MICROSTRATEGY INC MSTR
CL A NEW · Common Stock · CUSIP 594972408 · ISIN US5949724083
American technology company
- SectorFinancials
- IndustryFinance Services
- HeadquartersTysons Corner, VA
- Founded1989
- Websitemicrostrategy.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($54.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $403.53. Options: 102 managers hold calls ($30.7bn notional), 75 hold puts ($32.1bn).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 233 |
| Q4 2022 | 213 |
| Q1 2023 | 252 |
| Q2 2023 | 272 |
| Q3 2023 | 296 |
| Q4 2023 | 371 |
| Q1 2024 | 532 |
| Q2 2024 | 595 |
| Q3 2024 | 662 |
| Q4 2024 | 991 |
| Q1 2025 | 1,013 |
| Q2 2025 | 1,161 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 161 | 96 |
| Q4 2023 | 236 | 75 |
| Q1 2024 | 362 | 174 |
| Q2 2024 | 356 | 218 |
| Q3 2024 | 650 | 66 |
| Q4 2024 | 677 | 251 |
| Q1 2025 | 643 | 333 |
| Q2 2025 | 736 | 342 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $8.3bn | $12.4bn | 1.50 |
| Q4 2024 | $23.2bn | $31.6bn | 1.36 |
| Q1 2025 | $19.3bn | $19.7bn | 1.02 |
| Q2 2025 | $30.7bn | $32.1bn | 1.05 |
Biggest buyers
| CLEAR STREET LLC | New | +6.0m |
| JPMORGAN CHASE & CO | Added | +2.0m |
| MORGAN STANLEY | Added | +1.5m |
| FMR LLC | Added | +1.5m |
| Amundi | Added | +1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +1.3m |
| Weiss Asset Management LP | Added | +992.7k |
| BANK OF MONTREAL /CAN/ | Added | +734.2k |
| STATE STREET CORP | Added | +495.3k |
| Hudson Bay Capital Management LP | Added | +470.4k |
Biggest sellers
| Clear Street Derivatives LLC | Sold out | -5.3m |
| VANGUARD GROUP INC | Reduced | -2.0m |
| CITADEL ADVISORS LLC | Reduced | -1.5m |
| Capula Management Ltd | Reduced | -1.3m |
| UBS Group AG | Reduced | -646.5k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -614.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -605.0k |
| CANTOR FITZGERALD, L. P. | Reduced | -238.5k |
| Jump Financial, LLC | Reduced | -234.4k |
| BlackRock, Inc. | Reduced | -229.1k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $4.8bn11.9m shares |
| JANE STREET GROUP, LLC | Added | $4.6bn11.4m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.3bn10.6m shares |
| IMC-Chicago, LLC | Reduced | $3.6bn8.9m shares |
| CTC LLC | Added | $3.4bn8.3m shares |
| WOLVERINE TRADING, LLC | Added | $2.2bn5.7m shares |
| Belvedere Trading LLC | Added | $1.1bn2.7m shares |
| GROUP ONE TRADING LLC | Reduced | $1.1bn2.7m shares |
| PEAK6 LLC | Added | $1.1bn2.7m shares |
| SIMPLEX TRADING, LLC | Reduced | $1.0bn2.5m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.5bn11.1m shares |
| JANE STREET GROUP, LLC | Added | $4.2bn10.3m shares |
| CITADEL ADVISORS LLC | Reduced | $3.7bn9.1m shares |
| CTC LLC | Added | $3.6bn8.9m shares |
| Graham Capital Management, L.P. | Reduced | $1.7bn4.2m shares |
| Belvedere Trading LLC | Added | $1.7bn4.2m shares |
| Weiss Asset Management LP | Added | $1.4bn3.5m shares |
| Marex Group Ltd | New | $1.3bn3.3m shares |
| PEAK6 LLC | Added | $1.3bn3.2m shares |
| LMR Partners LLP | Added | $1.2bn3.1m shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Capital International Investors 13G · institution +2.3 pts · filed 2026-05-14 | 10.1% |
