Largest public pension plans’ asset growth

The 100 largest public pension systems had aggregate cash and investment assets of $5.35 trillion as of June 30. The total has risen for three straight quarters. Assets have grown more than 14% since the end of 2022.

Public equity, fixed income and cash made up almost 63% of the pension plans’ assets. That excludes mutual funds and exchange-traded funds, which totaled 0.9%. The pension plans had the largest portion of their assets, nearly 38%, invested in public equities. U.S. equities accounted for 24%, and international stocks were 13.9%. Private equity represented 16% of their assets.