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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
HHH icon
1276
Howard Hughes
HHH
$3.87B
$728K ﹤0.01%
9,122
-544
-6% -$45.1K
WGS icon
1277
GeneDx Holdings
WGS
$2.05B
$728K ﹤0.01%
5,594
+113
+2% +$15.5K
XENE icon
1278
Xenon Pharmaceuticals
XENE
$6.2B
$725K ﹤0.01%
16,179
-3,111
-16% -$131K
INSP icon
1279
Inspire Medical Systems
INSP
$1.44B
$725K ﹤0.01%
7,860
-432
-5% -$41.3K
VC icon
1280
Visteon
VC
$2.8B
$724K ﹤0.01%
7,610
-437
-5% -$46.3K
TDC icon
1281
Teradata
TDC
$2.88B
$722K ﹤0.01%
23,705
-1,755
-7% -$45.9K
ABM icon
1282
ABM Industries
ABM
$2.79B
$720K ﹤0.01%
17,023
-1,399
-8% -$61.5K
MTRN icon
1283
Materion
MTRN
$4.33B
$719K ﹤0.01%
5,784
-375
-6% -$46.2K
MGRC icon
1284
McGrath RentCorp
MGRC
$2.82B
$719K ﹤0.01%
6,851
-419
-6% -$45.4K
HUBG icon
1285
HUB Group
HUBG
$2.78B
$716K ﹤0.01%
16,802
-1,136
-6% -$43.2K
MPT
1286
Medical Properties Trust
MPT
$2.81B
$716K ﹤0.01%
143,123
-7,993
-5% -$41.6K
TOWN icon
1287
Towne Bank
TOWN
$3.49B
$714K ﹤0.01%
21,410
+382
+2% +$12.9K
NMRK icon
1288
Newmark Group
NMRK
$2.68B
$714K ﹤0.01%
41,192
-1,732
-4% -$30.3K
COCO icon
1289
Vita Coco
COCO
$3.82B
$713K ﹤0.01%
13,457
+55
+0.4% +$2.58K
AAL icon
1290
American Airlines Group
AAL
$10.2B
$705K ﹤0.01%
45,999
-2,782
-6% -$37.5K
WAFD icon
1291
WaFd
WAFD
$2.69B
$705K ﹤0.01%
22,009
-1,689
-7% -$52.2K
BEAM icon
1292
Beam Therapeutics
BEAM
$2.73B
$705K ﹤0.01%
25,421
-1,350
-5% -$34.4K
TTAN
1293
ServiceTitan Inc
TTAN
$7.62B
$704K ﹤0.01%
+6,613
New +$646K
VICR icon
1294
Vicor
VICR
$9.42B
$703K ﹤0.01%
6,414
-515
-7% -$43.8K
CDTX
1295
DELISTED
Cidara Therapeutics
CDTX
$702K ﹤0.01%
3,178
-286
-8% -$46.2K
ATEC icon
1296
Alphatec Holdings
ATEC
$1.49B
$700K ﹤0.01%
33,262
-1,341
-4% -$24.8K
ACLS icon
1297
Axcelis
ACLS
$3.85B
$693K ﹤0.01%
8,630
-875
-9% -$73.3K
DNOW icon
1298
DNOW Inc
DNOW
$2.51B
$693K ﹤0.01%
52,297
+21,194
+68% +$298K
UPWK icon
1299
Upwork
UPWK
$1.14B
$693K ﹤0.01%
34,956
-2,024
-5% -$37.1K
CACC icon
1300
Credit Acceptance
CACC
$5.81B
$692K ﹤0.01%
1,561
-151
-9% -$70K
50 51
52
53 54

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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.