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 |
Costco
COST
|
+$286M |
| 2 |
NVIDIA
NVDA
|
+$276M |
| 3 |
Applied Materials
AMAT
|
+$236M |
| 4 |
NXP Semiconductors
NXPI
|
+$198M |
| 5 |
Microchip Technology
MCHP
|
+$189M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$1.02B |
| 2 |
KLA
KLAC
|
+$193M |
| 3 |
Texas Instruments
TXN
|
+$181M |
| 4 |
Walmart Inc
WMT
|
+$180M |
| 5 |
PepsiCo
PEP
|
+$168M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.39% |
| 2 | Financials | 12.58% |
| 3 | Healthcare | 12.37% |
| 4 | Consumer Discretionary | 8.65% |
| 5 | Communication Services | 8.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Apple
AAPL
$4.5T
| $9.09B | 6.36% |
39,009,001
+328,701
| +0.8% | +$73.4M |
|
2
Microsoft
MSFT
$3.76T
| $8.47B | 5.93% |
19,688,288
+209,409
| +1% | +$89.5M |
|
|
3
NVIDIA
NVDA
$5.27T
| $7.93B | 5.55% |
65,339,258
+2,340,031
| +4% | +$276M |
|
4
Amazon
AMZN
$3T
| $3.2B | 2.24% |
17,174,949
-606,890
| -3% | -$111M |
|
5
Meta Platforms (Facebook)
META
$1.52T
| $2.97B | 2.07% |
5,180,579
+88,522
| +2% | +$45.5M |
|
6
Berkshire Hathaway Class B
BRK.B
$1.13T
| $2.26B | 1.58% |
4,917,958
+33,914
| +0.7% | +$15M |
|
7
Alphabet (Google) Class A
GOOGL
$4.37T
| $2.26B | 1.58% |
13,637,319
+543,751
| +4% | +$91.2M |
|
8
Broadcom
AVGO
$2.01T
| $2.17B | 1.52% |
12,557,338
+388,978
| +3% | +$62.4M |
|
|
9
Alphabet (Google) Class C
GOOG
$4.35T
| $1.95B | 1.37% |
11,680,637
+336,118
| +3% | +$56.9M |
|
10
Eli Lilly
LLY
$1.1T
| $1.72B | 1.2% |
1,936,087
-113,529
| -6% | -$102M |
|
11
UnitedHealth
UNH
$371B
| $1.55B | 1.08% |
2,644,468
-29,747
| -1% | -$16.8M |
|
12
Procter & Gamble
PG
$340B
| $1.47B | 1.03% |
8,505,949
-317,362
| -4% | -$53.9M |
|
|
13
Costco
COST
$423B
| $1.43B | 1% |
1,608,015
+329,107
| +26% | +$286M |
|
14
Johnson & Johnson
JNJ
$631B
| $1.43B | 1% |
8,793,492
-253,553
| -3% | -$40.4M |
|
15
JPMorgan Chase
JPM
$956B
| $1.36B | 0.95% |
6,470,897
+89,547
| +1% | +$18.9M |
|
|
16
PepsiCo
PEP
$188B
| $1.32B | 0.93% |
7,785,838
-975,857
| -11% | -$168M |
|
|
17
Tesla
TSLA
$1.31T
| $1.27B | 0.89% |
4,852,023
-4,466,116
| -48% | -$1.02B |
|
|
18
Walmart Inc
WMT
$897B
| $1.21B | 0.85% |
14,968,332
-2,449,944
| -14% | -$180M |
|
19
IBM
IBM
$223B
| $1.13B | 0.79% |
5,107,916
-144,740
| -3% | -$28.4M |
|
20
AbbVie
ABBV
$438B
| $1.09B | 0.77% |
5,543,290
-705,589
| -11% | -$132M |
|
21
Merck
MRK
$323B
| $1.06B | 0.74% |
9,294,053
-302,865
| -3% | -$36M |
|
22
ExxonMobil
XOM
$657B
| $1.04B | 0.73% |
8,868,091
+192,403
| +2% | +$22.2M |
|
23
Home Depot
HD
$350B
| $996M | 0.7% |
2,458,052
-298,881
| -11% | -$109M |
|
24
Visa
V
$675B
| $994M | 0.7% |
3,613,729
-71,452
| -2% | -$19.3M |
|
25
McDonald's
MCD
$194B
| $965M | 0.67% |
3,167,778
-360,766
| -10% | -$99.4M |
|
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California Public Employees Retirement System's Q3 2024 Portfolio in Review
As of Q3 2024, California Public Employees Retirement System held 1,188 positions worth $143B, up 4.8% from $136B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
California Public Employees Retirement System's Q3 2024 filing shows 21 new, 469 increased, 653 reduced and 42 closed positions. Its largest new stake was Ferguson: 367,333 shares worth $72.9M. The largest sale was Tesla, an estimated $1.02B.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Healthcare.
- California Public Employees Retirement System's largest Q3 2024 buy was Ferguson: 367,333 shares worth $72.9M.
- California Public Employees Retirement System added most to Costco in Q3 2024, an estimated $286M increase.
- California Public Employees Retirement System's biggest Q3 2024 reduction was Tesla, cutting an estimated $1.02B.
- California Public Employees Retirement System fully exited WestRock Company in Q3 2024, selling an estimated $24.8M.
- California Public Employees Retirement System's ten largest holdings make up 29% of its $143B portfolio in Q3 2024.
- California Public Employees Retirement System opened 21 new positions and closed 42 in Q3 2024.
- California Public Employees Retirement System's portfolio value rose 4.8% quarter-over-quarter to $143B.
Based on California Public Employees Retirement System's 13F filing for Q3 2024, filed 13 Nov 2024.