Advisory Research Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Advisory Research Inc. reported 152 stock positions worth $601.7 million. Its top holding was Bel Fuse Class B (BELFB) at 4.3% of the portfolio, followed by JBT Marel (JBTM, 3.9%) and Broadcom (AVGO, 3.7%). Compared with Q3 2024, it opened 9 new positions, sold out of 13, added to 72 and reduced 51. The biggest buy was JBT Marel (JBTM, shares +93%) and the biggest sale an exit from Merck (MRK).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0000902584
- Portfolio Value
- $601.7M (Q4 2024)
- SEC Filing
- 0001085146-25-001329 ↗ filed Feb 13, 2025
Holdings Value
Holdings 152 stocks · $601.7M
| BELFB Bel Fuse Inc. Class B | 4.30% | 313,446 | $25.8M | Add +27.4% |
| JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP | 3.94% | 186,540 | $23.7M | Add +93.0% |
| AVGO Broadcom Inc. | 3.75% | 97,296 | $22.6M | Reduce -0.8% |
| PHIN Phinia Inc. | 3.32% | 415,140 | $20.0M | Add +12.1% |
| TRS Trimas Corp. | 3.08% | 754,089 | $18.5M | Add +41.2% |
| PRSU Pursuit Attractions and Hosp filed as VIAD CORP | 3.02% | 427,259 | $18.2M | Reduce -1.9% |
| TSM Taiwan Semiconductor-SP ADR | 2.96% | 90,273 | $17.8M | Reduce -1.1% |
| MLR Miller Industries Inc. | 2.95% | 271,658 | $17.8M | Reduce -26.8% |
| TPR Tapestry Inc. | 2.60% | 239,007 | $15.6M | Reduce -1.0% |
| PM Philip Morris International | 2.42% | 120,785 | $14.5M | Add +29.1% |
| MTG Mgic Investment Corp. | 2.39% | 605,467 | $14.4M | Add +25.9% |
| SSB Southstate Bank Corp. | 2.13% | 129,104 | $12.8M | Add +269.8% |
| WAL Western Alliance Bancorp | 2.11% | 152,029 | $12.7M | Add +52.7% |
| PFGC Performance Food Group Co. | 2.11% | 150,131 | $12.7M | Add +1.2% |
| MSFT Microsoft Corp. | 2.02% | 28,854 | $12.2M | Reduce -0.7% |
| ESGR Enstar Group Ltd. | 2.00% | 37,402 | $12.0M | Reduce -16.4% |
| LEGH Legacy Housing Corp. | 1.94% | 472,935 | $11.7M | Add +34.0% |
| UNH Unitedhealth Group Inc. | 1.88% | 22,378 | $11.3M | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 1.81% | 57,660 | $10.9M | Reduce -5.9% |
| AEP American Electric Power | 1.63% | 106,204 | $9.8M | Reduce -0.8% |
| OPLN Openlane Inc. | 1.62% | 492,011 | $9.8M | New |
| ABBV Abbvie Inc. | 1.62% | 54,930 | $9.8M | Reduce -0.9% |
| KDP Keurig Dr Pepper Inc. | 1.59% | 297,621 | $9.6M | Reduce -1.4% |
| HHH Howard Hughes Holdings Inc. | 1.39% | 109,020 | $8.4M | Add +10.1% |
| GSK GSK PLC-Spon ADR | 1.36% | 241,974 | $8.2M | Reduce -7.7% |
| VZ Verizon Communications Inc. | 1.30% | 195,904 | $7.8M | Reduce -0.4% |
| HUBB Hubbell Inc. | 1.24% | 17,824 | $7.5M | Reduce -1.1% |
| EME Emcor Group Inc. | 1.23% | 16,340 | $7.4M | Reduce -1.0% |
| CME Cme Group Inc. | 1.21% | 31,371 | $7.3M | Reduce -0.6% |
