IM
Investment Management Associates Inc /adv 13F Portfolio Snapshot & Holdings (Q2 2026)
Investment Management Associates Inc /advCIK: 0000052024
ContrarianQuality / disciplined sizingSector-focused
Total reported value
$487.4M
Reporting period: 2026-06-30 · Number of holdings: 32
INVESTMENT MANAGEMENT ASSOCIATES INC /ADV disclosed 32 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $487.4M and a quarterly turnover rate of 44.0%.
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Personality snowflake
- Concentration
- 22.13
- Portfolio Stability
- 43.96
- Momentum
- 0
- Sector conviction
- 73.24
- Diversification
- 60
- Sizing Uniformity
- 91.74
Investment Management Associates Inc /adv's disclosed holdings carry a Herfindahl concentration index of 0.055 — mathematically equivalent to about 18 equally-sized positions, well below its 32 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.83), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 59% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy QQQ
New buy SOXX
New buy GLDM
Trim HII
-0.2% -$11.6M
Add MOH
-1.2% $21.6M
Sold out QCOM
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 30 holdings (of 32 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MOH | Molina Healthcare Inc | Stock-Healthcare | 10.80% | +3.40% | -1.24% | |
| 2 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 7.86% | -1.65% | -3.76% | |
| 3 | UBER | Uber Technologies Inc | Stock-Industrials | 7.19% | -1.27% | -1.62% | |
| 4 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 6.94% | +6.94% | NEW | |
| 5 | HII | Huntington Ingalls Industrie | Stock-Industrials | 6.59% | -3.82% | -0.22% | |
| 6 | TFIN | Triumph Financial Inc | Stock-Other | 5.54% | +0.51% | -0.04% | |
| 7 | BSM | Black Stone Minerals LP | Stock-Other | 5.30% | -1.55% | -2.78% | |
| 8 | PHG | Koninklijke Philips Nvr- Ny | Stock-Healthcare | 4.79% | +1.43% | +66.87% | |
| 9 | SOXX | Ishares Semiconductor ETF | ETF-Other | 4.43% | +4.43% | NEW | |
| 10 | PM | Philip Morris International | Stock-Consumer Staples | 4.25% | -0.47% | -4.35% | |
| 11 | GLDM | Spdr Gold Minishares Trust | ETF-Commodities | 4.01% | +4.01% | NEW | |
| 12 | EPD | Enterprise Products Partners | Stock-Energy | 3.96% | -0.90% | -2.61% | |
| 13 | BAX | Baxter International Inc | Stock-Healthcare | 3.94% | +0.82% | +15.65% | |
| 14 | BTI | British American Tob-sp Adr | Stock-Consumer Staples | 3.45% | -2.82% | -39.47% | |
| 15 | NU | Nu Holdings Ltd. | Stock-Financials | 3.44% | -0.23% | +16.99% | |
| 16 | LBRDK | Liberty Broadband-c | Stock-Comm Services | 3.25% | -2.35% | +1.95% | |
| 17 | INVX | Innovex International Inc | Stock-Other | 3.08% | -0.59% | -4.22% | |
| 18 | CNQ | Canadian Natural Resources | Stock-Energy | 2.84% | -1.35% | -3.01% | |
| 19 | ✓ | Stock-Other | 2.38% | +2.38% | NEW | ||
| 20 | SOLV | Solventum CORP | Stock-Healthcare | 1.67% | -0.15% | -10.13% | |
| 21 | MCK | Mckesson CORP | Stock-Healthcare | 1.66% | -0.60% | -2.54% | |
| 22 | SHV | Ishares 0-1 Year Treasury Bo | ETF-Gov Bonds | 0.93% | — | +16.08% | |
| 23 | CACI | Caci International Inc -cl A | Stock-Tech | 0.70% | -0.31% | -4.65% | |
| 24 | SPRY | Ars Pharmaceuticals Inc | Stock-Other | 0.61% | -0.08% | +4.01% | |
| 25 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.09% | -0.02% | -12.61% | |
| 26 | NVDA | Nvidia CORP | Stock-Tech | 0.08% | — | — | |
| 27 | DEO | Diageo Plc-sponsored Adr | Stock-Consumer Staples | 0.07% | +0.07% | NEW | |
| 28 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.05% | -0.03% | — | |
| 29 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.05% | — | — | |
| 30 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.05% | +0.05% | NEW |
Portfolio Performance
Performance for Q3 2026
+4.4%
Performance Last 4 Quarters
+8.3%
- Stdev
- +12.1%
- Beta
- +0.64
- Alpha
- -0.1%
- Max Drawdown
- -8%
- Annualized Perf
- +12.8%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +1.87
- Stutzer
- +0.31
- Treynor
- +0.2
- Sterling
- +0.79
- Calmar
- +1.6
- Information Ratio
- -0.73
- Tracking Error
- +9.9%
- Stdev Down
- +6.8%
- Winning Months %
- +75%
- Losing Months %
- +25%
- Best 12 Months
- +22.1%
- Worst 12 Months
- +4.1%
- Efficiency Ratio
- +0.42
- Sharpe
- +1.06
- Stdev Sectors
- +12.2%
- Skewness
- -0.03
- Kurtosis
- +0.27
- Upside Potential
- +3.45
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 32 | $487.4M | 44 | ||
| 2026 Q1 | 31 | $419.8M | 34 | ||
| 2025 Q4 | 29 | $362.6M | 29 | ||
| 2025 Q3 | 31 | $339.4M | 43 | ||
| 2025 Q2 | 30 | $298.8M | 0 | ||
| 2025 Q1 | 23 | $244.4M | 100 | ||
| 2024 Q4 | 28 | $229.1M | 0 | ||
| 2024 Q3 | 36 | $255.8M | 0 | ||
| 2024 Q2 | 34 | $291.3M | 0 | ||
| 2024 Q1 | 35 | $290.0M | 0 | ||
| 2023 Q4 | 34 | $258.7M | 0 | ||
| 2023 Q3 | 33 | $239.8M | 0 | ||
| 2023 Q2 | 38 | $274.9M | 0 | ||
| 2023 Q1 | 38 | $242.6M | 0 | ||
| 2022 Q4 | 42 | $238.9M | 0 | ||
| 2022 Q3 | 43 | $212.6M | 0 | ||
| 2022 Q2 | 41 | $232.5M | 0 | ||
| 2022 Q1 | 47 | $224.9M | 0 | ||
| 2021 Q4 | 54 | $220.1M | 0 | ||
| 2021 Q3 | 56 | $192.2M | 0 | ||
| 2021 Q2 | 57 | $192.3M | 100 | ||
| 2021 Q1 | 58 | $171.2M | 29 | ||
| 2020 Q4 | 58 | $133.9M | — |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
Investment Management Associates Inc /adv's most significant position changes for 2026-06-30: New buy: Invesco Qqq Trust Series 1 (QQQ); New buy: Ishares Semiconductor ETF (SOXX); New buy: Spdr Gold Minishares Trust (GLDM); Sold out: Qualcomm Inc (QCOM); New buy: .
