Advisory Research Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Advisory Research Inc. reported 142 stock positions worth $650.9 million. Its top holding was Bel Fuse Class B (BELFB) at 5.9% of the portfolio, followed by Trimas (TRS, 4.6%) and Philip Morris International (PM, 4.1%). Compared with Q1 2025, it opened 7 new positions, sold out of 13, added to 80 and reduced 42. The biggest buy was Broadcom (AVGO, shares +17%) and the biggest sale an exit from iShares MSCI Acwi ETF (ACWI).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0000902584
- Portfolio Value
- $650.9M (Q2 2025)
- SEC Filing
- 0001085146-25-005021 ↗ filed Aug 13, 2025
Holdings Value
Holdings 142 stocks · $650.9M
| BELFB Bel Fuse Inc. Class B | 5.87% | 390,858 | $38.2M | Add +4.2% |
| TRS Trimas Corp. | 4.60% | 1,046,803 | $29.9M | Add +5.4% |
| PM Philip Morris International | 4.11% | 146,974 | $26.8M | Add +12.6% |
| AVGO Broadcom Inc. | 3.60% | 85,046 | $23.4M | Add +16.7% |
| TSM Taiwan Semiconductor-SP ADR | 3.36% | 96,601 | $21.9M | Add +15.2% |
| OPLN Openlane Inc. | 3.15% | 839,231 | $20.5M | Add +3.4% |
| PRSU Pursuit Attractions and Hosp | 2.78% | 626,784 | $18.1M | Add +30.1% |
| MTG Mgic Investment Corp. | 2.76% | 644,742 | $17.9M | Add +22.3% |
| MSFT Microsoft Corp. | 2.48% | 32,430 | $16.1M | Add +17.5% |
| JBTM JBT Marel Corp. | 2.47% | 133,861 | $16.1M | Reduce -31.7% |
| DJCO Daily Journal Corp. | 2.45% | 37,840 | $16.0M | Add +8.8% |
| TPR Tapestry Inc. | 2.37% | 175,360 | $15.4M | Add +15.8% |
| LEGH Legacy Housing Corp. | 2.29% | 658,507 | $14.9M | Add +3.4% |
| PHIN Phinia Inc. | 2.25% | 329,517 | $14.7M | Reduce -25.8% |
| CME Cme Group Inc. | 2.17% | 51,236 | $14.1M | Add +31.9% |
| SSB Southstate Bank Corp. | 2.08% | 146,929 | $13.5M | Add +42.4% |
| PFGC Performance Food Group Co. | 1.94% | 144,245 | $12.6M | Reduce -4.7% |
| AEP American Electric Power | 1.81% | 113,717 | $11.8M | Add +15.8% |
| ABBV Abbvie Inc. | 1.71% | 60,121 | $11.2M | Add +16.8% |
| GOOGL Alphabet Inc. Class A | 1.69% | 62,422 | $11.0M | Add +51.3% |
| KDP Keurig Dr Pepper Inc. | 1.68% | 331,468 | $11.0M | Add +17.5% |
| EXP Eagle Materials Inc. | 1.52% | 48,944 | $9.9M | Add +343.4% |
| GSK GSK PLC-Spon ADR | 1.42% | 240,421 | $9.2M | Add +5.8% |
| EEX Emerald Holding Inc. | 1.32% | 1,776,142 | $8.6M | Reduce -1.6% |
| HUBB Hubbell Inc. | 1.25% | 19,921 | $8.1M | Add +19.2% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 1.24% | 97,765 | $8.1M | Add +5.5% |
| SGOV iShares 0-3 Month Treasury B | 1.22% | 78,797 | $7.9M | Add +7.1% |
| UNH Unitedhealth Group Inc. | 1.15% | 24,043 | $7.5M | Add +14.3% |
