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 | |
|---|---|---|---|---|---|---|
|
AMWD
1551
DELISTED
American Woodmark
AMWD
| $3.73M | 0.01% |
28,622
-2,182
| -7% | -$229K |
|
1552
Lithia Motors
LAD
$8.35B
| $3.72M | 0.01% |
32,777
+2,745
| +9% | +$319K |
|
1553
Cogent Communications
CCOI
$528M
| $3.71M | 0.01% |
81,995
-1,767
| -2% | -$84.2K |
|
|
AXON
1554
Axon Enterprise
AXON
$48.4B
| $3.71M | 0.01% |
140,100
+2,300
| +2% | +$55.2K |
|
1555
Forward Air
FWRD
$634M
| $3.71M | 0.01% |
64,650
+5,132
| +9% | +$294K |
|
1556
Adtran
ADTN
$622M
| $3.71M | 0.01% |
191,454
+3,540
| +2% | +$78.6K |
|
|
GTLS
1557
DELISTED
Chart Industries
GTLS
| $3.7M | 0.01% |
78,934
-2,066
| -3% | -$92.2K |
|
1558
Radware
RDWR
$1.2B
| $3.69M | 0.01% |
190,400
+1,800
| +1% | +$34.1K |
|
1559
Globus Medical
GMED
$11.7B
| $3.68M | 0.01% |
89,605
+11,253
| +14% | +$394K |
|
|
BPFH
1560
DELISTED
Boston Private Financial Holdings, Inc.
BPFH
| $3.68M | 0.01% |
238,206
+13,280
| +6% | +$212K |
|
1561
ABM Industries
ABM
$2.81B
| $3.68M | 0.01% |
97,444
+6,427
| +7% | +$266K |
|
1562
Adeia
ADEA
$3.07B
| $3.66M | ﹤0.01% |
567,023
+11,703
| +2% | +$68.7K |
|
|
AHT
1563
Ashford Hospitality Trust
AHT
$20.7M
| $3.66M | ﹤0.01% |
550
+2
| +0.4% | +$13.2K |
|
1564
Inogen
INGN
$163M
| $3.65M | ﹤0.01% |
30,678
+4,180
| +16% | +$460K |
|
|
MDC
1565
DELISTED
M.D.C. Holdings, Inc.
MDC
| $3.65M | ﹤0.01% |
133,651
+2,267
| +2% | +$62.5K |
|
|
DOC
1566
DELISTED
PHYSICIANS REALTY TRUST
DOC
| $3.65M | ﹤0.01% |
202,794
+10,486
| +5% | +$188K |
|
|
TGE
1567
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
| $3.63M | ﹤0.01% |
141,000
+2,600
| +2% | +$65.1K |
|
|
RWT
1568
Redwood Trust
RWT
$574M
| $3.63M | ﹤0.01% |
244,813
+28,087
| +13% | +$435K |
|
1569
NBT Bancorp
NBTB
$2.73B
| $3.63M | ﹤0.01% |
98,544
+7,364
| +8% | +$278K |
|
1570
Strategic Education
STRA
$1.84B
| $3.62M | ﹤0.01% |
40,402
-599
| -1% | -$55.3K |
|
1571
Korn Ferry
KFY
$4.25B
| $3.61M | ﹤0.01% |
87,309
-10,304
| -11% | -$427K |
|
|
DYN
1572
DELISTED
Dynegy, Inc.
DYN
| $3.61M | ﹤0.01% |
304,841
+11,284
| +4% | +$126K |
|
|
LTC
1573
LTC Properties
LTC
$2.12B
| $3.61M | ﹤0.01% |
82,924
+2,660
| +3% | +$123K |
|
|
ADAM
1574
Adamas Trust
ADAM
$880M
| $3.61M | ﹤0.01% |
146,275
+8,961
| +7% | +$225K |
|
|
PEGI
1575
DELISTED
Pattern Energy Group Inc. Class A
PEGI
| $3.61M | ﹤0.01% |
167,995
+4,817
| +3% | +$108K |
|
Similar funds
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.