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CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM

400 Q ST SUITE 4800, SACRAMENTO, CA 95811 • 9167953400

Q1 2026 · Filed 2026-05-06
Market Value
$162.1B
-7.1%
Holdings
1,092
+17
New Purchases
23
Added To
413
Closed
45
Reduced
610
Top 10 Concentration
43.6%
Turnover
6.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VOO 12.40% 11.35% +1.05% $20.1B
IVV 0.51% 0.00% +0.51% $828M
LRCX 0.77% 0.38% +0.39% $1.3B
MU 0.66% 0.36% +0.31% $1.1B
XOM 0.82% 0.55% +0.27% $1.3B
AAPL 5.90% 5.67% +0.24% $9.6B
AMZN 2.80% 2.65% +0.15% $4.5B
CVX 0.44% 0.30% +0.14% $716M
WMT 0.67% 0.55% +0.12% $1.1B
KLAC 0.54% 0.42% +0.12% $876M
INTC 0.34% 0.24% +0.10% $547M
COP 0.24% 0.14% +0.10% $383M
CAT 0.38% 0.29% +0.10% $623M
AMAT 0.39% 0.30% +0.09% $633M
JPHY 1.23% 1.16% +0.08% $2.0B

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 5.00% 5.85% -0.85% $8.1B
NVDA 7.35% 8.16% -0.81% $11.9B
GOOG 1.82% 2.22% -0.40% $3.0B
META 1.98% 2.20% -0.22% $3.2B
CRM 0.25% 0.44% -0.19% $400M
AVGO 2.54% 2.70% -0.16% $4.1B
GOOGL 2.60% 2.76% -0.16% $4.2B
TSLA 1.19% 1.35% -0.16% $1.9B
BRK-B 0.82% 0.98% -0.15% $1.3B
MDT 0.13% 0.26% -0.14% $208M
PEP 0.31% 0.44% -0.13% $503M
INTU 0.18% 0.31% -0.13% $299M
IBM 0.37% 0.49% -0.12% $601M
LLY 1.03% 1.14% -0.11% $1.7B
ISRG 0.18% 0.29% -0.11% $286M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 31.6%
Financial Services 24.2%
Communication Services 8.7%
Healthcare 8.2%
Consumer Cyclical 7.9%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 56 $104.7B 64.6%
Large Cap 629 $51.4B 31.7%
Mid Cap 384 $6.1B 3.7%
Small Cap 21 $9M 0.0%
Micro Cap 2 $918K 0.0%

Portfolio Analytics

Avg Market Cap
$74.3B
Median Market Cap
$14.4B
Avg P/E
33.0
Median P/E
22.6
Avg Dividend Yield
0.02%
Avg Beta
1.03
# Stocks
1,089
# ETFs / Funds
3

