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 | |
|---|---|---|---|---|---|---|
1826
First Hawaiian
FHB
$3.32B
| $2.43M | ﹤0.01% |
83,253
+19,716
| +31% | +$577K |
|
|
AKS
1827
DELISTED
AK Steel Holding Corp
AKS
| $2.42M | ﹤0.01% |
428,300
+14,300
| +3% | +$74.6K |
|
|
IVC
1828
DELISTED
Invacare Corporation
IVC
| $2.42M | ﹤0.01% |
143,559
-11,044
| -7% | -$180K |
|
|
UBNK
1829
DELISTED
United Financial Bancorp, Inc.
UBNK
| $2.42M | ﹤0.01% |
137,065
+2,861
| +2% | +$52.1K |
|
1830
Boston Beer
SAM
$1.86B
| $2.42M | ﹤0.01% |
12,650
+1,850
| +17% | +$330K |
|
|
NFBK
1831
DELISTED
Northfield Bancorp
NFBK
| $2.42M | ﹤0.01% |
141,427
+9,728
| +7% | +$168K |
|
1832
Global Partners
GLP
$1.69B
| $2.41M | ﹤0.01% |
144,500
-2,400
| -2% | -$41.8K |
|
|
BFS
1833
Saul Centers
BFS
$839M
| $2.4M | ﹤0.01% |
38,896
+2,186
| +6% | +$137K |
|
1834
Agree Realty
ADC
$9.22B
| $2.4M | ﹤0.01% |
46,663
+1,584
| +4% | +$78.5K |
|
1835
QuinStreet
QNST
$1.26B
| $2.4M | ﹤0.01% |
286,333
+45,833
| +19% | +$389K |
|
1836
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.6B
| $2.4M | ﹤0.01% |
+19,723
| New | +$2.39M |
|
1837
Enterprise Financial Services Corp
EFSC
$2.38B
| $2.4M | ﹤0.01% |
53,051
-1,784
| -3% | -$78.1K |
|
|
MFGP
1838
DELISTED
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
| $2.39M | ﹤0.01% |
58,907
| – | – |
|
1839
Cavco Industries
CVCO
$4.48B
| $2.39M | ﹤0.01% |
15,649
+1,049
| +7% | +$158K |
|
|
VRTV
1840
DELISTED
VERITIV CORPORATION
VRTV
| $2.38M | ﹤0.01% |
82,516
+16,013
| +24% | +$465K |
|
|
ESND
1841
DELISTED
Essendant Inc.
ESND
| $2.38M | ﹤0.01% |
256,960
+31,054
| +14% | +$319K |
|
1842
Suburban Propane Partners
SPH
$1.17B
| $2.37M | ﹤0.01% |
97,916
+2,700
| +3% | +$67.2K |
|
|
ZGNX
1843
DELISTED
Zogenix, Inc.
ZGNX
| $2.37M | ﹤0.01% |
59,150
+1,400
| +2% | +$53.8K |
|
|
RDUS
1844
DELISTED
Radius Health, Inc.
RDUS
| $2.36M | ﹤0.01% |
74,400
+1,700
| +2% | +$53.3K |
|
1845
Prothena Corp
PRTA
$468M
| $2.36M | ﹤0.01% |
63,000
+2,300
| +4% | +$117K |
|
1846
Supernus Pharmaceuticals
SUPN
$2.74B
| $2.36M | ﹤0.01% |
59,169
+12,079
| +26% | +$477K |
|
|
P
1847
DELISTED
Pandora Media Inc
P
| $2.36M | ﹤0.01% |
489,100
+13,900
| +3% | +$83.2K |
|
|
BNCL
1848
DELISTED
Beneficial Bancorp, Inc.
BNCL
| $2.34M | ﹤0.01% |
142,361
+11,360
| +9% | +$189K |
|
|
RSO
1849
DELISTED
Resource Capital Corp.
RSO
| $2.34M | ﹤0.01% |
249,603
+20,359
| +9% | +$204K |
|
|
SPTN
1850
DELISTED
SpartanNash
SPTN
| $2.34M | ﹤0.01% |
87,551
+28,661
| +49% | +$713K |
|
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.