Alberta Investment Management Corporation (AIMCo) purchased 1,382,000 shares of Strategy (MSTR) for $172,473,600, according to its first quarter 13F filing.
That means the average cost per share is about $125. With MSTR rising to about $175, the position is now worth about $241 million, equivalent to about $69 million in unrealized gains.
As of December 2025, AIMCo managed more than $140 billion on behalf of Alberta’s public sector pension plans, making it one of Canada’s largest institutional investors.
13F is a document that the SEC requires institutional investment managers holding more than $100 million in U.S. stocks to submit quarterly and disclose their positions at the end of each quarter.
AIMCo previously held a small position in MSTR, about 198,000 shares, from late 2019 to mid-2020, according to FactSet. The fund completely exited the position in September 2020, shortly after CEO Michael Saylor pivoted the company to Bitcoin as a corporate financial asset in August 2020.
In some jurisdictions, institutional investors may face restrictions on directly holding Bitcoin, leading them to seek alternative investments through vehicles such as Strategy or BlackRock’s IBIT.
