Institution

Maryland State Retirement & Pension System

13F for the quarter to June 30, 2026, filed July 30, 2026 · SEC CIK 1795552

Reported value: $5.8bn
Positions we cover: 1,375
Copy, a year: +11.6%
Copy Sharpe ratio: 0.56

How copying its 13F would have done

CopyS&P 500 $10,000 copying Maryland State Retirement & Pension System's filed holdings in companies we cover from May 14, 2021, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −24.4% (S&P 500 −23.9%); beta 0.91; alpha −0.6% a year (t = −0.34); last 12 months +16.2% against +12.1%.

Reported value by quarter

Maryland State Retirement & Pension System: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2021-03-31	$2.9B
2021-06-30	$3.1B
2021-09-30	$3.5B
2021-12-31	$3.8B
2022-03-31	$3.7B
2022-06-30	$3.1B
2022-09-30	$1.2B
2022-12-31	$3.4T
2023-03-31	$4.5B
2023-06-30	$4.7B
2023-09-30	$4.4B
2023-12-31	$4.9B
2024-03-31	$5B
2024-06-30	$5.4B
2024-09-30	$4.8B
2024-12-31	$4.6B
2025-03-31	$4.2B
2025-06-30	$4.6B
2025-09-30	$4.8B
2025-12-31	$4.9B
2026-03-31	$4.9B
2026-06-30	$5.8B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
NVDANVIDIA Corporation	4.30%	$250.9m	1.25M	+6.6% Added
AAPLApple Inc.	3.85%	$224.9m	777.1K	+7.4% Added
MSFTMicrosoft Corporation	2.55%	$149.0m	399.4K	+7.2% Added
ENBEnbridge Inc	2.42%	$141.3m	2.61M	−10.7% Reduced
AMZNAmazon	2.13%	$124.3m	521.5K	+8.2% Added
GOOGLAlphabet Inc. (Class A)	1.92%	$112.0m	313.3K	+7.3% Added
AVGOBroadcom	1.62%	$94.5m	250.1K	+7.8% Added
WMBWilliams Companies	1.56%	$91.0m	1.22M	+5.3% Added
TRPTC Energy Corp	1.41%	$82.3m	1.24M	−10.6% Reduced
AMTAmerican Tower	1.31%	$76.3m	466.6K	+4.6% Added
MUMicron Technology	1.20%	$70.0m	60.6K	+8.2% Added
METAMeta Platforms	1.14%	$66.6m	118.2K	+7.8% Added
TSLATesla, Inc.	1.13%	$66.1m	157.1K	+10.9% Added
KMIKinder Morgan	1.07%	$62.7m	1.96M	+5.2% Added
SRESempra	1.04%	$60.7m	654.7K	+5.3% Added
TRGPTarga Resources	0.99%	$57.5m	214.6K	+5.0% Added
OKEOneok	0.94%	$54.9m	631.2K	+5.5% Added
LLYLilly (Eli)	0.88%	$51.5m	42.9K	+6.8% Added
AMDAdvanced Micro Devices	0.87%	$50.7m	87.3K	+8.2% Added
EPDEnterprise Products Partners L.p.	0.86%	$50.5m	1.37M	+5.0% Added
LNGCheniere Energy, Inc.	0.86%	$50.2m	210.0K	+2.5% Added
EXCExelon	0.82%	$47.7m	1.02M	+5.1% Added
JPMJPMorgan Chase	0.81%	$47.1m	143.9K	+5.3% Added
MPCMarathon Petroleum	0.71%	$41.3m	161.5K	+956.1% Added
EDConsolidated Edison	0.70%	$40.9m	369.4K	+7.4% Added
VLOValero Energy	0.70%	$40.6m	156.0K	+920.6% Added
FERFerrovial N.V.	0.69%	$40.5m	591.1K	−0.3%
PSXPhillips 66	0.64%	$37.6m	222.1K	+1002.3% Added
PCGPG&E Corporation	0.64%	$37.1m	2.21M	+5.5% Added
FTSFortis Inc.	0.61%	$35.6m	621.3K	0.0%
RYRoyal Bank Of Canada	0.57%	$33.1m	160.1K	+1.1% Added
CCICrown Castle	0.57%	$33.1m	437.0K	+5.5% Added
INTCIntel	0.56%	$33.0m	236.1K	+6.7% Added
JNJJohnson & Johnson	0.56%	$32.9m	129.7K	+7.1% Added
AZNAstrazeneca PLC	0.55%	$32.1m	171.8K	+1.3% Added
