CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM
Institutional investor · Portfolio as of Q3 2025
Top Holdings1,089 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
VANGUARD S&P 500 ETF | 26M | $15.9B | 9.5% | $533.54 | +14.03% | 4 qtrssince 2024-Q4 | Increased 62 |
NVIDIA CORP | 66.1M | $12.3B | 7.4% | $118.16 | +53.89% | 28 qtrssince 2018-Q4 | Increased 63 |
MICROSOFT CORP | 19.4M | $10B | 6.0% | $200.80 | +155.80% | 28 qtrssince 2018-Q4 | Decreased 0 |
APPLE INC | 35.3M | $9B | 5.4% | $121.05 | +109.57% | 28 qtrssince 2018-Q4 | Decreased 0 |
META PLATFORMS INC-CLASS A | 5.9M | $4.4B | 2.6% | $293.67 | +152.93% | 28 qtrssince 2018-Q4 | Increased 60 |
AMAZON.COM INC | 19.2M | $4.2B | 2.5% | $132.70 | +67.43% | 28 qtrssince 2018-Q4 | Increased 57 |
BROADCOM INC | 11.6M | $3.8B | 2.3% | $164.77 | +99.11% | 28 qtrssince 2018-Q4 | Increased 57 |
ALPHABET INC-CL A | 14.1M | $3.4B | 2.0% | $112.46 | +116.88% | 28 qtrssince 2018-Q4 | Decreased 0 |
ALPHABET INC-CL C | 11.3M | $2.8B | 1.7% | $105.79 | +130.83% | 28 qtrssince 2018-Q4 | Decreased 0 |
TESLA INC | 5.2M | $2.3B | 1.4% | $234.35 | +89.12% | 28 qtrssince 2018-Q4 | Increased 52 |
JPMORGAN CHASE & CO | 6.6M | $2.1B | 1.2% | $133.21 | +134.77% | 28 qtrssince 2018-Q4 | Increased 60 |
JPMORGAN ACTIVE HIGH YIELD ETF | 39.9M | $2B | 1.2% | $47.17 | +2.10% | 2 qtrssince 2025-Q2 | Unchanged 0 |
BERKSHIRE HATHAWAY INC-CL B | 3.6M | $1.8B | 1.1% | $248.72 | +100.73% | 28 qtrssince 2018-Q4 | Decreased 0 |
ELI LILLY & CO | 1.9M | $1.5B | 0.9% | $204.61 | +270.56% | 28 qtrssince 2018-Q4 | Decreased 0 |
JOHNSON & JOHNSON | 7.7M | $1.4B | 0.9% | $114.94 | +57.01% | 28 qtrssince 2018-Q4 | Increased 45 |
VISA INC-CLASS A SHARES | 3.5M | $1.2B | 0.7% | $153.18 | +121.10% | 28 qtrssince 2018-Q4 | Decreased 0 |
ABBVIE INC | 5M | $1.1B | 0.7% | $115.91 | +93.75% | 28 qtrssince 2018-Q4 | Increased 46 |
COSTCO WHOLESALE CORP | 1.2M | $1.1B | 0.6% | $546.83 | +68.29% | 28 qtrssince 2018-Q4 | Increased 51 |
MASTERCARD INC - A | 1.9M | $1.1B | 0.6% | $292.36 | +93.78% | 28 qtrssince 2018-Q4 | Increased 45 |
BANK OF AMERICA CORP | 19.3M | $994.7M | 0.6% | $29.02 | +74.93% | 28 qtrssince 2018-Q4 | Increased 50 |
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM manages $167B across 1089 positions as of Q3 2025. Top holdings: VOO (9.5%), NVDA (7.4%), MSFT (6.0%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 5/5.0.
Active quarter - 36 new positions, 61 exits, 666 increased. Top move: NVDA (INCREASED, conviction 63). Portfolio: $167.0B across 1089 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer