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 | |
|---|---|---|---|---|---|---|
|
QUOT
2001
DELISTED
Quotient Technology Inc
QUOT
| $1.33M | ﹤0.01% |
124,759
-10,800
| -8% | -$135K |
|
2002
Independent Bank Corp
IBCP
$849M
| $1.33M | ﹤0.01% |
63,279
+4,223
| +7% | +$95.1K |
|
|
ATRS
2003
DELISTED
Antares Pharma, Inc.
ATRS
| $1.33M | ﹤0.01% |
488,795
| – | – |
|
|
SRDX
2004
DELISTED
Surmodics
SRDX
| $1.33M | ﹤0.01% |
28,125
+8,016
| +40% | +$481K |
|
2005
NRC Health Common Stock
NRC
$469M
| $1.33M | ﹤0.01% |
34,795
| – | – |
|
2006
BancFirst
BANF
$3.87B
| $1.32M | ﹤0.01% |
26,519
-1,459
| -5% | -$81.2K |
|
2007
AdvanSix
ASIX
$446M
| $1.32M | ﹤0.01% |
54,294
-860
| -2% | -$23.9K |
|
|
AMAG
2008
DELISTED
AMAG Pharmaceuticals
AMAG
| $1.32M | ﹤0.01% |
86,987
+690
| +0.8% | +$13.1K |
|
2009
Oil States International
OIS
$532M
| $1.32M | ﹤0.01% |
92,253
-8,038
| -8% | -$185K |
|
|
TWNK
2010
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $1.32M | ﹤0.01% |
120,425
+99,800
| +484% | +$1.1M |
|
|
KE
2011
Kimball Electronics
KE
$618M
| $1.31M | ﹤0.01% |
84,880
+4,700
| +6% | +$82.8K |
|
|
REV
2012
DELISTED
Revlon, Inc.
REV
| $1.31M | ﹤0.01% |
52,206
-1,839
| -3% | -$45.4K |
|
2013
Cass Information Systems
CASS
$751M
| $1.31M | ﹤0.01% |
24,799
+7,451
| +43% | +$402K |
|
2014
Seacoast Banking Corp of Florida
SBCF
$3.47B
| $1.31M | ﹤0.01% |
50,256
-2,619
| -5% | -$70.2K |
|
2015
Amneal Pharmaceuticals
AMRX
$6.15B
| $1.31M | ﹤0.01% |
96,605
-8,000
| -8% | -$144K |
|
2016
Mercer International
MERC
$34.1M
| $1.3M | ﹤0.01% |
124,929
-48,448
| -28% | -$673K |
|
2017
Shake Shack
SHAK
$2.98B
| $1.3M | ﹤0.01% |
28,719
-10,698
| -27% | -$552K |
|
|
TPC
2018
Tutor Perini Cor
TPC
$5.04B
| $1.3M | ﹤0.01% |
81,528
+3,287
| +4% | +$57.2K |
|
|
HDP
2019
DELISTED
Hortonworks, Inc.
HDP
| $1.3M | ﹤0.01% |
90,200
-4,600
| -5% | -$79.4K |
|
|
GOGL
2020
DELISTED
Golden Ocean Group
GOGL
| $1.3M | ﹤0.01% |
210,521
-9,700
| -4% | -$72.9K |
|
|
ACOR
2021
DELISTED
Acorda Therapeutics
ACOR
| $1.3M | ﹤0.01% |
693
-52
| -7% | -$113K |
|
2022
Ecovyst
ECVT
$1.1B
| $1.29M | ﹤0.01% |
87,457
-4,000
| -4% | -$61.4K |
|
|
DHIL
2023
DELISTED
Diamond Hill
DHIL
| $1.29M | ﹤0.01% |
8,656
-400
| -4% | -$66.3K |
|
2024
StoneX
SNEX
$8.11B
| $1.29M | ﹤0.01% |
178,630
-26,882
| -13% | -$228K |
|
|
EXTN
2025
DELISTED
Exterran Corporation
EXTN
| $1.29M | ﹤0.01% |
72,916
+140
| +0.2% | +$3.14K |
|
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.