13F HOLDINGS REPORT
ADVISORY RESEARCH INC
Quarter ended Q3 2025 · Filed November 13, 2025 · Accession 0000902584-25-000004
Total Value
$761.4M
Positions
182
Other Managers
1
Confidential Omitted
No
Holdings (182)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 104,970 | $29.3M | 3.85% |
| 2 | PHILIP MORRIS INTL INC | 718172109 | 175,267 | $28.4M | 3.73% |
| 3 | BROADCOM INC | AVGO | 85,729 | $28.3M | 3.71% |
| 4 | OPENLANE INC | OPLN | 972,219 | $28.0M | 3.67% |
| 5 | TRIMAS CORP | TRS | 721,552 | $27.9M | 3.66% |
| 6 | BEL FUSE INC | BELFB | 185,875 | $26.2M | 3.44% |
| 7 | TAPESTRY INC | TPR | 228,107 | $25.8M | 3.39% |
| 8 | DAILY JOURNAL CORP | DJCO | 54,713 | $25.4M | 3.34% |
| 9 | PURSUIT ATTRACTIONS AND HOSP | 92552R406 | 692,695 | $25.1M | 3.29% |
| 10 | ALPHABET INC | GOOG | 91,920 | $22.3M | 2.93% |
| 11 | MICROSOFT CORP | MSFT | 41,750 | $21.6M | 2.84% |
| 12 | MGIC INVT CORP WIS | 552848103 | 750,072 | $21.3M | 2.79% |
| 13 | JBT MAREL CORPORATION | JBTM | 125,356 | $17.6M | 2.31% |
| 14 | LEGACY HOUSING CORP | LEGH | 620,985 | $17.1M | 2.24% |
| 15 | CME GROUP INC | CME | 61,097 | $16.5M | 2.17% |
| 16 | ABBVIE INC | ABBV | 70,001 | $16.2M | 2.13% |
| 17 | AMERICAN ELEC PWR CO INC | 025537101 | 133,649 | $15.0M | 1.97% |
| 18 | PHINIA INC | PHIN | 258,055 | $14.8M | 1.95% |
| 19 | GSK PLC | GLAXF | 316,764 | $13.7M | 1.80% |
| 20 | PERFORMANCE FOOD GROUP CO | PFGC | 130,158 | $13.5M | 1.78% |
| 21 | META PLATFORMS INC | META | 16,802 | $12.3M | 1.62% |
| 22 | MYERS INDS INC | 628464109 | 656,500 | $11.1M | 1.46% |
| 23 | DRIVEN BRANDS HLDGS INC | DRVN | 620,798 | $10.0M | 1.31% |
| 24 | KB FINL GROUP INC | 48241A105 | 120,510 | $10.0M | 1.31% |
| 25 | HUBBELL INC | HUBB | 22,909 | $9.9M | 1.29% |
| 26 | KEURIG DR PEPPER INC | KDP | 377,730 | $9.6M | 1.27% |
| 27 | EMERALD HOLDING INC | EEX | 1,623,914 | $8.3M | 1.09% |
| 28 | VERIZON COMMUNICATIONS INC | VZ | 185,405 | $8.1M | 1.07% |
| 29 | FERGUSON ENTERPRISES INC | FERG | 32,809 | $7.4M | 0.97% |
| 30 | LAMAR ADVERTISING CO NEW | LAMR | 59,135 | $7.2M | 0.95% |
| 31 | HOLLEY INC | HLLY-WT | 2,154,200 | $6.8M | 0.89% |
| 32 | UNILEVER PLC | UNLYF | 107,227 | $6.4M | 0.83% |
| 33 | ISHARES TR | 46436E718 | 51,127 | $5.1M | 0.68% |
| 34 | NICOLET BANKSHARES INC | NIC | 33,429 | $4.5M | 0.59% |
