Investment portfolio
CalSTRS is the largest educator-only pension fund in the world with assets totaling approximately $374.3 billion as of August 31, 2025.
| Asset | Net asset<br>value<br>(in millions) | Actual | Current<br>target | Difference | Range |
|---|---|---|---|---|---|
| Public Equity* | 156,619 | 41.84% | 39.00% | 2.84% | +/- 8% |
| Fixed Income | 48,027 | 12.83% | 13.00% | -0.17% | +/- 5% |
| Real Estate* | 47,608 | 12.72% | 15.00% | -2.28% | +/- 5% |
| Private Equity* | 56,771 | 15.16% | 14.00% | 1.16% | +/- 5% |
| RMS | 27,140 | 7.25% | 10.00% | -2.75% | +/- 5% |
| Inflation Sensitive | 26,496 | 7.08% | 7.00% | 0.08% | +/- 5% |
| Cash / Liquidity | 6,275 | 1.68% | 2.00% | -0.32% | 0 - 5% |
| Collaborative<br>Strategies* | 4,977 | 1.33% | 0.00% | 1.33% | 0 - 5% |
| Strategic Overlay | 429 | 0.11% | 0.00% | 0.11% | |
| Total<br>investment assets | 374,342 | 100.00% | 100.00% |
* Includes Sustainable Investment & Stewardship Strategies public and private investments total of $1,937 (in millions)