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 | 17.54% |
| 2 | Financials | 15.01% |
| 3 | Healthcare | 12.82% |
| 4 | Consumer Discretionary | 9.95% |
| 5 | Consumer Staples | 8.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Liberty Broadband Class C
LBRDK
$5.15B
| $109M | 0.1% |
868,678
+21,369
| +3% | +$2.49M |
|
|
WBA
227
DELISTED
Walgreens Boots Alliance
WBA
| $109M | 0.1% |
1,850,858
-100,170
| -5% | -$5.77M |
|
228
NVR
NVR
$17B
| $109M | 0.1% |
28,551
+20,555
| +257% | +$76.1M |
|
229
General Motors
GM
$76.8B
| $109M | 0.1% |
2,967,896
+36,837
| +1% | +$1.34M |
|
230
Alliant Energy
LNT
$18B
| $108M | 0.1% |
1,980,889
+83,531
| +4% | +$4.44M |
|
231
Hormel Foods
HRL
$13.8B
| $108M | 0.1% |
2,400,551
-61,910
| -3% | -$2.67M |
|
232
General Dynamics
GD
$106B
| $107M | 0.1% |
605,574
+19,091
| +3% | +$3.43M |
|
233
Estee Lauder
EL
$32B
| $106M | 0.1% |
515,271
-61,265
| -11% | -$11.9M |
|
|
ATVI
234
DELISTED
Activision Blizzard
ATVI
| $105M | 0.1% |
1,771,976
+357,598
| +25% | +$19.8M |
|
235
Lam Research
LRCX
$390B
| $104M | 0.09% |
3,555,160
-261,760
| -7% | -$6.95M |
|
236
Autodesk
ADSK
$52.6B
| $103M | 0.09% |
563,304
+91,878
| +19% | +$14.9M |
|
237
Analog Devices
ADI
$190B
| $103M | 0.09% |
868,626
+66,509
| +8% | +$7.5M |
|
238
Fidelity National Financial
FNF
$13.5B
| $103M | 0.09% |
2,356,161
+2,871
| +0.1% | +$127K |
|
|
DRE
239
DELISTED
Duke Realty Corp.
DRE
| $102M | 0.09% |
2,949,675
+42,392
| +1% | +$1.46M |
|
|
BNY
240
Bank of New York Mellon
BNY
$107B
| $102M | 0.09% |
2,029,511
-7,055
| -0.3% | -$337K |
|
241
Lamb Weston
LW
$7.19B
| $102M | 0.09% |
1,186,963
+28,740
| +2% | +$2.31M |
|
242
Nasdaq
NDAQ
$52.9B
| $102M | 0.09% |
2,858,022
+39,081
| +1% | +$1.33M |
|
243
Equity Lifestyle Properties
ELS
$12.6B
| $101M | 0.09% |
1,439,015
+700,951
| +95% | +$48.7M |
|
244
Dollar Tree
DLTR
$25.2B
| $101M | 0.09% |
1,069,070
-29,536
| -3% | -$3.1M |
|
245
Marriott International
MAR
$92.3B
| $99.4M | 0.09% |
656,265
-16,790
| -2% | -$2.25M |
|
|
GRMN
246
Garmin
GRMN
$60B
| $98.7M | 0.09% |
1,011,422
+6,403
| +0.6% | +$597K |
|
247
Verisk Analytics
VRSK
$25B
| $98.3M | 0.09% |
658,380
-14,291
| -2% | -$2.12M |
|
248
Enterprise Products Partners
EPD
$81.7B
| $98.3M | 0.09% |
3,491,505
+44,418
| +1% | +$1.2M |
|
249
MetLife
MET
$62.1B
| $98M | 0.09% |
1,923,190
-70,153
| -4% | -$3.39M |
|
250
Kinder Morgan
KMI
$68.7B
| $97.7M | 0.09% |
4,615,246
-133,008
| -3% | -$2.69M |
|
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.