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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
BCO icon
951
Brink's
BCO
$4.84B
$1.36M 0.01%
11,628
-801
-6% -$91.6K
RDN icon
952
Radian Group
RDN
$5.16B
$1.36M 0.01%
37,671
-2,081
-5% -$72.7K
ST icon
953
Sensata Technologies
ST
$6.98B
$1.35M 0.01%
40,595
-2,695
-6% -$86.2K
BC icon
954
Brunswick
BC
$5.18B
$1.35M 0.01%
18,187
-1,249
-6% -$84.7K
ABCB icon
955
Ameris Bancorp
ABCB
$5.88B
$1.34M 0.01%
18,105
-1,267
-7% -$94.3K
REZI icon
956
Resideo Technologies
REZI
$5.26B
$1.34M 0.01%
38,260
-3,487
-8% -$129K
PI icon
957
Impinj
PI
$4.51B
$1.34M 0.01%
7,701
-7
-0.1% -$1.25K
QLYS icon
958
Qualys
QLYS
$4.99B
$1.33M 0.01%
10,018
-714
-7% -$98.2K
BYD icon
959
Boyd Gaming
BYD
$6.47B
$1.33M 0.01%
15,618
-1,244
-7% -$103K
MTN icon
960
Vail Resorts
MTN
$5.45B
$1.33M 0.01%
9,987
-1,006
-9% -$148K
PL icon
961
Planet Labs
PL
$7.21B
$1.32M 0.01%
67,153
+4,507
+7% +$64.6K
HRI icon
962
Herc Holdings
HRI
$4.88B
$1.31M 0.01%
8,844
-493
-5% -$67.6K
BILL icon
963
BILL Holdings
BILL
$4.52B
$1.31M 0.01%
24,060
-4,902
-17% -$252K
CE icon
964
Celanese
CE
$4.91B
$1.3M 0.01%
30,849
+92
+0.3% +$3.75K
AX icon
965
Axos Financial
AX
$5.6B
$1.3M 0.01%
15,131
-717
-5% -$59.1K
MTH icon
966
Meritage Homes
MTH
$4.61B
$1.3M 0.01%
19,805
-1,450
-7% -$100K
BF.B icon
967
Brown-Forman Class B
BF.B
$13.2B
$1.3M 0.01%
49,956
-3,883
-7% -$109K
MAC icon
968
Macerich
MAC
$7.22B
$1.3M 0.01%
70,490
-4,271
-6% -$75.3K
CIFR icon
969
Cipher Digital
CIFR
$9.27B
$1.3M 0.01%
88,041
+11,200
+15% +$198K
CVCO icon
970
Cavco Industries
CVCO
$4.33B
$1.3M 0.01%
2,199
-72
-3% -$40.8K
CROX icon
971
Crocs
CROX
$6.14B
$1.3M 0.01%
15,185
-1,395
-8% -$117K
RDNT icon
972
RadNet
RDNT
$4.93B
$1.3M 0.01%
18,179
-1,147
-6% -$88.6K
OGS icon
973
ONE Gas
OGS
$4.9B
$1.29M 0.01%
16,730
-1,743
-9% -$140K
LOPE icon
974
Grand Canyon Education
LOPE
$3.98B
$1.29M 0.01%
7,759
-637
-8% -$115K
CZR icon
975
Caesars Entertainment
CZR
$6.03B
$1.29M 0.01%
55,151
-3,302
-6% -$74.2K
37 38
39
40 41

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.