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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
HSIC icon
701
Henry Schein
HSIC
$9.7B
$2.3M 0.01%
30,421
-2,855
-9% -$201K
PCOR icon
702
Procore
PCOR
$8.12B
$2.3M 0.01%
31,596
-1,509
-5% -$112K
FRT icon
703
Federal Realty Investment Trust
FRT
$10.7B
$2.29M 0.01%
22,761
-1,488
-6% -$147K
ROIV icon
704
Roivant Sciences
ROIV
$24.8B
$2.29M 0.01%
105,685
+15,161
+17% +$299K
CUBE icon
705
CubeSmart
CUBE
$9.34B
$2.29M 0.01%
63,470
-3,984
-6% -$151K
ALSN icon
706
Allison Transmission
ALSN
$9.57B
$2.28M 0.01%
23,304
-1,629
-7% -$143K
AMG icon
707
Affiliated Managers Group
AMG
$9.65B
$2.28M 0.01%
7,910
-503
-6% -$130K
IDCC icon
708
InterDigital
IDCC
$7.84B
$2.28M 0.01%
7,158
-501
-7% -$177K
TAP icon
709
Molson Coors Class B
TAP
$7.79B
$2.26M 0.01%
48,410
-4,063
-8% -$187K
ATR icon
710
AptarGroup
ATR
$8.54B
$2.25M 0.01%
18,473
-1,069
-5% -$132K
CTRE icon
711
CareTrust REIT
CTRE
$9.84B
$2.25M 0.01%
62,222
-2,967
-5% -$106K
OSK icon
712
Oshkosh
OSK
$8.82B
$2.25M 0.01%
17,872
-1,176
-6% -$151K
UGI icon
713
UGI
UGI
$7.76B
$2.24M 0.01%
59,807
-3,648
-6% -$129K
OMF icon
714
OneMain Financial
OMF
$7.32B
$2.23M 0.01%
33,083
-2,121
-6% -$129K
ADC icon
715
Agree Realty
ADC
$9.42B
$2.23M 0.01%
31,021
-2,866
-8% -$209K
GNRC icon
716
Generac Holdings
GNRC
$11.3B
$2.23M 0.01%
16,381
-1,101
-6% -$178K
BRX icon
717
Brixmor Property Group
BRX
$9.67B
$2.23M 0.01%
84,893
-5,673
-6% -$150K
AHR icon
718
American Healthcare REIT
AHR
$10.7B
$2.22M 0.01%
47,224
+27
+0.1% +$1.25K
CNH
719
CNH Industrial
CNH
$12.8B
$2.22M 0.01%
240,610
-17,799
-7% -$178K
SANM icon
720
Sanmina
SANM
$9.83B
$2.22M 0.01%
14,775
-1,029
-7% -$152K
PAYC icon
721
Paycom
PAYC
$7.53B
$2.21M 0.01%
13,896
-1,468
-10% -$260K
AVAV icon
722
AeroVironment
AVAV
$7.42B
$2.21M 0.01%
9,145
-391
-4% -$123K
VMI icon
723
Valmont Industries
VMI
$9.2B
$2.21M 0.01%
5,489
-450
-8% -$183K
RNAM
724
DELISTED
Avidity Biosciences
RNAM
$2.2M 0.01%
30,510
-1,392
-4% -$89.9K
HALO icon
725
Halozyme
HALO
$9.88B
$2.2M 0.01%
32,658
-3,799
-10% -$256K
27 28
29
30 31

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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.