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 |
Kraft Heinz
KHC
|
+$110M |
| 2 |
NETSCOUT
NTCT
|
+$109M |
| 3 |
PayPal
PYPL
|
+$101M |
| 4 |
Alibaba
BABA
|
+$61.5M |
| 5 |
AT&T
T
|
+$55.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$798M |
| 2 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$134M |
| 3 |
KRFT
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
|
+$129M |
| 4 |
eBay
EBAY
|
+$115M |
| 5 |
Apple
AAPL
|
+$59.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.45% |
| 2 | Technology | 14.25% |
| 3 | Healthcare | 14.19% |
| 4 | Industrials | 10.86% |
| 5 | Consumer Discretionary | 9.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Union Pacific
UNP
$174B
| $211M | 0.36% |
2,386,430
-146,700
| -6% | -$13.4M |
|
52
RTX Corp
RTX
$301B
| $204M | 0.35% |
3,645,196
-203,551
| -5% | -$12.5M |
|
53
US Bancorp
USB
$99.6B
| $204M | 0.35% |
4,968,469
-123,100
| -2% | -$5.33M |
|
54
Nike
NKE
$61.9B
| $197M | 0.34% |
3,210,820
-82,200
| -2% | -$4.65M |
|
55
Lockheed Martin
LMT
$136B
| $192M | 0.33% |
925,733
-27,899
| -3% | -$5.68M |
|
|
WBA
56
DELISTED
Walgreens Boots Alliance
WBA
| $192M | 0.33% |
2,306,944
-81,300
| -3% | -$7.35M |
|
57
Lowe's Companies
LOW
$125B
| $191M | 0.32% |
2,774,041
-93,300
| -3% | -$6.42M |
|
58
Goldman Sachs
GS
$303B
| $188M | 0.32% |
1,079,580
-43,100
| -4% | -$8.45M |
|
59
Mondelez International
MDLZ
$79.9B
| $185M | 0.32% |
4,429,811
+112,400
| +3% | +$4.84M |
|
60
United Parcel Service
UPS
$88.9B
| $185M | 0.32% |
1,879,326
-108,600
| -5% | -$10.7M |
|
61
ConocoPhillips
COP
$141B
| $184M | 0.31% |
3,828,441
+146,300
| +4% | +$7.44M |
|
62
American Express
AXP
$230B
| $182M | 0.31% |
2,451,026
-800
| -0% | -$61.5K |
|
63
Biogen
BIIB
$30.7B
| $178M | 0.3% |
610,699
+300
| +0% | +$99.1K |
|
64
Costco
COST
$420B
| $175M | 0.3% |
1,209,493
-32,400
| -3% | -$4.62M |
|
|
ESRX
65
DELISTED
Express Scripts Holding Company
ESRX
| $168M | 0.29% |
2,080,500
-58,600
| -3% | -$5.1M |
|
66
Accenture
ACN
$108B
| $166M | 0.28% |
1,694,219
-75,200
| -4% | -$7.46M |
|
67
Abbott
ABT
$187B
| $166M | 0.28% |
4,124,029
-104,000
| -2% | -$4.9M |
|
|
TWX
68
DELISTED
Time Warner Inc
TWX
| $162M | 0.28% |
2,362,685
-120,100
| -5% | -$9.43M |
|
69
Simon Property Group
SPG
$72.3B
| $162M | 0.28% |
883,355
+2,000
| +0.2% | +$367K |
|
70
Booking.com
BKNG
$161B
| $160M | 0.27% |
3,243,975
-52,500
| -2% | -$2.61M |
|
71
Duke Energy
DUK
$97.3B
| $159M | 0.27% |
2,211,289
+79,300
| +4% | +$5.74M |
|
72
Colgate-Palmolive
CL
$74.4B
| $155M | 0.26% |
2,445,150
-136,500
| -5% | -$8.92M |
|
73
Occidental Petroleum
OXY
$55.9B
| $151M | 0.26% |
2,289,144
+71,823
| +3% | +$5.01M |
|
|
TWC
74
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $149M | 0.25% |
832,713
-700
| -0.1% | -$131K |
|
75
Target
TGT
$68B
| $147M | 0.25% |
1,873,161
-65,700
| -3% | -$5.24M |
|
Similar funds
California Public Employees Retirement System's Q3 2015 Portfolio in Review
As of Q3 2015, California Public Employees Retirement System held 3,738 positions worth $58.9B, down 12% from $66.6B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
California Public Employees Retirement System withdrew a net $2.02B in Q3 2015, closing 89 positions and reducing 1,790 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $798M position sold in full.
By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 16% a quarter earlier, followed by Technology and Healthcare.
Against the trend, California Public Employees Retirement System opened a new position in Kraft Heinz worth $103M.
- California Public Employees Retirement System's largest Q3 2015 buy was Kraft Heinz: 1,459,670 shares worth $103M.
- California Public Employees Retirement System added most to NETSCOUT in Q3 2015, an estimated $109M increase.
- California Public Employees Retirement System's biggest Q3 2015 reduction was eBay, cutting an estimated $115M.
- California Public Employees Retirement System fully exited Alphabet (Google) Class C in Q3 2015, selling an estimated $798M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $58.9B portfolio in Q3 2015.
- California Public Employees Retirement System opened 61 new positions and closed 89 in Q3 2015.
- California Public Employees Retirement System's portfolio value fell 12% quarter-over-quarter to $58.9B.
Based on California Public Employees Retirement System's 13F filing for Q3 2015, filed 13 Nov 2015.