Arizona State Retirement System
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 6, 2025), Arizona State Retirement System reported 2,130 stock positions worth $16.4 billion. Its top holding was Apple (AAPL) at 6.8% of the portfolio, followed by Nvidia (NVDA, 6.3%) and Microsoft (MSFT, 5.3%). Compared with Q3 2024, it opened 44 new positions, sold out of 67, added to 1,672 and reduced 411. The biggest buy was Nvidia (NVDA, shares +8%) and the biggest sale an exit from BlackRock Finance (BLK).
- Most Recent 13F
- Q2 2026
- Location
- PHOENIX, AZ
- CIK
- 0001558481
- Portfolio Value
- $16.4B (Q4 2024)
- SEC Filing
- 0000897069-25-000186 ↗ filed Feb 6, 2025
Holdings Value
Holdings 2,130 stocks · $16.4B
| AAPL Apple Inc. | 6.78% | 4,427,210 | $1.1B | Add +5.6% |
| NVDA Nvidia Corp. | 6.27% | 7,642,796 | $1.0B | Add +8.0% |
| MSFT Microsoft Corp. | 5.30% | 2,056,059 | $866.6M | Add +1.2% |
| AMZN Amazon.com Inc. | 3.69% | 2,749,949 | $603.3M | Add +2.0% |
| META Meta Platforms Inc. Class A | 2.28% | 636,074 | $372.4M | Add +0.9% |
| TSLA Tesla Inc. | 2.06% | 836,648 | $337.9M | Add +1.7% |
| GOOGL Alphabet Inc. Class A | 1.97% | 1,704,907 | $322.7M | Add +0.8% |
| AVGO Broadcom Inc. | 1.83% | 1,290,686 | $299.2M | Add +1.8% |
| GOOG Alphabet Inc. Class C | 1.70% | 1,462,450 | $278.5M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 1.21% | 827,612 | $198.4M | Add +0.5% |
| LLY Eli Lilly & Co. | 1.11% | 234,962 | $181.4M | Add +1.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.07% | 385,422 | $174.7M | Add +1.5% |
| V Visa Inc. Class A | 0.94% | 485,687 | $153.5M | Add +7.6% |
| XOM Exxon Mobil Corp. | 0.85% | 1,291,755 | $139.0M | Add +0.4% |
| UNH Unitedhealth Group Inc. | 0.83% | 268,517 | $135.8M | Add +1.8% |
| MA Mastercard Inc. Class A | 0.77% | 239,800 | $126.3M | Add +0.7% |
| COST Costco Wholesale Corp. | 0.72% | 128,775 | $118.0M | Add +1.3% |
| WMT Walmart Inc. | 0.71% | 1,284,788 | $116.1M | Add +1.3% |
| PG The Procter & Gamble Co. | 0.70% | 682,887 | $114.5M | Add +0.9% |
| HD Home Depot Inc. | 0.69% | 288,685 | $112.3M | Add +1.5% |
| NFLX Netflix Inc. | 0.68% | 124,697 | $111.1M | Add +1.0% |
| JNJ Johnson & Johnson | 0.62% | 699,413 | $101.1M | Add +1.4% |
| CRM Salesforce Inc. | 0.57% | 277,637 | $92.8M | Reduce -0.1% |
| ABBV Abbvie Inc. | 0.56% | 513,008 | $91.2M | Add +1.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.54% | 2,028,439 | $89.1M | Add +0.5% |
| ORCL Oracle Corp. | 0.49% | 482,818 | $80.5M | Add +1.7% |
| KO The Coca-Cola Co. | 0.45% | 1,188,370 | $74.0M | Add +1.3% |
| MRK Merck & Co. Inc. | 0.45% | 735,667 | $73.2M | Add +1.3% |
| CVX Chevron Corp. | 0.45% | 504,410 | $73.1M | Add +0.5% |
| WFC Wells Fargo & Co. | 0.42% | 987,884 | $69.4M | Reduce -1.2% |
