Fidelity more than doubled its stake in Strategy (MSTR) in Q3, filing shows

what happened

FMR, the parent of Fidelity, lifted its position in Strategy (MSTR) common stock by roughly 132% during the third quarter, Stocktwits reported. It held 1,022,050 Class A shares at the end of September, compared with 439,718 at the end of June. The data comes from a 13F filing with the SEC covering the period that ended on Tuesday.

Most of the added shares were bought by Strategic Advisers LLC, a unit that manages client portfolios and funds of funds. Its stake rose to 762,555 shares from 237,010, which accounts for about 90% of FMR's additions. Fidelity Management & Research Co., the group's largest fund manager, increased its holding to 246,657 shares from 192,923, while two smaller units made modest additions.

The position was worth about $156.5 million on September 30, up from $38.2 million in the June filing. Part of the jump came from new shares, and the rest reflected Strategy's sharp share price gain over the quarter. Holdings of Strategy's convertible notes across five series changed little, rising from $126.6 million to about $128.5 million. Fidelity also held 170,500 Series A shares of the 8% Strike preferred at quarter-end, up from 134,400, with most of that increase from a new 40,000-share position at Fidelity Institutional Asset Management Trust Co.

why it matters

For markets, the filing mainly signals institutional interest in Strategy, a company that holds large amounts of bitcoin on its balance sheet. 13F reports are snapshots taken at quarter-end and do not show trades made after September 30. Part of the rise in the stake's value reflects the share price move rather than fresh buying.

tags

instruments

on polymarket