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Original filing (PDF)20251014183615NAL0001762979001
NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION
Form 5500
FILING_RECEIVED
RETIREMENT SECURITY PLAN
Defined-benefit pension plan
Signals · 3
30% employer stockNo recordkeeper disclosed75 service providers
Active participants
56,128
Accounts w/ balance
—
Plan assets (EOY)
$11.5B
Net assets (EOY)
$11.5B
How this plan invests
This plan
8 pooled trusts
Schedule D
2,351 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
83
/ 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
100
Concentration risk
75
Total plan cost
65
Vendor stack
68
Participation health
100
Knocking points off
- 30% of plan in employer / sponsor stock.
- 23 bps in Schedule C fees — 356% above peer band of 5 bps.
- No recordkeeper disclosed on Schedule C.
- Highly fragmented vendor stack (75 disclosed providers, 7 categories).
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION.
Plan sponsor
Name
NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION
EIN
53-0116145
Address
4301 WILSON BLVD · ARLINGTON, VA · 22203
Phone
(703) 907-6021
Industry
Utilitiessee all
Plan administrator
Name
SENIOR VICE PRESIDENT, INSURANCE & FINANCIAL SERVICES
EIN
54-2072724
City
ARLINGTON, VA
Phone
(703) 907-5743
Plan characteristics
Plan number
333
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-10-14
Pension benefit codes
3F · Sponsor used leased employees
1C · Cash balance or similar hybrid DB
3H · Sponsor in controlled / affiliated group
1A · Pay-related DB formula
Audit & trust (Schedule H)
Auditor
CLIFTONLARSONALLEN LLP
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
75 rowsAdvisor / Consultant
37| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| ARROWSTREET CAPITAL LIMITED PARTNER | 04-3472863 | — | INVESTMENT MANAGEMENT | $3.0M | — |
| LSV ASSET MANAGEMENT | 23-2772200 | — | INVESTMENT MANAGEMENT | $2.8M | — |
| EXCELLA INC | 54-2062249 | — | CONSULTANT | $2.5M | — |
| JENNISON ASSOCIATES LLC | 52-2069785 | — | INVESTMENT MANAGEMENT | $1.9M | — |
| DECISIONPATH CONSULTING | 54-1059055 | — | CONSULTANT | $1.4M | — |
| BAILLIE GIFFORD OVERSEAS LIMITED | 22-3438530 | — | INVESTMENT MANAGEMENT | $1.3M | — |
| CAPITAL BANK AND TRUST COMPANY | 95-4797716 | — | INVESTMENT MANAGEMENT | $1.3M | — |
| RBC GLOBAL ASSET MANAGEMENT US INC | 41-1460668 | — | INVESTMENT MANAGEMENT | $1.3M | — |
| T ROWE PRICE ASSOCIATES INC | 52-0556948 | — | INVESTMENT MANAGEMENT | $1.1M | — |
| EXPERIS IT SERVICES US LLC | 75-1300240 | — | CONSULTANT | $1.0M | — |
| OPTOMI LLC | 30-0747677 | — | CONSULTANT | $927K | — |
| CAPRICORN SYSTEMS INC | 58-2514176 | — | CONSULTANT | $536K | — |
| SPEAR SOLUTIONS INC | 27-1974099 | — | CONSULTANT | $487K | — |
| PRUDENTIAL TRUST COMPANY | 23-6994310 | — | INVESTMENT MANAGEMENT | $470K | — |
| NEUBERGER BERMAN GROUP LLC | 02-0654486 | — | INVESTMENT MANAGEMENT | $446K | — |
| WELLINGTON MANAGEMENT COMPANY LLP | 47-1167553 | — | INVESTMENT MANAGEMENT | $397K | — |
| STATE STREET GLOBAL ADVISORS TRUST | 81-4017137 | — | INVESTMENT MANAGEMENT | $368K | — |
| RVK INC | 93-0910652 | — | CONSULTANT | $354K | — |
| ASKIA LLC | 20-5385739 | — | CONSULTANT | $275K | — |
