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
|
+$386M |
| 2 |
Amazon
AMZN
|
+$108M |
| 3 |
iShares Core S&P 500 ETF
IVV
|
+$96.6M |
| 4 |
Unilever
UL
|
+$80.9M |
| 5 |
Alibaba
BABA
|
+$80.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$349M |
| 2 |
BCR
CR Bard Inc.
BCR
|
+$61.1M |
| 3 |
Apple
AAPL
|
+$37.1M |
| 4 |
LVLT
Level 3 Communications Inc
LVLT
|
+$32.4M |
| 5 |
BRCD
Brocade Communications Systems, Inc. NEW
BRCD
|
+$17.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.92% |
| 2 | Technology | 15.57% |
| 3 | Healthcare | 12.62% |
| 4 | Industrials | 10.77% |
| 5 | Consumer Discretionary | 10.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
MDRX
1101
DELISTED
Veradigm Inc. Common Stock
MDRX
| $7.55M | 0.01% |
518,727
+12,699
| +3% | +$176K |
|
|
MNK
1102
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $7.5M | 0.01% |
332,306
+68,336
| +26% | +$1.83M |
|
|
KND
1103
DELISTED
Kindred Healthcare
KND
| $7.49M | 0.01% |
772,396
+20,434
| +3% | +$152K |
|
1104
Dillards
DDS
$9.56B
| $7.49M | 0.01% |
124,752
+6,219
| +5% | +$345K |
|
|
EEP
1105
DELISTED
Enbridge Energy Partners
EEP
| $7.49M | 0.01% |
542,136
+19,100
| +4% | +$278K |
|
1106
ACI Worldwide
ACIW
$5.42B
| $7.45M | 0.01% |
328,718
+3,082
| +0.9% | +$71.6K |
|
|
SAFM
1107
DELISTED
Sanderson Farms Inc
SAFM
| $7.45M | 0.01% |
53,689
+2,344
| +5% | +$362K |
|
1108
COPT Defense Properties
CDP
$4.21B
| $7.45M | 0.01% |
254,999
+2,805
| +1% | +$88K |
|
|
GNCMA
1109
DELISTED
GCI Liberty, Inc. Class A-1 Common Stock
GNCMA
| $7.44M | 0.01% |
190,656
-13,955
| -7% | -$569K |
|
|
GWR
1110
DELISTED
Genesee & Wyoming Inc.
GWR
| $7.43M | 0.01% |
94,390
+3,500
| +4% | +$261K |
|
1111
LendingTree
TREE
$451M
| $7.42M | 0.01% |
21,804
+565
| +3% | +$160K |
|
1112
Diamondrock Hospitality Co
DRH
$2.56B
| $7.42M | 0.01% |
657,085
+47,809
| +8% | +$532K |
|
1113
Selective Insurance
SIGI
$5.73B
| $7.4M | 0.01% |
126,047
+11,853
| +10% | +$686K |
|
1114
Five Below
FIVE
$13.5B
| $7.38M | 0.01% |
111,342
+8,972
| +9% | +$539K |
|
1115
Choice Hotels
CHH
$4.8B
| $7.38M | 0.01% |
95,047
-2,151
| -2% | -$157K |
|
1116
LXP Industrial Trust
LXP
$3.57B
| $7.36M | 0.01% |
152,490
+4,812
| +3% | +$247K |
|
1117
Valley National Bancorp
VLY
$8.04B
| $7.35M | 0.01% |
654,936
+26,518
| +4% | +$307K |
|
|
EE
1118
DELISTED
El Paso Electric Company
EE
| $7.33M | 0.01% |
132,466
+6,582
| +5% | +$382K |
|
|
STL
1119
DELISTED
Sterling Bancorp
STL
| $7.33M | 0.01% |
297,758
+146,857
| +97% | +$3.64M |
|
|
PGRE
1120
DELISTED
Paramount Group
PGRE
| $7.32M | 0.01% |
461,761
+52,904
| +13% | +$848K |
|
|
AXE
1121
DELISTED
Anixter International Inc
AXE
| $7.3M | 0.01% |
96,121
+3,195
| +3% | +$235K |
|
|
MBFI
1122
DELISTED
MB Financial Corp
MBFI
| $7.3M | 0.01% |
163,884
+12,050
| +8% | +$544K |
|
|
HR
1123
DELISTED
Healthcare Realty Trust Incorporated
HR
| $7.29M | 0.01% |
226,834
+18,273
| +9% | +$593K |
|
|
CVA
1124
DELISTED
Covanta Holding Corporation
CVA
| $7.28M | 0.01% |
430,492
+5,203
| +1% | +$80.3K |
|
1125
Belden
BDC
$5.19B
| $7.24M | 0.01% |
93,859
+9,217
| +11% | +$762K |
|
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California Public Employees Retirement System's Q4 2017 Portfolio in Review
As of Q4 2017, California Public Employees Retirement System held 3,413 positions worth $74B, up 9.9% from $67.3B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
California Public Employees Retirement System deployed $2.61B of net new capital in Q4 2017, opening 69 new positions and adding to 1,867 existing holdings. Its largest new stake was Unilever: 1,276,444 shares worth $79.5M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 18% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $349M trimmed.
- California Public Employees Retirement System's largest Q4 2017 buy was Unilever: 1,276,444 shares worth $79.5M.
- California Public Employees Retirement System added most to Alphabet (Google) Class A in Q4 2017, an estimated $386M increase.
- California Public Employees Retirement System's biggest Q4 2017 reduction was Alphabet (Google) Class C, cutting an estimated $349M.
- California Public Employees Retirement System fully exited CR Bard Inc. in Q4 2017, selling an estimated $61.1M.
- California Public Employees Retirement System's ten largest holdings make up 15% of its $74B portfolio in Q4 2017.
- California Public Employees Retirement System opened 69 new positions and closed 96 in Q4 2017.
- California Public Employees Retirement System's portfolio value rose 9.9% quarter-over-quarter to $74B.
Based on California Public Employees Retirement System's 13F filing for Q4 2017, filed 6 Feb 2018.