13F HOLDINGS REPORT
ADVISORY RESEARCH INC
Quarter ended Q2 2025 · Filed August 13, 2025 · Accession 0001085146-25-005021
Total Value
$650.9M
Positions
174
Other Managers
1
Confidential Omitted
No
Holdings (174)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | BEL FUSE INC | BELFB | 375,228 | $36.7M | 5.63% |
| 2 | TRIMAS CORP | TRS | 1,003,067 | $28.7M | 4.41% |
| 3 | PHILIP MORRIS INTL INC | 718172109 | 146,974 | $26.8M | 4.11% |
| 4 | BROADCOM INC | AVGO | 85,046 | $23.4M | 3.60% |
| 5 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 96,601 | $21.9M | 3.36% |
| 6 | OPENLANE INC | OPLN | 801,269 | $19.6M | 3.01% |
| 7 | MGIC INVT CORP WIS | 552848103 | 644,742 | $17.9M | 2.76% |
| 8 | PURSUIT ATTRACTIONS AND HOSP | 92552R406 | 592,695 | $17.1M | 2.63% |
| 9 | MICROSOFT CORP | MSFT | 32,430 | $16.1M | 2.48% |
| 10 | TAPESTRY INC | TPR | 175,360 | $15.4M | 2.37% |
| 11 | DAILY JOURNAL CORP | DJCO | 35,905 | $15.2M | 2.33% |
| 12 | JBT MAREL CORPORATION | JBTM | 125,356 | $15.1M | 2.32% |
| 13 | CME GROUP INC | CME | 51,236 | $14.1M | 2.17% |
| 14 | LEGACY HOUSING CORP | LEGH | 621,121 | $14.1M | 2.16% |
| 15 | PHINIA INC | PHIN | 313,642 | $14.0M | 2.14% |
| 16 | SOUTHSTATE CORPORATION | SSB | 139,351 | $12.8M | 1.97% |
| 17 | AMERICAN ELEC PWR CO INC | 025537101 | 113,717 | $11.8M | 1.81% |
| 18 | PERFORMANCE FOOD GROUP CO | PFGC | 133,228 | $11.7M | 1.79% |
| 19 | ABBVIE INC | ABBV | 60,121 | $11.2M | 1.71% |
| 20 | ALPHABET INC | GOOG | 62,422 | $11.0M | 1.69% |
| 21 | KEURIG DR PEPPER INC | KDP | 331,468 | $11.0M | 1.68% |
| 22 | GSK PLC | GLAXF | 240,421 | $9.2M | 1.42% |
| 23 | EAGLE MATLS INC | 26969P108 | 45,149 | $9.1M | 1.40% |
| 24 | HUBBELL INC | HUBB | 19,921 | $8.1M | 1.25% |
| 25 | KB FINL GROUP INC | 48241A105 | 97,765 | $8.1M | 1.24% |
| 26 | ISHARES TR | 46436E718 | 78,797 | $7.9M | 1.22% |
| 27 | EMERALD HOLDING INC | EEX | 1,623,914 | $7.9M | 1.21% |
| 28 | UNITEDHEALTH GROUP INC | UNH | 24,043 | $7.5M | 1.15% |
| 29 | VERIZON COMMUNICATIONS INC | VZ | 157,709 | $6.8M | 1.05% |
| 30 | APPLE INC | AAPL | 32,641 | $6.7M | 1.03% |
| 31 | FERGUSON ENTERPRISES INC | FERG | 30,657 | $6.7M | 1.03% |
| 32 | LAMAR ADVERTISING CO NEW | LAMR | 51,550 | $6.3M | 0.96% |
| 33 | META PLATFORMS INC | META | 8,185 | $6.0M | 0.93% |
| 34 | FLUTTER ENTMT PLC | G3643J108 | 21,040 | $6.0M | 0.92% |
| 35 | UNILEVER PLC | UNLYF | 86,777 | $5.3M | 0.82% |
| 36 | ISHARES TR | 464288679 | 42,103 | $4.6M | 0.71% |
| 37 | NICOLET BANKSHARES INC | NIC | 33,935 | $4.2M | 0.64% |
| 38 | VANGUARD SCOTTSDALE FDS | 92206C102 | 69,657 | $4.1M | 0.63% |
| 39 | VANGUARD SCOTTSDALE FDS | 92206C870 | 44,228 | $3.7M | 0.56% |
| 40 | HONDA MOTOR LTD | HNDAF | 124,893 | $3.6M | 0.55% |
| 41 | HOME DEPOT INC | HD | 9,626 | $3.5M | 0.54% |
