Latest news with #CalPERS
Bloomberg
3 days ago
- Business
- Bloomberg
Asset Owners With $9.5 Trillion Call for Stopping Deforestation
A coalition of pension funds and insurance companies holding a combined $9.5 trillion of assets has called on investors to ensure their portfolios aren't supporting or enabling deforestation. The Net-Zero Asset Owner Alliance, whose signatories include Allianz SE and the California Public Employees' Retirement System, said in a report published Wednesday that investors should ensure they have a firm grasp of their exposure to deforestation and take steps to 'phase out' any harms to forests stemming from their investments in commodities such as beef, cocoa and palm oil by 2030.
Yahoo
29-05-2025
- Business
- Yahoo
The Top Holding for CalPERS, America's Largest Public Pension Fund, Is the Closest Thing You'll Find to a Guaranteed Investment on Wall Street
The quarterly filing of Form 13Fs allows investors to see which stocks and exchange-traded funds (ETFs) the brightest money managers and biggest funds have been buying and selling. The California Public Employees' Retirement System (CalPERS) has $143 billion spread across north of 1,100 securities (stocks and ETFs). CalPERS' largest position is a security that's never declined, on a total return basis, over rolling 20-year periods since 1900. 10 stocks we like better than Vanguard S&P 500 ETF › There's nothing more important to investors than data -- and they're rarely, if ever, lacking for it on Wall Street. Between earnings reports, regular U.S. economic data releases, and Donald Trump's administration changing its tune on tariff and trade policy on a seemingly regular basis, there's always something for investors to dive into and learn. May 15 marked one of these pivotal data releases for investors. No later than 45 calendar days following the end to a quarter, institutional investors managing at least $100 million are required to file Form 13F with the Securities and Exchange Commission. A 13F provides a snapshot for investors that allows them to see which stocks, exchange-traded funds (ETFs), and (select) options contracts Wall Street's most-prominent money managers have been buying and selling. It's a nice way to uncover which securities and trends are piquing the attention of big-money investors. But there's a big world of investment dollars that extends beyond Berkshire Hathaway's Warren Buffett and select billionaire fund managers -- and it pays to know what these funds are holding. For example, the California Public Employees' Retirement System, commonly known as CalPERS, manages north of $500 billion in assets on behalf of its more than 2 million members, which includes public employees, retirees, and their families. CalPERS spreads its investment capital across a broad swath of asset classes, including fixed income (e.g., Treasury bonds), private debt, private equity, and of course, public equities (stocks and ETFs). Though CalPERS closed the March-ended quarter with north of 1,100 securities in its portfolio, it's the top holding for America's largest pension fund that really stands out and delivers with long-term consistency. Based on CalPERS' 13F, its fund managers were overseeing approximately $143.1 billion in invested assets as of the end of March. With this being a highly diversified pension fund, only 14 of these positions equated to 1% or more of invested assets. But what a majority of these leading positions have in common is that they're Wall Street's most-influential businesses. Excluding Saudi Aramco, which isn't traded on U.S. stock exchanges, eight of the 10 public companies to have reached a $1 trillion (or greater) valuation are among these 14 positions, with only Tesla and Taiwan Semiconductor Manufacturing missing. For instance, Apple (NASDAQ: AAPL) is the second-largest holding for CalPERS (5.4% of invested assets), based on its 13F. The roughly 34.66 million shares held equated to almost $7.7 billion in market value at the end of March. Though Apple's growth heyday might be in the rearview mirror, it's still a cash-generating machine thanks to its top-selling iPhone and its high-margin, subscription-driven services segment. Also, no public company has repurchased more of its own stock than Apple. Artificial intelligence (AI) giant Nvidia (NASDAQ: NVDA), which briefly became the most-valuable public company by market cap, is CalPERS' No. 4 holding by market value (4.4% of invested assets). Nvidia's Hopper (H100) graphics processing unit (GPU) and Blackwell GPU architecture are primarily responsible for overseeing generative AI solutions and the training of large language models in high-compute data centers. By one estimate, AI can add $15.7 trillion to the global economy come 2030, and Nvidia is at the center of this growth trend. The point being that