# Marathon Oil Group Trust

Marathon Oil Group Trust is a Pension Fund based in Houston, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Houston, United States
- **Region:** North America
- **Address:** Houston, TX, United States
- **Founded:** 1889
- **Assets under management:** Undisclosed
- **Website:** mb2pf.com
- **LinkedIn:** https://www.linkedin.com/company/marathon-oil-corporation

## Regulatory record

- **Reports private funds:** No

## About

Marathon Oil Group Trust is a private sector pension fund based in Houston, US. It manages approximately $180 million in assets across 30 funds, primarily focused on North America.

## Sectors

- Real Estate
- Energy Transition & Renewables

## Questions

### Who manages the investment decisions for the Marathon Oil Group Trust?

The trust's assets are managed by the United States Steel Corporation Pension Fund team, a relationship dating back to when U.S. Steel (then USX) owned Marathon Oil before its 2002 spin-off. This arrangement survived the corporate separation and the trust's named investment managers oversee portfolio allocations independently of Marathon's subsequent parent, ConocoPhillips.

### How is the trust connected to ConocoPhillips after the 2024 Marathon acquisition?

ConocoPhillips acquired Marathon Oil Corporation in November 2024 for $22.5 billion. Despite this acquisition, the Marathon Oil Group Trust's assets remain under the management of the U.S. Steel Pension Fund, not under ConocoPhillips' control. The trust is a separate legal entity holding retiree obligations distinct from the corporate operating company.

### Is the Marathon Oil Group Trust still an active pension plan?

The trust functions as a legacy defined-benefit plan for former Marathon Oil employees. It does not appear to have active participants accruing new benefits but continues to hold and manage assets to meet existing retiree obligations. It operates outside the standard corporate governance structure of both Marathon and ConocoPhillips.

## Related profiles

- [Marathon Oil Corporation](https://altss.com/profile/marathon-oil-corporation)
- [Marathon Petroleum Corporation](https://altss.com/profile/marathon-petroleum-corporation-mpc)

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Last updated: 2026-08-10T23:49:37.812Z

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