| EEX Emerald Holding Inc. | 1.05% | 1,309,139 | $6.3M | Add +15.4% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 0.98% | 103,575 | $5.9M | Reduce -1.3% |
| SHV iShares 0-1 Year Treasury Bo | 0.95% | 52,088 | $5.7M | Add +23.7% |
| FLUT Flutter Entertainment PLC-Di | 0.94% | 21,781 | $5.6M | Reduce -2.3% |
| LAMR Lamar Advertising Co. Class A | 0.90% | 44,279 | $5.4M | Reduce -0.7% |
| UL Unilever PLC | 0.82% | 87,503 | $5.0M | Reduce -1.1% |
| NIC Nicolet Bankshares Inc. | 0.78% | 44,723 | $4.7M | Add +0.3% |
| FERG Ferguson Enterprises Inc. | 0.77% | 26,648 | $4.6M | Add +4.3% |
| ESI Element Solutions Inc. | 0.71% | 167,029 | $4.2M | Add +14.0% |
| VGSH Vanguard Short-Term Treasury | 0.67% | 69,657 | $4.1M | No change |
| FA First Advantage Corp. | 0.66% | 212,446 | $4.0M | Add +0.6% |
| HMC Honda Motor Co. Ltd.-Spons ADR | 0.62% | 129,673 | $3.7M | Reduce -11.3% |
| ABG Asbury Automotive Group | 0.60% | 14,821 | $3.6M | Reduce -48.2% |
| VOO Vanguard S&P 500 ETF | 0.58% | 6,522 | $3.5M | Add +1.2% |
| VCIT Vanguard Int-Term Corporate | 0.57% | 42,929 | $3.4M | No change |
| FRME First Merchants Corp. | 0.53% | 79,515 | $3.2M | Reduce -0.2% |
| SKY Champion Homes Inc. | 0.52% | 35,687 | $3.1M | Reduce -0.6% |
| DSGR Distribution Solutions Group | 0.50% | 88,090 | $3.0M | Reduce -25.5% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.49% | 57,761 | $3.0M | No change |
| HD Home Depot Inc. | 0.48% | 7,481 | $2.9M | Add +0.1% |
| WBS Webster Financial Corp. | 0.48% | 52,362 | $2.9M | No change |
| SGOV iShares 0-3 Month Treasury B | 0.47% | 28,346 | $2.8M | New |
| HQY Healthequity Inc. | 0.46% | 29,085 | $2.8M | Add +0.1% |
| VIG Vanguard Dividend Apprec ETF | 0.46% | 13,985 | $2.7M | No change |
| OSW Onespaworld Holdings Ltd. | 0.44% | 133,316 | $2.7M | Reduce -0.3% |
| ALG Alamo Group Inc. | 0.40% | 12,830 | $2.4M | No change |
| TTGT Techtarget Inc. | 0.39% | 119,268 | $2.4M | New |
| NCNO Ncino Inc. | 0.39% | 69,477 | $2.3M | New |
| EXP Eagle Materials Inc. | 0.38% | 9,255 | $2.3M | Add +0.2% |
| ACWI iShares MSCI Acwi ETF | 0.37% | 18,907 | $2.2M | Add +571.4% |
| PBI Pitney Bowes Inc. | 0.35% | 288,860 | $2.1M | Add +0.3% |
| AZO AutoZone Inc. | 0.34% | 632 | $2.0M | Add +1.9% |
| MCRI Monarch Casino & Resort Inc. | 0.33% | 25,445 | $2.0M | Add +0.0% |
| ARES Ares Management Corp. Class A | 0.33% | 11,336 | $2.0M | Reduce -0.1% |
| GO Grocery Outlet Holding Corp. | 0.33% | 128,200 | $2.0M | Reduce -4.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.33% | 4,318 | $2.0M | Add +0.7% |
| JPM JPMorgan Chase & Co. | 0.32% | 8,136 | $2.0M | Reduce -8.9% |
| RSP Invesco S&P 500 Equal Weight | 0.32% | 11,001 | $1.9M | Add +0.0% |
