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
|
+$549M |
| 2 |
Apple
AAPL
|
+$498M |
| 3 |
Amazon
AMZN
|
+$407M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$260M |
| 5 |
Meta Platforms (Facebook)
META
|
+$244M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSS
Total System Services, Inc.
TSS
|
+$156M |
| 2 |
LLL
L3 Technologies, Inc.
LLL
|
+$145M |
| 3 |
Becton Dickinson
BDX
|
+$103M |
| 4 |
HCA Healthcare
HCA
|
+$90.9M |
| 5 |
Pfizer
PFE
|
+$88.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.83% |
| 2 | Financials | 15.17% |
| 3 | Healthcare | 12.39% |
| 4 | Consumer Discretionary | 9.79% |
| 5 | Consumer Staples | 9.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DLA
2501
DELISTED
Delta Apparel Inc.
DLA
| $591K | ﹤0.01% |
24,900
+1,400
| +6% | +$31K |
|
2502
NN Inc
NNBR
$307M
| $588K | ﹤0.01% |
82,400
+11,300
| +16% | +$84.8K |
|
2503
Ribbon Communications
RBBN
$361M
| $587K | ﹤0.01% |
100,524
+25,524
| +34% | +$134K |
|
2504
Willdan Group
WLDN
$1.28B
| $587K | ﹤0.01% |
16,737
+1,552
| +10% | +$55.4K |
|
2505
Akebia Therapeutics
AKBA
$243M
| $585K | ﹤0.01% |
149,313
+28,800
| +24% | +$123K |
|
2506
Insteel Industries
IIIN
$636M
| $585K | ﹤0.01% |
28,500
+783
| +3% | +$15.6K |
|
2507
First Business Financial Services
FBIZ
$597M
| $578K | ﹤0.01% |
23,998
+1,300
| +6% | +$30.6K |
|
2508
Century Casinos
CNTY
$34.3M
| $577K | ﹤0.01% |
74,625
+2,454
| +3% | +$21.4K |
|
|
ANH
2509
DELISTED
Anworth Mortgage Asset Corporation
ANH
| $577K | ﹤0.01% |
174,852
+29,871
| +21% | +$107K |
|
|
ARA
2510
DELISTED
American Renal Associates Holdings, Inc
ARA
| $577K | ﹤0.01% |
91,266
+5,946
| +7% | +$44.3K |
|
|
DRRX
2511
DELISTED
DURECT Corp
DRRX
| $576K | ﹤0.01% |
31,330
+3,170
| +11% | +$42.9K |
|
|
FRTA
2512
DELISTED
Forterra, Inc
FRTA
| $575K | ﹤0.01% |
79,536
+7,636
| +11% | +$49.2K |
|
2513
PrimeEnergy Resources
PNRG
$324M
| $572K | ﹤0.01% |
4,971
+391
| +9% | +$46K |
|
|
HMNF
2514
DELISTED
HMN Financial Inc
HMNF
| $572K | ﹤0.01% |
25,340
+1,400
| +6% | +$29.5K |
|
2515
Standard BioTools
LAB
$314M
| $569K | ﹤0.01% |
122,978
+11,667
| +10% | +$91.9K |
|
2516
Lindblad Expeditions
LIND
$2.16B
| $569K | ﹤0.01% |
33,921
+2,839
| +9% | +$51.6K |
|
|
HTB
2517
HomeTrust Bancshares
HTB
$830M
| $568K | ﹤0.01% |
21,801
+1,581
| +8% | +$40.3K |
|
|
AVID
2518
DELISTED
Avid Technology Inc
AVID
| $565K | ﹤0.01% |
91,256
+1,494
| +2% | +$11.7K |
|
|
CTT
2519
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
| $564K | ﹤0.01% |
52,860
+9,499
| +22% | +$96.4K |
|
2520
Xenon Pharmaceuticals
XENE
$6.16B
| $561K | ﹤0.01% |
62,255
+6,150
| +11% | +$58.2K |
|
2521
Argan
AGX
$8.18B
| $557K | ﹤0.01% |
14,171
+2,600
| +22% | +$105K |
|
2522
Southern First Bancshares
SFST
$598M
| $557K | ﹤0.01% |
13,976
+1,800
| +15% | +$69.9K |
|
|
NM
2523
DELISTED
Navios Maritime Holdings Inc.
NM
| $557K | ﹤0.01% |
115,818
+6,300
| +6% | +$33.3K |
|
|
GTT
2524
DELISTED
GTT Communications, Inc.
GTT
| $556K | ﹤0.01% |
59,000
+8,600
| +17% | +$96.7K |
|
|
FFWM
2525
DELISTED
First Foundation Inc
FFWM
| $551K | ﹤0.01% |
36,083
+25,082
| +228% | +$360K |
|
Similar funds
California Public Employees Retirement System's Q3 2019 Portfolio in Review
As of Q3 2019, California Public Employees Retirement System held 3,348 positions worth $101B, up 19% from $84.7B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
California Public Employees Retirement System deployed $14.5B of net new capital in Q3 2019, opening 84 new positions and adding to 2,655 existing holdings. Its largest new stake was Creative Media & Community Trust: 141 shares worth $53.7M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 16% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Becton Dickinson, an estimated $103M trimmed.
- California Public Employees Retirement System's largest Q3 2019 buy was Creative Media & Community Trust: 141 shares worth $53.7M.
- California Public Employees Retirement System added most to Microsoft in Q3 2019, an estimated $549M increase.
- California Public Employees Retirement System's biggest Q3 2019 reduction was Becton Dickinson, cutting an estimated $103M.
- California Public Employees Retirement System fully exited Total System Services, Inc. in Q3 2019, selling an estimated $156M.
- California Public Employees Retirement System's ten largest holdings make up 15% of its $101B portfolio in Q3 2019.
- California Public Employees Retirement System opened 84 new positions and closed 88 in Q3 2019.
- California Public Employees Retirement System's portfolio value rose 19% quarter-over-quarter to $101B.
Based on California Public Employees Retirement System's 13F filing for Q3 2019, filed 31 Oct 2019.