GRNY ETF made MSTR its largest position ahead of 46% price surge

The Fundstrat Granny Shots US Large Cap ETF, better known as GRNY and managed by Tom Lee, significantly expanded its position in Strategy (MSTR) in August. This saw MSTR rise from the smallest to the largest position in the fund within two weeks. Shortly afterwards, the share price surged 46%. Bloomberg ETF analyst Eric Balchunas highlighted this notable moment via his analytics tool Blue Horseshoe.

In brief:

• GRNY significantly increased its MSTR position in mid-August, after which the share rose 46%
• As of 3 September, MSTR is the fund’s largest position at 3.02%
• Balchunas also points to the link between GRNY and Ethereum

From smallest to largest position in two weeks

In mid-August, the GRNY ETF decided to purchase a large package of Strategy shares. This caused MSTR to climb from the smallest position in the portfolio to the largest within two weeks.

Portfolio data shows that MSTR’s weight stood at 3.02% on 3 September, displacing Robinhood Markets from the top spot. Robinhood sits at 2.99% at the same time. The purchases therefore took place before MSTR rose by roughly 46%.

Balchunas spotted the move early

Eric Balchunas notes that his analytics tool Blue Horseshoe detected the substantial purchases early on. He states that GRNY’s timing proved favourable, given the strong share price rally that followed.

Balchunas also points to another striking detail: GRNY has a connection to Ethereum. Tom Lee, who manages the fund, is also chairman of BitMine, a company active in the crypto sector. Ethereum currently stands at $2.450, down 2.4% over the past 24 hours.

GRNY further invests in names such as Robinhood, Tesla, Nvidia, Palantir and Microsoft. The recent shift towards MSTR shows that the fund is willing to move quickly when a position appears sufficiently attractive.