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 |
Verizon
VZ
|
+$175M |
| 2 |
Oracle
ORCL
|
+$148M |
| 3 |
CME Group
CME
|
+$115M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$110M |
| 5 |
Intercontinental Exchange
ICE
|
+$94.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$334M |
| 2 |
RTX Corp
RTX
|
+$289M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$224M |
| 4 |
iShares MSCI EAFE ETF
EFA
|
+$201M |
| 5 |
Elevance Health
ELV
|
+$174M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.63% |
| 2 | Financials | 13.69% |
| 3 | Healthcare | 13.66% |
| 4 | Consumer Discretionary | 9.88% |
| 5 | Consumer Staples | 9.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
776
Tapestry
TPR
$25.9B
| $8.13M | 0.01% |
628,005
-178,250
| -22% | -$4.17M |
|
777
ICU Medical
ICUI
$4.58B
| $8.1M | 0.01% |
40,132
-800
| -2% | -$154K |
|
778
Mine Safety
MSA
$7.32B
| $8.09M | 0.01% |
79,912
-40,248
| -33% | -$5.07M |
|
779
Churchill Downs
CHDN
$6.2B
| $8.08M | 0.01% |
157,052
-38,642
| -20% | -$2.49M |
|
780
Match Group
MTCH
$8.56B
| $8.04M | 0.01% |
121,813
-8,100
| -6% | -$595K |
|
781
Zscaler
ZS
$30.4B
| $8.04M | 0.01% |
132,032
-1,900
| -1% | -$105K |
|
782
Hanover Insurance
THG
$7.77B
| $8.03M | 0.01% |
88,630
-18,488
| -17% | -$2.29M |
|
783
IPG Photonics
IPGP
$3.57B
| $8.02M | 0.01% |
72,700
+1,100
| +2% | +$144K |
|
|
IPHI
784
DELISTED
INPHI CORPORATION
IPHI
| $7.97M | 0.01% |
100,691
-25,821
| -20% | -$2.01M |
|
|
EVBG
785
DELISTED
Everbridge, Inc. Common Stock
EVBG
| $7.97M | 0.01% |
74,898
-29,049
| -28% | -$2.85M |
|
786
Ziff Davis
ZD
$1.92B
| $7.95M | 0.01% |
122,197
-31,440
| -20% | -$2.46M |
|
787
Alaska Air
ALK
$5.3B
| $7.95M | 0.01% |
279,137
-15,012
| -5% | -$816K |
|
788
Leggett & Platt
LEG
$1.32B
| $7.92M | 0.01% |
296,661
+4,642
| +2% | +$193K |
|
789
NOV
NOV
$7.36B
| $7.9M | 0.01% |
803,270
+12,700
| +2% | +$239K |
|
790
Five Below
FIVE
$13.4B
| $7.89M | 0.01% |
112,164
-19,261
| -15% | -$1.96M |
|
791
RLI Corp
RLI
$5.87B
| $7.88M | 0.01% |
179,228
-34,800
| -16% | -$1.53M |
|
792
Invesco
IVZ
$14.3B
| $7.88M | 0.01% |
867,697
-14,300
| -2% | -$217K |
|
793
Cogent Communications
CCOI
$530M
| $7.87M | 0.01% |
95,986
-47,094
| -33% | -$3.56M |
|
|
AVLR
794
DELISTED
Avalara, Inc.
AVLR
| $7.87M | 0.01% |
105,432
-19,002
| -15% | -$1.55M |
|
795
News Corp Class A
NWSA
$15.6B
| $7.86M | 0.01% |
876,262
-42,602
| -5% | -$537K |
|
|
EV
796
DELISTED
Eaton Vance Corp.
EV
| $7.86M | 0.01% |
243,564
-22,877
| -9% | -$970K |
|
797
Dropbox
DBX
$7.81B
| $7.85M | 0.01% |
433,700
-64,197
| -13% | -$1.17M |
|
798
Jefferies Financial Group
JEF
$12.9B
| $7.84M | 0.01% |
600,212
-49,995
| -8% | -$954K |
|
799
QuidelOrtho
QDEL
$1.03B
| $7.84M | 0.01% |
80,149
-3,200
| -4% | -$259K |
|
|
WMGI
800
DELISTED
Wright Medical Group Inc
WMGI
| $7.82M | 0.01% |
273,100
-108,517
| -28% | -$3.22M |
|
Similar funds
California Public Employees Retirement System's Q1 2020 Portfolio in Review
As of Q1 2020, California Public Employees Retirement System held 3,465 positions worth $82.6B, down 25% from $110B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
California Public Employees Retirement System withdrew a net $6.6B in Q1 2020, closing 83 positions and reducing 2,104 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $334M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.
Against the trend, California Public Employees Retirement System opened a new position in Diversified Healthcare Trust worth $1.94M.
- California Public Employees Retirement System's largest Q1 2020 buy was Diversified Healthcare Trust: 534,915 shares worth $1.94M.
- California Public Employees Retirement System added most to Verizon in Q1 2020, an estimated $175M increase.
- California Public Employees Retirement System's biggest Q1 2020 reduction was Alphabet (Google) Class A, cutting an estimated $224M.
- California Public Employees Retirement System fully exited State Street SPDR S&P 500 ETF Trust in Q1 2020, selling an estimated $334M.
- California Public Employees Retirement System's ten largest holdings make up 18% of its $82.6B portfolio in Q1 2020.
- California Public Employees Retirement System opened 29 new positions and closed 83 in Q1 2020.
- California Public Employees Retirement System's portfolio value fell 25% quarter-over-quarter to $82.6B.
Based on California Public Employees Retirement System's 13F filing for Q1 2020, filed 12 May 2020.