Investment Management Associates Inc. In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 3, 2026), Investment Management Associates Inc. reported 27 stock positions worth $393.5 million . Its top holding was Molina Healthcare (MOH) at 13.4% of the portfolio, followed by Uber Technologies (UBER, 8.9% ) and Huntington Ingalls Industrie (HII, 8.2% ). Compared with Q1 2026, it opened 4 new positions, sold out of 4, added to 6 and reduced 14. The biggest buy was a new position in SPDR Gold Minishares Trust (GLDM) and the biggest sale Huntington Ingalls Industrie (HII, shares −0% ).
Location GREENWOOD VILLAGE, CO
CIK 0000052024
Portfolio Value $393.5M (Q2 2026) Holdings 27 stocks · $393.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 MOH Molina Healthcare Inc. 230,258 $52.7M Reduce -1.2% UBER Uber Technologies Inc. 485,805 $35.1M Reduce -1.6% HII Huntington Ingalls Industrie 114,780 $32.1M Reduce -0.2% TFIN Triumph Financial Inc. 353,851 $27.0M Reduce -0.0% BSM Black Stone Minerals LP 1,848,184 $25.8M Reduce -2.8% PHG Koninklijke Philips NVR- NY 859,379 $23.4M Add +66.9% PM Philip Morris International 114,566 $20.7M Reduce -4.3% GLDM SPDR Gold Minishares Trust 245,796 $19.5M New EPD Enterprise Products Partners 524,941 $19.3M Reduce -2.6% BAX Baxter International Inc. 900,843 $19.2M Add +15.7% BTI British American Tob-SP ADR 272,457 $16.8M Reduce -39.5% NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 1,256,018 $16.8M Add +17.0% LBRDK Liberty Broadband-C 476,314 $15.8M Add +1.9% INVX Innovex International Inc. 605,042 $15.0M Reduce -4.2% CNQ Canadian Natural Resources 350,000 $13.8M Reduce -3.0% WSE Wise Group PLC Class A 975,576 $11.6M New SOLV Solventum Corp. 105,417 $8.1M Reduce -10.1% MCK McKesson Corp. 10,698 $8.1M Reduce -2.5% SHV iShares 0-1 Year Treasury Bo 40,874 $4.5M Add +16.1% CACI Caci International Inc. Class A 7,406 $3.4M Reduce -4.7% SPRY Ars Pharmaceuticals Inc. 373,491 $3.0M Add +4.0% BRK.B Berkshire Hathaway Inc. Class B 832 $416K Reduce -12.6% DEO Diageo PLC-Sponsored ADR 4,081 $328K New GDX Vaneck Gold Miners ETF 3,500 $264K No change AMZN Amazon.com Inc. 1,000 $238K No change SCHD Schwab US DVD Equity ETF 7,046 $223K New NVDA Nvidia Corp. 1,000 $200K No change
Options reported separately and not counted above: TLT puts ($38.3M), QQQ puts ($33.8M), SOXX puts ($21.6M), NVDA puts ($200K).
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ HII Huntington Ingalls Industrie Reduce -0.2% 8.16% −3.68 QCOM Qualcomm Inc. Sold out 0.00% −3.50 BTI British American Tob-SP ADR Reduce -39.5% 4.28% −2.86 CNQ Canadian Natural Resources Reduce -3.0% 3.51% −1.25 BSM Black Stone Minerals LP Reduce -2.8% 6.56% −1.23 UBER Uber Technologies Inc. Reduce -1.6% 8.91% −0.72 EPD Enterprise Products Partners Reduce -2.6% 4.90% −0.62 MCK McKesson Corp. Reduce -2.5% 2.05% −0.52 INVX Innovex International Inc. Reduce -4.2% 3.81% −0.36 CACI Caci International Inc. Class A Reduce -4.7% 0.87% −0.27 SII Sprott Inc. Sold out 0.00% −0.23 PM Philip Morris International Reduce -4.3% 5.27% −0.10 BRK.B Berkshire Hathaway Inc. Class B Reduce -12.6% 0.11% −0.02 IMPP Imperial Petroleum Inc. Sold out 0.00% −0.01 QVCAQ QVC Group Inc. Sold out 0.00% −0.01 SOLV Solventum Corp. Reduce -10.1% 2.07% −0.01 TFIN Triumph Financial Inc. Reduce -0.0% 6.86% +1.14 MOH Molina Healthcare Inc. Reduce -1.2% 13.38% +4.96
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ GLDM SPDR Gold Minishares Trust New 4.96% +4.96 WSE Wise Group PLC Class A New 2.95% +2.95 PHG Koninklijke Philips NVR- NY Add +66.9% 5.94% +2.11 BAX Baxter International Inc. Add +15.7% 4.88% +1.33 SHV iShares 0-1 Year Treasury Bo Add +16.1% 1.15% +0.09 DEO Diageo PLC-Sponsored ADR New 0.08% +0.08 NU Nu Holdings Ltd./Cayman Isl-A Add +17.0% 4.26% +0.08 SCHD Schwab US DVD Equity ETF New 0.06% +0.06 SPRY Ars Pharmaceuticals Inc. Add +4.0% 0.76% −0.02 LBRDK Liberty Broadband-C Add +1.9% 4.03% −2.34
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ TLT iShares 20+ Year Treasury BD put Reduce -3.8% 443,200 $38.3M QQQ Invesco QQQ Trust Series 1 put New 45,900 $33.8M SOXX iShares Semiconductor ETF put New 33,700 $21.6M GLD SPDR Gold Shares call Sold out 25,000 $10.8Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 27 $393.5M MOH, UBER, HII, TFIN, BSM Q1 2026 27 $369.0M HII, UBER, MOH, BSM, BTI Q4 2025 26 $357.6M HII, MOH, UBER, BTI, BSM Q3 2025 27 $335.9M UBER, HII, BTI, BSM, MOH Q2 2025 26 $296.7M UBER, HII, BTI, LBRDK, PM Q1 2025 23 $244.4M UBER, BTI, BSM, HII, PM Q4 2024 26 $229.0M UBER, BSM, BTI, HII, IMXI Q3 2024 33 $253.5M UBER, BTI, HII, BSM, LBRDK Q2 2024 33 $290.7M UBER, MCK, BTI, HII, BSM Q1 2024 34 $289.3M UBER, MCK, HII, IMXI, BSM