Investment portfolio
CalSTRS is the largest educator-only pension fund in the world with assets totaling approximately $389.5 billion as of November 30, 2025.
| Asset | Net asset<br>value<br>(in millions) | Actual | Current<br>target | Difference | Range |
|---|---|---|---|---|---|
| Public Equity* | 162,729 | 41.77% | 39.00% | 2.77% | +/- 8% |
| Fixed Income | 49,496 | 12.71% | 13.00% | -0.29% | +/- 5% |
| Real Estate* | 47,663 | 12.24% | 15.00% | -2.76% | +/- 5% |
| Private Equity* | 57,604 | 14.79% | 14.00% | 0.79% | +/- 5% |
| RMS | 30,011 | 7.70% | 10.00% | -2.30% | +/- 5% |
| Inflation Sensitive | 27,619 | 7.09% | 7.00% | 0.09% | +/- 5% |
| Cash / Liquidity | 8,763 | 2.25% | 2.00% | 0.25% | 0 - 5% |
| Collaborative<br>Strategies* | 5,377 | 1.38% | 0.00% | 1.38% | 0 - 5% |
| Strategic Overlay | 271 | 0.07% | 0.00% | 0.07% | |
| Total<br>investment assets | 389,533 | 100.00% | 100.00% |
* Includes Sustainable Investment & Stewardship Strategies public and private investments total of $1,975 (in millions)