Maryland State Retirement & Pension System

Pension

CIK

1795552

Location

BALTIMORE, MD

Portfolio Value

Mid $4,795,098,066

Diversification

Diversified

Filing Date

Global Rank

#685 / 8,607 ▲ 34 · as of Mar 2026

Top Industry

Oil & Gas Midstream 16.1%

3Y Alpha vs SPY

-3.0%

Period ended 3 months ago

Filed May 4, 2026 · 2mo

22 quarters · since Dec 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+62.6%

SPY

+75.5%

Annualised alpha

-3.0%

Max drawdown

−16.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

1,335 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

4.3%

−0.4 pts

Top 5

16.4%

−1.4 pts

Top 10

24.8%

−1.4 pts

HHI

102

Diversified−8

Portfolio Trend

22 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	20.5%	$984,727,340	201
Energy	20.4%	$976,884,978	79
Financial Services	10.8%	$519,936,940	211
Utilities	10.1%	$485,896,454	56
Industrials	7.9%	$379,135,368	204
Healthcare	7.5%	$357,348,907	149
Consumer Cyclical	6.7%	$323,463,262	166
Communication Services	5.0%	$238,087,114	42
Real Estate	4.2%	$203,424,063	98
Basic Materials	3.4%	$164,533,143	63
Consumer Defensive	3.3%	$160,147,480	65
Unclassified	0.0%	$1,513,017	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ENB	Enbridge Inc	+196,349	2,919,694	$158,072,233
TRP	Tc Energy Corp	+93,054	1,392,122	$87,146,837
RITM	Rithm Capital Corp.	+81,491	105,762	$1,002,623
ADT	ADT Inc.	+73,851	99,303	$652,420
LYFT	Lyft, Inc.	+58,008	78,569	$1,044,967
TTE	TotalEnergies SE	+48,698	326,985	$29,749,095
PBA	Pembina Pipeline Corp	+47,973	712,792	$31,904,569
FTS	Fortis Inc.	+43,774	621,224	$34,658,086
FER	Ferrovial N.V.	+39,694	593,034	$38,576,861
GTM	ZoomInfo Technologies Inc.	+38,954	52,235	$312,365
MTCH	Match Group, Inc.	+34,440	46,628	$1,431,945
UBS	UBS Group AG	+24,132	355,549	$13,891,299
HBAN	Huntington Bancshares Inc /Md/	+20,621	100,669	$1,575,469
LW	Lamb Weston Holdings, Inc.	+20,241	26,882	$1,136,033
SOBO	South Bow Corp	+17,562	255,294	$8,506,396
DCH	Dauch Corp	+17,404	34,646	$205,450
SM	SM Energy Co	+16,135	33,014	$1,029,376
FITB	Fifth Third Bancorp	+12,830	45,404	$2,109,469
BN	BROOKFIELD Corp /ON/	+11,797	249,707	$10,105,642
MFC	Manulife Financial Corp	+11,315	190,135	$6,548,249
RY	Royal Bank Of Canada	+10,080	158,391	$25,624,495
MOH	Molina Healthcare, Inc.	+7,513	10,163	$1,354,727
PIPR	Piper Sandler Companies	+7,422	9,872	$755,701
PAYC	Paycom Software, Inc.	+7,125	9,505	$1,155,237
PANW	Palo Alto Networks Inc	+6,170	39,926	$6,400,936
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ET	Energy Transfer LP	−129,983	2,849,140	$54,988,402
SBS	Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp	−112,838	425,215	$2,594,661
PCG	PG&E Corp	−90,326	2,091,707	$36,751,291
KMI	Kinder Morgan, Inc.	−78,665	1,863,368	$62,478,729
BTG	B2gold Corp	−75,036	609,520	$2,761,125
KGC	Kinross Gold Corp	−62,439	372,270	$11,361,680
EPD	Enterprise Products Partners L.P.	−59,389	1,307,298	$49,468,156
WMB	Williams Companies, Inc.	−49,929	1,162,444	$84,602,674
B	Barrick Mining Corp	−41,456	538,927	$21,982,832
CVE	Cenovus Energy Inc.	−38,078	249,834	$6,628,096