Top Holdings (1,092 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VOO 12.40% 33,635,939 $20.1B $597.55 $290M +2,049,100 +6.5%
2 NVDA 7.35% 68,335,407 $11.9B $174.40 -$2.3B -8,040,355 -10.5%
3 AAPL 5.90% 37,713,677 $9.6B $253.79 -$318M +1,338,411 +3.7%
4 MSFT 5.00% 21,906,086 $8.1B $370.17 -$2.1B +781,973 +3.7%
5 AMZN 2.80% 21,785,734 $4.5B $208.27 -$91M +1,735,857 +8.7%
6 GOOGL 2.60% 14,637,980 $4.2B $287.56 -$604M -740,459 -4.8%
7 AVGO 2.54% 13,291,551 $4.1B $309.51 -$599M -324,634 -2.4%
8 META 1.98% 5,615,460 $3.2B $572.13 -$632M -209,033 -3.6%
9 GOOG 1.82% 10,306,585 $3.0B $286.86 -$917M -2,037,981 -16.5%
10 JPHY 1.23% 39,896,037 $2.0B $50.15 -$18M
11 TSLA 1.19% 5,178,868 $1.9B $371.75 -$427M -52,687 -1.0%
12 JPM 1.14% 6,308,333 $1.9B $294.16 -$323M -452,986 -6.7%
13 LLY 1.03% 1,814,693 $1.7B $919.77 -$324M -39,894 -2.1%
14 JNJ 0.90% 5,994,988 $1.5B $244.44 -$74M -1,444,253 -19.4%
15 BRK-B 0.82% 2,782,309 $1.3B $479.20 -$372M -609,988 -18.0%
16 XOM 0.82% 7,823,133 $1.3B $169.66 $370M -127,552 -1.6%
17 LRCX 0.77% 5,870,899 $1.3B $213.66 $587M +1,972,277 +50.6%
18 WMT 0.67% 8,775,480 $1.1B $124.28 $132M +169,774 +2.0%
19 MU 0.66% 3,188,608 $1.1B $337.84 $455M +1,008,116 +46.2%
20 V 0.59% 3,176,693 $960M $302.24 -$204M -142,740 -4.3%
21 COST 0.58% 941,708 $938M $996.43 -$19M -168,482 -15.2%
22 CSCO 0.58% 12,054,410 $935M $77.59 $45M +492,925 +4.3%
23 BAC 0.55% 18,221,359 $888M $48.75 -$191M -1,393,195 -7.1%
24 MRK 0.55% 7,383,088 $888M $120.29 -$14M -1,185,318 -13.8%
25 KLAC 0.54% 594,637 $876M $1,472.41 $137M -13,454 -2.2%
26 MA 0.53% 1,731,445 $865M $499.66 -$183M -103,965 -5.7%
27 IVV 0.51% 1,267,527 $828M $653.21 +1,267,527 NEW
28 ABBV 0.50% 3,720,076 $809M $217.49 -$150M -478,533 -11.4%
29 KO 0.47% 9,958,572 $757M $76.05 $55M -81,505 -0.8%
30 NFLX 0.46% 7,751,395 $745M $96.15 -$30M -520,990 -6.3%
31 VZ 0.45% 14,417,054 $724M $50.20 $26M -2,719,814 -15.9%
32 CVX 0.44% 3,461,111 $716M $206.90 $197M +56,317 +1.6%
33 PG 0.44% 4,946,602 $714M $144.44 -$41M -327,915 -6.2%
34 HD 0.43% 2,118,312 $697M $328.89 -$135M -298,690 -12.4%
35 AMGN 0.43% 1,970,670 $693M $351.85 $10M -116,919 -5.6%
36 MCD 0.39% 2,046,460 $636M $310.79 -$35M -148,599 -6.8%
37 AMAT 0.39% 1,852,818 $633M $341.79 $104M -205,983 -10.0%
38 CAT 0.38% 879,849 $623M $708.46 $121M +3,361 +0.4%
39 IBM 0.37% 2,478,266 $601M $242.39 -$255M -410,545 -14.2%
40 UNH 0.36% 2,186,539 $592M $270.59 -$213M -252,456 -10.3%
41 GS 0.36% 698,118 $591M $845.99 $61M +95,210 +15.8%
42 PLTR 0.35% 3,856,384 $564M $146.28 -$170M -271,889 -6.6%
43 GE 0.35% 1,987,484 $564M $283.77 -$70M -72,171 -3.5%
44 AMD 0.35% 2,759,933 $561M $203.43 -$67M -174,088 -5.9%
45 INTC 0.34% 12,386,924 $547M $44.13 $136M +1,247,702 +11.2%
46 WFC 0.34% 6,852,010 $545M $79.61 -$73M +215,578 +3.2%
47 RTX 0.34% 2,820,225 $544M $192.90 $2M -132,648 -4.5%
48 PEP 0.31% 3,241,048 $503M $155.29 -$268M -2,132,310 -39.7%
49 GILD 0.31% 3,584,898 $500M $139.37 $45M -116,758 -3.1%
50 DE 0.30% 851,611 $480M $563.30 $89M +13,398 +1.6%
51 T 0.29% 16,274,183 $472M $28.99 -$50M -4,713,219 -22.5%
52 C 0.29% 4,123,967 $468M $113.41 $39M +451,319 +12.3%
53 ABT 0.28% 4,467,825 $459M $102.67 -$194M -738,755 -14.2%
