MS
Maryland State Retirement & Pension System — 13F Portfolio Changes & Top Buys (Q2 2026)
Maryland State Retirement & Pension SystemCIK: 0001795552
Diversified strategyMomentum follower
Total reported value
$5.8B
Reporting period: 2026-06-30 · Number of holdings: 1423
Maryland State Retirement & Pension System disclosed 1423 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $5.8B and a quarterly turnover rate of 23.8%.
Browse other institutions with $1B to $10B AUMBrowse other institutions starting with "M"
Personality snowflake
- Concentration
- 3.75
- Portfolio Stability
- 23.79
- Momentum
- 100
- Sector conviction
- 41.79
- Diversification
- 100
- Sizing Uniformity
- 64.84
Maryland State Retirement & Pension System's disclosed holdings carry a Herfindahl concentration index of 0.009 — mathematically equivalent to about 107 equally-sized positions, well below its 1423 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.52), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MU
+8.2% $51.0M
Trim ENB
-10.7% -$16.9M
Add MPC
+956.1% $37.5M
Add VLO
+920.6% $36.8M
Add PSX
+1002.3% $33.9M
Add AMD
+8.2% $34.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 1423 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 4.30% | +0.13% | +6.63% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 3.85% | +0.12% | +7.37% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 2.55% | -0.25% | +7.19% | |
| 4 | ENB | Enbridge Inc | Stock-Energy | 2.42% | -0.80% | -10.65% | |
| 5 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.13% | +0.09% | +8.21% | |
| 6 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.92% | +0.21% | +7.30% | |
| 7 | AVGO | Broadcom Inc | Stock-Tech | 1.62% | +0.16% | +7.84% | |
| 8 | WMB | Williams Cos Inc | Stock-Energy | 1.56% | -0.16% | +5.33% | |
| 9 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.55% | +0.16% | +7.56% | |
| 10 | TRP | Tc Energy CORP | Stock-Energy | 1.41% | -0.36% | -10.61% | |
| 11 | AMT | American Tower CORP | Stock-Real Estate | 1.31% | -0.25% | +4.60% | |
| 12 | MU | Micron Technology Inc | Stock-Tech | 1.20% | +0.82% | +8.17% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.14% | -0.14% | +7.82% | |
| 14 | TSLA | Tesla Inc | Stock-Consumer Disc | 1.13% | +0.06% | +10.89% | |
| 15 | KMI | Kinder Morgan, Inc. | Stock-Energy | 1.07% | -0.20% | +5.19% | |
| 16 | SRE | Sempra | Stock-Utilities | 1.04% | -0.19% | +5.25% | |
| 17 | TRGP | Targa Resources CORP | Stock-Energy | 0.99% | -0.05% | +5.04% | |
| 18 | ET | Energy Transfer LP | Stock-Energy | 0.98% | -0.14% | +5.27% | |
| 19 | OKE | Oneok Inc | Stock-Energy | 0.94% | -0.16% | +5.47% | |
| 20 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.88% | +0.13% | +6.81% | |
| 21 | AMD | Advanced Micro Devices | Stock-Tech | 0.87% | +0.54% | +8.16% | |
| 22 | EPD | Enterprise Products Partners | Stock-Energy | 0.87% | -0.15% | +5.04% | |
| 23 | LNG | Cheniere Energy Inc | Stock-Energy | 0.86% | -0.32% | +2.53% | |
| 24 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.86% | -0.04% | +7.98% | |
| 25 | EXC | Exelon CORP | Stock-Utilities | 0.82% | -0.15% | +5.10% | |
| 26 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.81% | -0.01% | +5.25% | |
| 27 | MPC | Marathon Petroleum CORP | Stock-Energy | 0.71% | +0.63% | +956.13% | |
| 28 | ED | Consolidated Edison Inc | Stock-Utilities | 0.70% | -0.09% | +7.44% | |