many of CalPERS' biggest positions are tied to businesses that are instrumental to the ongoing success of the American and global economy. But it's CalPERS' top holding that has an as-of-now perfect track record of delivering for long-term investors. Though CalPERS' $143.1 billion portfolio is primarily comprised of individual stocks, the largest holding for America's top pension fund is an ETF: the Vanguard S&P 500 ETF (NYSEMKT: VOO) (7.9% of invested assets). The beauty of ETFs is they can provide instant diversification or concentration, depending on your preference, with the click of a button. In this instance, the Vanguard S&P 500 ETF attempts to mirror the performance of the benchmark S&P 500 (SNPINDEX: ^GSPC). Instead of having to buy 503 separate securities -- three S&P 500 companies have two classes of shares, which is why there are currently 503 components and not an even 500 -- and weight them appropriately to effectively match the returns of the S&P 500, the Vanguard S&P 500 ETF does this for investors with the click of the buy button. In return for this ease of investment, investors pay various fees in the form of the net expense ratio. These fees cover the costs of overseeing the fund, marketing, and so on. Generally, the more active the turnover in the fund, the higher the net expense ratio. The two biggest S&P 500 index funds by net assets are the Vanguard S&P 500 ETF and the SPDR S&P 500 ETF Trust (NYSEMKT: SPY). The SPDR S&P 500 ETF Trust was the first ETF to be listed on a national stock exchange. Although the Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust effectively mirror the returns of the benchmark S&P 500, the two have one notable difference: their net expense ratios. The SPDR S&P 500 ETF Trust has a low net expense ratio of 0.09%. This means $0.90 of every $1,000 invested will be kept for various fees. Meanwhile, the Vanguard S&P 500 ETF has a net expense ratio of just 0.03%. While six hundredths of a percent might not sound like much, it can add up over multiple decades as your investment grows. But what really makes the Vanguard S&P 500 ETF special is its, thus far, guaranteed long-term returns. To preface, nothing is concretely a given when it comes to the stock market. Neither I nor any analyst can tell you with 100% certainty what comes next for stocks. But S&P 500 tracking indexes like the Vanguard S&P 500 ETF are the closest thing to an investment guarantee on Wall Street. Every year, the analysts at Crestmont Research update a data set that examines the rolling 20-year total returns, including dividends, of the benchmark S&P 500 dating back to the start of the 20th century. Even though the S&P wasn't officially incepted until 1923, researchers were able to track the performance of its components in other major indexes from 1900 to 1923 to obtain the relevant total return data. This resulted in 106 rolling 20-year periods to examine (1900-1919, 1901-1920, 1902-1921, and so on, to 2005-2024). What Crestmont Research found was that all 106 rolling 20-year periods produced a positive annualized return. Hypothetically, if you had purchased an S&P 500 tracking index at any point between 1900 and 2005 and simply held for 20 years, you made money every time. It didn't matter if you purchased at the top of a bull market, held through a recession or depression, or navigated through a war or pandemic -- you would have grown your wealth every time. Arguably no stock market investment has delivered with more long-term consistency than S&P 500 index funds – and no S&P 500 ETF has a more favorable net expense ratio than the Vanguard S&P 500 ETF. Before you buy stock in Vanguard S&P 500 ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Vanguard S&P 500 ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,389!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $830,492!* Now, it's worth noting Stock Advisor's total average return is 982% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, Nvidia, Taiwan Semiconductor Manufacturing, Tesla, and Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy. The Top Holding for CalPERS, America's Largest Public Pension Fund, Is the Closest Thing You'll Find to a Guaranteed Investment on Wall Street was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
29-05-2025
- Business
- Globe and Mail
The Top Holding for CalPERS, America's Largest Public Pension Fund, Is the Closest Thing You'll Find to a Guaranteed Investment on Wall Street
