Last verified 2026-10-01

University of California — assets, returns and funding

Q: How much does University of California have in assets?

University of California reported $110.8bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

Q: What return did University of California make on its investments?

University of California reported a 12.7% one-year investment return for fiscal year 2025, and 7.7% a year over the past ten years, per the Public Plans Database.

Q: Is University of California fully funded?

University of California was 85.4% funded for fiscal year 2025 — above the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).

Q: How is University of California's money invested?

University of California held 64.0% of its assets in public equities and 10.0% in fixed income (bonds), its largest sleeves for fiscal year 2025 (Public Plans Database).

Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge

Newest reported year for this plan: fiscal year 2025 — public plans publish audited figures 6–12 months after year end, and the database compiles them in batches, so this is the current public record, not a stale copy.

University of California (California) reported $110.8bn of assets for fiscal year 2025, a one-year investment return of 12.7%, and was 85.4% funded — around the ~80% mark the industry reads as sound.

Total assets (FY 2025)	$110.8bn
1-year return	12.7%
5-year return (annualised)	10.1%
10-year return (annualised)	7.7%
Funded ratio (GASB)	85.4%

How the money is invested (asset allocation)

University of California held 64.0% of its assets in public equities and 10.0% in fixed income (bonds) for fiscal year 2025 — the largest of 6 sleeves it reports, with the rest below:

Public equities	64.0%
Fixed income (bonds)	10.0%
Private equity	9.0%
Commodities	9.0%
Real estate	8.0%
Hedge funds	0.0%

The plans most worth reading University of California against — similar in size, or invested in the same managers — side by side, each with its own page for the detail:

Plan	Assets	1-yr return	Funded ratio	Why comparable
California PERF (CalPERS)	$563.0bn	11.6%	71.3%	Same state — California
California Teachers (CalSTRS)	$370.2bn	8.5%	76.7%	Same state — California
LA County (CA) ERS	$86.2bn	9.7%	82.0%	Same state — California
San Francisco (CA) ERS	$37.5bn	7.9%	96.8%	Same state — California
Los Angeles (CA) Fire and Police	$30.5bn	11.3%	100.6%	Same state — California
Orange County (CA) ERS	$24.0bn	10.0%	83.8%	Same state — California

Questions this page answers

How much does University of California have in assets?

University of California reported $110.8bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

What return did University of California make on its investments?

University of California reported a 12.7% one-year investment return for fiscal year 2025, and 7.7% a year over the past ten years, per the Public Plans Database.

Is University of California fully funded?

University of California was 85.4% funded for fiscal year 2025 — above the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).

How is University of California's money invested?

University of California held 64.0% of its assets in public equities and 10.0% in fixed income (bonds), its largest sleeves for fiscal year 2025 (Public Plans Database).

Figures as reported for fiscal year 2025 · Data: Public Plans Database (Center for Retirement Research at Boston College / MissionSquare Research Institute / NASRA) — used with attribution under its non-commercial terms · Refresh: quarterly pull, annual figures · Limitations: public plans report with a lag — FY figures arrive months after year end; returns are as reported by the plan, net/gross basis varies by plan

See also: all tracked plans · how the private-equity funds these plans invest in have actually performed, from the plans' own disclosures: private market performance, and where plans' numbers diverge on the same fund.