| 42 | WESTERN ALLIANCE BANCORP | WAL-PA | 44,830 | $3.5M | 0.54% |
| 43 | VANGUARD INDEX FDS | 922908363 | 6,142 | $3.5M | 0.54% |
| 44 | DANAOS CORPORATION | DAC | 36,815 | $3.2M | 0.49% |
| 45 | ISHARES TR | 464288638 | 57,761 | $3.1M | 0.47% |
| 46 | ARES MANAGEMENT CORPORATION | ARES-PB | 16,105 | $2.8M | 0.43% |
| 47 | STEEL DYNAMICS INC | STLD | 21,668 | $2.8M | 0.43% |
| 48 | VANGUARD SPECIALIZED FUNDS | 921908844 | 12,868 | $2.6M | 0.40% |
| 49 | ORACLE CORP | ORCL-PD | 12,043 | $2.6M | 0.40% |
| 50 | LAM RESEARCH CORP | LRCX | 26,991 | $2.6M | 0.40% |
| 51 | ASBURY AUTOMOTIVE GROUP INC | ABG | 10,956 | $2.6M | 0.40% |
| 52 | BEL FUSE INC | BELFB | 28,250 | $2.5M | 0.39% |
| 53 | REV GROUP INC | 749527107 | 52,730 | $2.5M | 0.39% |
| 54 | MILLER INDS INC TENN | 600551204 | 52,082 | $2.3M | 0.36% |
| 55 | ACCENTURE PLC IRELAND | ACN | 7,669 | $2.3M | 0.35% |
| 56 | NETAPP INC | NTAP | 21,021 | $2.2M | 0.34% |
| 57 | AUTOZONE INC | AZO | 590 | $2.2M | 0.34% |
| 58 | PITNEY BOWES INC | PBI-PB | 195,307 | $2.1M | 0.33% |
| 59 | ARCOSA INC | ACA | 24,440 | $2.1M | 0.33% |
| 60 | VALVOLINE INC | VVV | 54,689 | $2.1M | 0.32% |
| 61 | FIRST MERCHANTS CORP | FRMEP | 53,983 | $2.1M | 0.32% |
| 62 | VANGUARD SCOTTSDALE FDS | 92206C409 | 25,912 | $2.1M | 0.32% |
| 63 | AXOS FINANCIAL INC | AX | 26,445 | $2.0M | 0.31% |
| 64 | JPMORGAN CHASE & CO. | VYLD | 6,872 | $2.0M | 0.31% |
| 65 | EMCOR GROUP INC | EME | 3,630 | $1.9M | 0.30% |
| 66 | ENCOMPASS HEALTH CORP | EHC | 15,547 | $1.9M | 0.29% |
| 67 | INVESCO EXCHANGE TRADED FD T | IVZ | 10,394 | $1.9M | 0.29% |
| 68 | WEBSTER FINL CORP | 947890109 | 34,301 | $1.9M | 0.29% |
| 69 | CDW CORP | CDW | 10,352 | $1.8M | 0.28% |
| 70 | ONESPAWORLD HOLDINGS LIMITED | OSW | 89,661 | $1.8M | 0.28% |
| 71 | LOCKHEED MARTIN CORP | LMT | 3,798 | $1.8M | 0.27% |
| 72 | NCINO INC | NCNO | 61,861 | $1.7M | 0.27% |
| 73 | HEALTHEQUITY INC | HQY | 16,277 | $1.7M | 0.26% |
| 74 | AMERICAN EXPRESS CO | AXP | 5,301 | $1.7M | 0.26% |
| 75 | BANK AMERICA CORP | 060505104 | 34,812 | $1.6M | 0.25% |
| 76 | ISHARES TR | 464288588 | 17,518 | $1.6M | 0.25% |
| 77 | NRG ENERGY INC | NRG | 10,110 | $1.6M | 0.25% |
| 78 | DISTRIBUTION SOLUTIONS GRP I | 520776105 | 58,486 | $1.6M | 0.25% |
| 79 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 3,198 | $1.6M | 0.24% |
| 80 | AMERICAN EAGLE OUTFITTERS IN | AEO | 159,133 | $1.5M | 0.24% |
| 81 | BEL FUSE INC | BELFB | 15,630 | $1.5M | 0.23% |
| 82 | MONARCH CASINO & RESORT INC | MCRI | 16,912 | $1.5M | 0.22% |
| 83 | ELEMENT SOLUTIONS INC | ESI | 62,927 | $1.4M | 0.22% |
| 84 | UNION PAC CORP | UNP | 6,185 | $1.4M | 0.22% |
| 85 | JEFFERIES FINL GROUP INC | 47233W109 | 25,755 | $1.4M | 0.22% |
| 86 | TJX COS INC NEW | 872540109 | 11,399 | $1.4M | 0.22% |
| 87 | VANGUARD INDEX FDS | 922908629 | 4,902 | $1.4M | 0.21% |
