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 |
Gilead Sciences
GILD
|
+$473M |
| 2 |
Vertex Pharmaceuticals
VRTX
|
+$433M |
| 3 |
Regeneron Pharmaceuticals
REGN
|
+$371M |
| 4 |
Adobe
ADBE
|
+$284M |
| 5 |
RTX Corp
RTX
|
+$200M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$316M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$139M |
| 3 |
Sysco
SYY
|
+$139M |
| 4 |
AGN
Allergan plc
AGN
|
+$134M |
| 5 |
Welltower
WELL
|
+$117M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.95% |
| 2 | Healthcare | 14.53% |
| 3 | Financials | 12.82% |
| 4 | Consumer Discretionary | 10.64% |
| 5 | Consumer Staples | 8.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1376
Fluor
FLR
$7B
| $3.77M | ﹤0.01% |
311,710
-1,400
| -0.4% | -$14.7K |
|
|
NKLA
1377
DELISTED
Nikola Corporation Common Stock
NKLA
| $3.77M | ﹤0.01% |
1,858
+1,305
| +236% | +$1.26M |
|
1378
APi Group
APG
$18.8B
| $3.76M | ﹤0.01% |
+464,672
| New | +$3.52M |
|
1379
Shake Shack
SHAK
$2.98B
| $3.76M | ﹤0.01% |
71,000
+6,478
| +10% | +$328K |
|
|
BIG
1380
DELISTED
Big Lots, Inc.
BIG
| $3.76M | ﹤0.01% |
89,440
+2,668
| +3% | +$75.7K |
|
|
SEM
1381
DELISTED
Select Medical
SEM
| $3.75M | ﹤0.01% |
473,113
+6,203
| +1% | +$51.4K |
|
|
CZZ
1382
DELISTED
Cosan Limited
CZZ
| $3.75M | ﹤0.01% |
249,199
-6,336
| -2% | -$83K |
|
1383
uniQure
QURE
$3.26B
| $3.75M | ﹤0.01% |
83,195
+5,795
| +7% | +$342K |
|
1384
Appian
APPN
$2.65B
| $3.75M | ﹤0.01% |
73,109
-2,695
| -4% | -$131K |
|
|
PPD
1385
DELISTED
PPD, Inc. Common Stock
PPD
| $3.74M | ﹤0.01% |
+139,462
| New | +$3.48M |
|
1386
Under Armour
UAA
$2.3B
| $3.73M | ﹤0.01% |
383,200
-1,700
| -0.4% | -$16.1K |
|
1387
Silicon Motion
SIMO
$8.45B
| $3.73M | ﹤0.01% |
76,421
-5,720
| -7% | -$253K |
|
|
MDLA
1388
DELISTED
Medallia, Inc.
MDLA
| $3.73M | ﹤0.01% |
147,600
+115,200
| +356% | +$2.75M |
|
1389
Moog Inc Class A
MOG.A
$13.5B
| $3.71M | ﹤0.01% |
70,045
-69
| -0.1% | -$3.54K |
|
1390
Jack in the Box
JACK
$358M
| $3.71M | ﹤0.01% |
50,072
-1,983
| -4% | -$122K |
|
1391
Copa Holdings
CPA
$6.17B
| $3.71M | ﹤0.01% |
73,359
+2,180
| +3% | +$101K |
|
1392
Hilton Grand Vacations
HGV
$3.49B
| $3.71M | ﹤0.01% |
189,740
-2,032
| -1% | -$40.1K |
|
1393
Compass Minerals
CMP
$1.1B
| $3.7M | ﹤0.01% |
75,989
+7
| +0% | +$325 |
|
1394
American Eagle Outfitters
AEO
$2.73B
| $3.7M | ﹤0.01% |
339,570
-15,061
| -4% | -$142K |
|
1395
World Kinect Corp
WKC
$1.9B
| $3.7M | ﹤0.01% |
143,521
-3,285
| -2% | -$80.8K |
|
1396
PennyMac Financial
PFSI
$4.13B
| $3.69M | ﹤0.01% |
88,396
+30,981
| +54% | +$981K |
|
1397
Cavco Industries
CVCO
$4.67B
| $3.69M | ﹤0.01% |
19,139
-100
| -0.5% | -$16.4K |
|
|
VISN
1398
Vistance Networks Inc
VISN
$2.62B
| $3.69M | ﹤0.01% |
443,014
+8,771
| +2% | +$86.6K |
|
1399
Minerals Technologies
MTX
$2.26B
| $3.69M | ﹤0.01% |
78,587
-955
| -1% | -$41.8K |
|
|
DRNA
1400
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
| $3.68M | ﹤0.01% |
144,990
+27,615
| +24% | +$595K |
|
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California Public Employees Retirement System's Q2 2020 Portfolio in Review
As of Q2 2020, California Public Employees Retirement System held 3,550 positions worth $101B, up 23% from $82.6B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
California Public Employees Retirement System deployed $3.3B of net new capital in Q2 2020, opening 169 new positions and adding to 1,761 existing holdings. Its largest new stake was RTX Corp: 3,200,810 shares worth $197M.
By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 20% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was Apple, an estimated $316M trimmed.
- California Public Employees Retirement System's largest Q2 2020 buy was RTX Corp: 3,200,810 shares worth $197M.
- California Public Employees Retirement System added most to Gilead Sciences in Q2 2020, an estimated $473M increase.
- California Public Employees Retirement System's biggest Q2 2020 reduction was Apple, cutting an estimated $316M.
- California Public Employees Retirement System fully exited Allergan plc in Q2 2020, selling an estimated $134M.
- California Public Employees Retirement System's ten largest holdings make up 18% of its $101B portfolio in Q2 2020.
- California Public Employees Retirement System opened 169 new positions and closed 43 in Q2 2020.
- California Public Employees Retirement System's portfolio value rose 23% quarter-over-quarter to $101B.
Based on California Public Employees Retirement System's 13F filing for Q2 2020, filed 12 Aug 2020.