# ARIZONA STATE RETIREMENT SYSTEM

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1558481. Source: https://holderbook.com/funds/1558481-arizona-state-retirement-system/

- Reported value: $19.9B
- Positions: 2,071
- Weight of the ten largest: 32.0%
- Filed: 2026-08-07

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.3B | 6,405,642 | 6.4% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.2B | 4,073,733 | 5.9% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $730.2M | 1,957,446 | 3.7% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $640.1M | 2,685,688 | 3.2% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $577.3M | 1,615,493 | 2.9% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $471.5M | 1,248,090 | 2.4% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $453.2M | 1,282,599 | 2.3% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $361.2M | 312,924 | 1.8% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $343.2M | 609,361 | 1.7% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $328.5M | 780,920 | 1.7% | 26 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $267.3M | 222,844 | 1.3% | 31 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $262.8M | 452,388 | 1.3% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $243.6M | 744,264 | 1.2% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $193.1M | 385,899 | 1.0% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $170.2M | 1,219,079 | 0.9% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $169.7M | 668,344 | 0.9% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $160.0M | 466,471 | 0.8% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $159.2M | 220,211 | 0.8% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $157.7M | 1,153,365 | 0.8% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $150.2M | 346,510 | 0.8% | 6 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $137.8M | 1,216,703 | 0.7% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $137.5M | 129,108 | 0.7% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $128.7M | 1,096,019 | 0.6% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $123.5M | 490,797 | 0.6% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $116.7M | 227,208 | 0.6% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $115.2M | 123,105 | 0.6% | 31 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $109.7M | 363,713 | 0.6% | 31 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $108.4M | 289,920 | 0.5% | 20 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $107.3M | 1,883,657 | 0.5% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $104.7M | 251,862 | 0.5% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $97.5M | 276,374 | 0.5% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $94.6M | 644,865 | 0.5% | 31 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $90.3M | 39,709 | 0.5% | 6 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $88.2M | 686,042 | 0.4% | 31 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $87.9M | 74,789 | 0.4% | 9 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $87.4M | 1,074,888 | 0.4% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $84.9M | 512,155 | 0.4% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $83.4M | 1,168,416 | 0.4% | 31 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $82.8M | 81,855 | 0.4% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $78.2M | 432,462 | 0.4% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $76.7M | 225,037 | 0.4% | 26 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $75.3M | 252,636 | 0.4% | 31 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $73.2M | 260,286 | 0.4% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $70.9M | 373,482 | 0.4% | 25 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $70.5M | 604,307 | 0.4% | 21 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $70.5M | 236,579 | 0.4% | 21 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $70.3M | 850,284 | 0.4% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $70.2M | 478,829 | 0.4% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $68.7M | 328,814 | 0.3% | 31 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $66.7M | 128,583 | 0.3% | 14 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $66.2M | 473,271 | 0.3% | 31 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $61.3M | 96,018 | 0.3% | 31 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $60.2M | 341,144 | 0.3% | 31 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $58.5M | 60,609 | 0.3% | 21 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $56.3M | 220,483 | 0.3% | 31 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $54.7M | 296,072 | 0.3% | 31 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $54.2M | 149,581 | 0.3% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $53.8M | 135,467 | 0.3% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $53.3M | 197,122 | 0.3% | 31 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $52.3M | 68,502 | 0.3% | 25 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $51.7M | 103,118 | 0.3% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $51.4M | 379,252 | 0.3% | 31 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $50.8M | 578,632 | 0.3% | 31 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $50.3M | 296,365 | 0.3% | 6 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $49.9M | 147,476 | 0.3% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $49.1M | 1,159,870 | 0.2% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $47.3M | 491,563 | 0.2% | 31 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $46.5M | 307,119 | 0.2% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $45.9M | 107,658 | 0.2% | 31 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $44.8M | 207,154 | 0.2% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $44.8M | 164,735 | 0.2% | 31 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $44.4M | 195,494 | 0.2% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $43.9M | 483,276 | 0.2% | 31 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $43.5M | 344,415 | 0.2% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $42.8M | 67,454 | 0.2% | 31 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $42.3M | 458,174 | 0.2% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $40.1M | 1,937,411 | 0.2% | 31 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $39.4M | 40,956 | 0.2% | 6 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $39.2M | 98,553 | 0.2% | 31 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $38.7M | 217,321 | 0.2% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $38.0M | 1,578,409 | 0.2% | 31 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $36.5M | 353,014 | 0.2% | 31 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $36.1M | 83,586 | 0.2% | 26 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $35.7M | 494,533 | 0.2% | 26 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $35.5M | 162,316 | 0.2% | 31 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $35.3M | 339,176 | 0.2% | 31 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $35.1M | 70,580 | 0.2% | 31 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $35.0M | 258,676 | 0.2% | 31 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $34.7M | 221,319 | 0.2% | 31 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $34.3M | 155,407 | 0.2% | 31 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $34.3M | 84,115 | 0.2% | 31 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $34.3M | 35,022 | 0.2% | 31 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $33.8M | 100,856 | 0.2% | 25 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $33.7M | 176,736 | 0.2% | 31 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $33.4M | 463,758 | 0.2% | 31 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $33.3M | 165,992 | 0.2% | 31 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $33.1M | 97,018 | 0.2% | 31 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $32.8M | 63,700 | 0.2% | 17 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $32.6M | 566,542 | 0.2% | 31 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $32.3M | 316,134 | 0.2% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +15.4% | +14.8% | +0.5% | 100% |
| Q1 2026 | -4.2% | -4.6% | +0.4% | 100% |
| Q4 2025 | +2.1% | +2.4% | -0.2% | 100% |
| Q3 2025 | +7.9% | +7.8% | +0.1% | 100% |
| Q2 2025 | +10.7% | +10.5% | +0.2% | 100% |
| Q1 2025 | -5.1% | -4.6% | -0.6% | 100% |
| Q4 2024 | +2.2% | +2.1% | +0.0% | 100% |
| Q3 2024 | +5.8% | +5.4% | +0.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $19.9B | 2,071 |
| Q1 2026 | $17.1B | 2,051 |
| Q4 2025 | $18.4B | 2,048 |
| Q3 2025 | $18.8B | 2,081 |
| Q2 2025 | $17.4B | 2,053 |
| Q1 2025 | $15.7B | 2,086 |
| Q4 2024 | $16.4B | 2,130 |
| Q3 2024 | $15.9B | 2,151 |
| Q2 2024 | $15.0B | 2,101 |
| Q1 2024 | $14.5B | 2,124 |
| Q4 2023 | $13.2B | 2,145 |
| Q3 2023 | $11.8B | 2,170 |