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Maryland State Retirement & Pension System

120 E. BALTIMORE STREET, BALTIMORE, MD 21202 • 410-625-5555

Q1 2026 · Filed 2026-05-04
Market Value
$4.8B
+1.2%
Holdings
1,384
-2
New Purchases
41
Added To
179
Closed
57
Reduced
252
Top 10 Concentration
24.5%
Turnover
7.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AZN 0.68% 0.00% +0.68% $33M
ENB 3.26% 2.72% +0.54% $158M
LNG 1.20% 0.87% +0.33% $58M
TRP 1.79% 1.49% +0.30% $87M
TOTB.DE 0.63% 0.38% +0.25% $31M
TRGP 1.06% 0.82% +0.24% $51M
WMB 1.74% 1.52% +0.22% $85M
XOM 0.74% 0.53% +0.21% $36M
KMI 1.29% 1.11% +0.17% $62M
OKE 1.12% 0.96% +0.16% $54M
PBA 0.66% 0.53% +0.13% $32M
SU 0.43% 0.31% +0.12% $21M
ET 1.13% 1.03% +0.11% $55M
EPD 1.02% 0.91% +0.11% $49M
CVX 0.40% 0.30% +0.10% $20M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 2.84% 3.75% -0.90% $138M
AAPL 3.79% 4.14% -0.35% $184M
NVDA 4.23% 4.56% -0.33% $205M
AMZN 2.07% 2.31% -0.24% $100M
TSLA 1.09% 1.32% -0.24% $53M
META 1.29% 1.51% -0.21% $63M
AVGO 1.48% 1.67% -0.19% $72M
GOOGL 1.73% 1.90% -0.17% $84M
SHOP 0.44% 0.60% -0.16% $21M
GOOG 1.41% 1.55% -0.15% $68M
LLY 0.76% 0.90% -0.14% $37M
AMT 1.59% 1.70% -0.12% $77M
CCI 0.69% 0.80% -0.11% $34M
V 0.53% 0.62% -0.09% $26M
ORCL 0.26% 0.34% -0.09% $12M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 20.5%
Energy 20.1%
Financial Services 11.2%
Utilities 10.5%
Healthcare 7.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 57 $1.8B 36.9%
Large Cap 652 $2.7B 56.5%
Mid Cap 544 $296M 6.1%
Small Cap 130 $25M 0.5%
Micro Cap 1 $139K 0.0%

Portfolio Analytics

Avg Market Cap
$59.3B
Median Market Cap
$10.5B
Avg P/E
32.3
Median P/E
22.4
Avg Dividend Yield
0.02%
Avg Beta
1.04
# Stocks
1,379
# ETFs / Funds
5

