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 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$320M |
| 2 |
Alibaba
BABA
|
+$242M |
| 3 |
Verizon
VZ
|
+$220M |
| 4 |
iShares MSCI EAFE ETF
EFA
|
+$196M |
| 5 |
Amazon
AMZN
|
+$149M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CELG
Celgene Corp
CELG
|
+$168M |
| 2 |
UnitedHealth
UNH
|
+$165M |
| 3 |
Procter & Gamble
PG
|
+$119M |
| 4 |
Honeywell
HON
|
+$106M |
| 5 |
Progressive
PGR
|
+$102M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.74% |
| 2 | Financials | 15.18% |
| 3 | Healthcare | 13.09% |
| 4 | Consumer Discretionary | 9.99% |
| 5 | Consumer Staples | 8.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1926
Heritage Financial
HFWA
$1.23B
| $2.42M | ﹤0.01% |
85,479
+9,600
| +13% | +$265K |
|
1927
Black Stone Minerals
BSM
$3.08B
| $2.41M | ﹤0.01% |
189,664
+3,687
| +2% | +$47K |
|
|
HUYA
1928
Huya Inc
HUYA
$526M
| $2.41M | ﹤0.01% |
134,335
+16,376
| +14% | +$346K |
|
|
BEST
1929
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
| $2.41M | ﹤0.01% |
21,679
+1,782
| +9% | +$195K |
|
|
DMC
1930
Del Monte Corp
DMC
$1.44B
| $2.4M | ﹤0.01% |
68,723
+11,179
| +19% | +$358K |
|
|
BAND
1931
Bandwidth Inc
BAND
$1.71B
| $2.4M | ﹤0.01% |
37,476
-2,291
| -6% | -$133K |
|
1932
Westlake Chemical Partners
WLKP
$760M
| $2.4M | ﹤0.01% |
90,834
-19,800
| -18% | -$455K |
|
|
AKS
1933
DELISTED
AK Steel Holding Corp
AKS
| $2.4M | ﹤0.01% |
728,106
+42,467
| +6% | +$118K |
|
1934
Adeia
ADEA
$3.31B
| $2.39M | ﹤0.01% |
487,987
-4,097
| -0.8% | -$21.8K |
|
1935
Canadian Solar
CSIQ
$1.06B
| $2.39M | ﹤0.01% |
108,036
-461
| -0.4% | -$8.35K |
|
|
HEP
1936
DELISTED
Holly Energy Partners, L.P.
HEP
| $2.38M | ﹤0.01% |
107,425
-1,489
| -1% | -$33.8K |
|
|
LGF.B
1937
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $2.37M | ﹤0.01% |
238,236
+44,000
| +23% | +$380K |
|
|
TRST
1938
Trustco Bank Corp NY
TRST
$979M
| $2.36M | ﹤0.01% |
54,510
+8,401
| +18% | +$360K |
|
|
SRCI
1939
DELISTED
SRC Energy Inc
SRCI
| $2.36M | ﹤0.01% |
573,639
+38,545
| +7% | +$146K |
|
|
TRTX
1940
TPG RE Finance Trust
TRTX
$618M
| $2.35M | ﹤0.01% |
116,178
+13,400
| +13% | +$269K |
|
1941
Amphastar Pharmaceuticals
AMPH
$871M
| $2.35M | ﹤0.01% |
121,702
+13,441
| +12% | +$258K |
|
1942
HealthStream
HSTM
$835M
| $2.35M | ﹤0.01% |
86,220
+34,502
| +67% | +$949K |
|
1943
TFS Financial
TFSL
$4.96B
| $2.34M | ﹤0.01% |
118,757
-22,066
| -16% | -$426K |
|
1944
Marcus Corp
MCS
$924M
| $2.33M | ﹤0.01% |
73,448
+33,711
| +85% | +$1.14M |
|
|
BRSP
1945
BrightSpire Capital
BRSP
$635M
| $2.33M | ﹤0.01% |
176,915
+27,200
| +18% | +$370K |
|
|
HEES
1946
DELISTED
H&E Equipment Services
HEES
| $2.33M | ﹤0.01% |
69,545
+5,729
| +9% | +$186K |
|
1947
Chord Energy
CHRD
$7.59B
| $2.32M | ﹤0.01% |
711,357
+111,407
| +19% | +$319K |
|
|
ATNX
1948
DELISTED
Athenex, Inc. Common Stock
ATNX
| $2.31M | ﹤0.01% |
7,562
+1,903
| +34% | +$503K |
|
1949
The Bancorp
TBBK
$2.83B
| $2.31M | ﹤0.01% |
177,691
+99,307
| +127% | +$1.11M |
|
|
GPMT
1950
Granite Point Mortgage Trust
GPMT
$56.9M
| $2.3M | ﹤0.01% |
125,242
+15,014
| +14% | +$275K |
|
Similar funds
California Public Employees Retirement System's Q4 2019 Portfolio in Review
As of Q4 2019, California Public Employees Retirement System held 3,487 positions worth $110B, up 9.7% from $101B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
California Public Employees Retirement System's Q4 2019 filing shows 228 new, 1,918 increased, 914 reduced and 50 closed positions. Its largest new stake was State Street SPDR S&P 500 ETF Trust: 1,037,752 shares worth $334M. The largest sale was Celgene Corp, an estimated $168M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- California Public Employees Retirement System's largest Q4 2019 buy was State Street SPDR S&P 500 ETF Trust: 1,037,752 shares worth $334M.
- California Public Employees Retirement System added most to Alibaba in Q4 2019, an estimated $242M increase.
- California Public Employees Retirement System's biggest Q4 2019 reduction was UnitedHealth, cutting an estimated $165M.
- California Public Employees Retirement System fully exited Celgene Corp in Q4 2019, selling an estimated $168M.
- California Public Employees Retirement System's ten largest holdings make up 15% of its $110B portfolio in Q4 2019.
- California Public Employees Retirement System opened 228 new positions and closed 50 in Q4 2019.
- California Public Employees Retirement System's portfolio value rose 9.7% quarter-over-quarter to $110B.
Based on California Public Employees Retirement System's 13F filing for Q4 2019, filed 27 Jan 2020.