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 |
Coca-Cola
KO
|
+$94.3M |
| 2 |
PepsiCo
PEP
|
+$74.5M |
| 3 |
Accenture
ACN
|
+$67.4M |
| 4 |
Lockheed Martin
LMT
|
+$62M |
| 5 |
Simon Property Group
SPG
|
+$53.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$145M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$94.2M |
| 3 |
Apple
AAPL
|
+$92.6M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$91.9M |
| 5 |
Meta Platforms (Facebook)
META
|
+$72.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.47% |
| 2 | Financials | 17.02% |
| 3 | Healthcare | 13.67% |
| 4 | Consumer Discretionary | 10.35% |
| 5 | Industrials | 10.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Southern Company
SO
$107B
| $159M | 0.21% |
3,657,829
+700,216
| +24% | +$32.3M |
|
102
Becton Dickinson
BDX
$48.2B
| $158M | 0.2% |
619,986
-42,209
| -6% | -$10.4M |
|
103
United Parcel Service
UPS
$88.9B
| $158M | 0.2% |
1,350,435
-182,238
| -12% | -$21.4M |
|
|
WBA
104
DELISTED
Walgreens Boots Alliance
WBA
| $157M | 0.2% |
2,148,448
-155,469
| -7% | -$10.6M |
|
105
Occidental Petroleum
OXY
$55.9B
| $157M | 0.2% |
1,905,663
+51,837
| +3% | +$4.19M |
|
|
MRSH
106
Marsh
MRSH
$91.5B
| $156M | 0.2% |
1,889,762
+236,983
| +14% | +$20.1M |
|
107
EOG Resources
EOG
$70.7B
| $155M | 0.2% |
1,217,603
+59,812
| +5% | +$7.27M |
|
108
HCA Healthcare
HCA
$89.5B
| $154M | 0.2% |
1,103,606
+91,792
| +9% | +$11.4M |
|
109
Phillips 66
PSX
$81.4B
| $153M | 0.2% |
1,353,431
+171,556
| +15% | +$19.8M |
|
110
Baxter International
BAX
$14.2B
| $152M | 0.2% |
1,976,555
+157,977
| +9% | +$11.7M |
|
111
Allstate
ALL
$67.5B
| $152M | 0.2% |
1,536,483
+279,368
| +22% | +$27.2M |
|
112
Aflac
AFL
$62.6B
| $151M | 0.19% |
3,212,083
+463,231
| +17% | +$21.2M |
|
|
CELG
113
DELISTED
Celgene Corp
CELG
| $146M | 0.19% |
1,631,202
-126,316
| -7% | -$11.2M |
|
114
Ecolab
ECL
$79.9B
| $144M | 0.19% |
920,967
+152,866
| +20% | +$22.7M |
|
|
ESRX
115
DELISTED
Express Scripts Holding Company
ESRX
| $142M | 0.18% |
1,491,487
-82,847
| -5% | -$7.06M |
|
116
Fidelity National Information Services
FIS
$22.1B
| $142M | 0.18% |
1,298,214
+217,919
| +20% | +$23.5M |
|
117
Sysco
SYY
$40.3B
| $141M | 0.18% |
1,923,651
+267,315
| +16% | +$19.3M |
|
118
Dominion Energy
D
$59.3B
| $140M | 0.18% |
1,991,388
+340,427
| +21% | +$24.1M |
|
119
FedEx
FDX
$75.4B
| $139M | 0.18% |
577,481
-41,144
| -7% | -$9.96M |
|
120
Aon
AON
$76B
| $139M | 0.18% |
902,883
+83,753
| +10% | +$12.2M |
|
121
Morgan Stanley
MS
$340B
| $138M | 0.18% |
2,968,098
-176,248
| -6% | -$8.61M |
|
122
Ross Stores
ROST
$81.9B
| $138M | 0.18% |
1,389,823
+132,877
| +11% | +$12.2M |
|
123
Kimberly-Clark
KMB
$36.5B
| $136M | 0.18% |
1,196,910
+131,896
| +12% | +$14.8M |
|
124
Valero Energy
VLO
$85.9B
| $135M | 0.17% |
1,184,072
+9,459
| +0.8% | +$1.07M |
|
125
Travelers Companies
TRV
$80.2B
| $134M | 0.17% |
1,031,950
+145,915
| +16% | +$18.8M |
|
Similar funds
California Public Employees Retirement System's Q3 2018 Portfolio in Review
As of Q3 2018, California Public Employees Retirement System held 3,359 positions worth $77.6B, up 7.3% from $72.3B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Trading was light in Q3 2018: portfolio turnover was 4.1%. California Public Employees Retirement System opened 70 new positions and exited 69, leaving the 3,359-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- California Public Employees Retirement System's largest Q3 2018 buy was Veoneer, Inc.: 151,840 shares worth $8.36M.
- California Public Employees Retirement System added most to Coca-Cola in Q3 2018, an estimated $94.3M increase.
- California Public Employees Retirement System's biggest Q3 2018 reduction was JPMorgan Chase, cutting an estimated $145M.
- California Public Employees Retirement System fully exited XL Group Ltd. in Q3 2018, selling an estimated $35.7M.
- California Public Employees Retirement System's ten largest holdings make up 15% of its $77.6B portfolio in Q3 2018.
- California Public Employees Retirement System opened 70 new positions and closed 69 in Q3 2018.
- California Public Employees Retirement System's portfolio value rose 7.3% quarter-over-quarter to $77.6B.
Based on California Public Employees Retirement System's 13F filing for Q3 2018, filed 13 Nov 2018.