Advisory Research Inc.

Name: ADVISORY RESEARCH INC 13F holdings, Q3 2024
Creator: ADVISORY RESEARCH INC
Published: 2024-11-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q2 2024Q1 2024

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Advisory Research Inc. reported 156 stock positions worth $562.9 million. Its top holding was Miller Industries (MLR) at 4.0% of the portfolio, followed by Bel Fuse Class B (BELFB, 3.4%) and Phinia (PHIN, 3.0%). Compared with Q2 2024, it opened 7 new positions, sold out of 11, added to 37 and reduced 96. The biggest buy was Western Alliance Bancorp (WAL, shares +624%) and the biggest sale Grocery Outlet (GO, shares −75%).

Most Recent 13F: Q2 2026
Location: CHICAGO, IL
CIK: 0000902584
Portfolio Value: $562.9M (Q3 2024)
SEC Filing: 0001085146-24-005704 ↗ filed Nov 14, 2024

Holdings Value

Holdings 156 stocks · $562.9M


MLR Miller Industries Inc.	4.02%	370,949	$22.6M	Reduce -1.6%
BELFB Bel Fuse Inc. Class B	3.43%	245,986	$19.3M	Add +2.8%
PHIN Phinia Inc.	3.03%	370,450	$17.1M	Add +19.1%
AVGO Broadcom Inc.	3.01%	98,101	$16.9M	Reduce -2.1%
TSM Taiwan Semiconductor-SP ADR	2.82%	91,276	$15.9M	Reduce -2.2%
PRSU Pursuit Attractions and Hosp filed as VIAD CORP	2.77%	435,581	$15.6M	Add +17.8%
ESGR Enstar Group Ltd.	2.56%	44,753	$14.4M	Reduce -22.7%
TRS Trimas Corp.	2.42%	534,089	$13.6M	Add +0.3%
UNH Unitedhealth Group Inc.	2.34%	22,534	$13.2M	Reduce -2.8%
MSFT Microsoft Corp.	2.22%	29,047	$12.5M	Reduce -28.0%
MTG Mgic Investment Corp.	2.19%	480,740	$12.3M	Add +57.6%
MRK Merck & Co. Inc.	2.09%	103,765	$11.8M	Add +3.4%
PFGC Performance Food Group Co.	2.07%	148,372	$11.6M	Reduce -10.7%
PM Philip Morris International	2.02%	93,598	$11.4M	Reduce -2.0%
TPR Tapestry Inc.	2.02%	241,485	$11.3M	Reduce -2.0%
KDP Keurig Dr Pepper Inc.	2.01%	301,985	$11.3M	Add +5.9%
AEP American Electric Power	1.95%	107,072	$11.0M	Add +21.4%
ABBV Abbvie Inc.	1.94%	55,419	$10.9M	Reduce -2.2%
GSK GSK PLC-Spon ADR	1.90%	262,077	$10.7M	Reduce -2.2%
GOOGL Alphabet Inc. Class A	1.81%	61,291	$10.2M	Add +12.7%
LEGH Legacy Housing Corp.	1.71%	352,935	$9.7M	Reduce -0.5%
JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP	1.69%	96,640	$9.5M	Add +9.4%
VZ Verizon Communications Inc.	1.57%	196,732	$8.8M	Reduce -35.3%
WAL Western Alliance Bancorp	1.53%	99,589	$8.6M	Add +624.5%
HUBB Hubbell Inc.	1.37%	18,025	$7.7M	Reduce -18.4%
HHH Howard Hughes Holdings Inc.	1.36%	99,020	$7.7M	New
EME Emcor Group Inc.	1.26%	16,511	$7.1M	Add +14.9%
CME Cme Group Inc.	1.24%	31,549	$7.0M	New
