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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
MDXG icon
1876
MiMedx Group
MDXG
$630M
$223K ﹤0.01%
32,878
-1,990
-6% -$13.9K
CPF icon
1877
Central Pacific Financial
CPF
$1.02B
$222K ﹤0.01%
7,120
-862
-11% -$26K
EVER icon
1878
EverQuote
EVER
$949M
$221K ﹤0.01%
+8,194
New +$199K
PUMP icon
1879
ProPetro Holding
PUMP
$1.25B
$220K ﹤0.01%
23,171
-1,427
-6% -$12.4K
UFCS icon
1880
United Fire Group
UFCS
$1.35B
$220K ﹤0.01%
+6,044
New +$207K
NBN icon
1881
Northeast Bank
NBN
$1.04B
$220K ﹤0.01%
2,112
-145
-6% -$13.5K
LBRDA icon
1882
Liberty Broadband Class A
LBRDA
$4.89B
$219K ﹤0.01%
4,542
-312
-6% -$16.2K
KURA icon
1883
Kura Oncology
KURA
$793M
$219K ﹤0.01%
21,055
+574
+3% +$6.02K
APOG icon
1884
Apogee Enterprises
APOG
$833M
$218K ﹤0.01%
6,001
-363
-6% -$13.7K
ROOT icon
1885
Root
ROOT
$895M
$218K ﹤0.01%
3,020
-169
-5% -$13.5K
QNST icon
1886
QuinStreet
QNST
$927M
$217K ﹤0.01%
15,135
-864
-5% -$12.5K
AMWD
1887
DELISTED
American Woodmark
AMWD
$217K ﹤0.01%
4,031
-258
-6% -$15.1K
PAHC icon
1888
Phibro Animal Health
PAHC
$1.5B
$216K ﹤0.01%
5,793
-217
-4% -$8.81K
TRST
1889
Trustco Bank Corp NY
TRST
$953M
$216K ﹤0.01%
5,223
-412
-7% -$16.4K
BFST icon
1890
Business First Bancshares
BFST
$1.05B
$215K ﹤0.01%
8,235
-557
-6% -$14.1K
NBBK icon
1891
NB Bancorp
NBBK
$993M
$215K ﹤0.01%
+10,827
New +$206K
LQDT icon
1892
Liquidity Services
LQDT
$1.2B
$214K ﹤0.01%
7,051
-332
-4% -$8.92K
MATW icon
1893
Matthews International
MATW
$887M
$213K ﹤0.01%
8,167
-542
-6% -$13.3K
DAKT icon
1894
Daktronics
DAKT
$946M
$213K ﹤0.01%
10,783
-848
-7% -$16.2K
HNGE
1895
Hinge Health
HNGE
$5.73B
$212K ﹤0.01%
4,562
-187
-4% -$9.01K
UTZ icon
1896
Utz Brands
UTZ
$1.24B
$211K ﹤0.01%
20,282
-1,365
-6% -$14.7K
STAA icon
1897
STAAR Surgical
STAA
$1.19B
$210K ﹤0.01%
9,106
-1,149
-11% -$29.6K
EPC icon
1898
Edgewell Personal Care
EPC
$1.3B
$210K ﹤0.01%
12,316
-905
-7% -$16.7K
PGEN icon
1899
Precigen
PGEN
$1.94B
$210K ﹤0.01%
+50,225
New +$194K
TFSL icon
1900
TFS Financial
TFSL
$5.11B
$210K ﹤0.01%
15,662
-946
-6% -$13K
74 75
76
77 78

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.