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 |
Vanguard S&P 500 ETF
VOO
|
+$3.58B |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$3.08B |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$485M |
| 4 |
Cisco
CSCO
|
+$363M |
| 5 |
O'Reilly Automotive
ORLY
|
+$164M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Coca-Cola
KO
|
+$233M |
| 2 |
Medtronic
MDT
|
+$215M |
| 3 |
Apple
AAPL
|
+$195M |
| 4 |
American Tower
AMT
|
+$174M |
| 5 |
L3Harris
LHX
|
+$163M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.92% |
| 2 | Healthcare | 13.69% |
| 3 | Financials | 11.26% |
| 4 | Consumer Discretionary | 10.21% |
| 5 | Communication Services | 9.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
601
Lennox International
LII
$14.9B
| $24.2M | 0.02% |
74,477
-2,208
| -3% | -$690K |
|
602
Darling Ingredients
DAR
$9.87B
| $24M | 0.02% |
346,657
-18,205
| -5% | -$1.32M |
|
603
Annaly Capital Management
NLY
$17.4B
| $24M | 0.02% |
767,399
-21,284
| -3% | -$715K |
|
604
Coca-Cola Europacific Partners
CCEP
$46.9B
| $24M | 0.02% |
429,061
-20,936
| -5% | -$1.13M |
|
605
Gaming and Leisure Properties
GLPI
$12.5B
| $23.8M | 0.02% |
489,955
-17,501
| -3% | -$832K |
|
606
East-West Bancorp
EWBC
$18.2B
| $23.8M | 0.02% |
301,878
-14,590
| -5% | -$1.17M |
|
607
Novavax
NVAX
$1.3B
| $23.7M | 0.02% |
165,393
+112
| +0.1% | +$19.2K |
|
608
Synaptics
SYNA
$4.15B
| $23.6M | 0.02% |
81,435
+3,163
| +4% | +$756K |
|
609
Lamar Advertising Co
LAMR
$15.7B
| $23.6M | 0.02% |
194,222
-4,507
| -2% | -$525K |
|
610
BorgWarner
BWA
$14.1B
| $23.5M | 0.02% |
593,257
-19,884
| -3% | -$798K |
|
611
Western Alliance Bancorporation
WAL
$8.93B
| $23.5M | 0.02% |
218,410
-10,303
| -5% | -$1.16M |
|
612
Everest Group
EG
$14.1B
| $23.4M | 0.02% |
85,285
-214,133
| -72% | -$57.9M |
|
613
Aecom
ACM
$8.6B
| $23.3M | 0.02% |
301,339
-24,844
| -8% | -$1.74M |
|
614
Vistra
VST
$48.7B
| $23.3M | 0.02% |
1,023,625
-87,005
| -8% | -$1.74M |
|
615
Middleby
MIDD
$5.46B
| $23.3M | 0.02% |
118,395
-5,201
| -4% | -$949K |
|
|
CONE
616
DELISTED
CyrusOne Inc Common Stock
CONE
| $23.3M | 0.02% |
259,421
-19,405
| -7% | -$1.65M |
|
617
Federal Realty Investment Trust
FRT
$10.1B
| $23.3M | 0.02% |
170,687
-5,757
| -3% | -$730K |
|
618
SiteOne Landscape Supply
SITE
$4.33B
| $23.3M | 0.02% |
96,003
-2,715
| -3% | -$628K |
|
619
Reliance Steel & Aluminium
RS
$21.8B
| $23.2M | 0.02% |
142,732
-4,531
| -3% | -$700K |
|
620
NRG Energy
NRG
$25.3B
| $23.1M | 0.02% |
536,603
-36,473
| -6% | -$1.43M |
|
621
Toro Company
TTC
$9.47B
| $23M | 0.02% |
230,179
-12,315
| -5% | -$1.23M |
|
622
Lattice Semiconductor
LSCC
$17.9B
| $22.7M | 0.02% |
294,447
-8,330
| -3% | -$618K |
|
623
Tencent Music
TME
$14.3B
| $22.7M | 0.02% |
3,308,511
-30,876
| -0.9% | -$228K |
|
|
AZPN
624
DELISTED
ASPEN TECHNOLOGY INC
AZPN
| $22.7M | 0.02% |
148,866
-4,200
| -3% | -$639K |
|
625
Watsco Inc
WSO
$13.2B
| $22.7M | 0.02% |
72,403
-1,584
| -2% | -$469K |
|
Similar funds
California Public Employees Retirement System's Q4 2021 Portfolio in Review
As of Q4 2021, California Public Employees Retirement System held 1,249 positions worth $149B, up 12% from $134B the previous quarter. Its ten largest holdings account for 22% of the portfolio.
Trading was light in Q4 2021: portfolio turnover was 1.8%. California Public Employees Retirement System opened 10 new positions and exited 12, leaving the 1,249-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 24% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q4 2021 buy was Vanguard S&P 500 ETF: 8,480,000 shares worth $3.7B.
- California Public Employees Retirement System added most to Berkshire Hathaway Class B in Q4 2021, an estimated $485M increase.
- California Public Employees Retirement System's biggest Q4 2021 reduction was Coca-Cola, cutting an estimated $233M.
- California Public Employees Retirement System fully exited NetEase in Q4 2021, selling an estimated $95.5M.
- California Public Employees Retirement System's ten largest holdings make up 22% of its $149B portfolio in Q4 2021.
- California Public Employees Retirement System opened 10 new positions and closed 12 in Q4 2021.
- California Public Employees Retirement System's portfolio value rose 12% quarter-over-quarter to $149B.
Based on California Public Employees Retirement System's 13F filing for Q4 2021, filed 10 Feb 2022.