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 |
Merck
MRK
|
+$261M |
| 2 |
Becton Dickinson
BDX
|
+$198M |
| 3 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$186M |
| 4 |
Apple
AAPL
|
+$171M |
| 5 |
Johnson & Johnson
JNJ
|
+$152M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aflac
AFL
|
+$125M |
| 2 |
ONC
BeOne Medicines Ltd
ONC
|
+$68.8M |
| 3 |
UDR
UDR
|
+$61.6M |
| 4 |
IMMU
Immunomedics Inc
IMMU
|
+$40.1M |
| 5 |
NextEra Energy
NEE
|
+$38M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.29% |
| 2 | Healthcare | 14.28% |
| 3 | Financials | 12.51% |
| 4 | Consumer Discretionary | 11.95% |
| 5 | Communication Services | 9.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2351
Liberty Latin America Class A
LILA
$1.69B
| $1.2M | ﹤0.01% |
158,745
-1,647
| -1% | -$12.2K |
|
2352
Advantage Solutions
ADV
$399M
| $1.2M | ﹤0.01% |
3,628
+2,728
| +303% | +$717K |
|
2353
Donnelley Financial Solutions
DFIN
$1.17B
| $1.2M | ﹤0.01% |
70,391
-1,300
| -2% | -$20.1K |
|
|
FFG
2354
DELISTED
FBL Financial Group
FFG
| $1.19M | ﹤0.01% |
22,716
-204
| -0.9% | -$10.5K |
|
2355
Great Southern Bancorp
GSBC
$877M
| $1.19M | ﹤0.01% |
24,349
-500
| -2% | -$22.2K |
|
2356
Atea Pharmaceuticals
AVIR
$405M
| $1.19M | ﹤0.01% |
+28,472
| New | +$918K |
|
2357
Camden National
CAC
$990M
| $1.19M | ﹤0.01% |
33,236
-600
| -2% | -$20.6K |
|
2358
Outset Medical
OM
$79.9M
| $1.19M | ﹤0.01% |
+1,391
| New | +$1.07M |
|
|
PENG
2359
Penguin Solutions Inc
PENG
$3.12B
| $1.18M | ﹤0.01% |
62,814
-3,864
| -6% | -$57.7K |
|
2360
Digimarc Corp
DMRC
$167M
| $1.18M | ﹤0.01% |
25,000
-500
| -2% | -$19.6K |
|
|
AWH
2361
DELISTED
Aspira Women's Health Inc. Common Stock
AWH
| $1.18M | ﹤0.01% |
11,732
-226
| -2% | -$15.1K |
|
2362
Gogo Inc
GOGO
$377M
| $1.18M | ﹤0.01% |
122,568
-7,741
| -6% | -$76.7K |
|
2363
United Fire Group
UFCS
$1.37B
| $1.18M | ﹤0.01% |
46,832
-900
| -2% | -$20.5K |
|
2364
Sutro Biopharma
STRO
$353M
| $1.17M | ﹤0.01% |
5,400
+20
| +0.4% | +$3.31K |
|
2365
Olema Pharmaceuticals
OLMA
$913M
| $1.17M | ﹤0.01% |
+24,321
| New | +$1.14M |
|
2366
Sterling Infrastructure
STRL
$16.8B
| $1.16M | ﹤0.01% |
62,280
-596
| -0.9% | -$9.72K |
|
|
MRC
2367
DELISTED
MRC Global
MRC
| $1.16M | ﹤0.01% |
174,558
-10,964
| -6% | -$60.5K |
|
2368
PC Connection
CNXN
$2.04B
| $1.16M | ﹤0.01% |
24,455
-1,057
| -4% | -$48.6K |
|
2369
Central Pacific Financial
CPF
$1B
| $1.16M | ﹤0.01% |
60,766
-1,200
| -2% | -$19.5K |
|
2370
First Financial Corp
THFF
$970M
| $1.16M | ﹤0.01% |
29,721
-600
| -2% | -$21.9K |
|
|
CHUY
2371
DELISTED
Chuy's Holdings, Inc. Common Stock
CHUY
| $1.15M | ﹤0.01% |
43,566
-800
| -2% | -$19K |
|
2372
Carriage Services
CSV
$535M
| $1.15M | ﹤0.01% |
36,788
-700
| -2% | -$19.1K |
|
2373
Citi Trends
CTRN
$617M
| $1.15M | ﹤0.01% |
23,192
+2,592
| +13% | +$88.2K |
|
|
RC
2374
Ready Capital
RC
$294M
| $1.15M | ﹤0.01% |
92,550
-2,663
| -3% | -$32.7K |
|
2375
Barrett Business Services
BBSI
$756M
| $1.15M | ﹤0.01% |
67,288
-1,200
| -2% | -$19.6K |
|
Similar funds
California Public Employees Retirement System's Q4 2020 Portfolio in Review
As of Q4 2020, California Public Employees Retirement System held 3,678 positions worth $130B, up 15% from $112B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
California Public Employees Retirement System's Q4 2020 filing shows 119 new, 1,416 increased, 1,670 reduced and 115 closed positions. Its largest new stake was Seagen Inc. Common Stock: 998,612 shares worth $175M. The largest sale was Aflac, an estimated $125M.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 22% a quarter earlier, followed by Healthcare and Financials.
- California Public Employees Retirement System's largest Q4 2020 buy was Seagen Inc. Common Stock: 998,612 shares worth $175M.
- California Public Employees Retirement System added most to Merck in Q4 2020, an estimated $261M increase.
- California Public Employees Retirement System's biggest Q4 2020 reduction was Aflac, cutting an estimated $125M.
- California Public Employees Retirement System fully exited BeOne Medicines Ltd in Q4 2020, selling an estimated $68.8M.
- California Public Employees Retirement System's ten largest holdings make up 18% of its $130B portfolio in Q4 2020.
- California Public Employees Retirement System opened 119 new positions and closed 115 in Q4 2020.
- California Public Employees Retirement System's portfolio value rose 15% quarter-over-quarter to $130B.
Based on California Public Employees Retirement System's 13F filing for Q4 2020, filed 2 Feb 2021.