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 | |
|---|---|---|---|---|---|---|
|
FCB
1801
DELISTED
FCB Financial Holdings, Inc.
FCB
| $1.77M | ﹤0.01% |
52,746
+4,206
| +9% | +$165K |
|
1802
Arbor Realty Trust
ABR
$998M
| $1.77M | ﹤0.01% |
175,685
-12,303
| -7% | -$143K |
|
1803
MaxLinear
MXL
$6.26B
| $1.76M | ﹤0.01% |
100,181
+22,055
| +28% | +$404K |
|
1804
Clearway Energy Class C
CWEN
$7.08B
| $1.76M | ﹤0.01% |
102,034
-8,500
| -8% | -$159K |
|
1805
Yext
YEXT
$572M
| $1.76M | ﹤0.01% |
118,453
-17,797
| -13% | -$314K |
|
1806
ESCO Technologies
ESE
$7.65B
| $1.76M | ﹤0.01% |
26,619
-9,455
| -26% | -$614K |
|
1807
Viper Energy
VNOM
$15.4B
| $1.76M | ﹤0.01% |
67,451
-1,609
| -2% | -$52.7K |
|
|
SIRE
1808
DELISTED
Sisecam Resources LP
SIRE
| $1.75M | ﹤0.01% |
81,800
| – | – |
|
|
TLRD
1809
DELISTED
Tailored Brands, Inc.
TLRD
| $1.75M | ﹤0.01% |
128,651
-10,312
| -7% | -$212K |
|
|
RDUS
1810
DELISTED
Radius Recycling
RDUS
| $1.75M | ﹤0.01% |
81,239
-6,762
| -8% | -$177K |
|
1811
Vanda Pharmaceuticals
VNDA
$298M
| $1.75M | ﹤0.01% |
66,985
+1,613
| +2% | +$37.9K |
|
1812
Tucows
TCX
$143M
| $1.75M | ﹤0.01% |
29,096
| – | – |
|
1813
Matrix Service
MTRX
$330M
| $1.75M | ﹤0.01% |
97,366
-6,997
| -7% | -$143K |
|
1814
Atara Biotherapeutics
ATRA
$80.6M
| $1.75M | ﹤0.01% |
2,010
+155
| +8% | +$144K |
|
1815
Golar LNG
GLNG
$5.17B
| $1.74M | ﹤0.01% |
80,080
-6,200
| -7% | -$160K |
|
1816
Interface
TILE
$2.24B
| $1.74M | ﹤0.01% |
122,296
-15,048
| -11% | -$259K |
|
1817
Axogen
AXGN
$2.61B
| $1.74M | ﹤0.01% |
85,262
-15,842
| -16% | -$496K |
|
1818
Clearwater Paper
CLW
$366M
| $1.74M | ﹤0.01% |
71,389
+2,359
| +3% | +$63.6K |
|
1819
Enterprise Financial Services Corp
EFSC
$2.4B
| $1.74M | ﹤0.01% |
46,222
-10,233
| -18% | -$456K |
|
1820
Malibu Boats
MBUU
$583M
| $1.74M | ﹤0.01% |
49,876
-4,616
| -8% | -$203K |
|
|
NP
1821
DELISTED
Neenah, Inc. Common Stock
NP
| $1.73M | ﹤0.01% |
29,397
-1,198
| -4% | -$86.7K |
|
|
NXGN
1822
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
| $1.73M | ﹤0.01% |
113,869
-20,688
| -15% | -$355K |
|
1823
Varex Imaging
VREX
$783M
| $1.72M | ﹤0.01% |
72,753
+2,100
| +3% | +$53.3K |
|
|
FTR
1824
DELISTED
Frontier Communications Corp.
FTR
| $1.72M | ﹤0.01% |
723,464
+92,545
| +15% | +$392K |
|
1825
RE/MAX Holdings
RMAX
$258M
| $1.72M | ﹤0.01% |
55,948
+10,543
| +23% | +$368K |
|
Similar funds
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.