According to its recent 13F filing, Alberta Investment Management Corporation (AIMCo) acquired 1,382,000 shares of Strategy (MSTR) with a total value of $172,473,600. This translates to an average cost per share of approximately $125.
Given the current price of MSTR at around $175, the position is now valued at roughly $241 million, yielding an unrealized gain of approximately $69 million. As one of Canada's largest institutional investors, AIMCo oversees more than $140 billion in assets for Alberta's public sector pension plans as of December 2025. The 13F filing, mandatory for institutional investment managers with over $100 million in U.S. equity holdings, discloses their quarterly positions.
Historical data from FactSet reveals that AIMCo previously held a minor stake in MSTR from late 2019 to mid-2020, comprising around 198,000 shares, before completely exiting the position in September 2020. This move occurred shortly after the company's CEO, Michael Saylor, shifted its focus towards Bitcoin as a corporate treasury asset in August 2020. In some regions, institutional investors face restrictions on directly holding Bitcoin, prompting them to explore alternative investment options such as Strategy or BlackRock's IBIT.