# INVESTMENT MANAGEMENT ASSOCIATES INC /ADV: Form 13F holdings

An institutional investment manager in GREENWOOD VILLAGE, CO. SEC CIK 52024.

- Quarter ended: 2026-06-30
- Filed: 2026-08-03
- Reported value: $487.4m
- Positions: 31 (32 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/52024/000005202426000004/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [MOLINA HEALTHCARE INC (MOH)](/companies/moh.md) | COM | $52.7m | 10.8% | 230,258 |  | Reduced −2,894 |
| ISHARES TR | 20 YR TR BD ETF | $38.3m | 7.9% | 443,200 | Put | Reduced −17,300 |
| [UBER TECHNOLOGIES INC (UBER)](/companies/uber.md) | COM | $35.1m | 7.2% | 485,805 |  | Reduced −7,981 |
| INVESCO QQQ TR | UNIT SER 1 | $33.8m | 6.9% | 45,900 | Put | New +45,900 |
| [HUNTINGTON INGALLS INDS INC (HII)](/companies/hii.md) | COM | $32.1m | 6.6% | 114,780 |  | Reduced −257 |
| [TRIUMPH FINANCIAL INC (TFIN)](/companies/tfin.md) | COM | $27.0m | 5.5% | 353,851 |  | Reduced −151 |
| [BLACK STONE MINERALS L P (BSM)](/companies/bsm.md) | COM UNIT | $25.8m | 5.3% | 1,848,184 |  | Reduced −52,818 |
| [KONINKLIJKE PHILIPS N V (PHG)](/companies/phg.md) | NY REGIS SHS NEW | $23.4m | 4.8% | 859,379 |  | Added +344,372 |
| ISHARES TR | ISHARES SEMICDTR | $21.6m | 4.4% | 33,700 | Put | New +33,700 |
| [PHILIP MORRIS INTL INC (PM)](/companies/pm.md) | COM | $20.7m | 4.3% | 114,566 |  | Reduced −5,212 |
| [WORLD GOLD TR (GLDM)](/companies/gldm.md) | SPDR GLD MINIS | $19.5m | 4.0% | 245,796 |  | New +245,796 |
| [ENTERPRISE PRODS PARTNERS L (EPD)](/companies/epd.md) | COM | $19.3m | 4.0% | 524,941 |  | Reduced −14,076 |
| [BAXTER INTL INC (BAX)](/companies/bax.md) | COM | $19.2m | 3.9% | 900,843 |  | Added +121,912 |
| [BRITISH AMERN TOB PLC (BTI)](/companies/bti.md) | SPONSORED ADR | $16.8m | 3.5% | 272,457 |  | Reduced −177,676 |
| NU HLDGS LTD | ORD SHS CL A | $16.8m | 3.4% | 1,256,018 |  | Added +182,401 |
| LIBERTY BROADBAND CORP | COM SER C | $15.8m | 3.3% | 476,314 |  | Added +9,094 |
| [INNOVEX INTERNATIONAL INC (INVX)](/companies/invx.md) | COM | $15.0m | 3.1% | 605,042 |  | Reduced −26,664 |
| [CANADIAN NAT RES LTD MED TER (CNQ)](/companies/cnq.md) | COM | $13.8m | 2.8% | 350,000 |  | Reduced −10,870 |
| WISE GROUP PLC | ORD SHS CLASS A | $11.6m | 2.4% | 975,576 |  | New +975,576 |
| [SOLVENTUM CORP (SOLV)](/companies/solv.md) | COM SHS | $8.1m | 1.7% | 105,417 |  | Reduced −11,888 |
| [MCKESSON CORP (MCK)](/companies/mck.md) | COM | $8.1m | 1.7% | 10,698 |  | Reduced −279 |
| ISHARES TR | TRUST ISHARE 0-1 | $4.5m | 0.9% | 40,874 |  | Added +5,662 |
| [CACI INTL INC (CACI)](/companies/caci.md) | CL A | $3.4m | 0.7% | 7,406 |  | Reduced −361 |
| [ARS PHARMACEUTICALS INC (SPRY)](/companies/spry.md) | COM | $3.0m | 0.6% | 373,491 |  | Added +14,417 |
| [BERKSHIRE HATHAWAY INC DEL (BRK-B)](/companies/brk-b.md) | CL B NEW | $416.3k | <0.1% | 832 |  | Reduced −120 |
| [DIAGEO PLC (DEO)](/companies/deo.md) | SPON ADR NEW | $328.0k | <0.1% | 4,081 |  | New +4,081 |
| VANECK ETF TRUST | GOLD MINERS ETF | $264.1k | <0.1% | 3,500 |  | Unchanged |
| [AMAZON COM INC (AMZN)](/companies/amzn.md) | COM | $238.3k | <0.1% | 1,000 |  | Unchanged |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | $223.4k | <0.1% | 7,046 |  | New +7,046 |
| [NVIDIA CORPORATION (NVDA)](/companies/nvda.md) | COM | $200.1k | <0.1% | 1,000 | Put | Unchanged |
| [NVIDIA CORPORATION (NVDA)](/companies/nvda.md) | COM | $200.1k | <0.1% | 1,000 |  | Unchanged |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| IMPERIAL PETE INC | COM NEW | $0 | 0.0% | 0 |  | Sold out −12,000 |
| [QUALCOMM INC (QCOM)](/companies/qcom.md) | COM | $0 | 0.0% | 0 |  | Sold out −100,185 |
| QVC GROUP INC | COM SER A NEW | $0 | 0.0% | 0 |  | Sold out −21,120 |
| [SPDR GOLD TR (GLD)](/companies/gld.md) | GOLD SHS | $0 | 0.0% | 0 | Call | Sold out −25,000 |
| [SPROTT INC (SII)](/companies/sii.md) | COM NEW | $0 | 0.0% | 0 |  | Sold out −6,051 |

Source: SEC EDGAR, Form 13F-HR, accession 0000052024-26-000004. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.