CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM
Institutional investor · Portfolio as of Q4 2025
Top Holdings1,086 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
VANGUARD S&P 500 ETF | 31.6M | $19.8B | 11.3% | $551.03 | +14.64% | 5 qtrssince 2024-Q4 | Increased 74 |
NVIDIA CORP | 76.4M | $14.2B | 8.1% | $127.53 | +47.05% | 29 qtrssince 2018-Q4 | Increased 71 |
MICROSOFT CORP | 21.1M | $10.2B | 5.8% | $224.29 | +117.35% | 29 qtrssince 2018-Q4 | Increased 68 |
APPLE INC | 36.4M | $9.9B | 5.7% | $125.51 | +116.02% | 29 qtrssince 2018-Q4 | Increased 64 |
ALPHABET INC-CL A | 15.4M | $4.8B | 2.8% | $129.45 | +142.44% | 29 qtrssince 2018-Q4 | Increased 60 |
BROADCOM INC | 13.6M | $4.7B | 2.7% | $191.44 | +80.12% | 29 qtrssince 2018-Q4 | Increased 64 |
AMAZON.COM INC | 20M | $4.6B | 2.6% | $136.68 | +70.12% | 29 qtrssince 2018-Q4 | Increased 57 |
ALPHABET INC-CL C | 12.3M | $3.9B | 2.2% | $122.79 | +156.17% | 29 qtrssince 2018-Q4 | Increased 60 |
META PLATFORMS INC-CLASS A | 5.8M | $3.8B | 2.2% | $293.67 | +126.77% | 29 qtrssince 2018-Q4 | Decreased 0 |
TESLA INC | 5.2M | $2.4B | 1.3% | $235.15 | +93.25% | 29 qtrssince 2018-Q4 | Increased 50 |
JPMORGAN CHASE & CO | 6.8M | $2.2B | 1.2% | $137.28 | +134.54% | 29 qtrssince 2018-Q4 | Increased 51 |
JPMORGAN ACTIVE HIGH YIELD ETF | 39.9M | $2B | 1.2% | $47.17 | +3.42% | 3 qtrssince 2025-Q2 | Unchanged 0 |
ELI LILLY & CO | 1.9M | $2B | 1.1% | $204.61 | +422.70% | 29 qtrssince 2018-Q4 | Decreased 0 |
BERKSHIRE HATHAWAY INC-CL B | 3.4M | $1.7B | 1.0% | $248.72 | +102.52% | 29 qtrssince 2018-Q4 | Decreased 0 |
JOHNSON & JOHNSON | 7.4M | $1.5B | 0.9% | $114.94 | +80.01% | 29 qtrssince 2018-Q4 | Decreased 0 |
VISA INC-CLASS A SHARES | 3.3M | $1.2B | 0.7% | $153.18 | +127.59% | 29 qtrssince 2018-Q4 | Decreased 0 |
BANK OF AMERICA CORP | 19.6M | $1.1B | 0.6% | $29.46 | +84.70% | 29 qtrssince 2018-Q4 | Increased 46 |
MASTERCARD INC - A | 1.8M | $1B | 0.6% | $292.36 | +97.21% | 29 qtrssince 2018-Q4 | Decreased 0 |
ABBVIE INC | 4.2M | $959.3M | 0.5% | $115.91 | +92.58% | 29 qtrssince 2018-Q4 | Decreased 0 |
WALMART INC | 8.6M | $958.8M | 0.5% | $51.32 | +118.08% | 29 qtrssince 2018-Q4 | Decreased 0 |
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM manages $174.9B across 1086 positions as of Q4 2025. Top holdings: VOO (11.3%), NVDA (8.1%), MSFT (5.8%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 5/5.0.
Active quarter - 4 new positions, 7 exits, 451 increased. Top move: VOO (INCREASED, conviction 74). Portfolio: $174.9B across 1086 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