Q3 2025 · 13F-HR
ADVISORY RESEARCH INCholdings as filed
Filed 2025-11-13 · accession 0000902584-25-000004
$761.4M
Reported value
149
Positions
2025-09-30
Period end
The Brief · ADVISORY RESEARCH INC · Q3 2025
AI · grounded in 13F
ADVISORY RESEARCH INC established a new position in TSM worth $29.3M. The fund also initiated new stakes in OPLN for $29.3M and TRS for $29M. Other new additions include PM at $28.4M and AVGO at $28.3M. The fund currently manages 149 positions with a total AUM of $761.4M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $29.3M | 3.85% | 104,970 | Common | SOLE |
| 48238T109 | OPLN | OPENLANE INC | $29.3M | 3.85% | 1,017,631 | Common | SOLE |
| 896215209 | TRS | TRIMAS CORP | $29.0M | 3.81% | 750,588 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $28.4M | 3.73% | 175,267 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $28.3M | 3.71% | 85,729 | Common | SOLE |
| 077347300 | BELFB | BEL FUSE INC | $27.3M | 3.58% | 193,560 | Common | SOLE |
| 233912104 | DJCO | DAILY JOURNAL CORP | $26.7M | 3.51% | 57,467 | Common | SOLE |
| 92552R406 | PRSU | PURSUIT ATTRACTIONS AND HOSP | $26.3M | 3.45% | 726,784 | Common | SOLE |
| 876030107 | TPR | TAPESTRY INC | $25.8M | 3.39% | 228,107 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $22.3M | 2.93% | 91,920 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $21.6M | 2.84% | 41,750 | Common | SOLE |
| 552848103 | MTG | MGIC INVT CORP WIS | $21.3M | 2.79% | 750,072 | Common | SOLE |
| 477839104 | JBTM | JBT MAREL CORPORATION | $18.5M | 2.44% | 132,071 | Common | SOLE |
| 52472M101 | LEGH | LEGACY HOUSING CORP | $18.1M | 2.38% | 658,371 | Common | SOLE |
| 12572Q105 | CME | CME GROUP INC | $16.5M | 2.17% | 61,097 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $16.2M | 2.13% | 70,001 | Common | SOLE |
| 71880K101 | PHIN | PHINIA INC | $15.7M | 2.07% | 273,930 | Common | SOLE |
| 025537101 | AEP | AMERICAN ELEC PWR CO INC | $15.0M | 1.97% | 133,649 | Common | SOLE |
| 71377A103 | PFGC | PERFORMANCE FOOD GROUP CO | $14.7M | 1.93% | 141,175 | Common | SOLE |
| 37733W204 | GSK | GSK PLC | $13.7M | 1.80% | 316,764 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $12.3M | 1.62% | 16,802 | Common | SOLE |
| 628464109 | MYE | MYERS INDS INC | $12.0M | 1.57% | 706,080 | Common | SOLE |
| 26210V102 | DRVN | DRIVEN BRANDS HLDGS INC | $10.7M | 1.41% | 665,753 | Common | SOLE |
| 48241A105 | KB | KB FINL GROUP INC | $10.0M | 1.31% | 120,510 | Common | SOLE |
| 443510607 | HUBB | HUBBELL INC | $9.9M | 1.29% | 22,909 | Common | SOLE |
| 49271V100 | KDP | KEURIG DR PEPPER INC | $9.6M | 1.27% | 377,730 | Common | SOLE |
| 29103W104 | EEX | EMERALD HOLDING INC | $9.0M | 1.19% | 1,776,142 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $8.1M | 1.07% | 185,405 | Common | SOLE |
| 31488V107 | FERG | FERGUSON ENTERPRISES INC | $7.4M | 0.97% | 32,809 | Common | SOLE |
| 512816109 | LAMR | LAMAR ADVERTISING CO NEW | $7.2M | 0.95% | 59,135 | Common | SOLE |
| 43538H103 | HLLY | HOLLEY INC | $7.1M | 0.93% | 2,250,000 | Common | SOLE |
| 904767704 | — | UNILEVER PLC | $6.4M | 0.83% | 107,227 | Common | SOLE |
| 65406E102 | NIC | NICOLET BANKSHARES INC | $5.7M | 0.74% | 42,076 | Common | SOLE |
| 46436E718 | SGOV | ISHARES TR | $5.1M | 0.68% | 51,127 | Common | SOLE |
| 84472E102 | SSB | SOUTHSTATE BK CORP | $4.7M | 0.62% | 47,870 | Common | SOLE |
| 438128308 | HMC | HONDA MOTOR LTD | $4.5M | 0.59% | 144,865 | Common | SOLE |
| 92206C102 | VGSH | VANGUARD SCOTTSDALE FDS | $4.1M | 0.54% | 69,657 | Common | SOLE |
| 957638109 | WAL | WESTERN ALLIANCE BANCORP | $4.0M | 0.53% | 46,660 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $4.0M | 0.52% | 9,806 | Common | SOLE |
| 464288679 | SHV | ISHARES TR | $4.0M | 0.52% | 35,758 | Common | SOLE |
| 92206C870 | VCIT | VANGUARD SCOTTSDALE FDS | $3.7M | 0.49% | 44,466 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORP | $3.7M | 0.49% | 27,633 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $3.6M | 0.47% | 12,676 | Common | SOLE |
| Y1968P121 | DAC | DANAOS CORPORATION | $3.5M | 0.46% | 38,727 | Common | SOLE |
| 01644J108 | ALKT | ALKAMI TECHNOLOGY INC | $3.4M | 0.45% | 137,205 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $3.4M | 0.44% | 5,529 | Common | SOLE |
| 077347201 | BELFA | BEL FUSE INC | $3.3M | 0.43% | 28,250 | Common | SOLE |
| 26969P108 | EXP | EAGLE MATLS INC | $3.2M | 0.43% | 13,944 | Common | SOLE |
| 039653100 | ACA | ARCOSA INC | $3.2M | 0.41% | 33,625 | Common | SOLE |
| 464288638 | IGIB | ISHARES TR | $3.1M | 0.41% | 57,761 | Common | SOLE |
| 858119100 | STLD | STEEL DYNAMICS INC | $3.1M | 0.41% | 22,353 | Common | SOLE |
| 724479100 | PBI | PITNEY BOWES INC | $3.1M | 0.41% | 272,687 | Common | SOLE |
| 043436104 | ABG | ASBURY AUTOMOTIVE GROUP INC | $3.1M | 0.41% | 12,649 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $3.1M | 0.40% | 38,557 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $3.0M | 0.39% | 11,785 | Common | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN CORP | $2.8M | 0.37% | 5,706 | Common | SOLE |
| 749527107 | 1RG | REV GROUP INC | $2.8M | 0.37% | 49,955 | Common | SOLE |
| 947890109 | WBS | WEBSTER FINL CORP | $2.8M | 0.37% | 47,532 | Common | SOLE |
| 110448107 | BTI | BRITISH AMERN TOB PLC | $2.7M | 0.36% | 51,468 | Common | SOLE |
| 320817109 | FRME | FIRST MERCHANTS CORP | $2.7M | 0.36% | 72,348 | Common | SOLE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $2.7M | 0.36% | 11,025 | Common | SOLE |
| 92047W101 | VVV | VALVOLINE INC | $2.7M | 0.36% | 75,299 | Common | SOLE |
| 03990B101 | ARES | ARES MANAGEMENT CORPORATION | $2.7M | 0.35% | 16,903 | Common | SOLE |
| 031162100 | AMGN | AMGEN INC | $2.7M | 0.35% | 9,444 | Common | SOLE |
| P73684113 | OSW | ONESPAWORLD HOLDINGS LIMITED | $2.7M | 0.35% | 125,618 | Common | SOLE |
| 64110D104 | NTAP | NETAPP INC | $2.6M | 0.34% | 21,926 | Common | SOLE |
| 921908844 | VIG | VANGUARD SPECIALIZED FUNDS | $2.5M | 0.33% | 11,658 | Common | SOLE |
| 29084Q100 | EME | EMCOR GROUP INC | $2.5M | 0.33% | 3,857 | Common | SOLE |
| 609027107 | MCRI | MONARCH CASINO & RESORT INC | $2.5M | 0.33% | 23,567 | Common | SOLE |
| 60871R209 | TAP | MOLSON COORS BEVERAGE CO | $2.5M | 0.32% | 54,195 | Common | SOLE |
| 47233W109 | JEF | JEFFERIES FINL GROUP INC | $2.3M | 0.31% | 35,660 | Common | SOLE |
| 05465C100 | AX | AXOS FINANCIAL INC | $2.3M | 0.31% | 27,469 | Common | SOLE |
