Maryland State Retirement & Pension System Top Holdings and 13F Report (2025)

About Maryland State Retirement & Pension System

Investment Activity

Maryland State Retirement & Pension System has $4.20 billion in total holdings as of March 31, 2025.
Maryland State Retirement & Pension System owns shares of 1,450 different stocks, but just 268 companies or ETFs make up 80% of its holdings.
Approximately 2.77% of the portfolio was purchased this quarter.
About 10.50% of the portfolio was sold this quarter.
This quarter, Maryland State Retirement & Pension System has purchased 1,512 new stocks and bought additional shares in 95 stocks.
Maryland State Retirement & Pension System sold shares of 1,316 stocks and completely divested from 81 stocks this quarter.

Largest Holdings

Apple: $153,411,419
Enbridge: $131,794,760
Microsoft: $130,861,705
NVIDIA: $118,874,435
American Tower: $90,983,782

Largest New Holdings this Quarter

80004C200 - SANDISK CORP: $1,850,506 Holding
78377T107 - Ryman Hospitality Properties: $1,596,268 Holding
50077B207 - Kratos Defense & Security Solutions: $1,324,441 Holding
624758108 - Mueller Water Products: $1,161,211 Holding
48282T104 - Kadant: $1,154,591 Holding

Largest Purchases this Quarter

Royal Bank of Canada: 49,420 shares (about $5.57M)
Enbridge: 110,785 shares (about $4.90M)
ONEOK: 42,173 shares (about $4.18M)
iShares Global Infrastructure ETF: 74,325 shares (about $4.06M)
Shopify: 42,272 shares (about $4.03M)

