Fidelity more than doubles its Strategy stake to 1.02 million shares
FMR LLC, parent of Fidelity Investments, raised its holdings of Strategy Inc. by 132% in Q3 2026 to 1.02 million shares.
FMR LLC, the parent of Fidelity Investments, significantly increased its holdings of Strategy Inc. (NASDAQ: MSTR) during the third quarter of 2026. The company now holds 1,022,050 shares, up from 439,718 the previous quarter, representing a 132% increase in its position.
The information comes from FMR LLC's Q3 2026 13F filing submitted to the SEC on November 10, 2026. This quarterly disclosure reveals institutional managers' holdings. At the end of Q2, Fidelity's Strategy stake was valued at approximately $38.2 million, growing to about $156.5 million by September 30.
Growing institutional interest
Fidelity was not alone in increasing exposure to Strategy during the quarter. Amundi raised its holdings by about 44% to roughly 1.9 million shares, valued at around $291.4 million. Meanwhile, Fulcrum Asset Management established a new position, disclosing 54,876 shares worth approximately $8.5 million.
These filings don't explain the reasoning behind the moves. A 13F lists what a manager owns but doesn't include memos about investment decisions. Fidelity's holdings include not just common stock but also convertible bonds and Series A perpetual preferred shares issued by Strategy, suggesting a layered approach to exposure.
Strategy's unique position
Strategy occupies an unusual spot in public markets as both a software company and a Bitcoin treasury vehicle. The company has been steadily accumulating Bitcoin and raising capital through various financial instruments to fund those purchases. Its Q3 2026 earnings highlighted this model, with net income of around $19.53 billion driven primarily by unrealized gains on its Bitcoin holdings.
Unrealized is the operative word. Those gains exist on paper because Bitcoin's value moved, not because Strategy sold anything.
For Strategy, steady institutional demand is crucial beyond the share price. The company relies on raising capital through various instruments to continue purchasing Bitcoin. The latest filings show several large players willing to supply this capital, though investors should note that 13F data is backward-looking, reflecting holdings as of September 30.
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