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 5.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.3% |
Fell to 5% or below in the last year: JANE STREET GROUP, LLC (4.0%, 2026-05-11), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), SUSQUEHANNA SECURITIES, LLC (4.8%, 2025-11-13)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 1 | $1.3m | — |
| Q4 2023 | 0 | — | 5 | $14.6m | — |
| Q1 2024 | 0 | — | 8 | $348.7m | $275.7m |
| Q2 2024 | 0 | — | 5 | $136.5m | $135.1m |
| Q3 2024 | 0 | — | 3 | $23.6m | — |
| Q4 2024 | 0 | — | 6 | $61.1m | $7.3m |
| Q1 2025 | 3 | $680.0k | 5 | $7.7m | $2.6m |
| Q2 2025 | 4 | $2.3m | 6 | $40.4m | $5.8m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-06 | Le Phong President & CEO, director | Sold plan | $2.0m5.3k shares |
| 2025-06-06 | Kang Andrew EVP & CFO | Sold plan | $703.0k1.9k shares |
| 2025-06-06 | Shao Wei-Ming EVP & General Counsel | Sold plan | $637.1k1.7k shares |
| 2025-06-06 | Montgomery Jeanine VP & CAO | Sold plan | $127.0k339 shares |
| 2025-06-05 | Patten Jarrod M Director · Series A Perpetual Stride Preferred Stock | Bought | $425.0k5.0k shares |
| 2025-06-05 | Le Phong President & CEO, director · Series A Perpetual Stride Preferred Stock | Bought plan | $382.5k4.5k shares |
| 2025-06-05 | Shao Wei-Ming EVP & General Counsel · Series A Perpetual Stride Preferred Stock | Bought plan | $299.8k3.5k shares |
| 2025-06-05 | Kang Andrew EVP & CFO · Series A Perpetual Stride Preferred Stock | Bought plan | $191.2k2.2k shares |
| 2025-06-05 | Montgomery Jeanine VP & CAO | Sold plan | $3711 share |
| 2025-06-03 | RICKERTSEN CARL J Director | Sold | $371.5k980 shares |
| 2025-06-02 | RICKERTSEN CARL J Director | Sold | $9.8m26.4k shares |
| 2025-05-30 | Patten Jarrod M Director | Sold | $2.6m7.2k shares |
| 2025-05-29 | Patten Jarrod M Director | Sold | $886.5k2.4k shares |
| 2025-05-27 | Patten Jarrod M Director · Series A Perpetual Strife Preferred Stock | Bought | $1.0m10.0k shares |
| 2025-05-27 | Patten Jarrod M Director | Sold | $241.3k650 shares |
| 2025-05-22 | Patten Jarrod M Director | Sold | $297.5k700 shares |
| 2025-05-21 | Patten Jarrod M Director | Sold | $294.0k700 shares |
| 2025-05-20 | Kang Andrew EVP & CFO | Sold plan | $2.3m5.6k shares |
| 2025-05-20 | Patten Jarrod M Director | Sold | $496.9k1.2k shares |
| 2025-05-16 | Patten Jarrod M Director | Sold | $301.1k750 shares |
| 2025-05-14 | Shao Wei-Ming EVP & General Counsel | Sold | $3.2m7.5k shares |
| 2025-05-14 | Patten Jarrod M Director | Sold | $297.5k700 shares |
| 2025-05-13 | Patten Jarrod M Director | Sold | $497.4k1.2k shares |
| 2025-05-12 | Shao Wei-Ming EVP & General Counsel | Sold | $4.2m10.0k shares |
| 2025-05-09 | Patten Jarrod M Director | Sold | $469.7k1.1k shares |
| 2025-05-08 | Patten Jarrod M Director | Sold | $1.3m3.2k shares |
| 2025-05-07 | Patten Jarrod M Director | Sold | $434.5k1.1k shares |
| 2025-05-05 | Patten Jarrod M Director | Sold | $461.9k1.2k shares |
| 2025-04-25 | Patten Jarrod M Director | Sold | $1.1m3.1k shares |
| 2025-04-23 | Patten Jarrod M Director | Sold | $390.5k1.1k shares |
The latest 30 of 33 trades.
