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 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$296M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$240M |
| 3 |
JOBS
51job Inc
JOBS
|
+$22.5M |
| 4 |
Intel
INTC
|
+$22.1M |
| 5 |
WP
Worldpay, Inc.
WP
|
+$21.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$334M |
| 2 |
Amazon
AMZN
|
+$151M |
| 3 |
Johnson & Johnson
JNJ
|
+$80M |
| 4 |
Microsoft
MSFT
|
+$69.8M |
| 5 |
Meta Platforms (Facebook)
META
|
+$65.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.47% |
| 2 | Technology | 16.8% |
| 3 | Healthcare | 12.75% |
| 4 | Industrials | 10.63% |
| 5 | Consumer Discretionary | 10.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Merck
MRK
$329B
| $398M | 0.57% |
7,663,655
-68,682
| -0.9% | -$3.71M |
|
27
Mastercard
MA
$491B
| $393M | 0.56% |
2,243,245
-110,391
| -5% | -$18.9M |
|
28
Alibaba
BABA
$300B
| $393M | 0.56% |
2,140,471
-320,749
| -13% | -$60.4M |
|
29
Comcast
CMCSA
$90.1B
| $380M | 0.54% |
11,131,841
-354,678
| -3% | -$13.8M |
|
30
Coca-Cola
KO
$373B
| $377M | 0.54% |
8,677,223
-1,095,031
| -11% | -$49.2M |
|
31
AbbVie
ABBV
$440B
| $377M | 0.54% |
3,979,252
-281,510
| -7% | -$30.9M |
|
32
PepsiCo
PEP
$189B
| $374M | 0.53% |
3,428,640
-200,048
| -6% | -$22.8M |
|
33
Walt Disney
DIS
$179B
| $372M | 0.53% |
3,702,139
-283,875
| -7% | -$30.2M |
|
34
IBM
IBM
$222B
| $352M | 0.5% |
2,402,885
-117,081
| -5% | -$17.7M |
|
35
DuPont de Nemours
DD
$19.4B
| $341M | 0.49% |
2,111,764
-143,630
| -6% | -$26M |
|
36
Berkshire Hathaway Class A
BRK.A
$1.09T
| $333M | 0.47% |
1,115
+5
| +0.5% | +$1.54M |
|
37
Amgen
AMGN
$225B
| $331M | 0.47% |
1,942,710
+71,903
| +4% | +$13.2M |
|
38
Oracle
ORCL
$441B
| $331M | 0.47% |
7,224,268
-336,672
| -4% | -$16.7M |
|
39
McDonald's
MCD
$195B
| $329M | 0.47% |
2,104,339
-170,560
| -7% | -$28.1M |
|
40
3M
MMM
$94.8B
| $321M | 0.46% |
1,746,500
-113,567
| -6% | -$22.5M |
|
41
GE Aerospace
GE
$379B
| $319M | 0.45% |
4,930,814
+76,157
| +2% | +$5.64M |
|
42
Walmart Inc
WMT
$920B
| $318M | 0.45% |
10,735,185
-1,145,448
| -10% | -$36.8M |
|
43
NVIDIA
NVDA
$5.41T
| $302M | 0.43% |
52,096,600
-540,160
| -1% | -$3.17M |
|
44
Union Pacific
UNP
$175B
| $280M | 0.4% |
2,083,278
-60,951
| -3% | -$8.2M |
|
45
Bristol-Myers Squibb
BMY
$130B
| $273M | 0.39% |
4,308,931
-172,298
| -4% | -$11.1M |
|
46
Texas Instruments
TXN
$253B
| $266M | 0.38% |
2,563,761
-5,750
| -0.2% | -$623K |
|
47
Gilead Sciences
GILD
$168B
| $262M | 0.37% |
3,477,113
+6,034
| +0.2% | +$480K |
|
48
Honeywell
HON
$74.4B
| $261M | 0.37% |
1,998,177
-466,522
| -19% | -$64.5M |
|
49
Medtronic
MDT
$116B
| $258M | 0.37% |
3,215,102
-173,357
| -5% | -$14.3M |
|
50
Netflix
NFLX
$309B
| $245M | 0.35% |
8,307,700
-381,600
| -4% | -$10.4M |
|
Similar funds
California Public Employees Retirement System's Q1 2018 Portfolio in Review
As of Q1 2018, California Public Employees Retirement System held 3,399 positions worth $70.2B, down 5.1% from $74B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
California Public Employees Retirement System withdrew a net $2.88B in Q1 2018, closing 114 positions and reducing 1,632 holdings. Its most notable exit was Scripps Networks Interactive, Inc Common Class A, an estimated $21M position sold in full.
By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.
Against the trend, California Public Employees Retirement System opened a new position in GCI Liberty, Inc. Class A Common Stock (DE) worth $15.4M.
- California Public Employees Retirement System's largest Q1 2018 buy was GCI Liberty, Inc. Class A Common Stock (DE): 291,278 shares worth $15.4M.
- California Public Employees Retirement System added most to Athene Holding Ltd. Class A Common Shares in Q1 2018, an estimated $296M increase.
- California Public Employees Retirement System's biggest Q1 2018 reduction was Alphabet (Google) Class C, cutting an estimated $334M.
- California Public Employees Retirement System fully exited Scripps Networks Interactive, Inc Common Class A in Q1 2018, selling an estimated $21M.
- California Public Employees Retirement System's ten largest holdings make up 16% of its $70.2B portfolio in Q1 2018.
- California Public Employees Retirement System opened 83 new positions and closed 114 in Q1 2018.
- California Public Employees Retirement System's portfolio value fell 5.1% quarter-over-quarter to $70.2B.
Based on California Public Employees Retirement System's 13F filing for Q1 2018, filed 11 May 2018.