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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
NTGR icon
2101
NETGEAR
NTGR
$620M
– –
-8,079
Closed -$262K
NXRT
2102
NexPoint Residential Trust
NXRT
$689M
– –
-6,362
Closed -$205K
ODP
2103
DELISTED
ODP
ODP
– –
-8,419
Closed -$234K
OEC icon
2104
Orion
OEC
$399M
– –
-16,651
Closed -$126K
ACH
2105
Accendra Health
ACH
$247M
– –
-22,671
Closed -$109K
PAAS icon
2106
Pan American Silver
PAAS
$17.9B
– –
-7,531
Closed -$292K
PGRE
2107
DELISTED
Paramount Group
PGRE
– –
-51,898
Closed -$339K
PINC
2108
DELISTED
Premier
PINC
– –
-24,362
Closed -$677K
PRO
2109
DELISTED
PROS Holdings
PRO
– –
-12,744
Closed -$292K
PTLO icon
2110
Portillo's
PTLO
$345M
– –
-20,048
Closed -$129K
PUBM icon
2111
PubMatic
PUBM
$607M
– –
-11,305
Closed -$93.6K
REPL icon
2112
Replimune Group
REPL
$432M
– –
-11,397
Closed -$47.8K
RGR icon
2113
Sturm, Ruger & Co
RGR
$600M
– –
-4,899
Closed -$213K
SCS
2114
DELISTED
Steelcase
SCS
– –
-25,503
Closed -$439K
SITC icon
2115
SITE Centers
SITC
$234M
– –
-13,967
Closed -$126K
SPR
2116
DELISTED
Spirit AeroSystems
SPR
– –
-34,716
Closed -$1.34M
TH icon
2117
Target Hospitality
TH
$1.43B
– –
-10,279
Closed -$87.2K
THRY icon
2118
Thryv Holdings
THRY
$183M
– –
-12,263
Closed -$148K
TR icon
2119
Tootsie Roll Industries
TR
$2.97B
– –
-5,732
Closed -$233K
TREE icon
2120
LendingTree
TREE
$563M
– –
-3,395
Closed -$220K
TWI icon
2121
Titan International
TWI
$493M
– –
-15,080
Closed -$114K
VBTX
2122
DELISTED
Veritex Holdings
VBTX
– –
-16,059
Closed -$538K
VMEO
2123
DELISTED
Vimeo
VMEO
– –
-43,564
Closed -$338K
VRNT
2124
DELISTED
Verint Systems
VRNT
– –
-17,794
Closed -$360K
WEST icon
2125
Westrock Coffee
WEST
$809M
– –
-11,193
Closed -$54.4K
82 83 84
85
86

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.