Sandy Spring Bank
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Sandy Spring Bank reported 1,210 stock positions worth $2.4 billion. Its top holding was iShares Core S&P Midcap ETF (IJH) at 6.1% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 5.7%) and Apple (AAPL, 4.4%). Compared with Q4 2024, it opened 119 new positions, sold out of 112, added to 280 and reduced 373. The biggest buy was iShares MSCI International Q (IQLT, shares +40%) and the biggest sale Apple (AAPL, shares −2%).
- Most Recent 13F
- Q1 2025
- Location
- Olney, MD
- CIK
- 0001457833
- Portfolio Value
- $2.4B (Q1 2025)
- SEC Filing
- 0001104659-25-047269 ↗ filed May 12, 2025
Holdings Value
Holdings 1,210 stocks · $2.4B
| IJH iShares Core S&P Midcap ETF | 6.09% | 2,482,907 | $144.9M | Add +1.3% |
| IVV iShares Core S&P 500 ETF | 5.70% | 241,147 | $135.5M | Add +1.8% |
| AAPL Apple Inc. | 4.37% | 468,063 | $104.0M | Reduce -2.4% |
| NVDA Nvidia Corp. | 3.26% | 715,491 | $77.5M | Add +0.0% |
| MSFT Microsoft Corp. | 3.17% | 200,569 | $75.3M | Reduce -3.6% |
| IJR iShares Core S&P Small-Cap E | 3.06% | 694,813 | $72.7M | Add +2.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.51% | 106,906 | $59.8M | Reduce -2.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.17% | 96,940 | $51.6M | Add +3.8% |
| AMZN Amazon.com Inc. | 2.09% | 261,665 | $49.8M | Add +0.4% |
| MDY State Street SPDR S&P Midcap | 2.06% | 92,031 | $49.1M | Reduce -1.1% |
| JEPI JPMorgan Equity Premium Inco | 1.85% | 770,714 | $44.0M | Add +4.9% |
| JPM JPMorgan Chase & Co. | 1.64% | 158,527 | $38.9M | Reduce -5.8% |
| IQLT iShares MSCI International Q | 1.53% | 917,606 | $36.4M | Add +39.8% |
| IUSV iShares Core S&P U.S. Value | 1.41% | 362,036 | $33.4M | Reduce -0.5% |
| GOOG Alphabet Inc. Class C | 1.35% | 204,986 | $32.0M | Reduce -1.2% |
| IUSG iShares Core S&P U.S. Growth | 1.24% | 231,521 | $29.4M | Reduce -0.8% |
| VEA Vanguard Ftse Developed ETF | 1.08% | 504,215 | $25.6M | Add +2.8% |
| PANW Palo Alto Networks Inc. | 1.01% | 140,183 | $23.9M | Add +5.0% |
| MA Mastercard Inc. Class A | 1.00% | 43,452 | $23.8M | Reduce -3.4% |
| META Meta Platforms Inc. Class A | 0.99% | 40,928 | $23.6M | Add +0.9% |
| RTX RTX Corp. | 0.92% | 164,327 | $21.8M | Reduce -0.1% |
| WMT Walmart Inc. | 0.90% | 244,697 | $21.5M | Reduce -6.9% |
| DON Wisdomtree US Midcap Dividen | 0.90% | 433,008 | $21.4M | Reduce -17.6% |
| GOOGL Alphabet Inc. Class A | 0.89% | 136,611 | $21.1M | Reduce -2.9% |
| LLY Eli Lilly & Co. | 0.89% | 25,550 | $21.1M | Add +21.6% |
| COST Costco Wholesale Corp. | 0.86% | 21,505 | $20.3M | Add +0.1% |
| MCD McDonald's Corp. | 0.79% | 59,781 | $18.7M | Reduce -6.4% |
| IJK iShares S&P Mid-Cap 400 Grow | 0.78% | 224,095 | $18.7M | Add +33.0% |
| HD Home Depot Inc. | 0.70% | 45,391 | $16.6M | Reduce -6.8% |
