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
|
+$94.3M |
| 2 |
PepsiCo
PEP
|
+$74.5M |
| 3 |
Accenture
ACN
|
+$67.4M |
| 4 |
Lockheed Martin
LMT
|
+$62M |
| 5 |
Simon Property Group
SPG
|
+$53.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$145M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$94.2M |
| 3 |
Apple
AAPL
|
+$92.6M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$91.9M |
| 5 |
Meta Platforms (Facebook)
META
|
+$72.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.47% |
| 2 | Financials | 17.02% |
| 3 | Healthcare | 13.67% |
| 4 | Consumer Discretionary | 10.35% |
| 5 | Industrials | 10.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
PepsiCo
PEP
$190B
| $524M | 0.68% |
4,684,685
+657,683
| +16% | +$74.5M |
|
27
Citigroup
C
$226B
| $453M | 0.58% |
6,310,644
-630,667
| -9% | -$44.6M |
|
|
ATH
28
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $426M | 0.55% |
8,562,943
+43,330
| +0.5% | +$2.09M |
|
29
Boeing
BA
$185B
| $422M | 0.54% |
1,133,571
-131,748
| -10% | -$46.3M |
|
30
McDonald's
MCD
$195B
| $398M | 0.51% |
2,379,970
+109,724
| +5% | +$17.6M |
|
31
Walmart Inc
WMT
$890B
| $394M | 0.51% |
12,584,883
+661,119
| +6% | +$20.2M |
|
32
Oracle
ORCL
$423B
| $392M | 0.51% |
7,601,688
-77,433
| -1% | -$3.76M |
|
|
33
Accenture
ACN
$108B
| $387M | 0.5% |
2,275,415
+405,027
| +22% | +$67.4M |
|
34
Walt Disney
DIS
$181B
| $386M | 0.5% |
3,299,895
-67,361
| -2% | -$7.5M |
|
35
Comcast
CMCSA
$90B
| $386M | 0.5% |
10,890,045
-84,026
| -0.8% | -$2.97M |
|
36
IBM
IBM
$224B
| $356M | 0.46% |
2,461,398
-1,600
| -0.1% | -$224K |
|
37
Amgen
AMGN
$222B
| $344M | 0.44% |
1,660,997
-134,398
| -7% | -$26.5M |
|
38
Alibaba
BABA
$308B
| $336M | 0.43% |
2,041,773
-23,661
| -1% | -$4.19M |
|
39
Medtronic
MDT
$112B
| $335M | 0.43% |
3,406,695
+88,478
| +3% | +$8.18M |
|
|
40
Berkshire Hathaway Class A
BRK.A
$1.12T
| $327M | 0.42% |
1,022
-88
| -8% | -$27.3M |
|
41
NVIDIA
NVDA
$5.42T
| $326M | 0.42% |
46,442,560
-966,840
| -2% | -$6.29M |
|
|
42
Lockheed Martin
LMT
$136B
| $319M | 0.41% |
920,845
+192,283
| +26% | +$62M |
|
43
Honeywell
HON
$78B
| $318M | 0.41% |
2,117,810
+41,765
| +2% | +$5.92M |
|
44
RTX Corp
RTX
$301B
| $315M | 0.41% |
3,584,069
+198,307
| +6% | +$16.7M |
|
45
AbbVie
ABBV
$435B
| $304M | 0.39% |
3,219,146
-437,782
| -12% | -$41.5M |
|
46
NextEra Energy
NEE
$177B
| $283M | 0.36% |
6,752,500
+1,158,632
| +21% | +$49.3M |
|
47
Netflix
NFLX
$309B
| $278M | 0.36% |
7,436,060
-200,180
| -3% | -$7.27M |
|
48
Union Pacific
UNP
$174B
| $278M | 0.36% |
1,707,206
-206,944
| -11% | -$31.2M |
|
49
TJX Companies
TJX
$178B
| $277M | 0.36% |
4,947,540
+793,594
| +19% | +$40.8M |
|
50
Texas Instruments
TXN
$261B
| $273M | 0.35% |
2,546,053
+24,181
| +1% | +$2.69M |
|
Similar funds
California Public Employees Retirement System's Q3 2018 Portfolio in Review
As of Q3 2018, California Public Employees Retirement System held 3,359 positions worth $77.6B, up 7.3% from $72.3B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Trading was light in Q3 2018: portfolio turnover was 4.1%. California Public Employees Retirement System opened 70 new positions and exited 69, leaving the 3,359-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- California Public Employees Retirement System's largest Q3 2018 buy was Veoneer, Inc.: 151,840 shares worth $8.36M.
- California Public Employees Retirement System added most to Coca-Cola in Q3 2018, an estimated $94.3M increase.
- California Public Employees Retirement System's biggest Q3 2018 reduction was JPMorgan Chase, cutting an estimated $145M.
- California Public Employees Retirement System fully exited XL Group Ltd. in Q3 2018, selling an estimated $35.7M.
- California Public Employees Retirement System's ten largest holdings make up 15% of its $77.6B portfolio in Q3 2018.
- California Public Employees Retirement System opened 70 new positions and closed 69 in Q3 2018.
- California Public Employees Retirement System's portfolio value rose 7.3% quarter-over-quarter to $77.6B.
Based on California Public Employees Retirement System's 13F filing for Q3 2018, filed 13 Nov 2018.