Nisa Investment Advisors, Llc
SEC-registered
Institutional / Pension Advisor · Mega ($100B+)
CRD 107313
· SEC file 801-45153
· St. Louis, MO
· WWW.NISA.COM
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ADV data as of Mar 26, 2026
- Regulatory AUM
- $344B
- Discretionary
- $337B
- Clients
- 440
- Avg AUM / client
- $782M
- Accounts
- 440
- Employees
- 417
AUM over time
$92.5B
$360B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 26, 2026
Asset allocation (SMA assets by investment type)
as of Mar 26, 2026
US government & agency bonds
$217B
63%
Investment-grade corporate bonds
$72.2B
21%
Exchange-traded equities
$20.6B
6%
Cash & equivalents
$13.8B
4%
Registered investment companies (funds/ETFs)
$10.3B
3%
Sovereign bonds
$6.9B
2%
Derivatives
$3.4B
1%
Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Investments (13F portfolio — 3,039 positions, $27,040,554,126)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Ishares Core S&P 500 Etf | COM | $10,526,403,378 | 16,114,884 | 38.9% | 3.06% |
| 2 | Nvidia Corp | COM | $1,081,101,024 | 6,198,618 | 4.0% | 0.31% |
| 3 | Apple Inc | COM | $1,010,479,605 | 3,981,558 | 3.74% | 0.29% |
| 4 | Microsoft Corp | COM | $755,653,193 | 2,041,368 | 2.79% | 0.22% |
| 5 | Alphabet Inc | COM | $476,404,103 | 1,656,712 | 1.76% | 0.14% |
| 6 | Amazon.Com Inc | COM | $399,335,649 | 1,917,394 | 1.48% | 0.12% |
| 7 | Broadcom Inc | COM | $398,846,347 | 1,288,638 | 1.48% | 0.12% |
| 8 | Alphabet Inc | COM | $387,893,240 | 1,352,204 | 1.43% | 0.11% |
| 9 | Meta Platforms Inc | COM | $330,206,546 | 577,153 | 1.22% | 0.1% |
| 10 | Jpmorgan Chase & Co | COM | $261,848,583 | 890,157 | 0.97% | 0.08% |
| 11 | Tesla Inc | COM | $203,519,742 | 547,464 | 0.75% | 0.06% |
| 12 | Eli Lilly & Co | COM | $194,032,840 | 210,958 | 0.72% | 0.06% |
| 13 | Exxon Mobil Corp | COM | $182,073,853 | 1,073,169 | 0.67% | 0.05% |
| 14 | Johnson & Johnson | COM | $155,169,535 | 634,796 | 0.57% | 0.05% |
| 15 | Walmart Inc | COM | $148,189,881 | 1,190,025 | 0.55% | 0.04% |
| 16 | Visa Inc | COM | $142,900,886 | 472,806 | 0.53% | 0.04% |
| 17 | Mastercard Inc | COM | $127,431,288 | 255,036 | 0.47% | 0.04% |
| 18 | Netflix Inc | COM | $126,126,878 | 1,311,772 | 0.47% | 0.04% |
| 19 | Caterpillar Inc | COM | $118,747,814 | 167,614 | 0.44% | 0.03% |
| 20 | Costco Wholesale Corp | COM | $112,678,297 | 113,082 | 0.42% | 0.03% |
| 21 | Chevron Corp | COM | $109,890,383 | 531,128 | 0.41% | 0.03% |
| 22 | Berkshire Hathaway Inc | COM | $108,364,371 | 226,136 | 0.4% | 0.03% |
| 23 | Abbvie Inc | COM | $104,321,036 | 479,659 | 0.39% | 0.03% |
| 24 | Bank Of America Corp | COM | $101,957,067 | 2,091,427 | 0.38% | 0.03% |
| 25 | Cisco Systems Inc | COM | $97,630,954 | 1,258,293 | 0.36% | 0.03% |
Top 25 of 3,039 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| High net worth individuals | 13 | $382M | 0.11% |
| Pooled investment vehicles (non-investment companies) | 14 | $11.5B | 3.35% |
| Pension and profit sharing plans | 255 | $177B | 51.6% |
| Charitable organizations | 18 | $10.1B | 2.95% |
| State or municipal government entities | 22 | $108B | 31.3% |
| Insurance companies | 16 | $2.4B | 0.7% |
| Corporations and other businesses | 13 | $4.6B | 1.35% |
| Other | 89 | $29.9B | 8.68% |
Nonprofit clients
Charities that reported this firm as a top-paid contractor (investment services) on Form 990.
