Saudi Government-Owned Bank Discloses $2.27 Million Stake in Strategy

Gulf International Bank (UK) trimmed its position by 365 shares in the second quarter but retains a clear holding in the world’s largest corporate bitcoin treasury company.

Gulf International Bank (UK) Ltd, the London-based subsidiary of the Saudi government-majority-owned Gulf International Bank, has disclosed a holding of 19,842 shares in Strategy (MSTR). At current valuations the stake is worth approximately $2.27 million.

The position appears in the bank’s latest 13F filing covering the second quarter of 2026. It represents a modest reduction from the 20,207 shares reported in the previous period, when the stake was valued at roughly $3.76 million following a 53% increase. The bank sold 365 shares during the quarter but kept the bulk of its exposure. The small sale is likely just a routine rebalancing of the portfolio rather than a meaningful shift in conviction.

Gulf International Bank itself is controlled by Saudi Arabia’s Public Investment Fund, which owns more than 97% of the parent company. The UK subsidiary’s disclosure therefore places a Saudi state-linked institution among the shareholders of a pure-play bitcoin treasury company.

Institutional Interest in Bitcoin Proxies Continues

The holding is small relative to the bank’s overall multi-billion-dollar equity portfolio, which is dominated by large-cap technology names. Yet it fits a broader pattern of traditional financial institutions and government-linked entities quietly accumulating shares in bitcoin treasury companies rather than, or in addition to, direct bitcoin or spot ETF exposure.

Whether Gulf International Bank adds to, maintains, or further trims the position will become clear in its next 13F, due in mid-November.