| 29 | VLO | Valero Energy CORP | Stock-Energy | 0.70% | +0.62% | +920.65% | |
| 30 | ✓ | Ferrovial Se | Stock-Other | 0.69% | -0.08% | -0.33% | |
| 31 | PSX | Phillips 66 | Stock-Energy | 0.64% | +0.57% | +1002.32% | |
| 32 | PCG | P G & E CORP | Stock-Utilities | 0.64% | -0.11% | +5.53% | |
| 33 | FTS | Fortis Inc | Stock-Utilities | 0.61% | -0.09% | +0.02% | |
| 34 | RY | Royal Bank Of Canada | Stock-Financials | 0.57% | +0.05% | +1.09% | |
| 35 | CCI | Crown Castle Inc | Stock-Real Estate | 0.57% | -0.11% | +5.50% | |
| 36 | INTC | Intel CORP | Stock-Tech | 0.56% | +0.36% | +6.66% | |
| 37 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.56% | -0.04% | +7.08% | |
| 38 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.55% | -0.12% | +1.33% | |
| 39 | AMAT | Applied Materials Inc | Stock-Tech | 0.53% | +0.25% | +6.73% | |
| 40 | XOM | Exxon Mobil CORP | Stock-Energy | 0.52% | -0.21% | +5.39% | |
| 41 | V | Visa Inc-class A Shares | Stock-Financials | 0.52% | — | +4.90% | |
| 42 | TD | Toronto-dominion Bank | Stock-Financials | 0.50% | +0.05% | +1.37% | |
| 43 | LRCX | Lam Research CORP | Stock-Tech | 0.50% | +0.23% | +6.65% | |
| 44 | PBA | Pembina Pipeline CORP | Stock-Energy | 0.50% | -0.15% | -11.81% | |
| 45 | CNP | Centerpoint Energy Inc | Stock-Utilities | 0.49% | -0.06% | +5.29% | |
| 46 | ATO | Atmos Energy CORP | Stock-Utilities | 0.49% | -0.10% | +6.43% | |
| 47 | EIX | Edison International | Stock-Utilities | 0.49% | -0.05% | +5.21% | |
| 48 | UBS | UBS Group AG | Stock-Financials | 0.49% | +0.21% | +61.02% | |
| 49 | ES | Eversource Energy | Stock-Utilities | 0.47% | -0.03% | +5.77% | |
| 50 | WMT | Walmart Inc | Stock-Consumer Staples | 0.46% | -0.09% | +8.25% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+2.7%
Performance Last 4 Quarters
+20.8%
- Stdev
- +11.5%
- Beta
- +0.82
- Alpha
- +1.5%
- Max Drawdown
- -7.4%
- Annualized Perf
- +18.8%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +3.28
- Stutzer
- +0.46
- Treynor
- +0.22
- Sterling
- +1.25
- Calmar
- +2.54
- Information Ratio
- -0.41
- Tracking Error
- +4.9%
- Stdev Down
- +5.5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +32.4%
- Worst 12 Months
- +9%
- Efficiency Ratio
- +0.63
- Sharpe
- +1.57
- Stdev Sectors
- +6.6%
- Skewness
- +0.03
- Kurtosis
- -0.2
- Upside Potential
- +4.89
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 1423 | $5.8B | 24 | ||
| 2026 Q1 | 1352 | $4.9B | 16 | ||
| 2025 Q4 | 1369 | $4.9B | 10 | ||
| 2025 Q3 | 1368 | $4.8B | 28 | ||
| 2025 Q2 | 1488 | $4.6B | 0 | ||
| 2025 Q1 | 1450 | $4.2B | 100 | ||
| 2024 Q4 | 1512 | $4.6B | 0 | ||
| 2024 Q3 | 1521 | $4.8B | 0 | ||
| 2024 Q2 | 1547 | $5.4B | 0 | ||
| 2024 Q1 | 1535 | $5.0B | 0 | ||
| 2023 Q4 | 1550 | $4.9B | 0 | ||
| 2023 Q3 | 1533 | $4.4B | 0 | ||
| 2023 Q2 | 1564 | $4.7B | 0 | ||
| 2023 Q1 | 1516 | $4.5B | 0 | ||
| 2022 Q4 | 1510 | $3.4B | 0 | ||
| 2022 Q3 | 519 | $1.2B | 0 | ||
| 2022 Q2 | 1492 | $3.1B | 0 | ||
| 2022 Q1 | 1496 | $3.7B | 0 | ||
| 2021 Q4 | 1507 | $3.8B | 0 | ||
| 2021 Q3 | 1511 | $3.5B | 0 | ||
| 2021 Q2 | 929 | $3.1B | 100 | ||
| 2021 Q1 | 970 | $2.9B | 100 | ||
| 2020 Q4 | 475 | $524.5M | — |
Holding changes this quarter
Maryland State Retirement & Pension System's most significant position changes for 2026-06-30: Sold out: Honeywell International Inc (HON); New buy: ; New buy: Bloom Energy Corp- A (BE); New buy: ; New buy: .
