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
|
+$200M |
| 2 |
PepsiCo
PEP
|
+$180M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$157M |
| 4 |
Linde
LIN
|
+$156M |
| 5 |
Procter & Gamble
PG
|
+$152M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$235M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$180M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$142M |
| 4 |
PX
Praxair Inc
PX
|
+$92.8M |
| 5 |
COL
Rockwell Collins
COL
|
+$81.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.4% |
| 2 | Technology | 16.18% |
| 3 | Healthcare | 14.24% |
| 4 | Consumer Discretionary | 9.85% |
| 5 | Industrials | 9.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SEM
1701
DELISTED
Select Medical
SEM
| $2.09M | ﹤0.01% |
252,951
-13,689
| -5% | -$131K |
|
1702
AMERISAFE
AMSF
$519M
| $2.09M | ﹤0.01% |
36,851
-5,721
| -13% | -$357K |
|
1703
Acco Brands
ACCO
$396M
| $2.09M | ﹤0.01% |
307,985
+16,702
| +6% | +$143K |
|
1704
Ennis
EBF
$560M
| $2.09M | ﹤0.01% |
108,448
+1,583
| +1% | +$30.4K |
|
1705
Orthofix Medical
OFIX
$420M
| $2.09M | ﹤0.01% |
39,787
+1,756
| +5% | +$99.9K |
|
|
CUB
1706
DELISTED
Cubic Corporation
CUB
| $2.09M | ﹤0.01% |
38,854
-2,460
| -6% | -$155K |
|
1707
Gran Tierra Energy
GTE
$337M
| $2.08M | ﹤0.01% |
95,810
| – | – |
|
|
MODV
1708
DELISTED
ModivCare
MODV
| $2.08M | ﹤0.01% |
34,621
-1,600
| -4% | -$106K |
|
1709
Silicon Motion
SIMO
$7.6B
| $2.08M | ﹤0.01% |
60,146
-2,247
| -4% | -$87.9K |
|
1710
CRISPR Therapeutics
CRSP
$5.23B
| $2.07M | ﹤0.01% |
72,557
+48,174
| +198% | +$1.67M |
|
1711
Independence Realty Trust
IRT
$3.93B
| $2.07M | ﹤0.01% |
225,545
-18,781
| -8% | -$185K |
|
|
DO
1712
DELISTED
Diamond Offshore Drilling
DO
| $2.07M | ﹤0.01% |
219,111
-9,789
| -4% | -$139K |
|
1713
iShares Russell 2000 ETF
IWM
$81.8B
| $2.07M | ﹤0.01% |
15,427
-154
| -1% | -$23K |
|
1714
Dropbox
DBX
$7.41B
| $2.06M | ﹤0.01% |
101,003
-9,100
| -8% | -$210K |
|
|
LGF.B
1715
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $2.06M | ﹤0.01% |
138,600
-13,500
| -9% | -$244K |
|
|
RFP
1716
DELISTED
Resolute Forest Products Inc.
RFP
| $2.06M | ﹤0.01% |
259,872
+7,277
| +3% | +$80.3K |
|
1717
Artivion
AORT
$1.38B
| $2.05M | ﹤0.01% |
72,118
-438
| -0.6% | -$13.2K |
|
|
AEGN
1718
DELISTED
Aegion Corp
AEGN
| $2.04M | ﹤0.01% |
125,194
+1,331
| +1% | +$26.6K |
|
1719
Chegg
CHGG
$92.8M
| $2.04M | ﹤0.01% |
71,825
-1,942
| -3% | -$52.3K |
|
1720
Rush Enterprises Class A
RUSHA
$9.52B
| $2.04M | ﹤0.01% |
133,097
-2,794
| -2% | -$44.7K |
|
|
ESIO
1721
DELISTED
Electro Scientific Industries
ESIO
| $2.03M | ﹤0.01% |
67,886
-1,939
| -3% | -$48.1K |
|
|
NFBK
1722
DELISTED
Northfield Bancorp
NFBK
| $2.03M | ﹤0.01% |
149,892
+1,571
| +1% | +$21.8K |
|
1723
Greif
GEF
$4.98B
| $2.03M | ﹤0.01% |
54,591
-3,173
| -5% | -$148K |
|
|
MRTX
1724
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $2.01M | ﹤0.01% |
47,401
+25,000
| +112% | +$996K |
|
1725
Ceragon Networks
CRNT
$199M
| $2.01M | ﹤0.01% |
531,175
| – | – |
|
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California Public Employees Retirement System's Q4 2018 Portfolio in Review
As of Q4 2018, California Public Employees Retirement System held 3,341 positions worth $71.3B, down 8% from $77.6B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
California Public Employees Retirement System deployed $4.76B of net new capital in Q4 2018, opening 51 new positions and adding to 888 existing holdings. Its largest new stake was Linde: 990,142 shares worth $155M.
By sector, the portfolio is most concentrated in Financials at 16% of assets, down from 17% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Alphabet (Google) Class A, an estimated $180M trimmed.
- California Public Employees Retirement System's largest Q4 2018 buy was Linde: 990,142 shares worth $155M.
- California Public Employees Retirement System added most to Coca-Cola in Q4 2018, an estimated $200M increase.
- California Public Employees Retirement System's biggest Q4 2018 reduction was Alphabet (Google) Class A, cutting an estimated $180M.
- California Public Employees Retirement System fully exited Aetna Inc in Q4 2018, selling an estimated $235M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $71.3B portfolio in Q4 2018.
- California Public Employees Retirement System opened 51 new positions and closed 89 in Q4 2018.
- California Public Employees Retirement System's portfolio value fell 8% quarter-over-quarter to $71.3B.
Based on California Public Employees Retirement System's 13F filing for Q4 2018, filed 8 Feb 2019.