| CDW CDW Corp. | 0.32% | 10,984 | $1.9M | Add +17.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.31% | 24,189 | $1.9M | No change |
| DAC Danaos Corp. | 0.31% | 23,116 | $1.9M | Add +0.9% |
| AAPL Apple Inc. | 0.30% | 7,190 | $1.8M | Reduce -0.1% |
| ACN Accenture PLC Class A | 0.29% | 5,038 | $1.8M | Reduce -0.6% |
| BELFA Bel Fuse Inc. Class A | 0.29% | 19,242 | $1.7M | No change |
| CASS Cass Information Systems Inc. | 0.29% | 42,110 | $1.7M | Reduce -28.3% |
| FND Floor & Decor Holdings Inc. Class A | 0.29% | 17,271 | $1.7M | Add +0.7% |
| AXP American Express Co. | 0.28% | 5,628 | $1.7M | Reduce -13.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.27% | 37,043 | $1.6M | Reduce -9.0% |
| SYBT Stock Yards Bancorp Inc. | 0.27% | 22,700 | $1.6M | Add +0.3% |
| BC Brunswick Corp. | 0.27% | 25,030 | $1.6M | Add +0.3% |
| AEO American Eagle Outfitters | 0.27% | 96,743 | $1.6M | Reduce -8.8% |
| MBB iShares MBS ETF | 0.27% | 17,518 | $1.6M | No change |
| STLD Steel Dynamics Inc. | 0.26% | 13,921 | $1.6M | Reduce -1.1% |
| NTAP Netapp Inc. | 0.26% | 13,433 | $1.6M | Reduce -0.6% |
| UNP Union Pacific Corp. | 0.25% | 6,650 | $1.5M | Add +1.6% |
| VVV Valvoline Inc. | 0.25% | 41,045 | $1.5M | Add +0.7% |
| ATR Aptargroup Inc. | 0.25% | 9,425 | $1.5M | Add +0.2% |
| CPK Chesapeake Utilities Corp. | 0.25% | 12,163 | $1.5M | Add +1.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 12,149 | $1.5M | Add +0.0% |
| CVX Chevron Corp. | 0.24% | 9,923 | $1.4M | Add +1.4% |
| AX Axos Financial Inc. | 0.24% | 20,315 | $1.4M | Add +68.5% |
| MCD McDonald's Corp. | 0.22% | 4,668 | $1.4M | Add +19.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.22% | 5,095 | $1.3M | No change |
| GTES Gates Industrial Corp. UK Ltd. | 0.22% | 65,048 | $1.3M | Reduce -11.1% |
| EHC Encompass Health Corp. | 0.22% | 14,449 | $1.3M | Add +0.5% |
| ORCL Oracle Corp. | 0.22% | 7,812 | $1.3M | No change |
| ABT Abbott Laboratories | 0.21% | 11,279 | $1.3M | Add +2.3% |
| LRCX Lam Research Corp. | 0.21% | 17,271 | $1.2M | Reduce -1.3% |
| LMT Lockheed Martin Corp. | 0.20% | 2,532 | $1.2M | No change |
| ALTG Alta Equipment Group Inc. | 0.20% | 186,480 | $1.2M | Reduce -13.4% |
| SMCI Super Micro Computer Inc. | 0.20% | 39,188 | $1.2M | New |
Portfolio Sells Q3 2024 → Q4 2024
| MRK Merck & Co. Inc. | Sold out | 0.00% | −2.09 |
| MLR Miller Industries Inc. | Reduce -26.8% | 2.95% | −1.07 |
| VUSB Vanguard Ultra Short Bond Et | Reduce -76.8% | 0.18% | −0.64 |
| ABG Asbury Automotive Group | Reduce -48.2% | 0.60% | −0.61 |
| ESGR Enstar Group Ltd. | Reduce -16.4% | 2.00% | −0.55 |
| GSK GSK PLC-Spon ADR | Reduce -7.7% | 1.36% | −0.54 |
| UNH Unitedhealth Group Inc. | Reduce -0.7% | 1.88% | −0.46 |
| KDP Keurig Dr Pepper Inc. | Reduce -1.4% | 1.59% | −0.42 |