| CONVERGENZ LLC | 52-2254225 | — | CONSULTANT | $270K | — |
| PALADIN CONSULTING | 75-1932160 | — | CONSULTANT | $245K | — |
| DAVIS COMPANIES | 04-3181433 | — | CONSULTANT | $184K | — |
| SIGNATURE COMMERCIAL SOLUTIONS LLC | 27-0221186 | — | CONSULTANT | $126K | — |
| ROBERT HALF | 94-1648752 | — | CONSULTANT | $97K | — |
| SPECTRUM FINANCIAL SERVICES | 54-1851893 | — | CONSULTANT | $95K | — |
| USM BUSINESS SYSTEMS INC | 48-1215361 | — | CONSULTANT | $92K | — |
| BLACKROCK FINANCIAL MANAGEMENT INC | 13-3806691 | — | INVESTMENT MANAGEMENT | $80K | — |
| CHESAPEAKE BENEFIT PARTNERS LLC | 20-1553820 | — | CONSULTANT | $58K | — |
| ASTON CARTER INC | 38-3858542 | — | CONSULTANT | $57K | — |
| SIRIUS COMPUTER SOLUTIONS INC | 74-2836721 | — | CONSULTANT | $49K | — |
| NEWPORT TRUST COMPANY | 27-4411131 | — | CONSULTANT | $40K | — |
| INTERNATIONAL SOFTWARE SYSTEMS INC | 52-1915109 | — | CONSULTANT | $38K | — |
| REASONN LLC | 85-2524125 | — | CONSULTANT | $32K | — |
| ZOVAYA CORPORATION | 26-0039705 | — | CONSULTANT | $20K | — |
| PROTIVITI INC | 04-3661951 | — | CONSULTANT | $16K | — |
| DEXIAN LLC | 45-5636447 | — | CONSULTANT | $13K | — |
| ALKU TECHNOLOGIES LLC | 26-4087396 | — | CONSULTANT | $5K | — |
Broker
25| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| LOCKTON COMPANIES | 20-3354970 | — | INSURANCE AGENT | $547K | — |
| COWEN AND COMPANY | 13-5616116 | — | BROKER | $0 | — |
| JP MORGAN SECURITIES LLC | 13-4110955 | — | BROKER | $0 | — |
| MORGAN STANLEY CO INCORPORATED | 13-2655998 | — | BROKER | $0 | — |
| JEFFERIES INTERNATIONAL LTD | 93-0236990 | — | BROKER | $0 | — |
| CITIGROUP GLOBAL MARKETS LIMITED | 01-1241819 | — | BROKER | $0 | — |
| UBS AG | 98-0186363 | — | BROKER | $0 | — |
| RAYMOND JAMES AND ASSOCIATES | 59-1237041 | — | BROKER | $0 | — |
| GOLDMAN SACHS AND CO | 13-4019460 | — | BROKER | $0 | — |
| MERRILL LYNCH INTERNATIONAL | 13-3779485 | — | BROKER | $0 | — |
| JEFFERIES LLC | 22-3660471 | — | BROKER | $0 | — |
| BARCLAYS CAPITAL LE | 13-1031656 | — | BROKER | $0 | — |
| WELLS FARGO SECURITIES | 34-1542819 | — | BROKER | $0 | — |
| GOLDMAN SACHS INTERNATIONAL | 52-1920124 | — | BROKER | $0 | — |
| NATIONAL FINANCIAL SECURITIES CORP | 04-3523567 | — | BROKER | $0 | — |
| EVERCORE ISI | 20-4748747 | — | BROKER | $0 | — |
| RBC CAPITAL MARKETS | 13-5033225 | — | BROKER | $0 | — |
| MORGAN STANLEY AND CO INTERNATIONAL | 98-0196143 | — | BROKER | $0 | — |
| BTIG LLC | 04-3695739 | — | BROKER | $0 | — |
| ROBERT W BAIRD CO INCOPORATED | 39-6037917 | — | BROKER | $0 | — |
| BOFA SECURITIES | 47-4921463 | — | BROKER | $0 | — |
| PIPER JAFFRAY AND CO | 30-0168701 | — | BROKER | $0 | — |
| JP MORGAN SECURITIES ASIA PACIFIC | — | — | BROKER | $0 | — |
| UBS SECURITIES | 13-3813456 | — | BROKER | $0 | — |
| BNP PARIBAS SECURITIES | 13-3235334 | — | BROKER | $0 | — |
Trustee
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| STATE STREET BANK | 04-1867445 | — | TRUSTEE | $430K | — |
Accountant / Auditor
3| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| ENTERPRISE IRON FIS INC | 24-1550013 | — | ACCOUNTING | $220K | — |
| BDO USA LLP | 13-5381590 | — | ACCOUNTING | $112K | — |
| CLIFTONLARSONALLEN LLP | 41-0746749 | — | AUDITOR | $65K | — |
Actuary
