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 |
Walmart Inc
WMT
|
+$256M |
| 2 |
Target
TGT
|
+$134M |
| 3 |
Abbott
ABT
|
+$111M |
| 4 |
Verizon
VZ
|
+$84.9M |
| 5 |
NetEase
NTES
|
+$84.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$1.01B |
| 2 |
Apple
AAPL
|
+$271M |
| 3 |
Ross Stores
ROST
|
+$166M |
| 4 |
TIF
Tiffany & Co.
TIF
|
+$117M |
| 5 |
NVIDIA
NVDA
|
+$91.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.03% |
| 2 | Healthcare | 14.43% |
| 3 | Financials | 13.13% |
| 4 | Consumer Discretionary | 11.14% |
| 5 | Communication Services | 9.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1976
Omeros
OMER
$1.25B
| $2.14M | ﹤0.01% |
120,200
| – | – |
|
1977
PAR Technology
PAR
$769M
| $2.14M | ﹤0.01% |
32,700
-4,095
| -11% | -$304K |
|
|
NVEE
1978
DELISTED
NV5 Global
NVEE
| $2.13M | ﹤0.01% |
88,400
-8,384
| -9% | -$200K |
|
|
CWEN.A
1979
DELISTED
Clearway Energy Class A
CWEN.A
| $2.13M | ﹤0.01% |
80,232
-9,941
| -11% | -$287K |
|
|
DVAX
1980
DELISTED
Dynavax Technologies
DVAX
| $2.12M | ﹤0.01% |
216,100
-19,842
| -8% | -$164K |
|
|
VVNT
1981
DELISTED
Vivint Smart Home, Inc. Class A Common Stock
VVNT
| $2.12M | ﹤0.01% |
148,200
-16,312
| -10% | -$297K |
|
1982
Transmedics
TMDX
$3.1B
| $2.12M | ﹤0.01% |
51,100
| – | – |
|
1983
Krystal Biotech
KRYS
$9.75B
| $2.12M | ﹤0.01% |
27,500
| – | – |
|
1984
Stock Yards Bancorp
SYBT
$2.66B
| $2.12M | ﹤0.01% |
41,500
-3,750
| -8% | -$180K |
|
1985
Douglas Dynamics
PLOW
$969M
| $2.11M | ﹤0.01% |
45,800
-4,145
| -8% | -$191K |
|
1986
Extreme Networks
EXTR
$3.28B
| $2.11M | ﹤0.01% |
241,100
-23,442
| -9% | -$204K |
|
|
DOYU
1987
DouYu International Holdings
DOYU
$140M
| $2.09M | ﹤0.01% |
20,113
-1,305
| -6% | -$177K |
|
1988
Madrigal Pharmaceuticals
MDGL
$11.5B
| $2.09M | ﹤0.01% |
17,900
| – | – |
|
1989
MarineMax
HZO
$1.15B
| $2.09M | ﹤0.01% |
42,400
-7,285
| -15% | -$344K |
|
1990
Levi Strauss
LEVI
$8.59B
| $2.09M | ﹤0.01% |
87,300
-8,027
| -8% | -$180K |
|
|
CDMO
1991
DELISTED
Avid Bioservices, Inc. Common Stock
CDMO
| $2.08M | ﹤0.01% |
114,300
-10,636
| -9% | -$177K |
|
|
GES
1992
DELISTED
Guess Inc
GES
| $2.08M | ﹤0.01% |
88,600
-12,047
| -12% | -$297K |
|
|
JAMF
1993
DELISTED
Jamf
JAMF
| $2.08M | ﹤0.01% |
58,852
-5,485
| -9% | -$200K |
|
|
MCHB
1994
Mechanics Bancorp
MCHB
$3.82B
| $2.07M | ﹤0.01% |
47,000
-6,328
| -12% | -$263K |
|
1995
Heritage Financial
HFWA
$1.23B
| $2.07M | ﹤0.01% |
73,300
-6,779
| -8% | -$178K |
|
1996
Archrock
AROC
$5.99B
| $2.06M | ﹤0.01% |
217,049
-58,364
| -21% | -$572K |
|
|
AIV
1997
Aimco
AIV
$379M
| $2.06M | ﹤0.01% |
335,398
-33,939
| -9% | -$172K |
|
1998
Genesis Energy
GEL
$1.94B
| $2.06M | ﹤0.01% |
220,100
-32,486
| -13% | -$246K |
|
1999
Veeco
VECO
$3.27B
| $2.06M | ﹤0.01% |
99,100
-9,027
| -8% | -$188K |
|
|
NXGN
2000
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
| $2.05M | ﹤0.01% |
113,500
-10,227
| -8% | -$202K |
|
Similar funds
California Public Employees Retirement System's Q1 2021 Portfolio in Review
As of Q1 2021, California Public Employees Retirement System held 3,578 positions worth $131B, up 1.3% from $130B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
California Public Employees Retirement System withdrew a net $4.27B in Q1 2021, closing 50 positions and reducing 2,621 holdings. Its most notable exit was Tiffany & Co., an estimated $117M position sold in full.
By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 22% a quarter earlier, followed by Healthcare and Financials.
Against the trend, California Public Employees Retirement System opened a new position in BeOne Medicines Ltd worth $71.6M.
- California Public Employees Retirement System's largest Q1 2021 buy was BeOne Medicines Ltd: 205,769 shares worth $71.6M.
- California Public Employees Retirement System added most to Walmart Inc in Q1 2021, an estimated $256M increase.
- California Public Employees Retirement System's biggest Q1 2021 reduction was Alibaba, cutting an estimated $1.01B.
- California Public Employees Retirement System fully exited Tiffany & Co. in Q1 2021, selling an estimated $117M.
- California Public Employees Retirement System's ten largest holdings make up 17% of its $131B portfolio in Q1 2021.
- California Public Employees Retirement System opened 15 new positions and closed 50 in Q1 2021.
- California Public Employees Retirement System's portfolio value rose 1.3% quarter-over-quarter to $131B.
Based on California Public Employees Retirement System's 13F filing for Q1 2021, filed 14 May 2021.