According to its Q1 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 MSTR's current price of around $175, the position is now worth roughly $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, a quarterly requirement for institutional investment managers with U.S. equity holdings exceeding $100 million, reveals their quarterly portfolio positions. Historically, AIMCo 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, shortly after CEO Michael Saylor's strategic shift toward Bitcoin as a corporate asset. 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, for indirect exposure.