Q4 2025 · 13F-HR
INVESTMENT MANAGEMENT ASSOCIATES INC /ADVholdings as filed
Filed 2026-02-03 · accession 0000052024-26-000001
The Brief · INVESTMENT MANAGEMENT ASSOCIATES INC /ADV · Q4 2025
AI · grounded in 13F
INVESTMENT MANAGEMENT ASSOCIATES INC /ADV closed its positions in Humana Inc HUM, reducing exposure by $5.19M, and Elevance Health Inc Formerly ELV by $4.23M. The fund increased its stake in Molina Healthcare Inc MOH by 113.2% and Nu Hldgs Ltd NU by 86.4%. Other notable activity includes accumulating shares of Comcast Corp New CMCSA by 65.3% and trimming its position in McKesson Corp MCK by 38.9%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 446413106 | HII | HUNTINGTON INGALLS INDS INC | $39.2M | 10.8% | 115,377 | Common | NONE |
| 60855R100 | MOH | MOLINA HEALTHCARE INC | $39.1M | 10.8% | 225,536 | Common | NONE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $36.4M | 10.0% | 445,912 | Common | NONE |
| 110448107 | BTI | BRITISH AMERN TOB PLC | $25.7M | 7.09% | 453,806 | Common | NONE |
| 09225M101 | BSM | BLACK STONE MINERALS L P | $25.3M | 6.97% | 1,902,421 | Common | NONE |
| 89679E300 | TFIN | TRIUMPH FINANCIAL INC | $21.3M | 5.88% | 340,161 | Common | NONE |
| 530307305 | LBRDK | LIBERTY BROADBAND CORP | $20.9M | 5.75% | 429,284 | Common | NONE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $19.3M | 5.33% | 120,586 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $17.0M | 4.69% | 530,324 | Common | NONE |
| 20030N101 | CMCSA | COMCAST CORP NEW | $16.7M | 4.60% | 558,367 | Common | NONE |
| G6683N103 | NU | NU HLDGS LTD | $15.5M | 4.29% | 928,723 | Common | NONE |
| 83444M101 | SOLV | SOLVENTUM CORP | $14.3M | 3.94% | 180,097 | Common | NONE |
| 457651107 | INVX | INNOVEX INTERNATIONAL INC | $13.8M | 3.81% | 631,686 | Common | NONE |
| 500472303 | PHG | KONINKLIJKE PHILIPS N V | $13.7M | 3.79% | 507,264 | Common | NONE |
| 136385101 | CNQ | CANADIAN NAT RES LTD | $12.1M | 3.34% | 358,299 | Common | NONE |
| 58155Q103 | MCK | MCKESSON CORP | $9.1M | 2.50% | 11,045 | Common | NONE |
| 127190304 | CACI | CACI INTL INC | $6.6M | 1.82% | 12,391 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD TR | $4.8M | 1.32% | 65,100 | CALL | NONE |
| 464288679 | SHV | ISHARES TR | $3.6M | 1.00% | 33,065 | Common | NONE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $3.6M | 1.00% | 311,503 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.1M | 0.30% | 2,136 | Common | NONE |
| 852066208 | SII | SPROTT INC | $1.0M | 0.28% | 10,357 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $847,838 | 0.23% | 3,119 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $373,000 | 0.10% | 2,000 | Common | NONE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $326,230 | 0.09% | 563 | Common | NONE |
| 92189F106 | GDX | VANECK ETF TRUST | $300,195 | 0.08% | 3,500 | Common | NONE |
| 464287432 | TLT | ISHARES TR | $250,142 | 0.07% | 460,500 | PUT | NONE |
| 74915M605 | QVCAQ | QVC GROUP INC | $223,520 | 0.06% | 21,369 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.