Alberta Investment Management Corporation (AIMCo) has seen a significant unrealized gain following its recent investment in Strategy (MSTR), as detailed in its first quarter 13F filing. The firm acquired 1,382,000 shares at an average cost of $125 each, totaling $172,473,600. With MSTR’s share price climbing to approximately $175, AIMCo’s stake is now valued around $241 million, yielding a potential unrealized gain of about $69 million.
As of December 2025, AIMCo oversees in excess of $140 billion for Alberta’s public sector pension plans, positioning it as one of Canada’s leading institutional investors. The quarterly 13F filing, mandated by the SEC, requires disclosure from investment managers with over $100 million in U.S. equity assets.
According to FactSet data, AIMCo once held a minor stake in MSTR between late 2019 and mid-2020, amounting to roughly 198,000 shares. This position was entirely divested in September 2020 following Strategy’s shift under CEO Michael Saylor towards Bitcoin as a corporate treasury asset in August 2020. In certain regions, institutional investors may encounter restrictions on holding Bitcoin directly, prompting them to explore alternative investments like MSTR or BlackRock’s IBIT.