INVESTMENT MANAGEMENT ASSOCIATES INC /ADV
13F Reported Value
ⓘ$419.8M
incl. option notional
Equity Holdings
ⓘ$369.0M
Option Notional
ⓘ$50.9M
$40.1M puts / $10.8M calls
Holdings
30
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
INVESTMENT MANAGEMENT ASSOCIATES INC /ADV disclosed 30 positions worth $419.8M in its Form 13F-HR for Q1 2026 — $369.0M in common stock plus $50.9M of put/call option positions (reported at underlying notional value, not premium at risk), led by $HII (HUNTINGTON INGALLS INDUSTRIES, INC.) at 11.8% of the equity portfolio. During the quarter the fund opened 5 new positions and exited 3 — including a new stake in $BAX and a full exit from $CCZ. The portfolio is most concentrated in Energy (22.3% of disclosed assets). All figures are sourced directly from INVESTMENT MANAGEMENT ASSOCIATES INC /ADV’s Form 13F-HR filing with the SEC under CIK 52024.
AI Fund Analysis
StableSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- 55.4#1,161
Quality
$43.7M115,037 sh ISHARES TR PUT
—Quality
$39.9M460,500 sh- 79.3#57
Quality
$35.5M493,786 sh - 60.5
Quality
$31.1M233,152 sh - 65.3
Quality
$28.7M1,901,002 sh - —
Quality
$26.3M450,133 sh - 59.4
Quality
$23.5M467,220 sh - —
Quality
$21.1M354,002 sh - 66.4
Quality
$20.4M539,017 sh - 80.5
Quality
$19.8M119,778 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 HUNTINGTON INGALLS INDUSTRIES, INC.$HII | 55.4#1,161 | $43.7M | 115,037 |
| ISHARES TR PUT | — | $39.9M | 460,500 |
 Uber Technologies, Inc$UBER | 79.3#57 | $35.5M | 493,786 |
 MOLINA HEALTHCARE, INC.$MOH | 60.5 | $31.1M | 233,152 |
 Black Stone Minerals, L.P.$BSM | 65.3 | $28.7M | 1,901,002 |
 British American Tobacco p.l.c.$BTI | — | $26.3M | 450,133 |
 Liberty Broadband Corp$LBRDA | 59.4 | $23.5M | 467,220 |
 Triumph Financial, Inc.$TFIN | — | $21.1M | 354,002 |
 ENTERPRISE PRODUCTS PARTNERS L.P.$EPD | 66.4 | $20.4M | 539,017 |
 Philip Morris International Inc.$PM | 80.5 | $19.8M | 119,778 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of INVESTMENT MANAGEMENT ASSOCIATES INC /ADV's 30 positions.
Showing top 10 of 30 holdings.
Sector Allocation
Energy
$82.1M
Healthcare
$68.8M
Consumer Staples
$55.6M
Technology
$52.8M
Industrials
$43.7M
Financials
$37.9M
Communication Services
$23.5M
Other
$4.3M
Full Holdings — INVESTMENT MANAGEMENT ASSOCIATES INC /ADV (Q1 2026)
All 30 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $HII | HUNTINGTON INGALLS INDUSTRIES, INC. | $43.7M | 11.8% | -0% | 55.4 |
| 2 | — | ISHARES TR | $39.9M | — | +159% | — |
| 3 | $UBER | Uber Technologies, Inc | $35.5M | 9.6% | +11% | 79.3 |
| 4 | $MOH | MOLINA HEALTHCARE, INC. | $31.1M | 8.4% | +3% | 60.5 |
| 5 | $BSM | Black Stone Minerals, L.P. | $28.7M | 7.8% | -0% | 65.3 |
| 6 | $BTI | British American Tobacco p.l.c. | $26.3M | 7.1% | -1% | — |
| 7 | $LBRDA | Liberty Broadband Corp | $23.5M | 6.4% | +9% | 59.4 |
| 8 | $TFIN | Triumph Financial, Inc. | $21.1M | 5.7% | +4% | — |
| 9 | $EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | $20.4M | 5.5% | +2% | 66.4 |
| 10 | $PM | Philip Morris International Inc. | $19.8M | 5.4% | -1% | 80.5 |
| 11 |  $CNQ | CANADIAN NATURAL RESOURCES Ltd | $17.6M | 4.8% | +1% | — |
| 12 |  $NU | Nu Holdings Ltd. | $15.4M | 4.2% | +16% | — |
| 13 |  $INVX | Innovex International, Inc. | $15.4M | 4.2% | +0% | 62.4 |
| 14 |  $PHG | KONINKLIJKE PHILIPS NV | $14.1M | 3.8% | +2% | — |
| 15 |  $BAX | BAXTER INTERNATIONAL INC | $13.1M | 3.5% | NEW | 45.7 |
| 16 |  $QCOM | QUALCOMM INC/DE | $12.9M | 3.5% | NEW | 81.9 |
| 17 |  $GLDCALL | SPDR GOLD TRUST | $10.8M | — | -62% | — |
| 18 |  $MCK | MCKESSON CORP | $9.5M | 2.6% | -1% | 63.7 |
| 19 |  $SOLV | Solventum Corp | $7.7M | 2.1% | -35% | 55.7 |
| 20 |  $CACI | CACI INTERNATIONAL INC /DE/ | $4.2M | 1.1% | -37% | 66.7 |
| 21 | — | ISHARES TR | $3.9M | 1.1% | +6% | — |
| 22 |  $SPRY | ARS Pharmaceuticals, Inc. | $2.9M | 0.8% | +15% | 29.7 |
| 23 |  $SII | SPROTT INC. | $864,688 | 0.2% | -42% | — |
| 24 |  $BRK.B | BERKSHIRE HATHAWAY INC | $456,198 | 0.1% | -55% | 64.5 |
| 25 | — | VANECK ETF TRUST | $321,195 | 0.1% | +0% | — |
| 26 |  $AMZN | AMAZON COM INC | $208,270 | 0.1% | NEW | 74.6 |
| 27 |  $NVDAPUT | NVIDIA CORP | $174,400 | — | NEW | 90.2 |
| 28 | $NVDA | NVIDIA CORP | $174,400 | 0.1% | -50% | 90.2 |
| 29 | — | IMPERIAL PETE INC | $51,360 | 0.0% | NEW | — |
| 30 |  $QVCGA | QVC Group, Inc. | $45,830 | 0.0% | -1% | 29.3 |
New Positions (5)
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