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| WILLIS TOWERS WATSON US LLC | 53-0181291 | — | ACTUARY | $1.0M | — |
Legal counsel
3| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| GROOM LAW GROUP CHARTERED | 52-1219029 | — | LEGAL | $96K | — |
| WILLKIE FARR AND GALLAGHER LLP | 13-5536844 | — | LEGAL | $88K | — |
| THOMPSON HINE LLP | 34-0575300 | — | LEGAL | $63K | — |
Other
5| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| PINNACLE DATA SYSTEMS LLC | 63-1216795 | — | PARTICIPANT COMMUNICATION | $77K | — |
| ADP INC | 13-3036745 | — | OTHER SERVICES | $31K | — |
| BLOOMBERG FINANCE LP | 13-3417984 | — | COMPUTER SERVICES | $20K | — |
| WELLS FARGO BANK | 94-1347393 | — | OTHER FEES | $19K | — |
| NASDAQ INFORMATION LLC | 26-3100306 | — | COMPUTER SERVICES | $12K | — |
Investments
1,724 direct securities · 8 pooled funds· $9.1B(79% 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
$6.4B
1724 holdings
Common Collective Trust
$2.6B
8 holdings
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| US AGGREGATE BOND INDX NL FUND STATE STREET BANK · EIN 04-0025081 / PN 070 | Common Collective Trust | — | $889.6M | $906.0M | 7.9% | |
| ARROWSTREET GLOBAL EQUITY ACWI ARROWSTREET CAPITAL LP · EIN 37-6607043 / PN 001 | Common Collective Trust | — | $248.4M | $706.4M | 6.2% | |
| ADAMS STREET RSP LP 358,976,861.000 | — | — | $359.0M | $674.2M | 5.9% | |
| LSV INTL VALUE EQUITY FUND LP INTERNATIONAL VALUE EQUITY FD 2,359,895.836 | — | — | $304.1M | $598.6M | 5.2% | |
| 463,173,047.32(G) COST OF ASSET | — | — | — | $463.2M | 4.0% | |
| ADAMS STREET RSP II LP 325,741,194.000 | — | — | $325.7M | $430.3M | 3.7% | |
| CG INTL ALL CNTRY EQ TRST CAPITAL CAPITAL BANK AND TRUST COMPANY · EIN 95-4154357 / PN 000 | Common Collective Trust | — | $340.8M | $314.3M | 2.7% | |
| (I) GAIN/LOSS PLAN YEAR ENDING: 12/31/24 MAT DATE (H) CURR VALUE 1,269,433,817. | — | — | $1.3B | $269.4M | 2.3% | |
| MORGAN STAN PRIME PROP FD LLC REIT 2,411,084.351 | — | — | $2.4M | $243.5M | 2.1% | |
| PGIM TOTAL RETURN US HEDGED FD PRUDENTIAL TRUST COMPANY · EIN 23-6994310 / PN 234 | Common Collective Trust | — | $231.3M | $234.9M | 2.0% | |
| GLOBAL MULTI SECTOR BOND TR Z T ROWE PRICE TRUST COMPANY · EIN 84-2700565 / PN 001 | Common Collective Trust | — | $158.0M | $174.3M | 1.5% | |
| MICROSOFT CORP COMMON STOCK USD.00000625 358,902.000 | — | — | $108.0M | $151.3M | 1.3% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- NVIDIA CORP COMMON STOCK USD.001 1,081,418.000 | — | — | $87.8M | $145.2M | 1.3% | |
| MSCI ACWI INDEX NL FUND STATE STREET BANK · EIN 32-6528132 / PN 042 | Common Collective Trust | — | $117.8M | $138.5M | 1.2% | |
| APPLE INC COMMON STOCK USD.00001 520,562.000 | — | — | $98.6M | $130.4M | 1.1% | |
| PROLOGIS TARGETED U.S LOGISTIC 42,903.837 | — | — | $71K | $119.8M | 1.0% | |
| WARBURG PINCUS GLOB GROWTH LP 75,755,257.720 | — | — | $75.8M | $116.5M | 1.0% | |
| INVESCO US INCOME FUND LP 74,960.760 | — | — | $144K | $111.6M | 1.0% | |
| AMAZON.COM INC COMMON STOCK USD.01 458,999.000 | — | — | $61.2M | $100.7M | 0.9% | |
| RUSSELL SMALL CAP INDEX NL SF CL STATE STREET BANK · EIN 04-0025081 / PN 096 | Common Collective Trust | — | $88.2M | $89.8M | 0.8% | |