AMATApplied Materials	0.53%	$30.9m	42.7K	+6.7% Added
VVisa Inc.	0.52%	$30.5m	88.9K	+4.9% Added
TDToronto Dominion Bank	0.50%	$29.3m	241.0K	+1.4% Added
LRCXLam Research	0.50%	$29.2m	67.3K	+6.6% Added
PBAPembina Pipeline Corp	0.50%	$29.1m	628.6K	−11.8% Reduced
CNPCenterPoint Energy	0.49%	$28.8m	654.1K	+5.3% Added
ATOAtmos Energy	0.49%	$28.8m	167.1K	+6.4% Added
EIXEdison International	0.49%	$28.7m	385.1K	+5.2% Added
UBSUBS Group AG	0.49%	$28.4m	572.5K	+61.0% Added
ESEversource Energy	0.47%	$27.3m	377.2K	+5.8% Added
WMTWalmart	0.46%	$26.8m	236.4K	+8.3% Added
CATCaterpillar Inc.	0.45%	$26.1m	24.5K	+5.3% Added
AWKAmerican Water Works	0.44%	$25.7m	195.5K	+5.2% Added
SHOPShopify Inc.	0.43%	$25.3m	221.8K	+22.9% Added
CSCOCisco	0.43%	$25.0m	212.8K	+6.4% Added
ABBVAbbVie	0.41%	$24.0m	95.4K	+7.1% Added
NINiSource	0.39%	$22.8m	479.3K	+5.2% Added
COSTCostco	0.38%	$22.4m	23.9K	+7.0% Added
MAMastercard	0.38%	$22.4m	43.5K	+7.4% Added
KLACKLA Corporation	0.36%	$21.3m	70.5K	+968.8% Added
GEGE Aerospace	0.36%	$20.8m	55.7K	+6.8% Added
BACBank of America	0.35%	$20.3m	356.4K	+7.8% Added
UNHUnitedHealth Group	0.35%	$20.2m	48.7K	+6.5% Added
MPLXMplx LP	0.34%	$20.0m	355.4K	+4.8% Added
CNQCanadian Natural Resources Ltd	0.34%	$19.7m	498.0K	+48.9% Added
BMOBank Of Montreal	0.33%	$19.1m	108.2K	+35.1% Added
HDThe Home Depot	0.33%	$19.0m	53.8K	+7.7% Added
SBACSBA Communications	0.32%	$18.7m	105.8K	+4.3% Added
BNSBank Of Nova Scotia	0.32%	$18.6m	214.8K	+5.0% Added
PGProcter & Gamble	0.32%	$18.4m	125.7K	+6.7% Added
SNDKSandisk	0.31%	$17.8m	7.8K	+9.3% Added
MRKMerck & Co.	0.29%	$17.1m	133.4K	+7.1% Added
GEVGE Vernova	0.29%	$17.0m	14.5K	+7.1% Added
CMCanadian Imperial Bank Of Commerce	0.29%	$17.0m	148.2K	−4.1% Reduced
KOThe Coca-Cola Company	0.29%	$17.0m	209.5K	+7.3% Added
SBSCompanhia DE Saneamento Basico DO Estado DE SAO Paulo-sabesp	0.28%	$16.7m	2.88M	+577.5% Added
CVXChevron Corporation	0.28%	$16.6m	100.0K	+6.0% Added
NFLXNetflix	0.28%	$16.2m	226.2K	+6.2% Added
GSGoldman Sachs	0.27%	$15.7m	15.6K	+5.4% Added
PMPhilip Morris International	0.26%	$15.2m	84.1K	+7.5% Added
DTMDT Midstream, Inc.	0.26%	$14.9m	101.8K	+5.5% Added
PANWPalo Alto Networks	0.25%	$14.8m	43.3K	+8.3% Added
TXNTexas Instruments	0.25%	$14.6m	49.1K	+7.7% Added
IBMIBM	0.24%	$14.3m	50.8K	+8.8% Added
PLTRPalantir Technologies Inc.	0.24%	$14.0m	119.8K	+9.3% Added
MRVLMarvell Technology	0.24%	$13.9m	46.8K	+10.9% Added
RTXRTX Corporation	0.24%	$13.8m	72.8K	+7.9% Added
WFCWells Fargo	0.23%	$13.7m	165.3K	+6.1% Added
ORCLOracle Corporation	0.23%	$13.6m	92.5K	+9.5% Added
BBarrick Mining Corp	0.23%	$13.3m	362.8K	−32.7% Reduced
LINLinde plc	0.22%	$12.9m	24.9K	+5.0% Added
CCitigroup	0.22%	$12.9m	91.9K	+5.4% Added
MSMorgan Stanley	0.22%	$12.6m	60.5K	+6.0% Added
WDCWestern Digital	0.20%	$11.7m	18.3K	+7.0% Added
APHAmphenol	0.20%	$11.6m	65.6K	+6.9% Added
SUSuncor Energy Inc	0.20%	$11.5m	213.7K	−31.7% Reduced
GLWCorning Inc.	0.19%	$10.9m	42.7K	+9.7% Added
WTRGEssential Utilities, Inc.	0.19%	$10.9m	284.0K	+6.0% Added
AMGNAmgen	0.18%	$10.6m	29.2K	+7.8% Added
QCOMQualcomm	0.18%	$10.5m	57.0K	+5.8% Added
MCDMcDonald's	0.18%	$10.4m	38.4K	+6.8% Added
ADIAnalog Devices	0.18%	$10.4m	26.1K	+6.3% Added
CRWDCrowdStrike	0.18%	$10.3m	13.5K	+9.3% Added
PEPPepsiCo	0.17%	$10.0m	73.7K	+6.6% Added
TMOThermo Fisher Scientific	0.17%	$10.0m	19.9K	+5.1% Added
SLFSUN Life Financial Inc	0.17%	$9.9m	126.7K	+102.4% Added
NEENextEra Energy	0.17%	$9.9m	112.8K	+7.5% Added
PAAPlains ALL American Pipeline LP	0.17%	$9.8m	441.2K	+5.3% Added
AXPAmerican Express	0.17%	$9.6m	28.4K	+5.0% Added
ANETArista Networks	0.16%	$9.6m	56.5K	+9.0% Added
VZVerizon	0.16%	$9.6m	226.3K	+6.2% Added
ALCAlcon Inc	0.16%	$9.5m	141.0K	+37.1% Added
WESWestern Midstream Partners, LP	0.16%	$9.5m	216.3K	−0.7% Reduced
DISThe Walt Disney Company	0.16%	$9.1m	94.9K	+5.9% Added
TJXTJX Companies	0.15%	$9.0m	59.2K	+5.3% Added
ETNEaton Corporation	0.15%	$8.9m	20.8K	+5.0% Added
BABoeing	0.15%	$8.8m	40.7K	+6.5% Added
AEMAgnico Eagle Mines LTD	0.15%	$8.8m	56.6K	−54.8% Reduced
CPCanadian Pacific Kansas City LTD	0.15%	$8.7m	100.8K	−0.8% Reduced
UNPUnion Pacific Corporation	0.15%	$8.6m	31.8K	+5.5% Added
WELLWelltower	0.15%	$8.6m	37.8K	+8.9% Added
GILDGilead Sciences	0.14%	$8.5m	67.2K	+7.3% Added
ABTAbbott Laboratories	0.14%	$8.4m	92.8K	+6.1% Added
DEDeere & Company	0.14%	$8.4m	13.2K	+7.8% Added
SCHWCharles Schwab Corporation	0.14%	$8.1m	87.3K	+3.5% Added
SOBOSouth Bow Corp	0.14%	$7.9m	224.8K	−11.9% Reduced
BLKBlackRock	0.14%	$7.9m	8.2K	+6.2% Added
MFCManulife Financial Corp	0.13%	$7.7m	189.3K	−0.4%
TAT&T	0.13%	$7.6m	366.6K	+5.6% Added
ISRGIntuitive Surgical	0.13%	$7.6m	19.1K	+7.9% Added
UBERUber	0.13%	$7.6m	104.8K	+3.7% Added
BKNGBooking Holdings	0.13%	$7.5m	41.9K	+2451.8% Added
PFEPfizer	0.13%	$7.3m	304.4K	+6.8% Added
NTRNutrien Ltd.	0.12%	$7.2m	114.8K	−4.5% Reduced
CVSCVS Health	0.12%	$7.1m	68.6K	+8.5% Added
DELLDell Technologies	0.12%	$7.0m	16.3K	+2.2% Added
VRTVertiv	0.12%	$6.8m	20.4K	+7.0% Added
PGRProgressive Corporation	0.12%	$6.8m	31.2K	+6.8% Added
COPConocoPhillips	0.12%	$6.8m	65.4K	+5.7% Added
PLDPrologis	0.12%	$6.8m	50.0K	+6.9% Added
VRTXVertex Pharmaceuticals	0.12%	$6.8m	13.6K	+6.1% Added
CRMSalesforce	0.12%	$6.7m	43.1K	−6.3% Reduced
COFCapital One	0.12%	$6.7m	33.4K	+8.4% Added
LOWLowe's	0.11%	$6.6m	30.1K	+6.5% Added
PHParker Hannifin	0.11%	$6.6m	6.8K	+7.1% Added
APPApplovin Corp	0.11%	$6.6m	12.8K	+7.5% Added
ARGXArgenx SE	0.11%	$6.5m	7.0K	+1.1% Added
SPGIS&P Global	0.11%	$6.5m	15.9K	+4.2% Added
DHRDanaher Corporation	0.11%	$6.5m	33.9K	+7.2% Added
MOAltria	0.11%	$6.4m	89.5K	+6.1% Added
BMYBristol Myers Squibb	0.11%	$6.4m	110.7K	+8.6% Added
SBUXStarbucks	0.11%	$6.2m	61.0K	+7.6% Added
SYKStryker Corporation	0.10%	$5.8m	18.6K	+6.8% Added
TTTrane Technologies	0.10%	$5.8m	11.9K	+6.7% Added
PWRQuanta Services	0.10%	$5.8m	8.0K	+7.2% Added

