Wells Fargo increases Strategy position by 150% to $185M

Wells Fargo has quietly made one of the more telling institutional moves of the quarter. The bank’s Q1 2026 13F filing shows it more than doubled its position in Strategy Inc., the company formerly known as MicroStrategy and Wall Street’s most prominent proxy for corporate Bitcoin exposure. The filing puts Wells Fargo’s total stake at roughly 726,000 shares, up from approximately 323,000 shares the prior quarter. At current valuations, the position is estimated at around $185 million. What the filing actually shows A 13F is a quarterly disclosure that institutional investment managers with over $100M in assets under management must file with the SEC. Think of it as a window into what the big players were holding at the end of a quarter, a snapshot rather than a live feed. Wells Fargo’s window shows a firm that got considerably more comfortable with Strategy exposure over the first three months of 2026. The share count jumped by more than 400,000 units. Strategy Inc. trades under the ticker MSTR and has, since 2020, operated less like a traditional software company and more like a publicly listed Bitcoin holding vehicle. The firm holds over 815,000 BTC in its corporate treasury, mak...