| JNJ Johnson & Johnson | 0.68% | 98,084 | $16.3M | Reduce -6.2% |
| VONG Vanguard Russell 1000 Growth | 0.66% | 168,059 | $15.6M | Add +12.0% |
| GS Goldman Sachs Group Inc. | 0.63% | 27,438 | $15.0M | Reduce -0.1% |
| DFAT Dimensional US Target Value | 0.63% | 289,000 | $14.9M | Add +11.8% |
| V Visa Inc. Class A | 0.62% | 42,078 | $14.7M | Reduce -4.2% |
| TMO Thermo Fisher Scientific Inc. | 0.61% | 29,208 | $14.5M | Reduce -1.3% |
| XMHQ Invesco S&P Midcap Qual ETF | 0.60% | 156,172 | $14.3M | Add +122.2% |
| NEE Nextera Energy Inc. | 0.60% | 200,042 | $14.2M | Add +3.5% |
| DHR Danaher Corp. | 0.58% | 67,608 | $13.9M | Reduce -11.4% |
| ABT Abbott Laboratories | 0.58% | 103,788 | $13.8M | Reduce -2.4% |
| BX Blackstone Inc. | 0.58% | 98,029 | $13.7M | Add +1.4% |
| ACN Accenture PLC Class A | 0.57% | 43,079 | $13.4M | Add +0.5% |
| AXP American Express Co. | 0.56% | 49,786 | $13.4M | Reduce -1.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.56% | 108,888 | $13.3M | Add +5.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.55% | 35,338 | $13.1M | Add +7.6% |
| XOM Exxon Mobil Corp. | 0.55% | 108,977 | $13.0M | Add +1.3% |
| LOW Lowe's Cos Inc. | 0.54% | 55,338 | $12.9M | Reduce -1.0% |
| DFUV Dimensional US Marketwide Va | 0.53% | 307,842 | $12.7M | Reduce -6.5% |
| ETN Eaton Corp. PLC | 0.47% | 41,479 | $11.3M | Add +9.6% |
| BLK BlackRock Inc. | 0.47% | 11,789 | $11.2M | Reduce -2.7% |
| JPST JPMorgan Ultra-Short Income | 0.44% | 208,811 | $10.6M | Add +11.1% |
| ZTS Zoetis Inc. | 0.43% | 61,570 | $10.1M | Reduce -11.7% |
| AMT American Tower Corp. | 0.42% | 45,448 | $9.9M | Reduce -7.7% |
| ORCL Oracle Corp. | 0.41% | 70,333 | $9.8M | Reduce -8.9% |
| MAR Marriott International Class A | 0.41% | 41,006 | $9.8M | Reduce -1.5% |
| CRM Salesforce Inc. | 0.40% | 35,491 | $9.5M | Reduce -0.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.40% | 96,475 | $9.5M | Reduce -6.3% |
| SCHW Schwab (charles) Corp. | 0.40% | 120,818 | $9.5M | Reduce -1.1% |
| IYW iShares Ustechnology ETF | 0.39% | 66,512 | $9.3M | Reduce -5.4% |
| PEP Pepsico Inc. | 0.39% | 61,645 | $9.2M | Reduce -1.5% |
| IWB iShares Russell 1000 ETF | 0.39% | 29,906 | $9.2M | Add +0.3% |
| COF Capital One Financial Corp. | 0.38% | 51,038 | $9.2M | Reduce -2.1% |
| VWO Vanguard Ftse Emerging Marke | 0.38% | 199,516 | $9.0M | Add +1.2% |
| SYK Stryker Corp. | 0.37% | 23,352 | $8.7M | Reduce -4.9% |
| NOW ServiceNow Inc. | 0.36% | 10,671 | $8.5M | Add +24.9% |
| WM Waste Management Inc. | 0.35% | 35,960 | $8.3M | Reduce -2.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.35% | 49,701 | $8.3M | Add +2.5% |
| SHEL Shell PLC-ADR | 0.33% | 107,501 | $7.9M | Reduce -8.4% |
| PG The Procter & Gamble Co. | 0.33% | 45,709 | $7.8M | Reduce -16.6% |
| ISRG Intuitive Surgical Inc. | 0.33% | 15,691 | $7.8M | Add +15.1% |
