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
|
+$602M |
| 2 |
Microsoft
MSFT
|
+$594M |
| 3 |
Tesla
TSLA
|
+$589M |
| 4 |
Apple
AAPL
|
+$311M |
| 5 |
Chevron
CVX
|
+$149M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eli Lilly
LLY
|
+$420M |
| 2 |
Verizon
VZ
|
+$118M |
| 3 |
Oracle
ORCL
|
+$115M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$109M |
| 5 |
Mastercard
MA
|
+$99.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.29% |
| 2 | Healthcare | 14.6% |
| 3 | Financials | 12.06% |
| 4 | Consumer Discretionary | 10% |
| 5 | Consumer Staples | 7.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TMHC
851
DELISTED
Taylor Morrison
TMHC
| $9.61M | 0.01% |
225,604
+4,031
| +2% | +$190K |
|
852
AutoNation
AN
$6.89B
| $9.61M | 0.01% |
63,492
+972
| +2% | +$155K |
|
853
SM Energy
SM
$7.73B
| $9.59M | 0.01% |
241,965
+8,241
| +4% | +$312K |
|
854
Kirby Corp
KEX
$7B
| $9.57M | 0.01% |
115,613
-2,999
| -3% | -$242K |
|
855
Halozyme
HALO
$11.6B
| $9.56M | 0.01% |
250,251
+2,271
| +0.9% | +$93K |
|
856
Thor Industries
THO
$4.23B
| $9.51M | 0.01% |
99,958
-1,006
| -1% | -$105K |
|
857
Franklin Electric
FELE
$4.77B
| $9.5M | 0.01% |
106,504
-2,075
| -2% | -$201K |
|
858
Western Alliance Bancorporation
WAL
$8.89B
| $9.5M | 0.01% |
206,677
+46,284
| +29% | +$2.19M |
|
859
Fluor
FLR
$7.08B
| $9.49M | 0.01% |
258,648
+10,775
| +4% | +$361K |
|
860
National Fuel Gas
NFG
$7.82B
| $9.49M | 0.01% |
182,786
-878
| -0.5% | -$46.2K |
|
861
VF Corp
VFC
$5.81B
| $9.47M | 0.01% |
535,768
-73
| -0% | -$1.39K |
|
862
GATX Corp
GATX
$6.27B
| $9.44M | 0.01% |
86,707
+1,040
| +1% | +$126K |
|
863
EnerSys
ENS
$6.79B
| $9.4M | 0.01% |
99,334
+4,348
| +5% | +$446K |
|
864
Maximus
MMS
$2.84B
| $9.39M | 0.01% |
125,790
-4,584
| -4% | -$373K |
|
865
Tenable Holdings
TENB
$4.17B
| $9.37M | 0.01% |
209,236
-1,579
| -0.7% | -$71K |
|
|
SMAR
866
DELISTED
Smartsheet Inc.
SMAR
| $9.34M | 0.01% |
230,767
+5,347
| +2% | +$219K |
|
867
Ralph Lauren
RL
$23.7B
| $9.33M | 0.01% |
80,384
+1,477
| +2% | +$179K |
|
868
DT Midstream
DTM
$13.7B
| $9.32M | 0.01% |
176,067
-2,827
| -2% | -$147K |
|
869
Meritage Homes
MTH
$4.81B
| $9.28M | 0.01% |
151,598
+1,618
| +1% | +$111K |
|
870
Elastic
ESTC
$7.94B
| $9.27M | 0.01% |
114,143
| – | – |
|
871
OneMain Financial
OMF
$7.32B
| $9.26M | 0.01% |
230,909
+3,618
| +2% | +$155K |
|
872
Vipshop
VIPS
$7.2B
| $9.24M | 0.01% |
577,016
-72,399
| -11% | -$1.18M |
|
873
Ryman Hospitality Properties
RHP
$7.7B
| $9.19M | 0.01% |
110,305
+4,891
| +5% | +$432K |
|
874
Workiva
WK
$3.76B
| $9.18M | 0.01% |
90,621
+1,888
| +2% | +$196K |
|
875
Teradata
TDC
$2.5B
| $9.18M | 0.01% |
203,978
-300,177
| -60% | -$14.7M |
|
Similar funds
California Public Employees Retirement System's Q3 2023 Portfolio in Review
As of Q3 2023, California Public Employees Retirement System held 1,226 positions worth $116B, down 0.23% from $116B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
California Public Employees Retirement System deployed $4.31B of net new capital in Q3 2023, opening 16 new positions and adding to 806 existing holdings. Its largest new stake was CRH: 1,349,043 shares worth $73.8M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 28% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was Eli Lilly, an estimated $420M trimmed.
- California Public Employees Retirement System's largest Q3 2023 buy was CRH: 1,349,043 shares worth $73.8M.
- California Public Employees Retirement System added most to NVIDIA in Q3 2023, an estimated $602M increase.
- California Public Employees Retirement System's biggest Q3 2023 reduction was Eli Lilly, cutting an estimated $420M.
- California Public Employees Retirement System fully exited Black Knight, Inc. Common Stock in Q3 2023, selling an estimated $60.5M.
- California Public Employees Retirement System's ten largest holdings make up 24% of its $116B portfolio in Q3 2023.
- California Public Employees Retirement System opened 16 new positions and closed 36 in Q3 2023.
- California Public Employees Retirement System's portfolio value fell 0.23% quarter-over-quarter to $116B.
Based on California Public Employees Retirement System's 13F filing for Q3 2023, filed 2 Nov 2023.