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | +6.9% | NEW | New buy |
| 2 | SOXX | Ishares Semiconductor ETF | +4.4% | NEW | New buy |
| 3 | GLDM | Spdr Gold Minishares Trust | +4% | NEW | New buy |
| 4 | MOH | Molina Healthcare Inc | +3.4% | -1.24% | Trim |
| 5 | ✓ | +2.4% | NEW | New buy | |
| 6 | PHG | Koninklijke Philips Nvr- Ny | +1.4% | +66.87% | Add |
| 7 | BAX | Baxter International Inc | +0.8% | +15.65% | Add |
| 8 | TFIN | Triumph Financial Inc | +0.5% | -0.04% | Trim |
| 9 | DEO | Diageo Plc-sponsored Adr | +0.1% | NEW | New buy |
| 10 | SCHD | Schwab US Dvd Equity ETF | +0.1% | NEW | New buy |
| 11 | SHV | Ishares 0-1 Year Treasury Bo | — | +16.08% | Add |
| 12 | NVDA | Nvidia CORP | — | — | Unchanged |
| 13 | AMZN | Amazon.com Inc | — | — | Unchanged |
| 14 | ✓ | Imperial Pete Inc | 0% | EXIT | Sold out |
| 15 | QVCAQ | Qvc Group Inc | 0% | EXIT | Sold out |
| 16 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | -12.61% | Trim |
| 17 | GDX | Vaneck Gold Miners ETF | 0% | — | Unchanged |
| 18 | SPRY | Ars Pharmaceuticals Inc | -0.1% | +4.01% | Add |
| 19 | SOLV | Solventum CORP | -0.2% | -10.13% | Trim |
| 20 | SII | Sprott Inc | -0.2% | EXIT | Sold out |
| 21 | NU | Nu Holdings Ltd. | -0.2% | +16.99% | Add |
| 22 | CACI | Caci International Inc -cl A | -0.3% | -4.65% | Trim |
| 23 | PM | Philip Morris International | -0.5% | -4.35% | Trim |
| 24 | INVX | Innovex International Inc | -0.6% | -4.22% | Trim |
| 25 | MCK | Mckesson CORP | -0.6% | -2.54% | Trim |
| 26 | EPD | Enterprise Products Partners | -0.9% | -2.61% | Trim |
| 27 | UBER | Uber Technologies Inc | -1.3% | -1.62% | Trim |
| 28 | CNQ | Canadian Natural Resources | -1.4% | -3.01% | Trim |
| 29 | BSM | Black Stone Minerals LP | -1.6% | -2.78% | Trim |
| 30 | TLT | Ishares 20+ Year Treasury Bd | -1.7% | -3.76% | Trim |
| 31 | LBRDK | Liberty Broadband-c | -2.4% | +1.95% | Add |
| 32 | GLD | Spdr Gold Shares | -2.6% | EXIT | Sold out |
| 33 | BTI | British American Tob-sp Adr | -2.8% | -39.47% | Trim |
| 34 | QCOM | Qualcomm Inc | -3.1% | EXIT | Sold out |
| 35 | HII | Huntington Ingalls Industrie | -3.8% | -0.22% | Trim |
Filing History
FAQ
What is Investment Management Associates Inc /adv and what type of investor is it?
Investment Management Associates Inc /adv is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $487.4M, spread across 32 disclosed positions.
What are Investment Management Associates Inc /adv's largest equity positions?
Based on the latest 13F filing, Investment Management Associates Inc /adv's top holdings by market value are:
1. Molina Healthcare Inc (MOH) — $52.7M (10.8%)
2. Ishares 20+ Year Treasury Bd (TLT) — $38.3M (7.9%)
3. Uber Technologies Inc (UBER) — $35.1M (7.2%)
4. Invesco Qqq Trust Series 1 (QQQ) — $33.8M (6.9%)
5. Huntington Ingalls Industrie (HII) — $32.1M (6.6%)
What changes did Investment Management Associates Inc /adv make in its most recent portfolio filing?
In the latest reported quarter, Investment Management Associates Inc /adv made 32 notable position adjustments: 6 new positions were initiated, 6 existing holdings were added to, 15 positions were partially reduced, and 5 were completely exited. The largest of these moves: New buy: Invesco Qqq Trust Series 1 (QQQ); New buy: Ishares Semiconductor ETF (SOXX); New buy: Spdr Gold Minishares Trust (GLDM); Sold out: Qualcomm Inc (QCOM); New buy:
What sectors does Investment Management Associates Inc /adv focus on?
Investment Management Associates Inc /adv is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 38.9%
• Industrials: 23.5%
• Consumer Staples: 13.2%
• Energy: 11.6%
• Financials: 5.9%
• Communication Services: 5.5%
Investment Profile
Investment Management Associates Inc /adv returned an annualized 12.8% over the trailing 36 months — underperforming the S&P 500 by 0.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.64 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 38.9% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 44 over the past 4 quarters — a shift toward more active trading.
It has added to its PHG position over the past two quarters (+$9.6M, now $23.4M), while trimming CACI over the same stretch (-$3.2M, still holding $3.4M).
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