According to its first-quarter 13F filing, Alberta Investment Management Corporation (AIMCo) acquired 1,382,000 shares of Strategy (MSTR) with a total value of $172,473,600. The average cost per share was approximately $125, but with the current price of MSTR at around $175, the position is now valued at approximately $241 million, resulting in an unrealized gain of about $69 million. As one of Canada's largest institutional investors, AIMCo manages over $140 billion for Alberta's public sector pension plans as of December 2025.
The 13F filing, required by the SEC for institutional investment managers with U.S. equity holdings exceeding $100 million, reveals AIMCo's quarterly positions.
Historically, AIMCo held a small stake in MSTR from late 2019 to mid-2020, with around 198,000 shares, before exiting the position in September 2020, following CEO Michael Saylor's strategic shift toward Bitcoin as a corporate treasury asset in August 2020. Due to potential restrictions on directly holding Bitcoin in certain jurisdictions, institutional investors like AIMCo may seek alternative exposure through companies such as Strategy or investment products like BlackRock's IBIT.