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 | |
|---|---|---|---|---|---|---|
2101
Geospace Technologies
GEOS
$69.2M
| $1.15M | ﹤0.01% |
111,571
| – | – |
|
2102
Modine Manufacturing
MOD
$10.5B
| $1.15M | ﹤0.01% |
106,180
-4,800
| -4% | -$61.1K |
|
|
MNR
2103
DELISTED
Monmouth Real Estate Investment Corp
MNR
| $1.15M | ﹤0.01% |
92,519
-10,335
| -10% | -$150K |
|
2104
National Bank Holdings
NBHC
$1.92B
| $1.15M | ﹤0.01% |
37,078
-3,606
| -9% | -$125K |
|
2105
M/I Homes
MHO
$3.85B
| $1.14M | ﹤0.01% |
54,197
+16,263
| +43% | +$375K |
|
2106
Preferred Bank
PFBC
$1.27B
| $1.14M | ﹤0.01% |
26,247
-2,013
| -7% | -$103K |
|
|
CADE
2107
DELISTED
Cadence Bancorporation
CADE
| $1.14M | ﹤0.01% |
67,833
+9,973
| +17% | +$212K |
|
|
SBR
2108
Sabine Royalty Trust
SBR
$1.06B
| $1.14M | ﹤0.01% |
30,462
-11,695
| -28% | -$445K |
|
2109
Unity Bancorp
UNTY
$609M
| $1.13M | ﹤0.01% |
54,643
| – | – |
|
2110
Alpha and Omega Semiconductor
AOSL
$1.04B
| $1.13M | ﹤0.01% |
110,673
+1,609
| +1% | +$16.6K |
|
|
TVRD
2111
Tvardi Therapeutics
TVRD
$22.1M
| $1.13M | ﹤0.01% |
2,411
+33
| +1% | +$21.3K |
|
|
CSII
2112
DELISTED
Cardiovascular Systems, Inc.
CSII
| $1.13M | ﹤0.01% |
39,579
-3,400
| -8% | -$108K |
|
|
MOFG
2113
DELISTED
MidWestOne Financial Group
MOFG
| $1.13M | ﹤0.01% |
45,402
+1,848
| +4% | +$54.2K |
|
|
TRUE
2114
DELISTED
TrueCar
TRUE
| $1.13M | ﹤0.01% |
124,200
-12,100
| -9% | -$131K |
|
|
EGLE
2115
DELISTED
Eagle Bulk Shipping Inc.
EGLE
| $1.12M | ﹤0.01% |
34,846
| – | – |
|
2116
Monarch Casino & Resort
MCRI
$2.19B
| $1.12M | ﹤0.01% |
29,431
-9,894
| -25% | -$402K |
|
|
OLP
2117
One Liberty Properties
OLP
$515M
| $1.12M | ﹤0.01% |
46,290
| – | – |
|
|
CNCE
2118
DELISTED
Concert Pharmaceuticals, Inc.
CNCE
| $1.12M | ﹤0.01% |
89,279
+4,800
| +6% | +$66.3K |
|
|
KRA
2119
DELISTED
Kraton Corporation
KRA
| $1.12M | ﹤0.01% |
51,286
-4,400
| -8% | -$129K |
|
2120
Liberty Latin America Class A
LILA
$1.68B
| $1.12M | ﹤0.01% |
120,648
-5,467
| -4% | -$63.1K |
|
|
MCBC
2121
DELISTED
Macatawa Bank Corp
MCBC
| $1.12M | ﹤0.01% |
116,303
| – | – |
|
|
AHRT
2122
AH Realty Trust
AHRT
$501M
| $1.12M | ﹤0.01% |
79,484
-3,500
| -4% | -$52.2K |
|
2123
Zscaler
ZS
$28.9B
| $1.12M | ﹤0.01% |
28,500
+7,534
| +36% | +$285K |
|
|
QIWI
2124
DELISTED
QIWI PLC
QIWI
| $1.11M | ﹤0.01% |
78,858
+331
| +0.4% | +$4.46K |
|
2125
Team
TISI
$104M
| $1.11M | ﹤0.01% |
7,590
-1,487
| -16% | -$271K |
|
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.