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 | |
|---|---|---|---|---|---|---|
2026
National Beverage
FIZZ
$2.86B
| $1.29M | ﹤0.01% |
35,958
-11,964
| -25% | -$551K |
|
2027
Sierra Bancorp
BSRR
$528M
| $1.29M | ﹤0.01% |
53,555
| – | – |
|
2028
Hanmi Financial
HAFC
$954M
| $1.29M | ﹤0.01% |
65,322
+21,460
| +49% | +$458K |
|
2029
Calix
CALX
$2.49B
| $1.28M | ﹤0.01% |
131,837
-8,759
| -6% | -$76.2K |
|
|
ESPR
2030
DELISTED
Esperion Therapeutics
ESPR
| $1.28M | ﹤0.01% |
27,900
-1,400
| -5% | -$67.5K |
|
2031
Herc Holdings
HRI
$5.61B
| $1.28M | ﹤0.01% |
49,372
-1,794
| -4% | -$62.5K |
|
2032
MakeMyTrip
MMYT
$5.7B
| $1.28M | ﹤0.01% |
52,672
+10,372
| +25% | +$249K |
|
2033
Citi Trends
CTRN
$631M
| $1.28M | ﹤0.01% |
62,842
| – | – |
|
|
TGI
2034
DELISTED
Triumph Group
TGI
| $1.28M | ﹤0.01% |
111,424
-6,646
| -6% | -$115K |
|
2035
Atlanta Braves Holdings Series B
BATRK
$3.34B
| $1.28M | ﹤0.01% |
51,410
-2,200
| -4% | -$55.7K |
|
2036
Financial Institutions
FISI
$825M
| $1.28M | ﹤0.01% |
49,780
+409
| +0.8% | +$11.6K |
|
2037
HealthStream
HSTM
$822M
| $1.28M | ﹤0.01% |
52,874
-2,400
| -4% | -$62.2K |
|
|
BFS
2038
Saul Centers
BFS
$864M
| $1.27M | ﹤0.01% |
26,957
-900
| -3% | -$46.1K |
|
|
SLCA
2039
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| $1.27M | ﹤0.01% |
125,033
-10,700
| -8% | -$156K |
|
2040
Hawkins
HWKN
$2.68B
| $1.27M | ﹤0.01% |
61,922
| – | – |
|
2041
NVE Corp
NVEC
$582M
| $1.27M | ﹤0.01% |
14,490
+108
| +0.8% | +$9.78K |
|
|
CBL
2042
DELISTED
CBL& Associates Properties, Inc.
CBL
| $1.27M | ﹤0.01% |
659,957
+72,014
| +12% | +$211K |
|
2043
Primoris Services
PRIM
$4.4B
| $1.26M | ﹤0.01% |
66,136
-2,638
| -4% | -$59.2K |
|
|
KANG
2044
DELISTED
iKang Healthcare Group, Inc.
KANG
| $1.26M | ﹤0.01% |
62,013
-10,151
| -14% | -$181K |
|
2045
White Mountains Insurance
WTM
$5.05B
| $1.26M | ﹤0.01% |
1,472
+54
| +4% | +$48.1K |
|
2046
Adtran
ADTN
$667M
| $1.26M | ﹤0.01% |
117,531
-151
| -0.1% | -$2.06K |
|
2047
Insteel Industries
IIIN
$626M
| $1.26M | ﹤0.01% |
51,817
-2,400
| -4% | -$66.7K |
|
|
RRD
2048
DELISTED
RR Donnelley & Sons Co.
RRD
| $1.26M | ﹤0.01% |
317,711
-13,175
| -4% | -$68.5K |
|
2049
UNIFI
UFI
$126M
| $1.25M | ﹤0.01% |
54,930
+1,285
| +2% | +$32.4K |
|
2050
Columbus McKinnon
CMCO
$547M
| $1.25M | ﹤0.01% |
41,562
-2,809
| -6% | -$95.3K |
|
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.