Strategy Inc: which funds bought and sold

Institutions that bought and sold Strategy shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 450 institutions that filed 13F reports for both quarters added to or opened positions in Strategy, and 450 cut or closed them. Together they added a net 8.2M shares, +4.2% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 587K shares (+1.2%); index fund managers were net buyers of 3.9M shares (+6.1%). 87 opened a new position and 180 sold out entirely.

Bought, Q2 2026 450 institutions, 87 of them new holders Sold, Q2 2026 450 institutions, 180 of them sold out

Net change, all compared +8.2M shares (+4.2%)

Net change, active managers +587K shares (+1.2%), 34 bought, 21 sold

Buyers versus sellers

institutions compared, 1,011

450 bought 111 450 sold

Active managers and hedge funds 34 bought · 21 sold · +587K

Index fund managers 8 bought · 4 sold · +3.9M

Other institutions 408 bought · 425 sold · +3.7M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Goldman Sachs Group Inc	+4.0M +225.2%	5.8M	$505M
Capital International Investors Active manager	+3.5M +11.0%	34.9M	$3B
Jane Street Group, LLC	+2.5M +1176.1%	2.7M	$233M
Blackrock, Inc. Index funds	+1.6M +9.2%	19.4M	$1.7B
HRT Financial LP	+1.4M New position	1.4M	$119M
Wells Fargo & Company	+1.3M +174.7%	2.0M	$173M
Susquehanna International Group, LLP	+1.2M +96.5%	2.5M	$219M
Capstone Investment Advisors, LLC Hedge fund	+1.2M +1948.1%	1.3M	$113M
Capula Management Ltd Hedge fund	+998K +22397.4%	1.0M	$87.1M
Vanguard Capital Management LLC Index funds	+861K +6.1%	14.9M	$1.3B
Amundi	+792K +148.9%	1.3M	$115M
Quadrature Capital Ltd Hedge fund	+729K +174.0%	1.1M	$99.9M
National Bank Of Canada	+678K +127.8%	1.2M	$105M
Invesco Ltd.	+616K +7.1%	9.3M	$812M
Vanguard Portfolio Management LLC Index funds	+612K +4.1%	15.4M	$1.3B
State Street Corp Index funds	+507K +7.2%	7.5M	$654M
Harvest Portfolios Group Inc.	+442K +16.5%	3.1M	$271M
Renaissance Technologies LLC Hedge fund	+423K +19.8%	2.6M	$222M
Peak6 LLC	+388K New position	388K	$33.8M
Caitong International Asset Management Co., Ltd	+334K New position	334K	$29.1M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Capital International Investors Active manager	+3.5M +11.0%	34.9M	$3B
Capstone Investment Advisors, LLC Hedge fund	+1.2M +1948.1%	1.3M	$113M
Capula Management Ltd Hedge fund	+998K +22397.4%	1.0M	$87.1M
Quadrature Capital Ltd Hedge fund	+729K +174.0%	1.1M	$99.9M
Renaissance Technologies LLC Hedge fund	+423K +19.8%	2.6M	$222M
D. E. Shaw & Co., Inc. Hedge fund	+144K +498.6%	172K	$15M
Los Angeles Capital Management LLC Active manager	+80K +6539.4%	81K	$7.1M
Squarepoint Ops LLC Hedge fund	+63K +78.6%	144K	$12.5M
American Century Companies Inc Active manager	+46K +109.4%	88K	$7.6M
Price T Rowe Associates Inc Active manager	+40K +9.4%	466K	$40.5M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Capital Research Global Investors Active manager	−4.6M −60.7%	3.0M	$260M
Defiance Etfs, LLC	−2.9M Sold out	0	—
Bank Of America Corp	−2.8M −70.3%	1.2M	$102M
Marex Group Ltd	−1.9M −56.9%	1.5M	$128M
Alberta Investment Management Corp	−1.4M Sold out	0	—
UBS Group AG	−1.4M −21.7%	4.9M	$430M
Citadel Advisors LLC Hedge fund	−1.1M −90.3%	118K	$10.3M
FMR LLC Active manager	−536K −54.9%	440K	$38.2M
Canada Pension Plan Investment Board	−475K −91.1%	46K	$4M
Tidal Investments LLC	−369K −27.1%	991K	$86.2M
Old Mission Capital LLC	−276K −92.8%	22K	$1.9M
Vontobel Holding Ltd.	−271K −72.6%	102K	$8.9M
UBS Am, A Distinct Business Unit Of UBS Asset Management Americas LLC	−227K −14.4%	1.3M	$117M
SG Americas Securities, LLC	−165K −29.5%	394K	$34.2M
Hudson Bay Capital Management LP Hedge fund	−150K −65.4%	79K	$6.9M
Bank Of Montreal	−143K −16.8%	710K	$61.7M
APG Asset Management N.V.	−134K Sold out	0	—
Sih Partners, LLLP	−133K −78.5%	37K	$3.2M
Bit Capital Gmbh	−106K Sold out	0	—
LMR Partners LLP Hedge fund	−97K −35.0%	181K	$15.7M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Capital Research Global Investors Active manager	−4.6M −60.7%	3.0M	$260M
Citadel Advisors LLC Hedge fund	−1.1M −90.3%	118K	$10.3M
FMR LLC Active manager	−536K −54.9%	440K	$38.2M
Hudson Bay Capital Management LP Hedge fund	−150K −65.4%	79K	$6.9M
LMR Partners LLP Hedge fund	−97K −35.0%	181K	$15.7M
Centiva Capital, LP Hedge fund	−76K −96.5%	2,764	$240,275
Point72 Asset Management, L.P. Hedge fund	−72K Sold out	0	—
Schroder Investment Management Group Active manager	−59K −77.4%	17K	$1.5M
Man Group PLC Hedge fund	−33K −31.9%	71K	$6.2M
Alliancebernstein L.P. Active manager	−20K −16.8%	98K	$12.3M

New positions

largest by value

Institution	Shares	Value June 30, 2026
HRT Financial LP	1.4M	$119M
Peak6 LLC	388K	$33.8M
Caitong International Asset Management Co., Ltd	334K	$29.1M
Virtu Financial LLC	329K	$28.6M
Imc-Chicago, LLC	295K	$25.6M
Compass Rose Asset Management, LP	203K	$17.6M
Ossiam	186K	$16.1M
Virginia Retirement Systems Et Al	100K	$8.7M
Oak Thistle LLC	67K	$5.8M
Quantitative Investment Management, LLC	61K	$5.3M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Defiance Etfs, LLC	2.9M	$359M
Alberta Investment Management Corp	1.4M	$172M
APG Asset Management N.V.	134K	$14.5M
Bit Capital Gmbh	106K	$13.3M
Himension Capital (Singapore) Pte. Ltd.	89K	$11M
Point72 Asset Management, L.P.Hedge fund	72K	$9M
Simplex Trading, LLC	46K	$5.7M
Oasis Advisors, LLC	44K	$5.4M
Varma Mutual Pension Insurance Co	43K	$5.4M
Erste Asset Management Gmbh	35K	$4.3M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 848
Ten largest holders: 59.9%
Index fund managers: 32.4%
Active managers and hedge funds: 24.2%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	34	21	12	8	+587K	+1.2%
Index fund managers	8	4	0	0	+3.9M	+6.1%
Other institutions	408	425	75	172	+3.7M	+4.5%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Strategy.

Only managers that filed a holdings report for both quarters are compared (1,011 here). 34 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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