Strategy Inc
MSTR
1,089 hedge funds and large institutions have $45.1B invested in Strategy Inc in 2025 Q3 according to their latest regulatory filings, with 124 funds opening new positions, 504 increasing their positions, 325 reducing their positions, and 177 closing their positions.
55% more repeat investments, than reductions
Existing positions increased: 504 | Existing positions reduced: 325
0.48% more ownership
Funds ownership: 52.59% → 53.06% (+0.48%)
6% less call options, than puts
Call options by funds: $34.4B | Put options by funds: $36.8B
6% less funds holding
Funds holding: 1,162 → 1,089 (-73)
19% less capital invested
Capital invested by funds: $55.5B → $45.1B (-$10.3B)
26% less funds holding in top 10
Funds holding in top 10: 46 → 34 (-12)
30% less first-time investments, than exits
New positions opened: 124 | Existing positions closed: 177
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CM
Capula Management
Grand Cayman,
Cayman Islands
|
+$651M |
| 2 |
National Bank of Canada
Montreal,
Quebec, Canada
|
+$548M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$511M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
+$499M |
| 5 |
Goldman Sachs
New York
|
+$482M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CS
Clear Street
New York
|
-$443M |
| 2 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$419M |
| 3 |
Belvedere Trading
Chicago,
Illinois
|
-$316M |
| 4 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$304M |
| 5 |
Morgan Stanley
New York
|
-$289M |
MSTR Hedge Fund Activity: Q3 2025 in Review
1,089 of the 7,647 institutional investors tracked by Wall St. Rank reported a position in Strategy Inc (MSTR) for Q3 2025, worth a combined $45.1B — down 19% from $55.5B a quarter earlier.
Sellers outnumbered buyers: 177 funds closed out of MSTR and 124 opened new positions — a net loss of 53 holders — while 325 trimmed existing stakes and 504 added.
The largest buyer was Capula Management, adding an estimated $651M. The largest seller was Clear Street, cutting an estimated $443M.
- 1,089 institutional investors held Strategy Inc (MSTR) as of Q3 2025, down from 1,162 in Q2 2025.
- Funds reported $45.1B of Strategy Inc stock for Q3 2025, down 19% quarter-over-quarter.
- 124 funds opened new Strategy Inc positions in Q3 2025 and 177 closed out, a net change of -53 holders.
- The largest Strategy Inc buyer in Q3 2025 was Capula Management, an estimated $651M added.
- The largest Strategy Inc seller in Q3 2025 was Clear Street, an estimated $443M sold.
Based on aggregated 13F filings for Q3 2025.