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 |
Coty
COTY
|
+$47.4M |
| 2 |
Yum China
YUMC
|
+$23.3M |
| 3 |
Howmet Aerospace
HWM
|
+$20.1M |
| 4 |
Adient
ADNT
|
+$10.4M |
| 5 |
Lamb Weston
LW
|
+$9.39M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$97.4M |
| 2 |
Microsoft
MSFT
|
+$66.2M |
| 3 |
Synchrony
SYF
|
+$64.1M |
| 4 |
JPMorgan Chase
JPM
|
+$56.3M |
| 5 |
ExxonMobil
XOM
|
+$50.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.67% |
| 2 | Technology | 14.35% |
| 3 | Healthcare | 12.28% |
| 4 | Industrials | 11.1% |
| 5 | Consumer Discretionary | 9.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Bristol-Myers Squibb
BMY
$131B
| $210M | 0.35% |
3,592,674
-337,300
| -9% | -$18.4M |
|
52
American International
AIG
$39.9B
| $202M | 0.34% |
3,099,756
-109,700
| -3% | -$6.89M |
|
53
CVS Health
CVS
$121B
| $198M | 0.33% |
2,509,816
-215,760
| -8% | -$17.5M |
|
54
United Parcel Service
UPS
$88.5B
| $193M | 0.32% |
1,682,926
-101,900
| -6% | -$11.5M |
|
|
TWX
55
DELISTED
Time Warner Inc
TWX
| $192M | 0.32% |
1,994,166
-140,419
| -7% | -$12.5M |
|
56
Alibaba
BABA
$299B
| $185M | 0.31% |
2,110,760
-172,300
| -8% | -$16.6M |
|
57
ConocoPhillips
COP
$153B
| $184M | 0.31% |
3,678,441
-43,400
| -1% | -$2M |
|
58
Texas Instruments
TXN
$253B
| $182M | 0.3% |
2,488,340
-175,000
| -7% | -$12.5M |
|
59
Starbucks
SBUX
$123B
| $180M | 0.3% |
3,233,540
-256,352
| -7% | -$14.2M |
|
60
Accenture
ACN
$110B
| $178M | 0.3% |
1,520,919
-93,800
| -6% | -$11.1M |
|
61
Eli Lilly
LLY
$1.09T
| $177M | 0.3% |
2,410,856
-70,000
| -3% | -$5.21M |
|
62
Lockheed Martin
LMT
$141B
| $176M | 0.3% |
706,103
-52,100
| -7% | -$13M |
|
|
AGN
63
DELISTED
Allergan plc
AGN
| $167M | 0.28% |
794,186
-36,930
| -4% | -$7.65M |
|
64
Mondelez International
MDLZ
$79.1B
| $162M | 0.27% |
3,660,611
-194,000
| -5% | -$8.36M |
|
|
WBA
65
DELISTED
Walgreens Boots Alliance
WBA
| $162M | 0.27% |
1,957,744
-33,800
| -2% | -$2.8M |
|
|
DD
66
DELISTED
Du Pont De Nemours E I
DD
| $162M | 0.27% |
2,203,766
-120,800
| -5% | -$8.58M |
|
67
Costco
COST
$421B
| $161M | 0.27% |
1,007,955
-93,938
| -9% | -$14.3M |
|
68
PNC Financial Services
PNC
$102B
| $161M | 0.27% |
1,379,057
-52,600
| -4% | -$5.47M |
|
69
DuPont de Nemours
DD
$19.5B
| $159M | 0.27% |
1,096,265
-58,166
| -5% | -$8.1M |
|
70
American Express
AXP
$232B
| $159M | 0.27% |
2,141,526
-143,500
| -6% | -$9.93M |
|
71
Booking.com
BKNG
$159B
| $158M | 0.27% |
2,695,750
-215,725
| -7% | -$12.9M |
|
72
Duke Energy
DUK
$96.1B
| $153M | 0.26% |
1,970,489
-82,600
| -4% | -$6.33M |
|
73
Lowe's Companies
LOW
$122B
| $153M | 0.26% |
2,144,420
-358,421
| -14% | -$25.4M |
|
74
Caterpillar
CAT
$395B
| $149M | 0.25% |
1,604,735
-63,100
| -4% | -$5.72M |
|
75
NextEra Energy
NEE
$178B
| $149M | 0.25% |
4,979,436
-61,264
| -1% | -$1.83M |
|
Similar funds
California Public Employees Retirement System's Q4 2016 Portfolio in Review
As of Q4 2016, California Public Employees Retirement System held 3,549 positions worth $59.6B, down 2% from $60.8B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
California Public Employees Retirement System withdrew a net $3.56B in Q4 2016, closing 113 positions and reducing 2,056 holdings. Its most notable exit was LinkedIn Corporation, an estimated $47.6M position sold in full.
By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Healthcare.
Against the trend, California Public Employees Retirement System opened a new position in Yum China worth $22.3M.
- California Public Employees Retirement System's largest Q4 2016 buy was Yum China: 854,662 shares worth $22.3M.
- California Public Employees Retirement System added most to Coty in Q4 2016, an estimated $47.4M increase.
- California Public Employees Retirement System's biggest Q4 2016 reduction was Apple, cutting an estimated $97.4M.
- California Public Employees Retirement System fully exited LinkedIn Corporation in Q4 2016, selling an estimated $47.6M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $59.6B portfolio in Q4 2016.
- California Public Employees Retirement System opened 69 new positions and closed 113 in Q4 2016.
- California Public Employees Retirement System's portfolio value fell 2% quarter-over-quarter to $59.6B.
Based on California Public Employees Retirement System's 13F filing for Q4 2016, filed 10 Feb 2017.