Strategy Inc is a US-listed company in the application software industry. Its financial year ends in December.
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~$160
Reported crypto treasury NAV
Base case. Range ~$160–$160. Reported crypto holdings at fair value plus cash and short-term investments, less debt, preferred stock and other claims, per listed share.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Strategy Inc valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months was $498m, up 7.8% on a year earlier, faster than 6.8% a quarter earlier. The diluted share count is up 25.5% on a year earlier, which dilutes existing holders. Our price-to-book vs peers value is $252 a share, against a share price of $144.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Strategy Inc's trailing-twelve-month revenue grew 4.2% year on year, with a free-cash-flow margin of -2.2%. Where it lags: operating margin of -3905.9% ranks 177 of 181 application software companies we cover.
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 96% in the quarter to 2026-09-30.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
Reported holdings, with the date attached
Balance date: 2026-09-30
This measures the reported treasury after the equity-bridge claims. It excludes the operating business, mining equipment and other assets, and is not updated for crypto price moves or purchases since the filing. A treasury deficit does not mean the whole company has negative equity value.
Source filing ↗We value Strategy Inc as a crypto treasury or miner, with every model that fits that kind of business. Cost of equity 13.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.89 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Reported crypto treasury NAV Reported crypto holdings at fair value plus cash and short-term investments, less debt, preferred stock and other claims, per listed share. Dated to the filing; excludes the operating business and future token purchases. Not a live crypto NAV. | ~$160 | Primary model, counts double |
| Combined value Reported crypto treasury NAV only, not a valuation of the operating business. No growth, price premium or future crypto purchases are assumed. | ~$160 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Strategy Inc with crypto treasuries and miners in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Weak moat
How hard Strategy's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Cash operating profit has been a median 22.3% of total assets over 7 years.
Gross margin has been a median 79.6%, moving by 4.8 percentage points (standard deviation) across 10 years.
Operating margin has been a median -27.7%; its worst year was -3905.9%.
Free cash flow was positive in 6 of 10 years, at a median 5.1% of revenue.
The diluted share count rose 220.0% over five years; stock-based pay has been a median 8.4% of revenue.
AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (58 before it).
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$16.36 | −7% | $501m | +5% |
| Next | $11.12 | +168% | $513m | +3% |
Next year's EPS estimate has moved +26.8% in 90 days, across 9 analysts.
The consensus EPS forecast for the current fiscal year is −321.5% on 90 days ago. In the last 30 days, 3 analysts raised Strategy Inc's forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $7.39 | $8.77 |
| 60 days ago | −$21.05 | $15.79 |
| 30 days ago | −$21.94 | $13.12 |
| 7 days ago | −$19.12 | $13.04 |
| Now | −$16.36 | $11.12 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $22.89 | $44.75 | +95.5% |
| Jun 2026 | $3.07 | −$24.45 | −895.3% |
| Mar 2026 | −$15.33 | −$38.25 | −149.6% |
| Dec 2025 | −$20.99 | −$42.93 | −104.5% |
Adjusted EPS as companies report it, against the average analyst estimate.