Company	Bought (value)	Shares
MPCMarathon Petroleum	$37.4m	146.2K
VLOValero Energy	$36.6m	140.7K
PSXPhillips 66	$34.1m	202.0K
KLACKLA Corporation	$19.3m	63.9K
NVDANVIDIA Corporation	$15.6m	78.0K
AAPLApple Inc.	$15.4m	53.3K
SBSCompanhia DE Saneamento Basico DO Estado DE SAO Paulo-sabesp	$14.2m	2.46M
UBSUBS Group AG	$10.8m	217.0K
MSFTMicrosoft Corporation	$10.0m	26.8K
AMZNAmazon	$9.4m	39.6K
GOOGLAlphabet Inc. (Class A)	$7.6m	21.3K
BKNGBooking Holdings	$7.2m	40.3K
AVGOBroadcom	$6.9m	18.2K
TSLATesla, Inc.	$6.5m	15.4K
CNQCanadian Natural Resources Ltd	$6.5m	163.5K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
ENBEnbridge Inc	−$16.8m	−311.0K
AEMAgnico Eagle Mines LTD	−$10.7m	−68.7K
TRPTC Energy Corp	−$9.8m	−147.7K
BBarrick Mining Corp	−$6.5m	−176.1K
SUSuncor Energy Inc	−$5.3m	−99.3K
PBAPembina Pipeline Corp	−$3.9m	−84.2K
IMOImperial OIL LTD	−$2.9m	−25.6K
SESea Ltd	−$2.8m	−33.2K
CVECenovus Energy Inc.	−$2.2m	−89.6K
WFGWest Fraser Timber Co., LTD	−$1.9m	−28.7K
SUNBSunbelt Rentals Holdings, Inc.	−$1.8m	−24.7K
SMTCSemtech Corp	−$1.4m	−8.4K
SANMSanmina Corp	−$1.3m	−5.1K
DOCNDigitalocean Holdings, Inc.	−$1.1m	−7.2K
SOBOSouth Bow Corp	−$1.1m	−30.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
SESea Ltd	$2.8m	33.2K
WFGWest Fraser Timber Co., LTD	$1.9m	28.7K
INSPInspire Medical Systems, Inc.	$263,883	5.1K
EFOREverforth Inc	$238,376	6.2K
EXLSExlservice Holdings, Inc.	$234,191	7.7K
LOPEGrand Canyon Education, Inc.	$229,711	1.4K
WLKWestlake Corp	$223,710	1.9K
AORTArtivion, Inc.	$222,283	6.1K
BKEBuckle Inc	$221,030	4.4K
YELPYelp Inc	$213,061	8.6K
MORNMorningstar, Inc.	$210,805	1.2K
NSSCNapco Security Technologies, Inc	$207,782	5.3K
OLNOlin Corp	$202,788	6.8K
SLVMSylvamo Corp	$202,583	4.8K
ARIApollo Commercial Real Estate Finance, Inc.	$200,133	19.0K
PKPark Hotels & Resorts Inc.	$124,907	11.9K
CTKBCytek Biosciences, Inc.	$68,417	15.7K
CLVTClarivate PLC	$58,989	23.3K
GOGOGogo Inc.	$43,135	10.7K

Technology25.7%
Energy16.9%
Financials10.7%
Utilities9.4%
Industrials8.5%
Health Care7.6%
Consumer Discretionary6.9%
Communication Services4.7%
Real Estate3.9%
Consumer Staples3.2%
Materials2.5%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestMay 14, 2021 to November 2, 2026	+11.6%	+13.0%	0.56	0.62	−24.4%	0.91
Last three yearsNovember 3, 2023 to November 2, 2026	+20.9%	+21.8%	1.30	1.16	−14.4%	0.78
Last yearNovember 7, 2025 to November 2, 2026	+17.2%	+14.2%	1.43	0.84	−5.7%	0.57

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.