Strategy Inc details ATM sales and bitcoin holdings

Strategy Inc reported activity in its at-the-market offering, repurchase programs, bitcoin holdings and USD reserve for July 20–26, 2026.

Rhea-AI Filing Summary

Strategy Inc reported activity in its at-the-market offering, repurchase programs, bitcoin holdings and USD reserve for July 20–26, 2026. Under its ATM, it sold 5,429,160 shares of Class A common stock (MSTR), generating $544.5 million in net proceeds. As of July 26, 2026, $22,981.4 million of MSTR capacity (in millions) remained available for issuance and sale under the combined current offering and the previously announced $21.0 billion MSTR Increase.

In its preferred share repurchase program, Strategy repurchased 288,930 shares of STRC for an aggregate $25.0 million during the period, while other preferred series and common stock saw no repurchases. Remaining repurchase capacity totaled $975.0 million for preferred stock and $1.0 billion for Class A common stock.

Strategy also confirmed bitcoin holdings of 843,775 BTC with an aggregate purchase price of $63.69 billion and an average purchase price of $75,476 per bitcoin, inclusive of fees and expenses, with no bitcoin purchases that week. As of July 26, 2026, the USD Reserve stood at $3.75 billion, including expected cash proceeds from unsettled ATM share sales. Strategy highlighted its website dashboard as a channel for ongoing disclosure of security prices, bitcoin activity and key metrics.

8-K Event Classification

2 items: 7.01, 8.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

MSTR shares sold under ATM: 5,429,160 shares ATM net proceeds: $544.5 million ATM remaining MSTR capacity: $22,981.4 million +5 more

8 metrics

MSTR shares sold under ATM 5,429,160 shares Class A common stock sold during July 20–26, 2026 under at-the-market offering

ATM net proceeds $544.5 million Net proceeds from MSTR stock sold during July 20–26, 2026

ATM remaining MSTR capacity $22,981.4 million MSTR Stock available for issuance and sale (in millions) as of July 26, 2026

STRC shares repurchased 288,930 shares Variable Rate Series A Perpetual Stretch Preferred Stock repurchased July 20–26, 2026

STRC repurchase amount $25.0 million Aggregate purchase price for STRC repurchases during July 20–26, 2026

Bitcoin holdings 843,775 BTC Aggregate BTC holdings as of July 26, 2026

Aggregate BTC purchase price $63.69 billion Total cost basis for BTC holdings inclusive of fees and expenses

USD Reserve balance $3.75 billion US dollar reserve balance as of July 26, 2026

Key Terms

at-the-market offering program, share repurchase program, Aggregate Purchase Price, USD Reserve, +1 more

5 terms

at-the-market offering program financial

"sales made under its at-the-market offering program ("ATM") of the following securities"

An at-the-market offering program lets a company sell newly issued shares directly into the open market at current trading prices through a broker, rather than issuing a large block of stock all at once. It matters to investors because it provides the company a flexible way to raise cash over time, which can dilute existing shares gradually and affect earnings per share and stock price depending on how much and when shares are sold—think of it as a faucet the company can open or close to add supply to the market.

share repurchase program financial

"announced an update with respect to its share repurchase program of the following securities"

A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.

Aggregate Purchase Price financial

"Shares Repurchased | | Aggregate Purchase Price (in millions)"

The aggregate purchase price is the total amount a buyer pays to acquire a company, assets or securities, including the headline payment plus any assumed debt, fees, taxes and contractually required adjustments. It matters to investors because it shows the true cost of a deal and how much value must be realized after the sale — like knowing the full price of a house once you add closing costs, repairs and outstanding mortgage obligations.

USD Reserve financial

"Strategy maintains a US dollar reserve (the "USD Reserve") intended to support the payment of dividends"

USD reserve means holdings of U.S. dollars that an organization—such as a government, central bank, company or investment fund—keeps set aside to meet obligations, support operations, or manage currency exposure. Investors care because the size and liquidity of those dollar reserves affect an entity’s ability to pay debts, weather shocks, and pursue opportunities; think of it like a rainy-day fund or foreign-currency piggy bank that provides stability and flexibility.

Regulation FD regulatory

"one means of disclosing non-public information in compliance with its disclosure obligations under Regulation FD"

Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ATM stock sales did Strategy Inc (MSTR) report for July 20–26, 2026?

Strategy Inc sold 5,429,160 MSTR shares through its at-the-market program during July 20–26, 2026, generating $544.5 million in net proceeds. As of July 26, 2026, $22,981.4 million of MSTR capacity (in millions) remained available for issuance and sale.

What did Strategy Inc (MSTR) disclose about its share repurchase activity?

Strategy repurchased 288,930 shares of STRC preferred stock for an aggregate $25.0 million during July 20–26, 2026. No other preferred series or Class A common shares were repurchased. Remaining repurchase capacity was $975.0 million for preferred stock and $1.0 billion for common stock.

How many bitcoin does Strategy Inc (MSTR) hold and at what cost?

Strategy reported holding 843,775 BTC as of July 26, 2026, with an aggregate purchase price of $63.69 billion and an average purchase price of $75,476 per bitcoin, inclusive of fees and expenses. No bitcoin purchases were made during the July 20–26, 2026 period.

What is Strategy Inc’s (MSTR) USD Reserve balance and purpose?

As of July 26, 2026, Strategy’s USD Reserve totaled $3.75 billion. This reserve is intended to support payment of dividends on preferred stock and interest on outstanding indebtedness, and includes expected cash proceeds from ATM share sales that had not yet settled at that date.

What is the $21.0 billion MSTR Increase mentioned by Strategy Inc (MSTR)?

