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ASRS

Arizona State Retirement System Portfolio holdings

AUM $17.1B
1-Year Est. Return 30.52%
This Fund
S&P 500
This Quarter Est. Return
+4.14%
1 Year Est. Return
+30.52%
3 Year Est. Return
+106.18%
5 Year Est. Return
+143.14%
10 Year Est. Return
+524.74%
AUM
$18.4B
AUM Growth
-$381M
Cap. Flow
-$771M
Cap. Flow %
-4.2%
Top 10 Hldgs %
34.89%
Holding
2,130
New
49
Increased
153
Reduced
1,846
Closed
82

Top Buys

Rank Stock Value
1
AMRZ
Amrize Ltd
AMRZ
+$6.97M
2
Q
Qnity Electronics Inc
Q
+$4.89M
3
CRWV
CoreWeave
CRWV
+$4.87M
4
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$4.61M
5
RKT icon
Rocket Companies
RKT
+$4.58M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$44.9M
2
NVDA icon
NVIDIA
NVDA
+$40.9M
3
MSFT icon
Microsoft
MSFT
+$34.3M
4
TSLA icon
Tesla
TSLA
+$22.7M
5
AMZN icon
Amazon
AMZN
+$18.8M

Sector Composition

Rank Sector Weight
1 Technology 33.37%
2 Financials 13.17%
3 Consumer Discretionary 10.67%
4 Communication Services 10.25%
5 Healthcare 10.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSTR icon
251
Strategy Inc
MSTR
$35.7B
$11M 0.06%
72,607
-3,631
-5% -$836K
EBAY icon
252
eBay
EBAY
$50.4B
$10.9M 0.06%
125,408
-10,829
-8% -$937K
CCI icon
253
Crown Castle
CCI
$33.4B
$10.9M 0.06%
122,825
-4,398
-3% -$404K
PRU icon
254
Prudential Financial
PRU
$42.6B
$10.9M 0.06%
96,576
-7,914
-8% -$849K
TRGP icon
255
Targa Resources
TRGP
$57.6B
$10.9M 0.06%
58,970
-5,014
-8% -$845K
DHI icon
256
D.R. Horton
DHI
$40.7B
$10.9M 0.06%
75,458
-5,284
-7% -$804K
HIG icon
257
Hartford Financial Services
HIG
$39.2B
$10.6M 0.06%
77,029
-6,918
-8% -$913K
A icon
258
Agilent Technologies
A
$39.2B
$10.6M 0.06%
77,796
-6,132
-7% -$881K
IQV icon
259
IQVIA
IQV
$39.1B
$10.5M 0.06%
46,683
-4,548
-9% -$990K
FISV
260
Fiserv Inc
FISV
$28.8B
$10.4M 0.06%
154,166
-7,761
-5% -$650K
VMC icon
261
Vulcan Materials
VMC
$35.2B
$10.3M 0.06%
36,256
-2,821
-7% -$828K
MLM icon
262
Martin Marietta Materials
MLM
$32.4B
$10.3M 0.06%
16,577
-1,292
-7% -$803K
NUE icon
263
Nucor
NUE
$58.5B
$10.3M 0.06%
62,975
-5,144
-8% -$773K
PAYX icon
264
Paychex
PAYX
$41.4B
$10.3M 0.06%
91,414
-3,270
-3% -$383K
GEHC icon
265
GE HealthCare
GEHC
$31.6B
$10.2M 0.06%
124,969
-9,911
-7% -$772K
CPRT icon
266
Copart
CPRT
$27.4B
$10.1M 0.06%
258,231
-10,029
-4% -$416K
INSM icon
267
Insmed
INSM
$22B
$10.1M 0.05%
57,931
+1,767
+3% +$322K
STT icon
268
State Street
STT
$50.2B
$10M 0.05%
77,859
-6,128
-7% -$734K
WAB icon
269
Wabtec
WAB
$49.4B
$10M 0.05%
46,939
-3,711
-7% -$762K
KDP icon
270
Keurig Dr Pepper
KDP
$43B
$9.92M 0.05%
354,203
-22,605
-6% -$621K
FLUT icon
271
Flutter Entertainment
FLUT
$17.7B
$9.86M 0.05%
45,871
-6,443
-12% -$1.45M
XYZ
272
Block Inc
XYZ
$49.2B
$9.85M 0.05%
151,328
-12,773
-8% -$881K
ED icon
273
Consolidated Edison
ED
$40.4B
$9.82M 0.05%
98,866
-7,473
-7% -$742K
ACGL icon
274
Arch Capital
ACGL
$34.5B
$9.81M 0.05%
102,264
-8,673
-8% -$794K
PCG icon
275
PG&E
PCG
$39.2B
$9.68M 0.05%
602,576
-46,958
-7% -$750K
9 10
11
12 13

Similar funds

CM
Caption Management Oklahoma City, Oklahoma $17.1B AUM 70.99% 1-Year Est. Return
PP
Prudential plc London, England, United Kingdom $17.1B AUM 15.7% 1-Year Est. Return
VMPIC
Varma Mutual Pension Insurance Co Helsinki, Finland $17B AUM 24.09% 1-Year Est. Return
BCIM
British Columbia Investment Management Victoria, British Columbia, Canada $17B AUM 31.69% 1-Year Est. Return
BBA
Baker Bros. Advisors New York $17.4B AUM 131.5% 1-Year Est. Return
Macquarie Group
Macquarie Group Sydney, NSW 2000, Australia $16.8B AUM 27.39% 1-Year Est. Return
AIMCA
Alberta Investment Management Corp (AIMCo) Edmonton, Alberta, Canada $16.7B AUM 23.27% 1-Year Est. Return
FCM
Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return

Arizona State Retirement System's Q4 2025 Portfolio in Review

As of Q4 2025, Arizona State Retirement System held 2,130 positions worth $18.4B, down 2% from $18.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Arizona State Retirement System withdrew a net $771M in Q4 2025, closing 82 positions and reducing 1,846 holdings. Its most notable exit was Kellanova, an estimated $6.72M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Arizona State Retirement System opened a new position in Amrize Ltd worth $7.39M.

  • Arizona State Retirement System's largest Q4 2025 buy was Amrize Ltd: 136,647 shares worth $7.39M.
  • Arizona State Retirement System added most to Omnicom Group in Q4 2025, an estimated $2.3M increase.
  • Arizona State Retirement System's biggest Q4 2025 reduction was Apple, cutting an estimated $44.9M.
  • Arizona State Retirement System fully exited Kellanova in Q4 2025, selling an estimated $6.72M.
  • Arizona State Retirement System's ten largest holdings make up 35% of its $18.4B portfolio in Q4 2025.
  • Arizona State Retirement System opened 49 new positions and closed 82 in Q4 2025.
  • Arizona State Retirement System's portfolio value fell 2% quarter-over-quarter to $18.4B.

Based on Arizona State Retirement System's 13F filing for Q4 2025, filed 28 Jan 2026.