| 35 | HONDA MOTOR LTD | HNDAF | 144,865 | $4.5M | 0.59% |
| 36 | VANGUARD SCOTTSDALE FDS | 92206C102 | 69,657 | $4.1M | 0.54% |
| 37 | WESTERN ALLIANCE BANCORP | WAL-PA | 46,660 | $4.0M | 0.53% |
| 38 | SOUTHSTATE BK CORP | 84472E102 | 40,292 | $4.0M | 0.52% |
| 39 | HOME DEPOT INC | HD | 9,806 | $4.0M | 0.52% |
| 40 | ISHARES TR | 464288679 | 35,758 | $4.0M | 0.52% |
| 41 | VANGUARD SCOTTSDALE FDS | 92206C870 | 44,466 | $3.7M | 0.49% |
| 42 | LAM RESEARCH CORP | LRCX | 27,633 | $3.7M | 0.49% |
| 43 | ORACLE CORP | ORCL-PD | 12,676 | $3.6M | 0.47% |
| 44 | DANAOS CORPORATION | DAC | 38,727 | $3.5M | 0.46% |
| 45 | VANGUARD INDEX FDS | 922908363 | 5,529 | $3.4M | 0.44% |
| 46 | BEL FUSE INC | BELFB | 28,250 | $3.3M | 0.43% |
| 47 | ISHARES TR | 464288638 | 57,761 | $3.1M | 0.41% |
| 48 | STEEL DYNAMICS INC | STLD | 22,353 | $3.1M | 0.41% |
| 49 | VANGUARD SCOTTSDALE FDS | 92206C409 | 38,557 | $3.1M | 0.40% |
| 50 | APPLE INC | AAPL | 11,785 | $3.0M | 0.39% |
| 51 | LOCKHEED MARTIN CORP | LMT | 5,706 | $2.8M | 0.37% |
| 52 | BRITISH AMERN TOB PLC | 110448107 | 51,468 | $2.7M | 0.36% |
| 53 | ACCENTURE PLC IRELAND | ACN | 11,025 | $2.7M | 0.36% |
| 54 | ARES MANAGEMENT CORPORATION | ARES-PB | 16,903 | $2.7M | 0.35% |
| 55 | AMGEN INC | AMGN | 9,444 | $2.7M | 0.35% |
| 56 | ASBURY AUTOMOTIVE GROUP INC | ABG | 10,764 | $2.6M | 0.35% |
| 57 | NETAPP INC | NTAP | 21,926 | $2.6M | 0.34% |
| 58 | VANGUARD SPECIALIZED FUNDS | 921908844 | 11,658 | $2.5M | 0.33% |
| 59 | EMCOR GROUP INC | EME | 3,857 | $2.5M | 0.33% |
| 60 | ALKAMI TECHNOLOGY INC | ALKT | 100,060 | $2.5M | 0.33% |
| 61 | MOLSON COORS BEVERAGE CO | TAP-A | 54,195 | $2.5M | 0.32% |
| 62 | EAGLE MATLS INC | 26969P108 | 10,149 | $2.4M | 0.31% |
| 63 | AXOS FINANCIAL INC | AX | 27,469 | $2.3M | 0.31% |
| 64 | ARCOSA INC | ACA | 24,440 | $2.3M | 0.30% |
| 65 | VANGUARD BD INDEX FDS | 92203C303 | 45,375 | $2.3M | 0.30% |
| 66 | AUTOZONE INC | AZO | 520 | $2.2M | 0.29% |
| 67 | PITNEY BOWES INC | PBI-PB | 195,307 | $2.2M | 0.29% |
| 68 | REV GROUP INC | 749527107 | 36,410 | $2.1M | 0.27% |
| 69 | ENCOMPASS HEALTH CORP | EHC | 16,183 | $2.1M | 0.27% |
| 70 | WEBSTER FINL CORP | 947890109 | 34,301 | $2.0M | 0.27% |
| 71 | FIRST MERCHANTS CORP | FRMEP | 53,983 | $2.0M | 0.27% |
| 72 | VALVOLINE INC | VVV | 54,689 | $2.0M | 0.26% |
