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 | |
|---|---|---|---|---|---|---|
2151
Johnson Outdoors
JOUT
$494M
| $1.08M | ﹤0.01% |
18,386
-4,624
| -20% | -$331K |
|
|
FARO
2152
DELISTED
Faro Technologies
FARO
| $1.07M | ﹤0.01% |
26,432
-1,200
| -4% | -$58.2K |
|
2153
Walker & Dunlop
WD
$1.48B
| $1.07M | ﹤0.01% |
24,826
+8,194
| +49% | +$377K |
|
|
CIVI
2154
DELISTED
Civitas Solutions, Inc.
CIVI
| $1.07M | ﹤0.01% |
61,320
+3,169
| +5% | +$47.3K |
|
|
AIFU
2155
AIFU Inc
AIFU
$219M
| $1.07M | ﹤0.01% |
122
-18
| -13% | -$183K |
|
|
CONN
2156
DELISTED
Conn's Inc.
CONN
| $1.07M | ﹤0.01% |
56,691
-551
| -1% | -$14.9K |
|
|
CLVS
2157
DELISTED
Clovis Oncology, Inc.
CLVS
| $1.07M | ﹤0.01% |
59,500
-5,900
| -9% | -$121K |
|
2158
West Bancorporation
WTBA
$496M
| $1.07M | ﹤0.01% |
55,920
+1,523
| +3% | +$32.2K |
|
2159
GrafTech
EAF
$206M
| $1.07M | ﹤0.01% |
9,321
+3,790
| +69% | +$579K |
|
2160
First Mid Bancshares
FMBH
$1.37B
| $1.06M | ﹤0.01% |
33,370
| – | – |
|
|
BNFT
2161
DELISTED
Benefitfocus, Inc.
BNFT
| $1.06M | ﹤0.01% |
23,300
-1,200
| -5% | -$50.1K |
|
|
VRTV
2162
DELISTED
VERITIV CORPORATION
VRTV
| $1.06M | ﹤0.01% |
42,515
+2,452
| +6% | +$74.4K |
|
2163
National CineMedia
NCMI
$355M
| $1.06M | ﹤0.01% |
16,322
-5,244
| -24% | -$412K |
|
2164
Quanex
NX
$1.01B
| $1.06M | ﹤0.01% |
77,880
+7,129
| +10% | +$109K |
|
2165
Marchex
MCHX
$77.1M
| $1.06M | ﹤0.01% |
398,790
| – | – |
|
|
GBNK
2166
DELISTED
Guaranty Bancorp
GBNK
| $1.06M | ﹤0.01% |
50,875
-1,642
| -3% | -$41.9K |
|
2167
Lantheus
LNTH
$6.57B
| $1.05M | ﹤0.01% |
67,258
| – | – |
|
|
GLDD
2168
DELISTED
Great Lakes Dredge & Dock
GLDD
| $1.05M | ﹤0.01% |
158,901
-13,626
| -8% | -$88.8K |
|
2169
Waterstone Financial
WSBF
$374M
| $1.05M | ﹤0.01% |
62,744
+1,766
| +3% | +$29.3K |
|
2170
UFP Technologies
UFPT
$2.49B
| $1.05M | ﹤0.01% |
35,000
| – | – |
|
|
TYPE
2171
DELISTED
Monotype Imaging Holdings Inc.
TYPE
| $1.05M | ﹤0.01% |
67,689
+24,134
| +55% | +$429K |
|
2172
Silgan Holdings
SLGN
$4.35B
| $1.05M | ﹤0.01% |
44,425
+4,583
| +12% | +$115K |
|
2173
Washington Trust Bancorp
WASH
$744M
| $1.05M | ﹤0.01% |
22,044
-1,858
| -8% | -$95.5K |
|
|
LKSD
2174
DELISTED
LSC Communications, Inc.
LKSD
| $1.05M | ﹤0.01% |
149,785
+10,733
| +8% | +$97.5K |
|
|
CALY
2175
Callaway Golf Company
CALY
$3.01B
| $1.05M | ﹤0.01% |
68,419
+7,011
| +11% | +$140K |
|
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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.