Asset Allocation as of June 30, 2026
Using the combined resources of external investment managers, internal staff and consultants, TRS invests the trust assets in accordance with the general fiduciary rules of both state and federal laws. The market value of the TRS total fund on June 30, 2026 was $86.70 billion. Below is the asset allocation as of June 30, 2026.
Asset Class | 6/30/2026 Total Fund Millions | % of Portfolio |
|---|---|---|
| Equity Composite | $46,766.15 | 54.00 |
| Income Composite | 21,845.12 | 25.20 |
| Real Assets Composite | 13,654.77 | 15.70 |
| Diversifying Strategies Composite | 4,456.65 | 5.10 |
| Total Fund | 86,722.69 | 100% |
Investment Returns
Listed below are the rates of return by asset class for the one–, three–, five–, and ten–year periods ending June 30, 2026. Returns are after payment of investment expenses. Benchmarks are listed to comply with Public Act 96–0006.
| Asset Class | 1–Year Return | 3–Year Return | 5–Year Return | 10–Year Return |
|---|---|---|---|---|
| TRS Total Fund | 13.7 | 10.7 | 7.5 | 8.8 |
| TRS Policy Index | 15.2 | 12.0 | 7.3 | 8.8 |
| Equity Composite1 | 20.2 | 16.0 | 10.1 | 13.0 |
| Equity Composite Benchmark | 24.9 | 20.7 | 12.0 | 14.2 |
| Income Composite2 | 6.3 | 7.5 | 4.6 | 4.6 |
| Income Composite Benchmark | 4.2 | 4.6 | 0.6 | 1.7 |
| Real Assets Composite3 | 6.4 | 1.4 | 4.3 | 5.1 |
| Real Assets Composite Benchmark | 3.7 | (0.3) | 2.8 | 4.6 |
| Diversifying Strategies Composite4 | 10.7 | 4.7 | 4.7 | 4.3 |
| Diversifying Strategies Composite Benchmark | 13.3 | 6.6 | 6.3 | 5.9 |
- The Equity Composite consists of public equity and private equity.
- The Income Composite consists of low duration, beta plus, non‐dollar/EMD, short-term cash, global multicredit solutions and private debt.
- The Real Assets Composite consists of core/value-add real estate, opportunistic real estate, and other real assets.
- The Diversifying Strategies Composite consists of factor, discretionary macro, opportunistic alpha, risk parity, systematic macro and other.
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