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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
SCI icon
601
Service Corp International
SCI
$11.8B
$3.07M 0.02%
39,338
-3,059
-7% -$245K
DOC icon
602
Healthpeak Properties
DOC
$15.5B
$3.07M 0.02%
190,662
-13,832
-7% -$244K
EXEL icon
603
Exelixis
EXEL
$13.9B
$3.07M 0.02%
69,945
-6,707
-9% -$277K
TXRH icon
604
Texas Roadhouse
TXRH
$13.7B
$3.07M 0.02%
18,466
-1,155
-6% -$195K
LAMR icon
605
Lamar Advertising Co
LAMR
$16.7B
$3.06M 0.02%
24,198
-1,809
-7% -$226K
HAS icon
606
Hasbro
HAS
$13.5B
$3.06M 0.02%
37,339
-2,046
-5% -$160K
ELS icon
607
Equity Lifestyle Properties
ELS
$13.1B
$3.06M 0.02%
50,507
-3,235
-6% -$200K
LYB icon
608
LyondellBasell Industries
LYB
$19.5B
$3.06M 0.02%
70,686
-5,793
-8% -$262K
FDS icon
609
Factset
FDS
$10B
$3.06M 0.02%
10,539
-782
-7% -$220K
ALGN icon
610
Align Technology
ALGN
$12.9B
$3.02M 0.02%
19,369
-1,018
-5% -$146K
RBRK icon
611
Rubrik
RBRK
$14.8B
$3.01M 0.02%
39,358
+4,826
+14% +$370K
MKSI icon
612
MKS Inc
MKSI
$17.4B
$3.01M 0.02%
18,809
-1,018
-5% -$151K
ORI icon
613
Old Republic International
ORI
$10.9B
$3M 0.02%
65,794
-3,687
-5% -$160K
WMS icon
614
Advanced Drainage Systems
WMS
$10.6B
$2.98M 0.02%
20,610
-1,216
-6% -$176K
NYT icon
615
New York Times
NYT
$12.6B
$2.98M 0.02%
42,989
-2,627
-6% -$163K
BMRN icon
616
BioMarin Pharmaceuticals
BMRN
$11.9B
$2.98M 0.02%
50,099
-6,635
-12% -$361K
EHC icon
617
Encompass Health
EHC
$11.3B
$2.97M 0.02%
27,985
-1,842
-6% -$213K
PNW icon
618
Pinnacle West Capital
PNW
$12.4B
$2.96M 0.02%
33,342
-1,989
-6% -$178K
WTRG icon
619
Essential Utilities
WTRG
$11.5B
$2.95M 0.02%
77,013
-5,592
-7% -$220K
MANH icon
620
Manhattan Associates
MANH
$11.9B
$2.94M 0.02%
16,950
-1,003
-6% -$183K
AMH icon
621
American Homes 4 Rent
AMH
$12.1B
$2.93M 0.02%
91,398
-6,685
-7% -$214K
WBS icon
622
Webster Financial
WBS
$12.3B
$2.91M 0.02%
46,251
-3,531
-7% -$210K
DCI icon
623
Donaldson
DCI
$10.7B
$2.89M 0.02%
32,614
-1,866
-5% -$162K
MRNA icon
624
Moderna
MRNA
$21.6B
$2.89M 0.02%
97,942
-5,034
-5% -$137K
AES icon
625
AES
AES
$10.6B
$2.88M 0.02%
201,028
-9,639
-5% -$136K
23 24
25
26 27

Similar funds

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
Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return

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.