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 | |
|---|---|---|---|---|---|---|
451
Arista Networks
ANET
$242B
| $31M | 0.03% |
2,076,016
+625,904
| +43% | +$9.69M |
|
452
Lincoln National
LNC
$8.76B
| $30.9M | 0.03% |
511,474
+114,033
| +29% | +$6.82M |
|
453
Xylem
XYL
$28.4B
| $30.7M | 0.03% |
385,727
+96,871
| +34% | +$7.61M |
|
454
Incyte
INCY
$24.7B
| $30.4M | 0.03% |
410,182
+113,087
| +38% | +$9.14M |
|
|
KSU
455
DELISTED
Kansas City Southern
KSU
| $30.4M | 0.03% |
228,563
+44,237
| +24% | +$5.51M |
|
456
U-Haul Holding Co
UHAL
$14.6B
| $30.2M | 0.03% |
774,360
+102,180
| +15% | +$3.77M |
|
457
Liberty Global Class C
LBTYK
$3.42B
| $30.1M | 0.03% |
1,267,264
+214,161
| +20% | +$5.58M |
|
458
Ingredion
INGR
$6.55B
| $30M | 0.03% |
367,316
+40,320
| +12% | +$3.2M |
|
459
Take-Two Interactive
TTWO
$47.3B
| $30M | 0.03% |
239,372
+111,535
| +87% | +$13.9M |
|
460
Align Technology
ALGN
$12.4B
| $30M | 0.03% |
165,753
+37,135
| +29% | +$7.72M |
|
461
KKR & Co
KKR
$91.7B
| $29.9M | 0.03% |
1,114,940
+226,637
| +26% | +$5.98M |
|
|
CXO
462
DELISTED
CONCHO RESOURCES INC.
CXO
| $29.8M | 0.03% |
438,558
+169,364
| +63% | +$13.8M |
|
463
NVR
NVR
$16.7B
| $29.7M | 0.03% |
7,996
+1,550
| +24% | +$5.46M |
|
464
MarketAxess Holdings
MKTX
$5.72B
| $29.6M | 0.03% |
90,262
+21,755
| +32% | +$7.79M |
|
465
Twilio
TWLO
$37.8B
| $29.4M | 0.03% |
267,106
+79,999
| +43% | +$10.4M |
|
466
Hasbro
HAS
$13.2B
| $29.3M | 0.03% |
247,274
-609,997
| -71% | -$69.5M |
|
467
Gartner
IT
$11.9B
| $29.2M | 0.03% |
204,208
+42,786
| +27% | +$6.22M |
|
|
AMTD
468
DELISTED
TD Ameritrade Holding Corp
AMTD
| $29M | 0.03% |
621,799
+142,100
| +30% | +$6.81M |
|
469
Diamondback Energy
FANG
$54.5B
| $28.9M | 0.03% |
321,836
+108,707
| +51% | +$10.8M |
|
470
Teradyne
TER
$57.9B
| $28.8M | 0.03% |
497,012
+107,716
| +28% | +$5.7M |
|
471
Steris
STE
$23B
| $28.8M | 0.03% |
198,997
+46,967
| +31% | +$7.02M |
|
472
Lumen
LUMN
$6.67B
| $28.7M | 0.03% |
2,296,061
+634,951
| +38% | +$7.54M |
|
473
Textron
TXT
$15.3B
| $28.6M | 0.03% |
584,490
+105,771
| +22% | +$5.16M |
|
|
GAP
474
The Gap Inc
GAP
$7.59B
| $28.6M | 0.03% |
1,647,301
-98,681
| -6% | -$1.75M |
|
475
CF Industries
CF
$17.9B
| $28.4M | 0.03% |
578,229
+86,783
| +18% | +$4.21M |
|
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.