EXC	Exelon Corp	−30,390	973,654	$47,728,519
BIPC	Brookfield Infrastructure Corp	−27,977	107,589	$4,251,917
SRE	Sempra	−25,735	622,014	$60,441,100
OKE	Oneok Inc /New/	−25,730	598,447	$54,093,624
CNP	Centerpoint Energy Inc	−25,682	621,246	$26,812,977
SOLS	Solstice Advanced Materials Inc.	−23,250	7,936	$604,405
SU	Suncor Energy Inc	−20,399	312,991	$20,691,835
PAA	Plains All American Pipeline LP	−19,883	418,862	$9,353,188
AMT	American Tower Corp /Ma/	−18,705	446,060	$76,981,034
CCI	Crown Castle Inc.	−18,007	414,177	$33,676,731
NI	Nisource Inc.	−16,662	455,767	$21,266,088
AM	Antero Midstream Corp	−16,087	313,421	$7,145,998
ES	Eversource Energy	−15,557	356,635	$24,707,672
MPLX	Mplx LP	−15,415	339,111	$19,353,064
EIX	Edison International	−15,394	366,061	$26,788,343
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AZN	Astrazeneca PLC	169,590	$33,446,539
SUNB	Sunbelt Rentals Holdings, Inc.	47,235	$3,074,526
AGX	Argan Inc	2,025	$1,102,916
VSNT	Versant Media Group, Inc.	28,416	$1,051,960
LYB	LyondellBasell Industries N.V.	12,772	$1,028,912
AMCR	Amcor plc	22,120	$879,270
APLS	Apellis Pharmaceuticals, Inc.	20,816	$837,427
VSEC	Vse Corp	4,196	$773,742
MDLN	Medline Inc.	16,437	$731,446
LAUR	Laureate Education, Inc.	19,525	$680,251
PNFP	Pinnacle Financial Partners, Inc.	7,489	$645,102
LTH	Life Time Group Holdings, Inc.	22,138	$596,397
RNG	RingCentral, Inc.	15,705	$584,068
INDV	Indivior Pharmaceuticals, Inc.	18,269	$556,839
CRCL	Circle Internet Group, Inc.	5,663	$540,306
LIF	Life360, Inc.	11,443	$467,103
SPHR	Sphere Entertainment Co.	3,867	$453,985
UCTT	Ultra Clean Holdings, Inc.	6,632	$412,377
QGEN	Qiagen N.V.	9,645	$386,185
KMPR	KEMPER Corp	11,413	$348,781
RYN	Rayonier Inc	15,055	$310,434
AMRX	Amneal Pharmaceuticals, Inc.	24,965	$310,314
COCO	Vita Coco Company, Inc.	6,422	$307,678
SARO	StandardAero, Inc.	11,746	$303,399
AVT	Avnet Inc	4,153	$255,907
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
ARWR	Arrowhead Pharmaceuticals, Inc.	20,241	$1,343,799
IDCC	InterDigital, Inc.	3,769	$1,199,974
CTRE	CareTrust REIT, Inc.	32,860	$1,188,217
AEIS	Advanced Energy Industries Inc	5,530	$1,157,816
SITM	SITIME Corp	3,209	$1,133,386
FLEX	Flex Ltd.	18,526	$1,119,340
TTMI	Ttm Technologies Inc	15,117	$1,043,073
MOG-A	Moog Inc.	4,158	$1,012,680
EXAS	EXACT SCIENCES CORP	9,626	$977,616
NVT	nVent Electric plc	7,720	$787,208
TGNA	TEGNA INC	23,466	$455,475
VICR	Vicor Corp	3,323	$364,200
DUOL	Duolingo, Inc.	1,827	$320,638
CPB	CAMPBELL'S Co	10,963	$305,538
DOCS	Doximity, Inc.	6,541	$289,635
QDEL	QuidelOrtho Corp	9,896	$282,629
PRGS	Progress Software Corp /Ma	6,269	$269,316
GSHD	Goosehead Insurance, Inc.	3,651	$268,896
HLNE	Hamilton Lane INC	1,942	$260,830
BILL	BILL Holdings, Inc.	4,711	$256,937
OLED	Universal Display Corp \Pa\	2,180	$254,580
PEGA	Pegasystems Inc	4,226	$252,376
GTLB	Gitlab Inc.	6,700	$251,451
RYAN	Ryan Specialty Holdings, Inc.	4,782	$246,894
APPF	Appfolio Inc	1,059	$246,376
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1,335 positions · $4,795,098,066 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 1,335 positions by value · page 1 of 27

