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 |
Vanguard S&P 500 ETF
VOO
|
+$9.25B |
| 2 |
NextEra Energy
NEE
|
+$196M |
| 3 |
Apple
AAPL
|
+$188M |
| 4 |
Texas Instruments
TXN
|
+$109M |
| 5 |
Costco
COST
|
+$98.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$777M |
| 2 |
Microsoft
MSFT
|
+$194M |
| 3 |
Applied Materials
AMAT
|
+$182M |
| 4 |
Amazon
AMZN
|
+$175M |
| 5 |
Meta Platforms (Facebook)
META
|
+$143M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.36% |
| 2 | Financials | 12.42% |
| 3 | Healthcare | 10.1% |
| 4 | Consumer Discretionary | 8.72% |
| 5 | Communication Services | 7.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
826
WillScot Mobile Mini Holdings
WSC
$4.18B
| $11.2M | 0.01% |
333,759
-25,580
| -7% | -$940K |
|
827
Essent Group
ESNT
$6.08B
| $11.2M | 0.01% |
204,925
-21,395
| -9% | -$1.24M |
|
828
ESAB
ESAB
$5.32B
| $11.1M | 0.01% |
92,876
-19,810
| -18% | -$2.39M |
|
|
AZEK
829
DELISTED
The AZEK Co
AZEK
| $11.1M | 0.01% |
234,241
-21,090
| -8% | -$1.01M |
|
830
First Industrial Realty Trust
FR
$8.36B
| $11M | 0.01% |
220,388
-14,301
| -6% | -$759K |
|
|
COOP
831
DELISTED
Mr. Cooper
COOP
| $11M | 0.01% |
114,996
+5
| +0% | +$475 |
|
832
MKS Inc
MKSI
$19.8B
| $11M | 0.01% |
105,328
-7,457
| -7% | -$805K |
|
833
SharkNinja
SN
$26.2B
| $11M | 0.01% |
112,790
-4,529
| -4% | -$462K |
|
834
MACOM Technology Solutions
MTSI
$22.7B
| $11M | 0.01% |
84,506
-116,400
| -58% | -$14.6M |
|
835
Prosperity Bancshares
PB
$8.81B
| $11M | 0.01% |
145,473
-4,758
| -3% | -$367K |
|
836
Lantheus
LNTH
$6.59B
| $10.9M | 0.01% |
121,535
-1,688
| -1% | -$164K |
|
837
Crocs
CROX
$6.63B
| $10.9M | 0.01% |
99,244
-11,599
| -10% | -$1.35M |
|
838
Commault Systems
CVLT
$5.78B
| $10.9M | 0.01% |
71,999
-87,494
| -55% | -$14.1M |
|
839
Elastic
ESTC
$7.93B
| $10.9M | 0.01% |
109,526
-30,438
| -22% | -$2.81M |
|
840
ACI Worldwide
ACIW
$5.34B
| $10.8M | 0.01% |
208,704
-11,870
| -5% | -$631K |
|
841
FMC
FMC
$1.31B
| $10.8M | 0.01% |
222,578
-7,525
| -3% | -$439K |
|
842
Penumbra
PEN
$12.8B
| $10.8M | 0.01% |
45,502
-4,696
| -9% | -$1.07M |
|
|
PPLI
843
People Inc
PPLI
$3.03B
| $10.8M | 0.01% |
305,279
+112,322
| +58% | +$4.5M |
|
844
HEICO Corp
HEI
$50.9B
| $10.8M | 0.01% |
45,384
-7,951
| -15% | -$2.06M |
|
845
Element Solutions
ESI
$9.08B
| $10.8M | 0.01% |
424,115
-35,711
| -8% | -$965K |
|
846
UGI
UGI
$7.29B
| $10.8M | 0.01% |
380,961
-18,568
| -5% | -$482K |
|
847
Etsy
ETSY
$7.38B
| $10.7M | 0.01% |
203,079
-10,485
| -5% | -$559K |
|
848
NOV
NOV
$7.38B
| $10.7M | 0.01% |
734,205
-33,473
| -4% | -$523K |
|
849
OneMain Financial
OMF
$7.27B
| $10.7M | 0.01% |
204,389
-11,985
| -6% | -$621K |
|
850
Americold
COLD
$4.17B
| $10.6M | 0.01% |
494,885
-22,448
| -4% | -$543K |
|
Similar funds
California Public Employees Retirement System's Q4 2024 Portfolio in Review
As of Q4 2024, California Public Employees Retirement System held 1,148 positions worth $150B, up 4.6% from $143B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
California Public Employees Retirement System deployed $5.06B of net new capital in Q4 2024, opening 2 new positions and adding to 208 existing holdings. Its largest new stake was Vanguard S&P 500 ETF: 17,080,007 shares worth $9.2B.
By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 33% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was NVIDIA, an estimated $777M trimmed.
- California Public Employees Retirement System's largest Q4 2024 buy was Vanguard S&P 500 ETF: 17,080,007 shares worth $9.2B.
- California Public Employees Retirement System added most to NextEra Energy in Q4 2024, an estimated $196M increase.
- California Public Employees Retirement System's biggest Q4 2024 reduction was NVIDIA, cutting an estimated $777M.
- California Public Employees Retirement System fully exited Marathon Oil Corporation in Q4 2024, selling an estimated $35M.
- California Public Employees Retirement System's ten largest holdings make up 34% of its $150B portfolio in Q4 2024.
- California Public Employees Retirement System opened 2 new positions and closed 6 in Q4 2024.
- California Public Employees Retirement System's portfolio value rose 4.6% quarter-over-quarter to $150B.
Based on California Public Employees Retirement System's 13F filing for Q4 2024, filed 12 Feb 2025.