Fastenal Co., Winona, Minn., added four index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan in 2019.
The plan added the Fidelity 500 Index Fund, Fidelity Mid Cap Index Fund, Fidelity Small Cap Index Fund and Fidelity U.S. Bond Index Fund, according to the company's 11-K filing Thursday with the SEC.
As of Dec. 31, the funds had $75 million, $6 million, $5 million and $4 million in assets in the plan, respectively, according to the filing.
Also during 2019, the plan removed four similar index funds managed by Vanguard Group: the Vanguard Institutional Index Fund, Vanguard Small-Cap Index Fund, Vanguard Total Bond Market Index Fund and Vanguard Mid-Cap Index Fund.
Those funds had $53 million, $5 million, $4 million and $3 million in assets in the plan, respectively, as of Dec. 31, 2018, according to Fastenal's prior 11-K filings.
The reason for the changes was not provided.
As of Dec. 31, the Fastenal Co. & Subsidiaries 401(k) and Employee Stock Ownership Plan had $538 million in assets, according to the new 11-K filing. Also as of that date, the plan had 14 individual investment options, a common stock fund and a target-date fund lineup managed by Vanguard Group.
Ellen Stolts, assistant controller - reporting and reconciliation, could not be immediately reached for further information.