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California State Teachers Retirement System
The California State Teachers Retirement System (CalSTRS) is the largest educator-only pension fund in the world and the second largest public pension fund in the United States. Headquartered in West Sacramento, California, CalSTRS was established by law in 1913. It provides retirement, disability, and survivor benefits for California’s public school educators from prekindergarten through community college. As a major institutional investor, CalSTRS supports over 975,000 members and their beneficiaries and employs hundreds of professionals who manage assets, provide benefits, and serve members.
Investment Strategy
CalSTRS follows a diversified, long-term investment strategy across global public equities, fixed income, real estate, private equity, and sustainable investments. Its approach emphasizes prudent risk management, maximizing risk-adjusted returns to meet current and future pension obligations for educators. The fund incorporates ESG (environmental, social, and governance) factors, focuses on sustainability, and has a net-zero emissions commitment. CalSTRS actively manages its portfolio, leveraging internal and external expertise, and adapts investment policies to evolving markets and member needs.
Latest 13F Filing Activity
California State Teachers Retirement System filed their most recent 13F report on Jun 30, 2025 disclosing 1,206 equity positions with a total 13F market value of $90B. The fund increased holdings in Microsoft Corp., Amazon Com Inc., Netflix Inc. among other positions. California State Teachers Retirement System reduced exposure to Discover Financial Services, Berkshire Hathaway Inc. CL B, Abbvie Inc. among others.
Top Holdings
Equity Positions (1,206)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M MSFT | MICROSOFT CORP | 6.13% | $5.52B | 11,103,803 | $61.52 | $497.41 | +$1.38B |
A AMZN | AMAZON COM INC | 3.66% | $3.29B | 15,005,231 | $44.16 | $219.39 | +$484.2M |
| ALPHABET INC CL A | 1.84% | $1.66B | 9,403,282 | $58.46 | $176.23 | +$239.0M | |
G GOOG | ALPHABET INC CL C | 1.48% | $1.33B | 7,509,527 | $63.06 | $177.39 | +$124.2M |
| BERKSHIRE HATHAWAY INC CL B | 1.14% | $1.03B | 2,113,265 | $141.86 | $485.77 | -$70.7M |
Industry Allocation
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