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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
TTMI icon
776
TTM Technologies
TTMI
$12B
$1.96M 0.01%
28,473
-1,590
-5% -$104K
ZWS icon
777
Zurn Elkay Water Solutions
ZWS
$8.31B
$1.96M 0.01%
42,095
-2,715
-6% -$127K
RGTI icon
778
Rigetti Computing
RGTI
$4.94B
$1.95M 0.01%
88,035
-7,449
-8% -$243K
AXTA icon
779
Axalta
AXTA
$7.71B
$1.95M 0.01%
60,310
-4,364
-7% -$128K
MOG.A icon
780
Moog Inc Class A
MOG.A
$13.3B
$1.95M 0.01%
7,990
-381
-5% -$83.7K
CBSH icon
781
Commerce Bancshares
CBSH
$8.55B
$1.94M 0.01%
37,017
-2,371
-6% -$124K
SNV
782
DELISTED
Synovus
SNV
$1.93M 0.01%
38,529
-2,607
-6% -$125K
EXLS icon
783
EXL Service
EXLS
$5.21B
$1.91M 0.01%
45,033
-3,100
-6% -$127K
NFG icon
784
National Fuel Gas
NFG
$7.84B
$1.91M 0.01%
23,867
-1,532
-6% -$126K
STAG icon
785
STAG Industrial
STAG
$7.43B
$1.91M 0.01%
51,906
-3,316
-6% -$126K
IDA icon
786
Idacorp
IDA
$7.86B
$1.9M 0.01%
15,036
-949
-6% -$123K
AL
787
DELISTED
Air Lease Corp
AL
$1.9M 0.01%
29,588
-1,829
-6% -$117K
BEN icon
788
Franklin Resources
BEN
$17.2B
$1.89M 0.01%
79,239
-6,290
-7% -$144K
ESTC icon
789
Elastic
ESTC
$6.68B
$1.89M 0.01%
25,068
-1,476
-6% -$120K
VRRM icon
790
Verra Mobility
VRRM
$781M
$1.89M 0.01%
84,348
+37,190
+79% +$849K
MOD icon
791
Modine Manufacturing
MOD
$10.3B
$1.88M 0.01%
14,101
-651
-4% -$97K
OLLI icon
792
Ollie's Bargain Outlet
OLLI
$4.4B
$1.88M 0.01%
17,119
-1,022
-6% -$123K
MKTX icon
793
MarketAxess Holdings
MKTX
$5.78B
$1.87M 0.01%
10,342
-746
-7% -$127K
PCTY icon
794
Paylocity
PCTY
$7.32B
$1.87M 0.01%
12,285
-784
-6% -$117K
SSD icon
795
Simpson Manufacturing
SSD
$7.68B
$1.87M 0.01%
11,598
-779
-6% -$132K
PATH icon
796
UiPath
PATH
$6.41B
$1.87M 0.01%
114,078
-7,787
-6% -$121K
EXP icon
797
Eagle Materials
EXP
$6.35B
$1.87M 0.01%
9,042
-614
-6% -$136K
MTG icon
798
MGIC Investment
MTG
$6.44B
$1.87M 0.01%
63,888
-6,373
-9% -$179K
H icon
799
Hyatt Hotels
H
$16.6B
$1.86M 0.01%
11,619
-911
-7% -$140K
PRIM icon
800
Primoris Services
PRIM
$4.65B
$1.86M 0.01%
14,968
-1,011
-6% -$132K
30 31
32
33 34

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PP
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VMPIC
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BCIM
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BBA
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Macquarie Group
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AIMCA
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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.