| CSCO Cisco Systems Inc. | 0.42% | 1,157,843 | $68.5M | Add +0.2% |
| ACN Accenture PLC Class A | 0.39% | 181,260 | $63.8M | Add +0.9% |
| NOW ServiceNow Inc. | 0.39% | 59,745 | $63.3M | Add +1.6% |
| PEP Pepsico Inc. | 0.37% | 397,975 | $60.5M | Add +1.1% |
| MCD McDonald's Corp. | 0.37% | 208,034 | $60.3M | Add +0.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 267,122 | $58.7M | Add +1.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.36% | 525,958 | $58.6M | Add +0.6% |
| LIN Linde PLC | 0.35% | 138,500 | $58.0M | Add +0.5% |
| TMO Thermo Fisher Scientific Inc. | 0.35% | 110,757 | $57.6M | Add +1.2% |
| ABT Abbott Laboratories | 0.35% | 504,519 | $57.1M | Add +1.1% |
| ADBE Adobe Inc. | 0.35% | 127,696 | $56.8M | Add +0.5% |
| AMD Advanced Micro Devices | 0.35% | 469,457 | $56.7M | Add +1.3% |
| PM Philip Morris International | 0.33% | 450,850 | $54.3M | Add +1.1% |
| ISRG Intuitive Surgical Inc. | 0.33% | 103,008 | $53.8M | Add +1.3% |
| GE General Electric filed as GE AEROSPACE | 0.32% | 314,354 | $52.4M | Add +0.2% |
| GS Goldman Sachs Group Inc. | 0.32% | 91,541 | $52.4M | Reduce -1.0% |
| INTU Intuit Inc. | 0.31% | 81,223 | $51.0M | Add +1.4% |
| CAT Caterpillar Inc. | 0.31% | 140,575 | $51.0M | Add +0.3% |
| TXN Texas Instruments Inc. | 0.30% | 264,608 | $49.6M | Add +1.4% |
| QCOM Qualcomm Inc. | 0.30% | 322,784 | $49.6M | Add +0.9% |
| AXP American Express Co. | 0.30% | 164,774 | $48.9M | Reduce -0.2% |
| VZ Verizon Communications Inc. | 0.30% | 1,220,059 | $48.8M | Add +1.1% |
| BKNG Booking Holdings Inc. | 0.29% | 9,714 | $48.3M | Reduce -0.0% |
| T AT&T Inc. | 0.29% | 2,076,910 | $47.3M | Add +1.0% |
| SPGI S&P Global Inc. | 0.28% | 92,752 | $46.2M | Add +1.1% |
| RTX RTX Corp. | 0.27% | 385,261 | $44.6M | Add +1.1% |
| PLTR Palantir Technologies Inc. Class A | 0.27% | 588,806 | $44.5M | Add +1.4% |
| MS Morgan Stanley | 0.27% | 351,392 | $44.2M | Add +0.6% |
| PFE Pfizer Inc. | 0.27% | 1,640,326 | $43.5M | Add +1.0% |
| DHR Danaher Corp. | 0.26% | 188,206 | $43.2M | Reduce -1.5% |
| NEE Nextera Energy Inc. | 0.26% | 595,259 | $42.7M | Add +1.1% |
| HON Honeywell International Inc. | 0.26% | 188,081 | $42.5M | Add +0.7% |
| CMCSA Comcast Corp. Class A | 0.26% | 1,118,989 | $42.0M | Reduce -0.3% |
| PGR Progressive Corp. | 0.25% | 169,591 | $40.6M | Add +1.0% |
| AMGN Amgen Inc. | 0.25% | 155,561 | $40.5M | Add +1.2% |
| LOW Lowe's Cos Inc. | 0.25% | 164,253 | $40.5M | Add +0.5% |
| UNP Union Pacific Corp. | 0.25% | 176,347 | $40.2M | Add +0.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 326,387 | $39.4M | Add +0.7% |
| C Citigroup Inc. | 0.24% | 551,909 | $38.8M | Add +0.9% |
| AMAT Applied Materials Inc. | 0.24% | 238,593 | $38.8M | Add +0.5% |
| ETN Eaton Corp. PLC | 0.23% | 115,242 | $38.2M | Add +0.6% |
