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 | |
|---|---|---|---|---|---|---|
|
USAK
2001
DELISTED
USA Truck Inc
USAK
| $1.8M | ﹤0.01% |
99,505
+10,689
| +12% | +$173K |
|
|
QIWI
2002
DELISTED
QIWI PLC
QIWI
| $1.79M | ﹤0.01% |
103,380
+26,480
| +34% | +$423K |
|
|
HMHC
2003
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $1.79M | ﹤0.01% |
192,133
+11,990
| +7% | +$120K |
|
|
WIRE
2004
DELISTED
Encore Wire Corp
WIRE
| $1.78M | ﹤0.01% |
36,528
+2,828
| +8% | +$131K |
|
|
LMNX
2005
DELISTED
Luminex Corp
LMNX
| $1.77M | ﹤0.01% |
90,092
+1,800
| +2% | +$37.4K |
|
2006
Kopin
KOPN
$780M
| $1.77M | ﹤0.01% |
554,200
| – | – |
|
|
PERY
2007
DELISTED
Perry Ellis International Inc
PERY
| $1.77M | ﹤0.01% |
70,690
+5,534
| +8% | +$132K |
|
|
AFAM
2008
DELISTED
Almost Family Inc
AFAM
| $1.77M | ﹤0.01% |
31,942
-3,046
| -9% | -$162K |
|
|
LBAI
2009
DELISTED
Lakeland Bancorp Inc
LBAI
| $1.75M | ﹤0.01% |
90,829
-21,234
| -19% | -$430K |
|
|
ARNA
2010
DELISTED
Arena Pharmaceuticals Inc
ARNA
| $1.75M | ﹤0.01% |
51,400
+1,700
| +3% | +$48.4K |
|
|
TVRD
2011
Tvardi Therapeutics
TVRD
$22M
| $1.74M | ﹤0.01% |
3,958
-661
| -14% | -$301K |
|
2012
Liberty Latin America Class A
LILA
$1.67B
| $1.74M | ﹤0.01% |
135,064
+3,280
| +2% | +$46.4K |
|
2013
Preferred Bank
PFBC
$1.25B
| $1.73M | ﹤0.01% |
29,453
-7,426
| -20% | -$451K |
|
|
COBZ
2014
DELISTED
CoBiz Financial,Inc
COBZ
| $1.73M | ﹤0.01% |
86,500
-6,328
| -7% | -$128K |
|
|
ORIT
2015
DELISTED
Oritani Financial Corp. New
ORIT
| $1.73M | ﹤0.01% |
105,331
+20,152
| +24% | +$339K |
|
2016
VSE Corp
VSEC
$6.21B
| $1.73M | ﹤0.01% |
35,644
+1,344
| +4% | +$68.9K |
|
2017
ATN International
ATNI
$494M
| $1.72M | ﹤0.01% |
31,104
+4,669
| +18% | +$255K |
|
|
CWEN.A
2018
DELISTED
Clearway Energy Class A
CWEN.A
| $1.72M | ﹤0.01% |
91,172
+18,825
| +26% | +$354K |
|
2019
Kadant
KAI
$3.94B
| $1.71M | ﹤0.01% |
17,049
-625
| -4% | -$63.4K |
|
2020
1st Source
SRCE
$2.1B
| $1.71M | ﹤0.01% |
34,615
+700
| +2% | +$35.6K |
|
|
EPZM
2021
DELISTED
Epizyme, Inc
EPZM
| $1.7M | ﹤0.01% |
135,500
| – | – |
|
|
AFI
2022
DELISTED
Armstrong Flooring, Inc.
AFI
| $1.7M | ﹤0.01% |
100,284
+19,233
| +24% | +$312K |
|
2023
Sonida Senior Living
SNDA
$1.99B
| $1.69M | ﹤0.01% |
8,373
+867
| +12% | +$186K |
|
|
HOLI
2024
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
| $1.69M | ﹤0.01% |
76,088
-414
| -0.5% | -$9.55K |
|
2025
Artivion
AORT
$1.28B
| $1.69M | ﹤0.01% |
88,399
-6,773
| -7% | -$136K |
|
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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.