Last 12 months −51.5%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $462m | $498m | +7.8% |
| P/S multiple | 143.2x | 80.9x | −43.5% |
| Share count | 246m | 308m | −20.3% |
Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| MSTR | +40% | −74% | +346% | +359% | −48% | −14% |
| Industry peers (median) | −8% | −50% | +19% | +2% | −20% | −14% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| MSTR | 50% | 33% | 75% | 58% | 33% | 46% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| MSTR | −65% | −76% | −36% | −46% | −67% | −58% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 89% from February 9, 2021 to December 29, 2022. Getting back needed a 832% gain, reached on March 4, 2024, 431 days after the low.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 29, 2026 | −10.1% | −2.1% | — | — |
| July 30, 2026 | −0.1% | +2.4% | +3.8% | +36.4% |
| May 5, 2026 | +1.6% | +2.2% | +0.3% | −29.6% |
| February 5, 2026 | +4.5% | +0.6% | −4.7% | +7.6% |
| October 30, 2025 | −2.1% | −0.8% | −13.9% | −37.7% |
| October 6, 2025 | −6.6% | 0.0% | −10.3% | −29.8% |
| July 31, 2025 | −7.2% | −2.0% | +1.8% | −15.3% |
| July 7, 2025 | −1.7% | −0.8% | +11.6% | −7.1% |
| May 1, 2025 | +3.8% | +2.2% | +9.0% | −2.1% |
| April 7, 2025 | −19.0% | −1.7% | +6.1% | +33.7% |
| February 5, 2025 | −6.6% | +0.8% | −6.2% | −17.6% |
| January 6, 2025 | +0.5% | −0.6% | +0.7% | −4.2% |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $496.3M |
| FY24 Q1 | $489.6M |
| FY24 Q2 | $480.6M |
| FY24 Q3 | $467.2M |
| FY24 Q4 | $463.5M |
| FY25 Q1 | $459.3M |
| FY25 Q2 | $462.3M |
| FY25 Q3 | $474.9M |
| FY25 Q4 | $477.2M |
| FY26 Q1 | $490.5M |
| FY26 Q2 | $498.3M |
| FY26 Q3 | $495.1M |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q4 | -0.6% |
| FY24 Q1 | -2.5% |
| FY24 Q2 | -3.9% |
| FY24 Q3 | -7.4% |
| FY24 Q4 | -6.6% |
| FY25 Q1 | -6.2% |
| FY25 Q2 | -3.8% |
| FY25 Q3 | 1.6% |
| FY25 Q4 | 3.0% |
| FY26 Q1 | 6.8% |
| FY26 Q2 | 7.8% |
| FY26 Q3 | 4.2% |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q4 | -23.2% |
| FY24 Q1 | -61.0% |
| FY24 Q2 | -98.2% |
| FY24 Q3 | -188.2% |
| FY24 Q4 | -399.8% |
| FY25 Q1 | -1648.4% |
| FY25 Q2 | 1440.9% |
| FY25 Q3 | 2312.9% |
| FY25 Q4 | -1140.8% |
| FY26 Q1 | -2853.1% |
| FY26 Q2 | -7295.4% |
| FY26 Q3 | -3905.9% |
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q4 | 2.0% |
| FY24 Q1 | -0.0% |
| FY24 Q2 | -1.0% |
| FY24 Q3 | -8.0% |
| FY24 Q4 | -12.1% |
| FY25 Q1 | -19.2% |
| FY25 Q2 | -21.9% |
| FY25 Q3 | -14.9% |
| FY25 Q4 | -15.8% |
| FY26 Q1 | -11.7% |
| FY26 Q2 | -5.3% |
| FY26 Q3 | -2.2% |
| Fiscal year | 2009 Dec 2009 | 2010 Dec 2010 | 2011 Dec 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||||||||||
| Revenue | 0.4 | 0.5 | 0.5 | 0.6 | 0.6 | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 |
| Gross profit | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 |
| EBITDA | 0.1 | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | 0.2 | 0.1 | 0.1 | 0.0 | 0.0 | −0.0 | −0.8 | −1.3 | −0.1 | −1.8 | −5.4 | −19.3 |
| Operating income | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.0 | −0.0 | −0.0 | −0.8 | −1.3 | −0.1 | −1.9 | −5.4 | −19.3 |