| BSX Boston Scientific Corp. | 0.23% | 425,982 | $38.0M | Add +1.1% |
| COP Conocophillips | 0.23% | 377,315 | $37.4M | Add +13.0% |
| BA The Boeing Co. | 0.23% | 210,519 | $37.3M | Add +25.6% |
| BX Blackstone Inc. | 0.22% | 208,337 | $35.9M | Add +1.7% |
| SYK Stryker Corp. | 0.22% | 99,215 | $35.7M | Add +0.9% |
| ADP Automatic Data Processing | 0.21% | 117,916 | $34.5M | Add +0.5% |
| SCHW Schwab (charles) Corp. | 0.21% | 462,975 | $34.3M | Add +6.9% |
| PANW Palo Alto Networks Inc. | 0.21% | 188,296 | $34.3M | Add +1.4% |
| FISV Fiserv Inc. | 0.21% | 166,481 | $34.2M | Reduce -0.8% |
| TMUS T-Mobile US Inc. | 0.20% | 151,849 | $33.5M | Add +0.2% |
| GILD Gilead Sciences Inc. | 0.20% | 359,743 | $33.2M | Add +0.7% |
| BMY Bristol-Myers Squibb Co. | 0.20% | 586,005 | $33.1M | Add +0.8% |
| UBER Uber Technologies Inc. | 0.20% | 547,029 | $33.0M | Add +1.4% |
| DE Deere & Co. | 0.19% | 75,134 | $31.8M | Add +0.1% |
| CB Chubb Ltd. | 0.19% | 110,902 | $30.6M | Add +0.3% |
| ADI Analog Devices Inc. | 0.19% | 143,389 | $30.5M | Add +0.8% |
| MRSH Marsh & McLennan Cos | 0.18% | 142,088 | $30.2M | Add +0.4% |
| LMT Lockheed Martin Corp. | 0.18% | 61,980 | $30.1M | Add +0.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.18% | 74,607 | $30.0M | Add +0.9% |
| SBUX Starbucks Corp. | 0.18% | 327,459 | $29.9M | Add +0.8% |
| MDT Medtronic PLC | 0.18% | 370,464 | $29.6M | Add +0.8% |
| PLD Prologis Inc. | 0.17% | 267,402 | $28.3M | Add +0.7% |
| MRVL Marvell Technology Inc. | 0.17% | 249,419 | $27.5M | Add +0.5% |
| MU Micron Technology Inc. | 0.16% | 320,216 | $26.9M | Add +0.7% |
| UPS United Parcel Service Class B | 0.16% | 211,390 | $26.7M | Add +1.1% |
| KKR KKR & Co. Inc. | 0.16% | 179,300 | $26.5M | Add +0.7% |
| GEV GE Vernova Inc. | 0.16% | 79,243 | $26.1M | Add +0.8% |
| SO The Southern Co. | 0.16% | 315,818 | $26.0M | Add +0.7% |
| NKE Nike Inc. Class B | 0.16% | 343,396 | $26.0M | Reduce -1.1% |
Portfolio Sells Q3 2024 → Q4 2024
| BLK BlackRock Finance Inc. | Sold out | 0.00% | −0.26 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.19 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.18 |
| VTV Vanguard Mrngstr Val ETF-Aui | Sold out | 0.00% | −0.11 |
| IWD iShares Russell 1000 Value E | Sold out | 0.00% | −0.08 |
| DHR Danaher Corp. | Reduce -1.5% | 0.26% | −0.07 |
| HCA HCA Healthcare Inc. | Reduce -1.4% | 0.10% | −0.04 |
| CI The Cigna Group | Reduce -1.0% | 0.14% | −0.04 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -0.3% | 0.26% | −0.04 |
| NEM Newmont Corp. | Reduce -1.2% | 0.07% | −0.04 |
| APTV Aptiv Irish Holdings Ltd. | Sold out | 0.00% | −0.04 |
| NKE Nike Inc. Class B | Reduce -1.1% | 0.16% | −0.03 |
| ZTS Zoetis Inc. | Reduce -0.3% | 0.13% | −0.03 |
| DHI D.R. Horton Inc. | Reduce -1.3% | 0.07% | −0.03 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.03 |