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.12% of their portfolio | 18.5m $7.5bn | Reduced -2.0m |
| Capital International Investors 1.02% of their portfolio | 14.6m $5.9bn | Reduced -48.7k |
| BlackRock, Inc. 0.11% of their portfolio | 14.2m $5.7bn | Reduced -229.1k |
| MORGAN STANLEY 0.24% of their portfolio | 9.2m $3.7bn | Added +1.5m |
| CLEAR STREET LLC 14.24% of their portfolio | 6.0m $2.4bn | New |
| STATE STREET CORP 0.08% of their portfolio | 5.5m $2.2bn | Added +495.3k |
| CANTOR FITZGERALD, L. P. 43.83% of their portfolio | 4.4m $1.8bn | Reduced -238.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.10% of their portfolio | 3.5m $1.4bn | Reduced -614.2k |
| JPMORGAN CHASE & CO 0.09% of their portfolio | 3.1m $1.3bn | Added +2.0m |
| Capital Research Global Investors 0.25% of their portfolio | 3.1m $1.3bn | Added +406.2k |
| NORGES BANK 0.15% of their portfolio | 3.0m $1.2bn | Added +319.9k |
| Weiss Asset Management LP 14.12% of their portfolio | 2.2m $892.9m | Added +992.7k |
| FMR LLC 0.05% of their portfolio | 2.1m $833.7m | Added +1.5m |
| Marex Group Ltd 14.45% of their portfolio | 1.9m $759.9m | Added +203.3k |
| Amundi 0.25% of their portfolio | 1.8m $717.7m | Added +1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.07% of their portfolio | 1.6m $646.8m | Added +1.3m |
| UBS Group AG 0.13% of their portfolio | 1.5m $620.4m | Reduced -646.5k |
| NORTHERN TRUST CORP 0.08% of their portfolio | 1.5m $601.5m | Added +95.4k |
| Invesco Ltd. 0.10% of their portfolio | 1.4m $565.2m | Added +171.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.11% of their portfolio | 1.3m $540.1m | Added +290.5k |
| Hudson Bay Capital Management LP 3.17% of their portfolio | 1.2m $481.6m | Added +470.4k |
| Legal & General Group Plc 0.12% of their portfolio | 1.2m $472.3m | Added +187.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.07% of their portfolio | 1.1m $431.3m | Added +56.6k |
| Capital World Investors 0.06% of their portfolio | 1.1m $426.2m | Added +401.6k |
| Belvedere Trading LLC 29.91% of their portfolio | 939.2k $379.6m | Added +42.4k |
| BANK OF MONTREAL /CAN/ 0.19% of their portfolio | 920.4k $372.0m | Added +734.2k |
| Bank of New York Mellon Corp 0.07% of their portfolio | 908.4k $367.2m | Reduced -3.3k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 791.9k $320.1m | Added +459.3k |
| Swiss National Bank 0.18% of their portfolio | 749.3k $302.9m | Added +109.5k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 725.9k $293.4m | Added +323.4k |
| WELLS FARGO & COMPANY/MN 0.06% of their portfolio | 721.8k $291.8m | Added +354.6k |
| NATIXIS 1.44% of their portfolio | 715.6k $289.3m | Added +441.8k |
| Harvest Portfolios Group Inc. 6.66% of their portfolio | 708.0k $286.2m | Added +456.7k |
| DEUTSCHE BANK AG\ 0.10% of their portfolio | 658.7k $266.3m | Added +140.7k |
| LPL Financial LLC 0.09% of their portfolio | 651.2k $263.2m | Added +26.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.15% of their portfolio | 588.5k $237.9m | Added +59.7k |
| NATIONAL BANK OF CANADA /FI/ 0.25% of their portfolio | 567.9k $229.6m | Reduced -176.7k |
| National Pension Service 0.18% of their portfolio | 507.1k $205.0m | Added +217.4k |
| BARCLAYS PLC 0.08% of their portfolio | 501.5k $202.7m | Added +50.0k |
| Altshuler Shaham Ltd 0.02% of their portfolio | 500.0k $588.4k | Unchanged |
| Nuveen, LLC 0.05% of their portfolio | 455.3k $184.1m | Reduced -90.6k |
| MIRAE ASSET SECURITIES (USA) INC. 7.78% of their portfolio | 436.1k $176.3m | Added +84.8k |
| CTC LLC 10.90% of their portfolio | 422.5k $170.8m | New |
| Tidal Investments LLC 1.11% of their portfolio | 419.8k $169.7m | Reduced -61.1k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.63% of their portfolio | 419.7k $169.7m | Added +402.5k |
| California Public Employees Retirement System 0.11% of their portfolio | 410.6k $166.0m | Added +53.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.17% of their portfolio | 387.9k $156.8m | Added +51.0k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 377.3k $152.5m | Added +214.4k |
| FIRST TRUST ADVISORS LP 0.11% of their portfolio | 348.7k $141.0m | Reduced -126.7k |
| ProShare Advisors LLC 0.28% of their portfolio | 346.5k $140.1m | Added +35.7k |
| HSBC HOLDINGS PLC 0.08% of their portfolio | 308.6k $124.6m | Added +60.7k |
