Hormel Foods Corp., Austin, Minn., added two passive equity funds managed by Fidelity Investments and an active global value equity fund managed by LSV Asset Management to the investment options lineup of its four 401(k) plans in 2023.
The company added the Fidelity Small Cap Index Fund, Fidelity Global ex-U.S. Index Fund and LSV Global Value Equity Fund during the year ended Dec. 31, according to a comparison of Hormel’s four 11-K filings with the SEC on May 23 and last year’s filings.
According to the filings, the funds had $39 million, $28 million and $20 million, respectively, in the plans as of Dec. 31.
The comparison shows the funds are new to the plans and no funds were removed during 2023. The new 11-K filings did not provide a reason for the addition of the new funds. The plans all have identical fund lineups.
As of Dec. 31, the Hormel Foods Tax Deferred Investment Plan A had $1.1 billion in assets, the Jennie-O Turkey Store Retirement Savings Plan had $269 million in assets, the Hormel Foods Tax Deferred Investment Plan B had $188 million in assets, and the Capital Accumulation Plan had $172 million in assets, according to the new 11-K filings.
