The author of this article holds shares in MicroStrategy (MSTR). According to its latest quarterly 13F filing, Alberta Investment Management Corporation (AIMCo) acquired 1,382,000 shares of MicroStrategy (MSTR), valued at $172,473,600. This translates to an average cost per share of approximately $125.
Given the recent rally of MSTR to around $175, the position is now worth roughly $241 million, yielding an unrealized gain of approximately $69 million. As of December 2025, AIMCo manages over $140 billion in assets for Alberta's public sector pension plans, solidifying its position as one of Canada's largest institutional investors. The 13F filing, a quarterly requirement for institutional investment managers with U.S. equity holdings exceeding $100 million, discloses their quarter-end positions.
Historically, AIMCo held a smaller stake in MSTR, consisting of around 198,000 shares between late 2019 and mid-2020, before fully exiting the position in September 2020, shortly after MicroStrategy's strategic shift toward holding Bitcoin as a corporate asset. In some regions, institutional investors face restrictions on directly holding Bitcoin, prompting them to explore alternative investment avenues such as MicroStrategy or BlackRock's IBIT.