| Charity | Location | Period |
|---|---|---|
| Guaranty Association Benefits Company EIN 453635388 | Clinton, IA | 12/31/2024 |
| P G & E Post Retirement Med Pl Tr Non Mgmt Employees & Retirees EIN 943148512 | Pittsburgh, PA | 12/31/2024 |
| Voluntary Employees Beneficiary Association For The General Mills EIN 411738267 | Pittsburgh, PA | 12/31/2024 |
| Ameren Management Health Trust EIN 043294272 | Saint Louis, MO | 12/31/2024 |
| Dte Energy Company Veba Tr EIN 200471790 | Detroit, MI | 12/31/2024 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C. Showing first 100 of 108.
People (84)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Anthony Randal Pope | Managing Director, Portfolio Management | CFA | Nov 1997 (29y) | Less than 5% |
| David Gordon Eichhorn | Chief Executive Officer & Head Of Investment Strategies | CFA | Jan 2002 (25y) | Less than 5% |
| Cheryl Leigh Hanson | Managing Director, Client Services | Mar 2005 (21y) | Less than 5% | |
| Mark Alexander Folkins | Chief Administrative Officer | Nov 2005 (21y) | Less than 5% | |
| Matthew G Byron | Chief Operating Officer | Jun 2008 (18y) | Less than 5% | |
| Richard Robert Ratkowski | Director, Investment Strategies | May 2011 (15y) | Less than 5% | |
| Lester, Kenneth, Lloyd | Managing Director, Portfolio Management | Oct 2012 (14y) | Less than 5% | |
| Richard Michael Dolson | Chief Compliance Officer | CFA | Sep 2013 (13y) | Less than 5% |
| Sanevich, Bella, L.F. | Managing Director, Corporate Governance And Legal | Apr 2019 (7y) | Less than 5% | |
| Jennifer L Mccarthy | Registered representative | CFA | Jan 2002 (25y) | |
| Carl Richard Kuebler | Registered representative | CFA | Sep 2003 (23y) | |
| Daniel Arthur Scholz | Registered representative | CFA | Sep 2003 (23y) | |
| Gregory William Johnson | Registered representative | Oct 2003 (23y) | ||
| Thomas Bischoff White | Registered representative | CFA | Jan 2004 (23y) | |
| Kevin Daniel Schuman | Registered representative | CFA | May 2004 (22y) | |
| John Sook Choe | Registered representative | Oct 2005 (21y) | ||
| Biswajit Bhattacharya | Registered representative | CFA | Nov 2005 (21y) | |
| Daniel H Riley | Registered representative | CFA | Nov 2006 (20y) | |
| Christopher Eric Goebel | Registered representative | CFA | Apr 2008 (18y) | |
| Patrick Ryan Foley | Registered representative | Aug 2008 (18y) | ||
| Vinodkumar Sadasivam | Registered representative | Aug 2008 (18y) | ||
| William Russell Groth | Registered representative | Mar 2009 (17y) | ||
| Patrick Thomas Fuchs | Registered representative | CFA | Apr 2010 (16y) | |
| Jordan Craig Rouff | Registered representative | CFA | Apr 2012 (14y) | |
| Mark David Hasemeier | Registered representative | Mar 2014 (12y) | ||
| Kevin Michael Shultz | Registered representative | CFA | Jul 2014 (12y) | |
| Andrew John Harwerth | Registered representative | CFA | Sep 2014 (12y) | |
| Ann Marie Lanza Gehring | Registered representative | CFA | Sep 2014 (12y) | |
| Matthew Gayle Ferris | Registered representative | Sep 2014 (12y) | ||
| Eric Raymond Rohr | Registered representative | CFA | Oct 2014 (12y) | |
| Timothy Daniel Hughes | Registered representative | Jun 2015 (11y) | ||
| Ryan Joseph Henrichs | Registered representative | CFA | Sep 2015 (11y) | |
| Derek Warren Lohse | Registered representative | Sep 2015 (11y) | ||
| Zachery John Stevens | Registered representative | Feb 2016 (10y) | ||
| Luke Austin Obholz | Registered representative | CFA | Apr 2016 (10y) | |
| Michael Patrick Vanous | Registered representative | CFA | Sep 2016 (10y) | |
| Dezhi Fu | Registered representative | Oct 2016 (10y) | ||
| Ross Owen Barthold | Registered representative | Jan 2017 (10y) | ||
