The California Public Employees’ Retirement System, already hit with multibillion-dollar real estate losses, invested in more than 100 property companies before their value collapsed in the weeks after Oct. 1.

The largest U.S. public pension fund bought shares of 112 real estate investment trusts in the third quarter with a combined value of about $482 million as of Sept. 30, according to a regulatory filing. The holdings are now valued at about $245 million.

Calpers raised its target allocation for real estate to 10 percent from 8 percent last December, according to spokesman Clark McKinley, who declined to comment on the holdings reported in Thursday’s filing. Calpers reported yesterday that the market value of its housing assets had fallen 34 percent to $6.1 billion at June 30.

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