ABG Asbury Automotive Group	1.21%	28,624	$6.8M	Reduce -5.0%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC	1.15%	104,882	$6.5M	Reduce -1.8%
LAMR Lamar Advertising Co. Class A	1.06%	44,605	$6.0M	Add +6.2%
UL Unilever PLC	1.02%	88,467	$5.7M	Add +59.5%
EEX Emerald Holding Inc.	1.01%	1,134,139	$5.7M	Add +22.6%
FLUT Flutter Entertainment PLC-Di	0.94%	22,302	$5.3M	Reduce -4.9%
FERG Ferguson Enterprises Inc.	0.90%	25,561	$5.1M	Reduce -13.5%
SHV iShares 0-1 Year Treasury Bo	0.83%	42,098	$4.7M	Reduce -27.8%
HMC Honda Motor Co. Ltd.-Spons ADR	0.82%	146,253	$4.6M	Add +10.8%
VUSB Vanguard Ultra Short Bond Et	0.81%	91,620	$4.6M	Reduce -5.2%
DSGR Distribution Solutions Group	0.81%	118,190	$4.6M	Add +47.4%
NIC Nicolet Bankshares Inc.	0.76%	44,568	$4.3M	Add +1.4%
FA First Advantage Corp.	0.74%	211,230	$4.2M	Reduce -5.5%
VGSH Vanguard Short-Term Treasury	0.73%	69,657	$4.1M	No change
ESI Element Solutions Inc.	0.71%	146,559	$4.0M	Reduce -5.1%
VCIT Vanguard Int-Term Corporate	0.64%	42,929	$3.6M	Add +54.9%
SKY Champion Homes Inc.	0.60%	35,902	$3.4M	Reduce -5.4%
VOO Vanguard S&P 500 ETF	0.60%	6,443	$3.4M	No change
SSB Southstate Bank Corp.	0.60%	34,911	$3.4M	Add +25.2%
IGIB iShares 5-10Y Inv Grade Corp.	0.55%	57,761	$3.1M	Add +72.1%
HD Home Depot Inc.	0.54%	7,472	$3.0M	Reduce -4.7%
FRME First Merchants Corp.	0.53%	79,650	$3.0M	Add +54.4%
VIG Vanguard Dividend Apprec ETF	0.49%	13,985	$2.8M	No change
EXP Eagle Materials Inc.	0.47%	9,235	$2.7M	Add +34.4%
WBS Webster Financial Corp.	0.43%	52,362	$2.4M	Reduce -4.1%
CASS Cass Information Systems Inc.	0.43%	58,725	$2.4M	Reduce -5.0%
HQY Healthequity Inc.	0.42%	29,055	$2.4M	Reduce -5.5%
AEO American Eagle Outfitters	0.42%	106,110	$2.4M	Add +91.4%
GO Grocery Outlet Holding Corp.	0.42%	133,985	$2.4M	Reduce -75.2%
ALG Alamo Group Inc.	0.41%	12,830	$2.3M	Add +41.5%
OSW Onespaworld Holdings Ltd.	0.39%	133,730	$2.2M	Reduce -5.6%
FND Floor & Decor Holdings Inc. Class A	0.38%	17,156	$2.1M	Reduce -5.4%
CDW CDW Corp.	0.38%	9,374	$2.1M	Reduce -2.9%
BC Brunswick Corp.	0.37%	24,960	$2.1M	Reduce -10.7%
PBI Pitney Bowes Inc.	0.36%	288,000	$2.1M	Add +23.8%
MCRI Monarch Casino & Resort Inc.	0.36%	25,437	$2.0M	Reduce -76.2%
DAC Danaos Corp.	0.35%	22,909	$2.0M	Reduce -3.9%
BRK.B Berkshire Hathaway Inc. Class B	0.35%	4,287	$2.0M	Reduce -6.2%
RSP Invesco S&P 500 Equal Weight	0.35%	10,999	$2.0M	Add +0.0%
AZO AutoZone Inc.	0.35%	620	$2.0M	Reduce -6.1%
VCSH Vanguard S/T Corp. Bond ETF	0.34%	24,189	$1.9M	Reduce -6.8%