| 73 | ISHARES TR | 464288646 | 36,890 | $2.0M | 0.26% |
| 74 | JPMORGAN CHASE & CO. | VYLD | 6,147 | $1.9M | 0.25% |
| 75 | ONESPAWORLD HOLDINGS LIMITED | OSW | 89,661 | $1.9M | 0.25% |
| 76 | INVESCO EXCHANGE TRADED FD T | IVZ | 9,972 | $1.9M | 0.25% |
| 77 | MONARCH CASINO & RESORT INC | MCRI | 16,912 | $1.8M | 0.24% |
| 78 | BANK AMERICA CORP | 060505104 | 33,517 | $1.7M | 0.23% |
| 79 | NRG ENERGY INC | NRG | 10,524 | $1.7M | 0.22% |
| 80 | JEFFERIES FINL GROUP INC | 47233W109 | 25,755 | $1.7M | 0.22% |
| 81 | AMERICAN EXPRESS CO | AXP | 5,071 | $1.7M | 0.22% |
| 82 | NCINO INC | NCNO | 61,861 | $1.7M | 0.22% |
| 83 | ISHARES TR | 464288588 | 17,518 | $1.7M | 0.22% |
| 84 | CDW CORP | CDW | 9,983 | $1.6M | 0.21% |
| 85 | TJX COS INC NEW | 872540109 | 10,869 | $1.6M | 0.21% |
| 86 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 3,071 | $1.5M | 0.20% |
| 87 | HEALTHEQUITY INC | HQY | 16,277 | $1.5M | 0.20% |
| 88 | ELEMENT SOLUTIONS INC | ESI | 60,298 | $1.5M | 0.20% |
| 89 | CHESAPEAKE UTILS CORP | 165303108 | 10,840 | $1.5M | 0.19% |
| 90 | VANGUARD INDEX FDS | 922908629 | 4,966 | $1.5M | 0.19% |
| 91 | VANGUARD TAX-MANAGED FDS | 921943858 | 24,026 | $1.4M | 0.19% |
| 92 | UNION PAC CORP | UNP | 5,962 | $1.4M | 0.19% |
| 93 | GATES INDL CORP PLC | G39108108 | 56,201 | $1.4M | 0.18% |
| 94 | CHEVRON CORP NEW | CVX | 8,834 | $1.4M | 0.18% |
| 95 | OPENLANE INC | OPLN | 45,412 | $1.3M | 0.17% |
| 96 | DAILY JOURNAL CORP | DJCO | 2,754 | $1.3M | 0.17% |
| 97 | UNUM GROUP | UNMA | 16,410 | $1.3M | 0.17% |
| 98 | MCDONALDS CORP | MCD | 4,198 | $1.3M | 0.17% |
| 99 | PURSUIT ATTRACTIONS AND HOSP | 92552R406 | 34,089 | $1.2M | 0.16% |
| 100 | VAIL RESORTS INC | MTN | 7,975 | $1.2M | 0.16% |
| 101 | ABBOTT LABS | ABLZF | 8,899 | $1.2M | 0.16% |
| 102 | NICOLET BANKSHARES INC | NIC | 8,647 | $1.2M | 0.15% |
| 103 | FLYWIRE CORPORATION | FLYW | 84,755 | $1.1M | 0.15% |
| 104 | PERFORMANCE FOOD GROUP CO | PFGC | 11,017 | $1.1M | 0.15% |
| 105 | CONOCOPHILLIPS | COP | 12,057 | $1.1M | 0.15% |
| 106 | TRIMAS CORP | TRS | 29,036 | $1.1M | 0.15% |
| 107 | NVENT ELECTRIC PLC | NVT | 11,145 | $1.1M | 0.14% |
| 108 | BEL FUSE INC | BELFB | 7,685 | $1.1M | 0.14% |
| 109 | REGAL REXNORD CORPORATION | RRX | 7,483 | $1.1M | 0.14% |
| 110 | SPDR SERIES TRUST | 78464A870 | 10,683 | $1.1M | 0.14% |
