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 |
Alphabet (Google) Class A
GOOGL
|
+$580M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$546M |
| 3 |
Synchrony
SYF
|
+$166M |
| 4 |
Hewlett Packard
HPE
|
+$71.4M |
| 5 |
Alibaba
BABA
|
+$54.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$115M |
| 2 |
HP
HPQ
|
+$80M |
| 3 |
Apple
AAPL
|
+$51.3M |
| 4 |
SIAL
SIGMA - ALDRICH CORP
SIAL
|
+$44.7M |
| 5 |
CMCSK
COMCAST CORP SPL A (NEW)
CMCSK
|
+$39.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.31% |
| 2 | Healthcare | 14.37% |
| 3 | Technology | 14.02% |
| 4 | Industrials | 10.59% |
| 5 | Consumer Discretionary | 9.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$4.98T
| $1.59B | 2.52% |
60,484,336
-1,794,400
| -3% | -$51.3M |
|
2
Microsoft
MSFT
$2.92T
| $1.14B | 1.81% |
20,621,516
+639,299
| +3% | +$33.6M |
|
3
ExxonMobil
XOM
$636B
| $954M | 1.51% |
12,241,188
+30,900
| +0.3% | +$2.47M |
|
4
Wells Fargo
WFC
$263B
| $796M | 1.26% |
14,637,182
-268,701
| -2% | -$14.6M |
|
5
Johnson & Johnson
JNJ
$647B
| $764M | 1.21% |
7,440,667
-700
| -0% | -$70.4K |
|
|
6
GE Aerospace
GE
$378B
| $745M | 1.18% |
4,988,846
-812,793
| -14% | -$115M |
|
7
JPMorgan Chase
JPM
$948B
| $704M | 1.11% |
10,658,676
+4,100
| +0% | +$267K |
|
8
Amazon
AMZN
$2.48T
| $644M | 1.02% |
19,070,780
+42,000
| +0.2% | +$1.32M |
|
9
AT&T
T
$169B
| $630M | 1% |
24,254,576
+97,182
| +0.4% | +$2.47M |
|
|
10
Alphabet (Google) Class A
GOOGL
$4.08T
| $610M | 0.96% |
+15,685,180
| New | +$580M |
|
11
Procter & Gamble
PG
$347B
| $583M | 0.92% |
7,336,955
+20,199
| +0.3% | +$1.54M |
|
|
12
Alphabet (Google) Class C
GOOG
$4.08T
| $578M | 0.91% |
+15,225,840
| New | +$546M |
|
13
Meta Platforms (Facebook)
META
$1.51T
| $567M | 0.9% |
5,416,300
+10,900
| +0.2% | +$1.12M |
|
14
Pfizer
PFE
$144B
| $542M | 0.86% |
17,706,818
-447,107
| -2% | -$14.1M |
|
15
Verizon
VZ
$201B
| $533M | 0.84% |
11,524,642
-211,700
| -2% | -$9.61M |
|
16
Bank of America
BAC
$438B
| $511M | 0.81% |
30,389,613
+56,700
| +0.2% | +$959K |
|
17
Chevron
CVX
$375B
| $503M | 0.8% |
5,590,561
-175,000
| -3% | -$15.8M |
|
18
Home Depot
HD
$342B
| $497M | 0.79% |
3,754,916
+88,900
| +2% | +$11.3M |
|
19
Coca-Cola
KO
$378B
| $493M | 0.78% |
11,485,912
+347,399
| +3% | +$14.7M |
|
20
Walt Disney
DIS
$171B
| $480M | 0.76% |
4,570,476
-132,300
| -3% | -$14.7M |
|
21
Intel
INTC
$442B
| $464M | 0.73% |
13,456,978
-800
| -0% | -$27K |
|
22
Citigroup
C
$221B
| $453M | 0.72% |
8,750,579
+271,700
| +3% | +$14.4M |
|
23
Comcast
CMCSA
$85B
| $432M | 0.68% |
15,315,600
+1,437,000
| +10% | +$43.3M |
|
24
PepsiCo
PEP
$194B
| $418M | 0.66% |
4,187,505
+6,700
| +0.2% | +$669K |
|
25
Merck
MRK
$325B
| $414M | 0.65% |
8,206,944
+35,317
| +0.4% | +$1.78M |
|
Similar funds
California Public Employees Retirement System's Q4 2015 Portfolio in Review
As of Q4 2015, California Public Employees Retirement System held 3,723 positions worth $63.3B, up 7.5% from $58.9B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Trading was light in Q4 2015: portfolio turnover was 4.6%. California Public Employees Retirement System opened 75 new positions and exited 97, leaving the 3,723-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 16% of assets, down from 16% a quarter earlier, followed by Healthcare and Technology.
- California Public Employees Retirement System's largest Q4 2015 buy was Alphabet (Google) Class A: 15,685,180 shares worth $610M.
- California Public Employees Retirement System added most to Synchrony in Q4 2015, an estimated $166M increase.
- California Public Employees Retirement System's biggest Q4 2015 reduction was GE Aerospace, cutting an estimated $115M.
- California Public Employees Retirement System fully exited SIGMA - ALDRICH CORP in Q4 2015, selling an estimated $44.7M.
- California Public Employees Retirement System's ten largest holdings make up 14% of its $63.3B portfolio in Q4 2015.
- California Public Employees Retirement System opened 75 new positions and closed 97 in Q4 2015.
- California Public Employees Retirement System's portfolio value rose 7.5% quarter-over-quarter to $63.3B.
Based on California Public Employees Retirement System's 13F filing for Q4 2015, filed 4 Feb 2016.