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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
UTL icon
1851
Unitil
UTL
$989M
$239K ﹤0.01%
4,934
+123
+3% +$5.99K
CFFN icon
1852
Capitol Federal Financial
CFFN
$1.09B
$239K ﹤0.01%
35,039
-2,264
-6% -$14.7K
SCSC icon
1853
Scansource
SCSC
$1.17B
$238K ﹤0.01%
6,102
-233
-4% -$9.62K
MUX icon
1854
McEwen Inc
MUX
$1B
$238K ﹤0.01%
+12,867
New +$239K
YEXT icon
1855
Yext
YEXT
$573M
$237K ﹤0.01%
29,357
-1,430
-5% -$12K
BHRB icon
1856
Burke & Herbert Financial Services Corp
BHRB
$1.48B
$236K ﹤0.01%
3,794
-195
-5% -$12.2K
FMBH icon
1857
First Mid Bancshares
FMBH
$1.4B
$235K ﹤0.01%
6,018
-364
-6% -$13.9K
RAPP
1858
Rapport Therapeutics
RAPP
$1.96B
$234K ﹤0.01%
+7,726
New +$214K
IOVA icon
1859
Iovance Biotherapeutics
IOVA
$2.04B
$233K ﹤0.01%
85,490
+6,640
+8% +$15.4K
RCAT icon
1860
Red Cat Holdings
RCAT
$1.03B
$232K ﹤0.01%
29,311
+855
+3% +$8.18K
INVX
1861
Innovex International
INVX
$1.8B
$231K ﹤0.01%
10,566
-660
-6% -$13.8K
ONT
1862
Onterris Inc
ONT
$731M
$231K ﹤0.01%
9,304
-314
-3% -$8.29K
ALIT icon
1863
Alight
ALIT
$534M
$231K ﹤0.01%
5,921
-327
-5% -$16.3K
PLYM
1864
DELISTED
Plymouth Industrial REIT
PLYM
$231K ﹤0.01%
10,553
-1,577
-13% -$34.7K
FWRG icon
1865
First Watch Restaurant Group
FWRG
$814M
$231K ﹤0.01%
15,295
+1,777
+13% +$29.9K
FBRT
1866
Franklin BSP Realty Trust
FBRT
$580M
$229K ﹤0.01%
22,876
-1,453
-6% -$15.2K
DHC
1867
Diversified Healthcare Trust
DHC
$2.15B
$229K ﹤0.01%
47,174
-2,731
-5% -$12.4K
HAFC icon
1868
Hanmi Financial
HAFC
$935M
$228K ﹤0.01%
8,417
-516
-6% -$13.8K
SIBN icon
1869
SI-BONE Inc
SIBN
$818M
$226K ﹤0.01%
11,460
+104
+0.9% +$1.81K
IART icon
1870
Integra LifeSciences
IART
$1.28B
$226K ﹤0.01%
18,159
-1,388
-7% -$18.5K
IRMD icon
1871
iRadimed
IRMD
$1.2B
$225K ﹤0.01%
+2,312
New +$198K
GBTG icon
1872
American Express Global Business Travel
GBTG
$4.92B
$224K ﹤0.01%
29,298
+968
+3% +$7.51K
AIV
1873
Aimco
AIV
$377M
$224K ﹤0.01%
37,701
-2,135
-5% -$12.8K
HFWA icon
1874
Heritage Financial
HFWA
$1.22B
$224K ﹤0.01%
9,451
-620
-6% -$14.6K
AMC icon
1875
AMC Entertainment Holdings
AMC
$2.45B
$223K ﹤0.01%
143,244
+15,072
+12% +$35.9K
73 74
75
76 77

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.