Key Takeaways
- • Gulf International Bank (UK) held 19,842 Strategy shares at the end of September 2026, unchanged from the prior quarter, according to an SEC Form 13F filing.
- • The stake was valued at approximately $3.04 million at quarter-end and an estimated $2.9 million currently. These figures reflect Strategy equity, not Bitcoin held directly by the bank.
- • The position was first reported in Q2 2024 as 1,285 MicroStrategy shares, reached 20,207 shares after a roughly 53% increase in Q1 2026, and was reduced to 19,842 after a 365-share sale in Q2 2026.
- • Strategy, where Michael Saylor serves as Executive Chairman, reported cryptocurrency holdings of 848,517 BTC following its latest purchase, announced October 19, 2026.
Summary
Gulf International Bank (UK), a London-based institution backed by the Saudi government, held 19,842 Strategy shares at the end of September 2026, according to a US Securities and Exchange Commission (SEC) Form 13F filing reported by The Cryptonomist. The bank kept its share count unchanged during the third quarter, retaining indirect exposure to Bitcoin rather than buying the cryptocurrency itself. The stake was valued at approximately $3.04 million at quarter-end and was estimated at around $2.9 million at the time of reporting. The source notes that these figures describe the value of the Strategy shares, not Bitcoin held directly by the bank. The government connection runs through Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF).
The bank first reported a Strategy holding in the second quarter of 2024, when it owned 1,285 MicroStrategy shares valued at approximately $1.77 million. Following Strategy's 10-for-1 stock split in August 2024, that count would equal 12,850 shares. By June 2025, the bank held 12,774 shares worth about $5.16 million, the highest quarter-end valuation it has reported for the position. At the end of 2025, the holding stood at 13,249 shares, valued at approximately $2.01 million.
The bank expanded the position sharply in the first quarter of 2026, adding 6,958 shares to reach 20,207, an increase of about 53%. It sold 365 shares in the second quarter, leaving 19,842 shares valued at approximately $1.72 million at the end of June. The third-quarter filing records no further change in the share count.
The investment therefore remains an equity exposure to Strategy, the world's largest corporate Bitcoin holder, rather than a direct cryptocurrency position. Strategy's cryptocurrency holdings totaled 848,517 BTC following its latest purchase, reported on October 19, 2026. Michael Saylor serves as the company's Executive Chairman.
The bank first reported a Strategy holding in the second quarter of 2024, when it owned 1,285 MicroStrategy shares valued at approximately $1.77 million. Following Strategy's 10-for-1 stock split in August 2024, that count would equal 12,850 shares. By June 2025, the bank held 12,774 shares worth about $5.16 million, the highest quarter-end valuation it has reported for the position. At the end of 2025, the holding stood at 13,249 shares, valued at approximately $2.01 million.
The bank expanded the position sharply in the first quarter of 2026, adding 6,958 shares to reach 20,207, an increase of about 53%. It sold 365 shares in the second quarter, leaving 19,842 shares valued at approximately $1.72 million at the end of June. The third-quarter filing records no further change in the share count.
The investment therefore remains an equity exposure to Strategy, the world's largest corporate Bitcoin holder, rather than a direct cryptocurrency position. Strategy's cryptocurrency holdings totaled 848,517 BTC following its latest purchase, reported on October 19, 2026. Michael Saylor serves as the company's Executive Chairman.
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