BELFA Bel Fuse Inc. Class A	0.34%	19,242	$1.9M	No change
JPM JPMorgan Chase & Co.	0.33%	8,932	$1.9M	Reduce -14.2%
ACN Accenture PLC Class A	0.32%	5,070	$1.8M	Reduce -4.8%
STLD Steel Dynamics Inc.	0.32%	14,082	$1.8M	Reduce -5.4%
ARES Ares Management Corp. Class A	0.31%	11,342	$1.8M	Reduce -4.7%
AXP American Express Co.	0.31%	6,477	$1.8M	Reduce -6.2%
VVV Valvoline Inc.	0.30%	40,750	$1.7M	Reduce -5.2%
MBB iShares MBS ETF	0.30%	17,518	$1.7M	No change
AAPL Apple Inc.	0.30%	7,194	$1.7M	Add +16.2%
NTAP Netapp Inc.	0.30%	13,510	$1.7M	Reduce -4.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.29%	40,726	$1.6M	Reduce -15.5%
UNP Union Pacific Corp.	0.29%	6,546	$1.6M	Add +8.2%
ALKT Alkami Technology Inc.	0.28%	50,286	$1.6M	Reduce -22.5%
PZZA Papa John's Intl Inc.	0.28%	28,830	$1.6M	Reduce -4.9%
IBTE iShares Ibonds Dec 2024 Term	0.27%	64,180	$1.5M	No change
ATR Aptargroup Inc.	0.27%	9,410	$1.5M	Reduce -4.6%
CPK Chesapeake Utilities Corp.	0.26%	11,946	$1.5M	Reduce -6.1%
LMT Lockheed Martin Corp.	0.26%	2,532	$1.5M	Reduce -49.6%
ALTG Alta Equipment Group Inc.	0.26%	215,240	$1.5M	Reduce -4.9%
CVX Chevron Corp.	0.26%	9,781	$1.4M	Add +8.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.25%	12,144	$1.4M	Reduce -6.0%
LRCX Lam Research Corp.	0.25%	1,749	$1.4M	Reduce -4.1%
PI Impinj Inc.	0.25%	6,589	$1.4M	Reduce -3.3%
SYBT Stock Yards Bancorp Inc.	0.25%	22,620	$1.4M	New
EHC Encompass Health Corp.	0.25%	14,371	$1.4M	Reduce -3.1%
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.24%	5,095	$1.3M	No change
ORCL Oracle Corp.	0.24%	7,812	$1.3M	Reduce -4.9%
IBTF iShares Ibonds Dec 2025 Term	0.23%	56,110	$1.3M	New
GTES Gates Industrial Corp. UK Ltd.	0.23%	73,136	$1.3M	Reduce -65.8%
ABT Abbott Laboratories	0.22%	11,023	$1.3M	Reduce -6.0%
CTLP Cantaloupe Inc.	0.22%	168,850	$1.2M	New
VEA Vanguard Ftse Developed ETF	0.21%	22,817	$1.2M	No change
MCD McDonald's Corp.	0.21%	3,912	$1.2M	Reduce -5.8%
UFPI Ufp Industries Inc.	0.20%	8,655	$1.1M	Reduce -2.9%
RRX Regal Rexnord Corp.	0.19%	6,612	$1.1M	Reduce -6.1%
ALSN Allison Transmission Holding	0.18%	10,722	$1.0M	Reduce -2.9%
XOM Exxon Mobil Corp.	0.18%	8,630	$1.0M	Add +15.0%
HRB H&R Block Inc. filed as BLOCK H & R INC	0.17%	14,992	$953K	Reduce -36.8%
BX Blackstone Inc.	0.17%	6,167	$944K	No change
SHY iShares 1-3 Year Treasury Bo	0.17%	11,331	$942K	Add +15.7%
XBI SS SPDR S&P Biotech ETF	0.17%	9,509	$939K	Reduce -3.3%
IGSB iShares 1-5Y Inv Grade Corp.	0.17%	17,830	$939K	No change
HSY The Hershey Co.	0.17%	4,895	$939K	Reduce -6.3%
