Vault-13

STRATEGY INC MSTR 8 PERP

SERIES A PERP PF · PUBLIC · CUSIP 594972887

94 institutional holders +8 vs Q4 2025
6,496,1376.5m shares reported held*
$445.1mreported value*
19 new 29 added 21 reduced 8 sold out net sold ≈ $59.5m (-638.1k shares)

* 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. Holder counts are more reliable. Implied quarter-end price ≈ $68.52.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

050100Q1 25: 57Q2 25: 87Q3 25: 94Q4 25: 86Q1 26: 9494Q1 25Q2 25Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q1 202557
Q2 202587
Q3 202594
Q4 202586
Q1 202694

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q2 25: 68 bought or addedQ2 25: 18 cut or sold outQ2 25Q3 25: 63 bought or addedQ3 25: 31 cut or sold outQ3 25Q4 25: 43 bought or addedQ4 25: 46 cut or sold outQ4 25Q1 26: 48 bought or addedQ1 26: 29 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20256818
Q3 20256331
Q4 20254346
Q1 20264829

Biggest buyers

ParaFi Capital LP Added +230,250+230.2k
MILLENNIUM MANAGEMENT LLC New +206,400+206.4k
Capital World Investors Added +100,313+100.3k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Added +59,041+59.0k
MANUFACTURERS LIFE INSURANCE COMPANY, THE New +24,300+24.3k
Andina Capital Management, LLC New +22,309+22.3k
Kovack Advisors, Inc. Added +19,911+19.9k
MORGAN STANLEY Added +18,780+18.8k
REGIONS FINANCIAL CORP New +14,500+14.5k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +13,797+13.8k

