In its latest quarterly 13F filing, Alberta Investment Management Corporation (AIMCo) disclosed the purchase of 1,382,000 Strategy shares, valued at $172,473,600. This translates to an average cost per share of approximately $125. Given the recent surge in MSTR's price to around $175, the position is now worth roughly $241 million, yielding an unrealized gain of approximately $69 million.
As a major Canadian institutional investor managing over $140 billion for Alberta's public sector pension plans, AIMCo's investment moves are closely watched. The 13F filing, mandatory for investment managers with U.S. equity holdings exceeding $100 million, reveals AIMCo's portfolio composition at the end of each quarter.
Historical data from FactSet indicates that AIMCo previously held a minor stake in MSTR from late 2019 to mid-2020, comprising about 198,000 shares, before completely exiting the position in September 2020. This move followed CEO Michael Saylor's strategic shift toward using 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 avenues such as Strategy or similar vehicles.