| META PLATFORMS INC CLASS A COMMON STOCK USD.000006 143,527.000 | — | — | $52.1M | $84.0M | 0.7% | |
| MSCI ACWI EX USA INDEX FUND STATE STREET BANK · EIN 90-0337987 / PN 159 | Common Collective Trust | — | $55.2M | $80.0M | 0.7% | |
| AXONIC SPECIAL OPPORTUNITIES S 35,396.229 | — | — | $63K | $64.4M | 0.6% | |
| BROADCOM INC COMMON STOCK 261,841.000 | — | — | $37.7M | $60.7M | 0.5% | |
| IFM GLOBAL INFRA (OFFSHORE) LP LIMITED PARTNERSHIP 50,000,000.000 | — | — | $50.0M | $51.8M | 0.5% | |
| ALPHABET INC CL C COMMON STOCK USD.001 261,728.000 | — | — | $30.5M | $49.8M | 0.4% | |
| AG DIRECT LENDING EVERGREEN FD LIMITED PARTNERSHIP 49,752,984.000 | — | — | $49.8M | $49.5M | 0.4% | |
| TESLA INC COMMON STOCK USD.001 115,804.000 | — | — | $18.8M | $46.8M | 0.4% | |
| GREYSTAR EQUITY PARTNERS X 43,965,428.000 | — | — | $44.0M | $45.9M | 0.4% | |
| VISA INC CLASS A SHARES COMMON STOCK USD.0001 135,537.000 | — | — | $22.1M | $42.8M | 0.4% | |
| ALPHABET INC CL A COMMON STOCK USD.001 225,340.000 | — | — | $30.9M | $42.7M | 0.4% | |
| BELL INSTITUTIONAL FD VII LP 42,109,565.680 | — | — | $42.1M | $41.3M | 0.4% | |
| OWL ROCK DIV LENDING 20 FD OS LIMITED PARTNERSHIP 39,718,905.620 | — | — | $39.7M | $38.5M | 0.3% | |
| NETFLIX INC COMMON STOCK USD.001 43,145.000 | — | — | $20.2M | $38.5M | 0.3% | |
| AEW SENIOR HOUSING IV 43,932,303.370 | — | — | $43.9M | $35.5M | 0.3% | |
| ARES PATHFINDER CORE FUND LP LIMITED PARTNERSHIP 35,242,835.760 | — | — | $35.2M | $35.3M | 0.3% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- HOME DEPOT INC COMMON STOCK USD.05 90,607.000 | — | — | $25.6M | $35.2M | 0.3% | |
| ATALAYA AIF EVERGREEN LP 36,108,098.190 | — | — | $36.1M | $34.3M | 0.3% | |
| PARKER HANNIFIN CORP COMMON STOCK USD.5 51,674.000 | — | — | $14.2M | $32.9M | 0.3% | |
| DEERPATH CAPITAL V LP LIMITED PARTNERSHIP 32,500,000.000 | — | — | $32.5M | $32.3M | 0.3% | |
| WARBURG PINCUS XII LP 15,369,691.000 | — | — | $15.4M | $31.3M | 0.3% | |
| GOLDMAN SACHS GROUP INC COMMON STOCK USD.01 54,459.000 | — | — | $16.0M | $31.2M | 0.3% | |
| WARBURG PINCUS GLO GRWTH 14 LP LIMITED PARTNERSHIP 26,190,530.730 | — | — | $26.2M | $30.1M | 0.3% | |
| ELI LILLY + CO COMMON STOCK 38,385.000 | — | — | $23.5M | $29.6M | 0.3% | |
| EXXON MOBIL CORP COMMON STOCK 275,087.000 | — | — | $31.6M | $29.6M | 0.3% | |
| FIRST EAGLE DIRECT LENDING LLC LIMITED PARTNERSHIP 35,718,906.230 | — | — | $48.5M | $29.2M | 0.3% | |
| ABBVIE INC COMMON STOCK USD.01 160,946.000 | — | — | $21.6M | $28.6M | 0.2% | |
| WALT DISNEY CO/THE COMMON STOCK USD.01 249,975.000 | — | — | $24.7M | $27.8M | 0.2% | |
| UNITEDHEALTH GROUP INC COMMON STOCK USD.01 53,164.000 | — | — | $27.3M | $26.9M | 0.2% | |
| FISERV INC COMMON STOCK USD.01 125,863.000 | — | — | $14.9M | $25.9M | 0.2% | |
| PROCTER + GAMBLE CO/THE COMMON STOCK 151,477.000 | — | — | $24.9M | $25.4M | 0.2% | |
| CHUBB LTD COMMON STOCK 89,054.000 | — | — | $17.5M | $24.6M | 0.2% | |
| MASTERCARD INC A COMMON STOCK USD.0001 46,503.000 | — | — | $14.3M | $24.5M | 0.2% | |
| AXONIC SPECIAL OPPORTUNITIES S OVERSEAS FUND LTD. 0 15 FE 15,000.000 | — | — | $24K | $24.0M | 0.2% | |
| BERKSHIRE HATHAWAY INC CL B COMMON STOCK USD.0033 50,597.000 | — | — | $23.5M | $22.9M | 0.2% | |
