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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
GPGI
1751
GPGI Inc
GPGI
$3.87B
$300K ﹤0.01%
15,566
+1,952
+14% +$39K
THS
1752
DELISTED
Treehouse Foods
THS
$299K ﹤0.01%
12,669
-780
-6% -$17K
PGY icon
1753
Pagaya Technologies
PGY
$1.35B
$299K ﹤0.01%
14,295
+306
+2% +$7.79K
DFTX
1754
Definium Therapeutics
DFTX
$5.6B
$298K ﹤0.01%
22,242
+4,375
+24% +$54.1K
AMPL icon
1755
Amplitude
AMPL
$1.18B
$297K ﹤0.01%
25,658
-653
-2% -$6.87K
PEBO icon
1756
Peoples Bancorp
PEBO
$1.51B
$297K ﹤0.01%
9,892
-638
-6% -$19K
KW
1757
DELISTED
Kennedy-Wilson Holdings
KW
$297K ﹤0.01%
30,684
-2,054
-6% -$18.4K
CERT icon
1758
Certara
CERT
$1.26B
$295K ﹤0.01%
33,467
-2,506
-7% -$25.8K
CMPR icon
1759
Cimpress
CMPR
$2.37B
$294K ﹤0.01%
4,420
-353
-7% -$23.9K
ORC
1760
Orchid Island Capital
ORC
$1.31B
$294K ﹤0.01%
40,830
+3,334
+9% +$24.3K
VRTS icon
1761
Virtus Investment Partners
VRTS
$1.12B
$294K ﹤0.01%
1,801
-141
-7% -$23.8K
JBGS
1762
JBG SMITH
JBGS
$846M
$293K ﹤0.01%
17,254
-4,364
-20% -$82.5K
FIGS icon
1763
FIGS
FIGS
$1.76B
$291K ﹤0.01%
25,611
-1,778
-6% -$16.7K
CCOI icon
1764
Cogent Communications
CCOI
$635M
$290K ﹤0.01%
13,473
-351
-3% -$10.4K
KRP icon
1765
Kimbell Royalty Partners
KRP
$1.46B
$290K ﹤0.01%
24,697
-1,558
-6% -$20K
PDM
1766
Piedmont Realty Trust
PDM
$1.24B
$290K ﹤0.01%
34,748
-2,065
-6% -$17.2K
JAMF
1767
DELISTED
Jamf
JAMF
$289K ﹤0.01%
22,203
+755
+4% +$9.16K
CIM
1768
Chimera Investment
CIM
$1.06B
$287K ﹤0.01%
23,108
-852
-4% -$10.8K
CLVT icon
1769
Clarivate
CLVT
$1.37B
$287K ﹤0.01%
85,989
-4,971
-5% -$17.7K
OCFC icon
1770
OceanFirst Financial
OCFC
$1.71B
$287K ﹤0.01%
15,970
-1,306
-8% -$24.4K
PHR icon
1771
Phreesia
PHR
$689M
$286K ﹤0.01%
16,898
-710
-4% -$14.7K
COUR icon
1772
Coursera
COUR
$1.77B
$285K ﹤0.01%
38,786
-1,810
-4% -$15.8K
RLAY icon
1773
Relay Therapeutics
RLAY
$4B
$284K ﹤0.01%
33,531
-1,930
-5% -$13.8K
SKYW icon
1774
Skywest
SKYW
$4.35B
$283K ﹤0.01%
2,822
-169
-6% -$16.9K
LILAK icon
1775
Liberty Latin America Class C
LILAK
$1.69B
$283K ﹤0.01%
41,734
-2,119
-5% -$15.8K
69 70
71
72 73

Similar funds

CM
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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
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.