| 88 | VANGUARD TAX-MANAGED FDS | 921943858 | 23,938 | $1.4M | 0.21% |
| 89 | CHESAPEAKE UTILS CORP | 165303108 | 11,307 | $1.4M | 0.21% |
| 90 | GATES INDL CORP PLC | G39108108 | 58,687 | $1.4M | 0.21% |
| 91 | ALKAMI TECHNOLOGY INC | ALKT | 44,815 | $1.4M | 0.21% |
| 92 | CHEVRON CORP NEW | CVX | 9,209 | $1.3M | 0.20% |
| 93 | MYERS INDS INC | 628464109 | 89,190 | $1.3M | 0.20% |
| 94 | MCDONALDS CORP | MCD | 4,395 | $1.3M | 0.20% |
| 95 | UNUM GROUP | UNMA | 15,755 | $1.3M | 0.20% |
| 96 | CASS INFORMATION SYS INC | CASS | 29,144 | $1.3M | 0.19% |
| 97 | VAIL RESORTS INC | MTN | 7,975 | $1.3M | 0.19% |
| 98 | ABBOTT LABS | ABLZF | 9,205 | $1.3M | 0.19% |
| 99 | TRIMAS CORP | TRS | 43,736 | $1.3M | 0.19% |
| 100 | REGAL REXNORD CORPORATION | RRX | 7,800 | $1.1M | 0.17% |
| 101 | CONOCOPHILLIPS | COP | 12,592 | $1.1M | 0.17% |
| 102 | ALLISON TRANSMISSION HLDGS I | ALSN | 11,612 | $1.1M | 0.17% |
| 103 | STOCK YDS BANCORP INC | 861025104 | 13,843 | $1.1M | 0.17% |
| 104 | NICOLET BANKSHARES INC | NIC | 8,647 | $1.1M | 0.16% |
| 105 | VANGUARD BD INDEX FDS | 92203C303 | 21,243 | $1.1M | 0.16% |
| 106 | JBT MAREL CORPORATION | JBTM | 8,505 | $1.0M | 0.16% |
| 107 | PURSUIT ATTRACTIONS AND HOSP | 92552R406 | 34,089 | $982,786 | 0.15% |
| 108 | PERFORMANCE FOOD GROUP CO | PFGC | 11,017 | $963,657 | 0.15% |
| 109 | REV GROUP INC | 749527107 | 19,840 | $944,186 | 0.15% |
| 110 | BELLRING BRANDS INC | BRBR | 16,281 | $943,158 | 0.14% |
| 111 | MATADOR RES CO | MTDR | 19,745 | $942,231 | 0.14% |
| 112 | ISHARES TR | 464288646 | 17,830 | $940,711 | 0.14% |
| 113 | PROGRESS SOFTWARE CORP | 743312100 | 14,647 | $935,064 | 0.14% |
| 114 | UFP INDUSTRIES INC | UFPI | 9,359 | $929,910 | 0.14% |
| 115 | OPENLANE INC | OPLN | 37,962 | $928,171 | 0.14% |
| 116 | ISHARES TR | 464287457 | 11,171 | $925,629 | 0.14% |
| 117 | BLOCK H & R INC | BSQKZ | 16,220 | $890,316 | 0.14% |
| 118 | SPDR SERIES TRUST | 78464A870 | 10,277 | $852,272 | 0.13% |
| 119 | LEGACY HOUSING CORP | LEGH | 37,386 | $847,167 | 0.13% |
| 120 | PITNEY BOWES INC | PBI-PB | 77,380 | $844,216 | 0.13% |
| 121 | GENIUS SPORTS LIMITED | GENI | 79,751 | $829,410 | 0.13% |
| 122 | FIRST MERCHANTS CORP | FRMEP | 21,455 | $821,726 | 0.13% |
| 123 | DAILY JOURNAL CORP | DJCO | 1,935 | $817,054 | 0.13% |
| 124 | ARCOSA INC | ACA | 9,185 | $796,431 | 0.12% |
| 125 | IMPINJ INC | PI | 7,124 | $791,263 | 0.12% |
| 126 | NVENT ELECTRIC PLC | NVT | 10,687 | $782,823 | 0.12% |
| 127 | VALVOLINE INC | VVV | 20,610 | $780,501 | 0.12% |
| 128 | EAGLE MATLS INC | 26969P108 | 3,795 | $767,007 | 0.12% |
| 129 | WHITESTONE REIT | WSR | 61,189 | $763,639 | 0.12% |
| 130 | EMERALD HOLDING INC | EEX | 152,228 | $738,306 | 0.11% |
| 131 | ONESPAWORLD HOLDINGS LIMITED | OSW | 35,957 | $733,163 | 0.11% |
