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 |
NVIDIA
NVDA
|
+$837M |
| 2 |
UnitedHealth
UNH
|
+$435M |
| 3 |
Intel
INTC
|
+$331M |
| 4 |
Amazon
AMZN
|
+$325M |
| 5 |
PepsiCo
PEP
|
+$244M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATVI
Activision Blizzard
ATVI
|
+$415M |
| 2 |
Microsoft
MSFT
|
+$261M |
| 3 |
VMW
VMware, Inc
VMW
|
+$221M |
| 4 |
Verizon
VZ
|
+$132M |
| 5 |
JPMorgan Chase
JPM
|
+$130M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.07% |
| 2 | Healthcare | 14.1% |
| 3 | Financials | 11.93% |
| 4 | Consumer Discretionary | 9.96% |
| 5 | Industrials | 7.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
676
Interactive Brokers
IBKR
$40.7B
| $16.8M | 0.01% |
809,040
-23,096
| -3% | -$473K |
|
677
WillScot Mobile Mini Holdings
WSC
$4.15B
| $16.7M | 0.01% |
374,896
-9,296
| -2% | -$376K |
|
678
Silgan Holdings
SLGN
$4.35B
| $16.6M | 0.01% |
367,118
+14,575
| +4% | +$614K |
|
679
Jones Lang LaSalle
JLL
$16.7B
| $16.6M | 0.01% |
87,629
-2,399
| -3% | -$363K |
|
680
Spire
SR
$4.87B
| $16.4M | 0.01% |
263,839
-1,365
| -0.5% | -$81.5K |
|
681
Penumbra
PEN
$12.9B
| $16.4M | 0.01% |
65,008
-4,323
| -6% | -$956K |
|
682
Fox Class A
FOXA
$26.1B
| $16.3M | 0.01% |
550,412
-43,127
| -7% | -$1.3M |
|
683
Universal Display
OLED
$4.32B
| $16.3M | 0.01% |
85,309
+1,139
| +1% | +$188K |
|
684
Lear
LEA
$8.12B
| $16.2M | 0.01% |
115,023
-3,782
| -3% | -$507K |
|
685
Affirm
AFRM
$25.7B
| $16.2M | 0.01% |
330,486
+5,173
| +2% | +$150K |
|
|
SKX
686
DELISTED
Skechers
SKX
| $16.2M | 0.01% |
260,269
-4,470
| -2% | -$241K |
|
687
Applovin
APP
$107B
| $16.2M | 0.01% |
406,300
+17,604
| +5% | +$690K |
|
688
XP
XP
$8.01B
| $16.1M | 0.01% |
616,703
+118,415
| +24% | +$2.7M |
|
689
Essential Utilities
WTRG
$11.4B
| $16M | 0.01% |
429,706
-8,877
| -2% | -$310K |
|
|
KRTX
690
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
| $16M | 0.01% |
50,696
| – | – |
|
691
American Airlines Group
AAL
$10.1B
| $16M | 0.01% |
1,166,398
-79,513
| -6% | -$998K |
|
|
PINC
692
DELISTED
Premier
PINC
| $16M | 0.01% |
715,841
| – | – |
|
693
UiPath
PATH
$8.14B
| $15.9M | 0.01% |
641,825
+78,459
| +14% | +$1.53M |
|
|
SGI
694
Somnigroup International
SGI
$13.7B
| $15.9M | 0.01% |
312,783
-9,722
| -3% | -$412K |
|
695
Federal Realty Investment Trust
FRT
$10.1B
| $15.9M | 0.01% |
154,035
-5,448
| -3% | -$514K |
|
696
Tapestry
TPR
$32.4B
| $15.8M | 0.01% |
428,441
-30,302
| -7% | -$933K |
|
697
Vail Resorts
MTN
$5.26B
| $15.7M | 0.01% |
73,774
-1,524
| -2% | -$334K |
|
698
Webster Financial
WBS
$12.8B
| $15.7M | 0.01% |
310,180
-27,066
| -8% | -$1.17M |
|
699
Eagle Materials
EXP
$6.57B
| $15.7M | 0.01% |
77,268
-3,352
| -4% | -$589K |
|
700
Franklin Resources
BEN
$16.9B
| $15.6M | 0.01% |
525,319
-26,573
| -5% | -$661K |
|
Similar funds
California Public Employees Retirement System's Q4 2023 Portfolio in Review
As of Q4 2023, California Public Employees Retirement System held 1,197 positions worth $132B, up 13% from $116B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Trading was light in Q4 2023: portfolio turnover was 1.4%. California Public Employees Retirement System opened 7 new positions and exited 10, leaving the 1,197-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 28% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q4 2023 buy was Veralto: 389,662 shares worth $32.1M.
- California Public Employees Retirement System added most to NVIDIA in Q4 2023, an estimated $837M increase.
- California Public Employees Retirement System's biggest Q4 2023 reduction was Microsoft, cutting an estimated $261M.
- California Public Employees Retirement System fully exited Activision Blizzard in Q4 2023, selling an estimated $415M.
- California Public Employees Retirement System's ten largest holdings make up 25% of its $132B portfolio in Q4 2023.
- California Public Employees Retirement System opened 7 new positions and closed 10 in Q4 2023.
- California Public Employees Retirement System's portfolio value rose 13% quarter-over-quarter to $132B.
Based on California Public Employees Retirement System's 13F filing for Q4 2023, filed 1 Feb 2024.