13FPulse
MS

MSTR STRATEGY INC

2026Q2 · CUSIP 594972408 · Crypto & Digital Assets · Sector: Financials

Normal

Fund flows are within the usual range

Funds that own it
831
Institutions that reported holding it to the SEC
Net decrease in holders
109
Last quarter 940 → now 831
How unusual is that
Bottom 20%
Stronger than only 0.7% of US stocks
What the filings say, in one paragraph

831 funds held MSTR at the end of 2026Q2, down 109 from the quarter before. Fund flows are within the usual range — nothing unusual. On the business itself, revenue over the last 12 months was $498M(YoY +7.8%), return on equity is -98.5%. MSTR has had 19 buying rushes in its history, and the price moved +9.5% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Financials sector, tagged Crypto & Digital Assets.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2013Q3: holders=125 2013Q4: holders=137 2014Q1: holders=150 2014Q2: holders=147 2014Q3: holders=148 2014Q4: holders=169 2015Q1: holders=166 2015Q2: holders=180 2015Q3: holders=203 2015Q4: holders=188 2016Q1: holders=205 2016Q2: holders=193 2016Q3: holders=185 2016Q4: holders=192 2017Q1: holders=175 2017Q2: holders=167 2017Q3: holders=167 2017Q4: holders=184 2018Q1: holders=172 2018Q2: holders=176 2018Q3: holders=178 2018Q4: holders=178 2019Q1: holders=175 2019Q2: holders=160 2019Q3: holders=173 2019Q4: holders=179 2020Q1: holders=168 2020Q2: holders=184 2020Q3: holders=176 2020Q4: holders=234 2021Q1: holders=284 2021Q2: holders=272 2021Q3: holders=282 2021Q4: holders=289 2022Q1: holders=267 2022Q2: holders=235 2022Q3: holders=235 2022Q4: holders=215 2023Q1: holders=251 2023Q2: holders=270 2023Q3: holders=292 2023Q4: holders=370 2024Q1: holders=533 2024Q2: holders=593 2024Q3: holders=664 2024Q4: holders=985 2025Q1: holders=1009 2025Q2: holders=1159 2025Q3: holders=1087 2025Q4: holders=979 2026Q1: holders=940 2026Q2: holders=831 -321 -160.5 +0 +160.5 +321 1126651217 13Q315Q116Q318Q119Q321Q122Q324Q125Q326Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 19 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2025Q2 Top 1% in the market -3.1% -45.1%
2025Q1 Top 10% -4.3% -18.6%
2024Q4 Top 1% in the market -7.5% +18.4%
2024Q3 Top 5% -1.5% -22.1%
2024Q2 Top 5% +23.8% +146.3%
2024Q1 Top 1% in the market -19.1% -14.6%
2023Q4 Top 10% +130.9% +126.5%
2023Q3 Top 10% +34.1% +44.1%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
260
Change in large funds
+5
Total value they hold
$18.0B
Funds buying for the first time
106
Funds that sold out entirely
215
Price change that quarter
-26.1%
Funds holding puts (bearish)
80
Funds holding calls (bullish)
78

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
EPS (TTM)
$-94.04
EPS YoY
-960.4%
Revenue (TTM)
$0.5B
Revenue YoY
+7.8%
Net margin
ROE
-98.5%
Debt ratio
13.8%
FCF (TTM)
-$26M
Dividend (TTM)
No dividend
Quarterly Revenue & EPS
2023-09-30: EPS -1.01 2023-12-31: EPS -29.66 2024-03-31: EPS -0.31 2024-06-30: EPS -0.57 2024-09-30: EPS -1.72 2024-12-31: EPS -3.46 2025-03-31: EPS -16.49 2025-06-30: EPS 32.60 2025-09-30: EPS 8.42 2025-12-31: EPS -39.76 2026-03-31: EPS -38.25 2026-06-30: EPS -24.45 0M 70M 140M $M -43.74 -3.94 35.86 2016201720182019202020212022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
9 22 35 20252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-41M10M62M 20162017201820192020202120222023202420252026
Latest quarter $13M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

Email me the next update

2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.