The 100 largest U.S. public pension funds had a combined $3.365 trillion in cash and securities as of June 30, up 4.6% from three months earlier and 14.3% more than a year earlier, according to the U.S. Census Bureau's Quarterly Survey of Public Pensions.
The public pension funds reaped $129.4 billion from investment earnings in the second quarter.
Corporate stocks, making up 34.9% of all holdings, rose to $1.117 trillion. That amount was up 7.4% from March 31 and an increase of 15.5% from June 30, 2013. Corporate bonds, at 11% of all holdings, totaled $371.5 billion, a 7.1% increase from three months earlier and a 16.1% increase from a year earlier.
International securities, at 19.5% of all holdings, were a combined $656.5 billion, down 2.8% from March 31 but an 11.4% increase year-over-year.
U.S. government securities, at 9.1% of holdings, totaled $307.8 billion, up 12.4% from three months earlier and up 16% from a year earlier.
Of total contributions, 68% was provided by government sponsors and 32% came from employees. Government contributions totaled $24 billion, down 6.8% for the quarter and up 4.8% for the year.
The top 100 funds make up 89.4% of all U.S. public pension fund assets.
The quarterly report is available from the Census Bureau’s website.