On March 23, 2026, Strategy announced a new $21.0 billion offering of MSTR Stock known as the MSTR Increase. The MSTR amount available for issuance under the ATM reflects the combined remaining capacity of the existing offering and this MSTR Increase program.

How does Strategy Inc (MSTR) use its website dashboard for disclosure?

Strategy maintains a dashboard on www.strategy.com as a broad, non-exclusionary disclosure channel. It provides market prices of its securities, bitcoin purchases and holdings, key performance indicators and other supplemental information, and serves as one means of complying with Regulation FD.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 27, 2026

STRATEGY INC

(Exact name of registrant as specified in its charter)

Delaware		001-42509		51-0323571
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

1850 Towers Crescent Plaza Tysons Corner, Virginia		22182
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (703) 848-8600

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of Each Exchange on which Registered
10.00% Series A Perpetual Strife Preferred Stock, $0.001 par value per share		STRF		The Nasdaq Global Select Market
Variable Rate Series A Perpetual Stretch Preferred Stock, $0.001 par value per share		STRC		The Nasdaq Global Select Market
8.00% Series A Perpetual Strike Preferred Stock, $0.001 par value per share		STRK		The Nasdaq Global Select Market
10.00% Series A Perpetual Stride Preferred Stock, $0.001 par value per share		STRD		The Nasdaq Global Select Market
Class A common stock, $0.001 par value per share		MSTR		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

ATM Update

On July 27, 2026, Strategy Inc ("Strategy") announced an update with respect to sales made under its at-the-market offering program ("ATM") of the following securities:

		During Period July 20, 2026 to July 26, 2026									As of July 26, 2026
Security		Shares Sold(1)			Notional Value (in millions) (2)			Net Proceeds (in millions) (3)			Available for Issuance and Sale (in millions)(4)
STRF Stock			-		$	-		$	-		$	1,619.3
10.00% Series A Perpetual Strife Preferred Stock
STRC Stock			-		$	-		$	-		$	17,510.8
Variable Rate Series A Perpetual Stretch Preferred Stock
STRK Stock			-		$	-		$	-		$	2,100.0
8.00% Series A Perpetual Strike Preferred Stock
STRD Stock			-		$	-		$	-		$	4,014.8
10.00% Series A Perpetual Stride Preferred Stock
MSTR Stock			5,429,160		$	-		$	544.5		$	22,981.4
Class A Common Stock
Total								$	544.5

(1) Includes shares sold but not yet settled as of July 24, 2026.

(2) The total face value of the shares of preferred stock sold, which is used to calculate dividends thereon.

(3) Net proceeds are presented net of sales commission.

(4) As previously disclosed, on March 23, 2026, Strategy announced a new $21.0 billion offering of MSTR Stock (the “MSTR Increase”). The MSTR Stock amount available for issuance reflects the aggregate remaining capacity of both the current offering and the MSTR Increase. Sales under the MSTR Increase may begin once capacity under the existing offering is substantially depleted.

Repurchase Program Updates

On July 27, 2026, Strategy announced an update with respect to its share repurchase program of the following securities:

		During Period July 20, 2026 to July 26, 2026
Security		Shares Repurchased			Aggregate Purchase Price (in millions)
STRF Stock(1)			-		$	-
10.00% Series A Perpetual Strife Preferred Stock
STRC Stock(1)			288,930		$	25.0
Variable Rate Series A Perpetual Stretch Preferred Stock
STRK Stock(1)			-		$	-
8.00% Series A Perpetual Strike Preferred Stock
STRD Stock(1)			-		$	-
10.00% Series A Perpetual Stride Preferred Stock
MSTR Stock(2)			-		$	-
Class A Common Stock
Total
			288,930		$	25.0

(1) $975.0 million aggregate purchase price of Strategy’s preferred stock remains available under the Digital Credit Securities Repurchase Program previously announced on June 29, 2026.

(2) $1.0 billion aggregate purchase price of Strategy’s class A common stock remains available under the MSTR Repurchase Program previously announced on June 29, 2026.

BTC Update

On July 27, 2026, Strategy announced updates with respect to its bitcoin holdings:

During Period July 20, 2026 to July 26, 2026				As of July 26, 2026
BTC Acquired (1)	Aggregate Purchase Price (in millions) (2)	Average Purchase Price (2)		Aggregate BTC Holdings	Aggregate Purchase Price (in billions) (2)	Average Purchase Price (2)
-	$-	$-		843,775	$63.69	$75,476

(1) No bitcoin purchases were made this week.

(2) Aggregate and average purchase prices are inclusive of fees and expenses.

USD Reserve Update

Strategy maintains a US dollar reserve (the "USD Reserve") intended to support the payment of dividends on Strategy’s preferred stock and interest on its outstanding indebtedness.

As of July 26, 2026, the balance of the USD Reserve is $3.75 billion. This amount includes expected cash proceeds from shares sold under Strategy’s ATM that had not yet settled as of such date.

Item 7.01 Regulation FD Disclosure.

Strategy Dashboard

Strategy also maintains a dashboard on its website (www.strategy.com) as a disclosure channel for providing broad, non-exclusionary distribution of information regarding Strategy to the public, including information regarding market prices of its outstanding securities, bitcoin purchases and holdings, certain key performance indicator metrics and other supplemental information, and as one means of disclosing non-public information in compliance with its disclosure obligations under Regulation FD. Investors and others are encouraged to regularly review the information that Strategy makes public via the website dashboard.

Furnished Information

The information disclosed pursuant to Item 7.01 in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 27, 2026				Strategy Inc (Registrant)
				By:		/s/ Thomas C. Chow
				Name:		Thomas C. Chow
				Title:		Executive Vice President & General Counsel

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