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
| 1 |
AT&T
T
|
$179M |
| 2 |
Alphabet (Google) Class C
GOOG
|
$146M |
| 3 |
PepsiCo
PEP
|
$65.1M |
| 4 |
Coca-Cola
KO
|
$62.7M |
| 5 |
Pfizer
PFE
|
$54.5M |
Top Sells
| 1 |
Alphabet (Google) Class A
GOOGL
|
$279M |
| 2 |
TWX
Time Warner Inc
TWX
|
$178M |
| 3 |
Apple
AAPL
|
$164M |
| 4 |
Microsoft
MSFT
|
$135M |
| 5 |
Amazon
AMZN
|
$134M |
Sector Composition
| 1 | Financials | 17.85% |
| 2 | Technology | 16.79% |
| 3 | Healthcare | 13.11% |
| 4 | Consumer Discretionary | 10.49% |
| 5 | Industrials | 10.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$3.45T
| $2.12B | 2.92% | 11,426,748 -886,679 | -7% | -$164M |
|
|
2
Microsoft
MSFT
$3.77T
| $1.63B | 2.26% | 16,579,825 -1,365,435 | -8% | -$135M |
|
|
3
Amazon
AMZN
$2.44T
| $1.32B | 1.82% | 775,843 -78,954 | -9% | -$134M |
|
|
4
Alphabet (Google) Class A
GOOGL
$2.57T
| $1.16B | 1.6% | 1,024,739 -246,960 | -19% | -$279M |
|
5
JPMorgan Chase
JPM
$829B
| $959M | 1.33% | 9,201,665 -228,640 | -2% | -$23.8M |
|
6
Meta Platforms (Facebook)
META
$1.86T
| $949M | 1.31% | 4,884,297 -338,442 | -6% | -$65.8M |
|
7
Exxon Mobil
XOM
$487B
| $905M | 1.25% | 10,941,795 -338,741 | -3% | -$28M |
|
8
Johnson & Johnson
JNJ
$427B
| $784M | 1.08% | 6,459,770 +134,322 | +2% | +$16.3M |
|
|
9
AT&T
T
$209B
| $672M | 0.93% | 20,933,062 +5,582,678 | +36% | +$179M |
|
10
Bank of America
BAC
$376B
| $668M | 0.92% | 23,682,920 -791,793 | -3% | -$22.3M |
|
11
UnitedHealth
UNH
$281B
| $665M | 0.92% | 2,710,829 +184,337 | +7% | +$45.2M |
|
12
Wells Fargo
WFC
$263B
| $654M | 0.9% | 11,794,263 -540,868 | -4% | -$30M |
|
13
Berkshire Hathaway Class B
BRK.B
$1.09T
| $636M | 0.88% | 3,408,252 +164,849 | +5% | +$30.8M |
|
|
14
Pfizer
PFE
$141B
| $612M | 0.85% | 16,855,315 +1,502,877 | +10% | +$54.5M |
|
15
Intel
INTC
$107B
| $604M | 0.84% | 12,159,192 -366,935 | -3% | -$18.2M |
|
16
Chevron
CVX
$324B
| $599M | 0.83% | 4,740,485 -188,314 | -4% | -$23.8M |
|
17
Cisco
CSCO
$274B
| $584M | 0.81% | 13,578,730 +401,694 | +3% | +$17.3M |
|
18
Apollo Global Management
APO
$77.9B
| $552M | 0.76% | 17,627,450 -16,379 | -0.1% | -$513K |
|
19
Visa
V
$683B
| $544M | 0.75% | 4,105,299 -12,105 | -0.3% | -$1.6M |
|
20
Home Depot
HD
$405B
| $539M | 0.75% | 2,762,550 -157,660 | -5% | -$30.8M |
|
21
Verizon
VZ
$186B
| $538M | 0.74% | 10,689,344 -84,396 | -0.8% | -$4.25M |
|
22
Procter & Gamble
PG
$368B
| $513M | 0.71% | 6,568,932 +344,874 | +6% | +$26.9M |
|
23
Merck
MRK
$210B
| $469M | 0.65% | 7,718,298 +405,650 | +6% | +$24.6M |
|
24
Citigroup
C
$178B
| $465M | 0.64% | 6,941,311 -32,658 | -0.5% | -$2.19M |
|
25
Mastercard
MA
$538B
| $446M | 0.62% | 2,267,643 +24,398 | +1% | +$4.79M |
|