| Net income | 0.1 | 0.0 | 0.0 | 0.0 | 0.1 | 0.0 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | −0.0 | −0.5 | −1.5 | 0.4 | −1.2 | −3.8 | −13.7 |
| Diluted EPS | $0.61 | $0.37 | $0.16 | $0.18 | $0.74 | $0.04 | $0.92 | $0.80 | $0.16 | $0.20 | $0.33 | −$0.08 | −$5.34 | −$12.98 | $2.64 | −$6.06 | −$15.23 | −$40.60 |
| Growth (year on year) | ||||||||||||||||||
| Revenue | — | +20.3% | +18.2% | +5.3% | +1.8% | +0.7% | −8.6% | −3.1% | −1.9% | −1.2% | −2.3% | −1.1% | +6.2% | −2.3% | −0.6% | −6.6% | +3.0% | +4.2% |
| EBITDA | — | −37.8% | −32.8% | +45.7% | −17.5% | −33.7% | +410.7% | −16.6% | −31.4% | −91.3% | — | — | — | — | — | — | — | −275.3% |
| Operating income | — | −41.4% | −58.8% | +58.6% | −41.3% | −73.7% | — | −18.3% | −33.1% | −94.6% | — | — | — | — | — | — | — | −276.0% |
| Net income | — | −41.5% | −59.0% | +14.5% | +305.6% | −94.0% | — | −12.9% | −80.3% | +23.7% | +52.7% | −121.9% | — | — | — | −371.9% | — | −272.6% |
| Diluted EPS | — | −38.9% | −56.5% | +13.6% | +300.5% | −94.0% | — | −12.7% | −80.3% | +24.7% | +69.0% | −123.4% | — | — | — | −329.5% | — | −241.1% |
| Margins | ||||||||||||||||||
| Gross margin | 82.4% | 76.7% | 75.7% | 75.1% | 75.9% | 76.7% | 80.9% | 81.9% | 80.8% | 80.0% | 79.4% | 81.1% | 82.0% | 79.4% | 77.8% | 72.1% | 68.7% | 67.8% |
| EBITDA margin | 24.2% | 12.5% | 7.1% | 9.8% | 8.0% | 5.2% | 29.3% | 25.2% | 17.6% | 1.5% | 1.6% | −0.1% | −151.4% | −253.3% | −20.3% | −396.0% | <−999% | <−999% |
| Operating margin | 22.8% | 11.1% | 3.9% | 5.9% | 3.4% | 0.9% | 25.3% | 21.3% | 14.5% | 0.8% | −0.2% | −2.8% | −153.6% | −255.5% | −23.2% | −399.8% | <−999% | <−999% |
| Net margin | 19.8% | 9.6% | 3.3% | 3.6% | 14.5% | 0.9% | 20.0% | 18.0% | 3.6% | 4.5% | 7.1% | −1.6% | −104.8% | −294.4% | 86.5% | −251.7% | −806.3% | <−999% |
| Free-cash-flow margin | 20.7% | 13.1% | 4.5% | 3.6% | 3.3% | 0.4% | 27.6% | 21.1% | 14.8% | 0.8% | 10.4% | 10.4% | 17.8% | 0.1% | 2.0% | −12.1% | −15.8% | −2.2% |
| Cash flow | ||||||||||||||||||
| Cash from operations | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | −0.1 | −0.1 | −0.0 |
| Capital spending | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Free cash flow | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.0 | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | −0.1 | −0.1 | −0.0 |
| Stock-based pay | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Free cash flow after stock pay | — | — | 0.0 | 0.0 | 0.0 | −0.0 | 0.1 | 0.1 | 0.1 | −0.0 | 0.0 | 0.0 | 0.0 | −0.1 | −0.1 | −0.1 | −0.1 | −0.1 |
| Balance sheet | ||||||||||||||||||
| Cash | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.3 | 0.4 | 0.4 | 0.1 | 0.5 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 2.3 | 2.5 |
| Total debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.5 | 2.2 | 2.4 | 2.2 | 7.2 | 8.2 | 6.7 |
| Net debt (negative = net cash) | −0.2 | −0.2 | −0.2 | −0.2 | −0.2 | −0.1 | −0.3 | −0.4 | −0.4 | −0.1 | −0.5 | 0.4 | 2.1 | 2.3 | 2.1 | 7.2 | 5.9 | 4.2 |
| Diluted shares | 123m | 118m | 111m | 112m | 113m | 114m | 115m | 115m | 115m | 114m | 103m | 97m | 100m | 113m | 166m | 193m | 278m | 337m |
| Returned to shareholders | ||||||||||||||||||
