NASDAQ · MSTR

Strategy Inc

Closing price · Nov 13, 2026 $111.62
Last insider buy · Jun 22, 2026 Paid by President & CEO, Director Phong Le in an open-market buy (Form 4). $90.80

Latest quarter · ended Sep 30, 2026

Sales slipped, but cash improved

descriptionFiled Nov 2, 2026
Revenue growthShrinking
−2.5%
Quarter ended Dec 31, 2024: −3.0% sales vs. a year beforeQuarter ended Mar 31, 2025: −3.6% sales vs. a year beforeQuarter ended Jun 30, 2025: +2.7% sales vs. a year beforeQuarter ended Sep 30, 2025: +10.9% sales vs. a year beforeQuarter ended Dec 31, 2025: +1.9% sales vs. a year beforeQuarter ended Mar 31, 2026: +11.9% sales vs. a year beforeQuarter ended Jun 30, 2026: +6.9% sales vs. a year beforeQuarter ended Sep 30, 2026: −2.5% sales vs. a year before
Dec '24Sep '26
$125M vs. $129M a year ago
Gross marginBetter
71.5%
Quarter ended Dec 31, 2024: 71.7% gross marginQuarter ended Mar 31, 2025: 69.4% gross marginQuarter ended Jun 30, 2025: 68.8% gross marginQuarter ended Sep 30, 2025: 70.5% gross marginQuarter ended Dec 31, 2025: 66.1% gross marginQuarter ended Mar 31, 2026: 67.1% gross marginQuarter ended Jun 30, 2026: 66.6% gross marginQuarter ended Sep 30, 2026: 71.5% gross margin
Dec '24Sep '26
vs. 70.5% a year ago
Cash from operationsBetter
$4.42M
Quarter ended Dec 31, 2024: −$17.3M cash from operationsQuarter ended Mar 31, 2025: −$2.39M cash from operationsQuarter ended Jun 30, 2025: −$34.9M cash from operationsQuarter ended Sep 30, 2025: −$8.31M cash from operationsQuarter ended Dec 31, 2025: −$21.6M cash from operationsQuarter ended Mar 31, 2026: $14M cash from operationsQuarter ended Jun 30, 2026: −$4.14M cash from operationsQuarter ended Sep 30, 2026: $4.42M cash from operations
Dec '24Sep '26
vs. −$8.31M a year ago

Numbers come from the company's own 10-Q and 10-K reports filed with the SEC. Each bar is one quarter, oldest on the left. The colored bar is the latest. Hover over or tap a bar to see its number.

Smart money pulse

What insiders and funds are doing

Selling Insiders: as of Nov 13 Funds: as of Jun 30, 2026
−1000+100 −53
  • account_balance
    42 funds bought, 48 sold in the quarter ended Jun 30, 2026, counting funds that hold 500 stocks or fewer and $1M+ of this one. Index funds and banks are left out.
  • info
    39 real insider sales in 12 months. $12.1M in total, not counting planned sales.

−100 means everyone selling, +100 everyone buying. This is data, not advice.

How the Pulse works

Pulse runs from −100 (everyone selling) to +100 (everyone buying). Half comes from insiders: real buyers vs. real sellers in the last 90 days (Form 4). Half comes from funds: funds that bought vs. funds that sold last quarter (13F). 13F is a snapshot of long positions on the last day of the quarter, filed up to 45 days later. It does not show short positions or trades since then.

Who owns it

862 funds report owning MSTR, down from 950

Holdings as of Jun 30, 2026
New114
Added324
Held191
Trimmed233
Sold out201

Last quarter

Who bought and who sold

Apr–Jun 2026

Change in shares held from Mar 31 to Jun 30, 2026, biggest holdings first. Only funds that hold 500 stocks or fewer and $1M+ of this one: index funds and banks own almost everything, so their changes say little. Bars stop at ±100%.