| 111 | LEGACY HOUSING CORP | LEGH | 37,386 | $1.0M | 0.14% |
| 112 | ALLISON TRANSMISSION HLDGS I | ALSN | 12,069 | $1.0M | 0.13% |
| 113 | HILLENBRAND INC | 431571108 | 37,868 | $1.0M | 0.13% |
| 114 | GENIUS SPORTS LIMITED | GENI | 82,675 | $1.0M | 0.13% |
| 115 | ACM RESH INC | 00108J109 | 25,935 | $1.0M | 0.13% |
| 116 | GROCERY OUTLET HLDG CORP | GO | 60,720 | $974,556 | 0.13% |
| 117 | MATADOR RES CO | MTDR | 21,629 | $971,791 | 0.13% |
| 118 | STOCK YDS BANCORP INC | 861025104 | 13,843 | $968,872 | 0.13% |
| 119 | JBT MAREL CORPORATION | JBTM | 6,715 | $943,122 | 0.12% |
| 120 | ISHARES TR | 464287457 | 11,171 | $926,746 | 0.12% |
| 121 | ALKAMI TECHNOLOGY INC | ALKT | 37,145 | $922,682 | 0.12% |
| 122 | PHINIA INC | PHIN | 15,875 | $912,495 | 0.12% |
| 123 | SUPERNUS PHARMACEUTICALS INC | SUPN | 19,054 | $910,591 | 0.12% |
| 124 | UFP INDUSTRIES INC | UFPI | 9,716 | $908,349 | 0.12% |
| 125 | BELLRING BRANDS INC | BRBR | 24,693 | $897,591 | 0.12% |
| 126 | UNITEDHEALTH GROUP INC | UNH | 2,594 | $895,794 | 0.12% |
| 127 | EAGLE MATLS INC | 26969P108 | 3,795 | $884,387 | 0.12% |
| 128 | PITNEY BOWES INC | PBI-PB | 77,380 | $882,906 | 0.12% |
| 129 | ARCOSA INC | ACA | 9,185 | $860,726 | 0.11% |
| 130 | BLOCK H & R INC | BSQKZ | 16,837 | $851,447 | 0.11% |
| 131 | MYERS INDS INC | 628464109 | 49,580 | $839,885 | 0.11% |
| 132 | GENPACT LIMITED | G | 19,644 | $822,887 | 0.11% |
| 133 | BLACKSTONE INC | BX | 4,667 | $797,357 | 0.10% |
| 134 | WEBSTER FINL CORP | 947890109 | 13,231 | $786,451 | 0.10% |
| 135 | WHITESTONE REIT | WSR | 63,498 | $779,755 | 0.10% |
| 136 | EMERALD HOLDING INC | EEX | 152,228 | $774,841 | 0.10% |
| 137 | REV GROUP INC | 749527107 | 13,545 | $767,595 | 0.10% |
| 138 | PATRICK INDS INC | 703343103 | 7,408 | $766,209 | 0.10% |
| 139 | ONESPAWORLD HOLDINGS LIMITED | OSW | 35,957 | $760,131 | 0.10% |
| 140 | SOUTHSTATE BK CORP | 84472E102 | 7,578 | $749,237 | 0.10% |
| 141 | VALVOLINE INC | VVV | 20,610 | $740,105 | 0.10% |
| 142 | BOYD GAMING CORP | BYD | 8,519 | $736,468 | 0.10% |
| 143 | DRIVEN BRANDS HLDGS INC | DRVN | 44,955 | $724,225 | 0.10% |
| 144 | MONARCH CASINO & RESORT INC | MCRI | 6,655 | $704,365 | 0.09% |
| 145 | FIRST MERCHANTS CORP | FRMEP | 18,365 | $692,360 | 0.09% |
| 146 | PROGRESS SOFTWARE CORP | 743312100 | 15,209 | $668,131 | 0.09% |
| 147 | IMPINJ INC | PI | 3,679 | $664,979 | 0.09% |
| 148 | ARES CAPITAL CORP | ARCC | 32,181 | $656,814 | 0.09% |
| 149 | JEFFERIES FINL GROUP INC | 47233W109 | 9,905 | $647,985 | 0.09% |
| 150 | FULLER H B CO | FUL | 10,656 | $631,688 | 0.08% |
| 151 | ADDUS HOMECARE CORP | ADUS | 5,337 | $629,713 | 0.08% |
| 152 | NCINO INC | NCNO | 21,807 | $591,188 | 0.08% |
| 153 | SPDR S&P 500 ETF TR | SPY | 873 | $581,575 | 0.08% |
| 154 | HEALTHEQUITY INC | HQY | 6,015 | $570,042 | 0.07% |
| 155 | SCIENCE APPLICATIONS INTL CO | 808625107 | 5,061 | $502,912 | 0.07% |
| 156 | RELIANCE INC | RS | 1,782 | $500,362 | 0.07% |
| 157 | STOCK YDS BANCORP INC | 861025104 | 7,130 | $499,029 | 0.07% |
| 158 | ACI WORLDWIDE INC | ACIW | 9,352 | $493,505 | 0.06% |
| 159 | SPIRE INC | SRJN | 5,963 | $486,104 | 0.06% |
| 160 | SUPER GROUP SGHC LIMITED | SGHC | 35,765 | $472,098 | 0.06% |
| 161 | VAIL RESORTS INC | MTN | 3,105 | $464,415 | 0.06% |
| 162 | OWENS CORNING NEW | OC | 3,270 | $462,574 | 0.06% |
| 163 | ASBURY AUTOMOTIVE GROUP INC | ABG | 1,885 | $460,788 | 0.06% |
| 164 | FLYWIRE CORPORATION | FLYW | 31,540 | $427,052 | 0.06% |
| 165 | AMPHASTAR PHARMACEUTICALS IN | AMPH | 15,468 | $412,222 | 0.05% |
| 166 | ISHARES TR | 464288257 | 2,828 | $391,007 | 0.05% |
| 167 | CANTALOUPE INC | CTLPP | 34,350 | $363,080 | 0.05% |
| 168 | GROCERY OUTLET HLDG CORP | GO | 22,595 | $362,650 | 0.05% |
| 169 | BLACKSTONE SECD LENDING FD | BX | 12,355 | $322,095 | 0.04% |
| 170 | HOLLEY INC | HLLY-WT | 95,800 | $300,812 | 0.04% |
| 171 | RYERSON HLDG CORP | RYZ | 12,733 | $291,076 | 0.04% |
| 172 | SIXTH STREET SPECIALTY LENDI | TSLX | 10,338 | $236,327 | 0.03% |
| 173 | PROSHARES TR | 74348A467 | 2,231 | $229,949 | 0.03% |
| 174 | HERCULES CAPITAL INC | HCXY | 11,836 | $223,819 | 0.03% |
| 175 | MAIN STR CAP CORP | 56035L104 | 3,471 | $220,721 | 0.03% |
| 176 | FIDUS INVT CORP | 316500107 | 10,403 | $210,765 | 0.03% |
| 177 | FLUTTER ENTMT PLC | G3643J108 | 811 | $205,994 | 0.03% |
| 178 | CUE BIOPHARMA INC | CUE | 257,225 | $184,868 | 0.02% |
| 179 | FS KKR CAP CORP | FSK | 10,057 | $150,151 | 0.02% |
| 180 | CARLYLE SECURED LENDING INC | CGBD | 11,340 | $141,750 | 0.02% |
| 181 | ATOMERA INC | ATOM | 20,000 | $88,400 | 0.01% |
| 182 | HEARTBEAM INC | BEATW | 50,000 | $82,500 | 0.01% |