NEW YORK STATE COMMON RETIREMENT FUND

NEW YORK STATE COMMON RETIREMENT FUND declares $38.6B in 213 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 48.6% of its $79.3B 13F portfolio. Largest positions: NVIDIA (0.10% of the company) and Apple (0.11% of the company). Over time: $38.6B in 213 of these companies for Q2 2026, against $21.3B in 150 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $915.1M and sold $2.2B of these stocks, at the quarter's prices: a net sale of $1.2B; 10 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio NEW YORK STATE COMMON RETIREMENT FUND declared for Q2 2026 (Form 13F), held unchanged, returned +4.2% in Q3 2026 (SMH -7.1%), ranked 800 of 1,785 active managers. Over the last 12 months, quarter after quarter: +28.6% (SMH +87.2%), ranked 685 of 1,360 active managers. Over three years, quarter after quarter: +149.4% (SMH +325.8%), ranked 351 of 784 active managers. Over five years, quarter after quarter: +162.8% (SMH +389.8%), ranked 242 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. NVIDIA (NVDA): $5.0B, 24.9M shares, 0.10% of the company, 6.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Apple (AAPL): $4.8B, 16.4M shares, 0.11% of the company, 6.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Alphabet (GOOGL): $4.3B, 12.1M shares, 0.10% of the company, 5.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $3.2B, 8.5M shares, 0.11% of the company, 4.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
5. Amazon (AMZN): $2.7B, 11.2M shares, 0.10% of the company, 3.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Broadcom (AVGO): $1.9B, 5.0M shares, 0.10% of the company, 2.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Micron (MU): $1.3B, 1.1M shares, 0.10% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. Meta Platforms (META): $1.3B, 2.3M shares, 0.09% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
9. AMD (AMD): $1.1B, 1.8M shares, 0.11% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
10. Intel (INTC): $664.1M, 4.8M shares, 0.09% of the company, 0.84% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Applied Materials (AMAT): $613.0M, 847,919 shares, 0.11% of the company, 0.77% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. Lam Research (LRCX): $577.1M, 1.3M shares, 0.11% of the company, 0.73% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. Caterpillar (CAT): $562.1M, 527,804 shares, 0.12% of the company, 0.71% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. Cisco (CSCO): $547.3M, 4.7M shares, 0.12% of the company, 0.69% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
15. KLA (KLAC): $448.4M, 1.5M shares, 0.11% of the company, 0.57% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $16.3B, 42% of its AI holdings, 6 companies
• Chips & compute: $10.3B, 27% of its AI holdings, 35 companies
• Power, electrical & cooling: $3.2B, 8% of its AI holdings, 47 companies
• AI software: $2.1B, 6% of its AI holdings, 31 companies
• Equipment & test: $2.1B, 5% of its AI holdings, 28 companies
• Memory & storage: $1.9B, 5% of its AI holdings, 7 companies
• Interconnect: $1.1B, 3% of its AI holdings, 11 companies
• Servers & systems: $746.0M, 2% of its AI holdings, 11 companies
• Optics: $401.5M, 1% of its AI holdings, 13 companies
• Neoclouds & data centers: $370.6M, 1% of its AI holdings, 24 companies

Biggest changes this quarter

• trimmed NVIDIA (NVDA): -$267.8M at the quarter's price
• trimmed Alphabet (GOOGL): -$236.8M at the quarter's price
• trimmed Apple (AAPL): -$184.6M at the quarter's price
• added to Sandisk (SNDK): +$174.9M at the quarter's price
• trimmed Microsoft (MSFT): -$144.5M at the quarter's price
• trimmed Micron (MU): -$135.3M at the quarter's price
• added to Corning (GLW): +$108.3M at the quarter's price
• added to Western Digital (WDC): +$102.3M at the quarter's price
• trimmed Amazon (AMZN): -$94.0M at the quarter's price
• trimmed Broadcom (AVGO): -$76.7M at the quarter's price

Other holders of this size

• FIL Ltd: $38.2B in 127 of these companies
• Robeco Institutional Asset Management B.V.: $38.7B in 120 of these companies
• BAILLIE GIFFORD & CO: $38.1B in 60 of these companies
• Citadel: $39.3B in 213 of these companies
• Aberdeen Group plc: $36.4B in 121 of these companies
• MANUFACTURERS LIFE INSURANCE COMPANY, THE: $40.3B in 209 of these companies
• TD Asset Management Inc: $36.1B in 154 of these companies
• Allianz Asset Management GmbH: $40.7B in 161 of these companies

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