Insider trades · last 12 months

Real buys and sales

● Open-market buy● Open-market sale
CEOCFOOther officersDirectorsDecJanFebMarAprMayJunJulAugSepOctNovGift · Dec 19 · 1,800 shOption exercise · Dec 20 · 2,058 sh · 3 peopleOption exercise · Mar 11 · 2,071 shOption exercise · Mar 11 · 4,473 shOption exercise · Mar 11 · 787 shPlanned sale (10b5-1) · Mar 12 · $126KPlanned sale (10b5-1) · Mar 12 · $279KPlanned sale (10b5-1) · Mar 12 · $35.7KOption exercise · Mar 23 · 5,330 shOption exercise · Mar 23 · 7,320 shOption exercise · Mar 23 · 1,560 shPlanned sale (10b5-1) · Mar 24 · $328KPlanned sale (10b5-1) · Mar 24 · $456KPlanned sale (10b5-1) · Mar 24 · $65KOption exercise · Mar 26 · $13.1KOption exercise · Mar 30 · $13.1KOption exercise · Mar 31 · $13.1KOption exercise · Apr 1 · $13.1KOption exercise · Apr 7 · $13.1KOption exercise · Apr 8 · $26.1KOption exercise · Apr 9 · $35.4KOption exercise · Apr 13 · $63.4KOption exercise · Apr 20 · $28KOption exercise · Apr 21 · $9.32KOption exercise · Apr 22 · $37.3KOption exercise · Apr 30 · $32.6KOption exercise · May 1 · $42KOption exercise · May 4 · $37.3KOption exercise · May 8 · $18.6KOption exercise · May 11 · $51.3KOption exercise · May 14 · $28KOption exercise · May 18 · 12,500 shPlanned sale (10b5-1) · May 19 · $928KOption exercise · May 19 · $18.6KOption exercise · May 20 · $42KOption exercise · May 26 · $23.3KOption exercise · May 28 · $135KOption exercise · May 29 · $279KOption exercise · May 31 · 2,436 sh · 6 peopleOption exercise · Jun 3 · 68,120 shOption exercise · Jun 3 · 190,740 shPlanned sale (10b5-1) · Jun 5 · $3.93MPlanned sale (10b5-1) · Jun 5 · $11.1MOption exercise · Jun 8 · 4,260 shOption exercise · Jun 8 · 11,920 shOption exercise · Jun 8 · 1,140 shPlanned sale (10b5-1) · Jun 9 · $241KPlanned sale (10b5-1) · Jun 9 · $684KPlanned sale (10b5-1) · Jun 9 · $43.8KOption exercise · Jun 15 · $27.4KOption exercise · Jun 17 · $27.4KOption exercise · Jun 23 · $27.4KOption exercise · Jul 22 · $22.8KOption exercise · Jul 24 · $35.6KOption exercise · Jul 27 · $35.6KOption exercise · Aug 7 · $52.4KOption exercise · Aug 24 · $16.9KOption exercise · Aug 25 · $16.9KOption exercise · Aug 27 · $33.7KOption exercise · Sep 21 · $26KOption exercise · Sep 22 · $8.66KOption exercise · Oct 8 · $25.5KOption exercise · Oct 9 · $24.6KOption exercise · Nov 3 · $17.3KOption exercise · Nov 4 · $86.6KOpen-market buy · Jan 8 · $1.2KOpen-market buy · Jan 12 · $779KOpen-market buy · Jan 20 · $99.5KOpen-market buy · Mar 19 · $250KOpen-market sale · Mar 26 · $96.2KOpen-market sale · Mar 30 · $89.6KOpen-market sale · Mar 31 · $87.2KOpen-market sale · Apr 1 · $85.4KOpen-market sale · Apr 7 · $86.2KOpen-market sale · Apr 8 · $184KOpen-market sale · Apr 9 · $248KOpen-market sale · Apr 13 · $444KOpen-market sale · Apr 20 · $250KOpen-market sale · Apr 21 · $86KOpen-market sale · Apr 22 · $356KOpen-market sale · Apr 30 · $286KOpen-market sale · May 1 · $391KOpen-market sale · May 4 · $366KOpen-market sale · May 8 · $187KOpen-market sale · May 11 · $527KOpen-market sale · May 14 · $286KOpen-market sale · May 19 · $334KOpen-market sale · May 20 · $374KOpen-market buy · May 22 · $5.47KOpen-market sale · May 26 · $207KOpen-market sale · May 28 · $1.07MOpen-market sale · May 29 · $2.33MOpen-market sale · Jun 15 · $201KOpen-market buy · Jun 16 · $10KOpen-market sale · Jun 17 · $182KOpen-market buy · Jun 22 · $999KOpen-market sale · Jun 23 · $159KOpen-market sale · Jul 22 · $125KOpen-market sale · Jul 24 · $180KOpen-market sale · Jul 27 · $192KOpen-market sale · Aug 7 · $389KOpen-market sale · Aug 24 · $113KOpen-market sale · Aug 25 · $348KOpen-market sale · Aug 27 · $240KOpen-market sale · Sep 4 · $14.7KOpen-market sale · Sep 21 · $238KOpen-market sale · Sep 22 · $81.2KOpen-market sale · Oct 8 · $211KOpen-market sale · Oct 9 · $211KOpen-market sale · Nov 3 · $129KOpen-market sale · Nov 4 · $670K
CEOCFOOther officersDirectorsJunJulAugSepOctNovOption exercise · Jun 3 · 68,120 shOption exercise · Jun 3 · 190,740 shPlanned sale (10b5-1) · Jun 5 · $3.93MPlanned sale (10b5-1) · Jun 5 · $11.1MOption exercise · Jun 8 · 4,260 shOption exercise · Jun 8 · 11,920 shOption exercise · Jun 8 · 1,140 shPlanned sale (10b5-1) · Jun 9 · $241KPlanned sale (10b5-1) · Jun 9 · $684KPlanned sale (10b5-1) · Jun 9 · $43.8KOption exercise · Jun 15 · $27.4KOption exercise · Jun 17 · $27.4KOption exercise · Jun 23 · $27.4KOption exercise · Jul 22 · $22.8KOption exercise · Jul 24 · $35.6KOption exercise · Jul 27 · $35.6KOption exercise · Aug 7 · $52.4KOption exercise · Aug 24 · $16.9KOption exercise · Aug 25 · $16.9KOption exercise · Aug 27 · $33.7KOption exercise · Sep 21 · $26KOption exercise · Sep 22 · $8.66KOption exercise · Oct 8 · $25.5KOption exercise · Oct 9 · $24.6KOption exercise · Nov 3 · $17.3KOption exercise · Nov 4 · $86.6KOpen-market sale · Jun 15 · $201KOpen-market buy · Jun 16 · $10KOpen-market sale · Jun 17 · $182KOpen-market buy · Jun 22 · $999KOpen-market sale · Jun 23 · $159KOpen-market sale · Jul 22 · $125KOpen-market sale · Jul 24 · $180KOpen-market sale · Jul 27 · $192KOpen-market sale · Aug 7 · $389KOpen-market sale · Aug 24 · $113KOpen-market sale · Aug 25 · $348KOpen-market sale · Aug 27 · $240KOpen-market sale · Sep 4 · $14.7KOpen-market sale · Sep 21 · $238KOpen-market sale · Sep 22 · $81.2KOpen-market sale · Oct 8 · $211KOpen-market sale · Oct 9 · $211KOpen-market sale · Nov 3 · $129KOpen-market sale · Nov 4 · $670K

