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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
CAVA icon
901
CAVA Group
CAVA
$7.74B
$1.51M 0.01%
25,719
-1,661
-6% -$92.6K
TFX icon
902
Teleflex
TFX
$5.86B
$1.5M 0.01%
12,320
-757
-6% -$91.7K
BOOT icon
903
Boot Barn
BOOT
$4.68B
$1.5M 0.01%
8,495
-558
-6% -$104K
WTM icon
904
White Mountains Insurance
WTM
$5.25B
$1.49M 0.01%
718
-44
-6% -$86K
KRYS icon
905
Krystal Biotech
KRYS
$10.8B
$1.49M 0.01%
6,038
-359
-6% -$75.6K
UFPI icon
906
UFP Industries
UFPI
$4.87B
$1.49M 0.01%
16,348
-1,483
-8% -$136K
AAON icon
907
Aaon
AAON
$7.17B
$1.48M 0.01%
19,378
-1,065
-5% -$98.4K
OLED icon
908
Universal Display
OLED
$3.76B
$1.48M 0.01%
12,651
-691
-5% -$89.6K
POR icon
909
Portland General Electric
POR
$5.8B
$1.47M 0.01%
30,637
-1,769
-5% -$83.5K
CHRD icon
910
Chord Energy
CHRD
$7.78B
$1.47M 0.01%
15,860
-1,224
-7% -$113K
RLI icon
911
RLI Corp
RLI
$5.62B
$1.47M 0.01%
22,937
-1,504
-6% -$94.5K
KRG icon
912
Kite Realty
KRG
$5.88B
$1.46M 0.01%
61,056
-3,989
-6% -$90.6K
MMSI icon
913
Merit Medical Systems
MMSI
$4.97B
$1.46M 0.01%
16,582
-895
-5% -$76.2K
CNX icon
914
CNX Resources
CNX
$4.9B
$1.45M 0.01%
39,545
-3,281
-8% -$117K
ACA icon
915
Arcosa
ACA
$7.13B
$1.45M 0.01%
13,647
-798
-6% -$80.6K
HOMB icon
916
Home BancShares
HOMB
$6.25B
$1.45M 0.01%
52,203
-3,308
-6% -$91.7K
OPCH icon
917
Option Care Health
OPCH
$3.36B
$1.45M 0.01%
45,453
-3,019
-6% -$88.6K
COMP icon
918
Compass
COMP
$8.56B
$1.45M 0.01%
136,729
-2,089
-2% -$19.1K
KBR icon
919
KBR
KBR
$4.36B
$1.44M 0.01%
35,742
-2,648
-7% -$114K
BMI icon
920
Badger Meter
BMI
$3.78B
$1.44M 0.01%
8,234
-486
-6% -$87.5K
MC icon
921
Moelis & Co
MC
$5.06B
$1.43M 0.01%
20,875
-1,076
-5% -$71.8K
DBX icon
922
Dropbox
DBX
$7.49B
$1.43M 0.01%
51,534
-6,650
-11% -$194K
THO icon
923
Thor Industries
THO
$3.95B
$1.43M 0.01%
13,896
-1,060
-7% -$110K
ROAD icon
924
Construction Partners
ROAD
$5.75B
$1.42M 0.01%
13,105
-833
-6% -$93.8K
GPI icon
925
Group 1 Automotive
GPI
$3.53B
$1.42M 0.01%
3,613
-215
-6% -$88.3K
35 36
37
38 39

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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
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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.