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California Public Employees Retirement System

California Public Employees Retirement System Portfolio holdings

AUM $162B
1-Year Est. Return 25.78%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-2.19%
1 Year Est. Return
+25.78%
3 Year Est. Return
+90.63%
5 Year Est. Return
+123.44%
10 Year Est. Return
+465.97%
AUM
$162B
AUM Growth
-$12.4B
Cap. Flow
-$4.54B
Cap. Flow %
-2.79%
Top 10 Hldgs %
43.53%
Holding
1,109
New
23
Increased
421
Reduced
618
Closed
45

Sector Composition

1 Technology 31.72%
2 Financials 10%
3 Communication Services 8.79%
4 Healthcare 8.14%
5 Consumer Discretionary 8.07%

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California Public Employees Retirement System's Q1 2026 Portfolio in Review

As of Q1 2026, California Public Employees Retirement System held 1,109 positions worth $162B, down 7.1% from $175B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

California Public Employees Retirement System's Q1 2026 filing shows 23 new, 421 increased, 618 reduced and 45 closed positions. Its largest new stake was iShares Core S&P 500 ETF: 1,267,527 shares worth $828M. The largest sale was NVIDIA, an estimated $1.48B.

By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 33% a quarter earlier, followed by Financials and Communication Services.

  • California Public Employees Retirement System's largest Q1 2026 buy was iShares Core S&P 500 ETF: 1,267,527 shares worth $828M.
  • California Public Employees Retirement System added most to Vanguard S&P 500 ETF in Q1 2026, an estimated $1.28B increase.
  • California Public Employees Retirement System's biggest Q1 2026 reduction was NVIDIA, cutting an estimated $1.48B.
  • California Public Employees Retirement System fully exited CyberArk in Q1 2026, selling an estimated $38.1M.
  • California Public Employees Retirement System's ten largest holdings make up 44% of its $162B portfolio in Q1 2026.
  • California Public Employees Retirement System opened 23 new positions and closed 45 in Q1 2026.
  • California Public Employees Retirement System's portfolio value fell 7.1% quarter-over-quarter to $162B.

Based on California Public Employees Retirement System's 13F filing for Q1 2026, filed 6 May 2026.