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	1,175,902	+4,952	$205,077,308	−6.1%	4.28%
AAPL	Apple Inc. Technology	Reduced	723,806	-5,697	$183,694,724	−7.4%	3.83%
ENB	Enbridge Inc Energy	Added	2,919,694	+196,349	$158,072,233	+21.4%	3.30%
MSFT	Microsoft Corp Technology	Added	372,592	+1,376	$137,922,380	−23.2%	2.88%
AMZN	Amazon Com Inc Consumer Cyclical	Added	481,953	+1,984	$100,376,351	−9.4%	2.09%
TRP	Tc Energy Corp Energy	Added	1,392,122	+93,054	$87,146,837	+21.9%	1.82%
WMB	Williams Companies, Inc. Energy	Reduced	1,162,444	-49,929	$84,602,674	+16.1%	1.76%
GOOGL	Alphabet Inc. Communication Services	Added	291,969	+1,048	$83,958,605	−7.8%	1.75%
AMT	American Tower Corp /Ma/ Real Estate	Reduced	446,060	-18,705	$76,981,034	−5.7%	1.61%
AVGO	Broadcom Inc. Technology	Added	231,947	+909	$71,789,915	−10.2%	1.50%
META	Meta Platforms, Inc. Communication Services	Added	109,650	+418	$62,734,054	−13.0%	1.31%
KMI	Kinder Morgan, Inc. Energy	Reduced	1,863,368	-78,665	$62,478,729	+17.0%	1.30%
SRE	Sempra Utilities	Reduced	622,014	-25,735	$60,441,100	+5.7%	1.26%
LNG	Cheniere Energy, Inc. Energy	Reduced	204,795	-9,022	$58,112,629	+39.8%	1.21%
ET	Energy Transfer LP Energy	Reduced	2,849,140	-129,983	$54,988,402	+11.9%	1.15%
OKE	Oneok Inc /New/ Energy	Reduced	598,447	-25,730	$54,093,624	+17.9%	1.13%
TSLA	Tesla, Inc. Consumer Cyclical	Added	141,690	+553	$52,673,257	−17.0%	1.10%
TRGP	Targa Resources Corp. Energy	Reduced	204,295	-8,626	$51,222,885	+30.4%	1.07%
EPD	Enterprise Products Partners L.P. Energy	Reduced	1,307,298	-59,389	$49,468,156	+12.9%	1.03%
EXC	Exelon Corp Utilities	Reduced	973,654	-30,390	$47,728,519	+9.1%	1.00%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	92,781	+565	$44,460,655	−4.1%	0.93%
JPM	Jpmorgan Chase & Co Financial Services	Added	136,675	+629	$40,204,318	−8.3%	0.84%
ED	Consolidated Edison Inc Utilities	Reduced	343,781	-14,775	$38,909,133	+9.3%	0.81%
FER	Ferrovial N.V. Industrials	Added	593,034	+39,694	$38,576,861	+7.9%	0.80%
LLY	ELI LILLY & Co Healthcare	Added	40,211	+132	$36,984,871	−14.1%	0.77%
PCG	PG&E Corp Utilities	Reduced	2,091,707	-90,326	$36,751,291	+4.8%	0.77%
XOM	ExxonMobil Holdings Corp Energy	Added	212,591	+999	$36,068,189	+41.6%	0.75%
FTS	Fortis Inc. Utilities	Added	621,224	+43,774	$34,658,086	+15.6%	0.72%
CCI	Crown Castle Inc. Real Estate	Reduced	414,177	-18,007	$33,676,731	−12.3%	0.70%
AZN	Astrazeneca PLC Healthcare	NEW	169,590	NEW	$33,446,539	NEW	0.70%
PBA	Pembina Pipeline Corp Energy	Added	712,792	+47,973	$31,904,569	+26.1%	0.67%
TTE	TotalEnergies SE Energy	Added	326,985	+48,698	$29,749,095	+63.4%	0.62%
JNJ	Johnson & Johnson Healthcare	Added	121,124	+900	$29,607,550	+19.0%	0.62%
ATO	Atmos Energy Corp Utilities	Reduced	157,038	-2,189	$29,008,059	+8.7%	0.60%
WMT	Walmart Inc. Consumer Defensive	Added	218,346	+373	$27,136,040	+11.7%	0.57%
CNP	Centerpoint Energy Inc Utilities	Reduced	621,246	-25,682	$26,812,977	+8.1%	0.56%
EIX	Edison International Utilities	Reduced	366,061	-15,394	$26,788,343	+17.0%	0.56%
RY	Royal Bank Of Canada Financial Services	Added	158,391	+10,080	$25,624,495	+1.3%	0.53%
V	Visa Inc. Financial Services	Added	84,743	+500	$25,612,724	−13.3%	0.53%
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	125,320	-7,393	$25,437,453	+13.1%	0.53%
AWK	American Water Works Company, Inc. Utilities	Reduced	185,826	-7,656	$25,289,060	+0.2%	0.53%
ES	Eversource Energy Utilities	Reduced	356,635	-15,557	$24,707,672	−1.4%	0.52%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	22,351	+120	$22,271,206	+16.2%	0.46%
TD	Toronto Dominion Bank Financial Services	Added	237,776	+3,475	$22,186,878	+0.5%	0.46%
B	Barrick Mining Corp Basic Materials	Reduced	538,927	-41,456	$21,982,832	−13.0%	0.46%
SHOP	Shopify Inc. Technology	Added	180,494	+2,140	$21,410,198	−25.4%	0.45%
NI	Nisource Inc. Utilities	Reduced	455,767	-16,662	$21,266,088	+7.8%	0.44%
SU	Suncor Energy Inc Energy	Reduced	312,991	-20,399	$20,691,835	+39.9%	0.43%
NFLX	Netflix Inc Communication Services	Added	212,922	+492	$20,472,450	+2.8%	0.43%
MA	Mastercard Inc Financial Services	Added	40,517	+267	$20,244,724	−11.9%	0.42%