INVESTMENT MANAGEMENT ASSOCIATES INC /ADV Long-Term Concentrated

Location: Greenwood Village, CO

CIK: 0000052024 · Show all filings

Period: Q4 2024 (← Previous) (Next →)

Filing Date: Feb 3, 2025

Total Value: $229M (100.0% shares, 0.0% debt)

Holdings (27)

UBER UBER TECHNOLOGIES INC 11.4%

Value $26.2M Shares 434,309 Share Price $60.32 Est. Cost/Share $36.93 Unrealized @ Report Date +63.3%

BSM BLACK STONE MINERALS L P 9.8%

Value $22.55M Shares 1,544,182 Share Price $14.60 Est. Cost/Share $13.92 Unrealized @ Report Date —

BTI BRITISH AMERN TOB PLC 9.7%

Value $22.25M Shares 612,517 Share Price $36.32 Est. Cost/Share $34.85 Unrealized @ Report Date +4.2%

HII HUNTINGTON INGALLS INDS INC 9.1%

Value $20.81M Shares 110,107 Share Price $188.97 * Est. Cost/Share $190.94 Unrealized @ Report Date -3.3%

IMXI INTERNATIONAL MNY EXPRESS IN 8.2%

Value $18.73M Shares 899,232 Share Price $20.83 Est. Cost/Share $18.95 Unrealized @ Report Date +9.9%

EPD ENTERPRISE PRODS PARTNERS L 7.4%

Value $16.9M Shares 538,824 Share Price $31.36 Est. Cost/Share $23.01 Unrealized @ Report Date —

LBRDK LIBERTY BROADBAND CORP 7.3%

Value $16.7M Shares 223,440 Share Price $74.76 * Est. Cost/Share $66.42 Unrealized @ Report Date +5.4%

PM PHILIP MORRIS INTL INC 6.8%

Value $15.56M Shares 129,317 Share Price $120.35 * Est. Cost/Share $82.83 Unrealized @ Report Date +40.3%

MCK MCKESSON CORP 6.6%

Value $15.04M Shares 26,398 Share Price $569.91 Est. Cost/Share $174.69 Unrealized @ Report Date +224.9%

TFIN TRIUMPH FINANCIAL INC 3.9%

Value $8.837M Shares 97,237 Share Price $90.88 Est. Cost/Share $75.52 Unrealized @ Report Date +20.3%

CMCSA COMCAST CORP NEW 3.6%

Value $8.329M Shares 221,933 Share Price $37.53 * Est. Cost/Share $31.41 Unrealized @ Report Date +15.1%

DXC DXC TECHNOLOGY CO 3.4%

Value $7.704M Shares 385,585 Share Price $19.98 Est. Cost/Share $24.62 Unrealized @ Report Date -18.8%

CNQ CANADIAN NAT RES LTD 3.3%

Value $7.603M Shares 246,288 Share Price $30.87 * Est. Cost/Share $34.19 Unrealized @ Report Date -12.1%

SOLV SOLVENTUM CORP 3.3%

Value $7.539M Shares 114,123 Share Price $66.06 Est. Cost/Share $60.70 Unrealized @ Report Date +8.8%

BRK/B BERKSHIRE HATHAWAY INC DEL 2.0%

Value $4.546M Shares 10,029 Share Price $453.29 Est. Cost/Share $247.47 Unrealized @ Report Date +83.2%

MUB ISHARES TR 1.5%

Value $3.537M Shares 33,191 Share Price $106.55 Est. Cost/Share $106.67 Unrealized @ Report Date -0.1%

SHV ISHARES TR 0.7%

Value $1.628M Shares 14,788 Share Price $110.11 Est. Cost/Share $110.34 Unrealized @ Report Date -0.2%

LMT LOCKHEED MARTIN CORP 0.6%

Value $1.341M Shares 2,760 Share Price $485.96 * Est. Cost/Share $313.87 Unrealized @ Report Date +50.4%

CAH CARDINAL HEALTH INC 0.4%

Value $834K Shares 7,054 Share Price $118.27 Est. Cost/Share $47.96 Unrealized @ Report Date +142.5%

— QURATE RETAIL INC 0.3%

Value $785K Shares 2,380,271 Share Price $0.33 Est. Cost/Share $5.56 Unrealized @ Report Date —

NVDA NVIDIA CORPORATION 0.2%

Value $407K Shares 3,030 Share Price $134.29 Est. Cost/Share $118.07 Unrealized @ Report Date +13.7%

SKT TANGER INC 0.2%

Value $348K Shares 10,185 Share Price $34.13 Est. Cost/Share $28.66 Unrealized @ Report Date —

AAPL APPLE INC 0.1%

Value $309K Shares 1,235 Share Price $250.36 Est. Cost/Share $221.95 Unrealized @ Report Date +12.3%