| Dividends | — | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | — | — | — | — |
| Buybacks | 0.0 | 0.1 | 0.0 | 0.0 | — | — | — | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | — | — | — | — |
| Total returned | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | — | — | — | — |
| Quarter | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 | 2026 Q3 Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Gross profit | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| EBITDA | −1.0 | −5.9 | 14.0 | 3.9 | −17.4 | −14.5 | −8.3 | 20.9 |
| Operating income | −1.0 | −5.9 | 14.0 | 3.9 | −17.4 | −14.5 | −8.3 | 20.9 |
| Net income | −0.7 | −4.2 | 10.0 | 2.8 | −12.4 | −12.5 | −8.2 | 19.5 |
| Diluted EPS | −$3.35 | −$16.49 | $32.60 | $8.42 | −$42.94 | −$38.25 | −$24.45 | $44.75 |
| Growth (year on year) | ||||||||
| Revenue | −3.0% | −3.6% | +2.7% | +10.9% | +1.9% | +11.9% | +6.9% | −2.5% |
| EBITDA | — | — | — | — | — | — | −159.2% | +437.1% |
| Operating income | — | — | — | — | — | — | −159.4% | +437.4% |
| Net income | −852.7% | — | — | — | — | — | −182.0% | +601.4% |
| Diluted EPS | <−999% | — | — | — | — | — | −175.0% | +431.5% |
| Margins | ||||||||
| Gross margin | 71.7% | 69.4% | 68.8% | 70.5% | 66.1% | 67.1% | 66.6% | 71.5% |
| EBITDA margin | −837.9% | <−999% | >999% | >999% | <−999% | <−999% | <−999% | >999% |
| Operating margin | −842.1% | <−999% | >999% | >999% | <−999% | <−999% | <−999% | >999% |
| Net margin | −555.8% | <−999% | >999% | >999% | <−999% | <−999% | <−999% | >999% |
| Free-cash-flow margin | −14.6% | −4.6% | −32.3% | −8.6% | −18.1% | 10.5% | −4.8% | 3.2% |
| Cash flow | ||||||||
| Cash from operations | −0.0 | −0.0 | −0.0 | −0.0 | −0.0 | 0.0 | −0.0 | 0.0 |
| Capital spending | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Free cash flow | −0.0 | −0.0 | −0.0 | −0.0 | −0.0 | 0.0 | −0.0 | 0.0 |
| Stock-based pay | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Free cash flow after stock pay | −0.0 | −0.0 | −0.1 | −0.0 | −0.0 | −0.0 | −0.0 | −0.0 |
| Last 12 months unless stated | MSTR | PD | PAR | SPT | CLBT | ADEA | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $495m | $495m | $497m | $482m | $476m | $471m | $482m |
| Revenue growth, last 12 months | 4.2% | 2.3% | 18.8% | 11.8% | 18.6% | 24.3% | 12.0% |
| Revenue growth, 3-year average | −0.6% | 6.8% | 23.0% | 18.5% | — | 6.2% | 11.1% |
| Revenue growth, latest quarter | −2.5% | 0.8% | 18.7% | 10.8% | — | 12.1% | 11.9% |
| Gross margin | 67.8% | 84.8% | 42.2% | 77.4% | 84.2% | — | 69.2% |
| Operating margin | <−999% | 6.5% | −12.6% | −5.9% | 14.0% | 41.6% | 1.1% |
| Operating margin, 3-year average | −593.7% | −6.7% | −18.9% | −12.6% | — | 34.7% | −0.8% |
| Net margin | <−999% | 37.2% | −14.5% | −6.1% | 16.5% | 26.1% | 2.1% |
| Cash from operations / revenue | −1.5% | 26.6% | −2.6% | 11.2% | 36.5% | 40.6% | 18.2% |
| Free-cash-flow margin | −2.2% | 25.6% | −3.2% | 10.5% | 33.7% | 40.0% | 15.0% |
| Free-cash-flow margin, 3-year average | −8.4% | 24.0% | −7.4% | 6.2% | — | 44.8% | 16.2% |
| Stock pay / revenue | 10.3% | 16.3% | 5.9% | 15.1% | 9.4% | 7.8% | 9.3% |
