In the August 2026 quarter rebalancing, Large Cap ETF ( GRNY ), managed by Tom Lee and holding Fundstrat Granny Shots U .S., significantly increased its allocation to Strategy ( MSTR ). According to historical position data cited by Eric Balchunas, a Bloomberg ETF analyst, MSTR's stake in that fund rose to 3.02%, surpassing Robinhood to become the largest holding.
MSTR Weight Increased to 3.02%
Before this round of portfolio rebalancing, MSTR accounted for only about 0.45% to 0.50% in the GRNY portfolio. Over the past two weeks, this proportion has been significantly increased, ultimately rising to 3.02%. Robinhood currently has a weight of 2.99%, thus being surpassed by MSTR.
Tom Lee indicates that during this quarter's portfolio rebalancing, the large-cap stock portfolio added 6 new stocks and removed 7; the mid- and small-cap stock portfolio added 8 new stocks and removed 7. After the rebalancing, the total assets managed by the Granny Shots series increased to 5.1 billion US dollars, of which the flagship product GRNY has a size of approximately 4.489 billion US dollars.
The basis for portfolio rebalancing comes from an established stock selection framework.
GRNY adopts a standardized stock selection method, combined with the macro research and quantitative screening of Fundstrat. According to its framework, a company needs to meet at least two of seven investment themes in order to have a chance of being included in the portfolio. The fund will re-evaluate and rebalance its holdings every quarter.
The report mentions that MSTR possesses characteristics such as a Bitcoin exposure, technological attributes, and a sensitivity to changes in the financial environment, thus aligning with the current investment strategy of the fund. Tom Lee also indicates that this adjustment reflects a tilt towards positive “high-quality growth” and “high-quality cycles” within the portfolio, which is consistent with the current interest rate environment, tactical considerations, and seasonal assessments.
However, this does not mean that GRNY has announced a separate plan to continue increasing its holdings of MSTR over the long term. The fund's subsequent holdings may still be adjusted during the next quarterly portfolio rebalancing.
MSTR has seen a higher increase in value than Bitcoin in recent months
After the position adjustment, the stock price performance of MSTR was significantly stronger than that of Bitcoin. Reports show that in the past month, Bitcoin has risen by about 26%, while MSTR has risen by 46%. Since Strategy holds a large amount of Bitcoin, the market generally regards MSTR as a stock exposure that magnifies Bitcoin price fluctuations.
From the results, it can be seen that after GRNY increased the weight of MSTR in this round of portfolio rebalancing, this stock happened to experience a strong upward trend, which also made it the focus of market attention.