Largest Sales this Quarter

Microsoft: 53,363 shares (about $20.03M)
Apple: 83,100 shares (about $18.46M)
NVIDIA: 168,043 shares (about $18.21M)
Amazon.com: 67,217 shares (about $12.79M)
Meta Platforms: 15,792 shares (about $9.10M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
AAPL Apple	$153,411,419	$18,459,003 ▼	-10.7%	690,638	3.7%	Computer and Technology
ENB Enbridge	$131,794,760	$4,901,971 ▲	3.9%	2,978,574	3.1%	Energy
MSFT Microsoft	$130,861,705	$20,031,937 ▼	-13.3%	348,602	3.1%	Computer and Technology
NVDA NVIDIA	$118,874,435	$18,212,500 ▼	-13.3%	1,096,830	2.8%	Computer and Technology
AMT American Tower	$90,983,782	$1,652,672 ▲	1.9%	418,124	2.2%	Finance
AMZN Amazon.com	$83,745,032	$12,788,706 ▼	-13.2%	440,161	2.0%	Retail/Wholesale
TRP TC Energy	$67,058,919	$2,532,849 ▲	3.9%	1,420,315	1.6%	Energy
WMB Williams Companies	$65,179,754	$1,206,017 ▲	1.9%	1,090,692	1.6%	Energy
META Meta Platforms	$59,174,881	$9,101,877 ▼	-13.3%	102,670	1.4%	Computer and Technology
OKE ONEOK	$55,087,539	$4,184,405 ▲	8.2%	555,206	1.3%	Energy
KMI Kinder Morgan	$49,357,984	$918,466 ▲	1.9%	1,730,038	1.2%	Energy
ET Energy Transfer	$48,684,161	$1,431,077 ▲	3.0%	2,618,836	1.2%	Energy
CHENIERE ENERGY INC	$46,446,608	$860,808 ▲	1.9%	200,720	1.1%	COM NEW
BRK.B Berkshire Hathaway	$45,695,897	$6,958,690 ▼	-13.2%	85,801	1.1%	Finance
XLU Utilities Select Sector SPDR Fund	$44,807,538		0.0%	568,263	1.1%	ETF
GOOGL Alphabet	$42,586,310	$6,533,385 ▼	-13.3%	275,390	1.0%	Computer and Technology
EPD Enterprise Products Partners	$42,047,951	$1,150,381 ▲	2.8%	1,231,633	1.0%	Energy
EXC Exelon	$41,438,316	$782,715 ▲	1.9%	899,269	1.0%	Utilities
CCI Crown Castle	$40,534,317	$749,726 ▲	1.9%	388,893	1.0%	Finance
SRE Sempra	$40,445,777	$748,138 ▲	1.9%	566,785	1.0%	Utilities
TRGP Targa Resources	$39,100,672	$726,102 ▲	1.9%	195,045	0.9%	Energy
AVGO Broadcom	$36,068,608	$5,080,161 ▼	-12.3%	215,425	0.9%	Computer and Technology
GOOG Alphabet	$35,517,641	$5,435,710 ▼	-13.3%	227,342	0.8%	Computer and Technology
ED Consolidated Edison	$34,284,006	$638,436 ▲	1.9%	310,010	0.8%	Utilities
TSLA Tesla	$33,736,671	$5,180,349 ▼	-13.3%	130,177	0.8%	Auto/Tires/Trucks
PCG PG&E	$33,716,386	$774,079 ▲	2.3%	1,962,537	0.8%	Utilities
JPM JPMorgan Chase & Co.	$32,290,556	$4,940,097 ▼	-13.3%	131,637	0.8%	Finance
LLY Eli Lilly and Company	$31,004,661	$4,739,072 ▼	-13.3%	37,540	0.7%	Medical
PBA Pembina Pipeline	$29,560,943	$334,547 ▲	1.1%	739,229	0.7%	Energy
FTS Fortis	$28,951,569	$841,120 ▼	-2.8%	635,742	0.7%	Utilities
V Visa	$28,317,869	$1,485,249 ▼	-5.0%	80,802	0.7%	Business Services
FERROVIAL SE	$27,719,115	$1,023,132 ▼	-3.6%	622,367	0.7%	ORD SHS
AWK American Water Works	$25,727,636	$475,752 ▲	1.9%	174,401	0.6%	Utilities
XOM Exxon Mobil	$24,493,752	$4,320,846 ▼	-15.0%	205,951	0.6%	Energy
UNH UnitedHealth Group	$22,577,815	$3,442,085 ▼	-13.2%	43,108	0.5%	Medical
ATO Atmos Energy	$21,927,019	$846,480 ▲	4.0%	141,849	0.5%	Utilities
SBAC SBA Communications	$21,165,622	$345,636 ▲	1.7%	96,203	0.5%	Finance
CNP CenterPoint Energy	$21,117,416	$370,452 ▲	1.8%	582,871	0.5%	Utilities
MA Mastercard	$20,957,368	$3,164,845 ▼	-13.1%	38,235	0.5%	Business Services
AMLP Alerian MLP ETF	$20,747,589		0.0%	399,453	0.5%	ETF
EIX Edison International	$20,392,978	$380,211 ▲	1.9%	346,113	0.5%	Utilities
ES Eversource Energy	$20,358,913	$379,741 ▲	1.9%	327,788	0.5%	Utilities
COST Costco Wholesale	$19,656,146	$2,971,641 ▼	-13.1%	20,783	0.5%	Retail/Wholesale
VNQ Vanguard Real Estate ETF	$19,420,830		0.0%	214,500	0.5%	ETF
PG Procter & Gamble	$18,822,719	$2,896,799 ▼	-13.3%	110,449	0.4%	Consumer Staples
JNJ Johnson & Johnson	$18,725,492	$2,853,941 ▼	-13.2%	112,913	0.4%	Medical
NFLX Netflix	$18,706,552	$2,851,677 ▼	-13.2%	20,060	0.4%	Consumer Discretionary
WMT Walmart	$17,832,256	$2,736,327 ▼	-13.3%	203,124	0.4%	Retail/Wholesale
ABBV AbbVie	$17,380,732	$2,651,685 ▼	-13.2%	82,955	0.4%	Medical
MPLX Mplx	$17,079,356	$437,687 ▲	2.6%	319,121	0.4%	Energy
HD Home Depot	$17,037,021	$2,637,995 ▼	-13.4%	46,487	0.4%	Retail/Wholesale
NI NiSource	$16,852,794	$389,073 ▲	2.4%	420,374	0.4%	Utilities
SHOP Shopify	$16,286,001	$4,031,610 ▲	32.9%	170,761	0.4%	Computer and Technology
RY Royal Bank of Canada	$14,943,854	$5,565,501 ▲	59.3%	132,697	0.4%	Finance
