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 | |
|---|---|---|---|---|---|---|
2126
eHealth
EHTH
$40.4M
| $1.43M | ﹤0.01% |
82,584
-17,564
| -18% | -$393K |
|
|
HTBK
2127
DELISTED
Heritage Commerce
HTBK
| $1.43M | ﹤0.01% |
93,200
| – | – |
|
|
EEX
2128
DELISTED
Emerald Holding
EEX
| $1.42M | ﹤0.01% |
70,000
| – | – |
|
2129
ICF International
ICFI
$1.64B
| $1.42M | ﹤0.01% |
27,125
-2,340
| -8% | -$126K |
|
|
I
2130
DELISTED
INTELSAT S. A.
I
| $1.42M | ﹤0.01% |
419,308
+109,447
| +35% | +$488K |
|
2131
TriNet
TNET
$3.09B
| $1.42M | ﹤0.01% |
31,988
+1,800
| +6% | +$72.1K |
|
2132
First Interstate BancSystem
FIBK
$3.56B
| $1.42M | ﹤0.01% |
35,379
+2,917
| +9% | +$113K |
|
2133
TriCo Bancshares
TCBK
$1.82B
| $1.42M | ﹤0.01% |
37,416
+667
| +2% | +$27.4K |
|
2134
Interparfums
IPAR
$3.83B
| $1.41M | ﹤0.01% |
32,500
+800
| +3% | +$34.8K |
|
|
GRVY
2135
GRAVITY
GRVY
$481M
| $1.41M | ﹤0.01% |
29,850
| – | – |
|
2136
Griffon
GFF
$4.75B
| $1.41M | ﹤0.01% |
69,171
+3,460
| +5% | +$75.6K |
|
2137
Matthews International
MATW
$717M
| $1.41M | ﹤0.01% |
26,665
+1,600
| +6% | +$93.3K |
|
|
IHC
2138
DELISTED
Independence Holding Company
IHC
| $1.41M | ﹤0.01% |
51,260
| – | – |
|
2139
Team
TISI
$75.7M
| $1.4M | ﹤0.01% |
9,413
| – | – |
|
2140
Valhi
VHI
$474M
| $1.4M | ﹤0.01% |
18,942
| – | – |
|
|
AVTA
2141
DELISTED
Avantax, Inc. Common Stock
AVTA
| $1.4M | ﹤0.01% |
63,306
+2,929
| +5% | +$65.3K |
|
2142
NVE Corp
NVEC
$573M
| $1.39M | ﹤0.01% |
16,100
| – | – |
|
2143
BlackRock TCP Capital
TCPC
$331M
| $1.38M | ﹤0.01% |
90,500
+3,300
| +4% | +$52.8K |
|
2144
Bristow Group
VTOL
$1.38B
| $1.38M | ﹤0.01% |
64,297
| – | – |
|
2145
Utah Medical Products
UTMD
$227M
| $1.38M | ﹤0.01% |
16,950
| – | – |
|
2146
HealthStream
HSTM
$859M
| $1.38M | ﹤0.01% |
59,500
-2,688
| -4% | -$63.3K |
|
2147
Geospace Technologies
GEOS
$72.8M
| $1.37M | ﹤0.01% |
105,800
| – | – |
|
|
BMTC
2148
DELISTED
Bryn Mawr Bank Corp
BMTC
| $1.37M | ﹤0.01% |
31,032
+4,746
| +18% | +$210K |
|
|
AHRT
2149
AH Realty Trust
AHRT
$503M
| $1.37M | ﹤0.01% |
88,300
-9,349
| -10% | -$139K |
|
2150
Miller Industries
MLR
$606M
| $1.37M | ﹤0.01% |
53,154
+5,221
| +11% | +$141K |
|
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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.