| James Lee Hobbs | Registered representative | CFA | Sep 2017 (9y) | |
| Paul Michael Oehrlein | Registered representative | CFA | Jan 2018 (9y) | |
| Randy Todd Lane | Registered representative | Jan 2018 (9y) | ||
| Alik Ulmasov | Registered representative | CFA | Jun 2018 (8y) | |
| Joseph Anthony Sodemann | Registered representative | CFA | Jun 2018 (8y) | |
| Aaron Mathew Johnson | Registered representative | CFA | Jun 2019 (7y) | |
| Dirk James Thompson | Registered representative | CFA | Jul 2019 (7y) | |
| Steven Edward Sash | Registered representative | CFA | Sep 2019 (7y) | |
| Brendan Christopher Normile | Registered representative | Oct 2019 (7y) | ||
| Adekemi Adijatu Sodamade | Registered representative | Nov 2019 (7y) | ||
| Stephen Jones Douglass | Registered representative | Jan 2020 (7y) | ||
| Joda Keith Holloway | Registered representative | CFA | Jan 2020 (7y) | |
| David Gregory Murad | Registered representative | CFA | Nov 2020 (6y) | |
| Stephen Daniel Layton | Registered representative | CFA | Apr 2021 (5y) | |
| Amanda Harman Simmons | Registered representative | May 2021 (5y) | ||
| Wiktor Tomasz Szrek | Registered representative | CFA | Apr 2022 (4y) | |
| John Walsh Slezak | Registered representative | Aug 2022 (4y) | ||
| Michael Jared Williams | Registered representative | CFA | Jan 2023 (4y) | |
| Jonathan Peress | Registered representative | CFA | Feb 2023 (3y) | |
| Alexander Charles Matthew | Registered representative | CFA | Mar 2023 (3y) | |
| Patrick Joseph Broughton | Registered representative | CFA | Mar 2023 (3y) | |
| Mitchell Jacob Zitsbank | Registered representative | Apr 2023 (3y) | ||
| Joseph Robert Lux | Registered representative | Jun 2023 (3y) | ||
| Cullen Ryan Keller | Registered representative | Jun 2023 (3y) | ||
| John Thomas Knowles Bagwell | Registered representative | Sep 2023 (3y) | ||
| Jordan Michael Smith | Registered representative | CFA | Apr 2024 (2y) | |
| Samuel Elmore | Registered representative | CFA | May 2024 (2y) | |
| Graham Hubbert | Registered representative | CFA | May 2024 (2y) | |
| Kurt D Halvorson | Registered representative | CFA | Jan 2025 (2y) | |
| Mitchell Joseph Reidt | Registered representative | CFA | Mar 2025 (1y) | |
| Sidney Anne Burke | Registered representative | Jun 2025 (1y) | ||
| Jocelyn Marie Koester | Registered representative | CFA | Jul 2025 (1y) | |
| Tolarith Sam Ghanty | Registered representative | CFA | Jul 2025 (1y) | |
| Justin Richard Mars | Registered representative | Jul 2025 (1y) | ||
| Claire Elizabeth Nieder | Registered representative | Jul 2025 (1y) | ||
| George Katsigiannis | Registered representative | CFA | Oct 2025 (1y) | |
| Christin Barnard Hinkle | Registered representative | Oct 2025 (1y) | ||
| Jeffrey Tolksdorf | Registered representative | CFA | Jan 2026 (1y) | |
| Ryan Allyn Leary | Registered representative | CFA | Feb 2026 (0y) | |
| Henry William Greenfield | Registered representative | CFA | Apr 2026 (0y) | |
| John Parker Tice | Registered representative | CFA | Apr 2026 (0y) | |
| Berkeley Francisco Souza | Registered representative | Apr 2026 (0y) | ||
| Rahul Bajaj | Registered representative | Apr 2026 (0y) | ||
| Julia Helena Angell | Registered representative | Apr 2026 (0y) | ||
| Julian Wu | Registered representative | Jun 2026 (0y) | ||
| Alan Tani Grezda | Registered representative | Jun 2026 (0y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Nisa, Llc | Parent Company | Apr 2016 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (100)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| United Mine Workers Of America 1974 Pension Plan | Umwa 1974 Pension Trust Board Of Trustees | 64 | $3.8B | 07/01/2024 |
