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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
TNET icon
1451
TriNet
TNET
$3.29B
$523K ﹤0.01%
8,842
-467
-5% -$27.7K
MD icon
1452
Pediatrix Medical
MD
$2.17B
$522K ﹤0.01%
24,411
-1,009
-4% -$20.7K
OGN icon
1453
Organon & Co
OGN
$3.56B
$522K ﹤0.01%
72,736
-4,188
-5% -$33.1K
HMN icon
1454
Horace Mann Educators
HMN
$2.1B
$522K ﹤0.01%
11,293
-774
-6% -$35K
WVE icon
1455
Wave Life Sciences
WVE
$1.11B
$521K ﹤0.01%
30,645
-1,545
-5% -$15.7K
LION icon
1456
Lionsgate Studios
LION
$3.98B
$520K ﹤0.01%
57,007
-6,403
-10% -$45.6K
EVTC icon
1457
Evertec
EVTC
$1.95B
$520K ﹤0.01%
17,888
-1,050
-6% -$31.2K
GSHD icon
1458
Goosehead Insurance
GSHD
$2.27B
$520K ﹤0.01%
7,063
-339
-5% -$24.2K
SKWD icon
1459
Skyward Specialty Insurance
SKWD
$2.43B
$520K ﹤0.01%
10,177
-569
-5% -$27.3K
NNI icon
1460
Nelnet
NNI
$4.88B
$520K ﹤0.01%
3,910
-272
-7% -$35.6K
PPC icon
1461
Pilgrim's Pride
PPC
$6.98B
$518K ﹤0.01%
13,281
-752
-5% -$28.9K
KALU icon
1462
Kaiser Aluminum
KALU
$2.61B
$518K ﹤0.01%
4,506
-284
-6% -$27K
DEI icon
1463
Douglas Emmett
DEI
$2.02B
$515K ﹤0.01%
46,827
-2,722
-5% -$34.1K
LBTYA icon
1464
Liberty Global Class A
LBTYA
$3.56B
$514K ﹤0.01%
46,118
-2,740
-6% -$30.3K
PRGS icon
1465
Progress Software
PRGS
$1.65B
$513K ﹤0.01%
11,948
-795
-6% -$34.7K
ADPT icon
1466
Adaptive Biotechnologies
ADPT
$3.87B
$513K ﹤0.01%
31,587
+144
+0.5% +$2.35K
KN icon
1467
Knowles
KN
$3.08B
$513K ﹤0.01%
23,926
-1,811
-7% -$41.3K
AORT icon
1468
Artivion
AORT
$1.34B
$512K ﹤0.01%
11,235
+494
+5% +$22K
DRH icon
1469
Diamondrock Hospitality Co
DRH
$2.64B
$512K ﹤0.01%
57,094
-3,957
-6% -$33.7K
ANDE icon
1470
Andersons Inc
ANDE
$2.44B
$510K ﹤0.01%
9,596
-515
-5% -$25.2K
DX
1471
Dynex Capital
DX
$3.18B
$510K ﹤0.01%
36,418
+4,707
+15% +$63.5K
BATRK icon
1472
Atlanta Braves Holdings Series B
BATRK
$3.26B
$509K ﹤0.01%
12,913
-739
-5% -$29.2K
OFG icon
1473
OFG Bancorp
OFG
$2.22B
$508K ﹤0.01%
12,408
-883
-7% -$36.1K
PPTA
1474
Perpetua Resources
PPTA
$2.37B
$508K ﹤0.01%
20,985
-1,245
-6% -$30.6K
IPGP icon
1475
IPG Photonics
IPGP
$3.6B
$508K ﹤0.01%
7,094
-444
-6% -$36.2K
57 58
59
60 61

Similar funds

CM
Caption Management Oklahoma City, Oklahoma $17.1B AUM 70.99% 1-Year Est. Return
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.