54 BRK-A 0.28% 627 $450M $718,140.00 -$36M -17 -2.6%
55 NEE 0.26% 4,570,516 $425M $92.88 $45M -158,320 -3.4%
56 QCOM 0.26% 3,224,104 $415M $128.78 -$65M +418,153 +14.9%
57 ORCL 0.25% 2,776,440 $408M $147.11 -$226M -480,337 -14.8%
58 LIN 0.25% 816,545 $405M $495.76 $4M -122,934 -13.1%
59 UBER 0.25% 5,620,059 $404M $71.93 $73M +1,568,224 +38.7%
60 CRM 0.25% 2,144,702 $400M $186.67 -$365M -745,310 -25.8%
61 MS 0.25% 2,422,284 $399M $164.57 $20M +287,056 +13.4%
62 GEV 0.25% 455,866 $398M $872.90 $89M -16,952 -3.6%
63 APH 0.24% 3,119,106 $394M $126.35 -$165M -1,017,912 -24.6%
64 AXP 0.24% 1,273,396 $385M $302.48 $24M +298,444 +30.6%
65 COP 0.24% 2,898,034 $383M $132.00 $141M +313,395 +12.1%
66 LOW 0.23% 1,589,184 $375M $236.28 -$25M -71,566 -4.3%
67 DHR 0.22% 1,858,071 $352M $189.60 $13M +374,965 +25.3%
68 TXN 0.22% 1,797,414 $349M $194.14 $65M +157,852 +9.6%
69 BKNG 0.21% 81,489 $343M $4,210.32 $3M +18,038 +28.4%
70 TMO 0.21% 696,589 $342M $491.53 -$79M -30,305 -4.2%
71 TJX 0.21% 2,137,646 $341M $159.70 $10M -22,259 -1.0%
72 ADI 0.21% 1,057,616 $336M $318.14 $74M +90,908 +9.4%
73 LMT 0.21% 550,545 $333M $604.39 $84M +35,813 +7.0%
74 UNP 0.20% 1,343,908 $326M $242.62 $12M -11,933 -0.9%
75 ACN 0.20% 1,618,587 $321M $198.29 -$122M -31,976 -1.9%
76 BMY 0.20% 5,233,948 $317M $60.65 $42M +121,813 +2.4%
77 NXPI 0.19% 1,592,213 $313M $196.86 $70M +470,254 +41.9%
78 ETN 0.19% 867,133 $310M $357.67 $62M +88,139 +11.3%
79 PFE 0.19% 10,840,185 $304M $28.08 -$44M -3,133,806 -22.4%
80 TMUS 0.19% 1,449,168 $304M $210.03 $50M +198,287 +15.8%
81 DIS 0.19% 3,147,240 $303M $96.38 -$78M -208,848 -6.2%
82 INTU 0.18% 692,446 $299M $432.38 -$244M -127,425 -15.5%
83 ISRG 0.18% 620,792 $286M $460.99 -$218M -268,935 -30.2%
84 TT 0.18% 686,691 $286M $416.74 $110M +234,666 +51.9%
85 SCHW 0.18% 3,026,417 $284M $93.98 -$78M -603,645 -16.6%
86 PGR 0.17% 1,424,466 $282M $198.24 -$130M -384,431 -21.2%
87 WELL 0.17% 1,420,440 $281M $197.71 -$28M -241,733 -14.5%
88 MCK 0.17% 324,022 $280M $865.36 -$14M -35,067 -9.8%
89 CB 0.17% 829,916 $270M $325.93 -$82M -298,832 -26.5%
90 CMCSA 0.17% 9,351,906 $268M $28.71 $4M +501,731 +5.7%
91 ADBE 0.16% 1,097,690 $267M $243.08 -$123M -15,583 -1.4%
92 SPGI 0.16% 622,785 $265M $425.34 -$68M -13,346 -2.1%
93 ANET 0.16% 2,148,280 $264M $122.78 -$32M -111,856 -5.0%
94 BLK 0.16% 273,657 $263M $961.71 -$40M -9,553 -3.4%
95 MRVL 0.16% 2,637,984 $261M $99.05 $102M +758,319 +40.3%
96 PLD 0.16% 1,946,118 $257M $132.18 -$53M -486,148 -20.0%
97 HON 0.15% 1,105,154 $250M $226.03 $24M -54,150 -4.7%
98 DUK 0.15% 1,884,247 $247M $130.94 $4M -184,066 -8.9%
99 CME 0.15% 816,357 $241M $295.35 -$10M -103,084 -11.2%
100 EXC 0.15% 4,879,876 $239M $49.02 $11M -365,454 -7.0%

New Positions

SymbolValue% Port
IVV $828M 0.51%
SATS $25M 0.02%
HL $24M 0.01%
CRWV $21M 0.01%
ROIV $19M 0.01%
IREN $18M 0.01%
TTMI $17M 0.01%
ARWR $16M 0.01%
PRIM $14M 0.01%
BMNR $14M 0.01%
CRCL $13M 0.01%
SITM $12M 0.01%
FORM $11M 0.01%
SANM $11M 0.01%
SMTC $11M 0.01%

Sold Out Positions

SymbolValue% Port
HOG —%
QTWO —%
WK —%
BCC —%
GLOB —%
CXT —%
PRGO —%
KD —%
KMPR —%
BRBR —%
PNFP —%
SLG —%
RHI —%
PAG —%
CHH —%
View SEC EDGAR Filings for CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms