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 | |
|---|---|---|---|---|---|---|
2001
Scansource
SCSC
$1.06B
| $2.08M | ﹤0.01% |
56,414
+3,333
| +6% | +$113K |
|
|
GMS
2002
DELISTED
GMS Inc
GMS
| $2.08M | ﹤0.01% |
76,810
+12,124
| +19% | +$356K |
|
2003
Vishay Precision Group
VPG
$908M
| $2.08M | ﹤0.01% |
61,146
+178
| +0.3% | +$5.98K |
|
2004
Clarus
CLAR
$141M
| $2.08M | ﹤0.01% |
153,685
+142,293
| +1,249% | +$1.76M |
|
|
CSR
2005
Centerspace
CSR
$925M
| $2.07M | ﹤0.01% |
28,559
-1,220
| -4% | -$91.1K |
|
|
JCAP
2006
DELISTED
Jernigan Capital, Inc.
JCAP
| $2.07M | ﹤0.01% |
108,058
+73,005
| +208% | +$1.34M |
|
2007
WillScot Mobile Mini Holdings
WSC
$4.17B
| $2.06M | ﹤0.01% |
111,678
+29,478
| +36% | +$495K |
|
2008
Aspen Aerogels
ASPN
$504M
| $2.06M | ﹤0.01% |
265,804
-56,896
| -18% | -$393K |
|
|
GTHX
2009
DELISTED
G1 Therapeutics, Inc. Common Stock
GTHX
| $2.06M | ﹤0.01% |
77,862
+10,700
| +16% | +$250K |
|
|
WIFI
2010
DELISTED
Boingo Wireless, Inc.
WIFI
| $2.06M | ﹤0.01% |
187,931
+110,700
| +143% | +$1.2M |
|
|
CHK
2011
DELISTED
Chesapeake Energy Corporation
CHK
| $2.06M | ﹤0.01% |
12,453
+1,629
| +15% | +$327K |
|
|
SWCH
2012
DELISTED
Switch, Inc. Class A Common Stock
SWCH
| $2.05M | ﹤0.01% |
138,071
-870
| -0.6% | -$13.2K |
|
2013
Tilly's
TLYS
$121M
| $2.04M | ﹤0.01% |
166,700
-60,600
| -27% | -$641K |
|
2014
Columbia Financial
CLBK
$1.21B
| $2.04M | ﹤0.01% |
120,495
+15,400
| +15% | +$254K |
|
2015
Apogee Enterprises
APOG
$897M
| $2.03M | ﹤0.01% |
62,577
-6,374
| -9% | -$237K |
|
2016
REX American Resources
REX
$1.44B
| $2.03M | ﹤0.01% |
148,800
-14,754
| -9% | -$204K |
|
|
FARO
2017
DELISTED
Faro Technologies
FARO
| $2.03M | ﹤0.01% |
40,232
+4,500
| +13% | +$220K |
|
2018
Arcos Dorados Holdings
ARCO
$1.71B
| $2.02M | ﹤0.01% |
256,756
+26,621
| +12% | +$192K |
|
2019
Peloton Interactive
PTON
$2.44B
| $2.02M | ﹤0.01% |
+71,197
| New | +$1.92M |
|
2020
Air T
AIRT
$78.1M
| $2.02M | ﹤0.01% |
100,300
| – | – |
|
|
CCF
2021
DELISTED
Chase Corporation
CCF
| $2.02M | ﹤0.01% |
17,051
+300
| +2% | +$34.8K |
|
2022
Napco Security Technologies
NSSC
$1.37B
| $2.02M | ﹤0.01% |
137,346
-39,316
| -22% | -$570K |
|
|
ODT
2023
DELISTED
Odonate Therapeutics, Inc. Common Stock
ODT
| $2.02M | ﹤0.01% |
62,156
-16,167
| -21% | -$501K |
|
2024
German American Bancorp
GABC
$1.92B
| $2.01M | ﹤0.01% |
56,383
+7,200
| +15% | +$241K |
|
|
AD
2025
Array Digital Infrastructure
AD
$3.04B
| $2M | ﹤0.01% |
55,343
+24,506
| +79% | +$859K |
|
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.