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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
UDMY
2001
DELISTED
Udemy
UDMY
$136K ﹤0.01%
23,167
-1,004
-4% -$5.86K
RES icon
2002
RPC Inc
RES
$1.13B
$133K ﹤0.01%
24,519
-1,588
-6% -$8.25K
BLMN icon
2003
Bloomin' Brands
BLMN
$754M
$132K ﹤0.01%
21,360
-1,277
-6% -$8.9K
RUM icon
2004
RUM Group Inc
RUM
$1.56B
$131K ﹤0.01%
20,763
-1,469
-7% -$10.1K
WEAV icon
2005
Weave Communications
WEAV
$553M
$131K ﹤0.01%
17,234
-563
-3% -$3.74K
OSPN icon
2006
OneSpan
OSPN
$584M
$129K ﹤0.01%
10,070
-677
-6% -$9.18K
TMQ
2007
Trilogy Metals
TMQ
$504M
$129K ﹤0.01%
+29,923
New +$141K
AESI icon
2008
Atlas Energy Solutions
AESI
$1.27B
$128K ﹤0.01%
13,609
-1,025
-7% -$10.4K
KREF
2009
KKR Real Estate Finance Trust
KREF
$466M
$127K ﹤0.01%
15,487
-1,569
-9% -$13.3K
NXDR
2010
Nextdoor Holdings
NXDR
$885M
$126K ﹤0.01%
60,033
-2,475
-4% -$4.85K
KOS icon
2011
Kosmos Energy
KOS
$1.47B
$120K ﹤0.01%
131,964
-9,484
-7% -$12.5K
AVAH icon
2012
Aveanna Healthcare
AVAH
$2.12B
$119K ﹤0.01%
14,581
-3,718
-20% -$33.6K
HTLD icon
2013
Heartland Express
HTLD
$1.01B
$117K ﹤0.01%
12,946
-993
-7% -$8.26K
ASPI icon
2014
ASP Isotopes
ASPI
$446M
$116K ﹤0.01%
+21,676
New +$172K
JBLU icon
2015
JetBlue
JBLU
$2.13B
$115K ﹤0.01%
25,378
-810
-3% -$3.69K
OPTU
2016
Optimum Communications Inc
OPTU
$298M
$112K ﹤0.01%
68,128
-3,180
-4% -$6.47K
EVH icon
2017
Evolent Health
EVH
$371M
$111K ﹤0.01%
27,789
-1,740
-6% -$9.67K
AKBA icon
2018
Akebia Therapeutics
AKBA
$338M
$111K ﹤0.01%
68,845
-8,618
-11% -$18K
ABAT icon
2019
American Battery Technology Co
ABAT
$280M
$111K ﹤0.01%
+33,168
New +$155K
CTOS icon
2020
Custom Truck One Source
CTOS
$2.21B
$109K ﹤0.01%
18,966
-1,139
-6% -$6.95K
TNGX icon
2021
Tango Therapeutics
TNGX
$4.21B
$109K ﹤0.01%
+12,273
New +$106K
DNUT icon
2022
Krispy Kreme
DNUT
$562M
$104K ﹤0.01%
25,783
-1,988
-7% -$7.87K
SES icon
2023
SES AI
SES
$187M
$103K ﹤0.01%
+57,270
New +$128K
SVV icon
2024
Savers
SVV
$1.53B
$100K ﹤0.01%
10,709
-771
-7% -$7.92K
ORIC icon
2025
Oric Pharmaceuticals
ORIC
$1.17B
$99.5K ﹤0.01%
12,163
+2,107
+21% +$24.3K
79 80
81
82 83

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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
British Columbia Investment Management Victoria, British Columbia, Canada $17B AUM 31.69% 1-Year Est. Return
BBA
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Macquarie Group
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AIMCA
Alberta Investment Management Corp (AIMCo) Edmonton, Alberta, Canada $16.7B AUM 23.27% 1-Year Est. Return
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.