Asset Allocation
Our Current Mix of Assets as of March 31, 2025
| Assets | Market Value | Actual | Target | Difference1 |
|---|---|---|---|---|
| Public Equity2 | $6,098,715,334 | 50.7% | 48.0% | 2.7% |
| Safe Haven Fixed Income3 | $1,293,750,051 | 10.8% | 10.0% | 0.8% |
| Risk Seeking Fixed Income | $492,198,695 | 4.1% | 4.0% | 0.1% |
| Real Estate | $835,301,627 | 6.9% | 8.2% | -1.3% |
| Private Equity | $988,491,159 | 8.2% | 11.0% | -2.8% |
| Absolute Return | $1,026,036,318 | 8.5% | 6.0% | 2.5% |
| Real Assets | $762,712,438 | 6.3% | 6.0% | 0.3% |
| Private Credit | $517,437,867 | 4.3% | 6.8% | -2.5% |
| Cash + Overlay4 | $15,448,778 | 0.1% | 0.0% | 0.1% |
| Total Investment Assets5 | $12,030,092,267 | 100.0% | 100.0% |
1 The Difference between Total Exposure and Policy.
2 Public Equity Total Exposure is the sum of Physical Exposure, $6.0B, and Overlay Exposure,
$133.2M, for a Total Equity Exposure of $6.1B.
3 Safe Haven Fixed Income Total Exposure is the sum of Physical Exposure, $1.3B, and Overlay
Exposure, $36.6M, for a Total Safe Haven Fixed Income Exposure of $1.3B.
4 Cash + Overlay Exposure is the sum of Physical Cash Exposure, $152.9M, Parametric Account
Value, $32.3M, and Overlay Exposure, -$169.8M, for a Total Cash + Overlay Exposure of $15.4M.
5 May not sum to 100% due to rounding.