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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
SYY icon
276
Sysco
SYY
$40.8B
$9.68M 0.05%
131,394
-11,599
-8% -$882K
RMD icon
277
ResMed
RMD
$31.1B
$9.65M 0.05%
40,076
-3,297
-8% -$843K
VTR icon
278
Ventas
VTR
$47.5B
$9.64M 0.05%
124,635
-7,696
-6% -$581K
ARES icon
279
Ares Management
ARES
$28.1B
$9.6M 0.05%
59,381
-4,372
-7% -$681K
KEYS icon
280
Keysight
KEYS
$50.7B
$9.58M 0.05%
47,131
-3,568
-7% -$662K
VEEV icon
281
Veeva Systems
VEEV
$33.8B
$9.57M 0.05%
42,883
-3,086
-7% -$819K
FIS icon
282
Fidelity National Information Services
FIS
$24.2B
$9.53M 0.05%
143,368
-10,066
-7% -$664K
MCHP icon
283
Microchip Technology
MCHP
$38.8B
$9.41M 0.05%
147,704
-11,468
-7% -$707K
OTIS icon
284
Otis Worldwide
OTIS
$27.9B
$9.41M 0.05%
107,728
-7,557
-7% -$676K
MDB icon
285
MongoDB
MDB
$25.8B
$9.36M 0.05%
22,294
-1,862
-8% -$677K
WEC icon
286
WEC Energy
WEC
$36.3B
$9.31M 0.05%
88,310
-5,624
-6% -$623K
EXPE icon
287
Expedia Group
EXPE
$36.5B
$9.2M 0.05%
32,484
-3,512
-10% -$868K
KMB icon
288
Kimberly-Clark
KMB
$37.6B
$9.19M 0.05%
91,066
-5,836
-6% -$638K
SNDK
289
Sandisk
SNDK
$150B
$9.18M 0.05%
38,693
-2,059
-5% -$412K
EQT icon
290
EQT Corp
EQT
$32.9B
$9.18M 0.05%
171,286
-4,045
-2% -$227K
XYL icon
291
Xylem
XYL
$28.5B
$9.1M 0.05%
66,806
-4,951
-7% -$712K
GRMN
292
Garmin
GRMN
$56.9B
$9.1M 0.05%
44,838
-3,490
-7% -$759K
KVUE icon
293
Kenvue
KVUE
$38B
$9.08M 0.05%
526,502
-34,861
-6% -$570K
CIEN icon
294
Ciena
CIEN
$46.8B
$9.06M 0.05%
38,722
-3,110
-7% -$603K
FIX icon
295
Comfort Systems
FIX
$53.5B
$9.02M 0.05%
9,667
-772
-7% -$713K
CCL icon
296
Carnival Corporation Ltd
CCL
$38.1B
$8.82M 0.05%
288,769
-23,294
-7% -$650K
WTW icon
297
Willis Towers Watson
WTW
$29.8B
$8.79M 0.05%
26,737
-2,486
-9% -$814K
HPE icon
298
Hewlett Packard
HPE
$58.8B
$8.7M 0.05%
362,383
-25,494
-7% -$601K
IR icon
299
Ingersoll Rand
IR
$33.1B
$8.64M 0.05%
109,080
-9,831
-8% -$776K
MTB icon
300
M&T Bank
MTB
$36.3B
$8.63M 0.05%
42,833
-4,519
-10% -$863K
10 11
12
13 14

Similar funds

CM
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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.