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Sold out -625,000-625.0k
Capital International Investors Reduced -569,719-569.7k
BlackRock, Inc. Reduced -93,700-93.7k
VAN ECK ASSOCIATES CORP Reduced -64,379-64.4k
DEUTSCHE BANK AG\ Reduced -18,400-18.4k
Steward Partners Investment Advisory, LLC Reduced -10,065-10.1k
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -7,933-7.9k
Kestra Advisory Services, LLC Sold out -5,990-6.0k
LPL Financial LLC Reduced -5,491-5.5k
Beaird Harris Wealth Management, LLC Reduced -5,248-5.2k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.03% of their portfolio Los Angeles, CA 1,522,6811.5m $107.7m $107.7m 0.03% Reduced -569.7k -569,719
2 BlackRock, Inc. 0.00% of their portfolio New York, NY 969,048969.0k $68.5m $68.5m 0.00% Reduced -93.7k -93,700
3 Capital World Investors 0.01% of their portfolio LOS ANGELES, CA 736,597736.6k $52.1m $52.1m 0.01% Added +100.3k +100,313
4 ParaFi Capital LP 9.57% of their portfolio NEW YORK, NY 430,628430.6k $30.4m $30.4m 9.57% Added +230.2k +230,250
5 VAN ECK ASSOCIATES CORP 0.02% of their portfolio NEW YORK, NY 355,290355.3k $25.1m $25.1m 0.02% Reduced -64.4k -64,379
6 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.03% of their portfolio CAUSEWAY BAY, K3 300,109300.1k $21.2m $21.2m 0.03% Added +59.0k +59,041
7 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 252,865252.9k $17.9m $17.9m 0.00% Reduced -5.5k -5,491
8 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 206,400206.4k $143.9k $143.9k 0.00% New
9 Kovack Advisors, Inc. 0.77% of their portfolio FT. LAUDERDALE, FL 201,990202.0k $14.4m $14.4m 0.77% Added +19.9k +19,911
10 Calamos Advisors LLC 0.05% of their portfolio NAPERVILLE, IL 200,000200.0k $14.1m $14.1m 0.05% Unchanged
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 168,000168.0k $11.9m $11.9m 0.00% Added +3.0k +3,000
12 INFRASTRUCTURE CAPITAL ADVISORS, LLC 1.02% of their portfolio New York, NY 153,001153.0k $10.8m $10.8m 1.02% Added +13.8k +13,797
13 FMR LLC 0.00% of their portfolio BOSTON, MA 135,600135.6k $9.6m $9.6m 0.00% Unchanged
14 ADVENT CAPITAL MANAGEMENT /DE/ 0.21% of their portfolio NEW YORK, NY 97,80597.8k $7.0m $7.0m 0.21% Reduced -7.9k -7,933
15 Aspiring Ventures, LLC 1.91% of their portfolio CINCINNATI, OH 81,50281.5k $5.8m $5.8m 1.91% Reduced -1.6k -1,628
16 Greenland Capital Management LP 1.01% of their portfolio NEW YORK, NY 71,68171.7k $5.1m $5.1m 1.01% Added +1.7k +1,681
17 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 65,07565.1k $4.6m $4.6m 0.00% Added +18.8k +18,780
18 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 56,82956.8k $4.0m $4.0m 0.00% Added +11.2k +11,176
19 Ionic Capital Management LLC 2.24% of their portfolio NEW YORK, NY 37,77237.8k $2.7m $2.7m 2.24% Added +9.0k +9,000
20 Pasadena Private Wealth, LLC 0.35% of their portfolio PASADENA, CA 35,73235.7k $2.5m $2.5m 0.35% Reduced -1.4k -1,432
21 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 34,05434.1k $2.4m $2.4m 0.00% Added +1.3k +1,330
22 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 24,30024.3k $1.7m $1.7m 0.00% New
23 Andina Capital Management, LLC 1.40% of their portfolio LOGAN, UT 22,30922.3k $1.6m $1.6m 1.40% New
24 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 21,00821.0k $1.5m $1.5m 0.00% Reduced -1.0k -1,029
25 Wealthcare Advisory Partners LLC 0.03% of their portfolio WEST CHESTER, PA 20,79220.8k $1.5m $1.5m 0.03% Added +3.6k +3,576
26 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 20,51620.5k $1.5m $1.5m 0.00% Added +783 +783
27 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 20,25620.3k $1.4m $1.4m 0.00% Reduced -3.6k -3,587
28 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 16,99717.0k $1.2m $1.2m 0.00% Reduced -500 -500
29 Marex Group Ltd 0.01% of their portfolio London, X0 16,40116.4k $1.2m $1.2m 0.01% Added +12.0k +12,001
30 Sentinel Dome Partners, LLC 1.08% of their portfolio BURLINGAME, CA 16,00016.0k $1.1m $1.1m 1.08% Unchanged
31 REGIONS FINANCIAL CORP 0.01% of their portfolio BIRMINGHAM, AL 14,50014.5k $1.0m $1.0m 0.01% New
32 WEDBUSH SECURITIES INC 0.03% of their portfolio PASADENA, CA 14,44914.4k $1.0m $1.0m 0.03% Reduced -50 -50
33 INDEPENDENT FINANCIAL GROUP, LLC 0.02% of their portfolio SAN DIEGO, CA 12,97013.0k $917.0k $917.0k 0.02% Added +300 +300
34 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 12,28412.3k $868.5k $868.5k 0.00% Reduced -5.1k -5,051
35 Ewing Morris & Co. Investment Partners Ltd. 0.34% of their portfolio TORONTO, Z4 10,68110.7k $755.1k $755.1k 0.34% Added +1.2k +1,189
36 Apollon Wealth Management, LLC 0.01% of their portfolio MOUNT PLEASANT, SC 10,20010.2k $721.1k $721.1k 0.01% Added +5.2k +5,200
37 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 9,3009.3k $657.5k $657.5k 0.00% Unchanged
38 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 7,9007.9k $558.5k $558.5k 0.00% Reduced -18.4k -18,400
39 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 7,8107.8k $552.2k $552.2k 0.00% Reduced -10.1k -10,065
40 Independent Advisor Alliance 0.00% of their portfolio CHARLOTTE, NC 5,9405.9k $419.9k $419.9k 0.00% Added +100 +100
41 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 5,5585.6k $393.0k $393.0k 0.00% New
42 UBS Group AG 0.00% of their portfolio ZURICH, V8 5,1255.1k $362.3k $362.3k 0.00% Added +5.1k +5,068