| CEG Constellation Energy | Reduce -0.3% | 0.12% | −0.03 |
| MCHP Microchip Technology Inc. | Reduce -0.9% | 0.05% | −0.02 |
| CCI Crown Castle Inc. | Reduce -0.4% | 0.07% | −0.02 |
| CL Colgate-Palmolive Co. | Reduce -0.1% | 0.12% | −0.02 |
| MPC Marathon Petroleum Corp. | Reduce -5.2% | 0.08% | −0.02 |
| PSA Public Storage | Reduce -0.5% | 0.08% | −0.02 |
| TGT Target Corp. | Reduce -0.4% | 0.11% | −0.02 |
| DOW Dow Inc. | Reduce -1.7% | 0.05% | −0.02 |
| CTLT Catalent Inc. | Sold out | 0.00% | −0.02 |
| NOC Northrop Grumman Corp. | Reduce -1.0% | 0.11% | −0.02 |
| CTAS Cintas Corp. | Reduce -0.1% | 0.12% | −0.02 |
| O Realty Income Corp. | Reduce -0.3% | 0.08% | −0.02 |
| NXPI NXP Semiconductors NV | Reduce -0.3% | 0.09% | −0.02 |
| CNC Centene Corp. | Reduce -2.8% | 0.06% | −0.02 |
| PSX Phillips 66 | Reduce -1.4% | 0.08% | −0.02 |
| NUE Nucor Corp. | Reduce -1.9% | 0.05% | −0.02 |
| IDXX Idexx Laboratories Inc. | Reduce -1.4% | 0.06% | −0.02 |
| HUM Humana Inc. | Reduce -1.1% | 0.05% | −0.02 |
| IQV Iqvia Holdings Inc. | Reduce -0.9% | 0.06% | −0.02 |
| SWN Southwestern Energy Co. | Sold out | 0.00% | −0.01 |
| EXR Extra Space Storage Inc. | Reduce -0.9% | 0.06% | −0.01 |
| STZ Constellation Brands Inc. Class A | Reduce -1.1% | 0.06% | −0.01 |
| ECL Ecolab Inc. | Reduce -0.2% | 0.11% | −0.01 |
| BLDR Builders Firstsource Inc. | Reduce -3.3% | 0.03% | −0.01 |
| GIS General Mills Inc. | Reduce -1.5% | 0.06% | −0.01 |
| BIIB Biogen Inc. | Reduce -2.3% | 0.04% | −0.01 |
| SLB SLB Ltd. | Reduce -0.6% | 0.10% | −0.01 |
| AFL Aflac Inc. | Reduce -1.4% | 0.10% | −0.01 |
| EL Estee Lauder Companies Class A | Reduce -3.8% | 0.03% | −0.01 |
| DD Dupont DE Nemours Inc. | Reduce -1.2% | 0.06% | −0.01 |
| CSX CSX Corp. | Reduce -0.6% | 0.11% | −0.01 |
| LHX L3HARRIS Technologies Inc. | Reduce -0.4% | 0.07% | −0.01 |
| MMM 3M Co. | Reduce -0.2% | 0.12% | −0.01 |
| ED Consolidated Edison Inc. | Reduce -1.0% | 0.05% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| NVDA Nvidia Corp. | Add +8.0% | 6.27% | +0.85 |
| TSLA Tesla Inc. | Add +1.7% | 2.06% | +0.71 |
| AAPL Apple Inc. | Add +5.6% | 6.78% | +0.62 |
| AMZN Amazon.com Inc. | Add +2.0% | 3.69% | +0.52 |
| AVGO Broadcom Inc. | Add +1.8% | 1.83% | +0.45 |
| GOOGL Alphabet Inc. Class A | Add +0.8% | 1.97% | +0.20 |
| GOOG Alphabet Inc. Class C | Add +0.5% | 1.70% | +0.17 |
| V Visa Inc. Class A | Add +7.6% | 0.94% | +0.16 |
| PLTR Palantir Technologies Inc. Class A | Add +1.4% | 0.27% | +0.14 |
| NFLX Netflix Inc. | Add +1.0% | 0.68% | +0.13 |
| JPM JPMorgan Chase & Co. | Add +0.5% | 1.21% | +0.12 |
| FLUT Flutter Entertainment PLC-Di | New | 0.08% | +0.08 |
| APP AppLovin Corp. Class A | Add +3.1% | 0.12% | +0.07 |
| BA The Boeing Co. | Add +25.6% | 0.23% | +0.07 |
