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 | |
|---|---|---|---|---|---|---|
|
AVID
2551
DELISTED
Avid Technology Inc
AVID
| $709K | ﹤0.01% |
82,656
-8,600
| -9% | -$63.3K |
|
|
LCI
2552
DELISTED
Lannett Company, Inc.
LCI
| $708K | ﹤0.01% |
20,075
-725
| -3% | -$29.5K |
|
|
JCP
2553
DELISTED
J.C. Penney Company, Inc.
JCP
| $708K | ﹤0.01% |
632,310
+53,900
| +9% | +$57.3K |
|
2554
Metallus
MTUS
$900M
| $707K | ﹤0.01% |
89,931
+10,231
| +13% | +$64.1K |
|
|
EXPR
2555
DELISTED
Express, Inc.
EXPR
| $706K | ﹤0.01% |
7,253
+303
| +4% | +$23.8K |
|
2556
Lifecore Biomedical
LFCR
$183M
| $705K | ﹤0.01% |
62,300
-5,100
| -8% | -$54.3K |
|
2557
Aquestive Therapeutics
AQST
$553M
| $704K | ﹤0.01% |
120,900
| – | – |
|
|
DPLO
2558
DELISTED
DIPLOMAT PHARMACY, INC.
DPLO
| $704K | ﹤0.01% |
175,929
+141,391
| +409% | +$664K |
|
2559
Neurogene
NGNE
$714M
| $700K | ﹤0.01% |
2,840
| – | – |
|
|
BFIN
2560
DELISTED
BankFinancial
BFIN
| $698K | ﹤0.01% |
53,373
-10,600
| -17% | -$138K |
|
2561
Park Aerospace
PKE
$815M
| $695K | ﹤0.01% |
42,738
+200
| +0.5% | +$3.31K |
|
|
SMMF
2562
DELISTED
Summit Financial Group, Inc.
SMMF
| $695K | ﹤0.01% |
25,663
+100
| +0.4% | +$2.64K |
|
|
QTNT
2563
DELISTED
Quotient Limited Ordinary Shares
QTNT
| $694K | ﹤0.01% |
1,823
+1,347
| +283% | +$447K |
|
2564
Commercial Vehicle Group
CVGI
$135M
| $691K | ﹤0.01% |
108,821
-18,900
| -15% | -$134K |
|
2565
OrthoPediatrics
KIDS
$633M
| $691K | ﹤0.01% |
+14,700
| New | +$569K |
|
|
GSKY
2566
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
| $691K | ﹤0.01% |
77,670
+42,700
| +122% | +$321K |
|
2567
Clearfield
CLFD
$400M
| $690K | ﹤0.01% |
49,500
-12,900
| -21% | -$167K |
|
|
DESP
2568
DELISTED
Despegar.com
DESP
| $690K | ﹤0.01% |
51,200
+37,400
| +271% | +$442K |
|
2569
Donnelley Financial Solutions
DFIN
$1.16B
| $690K | ﹤0.01% |
65,946
+3,200
| +5% | +$33.5K |
|
2570
Motorcar Parts of America
MPAA
$236M
| $690K | ﹤0.01% |
31,300
+4,300
| +16% | +$83.1K |
|
2571
Carter Bankshares
CARE
$709M
| $688K | ﹤0.01% |
28,990
+18,000
| +164% | +$372K |
|
2572
Daktronics
DAKT
$1.02B
| $686K | ﹤0.01% |
112,719
-14,200
| -11% | -$94.9K |
|
|
JAX
2573
DELISTED
J. Alexander's Holdings, Inc.
JAX
| $686K | ﹤0.01% |
71,773
-22,400
| -24% | -$226K |
|
2574
Afya
AFYA
$1.24B
| $683K | ﹤0.01% |
+25,178
| New | +$679K |
|
2575
LifeVantage
LFVN
$84M
| $683K | ﹤0.01% |
43,742
-7,300
| -14% | -$107K |
|
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.