Palm Beach County has reached a total investment of $1 billion in Israel Bonds following a recent purchase of $350.5 million. Clerk of the Circuit Court & Comptroller Mike Caruso, who also serves as the county’s Chief Financial Officer, confirmed the transaction. The latest purchase brings the county’s total holdings in Israel Bonds to $1 billion.
Caruso stated that the investment, described as the largest single Israel Bonds holding by any entity, is based on considerations of safety, liquidity, and market-rate returns, according to the Clerk of the Circuit Court & Comptroller. The additional purchase is intended to adjust Palm Beach County’s investment portfolio and is projected to generate an estimated $47.2 million in interest income over the next three years.
The strategy was outlined during a briefing at the Main Courthouse in West Palm Beach and involves adjusting the investment portfolio in line with Palm Beach County’s $6 billion in assets. Clerk of the Circuit Court & Comptroller Mike Caruso, Mayor Sara Baxter, County Commissioner Gregg Weiss—who also serves as chairman of the Investment Policy Committee—and County Administrator Joseph Abruzzo attended the briefing to discuss the portfolio’s alignment with the county’s financial objectives.
The purchases were made yesterday, with Palm Beach County’s investment professionals, certified through Clerk Caruso’s office, managing the portfolio. The transactions followed a unanimous vote by the Palm Beach County Board of County Commissioners on October 21, 2025, to raise the investment cap for Israel Bonds from 15 percent to 18 percent of the portfolio. As per CBS12, Caruso said the bonds are yielding higher returns than other permitted investment options, including U.S. Treasuries.
The investments are guided by a policy established by the Clerk and the county’s Investment Policy Committee. According to the county, the policy is designed to manage risk while overseeing the use of tax dollars. Additional information about the portfolio and its management is available in the Investments section of the Clerk’s website.
