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STRK

Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock
STRK

84 hedge funds and large institutions have $563M invested in Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock in 2025 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 31 increasing their positions, 24 reducing their positions, and 22 closing their positions.

New
Increased
Maintained
Reduced
Closed

29% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 24

2.65% less ownership

Funds ownership: 100.53% → 97.87% (-2.7%)

9% less funds holding

Funds holding: 92 → 84 (-8)

16% less capital invested

Capital invested by funds: $670M → $563M (-$107M)

36% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 22

60% less funds holding in top 10

Funds holding in top 10: 5 → 2 (-3)

Holders
84
Holders Change
-8
Holders Change %
-8.7%
% of All Funds
1.02%
Holding in Top 10
2
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-60%
% of All Funds
0.02%
New
14
Increased
31
Reduced
24
Closed
22
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KA
Kovack Advisors
Florida
+$15.7M
2
ICA
Infrastructure Capital Advisors
New York
+$12M
3
PC
ParaFi Capital
New York
+$12M
4
Calamos Advisors
Calamos Advisors
Illinois
+$4.3M
5
BlackRock
BlackRock
New York
+$3.55M

Top Sellers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
-$22.6M
2
Hudson Bay Capital Management
Hudson Bay Capital Management
Connecticut
-$19.4M
3
AGM
Alpine Global Management
New York
-$11.6M
4
Invesco
Invesco
Georgia
-$6.51M
5
HIC
Hartline Investment Corp
Illinois
-$5.76M
Name Holding Trade Value Shares
Change 		Change in
Stake
Capital International Investors
1
Capital International Investors
California
$165M +$758K +8,800 +0.4%
BlackRock
2
BlackRock
New York
$83.7M +$3.55M +41,200 +4%
Capital World Investors
3
Capital World Investors
California
$50.1M – – –
VOYA Investment Management
4
VOYA Investment Management
Georgia
$49.2M – – –
VanEck Associates
5
VanEck Associates
New York
$33.1M +$2.55M +29,564 +8%
LPL Financial
6
LPL Financial
California
$20.3M +$813K +9,444 +4%
Mirae Asset Global ETFs Holdings
7
Mirae Asset Global ETFs Holdings
Hong Kong
$19M -$53.7K -624 -0.3%
PC
8
ParaFi Capital
New York
$15.8M +$12M +138,878 +226%
Calamos Advisors
9
Calamos Advisors
Illinois
$15.8M +$4.3M +50,000 +33%
KA
10
Kovack Advisors
Florida
$14.3M +$15.7M +182,079 New
State Street
11
State Street
Massachusetts
$13.5M -$689K -8,000 -5%
ICA
12
Infrastructure Capital Advisors
New York
$11M +$12M +139,204 New
Fidelity Investments
13
Fidelity Investments
Massachusetts
$10.7M -$22.6M -262,216 -66%
ACM
14
Advent Capital Management
New York
$8.36M +$1.08M +12,500 +13%
AV
15
Aspiring Ventures
Ohio
$6.55M +$913K +10,605 +15%
GCM
16
Greenland Capital Management
New York
$5.51M +$2.58M +30,000 +75%
Morgan Stanley
17
Morgan Stanley
New York
$3.65M -$1.79M -20,839 -31%
Stifel Financial
18
Stifel Financial
Missouri
$3.6M -$719K -8,355 -15%
PPW
19
Pasadena Private Wealth
California
$2.93M +$3.2M +37,164 New
National Bank of Canada
20
National Bank of Canada
Quebec, Canada
$2.58M +$772K +8,965 +38%
ICM
21
Ionic Capital Management
New York
$2.27M -$1.16M -13,437 -32%
Deutsche Bank
22
Deutsche Bank
Germany
$2.07M +$688K +7,987 +44%
Mercer Global Advisors
23
Mercer Global Advisors
Colorado
$1.88M +$2.05M +23,843 New
Wells Fargo
24
Wells Fargo
California
$1.74M +$391K +4,540 +26%
Commonwealth Equity Services
25
Commonwealth Equity Services
Massachusetts
$1.55M -$1.29M -14,961 -43%
1
2 3 4 5

STRK Hedge Fund Activity: Q4 2025 in Review

84 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock (STRK) for Q4 2025, worth a combined $563M — down 16% from $670M a quarter earlier.

Sellers outnumbered buyers: 22 funds closed out of STRK and 14 opened new positions — a net loss of 8 holders — while 24 trimmed existing stakes and 31 added.

The largest buyer was Kovack Advisors, opening a new position worth an estimated $15.7M. The largest seller was Fidelity Investments, cutting an estimated $22.6M.

  • 84 institutional investors held Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock (STRK) as of Q4 2025, down from 92 in Q3 2025.
  • Funds reported $563M of Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock stock for Q4 2025, down 16% quarter-over-quarter.
  • 14 funds opened new Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock positions in Q4 2025 and 22 closed out, a net change of -8 holders.
  • The largest Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock buyer in Q4 2025 was Kovack Advisors, an estimated $15.7M added.
  • The largest Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock seller in Q4 2025 was Fidelity Investments, an estimated $22.6M sold.

Based on aggregated 13F filings for Q4 2025.