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 | |
|---|---|---|---|---|---|---|
876
Watts Water Technologies
WTS
$12.8B
| $9.08M | 0.01% |
44,515
-109
| -0.2% | -$22.9K |
|
877
Terreno Realty
TRNO
$7.44B
| $9.03M | 0.01% |
142,869
+2,334
| +2% | +$151K |
|
878
Trex
TREX
$5.07B
| $9M | 0.01% |
154,910
-18,548
| -11% | -$1.21M |
|
879
FMC
FMC
$1.3B
| $8.99M | 0.01% |
213,175
-9,403
| -4% | -$418K |
|
880
HF Sinclair
DINO
$15.2B
| $8.99M | 0.01% |
273,333
-20,403
| -7% | -$715K |
|
881
VF Corp
VFC
$5.81B
| $8.96M | 0.01% |
577,256
+29,557
| +5% | +$655K |
|
882
Rambus
RMBS
$10.5B
| $8.93M | 0.01% |
172,384
-1,352
| -0.8% | -$79.4K |
|
883
MACOM Technology Solutions
MTSI
$22.9B
| $8.86M | 0.01% |
88,281
+3,775
| +4% | +$459K |
|
884
Radian Group
RDN
$4.86B
| $8.83M | 0.01% |
267,137
-22,648
| -8% | -$738K |
|
885
Credo Technology Group
CRDO
$46.2B
| $8.83M | 0.01% |
+219,795
| New | +$13.7M |
|
886
Bank OZK
OZK
$5.66B
| $8.82M | 0.01% |
202,942
-1,613
| -0.8% | -$76.3K |
|
887
Lazard
LAZ
$4.24B
| $8.79M | 0.01% |
203,116
-69
| -0% | -$3.43K |
|
|
CHX
888
DELISTED
ChampionX
CHX
| $8.76M | 0.01% |
293,940
+2,145
| +0.7% | +$62.6K |
|
889
WillScot Mobile Mini Holdings
WSC
$4.15B
| $8.7M | 0.01% |
313,028
-20,731
| -6% | -$705K |
|
890
SiteOne Landscape Supply
SITE
$4.32B
| $8.68M | 0.01% |
71,506
+4,994
| +8% | +$662K |
|
891
Zillow
ZG
$7.71B
| $8.63M | 0.01% |
129,145
-3,187
| -2% | -$236K |
|
892
Littelfuse
LFUS
$11.5B
| $8.6M | 0.01% |
43,710
-135
| -0.3% | -$30.9K |
|
893
Badger Meter
BMI
$3.93B
| $8.6M | 0.01% |
45,184
+252
| +0.6% | +$52.6K |
|
894
Hexcel
HXL
$7.6B
| $8.57M | 0.01% |
156,530
-2,519
| -2% | -$157K |
|
895
Euronet Worldwide
EEFT
$2.64B
| $8.56M | 0.01% |
80,108
-5,337
| -6% | -$541K |
|
|
JHG
896
DELISTED
Janus Henderson
JHG
| $8.53M | 0.01% |
235,968
+171
| +0.1% | +$7.05K |
|
897
SPX Corp
SPXC
$10.9B
| $8.48M | 0.01% |
65,832
-4,550
| -6% | -$652K |
|
898
Wingstop
WING
$3.03B
| $8.44M | 0.01% |
37,394
-15,525
| -29% | -$4.04M |
|
899
Q2 Holdings
QTWO
$3.95B
| $8.41M | 0.01% |
105,129
+1,021
| +1% | +$90.1K |
|
900
Rayonier
RYN
$6.45B
| $8.39M | 0.01% |
315,808
+9,886
| +3% | +$250K |
|
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.