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 |
Alphabet (Google) Class A
GOOGL
|
+$185M |
| 2 |
Apple
AAPL
|
+$145M |
| 3 |
Accenture
ACN
|
+$134M |
| 4 |
ON Semiconductor
ON
|
+$107M |
| 5 |
MSCI
MSCI
|
+$105M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$1.41B |
| 2 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$505M |
| 3 |
Costco
COST
|
+$387M |
| 4 |
Home Depot
HD
|
+$345M |
| 5 |
PepsiCo
PEP
|
+$258M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.66% |
| 2 | Healthcare | 12.78% |
| 3 | Financials | 12.09% |
| 4 | Consumer Discretionary | 9.4% |
| 5 | Communication Services | 7.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
901
UGI
UGI
$7.29B
| $9.23M | 0.01% |
403,040
+24,618
| +7% | +$596K |
|
902
GATX Corp
GATX
$6.23B
| $9.22M | 0.01% |
69,632
-3,120
| -4% | -$411K |
|
903
Thor Industries
THO
$4.14B
| $9.17M | 0.01% |
98,111
+765
| +0.8% | +$76.5K |
|
904
Assured Guaranty
AGO
$3.34B
| $9.16M | 0.01% |
118,691
+1,954
| +2% | +$153K |
|
905
Dentsply Sirona
XRAY
$2.32B
| $9.15M | 0.01% |
367,198
-15,598
| -4% | -$447K |
|
906
Aaon
AAON
$7.31B
| $9.13M | 0.01% |
104,662
+8,425
| +9% | +$687K |
|
907
Lyft
LYFT
$6.53B
| $9.11M | 0.01% |
645,793
+162,975
| +34% | +$2.65M |
|
|
BPMC
908
DELISTED
Blueprint Medicines
BPMC
| $9.04M | 0.01% |
83,904
-4,821
| -5% | -$483K |
|
|
GAP
909
The Gap Inc
GAP
$7.74B
| $9.02M | 0.01% |
377,411
+31,266
| +9% | +$727K |
|
910
Vipshop
VIPS
$7.4B
| $9.01M | 0.01% |
691,983
+89,865
| +15% | +$1.43M |
|
911
Invesco
IVZ
$14B
| $9M | 0.01% |
601,788
-32,008
| -5% | -$492K |
|
912
Ashland
ASH
$3.45B
| $9M | 0.01% |
95,231
+6,948
| +8% | +$675K |
|
913
Vornado Realty Trust
VNO
$7.26B
| $8.99M | 0.01% |
342,051
+21,835
| +7% | +$559K |
|
914
Old National Bancorp
ONB
$10.1B
| $8.98M | 0.01% |
522,561
+15,163
| +3% | +$252K |
|
915
FormFactor
FORM
$8.79B
| $8.98M | 0.01% |
148,400
-1,730
| -1% | -$90.2K |
|
|
AL
916
DELISTED
Air Lease Corp
AL
| $8.97M | 0.01% |
188,820
-4,929
| -3% | -$240K |
|
917
Sonoco
SON
$5.72B
| $8.91M | 0.01% |
175,626
-3,179
| -2% | -$184K |
|
|
CADE
918
DELISTED
Cadence Bank
CADE
| $8.89M | 0.01% |
314,435
-20,805
| -6% | -$585K |
|
919
Bank OZK
OZK
$5.63B
| $8.84M | 0.01% |
215,675
+3,875
| +2% | +$169K |
|
920
Lincoln National
LNC
$8.75B
| $8.82M | 0.01% |
283,591
-7,130
| -2% | -$216K |
|
921
Glaukos
GKOS
$10.7B
| $8.77M | 0.01% |
74,081
-2,723
| -4% | -$289K |
|
922
SLM Corp
SLM
$5.14B
| $8.75M | 0.01% |
420,709
+986
| +0.2% | +$20.8K |
|
923
Alaska Air
ALK
$5.27B
| $8.71M | 0.01% |
215,611
+41,056
| +24% | +$1.74M |
|
924
EXL Service
EXLS
$5.32B
| $8.7M | 0.01% |
277,361
-9,606
| -3% | -$288K |
|
925
Organon & Co
OGN
$3.58B
| $8.69M | 0.01% |
419,986
-39,174
| -9% | -$779K |
|
Similar funds
California Public Employees Retirement System's Q2 2024 Portfolio in Review
As of Q2 2024, California Public Employees Retirement System held 1,172 positions worth $136B, down 4.1% from $142B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
California Public Employees Retirement System withdrew a net $10B in Q2 2024, closing 5 positions and reducing 702 holdings. Its most notable exit was State Street Financial Select Sector SPDR ETF, an estimated $505M position sold in full.
By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 31% a quarter earlier, followed by Healthcare and Financials.
Against the trend, California Public Employees Retirement System opened a new position in GE Vernova worth $82.1M.
- California Public Employees Retirement System's largest Q2 2024 buy was GE Vernova: 478,888 shares worth $82.1M.
- California Public Employees Retirement System added most to Alphabet (Google) Class A in Q2 2024, an estimated $185M increase.
- California Public Employees Retirement System's biggest Q2 2024 reduction was NVIDIA, cutting an estimated $1.41B.
- California Public Employees Retirement System fully exited State Street Financial Select Sector SPDR ETF in Q2 2024, selling an estimated $505M.
- California Public Employees Retirement System's ten largest holdings make up 30% of its $136B portfolio in Q2 2024.
- California Public Employees Retirement System opened 3 new positions and closed 5 in Q2 2024.
- California Public Employees Retirement System's portfolio value fell 4.1% quarter-over-quarter to $136B.
Based on California Public Employees Retirement System's 13F filing for Q2 2024, filed 14 Aug 2024.