| SHBI Shore Bancshares Inc. | 0.33% | 573,502 | $7.8M | No change |
| SPGI S&P Global Inc. | 0.31% | 14,739 | $7.5M | Add +8.3% |
| LNG Cheniere Energy Inc. | 0.31% | 32,331 | $7.5M | Add +1.8% |
| XLK SS Technology Select Sector | 0.30% | 34,406 | $7.1M | Reduce -1.4% |
| CSCO Cisco Systems Inc. | 0.30% | 113,843 | $7.0M | Reduce -8.4% |
| XLB SS Materials Select Sector | 0.28% | 78,647 | $6.8M | Add +3.9% |
| EFA iShares MSCI Eafe ETF | 0.28% | 82,187 | $6.7M | Reduce -2.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.28% | 91,315 | $6.7M | Add +10.5% |
| ADBE Adobe Inc. | 0.28% | 17,190 | $6.6M | Reduce -21.6% |
| UNH Unitedhealth Group Inc. | 0.28% | 12,517 | $6.6M | Reduce -5.2% |
| DFUS Dimensional US Eq MKT ETF | 0.27% | 104,898 | $6.3M | Add +0.7% |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | 0.25% | 249,431 | $6.0M | Add +4.4% |
| IBDT iShares Ibonds Dec 2028 ETF | 0.25% | 237,771 | $6.0M | Add +4.9% |
| APD Air Products & Chemicals Inc. | 0.25% | 20,356 | $6.0M | Add +1.5% |
| IBDR iShares Ibonds Dec 2026 Term | 0.25% | 245,963 | $6.0M | Add +3.7% |
| MCHP Microchip Technology Inc. | 0.25% | 122,868 | $5.9M | Add +5.0% |
| ABBV Abbvie Inc. | 0.25% | 28,179 | $5.9M | Reduce -20.6% |
| TT Trane Technologies PLC | 0.25% | 17,413 | $5.9M | Add +9.3% |
| HON Honeywell International Inc. | 0.24% | 27,270 | $5.8M | Add +0.1% |
| IBDU iShares Ibonds Dec 2029 Term | 0.24% | 249,015 | $5.8M | Add +4.6% |
| QCOM Qualcomm Inc. | 0.24% | 37,033 | $5.7M | Add +2.0% |
| AVGO Broadcom Inc. | 0.24% | 33,876 | $5.7M | Add +45.4% |
| IBDW iShares Ibonds Dec 2031 Corp. | 0.24% | 271,734 | $5.6M | Add +6.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.24% | 12,003 | $5.6M | Reduce -4.9% |
| TMUS T-Mobile US Inc. | 0.24% | 20,975 | $5.6M | Reduce -0.1% |
| VZ Verizon Communications Inc. | 0.23% | 122,701 | $5.6M | Reduce -1.4% |
| IBDV iShares Ibonds Dec 2030 Corp. | 0.23% | 255,389 | $5.5M | Add +4.3% |
| XLF SS Financial Select Sector | 0.23% | 111,039 | $5.5M | Reduce -1.8% |
| LH Labcorp Holdings Inc. | 0.23% | 23,476 | $5.5M | Reduce -5.1% |
| CVX Chevron Corp. | 0.23% | 32,536 | $5.4M | Reduce -4.4% |
| IBDX iShares Ibonds Dec 2032 TC | 0.23% | 216,387 | $5.4M | Add +6.6% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $14K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 110 | $9K | New |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 105 | $3K | Add +31.3% |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 785 | $2K | No change |
| SOUNW Soundhound AI Inc. | *W EXP 04/26/202 | 150 | $525 | No change |
Lines left out (3) · $97 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| RJF Raymond James Financial Inc. | COM | 0 | $46 |
| COHR Coherent Corp. | COM | 0 | $29 |
| BBY Best Buy Co. Inc. | COM | 0 | $22 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $2.4B.