COP Conocophillips	0.17%	8,868	$934K	Reduce -6.2%
META Meta Platforms Inc. Class A	0.16%	1,597	$914K	New
BRBR Bellring Brands Inc.	0.16%	15,040	$913K	Reduce -3.3%
PRGS Progress Software Corp.	0.16%	13,552	$913K	Reduce -3.3%
UNM Unum Group	0.15%	14,544	$864K	Reduce -2.9%
NRG NRG Energy Inc.	0.15%	9,345	$851K	Reduce -3.3%
WSR Whitestone REIT	0.14%	56,611	$766K	Add +3.3%
AX Axos Financial Inc.	0.13%	12,060	$758K	New
FUL H.B. Fuller Co. filed as FULLER H B CO	0.13%	9,466	$751K	Reduce -3.2%
ARW Arrow Electronics Inc.	0.13%	5,513	$732K	Reduce -3.1%
NVT Nvent Electric PLC	0.12%	9,903	$696K	Reduce -3.1%
ARCC Ares Capital Corp.	0.12%	32,874	$688K	Add +2.9%
AMPH Amphastar Pharmaceuticals Inc.	0.12%	13,810	$670K	Reduce -3.2%
INSE Inspired Entertainment Inc.	0.12%	72,086	$668K	Reduce -2.9%
ADUS Addus Homecare Corp.	0.11%	4,761	$633K	Reduce -3.3%
SAIC Science Applications Inte	0.11%	4,495	$626K	Reduce -3.3%
PATK Patrick Industries Inc.	0.11%	4,388	$625K	Reduce -3.0%
GENI Genius Sports Ltd.	0.10%	73,849	$579K	Reduce -3.0%
NEE Nextera Energy Inc.	0.10%	6,485	$548K	No change
SUPN Supernus Pharmaceuticals Inc.	0.09%	17,097	$533K	Add +2.0%
DINO HF Sinclair Corp.	0.09%	11,953	$533K	Reduce -3.1%
RS Reliance Inc.	0.09%	1,811	$524K	Reduce -78.4%
OC Owens Corning	0.09%	2,895	$511K	Reduce -3.1%
BYD Boyd Gaming Corp.	0.09%	7,590	$491K	Reduce -3.4%
RYZ Ryerson Holding Corp.	0.09%	24,099	$480K	Reduce -2.8%
MTDR Matador Resources Co.	0.08%	9,423	$466K	Reduce -3.0%
WSO Watsco Inc.	0.08%	906	$445K	Reduce -82.4%
SR Spire Inc.	0.06%	5,265	$354K	Reduce -3.1%
MSTR Strategy Inc. filed as MICROSTRATEGY INC	0.06%	1,998	$337K	Reduce -2.5%
ACWI iShares MSCI Acwi ETF	0.06%	2,816	$337K	Reduce -19.1%
BXSL Blackstone Secured Lending F	0.05%	10,382	$304K	Add +8.0%
NVO Novo-Nordisk A/S-Spons ADR	0.05%	2,267	$270K	Reduce -32.2%
MAIN Main Street Capital Corp.	0.05%	5,161	$259K	Reduce -3.2%
HTGC Hercules Capital Inc.	0.04%	12,842	$252K	Reduce -8.3%
TSLX Sixth Street Specialty Lendi	0.04%	11,865	$244K	Reduce -1.9%
NOBL Proshares S&P 500 Dividend A	0.04%	2,231	$238K	No change
FSK FS KKR Capital Corp.	0.04%	11,332	$224K	Reduce -2.2%
HI Hillenbrand Inc.	0.04%	7,738	$215K	Reduce -3.1%
FDUS Fidus Investment Corp.	0.04%	10,705	$210K	Add +3.7%
OCSL Oaktree Specialty Lending Co.	0.04%	12,423	$203K	Reduce -2.4%
CUE Cue Biopharma Inc.	0.03%	257,225	$195K	No change
RWAY Runway Growth Finance Corp.	0.02%	13,424	$138K	No change
BEAT Heartbeam Inc.	0.02%	50,000	$116K	No change
ATOM Atomera Inc.	0.01%	20,000	$53K	No change

