As Michael Saylor-led Strategy (formerly MicroStrategy) accelerates its bitcoin purchases in the fourth quarter of 2024, institutional investment managers are also aggressively increasing their holdings of MSTR shares. Institutional investment managers managing at least $100 million in equity assets continued to add to their MSTR holdings in the fourth quarter, according to the latest 13F filing. Strategy now has about 1,400 institutional shareholders holding about $34 billion worth of MSTR shares, according to Fintel data. Vanguard, the world's second-largest asset manager, sold about 1.50 million MSTR shares between the third and fourth quarters, but remains the largest shareholder with a position of 16.3 million shares. Capital International Investors holds 12.5 million shares, followed by BlackRock with 11.2 million shares. Notably, institutions also held nearly $37 billion worth of MSTR options, doubling from the previous quarter. Susquehanna International Group held 16.8 million put options, followed by Citadel Advisors with 13.6 million put options. Meanwhile, Jane Street held 13.6 million call options, indicating a more optimistic market expectation. Strategy reported a net loss of $670.80 million in the fourth quarter, but as accounting policy changes allow unrealized bitcoin gains to be recognized, analysts believe the company is on track to be included in the S & P 500 later this year. MSTR shares are up about 11% this year and 370% over the past 12 months.