ConocoPhillips, Houston, added seven new passive investment options to the lineup of its 401(k) plan and removed seven similar options managed by the Vanguard Group.
The changes were made to the plan during 2021, according to a comparison of the oil and gas company's 11-K filing with the SEC Monday and last year's filing.
The comparison shows the plan added four funds managed by BlackRock, two managed by State Street Global Advisors and one managed by Geode Capital Management during the year.
According to the new 11-K filing, as of Dec. 31, the BlackRock Equity Index Fund, BlackRock Russell 2000 Index Fund, BlackRock MidCap Equity Index Fund and BlackRock U.S. Treasury Inflation Protected Securities Fund had $629 million, $217 million, $161 million and $70 million, respectively, in assets in the plan; the Geode Capital Management Trust Spartan Total Market Index Pool, $338 million; and the State Street Global All Cap Equity Ex-U.S. Index Securities Lending Series Fund and the State Street U.S. Bond Index Securities Lending Series Fund had $178 million and $171 million, respectively.
The comparison also shows the plan removed seven passive investment options managed by the Vanguard Group.
As of Dec. 31, 2020, the Vanguard Institutional 500 Index Trust, Vanguard Institutional Total Bond Market Index Trust, Vanguard Total Stock Market Index Fund, Vanguard Small-Cap Index Fund, Vanguard Institutional Total International Stock Market Index Trust, Vanguard Mid-Cap Index Fund and the Vanguard Inflation-Protected Securities Fund had $559 million, $294 million, $274 million, $215 million, $163 million, $154 million and $57 million, respectively, in assets in the plan, according to the prior 11-K filing.
The new 11-K filing did not provide a reason for the changes.
As of Dec. 31, the ConocoPhillips Savings Plan had $6.8 billion in assets, according to the new 11-K filing.
ConocoPhillips spokesman Dennis Nuss said in an email that the company periodically reviews the plan's investment lineup. "This review considers the range of investment options available through the plan, performance, and the value of investment options," he said.