| Change in share count | 22.3% | −6.1% | 6.3% | 3.2% | 19.3% | 0.5% | 2.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 4.2% | 12.0% | 133 of 184 |
| Change in growth rate Growth | -3.6pp | +0.2pp | 148 of 184 |
| Operating margin Profitability | -3905.9% | 1.1% | 177 of 181 |
| Net margin Profitability | -2760.3% | 2.1% | 180 of 185 |
| Stock pay as % of revenue Cash generation | 10.3% | 9.3% | 98 of 177 |
| Long-term debt as % of assets Balance sheet | 7.3% | 16.9% | 30 of 98 |
| Change in share count Balance sheet | 22.3% | 1.7% | 141 of 163 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Product Licenses and Subscription Services | $215M | 45.1% | ▲ 38.6% |
| Subscriptions (part of Product Licenses and Subscription Services) | $176M | 81.6% | ▲ 64.5% |
| Licenses (part of Product Licenses and Subscription Services) | $39.7M | 18.4% | ▼ 18.3% |
| Product Support | $204M | 42.8% | ▼ 16.2% |
| Other services | $57.7M | 12.1% | ▼ 10.3% |
| Region | Revenue | Share | YoY |
|---|---|---|---|
| United States | $272M | 57.0% | ▲ 4.9% |
| EMEA | $163M | 34.1% | ▲ 4.3% |
| Other Regions | $42.4M | 8.9% | ▼ 11.7% |
From Strategy Inc's 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Capital International Investors | $3B | 34.9M | 16.6% | ▲ 11.0% |
| Blackrock, Inc. | $1.7B | 19.4M | 9.2% | ▲ 9.2% |
| Vanguard Portfolio Management LLC | $1.3B | 15.4M | 7.3% | ▲ 4.1% |
| Vanguard Capital Management LLC | $1.3B | 14.9M | 7.1% | ▲ 6.1% |
| Invesco Ltd. | $812M | 9.3M | 4.4% | ▲ 7.1% |
| Morgan Stanley | $811M | 9.3M | 4.4% | ▲ 0.5% |
| State Street Corp | $654M | 7.5M | 3.6% | ▲ 7.2% |
| Goldman Sachs Group Inc | $505M | 5.8M | 2.8% | ▲ 225.2% |
| UBS Group AG | $430M | 4.9M | 2.3% | ▼ 21.7% |
| Geode Capital Management, LLC | $399M | 4.6M | 2.2% | ▼ 1.1% |
| Capital World Investors | $375M | 4.3M | 2.0% | ▲ 0.7% |
| Norges Bank | $346M | 4.0M | 1.9% | — |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Strategy Inc's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Patten Jarrod M Director | October 9, 2026 | Sell | 450 | $158.00 | $71,100 |
| Patten Jarrod M Director | October 9, 2026 | Sell | 450 | $156.00 | $70,200 |
| Patten Jarrod M Director | October 9, 2026 | Sell | 450 | $154.47 | $69,512 |
| Patten Jarrod M Director | October 8, 2026 | Sell | 450 | $152.00 | $68,400 |
| Patten Jarrod M Director | October 8, 2026 | Sell | 950 | $150.54 | $143,013 |
| Patten Jarrod M Director | September 22, 2026 | Sell | 475 | $171.00 | $81,225 |
| Patten Jarrod M Director | September 21, 2026 | Sell | 475 | $169.00 | $80,275 |
| Patten Jarrod M Director | September 21, 2026 | Sell | 475 | $167.00 | $79,325 |
| Patten Jarrod M Director | September 21, 2026 | Sell | 475 | $165.98 | $78,840 |
| Chow Thomas C. EVP & General Counsel | September 4, 2026 | Sell | 106 | $138.75 | $14,708 |
| Patten Jarrod M Director | August 27, 2026 | Sell | 925 | $129.00 | $119,325 |
| Patten Jarrod M Director | August 27, 2026 | Sell | 925 | $131.00 | $121,175 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Strategy Inc shares.
Next expected around January 13, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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