| EATON CORP PLC COMMON STOCK USD.01 68,091.000 | — | — | $12.3M | $22.6M | 0.2% | |
| ABBOTT LABORATORIES COMMON STOCK 198,749.000 | — | — | $13.0M | $22.5M | 0.2% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- SALESFORCE INC COMMON STOCK USD.001 67,022.000 | — | — | $12.7M | $22.4M | 0.2% | |
| BANK OF AMERICA CORP COMMON STOCK USD.01 507,543.000 | — | — | $13.8M | $22.3M | 0.2% | |
| COSTCO WHOLESALE CORP COMMON STOCK USD.005 24,092.000 | — | — | $13.4M | $22.1M | 0.2% | |
| WALMART INC COMMON STOCK USD.1 220,797.000 | — | — | $17.4M | $19.9M | 0.2% | |
| BOSTON SCIENTIFIC CORP COMMON STOCK USD.01 220,652.000 | — | — | $11.4M | $19.7M | 0.2% | |
| TAIWAN SEMICONDUCTOR SP ADR 95,074.000 | — | — | $9.6M | $18.8M | 0.2% | |
| CONOCOPHILLIPS COMMON STOCK USD.01 183,362.000 | — | — | $17.6M | $18.2M | 0.2% | |
| MERCK + CO. INC. COMMON STOCK USD.5 173,489.000 | — | — | $14.2M | $17.3M | 0.2% | |
| CITIGROUP INC COMMON STOCK USD.01 230,502.000 | — | — | $13.3M | $16.2M | 0.1% | |
| BELL VALUE ADD FUND VIII, L.P. LIMITED PARTNERSHIP 17,278,308.370 | — | — | $17.3M | $16.0M | 0.1% | |
| LAM RESEARCH CORP COMMON STOCK USD.001 218,383.000 | — | — | $12.0M | $15.8M | 0.1% | |
| MCDONALD S CORP COMMON STOCK USD.01 54,330.000 | — | — | $13.1M | $15.7M | 0.1% | |
| MERCADOLIBRE INC COMMON STOCK USD.001 8,872.000 | — | — | $11.9M | $15.1M | 0.1% | |
| ORACLE CORP COMMON STOCK USD.01 90,144.000 | — | — | $11.4M | $15.0M | 0.1% | |
| SERVICENOW INC COMMON STOCK USD.001 13,575.000 | — | — | $8.6M | $14.4M | 0.1% | |
| SC CORE FUND L.P 14,199,527.910 | — | — | $14.2M | $14.1M | 0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- SAFRAN SA COMMON STOCK EUR.2 63,841.000 | — | — | $9.3M | $14.0M | 0.1% | |
| DIGITAL REALTY TRUST INC REIT USD.01 75,114.000 | — | — | $9.6M | $13.3M | 0.1% | |
| DIAMONDBACK ENERGY INC COMMON STOCK USD.01 77,508.000 | — | — | $12.3M | $12.7M | 0.1% | |
| THE CIGNA GROUP COMMON STOCK USD.01 45,109.000 | — | — | $9.8M | $12.5M | 0.1% | |
| ADOBE INC COMMON STOCK USD.0001 27,793.000 | — | — | $7.8M | $12.4M | 0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- NJ09 02079K107 | — | — | $3.3M | $12.4M | 0.1% | |
| INTUIT INC COMMON STOCK USD.01 19,268.000 | — | — | $11.1M | $12.1M | 0.1% | |
| UNILEVER PLC COMMON STOCK GBP.00031111 211,679.000 | — | — | $11.5M | $12.1M | 0.1% | |
| ACCENTURE PLC CL A COMMON STOCK USD.0000225 34,124.000 | — | — | $11.3M | $12.0M | 0.1% | |
| RECRUIT HOLDINGS CO LTD COMMON STOCK 167,800.000 | — | — | $10.9M | $11.9M | 0.1% | |
| NXP SEMICONDUCTORS NV COMMON STOCK EUR.2 56,677.000 | — | — | $7.8M | $11.8M | 0.1% | |
| ALLSTATE CORP COMMON STOCK USD.01 60,820.000 | — | — | $5.0M | $11.7M | 0.1% | |
| BRISTOL MYERS SQUIBB CO COMMON STOCK USD.1 203,745.000 | — | — | $8.3M | $11.5M | 0.1% | |
| DUPONT DE NEMOURS INC COMMON STOCK USD.01 148,371.000 | — | — | $8.5M | $11.3M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- NJ09 | — | — | $9.0M | $11.1M | <0.1% | |
| RFE INVESTMENT PARTNERS VIII L LIMITED PARTNERSHIP 9,909,708.700 | — | — | $9.9M | $11.0M | <0.1% | |
| FREEPORT MCMORAN INC COMMON STOCK USD.1 284,060.000 | — | — | $9.0M | $10.8M | <0.1% | |
| CRH PLC COMMON STOCK EUR.32 115,977.000 | — | — | $9.5M | $10.7M | <0.1% | |
