—	$714K	<0.1%
ASML Holding NV	—	997.928	—	$701K	<0.1%
Experian Plc	—	16,190.709	—	$699K	<0.1%
STIGA A1 SHARES	—	—	—	$697K	<0.1%
Shin-Etsu Chemical Company Limited	—	20,545.017	—	$692K	<0.1%
NIKE, Inc. 'B' Shares	—	8,998.298	—	$681K	<0.1%
West Pharmaceutical Services, Inc.	—	2,057.655	—	$674K	<0.1%
Canadian National Railway Company	—	6,337.551	—	$643K	<0.1%
Ferguson Enterprises, Inc.	—	3,112.021	—	$540K	<0.1%
Waters Corporation	—	1,421.44	—	$527K	<0.1%
Visa, Inc. 'A' Shares	—	1,636.412	—	$517K	<0.1%
Moody's Corporation	—	1,087.789	—	$515K	<0.1%
Mettler-Toledo International, Inc.	—	392.55	—	$480K	<0.1%
EB HOLDING - CLASS B	—	—	$621K	$474K	<0.1%
Cognizant Technology Solutions Corporation 'A' Shares	—	5,862.314	—	$451K	<0.1%
FINANCIERE TRUCK (INVESTISSEMENT) SAS/TERM LOAN-TL	—	—	$348K	$442K	<0.1%
Lonza Group AG	—	745.687	—	$441K	<0.1%
SMC Corporation	—	1,049.953	—	$415K	<0.1%
FINANCIERE TRUCK (INVESTISSEMENT) SAS/SUPER SENIOR BONDS-TL	—	—	$440K	$414K	<0.1%
FRAIK COM EQUITY	—	—	—	$393K	<0.1%
STIGA C SARL/FACILITY B1-TL	—	—	$324K	$328K	<0.1%
STIGA A3 SHARES	—	—	—	$229K	<0.1%
NEW LOOK CORPORATE LIMITED/PIK FACILITY-TL	—	—	$198K	$197K	<0.1%
FLINT GROUP PACKAGING INKS NORTH AMERICA HOLDINGS LLC/2ND LIEN FACILITY B-TL	—	—	$1.3M	$177K	<0.1%
NEW LOOK CORPORATE LIMITED/PIK TERM LOAN-TL	—	—	$166K	$175K	<0.1%
CATALINA MARKETING CORPORATION/EXIT FACILITY-TL	—	—	$153K	$156K	<0.1%
CATALINA MARKETING	—	—	$233K	$113K	<0.1%
GOLDMAN SACHS FORWARD FOREIGN CURRENCY CONTRACTS	—	—	—	$53K	<0.1%
NOVARTEX FIDUXCO SCA CLASS A-I	—	—	$945K	$41K	<0.1%
NEW LOOK CORPORATE LIMITED/SHAREHOLDER LOAN-TL	—	—	$62K	$25K	<0.1%
ALPHABET SHARES	—	—	$2K	$22K	<0.1%
ASSETS	OTHER	—	$6K	$6K	<0.1%
DEBENHAMS PLC/REVOLVER NON-PIK-RL	—	—	$268K	$4K	<0.1%
VIVARTE FIDUXCO SHARES	—	—	—	$1K	<0.1%
MALIN 2007-1X F	—	—	$54	$1K	<0.1%
OFFSHORE DRILLING HOLDING SA 8.375 20200920	—	—	$9K	$869	<0.1%
NEW WORLD RESOURCES NV 04/07/2020 DEFAULTED	—	—	$401K	$866	<0.1%
DUCHS VII-X F	—	—	$0	$422	<0.1%
NEW WORLD RESOURCES NV 07/10/2020 DEFAULTED	—	—	$73K	$0	<0.1%
GALA ELECTRIC CASINOS A2 SHS	—	—	$327K	$0	<0.1%
NEW WORLD RESOURCES PLC/SUPER SENIOR TERM FACILITY-TL	—	—	$276K	$0	<0.1%
GALA ELECTRIC CASINOS A3 SHS	—	—	$327K	$0	<0.1%