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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
SYBT icon
1476
Stock Yards Bancorp
SYBT
$2.54B
$507K ﹤0.01%
7,811
-435
-5% -$29.2K
YELP icon
1477
Yelp
YELP
$1.44B
$507K ﹤0.01%
16,678
-1,270
-7% -$39.2K
VCEL icon
1478
Vericel Corp
VCEL
$2.43B
$506K ﹤0.01%
14,052
-830
-6% -$30.5K
PARR icon
1479
Par Pacific Holdings
PARR
$4.31B
$505K ﹤0.01%
14,378
-885
-6% -$35.2K
IMVT icon
1480
Immunovant
IMVT
$8.11B
$503K ﹤0.01%
19,785
-449
-2% -$10K
WERN icon
1481
Werner Enterprises
WERN
$2.21B
$503K ﹤0.01%
16,751
-1,512
-8% -$41.5K
NHC icon
1482
National Healthcare
NHC
$3.58B
$501K ﹤0.01%
3,656
-235
-6% -$30.4K
AUPH icon
1483
Aurinia Pharmaceuticals
AUPH
$1.93B
$500K ﹤0.01%
31,352
-2,617
-8% -$37.1K
CECO icon
1484
Ceco Environmental
CECO
$3.83B
$500K ﹤0.01%
8,354
-498
-6% -$26.6K
BELFB
1485
Bel Fuse Inc Class B
BELFB
$3.6B
$499K ﹤0.01%
2,942
-170
-5% -$26.6K
DK icon
1486
Delek US
DK
$4.15B
$499K ﹤0.01%
16,814
-1,156
-6% -$41.3K
CC icon
1487
Chemours
CC
$2.57B
$498K ﹤0.01%
42,258
-2,032
-5% -$26.1K
LASR icon
1488
nLIGHT
LASR
$3.71B
$498K ﹤0.01%
13,275
-623
-4% -$20.8K
PACS icon
1489
PACS Group
PACS
$7.44B
$497K ﹤0.01%
12,953
-822
-6% -$18K
ACLX
1490
DELISTED
Arcellx
ACLX
$496K ﹤0.01%
7,613
-509
-6% -$40.6K
MQ icon
1491
Marqeta
MQ
$1.86B
$496K ﹤0.01%
26,091
-2,847
-10% -$54.7K
CGON icon
1492
CG Oncology
CGON
$6.44B
$493K ﹤0.01%
11,884
-507
-4% -$21K
HLIO icon
1493
Helios Technologies
HLIO
$2.57B
$492K ﹤0.01%
9,206
-657
-7% -$35.4K
CNS icon
1494
Cohen & Steers
CNS
$4.19B
$492K ﹤0.01%
7,842
-454
-5% -$29.5K
FCF icon
1495
First Commonwealth Financial
FCF
$2.18B
$491K ﹤0.01%
29,113
-1,939
-6% -$31.8K
LMAT icon
1496
LeMaitre Vascular
LMAT
$2.34B
$490K ﹤0.01%
6,040
-287
-5% -$24.7K
RSI icon
1497
Rush Street Interactive
RSI
$2.76B
$490K ﹤0.01%
25,204
-3,090
-11% -$57.1K
NWBI icon
1498
Northwest Bancshares
NWBI
$2.3B
$489K ﹤0.01%
40,764
-2,395
-6% -$29.1K
BUR icon
1499
Burford Capital
BUR
$922M
$489K ﹤0.01%
54,788
-3,487
-6% -$34.1K
PRCT icon
1500
Procept Biorobotics
PRCT
$1.02B
$488K ﹤0.01%
15,521
-818
-5% -$27.1K
58 59
60
61 62

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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.