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Wu said that the institutional holdings data disclosed by Strategy shows that several major global asset management firms hold its stock MSTR. Among them, Vanguard owns about 8.12%, with approximately 21.735 million shares, valued at about $3.183 billion; Capital Research & Management (International Investors) holds 7.70%, with about 20.615 million shares. BlackRock, State Street, Morgan Stanley, UBS, and other institutions are also among the major shareholders. The data indicates that many leading global asset management firms have indirectly allocated Bitcoin-related assets through stock holdings.