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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
LOAR icon
1351
Loar Holdings
LOAR
$6.39B
$627K ﹤0.01%
9,225
-464
-5% -$33.8K
PTEN icon
1352
Patterson-UTI
PTEN
$3.74B
$625K ﹤0.01%
102,263
-6,148
-6% -$36.7K
HCI icon
1353
HCI Group
HCI
$2.32B
$624K ﹤0.01%
3,256
+352
+12% +$66.3K
JOE icon
1354
St. Joe Company
JOE
$3.62B
$624K ﹤0.01%
10,506
-692
-6% -$38.8K
CAR icon
1355
Avis
CAR
$5.37B
$623K ﹤0.01%
4,853
-345
-7% -$48.1K
HI
1356
DELISTED
Hillenbrand
HI
$623K ﹤0.01%
19,631
-1,217
-6% -$37.5K
TRMK icon
1357
Trustmark
TRMK
$2.77B
$621K ﹤0.01%
15,951
-1,037
-6% -$40.4K
PRK icon
1358
Park National Corp
PRK
$3.74B
$621K ﹤0.01%
4,078
-234
-5% -$36.8K
AMR icon
1359
Alpha Metallurgical Resources
AMR
$1.82B
$620K ﹤0.01%
3,102
-181
-6% -$31.3K
FRHC icon
1360
Freedom Holding
FRHC
$9.88B
$619K ﹤0.01%
5,085
-334
-6% -$48.4K
BBT
1361
Beacon Financial Corp
BBT
$2.57B
$618K ﹤0.01%
23,421
-1,347
-5% -$34.1K
PLUG icon
1362
Plug Power
PLUG
$2.92B
$618K ﹤0.01%
313,465
+7,905
+3% +$20.6K
DJT icon
1363
Trump Media & Technology Group
DJT
$2.87B
$616K ﹤0.01%
46,527
-2,671
-5% -$36.4K
EXTR icon
1364
Extreme Networks
EXTR
$3.9B
$616K ﹤0.01%
36,993
-2,412
-6% -$44.3K
RNG icon
1365
RingCentral
RNG
$4.48B
$615K ﹤0.01%
21,289
-51
-0.2% -$1.45K
CURB
1366
Curbline Properties
CURB
$3.52B
$615K ﹤0.01%
26,488
-1,532
-5% -$35.7K
DYN icon
1367
Dyne Therapeutics
DYN
$4.8B
$614K ﹤0.01%
31,416
+4,212
+15% +$79.8K
CENX icon
1368
Century Aluminum
CENX
$4.44B
$614K ﹤0.01%
15,663
-899
-5% -$28.1K
CSGS
1369
DELISTED
CSG Systems International
CSGS
$613K ﹤0.01%
7,992
-547
-6% -$40.4K
FLO icon
1370
Flowers Foods
FLO
$1.51B
$611K ﹤0.01%
56,153
-3,201
-5% -$37.2K
NBTB icon
1371
NBT Bancorp
NBTB
$2.75B
$608K ﹤0.01%
14,655
-816
-5% -$33.9K
IVT icon
1372
InvenTrust Properties
IVT
$2.74B
$608K ﹤0.01%
21,558
-1,395
-6% -$39.3K
HAPN
1373
Happen Inc
HAPN
$2.23B
$607K ﹤0.01%
32,032
-1,761
-5% -$31.1K
BANR icon
1374
Banner Corp
BANR
$2.37B
$604K ﹤0.01%
9,635
-605
-6% -$38.2K
FRME icon
1375
First Merchants
FRME
$2.69B
$604K ﹤0.01%
16,104
-1,121
-7% -$41.5K
53 54
55
56 57

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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
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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.