Top Holdings (1,384 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 4.23% 1,175,902 $205M $174.40 -$13M +4,952 +0.4%
2 AAPL 3.79% 723,806 $184M $253.79 -$15M -5,697 -0.8%
3 ENB 3.26% 2,919,694 $158M $54.18 $28M +196,349 +7.2%
4 MSFT 2.84% 372,592 $138M $370.17 -$42M +1,376 +0.4%
5 AMZN 2.07% 481,953 $100M $208.27 -$10M +1,984 +0.4%
6 TRP 1.79% 1,392,122 $87M $62.53 $15M +93,054 +7.2%
7 WMB 1.74% 1,162,444 $85M $72.78 $12M -49,929 -4.1%
8 GOOGL 1.73% 291,969 $84M $287.56 -$7M +1,048 +0.4%
9 AMT 1.59% 446,060 $77M $172.58 -$5M -18,705 -4.0%
10 AVGO 1.48% 231,947 $72M $309.51 -$8M +909 +0.4%
11 GOOG 1.41% 237,706 $68M $286.86 -$6M +900 +0.4%
12 META 1.29% 109,650 $63M $572.13 -$9M +418 +0.4%
13 KMI 1.29% 1,863,368 $62M $33.53 $9M -78,665 -4.0%
14 SRE 1.25% 622,014 $60M $97.17 $3M -25,735 -4.0%
15 LNG 1.20% 204,795 $58M $283.76 $17M -9,022 -4.2%
16 ET 1.13% 2,849,140 $55M $19.30 $6M -129,983 -4.4%
17 OKE 1.12% 598,447 $54M $90.39 $8M -25,730 -4.1%
18 TSLA 1.09% 141,690 $53M $371.75 -$11M +553 +0.4%
19 TRGP 1.06% 204,295 $51M $250.73 $12M -8,626 -4.0%
20 EPD 1.02% 1,307,298 $49M $37.84 $6M -59,389 -4.3%
21 EXC 0.98% 973,654 $48M $49.02 $4M -30,390 -3.0%
22 BRK-B 0.92% 92,781 $44M $479.20 -$2M +565 +0.6%
23 JPM 0.83% 136,675 $40M $294.16 -$4M +629 +0.5%
24 ED 0.80% 343,781 $39M $113.18 $3M -14,775 -4.1%
25 LLY 0.76% 40,211 $37M $919.77 -$6M +132 +0.3%
26 PCG 0.76% 2,091,707 $37M $17.57 $2M -90,326 -4.1%
27 XOM 0.74% 212,591 $36M $169.66 $11M +999 +0.5%
28 FTS 0.71% 621,224 $35M $55.80 $5M +43,774 +7.6%
29 CCI 0.69% 414,177 $34M $81.31 -$5M -18,007 -4.2%
30 AZN 0.68% 169,590 $33M $194.48 +169,590 NEW
31 PBA 0.66% 712,792 $32M $44.82 $7M +47,973 +7.2%
32 TOTB.DE 0.63% 326,985 $31M $93.58 $12M +48,698 +17.5%
33 JNJ 0.61% 121,124 $30M $244.44 $5M +900 +0.8%
34 ATO 0.60% 157,038 $29M $184.72 $2M -2,189 -1.4%
35 WMT 0.56% 218,346 $27M $124.28 $3M +373 +0.2%
36 CNP 0.55% 621,246 $27M $43.16 $2M -25,682 -4.0%
37 EIX 0.55% 366,061 $27M $73.18 $4M -15,394 -4.0%
38 V 0.53% 84,743 $26M $302.24 -$4M +500 +0.6%
39 RY 0.53% 158,391 $26M $161.69 $315K +10,080 +6.8%
40 AEM 0.52% 125,320 $25M $203.03 $3M -7,393 -5.6%
41 AWK 0.52% 185,826 $25M $136.09 $40K -7,656 -4.0%
42 ES 0.51% 356,635 $25M $69.28 -$352K -15,557 -4.2%
43 COST 0.46% 22,351 $22M $996.43 $3M +120 +0.5%
44 TD 0.46% 237,776 $22M $93.41 $119K +3,475 +1.5%
45 B 0.45% 538,927 $22M $40.88 -$3M -41,456 -7.1%
46 SHOP 0.44% 180,494 $21M $118.68 -$7M +2,140 +1.2%
47 NI 0.44% 455,767 $21M $46.66 $2M -16,662 -3.5%
48 SU 0.43% 312,991 $21M $66.16 $6M -20,399 -6.1%
49 NFLX 0.42% 212,922 $20M $96.15 $555K +492 +0.2%
50 MA 0.42% 40,517 $20M $499.66 -$3M +267 +0.7%
51 CVX 0.40% 94,370 $20M $206.90 $5M +587 +0.6%
52 ABBV 0.40% 89,040 $19M $217.49 -$857K +538 +0.6%
53 MPLX 0.40% 339,111 $19M $57.07 $432K -15,415 -4.3%
