Maryland State Retirement & Pension System
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Maryland State Retirement & Pension System reported 1,512 stock positions worth $4.6 billion. Its top holding was Apple (AAPL) at 4.2% of the portfolio, followed by Nvidia (NVDA, 3.7%) and Microsoft (MSFT, 3.7%). Compared with Q3 2024, it opened 22 new positions, sold out of 35, added to 114 and reduced 777. The biggest buy was Enbridge (ENB, shares +1%) and the biggest sale American Tower (AMT, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- BALTIMORE, MD
- CIK
- 0001795552
- Portfolio Value
- $4.6B (Q4 2024)
- SEC Filing
- 0001085146-25-000969 ↗ filed Feb 11, 2025
Holdings Value
Holdings 1,512 stocks · $4.6B
| AAPL Apple Inc. | 4.18% | 773,738 | $193.8M | Reduce -7.4% |
| NVDA Nvidia Corp. | 3.66% | 1,264,873 | $169.9M | Reduce -6.0% |
| MSFT Microsoft Corp. | 3.66% | 401,965 | $169.4M | Reduce -6.0% |
| ENB Enbridge Inc. | 2.62% | 2,867,789 | $121.7M | Add +1.2% |
| AMZN Amazon.com Inc. | 2.40% | 507,378 | $111.3M | Reduce -5.0% |
| AMT American Tower Corp. | 1.62% | 410,529 | $75.3M | Reduce -2.5% |
| META Meta Platforms Inc. Class A | 1.50% | 118,462 | $69.4M | Reduce -6.0% |
| TRP TC Energy Corp. | 1.37% | 1,366,669 | $63.7M | Add +1.1% |
| TSLA Tesla Inc. | 1.31% | 150,166 | $60.6M | Reduce -6.1% |
| GOOGL Alphabet Inc. Class A | 1.30% | 317,639 | $60.1M | Reduce -6.1% |
| WMB Williams Cos Inc. | 1.25% | 1,070,511 | $57.9M | Reduce -2.6% |
| AVGO Broadcom Inc. | 1.23% | 245,767 | $57.0M | Reduce -6.1% |
| OKE Oneok Inc. | 1.11% | 513,033 | $51.5M | Reduce -2.6% |
| GOOG Alphabet Inc. Class C | 1.08% | 262,135 | $49.9M | Reduce -7.5% |
| ET Energy Transfer LP | 1.07% | 2,541,855 | $49.8M | Reduce -2.3% |
| SRE Sempra | 1.05% | 556,301 | $48.8M | Reduce -2.5% |
| KMI Kinder Morgan Inc. | 1.00% | 1,697,845 | $46.5M | Reduce -2.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.97% | 98,867 | $44.8M | Reduce -6.1% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.93% | 568,263 | $43.0M | No change |
| LNG Cheniere Energy Inc. | 0.91% | 197,000 | $42.3M | Reduce -3.5% |
| PCG P G & E Corp. | 0.83% | 1,917,480 | $38.7M | Reduce -0.5% |
| EPD Enterprise Products Partners | 0.81% | 1,197,937 | $37.6M | Reduce -2.4% |
| JPM JPMorgan Chase & Co. | 0.78% | 151,776 | $36.4M | Reduce -7.9% |
| CCI Crown Castle Inc. | 0.75% | 381,700 | $34.6M | Reduce -2.6% |
| TRGP Targa Resources Corp. | 0.74% | 191,423 | $34.2M | Reduce -3.1% |
| LLY Eli Lilly & Co. | 0.72% | 43,278 | $33.4M | Reduce -6.1% |
| EXC Exelon Corp. | 0.72% | 882,283 | $33.2M | Reduce -2.1% |
| FTS Fortis Inc. | 0.59% | 654,212 | $27.2M | Add +6.2% |
| ED Consolidated Edison Inc. | 0.59% | 304,237 | $27.1M | Reduce -2.4% |
| FER Ferrovial NV | 0.59% | 645,339 | $27.1M | Add +3.9% |
