# Harley-Davidson Master Trust Fund

Harley-Davidson Master Trust Fund is a Pension Fund based in Milwaukee, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Milwaukee, United States
- **Region:** North America
- **Address:** Milwaukee, WI, United States
- **Founded:** 1987
- **Assets under management:** Undisclosed
- **Website:** investor.harley-davidson.com

## Regulatory record

- **Reports private funds:** No

## About

The Harley-Davidson Master Trust Fund is a private sector pension fund based in Milwaukee, US. It manages $1.9 billion in assets across four funds. Its investment focus is on North America.

## People

- Jochen Zeitz — Chairman, President and CEO, Harley-Davidson, Inc.

## Questions

### Does the Harley-Davidson Master Trust Fund accept external capital or co-investors?

No. The trust is a single-sponsor defined-benefit pension plan exclusively for Harley-Davidson's eligible U.S. employees and retirees. It does not manage outside assets, accept third-party capital, or participate in pooled investment vehicles alongside other institutional investors in a co-investor capacity.

### Is the Harley-Davidson pension plan still open to new participants?

The salaried plan was closed to new hires in 2010 and frozen to all future benefit accruals in February 2023. The hourly plan covering union-represented workers remains subject to collective bargaining agreements, but no new hourly participants outside those agreements enter the trust. Current employees receive retirement benefits through the company's 401(k) plan.

### What is the trust's current funded status?

Harley-Davidson reported $200 million in voluntary contributions to the Master Trust in 2023 as part of a de-risking effort following the pension freeze. Precise funded ratios are disclosed annually in the company's 10-K; the company has not publicly stated a target termination date or indicated plans for an annuity buyout.

### Does the trust invest directly in Harley-Davidson stock or motorcycle-related assets?

The trust's assets are managed independently from the operating company. While the plan's trust agreement permits company stock holdings within limits, there is no public indication that the Master Trust allocates meaningfully to Harley-Davidson shares or motorcycle-industry private investments. The portfolio is structured to meet ERISA diversification requirements.

## Related profiles

- [Hargreave Hale](https://altss.com/profile/hargreave-hale)
- [Harlow Wealth Management](https://altss.com/profile/harlow-wealth-management)

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Last updated: 2026-06-03T20:00:00.000Z

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