Showing top 200 changes by size (of 1461 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +0.8% | +8.17% | Add |
| 2 | MPC | Marathon Petroleum CORP | +0.6% | +956.13% | Add |
| 3 | VLO | Valero Energy CORP | +0.6% | +920.65% | Add |
| 4 | PSX | Phillips 66 | +0.6% | +1002.32% | Add |
| 5 | AMD | Advanced Micro Devices | +0.5% | +8.16% | Add |
| 6 | INTC | Intel CORP | +0.4% | +6.66% | Add |
| 7 | AMAT | Applied Materials Inc | +0.3% | +6.73% | Add |
| 8 | LRCX | Lam Research CORP | +0.2% | +6.65% | Add |
| 9 | SNDK | Sandisk CORP | +0.2% | +9.31% | Add |
| 10 | GOOGL | Alphabet Inc-cl A | +0.2% | +7.30% | Add |
| 11 | UBS | UBS Group AG | +0.2% | +61.02% | Add |
| 12 | EFA | Ishares Msci Eafe ETF | +0.2% | +141.67% | Add |
| 13 | AVGO | Broadcom Inc | +0.2% | +7.84% | Add |
| 14 | GOOG | Alphabet Inc-cl C | +0.2% | +7.56% | Add |
| 15 | KLAC | Kla CORP | +0.2% | +968.77% | Add |
| 16 | MRVL | Marvell Technology Inc | +0.2% | +10.91% | Add |
| 17 | NVDA | Nvidia CORP | +0.1% | +6.63% | Add |
| 18 | LLY | Eli Lilly & Co | +0.1% | +6.81% | Add |
| 19 | AAPL | Apple Inc | +0.1% | +7.37% | Add |
| 20 | CAT | Caterpillar Inc | +0.1% | +5.31% | Add |
| 21 | PANW | Palo Alto Networks Inc | +0.1% | +8.34% | Add |
| 22 | CSCO | Cisco Systems Inc | +0.1% | +6.44% | Add |
| 23 | BMO | Bank Of Montreal | +0.1% | +35.12% | Add |
| 24 | WDC | Western Digital CORP | +0.1% | +7.00% | Add |
| 25 | UNH | Unitedhealth Group Inc | +0.1% | +6.50% | Add |
| 26 | AMZN | Amazon.com Inc | +0.1% | +8.21% | Add |
| 27 | SLF | Sun Life Financial Inc | +0.1% | +102.38% | Add |
| 28 | GLW | Corning Inc | +0.1% | +9.68% | Add |
| 29 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +9.26% | Add |
| 30 | ✓ | +0.1% | NEW | New buy | |
| 31 | BE | Bloom Energy Corp- A | +0.1% | NEW | New buy |
| 32 | TXN | Texas Instruments Inc | +0.1% | +7.67% | Add |
| 33 | DELL | Dell Technologies -c | +0.1% | +2.20% | Add |
| 34 | ✓ | +0.1% | NEW | New buy | |
| 35 | TSLA | Tesla Inc | +0.1% | +10.89% | Add |
| 36 | GE | General Electric | +0.1% | +6.78% | Add |
| 37 | ✓ | +0.1% | NEW | New buy | |
| 38 | IAG | Iamgold CORP | +0.1% | NEW | New buy |
| 39 | ALAB | Astera Labs Inc | +0.1% | +32.74% | Add |
| 40 | DSGX | Descartes Systems Grp/the | +0.1% | NEW | New buy |
| 41 | RY | Royal Bank Of Canada | +0.1% | +1.09% | Add |
| 42 | TD | Toronto-dominion Bank | +0.1% | +1.37% | Add |
| 43 | GEV | GE Vernova Inc | +0.1% | +7.07% | Add |
| 44 | FLEX | Flex Ltd. | +0.1% | NEW | New buy |
| 45 | HBM | Hudbay Minerals Inc | +0.1% | NEW | New buy |
| 46 | APH | Amphenol Corp-cl A | 0% | +6.94% | Add |
| 47 | QCOM | Qualcomm Inc | 0% | +5.75% | Add |
| 48 | PAC | Grupo Aeroportuario Pac-adr | 0% | +35.61% | Add |
| 49 | IWB | Ishares Russell 1000 ETF | 0% | +30.73% | Add |
| 50 | BEPC | Brookfield Renewable CORP | 0% | +1218.06% | Add |
1–50 of 200
Filing History
FAQ
What is Maryland State Retirement & Pension System and what type of investor is it?
Maryland State Retirement & Pension System is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $5.8B, spread across 1423 disclosed positions.
What are Maryland State Retirement & Pension System's largest equity positions?
Based on the latest 13F filing, Maryland State Retirement & Pension System's top holdings by market value are:
1. Nvidia CORP (NVDA) — $250.9M (4.3%)
2. Apple Inc (AAPL) — $224.9M (3.9%)
3. Microsoft CORP (MSFT) — $149.0M (2.5%)
4. Enbridge Inc (ENB) — $141.3M (2.4%)
5. Amazon.com Inc (AMZN) — $124.3M (2.1%)
What changes did Maryland State Retirement & Pension System make in its most recent portfolio filing?
In the latest reported quarter, Maryland State Retirement & Pension System made 199 notable position adjustments: 21 new positions were initiated, 153 existing holdings were added to, 16 positions were partially reduced, and 9 were completely exited. The largest of these moves: Sold out: Honeywell International Inc (HON); New buy: ; New buy: Bloom Energy Corp- A (BE); New buy: ; New buy:
What sectors does Maryland State Retirement & Pension System focus on?
Maryland State Retirement & Pension System is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 25.5%
• Energy: 18.2%
• Financials: 10.3%
• Utilities: 9.1%
• Health Care: 7.3%
• Industrials: 7.2%
Investment Profile
Maryland State Retirement & Pension System returned an annualized 18.8% over the trailing 36 months — outperforming the S&P 500 by 1.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.82 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 24 over the past 4 quarters — a shift toward more active trading.
It has added to its MU position over the past two quarters (+$54.0M, now $70.0M), while trimming B over the same stretch (-$12.0M, still holding $13.3M).
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Developer Access
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REST API
curl https://alphasmo.com/api/v1/institutions/maryland-state-retirement-pension-systemCLI
npx alphasmo institutions get maryland-state-retirement-pension-system