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 | |
|---|---|---|---|---|---|---|
|
CVET
1176
DELISTED
Covetrus, Inc. Common Stock
CVET
| $7.67M | 0.01% |
266,861
+44,267
| +20% | +$1.19M |
|
1177
Nektar Therapeutics
NKTR
$2.57B
| $7.66M | 0.01% |
30,035
+5,842
| +24% | +$1.51M |
|
1178
Meritage Homes
MTH
$4.75B
| $7.65M | 0.01% |
184,772
+4,920
| +3% | +$233K |
|
1179
Old National Bancorp
ONB
$10.4B
| $7.65M | 0.01% |
461,992
+86,391
| +23% | +$1.32M |
|
|
VNET
1180
VNET Group
VNET
$2.12B
| $7.65M | 0.01% |
220,406
+34,420
| +19% | +$904K |
|
1181
EXL Service
EXLS
$5.36B
| $7.62M | 0.01% |
447,380
+55,300
| +14% | +$877K |
|
1182
Plains All American Pipeline
PAA
$16.4B
| $7.61M | 0.01% |
923,757
+30,161
| +3% | +$229K |
|
1183
Kratos Defense & Security Solutions
KTOS
$11.8B
| $7.61M | 0.01% |
277,472
+25,372
| +10% | +$555K |
|
1184
GATX Corp
GATX
$6.34B
| $7.61M | 0.01% |
91,493
+12,333
| +16% | +$944K |
|
1185
LXP Industrial Trust
LXP
$3.58B
| $7.59M | 0.01% |
142,912
+17,816
| +14% | +$940K |
|
|
HMSY
1186
DELISTED
HMS Holdings Corp.
HMSY
| $7.55M | 0.01% |
205,472
+5,511
| +3% | +$167K |
|
1187
AMN Healthcare
AMN
$1.34B
| $7.55M | 0.01% |
110,581
+2,269
| +2% | +$148K |
|
1188
AllianceBernstein
AB
$3.4B
| $7.54M | 0.01% |
223,173
-3,784
| -2% | -$120K |
|
1189
Beam Therapeutics
BEAM
$2.74B
| $7.51M | 0.01% |
91,982
+11,966
| +15% | +$588K |
|
1190
Upwork
UPWK
$1.05B
| $7.49M | 0.01% |
216,819
+24,119
| +13% | +$690K |
|
|
GTM
1191
ZoomInfo Technologies
GTM
$1.25B
| $7.47M | 0.01% |
154,966
+4,727
| +3% | +$204K |
|
|
EQC
1192
DELISTED
Equity Commonwealth
EQC
| $7.45M | 0.01% |
273,013
+6,382
| +2% | +$170K |
|
1193
Vishay Intertechnology
VSH
$5.11B
| $7.44M | 0.01% |
359,064
+53,780
| +18% | +$992K |
|
1194
8x8 Inc
EGHT
$290M
| $7.43M | 0.01% |
215,446
+746
| +0.3% | +$16K |
|
1195
Texas Capital Bancshares
TCBI
$4.38B
| $7.42M | 0.01% |
124,731
+2,819
| +2% | +$139K |
|
|
UNVR
1196
DELISTED
Univar Solutions Inc.
UNVR
| $7.42M | 0.01% |
390,041
+9,181
| +2% | +$166K |
|
1197
Ingevity
NGVT
$2.62B
| $7.41M | 0.01% |
97,797
+2,353
| +2% | +$153K |
|
1198
Cathay General Bancorp
CATY
$4.31B
| $7.34M | 0.01% |
227,978
+53,946
| +31% | +$1.47M |
|
1199
Under Armour Class C
UA
$2.2B
| $7.3M | 0.01% |
490,725
+79,525
| +19% | +$1.06M |
|
1200
First Hawaiian
FHB
$3.36B
| $7.28M | 0.01% |
308,900
+6,723
| +2% | +$134K |
|
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.