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 |
NextEra Energy, Inc.
NEE
|
$906M |
| 2 |
Merck
MRK
|
$266M |
| 3 |
Becton Dickinson
BDX
|
$208M |
| 4 |
Apple
AAPL
|
$188M |
| 5 |
SGEN
Seagen Inc. Common Stock
SGEN
|
$175M |
Top Sells
| 1 |
Aflac
AFL
|
$136M |
| 2 |
VER
VEREIT, Inc.
VER
|
$69M |
| 3 |
ONC
BeOne Medicines Ltd. American Depositary Shares
ONC
|
$68.8M |
| 4 |
UDR
UDR
|
$64.9M |
| 5 |
IMMU
Immunomedics Inc
IMMU
|
$40.1M |
Sector Composition
| 1 | Technology | 22.31% |
| 2 | Healthcare | 14.28% |
| 3 | Financials | 12.51% |
| 4 | Consumer Discretionary | 11.96% |
| 5 | Communication Services | 9.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
26
Eli Lilly
LLY
$657B
| $773M | 0.6% | 4,575,362 +110,280 | +2% | +$18.6M |
|
27
Mastercard
MA
$538B
| $751M | 0.58% | 2,103,712 +74,402 | +4% | +$26.6M |
|
28
Berkshire Hathaway Class B
BRK.B
$1.09T
| $743M | 0.57% | 3,204,442 +111,830 | +4% | +$25.9M |
|
29
NVIDIA
NVDA
$4.24T
| $734M | 0.57% | 1,406,277 +53,230 | +4% | +$27.8M |
|
30
Pfizer
PFE
$141B
| $718M | 0.55% | 19,516,941 +572,666 | +3% | +$21.1M |
|
31
Comcast
CMCSA
$125B
| $705M | 0.54% | 13,457,311 +461,520 | +4% | +$24.2M |
|
32
Cisco
CSCO
$274B
| $692M | 0.53% | 15,453,115 +426,792 | +3% | +$19.1M |
|
33
Oracle
ORCL
$635B
| $683M | 0.53% | 10,550,770 -42,979 | -0.4% | -$2.78M |
|
34
PayPal
PYPL
$67.1B
| $655M | 0.51% | 2,797,923 +107,008 | +4% | +$25.1M |
|
35
Medtronic
MDT
$119B
| $621M | 0.48% | 5,304,656 +148,997 | +3% | +$17.5M |
|
36
American Tower
AMT
$95.5B
| $620M | 0.48% | 2,763,138 +58,469 | +2% | +$13.1M |
|
37
TJX Companies
TJX
$152B
| $612M | 0.47% | 8,958,100 +178,875 | +2% | +$12.2M |
|
38
T-Mobile US
TMUS
$284B
| $605M | 0.47% | 4,484,569 -13,978 | -0.3% | -$1.88M |
|
39
Fidelity National Information Services
FIS
$36.5B
| $597M | 0.46% | 4,219,806 +84,569 | +2% | +$12M |
|
40
Gilead Sciences
GILD
$140B
| $593M | 0.46% | 10,171,765 -309,862 | -3% | -$18.1M |
|
41
Danaher
DHR
$147B
| $592M | 0.46% | 2,667,179 +63,757 | +2% | +$14.2M |
|
|
ATVI
42
DELISTED
Activision Blizzard Inc.
ATVI
| $578M | 0.45% | 6,221,392 +1,833,567 | +42% | +$170M |
|
43
Intel
INTC
$107B
| $567M | 0.44% | 11,381,115 +127,221 | +1% | +$6.34M |
|
44
Texas Instruments
TXN
$184B
| $567M | 0.44% | 3,453,508 +88,987 | +3% | +$14.6M |
|
45
Chubb
CB
$110B
| $561M | 0.43% | 3,643,066 -115,738 | -3% | -$17.8M |
|
46
Bank of America
BAC
$376B
| $561M | 0.43% | 18,498,021 +688,252 | +4% | +$20.9M |
|
47
Crown Castle
CCI
$43.2B
| $549M | 0.42% | 3,446,506 -23,272 | -0.7% | -$3.7M |
|
48
Duke Energy
DUK
$95.3B
| $544M | 0.42% | 5,940,623 -187,615 | -3% | -$17.2M |
|
49
Southern Company
SO
$102B
| $523M | 0.4% | 8,520,057 -236,581 | -3% | -$14.5M |
|
50
CME Group
CME
$96B
| $510M | 0.39% | 2,803,130 +55,804 | +2% | +$10.2M |
|