Susquehanna, Invesco, and Wells Fargo have all raised their stakes in Strategy Inc. during the first quarter of 2026, part of a broader wave of institutional buying worth roughly $4.6 billion in the Bitcoin-holding company. Strategy's treasury has grown to 843,775 BTC, the largest of any public company.
Susquehanna International Group has roughly doubled its equity stake in Strategy Inc. to $232 million, joining Invesco and Wells Fargo in expanding bets on Michael Saylor's Bitcoin-holding company during the first quarter of 2026.
A $4.6 billion wave
SIG's 13F filing, dated May 15, 2026, disclosed 1,282,636 shares of Strategy Inc. valued at approximately $160 million as of March 31. The current $232 million valuation reflects either additional purchases since the filing cutoff, price appreciation, or both.
SIG isn't acting alone, though: institutional investors collectively boosted their MSTR positions by roughly $4.6 billion during the first quarter of 2026, a 27% jump based on aggregated 13F data. SIG hasn't disclosed why it doubled its position, which is standard practice for quantitative firms that guard their trading models closely.
Invesco adds 42%, Wells Fargo more than doubles down
Invesco, one of the world's largest independent asset managers, boosted its stake in Strategy by 42% to roughly $862 million. The asset manager held 8.72 million shares as of March 31, 2026, or approximately 2.39% of the company. Invesco has not issued any public commentary on the rationale behind the increased allocation.
Wells Fargo made a similar move. The bank's Q1 2026 13F filing shows its stake rose to roughly 726,000 shares, up from approximately 323,000 shares the prior quarter, a position now estimated at around $185 million. Not every institution moved the same direction, though: some firms trimmed stakes in companies like Galaxy Digital even as Wells Fargo leaned further into Strategy.
Strategy's Bitcoin treasury keeps growing
Strategy held 818,334 BTC as of early May 2026, a figure that climbed to 843,775 BTC in its most recent Q2 earnings report — by a wide margin the largest Bitcoin treasury among public companies. That stockpile represents roughly 4% of Bitcoin's total circulating supply, funded through a mix of equity issuance, convertible debt, and operating cash flow.
Saylor's company has leaned hard on that playbook before: in December 2025 it sold $748 million worth of common stock in a single week to bolster reserves while holding onto its Bitcoin.
Some institutions choose direct spot Bitcoin ETF exposure instead, while others prefer the equity route through companies like Strategy, whose stock continues to track Bitcoin's price swings with amplified volatility.
Sources: Crypto Briefing, Crypto Briefing, Crypto Briefing
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