| VZ Verizon Communications Inc. | 1.05% | 157,709 | $6.8M | Reduce -15.5% |
| AAPL Apple Inc. | 1.03% | 32,641 | $6.7M | Add +16.3% |
| FERG Ferguson Enterprises Inc. | 1.03% | 30,657 | $6.7M | Add +15.3% |
| LAMR Lamar Advertising Co. Class A | 0.96% | 51,550 | $6.3M | Add +21.6% |
| META Meta Platforms Inc. Class A | 0.93% | 8,185 | $6.0M | Add +14.4% |
| FLUT Flutter Entertainment PLC-Di | 0.92% | 21,040 | $6.0M | Add +8.8% |
| UL Unilever PLC | 0.82% | 86,777 | $5.3M | Add +5.5% |
| NIC Nicolet Bankshares Inc. | 0.81% | 42,582 | $5.3M | Reduce -3.5% |
| SHV iShares 0-1 Year Treasury Bo | 0.71% | 42,103 | $4.6M | No change |
| VGSH Vanguard Short-Term Treasury | 0.63% | 69,657 | $4.1M | No change |
| VCIT Vanguard Int-Term Corporate | 0.56% | 44,228 | $3.7M | Add +1.3% |
| HMC Honda Motor Co. Ltd.-Spons ADR | 0.55% | 124,893 | $3.6M | Add +10.4% |
| HD Home Depot Inc. | 0.54% | 9,626 | $3.5M | Add +27.1% |
| WAL Western Alliance Bancorp | 0.54% | 44,830 | $3.5M | Reduce -29.4% |
| VOO Vanguard S&P 500 ETF | 0.54% | 6,142 | $3.5M | Add +2.8% |
| REVG Rev Group Inc. | 0.53% | 72,570 | $3.5M | New |
| DAC Danaos Corp. | 0.49% | 36,815 | $3.2M | Add +50.4% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.47% | 57,761 | $3.1M | No change |
| ABG Asbury Automotive Group | 0.47% | 12,841 | $3.1M | Reduce -5.1% |
| PBI Pitney Bowes Inc. | 0.46% | 272,687 | $3.0M | Reduce -5.5% |
| ACA Arcosa Inc. | 0.45% | 33,625 | $2.9M | Reduce -4.5% |
| FRME First Merchants Corp. | 0.44% | 75,438 | $2.9M | Reduce -4.9% |
| VVV Valvoline Inc. | 0.44% | 75,299 | $2.9M | Reduce -5.0% |
| ARES Ares Management Corp. Class A | 0.43% | 16,105 | $2.8M | Add +37.0% |
| STLD Steel Dynamics Inc. | 0.43% | 21,668 | $2.8M | Add +47.4% |
| MLR Miller Industries Inc. | 0.41% | 60,752 | $2.7M | Reduce -4.8% |
| VIG Vanguard Dividend Apprec ETF | 0.40% | 12,868 | $2.6M | No change |
| ORCL Oracle Corp. | 0.40% | 12,043 | $2.6M | Add +49.1% |
| LRCX Lam Research Corp. | 0.40% | 26,991 | $2.6M | Add +47.2% |
| WBS Webster Financial Corp. | 0.40% | 47,532 | $2.6M | Reduce -8.8% |
| OSW Onespaworld Holdings Ltd. | 0.39% | 125,618 | $2.6M | Reduce -5.7% |
| BELFA Bel Fuse Inc. Class A | 0.39% | 28,250 | $2.5M | Add +46.8% |
| NCNO Ncino Inc. | 0.36% | 83,668 | $2.3M | Reduce -11.1% |
| HQY Healthequity Inc. | 0.36% | 22,292 | $2.3M | Reduce -23.3% |
| ACN Accenture PLC Class A | 0.35% | 7,669 | $2.3M | Add +46.3% |
| DSGR Distribution Solutions Group | 0.35% | 82,131 | $2.3M | Reduce -5.6% |
| NTAP Netapp Inc. | 0.34% | 21,021 | $2.2M | Add +48.6% |
| AZO AutoZone Inc. | 0.34% | 590 | $2.2M | Reduce -1.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.32% | 25,912 | $2.1M | Add +2.3% |