| AEP American Electric Power | Reduce -0.8% | 1.63% | −0.32 |
| ABBV Abbvie Inc. | Reduce -0.9% | 1.62% | −0.32 |
| DSGR Distribution Solutions Group | Reduce -25.5% | 0.50% | −0.30 |
| ALKT Alkami Technology Inc. | Sold out | 0.00% | −0.28 |
| IBTE iShares Ibonds Dec 2024 Term | Sold out | 0.00% | −0.27 |
| VZ Verizon Communications Inc. | Reduce -0.4% | 1.30% | −0.27 |
| IBTF iShares Ibonds Dec 2025 Term | Sold out | 0.00% | −0.23 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Reduce -11.3% | 0.62% | −0.21 |
| MSFT Microsoft Corp. | Reduce -0.7% | 2.02% | −0.20 |
| UL Unilever PLC | Reduce -1.1% | 0.82% | −0.20 |
| KB KB Financial Group Inc.-ADR | Reduce -1.3% | 0.98% | −0.17 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.17 |
| LAMR Lamar Advertising Co. Class A | Reduce -0.7% | 0.90% | −0.16 |
| AEO American Eagle Outfitters | Reduce -8.8% | 0.27% | −0.15 |
| CASS Cass Information Systems Inc. | Reduce -28.3% | 0.29% | −0.15 |
| HUBB Hubbell Inc. | Reduce -1.1% | 1.24% | −0.13 |
| ARW Arrow Electronics Inc. | Sold out | 0.00% | −0.13 |
| INSE Inspired Entertainment Inc. | Sold out | 0.00% | −0.12 |
| DINO HF Sinclair Corp. | Sold out | 0.00% | −0.09 |
| GO Grocery Outlet Holding Corp. | Reduce -4.3% | 0.33% | −0.09 |
| SKY Champion Homes Inc. | Reduce -0.6% | 0.52% | −0.08 |
| WSO Watsco Inc. | Sold out | 0.00% | −0.08 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.06 |
| ALTG Alta Equipment Group Inc. | Reduce -13.4% | 0.20% | −0.06 |
| STLD Steel Dynamics Inc. | Reduce -1.1% | 0.26% | −0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.05 |
| LRCX Lam Research Corp. | Reduce -1.3% | 0.21% | −0.05 |
| NTAP Netapp Inc. | Reduce -0.6% | 0.26% | −0.04 |
| OCSL Oaktree Specialty Lending Co. | Sold out | 0.00% | −0.04 |
| AXP American Express Co. | Reduce -13.1% | 0.28% | −0.03 |
| BX Blackstone Inc. | Reduce -24.3% | 0.13% | −0.03 |
| EME Emcor Group Inc. | Reduce -1.0% | 1.23% | −0.03 |
| CME Cme Group Inc. | Reduce -0.6% | 1.21% | −0.03 |
| CTLP Cantaloupe Inc. | Reduce -26.1% | 0.20% | −0.02 |
| RWAY Runway Growth Finance Corp. | Sold out | 0.00% | −0.02 |
| ACN Accenture PLC Class A | Reduce -0.6% | 0.29% | −0.02 |
| BAC Bank of America Corp. | Reduce -9.0% | 0.27% | −0.02 |
| JPM JPMorgan Chase & Co. | Reduce -8.9% | 0.32% | −0.01 |
| ARCC Ares Capital Corp. | Reduce -2.5% | 0.12% | −0.01 |
| GTES Gates Industrial Corp. UK Ltd. | Reduce -11.1% | 0.22% | −0.01 |
| FLUT Flutter Entertainment PLC-Di | Reduce -2.3% | 0.94% | −0.00 |
| TSLX Sixth Street Specialty Lendi | Reduce -4.0% | 0.04% | −0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| JBTM JBT Marel Corp. | Add +93.0% | 3.94% | +2.25 |
| OPLN Openlane Inc. | New | 1.62% | +1.62 |
| SSB Southstate Bank Corp. | Add +269.8% | 2.13% | +1.53 |
