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
| 1 |
NVIDIA
NVDA
|
$894M |
| 2 |
UnitedHealth
UNH
|
$430M |
| 3 |
Intel
INTC
|
$409M |
| 4 |
Amazon
AMZN
|
$352M |
| 5 |
Broadcom
AVGO
|
$262M |
Top Sells
| 1 |
ATVI
Activision Blizzard Inc.
ATVI
|
$415M |
| 2 |
Microsoft
MSFT
|
$275M |
| 3 |
VMW
VMware, Inc
VMW
|
$221M |
| 4 |
JPMorgan Chase
JPM
|
$146M |
| 5 |
Verizon
VZ
|
$141M |
Sector Composition
| 1 | Technology | 30.1% |
| 2 | Healthcare | 14.11% |
| 3 | Financials | 11.92% |
| 4 | Consumer Discretionary | 9.96% |
| 5 | Industrials | 7.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
51
Progressive
PGR
$145B
| $482M | 0.37% |
3,027,638
-177,042
| -6% | -$28.2M |
|
52
Qualcomm
QCOM
$173B
| $481M | 0.37% |
3,324,303
+1,090,504
| +49% | +$158M |
|
53
Abbott
ABT
$231B
| $481M | 0.37% |
4,367,706
-44,277
| -1% | -$4.87M |
|
54
Automatic Data Processing
ADP
$123B
| $478M | 0.36% |
2,051,805
-4,313
| -0.2% | -$1M |
|
55
Southern Company
SO
$102B
| $460M | 0.35% |
6,554,659
-78,897
| -1% | -$5.53M |
|
56
Duke Energy
DUK
$95.3B
| $452M | 0.34% |
4,660,977
-51,619
| -1% | -$5.01M |
|
57
Mondelez International
MDLZ
$79.5B
| $452M | 0.34% |
6,235,276
+450,459
| +8% | +$32.6M |
|
58
Financial Select Sector SPDR Fund
XLF
$54.1B
| $451M | 0.34% |
12,000,000
| – | – |
|
59
Lockheed Martin
LMT
$106B
| $448M | 0.34% |
989,248
-11,309
| -1% | -$5.13M |
|
60
Waste Management
WM
$91.2B
| $439M | 0.33% |
2,451,511
-26,619
| -1% | -$4.77M |
|
61
Accenture
ACN
$162B
| $430M | 0.33% |
1,225,897
-63,035
| -5% | -$22.1M |
|
62
Advanced Micro Devices
AMD
$264B
| $428M | 0.32% |
2,903,227
-64,285
| -2% | -$9.48M |
|
63
Fiserv
FI
$75.1B
| $424M | 0.32% |
3,190,151
-150,473
| -5% | -$20M |
|
64
Becton Dickinson
BDX
$55.3B
| $421M | 0.32% |
1,725,603
-1,656
| -0.1% | -$404K |
|
65
Colgate-Palmolive
CL
$67.9B
| $397M | 0.3% |
4,976,862
-63,469
| -1% | -$5.06M |
|
66
Micron Technology
MU
$133B
| $388M | 0.29% |
4,541,662
+2,523,267
| +125% | +$215M |
|
67
Netflix
NFLX
$513B
| $383M | 0.29% |
785,855
-28,464
| -3% | -$13.9M |
|
68
Analog Devices
ADI
$124B
| $383M | 0.29% |
1,926,587
+315,712
| +20% | +$62.7M |
|
69
Morgan Stanley
MS
$240B
| $368M | 0.28% |
3,948,333
-66,961
| -2% | -$6.24M |
|
70
Intuit
INTU
$186B
| $367M | 0.28% |
587,744
+69,430
| +13% | +$43.4M |
|
71
Honeywell
HON
$139B
| $365M | 0.28% |
1,739,695
+375,158
| +27% | +$78.7M |
|
72
Northrop Grumman
NOC
$84.5B
| $364M | 0.28% |
778,098
+3,219
| +0.4% | +$1.51M |
|
73
Regeneron Pharmaceuticals
REGN
$61.5B
| $362M | 0.28% |
412,507
-7,737
| -2% | -$6.8M |
|
74
Danaher
DHR
$147B
| $359M | 0.27% |
1,553,484
-40,601
| -3% | -$9.39M |
|
75
Caterpillar
CAT
$196B
| $357M | 0.27% |
1,208,816
+202,154
| +20% | +$59.8M |
|