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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
PSX icon
201
Phillips 66
PSX
$82.5B
$14.6M 0.08%
113,347
-5,648
-5% -$760K
FTNT icon
202
Fortinet
FTNT
$110B
$14.6M 0.08%
183,358
-6,641
-3% -$551K
O icon
203
Realty Income
O
$61.3B
$14.6M 0.08%
258,182
-5,636
-2% -$326K
ALNY icon
204
Alnylam Pharmaceuticals
ALNY
$38.5B
$14.5M 0.08%
36,390
-2,122
-6% -$939K
F icon
205
Ford
F
$59.6B
$14.5M 0.08%
1,101,583
-39,015
-3% -$503K
URI icon
206
United Rentals
URI
$67.9B
$14.3M 0.08%
17,667
-1,547
-8% -$1.34M
VLO icon
207
Valero Energy
VLO
$88.7B
$14.2M 0.08%
87,221
-4,252
-5% -$720K
D icon
208
Dominion Energy
D
$62.1B
$14.1M 0.08%
240,687
-8,316
-3% -$501K
EW icon
209
Edwards Lifesciences
EW
$48.2B
$14.1M 0.08%
165,317
-5,968
-3% -$490K
CMG icon
210
Chipotle Mexican Grill
CMG
$43B
$13.9M 0.08%
376,644
-16,931
-4% -$612K
MPC icon
211
Marathon Petroleum
MPC
$89.3B
$13.9M 0.08%
85,395
-4,318
-5% -$807K
EA icon
212
Electronic Arts
EA
$52.4B
$13.7M 0.07%
66,910
-2,802
-4% -$566K
ROP icon
213
Roper Technologies
ROP
$38.7B
$13.5M 0.07%
30,403
-996
-3% -$461K
CAH icon
214
Cardinal Health
CAH
$54.5B
$13.4M 0.07%
65,322
-4,922
-7% -$926K
AIG icon
215
American International
AIG
$42.9B
$13.3M 0.07%
155,983
-12,326
-7% -$986K
CBRE icon
216
CBRE Group
CBRE
$43.1B
$13.1M 0.07%
81,648
-6,024
-7% -$947K
RBLX icon
217
Roblox
RBLX
$35.4B
$13.1M 0.07%
161,937
-3,595
-2% -$382K
WDAY icon
218
Workday
WDAY
$39.4B
$13.1M 0.07%
61,056
-2,024
-3% -$460K
OKE icon
219
Oneok
OKE
$55.9B
$13.1M 0.07%
177,815
-4,624
-3% -$328K
RSG icon
220
Republic Services
RSG
$66.6B
$13.1M 0.07%
61,598
-2,279
-4% -$491K
AMP icon
221
Ameriprise Financial
AMP
$48.3B
$13M 0.07%
26,555
-1,268
-5% -$602K
AME icon
222
Ametek
AME
$55.3B
$13M 0.07%
63,372
-4,970
-7% -$967K
TTWO icon
223
Take-Two Interactive
TTWO
$46.3B
$13M 0.07%
50,658
-3,127
-6% -$780K
COIN icon
224
Coinbase
COIN
$44.2B
$12.9M 0.07%
57,064
-1,588
-3% -$473K
CTVA icon
225
Corteva
CTVA
$59.5B
$12.8M 0.07%
191,331
-7,973
-4% -$515K
7 8
9
10 11

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CM
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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
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
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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.