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 |
Merck
MRK
|
+$261M |
| 2 |
Becton Dickinson
BDX
|
+$198M |
| 3 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$186M |
| 4 |
Apple
AAPL
|
+$171M |
| 5 |
Johnson & Johnson
JNJ
|
+$152M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aflac
AFL
|
+$125M |
| 2 |
ONC
BeOne Medicines Ltd
ONC
|
+$68.8M |
| 3 |
UDR
UDR
|
+$61.6M |
| 4 |
IMMU
Immunomedics Inc
IMMU
|
+$40.1M |
| 5 |
NextEra Energy
NEE
|
+$38M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.29% |
| 2 | Healthcare | 14.28% |
| 3 | Financials | 12.51% |
| 4 | Consumer Discretionary | 11.95% |
| 5 | Communication Services | 9.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
726
Ares Capital
ARCC
$14.3B
| $17.3M | 0.01% |
1,022,500
+52,000
| +5% | +$806K |
|
727
Lumentum
LITE
$63.8B
| $17.3M | 0.01% |
181,991
+10,648
| +6% | +$918K |
|
728
First Horizon
FHN
$12B
| $17.2M | 0.01% |
1,349,043
+33,767
| +3% | +$396K |
|
729
Arrowhead Research
ARWR
$12.6B
| $17.1M | 0.01% |
223,126
+10,836
| +5% | +$693K |
|
730
Donaldson
DCI
$11.2B
| $17.1M | 0.01% |
305,172
+13,981
| +5% | +$738K |
|
|
SMAR
731
DELISTED
Smartsheet Inc.
SMAR
| $17.1M | 0.01% |
246,102
-6,103
| -2% | -$358K |
|
732
Royal Gold
RGLD
$19.8B
| $17M | 0.01% |
160,295
+9,273
| +6% | +$1.07M |
|
733
American Airlines Group
AAL
$10.1B
| $17M | 0.01% |
1,080,484
+37,817
| +4% | +$524K |
|
734
Ionis Pharmaceuticals
IONS
$9.21B
| $17M | 0.01% |
300,806
+2,823
| +0.9% | +$141K |
|
735
Commerce Bancshares
CBSH
$8.47B
| $17M | 0.01% |
329,596
+19,908
| +6% | +$964K |
|
736
RH
RH
$3.46B
| $16.9M | 0.01% |
37,693
+2,077
| +6% | +$856K |
|
737
SiteOne Landscape Supply
SITE
$4.32B
| $16.9M | 0.01% |
106,254
+6,302
| +6% | +$864K |
|
738
Americold
COLD
$4.13B
| $16.8M | 0.01% |
448,812
+20,550
| +5% | +$739K |
|
|
TMX
739
DELISTED
Terminix Global Holdings, Inc.
TMX
| $16.7M | 0.01% |
+328,107
| New | +$15.8M |
|
740
PVH
PVH
$3.91B
| $16.7M | 0.01% |
178,226
+18,051
| +11% | +$1.37M |
|
741
DXC Technology
DXC
$1.73B
| $16.7M | 0.01% |
648,356
+44,489
| +7% | +$950K |
|
742
iRhythm Holdings
IRTC
$4.02B
| $16.6M | 0.01% |
70,053
+7,484
| +12% | +$1.71M |
|
743
Woodward
WWD
$21.1B
| $16.6M | 0.01% |
136,209
+6,917
| +5% | +$702K |
|
|
GRUB
744
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $16.4M | 0.01% |
110,726
+14,324
| +15% | +$2.12M |
|
745
Huntington Ingalls Industries
HII
$12.9B
| $16.4M | 0.01% |
96,254
+5,412
| +6% | +$860K |
|
746
Kohl's
KSS
$2.1B
| $16.3M | 0.01% |
401,564
+25,743
| +7% | +$749K |
|
747
ITT
ITT
$19.4B
| $16.3M | 0.01% |
212,116
+12,007
| +6% | +$839K |
|
748
BlackLine
BL
$1.63B
| $16.3M | 0.01% |
122,257
+7,900
| +7% | +$881K |
|
749
Kilroy Realty
KRC
$4.24B
| $16.3M | 0.01% |
284,067
+17,500
| +7% | +$984K |
|
750
QuidelOrtho
QDEL
$959M
| $16.3M | 0.01% |
90,569
+5,064
| +6% | +$1.13M |
|
Similar funds
California Public Employees Retirement System's Q4 2020 Portfolio in Review
As of Q4 2020, California Public Employees Retirement System held 3,678 positions worth $130B, up 15% from $112B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
California Public Employees Retirement System's Q4 2020 filing shows 119 new, 1,416 increased, 1,670 reduced and 115 closed positions. Its largest new stake was Seagen Inc. Common Stock: 998,612 shares worth $175M. The largest sale was Aflac, an estimated $125M.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 22% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q4 2020 buy was Seagen Inc. Common Stock: 998,612 shares worth $175M.
- California Public Employees Retirement System added most to Merck in Q4 2020, an estimated $261M increase.
- California Public Employees Retirement System's biggest Q4 2020 reduction was Aflac, cutting an estimated $125M.
- California Public Employees Retirement System fully exited BeOne Medicines Ltd in Q4 2020, selling an estimated $68.8M.
- California Public Employees Retirement System's ten largest holdings make up 18% of its $130B portfolio in Q4 2020.
- California Public Employees Retirement System opened 119 new positions and closed 115 in Q4 2020.
- California Public Employees Retirement System's portfolio value rose 15% quarter-over-quarter to $130B.
Based on California Public Employees Retirement System's 13F filing for Q4 2020, filed 2 Feb 2021.