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -2.4% | 4.37% | −0.49 |
| MSFT Microsoft Corp. | Reduce -3.6% | 3.17% | −0.39 |
| GOOG Alphabet Inc. Class C | Reduce -1.2% | 1.35% | −0.25 |
| GOOGL Alphabet Inc. Class A | Reduce -2.9% | 0.89% | −0.19 |
| DON Wisdomtree US Midcap Dividen | Reduce -17.6% | 0.90% | −0.18 |
| DHR Danaher Corp. | Reduce -11.4% | 0.58% | −0.13 |
| ADBE Adobe Inc. | Reduce -21.6% | 0.28% | −0.12 |
| ORCL Oracle Corp. | Reduce -8.9% | 0.41% | −0.11 |
| CRM Salesforce Inc. | Reduce -0.9% | 0.40% | −0.08 |
| MDY State Street SPDR S&P Midcap | Reduce -1.1% | 2.06% | −0.08 |
| IUSG iShares Core S&P U.S. Growth | Reduce -0.8% | 1.24% | −0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.1% | 2.51% | −0.08 |
| HD Home Depot Inc. | Reduce -6.8% | 0.70% | −0.07 |
| DIS The Walt Disney Co. | Reduce -6.3% | 0.40% | −0.06 |
| IYW iShares Ustechnology ETF | Reduce -5.4% | 0.39% | −0.06 |
| MAR Marriott International Class A | Reduce -1.5% | 0.41% | −0.06 |
| NKE Nike Inc. Class B | Reduce -19.0% | 0.14% | −0.06 |
| WMT Walmart Inc. | Reduce -6.9% | 0.90% | −0.06 |
| STZ Constellation Brands Inc. Class A | Reduce -38.4% | 0.06% | −0.05 |
| AXP American Express Co. | Reduce -1.8% | 0.56% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -16.6% | 0.33% | −0.04 |
| TSLA Tesla Inc. | Reduce -0.1% | 0.08% | −0.04 |
| ELV Elevance Health Inc. | Reduce -32.7% | 0.16% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -29.4% | 0.17% | −0.03 |
| ZTS Zoetis Inc. | Reduce -11.7% | 0.43% | −0.03 |
| BLK BlackRock Inc. | Reduce -2.7% | 0.47% | −0.03 |
| XLK SS Technology Select Sector | Reduce -1.4% | 0.30% | −0.03 |
| PYPL PayPal Holdings Inc. | Reduce -5.3% | 0.09% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -53.8% | 0.03% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -11.1% | 0.14% | −0.03 |
| APH Amphenol Corp. Class A | Reduce -22.8% | 0.09% | −0.03 |
| UPS United Parcel Service Class B | Reduce -45.4% | 0.03% | −0.03 |
| FTV Fortive Corp. | Reduce -30.3% | 0.06% | −0.03 |
| XLY SS Consumer Disc Select Sect | Reduce -2.7% | 0.21% | −0.03 |
| PM Philip Morris International | Reduce -46.8% | 0.07% | −0.03 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -4.9% | 0.24% | −0.02 |
| DEO Diageo PLC-Sponsored ADR | Reduce -41.7% | 0.02% | −0.02 |
| VGT Vanguard Info Tech ETF | Reduce -4.7% | 0.13% | −0.02 |
| BN Brookfield Corp. | Reduce -3.1% | 0.23% | −0.02 |
| TFC Truist Financial Corp. | Reduce -12.0% | 0.13% | −0.02 |
| MO Altria Group Inc. | Reduce -53.5% | 0.02% | −0.02 |
| RVTY Revvity Inc. | Reduce -56.0% | 0.01% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -1.0% | 0.54% | −0.02 |
| ECL Ecolab Inc. | Reduce -60.1% | 0.01% | −0.02 |
| INTC Intel Corp. | Reduce -43.4% | 0.03% | −0.01 |
| KO The Coca-Cola Co. | Reduce -24.1% | 0.13% | −0.01 |
| VLTO Veralto Corp. | Reduce -28.7% | 0.03% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.3% | 0.61% | −0.01 |
| SRE Sempra | Reduce -4.4% | 0.05% | −0.01 |
| FDX FedEx Corp. | Reduce -34.8% | 0.02% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| IQLT iShares MSCI International Q | Add +39.8% | 1.53% | +0.55 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +3.8% | 2.17% | +0.46 |
| XMHQ Invesco S&P Midcap Qual ETF | Add +122.2% | 0.60% | +0.32 |
| LLY Eli Lilly & Co. | Add +21.6% | 0.89% | +0.23 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.20% | +0.20 |
| IJK iShares S&P Mid-Cap 400 Grow | Add +33.0% | 0.78% | +0.16 |
| JEPI JPMorgan Equity Premium Inco | Add +4.9% | 1.85% | +0.14 |
| VEA Vanguard Ftse Developed ETF | Add +2.8% | 1.08% | +0.13 |
| RDVY First Trust Rising Dividend | Add +92.9% | 0.22% | +0.11 |
