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Public pension funds in Louisiana and New Jersey raise Strategy stakes in Q2 filings

Public pension funds in Louisiana and New Jersey raise Strategy stakes in Q2 filings

Louisiana’s state employees’ system and New Jersey’s police and fire pension both disclosed larger Strategy positions, using the Nasdaq-listed company as indirect Bitcoin exposure through its 843,775 BTC treasury.

BTC

Fact Check
The core claim numbers—21,300 shares, ~$2.13 million, $16.3B AUM, indirect Bitcoin exposure via Strategy (MSTR)—are confirmed by the originating BitcoinTreasuries.NET X post and independently corroborated by SEC 13F-based institutional-ownership databases. Fintel's MSTR page lists LASERS at 21,300 shares, and HoldingsChannel shows a prior 20,600-share position (03/31/2026), consistent with an increase. Multiple news outlets (U.Today, KuCoin) report identical figures. All figures are internally consistent and traceable to regulatory filing data, supporting a high-confidence likely_true assessment.
Summary

Second-quarter regulatory filings showed two U.S. public pension funds increased their Strategy holdings as of June 30, underscoring continued institutional use of the stock as an indirect Bitcoin proxy. The Louisiana State Employees’ Retirement System raised its stake to 21,300 shares from 20,600, while the Police and Firemen’s Retirement System of New Jersey disclosed 49,055 shares worth about $4.66 million in a Form 13F filed July 23. Both positions remain small relative to the size of the respective pension systems, but they extend a broader pattern of public funds gaining crypto-linked exposure through listed equities rather than holding Bitcoin directly. Strategy, the Nasdaq-listed company formerly known for enterprise software and now widely treated as a Bitcoin treasury company, holds 843,775 BTC.

Terms & Concepts
  • indirect Bitcoin exposure: Investment exposure to Bitcoin gained through a related security, such as company stock, rather than owning BTC directly.
  • Form 13F: Quarterly SEC filing that discloses certain institutional equity holdings.
  • Bitcoin treasury company: A company that holds substantial Bitcoin on its balance sheet and uses that treasury as part of its corporate strategy.