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
|
+$2.63B |
| 2 |
Meta Platforms (Facebook)
META
|
+$374M |
| 3 |
Abbott
ABT
|
+$260M |
| 4 |
Stryker
SYK
|
+$158M |
| 5 |
McDonald's
MCD
|
+$148M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.19B |
| 2 |
Costco
COST
|
+$454M |
| 3 |
Oracle
ORCL
|
+$226M |
| 4 |
Micron Technology
MU
|
+$212M |
| 5 |
Texas Instruments
TXN
|
+$157M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.07% |
| 2 | Financials | 13.32% |
| 3 | Healthcare | 11.33% |
| 4 | Consumer Discretionary | 8.29% |
| 5 | Communication Services | 8.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
826
Rocket Lab Corp
RKLB
$51.2B
| $10.2M | 0.01% |
+569,264
| New | +$13.6M |
|
827
AES
AES
$10.5B
| $10.2M | 0.01% |
819,332
-306,779
| -27% | -$3.55M |
|
|
GTLS
828
DELISTED
Chart Industries
GTLS
| $10.1M | 0.01% |
70,202
+15,209
| +28% | +$2.8M |
|
829
STAG Industrial
STAG
$7.08B
| $10.1M | 0.01% |
280,363
-19,768
| -7% | -$689K |
|
|
EXAS
830
DELISTED
Exact Sciences
EXAS
| $10.1M | 0.01% |
233,358
-3,961
| -2% | -$201K |
|
831
Vail Resorts
MTN
$5.26B
| $10.1M | 0.01% |
63,078
-3,821
| -6% | -$635K |
|
832
Jackson Financial
JXN
$8.75B
| $10.1M | 0.01% |
120,262
-21,249
| -15% | -$1.89M |
|
833
Crocs
CROX
$6.31B
| $10M | 0.01% |
94,321
-4,923
| -5% | -$510K |
|
834
Floor & Decor
FND
$6.44B
| $10M | 0.01% |
124,311
-3,256
| -3% | -$308K |
|
835
Mohawk Industries
MHK
$9.26B
| $9.94M | 0.01% |
87,035
+510
| +0.6% | +$60.8K |
|
836
Nexstar Media Group
NXST
$5.69B
| $9.91M | 0.01% |
55,289
-2,986
| -5% | -$483K |
|
837
Rithm Capital
RITM
$5.72B
| $9.9M | 0.01% |
864,817
-55,445
| -6% | -$641K |
|
838
Dutch Bros
BROS
$8.66B
| $9.89M | 0.01% |
+160,198
| New | +$10.6M |
|
839
Lincoln National
LNC
$8.51B
| $9.88M | 0.01% |
275,159
+9,108
| +3% | +$323K |
|
840
Celanese
CE
$4.92B
| $9.86M | 0.01% |
173,633
-21,065
| -11% | -$1.32M |
|
|
SKX
841
DELISTED
Skechers
SKX
| $9.85M | 0.01% |
173,391
-60,013
| -26% | -$3.9M |
|
842
Fluor
FLR
$7.08B
| $9.83M | 0.01% |
274,296
-6,459
| -2% | -$279K |
|
843
Matador Resources
MTDR
$6.51B
| $9.82M | 0.01% |
192,197
-7,333
| -4% | -$405K |
|
844
Brinker International
EAT
$9.49B
| $9.81M | 0.01% |
+65,847
| New | +$10.1M |
|
845
UMB Financial
UMBF
$11.2B
| $9.8M | 0.01% |
96,964
+13,443
| +16% | +$1.48M |
|
846
Ryman Hospitality Properties
RHP
$7.7B
| $9.76M | 0.01% |
106,766
-482
| -0.4% | -$48.4K |
|
847
Alkermes
ALKS
$8.26B
| $9.68M | 0.01% |
293,190
+3,391
| +1% | +$111K |
|
848
Qfin Holdings
QFIN
$1.56B
| $9.61M | 0.01% |
214,066
+2,335
| +1% | +$96.7K |
|
849
Aurora
AUR
$13.6B
| $9.61M | 0.01% |
+1,429,051
| New | +$10.2M |
|
850
Vipshop
VIPS
$7.2B
| $9.56M | 0.01% |
609,807
-59,621
| -9% | -$901K |
|
Similar funds
California Public Employees Retirement System's Q1 2025 Portfolio in Review
As of Q1 2025, California Public Employees Retirement System held 1,156 positions worth $143B, down 4.3% from $150B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Trading was light in Q1 2025: portfolio turnover was 4.5%. California Public Employees Retirement System opened 14 new positions and exited 38, leaving the 1,156-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 32% a quarter earlier, followed by Financials and Healthcare.
- California Public Employees Retirement System's largest Q1 2025 buy was CRH: 1,135,223 shares worth $99.9M.
- California Public Employees Retirement System added most to Vanguard S&P 500 ETF in Q1 2025, an estimated $2.63B increase.
- California Public Employees Retirement System's biggest Q1 2025 reduction was Apple, cutting an estimated $1.19B.
- California Public Employees Retirement System fully exited Smartsheet Inc. in Q1 2025, selling an estimated $34.2M.
- California Public Employees Retirement System's ten largest holdings make up 33% of its $143B portfolio in Q1 2025.
- California Public Employees Retirement System opened 14 new positions and closed 38 in Q1 2025.
- California Public Employees Retirement System's portfolio value fell 4.3% quarter-over-quarter to $143B.
Based on California Public Employees Retirement System's 13F filing for Q1 2025, filed 13 May 2025.