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 |
Apple
AAPL
|
+$1.15B |
| 2 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$524M |
| 3 |
Microsoft
MSFT
|
+$397M |
| 4 |
JPMorgan Chase
JPM
|
+$213M |
| 5 |
Amazon
AMZN
|
+$211M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$275M |
| 2 |
Eli Lilly
LLY
|
+$159M |
| 3 |
NextEra Energy
NEE
|
+$154M |
| 4 |
Accenture
ACN
|
+$115M |
| 5 |
Cisco
CSCO
|
+$110M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.75% |
| 2 | Healthcare | 16.96% |
| 3 | Financials | 12.95% |
| 4 | Consumer Staples | 8.84% |
| 5 | Consumer Discretionary | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
401
Waters Corp
WAT
$40.6B
| $46.5M | 0.04% |
135,845
+1,333
| +1% | +$422K |
|
402
Ingersoll Rand
IR
$33B
| $46.3M | 0.04% |
886,945
-64,670
| -7% | -$3.3M |
|
403
AES
AES
$10.5B
| $46.2M | 0.04% |
1,606,011
+8,910
| +0.6% | +$240K |
|
404
Huntington Bancshares
HBAN
$35.9B
| $45.5M | 0.04% |
3,229,835
-56,984
| -2% | -$825K |
|
405
Delta Air Lines
DAL
$59.6B
| $44.9M | 0.04% |
1,366,817
-69,972
| -5% | -$2.32M |
|
406
Southwest Airlines
LUV
$22.3B
| $44.8M | 0.04% |
1,330,800
+67
| +0% | +$2.42K |
|
407
Xylem
XYL
$28.7B
| $44.1M | 0.04% |
398,912
-4,721
| -1% | -$495K |
|
408
Citizens Financial Group
CFG
$30.8B
| $44.1M | 0.04% |
1,120,167
-7,890
| -0.7% | -$308K |
|
409
Tyson Foods
TSN
$19.9B
| $43.8M | 0.04% |
703,108
+369
| +0.1% | +$24K |
|
410
Trade Desk
TTD
$6.27B
| $43.3M | 0.04% |
966,681
-24,948
| -3% | -$1.26M |
|
411
CenterPoint Energy
CNP
$26.4B
| $43.1M | 0.04% |
1,438,277
+1,606
| +0.1% | +$46.7K |
|
412
Datadog
DDOG
$90.3B
| $43M | 0.04% |
584,866
-11,848
| -2% | -$926K |
|
413
Wabtec
WAB
$49.9B
| $42.7M | 0.04% |
427,553
+12,740
| +3% | +$1.22M |
|
414
Dover
DOV
$28.1B
| $42.5M | 0.04% |
314,135
-17,683
| -5% | -$2.35M |
|
|
MRO
415
DELISTED
Marathon Oil Corporation
MRO
| $42M | 0.04% |
1,551,615
-75,904
| -5% | -$2.2M |
|
416
Northern Trust
NTRS
$34.5B
| $41.6M | 0.04% |
470,232
-312
| -0.1% | -$27.3K |
|
417
Ventas
VTR
$45.3B
| $41.6M | 0.04% |
922,524
+19,259
| +2% | +$812K |
|
418
Teledyne Technologies
TDY
$31.4B
| $41.3M | 0.04% |
103,394
+2,593
| +3% | +$1.01M |
|
419
CF Industries
CF
$17.9B
| $41.1M | 0.04% |
482,758
+13,841
| +3% | +$1.41M |
|
420
Steel Dynamics
STLD
$38B
| $40.9M | 0.03% |
419,012
-3,658
| -0.9% | -$352K |
|
421
First Horizon
FHN
$12B
| $40.8M | 0.03% |
1,663,971
+426,839
| +35% | +$10.3M |
|
422
EPAM Systems
EPAM
$5.15B
| $40.5M | 0.03% |
123,662
+1,204
| +1% | +$409K |
|
423
Mid-America Apartment Communities
MAA
$15.3B
| $40.5M | 0.03% |
257,955
-611
| -0.2% | -$95.2K |
|
424
LPL Financial
LPLA
$29.5B
| $40.4M | 0.03% |
186,676
+3,973
| +2% | +$929K |
|
425
KBR
KBR
$4.78B
| $40.3M | 0.03% |
763,848
+68,835
| +10% | +$3.43M |
|
Similar funds
California Public Employees Retirement System's Q4 2022 Portfolio in Review
As of Q4 2022, California Public Employees Retirement System held 1,231 positions worth $117B, up 7.9% from $109B the previous quarter. Its ten largest holdings account for 20% of the portfolio.
Trading was light in Q4 2022: portfolio turnover was 1.9%. California Public Employees Retirement System opened 9 new positions and exited 14, leaving the 1,231-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 23% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q4 2022 buy was State Street Financial Select Sector SPDR ETF: 15,500,000 shares worth $530M.
- California Public Employees Retirement System added most to Apple in Q4 2022, an estimated $1.15B increase.
- California Public Employees Retirement System's biggest Q4 2022 reduction was Walmart Inc, cutting an estimated $275M.
- California Public Employees Retirement System fully exited Citrix Systems Inc in Q4 2022, selling an estimated $98M.
- California Public Employees Retirement System's ten largest holdings make up 20% of its $117B portfolio in Q4 2022.
- California Public Employees Retirement System opened 9 new positions and closed 14 in Q4 2022.
- California Public Employees Retirement System's portfolio value rose 7.9% quarter-over-quarter to $117B.
Based on California Public Employees Retirement System's 13F filing for Q4 2022, filed 8 Feb 2023.