According to a new new brief released today from Equable Institute, at least 18 public pension funds hold shares of Anthropic ahead of the company’s imminent initial public offering. Another 28 public pension funds invest in a single Insight Partners fund that may also hold Anthropic.
Equable’s research draws on Anthropic’s Form S-1 that was filed on October 26, 2026, publicly available documents and statements published by pension systems, along with additional data supported by PitchBook. It finds that pension funds primarily hold Anthropic through private equity and venture funds. Pension funds rarely disclose which companies those private funds own, limiting the scope of the analysis.
For all the details, download the brief below.