There's nothing more important to investors than data -- and they're rarely, if ever, lacking for it on Wall Street. Between earnings reports, regular U.S. economic data releases, and Donald Trump's administration changing its tune on tariff and trade policy on a seemingly regular basis, there's always something for investors to dive into and learn. May 15 marked one of these pivotal data releases for investors. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » No later than 45 calendar days following the end to a quarter, institutional investors managing at least $100 million are required to file Form 13F with the Securities and Exchange Commission. A 13F provides a snapshot for investors that allows them to see which stocks, exchange-traded funds (ETFs), and (select) options contracts Wall Street's most-prominent money managers have been buying and selling. It's a nice way to uncover which securities and trends are piquing the attention of big-money investors. But there's a big world of investment dollars that extends beyond Berkshire Hathaway 's Warren Buffett and select billionaire fund managers -- and it pays to know what these funds are holding. For example, the California Public Employees' Retirement System, commonly known as CalPERS, manages north of $500 billion in assets on behalf of its more than 2 million members, which includes public employees, retirees, and their families. CalPERS spreads its investment capital across a broad swath of asset classes, including fixed income (e.g., Treasury bonds), private debt, private equity, and of course, public equities (stocks and ETFs). Though CalPERS closed the March-ended quarter with north of 1,100 securities in its portfolio, it's the top holding for America's largest pension fund that really stands out and delivers with long-term consistency. America's largest pension fund owns pieces of many of America's most-influential businesses Based on CalPERS' 13F, its fund managers were overseeing approximately $143.1 billion in invested assets as of the end of March. With this being a highly diversified pension fund, only 14 of these positions equated to 1% or more of invested assets. But what a majority of these leading positions have in common is that they're Wall Street's most-influential businesses. Excluding Saudi Aramco, which isn't traded on U.S. stock exchanges, eight of the 10 public companies to have reached a $1 trillion (or greater) valuation are among these 14 positions, with only Tesla and Taiwan Semiconductor Manufacturing missing. For instance, Apple (NASDAQ: AAPL) is the second-largest holding for CalPERS (5.4% of invested assets), based on its 13F. The roughly 34.66 million shares held equated to almost $7.7 billion in market value at the end of March. Though Apple's growth heyday might be in the rearview mirror, it's still a cash-generating machine thanks to its top-selling iPhone and its high-margin, subscription-driven services segment. Also, no public company has repurchased more of its own stock than Apple. Artificial intelligence (AI) giant Nvidia (NASDAQ: NVDA), which briefly became the most-valuable public company by market cap, is CalPERS' No. 4 holding by market value (4.4% of invested assets). Nvidia's Hopper (H100) graphics processing unit (GPU) and Blackwell GPU architecture are primarily responsible for overseeing generative AI solutions and the training of large language models in high-compute data centers. By one estimate, AI can add $15.7 trillion to the global economy come 2030, and Nvidia is at the center of this growth trend. The point being that many of CalPERS' biggest positions are tied to businesses that are instrumental to the ongoing success of the American and global economy. But it's CalPERS' top holding that has an as-of-now perfect track record of delivering for long-term investors. CalPERS' top holding has (thus far) been a guaranteed moneymaker Though CalPERS' $143.1 billion portfolio is primarily comprised of individual stocks, the largest holding for America's top pension fund is an ETF: the Vanguard S&P 500 ETF (NYSEMKT: VOO) (7.9% of invested assets). The beauty of ETFs is they can provide instant diversification or concentration, depending on your preference, with the click of a button. In this instance, the Vanguard S&P 500 ETF attempts to mirror the performance of the benchmark S&P 500 (SNPINDEX: ^GSPC). Instead of having to buy 503 separate securities -- three S&P 500 companies have two classes of shares, which is why there are currently 503 components and not an even 500 -- and weight them appropriately to effectively match the returns of the S&P 500, the Vanguard S&P 500 ETF does this for investors with the click of the buy button. In return for this ease of investment, investors pay various fees in the form of the net expense ratio. These fees cover the costs of overseeing the fund, marketing, and so on. Generally, the more active the turnover in the fund, the higher the net expense ratio. The two biggest S&P 500 index funds by net assets are the Vanguard S&P 500 ETF and the SPDR S&P 500 ETF Trust (NYSEMKT: SPY). The SPDR S&P 500 ETF Trust was the first ETF to be listed on a national stock exchange. Although the Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust effectively mirror the returns of the benchmark S&P 500, the two have one notable difference: their net expense ratios. The SPDR S&P 500 ETF Trust has a low net expense ratio of 0.09%. This means $0.90 of every $1,000 invested will be kept for various fees. Meanwhile, the Vanguard S&P 500 ETF has a net expense ratio of just 0.03%. While six hundredths of a percent might not sound like much, it can add up over multiple decades as your investment grows. But what really makes the Vanguard S&P 500 ETF special is its, thus far, guaranteed long-term returns. To preface, nothing is concretely a given when it comes to the stock market. Neither I nor any analyst can tell you with 100% certainty what comes next for stocks. But S&P 500 tracking indexes like the Vanguard S&P 500 ETF are the closest thing to an investment guarantee on Wall Street. ^SPX data by YCharts. The above S&P 500 chart only goes back as far as 1950. Every year, the analysts at Crestmont Research update a data set that examines the rolling 20-year total returns, including dividends, of the benchmark S&P 500 dating back to the start of the 20th century. Even though the S&P wasn't officially incepted until 1923, researchers were able to track the performance of its components in other major indexes from 1900 to 1923 to obtain the relevant total return data. This resulted in 106 rolling 20-year periods to examine (1900-1919, 1901-1920, 1902-1921, and so on, to 2005-2024). What Crestmont Research found was that all 106 rolling 20-year periods produced a positive annualized return. Hypothetically, if you had purchased an S&P 500 tracking index at any point between 1900 and 2005 and simply held for 20 years, you made money every time. It didn't matter if you purchased at the top of a bull market, held through a recession or depression, or navigated through a war or pandemic -- you would have grown your wealth every time. Arguably no stock market investment has delivered with more long-term consistency than S&P 500 index funds – and no S&P 500 ETF has a more favorable net expense ratio than the Vanguard S&P 500 ETF. Should you invest $1,000 in Vanguard S&P 500 ETF right now? Before you buy stock in Vanguard S&P 500 ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vanguard S&P 500 ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,389!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $830,492!* Now, it's worth noting Stock Advisor 's total average return is982% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025
Globe and Mail
28-05-2025
- Business
- Globe and Mail
Fund Managers Dump Apple and Nvidia Stock as Meta Claims the Power Seat
Fund managers aren't just rotating — they're reshuffling their entire portfolios. From Apple (AAPL) to Nvidia (NVDA), the tech darlings of the last cycle are getting clipped as active mutual funds move into old-school financials and dependable healthcare names. A new report from Goldman Sachs (GS) shows that some of the biggest actively managed large-cap mutual funds, overseeing a massive $3.5 trillion, are unloading tech and rotating into banks, insurers, and dividend-heavy blue chips. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter And it's not just small cuts. Apple is now one of the most underweighted stocks in these funds. Fund managers held just 3.3% versus the benchmark's 6.3%. Nvidia was also trimmed to 3.6%, down from the 5% benchmark weight. Apple Takes a Hit as CalPERS Joins the Sell-Off The California Public Employees' Retirement System (CalPERS), the largest U.S. pension with over $540 billion in assets, also sold 5.1 million Apple shares in Q1. This brought its total holdings down to 34.7 million. The fund said the move was based on systematic, not emotional, decisions — but it coincides with a tough year for Apple. Shares of AAPL are down 11% in Q1 and another 12% in Q2 so far, massively underperforming the S&P 500, which has gained 3.4% this quarter. Add in Trump's tariff threats on iPhones built in India and Vietnam, and the road ahead for Apple looks even bumpier. Meta, AMD, and McDonald's Get a Seat at the Table While Apple and Nvidia are getting cut, CalPERS is loading up on Meta (META), AMD (AMD), and McDonald's (MCD). The fund added 579,150 shares of Meta, lifting its total to 5.5 million shares. Meta's digital ad biz is holding strong, and the company's now fighting back against a wave of scams on its platforms. AMD dropped 15% in Q1, but CalPERS doubled down, buying 325,180 more shares to bring its stake to 3.3 million. The chipmaker beat earnings, raised guidance, and signed a major AI computing deal in Saudi Arabia. It's bounced 7.4% since March. Meanwhile, McDonald's got a happy boost. The pension bought 494,290 more shares, bringing its total stake to 3.5 