| EIX Edison International | 0.59% | 339,660 | $27.1M | Reduce -2.3% |
| PBA Pembina Pipeline Corp. | 0.58% | 730,863 | $27.0M | Add +1.3% |
| V Visa Inc. Class A | 0.58% | 85,040 | $26.9M | Reduce -6.3% |
| XOM Exxon Mobil Corp. | 0.56% | 242,282 | $26.1M | Reduce -6.2% |
| UNH Unitedhealth Group Inc. | 0.54% | 49,680 | $25.1M | Reduce -6.2% |
| MA Mastercard Inc. Class A | 0.50% | 44,009 | $23.2M | Reduce -7.5% |
| COST Costco Wholesale Corp. | 0.47% | 23,925 | $21.9M | Reduce -6.3% |
| PG The Procter & Gamble Co. | 0.46% | 127,447 | $21.4M | Reduce -6.2% |
| AWK American Water Works Co. Inc. | 0.46% | 171,176 | $21.3M | Reduce -2.6% |
| WMT Walmart Inc. | 0.46% | 234,293 | $21.2M | Reduce -6.3% |
| HD Home Depot Inc. | 0.45% | 53,685 | $20.9M | Reduce -5.9% |
| NFLX Netflix Inc. | 0.44% | 23,118 | $20.6M | Reduce -5.8% |
| SBAC SBA Communications Corp. | 0.42% | 94,632 | $19.3M | Reduce -2.3% |
| AMLP Alerian MLP ETF | 0.41% | 399,453 | $19.2M | No change |
| VNQ Vanguard Real Estate ETF | 0.41% | 214,500 | $19.1M | No change |
| ATO Atmos Energy Corp. | 0.41% | 136,373 | $19.0M | Reduce -2.4% |
| JNJ Johnson & Johnson | 0.41% | 130,122 | $18.8M | Reduce -6.3% |
| ES Eversource Energy | 0.40% | 321,674 | $18.5M | Reduce -0.0% |
| CNP Centerpoint Energy Inc. | 0.39% | 572,646 | $18.2M | Reduce -2.3% |
| ABBV Abbvie Inc. | 0.37% | 95,611 | $17.0M | Reduce -6.3% |
| CRM Salesforce Inc. | 0.36% | 49,876 | $16.7M | Reduce -7.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.34% | 359,007 | $15.8M | Reduce -8.2% |
| NI Nisource Inc. | 0.33% | 410,669 | $15.1M | Add +1.6% |
| MPLX MPLX LP | 0.32% | 310,943 | $14.9M | Reduce -2.5% |
| ORCL Oracle Corp. | 0.30% | 84,669 | $14.1M | Reduce -6.4% |
| SHOP Shopify Inc. Class A | 0.29% | 128,489 | $13.7M | Add +3.0% |
| MRK Merck & Co. Inc. | 0.29% | 136,762 | $13.6M | Reduce -6.4% |
| CVX Chevron Corp. | 0.29% | 92,907 | $13.5M | Reduce -6.3% |
| KO The Coca-Cola Co. | 0.28% | 209,294 | $13.0M | Reduce -6.5% |
| CSCO Cisco Systems Inc. | 0.27% | 215,158 | $12.7M | Reduce -8.0% |
| WFC Wells Fargo & Co. | 0.27% | 179,530 | $12.6M | Reduce -11.2% |
| NOW ServiceNow Inc. | 0.25% | 11,081 | $11.7M | Reduce -6.4% |
| PEP Pepsico Inc. | 0.24% | 74,110 | $11.3M | Reduce -6.5% |
| MCD McDonald's Corp. | 0.24% | 38,842 | $11.3M | Reduce -6.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.23% | 97,810 | $10.9M | Reduce -7.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 49,452 | $10.9M | Reduce -6.5% |
| LIN Linde PLC | 0.23% | 25,933 | $10.9M | Reduce -6.4% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 20,619 | $10.7M | Reduce -6.4% |
| ADBE Adobe Inc. | 0.23% | 23,928 | $10.6M | Reduce -6.2% |
| ABT Abbott Laboratories | 0.23% | 93,181 | $10.5M | Reduce -6.6% |
| AMD Advanced Micro Devices | 0.23% | 86,735 | $10.5M | Reduce -6.3% |
