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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
SPG icon
176
Simon Property Group
SPG
$76.8B
$17M 0.09%
92,007
-3,334
-3% -$606K
ROST icon
177
Ross Stores
ROST
$80.5B
$16.5M 0.09%
91,726
-3,790
-4% -$632K
WDC icon
178
Western Digital
WDC
$160B
$16.5M 0.09%
95,602
-7,411
-7% -$1.12M
ABNB icon
179
Airbnb
ABNB
$90.9B
$16.4M 0.09%
121,056
-4,987
-4% -$621K
SRE icon
180
Sempra
SRE
$59.2B
$16.3M 0.09%
184,165
-6,313
-3% -$575K
PCAR icon
181
PACCAR
PCAR
$72.7B
$16.2M 0.09%
147,861
-5,446
-4% -$558K
EOG icon
182
EOG Resources
EOG
$74.4B
$16.2M 0.09%
153,984
-5,419
-3% -$582K
VRT icon
183
Vertiv
VRT
$104B
$16.2M 0.09%
99,757
-7,967
-7% -$1.38M
SLB icon
184
SLB Ltd
SLB
$74.2B
$16.1M 0.09%
419,762
-18,654
-4% -$676K
STX icon
185
Seagate
STX
$169B
$16.1M 0.09%
58,493
-4,104
-7% -$1.07M
AZO icon
186
AutoZone
AZO
$50.9B
$16.1M 0.09%
4,747
-142
-3% -$536K
AFL icon
187
Aflac
AFL
$65.9B
$15.8M 0.09%
143,366
-6,654
-4% -$733K
MNST icon
188
Monster Beverage
MNST
$95.6B
$15.8M 0.09%
206,048
-7,556
-4% -$541K
ZTS icon
189
Zoetis
ZTS
$32.5B
$15.8M 0.09%
125,290
-4,745
-4% -$619K
BDX icon
190
Becton Dickinson
BDX
$45.8B
$15.7M 0.09%
80,857
-2,888
-3% -$550K
APD icon
191
Air Products & Chemicals
APD
$65.2B
$15.6M 0.08%
62,984
-2,041
-3% -$517K
KMI icon
192
Kinder Morgan
KMI
$70.3B
$15.5M 0.08%
564,482
-19,547
-3% -$528K
LHX icon
193
L3Harris
LHX
$56.9B
$15.5M 0.08%
52,824
-1,771
-3% -$512K
NXPI icon
194
NXP Semiconductors
NXPI
$65.4B
$15.5M 0.08%
71,342
-2,435
-3% -$522K
ALL icon
195
Allstate
ALL
$70.1B
$15.4M 0.08%
74,213
-3,138
-4% -$642K
VST icon
196
Vistra
VST
$50.1B
$15.4M 0.08%
95,383
-5,782
-6% -$1.05M
CVNA icon
197
Carvana
CVNA
$47.3B
$15.3M 0.08%
181,090
+815
+0.5% +$60.6K
PYPL icon
198
PayPal
PYPL
$50.3B
$14.9M 0.08%
255,835
-13,978
-5% -$908K
DLR icon
199
Digital Realty Trust
DLR
$71.5B
$14.9M 0.08%
96,005
-2,350
-2% -$386K
IDXX icon
200
Idexx Laboratories
IDXX
$44.9B
$14.8M 0.08%
21,936
-1,795
-8% -$1.22M
6 7
8
9 10

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PP
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VMPIC
Varma Mutual Pension Insurance Co Helsinki, Finland $17B AUM 24.09% 1-Year Est. Return
BCIM
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BBA
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Macquarie Group
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AIMCA
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FCM
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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.