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Arizona State Retirement System
Michael Viteri · Pension Fund · Multi-Strategy
The Arizona State Retirement System (ASRS) is a public pension fund founded in 1953 to provide retirement security, disability insurance, and health benefits to Arizona's public servants. Serving over 660,000 active and retired members, including teachers, university faculty, and municipal workers, the ASRS manages a multi-billion dollar trust fund to ensure long-term benefit sustainability. The institution is governed by a nine-member board appointed by the Governor and focuses on maintaining solvency through a robust governance model and a diversified investment portfolio spanning global markets.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +18.2% |
| YTD return | +12.8% |
| Sharpe ratio | 2.91 |
| Win rate | 54% |
| AUM | $8.7B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $8.7B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.azasrs.gov/ |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| NVDA | NVIDIA Corporation | 16.1% | +17.3% |
| AAPL | Apple Inc | 14.9% | +29.9% |
| MSFT | Microsoft Corporation | 11.0% | -0.4% |
| GOOGL | Alphabet Inc Class A | 11.0% | +38.8% |
| AMZN | Amazon.com Inc | 7.8% | +12.8% |
| AVGO | Broadcom Inc | 5.2% | +4.5% |
| META | Meta Platforms Inc. | 4.6% | -3.7% |
| MU | Micron Technology Inc | 3.5% | +94.4% |
| TSLA | Tesla Inc | 3.3% | -18.4% |
| JPM | JPMorgan Chase & Co | 3.0% | +12.3% |
| LLY | Eli Lilly and Company | 2.9% | +30.3% |
| AMD | Advanced Micro Devices Inc | 2.6% | +97.4% |
| BRK-A | Berkshire Hathaway Inc | 2.2% | +2.5% |
| XOM | Exxon Mobil Corp | 2.2% | +36.4% |
| JNJ | Johnson & Johnson | 2.0% | +36.8% |
| V | Visa Inc. Class A | 2.0% | +6.2% |
| WMT | Walmart Inc. Common Stock | 1.5% | +2.6% |
| MA | Mastercard Inc | 1.5% | +3.8% |
| INTC | Intel Corporation | 1.4% | +5.5% |
| ABBV | AbbVie Inc | 1.4% | +5.8% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | BUY | JPM | 3.0% → 3.0% |
| Sep 14, 2026 | BUY | INTC | 0.0% → 1.4% |
| Sep 14, 2026 | SELL | ABBV | 1.5% → 1.4% |
| Sep 14, 2026 | BUY | AMD | 2.5% → 2.6% |
| Sep 14, 2026 | SELL | BRK-A | 2.2% → 2.2% |
Investment Style Analysis
Arizona State Retirement System is widely recognized for employing a Multi-Strategy strategy. As of Sep 18, 2026, the firm oversees approximately $8.7B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductors and Internet Content & Information sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, Arizona State Retirement System made a significant move by increasing exposure to JPM. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The investment philosophy of the ASRS is rooted in the belief that asset allocation decisions are the primary drivers of total fund performance. The system utilizes a disciplined framework that combines long-term strategic asset allocation with short-term tactical adjustments to navigate market volatility and capture excess returns. ASRS targets an actuarial rate of return of approximately 7% to 8% and prioritizes a highly diversified portfolio across domestic and international equities, fixed income, real estate, and private markets. The strategy emphasizes forward-looking insights and the development of sound capital market views to maximize risk-adjusted returns for its beneficiaries.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Arizona State Retirement System.
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Frequently asked questions
How is the simulated portfolio for Arizona State Retirement System constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Arizona State Retirement System's largest holding?
As of the latest filing, Arizona State Retirement System's top position is NVIDIA Corporation (NVDA), representing 16.1% of the portfolio. This reflects a high-conviction bet by the institution.
What is Arizona State Retirement System's historical performance and risk profile?
Our simulation indicates a total return of +18.2% with a win rate of 54%. Notably, the portfolio maintains a Sharpe Ratio of 2.91, suggesting an excellent level of risk-adjusted returns compared to the broader market.
What sectors does Arizona State Retirement System primarily invest in?
Arizona State Retirement System has a strong preference for the Semiconductors sector, which makes up 28.9% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is Arizona State Retirement System's portfolio concentrated or diversified?
Arizona State Retirement System runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 42.0% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Arizona State Retirement System performed in 2026?
Our AI-simulated model portfolio for Arizona State Retirement System tracks a Year-to-Date (YTD) return of +12.8%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Michael Viteri manage Arizona State Retirement System directly?
Yes, Michael Viteri serves as the key portfolio manager for Arizona State Retirement System, overseeing the investment strategy and final capital allocation decisions.