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 |
Verizon
VZ
|
+$175M |
| 2 |
Oracle
ORCL
|
+$148M |
| 3 |
CME Group
CME
|
+$115M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$110M |
| 5 |
Intercontinental Exchange
ICE
|
+$94.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$334M |
| 2 |
RTX Corp
RTX
|
+$289M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$224M |
| 4 |
iShares MSCI EAFE ETF
EFA
|
+$201M |
| 5 |
Elevance Health
ELV
|
+$174M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.81% |
| 2 | Healthcare | 13.89% |
| 3 | Financials | 13.77% |
| 4 | Consumer Discretionary | 9.93% |
| 5 | Consumer Staples | 9.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TLRA
2276
DELISTED
Telaria, Inc.
TLRA
| $629K | ﹤0.01% |
104,790
+13,100
| +14% | +$130K |
|
|
TBRG
2277
DELISTED
TruBridge
TBRG
| $628K | ﹤0.01% |
28,245
-8,200
| -22% | -$211K |
|
|
ATHX
2278
DELISTED
Athersys, Inc. Common Stock
ATHX
| $627K | ﹤0.01% |
8,360
| – | – |
|
|
RST
2279
DELISTED
ROSETTA STONE INC
RST
| $625K | ﹤0.01% |
44,604
+4,600
| +11% | +$77.2K |
|
2280
Community Health Systems
CYH
$410M
| $624K | ﹤0.01% |
186,766
+1,954
| +1% | +$7.92K |
|
2281
Dorchester Minerals
DMLP
$1.35B
| $623K | ﹤0.01% |
66,940
+5,200
| +8% | +$79.9K |
|
2282
Financial Institutions
FISI
$825M
| $623K | ﹤0.01% |
34,363
-7,715
| -18% | -$207K |
|
|
EVA
2283
DELISTED
Enviva Inc.
EVA
| $623K | ﹤0.01% |
23,304
| – | – |
|
2284
Matador Resources
MTDR
$6.39B
| $622K | ﹤0.01% |
250,705
-107,438
| -30% | -$1.18M |
|
2285
Independent Bank Corp
IBCP
$854M
| $621K | ﹤0.01% |
48,281
-58,990
| -55% | -$1.14M |
|
2286
Twin Disc
TWIN
$355M
| $620K | ﹤0.01% |
88,885
-9,015
| -9% | -$84.5K |
|
2287
Viking Therapeutics
VKTX
$3.84B
| $619K | ﹤0.01% |
132,300
+20,900
| +19% | +$128K |
|
2288
MacroGenics
MGNX
$259M
| $618K | ﹤0.01% |
106,102
-3,800
| -3% | -$34.5K |
|
2289
i3 Verticals
IIIV
$323M
| $617K | ﹤0.01% |
32,338
+10,200
| +46% | +$287K |
|
|
TA
2290
DELISTED
TravelCenters of America LLC
TA
| $616K | ﹤0.01% |
62,978
-7,902
| -11% | -$114K |
|
2291
Clearwater Paper
CLW
$356M
| $614K | ﹤0.01% |
28,155
| – | – |
|
|
VRS
2292
DELISTED
Verso Corporation
VRS
| $614K | ﹤0.01% |
54,443
+8,952
| +20% | +$140K |
|
|
COWN
2293
DELISTED
Cowen Inc. Class A Common Stock
COWN
| $614K | ﹤0.01% |
63,601
-122,578
| -66% | -$1.75M |
|
2294
Marcus Corp
MCS
$914M
| $613K | ﹤0.01% |
49,737
-23,711
| -32% | -$597K |
|
|
GPMT
2295
Granite Point Mortgage Trust
GPMT
$58.8M
| $612K | ﹤0.01% |
120,742
-4,500
| -4% | -$68.1K |
|
|
AVDL
2296
DELISTED
Avadel Pharmaceuticals
AVDL
| $611K | ﹤0.01% |
77,000
-6,200
| -7% | -$47.6K |
|
2297
SunCoke Energy
SXC
$788M
| $611K | ﹤0.01% |
158,596
-27,200
| -15% | -$138K |
|
2298
Ardelyx
ARDX
$1.01B
| $610K | ﹤0.01% |
107,289
+22,200
| +26% | +$151K |
|
|
DBD
2299
DELISTED
Diebold Nixdorf Incorporated
DBD
| $610K | ﹤0.01% |
173,248
+2,800
| +2% | +$23.7K |
|
2300
Heritage Insurance Holdings
HRTG
$980M
| $609K | ﹤0.01% |
56,866
-108,094
| -66% | -$1.28M |
|
Similar funds
California Public Employees Retirement System's Q1 2020 Portfolio in Review
As of Q1 2020, California Public Employees Retirement System held 3,465 positions worth $82.6B, down 25% from $110B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
California Public Employees Retirement System withdrew a net $6.6B in Q1 2020, closing 83 positions and reducing 2,104 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $334M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 18% a quarter earlier, followed by Healthcare and Financials.
Against the trend, California Public Employees Retirement System opened a new position in Diversified Healthcare Trust worth $1.94M.
- California Public Employees Retirement System's largest Q1 2020 buy was Diversified Healthcare Trust: 534,915 shares worth $1.94M.
- California Public Employees Retirement System added most to Verizon in Q1 2020, an estimated $175M increase.
- California Public Employees Retirement System's biggest Q1 2020 reduction was Alphabet (Google) Class A, cutting an estimated $224M.
- California Public Employees Retirement System fully exited State Street SPDR S&P 500 ETF Trust in Q1 2020, selling an estimated $334M.
- California Public Employees Retirement System's ten largest holdings make up 18% of its $82.6B portfolio in Q1 2020.
- California Public Employees Retirement System opened 29 new positions and closed 83 in Q1 2020.
- California Public Employees Retirement System's portfolio value fell 25% quarter-over-quarter to $82.6B.
Based on California Public Employees Retirement System's 13F filing for Q1 2020, filed 12 May 2020.