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
|
+$9.25B |
| 2 |
NextEra Energy
NEE
|
+$196M |
| 3 |
Apple
AAPL
|
+$188M |
| 4 |
Texas Instruments
TXN
|
+$109M |
| 5 |
Costco
COST
|
+$98.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$777M |
| 2 |
Microsoft
MSFT
|
+$194M |
| 3 |
Applied Materials
AMAT
|
+$182M |
| 4 |
Amazon
AMZN
|
+$175M |
| 5 |
Meta Platforms (Facebook)
META
|
+$143M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.36% |
| 2 | Financials | 12.42% |
| 3 | Healthcare | 10.1% |
| 4 | Consumer Discretionary | 8.72% |
| 5 | Communication Services | 7.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
701
Morningstar
MORN
$7.4B
| $15.1M | 0.01% |
44,829
-3,236
| -7% | -$1.1M |
|
702
Wingstop
WING
$3.07B
| $15M | 0.01% |
52,919
-3,007
| -5% | -$1.02M |
|
703
Wintrust Financial
WTFC
$10.9B
| $15M | 0.01% |
120,350
-4,921
| -4% | -$608K |
|
704
Globus Medical
GMED
$11.5B
| $15M | 0.01% |
181,444
-4,835
| -3% | -$381K |
|
705
Generac Holdings
GNRC
$12.6B
| $15M | 0.01% |
96,691
-3,460
| -3% | -$598K |
|
|
PR
706
Permian Resources
PR
$18B
| $14.9M | 0.01% |
1,037,356
-65,265
| -6% | -$946K |
|
707
Zillow
Z
$7.68B
| $14.9M | 0.01% |
201,428
+18,798
| +10% | +$1.34M |
|
708
Churchill Downs
CHDN
$6.18B
| $14.8M | 0.01% |
110,638
-5,635
| -5% | -$781K |
|
709
Paylocity
PCTY
$7.7B
| $14.7M | 0.01% |
73,819
-3,930
| -5% | -$752K |
|
710
Medpace
MEDP
$16.9B
| $14.7M | 0.01% |
44,217
-2,948
| -6% | -$1,000K |
|
711
Annaly Capital Management
NLY
$17.4B
| $14.7M | 0.01% |
802,027
-28,590
| -3% | -$559K |
|
712
Eagle Materials
EXP
$6.5B
| $14.7M | 0.01% |
59,472
-5,577
| -9% | -$1.61M |
|
713
Saia
SAIA
$9.54B
| $14.7M | 0.01% |
32,179
-2,747
| -8% | -$1.36M |
|
714
Roku
ROKU
$22.4B
| $14.6M | 0.01% |
197,030
-12,591
| -6% | -$954K |
|
715
Vornado Realty Trust
VNO
$7.33B
| $14.6M | 0.01% |
347,024
-15,306
| -4% | -$647K |
|
716
Range Resources
RRC
$9.48B
| $14.5M | 0.01% |
404,306
-16,172
| -4% | -$535K |
|
717
MasTec
MTZ
$21.8B
| $14.5M | 0.01% |
106,779
-3,450
| -3% | -$463K |
|
718
Pinnacle Financial Partners Inc
PNFP
$16.1B
| $14.5M | 0.01% |
127,079
-8,308
| -6% | -$937K |
|
719
AES
AES
$10.5B
| $14.5M | 0.01% |
1,126,111
-78,194
| -6% | -$1.17M |
|
720
Brixmor Property Group
BRX
$9.1B
| $14.3M | 0.01% |
515,252
-65,549
| -11% | -$1.86M |
|
|
WCC
721
WESCO International
WCC
$18B
| $14.3M | 0.01% |
79,255
-8,336
| -10% | -$1.58M |
|
722
CAVA Group
CAVA
$7.08B
| $14.3M | 0.01% |
126,540
+19,078
| +18% | +$2.54M |
|
723
Alaska Air
ALK
$5.44B
| $14.2M | 0.01% |
220,070
-12,649
| -5% | -$665K |
|
724
Aaon
AAON
$7.06B
| $14.2M | 0.01% |
121,029
+3,166
| +3% | +$388K |
|
725
Carpenter Technology
CRS
$26.9B
| $14.2M | 0.01% |
83,899
+4,495
| +6% | +$771K |
|
Similar funds
California Public Employees Retirement System's Q4 2024 Portfolio in Review
As of Q4 2024, California Public Employees Retirement System held 1,148 positions worth $150B, up 4.6% from $143B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
California Public Employees Retirement System deployed $5.06B of net new capital in Q4 2024, opening 2 new positions and adding to 208 existing holdings. Its largest new stake was Vanguard S&P 500 ETF: 17,080,007 shares worth $9.2B.
By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 33% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was NVIDIA, an estimated $777M trimmed.
- California Public Employees Retirement System's largest Q4 2024 buy was Vanguard S&P 500 ETF: 17,080,007 shares worth $9.2B.
- California Public Employees Retirement System added most to NextEra Energy in Q4 2024, an estimated $196M increase.
- California Public Employees Retirement System's biggest Q4 2024 reduction was NVIDIA, cutting an estimated $777M.
- California Public Employees Retirement System fully exited Marathon Oil Corporation in Q4 2024, selling an estimated $35M.
- California Public Employees Retirement System's ten largest holdings make up 34% of its $150B portfolio in Q4 2024.
- California Public Employees Retirement System opened 2 new positions and closed 6 in Q4 2024.
- California Public Employees Retirement System's portfolio value rose 4.6% quarter-over-quarter to $150B.
Based on California Public Employees Retirement System's 13F filing for Q4 2024, filed 12 Feb 2025.