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
| 1 |
Kinder Morgan
KMI
|
$115M |
| 2 |
Enterprise Products Partners
EPD
|
$52.3M |
| 3 |
Teva Pharmaceuticals
TEVA
|
$41.2M |
| 4 |
Alibaba
BABA
|
$36.6M |
| 5 |
Annaly Capital Management
NLY
|
$27.7M |
Top Sells
| 1 |
Apple
AAPL
|
$207M |
| 2 |
Medtronic
MDT
|
$167M |
| 3 |
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
|
$114M |
| 4 |
SPDR S&P Emerging Markets Small Cap ETF
EWX
|
$77.1M |
| 5 |
Alphabet (Google) Class C
GOOG
|
$72.9M |
Sector Composition
| 1 | Financials | 15.53% |
| 2 | Technology | 14.16% |
| 3 | Healthcare | 13.55% |
| 4 | Industrials | 10.95% |
| 5 | Consumer Discretionary | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
26
Cisco
CSCO
$274B
| $440M | 0.61% | 16,373,486 -798,368 | -5% | -$21.5M |
|
27
Walmart
WMT
$774B
| $434M | 0.6% | 4,955,810 +28,771 | +0.6% | +$2.52M |
|
28
Home Depot
HD
$405B
| $432M | 0.6% | 4,106,585 -380,698 | -8% | -$40M |
|
29
Apollo Global Management
APO
$77.9B
| $427M | 0.59% | 22,602,601 | – | – |
|
30
Meta Platforms (Facebook)
META
$1.86T
| $420M | 0.58% | 5,544,696 -282,495 | -5% | -$21.4M |
|
31
Schlumberger
SLB
$55B
| $385M | 0.53% | 4,555,742 +37,236 | +0.8% | +$3.15M |
|
32
UnitedHealth
UNH
$281B
| $383M | 0.53% | 3,479,241 -48,859 | -1% | -$5.37M |
|
33
CVS Health
CVS
$92.8B
| $367M | 0.51% | 3,644,507 -604,090 | -14% | -$60.9M |
|
34
Visa
V
$683B
| $362M | 0.5% | 1,442,029 -149,796 | -9% | -$37.6M |
|
35
RTX Corp
RTX
$212B
| $355M | 0.49% | 2,980,832 +121,364 | +4% | +$14.5M |
|
36
Amgen
AMGN
$155B
| $353M | 0.49% | 2,219,888 -17,510 | -0.8% | -$2.78M |
|
37
Union Pacific
UNP
$133B
| $348M | 0.48% | 2,875,675 +50,573 | +2% | +$6.11M |
|
38
Qualcomm
QCOM
$173B
| $334M | 0.46% | 4,648,598 -852,637 | -15% | -$61.2M |
|
39
Honeywell
HON
$139B
| $325M | 0.45% | 3,223,308 +205,796 | +7% | +$20.8M |
|
40
Berkshire Hathaway Class A
BRK.A
$1.09T
| $317M | 0.44% | 1,429 -26 | -2% | -$5.76M |
|
41
3M
MMM
$82.8B
| $314M | 0.43% | 1,917,393 -33,595 | -2% | -$5.5M |
|
42
Bristol-Myers Squibb
BMY
$96B
| $310M | 0.43% | 5,008,481 -162,740 | -3% | -$10.1M |
|
43
Amazon
AMZN
$2.44T
| $291M | 0.4% | 949,281 -95,016 | -9% | -$29.1M |
|
|
CELG
44
DELISTED
Celgene Corp
CELG
| $283M | 0.39% | 2,315,518 -316,985 | -12% | -$38.8M |
|
45
Occidental Petroleum
OXY
$46.9B
| $274M | 0.38% | 3,455,904 +252,226 | +8% | +$20M |
|
46
Biogen
BIIB
$19.4B
| $265M | 0.37% | 741,610 -79,782 | -10% | -$28.6M |
|
47
AbbVie
ABBV
$372B
| $264M | 0.36% | 4,181,070 -383,216 | -8% | -$24.2M |
|
48
HP
HPQ
$26.7B
| $263M | 0.36% | 7,045,070 -483,183 | -6% | -$18.1M |
|
49
Goldman Sachs
GS
$226B
| $257M | 0.35% | 1,455,114 -113,454 | -7% | -$20M |
|
50
Lowe's Companies
LOW
$145B
| $254M | 0.35% | 3,640,852 -118,626 | -3% | -$8.29M |
|