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 |
Verizon
VZ
|
$165M |
| 2 |
Oracle
ORCL
|
$139M |
| 3 |
CME Group
CME
|
$99.7M |
| 4 |
Gilead Sciences
GILD
|
$94.9M |
| 5 |
Alphabet (Google) Class C
GOOG
|
$94.2M |
Top Sells
| 1 |
SPDR S&P 500 ETF Trust
SPY
|
$334M |
| 2 |
RTX Corp
RTX
|
$289M |
| 3 |
iShares MSCI EAFE ETF
EFA
|
$201M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
$192M |
| 5 |
Humana
HUM
|
$149M |
Sector Composition
| 1 | Technology | 19.65% |
| 2 | Financials | 13.7% |
| 3 | Healthcare | 13.67% |
| 4 | Consumer Discretionary | 9.89% |
| 5 | Consumer Staples | 9.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
26
Berkshire Hathaway Class B
BRK.B
$1.09T
| $551M | 0.67% |
3,014,387
-145,440
| -5% | -$26.6M |
|
27
Eli Lilly
LLY
$657B
| $547M | 0.66% |
3,944,341
-176,557
| -4% | -$24.5M |
|
28
UnitedHealth
UNH
$281B
| $535M | 0.65% |
2,144,521
-582,001
| -21% | -$145M |
|
|
29
Oracle
ORCL
$635B
| $487M | 0.59% |
10,076,245
+2,868,396
| +40% | +$139M |
|
30
Crown Castle
CCI
$43.2B
| $486M | 0.59% |
3,369,023
-53,885
| -2% | -$7.78M |
|
31
Mastercard
MA
$538B
| $484M | 0.59% |
2,005,700
-153,498
| -7% | -$37.1M |
|
32
Fidelity National Information Services
FIS
$36.5B
| $467M | 0.57% |
3,842,864
+459,854
| +14% | +$55.9M |
|
33
Duke Energy
DUK
$95.3B
| $460M | 0.56% |
5,691,815
-85,451
| -1% | -$6.91M |
|
34
Medtronic
MDT
$119B
| $445M | 0.54% |
4,932,448
-159,749
| -3% | -$14.4M |
|
|
35
CME Group
CME
$96B
| $444M | 0.54% |
2,568,944
+576,402
| +29% | +$99.7M |
|
36
Southern Company
SO
$102B
| $441M | 0.53% |
8,142,683
-119,513
| -1% | -$6.47M |
|
37
Comcast
CMCSA
$125B
| $430M | 0.52% |
12,502,386
-917,584
| -7% | -$31.5M |
|
38
Bristol-Myers Squibb
BMY
$96B
| $421M | 0.51% |
7,556,696
-270,380
| -3% | -$15.1M |
|
39
Chubb
CB
$110B
| $413M | 0.5% |
3,697,320
-73,699
| -2% | -$8.23M |
|
40
Lockheed Martin
LMT
$106B
| $400M | 0.48% |
1,179,366
-30,366
| -3% | -$10.3M |
|
41
TJX Companies
TJX
$152B
| $392M | 0.47% |
8,204,861
-155,908
| -2% | -$7.45M |
|
42
Bank of America
BAC
$376B
| $391M | 0.47% |
18,402,992
-1,538,827
| -8% | -$32.7M |
|
43
Walt Disney
DIS
$213B
| $380M | 0.46% |
3,933,827
-1,314,011
| -25% | -$127M |
|
44
Dominion Energy
D
$51.1B
| $372M | 0.45% |
5,149,234
-82,407
| -2% | -$5.95M |
|
45
Exxon Mobil
XOM
$487B
| $364M | 0.44% |
9,584,625
-476,362
| -5% | -$18.1M |
|
46
Marsh & McLennan
MMC
$101B
| $354M | 0.43% |
4,092,285
-68,115
| -2% | -$5.89M |
|
47
Fiserv
FI
$75.1B
| $349M | 0.42% |
3,669,194
-68,493
| -2% | -$6.51M |
|
48
NVIDIA
NVDA
$4.24T
| $347M | 0.42% |
1,314,627
+22,594
| +2% | +$5.96M |
|
49
Adobe
ADBE
$151B
| $346M | 0.42% |
1,087,534
-93,705
| -8% | -$29.8M |
|
50
Danaher
DHR
$147B
| $338M | 0.41% |
2,442,279
-95,994
| -4% | -$13.3M |
|