ARCC ARES CAPITAL CORP 0.1%

Value $272K Shares 12,413 Share Price $21.89 * Est. Cost/Share $9.71 Unrealized @ Report Date +106.2%

COST COSTCO WHSL CORP NEW 0.1%

Value $229K Shares 250 Share Price $916.27 Est. Cost/Share $861.91 Unrealized @ Report Date +5.8%

SPY SPDR S&P 500 ETF TR 0.0%

Value $101K Shares 589,100 Share Price $0.17 Est. Cost/Share — Unrealized @ Report Date —

ABEV AMBEV SA 0.0%

Value $27,750 Shares 15,000 Share Price $1.85 Est. Cost/Share $3.00 Unrealized @ Report Date -38.4%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
UBER	UBER TECHNOLOGIES INC	434,309	$26.2M	11.4%	$60.32	$36.93	+63.3%	COM	90353T100
BSM	BLACK STONE MINERALS L P	1,544,182	$22.55M	9.8%	$14.60	$13.92	—	COM UNIT	09225M101
BTI	BRITISH AMERN TOB PLC	612,517	$22.25M	9.7%	$36.32	$34.85	+4.2%	SPONSORED ADR	110448107
HII	HUNTINGTON INGALLS INDS INC	110,107	$20.81M	9.1%	$188.97 *	$190.94	-3.3%	COM	446413106
IMXI	INTERNATIONAL MNY EXPRESS IN	899,232	$18.73M	8.2%	$20.83	$18.95	+9.9%	COM	46005L101
EPD	ENTERPRISE PRODS PARTNERS L	538,824	$16.9M	7.4%	$31.36	$23.01	—	COM	293792107
LBRDK	LIBERTY BROADBAND CORP	223,440	$16.7M	7.3%	$74.76 *	$66.42	+5.4%	COM SER C	530307305
PM	PHILIP MORRIS INTL INC	129,317	$15.56M	6.8%	$120.35 *	$82.83	+40.3%	COM	718172109
MCK	MCKESSON CORP	26,398	$15.04M	6.6%	$569.91	$174.69	+224.9%	COM	58155Q103
TFIN	TRIUMPH FINANCIAL INC	97,237	$8.837M	3.9%	$90.88	$75.52	+20.3%	COM	89679E300
CMCSA	COMCAST CORP NEW	221,933	$8.329M	3.6%	$37.53 *	$31.41	+15.1%	CL A	20030N101
DXC	DXC TECHNOLOGY CO	385,585	$7.704M	3.4%	$19.98	$24.62	-18.8%	COM	23355L106
CNQ	CANADIAN NAT RES LTD	246,288	$7.603M	3.3%	$30.87 *	$34.19	-12.1%	COM	136385101
SOLV	SOLVENTUM CORP	114,123	$7.539M	3.3%	$66.06	$60.70	+8.8%	COM SHS	83444M101
BRK/B	BERKSHIRE HATHAWAY INC DEL	10,029	$4.546M	2.0%	$453.29	$247.47	+83.2%	CL B NEW	084670702
MUB	ISHARES TR	33,191	$3.537M	1.5%	$106.55	$106.67	-0.1%	NATIONAL MUN ETF	464288414
SHV	ISHARES TR	14,788	$1.628M	0.7%	$110.11	$110.34	-0.2%	SHORT TREAS BD	464288679
LMT	LOCKHEED MARTIN CORP	2,760	$1.341M	0.6%	$485.96 *	$313.87	+50.4%	COM	539830109
CAH	CARDINAL HEALTH INC	7,054	$834K	0.4%	$118.27	$47.96	+142.5%	COM	14149Y108
—	QURATE RETAIL INC	2,380,271	$785K	0.3%	$0.33	$5.56	—	COM SER A	74915M100
NVDA	NVIDIA CORPORATION	3,030	$407K	0.2%	$134.29	$118.07	+13.7%	COM	67066G104
SKT	TANGER INC	10,185	$348K	0.2%	$34.13	$28.66	—	COM	875465106
AAPL	APPLE INC	1,235	$309K	0.1%	$250.36	$221.95	+12.3%	COM	037833100
ARCC	ARES CAPITAL CORP	12,413	$272K	0.1%	$21.89 *	$9.71	+106.2%	COM	04010L103
COST	COSTCO WHSL CORP NEW	250	$229K	0.1%	$916.27	$861.91	+5.8%	COM	22160K105
SPY	SPDR S&P 500 ETF TR	589,100	$101K	0.0%	$0.17	—	—	Put	78462F103
ABEV	AMBEV SA	15,000	$27,750	0.0%	$1.85	$3.00	-38.4%	SPONSORED ADR	02319V103