| INTUITIVE SURGICAL INC COMMON STOCK USD.001 20,211.000 | — | — | $7.0M | $10.5M | <0.1% | |
| AIA GROUP LTD COMMON STOCK 1,445,570.000 | — | — | $15.4M | $10.5M | <0.1% | |
| NOVO NORDISK A/S B COMMON STOCK DKK.1 116,791.000 | — | — | $8.9M | $10.1M | <0.1% | |
| INTERCONTINENTAL EXCHANGE IN COMMON STOCK USD.01 66,638.000 | — | — | $10.8M | $9.9M | <0.1% | |
| CADENCE DESIGN SYS INC COMMON STOCK USD.01 32,971.000 | — | — | $7.9M | $9.9M | <0.1% | |
| VERTEX PHARMACEUTICALS INC COMMON STOCK USD.01 24,440.000 | — | — | $9.7M | $9.8M | <0.1% | |
| CROWN CASTLE INC REIT USD.01 107,641.000 | — | — | $11.2M | $9.8M | <0.1% | |
| HCA HEALTHCARE INC COMMON STOCK USD.01 32,363.000 | — | — | $9.7M | $9.7M | <0.1% | |
| MCKESSON CORP COMMON STOCK USD.01 16,275.000 | — | — | $9.6M | $9.3M | <0.1% | |
| UBER TECHNOLOGIES INC COMMON STOCK USD.00001 153,146.000 | — | — | $8.4M | $9.2M | <0.1% | |
| AUTOZONE INC COMMON STOCK USD.01 2,765.000 | — | — | $6.2M | $8.9M | <0.1% | |
| UNITED OVERSEAS BANK LTD COMMON STOCK 324,658.000 | — | — | $5.7M | $8.6M | <0.1% | |
| BLACKSTONE INC COMMON STOCK USD.00001 49,785.000 | — | — | $5.6M | $8.6M | <0.1% | |
| PULTEGROUP INC COMMON STOCK USD.01 78,699.000 | — | — | $8.4M | $8.6M | <0.1% | |
| GENERAL ELECTRIC COMMON STOCK USD.01 50,448.000 | — | — | $8.5M | $8.4M | <0.1% | |
| 342 RATE | — | — | $538.2M | $8.2M | <0.1% | |
| INTERCONTINENTAL HOTELS GROU COMMON STOCK GBP.2085213 65,459.000 | — | — | $4.1M | $8.2M | <0.1% | |
| CENTENE CORP COMMON STOCK USD.001 134,265.000 | — | — | $8.5M | $8.1M | <0.1% | |
| ROYALTY PHARMA PLC CL A COMMON STOCK 315,325.000 | — | — | $11.4M | $8.0M | <0.1% | |
| TRADE DESK INC/THE CLASS A COMMON STOCK USD.000001 67,638.000 | — | — | $4.2M | $7.9M | <0.1% | |
| SPOTIFY TECHNOLOGY SA COMMON STOCK EUR.000625 17,332.000 | — | — | $5.3M | $7.8M | <0.1% | |
| ABB LTD REG COMMON STOCK CHF.12 142,019.000 | — | — | $7.9M | $7.7M | <0.1% | |
| FERRARI NV COMMON STOCK EUR.01 17,897.000 | — | — | $3.9M | $7.6M | <0.1% | |
| MOODY S CORP COMMON STOCK USD.01 16,040.000 | — | — | $6.0M | $7.6M | <0.1% | |
| GE HEALTHCARE TECHNOLOGY COMMON STOCK USD.01 94,488.000 | — | — | $8.5M | $7.4M | <0.1% | |
| ANALOG DEVICES INC COMMON STOCK USD.167 33,828.000 | — | — | $7.5M | $7.2M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- SHOPIFY INC CLASS A COMMON STOCK 67,344.000 | — | — | $3.2M | $7.2M | <0.1% | |
| WESTBROOK RE FUND X LP LIMITED PARTNERSHIP 14,374,679.000 | — | — | $14.4M | $7.0M | <0.1% | |
| CHEVRON CORP COMMON STOCK USD.75 47,536.000 | — | — | $6.9M | $6.9M | <0.1% | |
| PROSUS NV COMMON STOCK EUR.05 171,041.000 | — | — | $5.6M | $6.8M | <0.1% | |
| COCA COLA CO/THE COMMON STOCK USD.25 107,673.000 | — | — | $7.7M | $6.7M | <0.1% | |
| O REILLY AUTOMOTIVE INC COMMON STOCK USD.01 5,641.000 | — | — | $5.6M | $6.7M | <0.1% | |
| TRANSUNION COMMON STOCK USD.01 70,810.000 | — | — | $6.4M | $6.6M | <0.1% | |
| CISCO SYSTEMS INC COMMON STOCK USD.001 110,645.000 | — | — | $5.5M | $6.6M | <0.1% | |
| AIRBNB INC CLASS A COMMON STOCK USD.0001 49,544.000 | — | — | $7.2M | $6.5M | <0.1% | |
| PALO ALTO NETWORKS INC COMMON STOCK USD.0001 35,407.000 | — | — | $5.9M | $6.4M | <0.1% | |
| MAKEMYTRIP LTD COMMON STOCK 56,588.000 | — | — | $3.1M | $6.4M | <0.1% | |
