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 | |
|---|---|---|---|---|---|---|
401
SBA Communications
SBAC
$19.5B
| $31.9M | 0.04% |
197,331
-20,362
| -9% | -$3.31M |
|
402
TransDigm Group
TDG
$67.7B
| $31.9M | 0.04% |
93,856
-9,210
| -9% | -$3.16M |
|
403
H&R Block
HRB
$5.86B
| $31.9M | 0.04% |
1,256,548
+329,647
| +36% | +$8.8M |
|
404
Host Hotels & Resorts
HST
$16B
| $31.7M | 0.04% |
1,899,197
-42,961
| -2% | -$805K |
|
405
SL Green Realty
SLG
$3.99B
| $31.6M | 0.04% |
412,619
+70,513
| +21% | +$6.24M |
|
406
Cardinal Health
CAH
$55.4B
| $31.6M | 0.04% |
708,161
-162,387
| -19% | -$8.46M |
|
|
WCG
407
DELISTED
Wellcare Health Plans, Inc.
WCG
| $31.5M | 0.04% |
133,527
-6,563
| -5% | -$1.76M |
|
408
Global Payments
GPN
$22.8B
| $31.4M | 0.04% |
304,873
+6,514
| +2% | +$718K |
|
|
FLIR
409
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $31.4M | 0.04% |
721,886
+163,360
| +29% | +$8.03M |
|
|
LPT
410
DELISTED
Liberty Property Trust
LPT
| $31.2M | 0.04% |
745,943
+228,931
| +44% | +$9.88M |
|
411
Rollins
ROL
$18.2B
| $31.2M | 0.04% |
1,296,600
+314,599
| +32% | +$8.13M |
|
412
Chipotle Mexican Grill
CMG
$41.5B
| $31.2M | 0.04% |
3,610,350
-313,800
| -8% | -$2.84M |
|
413
Celanese
CE
$4.82B
| $30.9M | 0.04% |
343,189
-7,518
| -2% | -$737K |
|
|
PBCT
414
DELISTED
People's United Financial Inc
PBCT
| $30.8M | 0.04% |
2,137,223
+520,941
| +32% | +$8.25M |
|
415
Freeport-McMoran
FCX
$97.5B
| $30.7M | 0.04% |
2,981,292
-105,234
| -3% | -$1.23M |
|
416
MPLX
MPLX
$59.7B
| $30.6M | 0.04% |
1,011,106
-85,488
| -8% | -$2.85M |
|
|
HES
417
DELISTED
Hess
HES
| $30.6M | 0.04% |
756,271
-42,574
| -5% | -$2.43M |
|
418
Advanced Micro Devices
AMD
$789B
| $30.3M | 0.04% |
1,640,498
+94,287
| +6% | +$2.04M |
|
419
Liberty Global Class C
LBTYK
$3.49B
| $30.2M | 0.04% |
1,463,362
-155,421
| -10% | -$3.72M |
|
420
Western Digital
WDC
$150B
| $30.1M | 0.04% |
1,078,924
-23,667
| -2% | -$839K |
|
421
Mettler-Toledo International
MTD
$28.6B
| $30.1M | 0.04% |
53,160
-4,125
| -7% | -$2.4M |
|
422
KLA
KLAC
$259B
| $29.8M | 0.04% |
3,334,230
-182,730
| -5% | -$1.7M |
|
|
CMA
423
DELISTED
Comerica
CMA
| $29.6M | 0.04% |
431,352
-47,215
| -10% | -$3.75M |
|
424
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
| $29.6M | 0.04% |
365,327
+141,869
| +63% | +$11.9M |
|
425
ResMed
RMD
$30.7B
| $29.6M | 0.04% |
259,961
-18,212
| -7% | -$1.95M |
|
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.