Investment portfolio
CalSTRS is the largest educator-only pension fund in the world with assets totaling approximately $382.4 billion as of September 30, 2025.
| Asset | Net asset<br>value<br>(in millions) | Actual | Current<br>target | Difference | Range |
|---|---|---|---|---|---|
| Public Equity* | 162,141 | 42.40% | 39.00% | 3.40% | +/- 8% |
| Fixed Income | 48,671 | 12.73% | 13.00% | -0.27% | +/- 5% |
| Real Estate* | 47,671 | 12.47% | 15.00% | -2.53% | +/- 5% |
| Private Equity* | 56,650 | 14.81% | 14.00% | 0.81% | +/- 5% |
| RMS | 29,065 | 7.60% | 10.00% | -2.40% | +/- 5% |
| Inflation Sensitive | 26,741 | 6.99% | 7.00% | -0.01% | +/- 5% |
| Cash / Liquidity | 5,896 | 1.54% | 2.00% | -0.46% | 0 - 5% |
| Collaborative<br>Strategies* | 5,167 | 1.35% | 0.00% | 1.35% | 0 - 5% |
| Strategic Overlay | 428 | 0.11% | 0.00% | 0.11% | |
| Total<br>investment assets | 382,430 | 100.00% | 100.00% |
* Includes Sustainable Investment & Stewardship Strategies public and private investments total of $2,031 (in millions)