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 |
Apple
AAPL
|
+$1.15B |
| 2 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$524M |
| 3 |
Microsoft
MSFT
|
+$397M |
| 4 |
JPMorgan Chase
JPM
|
+$213M |
| 5 |
Amazon
AMZN
|
+$211M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$275M |
| 2 |
Eli Lilly
LLY
|
+$159M |
| 3 |
NextEra Energy
NEE
|
+$154M |
| 4 |
Accenture
ACN
|
+$115M |
| 5 |
Cisco
CSCO
|
+$110M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.75% |
| 2 | Healthcare | 16.96% |
| 3 | Financials | 12.95% |
| 4 | Consumer Staples | 8.84% |
| 5 | Consumer Discretionary | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1126
Peloton Interactive
PTON
$2.42B
| $4.44M | ﹤0.01% |
559,226
-56,878
| -9% | -$546K |
|
1127
Independent Bank
INDB
$3.97B
| $4.42M | ﹤0.01% |
52,315
+5,576
| +12% | +$473K |
|
1128
Frontdoor
FTDR
$5.78B
| $4.41M | ﹤0.01% |
211,864
+5,536
| +3% | +$122K |
|
1129
FormFactor
FORM
$8.79B
| $4.32M | ﹤0.01% |
194,367
+2,923
| +2% | +$68.1K |
|
1130
Applied Industrial Technologies
AIT
$13.2B
| $4.29M | ﹤0.01% |
34,044
+19,333
| +131% | +$2.37M |
|
1131
Viasat
VSAT
$11.7B
| $4.29M | ﹤0.01% |
135,541
-5,877
| -4% | -$206K |
|
1132
Bread Financial
BFH
$4.38B
| $4.28M | ﹤0.01% |
113,595
-1,803
| -2% | -$65.1K |
|
|
CD
1133
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
| $4.27M | ﹤0.01% |
536,066
+723
| +0.1% | +$5.06K |
|
1134
Sonos
SONO
$1.83B
| $4.22M | ﹤0.01% |
249,623
-32,087
| -11% | -$522K |
|
1135
Zillow
ZG
$7.66B
| $4.22M | ﹤0.01% |
135,082
-776
| -0.6% | -$25.4K |
|
1136
TripAdvisor
TRIP
$1.26B
| $4.2M | ﹤0.01% |
233,863
-12,395
| -5% | -$259K |
|
1137
PagerDuty
PD
$916M
| $4.19M | ﹤0.01% |
157,755
-17,225
| -10% | -$407K |
|
1138
Semtech
SMTC
$12.2B
| $4.15M | ﹤0.01% |
144,792
-9,257
| -6% | -$263K |
|
1139
Applovin
APP
$113B
| $4.14M | ﹤0.01% |
393,084
-60,432
| -13% | -$886K |
|
1140
RXO
RXO
$3.52B
| $4.09M | ﹤0.01% |
+237,804
| New | +$4.22M |
|
1141
Kyndryl
KD
$2.97B
| $4.06M | ﹤0.01% |
365,430
-37,267
| -9% | -$375K |
|
1142
Xerox
XRX
$427M
| $4.03M | ﹤0.01% |
275,780
-9,511
| -3% | -$143K |
|
|
ETRN
1143
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $4.02M | ﹤0.01% |
600,307
+89,040
| +17% | +$691K |
|
1144
Autohome
ATHM
$2.71B
| $4.01M | ﹤0.01% |
131,196
-3,512
| -3% | -$104K |
|
|
AZEK
1145
DELISTED
The AZEK Co
AZEK
| $3.97M | ﹤0.01% |
195,260
-39,883
| -17% | -$738K |
|
|
JWN
1146
DELISTED
Nordstrom
JWN
| $3.95M | ﹤0.01% |
244,658
-16,086
| -6% | -$308K |
|
1147
AMC Entertainment Holdings
AMC
$2.16B
| $3.89M | ﹤0.01% |
95,614
-11,291
| -11% | -$712K |
|
|
GAP
1148
The Gap Inc
GAP
$7.74B
| $3.85M | ﹤0.01% |
341,577
-83,097
| -20% | -$994K |
|
1149
Neogen
NEOG
$2.49B
| $3.82M | ﹤0.01% |
250,520
-32,449
| -11% | -$462K |
|
1150
ScottsMiracle-Gro
SMG
$3.63B
| $3.8M | ﹤0.01% |
78,232
-9,190
| -11% | -$460K |
|
Similar funds
California Public Employees Retirement System's Q4 2022 Portfolio in Review
As of Q4 2022, California Public Employees Retirement System held 1,231 positions worth $117B, up 7.9% from $109B the previous quarter. Its ten largest holdings account for 20% of the portfolio.
Trading was light in Q4 2022: portfolio turnover was 1.9%. California Public Employees Retirement System opened 9 new positions and exited 14, leaving the 1,231-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 23% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q4 2022 buy was State Street Financial Select Sector SPDR ETF: 15,500,000 shares worth $530M.
- California Public Employees Retirement System added most to Apple in Q4 2022, an estimated $1.15B increase.
- California Public Employees Retirement System's biggest Q4 2022 reduction was Walmart Inc, cutting an estimated $275M.
- California Public Employees Retirement System fully exited Citrix Systems Inc in Q4 2022, selling an estimated $98M.
- California Public Employees Retirement System's ten largest holdings make up 20% of its $117B portfolio in Q4 2022.
- California Public Employees Retirement System opened 9 new positions and closed 14 in Q4 2022.
- California Public Employees Retirement System's portfolio value rose 7.9% quarter-over-quarter to $117B.
Based on California Public Employees Retirement System's 13F filing for Q4 2022, filed 8 Feb 2023.