Key Takeaways
- • Alberta Investment Management Corporation (AIMCo) bought 1,382,000 shares of Strategy (MSTR) for $172,473,600 in the first quarter, according to its 13F filing.
- • At an implied average cost of about $125 per share and MSTR trading near $175, the position was valued at roughly $241 million, an unrealized gain of about $69 million.
- • AIMCo, which managed more than $140 billion for Alberta's public sector pension plans as of December 2025, previously held a small MSTR stake of about 198,000 shares between late 2019 and mid-2020.
- • The fund fully exited MSTR in September 2020, shortly after Michael Saylor redirected the company toward Bitcoin as a corporate treasury asset.
Summary
Alberta Investment Management Corporation (AIMCo) disclosed in its first quarter 13F filing that it purchased 1,382,000 shares of Strategy (MSTR) for $172,473,600, according to CoinDesk. The purchase implies an average cost of about $125 per share. With MSTR having rallied to around $175, the position would be worth roughly $241 million, representing an unrealized gain of approximately $69 million.
AIMCo manages more than $140 billion on behalf of Alberta's public sector pension plans as of December 2025, making it one of Canada's largest institutional investors. A 13F is a quarterly SEC filing required of institutional investment managers with more than $100 million in U.S. equity holdings, disclosing positions as of quarter-end.
According to FactSet, AIMCo previously held a small MSTR position of roughly 198,000 shares between late 2019 and mid-2020. The fund exited entirely in September 2020, shortly after CEO Michael Saylor pivoted the company toward Bitcoin as a corporate treasury asset in August 2020. The new stake marks a return to the name after nearly six years.
The article notes that institutional investors in certain jurisdictions may face restrictions on holding Bitcoin directly, leading them to seek alternative exposure through instruments such as Strategy or BlackRock's IBIT. The author of the CoinDesk story disclosed owning MSTR shares.
AIMCo manages more than $140 billion on behalf of Alberta's public sector pension plans as of December 2025, making it one of Canada's largest institutional investors. A 13F is a quarterly SEC filing required of institutional investment managers with more than $100 million in U.S. equity holdings, disclosing positions as of quarter-end.
According to FactSet, AIMCo previously held a small MSTR position of roughly 198,000 shares between late 2019 and mid-2020. The fund exited entirely in September 2020, shortly after CEO Michael Saylor pivoted the company toward Bitcoin as a corporate treasury asset in August 2020. The new stake marks a return to the name after nearly six years.
The article notes that institutional investors in certain jurisdictions may face restrictions on holding Bitcoin directly, leading them to seek alternative exposure through instruments such as Strategy or BlackRock's IBIT. The author of the CoinDesk story disclosed owning MSTR shares.
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