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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
BHVN icon
1676
Biohaven
BHVN
$2.02B
$353K ﹤0.01%
31,234
+5,551
+22% +$68.8K
PZZA icon
1677
Papa John's
PZZA
$1.01B
$352K ﹤0.01%
9,145
-538
-6% -$23.8K
LADR
1678
Ladder Capital
LADR
$1.24B
$351K ﹤0.01%
31,912
-2,036
-6% -$22.1K
TMC icon
1679
TMC The Metals Company
TMC
$1.49B
$350K ﹤0.01%
56,681
-7,895
-12% -$55.5K
LOB icon
1680
Live Oak Bancshares
LOB
$1.98B
$349K ﹤0.01%
10,167
-629
-6% -$21.1K
MLKN icon
1681
MillerKnoll
MLKN
$1.56B
$348K ﹤0.01%
19,062
-966
-5% -$15.8K
ACHC icon
1682
Acadia Healthcare
ACHC
$2.55B
$348K ﹤0.01%
24,546
-2,676
-10% -$50.6K
VRE
1683
DELISTED
Veris Residential
VRE
$348K ﹤0.01%
23,398
-1,455
-6% -$21.5K
DCOM icon
1684
Dime Commercial Bancshares
DCOM
$1.79B
$348K ﹤0.01%
11,560
-740
-6% -$21.4K
CNOB icon
1685
Center Bancorp
CNOB
$1.65B
$348K ﹤0.01%
13,255
-848
-6% -$21.5K
STOK icon
1686
Stoke Therapeutics
STOK
$1.84B
$347K ﹤0.01%
10,936
-358
-3% -$10.8K
XPEL icon
1687
XPEL
XPEL
$1.22B
$347K ﹤0.01%
6,950
-410
-6% -$17.1K
CDRE icon
1688
Cadre Holdings
CDRE
$1.31B
$346K ﹤0.01%
8,474
+52
+0.6% +$2.16K
ECPG icon
1689
Encore Capital Group
ECPG
$2.01B
$345K ﹤0.01%
6,344
-563
-8% -$27.1K
ENR icon
1690
Energizer
ENR
$1.47B
$343K ﹤0.01%
17,220
-2,006
-10% -$43.7K
TDOC icon
1691
Teladoc Health
TDOC
$1.66B
$342K ﹤0.01%
48,927
-2,986
-6% -$23.4K
THR
1692
DELISTED
Thermon Group Holdings
THR
$342K ﹤0.01%
9,209
-629
-6% -$20.6K
WINA icon
1693
Winmark
WINA
$1.2B
$341K ﹤0.01%
843
-44
-5% -$18.8K
DFIN icon
1694
Donnelley Financial Solutions
DFIN
$1.28B
$341K ﹤0.01%
7,310
-460
-6% -$22.2K
MCRI icon
1695
Monarch Casino & Resort
MCRI
$2.2B
$341K ﹤0.01%
3,563
-252
-7% -$24.2K
LFST icon
1696
Lifestance Health
LFST
$4.15B
$339K ﹤0.01%
48,181
+7,943
+20% +$47.9K
NN icon
1697
NextNav
NN
$1.79B
$339K ﹤0.01%
20,378
-1,163
-5% -$16.5K
COTY icon
1698
Coty
COTY
$2.4B
$339K ﹤0.01%
110,045
-6,109
-5% -$22.2K
PRLB icon
1699
Protolabs
PRLB
$1.7B
$337K ﹤0.01%
6,653
-381
-5% -$19.5K
NVTS icon
1700
Navitas Semiconductor
NVTS
$2.54B
$334K ﹤0.01%
46,817
+4,294
+10% +$41.3K
66 67
68
69 70

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.