Asset Allocation
Our Current Mix of Assets as of June 30, 2026
| Assets | Market Value | Actual | Target | Difference1 |
|---|---|---|---|---|
| Public Equity2 |
$8,363,236,223 |
55.5% | 48.0% | 7.5% |
| Safe Haven Fixed Income3 |
$1,483,291,559 |
9.8% | 10.0% | -0.2% |
| Risk Seeking Fixed Income | $907,433,657 | 6.0% | 4.0% | 2.0% |
| Real Estate | $827,915,485 | 5.5% | 8.2% | -2.7% |
| Private Equity | $993,529,489 | 6.6% | 11.0% | -4.4% |
| Absolute Return |
$956,862,658 |
6.4% | 6.0% | 0.4% |
| Real Assets |
$967,828,582 |
6.4% | 6.0% | 0.4% |
| Private Credit |
$538,650,133 |
3.6% | 6.8% | -3.2% |
| Cash + Overlay4 |
$23,022,713 |
0.2% | 0.0% | 0.2% |
| Total Investment Assets5 | $15,061,770,500 | 100.0% | 100.0% |
1 The Difference between Total Exposure and Policy.
2 Public Equity Total Exposure is the sum of Physical Exposure, $8.1B, and Overlay Exposure,
$312.7M, for a Total Equity Exposure of $8.4B.
3 Safe Haven Fixed Income Total Exposure is the sum of Physical Exposure, $1.4B, and Overlay
Exposure, $78.5M, for a Total Safe Haven Fixed Income Exposure of $1.5B.
4 Cash + Overlay Exposure is the sum of Physical Cash Exposure, $324.4M, Parametric Account
Value, $89.8M, and Overlay Exposure, -$391.2M, for a Total Cash + Overlay Exposure of $23.0M.
5 May not sum to 100% due to rounding.