As per its Q1 13F filing, Alberta Investment Management Corporation (AIMCo) acquired 1,382,000 shares of Strategy (MSTR) at a cost of $172,473,600. This equates to an average price of approximately $125 per share.
Given MSTR's current value of around $175, the position is now worth roughly $241 million, representing an unrealized gain of approximately $69 million. As of December 2025, AIMCo oversees over $140 billion for Alberta's public sector pension plans, solidifying its position as one of Canada's largest institutional investors. The 13F filing, mandatory for investment managers with U.S.
equity holdings exceeding $100 million, reveals their quarterly portfolio compositions. Historical data from FactSet indicates 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, following CEO Michael Saylor's strategic shift toward 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 exposure avenues through entities like Strategy or BlackRock's IBIT.