California Pension Fund Trims Stake in Dominion Energy

CalPERS reduces holdings in utility company by over a quarter

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, has reduced its position in Dominion Energy Inc. (NYSE:D) by 26.4% in the third quarter, according to a recent SEC filing. CalPERS now owns approximately 2.3 million shares of the utilities provider's stock, worth around $143 million.

Why it matters

CalPERS' move to trim its Dominion Energy holdings is notable as the pension fund is one of the most influential institutional investors in the market. The reduction in stake could signal a shift in sentiment around the utility company among major institutional investors.

The details

According to the 13F filing, CalPERS sold 840,405 shares of Dominion Energy during the third quarter, leaving it with a total of 2,341,591 shares. The pension fund now owns about 0.27% of Dominion Energy's outstanding stock. Several other major institutional investors, including AustralianSuper Pty Ltd and Rockefeller Capital Management L.P., have also adjusted their positions in Dominion Energy in recent quarters.

  • CalPERS filed the 13F report disclosing the stake reduction in the third quarter of 2026.

The players

California Public Employees' Retirement System (CalPERS)

The largest public pension fund in the United States, with over $450 billion in assets under management.

Dominion Energy Inc.

A diversified energy company that primarily operates regulated electricity and natural gas utilities, as well as develops energy infrastructure.

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The takeaway

CalPERS' decision to trim its Dominion Energy holdings could signal a broader shift in sentiment around the utility company among major institutional investors. This move bears watching as it may foreshadow changes in the stock's performance and valuation going forward.