| National Grid Usa Companies Final Average Pay Pension Plan | National Grid Usa Service Company, Inc. | 1,541 | $2.1B | 04/01/2024 |
| Bass Retirement Plan | Bepco, L.P. | 327 | $303M | 01/01/2024 |
| Relx Inc. Us Retirement Plan | Relx Inc. | 2,394 | $1.3B | 01/01/2024 |
| Premera Pension Equity Plan | Premera | 2,755 | $446M | 01/01/2024 |
| The New York Times Companies Pension Plan | The New York Times Company | 1,050 | $985M | 01/01/2024 |
| United Steelworkers International Union Staff Pension Plan | United Steel, Paper And Forestry, Rubber, Manufacturing, Energy, Allie | 702 | $789M | 01/01/2024 |
| Avantor Pension Plan | Avantor Performance Materials, Llc | 206 | $155M | 01/01/2024 |
| Agere Systems Pension Plan | Lsi Corporation | 111 | $922M | 01/01/2024 |
| The Auto Club Group Cash Value Plan Pension Plan | Auto Club Insurance Association | 1,064 | $493M | 01/01/2024 |
| Dow Employees' Pension Plan | The Dow Chemical Company | 6,414 | $10.9B | 01/01/2024 |
| Kimberly Clark Corporation Pension Plan | Kimberly Clark Corporation | 1,318 | $872M | 01/01/2024 |
| Williams Pension Plan | The Williams Companies, Inc. | 3,178 | $1.4B | 01/01/2024 |
| Retirement Plan For Employees Of Aetna Inc. | Aetna Inc. | 9,117 | $5.2B | 01/01/2024 |
| Morgan Stanley Employees Retirement Plan | Morgan Stanley Domestic Holdings, Llc | 5,609 | $2.0B | 01/01/2024 |
| Ipl Retirement Plan For Bargaining Unit Ees | Interstate Power And Light Company | 312 | $266M | 01/01/2024 |
| Wisconsin Power & Light Co. Retirement Plan B | Wisconsin Power & Light Company | 208 | $248M | 01/01/2024 |
| American Cancer Society, Inc. Retirement Annuity Plan | American Cancer Society, Inc. | 1,126 | $446M | 01/01/2024 |
| Owens Corning Merged Retirement Plan | Owens Corning | 2,251 | $337M | 01/01/2024 |
| Bmo U.S. Pension Plan | Bmo Financial Corp. | 5,932 | $1.3B | 01/01/2024 |
| Nisource Pension Plan | Northern Indiana Public Service Company | 2,108 | $1.0B | 01/01/2024 |
| American Air Liquide Holdings, Inc. Retirement Plan | American Air Liquide Holdings, Inc. | 553 | $446M | 01/01/2024 |
| Greater Lafayette Health Services, Inc. Pension Security Plan | Franciscan Alliance, Inc. | 294 | $30.7M | 01/01/2024 |
| Employee Retirement Plan Of S&P Global Inc And Its Subsidiaries | S&P Global Inc. | 1,042 | $1.2B | 01/01/2024 |
| Ikon Office Solutions, Inc. Pension Plan | Ricoh Usa, Inc. | 2,452 | $385M | 01/01/2024 |
Top 25 of 100 plans by assets.
From Form 5500 service-provider disclosures.
Foundations & charities (5)
| Organization | Type | Assets | As of |
|---|---|---|---|
| Guaranty Association Benefits Company | Public charity | $1.3B | 12/31/2024 |
| P G & E Post Retirement Med Pl Tr Non Mgmt Employees & Retirees | Public charity | $1.8B | 12/31/2024 |
| Voluntary Employees Beneficiary Association For The General Mills | Public charity | $0 | 12/31/2024 |
| Ameren Management Health Trust | Public charity | $518M | 12/31/2024 |
| Dte Energy Company Veba Tr | Public charity | $1.3B | 12/31/2024 |
From IRS Form 990 investment-management-fee disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/26/2026 | 1.68 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Fixed fees
- • Performance-based fees
- • Other fees
- • OTHER APPROPRIATE MEASURE OF PROGRAM SIZE
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Other services
Custody
Reported custodians
- Northern Trust $81.3B (24% of AUM) Mar 2026
- BNY Mellon $72.2B (21% of AUM) Mar 2026
- State Street $66.7B (19% of AUM) Mar 2026
- J.P. Morgan $33.6B (10% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 26, 2026.
View current Form ADV (SEC/IAPD) ↗