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 |
YHOO
Yahoo Inc
YHOO
|
+$88.6M |
| 2 |
Zoetis
ZTS
|
+$66M |
| 3 |
Yum! Brands
YUM
|
+$54.5M |
| 4 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$45.5M |
| 5 |
Zimmer Biomet
ZBH
|
+$42.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apollo Global Management
APO
|
+$111M |
| 2 |
SE
Spectra Energy Corp Wi
SE
|
+$57.7M |
| 3 |
Apple
AAPL
|
+$56.7M |
| 4 |
STJ
St Jude Medical
STJ
|
+$53.3M |
| 5 |
Microsoft
MSFT
|
+$50.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.67% |
| 2 | Technology | 15.02% |
| 3 | Healthcare | 12.8% |
| 4 | Industrials | 10.81% |
| 5 | Consumer Discretionary | 9.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PPL
201
PPL Corp
PPL
$26.4B
| $62.7M | 0.1% |
1,675,619
-27,700
| -2% | -$991K |
|
202
Kroger
KR
$34.3B
| $62.4M | 0.1% |
2,116,038
-68,400
| -3% | -$2.19M |
|
203
Ross Stores
ROST
$80B
| $61.8M | 0.1% |
938,800
-54,400
| -5% | -$3.64M |
|
204
Prologis
PLD
$132B
| $61.7M | 0.1% |
1,189,154
-65,100
| -5% | -$3.31M |
|
205
NXP Semiconductors
NXPI
$59.5B
| $61.3M | 0.1% |
592,161
| – | – |
|
206
Analog Devices
ADI
$188B
| $61.2M | 0.1% |
747,111
+81,911
| +12% | +$6.43M |
|
207
M&T Bank
MTB
$36.4B
| $60.9M | 0.1% |
393,774
+16,300
| +4% | +$2.64M |
|
208
Xcel Energy
XEL
$48.7B
| $60.4M | 0.1% |
1,359,895
+7,100
| +0.5% | +$301K |
|
209
Public Service Enterprise Group
PEG
$37.7B
| $60.3M | 0.1% |
1,359,365
-43,600
| -3% | -$1.92M |
|
210
Freeport-McMoran
FCX
$97B
| $60M | 0.1% |
4,493,593
-743,700
| -14% | -$10.7M |
|
211
Fidelity National Information Services
FIS
$21.5B
| $59.8M | 0.1% |
751,100
-32,700
| -4% | -$2.63M |
|
212
Gen Digital
GEN
$16.9B
| $59.7M | 0.1% |
1,945,481
+13,900
| +0.7% | +$394K |
|
213
Cardinal Health
CAH
$54.9B
| $59.1M | 0.1% |
724,523
-29,400
| -4% | -$2.31M |
|
214
Consolidated Edison
ED
$39.7B
| $59.1M | 0.1% |
760,533
-13,000
| -2% | -$977K |
|
215
Republic Services
RSG
$66.1B
| $57.4M | 0.09% |
914,313
-33,900
| -4% | -$2.03M |
|
216
Ameriprise Financial
AMP
$49.4B
| $56.8M | 0.09% |
437,928
-22,500
| -5% | -$2.78M |
|
217
Western Digital
WDC
$158B
| $56.4M | 0.09% |
903,649
-3,969
| -0.4% | -$228K |
|
218
APA Corp
APA
$14B
| $56.4M | 0.09% |
1,096,840
-96,400
| -8% | -$5.42M |
|
219
Welltower
WELL
$165B
| $56.2M | 0.09% |
794,060
-47,500
| -6% | -$3.2M |
|
220
Coty
COTY
$2.44B
| $55.8M | 0.09% |
3,079,724
-131,600
| -4% | -$2.49M |
|
221
Omnicom Group
OMC
$23.2B
| $55.8M | 0.09% |
647,610
-15,300
| -2% | -$1.31M |
|
222
International Paper
IP
$21.6B
| $55.7M | 0.09% |
1,158,506
-53,222
| -4% | -$2.67M |
|
223
Equity Residential
EQR
$24.2B
| $55.6M | 0.09% |
893,256
+45,900
| +5% | +$2.87M |
|
224
Parker-Hannifin
PH
$134B
| $55.5M | 0.09% |
346,324
-22,000
| -6% | -$3.34M |
|
|
EA
225
DELISTED
Electronic Arts
EA
| $55.4M | 0.09% |
618,300
+16,400
| +3% | +$1.4M |
|
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California Public Employees Retirement System's Q1 2017 Portfolio in Review
As of Q1 2017, California Public Employees Retirement System held 3,495 positions worth $61.3B, up 2.8% from $59.6B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Trading was light in Q1 2017: portfolio turnover was 4.3%. California Public Employees Retirement System opened 60 new positions and exited 90, leaving the 3,495-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.
- California Public Employees Retirement System's largest Q1 2017 buy was Athene Holding Ltd. Class A Common Shares: 917,964 shares worth $45.7M.
- California Public Employees Retirement System added most to Yahoo Inc in Q1 2017, an estimated $88.6M increase.
- California Public Employees Retirement System's biggest Q1 2017 reduction was Apollo Global Management, cutting an estimated $111M.
- California Public Employees Retirement System fully exited Spectra Energy Corp Wi in Q1 2017, selling an estimated $57.7M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $61.3B portfolio in Q1 2017.
- California Public Employees Retirement System opened 60 new positions and closed 90 in Q1 2017.
- California Public Employees Retirement System's portfolio value rose 2.8% quarter-over-quarter to $61.3B.
Based on California Public Employees Retirement System's 13F filing for Q1 2017, filed 11 May 2017.