California Pension Fund Boosts Stake in Moody's

CalPERS increases holdings in credit rating agency by 3.6% in Q3

Mar. 16, 2026 at 8:19am

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The California Public Employees Retirement System (CalPERS), the largest public pension fund in the United States, increased its stake in Moody's Corporation (NYSE: MCO) by 3.6% during the third quarter of 2026, according to a recent 13F filing with the SEC. CalPERS now owns 298,104 shares of the business services provider, valued at $142 million.

Why it matters

As one of the most influential institutional investors, CalPERS' increased position in Moody's signals confidence in the credit rating agency's long-term prospects. Moody's plays a critical role in assessing the creditworthiness of companies, governments, and financial products, making its performance an important indicator of broader market conditions.

The details

According to the 13F filing, CalPERS purchased an additional 10,434 shares of Moody's during the third quarter, bringing its total stake to 298,104 shares. This represents 0.17% of the company's outstanding shares. The pension fund's increased investment in Moody's comes as the company has faced a mix of analyst ratings, with some firms upgrading the stock while others have lowered their price targets.

  • CalPERS filed its 13F report for the third quarter of 2026 on March 16, 2026.

The players

California Public Employees Retirement System (CalPERS)

The largest public pension fund in the United States, with over $500 billion in assets under management.

Moody's Corporation

A global provider of credit ratings, research, data, and analytics that support financial decision-making and transparency in capital markets.

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The takeaway

CalPERS' increased stake in Moody's underscores the pension fund's confidence in the credit rating agency's long-term prospects, despite some mixed analyst sentiment. As a major institutional investor, CalPERS' moves are closely watched by the broader market.