| 92203C303 | VUSB | VANGUARD BD INDEX FDS | $2.3M | 0.30% | 45,375 | Common | SOLE |
| 63947X101 | NCNO | NCINO INC | $2.3M | 0.30% | 83,668 | Common | SOLE |
| 053332102 | AZO | AUTOZONE INC | $2.2M | 0.29% | 520 | Common | SOLE |
| 42226A107 | HQY | HEALTHEQUITY INC | $2.1M | 0.28% | 22,292 | Common | SOLE |
| 29261A100 | EHC | ENCOMPASS HEALTH CORP | $2.1M | 0.27% | 16,183 | Common | SOLE |
| 464288646 | IGSB | ISHARES TR | $2.0M | 0.26% | 36,890 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $1.9M | 0.25% | 6,147 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $1.9M | 0.25% | 9,972 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $1.7M | 0.23% | 33,517 | Common | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $1.7M | 0.22% | 10,524 | Common | SOLE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $1.7M | 0.22% | 5,071 | Common | SOLE |
| 464288588 | MBB | ISHARES TR | $1.7M | 0.22% | 17,518 | Common | SOLE |
| 91879Q109 | MTN | VAIL RESORTS INC | $1.7M | 0.22% | 11,080 | Common | SOLE |
| 12514G108 | CDW | CDW CORP | $1.6M | 0.21% | 9,983 | Common | SOLE |
| 302492103 | FLYW | FLYWIRE CORPORATION | $1.6M | 0.21% | 116,295 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $1.6M | 0.21% | 10,869 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.5M | 0.20% | 3,071 | Common | SOLE |
| 28618M106 | ESI | ELEMENT SOLUTIONS INC | $1.5M | 0.20% | 60,298 | Common | SOLE |
| 861025104 | SYBT | STOCK YDS BANCORP INC | $1.5M | 0.19% | 20,973 | Common | SOLE |
| 165303108 | CPK | CHESAPEAKE UTILS CORP | $1.5M | 0.19% | 10,840 | Common | SOLE |
| 922908629 | VO | VANGUARD INDEX FDS | $1.5M | 0.19% | 4,966 | Common | SOLE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $1.4M | 0.19% | 24,026 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $1.4M | 0.19% | 5,962 | Common | SOLE |
| G39108108 | GTES | GATES INDL CORP PLC | $1.4M | 0.18% | 56,201 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $1.4M | 0.18% | 8,834 | Common | SOLE |
| 39874R101 | GO | GROCERY OUTLET HLDG CORP | $1.3M | 0.18% | 83,315 | Common | SOLE |
| 91529Y106 | UNM | UNUM GROUP | $1.3M | 0.17% | 16,410 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $1.3M | 0.17% | 4,198 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $1.2M | 0.16% | 8,899 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS | $1.1M | 0.15% | 12,057 | Common | SOLE |
| G6700G107 | NVT | NVENT ELECTRIC PLC | $1.1M | 0.14% | 11,145 | Common | SOLE |
| 758750103 | RRX | REGAL REXNORD CORPORATION | $1.1M | 0.14% | 7,483 | Common | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST | $1.1M | 0.14% | 10,683 | Common | SOLE |
| 01973R101 | ALSN | ALLISON TRANSMISSION HLDGS I | $1.0M | 0.13% | 12,069 | Common | SOLE |
| 431571108 | 9HI | HILLENBRAND INC | $1.0M | 0.13% | 37,868 | Common | SOLE |
| G3934V109 | GENI | GENIUS SPORTS LIMITED | $1.0M | 0.13% | 82,675 | Common | SOLE |
| 00108J109 | ACMR | ACM RESH INC | $1.0M | 0.13% | 25,935 | Common | SOLE |
| 576485205 | MTDR | MATADOR RES CO | $971,791 | 0.13% | 21,629 | Common | SOLE |
| 464287457 | SHY | ISHARES TR | $926,746 | 0.12% | 11,171 | Common | SOLE |
| 868459108 | SUPN | SUPERNUS PHARMACEUTICALS INC | $910,591 | 0.12% | 19,054 | Common | SOLE |
| 90278Q108 | UFPI | UFP INDUSTRIES INC | $908,349 | 0.12% | 9,716 | Common | SOLE |
| 07831C103 | BRBR | BELLRING BRANDS INC | $897,591 | 0.12% | 24,693 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $895,794 | 0.12% | 2,594 | Common | SOLE |
| 093671105 | HRB | BLOCK H & R INC | $851,447 | 0.11% | 16,837 | Common | SOLE |
| G3922B107 | G | GENPACT LIMITED | $822,887 | 0.11% | 19,644 | Common | SOLE |
| 09260D107 | BX | BLACKSTONE INC | $797,357 | 0.10% | 4,667 | Common | SOLE |
| 966084204 | WSR | WHITESTONE REIT | $779,755 | 0.10% | 63,498 | Common | SOLE |
| 703343103 | PATK | PATRICK INDS INC | $766,209 | 0.10% | 7,408 | Common | SOLE |
| 103304101 | BYD | BOYD GAMING CORP | $736,468 | 0.10% | 8,519 | Common | SOLE |
| 743312100 | PRGS | PROGRESS SOFTWARE CORP | $668,131 | 0.09% | 15,209 | Common | SOLE |
| 453204109 | PI | IMPINJ INC | $664,979 | 0.09% | 3,679 | Common | SOLE |
| 04010L103 | ARCC | ARES CAPITAL CORP | $656,814 | 0.09% | 32,181 | Common | SOLE |
| 359694106 | FUL | FULLER H B CO | $631,688 | 0.08% | 10,656 | Common | SOLE |
| 006739106 | ADUS | ADDUS HOMECARE CORP | $629,713 | 0.08% | 5,337 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $581,575 | 0.08% | 873 | Common | SOLE |
| 808625107 | SAIC | SCIENCE APPLICATIONS INTL CO | $502,912 | 0.07% | 5,061 | Common | SOLE |
| 759509102 | RS | RELIANCE INC | $500,362 | 0.07% | 1,782 | Common | SOLE |
| 004498101 | ACIW | ACI WORLDWIDE INC | $493,505 | 0.06% | 9,352 | Common | SOLE |
| 84857L101 | SR | SPIRE INC | $486,104 | 0.06% | 5,963 | Common | SOLE |
| G8588X103 | SGHC | SUPER GROUP SGHC LIMITED | $472,098 | 0.06% | 35,765 | Common | SOLE |
| 690742101 | OC | OWENS CORNING NEW | $462,574 | 0.06% | 3,270 | Common | SOLE |
| 03209R103 | AMPH | AMPHASTAR PHARMACEUTICALS IN | $412,222 | 0.05% | 15,468 | Common | SOLE |
| 464288257 | ACWI | ISHARES TR | $391,007 | 0.05% | 2,828 | Common | SOLE |
| 138103106 | UTE0 | CANTALOUPE INC | $363,080 | 0.05% | 34,350 | Common | NONE |
| 09261X102 | BXSL | BLACKSTONE SECD LENDING FD | $322,095 | 0.04% | 12,355 | Common | SOLE |
| 783754104 | RYZ | RYERSON HLDG CORP | $291,076 | 0.04% | 12,733 | Common | SOLE |
| 83012A109 | TSLX | SIXTH STREET SPECIALTY LENDI | $236,327 | 0.03% | 10,338 | Common | SOLE |
| 74348A467 | NOBL | PROSHARES TR | $229,949 | 0.03% | 2,231 | Common | SOLE |
| 427096508 | HTGC | HERCULES CAPITAL INC | $223,819 | 0.03% | 11,836 | Common | SOLE |
| 56035L104 | MAIN | MAIN STR CAP CORP | $220,721 | 0.03% | 3,471 | Common | SOLE |
| 316500107 | FDUS | FIDUS INVT CORP | $210,765 | 0.03% | 10,403 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $205,994 | 0.03% | 811 | Common | SOLE |
| 22978P106 | CUE1EUR | CUE BIOPHARMA INC | $184,868 | 0.02% | 257,225 | Common | SOLE |
| 302635206 | FSK | FS KKR CAP CORP | $150,151 | 0.02% | 10,057 | Common | SOLE |
| 872280102 | CGBD | CARLYLE SECURED LENDING INC | $141,750 | 0.02% | 11,340 | Common | SOLE |
| 04965B100 | ATOM | ATOMERA INC | $88,400 | 0.01% | 20,000 | Common | SOLE |
| 42238H108 | BEAT | HEARTBEAM INC | $82,500 | 0.01% | 50,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.