| MCRI Monarch Casino & Resort Inc. | 0.31% | 23,567 | $2.0M | Reduce -6.3% |
| AX Axos Financial Inc. | 0.31% | 26,445 | $2.0M | Add +29.8% |
| JPM JPMorgan Chase & Co. | 0.31% | 6,872 | $2.0M | Reduce -1.9% |
| JEF Jefferies Financial Group Inc. | 0.30% | 35,660 | $2.0M | New |
| EME Emcor Group Inc. | 0.30% | 3,630 | $1.9M | Add +48.9% |
| EHC Encompass Health Corp. | 0.29% | 15,547 | $1.9M | Add +7.3% |
| RSP Invesco S&P 500 Equal Weight | 0.29% | 10,394 | $1.9M | Add +0.0% |
| ALKT Alkami Technology Inc. | 0.29% | 62,040 | $1.9M | New |
| CDW CDW Corp. | 0.28% | 10,352 | $1.8M | Reduce -1.6% |
| MYE Myers Industries Inc. | 0.27% | 122,495 | $1.8M | New |
| LMT Lockheed Martin Corp. | 0.27% | 3,798 | $1.8M | Add +43.3% |
| MTN Vail Resorts Inc. | 0.27% | 11,080 | $1.7M | New |
| AXP American Express Co. | 0.26% | 5,301 | $1.7M | Reduce -1.6% |
| CASS Cass Information Systems Inc. | 0.26% | 38,439 | $1.7M | Reduce -7.1% |
| SYBT Stock Yards Bancorp Inc. | 0.25% | 20,973 | $1.7M | Reduce -7.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.25% | 34,812 | $1.6M | Reduce -1.6% |
| MBB iShares MBS ETF | 0.25% | 17,518 | $1.6M | No change |
| NRG NRG Energy Inc. | 0.25% | 10,110 | $1.6M | Add +7.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.24% | 3,198 | $1.6M | Reduce -1.7% |
| AEO American Eagle Outfitters | 0.24% | 159,133 | $1.5M | Add +42.5% |
| ESI Element Solutions Inc. | 0.22% | 62,927 | $1.4M | Add +12.8% |
| UNP Union Pacific Corp. | 0.22% | 6,185 | $1.4M | Reduce -2.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 11,399 | $1.4M | Reduce -2.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.21% | 4,902 | $1.4M | Add +4.6% |
| VEA Vanguard Ftse Developed ETF | 0.21% | 23,938 | $1.4M | Add +2.5% |
| CPK Chesapeake Utilities Corp. | 0.21% | 11,307 | $1.4M | Reduce -2.4% |
| GTES Gates Industrial Corp. UK Ltd. | 0.21% | 58,687 | $1.4M | Reduce -5.3% |
| CVX Chevron Corp. | 0.20% | 9,209 | $1.3M | Reduce -2.4% |
| MCD McDonald's Corp. | 0.20% | 4,395 | $1.3M | Reduce -1.4% |
| UNM Unum Group | 0.20% | 15,755 | $1.3M | Add +7.5% |
| ABT Abbott Laboratories | 0.19% | 9,205 | $1.3M | Reduce -1.8% |
| RRX Regal Rexnord Corp. | 0.17% | 7,800 | $1.1M | Reduce -1.5% |
| COP Conocophillips | 0.17% | 12,592 | $1.1M | Reduce -4.9% |
Portfolio Sells Q1 2025 → Q2 2025
| ACWI iShares MSCI Acwi ETF | Sold out | 0.00% | −2.06 |
| JBTM JBT Marel Corp. | Reduce -31.7% | 2.47% | −1.75 |
| PHIN Phinia Inc. | Reduce -25.8% | 2.25% | −1.07 |
| CNNE Cannae Holdings Inc. | Sold out | 0.00% | −0.97 |
| VZ Verizon Communications Inc. | Reduce -15.5% | 1.05% | −0.44 |
