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 |
Walt Disney
DIS
|
+$135M |
| 2 |
Coca-Cola
KO
|
+$126M |
| 3 |
PepsiCo
PEP
|
+$122M |
| 4 |
Procter & Gamble
PG
|
+$102M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$101M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$292M |
| 2 |
Mastercard
MA
|
+$244M |
| 3 |
Apple
AAPL
|
+$197M |
| 4 |
RTN
Raytheon Company
RTN
|
+$143M |
| 5 |
Northrop Grumman
NOC
|
+$133M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.56% |
| 2 | Financials | 15.24% |
| 3 | Healthcare | 13.8% |
| 4 | Consumer Discretionary | 10% |
| 5 | Industrials | 8.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
Martin Marietta Materials
MLM
$33B
| $20.5M | 0.03% |
102,035
-2,418
| -2% | -$451K |
|
527
KKR & Co
KKR
$93.2B
| $20.4M | 0.03% |
870,598
+89,836
| +12% | +$2.05M |
|
528
Raymond James Financial
RJF
$34.5B
| $20.4M | 0.03% |
381,287
-30,358
| -7% | -$1.63M |
|
529
Lennox International
LII
$14.6B
| $20.4M | 0.03% |
76,990
+4,554
| +6% | +$1.09M |
|
530
Invesco
IVZ
$14B
| $20.4M | 0.03% |
1,054,003
-101,136
| -9% | -$1.89M |
|
|
CTRA
531
DELISTED
Coterra Energy
CTRA
| $20.3M | 0.03% |
777,950
+155,448
| +25% | +$3.9M |
|
532
Macy's
M
$6.55B
| $20.1M | 0.02% |
837,423
-55,604
| -6% | -$1.4M |
|
533
Diamondback Energy
FANG
$55.7B
| $20.1M | 0.02% |
197,838
-44,914
| -19% | -$4.6M |
|
534
AES
AES
$10.5B
| $20M | 0.02% |
1,106,960
-274,449
| -20% | -$4.61M |
|
|
IPG
535
DELISTED
Interpublic Group of Companies
IPG
| $19.9M | 0.02% |
945,177
+106,152
| +13% | +$2.36M |
|
536
Capri Holdings
CPRI
$1.75B
| $19.8M | 0.02% |
432,325
-29,495
| -6% | -$1.29M |
|
537
Lumen
LUMN
$6.85B
| $19.8M | 0.02% |
1,648,402
-479,593
| -23% | -$6.66M |
|
|
SIVB
538
DELISTED
SVB Financial Group
SIVB
| $19.7M | 0.02% |
88,623
-5,768
| -6% | -$1.34M |
|
|
QVCGA
539
DELISTED
QVC Group Inc Series A
QVCGA
| $19.7M | 0.02% |
25,353
+4,223
| +20% | +$4.07M |
|
540
Cboe Global Markets
CBOE
$29.8B
| $19.6M | 0.02% |
205,256
+13,276
| +7% | +$1.26M |
|
541
Xerox
XRX
$427M
| $19.6M | 0.02% |
611,907
-86,606
| -12% | -$2.44M |
|
542
HF Sinclair
DINO
$15.2B
| $19.5M | 0.02% |
396,552
-34,868
| -8% | -$1.86M |
|
543
PTC
PTC
$16.4B
| $19.5M | 0.02% |
211,755
-4,824
| -2% | -$427K |
|
544
Huntington Ingalls Industries
HII
$13B
| $19.5M | 0.02% |
94,204
-102,343
| -52% | -$21M |
|
545
Bread Financial
BFH
$4.38B
| $19.5M | 0.02% |
139,500
-32,923
| -19% | -$4.48M |
|
546
Carlisle Companies
CSL
$15.3B
| $19.5M | 0.02% |
158,855
-7,540
| -5% | -$871K |
|
547
NVR
NVR
$16.8B
| $19.5M | 0.02% |
7,035
-6
| -0.1% | -$15.8K |
|
548
Arrow Electronics
ARW
$10.3B
| $19.4M | 0.02% |
252,190
-17,048
| -6% | -$1.31M |
|
549
Alaska Air
ALK
$5.27B
| $19.4M | 0.02% |
346,264
-18,659
| -5% | -$1.14M |
|
550
Atlassian
TEAM
$38.5B
| $19.4M | 0.02% |
172,792
-3,311
| -2% | -$338K |
|
Similar funds
California Public Employees Retirement System's Q1 2019 Portfolio in Review
As of Q1 2019, California Public Employees Retirement System held 3,308 positions worth $81.2B, up 14% from $71.3B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 4.6%. California Public Employees Retirement System opened 56 new positions and exited 97, leaving the 3,308-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 16% a quarter earlier, followed by Financials and Healthcare.
- California Public Employees Retirement System's largest Q1 2019 buy was Fox Class B: 1,093,604 shares worth $39.2M.
- California Public Employees Retirement System added most to Walt Disney in Q1 2019, an estimated $135M increase.
- California Public Employees Retirement System's biggest Q1 2019 reduction was Athene Holding Ltd. Class A Common Shares, cutting an estimated $292M.
- California Public Employees Retirement System fully exited Twenty-First Century Fox, Inc. Class A in Q1 2019, selling an estimated $84.9M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $81.2B portfolio in Q1 2019.
- California Public Employees Retirement System opened 56 new positions and closed 97 in Q1 2019.
- California Public Employees Retirement System's portfolio value rose 14% quarter-over-quarter to $81.2B.
Based on California Public Employees Retirement System's 13F filing for Q1 2019, filed 3 May 2019.