SAN DIEGO, CA – San Diego County Treasurer-Tax Collector Larry Cohen today announced that the San Diego County Investment Pool generated $591 million in net interest earnings during Fiscal Year 2025–26, the highest annual earnings in County history.

The Investment Pool achieved an annual yield of 3.85%, an increase from 3.79% the previous fiscal year, while maintaining the safety, liquidity, and prudent risk management that are the foundation of the County's investment strategy. As of June 30, 2026, the Investment Pool had a book value of $16.7 billion.

"Setting a new record of $591 million in investment earnings is a tremendous accomplishment for San Diego County and the public agencies that entrust us with their funds," said Treasurer Cohen. "Every dollar we earn through prudent investing strengthens our region by helping fund essential public services while reducing pressure on taxpayers. Our investment philosophy is straightforward: protect principal, maintain liquidity, and maximize returns within the bounds of sound risk management. This year's results demonstrate that disciplined stewardship delivers meaningful benefits to our communities."

The strong annual performance was driven by consistent investment returns throughout the year. During the fourth quarter, ending June 30, 2026, the Investment Pool earned $166 million in net interest earnings and achieved an annualized yield of 3.92%.

The Treasurer-Tax Collector's Office manages investments on behalf of the County of San Diego, school districts, community college districts, special districts, and other local agencies. By investing public funds in high-quality fixed-income securities, the office generates earnings that help support day-to-day operations, capital projects, and essential public services throughout the region.

"Strong treasury management is about more than investment performance," Cohen added. "It's about earning the trust of our public partners through transparency, fiscal responsibility, and consistent results. We remain committed to protecting public resources while delivering long-term value for San Diego County."

San Diego County’s investment policies are established under the Pooled Money Fund Investment Policy and adhere to California state law. The Treasury team continues to earn national recognition for its commitment to excellence in public fund management, including:

• Fitch Rating’s ‘AAAf’/‘S1’ - 27th consecutive year earned
• GFOA’s “Excellence in Financial Reporting” Distinction - 28th consecutive year earned

About the San Diego County Treasurer-Tax Collector
The San Diego County Treasurer-Tax Collector’s Office is responsible for managing and investing public funds, collecting property taxes, and providing banking services to local agencies throughout the region. The office is dedicated to protecting public resources while delivering efficient, transparent, and customer-focused services. Learn more here.

About Larry Cohen, MBA

Larry Cohen is San Diego County's appointed Treasurer-Tax Collector, responsible for collecting over $9 billion in property taxes annually and managing an $18 billion pooled investment fund on behalf of every San Diegan. A lifelong San Diego native, Cohen previously served as Senior Policy Advisor on the U.S. House Financial Services Committee and spent over 20 years in Fortune 500 senior management roles at Schering-Plough, Thermo Fisher Scientific, and Merck KGaA. Mr. Cohen has a master’s in business administration from Strayer University in Washington, D.C., and he holds a Bachelor of Arts in Political Science from the University of California, San Diego. Click here to learn more.