The New York State Common Retirement Fund reduced its position in Strategy during the latest reporting period, selling 11,400 shares—roughly 3% of its prior stake—to bring total holdings to 319,850 shares, according to its most recent 13F filing.
Despite the modest sale, the pension fund retains a substantial position in the Bitcoin treasury company. At a recent MSTR price of $93.33, the remaining 319,850 shares are valued at approximately $29.8 million.
The New York State Common Retirement Fund, overseen by State Comptroller Thomas P. DiNapoli, is one of the largest public pension plans in the United States. It manages roughly $295 billion in assets for more than one million state and local government employees, retirees, and beneficiaries. The fund has previously built a meaningful stake in Strategy as a way to gain indirect bitcoin exposure through equity markets.
New York joins a growing list of state retirement systems holding Strategy shares. Other large public pensions, including those in California and Florida, have also established positions in the company, viewing it as a liquid proxy for bitcoin’s long-term upside while remaining within traditional equity allocation frameworks.
The small reduction comes amid continued volatility in Strategy shares, which have tracked bitcoin’s price swings closely. The decision to sell only a limited portion of the position suggests the fund is not exiting its bitcoin-related exposure but rather adjusting sizing within a broader portfolio.
Strategy remains the world’s largest corporate bitcoin holder, with 843,775 BTC on its balance sheet acquired at an average cost of approximately $75,476 per coin. The company’s equity continues to serve as a key vehicle for institutions seeking bitcoin exposure without holding the asset directly.
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