| WARBURG PINCUS XI LP LIMITED PARTNERSHIP 2,293,744.660 | — | — | $2.3M | $6.3M | <0.1% | |
| TECHTRONIC INDUSTRIES CO LTD COMMON STOCK 471,503.000 | — | — | $4.1M | $6.2M | <0.1% | |
| ATLAS COPCO AB A SHS COMMON STOCK SEK.16 405,914.000 | — | — | $2.7M | $6.2M | <0.1% | |
| NOVO NORDISK A/S SPONS ADR 71,491.000 | — | — | $3.9M | $6.1M | <0.1% | |
| CHENIERE ENERGY INC COMMON STOCK USD.003 27,788.000 | — | — | $5.0M | $6.0M | <0.1% | |
| KEYENCE CORP COMMON STOCK 14,189.000 | — | — | $5.6M | $5.8M | <0.1% | |
| NATIONAL GRID PLC COMMON STOCK GBP.1243129 487,270.000 | — | — | $5.9M | $5.8M | <0.1% | |
| PEPSICO INC COMMON STOCK USD.017 38,061.000 | — | — | $6.6M | $5.8M | <0.1% | |
| DATADOG INC CLASS A COMMON STOCK USD.00001 39,321.000 | — | — | $4.8M | $5.6M | <0.1% | |
| INTL BUSINESS MACHINES CORP COMMON STOCK USD.2 25,361.000 | — | — | $5.0M | $5.6M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- LINDE PLC COMMON STOCK 13,278.000 | — | — | $6.3M | $5.6M | <0.1% | |
| ICICI BANK LTD SPON ADR 183,300.000 | — | — | $5.0M | $5.5M | <0.1% | |
| AUTO TRADER GROUP PLC COMMON STOCK GBP.01 547,824.000 | — | — | $3.2M | $5.4M | <0.1% | |
| HERMES INTERNATIONAL COMMON STOCK 2,243.000 | — | — | $2.9M | $5.4M | <0.1% | |
| HILTON WORLDWIDE HOLDINGS IN COMMON STOCK USD.01 21,665.000 | — | — | $4.6M | $5.4M | <0.1% | |
| TENCENT HOLDINGS LTD COMMON STOCK HKD.00002 98,600.000 | — | — | $5.0M | $5.3M | <0.1% | |
| GAMES WORKSHOP GROUP PLC COMMON STOCK GBP.05 31,639.000 | — | — | $4.6M | $5.3M | <0.1% | |
| KRAFT HEINZ CO/THE COMMON STOCK USD.01 169,521.000 | — | — | $6.4M | $5.2M | <0.1% | |
| PHILIP MORRIS INTERNATIONAL COMMON STOCK 43,025.000 | — | — | $5.3M | $5.2M | <0.1% | |
| ADYEN NV COMMON STOCK EUR.01 3,466.000 | — | — | $5.2M | $5.2M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- NJ21 | — | — | $5.8M | $4.9M | <0.1% | |
| EXPERIAN PLC COMMON STOCK USD.1 114,056.000 | — | — | $4.4M | $4.9M | <0.1% | |
| APPLOVIN CORP CLASS A COMMON STOCK USD.00003 15,006.000 | — | — | $3.2M | $4.9M | <0.1% | |
| QUALCOMM INC COMMON STOCK USD.0001 30,862.000 | — | — | $5.3M | $4.7M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- NJJL | — | — | $5.3M | $4.7M | <0.1% | |
| VERTIV HOLDINGS CO A COMMON STOCK USD.0001 41,595.000 | — | — | $4.2M | $4.7M | <0.1% | |
| MARRIOTT INTERNATIONAL CL A COMMON STOCK USD.01 16,829.000 | — | — | $3.5M | $4.7M | <0.1% | |
| VERIZON COMMUNICATIONS INC COMMON STOCK USD.1 116,260.000 | — | — | $4.8M | $4.6M | <0.1% | |
| AMERICAN EXPRESS CO COMMON STOCK USD.2 15,589.000 | — | — | $4.0M | $4.6M | <0.1% | |
| BOOKING HOLDINGS INC COMMON STOCK USD.008 916.000 | — | — | $3.6M | $4.6M | <0.1% | |
| ASTRAZENECA PLC SPONS ADR 68,839.000 | — | — | $4.8M | $4.5M | <0.1% | |
| HDFC BANK LTD ADR 67,693.000 | — | — | $4.5M | $4.3M | <0.1% | |
| SAP SE COMMON STOCK 17,586.000 | — | — | $4.2M | $4.3M | <0.1% | |
| COMPASS GROUP PLC COMMON STOCK GBP.1105 127,600.000 | — | — | $3.0M | $4.3M | <0.1% | |
| LKQ CORP COMMON STOCK USD.01 115,229.000 | — | — | $5.6M | $4.2M | <0.1% | |
| PALANTIR TECHNOLOGIES INC A COMMON STOCK USD.001 55,575.000 | — | — | $1.7M | $4.2M | <0.1% | |
| BLACKROCK INC COMMON STOCK USD.01 4,085.000 | — | — | $3.6M | $4.2M | <0.1% | |
