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California Public Employees Retirement System: 13F portfolio Q2 2026 and what copying it returned
California Public Employees Retirement System's 13F for the quarter ended 2026-06-30 (filed Aug 14, 2026): 400 common-share positions, $177.4B reported. Copying each 13F the day after it was filed returned +24.5% from May 15, 2025 to Nov 6, 2026, against +25.1% for SPY.
Copying the 13F
Each 13F bought at the close of the first trading day after it was filed and held, drifting, until the next one; value-weighted over the common-share positions with a price (94.9% of the portfolio on average); 6 filings since May 13, 2025. Price returns for the clone and SPY alike (no dividends, no costs). A 13F lists only US long positions at quarter end, reported up to 45 days later.
Largest holdings (2026-06-30)
| Ticker | Company | Weight | Value | Change in the quarter |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 11.9% | $21.1B | -8.7% |
| IVV | iShares Core S&P 500 ETF | 6.4% | $11.4B | +1097.6% |
| NVDA | NVIDIA | 5.2% | $9.2B | -32.6% |
| AAPL | Apple | 4.8% | $8.6B | -21.4% |
| MSFT | Microsoft | 3.3% | $5.9B | -27.9% |
| AVGO | Broadcom | 2.7% | $4.7B | -6.1% |
| AMZN | Amazon.com | 2.5% | $4.5B | -14.2% |
| GOOGL | Alphabet | 2.4% | $4.3B | -17.5% |
| GOOG | Alphabet | 1.9% | $3.3B | -9.2% |
| MU | Micron Technology | 1.7% | $2.9B | -20.6% |
| META | Meta Platforms | 1.6% | $2.8B | -11.6% |
| TSLA | Tesla | 1.3% | $2.3B | +7.6% |
| JPM | JPMorgan Chase | 1.0% | $1.9B | -10.4% |
| AMD | Advanced Micro Devices | 1.0% | $1.8B | +11.9% |
| KLAC | KLA | 1.0% | $1.8B | exit |
| LLY | ELI Lilly | 1.0% | $1.7B | -20.6% |
| LRCX | LAM Research | 0.9% | $1.6B | exit |
| AMAT | Applied Materials | 0.9% | $1.5B | +15.5% |
| BRK-B | Berkshire Hathaway | 0.7% | $1.3B | new |
| JNJ | Johnson & Johnson | 0.7% | $1.3B | -17.1% |
| INTC | Intel | 0.7% | $1.2B | -29.5% |
| WMT | Walmart | 0.7% | $1.2B | +17.2% |
| V | Visa | 0.6% | $1.1B | -3.3% |
Biggest adds
- BRK-B new
- ISRG new
- DUK new
- HON new
- HONA new
- LNG new
- AIG new
- NRG new
- MSTR new
- DD new
- THC new
Biggest cuts
- KLAC exit
- LRCX exit
- C exit
- GE exit
- MS exit
- USB exit
- MSI exit
- DAL exit
- CIEN exit
- FERG exit
Track record
Of 130 position changes scored in 130 separate decisions, 48.5% were on the right side of SPY over the next three months (Disclosures → Smart money).
Open in Disclosures → every quarter, the clone month by month, the smart-money record
Source: SEC Form 13F-HR, filer CIK 919079. Not investment advice.