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 |
Bristol-Myers Squibb
BMY
|
+$293M |
| 2 |
AbbVie
ABBV
|
+$215M |
| 3 |
IBM
IBM
|
+$102M |
| 4 |
Progressive
PGR
|
+$92.4M |
| 5 |
Conagra Brands
CAG
|
+$83.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard S&P 500 ETF
VOO
|
+$3.7B |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$3.19B |
| 3 |
Apple
AAPL
|
+$354M |
| 4 |
Microsoft
MSFT
|
+$316M |
| 5 |
Ecolab
ECL
|
+$268M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.72% |
| 2 | Healthcare | 15.07% |
| 3 | Financials | 12.51% |
| 4 | Consumer Discretionary | 10.05% |
| 5 | Consumer Staples | 8.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1051
Sprout Social
SPT
$600M
| $7.35M | 0.01% |
91,703
+1,309
| +1% | +$89.7K |
|
1052
Digital Turbine
APPS
$1.58B
| $7.32M | 0.01% |
167,007
-2,634
| -2% | -$119K |
|
1053
Resideo Technologies
REZI
$3.67B
| $7.3M | 0.01% |
306,346
-14,082
| -4% | -$353K |
|
1054
Opendoor
OPEN
$3.48B
| $7.29M | 0.01% |
871,044
-52,824
| -6% | -$491K |
|
1055
Ormat Technologies
ORA
$7.04B
| $7.27M | 0.01% |
88,845
+5,518
| +7% | +$404K |
|
|
AYX
1056
DELISTED
Alteryx Inc
AYX
| $7.25M | 0.01% |
101,417
-6,465
| -6% | -$382K |
|
1057
National Vision
EYE
$1.77B
| $7.25M | 0.01% |
166,356
-10,463
| -6% | -$424K |
|
1058
Pegasystems
PEGA
$5.44B
| $7.23M | 0.01% |
179,358
+1,230
| +0.7% | +$55.2K |
|
1059
FormFactor
FORM
$9.46B
| $7.23M | 0.01% |
172,019
| – | – |
|
1060
Sonos
SONO
$1.78B
| $7.2M | 0.01% |
255,120
+1,804
| +0.7% | +$47.9K |
|
1061
EnerSys
ENS
$6.79B
| $7.18M | 0.01% |
96,281
+313
| +0.3% | +$23.4K |
|
1062
Home BancShares
HOMB
$6.22B
| $7.16M | 0.01% |
316,887
+2,473
| +0.8% | +$58.5K |
|
1063
White Mountains Insurance
WTM
$5.04B
| $7.15M | 0.01% |
6,292
+100
| +2% | +$105K |
|
|
NEWR
1064
DELISTED
New Relic, Inc.
NEWR
| $7.15M | 0.01% |
106,862
-6,156
| -5% | -$504K |
|
1065
Madison Square Garden
MSGS
$9.47B
| $7.13M | 0.01% |
39,753
+1,182
| +3% | +$201K |
|
|
TMHC
1066
DELISTED
Taylor Morrison
TMHC
| $7.05M | 0.01% |
258,961
-443
| -0.2% | -$13.5K |
|
1067
CNO Financial Group
CNO
$5.05B
| $7.04M | 0.01% |
280,447
-10,450
| -4% | -$259K |
|
1068
Full Truck Alliance
YMM
$9.7B
| $7.02M | 0.01% |
+1,052,028
| New | +$8.51M |
|
1069
Sabra Healthcare REIT
SBRA
$5.07B
| $7.01M | 0.01% |
471,005
-24,739
| -5% | -$338K |
|
1070
SM Energy
SM
$7.73B
| $7M | 0.01% |
+179,777
| New | +$6.48M |
|
1071
Neogen
NEOG
$2.51B
| $6.97M | 0.01% |
226,110
-8,538
| -4% | -$307K |
|
1072
Alarm.com
ALRM
$2.77B
| $6.96M | 0.01% |
104,764
| – | – |
|
1073
Brink's
BCO
$4.69B
| $6.93M | 0.01% |
101,944
-4,284
| -4% | -$293K |
|
1074
Wendy's
WEN
$1.44B
| $6.91M | 0.01% |
314,346
-46,663
| -13% | -$1.05M |
|
|
PDCE
1075
DELISTED
PDC Energy, Inc.
PDCE
| $6.9M | 0.01% |
+94,913
| New | +$5.87M |
|
Similar funds
California Public Employees Retirement System's Q1 2022 Portfolio in Review
As of Q1 2022, California Public Employees Retirement System held 1,285 positions worth $129B, down 14% from $149B the previous quarter. Its ten largest holdings account for 21% of the portfolio.
California Public Employees Retirement System withdrew a net $13.5B in Q1 2022, closing 58 positions and reducing 994 holdings. Its most notable exit was Vanguard S&P 500 ETF, an estimated $3.7B position sold in full.
By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 24% a quarter earlier, followed by Healthcare and Financials.
Against the trend, California Public Employees Retirement System opened a new position in Constellation Energy worth $37.2M.
- California Public Employees Retirement System's largest Q1 2022 buy was Constellation Energy: 661,906 shares worth $37.2M.
- California Public Employees Retirement System added most to Bristol-Myers Squibb in Q1 2022, an estimated $293M increase.
- California Public Employees Retirement System's biggest Q1 2022 reduction was Apple, cutting an estimated $354M.
- California Public Employees Retirement System fully exited Vanguard S&P 500 ETF in Q1 2022, selling an estimated $3.7B.
- California Public Employees Retirement System's ten largest holdings make up 21% of its $129B portfolio in Q1 2022.
- California Public Employees Retirement System opened 48 new positions and closed 58 in Q1 2022.
- California Public Employees Retirement System's portfolio value fell 14% quarter-over-quarter to $129B.
Based on California Public Employees Retirement System's 13F filing for Q1 2022, filed 4 May 2022.