New York State Retirement Fund sells $1M in Strategy shares, retains $30M stake

The New York State Common Retirement Fund quietly offloaded 11,400 shares of MicroStrategy during the second quarter of 2026, a sale worth roughly $1 million. That sounds like a meaningful move until you realize the fund still holds 319,850 shares valued at approximately $30 million, and manages north of $295 billion in total assets. The trim, in context As of March 31, 2026, the NYSCRF held 331,250 shares of MicroStrategy, then worth about $41 million. The fund’s decision to shave roughly 3.4% of that position during Q2 brings the current stake down to 319,850 shares at a value of around $30 million. The fund had actually been building its position throughout late 2025, ramping holdings to approximately $50 million by December of that year. So the trajectory has been up, then gradually down, a classic institutional pattern of building a position and then taking profits along the way. Why MicroStrategy, not Bitcoin itself MicroStrategy, now commonly referred to as Strategy, has been accumulating Bitcoin on its balance sheet since 2020. The company has effectively turned itself into a publicly traded Bitcoin vehicle, which means buying MSTR stock is a way to get Bitcoin exposure thr...