The author of this article has a vested interest in MicroStrategy (MSTR). According to Alberta Investment Management Corporation's (AIMCo) Q1 13F filing, the company 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 MSTR's current value of around $175, the position is now worth roughly $241 million, marking an unrealized gain of about $69 million. As a prominent Canadian institutional investor managing over $140 billion for Alberta's public sector pension plans as of December 2025, AIMCo's investment strategies are noteworthy. The 13F filing, a quarterly requirement for investment managers with U.S.
equity holdings exceeding $100 million, provides insight into their portfolio. Historically, AIMCo held a small stake in MSTR from late 2019 to mid-2020, consisting of around 198,000 shares, before exiting the position in September 2020, shortly after CEO Michael Saylor's pivot towards Bitcoin. In some regions, institutional investors face restrictions on directly holding Bitcoin, prompting them to explore alternative investments like Strategy or BlackRock's IBIT.