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 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, resulting in an unrealized gain of approximately $69 million.
As a prominent institutional investor managing over $140 billion for Alberta's public sector pension plans, AIMCo's investment strategies are closely watched. The 13F filing, a quarterly requirement for investment managers with over $100 million in U.S. equity holdings, reveals AIMCo's stake in MSTR. Historical data from FactSet indicates that AIMCo previously held a small position in MSTR from late 2019 to mid-2020, before exiting the position in September 2020, shortly after the company's strategic shift toward Bitcoin.
To navigate potential restrictions on directly holding Bitcoin, institutional investors like AIMCo may seek alternative exposure through companies like Strategy or investment products such as BlackRock's IBIT.