43 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 5,0455.0k $356.7k $356.7k 0.00% Added +1.3k +1,340
44 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 5,0005.0k $353.5k $353.5k 0.00% Unchanged
45 One Capital Management, LLC 0.01% of their portfolio WESTLAKE VILLAGE, CA 4,8374.8k $342.0k $342.0k 0.01% New
46 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 4,5804.6k $323.8k $323.8k 0.00% New
47 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 4,2874.3k $303.1k $303.1k 0.00% Added +3.4k +3,412
48 Ulland Investment Advisors, LLC 0.25% of their portfolio MINNEAPOLIS, MN 4,0754.1k $288.0k $288.0k 0.25% Unchanged
49 Sovran Advisors, LLC 0.02% of their portfolio SAN DIEGO, CA 3,9243.9k $307.0k $307.0k 0.02% Added +1.3k +1,345
50 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 3,8633.9k $273.1k $273.1k 0.00% New
51 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 3,8513.9k $272.0k $272.0k 0.00% Reduced -698 -698
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 3,8003.8k $268.7k $268.7k 0.00% Added +100 +100
53 Ground Swell Capital, LLC 0.48% of their portfolio FOLLY BEACH, SC 3,4673.5k $245.1k $245.1k 0.48% New
54 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 3,4463.4k $205.0k $205.0k 0.00% Unchanged
55 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 3,4453.4k $244.8k $244.8k 0.02% Unchanged
56 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 3,2063.2k $226.5k $226.5k 0.00% Reduced -1.2k -1,185
57 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 3,1153.1k $221.4k $221.4k 0.00% Reduced -1.7k -1,717
58 Synergy Asset Management, LLC 0.02% of their portfolio VANCOUVER, WA 3,0893.1k $218.4k $218.4k 0.02% New
59 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,0163.0k $213.2k $213.2k 0.00% Reduced -828 -828
60 Fiduciary Alliance LLC 0.01% of their portfolio GREENVILLE, SC 2,9973.0k $223.8k $223.8k 0.01% Unchanged
61 Exit Wealth Advisors, LLC. 0.11% of their portfolio ATLANTA, GA 2,9953.0k $211.8k $211.8k 0.11% New
62 Avantax Planning Partners, Inc. 0.01% of their portfolio DUBUQUE, IA 2,9533.0k $208.8k $208.8k 0.01% Unchanged
63 Marathon Trading Investment Management LLC 0.04% of their portfolio RADNOR, PA 2,1002.1k $148.5k $148.5k 0.04% Unchanged
64 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 1,4641.5k $103.5k $103.5k 0.00% New
65 SUMMIT SECURITIES GROUP LLC 0.05% of their portfolio NEW YORK, NY 1,3911.4k $98.3k $98.3k 0.05% New
66 Aptus Capital Advisors, LLC 0.00% of their portfolio FAIRHOPE, AL 1,2641.3k $89.4k $89.4k 0.00% Added +4 +4
67 Beaird Harris Wealth Management, LLC 0.01% of their portfolio DALLAS, TX 1,0881.1k $76.9k $76.9k 0.01% Reduced -5.2k -5,248
68 Ascentis Wealth Management, LLC 0.01% of their portfolio DALLAS, TX 938938 $66.3k $66.3k 0.01% Unchanged
69 CWM, LLC 0.00% of their portfolio OMAHA, NE 909909 $64.3k $64.3k 0.00% Added +14 +14
70 Moisand Fitzgerald Tamayo, LLC 0.01% of their portfolio ORLANDO, FL 692692 $48.9k $48.9k 0.01% Added +19 +19
71 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 672672 $47.5k $47.5k 0.00% Unchanged
72 Costello Asset Management, INC 0.01% of their portfolio FEASTERVILLE, PA 500500 $35.4k $35.4k 0.01% Unchanged
73 VIRTUS ADVISERS, LLC 0.01% of their portfolio HARTFORD, CT 400400 $28.4k $28.4k 0.01% Unchanged
74 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 345345 $24.4k $24.4k 0.00% Added +44 +44
75 Truvestments Capital LLC 0.00% of their portfolio SARASOTA, FL 300300 $21.2k $21.2k 0.00% Unchanged
76 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 274274 $19.0k $19.0k 0.00% Added +227 +227
77 Golden State Wealth Management, LLC 0.00% of their portfolio SANTA ANA, CA 243243 $17.2k $17.2k 0.00% Unchanged
78 VISION FINANCIAL MARKETS LLC 0.02% of their portfolio STAMFORD, CT 220220 $15.5k $15.5k 0.02% Reduced -146 -146
79 Activest Wealth Management 0.00% of their portfolio AVENTURA, FL 205205 $14.5k $14.5k 0.00% Unchanged
80 Scarborough Advisors, LLC 0.00% of their portfolio ANNAPOLIS, MD 170170 $12.0k $12.0k 0.00% New
81 Physician Wealth Advisors, Inc. 0.00% of their portfolio MIDVALE, UT 157157 $11.1k $11.1k 0.00% Unchanged
82 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 105105 $7.6k $7.6k 0.00% Unchanged
83 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 100100 $7.1k $7.1k 0.00% New
84 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 100100 $7.1k $7.1k 0.00% New
85 Sound Income Strategies, LLC 0.00% of their portfolio FT LAUDERDALE, FL 9292 $6.6k $6.6k 0.00% Unchanged
86 Triumph Capital Management 0.00% of their portfolio DENVER, CO 3030 $2.1k $2.1k 0.00% Unchanged
87 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 2828 $2.0k $2.0k 0.00% New
88 Legacy Wealth Managment, LLC/ID 0.00% of their portfolio BOISE, ID 2222 $1.6k $1.6k 0.00% Unchanged
89 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 2121 $1.5k $1.5k 0.00% New
90 Asset Dedication, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1616 $1.1k $1.1k 0.00% Added +3 +3
91 Strategic Advocates LLC 0.00% of their portfolio SACRAMENTO, CA 66 $424 $424 0.00% Unchanged
92 Atlantic Union Bankshares Corp 0.00% of their portfolio GLEN ALLEN, VA 55 $354 $354 0.00% Unchanged
93 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 55 $354 $354 0.00% New
94 Ankerstar Wealth, LLC 0.00% of their portfolio LEANDER, TX 33 $212 $212 0.00% Reduced -21 -21