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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
SSNC icon
426
SS&C Technologies
SSNC
$18.9B
$5.28M 0.03%
60,346
-5,148
-8% -$439K
FCNCA icon
427
First Citizens BancShares
FCNCA
$24.7B
$5.26M 0.03%
2,452
-228
-9% -$430K
HEI.A icon
428
HEICO Corp Class A
HEI.A
$36B
$5.26M 0.03%
20,833
-1,524
-7% -$377K
IT icon
429
Gartner
IT
$11.1B
$5.24M 0.03%
20,771
-1,901
-8% -$458K
CHRW icon
430
C.H. Robinson
CHRW
$20.5B
$5.21M 0.03%
32,427
-2,654
-8% -$392K
RGLD icon
431
Royal Gold
RGLD
$16.6B
$5.19M 0.03%
23,370
+2,749
+13% +$545K
GPN icon
432
Global Payments
GPN
$24.1B
$5.16M 0.03%
66,664
-5,628
-8% -$453K
FTV icon
433
Fortive
FTV
$18B
$5.12M 0.03%
92,809
-7,247
-7% -$376K
TRMB icon
434
Trimble
TRMB
$13.6B
$5.11M 0.03%
65,240
-4,821
-7% -$384K
L icon
435
Loews
L
$24.5B
$5.09M 0.03%
48,374
-4,443
-8% -$459K
PKG icon
436
Packaging Corp of America
PKG
$22.2B
$5.09M 0.03%
24,694
-1,930
-7% -$392K
CHTR icon
437
Charter Communications
CHTR
$17.3B
$5.08M 0.03%
24,358
-1,578
-6% -$355K
FTI icon
438
TechnipFMC
FTI
$28.6B
$5.08M 0.03%
114,004
-10,051
-8% -$424K
WWD icon
439
Woodward
WWD
$23B
$5.05M 0.03%
16,692
-874
-5% -$241K
BURL icon
440
Burlington
BURL
$23.4B
$4.98M 0.03%
17,247
-1,436
-8% -$390K
RKT icon
441
Rocket Companies
RKT
$38.8B
$4.96M 0.03%
+255,954
New +$4.58M
SGI
442
Somnigroup International
SGI
$14.4B
$4.95M 0.03%
55,452
-3,953
-7% -$345K
SNA icon
443
Snap-on
SNA
$21.5B
$4.93M 0.03%
14,312
-1,168
-8% -$399K
CG icon
444
Carlyle Group
CG
$16.1B
$4.89M 0.03%
82,810
+13,539
+20% +$769K
THC icon
445
Tenet Healthcare
THC
$22.2B
$4.89M 0.03%
24,625
-2,861
-10% -$578K
CDW icon
446
CDW
CDW
$18.9B
$4.89M 0.03%
35,925
-2,872
-7% -$423K
ZBH icon
447
Zimmer Biomet
ZBH
$18.8B
$4.88M 0.03%
54,323
-4,403
-7% -$417K
ROL icon
448
Rollins
ROL
$18.6B
$4.8M 0.03%
79,905
-6,033
-7% -$354K
IFF icon
449
International Flavors & Fragrances
IFF
$20.3B
$4.74M 0.03%
70,397
-4,918
-7% -$318K
USFD icon
450
US Foods
USFD
$22.5B
$4.74M 0.03%
62,970
-5,489
-8% -$412K
16 17
18
19 20

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PP
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VMPIC
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BCIM
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BBA
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Macquarie Group
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AIMCA
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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.