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 |
Gilead Sciences
GILD
|
$475M |
| 2 |
Vertex Pharmaceuticals
VRTX
|
$463M |
| 3 |
Regeneron Pharmaceuticals
REGN
|
$408M |
| 4 |
Adobe
ADBE
|
$333M |
| 5 |
T-Mobile US
TMUS
|
$205M |
Top Sells
| 1 |
Apple
AAPL
|
$372M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
$146M |
| 3 |
Sysco
SYY
|
$144M |
| 4 |
AGN
Allergan plc
AGN
|
$134M |
| 5 |
Welltower
WELL
|
$124M |
Sector Composition
| 1 | Technology | 20.98% |
| 2 | Healthcare | 14.54% |
| 3 | Financials | 12.83% |
| 4 | Consumer Discretionary | 10.65% |
| 5 | Consumer Staples | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Shares Change % | Capital Flow | |
|---|---|---|---|---|---|---|
1
Microsoft
MSFT
$3.77T
| $3.43B | 3.38% | 16,850,303 -554,263 | -3% | -$113M |
|
|
2
Apple
AAPL
$3.45T
| $3.35B | 3.3% | 9,171,757 -1,018,741 | -10% | -$372M |
|
3
Amazon
AMZN
$2.44T
| $2.62B | 2.58% | 949,319 +8,281 | +0.9% | +$22.8M |
|
4
Johnson & Johnson
JNJ
$427B
| $1.37B | 1.35% | 9,752,233 +210,973 | +2% | +$29.7M |
|
5
Verizon
VZ
$186B
| $1.37B | 1.35% | 24,816,734 +1,180,393 | +5% | +$65.1M |
|
6
PepsiCo
PEP
$204B
| $1.27B | 1.25% | 9,598,484 +430,695 | +5% | +$57M |
|
7
Visa
V
$683B
| $1.23B | 1.21% | 6,363,375 +133,827 | +2% | +$25.9M |
|
8
Meta Platforms (Facebook)
META
$1.86T
| $1.22B | 1.21% | 5,387,153 +2,351 | +0% | +$534K |
|
9
Procter & Gamble
PG
$368B
| $1.14B | 1.12% | 9,532,469 +273,187 | +3% | +$32.7M |
|
10
Coca-Cola
KO
$297B
| $1.11B | 1.1% | 24,882,363 +1,207,765 | +5% | +$54M |
|
|
11
Alphabet (Google) Class A
GOOGL
$2.57T
| $1.04B | 1.02% | 732,470 -103,011 | -12% | -$146M |
|
12
NextEra Energy, Inc.
NEE
$148B
| $968M | 0.95% | 4,031,042 +214,306 | +6% | +$51.5M |
|
13
Alibaba
BABA
$322B
| $895M | 0.88% | 4,150,485 +55,605 | +1% | +$12M |
|
|
14
Alphabet (Google) Class C
GOOG
$2.58T
| $871M | 0.86% | 616,090 +88,806 | +17% | +$126M |
|
15
AT&T
T
$209B
| $827M | 0.82% | 27,351,579 +107,834 | +0.4% | +$3.26M |
|
16
McDonald's
MCD
$224B
| $823M | 0.81% | 4,458,824 +171,403 | +4% | +$31.6M |
|
|
17
Gilead Sciences
GILD
$140B
| $810M | 0.8% | 10,528,157 +6,175,064 | +142% | +$475M |
|
|
18
Adobe
ADBE
$151B
| $807M | 0.8% | 1,853,168 +765,634 | +70% | +$333M |
|
19
Accenture
ACN
$162B
| $796M | 0.78% | 3,705,487 +157,927 | +4% | +$33.9M |
|
20
Home Depot
HD
$405B
| $795M | 0.78% | 3,172,793 +3,236 | +0.1% | +$811K |
|
21
Merck
MRK
$210B
| $783M | 0.77% | 10,128,378 +257,537 | +3% | +$19.9M |
|
22
Walmart
WMT
$774B
| $765M | 0.75% | 6,384,265 +231,687 | +4% | +$27.8M |
|
23
American Tower
AMT
$95.5B
| $690M | 0.68% | 2,668,608 +124,526 | +5% | +$32.2M |
|
24
Eli Lilly
LLY
$657B
| $688M | 0.68% | 4,190,141 +245,800 | +6% | +$40.4M |
|
25
Cisco
CSCO
$274B
| $686M | 0.68% | 14,706,741 +77,911 | +0.5% | +$3.63M |
|