| BELFB Bel Fuse Inc. Class B | Add +27.4% | 4.30% | +0.87 |
| TRS Trimas Corp. | Add +41.2% | 3.08% | +0.66 |
| WAL Western Alliance Bancorp | Add +52.7% | 2.11% | +0.58 |
| SGOV iShares 0-3 Month Treasury B | New | 0.47% | +0.47 |
| PM Philip Morris International | Add +29.1% | 2.42% | +0.40 |
| TTGT Techtarget Inc. | New | 0.39% | +0.39 |
| NCNO Ncino Inc. | New | 0.39% | +0.39 |
| ACWI iShares MSCI Acwi ETF | Add +571.4% | 0.37% | +0.31 |
| PHIN Phinia Inc. | Add +12.1% | 3.32% | +0.29 |
| LEGH Legacy Housing Corp. | Add +34.0% | 1.94% | +0.23 |
| MTG Mgic Investment Corp. | Add +25.9% | 2.39% | +0.20 |
| SMCI Super Micro Computer Inc. | New | 0.20% | +0.20 |
| SHV iShares 0-1 Year Treasury Bo | Add +23.7% | 0.95% | +0.13 |
| AX Axos Financial Inc. | Add +68.5% | 0.24% | +0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.10% | +0.10 |
| ORRF Orrstown Finl Services Inc. | New | 0.09% | +0.09 |
| HI Hillenbrand Inc. | Add +155.1% | 0.10% | +0.06 |
| IEV iShares Europe ETF | New | 0.05% | +0.05 |
| PFGC Performance Food Group Co. | Add +1.2% | 2.11% | +0.04 |
| EEX Emerald Holding Inc. | Add +15.4% | 1.05% | +0.04 |
| HQY Healthequity Inc. | Add +0.1% | 0.46% | +0.04 |
| HHH Howard Hughes Holdings Inc. | Add +10.1% | 1.39% | +0.03 |
| BRBR Bellring Brands Inc. | Add +0.5% | 0.19% | +0.03 |
| COP Conocophillips | Add +31.5% | 0.19% | +0.03 |
| UNM Unum Group | Add +0.5% | 0.18% | +0.02 |
| NIC Nicolet Bankshares Inc. | Add +0.3% | 0.78% | +0.02 |
| SYBT Stock Yards Bancorp Inc. | Add +0.3% | 0.27% | +0.02 |
| MCD McDonald's Corp. | Add +19.3% | 0.22% | +0.01 |
| ALSN Allison Transmission Holding | Add +0.5% | 0.19% | +0.01 |
| SUPN Supernus Pharmaceuticals Inc. | Add +0.5% | 0.10% | +0.01 |
| MTDR Matador Resources Co. | Add +0.5% | 0.09% | +0.01 |
| BYD Boyd Gaming Corp. | Add +0.5% | 0.09% | +0.00 |
| NKGN Nkgen Biotech Inc. | New | 0.00% | +0.00 |
| GENI Genius Sports Ltd. | Add +0.4% | 0.11% | +0.00 |
| ESI Element Solutions Inc. | Add +14.0% | 0.71% | −0.00 |
| WSR Whitestone REIT | Add +0.5% | 0.13% | −0.00 |
| SR Spire Inc. | Add +0.6% | 0.06% | −0.00 |
| META Meta Platforms Inc. Class A | Add +0.1% | 0.16% | −0.01 |
| OC Owens Corning | Add +0.5% | 0.08% | −0.01 |
| TJX TJX Companies Inc. | Add +0.0% | 0.24% | −0.01 |
| SHY iShares 1-3 Year Treasury Bo | Add +1.7% | 0.16% | −0.01 |
| NRG NRG Energy Inc. | Add +0.6% | 0.14% | −0.01 |
| AZO AutoZone Inc. | Add +1.9% | 0.34% | −0.01 |
| RYZ Ryerson Holding Corp. | Add +0.5% | 0.07% | −0.01 |
| NVT Nvent Electric PLC | Add +0.3% | 0.11% | −0.01 |
| ABT Abbott Laboratories | Add +2.3% | 0.21% | −0.01 |
| RS Reliance Inc. | Add +0.4% | 0.08% | −0.01 |
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 |