| WAL Western Alliance Bancorp | Reduce -29.4% | 0.54% | −0.32 |
| TTGT Techtarget Inc. | Sold out | 0.00% | −0.31 |
| ALG Alamo Group Inc. | Sold out | 0.00% | −0.26 |
| SKY Champion Homes Inc. | Sold out | 0.00% | −0.25 |
| ATR Aptargroup Inc. | Sold out | 0.00% | −0.24 |
| FND Floor & Decor Holdings Inc. Class A | Sold out | 0.00% | −0.24 |
| HHH Howard Hughes Holdings Inc. | Sold out | 0.00% | −0.24 |
| BC Brunswick Corp. | Sold out | 0.00% | −0.23 |
| OUT Outfront Media Inc. | Sold out | 0.00% | −0.23 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.18 |
| PFGC Performance Food Group Co. | Reduce -4.7% | 1.94% | −0.16 |
| ALTG Alta Equipment Group Inc. | Sold out | 0.00% | −0.15 |
| FRME First Merchants Corp. | Reduce -4.9% | 0.44% | −0.12 |
| NCNO Ncino Inc. | Reduce -11.1% | 0.36% | −0.10 |
| HQY Healthequity Inc. | Reduce -23.3% | 0.36% | −0.09 |
| DSGR Distribution Solutions Group | Reduce -5.6% | 0.35% | −0.08 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.08 |
| CVX Chevron Corp. | Reduce -2.4% | 0.20% | −0.08 |
| WBS Webster Financial Corp. | Reduce -8.8% | 0.40% | −0.07 |
| COP Conocophillips | Reduce -4.9% | 0.17% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.7% | 0.24% | −0.07 |
| AZO AutoZone Inc. | Reduce -1.3% | 0.34% | −0.07 |
| MLR Miller Industries Inc. | Reduce -4.8% | 0.41% | −0.06 |
| CASS Cass Information Systems Inc. | Reduce -7.1% | 0.26% | −0.06 |
| ABG Asbury Automotive Group | Reduce -5.1% | 0.47% | −0.06 |
| CPK Chesapeake Utilities Corp. | Reduce -2.4% | 0.21% | −0.05 |
| VVV Valvoline Inc. | Reduce -5.0% | 0.44% | −0.05 |
| MCD McDonald's Corp. | Reduce -1.4% | 0.20% | −0.05 |
| UNP Union Pacific Corp. | Reduce -2.3% | 0.22% | −0.04 |
| NIC Nicolet Bankshares Inc. | Reduce -3.5% | 0.81% | −0.04 |
| TJX TJX Companies Inc. | Reduce -2.0% | 0.22% | −0.03 |
| MCRI Monarch Casino & Resort Inc. | Reduce -6.3% | 0.31% | −0.03 |
| ACA Arcosa Inc. | Reduce -4.5% | 0.45% | −0.03 |
| CTLP Cantaloupe Inc. | Reduce -45.4% | 0.06% | −0.03 |
| ABT Abbott Laboratories | Reduce -1.8% | 0.19% | −0.03 |
| SYBT Stock Yards Bancorp Inc. | Reduce -7.5% | 0.25% | −0.02 |
| CDW CDW Corp. | Reduce -1.6% | 0.28% | −0.01 |
| MAIN Main Street Capital Corp. | Reduce -18.8% | 0.03% | −0.01 |
| RS Reliance Inc. | Reduce -4.7% | 0.08% | −0.01 |
| HTGC Hercules Capital Inc. | Reduce -0.7% | 0.03% | −0.01 |
| BAC Bank of America Corp. | Reduce -1.6% | 0.25% | −0.01 |
| FSK FS KKR Capital Corp. | Reduce -2.4% | 0.03% | −0.01 |
| TSLX Sixth Street Specialty Lendi | Reduce -1.6% | 0.04% | −0.00 |
| PBI Pitney Bowes Inc. | Reduce -5.5% | 0.46% | −0.00 |
