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 |
iShares Core S&P 500 ETF
IVV
|
+$10.1B |
| 2 |
Seagate
STX
|
+$258M |
| 3 |
Bloom Energy
BE
|
+$248M |
| 4 |
Citigroup
C
|
+$206M |
| 5 |
NBIS
Nebius Group N.V.
NBIS
|
+$196M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$4.58B |
| 2 |
Microsoft
MSFT
|
+$2.47B |
| 3 |
Apple
AAPL
|
+$2.31B |
| 4 |
Vanguard S&P 500 ETF
VOO
|
+$1.95B |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$920M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.14% |
| 2 | Miscellaneous | 19.44% |
| 3 | Financials | 9.36% |
| 4 | Communication Services | 7.86% |
| 5 | Industrials | 7.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
826
Lumen
LUMN
$6.85B
| $12M | 0.01% |
1,556,841
+6,954
| +0.4% | +$61K |
|
827
Macy's
M
$5.91B
| $11.9M | 0.01% |
507,040
-22,350
| -4% | -$468K |
|
828
The Ensign Group
ENSG
$9.94B
| $11.9M | 0.01% |
74,475
-60,192
| -45% | -$10.6M |
|
829
Wyndham Hotels & Resorts
WH
$5.19B
| $11.9M | 0.01% |
141,767
-2,142
| -1% | -$178K |
|
830
Travel + Leisure Co
TNL
$3.97B
| $11.9M | 0.01% |
155,315
-1,265
| -0.8% | -$88.9K |
|
831
Factset
FDS
$10.3B
| $11.7M | 0.01% |
51,067
-22,543
| -31% | -$5.18M |
|
832
Houlihan Lokey
HLI
$9.46B
| $11.7M | 0.01% |
87,413
-19,961
| -19% | -$2.95M |
|
833
HEICO Corp
HEI
$44.2B
| $11.7M | 0.01% |
32,893
-17,450
| -35% | -$5.31M |
|
834
Gentex
GNTX
$4.8B
| $11.7M | 0.01% |
462,371
+6,711
| +1% | +$159K |
|
835
Magnolia Oil & Gas
MGY
$6.5B
| $11.7M | 0.01% |
456,471
+42,474
| +10% | +$1.21M |
|
836
WEX
WEX
$6.38B
| $11.6M | 0.01% |
82,330
+5,726
| +7% | +$848K |
|
837
Brunswick
BC
$4.66B
| $11.6M | 0.01% |
137,466
+2,836
| +2% | +$227K |
|
838
The Mosaic Company
MOS
$8.43B
| $11.5M | 0.01% |
544,043
+150,323
| +38% | +$3.47M |
|
839
MSC Industrial Direct
MSM
$6.72B
| $11.5M | 0.01% |
96,908
+7,419
| +8% | +$788K |
|
840
Mine Safety
MSA
$7.28B
| $11.5M | 0.01% |
65,948
+598
| +0.9% | +$100K |
|
841
American Healthcare REIT
AHR
$11.9B
| $11.5M | 0.01% |
220,737
-68,204
| -24% | -$3.35M |
|
842
Madison Square Garden
MSGS
$9.41B
| $11.5M | 0.01% |
28,631
-8,373
| -23% | -$2.97M |
|
843
Phillips Edison & Co
PECO
$5.03B
| $11.4M | 0.01% |
274,388
+13,205
| +5% | +$528K |
|
844
Chemed
CHE
$6.78B
| $11.4M | 0.01% |
24,467
-7,053
| -22% | -$2.97M |
|
|
JBTM
845
JBT Marel
JBTM
$6.02B
| $11.3M | 0.01% |
78,098
+1,029
| +1% | +$133K |
|
846
Qualys
QLYS
$5.89B
| $11.3M | 0.01% |
81,973
+6,093
| +8% | +$599K |
|
847
Radian Group
RDN
$4.77B
| $11.3M | 0.01% |
299,139
+10,394
| +4% | +$369K |
|
848
Nexstar Media Group
NXST
$5.21B
| $11.2M | 0.01% |
62,965
+4,873
| +8% | +$912K |
|
849
Kinsale Capital Group
KNSL
$8.37B
| $11.2M | 0.01% |
34,076
-1,287
| -4% | -$414K |
|
850
Selective Insurance
SIGI
$5.41B
| $11.2M | 0.01% |
115,798
-41,306
| -26% | -$3.57M |
|
Similar funds
California Public Employees Retirement System's Q2 2026 Portfolio in Review
As of Q2 2026, California Public Employees Retirement System held 1,068 positions worth $177B, up 9.2% from $162B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
California Public Employees Retirement System withdrew a net $10.4B in Q2 2026, closing 7 positions and reducing 561 holdings. Its most notable exit was Coterra Energy, an estimated $55M position sold in full.
By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 32% a quarter earlier, followed by Miscellaneous and Financials.
Against the trend, California Public Employees Retirement System opened a new position in Honeywell Aerospace worth $152M.
- California Public Employees Retirement System's largest Q2 2026 buy was Honeywell Aerospace: 689,424 shares worth $152M.
- California Public Employees Retirement System added most to iShares Core S&P 500 ETF in Q2 2026, an estimated $10.1B increase.
- California Public Employees Retirement System's biggest Q2 2026 reduction was NVIDIA, cutting an estimated $4.58B.
- California Public Employees Retirement System fully exited Coterra Energy in Q2 2026, selling an estimated $55M.
- California Public Employees Retirement System's ten largest holdings make up 43% of its $177B portfolio in Q2 2026.
- California Public Employees Retirement System opened 4 new positions and closed 7 in Q2 2026.
- California Public Employees Retirement System's portfolio value rose 9.2% quarter-over-quarter to $177B.
Based on California Public Employees Retirement System's 13F filing for Q2 2026, filed 14 Aug 2026.