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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
DRVN icon
1801
Driven Brands
DRVN
$2.47B
$270K ﹤0.01%
18,237
-1,196
-6% -$17.8K
AMRC icon
1802
Ameresco
AMRC
$980M
$269K ﹤0.01%
9,176
-551
-6% -$19.3K
PNTG icon
1803
Pennant Group
PNTG
$1.43B
$269K ﹤0.01%
9,547
-679
-7% -$18.1K
MFA
1804
MFA Financial
MFA
$932M
$267K ﹤0.01%
28,647
-1,729
-6% -$16.1K
QURE icon
1805
uniQure
QURE
$2.75B
$267K ﹤0.01%
11,141
+627
+6% +$24.2K
SMA
1806
SmartStop Self Storage REIT
SMA
$1.93B
$266K ﹤0.01%
8,597
-568
-6% -$19.2K
CDNA icon
1807
CareDx
CDNA
$1.83B
$265K ﹤0.01%
14,045
-1,601
-10% -$26.8K
NNE
1808
Nano Nuclear Energy
NNE
$799M
$264K ﹤0.01%
10,997
+1,818
+20% +$69.6K
ESRT icon
1809
Empire State Realty Trust
ESRT
$1B
$263K ﹤0.01%
40,314
-1,819
-4% -$13K
XNCR icon
1810
Xencor
XNCR
$1.45B
$263K ﹤0.01%
17,160
-695
-4% -$10.4K
UVSP icon
1811
Univest Financial
UVSP
$1.23B
$263K ﹤0.01%
8,020
-500
-6% -$15.7K
AHCO icon
1812
AdaptHealth
AHCO
$1.47B
$262K ﹤0.01%
26,355
-1,582
-6% -$15.1K
CXM icon
1813
Sprinklr
CXM
$1.51B
$262K ﹤0.01%
33,702
-2,191
-6% -$16.7K
UAA icon
1814
Under Armour
UAA
$3.01B
$261K ﹤0.01%
52,542
-3,332
-6% -$15.4K
LB
1815
LandBridge Co
LB
$2.09B
$260K ﹤0.01%
5,305
-277
-5% -$16.1K
NVAX icon
1816
Novavax
NVAX
$1.21B
$259K ﹤0.01%
38,546
-4,561
-11% -$34.4K
BBSI icon
1817
Barrett Business Services
BBSI
$1.01B
$259K ﹤0.01%
7,148
-403
-5% -$15.4K
AAT
1818
American Assets Trust
AAT
$1.46B
$258K ﹤0.01%
13,639
-833
-6% -$16.1K
NTLA icon
1819
Intellia Therapeutics
NTLA
$1.51B
$257K ﹤0.01%
28,640
-453
-2% -$6.24K
CTBI icon
1820
Community Trust Bancorp
CTBI
$1.42B
$257K ﹤0.01%
4,542
-287
-6% -$15.9K
SOC icon
1821
Sable Offshore Corp
SOC
$836M
$256K ﹤0.01%
28,414
+12,235
+76% +$116K
MSEX icon
1822
Middlesex Water
MSEX
$1.07B
$255K ﹤0.01%
5,063
-221
-4% -$11.9K
DEA
1823
Easterly Government Properties
DEA
$1.16B
$254K ﹤0.01%
11,986
-637
-5% -$13.8K
UVE icon
1824
Universal Insurance Holdings
UVE
$1.26B
$253K ﹤0.01%
7,492
-419
-5% -$13.4K
UPBD icon
1825
Upbound Group
UPBD
$1.22B
$253K ﹤0.01%
14,411
-970
-6% -$18.8K
71 72
73
74 75

Similar funds

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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.