Stanford Long-Term Investing Fellowship (SLTIF)

OVERVIEW

The Stanford Long-Term Investing Fellowship (SLTIF) is now accepting applications for its third year. This program provides a group of stellar, mission-driven university graduates with the opportunity to spend 12 months deeply engaged in the world of long-term investing. Specifically, SLTI Fellows will spend one year working at Stanford University, with secondments to one of CalPERS' investment teams in Sacramento, CA or those at other leading long-term institutional investors (LTIs).

DECISION TIMELINE*

*updated December 31, 2025

January 16, 2026 —Application opens
February 28, 2026 — Application deadline (extended)
3rd Week of March — Screenings complete. Continuing applicants will be notified and their references contacted
April 3, 2026 — Deadline for reference submissions
April 6 - 30, 2026 — Interviews conducted
First Week of May 2026 — Final decisions

WHY SLTIF?

Long-term investors represent the base of capitalism and the foundation of our modern social safety nets. They invest over $140 trillion in global markets - in venture capital, private equity, climate infrastructure and more - to secure social promises like monthly pension payments to retirees and annual funds that can be distributed by philanthropic foundations.

CalPERS is the largest public pension system in the United States, deploying billions of dollars into critical sectors such as climate solutions and clean energy. The SLTIF will provide a unique pathway to develop a deep understanding of long-term investing and build a career shaping this industry. Fellows placed at CalPERS or other leading LTIs will have the opportunity to work at the heart of some of the largest and best-known public pension organizations in the world.

PROGRAM DETAILS

The Stanford Long-Term Investing Fellowship is a one-year, immersive rotational program that integrates learning, research, applied work, and exposure to long-term investing. Each spring, Stanford University selects and hires a cohort of four outstanding graduates from undergraduate and master’s programs across the United States. Fellows are brought to California for a structured year that includes time at Stanford University and placements with LTIs such as CalPERS.

STAGE 1: LEARNING AT STANFORD (AUGUST)

Fellows will spend a week on campus studying with Dr. Ashby Monk and the team at the Stanford Long-Term Investing Research Initiative. The purpose of this week will be to learn about the world of long-term investors and prepare them for the year they will spend working at CalPERS or another LTI. This stage will also establish SLTIF's unique goals for the year.

STAGE 2: WELCOME TO THE TEAM (SEPTEMBER)

Fellows will relocate to Sacramento, California, or other partner locations, and join a structured training program. They will then be placed on investment teams and rotational assignments.

STAGE 3: STANFORD RETREAT (JANUARY)

Fellows return to Stanford to share learnings and begin designing a final “case study” they will seek to complete in the Winter and Spring.

STAGE 4: LONG-TERM INVESTOR (LTI) PROJECTS (JANUARY TO JULY)

With 3 months under their belt, Fellows return to their investment teams for an intense Winter and Spring of work and apprenticeship. During this time, they will also collect data for a case study they will eventually publish upon completion of their Fellowship.

STAGE 5: DEBRIEFING / WRITING AT STANFORD (AUGUST)

Fellows will return to Stanford and write up their findings. They will then present their findings to their peers and incoming students.

STAGE 6: TEACHING AT STANFORD AND COMPLETION (END OF AUGUST)

The outgoing Fellows will teach the incoming Fellows as part of a “Learning at Stanford” event. This will include presentations of case studies and panels on different aspects of working at CalPERS (and other LTIs).