Portfolio Sells Q2 2024 → Q3 2024


GO Grocery Outlet Holding Corp.	Reduce -75.2%	0.42%	−1.83
DVN Devon Energy Corp.	Sold out	0.00%	−1.61
MSFT Microsoft Corp.	Reduce -28.0%	2.22%	−1.17
MCRI Monarch Casino & Resort Inc.	Reduce -76.2%	0.36%	−1.01
VZ Verizon Communications Inc.	Reduce -35.3%	1.57%	−0.79
ESGR Enstar Group Ltd.	Reduce -22.7%	2.56%	−0.77
GTES Gates Industrial Corp. UK Ltd.	Reduce -65.8%	0.23%	−0.41
SHV iShares 0-1 Year Treasury Bo	Reduce -27.8%	0.83%	−0.38
WSO Watsco Inc.	Reduce -82.4%	0.08%	−0.37
RS Reliance Inc.	Reduce -78.4%	0.09%	−0.36
IPG Interpublic Group of Cos Inc.	Sold out	0.00%	−0.34
TSM Taiwan Semiconductor-SP ADR	Reduce -2.2%	2.82%	−0.24
BLKB Blackbaud Inc.	Sold out	0.00%	−0.20
LESLIES INC	Sold out	0.00%	−0.18
LMT Lockheed Martin Corp.	Reduce -49.6%	0.26%	−0.18
FERG Ferguson Enterprises Inc.	Reduce -13.5%	0.90%	−0.17
VET Vermilion Energy Inc.	Sold out	0.00%	−0.17
JNJ Johnson & Johnson	Sold out	0.00%	−0.15
HUBB Hubbell Inc.	Reduce -18.4%	1.37%	−0.15
BRSL Brightstar Lottery PLC	Sold out	0.00%	−0.12
PRFT Perficient Inc.	Sold out	0.00%	−0.12
LRCX Lam Research Corp.	Reduce -4.1%	0.25%	−0.11
VUSB Vanguard Ultra Short Bond Et	Reduce -5.2%	0.81%	−0.09
ALTG Alta Equipment Group Inc.	Reduce -4.9%	0.26%	−0.08
ESI Element Solutions Inc.	Reduce -5.1%	0.71%	−0.08
ABG Asbury Automotive Group	Reduce -5.0%	1.21%	−0.08
HQY Healthequity Inc.	Reduce -5.5%	0.42%	−0.08
BAC Bank of America Corp.	Reduce -15.5%	0.29%	−0.07
HRB H&R Block Inc.	Reduce -36.8%	0.17%	−0.07
ALKT Alkami Technology Inc.	Reduce -22.5%	0.28%	−0.07
EVRI Everi Holdings Inc.	Sold out	0.00%	−0.06
JPM JPMorgan Chase & Co.	Reduce -14.2%	0.33%	−0.06
DAC Danaos Corp.	Reduce -3.9%	0.35%	−0.06
SPY SS SPDR S&P 500 ETF Trust-US	Sold out	0.00%	−0.06
STLD Steel Dynamics Inc.	Reduce -5.4%	0.32%	−0.05
VVV Valvoline Inc.	Reduce -5.2%	0.30%	−0.05
NTAP Netapp Inc.	Reduce -4.5%	0.30%	−0.05
NVO Novo-Nordisk A/S-Spons ADR	Reduce -32.2%	0.05%	−0.04
STLA Stellantis NV	Sold out	0.00%	−0.04
COP Conocophillips	Reduce -6.2%	0.17%	−0.04
GSK GSK PLC-Spon ADR	Reduce -2.2%	1.90%	−0.04
VCSH Vanguard S/T Corp. Bond ETF	Reduce -6.8%	0.34%	−0.04
CASS Cass Information Systems Inc.	Reduce -5.0%	0.43%	−0.03
CDW CDW Corp.	Reduce -2.9%	0.38%	−0.03
DINO HF Sinclair Corp.	Reduce -3.1%	0.09%	−0.03
MTDR Matador Resources Co.	Reduce -3.0%	0.08%	−0.03
NVT Nvent Electric PLC	Reduce -3.1%	0.12%	−0.02
HI Hillenbrand Inc.	Reduce -3.1%	0.04%	−0.02
AVGO Broadcom Inc.	Reduce -2.1%	3.01%	−0.02
AZO AutoZone Inc.	Reduce -6.1%	0.35%	−0.02