| PM Philip Morris International | 0.22% | 83,773 | $10.1M | Reduce -6.6% |
| RY Royal Bank of Canada | 0.22% | 83,277 | $10.0M | Reduce -0.1% |
| ISRG Intuitive Surgical Inc. | 0.21% | 19,082 | $10.0M | Reduce -6.3% |
| GE General Electric filed as GE AEROSPACE | 0.21% | 58,040 | $9.7M | Reduce -7.5% |
| CAT Caterpillar Inc. | 0.21% | 26,404 | $9.6M | Reduce -6.4% |
| GS Goldman Sachs Group Inc. | 0.20% | 16,580 | $9.5M | Reduce -8.8% |
| UBS UBS Group AG-Reg | 0.20% | 308,601 | $9.4M | Reduce -2.4% |
| PAC Grupo Aeroportuario Pac-ADR | 0.20% | 53,676 | $9.4M | Add +5.8% |
| INTU Intuit Inc. | 0.20% | 14,786 | $9.3M | Reduce -6.1% |
| QCOM Qualcomm Inc. | 0.20% | 60,103 | $9.2M | Reduce -6.7% |
| TXN Texas Instruments Inc. | 0.20% | 49,054 | $9.2M | Reduce -6.6% |
| VZ Verizon Communications Inc. | 0.20% | 226,797 | $9.1M | Reduce -6.7% |
| AXP American Express Co. | 0.19% | 30,203 | $9.0M | Reduce -6.6% |
| BKNG Booking Holdings Inc. | 0.19% | 1,788 | $8.9M | Reduce -9.0% |
| T AT&T Inc. | 0.19% | 386,335 | $8.8M | Reduce -6.7% |
| AEM Agnico Eagle Mines Ltd. | 0.19% | 112,180 | $8.8M | Add +4.8% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.19% | 602,456 | $8.6M | Add +5.8% |
| SU Suncor Energy Inc. | 0.18% | 238,885 | $8.5M | Add +4.4% |
| DTM DT Midstream Inc. | 0.18% | 85,695 | $8.5M | Reduce -2.1% |
| SPGI S&P Global Inc. | 0.18% | 16,848 | $8.4M | Reduce -6.7% |
| TD Toronto-Dominion Bank | 0.18% | 157,036 | $8.4M | Add +1.9% |
| RTX RTX Corp. | 0.18% | 71,707 | $8.3M | Reduce -6.5% |
| BLK BlackRock Inc. | 0.18% | 7,983 | $8.2M | Reduce -6.3% |
| PLTR Palantir Technologies Inc. Class A | 0.18% | 108,185 | $8.2M | Reduce -6.0% |
| PFE Pfizer Inc. | 0.17% | 304,979 | $8.1M | Reduce -6.7% |
| WTRG Essential Utilities Inc. | 0.17% | 222,769 | $8.1M | Reduce -1.8% |
| DHR Danaher Corp. | 0.17% | 34,781 | $8.0M | Reduce -6.6% |
| NEE Nextera Energy Inc. | 0.17% | 110,680 | $7.9M | Reduce -6.7% |
| HON Honeywell International Inc. | 0.17% | 35,122 | $7.9M | Reduce -6.5% |
Portfolio Sells Q3 2024 → Q4 2024
| AMT American Tower Corp. | Reduce -2.5% | 1.62% | −0.43 |
| CCI Crown Castle Inc. | Reduce -2.6% | 0.75% | −0.23 |
| MSFT Microsoft Corp. | Reduce -6.0% | 3.66% | −0.21 |
| LLY Eli Lilly & Co. | Reduce -6.1% | 0.72% | −0.14 |
| UNH Unitedhealth Group Inc. | Reduce -6.2% | 0.54% | −0.11 |
| ED Consolidated Edison Inc. | Reduce -2.4% | 0.59% | −0.10 |
| AMD Advanced Micro Devices | Reduce -6.3% | 0.23% | −0.09 |
| AWK American Water Works Co. Inc. | Reduce -2.6% | 0.46% | −0.08 |
| XOM Exxon Mobil Corp. | Reduce -6.2% | 0.56% | −0.07 |
| SBAC SBA Communications Corp. | Reduce -2.3% | 0.42% | −0.07 |
| JNJ Johnson & Johnson | Reduce -6.3% | 0.41% | −0.07 |
| ES Eversource Energy | Reduce -0.0% | 0.40% | −0.06 |
