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 |
Microsoft
MSFT
|
+$142M |
| 2 |
TE Connectivity
TEL
|
+$141M |
| 3 |
Texas Instruments
TXN
|
+$93.8M |
| 4 |
Oracle
ORCL
|
+$89.9M |
| 5 |
Apple
AAPL
|
+$89.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Accenture
ACN
|
+$332M |
| 2 |
Amazon
AMZN
|
+$318M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$300M |
| 4 |
Danaher
DHR
|
+$150M |
| 5 |
Charter Communications
CHTR
|
+$147M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28% |
| 2 | Healthcare | 14.95% |
| 3 | Financials | 11.83% |
| 4 | Consumer Discretionary | 9.76% |
| 5 | Consumer Staples | 8.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$4.5T
| $7.15B | 6.14% |
36,882,919
+514,565
| +1% | +$89.7M |
|
|
2
Microsoft
MSFT
$3.76T
| $6.67B | 5.72% |
19,578,419
+452,207
| +2% | +$142M |
|
|
3
Amazon
AMZN
$3T
| $2.2B | 1.89% |
16,870,075
-2,785,286
| -14% | -$318M |
|
4
NVIDIA
NVDA
$5.27T
| $1.83B | 1.57% |
43,287,470
-1,585,190
| -4% | -$52.6M |
|
5
Berkshire Hathaway Class B
BRK.B
$1.14T
| $1.81B | 1.55% |
5,305,115
+109,413
| +2% | +$35.7M |
|
6
Tesla
TSLA
$1.31T
| $1.76B | 1.51% |
6,738,863
+17,997
| +0.3% | +$3.6M |
|
7
Johnson & Johnson
JNJ
$631B
| $1.71B | 1.46% |
10,305,935
-315,967
| -3% | -$51M |
|
8
PepsiCo
PEP
$188B
| $1.62B | 1.39% |
8,726,868
-601,062
| -6% | -$112M |
|
|
9
Alphabet (Google) Class A
GOOGL
$4.37T
| $1.48B | 1.27% |
12,367,448
-682,107
| -5% | -$78.5M |
|
10
Eli Lilly
LLY
$1.1T
| $1.44B | 1.23% |
3,066,263
-61,510
| -2% | -$25.8M |
|
11
Merck
MRK
$323B
| $1.41B | 1.21% |
12,210,103
-322,299
| -3% | -$36.6M |
|
12
Meta Platforms (Facebook)
META
$1.52T
| $1.29B | 1.1% |
4,484,057
+160,474
| +4% | +$39.6M |
|
|
13
Alphabet (Google) Class C
GOOG
$4.35T
| $1.28B | 1.1% |
10,585,760
-2,590,903
| -20% | -$300M |
|
14
Procter & Gamble
PG
$340B
| $1.22B | 1.05% |
8,041,464
-144,132
| -2% | -$21.7M |
|
15
McDonald's
MCD
$194B
| $1.22B | 1.04% |
4,077,964
+150,524
| +4% | +$43.7M |
|
16
Walmart Inc
WMT
$897B
| $1.04B | 0.89% |
19,762,023
-224,016
| -1% | -$11.3M |
|
17
JPMorgan Chase
JPM
$956B
| $1.03B | 0.89% |
7,115,266
-779,795
| -10% | -$107M |
|
18
UnitedHealth
UNH
$371B
| $1.01B | 0.87% |
2,105,979
-90,001
| -4% | -$44M |
|
19
Visa
V
$675B
| $966M | 0.83% |
4,066,579
-198,532
| -5% | -$45.4M |
|
20
Home Depot
HD
$350B
| $954M | 0.82% |
3,071,759
-108,260
| -3% | -$32M |
|
|
21
Oracle
ORCL
$435B
| $952M | 0.82% |
7,993,203
+869,702
| +12% | +$89.9M |
|
22
Verizon
VZ
$195B
| $920M | 0.79% |
24,744,539
-354,126
| -1% | -$13.1M |
|
23
Broadcom
AVGO
$2.01T
| $897M | 0.77% |
10,341,470
+94,860
| +0.9% | +$6.77M |
|
24
Costco
COST
$423B
| $890M | 0.76% |
1,652,970
-99,452
| -6% | -$50.3M |
|
25
ExxonMobil
XOM
$662B
| $852M | 0.73% |
7,944,598
-472,390
| -6% | -$51.5M |
|
Similar funds
California Public Employees Retirement System's Q2 2023 Portfolio in Review
As of Q2 2023, California Public Employees Retirement System held 1,218 positions worth $116B, up 3.4% from $113B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Trading was light in Q2 2023: portfolio turnover was 0.9%. California Public Employees Retirement System opened 3 new positions and exited 8, leaving the 1,218-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 25% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q2 2023 buy was Crane Co: 96,845 shares worth $8.63M.
- California Public Employees Retirement System added most to Microsoft in Q2 2023, an estimated $142M increase.
- California Public Employees Retirement System's biggest Q2 2023 reduction was Accenture, cutting an estimated $332M.
- California Public Employees Retirement System fully exited Dell in Q2 2023, selling an estimated $25.3M.
- California Public Employees Retirement System's ten largest holdings make up 24% of its $116B portfolio in Q2 2023.
- California Public Employees Retirement System opened 3 new positions and closed 8 in Q2 2023.
- California Public Employees Retirement System's portfolio value rose 3.4% quarter-over-quarter to $116B.
Based on California Public Employees Retirement System's 13F filing for Q2 2023, filed 9 Aug 2023.