California Public Employees Retirement System Portfolio holdings
The California Public Employees’ Retirement System (CalPERS), established in 1932 and headquartered in Sacramento, California, is the largest public pension fund in the U.S., managing over $510 billion in assets as of late 2024 to provide retirement and health benefits to more than 2 million state and local government employees, retirees, and their families. Operating as a defined benefit plan, CalPERS invests globally across equities, fixed income, real estate, private equity, and infrastructure, guided by a 13-member board and a commitment to sustainable investing and ESG (environmental, social, governance) principles under Chief Investment Officer Ben Meng since 2024. Known for its influential shareholder activism—pushing for corporate governance reforms—CalPERS serves over 3,000 employers, including state agencies and school districts, balancing long-term funding needs with a $100 billion unfunded liability challenge. As a cornerstone of California’s public sector, it blends financial stewardship with a mission to secure retiree livelihoods.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Merck
MRK
|
+$261M |
| 2 |
Becton Dickinson
BDX
|
+$198M |
| 3 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$186M |
| 4 |
Apple
AAPL
|
+$171M |
| 5 |
Johnson & Johnson
JNJ
|
+$152M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aflac
AFL
|
+$125M |
| 2 |
ONC
BeOne Medicines Ltd
ONC
|
+$68.8M |
| 3 |
UDR
UDR
|
+$61.6M |
| 4 |
IMMU
Immunomedics Inc
IMMU
|
+$40.1M |
| 5 |
NextEra Energy
NEE
|
+$38M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.29% |
| 2 | Healthcare | 14.28% |
| 3 | Financials | 12.51% |
| 4 | Consumer Discretionary | 11.95% |
| 5 | Communication Services | 9.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SRLP
3001
DELISTED
SPRAGUE RESOURCES LP
SRLP
| $432K | ﹤0.01% |
22,781
-400
| -2% | -$6.82K |
|
3002
Amalgamated Financial
AMAL
$1.53B
| $431K | ﹤0.01% |
31,380
-600
| -2% | -$7.63K |
|
3003
Northrim BanCorp
NRIM
$601M
| $431K | ﹤0.01% |
50,808
-7,848
| -13% | -$62.1K |
|
|
TCS
3004
DELISTED
THE CONTAINER STORE GROUP, INC.
TCS
| $431K | ﹤0.01% |
3,010
-35,050
| -92% | -$5.12M |
|
|
AIOT
3005
PowerFleet Inc
AIOT
$421M
| $430K | ﹤0.01% |
57,913
-1,200
| -2% | -$8.03K |
|
3006
CuriosityStream
CURI
$237M
| $428K | ﹤0.01% |
30,700
-600
| -2% | -$6.1K |
|
3007
Calumet Specialty Products
CLMT
$4.29B
| $427K | ﹤0.01% |
136,289
-2,700
| -2% | -$9.41K |
|
3008
Covenant Logistics
CVLG
$880M
| $425K | ﹤0.01% |
57,446
-1,000
| -2% | -$8.39K |
|
3009
Friedman Industries
FRD
$319M
| $425K | ﹤0.01% |
61,891
| – | – |
|
|
IHC
3010
DELISTED
Independence Holding Company
IHC
| $422K | ﹤0.01% |
10,289
-200
| -2% | -$7.98K |
|
3011
Pliant Therapeutics
PLRX
$66.9M
| $417K | ﹤0.01% |
18,347
-400
| -2% | -$10K |
|
|
TELL
3012
DELISTED
Tellurian Inc.
TELL
| $417K | ﹤0.01% |
325,496
| – | – |
|
3013
FS Bancorp
FSBW
$326M
| $416K | ﹤0.01% |
15,200
-2,386
| -14% | -$60.2K |
|
3014
Larimar Therapeutics
LRMR
$444M
| $416K | ﹤0.01% |
+19,451
| New | +$390K |
|
3015
National Bankshares
NKSH
$272M
| $416K | ﹤0.01% |
13,300
-1,461
| -10% | -$43.1K |
|
3016
Cato Corp
CATO
$66.7M
| $415K | ﹤0.01% |
43,300
-4,839
| -10% | -$38.2K |
|
3017
RPC Inc
RES
$1.39B
| $414K | ﹤0.01% |
131,373
-2,400
| -2% | -$7.21K |
|
|
TLMD
3018
DELISTED
SOC Telemed, Inc. Class A Common Stock
TLMD
| $414K | ﹤0.01% |
52,760
-1,100
| -2% | -$9.72K |
|
3019
First Capital
FCAP
$219M
| $412K | ﹤0.01% |
6,800
-100
| -1% | -$6.27K |
|
3020
Spok Holdings
SPOK
$230M
| $412K | ﹤0.01% |
37,000
-3,704
| -9% | -$36.6K |
|
|
EMKR
3021
DELISTED
Emcore Corp
EMKR
| $411K | ﹤0.01% |
7,540
| – | – |
|
3022
Epsilon Energy
EPSN
$161M
| $410K | ﹤0.01% |
+110,456
| New | +$360K |
|
|
AGRX
3023
DELISTED
Agile Therapeutics
AGRX
| $408K | ﹤0.01% |
71
-2
| -3% | -$11.8K |
|
3024
Stellus Capital Investment Corp
SCM
$254M
| $406K | ﹤0.01% |
37,300
-4,200
| -10% | -$41.6K |
|
3025
Fortress Biotech
FBIO
$99M
| $405K | ﹤0.01% |
8,513
-180
| -2% | -$7.8K |
|
Similar funds
California Public Employees Retirement System's Q4 2020 Portfolio in Review
As of Q4 2020, California Public Employees Retirement System held 3,678 positions worth $130B, up 15% from $112B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
California Public Employees Retirement System's Q4 2020 filing shows 119 new, 1,416 increased, 1,670 reduced and 115 closed positions. Its largest new stake was Seagen Inc. Common Stock: 998,612 shares worth $175M. The largest sale was Aflac, an estimated $125M.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 22% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q4 2020 buy was Seagen Inc. Common Stock: 998,612 shares worth $175M.
- California Public Employees Retirement System added most to Merck in Q4 2020, an estimated $261M increase.
- California Public Employees Retirement System's biggest Q4 2020 reduction was Aflac, cutting an estimated $125M.
- California Public Employees Retirement System fully exited BeOne Medicines Ltd in Q4 2020, selling an estimated $68.8M.
- California Public Employees Retirement System's ten largest holdings make up 18% of its $130B portfolio in Q4 2020.
- California Public Employees Retirement System opened 119 new positions and closed 115 in Q4 2020.
- California Public Employees Retirement System's portfolio value rose 15% quarter-over-quarter to $130B.
Based on California Public Employees Retirement System's 13F filing for Q4 2020, filed 2 Feb 2021.