54 MU 0.39% 56,044 $19M $337.84 $3M +227 +0.4%
55 SBAC 0.36% 101,398 $17M $172.11 -$3M -4,386 -4.2%
56 PG 0.35% 117,776 $17M $144.44 $133K
57 CAT 0.34% 23,231 $16M $708.46 $3M
58 HD 0.34% 49,935 $16M $328.89 -$760K
59 AMD 0.34% 80,722 $16M $203.43 -$814K +243 +0.3%
60 CNQ 0.34% 334,502 $16M $48.78 $5M -2,662 -0.8%
61 BAC 0.33% 330,698 $16M $48.75 -$2M -2,462 -0.7%
62 PLTR 0.33% 109,619 $16M $146.28 -$3M +527 +0.5%
63 CSCO 0.32% 199,919 $16M $77.59 $175K +823 +0.4%
64 MRK 0.31% 124,497 $15M $120.29 $2M -1,217 -1.0%
65 KO 0.31% 195,302 $15M $76.05 $1M +1,245 +0.6%
66 GE 0.30% 52,120 $15M $283.77 -$1M
67 CM 0.30% 154,521 $15M $94.79 $494K -1,525 -1.0%
68 BNS 0.29% 204,489 $14M $69.38 -$986K -1,134 -0.6%
69 UBS 0.28% 355,549 $14M $38.48 -$2M +24,132 +7.3%
70 AMAT 0.28% 39,990 $14M $341.79 $3M
71 LRCX 0.28% 63,100 $13M $213.66 $3M +427 +0.7%
72 RTX 0.27% 67,461 $13M $192.90 $779K +753 +1.1%
73 DTM 0.27% 96,476 $13M $134.67 $949K -4,153 -4.1%
74 SBS 0.27% 425,215 $13M $30.51 $141K -112,838 -21.0%
75 PM 0.27% 78,251 $13M $165.34 $387K
76 GS 0.26% 14,753 $12M $845.99 -$487K
77 ORCL 0.26% 84,441 $12M $147.11 -$4M
78 WFC 0.26% 155,725 $12M $79.61 -$2M -1,891 -1.2%
79 UNH 0.25% 45,686 $12M $270.59 -$3M +160 +0.3%
80 GEV 0.24% 13,551 $12M $872.90 $3M -97 -0.7%
81 LIN 0.24% 23,691 $12M $495.76 $2M +274 +1.2%
82 KGC 0.23% 372,270 $11M $30.58 -$866K -62,439 -14.4%
83 IBM 0.23% 46,645 $11M $242.39 -$2M +183 +0.4%
84 MCD 0.23% 35,915 $11M $310.79 $185K
85 BMO 0.22% 80,062 $11M $135.48 $1M +4,511 +6.0%
86 WTRG 0.22% 268,046 $11M $40.27 $61K -11,767 -4.2%
87 PEP 0.22% 69,161 $11M $155.29 $936K +852 +1.2%
88 VZ 0.22% 213,140 $11M $50.20 $2M +2,520 +1.2%
89 BN 0.21% 249,707 $10M $40.53 -$808K +11,797 +5.0%
90 T 0.21% 347,317 $10M $28.99 $1M +1,898 +0.6%
91 C 0.20% 87,213 $10M $113.41 -$478K -1,649 -1.9%
92 INTC 0.20% 221,341 $10M $44.13 $2M +1,188 +0.5%
93 NEE 0.20% 104,927 $10M $92.88 $1M
94 KLAC 0.20% 6,596 $10M $1,472.41 $2M
95 AMGN 0.20% 27,051 $10M $351.85 $743K +242 +0.9%
96 MS 0.19% 57,043 $9M $164.57 -$805K -369 -0.6%
97 PAA 0.19% 418,862 $9M $22.33 $1M -19,883 -4.5%
98 TMO 0.19% 18,924 $9M $491.53 -$2M +94 +0.5%
99 NTR 0.19% 120,158 $9M $75.50 $1M -7,198 -5.7%
100 PAC 0.19% 36,699 $9M $246.87 -$3M -9,981 -21.4%

New Positions

SymbolValue% Port
AZN $33M 0.68%
SUNB $3M 0.06%
AGX $1M 0.02%
VSNTV $1M 0.02%
LYB $1M 0.02%
APLS $837K 0.02%
VSEC $774K 0.02%
PIPR $756K 0.02%
MDLN $731K 0.02%
LAUR $680K 0.01%
LTH $596K 0.01%
RNG $584K 0.01%
INDV $557K 0.01%
CRCL $540K 0.01%
LIF $467K 0.01%

Sold Out Positions

SymbolValue% Port
AHRT —%
NVT —%
YETI —%
FOUR —%
RYAN —%
CTRE —%
INN —%
NSP —%
THO —%
SXC —%
KRC —%
DOCS —%
LAZ —%
LZB —%
TFIN —%
View SEC EDGAR Filings for Maryland State Retirement & Pension System →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms