Vault-13

MICROSTRATEGY INC MSTR 0 02.15.27

NOTE 2/1 · US DOMESTIC · CUSIP 594972AE1

38 institutional holders -1 vs Q1 2023
12,350,00012.3m shares reported held*
$663.9mreported value*
2 new 9 added 12 reduced 3 sold out net sold ≈ $53.3m (+5.0m 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 ($321.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $53.78. Options: 0 managers hold calls (— notional), 1 hold puts ($1.1m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 41Q4 22: 36Q1 23: 39Q2 23: 3838Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202241
Q4 202236
Q1 202339
Q2 202338

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 10 bought or addedQ4 22: 15 cut or sold outQ4 22Q1 23: 19 bought or addedQ1 23: 15 cut or sold outQ1 23Q2 23: 11 bought or addedQ2 23: 15 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221015
Q1 20231915
Q2 20231115

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ3 22 calls: $0Q3 22 puts: $0Q3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $1.1mQ2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$1.1m—

Biggest buyers

ARISTEIA CAPITAL, L.L.C. Added +12,702,000+12.7m
Fortress Investment Group LLC Added +7,190,000+7.2m
Arena Investors LP New +7,000,000+7.0m
MARSHALL WACE, LLP Added +7,000,000+7.0m
OAKTREE CAPITAL MANAGEMENT LP Added +5,235,000+5.2m
HighTower Advisors, LLC New +2,000,000+2.0m
Russell Investments Group, Ltd. Added +1,098,000+1.1m
Pinpoint Asset Management Ltd Added +1,000,000+1.0m
III Capital Management Added +500,000+500.0k
DEUTSCHE BANK AG\ Added +255,000+255.0k

Biggest sellers

FMR LLC Reduced -47,785,000-47.8m
CARRONADE CAPITAL MANAGEMENT, LP Sold out -18,853,000-18.9m
BlackRock Inc. Reduced -18,450,000-18.4m
Arena Investors LP Sold out -7,000,000-7.0m
Murchinson Ltd. Reduced -6,879,177-6.9m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Reduced -6,000,000-6.0m
OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) Reduced -5,000,000-5.0m
Jefferies Financial Group Inc. Reduced -4,294,000-4.3m
BOOTHBAY FUND MANAGEMENT, LLC Reduced -2,979,000-3.0m
CastleKnight Management LP Reduced -2,500,000-2.5m

