Key Takeaways
- • Gulf International Bank (UK), a Saudi Arabia-backed institution based in London, held 19,842 shares of Strategy at the end of September 2026, according to its SEC Form 13F filing.
- • The position was worth about $3.04 million at the end of the third quarter, and roughly $2.9 million at current market estimates.
- • The bank did not change its Strategy holding in the third quarter, following a sale of 365 shares in the second quarter.
- • The exposure is indirect: Gulf International Bank holds Strategy equity rather than bitcoin itself, and the bank is linked to the Public Investment Fund, which owns 97.2% of it.
Summary
Gulf International Bank (UK), a London-based institution backed by the Saudi government, reported holding 19,842 shares of Strategy at the end of September, according to a U.S. Securities and Exchange Commission Form 13F filing cited by Cryptonews.net. The position was worth about $3.04 million as of the third quarter and is estimated at around $2.9 million at current market prices.
The bank's Strategy exposure has been volatile over the past two years. It first reported a holding in the second quarter of 2024, when it held 1,285 shares of MicroStrategy worth about $1.77 million; that figure equates to 12,850 shares after MicroStrategy's 10-for-1 stock split in August 2024. The holding peaked at 12,774 shares worth about $5.16 million at the end of June 2025, the highest quarter-end valuation the bank has reported to date. By year-end 2025 it held 13,249 shares worth about $2.01 million. In the first quarter of 2026 the bank added 6,958 shares, lifting its total to 20,207, an increase of about 53%. In the second quarter it sold 365 shares, leaving 19,842 shares worth about $1.72 million at the end of June. The recent filing shows no change in share count for the third quarter.
The bank is closely tied to the Saudi state. The Public Investment Fund, the kingdom's sovereign wealth fund, owns 97.2% of Gulf International Bank, according to the report. The article characterizes the position as indirect bitcoin exposure, since the bank holds equity in Strategy rather than the cryptocurrency directly. Strategy, led by Executive Chairman Michael Saylor, is the world's largest corporate bitcoin holder, with holdings of 848,517 BTC following its latest purchase reported on October 19.
The bank's Strategy exposure has been volatile over the past two years. It first reported a holding in the second quarter of 2024, when it held 1,285 shares of MicroStrategy worth about $1.77 million; that figure equates to 12,850 shares after MicroStrategy's 10-for-1 stock split in August 2024. The holding peaked at 12,774 shares worth about $5.16 million at the end of June 2025, the highest quarter-end valuation the bank has reported to date. By year-end 2025 it held 13,249 shares worth about $2.01 million. In the first quarter of 2026 the bank added 6,958 shares, lifting its total to 20,207, an increase of about 53%. In the second quarter it sold 365 shares, leaving 19,842 shares worth about $1.72 million at the end of June. The recent filing shows no change in share count for the third quarter.
The bank is closely tied to the Saudi state. The Public Investment Fund, the kingdom's sovereign wealth fund, owns 97.2% of Gulf International Bank, according to the report. The article characterizes the position as indirect bitcoin exposure, since the bank holds equity in Strategy rather than the cryptocurrency directly. Strategy, led by Executive Chairman Michael Saylor, is the world's largest corporate bitcoin holder, with holdings of 848,517 BTC following its latest purchase reported on October 19.
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