million. Despite weaker U.S. traffic, the burger chain is leaning into branded promos like its Minecraft Happy Meal, which helped Q2 sales bounce. The stock is up 7.8% in Q1 and holding flat in Q2. Financials and Healthcare Step In as Tech Stalls Goldman's report also highlights a sharp overweight into Wells Fargo (WFC), Bank of America (BAC), Visa (V), and Mastercard (MA) — all classic Buffett-style financials that are riding a wave of Fed rate optimism and Trump-era deregulation bets. The XLF ETF (XLF) is up nearly 4% this year, showing the sector's resilience. In healthcare, Cigna is up 15% YTD and Medtronic is holding firm. But not all bets paid off. UnitedHealth Group was another overweight that's now down over 40%, thanks to earnings drama and management issues. Rotation or Red Flag? Active fund managers are clearly moving away from momentum. But this isn't just about trimming froth. It's a deeper rotation into value and defensives — a hedge against volatility and a bet on post-tech-cycle growth. With 50% of large-cap mutual funds now beating benchmarks, compared to the historic 37%, it looks like this move is working. For now. See the Stock Comparison Breakdown Want a side-by-side breakdown of all the major stocks in play? Use the TipRanks Stock Comparison Tool to explore price targets, smart scores, and analyst consensus for names like Apple, Nvidia, Meta, AMD, McDonald's, and more. Click on the image below to dive into the data: Disclaimer & Disclosure Report an Issue
Time of India
26-05-2025
- Business
- Time of India
Reshaping $540 billion portfolio: America's largest pension fund shuffles billions as CalPERS trims Apple stake, adds Meta, AMD, McDonald's
Why Sell Apple? Why Buy Meta, AMD, and McDonald's? Live Events Meta by 579,150 shares (now 5.5 million total). Meta's advertising business is still going strong, and even though the stock dipped slightly early in the year, it's bounced back. AMD by 325,180 shares (now 3.3 million total). The chipmaker had a rough first quarter but then recovered. It just announced a big new project to build AI data centers in Saudi Arabia, which excited investors. McDonald's by 494,290 shares (now 3.5 million total). While foot traffic at US locations slowed, a popular Happy Meal promotion with 'The Minecraft Movie' helped turn things around. What Does This Mean? Leadership Changes Ahead The road ahead (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The California Public Employees' Retirement System, known as CalPERS, has made some big changes to where it puts its money. CalPERS is the largest public pension fund in the US, managing over $540 billion to support retirement benefits for more than 2 million California public quietly shifted some of its biggest investments in early 2025 as it sold more than 5 million shares of Apple , a company whose stock dropped 11 percent in the first quarter of this year. Meanwhile, it bought more shares in Meta (the company behind Facebook and Instagram), Advanced Micro Devices (AMD), and McDonald' has been struggling in the market lately. On top of that, President Donald Trump recently criticized Apple for building iPhones in India instead of the US, even threatening a 25 percent tariff on iPhones made in foreign factories. That could make Apple devices more expensive for American buyers. CalPERS still owns plenty of Apple shares at 34.7 million, but decided it was time to trim increased its stake in:CalPERS said it doesn't make decisions based on short-term news. 'Our public assets investments are index-oriented and optimized using systematic and quantitative investment strategies, not driven by any single period's events,' the fund said in a other words, CalPERS takes the long view, using data and strategy to guide its more going on behind the scenes. Dan Bienvenue, who helped lead CalPERS' investment decisions for over 20 years, left in April. Now, CalPERS is looking for a new Deputy Chief Investment Officer to manage its public stock and bond investments. The new leader will play a big role in shaping where CalPERS puts its money next.'The DCIO will provide thought leadership, identify emerging trends, develop forward-thinking investment approaches, ensure a strong governance and organizational culture exists for investment decision making, ensure alignment with CalPERS long-term strategic objectives, and coordinate inclusion of public market asset class research, analysis, and information into Total Fund investment decision making and drive our CalPERS mission,' the job posting everyday people, especially public employees in California, these decisions matter. CalPERS' job is to keep retirement funds growing safely. These investment moves show how the fund is navigating a changing economy, political pressure, and global tech trends, all while staying focused on the long term.
