# PrefWatch

> PrefWatch (https://prefwatch.com) is a free, independent tracker for preferred stocks issued by digital asset treasury companies (Strategy/MSTR, Strive/ASST, BitMine/BMNR): dividend rates, payment frequency, payment dates, prices, effective yields and dividend coverage by each issuer's BTC/ETH treasury. Tagline: "The yield side of crypto treasuries." Official X: https://x.com/PrefWatch (@PrefWatch). Not investment advice.

Build: 2026-10-14T05:39:18Z. Prices as of 2026-10-14 05:39 UTC (delayed). Terms as of 2026-10-13. Crypto: BTC $83,593, ETH $2,507.83.

## Preferreds
- STRC (Strategy (MSTR), BTC-backed): 12.00% Variable, rate reset monthly; pays Semi-monthly; par/stated $100; cumulative: Yes; last price: $99.90; effective yield: 12.01%; next payment $0.50/sh on 2026-10-15 (record 2026-09-30, ex 2026-09-30; declared); next ex-date 2026-10-15 for $0.50 paid 2026-10-31 (declared); tax character: unknown (issuer guidance: Expected return of capital (to the extent of tax basis) for the Oct 31 and, if payable, Nov 15 dividends). Source: https://www.sec.gov/Archives/edgar/data/1050446/000119312526409863/mstr-20260930.htm
- STRF (Strategy (MSTR), BTC-backed): 10.00% Fixed; pays Quarterly; par/stated $100; cumulative: Yes; last price: $103.45; effective yield: 9.67%; next payment $2.50/sh on 2026-12-31 (record 2026-12-15, ex 2026-12-15; expected); tax character: unknown (issuer guidance: Expected return of capital for the Sep 30, 2026 dividends). Source: https://www.sec.gov/Archives/edgar/data/1050446/000105044626000044/mstr-20260630.htm
- STRK (Strategy (MSTR), BTC-backed): 8.00% Fixed; pays Quarterly; par/stated $100; cumulative: Yes; last price: $75.60; effective yield: 10.58%; conversion 0.1 MSTR per share, parity $15.22; next payment $2.00/sh on 2026-12-31 (record 2026-12-15, ex 2026-12-15; expected); tax character: unknown (issuer guidance: Expected return of capital for the Sep 30, 2026 dividends). Source: https://www.sec.gov/Archives/edgar/data/1050446/000105044626000044/mstr-20260630.htm
- STRD (Strategy (MSTR), BTC-backed): 10.00% Fixed; pays Quarterly; par/stated $100; cumulative: No; last price: $73.27; effective yield: 13.65%; next payment $2.50/sh on 2026-12-31 (record 2026-12-15, ex 2026-12-15; expected); tax character: unknown (issuer guidance: Expected return of capital for the Sep 30, 2026 dividends). Source: https://www.sec.gov/Archives/edgar/data/1050446/000105044626000044/mstr-20260630.htm
- STRE (Strategy (MSTR), BTC-backed): 10.00% Fixed (EUR); pays Quarterly; par/stated €100; cumulative: Yes; last price: not tracked: no US quote (listed on Luxembourg Stock Exchange); effective yield: —; next payment €2.50/sh on 2026-12-31 (record 2026-12-15, ex unknown; expected); tax character: unknown (issuer guidance: Expected return of capital for the Sep 30, 2026 dividends). Source: https://www.sec.gov/Archives/edgar/data/1050446/000105044626000044/mstr-20260630.htm
- SATA (Strive (ASST), BTC-backed): 13.00% Variable, rate reset monthly; pays Every business day; par/stated $100; cumulative: Yes; last price: $98.79; effective yield: 13.16%; next payment $0.0516/sh on 2026-10-14 (record 2026-10-13, ex 2026-10-13; declared); next ex-date 2026-10-14 for $0.0516 paid 2026-10-15 (declared); tax character: unknown (issuer guidance: Treated generally as tax-deferred recovery of capital; Strive says it has no accumulated E&P and expects none in the current year). Source: https://www.sec.gov/Archives/edgar/data/1920406/000162828026065594/asst-20261012.htm
- BMNP (BitMine (BMNR), ETH-backed): 9.50% Fixed; pays Weekly (Fri); par/stated $100; cumulative: Yes; last price: $99.25; effective yield: 9.57%; next payment $0.1847/sh on 2026-10-16 (record 2026-10-06, ex 2026-10-06; declared); next ex-date 2026-10-20 for $0.1847 paid 2026-10-30 (declared); tax character: unknown (issuer guidance: No issuer tax-character guidance found). Source: https://www.sec.gov/Archives/edgar/data/1829311/000149315226038012/ex99-1.htm
- SATS (Strive (ASST), BTC-backed): 15.00% Fixed; pays Every business day; par/stated $100; cumulative: Yes; last price: no quote (not trading); effective yield: —; next payment TBD/sh on 2026-11-09 (record 2026-11-06, ex 2026-11-06; contingent; contingent: Offering must close and the board must declare. 424B5 says Strive anticipates declaring the first dividend payable Nov 9, 2026, including all accrued dividends from closing; the per-share amount is left blank in the prospectus.); tax character: unknown (issuer guidance: No issuer tax-character guidance found); status: Announced — IPO to select investors, not yet trading. Source: https://www.sec.gov/Archives/edgar/data/1920406/000095010326015525/dp254910_424b5.htm

## Links
- [Main tracker](https://prefwatch.com/): preferreds table, dividend coverage, portfolio income modeler, X feeds
- [Machine-readable data](https://prefwatch.com/data.json): all terms, prices, holdings, coverage inputs, dividend events and rate history (JSON, schema_version 2.0)
- [Dividend calendar JSON](https://prefwatch.com/calendar.json): upcoming ex/record/pay events with per-share amounts and status (declared / contingent / expected)
- [Dividend calendar ICS](https://prefwatch.com/calendar.ics): subscribe in any calendar app
- [Changelog](https://prefwatch.com/changelog.json): key-field differences between builds (rates, dates, amounts, shares, holdings)
- [Full plain-text summary](https://prefwatch.com/llms-full.txt)
- [X @PrefWatch](https://x.com/PrefWatch): official account for payout dates, coverage updates and feedback