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 |
Coca-Cola
KO
|
+$200M |
| 2 |
PepsiCo
PEP
|
+$180M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$157M |
| 4 |
Linde
LIN
|
+$156M |
| 5 |
Procter & Gamble
PG
|
+$152M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$235M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$180M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$142M |
| 4 |
PX
Praxair Inc
PX
|
+$92.8M |
| 5 |
COL
Rockwell Collins
COL
|
+$81.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.4% |
| 2 | Technology | 16.18% |
| 3 | Healthcare | 14.24% |
| 4 | Consumer Discretionary | 9.85% |
| 5 | Industrials | 9.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Agilent Technologies
A
$41.2B
| $42M | 0.06% |
622,292
-38,635
| -6% | -$2.6M |
|
352
PUT
BCE
BCE
$21.2B
| $41.6M | 0.06% |
1,054,447
+78,820
| +8% | +$3.23M |
|
353
Las Vegas Sands
LVS
$29.6B
| $41.6M | 0.06% |
798,790
+19,360
| +2% | +$1.05M |
|
354
Regency Centers
REG
$14.1B
| $41.5M | 0.06% |
707,632
+230,511
| +48% | +$14.4M |
|
355
Monster Beverage
MNST
$88.5B
| $41.5M | 0.06% |
1,686,708
+64,958
| +4% | +$1.76M |
|
356
W.R. Berkley
WRB
$26.6B
| $41.5M | 0.06% |
1,893,237
+514,941
| +37% | +$11.6M |
|
357
Stanley Black & Decker
SWK
$15.7B
| $41.4M | 0.06% |
346,044
-4,048
| -1% | -$505K |
|
|
FITB
358
Fifth Third Bancorp
FITB
$51.8B
| $41.3M | 0.06% |
1,755,968
-121,425
| -6% | -$3.2M |
|
|
GRMN
359
Garmin
GRMN
$60B
| $41.2M | 0.06% |
650,845
+126,936
| +24% | +$8.22M |
|
360
Oneok
OKE
$54.5B
| $40.6M | 0.06% |
752,303
-17,085
| -2% | -$1.06M |
|
361
Camden Property Trust
CPT
$11.3B
| $40.5M | 0.06% |
460,222
+121,365
| +36% | +$11.1M |
|
362
W.W. Grainger
GWW
$60.2B
| $40.5M | 0.06% |
143,411
-15,728
| -10% | -$4.68M |
|
363
Best Buy
BBY
$17.3B
| $40.4M | 0.06% |
762,583
-21,224
| -3% | -$1.39M |
|
364
International Paper
IP
$22B
| $39.7M | 0.06% |
1,038,166
-17,744
| -2% | -$745K |
|
|
VIAB
365
DELISTED
Viacom Inc. Class B
VIAB
| $39.6M | 0.06% |
1,541,417
+172,764
| +13% | +$5.32M |
|
|
EA
366
DELISTED
Electronic Arts
EA
| $39.2M | 0.06% |
497,009
-41,318
| -8% | -$3.79M |
|
367
Nucor
NUE
$62.1B
| $38.6M | 0.05% |
745,906
-40,458
| -5% | -$2.39M |
|
368
American Financial Group
AFG
$12.1B
| $38.6M | 0.05% |
426,218
+99,944
| +31% | +$10M |
|
369
Weyerhaeuser
WY
$18.4B
| $38.3M | 0.05% |
1,749,880
+5,421
| +0.3% | +$144K |
|
370
Huntington Ingalls Industries
HII
$12.8B
| $37.4M | 0.05% |
196,547
+27,669
| +16% | +$6.02M |
|
|
PXD
371
DELISTED
Pioneer Natural Resource Co.
PXD
| $37.4M | 0.05% |
284,121
-33,315
| -10% | -$5.09M |
|
372
Liberty Broadband Class C
LBRDK
$5.15B
| $37.3M | 0.05% |
517,921
+155,114
| +43% | +$12.4M |
|
373
Gen Digital
GEN
$17.5B
| $37.1M | 0.05% |
1,964,227
-163,084
| -8% | -$3.37M |
|
374
NNN REIT
NNN
$8.99B
| $37M | 0.05% |
763,445
+196,476
| +35% | +$9.37M |
|
375
NetApp
NTAP
$37.2B
| $37M | 0.05% |
619,935
-24,206
| -4% | -$1.74M |
|
Similar funds
California Public Employees Retirement System's Q4 2018 Portfolio in Review
As of Q4 2018, California Public Employees Retirement System held 3,341 positions worth $71.3B, down 8% from $77.6B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
California Public Employees Retirement System deployed $4.76B of net new capital in Q4 2018, opening 51 new positions and adding to 888 existing holdings. Its largest new stake was Linde: 990,142 shares worth $155M.
By sector, the portfolio is most concentrated in Financials at 16% of assets, down from 17% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Alphabet (Google) Class A, an estimated $180M trimmed.
- California Public Employees Retirement System's largest Q4 2018 buy was Linde: 990,142 shares worth $155M.
- California Public Employees Retirement System added most to Coca-Cola in Q4 2018, an estimated $200M increase.
- California Public Employees Retirement System's biggest Q4 2018 reduction was Alphabet (Google) Class A, cutting an estimated $180M.
- California Public Employees Retirement System fully exited Aetna Inc in Q4 2018, selling an estimated $235M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $71.3B portfolio in Q4 2018.
- California Public Employees Retirement System opened 51 new positions and closed 89 in Q4 2018.
- California Public Employees Retirement System's portfolio value fell 8% quarter-over-quarter to $71.3B.
Based on California Public Employees Retirement System's 13F filing for Q4 2018, filed 8 Feb 2019.