Alliance Data Systems had a good 2011 and their 401k Plan Balanced portfolio invested 6.5% of the Plan in company stock ADS, more than the employee portfolio. Like the previous scan for Amazon's 401k the Plan equity options did not do well the last 5 years. In the Alliance Data Systems 401k Plan none of their Plan equity options have any money invested in them because they do not have positive 5yr Sharpe ratios. This may happen a lot this year, company stocks outperforming their Plan equity options the last 5 years because 2011 was not a good year for most mutual funds.
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