Q2 2025 · 13F-HR
ADVISORY RESEARCH INCholdings as filed
Filed 2025-08-13 · accession 0001085146-25-005021
$650.9M
Reported value
142
Positions
2025-06-30
Period end
The Brief · ADVISORY RESEARCH INC · Q2 2025
AI · grounded in 13F
ADVISORY RESEARCH INC established a new position in BELFB valued at $38.2M. The fund also initiated new stakes in TRS for $29.9M and PM for $26.8M. Additional new positions include AVGO at $23.4M and TSM at $21.9M. The fund ended the period with 142 positions and total AUM of $650.9M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 077347300 | BELFB | BEL FUSE INC | $38.2M | 5.87% | 390,858 | Common | SOLE |
| 896215209 | TRS | TRIMAS CORP | $29.9M | 4.60% | 1,046,803 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $26.8M | 4.11% | 146,974 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $23.4M | 3.60% | 85,046 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $21.9M | 3.36% | 96,601 | Common | SOLE |
| 48238T109 | OPLN | OPENLANE INC | $20.5M | 3.15% | 839,231 | Common | SOLE |
| 92552R406 | PRSU | PURSUIT ATTRACTIONS AND HOSP | $18.1M | 2.78% | 626,784 | Common | SOLE |
| 552848103 | MTG | MGIC INVT CORP WIS | $17.9M | 2.76% | 644,742 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $16.1M | 2.48% | 32,430 | Common | SOLE |
| 477839104 | JBTM | JBT MAREL CORPORATION | $16.1M | 2.47% | 133,861 | Common | SOLE |
| 233912104 | DJCO | DAILY JOURNAL CORP | $16.0M | 2.45% | 37,840 | Common | SOLE |
| 876030107 | TPR | TAPESTRY INC | $15.4M | 2.37% | 175,360 | Common | SOLE |
| 52472M101 | LEGH | LEGACY HOUSING CORP | $14.9M | 2.29% | 658,507 | Common | SOLE |
| 71880K101 | PHIN | PHINIA INC | $14.7M | 2.25% | 329,517 | Common | SOLE |
| 12572Q105 | CME | CME GROUP INC | $14.1M | 2.17% | 51,236 | Common | SOLE |
| 840441109 | SSBUSD | SOUTHSTATE CORPORATION | $13.5M | 2.08% | 146,929 | Common | SOLE |
| 71377A103 | PFGC | PERFORMANCE FOOD GROUP CO | $12.6M | 1.94% | 144,245 | Common | SOLE |
| 025537101 | AEP | AMERICAN ELEC PWR CO INC | $11.8M | 1.81% | 113,717 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $11.2M | 1.71% | 60,121 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $11.0M | 1.69% | 62,422 | Common | SOLE |
| 49271V100 | KDP | KEURIG DR PEPPER INC | $11.0M | 1.68% | 331,468 | Common | SOLE |
| 26969P108 | EXP | EAGLE MATLS INC | $9.9M | 1.52% | 48,944 | Common | SOLE |
| 37733W204 | GSK | GSK PLC | $9.2M | 1.42% | 240,421 | Common | SOLE |
| 29103W104 | EEX | EMERALD HOLDING INC | $8.6M | 1.32% | 1,776,142 | Common | SOLE |
| 443510607 | HUBB | HUBBELL INC | $8.1M | 1.25% | 19,921 | Common | SOLE |
| 48241A105 | KB | KB FINL GROUP INC | $8.1M | 1.24% | 97,765 | Common | SOLE |
| 46436E718 | SGOV | ISHARES TR | $7.9M | 1.22% | 78,797 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $7.5M | 1.15% | 24,043 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $6.8M | 1.05% | 157,709 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $6.7M | 1.03% | 32,641 | Common | SOLE |
| 31488V107 | FERG | FERGUSON ENTERPRISES INC | $6.7M | 1.03% | 30,657 | Common | SOLE |
| 512816109 | LAMR | LAMAR ADVERTISING CO NEW | $6.3M | 0.96% | 51,550 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $6.0M | 0.93% | 8,185 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $6.0M | 0.92% | 21,040 | Common | SOLE |
| 904767704 | — | UNILEVER PLC | $5.3M | 0.82% | 86,777 | Common | SOLE |
| 65406E102 | NIC | NICOLET BANKSHARES INC | $5.3M | 0.81% | 42,582 | Common | SOLE |
| 464288679 | SHV | ISHARES TR | $4.6M | 0.71% | 42,103 | Common | SOLE |
| 92206C102 | VGSH | VANGUARD SCOTTSDALE FDS | $4.1M | 0.63% | 69,657 | Common | SOLE |
| 92206C870 | VCIT | VANGUARD SCOTTSDALE FDS | $3.7M | 0.56% | 44,228 | Common | SOLE |
| 438128308 | HMC | HONDA MOTOR LTD | $3.6M | 0.55% | 124,893 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $3.5M | 0.54% | 9,626 | Common | SOLE |
| 957638109 | WAL | WESTERN ALLIANCE BANCORP | $3.5M | 0.54% | 44,830 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $3.5M | 0.54% | 6,142 | Common | SOLE |
| 749527107 | 1RG | REV GROUP INC | $3.5M | 0.53% | 72,570 | Common | SOLE |
| Y1968P121 | DAC | DANAOS CORPORATION | $3.2M | 0.49% | 36,815 | Common | SOLE |
| 464288638 | IGIB | ISHARES TR | $3.1M | 0.47% | 57,761 | Common | SOLE |
| 043436104 | ABG | ASBURY AUTOMOTIVE GROUP INC | $3.1M | 0.47% | 12,841 | Common | SOLE |
| 724479100 | PBI | PITNEY BOWES INC | $3.0M | 0.46% | 272,687 | Common | SOLE |
| 039653100 | ACA | ARCOSA INC | $2.9M | 0.45% | 33,625 | Common | SOLE |
| 320817109 | FRME | FIRST MERCHANTS CORP | $2.9M | 0.44% | 75,438 | Common | SOLE |
| 92047W101 | VVV | VALVOLINE INC | $2.9M | 0.44% | 75,299 | Common | SOLE |
| 03990B101 | ARES | ARES MANAGEMENT CORPORATION | $2.8M | 0.43% | 16,105 | Common | SOLE |
| 858119100 | STLD | STEEL DYNAMICS INC | $2.8M | 0.43% | 21,668 | Common | SOLE |
| 600551204 | MLR | MILLER INDS INC TENN | $2.7M | 0.41% | 60,752 | Common | SOLE |
| 921908844 | VIG | VANGUARD SPECIALIZED FUNDS | $2.6M | 0.40% | 12,868 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $2.6M | 0.40% | 12,043 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORP | $2.6M | 0.40% | 26,991 | Common | SOLE |
| 947890109 | WBS | WEBSTER FINL CORP | $2.6M | 0.40% | 47,532 | Common | SOLE |
| P73684113 | OSW | ONESPAWORLD HOLDINGS LIMITED | $2.6M | 0.39% | 125,618 | Common | SOLE |
| 077347201 | BELFA | BEL FUSE INC | $2.5M | 0.39% | 28,250 | Common | SOLE |
| 63947X101 | NCNO | NCINO INC | $2.3M | 0.36% | 83,668 | Common | SOLE |
| 42226A107 | HQY | HEALTHEQUITY INC | $2.3M | 0.36% | 22,292 | Common | SOLE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $2.3M | 0.35% | 7,669 | Common | SOLE |
| 520776105 | DSGR | DISTRIBUTION SOLUTIONS GRP I | $2.3M | 0.35% | 82,131 | Common | SOLE |
| 64110D104 | NTAP | NETAPP INC | $2.2M | 0.34% | 21,021 | Common | SOLE |
| 053332102 | AZO | AUTOZONE INC | $2.2M | 0.34% | 590 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $2.1M | 0.32% | 25,912 | Common | SOLE |
| 609027107 | MCRI | MONARCH CASINO & RESORT INC | $2.0M | 0.31% | 23,567 | Common | SOLE |
| 05465C100 | AX | AXOS FINANCIAL INC | $2.0M | 0.31% | 26,445 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $2.0M | 0.31% | 6,872 | Common | SOLE |
| 47233W109 | JEF | JEFFERIES FINL GROUP INC | $2.0M | 0.30% | 35,660 | Common | SOLE |
| 29084Q100 | EME | EMCOR GROUP INC | $1.9M | 0.30% | 3,630 | Common | SOLE |
| 29261A100 | EHC | ENCOMPASS HEALTH CORP | $1.9M | 0.29% | 15,547 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $1.9M | 0.29% | 10,394 | Common | SOLE |
| 01644J108 | ALKT | ALKAMI TECHNOLOGY INC | $1.9M | 0.29% | 62,040 | Common | SOLE |
| 12514G108 | CDW | CDW CORP | $1.8M | 0.28% | 10,352 | Common | SOLE |
| 628464109 | MYE | MYERS INDS INC | $1.8M | 0.27% | 122,495 | Common | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN CORP | $1.8M | 0.27% | 3,798 | Common | SOLE |
| 91879Q109 | MTN | VAIL RESORTS INC | $1.7M | 0.27% | 11,080 | Common | SOLE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $1.7M | 0.26% | 5,301 | Common | SOLE |
| 14808P109 | CASS | CASS INFORMATION SYS INC | $1.7M | 0.26% | 38,439 | Common | SOLE |
| 861025104 | SYBT | STOCK YDS BANCORP INC | $1.7M | 0.25% | 20,973 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $1.6M | 0.25% | 34,812 | Common | SOLE |
| 464288588 | MBB | ISHARES TR | $1.6M | 0.25% | 17,518 | Common | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $1.6M | 0.25% | 10,110 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.6M | 0.24% | 3,198 | Common | SOLE |
| 02553E106 | AEO | AMERICAN EAGLE OUTFITTERS IN | $1.5M | 0.24% | 159,133 | Common | SOLE |
| 28618M106 | ESI | ELEMENT SOLUTIONS INC | $1.4M | 0.22% | 62,927 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $1.4M | 0.22% | 6,185 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $1.4M | 0.22% | 11,399 | Common | SOLE |
| 922908629 | VO | VANGUARD INDEX FDS | $1.4M | 0.21% | 4,902 | Common | SOLE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $1.4M | 0.21% | 23,938 | Common | SOLE |
| 165303108 | CPK | CHESAPEAKE UTILS CORP | $1.4M | 0.21% | 11,307 | Common | SOLE |
| G39108108 | GTES | GATES INDL CORP PLC | $1.4M | 0.21% | 58,687 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $1.3M | 0.20% | 9,209 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $1.3M | 0.20% | 4,395 | Common | SOLE |
| 91529Y106 | UNM | UNUM GROUP | $1.3M | 0.20% | 15,755 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $1.3M | 0.19% | 9,205 | Common | SOLE |
| 758750103 | RRX | REGAL REXNORD CORPORATION | $1.1M | 0.17% | 7,800 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS | $1.1M | 0.17% | 12,592 | Common | SOLE |
| 01973R101 | ALSN | ALLISON TRANSMISSION HLDGS I | $1.1M | 0.17% | 11,612 | Common | SOLE |
| 92203C303 | VUSB | VANGUARD BD INDEX FDS | $1.1M | 0.16% | 21,243 | Common | SOLE |
| 07831C103 | BRBR | BELLRING BRANDS INC | $943,158 | 0.14% | 16,281 | Common | SOLE |
| 576485205 | MTDR | MATADOR RES CO | $942,231 | 0.14% | 19,745 | Common | SOLE |
| 464288646 | IGSB | ISHARES TR | $940,711 | 0.14% | 17,830 | Common | SOLE |
| 743312100 | PRGS | PROGRESS SOFTWARE CORP | $935,064 | 0.14% | 14,647 | Common | SOLE |
| 90278Q108 | UFPI | UFP INDUSTRIES INC | $929,910 | 0.14% | 9,359 | Common | SOLE |
| 464287457 | SHY | ISHARES TR | $925,629 | 0.14% | 11,171 | Common | SOLE |
| 093671105 | HRB | BLOCK H & R INC | $890,316 | 0.14% | 16,220 | Common | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST | $852,272 | 0.13% | 10,277 | Common | SOLE |
| G3934V109 | GENI | GENIUS SPORTS LIMITED | $829,410 | 0.13% | 79,751 | Common | SOLE |
| 453204109 | PI | IMPINJ INC | $791,263 | 0.12% | 7,124 | Common | SOLE |
| G6700G107 | NVT | NVENT ELECTRIC PLC | $782,823 | 0.12% | 10,687 | Common | SOLE |
| 966084204 | WSR | WHITESTONE REIT | $763,639 | 0.12% | 61,189 | Common | SOLE |
| 09260D107 | BX | BLACKSTONE INC | $698,090 | 0.11% | 4,667 | Common | SOLE |
| 04010L103 | ARCC | ARES CAPITAL CORP | $698,086 | 0.11% | 31,789 | Common | SOLE |
| 431571108 | 9HI | HILLENBRAND INC | $686,735 | 0.11% | 34,217 | Common | SOLE |
| 703343103 | PATK | PATRICK INDS INC | $657,977 | 0.10% | 7,131 | Common | SOLE |
| 103304101 | BYD | BOYD GAMING CORP | $641,955 | 0.10% | 8,206 | Common | SOLE |
| 359694106 | FUL | FULLER H B CO | $616,598 | 0.09% | 10,251 | Common | SOLE |
| 006739106 | ADUS | ADDUS HOMECARE CORP | $591,961 | 0.09% | 5,139 | Common | SOLE |
| 868459108 | SUPN | SUPERNUS PHARMACEUTICALS INC | $579,873 | 0.09% | 18,397 | Common | SOLE |
| 783754104 | RYZ | RYERSON HLDG CORP | $563,171 | 0.09% | 26,109 | Common | SOLE |
| 808625107 | SAIC | SCIENCE APPLICATIONS INTL CO | $548,523 | 0.08% | 4,871 | Common | SOLE |
| 759509102 | RS | RELIANCE INC | $545,158 | 0.08% | 1,737 | Common | SOLE |
| 687380105 | ORRF | ORRSTOWN FINL SVCS INC | $503,964 | 0.08% | 15,833 | Common | SOLE |
| 690742101 | OC | OWENS CORNING NEW | $431,950 | 0.07% | 3,141 | Common | SOLE |
| 84857L101 | SR | SPIRE INC | $417,795 | 0.06% | 5,724 | Common | SOLE |
| 138103106 | UTE0 | CANTALOUPE INC | $377,506 | 0.06% | 34,350 | Common | NONE |
| 03209R103 | AMPH | AMPHASTAR PHARMACEUTICALS IN | $342,058 | 0.05% | 14,898 | Common | SOLE |
| 09261X102 | BXSL | BLACKSTONE SECD LENDING FD | $337,604 | 0.05% | 10,979 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $282,975 | 0.04% | 458 | Common | SOLE |
| 83012A109 | TSLX | SIXTH STREET SPECIALTY LENDI | $251,529 | 0.04% | 10,564 | Common | SOLE |
| 74348A467 | NOBL | PROSHARES TR | $224,662 | 0.03% | 2,231 | Common | SOLE |
| 427096508 | HTGC | HERCULES CAPITAL INC | $218,409 | 0.03% | 11,948 | Common | SOLE |
| 302635206 | FSK | FS KKR CAP CORP | $215,260 | 0.03% | 10,374 | Common | SOLE |
| 316500107 | FDUS | FIDUS INVT CORP | $213,595 | 0.03% | 10,574 | Common | SOLE |
| 56035L104 | MAIN | MAIN STR CAP CORP | $209,864 | 0.03% | 3,551 | Common | SOLE |
| 22978P106 | CUE1EUR | CUE BIOPHARMA INC | $175,505 | 0.03% | 257,225 | Common | SOLE |
| 872280102 | CGBD | CARLYLE SECURED LENDING INC | $142,094 | 0.02% | 10,387 | Common | SOLE |
| 04965B100 | ATOM | ATOMERA INC | $100,800 | 0.02% | 20,000 | Common | SOLE |
| 42238H108 | BEAT | HEARTBEAM INC | $62,500 | 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.