| MLI Mueller Industries Inc. | Sold out | 0.00% | −0.06 |
| CRS Carpenter Technology | Sold out | 0.00% | −0.06 |
| KO The Coca-Cola Co. | Reduce -6.5% | 0.28% | −0.06 |
| ABBV Abbvie Inc. | Reduce -6.3% | 0.37% | −0.06 |
| CMA Comerica Inc. | Reduce -85.5% | 0.01% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -6.4% | 0.29% | −0.05 |
| TMO Thermo Fisher Scientific Inc. | Reduce -6.4% | 0.23% | −0.05 |
| EXC Exelon Corp. | Reduce -2.1% | 0.72% | −0.05 |
| EIX Edison International | Reduce -2.3% | 0.59% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -6.1% | 0.97% | −0.05 |
| ADBE Adobe Inc. | Reduce -6.2% | 0.23% | −0.05 |
| ELV Elevance Health Inc. | Reduce -6.9% | 0.10% | −0.05 |
| AMGN Amgen Inc. | Reduce -6.2% | 0.16% | −0.05 |
| AMAT Applied Materials Inc. | Reduce -6.4% | 0.16% | −0.05 |
| REGN Regeneron Pharmaceuticals | Reduce -5.5% | 0.09% | −0.05 |
| DHR Danaher Corp. | Reduce -6.6% | 0.17% | −0.05 |
| LIN Linde PLC | Reduce -6.4% | 0.23% | −0.04 |
| UBER Uber Technologies Inc. | Reduce -5.6% | 0.14% | −0.04 |
| PEP Pepsico Inc. | Reduce -6.5% | 0.24% | −0.04 |
| GE General Electric | Reduce -7.5% | 0.21% | −0.04 |
| NEE Nextera Energy Inc. | Reduce -6.7% | 0.17% | −0.04 |
| HD Home Depot Inc. | Reduce -5.9% | 0.45% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -6.7% | 0.20% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -6.2% | 0.46% | −0.03 |
| IWB iShares Russell 1000 ETF | Sold out | 0.00% | −0.03 |
| LMT Lockheed Martin Corp. | Reduce -7.1% | 0.12% | −0.03 |
| MU Micron Technology Inc. | Reduce -7.0% | 0.11% | −0.03 |
| QCOM Qualcomm Inc. | Reduce -6.7% | 0.20% | −0.03 |
| CVS CVS Health Corp. | Reduce -6.7% | 0.07% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -8.0% | 0.17% | −0.03 |
| TXN Texas Instruments Inc. | Reduce -6.6% | 0.20% | −0.03 |
| HCA HCA Healthcare Inc. | Reduce -9.1% | 0.06% | −0.03 |
| CI The Cigna Group | Reduce -7.6% | 0.09% | −0.03 |
| PLD Prologis Inc. | Reduce -6.9% | 0.11% | −0.03 |
| KLAC KLA Corp. | Reduce -6.7% | 0.10% | −0.03 |
| ALC Alcon Inc. | Reduce -3.6% | 0.15% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -6.5% | 0.09% | −0.03 |
| IGF iShares Global Infrastructur | Reduce -45.4% | 0.03% | −0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| ENB Enbridge Inc. | Add +1.2% | 2.62% | +0.21 |
| LRCX Lam Research Corp. | New | 0.11% | +0.11 |
| SHOP Shopify Inc. Class A | Add +3.0% | 0.29% | +0.09 |
| SE Sea Ltd.-ADR | New | 0.05% | +0.05 |
| QRVO Qorvo Inc. | Add +579.4% | 0.06% | +0.04 |
| TRNO Terreno Realty Corp. | New | 0.04% | +0.04 |
| BA The Boeing Co. | Add +14.2% | 0.15% | +0.04 |
| SKY Champion Homes Inc. | New | 0.03% | +0.03 |
| HIMS Hims & Hers Health Inc. | New | 0.03% | +0.03 |
| NI Nisource Inc. | Add +1.6% | 0.33% | +0.03 |
| TRP TC Energy Corp. | Add +1.1% | 1.37% | +0.03 |
