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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
CCO icon
1976
Clear Channel Outdoor Holdings
CCO
$1.22B
$153K ﹤0.01%
69,056
+2,913
+4% +$5.4K
VIR icon
1977
Vir Biotechnology
VIR
$1.47B
$152K ﹤0.01%
25,288
-1,270
-5% -$7.56K
MCW
1978
DELISTED
Mister Car Wash
MCW
$152K ﹤0.01%
27,405
-1,431
-5% -$7.53K
LIND icon
1979
Lindblad Expeditions
LIND
$1.99B
$152K ﹤0.01%
10,547
-777
-7% -$9.8K
USAR
1980
USA Rare Earth Inc
USAR
$3.31B
$151K ﹤0.01%
+12,678
New +$242K
HGTY icon
1981
Hagerty
HGTY
$1.21B
$151K ﹤0.01%
11,204
-509
-4% -$6.35K
JANX icon
1982
Janux Therapeutics
JANX
$926M
$150K ﹤0.01%
10,882
-491
-4% -$11.5K
SHEN icon
1983
Shenandoah Telecom
SHEN
$718M
$150K ﹤0.01%
12,945
-842
-6% -$9.96K
SEMR
1984
DELISTED
Semrush
SEMR
$148K ﹤0.01%
12,455
-715
-5% -$6.7K
INN
1985
Summit Hotel Properties
INN
$773M
$148K ﹤0.01%
30,407
-2,800
-8% -$14.6K
AVO icon
1986
Mission Produce
AVO
$1.14B
$148K ﹤0.01%
12,754
+226
+2% +$2.71K
AHRT
1987
AH Realty Trust
AHRT
$541M
$148K ﹤0.01%
22,281
-1,437
-6% -$9.48K
AVNS icon
1988
Avanos Medical
AVNS
$145K ﹤0.01%
12,950
-734
-5% -$8.4K
GRND icon
1989
Grindr
GRND
$3.02B
$144K ﹤0.01%
10,668
-943
-8% -$12.8K
OPK icon
1990
Opko Health
OPK
$1.08B
$143K ﹤0.01%
113,834
-14,774
-11% -$20.6K
NRDS icon
1991
NerdWallet
NRDS
$638M
$142K ﹤0.01%
10,469
-292
-3% -$3.82K
BDN
1992
Brandywine Realty Trust
BDN
$521M
$142K ﹤0.01%
48,553
-2,625
-5% -$8.93K
SABR icon
1993
Sabre
SABR
$727M
$142K ﹤0.01%
104,051
-4,967
-5% -$8.55K
TROX icon
1994
Tronox
TROX
$991M
$140K ﹤0.01%
33,680
-1,488
-4% -$5.67K
FMNB icon
1995
Farmers National Banc Corp
FMNB
$949M
$139K ﹤0.01%
10,465
-673
-6% -$9.21K
RR icon
1996
Richtech Robotics
RR
$315M
$139K ﹤0.01%
+43,112
New +$191K
GOOD
1997
Gladstone Commercial Corp
GOOD
$627M
$139K ﹤0.01%
13,048
-637
-5% -$7.08K
FIP icon
1998
FTAI Infrastructure
FIP
$468M
$139K ﹤0.01%
30,128
-2,102
-7% -$10.4K
AEBI
1999
Aebi Schmidt Holding AG
AEBI
$1.03B
$137K ﹤0.01%
10,810
-533
-5% -$6.36K
ANGI icon
2000
Angi Inc
ANGI
$255M
$136K ﹤0.01%
10,485
-1,545
-13% -$19.9K
78 79
80
81 82

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.