Portfolio Buys Q2 2024 → Q3 2024


WAL Western Alliance Bancorp	Add +624.5%	1.53%	+1.37
HHH Howard Hughes Holdings Inc.	New	1.36%	+1.36
CME Cme Group Inc.	New	1.24%	+1.24
MTG Mgic Investment Corp.	Add +57.6%	2.19%	+0.95
PHIN Phinia Inc.	Add +19.1%	3.03%	+0.73
AEP American Electric Power	Add +21.4%	1.95%	+0.50
BELFB Bel Fuse Inc. Class B	Add +2.8%	3.43%	+0.49
UL Unilever PLC	Add +59.5%	1.02%	+0.45
PRSU Pursuit Attractions and Hosp	Add +17.8%	2.77%	+0.41
DSGR Distribution Solutions Group	Add +47.4%	0.81%	+0.36
EME Emcor Group Inc.	Add +14.9%	1.26%	+0.28
SYBT Stock Yards Bancorp Inc.	New	0.25%	+0.25
IBTF iShares Ibonds Dec 2025 Term	New	0.23%	+0.23
IGIB iShares 5-10Y Inv Grade Corp.	Add +72.1%	0.55%	+0.23
VCIT Vanguard Int-Term Corporate	Add +54.9%	0.64%	+0.22
CTLP Cantaloupe Inc.	New	0.22%	+0.22
KDP Keurig Dr Pepper Inc.	Add +5.9%	2.01%	+0.22
AEO American Eagle Outfitters	Add +91.4%	0.42%	+0.21
FRME First Merchants Corp.	Add +54.4%	0.53%	+0.20
SSB Southstate Bank Corp.	Add +25.2%	0.60%	+0.20
EXP Eagle Materials Inc.	Add +34.4%	0.47%	+0.19
META Meta Platforms Inc. Class A	New	0.16%	+0.16
PBI Pitney Bowes Inc.	Add +23.8%	0.36%	+0.14
AX Axos Financial Inc.	New	0.13%	+0.13
ALG Alamo Group Inc.	Add +41.5%	0.41%	+0.12
LAMR Lamar Advertising Co. Class A	Add +6.2%	1.06%	+0.11
JBTM JBT Marel Corp.	Add +9.4%	1.69%	+0.11
NIC Nicolet Bankshares Inc.	Add +1.4%	0.76%	+0.07
AAPL Apple Inc.	Add +16.2%	0.30%	+0.05
UNP Union Pacific Corp.	Add +8.2%	0.29%	+0.03
HMC Honda Motor Co. Ltd.-Spons ADR	Add +10.8%	0.82%	+0.02
XOM Exxon Mobil Corp.	Add +15.0%	0.18%	+0.02
SHY iShares 1-3 Year Treasury Bo	Add +15.7%	0.17%	+0.02
EEX Emerald Holding Inc.	Add +22.6%	1.01%	+0.01
RSP Invesco S&P 500 Equal Weight	Add +0.0%	0.35%	+0.01
SUPN Supernus Pharmaceuticals Inc.	Add +2.0%	0.09%	+0.01
FDUS Fidus Investment Corp.	Add +3.7%	0.04%	−0.00
WSR Whitestone REIT	Add +3.3%	0.14%	−0.00
BXSL Blackstone Secured Lending F	Add +8.0%	0.05%	−0.00
ARCC Ares Capital Corp.	Add +2.9%	0.12%	−0.00
CVX Chevron Corp.	Add +8.7%	0.26%	−0.01
GOOGL Alphabet Inc. Class A	Add +12.7%	1.81%	−0.06
TRS Trimas Corp.	Add +0.3%	2.42%	−0.14
MRK Merck & Co. Inc.	Add +3.4%	2.09%	−0.24

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	136	$1.0B	MYE, OPLN, TRS, TSM, BELFB
Q1 2026	137	$813.5M	TRS, OPLN, MYE, TSM, GOOGL
Q4 2025	143	$795.7M	TRS, OPLN, TSM, DJCO, TPR
Q3 2025	149	$761.4M	TSM, OPLN, TRS, PM, AVGO
Q2 2025	142	$650.9M	BELFB, TRS, PM, AVGO, TSM
Q1 2025	148	$567.3M	BELFB, JBTM, TRS, PM, PHIN
Q4 2024	152	$601.7M	BELFB, JBTM, AVGO, PHIN, TRS
Q3 2024	156	$562.9M	MLR, BELFB, PHIN, AVGO, TSM
Q2 2024	160	$531.6M	MLR, MSFT, ESGR, TSM, AVGO
Q1 2024	156	$502.9M	MSFT, MLR, ESGR, PRSU, HUBB