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IMA

Investment Management Associates Portfolio holdings

AUM $487M
1-Year Est. Return 11.51%
This Fund
S&P 500
This Quarter Est. Return
+1.73%
1 Year Est. Return
+11.51%
3 Year Est. Return
+51.65%
5 Year Est. Return
+61.08%
10 Year Est. Return
–
AUM
$363M
AUM Growth
+$23.2M
Cap. Flow
+$15.2M
Cap. Flow %
4.19%
Top 10 Hldgs %
71.98%
Holding
32
New
2
Increased
10
Reduced
12
Closed
4

Top Buys

Rank Stock Value
1
MOH icon
Molina Healthcare
MOH
+$19.7M
2
LBRDK icon
Liberty Broadband Class C
LBRDK
+$8.5M
3
NU icon
Nu Holdings
NU
+$6.92M
4
CMCSA icon
Comcast
CMCSA
+$6.3M
5
TFIN icon
Triumph Financial Inc
TFIN
+$4.86M

Top Sells

Rank Stock Value
1
BTI icon
British American Tobacco
BTI
+$6.54M
2
SOLV icon
Solventum
SOLV
+$6.04M
3
MCK icon
McKesson
MCK
+$5.74M
4
HUM icon
Humana
HUM
+$5.19M
5
ELV icon
Elevance Health
ELV
+$4.24M

Sector Composition

Rank Sector Weight
1 Healthcare 22.11%
2 Energy 18.82%
3 Consumer Staples 12.42%
4 Technology 12.21%
5 Industrials 10.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GDX icon
26
VanEck Gold Miners ETF
GDX
$27.8B
$300K 0.08%
3,500
– –
TLT icon
27
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$250K 0.07%
460,500
+800
+0.2% +$71.5K
QVCGA
28
DELISTED
QVC Group Inc Series A
QVCGA
$224K 0.06%
21,369
-27,230
-56% -$296K
ELV icon
29
Elevance Health
ELV
$86.1B
– –
-13,108
Closed -$4.24M
HUM icon
30
Humana
HUM
$46.3B
– –
-19,966
Closed -$5.19M
MUB icon
31
iShares National Muni Bond ETF
MUB
$45.9B
– –
-33,191
Closed -$3.53M
SPY icon
32
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$810B
– –
-296,900
Closed -$551K
1
2

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Investment Management Associates's Q4 2025 Portfolio in Review

As of Q4 2025, Investment Management Associates held 32 positions worth $363M, up 6.8% from $339M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Investment Management Associates deployed $15.2M of net new capital in Q4 2025, opening 2 new positions and adding to 10 existing holdings. Its largest new stake was ARS Pharmaceuticals: 311,503 shares worth $3.63M.

By sector, the portfolio is most concentrated in Healthcare at 22% of assets, down from 23% a quarter earlier, followed by Energy and Consumer Staples.

On the sell side, the largest reduction was British American Tobacco, an estimated $6.54M trimmed.

  • Investment Management Associates's largest Q4 2025 buy was ARS Pharmaceuticals: 311,503 shares worth $3.63M.
  • Investment Management Associates added most to Molina Healthcare in Q4 2025, an estimated $19.7M increase.
  • Investment Management Associates's biggest Q4 2025 reduction was British American Tobacco, cutting an estimated $6.54M.
  • Investment Management Associates fully exited Humana in Q4 2025, selling an estimated $5.19M.
  • Investment Management Associates's ten largest holdings make up 72% of its $363M portfolio in Q4 2025.
  • Investment Management Associates opened 2 new positions and closed 4 in Q4 2025.
  • Investment Management Associates's portfolio value rose 6.8% quarter-over-quarter to $363M.

Based on Investment Management Associates's 13F filing for Q4 2025, filed 3 Feb 2026.