| WMT Walmart Inc. | Add +1.3% | 0.71% | +0.06 |
| MRVL Marvell Technology Inc. | Add +0.5% | 0.17% | +0.06 |
| NOW ServiceNow Inc. | Add +1.6% | 0.39% | +0.06 |
| MSTR Strategy Inc. | Add +17.5% | 0.09% | +0.05 |
| DIS The Walt Disney Co. | Add +0.6% | 0.36% | +0.04 |
| MS Morgan Stanley | Add +0.6% | 0.27% | +0.04 |
| BAC Bank of America Corp. | Add +0.5% | 0.54% | +0.04 |
| GEV GE Vernova Inc. | Add +0.8% | 0.16% | +0.03 |
| SCHW Schwab (charles) Corp. | Add +6.9% | 0.21% | +0.03 |
| CSCO Cisco Systems Inc. | Add +0.2% | 0.42% | +0.03 |
| MA Mastercard Inc. Class A | Add +0.7% | 0.77% | +0.03 |
| APO Apollo Global Management Inc. | Add +0.3% | 0.12% | +0.03 |
| AXON Axon Enterprise Inc. | Add +1.4% | 0.08% | +0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.3% | 0.14% | +0.02 |
| COIN Coinbase Global Inc. Class A | Add +1.5% | 0.08% | +0.02 |
| RCL Royal Caribbean Cruises Ltd. | Add +1.4% | 0.10% | +0.02 |
| BX Blackstone Inc. | Add +1.7% | 0.22% | +0.02 |
| C Citigroup Inc. | Add +0.9% | 0.24% | +0.02 |
| EXE Expand Energy Corp. | Add +85.8% | 0.04% | +0.02 |
| FTNT Fortinet Inc. | Add +0.2% | 0.11% | +0.02 |
| COF Capital One Financial Corp. | Add +0.3% | 0.12% | +0.02 |
| HON Honeywell International Inc. | Add +0.7% | 0.26% | +0.02 |
| KMI Kinder Morgan Inc. | Add +0.1% | 0.10% | +0.02 |
| KKR KKR & Co. Inc. | Add +0.7% | 0.16% | +0.02 |
| WMB Williams Cos Inc. | Add +0.3% | 0.12% | +0.02 |
| AJG Arthur J Gallagher & Co. | Add +15.9% | 0.13% | +0.01 |
| GILD Gilead Sciences Inc. | Add +0.7% | 0.20% | +0.01 |
| NET Cloudflare Inc. Class A | Add +2.4% | 0.06% | +0.01 |
| MCK McKesson Corp. | Add +0.4% | 0.13% | +0.01 |
| HUBS HubSpot Inc. | Add +2.1% | 0.06% | +0.01 |
| DFS Discover Financial Services | Add +1.6% | 0.08% | +0.01 |
| ISRG Intuitive Surgical Inc. | Add +1.3% | 0.33% | +0.01 |
| RDDT Reddit Inc. Class A | Add +131.4% | 0.02% | +0.01 |
| SOFI Sofi Technologies Inc. | Add +1.6% | 0.03% | +0.01 |
| HOOD Robinhood Markets Inc. Class A | Add +2.5% | 0.04% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +0.8% | 0.20% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,071 | $19.9B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 2,051 | $17.1B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 2,047 | $18.4B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 2,081 | $18.8B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2025 | 2,053 | $17.4B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 2,086 | $15.7B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 2,130 | $16.4B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 2,151 | $15.9B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 2,101 | $15.0B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 2,124 | $14.5B | MSFT, AAPL, NVDA, AMZN, META |