| FER Ferrovial NV | Add +3.9% | 0.59% | +0.03 |
| MSTR Strategy Inc. | Add +0.3% | 0.06% | +0.02 |
| MDU Mdu Resources Group Inc. | Add +589.0% | 0.03% | +0.02 |
| ECG Everus Construction Group | Add +589.0% | 0.03% | +0.02 |
| ALK Alaska Air Group Inc. | Add +0.3% | 0.07% | +0.02 |
| AZTA Azenta Inc. | New | 0.02% | +0.02 |
| CRGY Crescent Energy Inc. Class A | New | 0.02% | +0.02 |
| NFE New Fortress Energy Inc. | Add +52.0% | 0.03% | +0.02 |
| SMCI Super Micro Computer Inc. | New | 0.02% | +0.02 |
| AMTM Amentum Holdings Inc. | Add +586.8% | 0.02% | +0.02 |
| PAC Grupo Aeroportuario Pac-ADR | Add +5.8% | 0.20% | +0.02 |
| CRI Carter's Inc. | New | 0.02% | +0.02 |
| ALAB Astera Labs Inc. | New | 0.02% | +0.02 |
| EFA iShares MSCI Eafe ETF | Add +35.8% | 0.07% | +0.01 |
| CM Can Imperial BK of Commerce | Add +3.7% | 0.16% | +0.01 |
| EXE Expand Energy Corp. | Add +67.0% | 0.03% | +0.01 |
| VSH Vishay Intertechnology Inc. | New | 0.01% | +0.01 |
| SMTC Semtech Corp. | Add +12.1% | 0.04% | +0.01 |
| MFC Manulife Financial Corp. | Add +2.5% | 0.14% | +0.01 |
| INSW International Seaways Inc. | New | 0.01% | +0.01 |
| IDCC Interdigital Inc. | Add +0.1% | 0.04% | +0.01 |
| GDYN Grid Dynamics Holdings Inc. | New | 0.01% | +0.01 |
| AESI Atlas Energy Solutions Inc. | New | 0.01% | +0.01 |
| GKOS Glaukos Corp. | Add +0.1% | 0.06% | +0.01 |
| BMO Bank of Montreal | Add +0.5% | 0.09% | +0.01 |
| AEM Agnico Eagle Mines Ltd. | Add +4.8% | 0.19% | +0.01 |
| AJG Arthur J Gallagher & Co. | Add +7.1% | 0.08% | +0.01 |
| MAC The Macerich Co. | Add +13.4% | 0.04% | +0.01 |
| AROC Archrock Inc. | Add +3.4% | 0.03% | +0.01 |
| PENGUIN SOLUTIONS CAYMEN (PENG 2.25 02/15/26) | New | 0.01% | +0.01 |
| ARGX Argenx SE - ADR | Add +1.1% | 0.05% | +0.01 |
| AFRM Affirm Holdings Inc. | Add +6.2% | 0.02% | +0.01 |
| KGC Kinross Gold Corp. | Add +5.8% | 0.10% | +0.01 |
| BNS Bank of Nova Scotia | Add +3.2% | 0.16% | +0.01 |
| SITM Sitime Corp. | Add +0.7% | 0.03% | +0.01 |
| SU Suncor Energy Inc. | Add +4.4% | 0.18% | +0.01 |
| LRN Stride Inc. | Add +0.5% | 0.03% | +0.01 |
| OMAB Grupo Aeroportuario Cen-ADR | Add +5.8% | 0.07% | +0.01 |
| BROS Dutch Bros Inc. Class A | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,423 | $5.8B | NVDA, AAPL, MSFT, ENB, AMZN |
| Q1 2026 | 1,352 | $4.9B | NVDA, AAPL, ENB, MSFT, AMZN |
| Q4 2025 | 1,369 | $4.9B | NVDA, AAPL, MSFT, ENB, AMZN |
| Q3 2025 | 1,368 | $4.8B | NVDA, MSFT, AAPL, ENB, AMZN |
| Q2 2025 | 1,488 | $4.6B | NVDA, MSFT, AAPL, ENB, AMZN |
| Q1 2025 | 1,450 | $4.2B | AAPL, ENB, MSFT, NVDA, AMT |
| Q4 2024 | 1,512 | $4.6B | AAPL, NVDA, MSFT, ENB, AMZN |
| Q3 2024 | 1,521 | $4.8B | AAPL, MSFT, NVDA, ENB, AMZN |
| Q2 2024 | 1,547 | $5.4B | MSFT, AAPL, NVDA, AMZN, ENB |
| Q1 2024 | 1,535 | $5.0B | MSFT, AAPL, NVDA, AMZN, ENB |