| XOM Exxon Mobil Corp. | Add +1.3% | 0.55% | +0.08 |
| AZN Astrazeneca PLC-Spons ADR | Add +10.5% | 0.28% | +0.06 |
| JPST JPMorgan Ultra-Short Income | Add +11.1% | 0.44% | +0.06 |
| COST Costco Wholesale Corp. | Add +0.1% | 0.86% | +0.06 |
| AZO AutoZone Inc. | Add +57.3% | 0.12% | +0.06 |
| IVV iShares Core S&P 500 ETF | Add +1.8% | 5.70% | +0.06 |
| DBEF Xtrackers MSCI Eafe Hedged E | Add +82.8% | 0.11% | +0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Add +33.8% | 0.13% | +0.05 |
| TJX TJX Companies Inc. | Add +5.3% | 0.56% | +0.05 |
| IEMG iShares Core MSCI Emerging | Add +34.8% | 0.15% | +0.05 |
| UBER Uber Technologies Inc. | Add +16.8% | 0.14% | +0.05 |
| CBRE CBRE Group Inc. Class A | Add +533.6% | 0.05% | +0.04 |
| DFAT Dimensional US Target Value | Add +11.8% | 0.63% | +0.04 |
| VCIT Vanguard Int-Term Corporate | Add +20.6% | 0.20% | +0.04 |
| SPGI S&P Global Inc. | Add +8.3% | 0.31% | +0.04 |
| IBDZ ISHARESIBONDSDEC2034TMCORP | Add +20.4% | 0.18% | +0.04 |
| ISRG Intuitive Surgical Inc. | Add +15.1% | 0.33% | +0.04 |
| LNG Cheniere Energy Inc. | Add +1.8% | 0.31% | +0.04 |
| NEE Nextera Energy Inc. | Add +3.5% | 0.60% | +0.04 |
| IBDY iShares Ibonds Dec 2033 Corp. | Add +10.8% | 0.21% | +0.03 |
| META Meta Platforms Inc. Class A | Add +0.9% | 0.99% | +0.03 |
| MUNI PIMCO Intermediate Municipal | Add +63.8% | 0.07% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +1.2% | 0.38% | +0.03 |
| VONG Vanguard Russell 1000 Growth | Add +12.0% | 0.66% | +0.03 |
| IBDW iShares Ibonds Dec 2031 Corp. | Add +6.9% | 0.24% | +0.03 |
| CI The Cigna Group | Add +0.4% | 0.14% | +0.03 |
| XLB SS Materials Select Sector | Add +3.9% | 0.28% | +0.03 |
| COP Conocophillips | Add +4.9% | 0.19% | +0.03 |
| ICE Intercontinental Exchange Inc. | Add +6.7% | 0.12% | +0.03 |
| IBDX iShares Ibonds Dec 2032 TC | Add +6.6% | 0.23% | +0.03 |
| WELL Welltower Inc. | Add +2.9% | 0.11% | +0.03 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +4.9% | 0.25% | +0.02 |
| BINC iShares Flex I A ETF-Usd Inc. | New | 0.02% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +5.0% | 1.01% | +0.02 |
| IBDU iShares Ibonds Dec 2029 Term | Add +4.6% | 0.24% | +0.02 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Add +4.4% | 0.25% | +0.02 |
| IBDV iShares Ibonds Dec 2030 Corp. | Add +4.3% | 0.23% | +0.02 |
| DFLV Dim US Large Cap Value ETF | Add +6.7% | 0.19% | +0.02 |
| AVGO Broadcom Inc. | Add +45.4% | 0.24% | +0.02 |
| FDVV Fidelity High Dividend ETF | Add +3020.7% | 0.02% | +0.02 |
| IBDR iShares Ibonds Dec 2026 Term | Add +3.7% | 0.25% | +0.02 |
Notes & Other Activity Q4 2024 → Q1 2025
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | New | 110 | $9K |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Add +31.3% | 105 | $3K |
| VTR Ventas Inc. | COM | Sold out | 0 | $19before exit |
| CORT Corcept Therapeutics Inc. | COM | Sold out | 0 | $18before exit |
| DNLI Denali Therapeutics Inc. | COM | Sold out | 0 | $10before exit |
| OHI Omega Healthcare Investors | COM | Sold out | 0 | $10before exit |
| IONS Ionis Pharmaceuticals Inc. | COM | Sold out | 0 | $9before exit |
| NHI Natl Health Investors Inc. | COM | Sold out | 0 | $9before exit |
| CTRE Caretrust REIT Inc. | COM | Sold out | 0 | $8before exit |
| LTC LTC Properties Inc. | COM | Sold out | 0 | $7before exit |
| PNTG The Pennant Group Inc. | COM | Sold out | 0 | $6before exit |
| NAMS Newamsterdam Pharma Co. NV | ORDINARY SHARES | Sold out | 0 | $6before exit |
| NHC National Healthcare Corp. | COM | Sold out | 0 | $5before exit |
| PRTA Prothena Corp. PLC | SHS | Sold out | 0 | $4before exit |
| VYGR Voyager Therapeutics Inc. | COM | Sold out | 0 | $3before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.