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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
AAP icon
1326
Advance Auto Parts
AAP
$3.39B
$664K ﹤0.01%
16,890
-843
-5% -$42.3K
GT icon
1327
Goodyear
GT
$2.04B
$664K ﹤0.01%
75,745
-4,523
-6% -$35.6K
CAKE icon
1328
Cheesecake Factory
CAKE
$5.03B
$663K ﹤0.01%
13,136
-782
-6% -$39.2K
FBK icon
1329
FB Financial Corp
FBK
$3B
$663K ﹤0.01%
11,874
-54
-0.5% -$3.02K
APGE icon
1330
Apogee Therapeutics
APGE
$10.2B
$661K ﹤0.01%
8,763
+2,161
+33% +$136K
CNK icon
1331
Cinemark Holdings
CNK
$4.22B
$661K ﹤0.01%
28,452
-2,179
-7% -$57.3K
CSTM icon
1332
Constellium
CSTM
$3.89B
$660K ﹤0.01%
35,035
-3,027
-8% -$50.2K
KLIC icon
1333
Kulicke & Soffa
KLIC
$4.62B
$658K ﹤0.01%
14,451
-1,152
-7% -$48.7K
PLUS icon
1334
ePlus
PLUS
$2.38B
$649K ﹤0.01%
7,401
-421
-5% -$34.7K
GOLF icon
1335
Acushnet Holdings
GOLF
$5.88B
$649K ﹤0.01%
8,131
-564
-6% -$45.8K
PRVA icon
1336
Privia Health
PRVA
$3.01B
$649K ﹤0.01%
27,363
-1,472
-5% -$35.8K
FRSH icon
1337
Freshworks
FRSH
$3.11B
$648K ﹤0.01%
52,932
-4,229
-7% -$50K
BBAI icon
1338
BigBear.ai
BBAI
$1.36B
$645K ﹤0.01%
119,480
+33,314
+39% +$218K
BANF icon
1339
BancFirst
BANF
$3.77B
$644K ﹤0.01%
6,075
-306
-5% -$34.6K
MGNI icon
1340
Magnite
MGNI
$2.78B
$643K ﹤0.01%
39,617
-2,123
-5% -$35.2K
SPNT icon
1341
SiriusPoint
SPNT
$2.78B
$640K ﹤0.01%
29,259
-1,791
-6% -$35.9K
XRAY icon
1342
Dentsply Sirona
XRAY
$2.75B
$638K ﹤0.01%
55,823
-3,129
-5% -$36.7K
DNLI icon
1343
Denali Therapeutics
DNLI
$3.86B
$638K ﹤0.01%
38,645
-2,168
-5% -$36.6K
DIOD icon
1344
Diodes
DIOD
$3.77B
$636K ﹤0.01%
12,900
-820
-6% -$41.5K
KSS icon
1345
Kohl's
KSS
$2.21B
$636K ﹤0.01%
31,180
-1,974
-6% -$37K
GEO icon
1346
The GEO Group
GEO
$4.1B
$636K ﹤0.01%
39,476
-2,350
-6% -$39.2K
CHEF icon
1347
Chefs' Warehouse
CHEF
$4.58B
$636K ﹤0.01%
10,208
-612
-6% -$36.8K
OI icon
1348
O-I Glass
OI
$1.13B
$633K ﹤0.01%
42,874
-2,899
-6% -$38.4K
CTRI icon
1349
Centuri Holdings
CTRI
$2.71B
$632K ﹤0.01%
25,041
+1,400
+6% +$31.3K
CON
1350
Concentra Group Holdings
CON
$4.05B
$632K ﹤0.01%
32,101
-2,033
-6% -$40.7K
52 53
54
55 56

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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.