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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
MAA icon
476
Mid-America Apartment Communities
MAA
$15.4B
$4.46M 0.02%
32,110
-2,517
-7% -$335K
INVH icon
477
Invitation Homes
INVH
$17.7B
$4.43M 0.02%
159,585
-12,400
-7% -$346K
JLL icon
478
Jones Lang LaSalle
JLL
$16.3B
$4.43M 0.02%
13,165
-883
-6% -$277K
XPO icon
479
XPO
XPO
$23.5B
$4.42M 0.02%
32,501
-2,359
-7% -$321K
ATI icon
480
ATI
ATI
$25.6B
$4.41M 0.02%
38,416
-3,327
-8% -$324K
CRS icon
481
Carpenter Technology
CRS
$25.8B
$4.4M 0.02%
13,976
-754
-5% -$227K
BWXT icon
482
BWX Technologies
BWXT
$15.5B
$4.4M 0.02%
25,444
-1,590
-6% -$298K
J icon
483
Jacobs Solutions
J
$15.9B
$4.36M 0.02%
32,937
-2,539
-7% -$372K
RPRX icon
484
Royalty Pharma
RPRX
$25.9B
$4.35M 0.02%
112,608
+528
+0.5% +$20.1K
ASTS icon
485
AST SpaceMobile
ASTS
$17.6B
$4.35M 0.02%
59,904
+1,164
+2% +$83.1K
SMCI icon
486
Super Micro Computer
SMCI
$18.4B
$4.32M 0.02%
147,665
-1,661
-1% -$68.4K
EWBC icon
487
East-West Bancorp
EWBC
$17.9B
$4.28M 0.02%
38,116
-2,648
-6% -$281K
PINS icon
488
Pinterest
PINS
$13.4B
$4.26M 0.02%
164,705
-10,950
-6% -$315K
TXT icon
489
Textron
TXT
$14.7B
$4.26M 0.02%
48,891
-4,365
-8% -$365K
RIVN icon
490
Rivian
RIVN
$22B
$4.26M 0.02%
216,038
-12,809
-6% -$203K
SUI icon
491
Sun Communities
SUI
$15.2B
$4.26M 0.02%
34,358
-3,432
-9% -$430K
DECK icon
492
Deckers Outdoor
DECK
$13.2B
$4.23M 0.02%
40,772
-3,355
-8% -$314K
DKNG icon
493
DraftKings
DKNG
$11.6B
$4.22M 0.02%
122,556
-10,020
-8% -$330K
LII icon
494
Lennox International
LII
$14.4B
$4.22M 0.02%
8,685
-736
-8% -$369K
FOXA icon
495
Fox Class A
FOXA
$24.5B
$4.22M 0.02%
57,703
-5,532
-9% -$361K
ECHO
496
EchoStar
ECHO
$24.4B
$4.2M 0.02%
38,611
-2,927
-7% -$238K
RS icon
497
Reliance Steel & Aluminium
RS
$20.7B
$4.17M 0.02%
14,427
-1,109
-7% -$312K
ITT icon
498
ITT
ITT
$17.5B
$4.16M 0.02%
23,951
+662
+3% +$119K
JBHT icon
499
JB Hunt Transport Services
JBHT
$25.5B
$4.13M 0.02%
21,250
-1,568
-7% -$269K
TLN
500
Talen Energy Corp
TLN
$16B
$4.07M 0.02%
10,855
-574
-5% -$223K
18 19
20
21 22

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CM
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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
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
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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.