Canadian Pension Fund AIMCo Buys Strategy Shares, Amasses $69 Million Paper Gain

Alberta Investment Management Corporation (AIMCo), which manages provincial pensions and public assets, is one of Canada's largest institutional investors. Strategy, formerly known as MicroStrategy, has transformed itself in recent years into a publicly traded company with Bitcoin at the core of its treasury reserves, making its shares highly correlated with the cryptocurrency. AIMCo's investment reflects a reassessment by traditional pension funds of indirect exposure to crypto assets.

The latest filing shows that AIMCo bought 1.38 million MSTR shares during a pullback in Strategy's stock in the first quarter of 2026. The value of the stake subsequently rose, leaving the fund with an unrealized gain of about $69 million. The position shows that a major pension fund rebuilt its holding after the company adopted a Bitcoin treasury strategy, though the ultimate return remains dependent on fluctuations in MSTR and Bitcoin prices.