# Sandy Spring Bank

> Institutional holdings reported to the SEC as of Q1 2025 on Form 13F. CIK 1457833. Source: https://holderbook.com/funds/1457833-sandy-spring-bank/

- Reported value: $2.4B
- Positions: 1,217
- Weight of the ten largest: 34.5%
- Filed: 2025-05-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $144.9M | 2,482,907 | 6.1% | 26 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $135.5M | 241,147 | 5.7% | 26 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $104.0M | 468,063 | 4.4% | 26 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $77.5M | 715,491 | 3.3% | 26 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $75.3M | 200,569 | 3.2% | 26 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $72.7M | 694,813 | 3.1% | 26 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $59.8M | 106,906 | 2.5% | 26 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $51.6M | 96,940 | 2.2% | 26 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $49.8M | 261,665 | 2.1% | 26 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $49.1M | 92,031 | 2.1% | 26 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $44.0M | 770,714 | 1.9% | 17 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $38.9M | 158,527 | 1.6% | 26 |
| ISHARES TR | [IQLT](https://holderbook.com/stocks/IQLT/) | $36.4M | 917,606 | 1.5% | 9 |
| ISHARES TR | [IUSV](https://holderbook.com/stocks/IUSV/) | $33.4M | 362,036 | 1.4% | 26 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $32.0M | 204,986 | 1.3% | 26 |
| ISHARES TR | [IUSG](https://holderbook.com/stocks/IUSG/) | $29.4M | 231,521 | 1.2% | 26 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $25.6M | 504,215 | 1.1% | 26 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $23.9M | 140,183 | 1.0% | 26 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $23.8M | 43,452 | 1.0% | 26 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $23.6M | 40,928 | 1.0% | 26 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $21.8M | 164,327 | 0.9% | 20 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $21.5M | 244,697 | 0.9% | 26 |
| WISDOMTREE TR | [DON](https://holderbook.com/stocks/DON/) | $21.4M | 433,008 | 0.9% | 14 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $21.1M | 136,611 | 0.9% | 26 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $21.1M | 25,550 | 0.9% | 26 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $20.3M | 21,505 | 0.9% | 26 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $18.7M | 59,781 | 0.8% | 26 |
| ISHARES TR | [IJK](https://holderbook.com/stocks/IJK/) | $18.7M | 224,095 | 0.8% | 26 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $16.6M | 45,391 | 0.7% | 26 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $16.3M | 98,084 | 0.7% | 26 |
| VANGUARD SCOTTSDALE FDS | [VONG](https://holderbook.com/stocks/VONG/) | $15.6M | 168,059 | 0.7% | 10 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $15.0M | 27,438 | 0.6% | 26 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $14.9M | 289,000 | 0.6% | 12 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $14.7M | 42,078 | 0.6% | 26 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $14.5M | 29,208 | 0.6% | 26 |
| INVESCO EXCHANGE TRADED FD T | [XMHQ](https://holderbook.com/stocks/XMHQ/) | $14.3M | 156,172 | 0.6% | 2 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $14.2M | 200,042 | 0.6% | 26 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $13.9M | 67,608 | 0.6% | 26 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $13.8M | 103,788 | 0.6% | 26 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $13.7M | 98,029 | 0.6% | 23 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $13.4M | 43,079 | 0.6% | 26 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $13.4M | 49,786 | 0.6% | 26 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $13.3M | 108,888 | 0.6% | 26 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $13.1M | 35,338 | 0.6% | 26 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $13.0M | 108,977 | 0.5% | 26 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $12.9M | 55,338 | 0.5% | 26 |
| DIMENSIONAL ETF TRUST | [DFUV](https://holderbook.com/stocks/DFUV/) | $12.7M | 307,842 | 0.5% | 12 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $11.3M | 41,479 | 0.5% | 26 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $11.2M | 11,789 | 0.5% | 2 |
| J P MORGAN EXCHANGE TRADED F | [JPST](https://holderbook.com/stocks/JPST/) | $10.6M | 208,811 | 0.4% | 26 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $10.1M | 61,570 | 0.4% | 26 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $9.9M | 45,448 | 0.4% | 26 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $9.8M | 70,333 | 0.4% | 26 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $9.8M | 41,006 | 0.4% | 26 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $9.5M | 35,491 | 0.4% | 26 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $9.5M | 96,475 | 0.4% | 26 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $9.5M | 120,818 | 0.4% | 26 |
