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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
+14.68%
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
$17.4B
AUM Growth
+$1.65B
Cap. Flow
-$37.6M
Cap. Flow %
-0.22%
Top 10 Hldgs %
32.05%
Holding
2,132
New
46
Increased
1,574
Reduced
432
Closed
79

Top Buys

Rank Stock Value
1
COF icon
Capital One
COF
+$14M
2
BAC icon
Bank of America
BAC
+$5.74M
3
ALAB icon
Astera Labs
ALAB
+$2.99M
4
AMCR icon
Amcor
AMCR
+$2.3M
5
HOOD icon
Robinhood
HOOD
+$2.17M

Top Sells

Rank Stock Value
1
DFS
Discover Financial Services
DFS
+$12.4M
2
NVDA icon
NVIDIA
NVDA
+$11M
3
AAPL icon
Apple
AAPL
+$6.45M
4
MSFT icon
Microsoft
MSFT
+$6.18M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$4.98M

Sector Composition

Rank Sector Weight
1 Technology 32.46%
2 Financials 13.69%
3 Consumer Discretionary 10.92%
4 Healthcare 9.56%
5 Communication Services 9.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HCKT icon
2076
Hackett Group
HCKT
$255M
– –
-7,117
Closed -$208K
HEES
2077
DELISTED
H&E Equipment Services
HEES
– –
-9,449
Closed -$896K
HELE icon
2078
Helen of Troy
HELE
$658M
– –
-6,540
Closed -$350K
HONE
2079
DELISTED
HarborOne Bancorp
HONE
– –
-11,373
Closed -$118K
HPP
2080
Hudson Pacific Properties
HPP
$794M
– –
-5,498
Closed -$114K
HSTM icon
2081
HealthStream
HSTM
$814M
– –
-6,942
Closed -$223K
HUMA icon
2082
Humacyte
HUMA
$182M
– –
-27,575
Closed -$47K
ICHR icon
2083
Ichor Holdings
ICHR
$2.73B
– –
-9,632
Closed -$218K
INDI icon
2084
indie Semiconductor
INDI
$727M
– –
-51,369
Closed -$105K
IRWD icon
2085
Ironwood Pharmaceuticals
IRWD
$644M
– –
-41,313
Closed -$60.7K
JWN
2086
DELISTED
Nordstrom
JWN
– –
-28,382
Closed -$694K
KRNY icon
2087
Kearny Financial
KRNY
$595M
– –
-16,672
Closed -$104K
LASR icon
2088
nLIGHT
LASR
$3.82B
– –
-13,126
Closed -$102K
LPRO
2089
Open Lending Corp
LPRO
$372M
– –
-29,100
Closed -$80.3K
LQDT icon
2090
Liquidity Services
LQDT
$1.21B
– –
-6,617
Closed -$205K
LUV icon
2091
Southwest Airlines
LUV
$22.2B
– –
-43,359
Closed -$1.46M
LXU icon
2092
LSB Industries
LXU
$824M
– –
-14,381
Closed -$94.8K
MATV icon
2093
Mativ Holdings
MATV
$455M
– –
-15,586
Closed -$97.1K
MAX icon
2094
MediaAlpha
MAX
$734M
– –
-10,271
Closed -$94.9K
MBIN icon
2095
Merchants Bancorp
MBIN
$2.22B
– –
-5,895
Closed -$218K
MITK icon
2096
Mitek Systems
MITK
$768M
– –
-12,857
Closed -$106K
MNTK icon
2097
Montauk Renewables
MNTK
$270M
– –
-14,353
Closed -$30K
MRVI icon
2098
Maravai LifeSciences
MRVI
$987M
– –
-32,497
Closed -$71.8K
NVTS icon
2099
Navitas Semiconductor
NVTS
$2.78B
– –
-34,781
Closed -$71.3K
ORIC icon
2100
Oric Pharmaceuticals
ORIC
$1.24B
– –
-10,088
Closed -$56.3K
82 83
84
85 86

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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 Q2 2025 Portfolio in Review

As of Q2 2025, Arizona State Retirement System held 2,132 positions worth $17.4B, up 10% from $15.7B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Arizona State Retirement System's Q2 2025 filing shows 46 new, 1,574 increased, 432 reduced and 79 closed positions. Its largest new stake was Astera Labs: 37,825 shares worth $3.42M. The largest sale was Discover Financial Services, an estimated $12.4M.

By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 29% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Arizona State Retirement System's largest Q2 2025 buy was Astera Labs: 37,825 shares worth $3.42M.
  • Arizona State Retirement System added most to Capital One in Q2 2025, an estimated $14M increase.
  • Arizona State Retirement System's biggest Q2 2025 reduction was NVIDIA, cutting an estimated $11M.
  • Arizona State Retirement System fully exited Discover Financial Services in Q2 2025, selling an estimated $12.4M.
  • Arizona State Retirement System's ten largest holdings make up 32% of its $17.4B portfolio in Q2 2025.
  • Arizona State Retirement System opened 46 new positions and closed 79 in Q2 2025.
  • Arizona State Retirement System's portfolio value rose 10% quarter-over-quarter to $17.4B.

Based on Arizona State Retirement System's 13F filing for Q2 2025, filed 13 Aug 2025.