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 |
Microsoft
MSFT
|
+$549M |
| 2 |
Apple
AAPL
|
+$498M |
| 3 |
Amazon
AMZN
|
+$407M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$260M |
| 5 |
Meta Platforms (Facebook)
META
|
+$244M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSS
Total System Services, Inc.
TSS
|
+$156M |
| 2 |
LLL
L3 Technologies, Inc.
LLL
|
+$145M |
| 3 |
Becton Dickinson
BDX
|
+$103M |
| 4 |
HCA Healthcare
HCA
|
+$90.9M |
| 5 |
Pfizer
PFE
|
+$88.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.83% |
| 2 | Financials | 15.17% |
| 3 | Healthcare | 12.39% |
| 4 | Consumer Discretionary | 9.79% |
| 5 | Consumer Staples | 9.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Dollar Tree
DLTR
$25.2B
| $125M | 0.12% |
1,098,606
+166,091
| +18% | +$17.4M |
|
177
Darden Restaurants
DRI
$24.4B
| $123M | 0.12% |
1,037,808
+76,773
| +8% | +$9.37M |
|
178
Morgan Stanley
MS
$340B
| $123M | 0.12% |
2,875,245
+536,693
| +23% | +$22.9M |
|
179
Intuitive Surgical
ISRG
$134B
| $123M | 0.12% |
680,817
+101,457
| +18% | +$17.5M |
|
180
Mid-America Apartment Communities
MAA
$15.7B
| $122M | 0.12% |
939,195
+79,357
| +9% | +$9.86M |
|
181
FirstEnergy
FE
$27.5B
| $121M | 0.12% |
2,517,376
+414,952
| +20% | +$18.8M |
|
182
W.P. Carey
WPC
$16.4B
| $121M | 0.12% |
1,381,077
+137,622
| +11% | +$11.7M |
|
183
Prologis
PLD
$133B
| $120M | 0.12% |
1,403,864
+368,597
| +36% | +$30.5M |
|
184
Intercontinental Exchange
ICE
$84.4B
| $119M | 0.12% |
1,294,712
+245,323
| +23% | +$22.4M |
|
185
Illinois Tool Works
ITW
$84.5B
| $119M | 0.12% |
758,775
+122,601
| +19% | +$18.6M |
|
186
Applied Materials
AMAT
$428B
| $118M | 0.12% |
2,370,768
+216,052
| +10% | +$10.4M |
|
187
Deere & Co
DE
$168B
| $117M | 0.12% |
696,095
+193,930
| +39% | +$31M |
|
188
American International
AIG
$41.3B
| $117M | 0.12% |
2,107,873
+440,806
| +26% | +$24.4M |
|
189
Broadridge
BR
$19B
| $117M | 0.12% |
941,797
+69,932
| +8% | +$9.01M |
|
190
Cooper Companies
COO
$14.5B
| $117M | 0.12% |
1,576,468
+152,664
| +11% | +$12.3M |
|
191
Corpay
CPAY
$25.7B
| $116M | 0.12% |
405,876
+54,488
| +16% | +$15.8M |
|
192
Loews
L
$23.6B
| $116M | 0.12% |
2,260,660
+160,381
| +8% | +$8.28M |
|
193
eBay
EBAY
$49.8B
| $116M | 0.12% |
2,983,897
+458,380
| +18% | +$18.4M |
|
194
Quest Diagnostics
DGX
$26.3B
| $116M | 0.11% |
1,079,519
+90,491
| +9% | +$9.29M |
|
195
Biogen
BIIB
$30.7B
| $115M | 0.11% |
495,531
+39,137
| +9% | +$9.11M |
|
196
Blackrock
BLK
$176B
| $115M | 0.11% |
258,016
+63,063
| +32% | +$28.1M |
|
197
Estee Lauder
EL
$32B
| $115M | 0.11% |
576,536
+87,797
| +18% | +$16.8M |
|
198
Annaly Capital Management
NLY
$17.4B
| $111M | 0.11% |
3,157,619
+525,462
| +20% | +$18.9M |
|
|
SCHW
199
Charles Schwab
SCHW
$187B
| $111M | 0.11% |
2,649,286
+745,938
| +39% | +$30.1M |
|
200
O'Reilly Automotive
ORLY
$76.3B
| $110M | 0.11% |
4,149,720
+444,765
| +12% | +$11.5M |
|
Similar funds
California Public Employees Retirement System's Q3 2019 Portfolio in Review
As of Q3 2019, California Public Employees Retirement System held 3,348 positions worth $101B, up 19% from $84.7B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
California Public Employees Retirement System deployed $14.5B of net new capital in Q3 2019, opening 84 new positions and adding to 2,655 existing holdings. Its largest new stake was Creative Media & Community Trust: 141 shares worth $53.7M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 16% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Becton Dickinson, an estimated $103M trimmed.
- California Public Employees Retirement System's largest Q3 2019 buy was Creative Media & Community Trust: 141 shares worth $53.7M.
- California Public Employees Retirement System added most to Microsoft in Q3 2019, an estimated $549M increase.
- California Public Employees Retirement System's biggest Q3 2019 reduction was Becton Dickinson, cutting an estimated $103M.
- California Public Employees Retirement System fully exited Total System Services, Inc. in Q3 2019, selling an estimated $156M.
- California Public Employees Retirement System's ten largest holdings make up 15% of its $101B portfolio in Q3 2019.
- California Public Employees Retirement System opened 84 new positions and closed 88 in Q3 2019.
- California Public Employees Retirement System's portfolio value rose 19% quarter-over-quarter to $101B.
Based on California Public Employees Retirement System's 13F filing for Q3 2019, filed 31 Oct 2019.