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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
CNP icon
351
CenterPoint Energy
CNP
$28.3B
$6.87M 0.04%
179,132
-13,358
-7% -$521K
ES icon
352
Eversource Energy
ES
$28.1B
$6.86M 0.04%
101,815
-6,615
-6% -$464K
STE icon
353
Steris
STE
$22.9B
$6.84M 0.04%
26,971
-2,186
-7% -$549K
GIS icon
354
General Mills
GIS
$20.2B
$6.81M 0.04%
146,556
-14,157
-9% -$673K
VLTO icon
355
Veralto
VLTO
$24.1B
$6.8M 0.04%
68,187
-4,883
-7% -$494K
EL icon
356
Estee Lauder
EL
$30.4B
$6.74M 0.04%
64,392
-4,666
-7% -$453K
FE icon
357
FirstEnergy
FE
$28.4B
$6.73M 0.04%
150,326
-11,378
-7% -$522K
IRM icon
358
Iron Mountain
IRM
$35.9B
$6.72M 0.04%
81,050
-6,206
-7% -$581K
JBL icon
359
Jabil
JBL
$30.1B
$6.71M 0.04%
29,435
-2,183
-7% -$466K
RF icon
360
Regions Financial
RF
$26.4B
$6.63M 0.04%
244,758
-20,922
-8% -$534K
HAL icon
361
Halliburton
HAL
$26.1B
$6.62M 0.04%
234,145
-20,354
-8% -$537K
TDY icon
362
Teledyne Technologies
TDY
$29.2B
$6.57M 0.04%
12,861
-974
-7% -$513K
DLTR icon
363
Dollar Tree
DLTR
$24.8B
$6.54M 0.04%
53,133
-5,288
-9% -$567K
STLD icon
364
Steel Dynamics
STLD
$36.2B
$6.5M 0.04%
38,364
-3,370
-8% -$535K
HUBB icon
365
Hubbell
HUBB
$24.4B
$6.47M 0.04%
14,570
-1,182
-8% -$518K
RDDT icon
366
Reddit
RDDT
$34.3B
$6.4M 0.03%
27,834
-3,083
-10% -$648K
ZS icon
367
Zscaler
ZS
$24.9B
$6.38M 0.03%
28,354
-1,611
-5% -$455K
LYV icon
368
Live Nation Entertainment
LYV
$42.9B
$6.35M 0.03%
44,589
-3,474
-7% -$499K
PPG icon
369
PPG Industries
PPG
$24.9B
$6.35M 0.03%
61,965
-5,265
-8% -$529K
PHM icon
370
Pultegroup
PHM
$25.2B
$6.35M 0.03%
54,126
-4,975
-8% -$610K
EIX icon
371
Edison International
EIX
$30.3B
$6.34M 0.03%
105,608
-8,021
-7% -$460K
BRO icon
372
Brown & Brown
BRO
$25.1B
$6.33M 0.03%
79,468
-8,334
-9% -$695K
EQR icon
373
Equity Residential
EQR
$25.8B
$6.27M 0.03%
99,465
-6,952
-7% -$426K
WAT icon
374
Waters Corp
WAT
$37.3B
$6.21M 0.03%
16,361
-1,226
-7% -$451K
FLEX icon
375
Flex
FLEX
$37.7B
$6.2M 0.03%
102,603
-7,604
-7% -$470K
13 14
15
16 17

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PP
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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
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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
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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.