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 |
Walt Disney
DIS
|
$134M |
| 2 |
PepsiCo
PEP
|
$132M |
| 3 |
Coca-Cola
KO
|
$126M |
| 4 |
Procter & Gamble
PG
|
$109M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
$106M |
Top Sells
| 1 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
$315M |
| 2 |
Mastercard
MA
|
$267M |
| 3 |
Apple
AAPL
|
$221M |
| 4 |
RTN
Raytheon Company
RTN
|
$149M |
| 5 |
Northrop Grumman
NOC
|
$131M |
Sector Composition
| 1 | Technology | 16.59% |
| 2 | Financials | 15.25% |
| 3 | Healthcare | 13.81% |
| 4 | Consumer Discretionary | 10.01% |
| 5 | Industrials | 8.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
26
Walmart
WMT
$774B
| $515M | 0.63% | 5,276,252 +402,037 | +8% | +$39.2M |
|
27
Bank of America
BAC
$376B
| $514M | 0.63% | 18,638,846 -1,772,868 | -9% | -$48.9M |
|
|
28
Walt Disney
DIS
$213B
| $490M | 0.6% | 4,409,660 +1,209,626 | +38% | +$134M |
|
29
Apollo Global Management
APO
$77.9B
| $456M | 0.56% | 15,531,905 -2,178,134 | -12% | -$63.9M |
|
30
Comcast
CMCSA
$125B
| $454M | 0.56% | 11,360,079 +22,053 | +0.2% | +$882K |
|
31
Wells Fargo
WFC
$263B
| $431M | 0.53% | 8,920,391 -925,029 | -9% | -$44.7M |
|
32
TJX Companies
TJX
$152B
| $425M | 0.52% | 7,989,918 +1,136,138 | +17% | +$60.5M |
|
33
Eli Lilly
LLY
$657B
| $410M | 0.51% | 3,162,898 +238,198 | +8% | +$30.9M |
|
34
Oracle
ORCL
$635B
| $405M | 0.5% | 7,537,979 +124,341 | +2% | +$6.68M |
|
|
35
Mastercard
MA
$538B
| $405M | 0.5% | 1,718,834 -1,133,475 | -40% | -$267M |
|
36
Medtronic
MDT
$119B
| $405M | 0.5% | 4,441,964 +413,760 | +10% | +$37.7M |
|
37
Boeing
BA
$177B
| $398M | 0.49% | 1,044,302 +3,514 | +0.3% | +$1.34M |
|
38
Duke Energy
DUK
$95.3B
| $396M | 0.49% | 4,394,565 +724,378 | +20% | +$65.2M |
|
39
Chubb
CB
$110B
| $378M | 0.47% | 2,697,234 +412,064 | +18% | +$57.7M |
|
|
40
Alphabet (Google) Class C
GOOG
$2.58T
| $353M | 0.44% | 300,849 -62,138 | -17% | -$72.9M |
|
41
IBM
IBM
$227B
| $350M | 0.43% | 2,481,060 -61,330 | -2% | -$8.65M |
|
42
Honeywell
HON
$139B
| $347M | 0.43% | 2,180,692 +104,044 | +5% | +$16.5M |
|
43
Citigroup
C
$178B
| $342M | 0.42% | 5,490,846 -490,099 | -8% | -$30.5M |
|
44
American Tower
AMT
$95.5B
| $341M | 0.42% | 1,730,895 +322,963 | +23% | +$63.6M |
|
45
Southern Company
SO
$102B
| $331M | 0.41% | 6,398,661 +1,095,027 | +21% | +$56.6M |
|
46
Crown Castle
CCI
$43.2B
| $315M | 0.39% | 2,460,798 +388,843 | +19% | +$49.8M |
|
47
Simon Property Group
SPG
$59B
| $306M | 0.38% | 1,679,538 +224,701 | +15% | +$40.9M |
|
48
Texas Instruments
TXN
$184B
| $304M | 0.38% | 2,870,572 +134,604 | +5% | +$14.3M |
|
49
Exelon
EXC
$44.1B
| $302M | 0.37% | 6,034,010 +774,617 | +15% | +$38.8M |
|
50
Marsh & McLennan
MMC
$101B
| $302M | 0.37% | 3,219,326 +549,470 | +21% | +$51.6M |
|