The New York State Common Retirement Fund was valued at $283.9 billion at the end of the first quarter of State Fiscal Year 2025-26, according to an announcement from New York State Comptroller Thomas P. DiNapoli. The Fund saw an estimated investment return of 5.46% for the three-month period ending June 30.
“Financial markets have seen turbulence in the past few months, but returns for the Fund have been positive, even amid concerns over tariffs and a slowing job market,” DiNapoli said. “Thanks to our diverse portfolio and a long-term approach, the Fund is solidly positioned to continue to provide the retirement benefits our state and local government employees have earned.”
The audited value of the Fund stood at $273.1 billion as of March 31, 2025, marking the end of the previous fiscal year.
By June 30, publicly traded equities made up 41.2% of the Fund’s assets. Other investments included cash, bonds, and mortgages (21.9%), private equity (14.4%), real estate and real assets (14.0%), as well as credit, absolute return strategies and opportunistic alternatives (8.5%).
The Fund maintains a long-term expected rate of return at 5.9%.
Quarterly performance reporting was started by DiNapoli in 2009 to improve accountability and transparency for the Fund’s operations. These quarterly rates provide updates on short-term performance while reflecting only part of annual results.
The New York State Common Retirement Fund remains one of the largest public pension funds in the country, managing assets on behalf of more than one million members including state and local government employees, retirees, and beneficiaries.
