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 |
EA
Electronic Arts
EA
|
+$217M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$217M |
| 3 |
Amazon
AMZN
|
+$205M |
| 4 |
T-Mobile US
TMUS
|
+$202M |
| 5 |
Microsoft
MSFT
|
+$192M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Realty Income
O
|
+$111M |
| 2 |
Healthpeak Properties
DOC
|
+$87.1M |
| 3 |
Hartford Financial Services
HIG
|
+$68.7M |
| 4 |
Annaly Capital Management
NLY
|
+$63.7M |
| 5 |
W.P. Carey
WPC
|
+$54.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.85% |
| 2 | Healthcare | 14.17% |
| 3 | Financials | 12.05% |
| 4 | Consumer Discretionary | 11.92% |
| 5 | Communication Services | 8.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Apple
AAPL
$4.5T
| $4.29B | 3.82% |
37,035,374
+348,346
| +0.9% | +$38M |
|
|
2
Microsoft
MSFT
$3.76T
| $3.74B | 3.32% |
17,766,804
+916,501
| +5% | +$192M |
|
|
3
Amazon
AMZN
$3T
| $3.19B | 2.84% |
20,289,160
+1,302,780
| +7% | +$205M |
|
4
Johnson & Johnson
JNJ
$631B
| $1.58B | 1.41% |
10,616,780
+864,547
| +9% | +$128M |
|
5
Verizon
VZ
$195B
| $1.48B | 1.31% |
24,840,005
+23,271
| +0.1% | +$1.35M |
|
6
Meta Platforms (Facebook)
META
$1.52T
| $1.45B | 1.29% |
5,524,033
+136,880
| +3% | +$35.3M |
|
7
PepsiCo
PEP
$188B
| $1.35B | 1.2% |
9,766,890
+168,406
| +2% | +$22.9M |
|
8
Procter & Gamble
PG
$340B
| $1.35B | 1.2% |
9,734,981
+202,512
| +2% | +$26.9M |
|
9
Visa
V
$675B
| $1.3B | 1.15% |
6,477,396
+114,021
| +2% | +$22.8M |
|
10
Coca-Cola
KO
$374B
| $1.25B | 1.11% |
25,306,518
+424,155
| +2% | +$20.4M |
|
11
Alibaba
BABA
$317B
| $1.24B | 1.11% |
4,227,601
+77,116
| +2% | +$20.3M |
|
12
NextEra Energy
NEE
$177B
| $1.13B | 1.01% |
16,326,960
+202,792
| +1% | +$14M |
|
13
Alphabet (Google) Class A
GOOGL
$4.37T
| $1.1B | 0.98% |
14,956,500
+307,100
| +2% | +$23.4M |
|
14
Adobe
ADBE
$109B
| $1.04B | 0.92% |
2,119,658
+266,490
| +14% | +$124M |
|
15
McDonald's
MCD
$194B
| $996M | 0.89% |
4,539,426
+80,602
| +2% | +$16.5M |
|
|
16
Alphabet (Google) Class C
GOOG
$4.35T
| $928M | 0.83% |
12,622,520
+300,720
| +2% | +$22.9M |
|
17
Walmart Inc
WMT
$897B
| $907M | 0.81% |
19,458,198
+305,403
| +2% | +$13.6M |
|
18
Home Depot
HD
$350B
| $900M | 0.8% |
3,242,272
+69,479
| +2% | +$18.8M |
|
19
Accenture
ACN
$109B
| $856M | 0.76% |
3,789,570
+84,083
| +2% | +$19.3M |
|
20
Merck
MRK
$323B
| $854M | 0.76% |
10,783,967
+169,427
| +2% | +$13.3M |
|
21
AT&T
T
$165B
| $794M | 0.71% |
36,870,458
+656,967
| +2% | +$14.7M |
|
22
NVIDIA
NVDA
$5.27T
| $732M | 0.65% |
54,121,880
+1,261,360
| +2% | +$14.7M |
|
23
Tesla
TSLA
$1.31T
| $725M | 0.65% |
5,073,069
+115,119
| +2% | +$13.6M |
|
24
Pfizer
PFE
$154B
| $695M | 0.62% |
19,967,266
+464,228
| +2% | +$16.3M |
|
25
Mastercard
MA
$493B
| $686M | 0.61% |
2,029,310
+45,976
| +2% | +$14.9M |
|
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California Public Employees Retirement System's Q3 2020 Portfolio in Review
As of Q3 2020, California Public Employees Retirement System held 3,611 positions worth $112B, up 11% from $101B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Trading was light in Q3 2020: portfolio turnover was 4.3%. California Public Employees Retirement System opened 104 new positions and exited 52, leaving the 3,611-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 21% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q3 2020 buy was KE Holdings: 253,194 shares worth $15.5M.
- California Public Employees Retirement System added most to Electronic Arts in Q3 2020, an estimated $217M increase.
- California Public Employees Retirement System's biggest Q3 2020 reduction was Realty Income, cutting an estimated $111M.
- California Public Employees Retirement System fully exited Seagen Inc. Common Stock in Q3 2020, selling an estimated $46.2M.
- California Public Employees Retirement System's ten largest holdings make up 19% of its $112B portfolio in Q3 2020.
- California Public Employees Retirement System opened 104 new positions and closed 52 in Q3 2020.
- California Public Employees Retirement System's portfolio value rose 11% quarter-over-quarter to $112B.
Based on California Public Employees Retirement System's 13F filing for Q3 2020, filed 5 Nov 2020.