| 132 | WEBSTER FINL CORP | 947890109 | 13,231 | $722,413 | 0.11% |
| 133 | PHINIA INC | PHIN | 15,875 | $706,279 | 0.11% |
| 134 | BLACKSTONE INC | BX | 4,667 | $698,090 | 0.11% |
| 135 | ARES CAPITAL CORP | ARCC | 31,789 | $698,086 | 0.11% |
| 136 | SOUTHSTATE CORPORATION | SSB | 7,578 | $697,403 | 0.11% |
| 137 | HILLENBRAND INC | 431571108 | 34,217 | $686,735 | 0.11% |
| 138 | PATRICK INDS INC | 703343103 | 7,131 | $657,977 | 0.10% |
| 139 | DISTRIBUTION SOLUTIONS GRP I | 520776105 | 23,645 | $649,528 | 0.10% |
| 140 | BOYD GAMING CORP | BYD | 8,206 | $641,955 | 0.10% |
| 141 | HEALTHEQUITY INC | HQY | 6,015 | $630,131 | 0.10% |
| 142 | FULLER H B CO | FUL | 10,251 | $616,598 | 0.09% |
| 143 | NCINO INC | NCNO | 21,807 | $609,942 | 0.09% |
| 144 | ADDUS HOMECARE CORP | ADUS | 5,139 | $591,961 | 0.09% |
| 145 | SUPERNUS PHARMACEUTICALS INC | SUPN | 18,397 | $579,873 | 0.09% |
| 146 | MONARCH CASINO & RESORT INC | MCRI | 6,655 | $575,258 | 0.09% |
| 147 | RYERSON HLDG CORP | RYZ | 26,109 | $563,171 | 0.09% |
| 148 | STOCK YDS BANCORP INC | 861025104 | 7,130 | $563,127 | 0.09% |
| 149 | SCIENCE APPLICATIONS INTL CO | 808625107 | 4,871 | $548,523 | 0.08% |
| 150 | RELIANCE INC | RS | 1,737 | $545,158 | 0.08% |
| 151 | JEFFERIES FINL GROUP INC | 47233W109 | 9,905 | $541,704 | 0.08% |
| 152 | ALKAMI TECHNOLOGY INC | ALKT | 17,225 | $519,162 | 0.08% |
| 153 | ORRSTOWN FINL SVCS INC | 687380105 | 15,833 | $503,964 | 0.08% |
| 154 | VAIL RESORTS INC | MTN | 3,105 | $487,889 | 0.07% |
| 155 | MYERS INDS INC | 628464109 | 33,305 | $482,589 | 0.07% |
| 156 | ASBURY AUTOMOTIVE GROUP INC | ABG | 1,885 | $449,648 | 0.07% |
| 157 | OWENS CORNING NEW | OC | 3,141 | $431,950 | 0.07% |
| 158 | SPIRE INC | SRJN | 5,724 | $417,795 | 0.06% |
| 159 | CASS INFORMATION SYS INC | CASS | 9,295 | $403,868 | 0.06% |
| 160 | MILLER INDS INC TENN | 600551204 | 8,670 | $385,468 | 0.06% |
| 161 | CANTALOUPE INC | CTLPP | 34,350 | $377,506 | 0.06% |
| 162 | AMPHASTAR PHARMACEUTICALS IN | AMPH | 14,898 | $342,058 | 0.05% |
| 163 | BLACKSTONE SECD LENDING FD | BX | 10,979 | $337,604 | 0.05% |
| 164 | SPDR S&P 500 ETF TR | SPY | 458 | $282,975 | 0.04% |
| 165 | SIXTH STREET SPECIALTY LENDI | TSLX | 10,564 | $251,529 | 0.04% |
| 166 | PROSHARES TR | 74348A467 | 2,231 | $224,662 | 0.03% |
| 167 | HERCULES CAPITAL INC | HCXY | 11,948 | $218,409 | 0.03% |
| 168 | FS KKR CAP CORP | FSK | 10,374 | $215,260 | 0.03% |
| 169 | FIDUS INVT CORP | 316500107 | 10,574 | $213,595 | 0.03% |
| 170 | MAIN STR CAP CORP | 56035L104 | 3,551 | $209,864 | 0.03% |
| 171 | CUE BIOPHARMA INC | CUE | 257,225 | $175,505 | 0.03% |
| 172 | CARLYLE SECURED LENDING INC | CGBD | 10,387 | $142,094 | 0.02% |
| 173 | ATOMERA INC | ATOM | 20,000 | $100,800 | 0.02% |
| 174 | HEARTBEAM INC | BEATW | 50,000 | $62,500 | 0.01% |