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 |
Medtronic
MDT
|
+$302M |
| 2 |
Visa
V
|
+$277M |
| 3 |
AGN
Allergan plc
AGN
|
+$101M |
| 4 |
Equinix
EQIX
|
+$36.2M |
| 5 |
Qorvo
QRVO
|
+$30.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan Inc
AGN
|
+$179M |
| 2 |
Wells Fargo
WFC
|
+$126M |
| 3 |
Microsoft
MSFT
|
+$117M |
| 4 |
Johnson & Johnson
JNJ
|
+$97.2M |
| 5 |
Occidental Petroleum
OXY
|
+$97.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16% |
| 2 | Healthcare | 14.6% |
| 3 | Technology | 14.14% |
| 4 | Industrials | 10.84% |
| 5 | Consumer Discretionary | 9.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Ford
F
$55.1B
| $161M | 0.24% |
10,754,054
-646,818
| -6% | -$10M |
|
77
HP
HPQ
$26.3B
| $160M | 0.24% |
11,727,553
-3,785,691
| -24% | -$56.2M |
|
78
Target
TGT
$69.6B
| $158M | 0.24% |
1,938,861
+48,440
| +3% | +$3.92M |
|
|
MON
79
DELISTED
Monsanto Co
MON
| $155M | 0.23% |
1,457,082
-76,900
| -5% | -$8.92M |
|
80
Morgan Stanley
MS
$343B
| $153M | 0.23% |
3,951,610
-2,121,809
| -35% | -$80.7M |
|
81
Simon Property Group
SPG
$71.3B
| $152M | 0.23% |
881,355
-32,350
| -4% | -$5.95M |
|
82
Caterpillar
CAT
$398B
| $152M | 0.23% |
1,790,635
-36,194
| -2% | -$3.11M |
|
83
Booking.com
BKNG
$159B
| $152M | 0.23% |
3,296,475
-287,000
| -8% | -$13.7M |
|
84
Duke Energy
DUK
$96.4B
| $151M | 0.23% |
2,131,989
-43,230
| -2% | -$3.27M |
|
85
Texas Instruments
TXN
$254B
| $149M | 0.22% |
2,896,440
-666,976
| -19% | -$36.8M |
|
|
TWC
86
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $148M | 0.22% |
833,413
+32,578
| +4% | +$5.4M |
|
87
FedEx
FDX
$76.9B
| $147M | 0.22% |
862,426
-76,900
| -8% | -$13.4M |
|
88
MetLife
MET
$61.4B
| $147M | 0.22% |
2,940,801
-794,713
| -21% | -$37.6M |
|
89
McKesson
MCK
$103B
| $146M | 0.22% |
649,376
-149,691
| -19% | -$34.6M |
|
90
PNC Financial Services
PNC
$102B
| $145M | 0.22% |
1,520,457
-314,945
| -17% | -$29.8M |
|
|
BNY
91
Bank of New York Mellon
BNY
$110B
| $145M | 0.22% |
3,462,428
-52,000
| -1% | -$2.22M |
|
92
Elevance Health
ELV
$85.9B
| $143M | 0.21% |
871,809
+61,895
| +8% | +$9.89M |
|
93
NextEra Energy
NEE
$179B
| $142M | 0.21% |
5,777,500
-153,696
| -3% | -$3.91M |
|
94
Baidu
BIDU
$35.4B
| $140M | 0.21% |
700,792
-301,556
| -30% | -$61.7M |
|
95
Danaher
DHR
$146B
| $137M | 0.21% |
2,377,487
-162,174
| -6% | -$9.29M |
|
96
Thermo Fisher Scientific
TMO
$222B
| $137M | 0.21% |
1,052,100
+6,300
| +0.6% | +$821K |
|
97
General Dynamics
GD
$106B
| $135M | 0.2% |
955,111
-98,600
| -9% | -$13.7M |
|
98
TJX Companies
TJX
$170B
| $135M | 0.2% |
4,070,664
-505,500
| -11% | -$16.8M |
|
|
DTV
99
DELISTED
DIRECTV COM STK (DE)
DTV
| $134M | 0.2% |
1,449,489
-184,310
| -11% | -$16.7M |
|
100
Capital One
COF
$136B
| $133M | 0.2% |
1,513,766
+1,300
| +0.1% | +$109K |
|
Similar funds
California Public Employees Retirement System's Q2 2015 Portfolio in Review
As of Q2 2015, California Public Employees Retirement System held 3,921 positions worth $66.6B, down 8% from $72.4B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
California Public Employees Retirement System withdrew a net $6.88B in Q2 2015, closing 244 positions and reducing 1,591 holdings. Its most notable exit was Allergan Inc, an estimated $179M position sold in full.
By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 16% a quarter earlier, followed by Healthcare and Technology.
Against the trend, California Public Employees Retirement System opened a new position in Medtronic worth $293M.
- California Public Employees Retirement System's largest Q2 2015 buy was Medtronic: 3,948,339 shares worth $293M.
- California Public Employees Retirement System added most to Visa in Q2 2015, an estimated $277M increase.
- California Public Employees Retirement System's biggest Q2 2015 reduction was Wells Fargo, cutting an estimated $126M.
- California Public Employees Retirement System fully exited Allergan Inc in Q2 2015, selling an estimated $179M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $66.6B portfolio in Q2 2015.
- California Public Employees Retirement System opened 110 new positions and closed 244 in Q2 2015.
- California Public Employees Retirement System's portfolio value fell 8% quarter-over-quarter to $66.6B.
Based on California Public Employees Retirement System's 13F filing for Q2 2015, filed 14 Aug 2015.