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 |
Texas Instruments
TXN
|
+$132M |
| 2 |
IBM
IBM
|
+$72.7M |
| 3 |
McKesson
MCK
|
+$59.1M |
| 4 |
Home Depot
HD
|
+$55.1M |
| 5 |
Tesla
TSLA
|
+$53.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.03B |
| 2 |
Microsoft
MSFT
|
+$354M |
| 3 |
Amazon
AMZN
|
+$331M |
| 4 |
NVIDIA
NVDA
|
+$236M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$179M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.29% |
| 2 | Healthcare | 15.7% |
| 3 | Financials | 12.15% |
| 4 | Consumer Discretionary | 9.54% |
| 5 | Consumer Staples | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Alexandria Real Estate Equities
ARE
$8.39B
| $94.5M | 0.08% |
752,455
-38,117
| -5% | -$5.6M |
|
227
Cboe Global Markets
CBOE
$29.6B
| $93.7M | 0.08% |
697,744
-29,114
| -4% | -$3.65M |
|
228
Norfolk Southern
NSC
$75.1B
| $93.6M | 0.08% |
441,299
-80,962
| -16% | -$18.7M |
|
|
GRMN
229
Garmin
GRMN
$59.9B
| $93.3M | 0.08% |
924,717
-38,978
| -4% | -$3.81M |
|
230
Chipotle Mexican Grill
CMG
$40.1B
| $92.1M | 0.08% |
2,695,000
-419,200
| -13% | -$13.2M |
|
231
Evergy
EVRG
$18.9B
| $90M | 0.08% |
1,472,812
-48,737
| -3% | -$2.96M |
|
232
Truist Financial
TFC
$63.7B
| $89.4M | 0.08% |
2,622,711
-389,652
| -13% | -$17M |
|
233
Autodesk
ADSK
$53.4B
| $89.3M | 0.08% |
429,128
-65,990
| -13% | -$13.6M |
|
234
W.W. Grainger
GWW
$61.6B
| $89.1M | 0.08% |
129,385
-10,072
| -7% | -$6.42M |
|
235
Microchip Technology
MCHP
$44.6B
| $89M | 0.08% |
1,062,016
-147,592
| -12% | -$11.8M |
|
236
Arista Networks
ANET
$247B
| $88M | 0.08% |
2,097,768
-569,636
| -21% | -$19.6M |
|
237
Airbnb
ABNB
$111B
| $87.7M | 0.08% |
704,976
-122,340
| -15% | -$14M |
|
238
Parker-Hannifin
PH
$135B
| $87.5M | 0.08% |
260,320
-31,893
| -11% | -$10.6M |
|
239
Archer Daniels Midland
ADM
$38.5B
| $87.3M | 0.08% |
1,095,468
-199,697
| -15% | -$16.3M |
|
240
Brown & Brown
BRO
$23.9B
| $86.7M | 0.08% |
1,510,259
-101,014
| -6% | -$5.81M |
|
241
MSCI
MSCI
$40.9B
| $86.6M | 0.08% |
154,670
-20,285
| -12% | -$10.7M |
|
242
Corteva
CTVA
$51B
| $86.2M | 0.08% |
1,428,907
-239,417
| -14% | -$14.6M |
|
243
Biogen
BIIB
$30.5B
| $86.1M | 0.08% |
309,617
-62,275
| -17% | -$17.2M |
|
244
Marriott International
MAR
$91.3B
| $86.1M | 0.08% |
518,305
-83,705
| -14% | -$13.9M |
|
245
Alliant Energy
LNT
$17.6B
| $85.6M | 0.08% |
1,603,151
-99,718
| -6% | -$5.3M |
|
246
Agilent Technologies
A
$42.4B
| $85.3M | 0.08% |
616,354
-92,147
| -13% | -$13.5M |
|
247
Cintas
CTAS
$82.5B
| $85.2M | 0.08% |
736,512
-82,564
| -10% | -$9.1M |
|
248
Incyte
INCY
$24.5B
| $85M | 0.08% |
1,176,806
-58,195
| -5% | -$4.55M |
|
249
Workday
WDAY
$45.2B
| $84.9M | 0.08% |
410,930
-93,052
| -18% | -$16.9M |
|
250
Check Point Software Technologies
CHKP
$13.1B
| $84.6M | 0.08% |
650,402
-35,506
| -5% | -$4.52M |
|
Similar funds
California Public Employees Retirement System's Q1 2023 Portfolio in Review
As of Q1 2023, California Public Employees Retirement System held 1,248 positions worth $113B, down 3.9% from $117B the previous quarter. Its ten largest holdings account for 21% of the portfolio.
California Public Employees Retirement System withdrew a net $10.8B in Q1 2023, closing 33 positions and reducing 1,057 holdings. Its most notable exit was State Street Technology Select Sector SPDR ETF, an estimated $143M position sold in full.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 23% a quarter earlier, followed by Healthcare and Financials.
Against the trend, California Public Employees Retirement System opened a new position in GE HealthCare worth $56.6M.
- California Public Employees Retirement System's largest Q1 2023 buy was GE HealthCare: 690,105 shares worth $56.6M.
- California Public Employees Retirement System added most to Texas Instruments in Q1 2023, an estimated $132M increase.
- California Public Employees Retirement System's biggest Q1 2023 reduction was Apple, cutting an estimated $1.03B.
- California Public Employees Retirement System fully exited State Street Technology Select Sector SPDR ETF in Q1 2023, selling an estimated $143M.
- California Public Employees Retirement System's ten largest holdings make up 21% of its $113B portfolio in Q1 2023.
- California Public Employees Retirement System opened 31 new positions and closed 33 in Q1 2023.
- California Public Employees Retirement System's portfolio value fell 3.9% quarter-over-quarter to $113B.
Based on California Public Employees Retirement System's 13F filing for Q1 2023, filed 12 May 2023.