| HALEON PLC COMMON STOCK GBP.01 883,205.000 | — | — | $4.2M | $4.2M | <0.1% | |
| DANAHER CORP COMMON STOCK USD.01 17,877.000 | — | — | $4.8M | $4.1M | <0.1% | |
| NEXTERA ENERGY INC COMMON STOCK USD.01 56,955.000 | — | — | $4.5M | $4.1M | <0.1% | |
| MORGAN STANLEY COMMON STOCK USD.01 32,298.000 | — | — | $3.3M | $4.1M | <0.1% | |
| BRUNELLO CUCINELLI SPA COMMON STOCK 36,364.000 | — | — | $1.5M | $4.0M | <0.1% | |
| COMCAST CORP CLASS A COMMON STOCK USD.01 105,372.000 | — | — | $4.2M | $4.0M | <0.1% | |
| LOWE S COS INC COMMON STOCK USD.5 15,873.000 | — | — | $4.0M | $3.9M | <0.1% | |
| AMGEN INC COMMON STOCK USD.0001 14,913.000 | — | — | $4.9M | $3.9M | <0.1% | |
| BUNZL PLC COMMON STOCK GBP.3214286 93,328.000 | — | — | $3.5M | $3.9M | <0.1% | |
| HAMMES PARTNERS IV LIMITED PARTNERSHIP 4,981,242.880 | — | — | $5.0M | $3.8M | <0.1% | |
| CACI INTERNATIONAL INC CL A COMMON STOCK USD.1 9,440.000 | — | — | $4.4M | $3.8M | <0.1% | |
| WEIR GROUP PLC/THE COMMON STOCK GBP.125 138,924.000 | — | — | $2.9M | $3.8M | <0.1% | |
| DEXCOM INC COMMON STOCK USD.001 48,427.000 | — | — | $3.5M | $3.8M | <0.1% | |
| APPLIED MATERIALS INC COMMON STOCK USD.01 22,974.000 | — | — | $4.4M | $3.7M | <0.1% | |
| ADIDAS AG SPONSORED ADR 30,278.000 | — | — | $3.7M | $3.7M | <0.1% | |
| OLYMPUS CORP COMMON STOCK 242,800.000 | — | — | $2.4M | $3.7M | <0.1% | |
| WISE PLC A COMMON STOCK GBP.01 270,710.000 | — | — | $3.2M | $3.6M | <0.1% | |
| STRYKER CORP COMMON STOCK USD.1 9,999.000 | — | — | $3.6M | $3.6M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- NJ21 92537N108 | — | — | $3.4M | $3.6M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- NJ01 337955AE8 | — | — | $3.5M | $3.5M | <0.1% | |
| LVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3 5,336.000 | — | — | $2.3M | $3.5M | <0.1% | |
| EXOR NV COMMON STOCK EUR.01 37,633.000 | — | — | $2.6M | $3.5M | <0.1% | |
| FUND SHARES/PAR (D) COST VALUE ----------------------------------------------------------------------------------------------------------------------------------- RYANAIR HOLDINGS PLC SP ADR 78,490.000 | — | — | $4.0M | $3.4M | <0.1% | |
| IMCD NV COMMON STOCK EUR.16 22,608.000 | — | — | $3.6M | $3.4M | <0.1% | |
| AUTOMATIC DATA PROCESSING COMMON STOCK USD.1 11,378.000 | — | — | $3.1M | $3.3M | <0.1% | |
| GILEAD SCIENCES INC COMMON STOCK USD.001 34,575.000 | — | — | $2.7M | $3.2M | <0.1% | |
| ARISTA NETWORKS INC COMMON STOCK USD.0001 28,488.000 | — | — | $2.4M | $3.1M | <0.1% | |
| EPIROC AB A COMMON STOCK SEK.412413 176,887.000 | — | — | $1.5M | $3.1M | <0.1% | |
| SCHWAB (CHARLES) CORP COMMON STOCK USD.01 41,344.000 | — | — | $2.6M | $3.1M | <0.1% | |
| ANHEUSER BUSCH INBEV SA/NV COMMON STOCK 59,893.000 | — | — | $3.4M | $3.0M | <0.1% | |
| ASHTEAD GROUP PLC COMMON STOCK GBP.1 48,023.000 | — | — | $2.7M | $3.0M | <0.1% | |
| TOKYO ELECTRON LTD COMMON STOCK 19,300.000 | — | — | $2.7M | $3.0M | <0.1% | |
| RIGHTMOVE PLC COMMON STOCK GBP.001 366,916.000 | — | — | $2.1M | $2.9M | <0.1% | |
| T MOBILE US INC COMMON STOCK USD.0001 13,228.000 | — | — | $2.7M | $2.9M | <0.1% | |
| GALDERMA GROUP AG COMMON STOCK CHF.01 26,273.000 | — | — | $2.5M | $2.9M | <0.1% |
Showing top 200 of 1,732 investments by value.