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