| SG Americas Securities, LLC 0.51% of their portfolio | 290.3k $117.3m | Reduced -18.4k |
| CITIGROUP INC 0.08% of their portfolio | 282.3k $114.1m | Added +22.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.15% of their portfolio | 281.4k $113.8m | Added +165.5k |
| RHUMBLINE ADVISERS 0.09% of their portfolio | 270.1k $109.2m | Added +1.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 264.6k $26.5m | Added +243.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.08% of their portfolio | 255.0k $103.1m | Added +100.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.15% of their portfolio | 246.7k $99.7m | Reduced -605.0k |
| STIFEL FINANCIAL CORP 0.10% of their portfolio | 245.5k $99.2m | Reduced -567 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.17% of their portfolio | 240.0k $97.0m | Added +18.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.08% of their portfolio | 233.0k $94.2m | Added +31.9k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.11% of their portfolio | 207.3k $83.8m | Reduced -31.1k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.09% of their portfolio | 204.6k $82.7m | Added +134.0k |
| AVIVA PLC 0.15% of their portfolio | 185.1k $74.8m | Added +55.7k |
| OSSIAM 0.84% of their portfolio | 184.4k $74.5m | Added +79.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio | 184.3k $74.5m | Added +7.9k |
| STOREBRAND ASSET MANAGEMENT AS 0.19% of their portfolio | 163.4k $66.1m | Added +24.7k |
| Walleye Trading LLC 1.59% of their portfolio | 160.9k $65.0m | Added +97.7k |
| BLKBRD Asset Management, LP 36.29% of their portfolio | 159.3k $64.4m | Added +60.3k |
| JANE STREET GROUP, LLC 0.10% of their portfolio | 159.2k $64.3m | Added +134.8k |
| GROUP ONE TRADING LLC 2.08% of their portfolio | 157.3k $63.6m | Added +11.3k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.12% of their portfolio | 155.4k $62.8m | Reduced -4.2k |
| Corient Private Wealth LP 0.08% of their portfolio | 148.1k $59.8m | Added +71.1k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.70% of their portfolio | 145.5k $58.8m | Reduced -16.0k |
| VAN ECK ASSOCIATES CORP 0.06% of their portfolio | 140.0k $56.6m | Added +11.6k |
| Rockefeller Capital Management L.P. 0.07% of their portfolio | 138.5k $56.0m | Added +69.7k |
| Korea Investment CORP 0.12% of their portfolio | 137.2k $55.5m | Added +41.3k |
| Jain Global LLC 0.85% of their portfolio | 134.9k $54.5m | New |
| Strong Tower Advisory Services 10.69% of their portfolio | 134.1k $54.2m | Reduced -1.4k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.13% of their portfolio | 132.2k $53.4m | Added +4.7k |
| Treasurer of the State of North Carolina 0.17% of their portfolio | 129.3k $52.3m | Added +21.4k |
| Mariner, LLC 0.07% of their portfolio | 127.0k $51.3m | Added +41.4k |
| Robeco Institutional Asset Management B.V. 0.08% of their portfolio | 125.7k $50.8m | Added +54.1k |
| Aspiring Ventures, LLC 22.62% of their portfolio | 124.6k $50.4m | Added +7.8k |
| Cetera Investment Advisers 0.08% of their portfolio | 124.6k $50.4m | Added +7.0k |
| HRT FINANCIAL LP 0.27% of their portfolio | 124.6k $50.3m | New |
| KBC Group NV 0.12% of their portfolio | 114.4k $46.2m | Added +19.4k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.10% of their portfolio | 113.5k $45.9m | Added +3.4k |
| DANSKE BANK A/S 0.11% of their portfolio | 110.4k $44.6m | Reduced -4.2k |
| Foundations Investment Advisors, LLC 0.70% of their portfolio | 109.8k $44.4m | Added +2.7k |
| OSAIC HOLDINGS, INC. 0.08% of their portfolio | 109.1k $44.1m | Reduced -9.7k |
| TD Asset Management Inc 0.04% of their portfolio | 108.0k $43.7m | Added +19.6k |
| Mitsubishi UFJ Trust & Banking Corp 0.10% of their portfolio | 106.8k $43.2m | Added +5.6k |
| Jump Financial, LLC 0.51% of their portfolio | 103.2k $41.7m | Reduced -234.4k |
| Pictet Asset Management Holding SA 0.04% of their portfolio | 101.9k $41.2m | Added +18.6k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.14% of their portfolio | 101.9k $41.2m | Added +21.5k |
| Asset Management One Co., Ltd. 0.13% of their portfolio | 100.5k $40.6m | Added +12.1k |
| Cambridge Investment Research Advisors, Inc. 0.12% of their portfolio | 100.2k $40.5m | Reduced -11.6k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 99.9k $40.4m | Added +9.1k |
| Creative Planning 0.03% of their portfolio | 99.8k $40.3m | Reduced -10.7k |