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 | |
|---|---|---|---|---|---|---|
751
Brixmor Property Group
BRX
$9.09B
| $13.6M | 0.01% |
586,346
+16,910
| +3% | +$364K |
|
752
PVH
PVH
$3.91B
| $13.6M | 0.01% |
111,515
-6,263
| -5% | -$561K |
|
753
Mine Safety
MSA
$7.44B
| $13.6M | 0.01% |
80,520
-3,543
| -4% | -$576K |
|
754
Evercore
EVR
$11.7B
| $13.5M | 0.01% |
79,032
-1,206
| -2% | -$175K |
|
755
Range Resources
RRC
$9.5B
| $13.5M | 0.01% |
443,613
-17,835
| -4% | -$585K |
|
756
Voya Financial
VOYA
$8.9B
| $13.5M | 0.01% |
184,794
-5,227
| -3% | -$364K |
|
757
Elanco Animal Health
ELAN
$11.4B
| $13.4M | 0.01% |
900,060
-25,406
| -3% | -$288K |
|
|
LNW
758
DELISTED
Light & Wonder
LNW
| $13.4M | 0.01% |
163,027
-11,790
| -7% | -$946K |
|
759
Brunswick
BC
$5.28B
| $13.3M | 0.01% |
137,796
-4,655
| -3% | -$370K |
|
|
SWN
760
DELISTED
Southwestern Energy Company
SWN
| $13.3M | 0.01% |
2,034,631
-102,122
| -5% | -$682K |
|
761
Comfort Systems
FIX
$59.4B
| $13.3M | 0.01% |
64,651
+5,376
| +9% | +$993K |
|
762
HEICO Corp
HEI
$51.3B
| $13.3M | 0.01% |
74,125
-6,671
| -8% | -$1.13M |
|
763
Oshkosh
OSK
$9.62B
| $13.3M | 0.01% |
122,244
-5,892
| -5% | -$570K |
|
|
FLG
764
Flagstar Bank National Association
FLG
$5.89B
| $13.2M | 0.01% |
431,014
-26,137
| -6% | -$784K |
|
765
Bio-Rad Laboratories Class A
BIO
$9.53B
| $13.2M | 0.01% |
40,887
-487
| -1% | -$153K |
|
766
SiteOne Landscape Supply
SITE
$4.32B
| $13.1M | 0.01% |
80,709
-4,920
| -6% | -$717K |
|
767
Chord Energy
CHRD
$7.62B
| $13.1M | 0.01% |
78,852
+3,128
| +4% | +$512K |
|
768
Gentex
GNTX
$5.04B
| $13.1M | 0.01% |
399,664
-24,743
| -6% | -$764K |
|
769
Western Alliance Bancorporation
WAL
$8.89B
| $13M | 0.01% |
197,823
-8,854
| -4% | -$447K |
|
770
SouthState Bank Corp
SSB
$10.7B
| $13M | 0.01% |
153,817
-3,256
| -2% | -$240K |
|
771
Hanover Insurance
THG
$7.73B
| $12.9M | 0.01% |
106,278
+27,178
| +34% | +$3.23M |
|
772
First Industrial Realty Trust
FR
$8.35B
| $12.9M | 0.01% |
244,092
-9,025
| -4% | -$420K |
|
773
Trex
TREX
$5.07B
| $12.9M | 0.01% |
155,285
-6,462
| -4% | -$429K |
|
774
SoFi Technologies
SOFI
$23.2B
| $12.9M | 0.01% |
1,292,030
-48,933
| -4% | -$389K |
|
775
Olin
OLN
$2.17B
| $12.9M | 0.01% |
238,218
-11,526
| -5% | -$552K |
|
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.