AEM Agnico Eagle Mines	$14,282,652	$2,131,767 ▲	17.5%	131,861	0.3%	Basic Materials
TD Toronto-Dominion Bank	$13,219,477	$3,811,936 ▲	40.5%	220,667	0.3%	Finance
KO Coca-Cola	$13,002,325	$1,987,312 ▼	-13.3%	181,546	0.3%	Consumer Staples
BAC Bank of America	$12,994,847	$1,986,515 ▼	-13.3%	311,403	0.3%	Finance
CVX Chevron	$12,825,288	$2,717,124 ▼	-17.5%	76,665	0.3%	Energy
UBS UBS Group	$12,695,125	$3,315,973 ▲	35.4%	417,706	0.3%	Finance
CRM Salesforce	$11,597,714	$1,787,009 ▼	-13.4%	43,217	0.3%	Computer and Technology
PM Philip Morris International	$11,539,354	$1,757,935 ▼	-13.2%	72,698	0.3%	Consumer Staples
CSCO Cisco Systems	$11,518,727	$1,758,673 ▼	-13.2%	186,659	0.3%	Computer and Technology
SU Suncor Energy	$11,098,709	$1,851,333 ▲	20.0%	286,710	0.3%	Energy
WFC Wells Fargo & Company	$11,066,357	$1,822,102 ▼	-14.1%	154,149	0.3%	Finance
ABT Abbott Laboratories	$10,729,793	$1,630,666 ▼	-13.2%	80,888	0.3%	Medical
IBM International Business Machines	$10,667,763	$1,628,972 ▼	-13.2%	42,901	0.3%	Computer and Technology
MRK Merck & Co., Inc.	$10,644,100	$1,631,657 ▼	-13.3%	118,584	0.3%	Medical
MCD McDonald's	$10,525,620	$1,607,456 ▼	-13.2%	33,696	0.3%	Retail/Wholesale
ORCL Oracle	$10,466,876	$1,370,697 ▼	-11.6%	74,865	0.2%	Computer and Technology
LINDE PLC	$10,462,465	$1,612,977 ▼	-13.4%	22,469	0.2%	SHS
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	$10,413,862	$346,002 ▼	-3.2%	583,083	0.2%	Utilities
BARRICK GOLD CORP	$10,384,852	$1,356,354 ▲	15.0%	535,002	0.2%	COM
GE GE Aerospace	$10,074,350	$1,542,356 ▼	-13.3%	50,334	0.2%	Industrials
PEP PepsiCo	$9,640,242	$1,471,811 ▼	-13.2%	64,294	0.2%	Consumer Staples
PAC Grupo Aeroportuario del Pacífico	$9,637,245	$320,190 ▼	-3.2%	51,950	0.2%	Transportation
T AT&T	$9,493,992	$1,431,562 ▼	-13.1%	335,714	0.2%	Computer and Technology
ALC Alcon	$9,053,011	$1,525,559 ▲	20.3%	96,176	0.2%	Medical
VZ Verizon Communications	$8,939,186	$1,348,326 ▼	-13.1%	197,072	0.2%	Computer and Technology
WTRG Essential Utilities	$8,934,847	$128,789 ▲	1.5%	226,027	0.2%	Utilities
TMO Thermo Fisher Scientific	$8,886,638	$1,373,376 ▼	-13.4%	17,859	0.2%	Medical
MFC Manulife Financial	$8,738,847	$1,963,378 ▲	29.0%	280,524	0.2%	Finance
DTM DT Midstream	$8,728,449	$460,596 ▲	5.6%	90,469	0.2%	Energy
BNS Bank of Nova Scotia	$8,659,200	$2,161,470 ▲	33.3%	182,677	0.2%	Finance
CNQ Canadian Natural Resources	$8,566,706	$2,281,247 ▲	36.3%	278,476	0.2%	Energy
CM Canadian Imperial Bank of Commerce	$8,400,264	$1,981,346 ▲	30.9%	149,368	0.2%	Finance
DIS Walt Disney	$8,381,703	$1,272,144 ▼	-13.2%	84,921	0.2%	Consumer Discretionary
RTX RTX	$8,236,760	$1,261,549 ▼	-13.3%	62,183	0.2%	Aerospace
ISRG Intuitive Surgical	$8,182,356	$1,268,387 ▼	-13.4%	16,521	0.2%	Medical
PALANTIR TECHNOLOGIES INC	$8,137,848	$992,966 ▼	-10.9%	96,420	0.2%	CL A
QCOM QUALCOMM	$8,021,975	$1,210,447 ▼	-13.1%	52,223	0.2%	Computer and Technology
PAA Plains All American Pipeline	$7,877,260	$215,520 ▲	2.8%	393,863	0.2%	Energy
INTU Intuit	$7,840,038	$1,238,418 ▼	-13.6%	12,769	0.2%	Computer and Technology
ADBE Adobe	$7,819,026	$1,358,080 ▼	-14.8%	20,387	0.2%	Computer and Technology
AMGN Amgen	$7,813,362	$1,229,999 ▼	-13.6%	25,079	0.2%	Medical
PGR Progressive	$7,736,361	$1,207,604 ▼	-13.5%	27,336	0.2%	Finance
AMD Advanced Micro Devices	$7,734,473	$1,176,681 ▼	-13.2%	75,282	0.2%	Computer and Technology
GS The Goldman Sachs Group	$7,718,531	$1,338,957 ▼	-14.8%	14,129	0.2%	Finance
TXN Texas Instruments	$7,649,110	$1,165,894 ▼	-13.2%	42,566	0.2%	Computer and Technology
NOW ServiceNow	$7,644,536	$1,177,491 ▼	-13.3%	9,602	0.2%	Computer and Technology

Showing largest 100 holdings. View all holdings.

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Maryland State Retirement & Pension System Top Holdings and 13F Report (2025)

About Maryland State Retirement & Pension System

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

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Maryland State Retirement & Pension System Top Holdings and 13F Report (2025)

About Maryland State Retirement & Pension System

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofMaryland State Retirement & Pension System

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools