Strategy Inc

MSTRRank #106 of 316

Reference Jun 30, 2026 close implied by Form 13F filings

Circulating market cap

$31.69B

Upper bound: lock-ups and restricted stock not reviewed yet.

Traditional market cap: $33.40B
Fully diluted value: n/a
Free float market cap: -
Gap to traditional: $1.71B (5.1%)

Circulating supply364.59M / 384.23M

Free float
Locked team
Other restricted

Circulating: 364.59M · 94.9%
Free float: -
Locked team: n/r
Other restricted: 19.64M · 5.1%
Total outstanding: 384,225,751

Lock-ups and restricted stock for this company have not been reviewed yet. Only unlisted share classes are excluded, so circulating supply is an upper bound.

Supply breakdown

Shares as of Jul 24, 2026

Circulating94.9%364.59M shares

Category	Shares	%	Value	Status
Circulating	364.59M	94.9%	$31.69B	Estimated
Free float	-	-	-	Unavailable
Insider-held, unrestricted	-	-	-	Unavailable
Locked team funds	-	-	-	Unavailable
Other restricted (unlisted classes only)	19.64M	5.1%	$1.71B	Verified
Total outstanding	384.23M	100.0%	$33.40B	Verified
Ownership views (overlap the categories above, never added)
Institutional holdings (13F)	209.46M	54.5%	$18.21B	Estimated
Insider-held, all (Forms 3, 4, 5)	-	-	-	Unavailable

Institutional and insider holdings can include both tradable and locked shares, so they are shown for reference and never added to the total. Check: no class has more shares deducted than it has outstanding, and the review found no shares that may be counted twice: reconciles.

Valuation

Traditional$33.40B
Fully diluted-
Circulating$31.69B
Free float-
Locked team value$0
Other restricted value$1.71B

Locked and restricted shares

1 item

Class B (not listed on any exchange)

19,640,250 shares

5.1% of total · $1.71B

Class B shares are not listed on any exchange and cannot be traded as they are. A holder must first convert them into Class A shares, which can then be sold. FloatCap counts them outside circulating supply until converted.

Verified10-Q, Cover page: shares outstanding by class; the class has no trading symbolApplied automatically to every unlisted class.

Institutional holders

13F, quarter ended Jun 30, 2026

Holder	Shares	% of total
Capital International Investors	34.90M	9.08%
BlackRock, Inc.	19.39M	5.05%
VANGUARD PORTFOLIO MANAGEMENT LLC	15.35M	4.00%
VANGUARD CAPITAL MANAGEMENT LLC	14.94M	3.89%
Invesco Ltd.	9.34M	2.43%
MORGAN STANLEY	9.33M	2.43%
STATE STREET CORP	7.53M	1.96%
GOLDMAN SACHS GROUP INC	5.81M	1.51%
UBS Group AG	4.94M	1.29%
GEODE CAPITAL MANAGEMENT, LLC	4.61M	1.20%

Sum of long share positions in Form 13F reports for the quarter. 13F covers managers with over $100M in US equities; some positions are reported by more than one filer.

Insiders

Forms 3, 4 and 5

Form 4 aggregation pending

Share classes

Class	Listing	Shares outstanding	As of
Class A	MSTR on Nasdaq	364,585,501	Jul 24, 2026
Class B	Not listed (valued at MSTR)	19,640,250	Jul 24, 2026

Notes and sources

Strategy Inc 10-Q for period ended 2026-06-30, Cover page (0001050446-26-000044)
Strategy Inc 10-Q for period ended 2026-06-30, Cover page: shares outstanding by class; the class has no trading symbol (0001050446-26-000044)
SEC public float (non-affiliates): $105.45B as of Jun 30, 2025, from the 10-K cover. It is a dollar value at a past date, not circulating supply.