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 | |
|---|---|---|---|---|---|---|
1401
OneMain Financial
OMF
$7.51B
| $3.68M | ﹤0.01% |
149,945
+1,180
| +0.8% | +$26.9K |
|
1402
Tenable Holdings
TENB
$4.41B
| $3.67M | ﹤0.01% |
123,200
+46,400
| +60% | +$1.26M |
|
1403
Moelis & Co
MC
$5.21B
| $3.67M | ﹤0.01% |
117,739
+8,727
| +8% | +$274K |
|
1404
CNX Resources
CNX
$5.23B
| $3.66M | ﹤0.01% |
422,969
+4,619
| +1% | +$46.5K |
|
1405
Editas Medicine
EDIT
$432M
| $3.66M | ﹤0.01% |
123,602
+8,407
| +7% | +$220K |
|
1406
Ironwood Pharmaceuticals
IRWD
$674M
| $3.64M | ﹤0.01% |
353,005
+5,735
| +2% | +$58.7K |
|
1407
Yelp
YELP
$1.32B
| $3.63M | ﹤0.01% |
157,162
+3,467
| +2% | +$75.6K |
|
1408
CareTrust REIT
CTRE
$9.18B
| $3.63M | ﹤0.01% |
211,675
-767
| -0.4% | -$13.4K |
|
1409
Texas Capital Bancshares
TCBI
$4.38B
| $3.63M | ﹤0.01% |
117,597
+2,496
| +2% | +$69.9K |
|
|
HTO
1410
H2O America
HTO
$2.65B
| $3.63M | ﹤0.01% |
58,425
-641
| -1% | -$38.5K |
|
|
CVSA
1411
Covista Inc
CVSA
$4.49B
| $3.63M | ﹤0.01% |
116,396
-2,381
| -2% | -$74.3K |
|
1412
MACOM Technology Solutions
MTSI
$23.5B
| $3.62M | ﹤0.01% |
105,457
+3,254
| +3% | +$95.1K |
|
1413
Corcept Therapeutics
CORT
$11.9B
| $3.62M | ﹤0.01% |
214,944
+1,748
| +0.8% | +$24.6K |
|
|
CALY
1414
Callaway Golf Company
CALY
$2.95B
| $3.61M | ﹤0.01% |
206,377
-1,589
| -0.8% | -$22.1K |
|
|
TERP
1415
DELISTED
TerraForm Power, Inc
TERP
| $3.61M | ﹤0.01% |
195,997
+14,479
| +8% | +$256K |
|
1416
Adeia
ADEA
$3.16B
| $3.61M | ﹤0.01% |
925,159
+504,078
| +120% | +$1.91M |
|
|
RPAI
1417
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $3.61M | ﹤0.01% |
493,566
+16,265
| +3% | +$93.7K |
|
1418
RLJ Lodging Trust
RLJ
$1.67B
| $3.61M | ﹤0.01% |
382,021
-9,959
| -3% | -$93.1K |
|
1419
Commault Systems
CVLT
$6.26B
| $3.6M | ﹤0.01% |
93,008
+143
| +0.2% | +$5.67K |
|
1420
Onto Innovation
ONTO
$20.6B
| $3.58M | ﹤0.01% |
105,038
-2,168
| -2% | -$70.5K |
|
1421
Ligand Pharmaceuticals
LGND
$5.76B
| $3.57M | ﹤0.01% |
51,173
-9,962
| -16% | -$632K |
|
|
TRTN
1422
DELISTED
Triton International Limited
TRTN
| $3.57M | ﹤0.01% |
118,051
-4,304
| -4% | -$128K |
|
|
FLOW
1423
DELISTED
SPX FLOW, Inc.
FLOW
| $3.57M | ﹤0.01% |
95,262
+231
| +0.2% | +$7.53K |
|
1424
Ameris Bancorp
ABCB
$6B
| $3.57M | ﹤0.01% |
151,172
+15,122
| +11% | +$355K |
|
|
CVET
1425
DELISTED
Covetrus, Inc. Common Stock
CVET
| $3.55M | ﹤0.01% |
198,600
-18,068
| -8% | -$237K |
|
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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.