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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
LIN icon
51
Linde
LIN
$238B
$57M 0.31%
133,700
-3,768
-3% -$1.61M
PEP icon
52
PepsiCo
PEP
$194B
$55.1M 0.3%
384,202
-16,201
-4% -$2.38M
INTU icon
53
Intuit
INTU
$85.4B
$52.2M 0.28%
78,730
-2,733
-3% -$1.81M
QCOM icon
54
Qualcomm
QCOM
$172B
$51.5M 0.28%
300,937
-14,963
-5% -$2.56M
T icon
55
AT&T
T
$169B
$50.7M 0.28%
2,040,155
-61,208
-3% -$1.55M
GEV icon
56
GE Vernova
GEV
$251B
$50.2M 0.27%
76,880
-2,837
-4% -$1.73M
AMGN icon
57
Amgen
AMGN
$212B
$49.6M 0.27%
151,395
-5,634
-4% -$1.79M
SCHW
58
Charles Schwab
SCHW
$184B
$49.2M 0.27%
492,113
-11,921
-2% -$1.13M
TJX icon
59
TJX Companies
TJX
$177B
$49.1M 0.27%
319,560
-6,193
-2% -$916K
BKNG icon
60
Booking.com
BKNG
$154B
$48.8M 0.27%
227,950
-9,625
-4% -$1.98M
VZ icon
61
Verizon
VZ
$201B
$48.5M 0.26%
1,191,291
-40,001
-3% -$1.62M
BA icon
62
Boeing
BA
$175B
$47.7M 0.26%
219,577
-639
-0.3% -$131K
NEE icon
63
NextEra Energy
NEE
$187B
$47.3M 0.26%
588,634
-12,875
-2% -$1.07M
ACN icon
64
Accenture
ACN
$99.6B
$47M 0.26%
175,311
-6,569
-4% -$1.67M
INTC icon
65
Intel
INTC
$439B
$47M 0.26%
1,273,875
+21
+0% +$793
APH icon
66
Amphenol
APH
$177B
$46.9M 0.26%
347,038
-6,236
-2% -$834K
SPGI icon
67
S&P Global
SPGI
$124B
$46.4M 0.25%
88,703
-2,990
-3% -$1.48M
UBER icon
68
Uber
UBER
$144B
$45.9M 0.25%
562,268
-17,950
-3% -$1.62M
NOW icon
69
ServiceNow
NOW
$113B
$44.9M 0.24%
292,807
-9,528
-3% -$1.63M
KLAC icon
70
KLA
KLAC
$253B
$44.8M 0.24%
368,480
-17,710
-5% -$2.08M
TXN icon
71
Texas Instruments
TXN
$255B
$44.5M 0.24%
256,584
-8,722
-3% -$1.49M
BLK icon
72
Blackrock
BLK
$171B
$44.5M 0.24%
41,588
-1,407
-3% -$1.54M
APP icon
73
Applovin
APP
$139B
$43.9M 0.24%
65,104
-2,290
-3% -$1.44M
COF icon
74
Capital One
COF
$129B
$43.8M 0.24%
180,862
-6,089
-3% -$1.36M
GILD icon
75
Gilead Sciences
GILD
$167B
$43.2M 0.23%
351,709
-11,561
-3% -$1.4M
1 2
3
4 5

Similar funds

CM
Caption Management Oklahoma City, Oklahoma $17.1B AUM 70.99% 1-Year Est. Return
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.