| ISHARES TR | [IYW](https://holderbook.com/stocks/IYW/) | $9.3M | 66,512 | 0.4% | 26 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $9.2M | 61,645 | 0.4% | 26 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $9.2M | 29,906 | 0.4% | 26 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $9.2M | 51,038 | 0.4% | 26 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $9.0M | 199,516 | 0.4% | 26 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $8.7M | 23,352 | 0.4% | 26 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $8.5M | 10,671 | 0.4% | 26 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $8.3M | 35,960 | 0.4% | 26 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $8.3M | 49,701 | 0.3% | 26 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $7.9M | 107,501 | 0.3% | 13 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $7.8M | 45,709 | 0.3% | 26 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $7.8M | 15,691 | 0.3% | 26 |
| SHORE BANCSHARES INC | [SHBI](https://holderbook.com/stocks/SHBI/) | $7.8M | 573,502 | 0.3% | 6 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $7.5M | 14,739 | 0.3% | 26 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $7.5M | 32,331 | 0.3% | 26 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $7.1M | 34,406 | 0.3% | 26 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $7.0M | 113,843 | 0.3% | 26 |
| SELECT SECTOR SPDR TR | [XLB](https://holderbook.com/stocks/XLB/) | $6.8M | 78,647 | 0.3% | 26 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $6.7M | 82,187 | 0.3% | 26 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $6.7M | 91,315 | 0.3% | 26 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $6.6M | 17,190 | 0.3% | 26 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $6.6M | 12,517 | 0.3% | 26 |
| DIMENSIONAL ETF TRUST | [DFUS](https://holderbook.com/stocks/DFUS/) | $6.3M | 104,898 | 0.3% | 12 |
| ISHARES TR | [IBDS](https://holderbook.com/stocks/IBDS/) | $6.0M | 249,431 | 0.3% | 26 |
| ISHARES TR | [IBDT](https://holderbook.com/stocks/IBDT/) | $6.0M | 237,771 | 0.3% | 25 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $6.0M | 20,356 | 0.3% | 26 |
| ISHARES TR | [IBDR](https://holderbook.com/stocks/IBDR/) | $6.0M | 245,963 | 0.3% | 26 |
| MICROCHIP TECHNOLOGY INC. | [MCHP](https://holderbook.com/stocks/MCHP/) | $5.9M | 122,868 | 0.3% | 26 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $5.9M | 28,179 | 0.2% | 26 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $5.9M | 17,413 | 0.2% | 21 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $5.8M | 27,270 | 0.2% | 26 |
| ISHARES TR | [IBDU](https://holderbook.com/stocks/IBDU/) | $5.8M | 249,015 | 0.2% | 22 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $5.7M | 37,033 | 0.2% | 26 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $5.7M | 33,876 | 0.2% | 26 |
| ISHARES TR | [IBDW](https://holderbook.com/stocks/IBDW/) | $5.6M | 271,734 | 0.2% | 14 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $5.6M | 12,003 | 0.2% | 26 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $5.6M | 20,975 | 0.2% | 18 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $5.6M | 122,701 | 0.2% | 26 |
| ISHARES TR | [IBDV](https://holderbook.com/stocks/IBDV/) | $5.5M | 255,389 | 0.2% | 18 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $5.5M | 111,039 | 0.2% | 26 |
| LABCORP HOLDINGS INC | [LH](https://holderbook.com/stocks/LH/) | $5.5M | 23,476 | 0.2% | 4 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $5.4M | 32,536 | 0.2% | 26 |
| ISHARES TR | [IBDX](https://holderbook.com/stocks/IBDX/) | $5.4M | 216,387 | 0.2% | 10 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2025 | -4.4% | -4.6% | +0.2% | 99% |
| Q4 2024 | +0.7% | +2.1% | -1.5% | 99% |
| Q3 2024 | +6.2% | +5.4% | +0.7% | 99% |
| Q2 2024 | +2.1% | +4.0% | -1.9% | 99% |
| Q1 2024 | +8.4% | +10.0% | -1.6% | 99% |
| Q4 2023 | +11.0% | +11.2% | -0.2% | 99% |
| Q3 2023 | -4.2% | -3.6% | -0.6% | 99% |
| Q2 2023 | +6.8% | +8.3% | -1.5% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2025 | $2.4B | 1,217 |
| Q4 2024 | $2.5B | 1,222 |
| Q3 2024 | $2.4B | 1,199 |
| Q2 2024 | $2.3B | 1,274 |
| Q1 2024 | $2.2B | 1,241 |
| Q4 2023 | $2.0B | 1,177 |
| Q3 2023 | $1.8B | 1,184 |
| Q2 2023 | $1.9B | 1,227 |
| Q1 2023 | $1.8B | 1,162 |
| Q4 2022 | $1.7B | 1,145 |
| Q3 2022 | $1.6B | 1,123 |
| Q2 2022 | $1.7B | 1,119 |