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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
AGL icon
2051
Agilon Health
AGL
$1.55B
– –
-3,675
Closed -$94.6K
AKRO
2052
DELISTED
Akero Therapeutics
AKRO
– –
-16,503
Closed -$784K
ALE
2053
DELISTED
Allete
ALE
– –
-17,152
Closed -$1.14M
AMTB icon
2054
Amerant Bancorp
AMTB
$1.16B
– –
-10,382
Closed -$200K
AOSL icon
2055
Alpha and Omega Semiconductor
AOSL
$829M
– –
-7,459
Closed -$209K
ARIS
2056
DELISTED
Aris Water Solutions
ARIS
– –
-9,176
Closed -$226K
ARKO icon
2057
ARKO Corp
ARKO
$868M
– –
-15,160
Closed -$69.3K
AU icon
2058
AngloGold Ashanti
AU
$39.4B
– –
-8,927
Closed -$628K
AVDX
2059
DELISTED
AvidXchange
AVDX
– –
-51,926
Closed -$517K
BTG icon
2060
B2Gold
BTG
$4.98B
– –
-23,422
Closed -$116K
BZH icon
2061
Beazer Homes USA
BZH
$888M
– –
-8,519
Closed -$209K
CABO icon
2062
Cable One
CABO
$237M
– –
-1,416
Closed -$251K
CAL icon
2063
Caleres
CAL
$432M
– –
-10,000
Closed -$130K
CBRL icon
2064
Cracker Barrel
CBRL
$1.26B
– –
-6,258
Closed -$276K
CMP icon
2065
Compass Minerals
CMP
$1.23B
– –
-10,468
Closed -$201K
CNXN icon
2066
PC Connection
CNXN
$2.09B
– –
-3,378
Closed -$209K
COOP
2067
DELISTED
Mr. Cooper
COOP
– –
-18,909
Closed -$3.99M
DFH icon
2068
Dream Finders Homes
DFH
$1.41B
– –
-8,472
Closed -$220K
EOLS icon
2069
Evolus
EOLS
$397M
– –
-14,309
Closed -$87.9K
EQX icon
2070
Equinox Gold
EQX
$7.07B
– –
-13,562
Closed -$152K
ETD icon
2071
Ethan Allen Interiors
ETD
$600M
– –
-7,148
Closed -$211K
ETNB
2072
DELISTED
89bio
ETNB
– –
-32,398
Closed -$476K
FNV icon
2073
Franco-Nevada
FNV
$41.3B
– –
-3,400
Closed -$758K
FPI
2074
Farmland Partners
FPI
$415M
– –
-12,928
Closed -$141K
GFI icon
2075
Gold Fields
GFI
$28.8B
– –
-15,884
Closed -$666K
81 82
83
84 85

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.