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 |
PepsiCo
PEP
|
+$196M |
| 2 |
Coca-Cola
KO
|
+$195M |
| 3 |
NextEra Energy
NEE
|
+$108M |
| 4 |
McDonald's
MCD
|
+$99.5M |
| 5 |
Newmont
NEM
|
+$97.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apollo Global Management
APO
|
+$475M |
| 2 |
Apple
AAPL
|
+$244M |
| 3 |
Microsoft
MSFT
|
+$198M |
| 4 |
JPMorgan Chase
JPM
|
+$132M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$99.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.05% |
| 2 | Financials | 14.87% |
| 3 | Healthcare | 13.45% |
| 4 | Consumer Discretionary | 9.92% |
| 5 | Consumer Staples | 9.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Annaly Capital Management
NLY
$17.4B
| $96.1M | 0.11% |
2,632,157
+492,306
| +23% | +$18.8M |
|
202
Norfolk Southern
NSC
$75.1B
| $95.9M | 0.11% |
481,341
-60,834
| -11% | -$12.1M |
|
203
Illinois Tool Works
ITW
$84.5B
| $95.9M | 0.11% |
636,174
-16,009
| -2% | -$2.42M |
|
204
Coca-Cola Europacific Partners
CCEP
$47.9B
| $95.8M | 0.11% |
1,694,835
+294,678
| +21% | +$16.1M |
|
205
Target
TGT
$68B
| $94M | 0.11% |
1,085,512
-255,365
| -19% | -$20.6M |
|
206
Blackrock
BLK
$176B
| $91.5M | 0.11% |
194,953
-17,664
| -8% | -$7.99M |
|
207
UDR
UDR
$12.3B
| $91.3M | 0.11% |
2,033,501
+408,048
| +25% | +$18.4M |
|
208
O'Reilly Automotive
ORLY
$76.3B
| $91.2M | 0.11% |
3,704,955
+212,805
| +6% | +$5.39M |
|
209
EOG Resources
EOG
$70.7B
| $91M | 0.11% |
977,026
-47,980
| -5% | -$4.46M |
|
210
Hasbro
HAS
$13.2B
| $90.6M | 0.11% |
857,271
+146,149
| +21% | +$14.4M |
|
211
Leidos
LDOS
$17.3B
| $90.5M | 0.11% |
1,133,922
+114,737
| +11% | +$8.38M |
|
|
VAR
212
DELISTED
Varian Medical Systems, Inc.
VAR
| $90.4M | 0.11% |
664,139
+79,099
| +14% | +$10.6M |
|
213
Intercontinental Exchange
ICE
$84.4B
| $90.2M | 0.11% |
1,049,389
-41,863
| -4% | -$3.42M |
|
214
Atmos Energy
ATO
$28.8B
| $90.1M | 0.11% |
853,911
+167,365
| +24% | +$17.1M |
|
215
FirstEnergy
FE
$27.5B
| $90M | 0.11% |
2,102,424
+350,927
| +20% | +$14.7M |
|
216
C.H. Robinson
CHRW
$17.5B
| $90M | 0.11% |
1,066,514
+89,213
| +9% | +$7.5M |
|
217
Illumina
ILMN
$28.4B
| $89.7M | 0.11% |
250,549
-3,918
| -2% | -$1.24M |
|
218
Estee Lauder
EL
$32B
| $89.5M | 0.11% |
488,739
-39,954
| -8% | -$6.83M |
|
219
American International
AIG
$41.3B
| $88.8M | 0.1% |
1,667,067
-210,037
| -11% | -$10.5M |
|
220
Hormel Foods
HRL
$13.8B
| $88.6M | 0.1% |
2,185,832
+412,027
| +23% | +$16.7M |
|
221
General Motors
GM
$76.8B
| $88.2M | 0.1% |
2,290,367
-552,905
| -19% | -$20.7M |
|
222
Alexandria Real Estate Equities
ARE
$8.56B
| $87.8M | 0.1% |
622,201
+138,897
| +29% | +$20.1M |
|
|
WBA
223
DELISTED
Walgreens Boots Alliance
WBA
| $87.6M | 0.1% |
1,602,310
-240,896
| -13% | -$12.8M |
|
|
FRC
224
DELISTED
First Republic Bank
FRC
| $86.9M | 0.1% |
890,204
+125,344
| +16% | +$12.6M |
|
225
Universal Health Services
UHS
$10.5B
| $86.6M | 0.1% |
664,083
+59,039
| +10% | +$7.43M |
|
Similar funds
California Public Employees Retirement System's Q2 2019 Portfolio in Review
As of Q2 2019, California Public Employees Retirement System held 3,341 positions worth $84.7B, up 4.4% from $81.2B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
California Public Employees Retirement System's Q2 2019 filing shows 131 new, 874 increased, 1,775 reduced and 77 closed positions. Its largest new stake was Dow Inc: 1,160,686 shares worth $57.2M. The largest sale was Apollo Global Management, an estimated $475M.
By sector, the portfolio is most concentrated in Technology at 16% of assets, down from 17% a quarter earlier, followed by Financials and Healthcare.
- California Public Employees Retirement System's largest Q2 2019 buy was Dow Inc: 1,160,686 shares worth $57.2M.
- California Public Employees Retirement System added most to PepsiCo in Q2 2019, an estimated $196M increase.
- California Public Employees Retirement System's biggest Q2 2019 reduction was Apollo Global Management, cutting an estimated $475M.
- California Public Employees Retirement System fully exited Ultimate Software Group Inc in Q2 2019, selling an estimated $21.4M.
- California Public Employees Retirement System's ten largest holdings make up 15% of its $84.7B portfolio in Q2 2019.
- California Public Employees Retirement System opened 131 new positions and closed 77 in Q2 2019.
- California Public Employees Retirement System's portfolio value rose 4.4% quarter-over-quarter to $84.7B.
Based on California Public Employees Retirement System's 13F filing for Q2 2019, filed 15 Aug 2019.