You Own Wall Street › Employer plans › Bellring Brands

Bellring Brands 401(k) retirement plan: the investment options

Does your 401(k) vote the way you would? $23m of the $47m in the Bellring Brands plan votes in secret. Fidelity 500 Index Fund, the most common fund in the plans we track, publishes every vote: answer 3 of its ballots, then see your result.

The question on the ballot

As filed

The Bellring Brands 401(k) holds $47m. Of the $44m we could identify from the plan’s own filing, 53.7% sits in funds that publish no record of how they voted your shares — collective trusts, which unlike a mutual fund file no Form N-PX and leave no public trace of a single vote.

SourceBellring Brands’s own annual retirement-plan filing with the SEC (Form 11-K, Schedule of Assets) · open the filing

What the plan holdsVehicleVoting recordValue
The Vanguard Grouplisted as “Mutual Fund - Vanguard Institutional Index Fund **” Registered fund PUBLISHED $8m
The Vanguard Grouplisted as “Collective Trust - Vanguard Target Retirement 2050 Trust I **” Collective trust or separate account NONE $4m
The Vanguard Grouplisted as “Collective Trust - Vanguard Target Retirement 2045 Trust I **” Collective trust or separate account NONE $4m
The Vanguard Grouplisted as “Collective Trust - Vanguard Target Retirement 2030 Trust I **” Collective trust or separate account NONE $4m
The Vanguard Grouplisted as “Collective Trust - Vanguard Target Retirement 2040 Trust I **” Collective trust or separate account NONE $4m
The Vanguard Grouplisted as “Collective Trust - Vanguard Target Retirement 2055 Trust I **” Collective trust or separate account NONE $3m
BellRing Brands, Inc.listed as “Common Stock Fund - BellRing Brands, Inc. Common Stock **” Employer stock Voted by the plan trustee $2m
The Vanguard Grouplisted as “Collective Trust - Vanguard Target Retirement 2060 Trust I **” Collective trust or separate account NONE $2m
The Vanguard Grouplisted as “Mutual Fund - Vanguard PRIMECAP Fund Admiral Shares **” Registered fund PUBLISHED $2m
The Vanguard Grouplisted as “Mutual Fund - Vanguard Total Intl Stock Index Fund Instl Shares **” Registered fund PUBLISHED $2m
The Vanguard Grouplisted as “Mutual Fund - Vanguard Extended Market Index Fund Institutional Shares **” Registered fund PUBLISHED $1m
The Vanguard Grouplisted as “Mutual Fund - Vanguard Total Bond Market Index Fund Instl Shares **” Registered fund PUBLISHED $1m

The 12 largest holdings in the plan. “Vehicle” is the description the filing itself gives each investment.

Why there is nothing to show

A mutual fund has to file Form N-PX every year listing every vote it cast on your behalf. A collective investment trust does not. It is a bank-run vehicle sold only inside retirement plans, it is cheaper, and it is now where most 401(k) default money sits — including most target-date funds, which is where savers who never chose anything are put.

So the shares bought with Bellring Brands employees’ retirement savings are voted every proxy season — on executive pay, on board seats, on climate and workforce proposals — and there is no public document anywhere recording how. This is not an oversight by Bellring Brands; it is what the disclosure rules currently require, which is to say: nothing.

What you can do

Check whether your plan offers any registered fund as an alternative — those publish their records, and you can read them here. If it does not, the menu itself is the thing that has to change, and that is a decision made by the plan’s fiduciary committee, not by you alone.

See how funds that do publish voted →

CoverageWe classified 100% of this plan’s assets from the filing. The figure above is the share of the money we could classify; anything we could not identify is excluded from it rather than assumed either way.

Other employer plans

The largest employer plans on the site, and a few more. Each page shows what the plan’s funds did with the shares its savers paid for.

Microsoft 401(k)$64.92bn in the planBank of America 401(k)248,103 savers · $62.90bnJPMorgan Chase 401(k)297,359 savers · $52.91bnGoogle 401(k)154,637 savers · $48.74bnWells Fargo 401(k)$43.80bn in the planAmazon 401(k)943,213 savers · $34.59bnInternational Business Machines 401(k)$28.25bn in the planIntel 401(k)$26.91bn in the planGreenheck Fan 401(k)5,586 savers · $579mCDW 401(k)13,206 savers · $2.28bnCuro Management 401(k)2,534 savers · $62mMaclean-Fogg 401(k)2,464 savers · $217mVeradigm 401(k)4,021 savers · $605mUs Foods 401(k)28,755 savers · $2.48bn