INVESTMENT MANAGEMENT ASSOCIATES INC /ADV
Registered adviserRegulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Jun 2026 to Nov 2026 | $809,975,042 | Individuals and high net worth (89%) |
| Jun 2025 to May 2026 | $572,704,969 | Individuals and high net worth (84%) |
| Jun 2024 to May 2025 | $515,382,593 | Individuals and high net worth (83%) |
| Jun 2023 to May 2024 | $417,612,028 | Individuals and high net worth (78%) |
| May 2023 | $322,954,619 | Individuals and high net worth (80%) |
| Jun 2022 to Apr 2023 | $322,954,619 | Individuals and high net worth (80%) |
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.
Closest benchmark: every 13F filer's combined book, active share 97.6%; sector active share 41.5% against the combined 13F book's sector weights.
Over time 23 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
31 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026Portfolio Trend
Sector Breakdown
As of Sep 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Unclassified | 28.0% | $137,457,528 |
| Healthcare | 19.8% | $97,218,307 |
| Energy | 14.5% | $71,117,495 |
| Technology | 12.8% | $62,764,178 |
| Financial Services | 8.3% | $40,517,351 |
| Consumer Defensive | 7.5% | $36,934,694 |
| Industrials | 6.3% | $30,754,712 |
| Communication Services | 2.7% | $13,431,618 |
| Consumer Cyclical | 0.1% | $249,150 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| WSE | Wise Group plc | +629,585 | 1,605,161 | $18,282,783 | |
| NU | Nu Holdings Ltd. | +234,366 | 1,490,384 | $18,868,261 | |
| INVX | Innovex International, Inc. | +84,243 | 689,285 | $18,624,480 | |
| UBER | Uber Technologies, Inc | +38,658 | 524,463 | $35,930,960 | |
| GLDM | World Gold Trust | +30,370 | 276,166 | $22,695,321 | |
| SPRY | ARS Pharmaceuticals, Inc. | +19,937 | 393,428 | $1,695,674 | |
| DEO | Diageo PLC | +15,576 | 19,657 | $1,682,639 | |
| PHG | Koninklijke Philips NV | +10,894 | 870,273 | $21,260,769 | |
| SHV | iShares 0-1 Year Treasury Bond ETF | +3,698 | 44,572 | $4,917,183 | |
| MOH | Molina Healthcare, Inc. | +825 | 231,083 | $43,697,795 | |
| TFIN | Triumph Financial, Inc. | +611 | 354,462 | $21,264,175 | |
| HII | Huntington Ingalls Industries, Inc. | +376 | 115,156 | $30,754,712 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| BSM | Black Stone Minerals, L.P. | −618,858 | 1,229,326 | $17,603,948 | |
| PM | Philip Morris International Inc. | −6,513 | 108,053 | $20,618,673 | |
| EPD | Enterprise Products Partners L.P. | −4,812 | 520,129 | $18,521,793 | |
| BAX | Baxter International Inc | −3,728 | 897,115 | $21,530,760 | |
| BTI | British American Tobacco p.l.c. | −3,461 | 268,996 | $14,633,382 | |
| CNQ | CANADIAN NATURAL RESOURCES Ltd | −2,278 | 347,722 | $16,367,274 | |
| MCK | Mckesson Corp | −118 | 10,580 | $9,033,309 | |
| BRK-B | Berkshire Hathaway Inc | −59 | 773 | $384,915 | |
| No positions match the current search. | |||||
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| MOH |
Molina Healthcare, Inc.
Healthcare
|
Added | 231,083 | $43,697,795 | 8.91% | |
| UBER |
Uber Technologies, Inc
Technology
|
Added | 524,463 | $35,930,960 | 7.33% | |
| TLT |
iShares 20+ Year Treasury Bond ETF
PUT
|
Reduced | 435,100 | $33,842,078 | 6.90% | |
| QQQ |
Invesco Qqq Trust, Series 1
PUT
|
Reduced | 45,400 | $33,585,558 | 6.85% | |
| HII |
Huntington Ingalls Industries, Inc.
Industrials
|
Added | 115,156 | $30,754,712 | 6.27% | |
| GLD |
Spdr Gold Trust
CALL
|
NEW | 61,000 | $23,231,240 | 4.74% | |
| GLDM |
World Gold Trust
|
Added | 276,166 | $22,695,321 | 4.63% | |
| BAX |
Baxter International Inc
Healthcare
|
Reduced | 897,115 | $21,530,760 | 4.39% | |
| TFIN |
Triumph Financial, Inc.
Financial Services
|
Added | 354,462 | $21,264,175 | 4.34% | |
| PHG |
Koninklijke Philips NV
Healthcare
|
Added | 870,273 | $21,260,769 | 4.33% | |
| PM |
Philip Morris International Inc.
Consumer Defensive
|
Reduced | 108,053 | $20,618,673 | 4.20% | |
| SOXX |
iShares Semiconductor ETF
PUT
|
Reduced | 33,200 | $18,878,848 | 3.85% | |
| NU |
Nu Holdings Ltd.
Financial Services
|
Added | 1,490,384 | $18,868,261 | 3.85% | |
| INVX |
Innovex International, Inc.
Energy
|
Added | 689,285 | $18,624,480 | 3.80% | |
| EPD |
Enterprise Products Partners L.P.
Energy
|
Reduced | 520,129 | $18,521,793 | 3.78% | |
| WSE |
Wise Group plc
Technology
|
Added | 1,605,161 | $18,282,783 | 3.73% | |
| BSM |
Black Stone Minerals, L.P.
Energy
|
Reduced | 1,229,326 | $17,603,948 | 3.59% | |
| CNQ |
CANADIAN NATURAL RESOURCES Ltd
Energy
|
Reduced | 347,722 | $16,367,274 | 3.34% | |
| BTI |
British American Tobacco p.l.c.
Consumer Defensive
|
Reduced | 268,996 | $14,633,382 | 2.98% | |
| CHTR |
Charter Communications, Inc.
Communication Services
|
NEW | 115,358 | $12,793,202 | 2.61% | |
| MCK |
Mckesson Corp
Healthcare
|
Reduced | 10,580 | $9,033,309 | 1.84% | |
| ADBE |
Adobe Inc.
Technology
|
NEW | 32,659 | $7,836,200 | 1.60% | |
| SHV |
iShares 0-1 Year Treasury Bond ETF
|
Added | 44,572 | $4,917,183 | 1.00% | |
| SPRY |
ARS Pharmaceuticals, Inc.
Healthcare
|
Added | 393,428 | $1,695,674 | 0.35% | |
| DEO |
Diageo PLC
Consumer Defensive
|
Added | 19,657 | $1,682,639 | 0.34% | |
| CMCSA |
Comcast Corp
Communication Services
|
NEW | 29,339 | $638,416 | 0.13% | |
| NVDA |
Nvidia Corp
PUT
+ SHARES
Technology
|
Held | 2,000 | $456,760 | 0.09% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Reduced | 773 | $384,915 | 0.08% | |
| GDX |
VanEck Gold Miners ETF
|
Held | 3,500 | $307,300 | 0.06% | |
| MSFT |
Microsoft Corp
Technology
|
NEW | 502 | $257,475 | 0.05% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Held | 1,000 | $249,150 | 0.05% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.