Latest Arizona State Retirement System Stock Portfolio

Arizona State Retirement System Performance:

2025 Q4: -2.26%YTD: 9.29%2024: 20.88%

Performance for 2025 Q4 is -2.26%, and YTD is 9.29%, and 2024 is 20.88%.

About Arizona State Retirement System and 13F Hedge Fund Stock Holdings

On 2026-01-28, the fund reported it's updated stock portfolio. In the 13F Holdings report, ARIZONA STATE RETIREMENT SYSTEM reported an equity portfolio of $18.4 Billions as of 31 Dec, 2025.

The top stock holdings of ARIZONA STATE RETIREMENT SYSTEM are NVDA, AAPL, MSFT. The fund has invested 7% of it's portfolio in NVIDIA CORPORATION and 6.2% of portfolio in APPLE INC.

The fund managers got completely rid off KELLANOVA (K), MR COOPER GROUP INC (COOP) and INTERPUBLIC GROUP COS INC (IPG) stocks. They significantly reduced their stock positions in FLUENCE ENERGY INC (FLNC), DAYFORCE INC (CDAY) and AVEANNA HEALTHCARE HLDGS INC (AVAH). ARIZONA STATE RETIREMENT SYSTEM opened new stock positions in AMRIZE LTD, ROCKET COS INC (RKT) and INVESCO EXCHANGE TRADED FD T (CSD). The fund showed a lot of confidence in some stocks as they added substantially to NETFLIX INC (NFLX), SERVICENOW INC (NOW) and TEXAS PACIFIC LAND CORPORATI (TPL).

Arizona State Retirement System Annual Return Estimates Vs S&P 500

Our best estimate is that ARIZONA STATE RETIREMENT SYSTEM made a return of -2.26% in the last quarter. In trailing 12 months, it's portfolio return was 9.29%.

Performance
S&P 500

New Buys

Ticker	$ Bought
amrize ltd	7,389,870
rocket cos inc	4,955,270
qnity electronics inc	4,696,510
invesco exchange traded fd t	4,647,440

New stocks bought by Arizona State Retirement System

Additions

Ticker	% Inc.
netflix inc	855
servicenow inc	384
texas pacific land corporati	181
omnicom group inc	52.37
carlyle group inc	19.54
royal gold inc	13.33
insmed inc	3.15
itt inc	2.84

Additions to existing portfolio by Arizona State Retirement System

Reductions

Ticker	% Reduced
las vegas sands corp	-19.11
lennar corp	-13.01
hca healthcare inc	-12.44
flutter entmt plc	-12.32
illumina inc	-10.43
tenet healthcare corp	-10.41
reddit inc	-9.97
newmont corp	-9.9

Arizona State Retirement System reduced stake in above stock

Sold off

None of the stocks were completely sold off by Arizona State Retirement System

Sector Distribution

ARIZONA STATE RETIREMENT SYSTEM has about 33.1% of it's holdings in Technology sector.

Sector	%
Technology	33.1
Financial Services	11.4
Consumer Cyclical	10.4
Communication Services	9.8
Healthcare	9.7
Industrials	8.3
Consumer Defensive	4.5
Others	3.6
Energy	2.9
Real Estate	2.3
Utilities	2.2
Basic Materials	1.8

Market Cap. Distribution

ARIZONA STATE RETIREMENT SYSTEM has about 89.3% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MEGA-CAP	48.5
LARGE-CAP	40.8
MID-CAP	5.8
UNALLOCATED	3.7
SMALL-CAP	1.1

Stocks belong to which Index?

About 88.1% of the stocks held by ARIZONA STATE RETIREMENT SYSTEM either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	84.1
Others	11.9
RUSSELL 2000	4

Top 5 Winners (%)		%
PRAX	praxis precision medicines i	395.7 %
	pacs group inc	174.3 %
COGT	cogent biosciences inc	143.3 %
WVE	wave life sciences ltd	129.1 %
CDTX	cidara therapeutics inc	125.3 %

Top 5 Winners ($)		$
GOOG	alphabet inc	116.9 M
GOOG	alphabet inc	98.7 M
AAPL	apple inc	73.7 M
LLY	eli lilly & co	72.3 M
MU	micron technology inc	38.1 M

Top 5 Losers (%)		%
NFLX	netflix inc	-86.7 %
NOW	servicenow inc	-75.1 %
TPL	texas pacific land corporati	-60.4 %
SMR	nuscale pwr corp	-59.6 %
QURE	uniqure nv	-58.3 %

Top 5 Losers ($)		$
NFLX	netflix inc	-725.1 M
NOW	servicenow inc	-135.5 M
MSFT	microsoft corp	-69.6 M
META	meta platforms inc	-46.4 M
ORCL	oracle corp	-42.1 M

Arizona State Retirement System Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Arizona State Retirement System

ARIZONA STATE RETIREMENT SYSTEM has 2048 stocks in it's portfolio. About 34.9% of the portfolio is in top 10 stocks. NFLX proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for ARIZONA STATE RETIREMENT SYSTEM last quarter.

Last Reported on: 28 Jan, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
A	agilent technologies inc	0.06	77,796	10,585,700	reduced	-7.31

AAPL	apple inc	6.20	4,194,590	1,140,340,000	reduced	-3.83

ABBV	abbvie inc	0.62	496,417	113,426,000	reduced	-3.77

ABC	cencora inc	0.10	51,841	17,509,300	reduced	-3.57

ABNB	airbnb inc	0.09	121,056	16,429,700	reduced	-3.96

ABT	abbott labs	0.34	494,902	62,006,300	reduced	-2.59

ACGL	arch cap group ltd	0.05	102,264	9,809,160	reduced	-7.82

ACN	accenture plc ireland	0.26	175,311	47,035,900	reduced	-3.61

ADBE	adobe inc	0.22	118,419	41,445,500	reduced	-4.41

ADI	analog devices inc	0.20	138,965	37,687,300	reduced	-4.11

ADM	archer daniels midland co	0.04	132,099	7,594,370	reduced	-7.07

ADP	automatic data processing in	0.16	114,052	29,337,600	reduced	-3.79

ADSK	autodesk inc	0.10	60,226	17,827,500	reduced	-3.63

AEE	ameren corp	0.04	74,204	7,410,010	reduced	-8.82

AEP	american elec pwr co inc	0.10	150,758	17,383,900	reduced	-3.36

AFL	aflac inc	0.09	143,366	15,809,000	reduced	-4.44

AFRM	affirm hldgs inc	0.03	74,327	5,532,160	reduced	-7.11

AIG	american intl group inc	0.07	155,983	13,344,300	reduced	-7.32

AJG	gallagher arthur j & co	0.10	72,211	18,687,500	reduced	-3.53

ALB	albemarle corp	0.03	32,907	4,654,370	reduced	-5.49