New York State Comptroller Tom. DiNapoli announced this week that the state’s pension fund reached an estimated value of $291.4 billion at the end of the second quarter for the 2025–26 fiscal year.
The New York State Common Retirement Fund posted a 4.13% return for the quarter ending September 30, and a 9.82% return for the first six months of the fiscal year.
“Despite ongoing domestic and global volatility, financial markets have performed well over the past quarter, benefitting the state pension fund,” DiNapoli said. He also cautioned that signs of a slowing labor market, persistent inflation, and uncertain federal policy point to potential turbulence ahead.
Still, DiNapoli credited the fund’s diversification strategy, long-term focus, and effective management as key to ensuring secure retirement benefits for New York’s public workers, regardless of future market swings.
How the fund is invested
As of the end of September, the fund’s investments were allocated as follows:
- 41.7% in publicly traded equities
- 21.5% in cash, bonds, and mortgages
- 14.1% in private equity
- 14.1% in real estate and real assets
- 8.6% in credit, absolute return strategies, and other alternative assets
The fund’s long-term expected rate of return remains at 5.9%.
The most recent audited value of the fund was $273.1 billion as of March 31, 2025, the end of the previous fiscal year.
DiNapoli began publishing quarterly performance reports for the pension fund in 2009 as part of broader efforts to improve transparency and public accountability.
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