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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
BLD
576
DELISTED
TopBuild
BLD
$3.29M 0.02%
7,888
-572
-7% -$245K
BJ icon
577
BJs Wholesale Club
BJ
$12.8B
$3.29M 0.02%
36,518
-2,557
-7% -$235K
CACI icon
578
CACI
CACI
$10.8B
$3.28M 0.02%
6,151
-357
-5% -$202K
QXO
579
QXO Inc
QXO
$13.9B
$3.27M 0.02%
169,731
+10,818
+7% +$207K
CPT icon
580
Camden Property Trust
CPT
$11.5B
$3.27M 0.02%
29,722
-1,828
-6% -$190K
REG icon
581
Regency Centers
REG
$14.9B
$3.26M 0.02%
47,295
-3,631
-7% -$255K
MTSI icon
582
MACOM Technology Solutions
MTSI
$17.4B
$3.23M 0.02%
18,852
+161
+0.9% +$25.6K
WSO icon
583
Watsco Inc
WSO
$13.2B
$3.23M 0.02%
9,574
-688
-7% -$246K
PEN icon
584
Penumbra
PEN
$12.6B
$3.2M 0.02%
10,294
-592
-5% -$164K
GH icon
585
Guardant Health
GH
$19.1B
$3.2M 0.02%
31,301
-1,666
-5% -$149K
SWK icon
586
Stanley Black & Decker
SWK
$14.5B
$3.19M 0.02%
42,963
-2,818
-6% -$198K
EPAM icon
587
EPAM Systems
EPAM
$5.58B
$3.19M 0.02%
15,554
-1,210
-7% -$216K
CDE icon
588
Coeur Mining
CDE
$15.1B
$3.17M 0.02%
177,964
-22,793
-11% -$396K
UDR icon
589
UDR
UDR
$12.8B
$3.17M 0.02%
86,292
-6,646
-7% -$236K
ELAN icon
590
Elanco Animal Health
ELAN
$13.2B
$3.16M 0.02%
139,544
-7,419
-5% -$161K
GL icon
591
Globe Life
GL
$14B
$3.15M 0.02%
22,509
-1,915
-8% -$259K
Z icon
592
Zillow
Z
$7.78B
$3.14M 0.02%
46,093
-2,660
-5% -$193K
RVTY icon
593
Revvity
RVTY
$12.6B
$3.13M 0.02%
32,375
-2,550
-7% -$245K
BLDR icon
594
Builders FirstSource
BLDR
$7.29B
$3.12M 0.02%
30,371
-2,348
-7% -$264K
AGNC icon
595
AGNC Investment
AGNC
$12.7B
$3.12M 0.02%
291,189
-10,558
-3% -$109K
RVMD icon
596
Revolution Medicines
RVMD
$38.5B
$3.12M 0.02%
39,161
-2,138
-5% -$140K
DAL icon
597
Delta Air Lines
DAL
$56.7B
$3.12M 0.02%
44,918
-3,320
-7% -$207K
CMA
598
DELISTED
Comerica
CMA
$3.1M 0.02%
35,646
-3,240
-8% -$261K
SNX icon
599
TD Synnex
SNX
$19.9B
$3.08M 0.02%
20,481
-1,482
-7% -$227K
BBIO icon
600
BridgeBio Pharma
BBIO
$16.4B
$3.07M 0.02%
40,178
-1,954
-5% -$128K
22 23
24
25 26

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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.