Last 6 months. A wider screen shows 12.

Showing 46 real trades. Hidden: 59 option exercises, 12 planned 10b5-1 sales, 1 gift. Those happen on a schedule and say little about what an insider thinks. Bigger dot means a bigger trade.

Real trades, newest first

Nov 4 Jarrod Patten Director Open-market sale $670K 4,750 sh at $141.00 Sold 14% of stake
Nov 3 Jarrod Patten Director Open-market sale $129K 950 sh at $136.04 Sold 3% of stake
Oct 9 Jarrod Patten Director Open-market sale $211K 1,350 sh at $156.16 Sold 5% of stake
Oct 8 Jarrod Patten Director Open-market sale $211K 1,400 sh at $151.01 Sold 5% of stake
Sep 22 Jarrod Patten Director Open-market sale $81.2K 475 sh at $171.00 Sold 2% of stake
Sep 21 Jarrod Patten Director Open-market sale $238K 1,425 sh at $167.33 Sold 5% of stake
Sep 4 Thomas Chow EVP & General Counsel Open-market sale $14.7K 106 sh at $138.75 Sold 100% of stake
Aug 27 Jarrod Patten Director Open-market sale $240K 1,850 sh at $130.00 Sold 6% of stake
Aug 25 Jarrod Patten Director Open-market sale $348K 2,775 sh at $125.33 Sold 9% of stake
Aug 24 Jarrod Patten Director Open-market sale $113K 925 sh at $122.34 Sold 3% of stake
Show 36 older real trades
Aug 7 Jarrod Patten Director Open-market sale $389K 3,800 sh at $102.41 Sold 12% of stake
Jul 27 Jarrod Patten Director Open-market sale $192K 1,950 sh at $98.48 Sold 6% of stake
Jul 24 Jarrod Patten Director Open-market sale $180K 1,950 sh at $92.46 Sold 6% of stake
Jul 22 Jarrod Patten Director Open-market sale $125K 1,250 sh at $100.00 Sold 4% of stake
Jun 23 Jarrod Patten Director Open-market sale $159K 1,500 sh at $106.08 Sold 5% of stake
Jun 22 Phong Le Past buys: 2 of 4 beat President & CEO, Director Open-market buy $999K 11,000 sh at $90.80
Jun 17 Jarrod Patten Director Open-market sale $182K 1,500 sh at $121.31 Sold 5% of stake
Jun 16 Thomas Chow EVP & General Counsel Open-market buy $10K 111 sh at $90.07
Jun 15 Jarrod Patten Director Open-market sale $201K 1,500 sh at $133.97 Sold 5% of stake
May 29 Jarrod Patten Director Open-market sale $2.33M 15,050 sh at $154.94 Sold 35% of stake
May 28 Jarrod Patten Director Open-market sale $1.07M 7,250 sh at $147.73 Sold 21% of stake
May 26 Jarrod Patten Director Open-market sale $207K 1,250 sh at $165.30 Sold 4% of stake
May 22 Phong Le Past buys: 2 of 4 beat President & CEO, Director Open-market buy $5.47K 55 sh at $99.41
May 20 Jarrod Patten Director Open-market sale $374K 2,250 sh at $166.37 Sold 7% of stake
May 19 Jarrod Patten Director Open-market sale $334K 2,000 sh at $166.88 Sold 7% of stake
May 14 Jarrod Patten Director Open-market sale $286K 1,500 sh at $190.85 Sold 5% of stake
May 11 Jarrod Patten Director Open-market sale $527K 2,750 sh at $191.60 Sold 9% of stake
May 8 Jarrod Patten Director Open-market sale $187K 1,000 sh at $186.69 Sold 3% of stake
May 4 Jarrod Patten Director Open-market sale $366K 2,000 sh at $183.25 Sold 7% of stake
May 1 Jarrod Patten Director Open-market sale $391K 2,250 sh at $173.84 Sold 7% of stake
Apr 30 Jarrod Patten Director Open-market sale $286K 1,750 sh at $163.18 Sold 6% of stake
Apr 22 Jarrod Patten Director Open-market sale $356K 2,000 sh at $178.16 Sold 7% of stake
Apr 21 Jarrod Patten Director Open-market sale $86K 500 sh at $172.00 Sold 2% of stake
Apr 20 Jarrod Patten Director Open-market sale $250K 1,500 sh at $166.95 Sold 5% of stake
Apr 13 Jarrod Patten Director Open-market sale $444K 3,400 sh at $130.65 Sold 11% of stake
Apr 9 Jarrod Patten Director Open-market sale $248K 1,900 sh at $130.59 Sold 6% of stake
Apr 8 Jarrod Patten Director Open-market sale $184K 1,400 sh at $131.77 Sold 5% of stake
Apr 7 Jarrod Patten Director Open-market sale $86.2K 700 sh at $123.11 Sold 2% of stake
Apr 1 Jarrod Patten Director Open-market sale $85.4K 700 sh at $122.01 Sold 2% of stake
Mar 31 Jarrod Patten Director Open-market sale $87.2K 700 sh at $124.64 Sold 2% of stake
Mar 30 Jarrod Patten Director Open-market sale $89.6K 700 sh at $128.04 Sold 2% of stake
Mar 26 Jarrod Patten Director Open-market sale $96.2K 700 sh at $137.37 Sold 2% of stake
Mar 19 Phong Le Past buys: 2 of 4 beat President & CEO, Director Open-market buy $250K 2,509 sh at $99.62
Jan 20 Jane Dietze Past buys: 1 of 3 beat Director Open-market buy $99.5K 1,000 sh at $99.49
Jan 12 Carl Rickertsen Past buys: 2 of 3 beat Director Open-market buy $779K 5,000 sh at $155.88
Jan 8 Phong Le Past buys: 2 of 4 beat President & CEO, Director Open-market buy $1.2K 12 sh at $99.99

"Past buys: 2 of 4 beat" means this insider bought stock in 4 earlier quarters, and in 2 of them what they bought did better than the typical stock over the next 6 months. A past record is data, not a forecast.

Showing every filing. Dashed circles are routine: grants, tax withholding, option exercises and planned sales.

Congress · last 12 months

Members of Congress who traded MSTR

All Congress trades
Gilbert Cisneros CA-31 Sale $50,001 – $100,000 Traded Oct 15, 2026 Reported Nov 10, 2026
Gilbert Cisneros CA-31 Purchase $15,001 – $50,000 Amended report Traded Jun 5, 2026 Reported Nov 10, 2026 · 158 days later
Gilbert Cisneros CA-31 Purchase $15,001 – $50,000 Traded Jun 5, 2026 Reported Jul 2, 2026

Amounts are the ranges members report, not exact amounts. Reports can come up to 45 days after the trade. From House and Senate STOCK Act reports. This is data, not advice.

Big bets

Funds with a big share of their money in MSTR

As of Jun 30, 2026

Funds that hold 150 stocks or fewer, where this stock is 3% or more of what they reported. "Of fund" is its share of the fund's 13F value.

Where this data comes from. Insider trades, fund holdings, activist stakes and company results come from public SEC EDGAR filings (Forms 4, 13F, 13D/13G, 10-Q and 8-K). Congress trades come from the STOCK Act reports members file with the House Clerk and the Senate. Daily closing prices come from post-no-preference/stocks on DoltHub, a community-run database shared under CC BY-SA 4.0; the prices we show stay under that license. They are each day's close, not live or official exchange prices.

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