Biggest calls

None

Biggest puts

Arena Investors LP New $1.1m570 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.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Fortress Investment Group LLC 27.78% of their portfolio NEW YORK, NY 248,828,000248.8m $164.5m $164.5m 27.78% Added +7.2m +7,190,000
2 FMR LLC 0.01% of their portfolio BOSTON, MA 117,655,000117.7m $77.8m $77.8m 0.01% Reduced -47.8m -47,785,000
3 SOROS FUND MANAGEMENT LLC 1.43% of their portfolio NEW YORK, NY 98,735,00098.7m $65.7m $65.7m 1.43% Unchanged
4 WHITEBOX ADVISORS LLC 2.58% of their portfolio MINNEAPOLIS, MN 80,800,00080.8m $53.4m $53.4m 2.58% Unchanged
5 VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio ATLANTA, GA 77,495,00077.5m $52.0m $52.0m 0.05% Unchanged
6 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.69% of their portfolio CHICAGO, IL 50,000,00050.0m $32.8m $32.8m 0.69% Reduced -5.0m -5,000,000
7 HIGHBRIDGE CAPITAL MANAGEMENT LLC 1.46% of their portfolio NEW YORK, NY 38,500,00038.5m $25.0m $25.0m 1.46% Reduced -6.0m -6,000,000
8 Calamos Advisors LLC 0.12% of their portfolio NAPERVILLE, IL 36,380,00036.4m $24.1m $24.1m 0.12% Unchanged
9 ARISTEIA CAPITAL, L.L.C. 0.83% of their portfolio GREENWICH, CT 35,398,00035.4m $23.8m $23.8m 0.83% Added +12.7m +12,702,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 19,175,00019.2m $12.6m $12.6m 0.00% Unchanged
11 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 17,000,00017.0m $11.2m $11.2m 0.02% Added +7.0m +7,000,000
12 OAKTREE CAPITAL MANAGEMENT LP 0.15% of their portfolio LOS ANGELES, CA 16,099,00016.1m $10.8m $10.8m 0.15% Added +5.2m +5,235,000
13 LMR Partners LLP 0.24% of their portfolio LONDON, X0 16,000,00016.0m $10.6m $10.6m 0.24% Unchanged
14 Murchinson Ltd. 1.19% of their portfolio TORONTO, A6 14,000,00014.0m $9.2m $9.2m 1.19% Reduced -6.9m -6,879,177
15 Jefferies Financial Group Inc. 0.17% of their portfolio NEW YORK, NY 12,155,00012.2m $7.9m $7.9m 0.17% Reduced -4.3m -4,294,000
16 BRANDES INVESTMENT PARTNERS, LP 0.14% of their portfolio LA JOLLA, CA 10,761,00010.8m $7.1m $7.1m 0.14% Unchanged
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 8,207,0008.2m $5.4m $5.4m 0.01% Unchanged
18 Point72 Asset Management, L.P. 0.02% of their portfolio STAMFORD, CT 8,000,0008.0m $5.3m $5.3m 0.02% Unchanged
19 BOOTHBAY FUND MANAGEMENT, LLC 0.15% of their portfolio NEW YORK, NY 7,142,0007.1m $4.7m $4.7m 0.15% Reduced -3.0m -2,979,000
20 Arena Investors LP 4.55% of their portfolio PURCHASE, NY 7,000,0007.0m $4.7m $4.7m 4.55% New
21 BlackRock Inc. 0.00% of their portfolio New York, NY 5,925,0005.9m $3.9m $3.9m 0.00% Reduced -18.4m -18,450,000
22 TEGEAN CAPITAL MANAGEMENT, LLC 2.22% of their portfolio New York, NY 5,000,0005.0m $3.3m $3.3m 2.22% Unchanged
23 Elliott Investment Management L.P. 0.04% of their portfolio WEST PALM BEACH, FL 5,000,0005.0m $3.3m $3.3m 0.04% Unchanged
24 Pinpoint Asset Management Ltd 0.00% of their portfolio HONG KONG, K3 5,000,0005.0m $3.3m $3.3m 0.00% Added +1.0m +1,000,000
25 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 3,734,0003.7m $2.5m $2.5m 0.00% Added +1.1m +1,098,000
26 CastleKnight Management LP 0.47% of their portfolio New York, NY 3,500,0003.5m $2.3m $2.3m 0.47% Reduced -2.5m -2,500,000
27 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 3,005,0003.0m $2.0m $2.0m 0.00% Added +255.0k +255,000
28 III Capital Management 0.16% of their portfolio BOCA RATON, FL 3,000,0003.0m $2.0m $2.0m 0.16% Added +500.0k +500,000
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,000,0002.0m $1.3m $1.3m 0.00% Unchanged
30 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 2,000,0002.0m $1.3m $1.3m 0.00% New
31 DeepCurrents Investment Group LLC 0.04% of their portfolio NEW YORK, NY 1,500,0001.5m $976.9k $976.9k 0.04% Reduced -2.0m -2,000,000
32 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $325.2k $325.2k 0.00% Unchanged
33 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 496,000496.0k $322.6k $322.6k 0.00% Added +100.0k +100,000
34 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 350,000350.0k $231.9k $231.9k 0.00% Reduced -983.0k -983,000
35 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 250,000250.0k $165.3k $165.3k 0.00% Unchanged
36 Context Capital Management, LLC 2.53% of their portfolio LAJOLLA, CA 42,56642.6k $28.0m $28.0m 2.53% Reduced -2.5k -2,494
37 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 479479 $321.4k $321.4k 0.01% Reduced -640 -640
38 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged