Racial Justice Investor Dataset

A NOTE ABOUT INDEX FUNDS

An index is a list of investments. Many mutual funds and exchange traded funds (ETFs) track these lists. As a result, many everyday investors own stock in private prison companies because they are invested in funds that track these indexes (for an explanation of how private prisons participate in systemic racism, see our Racial Justice Investment Criteria below). A sample of these indexes and the major index providers that publish them is below. If you own funds that track any of these indexes, you are probably invested in private prisons.

Dow Jones

• Dow Jones Equity All REIT Capped Index

• Dow Jones US Broad Stock Market

• Dow Jones US Total Stock Market Small-Cap

Invesco

• Invesco Strategic U.S. Small Company Index

Morningstar

• Morningstar US Market Factor Tilt Index

• Morningstar US Small Cap Target Market Exposure Extended Index

• Morningstar US Small Value Index

• Morningstar US Small-Cap Extended Index - Benchmark TR Gross

FTSE/Russell

• FTSE Global All Cap Net Tax (US RIC) Index

• Russell 1000 Index

• Russell 2000 Index

• Russell 3000 Index

Standard & Poor's (S&P)

• S&P 400 Index

• S&P Small Cap 600

• S&P Total Market Index

• S&P United States REIT

This list is not comprehensive. Check whether a fund you own holds private prison stock with Prison Free Funds, from As You Sow.

• Prison Involvement is included in our Racial Justice Investment Criteria because, “Racial and ethnic disparities are still a substantial feature of our prison system,” contributing to “Blacks and Latinos comprising 56% of the incarcerated population, yet only 30% of the U.S. population” (The Sentencing Project), while "Native Americans are incarcerated 38% higher than the national average" (Poor People's Campaign).

Criteria Data Source: American Friends Service Committee | Investigate: Action/Research on State Violence.

• Prison Funding is included in our Racial Justice Investment Criteria because, “Private prison companies rely on financing organizations to bankroll their operations and expansion. Banks offer CoreCivic and GEO Group, the two largest private prison and immigrant detention companies in the United States, billions of dollars in revolving credit lines, term loans, and bonds that allow them to expand their reach into carceral and correctional industries.” (American Friends Services Committee) Companies are included if they hold private prison stock and/or bonds.

Criteria Data Source: Adasina Social Capital original research, including public SEC filings, with support from YourStake and EQM.

• Prison Labor is included in our Racial Justice Investment Criteria because, “people in prison are forced to work for little or no pay in grueling conditions under the threat of punishment. They farm crops, remove asbestos, fight wildfires, clean medical waste, serve on suicide watch, and still more. It’s estimated that more than $14 billion in wages is stolen from incarcerated workers each year.” Worth Rises

Criteria Data Source: Adasina Social Capital original research, including stock exchange market activity, media reviews, and limited data from Worth Rises.

• Money Bail Involvement is included in our Racial Justice Investment Criteria because, "If people cannot pay the amount set for their bail, which is often put intentionally out of reach for people of color, they remain stuck in jail and lose the ability to work, raise their children and be free as people who are legally presumed innocent.” Color of Change

Criteria Data Source: American Friends Service Committee | Investigate: Action/Research on State Violence.

• Immigrant Detention is included in our Racial Justice Investment Criteria because,  this practice is “...rooted in white supremacy built on the systemic criminalization, commodification, and dehumanization of Black, brown, and indigenous bodies.” Race Forward

Criteria Data Source: American Friends Service Committee | Investigate: Action/Research on State Violence.

• Citizen & Immigrant Surveillance is included in our Racial Justice Investment Criteria because, "As long as publicly funded properties are allowed to install these invasive surveillance tools, Black residents and marginalized communities will continue to be disproportionately exposed to the dangers of unchecked policing, surveillance, and discrimination.” Color of Change

Criteria Data Source: Adasina Social Capital original research, including stock exchange market activity, media reviews, and data from American Friends Service Committee | Investigate: Action/Research on State Violence.

• Occupied Territories is included in our Racial Justice Investment Criteria because, in the occupied West Bank, Palestinians are subject to Israeli military law, while Israelis who reside in Jewish-only illegal settlements are subject to Israeli civilian law. “Human Rights Watch called this two-tiered system ‘separate and unequal,’ invoking the US legal doctrine that allowed racial segregation under Jim Crow laws in the US, and added that Israel gives ‘preferential services, development, and benefits for Jewish settlers while imposing harsh conditions on Palestinians.’" American Friends Service Committee

Criteria Data Source: American Friends Service Committee | Investigate: Action/Research on State Violence.

• For-Profit Colleges is included in our Racial Justice Investment Criteria because, "The industry specifically targets low-income students, people of color, single parents, and veterans" and "students are left with mountains of debt and without the means to pay for it. For-profit colleges account for 13% of the student population, but 33% of federal loan defaults." Project on Predatory Student Lending

Criteria Data Source: Adasina Social Capital original research, including stock exchange market activity and media reviews.