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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
ALLE icon
526
Allegion
ALLE
$13.5B
$3.75M 0.02%
23,561
-1,817
-7% -$303K
RBC icon
527
RBC Bearings
RBC
$17.4B
$3.74M 0.02%
8,345
-504
-6% -$213K
RGA icon
528
Reinsurance Group of America
RGA
$15.5B
$3.74M 0.02%
18,369
-1,186
-6% -$229K
GGG icon
529
Graco
GGG
$13.2B
$3.73M 0.02%
45,497
-3,811
-8% -$314K
HII icon
530
Huntington Ingalls Industries
HII
$11B
$3.72M 0.02%
10,953
-658
-6% -$204K
LECO icon
531
Lincoln Electric
LECO
$14.1B
$3.69M 0.02%
15,411
-1,083
-7% -$257K
IEX icon
532
IDEX
IEX
$17B
$3.68M 0.02%
20,654
-1,730
-8% -$296K
BBY icon
533
Best Buy
BBY
$19B
$3.67M 0.02%
54,865
-4,513
-8% -$344K
DPZ icon
534
Domino's
DPZ
$11.9B
$3.67M 0.02%
8,804
-826
-9% -$344K
RPM icon
535
RPM International
RPM
$13.8B
$3.66M 0.02%
35,202
-2,776
-7% -$301K
RNR icon
536
RenaissanceRe
RNR
$13.8B
$3.66M 0.02%
13,020
-1,377
-10% -$362K
EVR icon
537
Evercore
EVR
$11.8B
$3.65M 0.02%
10,741
-698
-6% -$224K
OHI icon
538
Omega Healthcare
OHI
$15.3B
$3.65M 0.02%
82,325
-3,310
-4% -$143K
MAS icon
539
Masco
MAS
$14.3B
$3.65M 0.02%
57,511
-4,882
-8% -$317K
TOL icon
540
Toll Brothers
TOL
$14B
$3.65M 0.02%
26,984
-2,069
-7% -$281K
IONQ icon
541
IonQ
IONQ
$11.9B
$3.64M 0.02%
81,059
+3,485
+4% +$195K
JKHY icon
542
Jack Henry & Associates
JKHY
$11.4B
$3.64M 0.02%
19,926
-1,569
-7% -$261K
KTOS icon
543
Kratos Defense & Security Solutions
KTOS
$8.23B
$3.62M 0.02%
47,719
-2,073
-4% -$170K
NTNX icon
544
Nutanix
NTNX
$16.1B
$3.61M 0.02%
69,871
-4,267
-6% -$261K
DKS icon
545
Dick's Sporting Goods
DKS
$18.4B
$3.6M 0.02%
18,181
-1,605
-8% -$350K
NXT icon
546
Nextpower Inc
NXT
$14.1B
$3.6M 0.02%
41,299
-2,442
-6% -$221K
DT icon
547
Dynatrace
DT
$12.7B
$3.59M 0.02%
82,863
-6,265
-7% -$292K
SF
548
Stifel
SF
$12.4B
$3.57M 0.02%
42,791
-2,806
-6% -$224K
HL icon
549
Hecla Mining
HL
$9.49B
$3.55M 0.02%
185,191
-4,536
-2% -$69.3K
MEDP icon
550
Medpace
MEDP
$16.3B
$3.53M 0.02%
6,280
-932
-13% -$529K
20 21
22
23 24

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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
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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.