| OSW Onespaworld Holdings Ltd. | Reduce -5.7% | 0.39% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| AVGO Broadcom Inc. | Add +16.7% | 3.60% | +1.45 |
| EXP Eagle Materials Inc. | Add +343.4% | 1.52% | +1.09 |
| BELFB Bel Fuse Inc. Class B | Add +4.2% | 5.87% | +0.92 |
| TSM Taiwan Semiconductor-SP ADR | Add +15.2% | 3.36% | +0.91 |
| MSFT Microsoft Corp. | Add +17.5% | 2.48% | +0.65 |
| GOOGL Alphabet Inc. Class A | Add +51.3% | 1.69% | +0.57 |
| REVG Rev Group Inc. | New | 0.53% | +0.53 |
| TRS Trimas Corp. | Add +5.4% | 4.60% | +0.50 |
| TPR Tapestry Inc. | Add +15.8% | 2.37% | +0.49 |
| PM Philip Morris International | Add +12.6% | 4.11% | +0.46 |
| MTG Mgic Investment Corp. | Add +22.3% | 2.76% | +0.46 |
| OPLN Openlane Inc. | Add +3.4% | 3.15% | +0.39 |
| SSB Southstate Bank Corp. | Add +42.4% | 2.08% | +0.39 |
| KB KB Financial Group Inc.-ADR | Add +5.5% | 1.24% | +0.36 |
| CME Cme Group Inc. | Add +31.9% | 2.17% | +0.35 |
| JEF Jefferies Financial Group Inc. | New | 0.30% | +0.30 |
| ALKT Alkami Technology Inc. | New | 0.29% | +0.29 |
| HUBB Hubbell Inc. | Add +19.2% | 1.25% | +0.27 |
| FERG Ferguson Enterprises Inc. | Add +15.3% | 1.03% | +0.27 |
| MYE Myers Industries Inc. | New | 0.27% | +0.27 |
| MTN Vail Resorts Inc. | New | 0.27% | +0.27 |
| ORCL Oracle Corp. | Add +49.1% | 0.40% | +0.21 |
| META Meta Platforms Inc. Class A | Add +14.4% | 0.93% | +0.20 |
| LRCX Lam Research Corp. | Add +47.2% | 0.40% | +0.17 |
| FLUT Flutter Entertainment PLC-Di | Add +8.8% | 0.92% | +0.17 |
| DAC Danaos Corp. | Add +50.4% | 0.49% | +0.15 |
| BELFA Bel Fuse Inc. Class A | Add +46.8% | 0.39% | +0.15 |
| EME Emcor Group Inc. | Add +48.9% | 0.30% | +0.14 |
| NTAP Netapp Inc. | Add +48.6% | 0.34% | +0.13 |
| ARES Ares Management Corp. Class A | Add +37.0% | 0.43% | +0.12 |
| LAMR Lamar Advertising Co. Class A | Add +21.6% | 0.96% | +0.11 |
| STLD Steel Dynamics Inc. | Add +47.4% | 0.43% | +0.10 |
| NRG NRG Energy Inc. | Add +7.3% | 0.25% | +0.09 |
| AX Axos Financial Inc. | Add +29.8% | 0.31% | +0.08 |
| ACN Accenture PLC Class A | Add +46.3% | 0.35% | +0.06 |
| LMT Lockheed Martin Corp. | Add +43.3% | 0.27% | +0.06 |
| MTDR Matador Resources Co. | Add +107.9% | 0.14% | +0.06 |
| HD Home Depot Inc. | Add +27.1% | 0.54% | +0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.04% | +0.04 |
| EHC Encompass Health Corp. | Add +7.3% | 0.29% | +0.03 |
| NVT Nvent Electric PLC | Add +7.3% | 0.12% | +0.03 |
| CGBD Carlyle Secured Lending Inc. | New | 0.02% | +0.02 |
| HI Hillenbrand Inc. | Add +72.9% | 0.11% | +0.02 |
| PRGS Progress Software Corp. | Add +7.2% | 0.14% | +0.02 |
| DJCO Daily Journal Corp. | Add +8.8% | 2.45% | +0.02 |
| PI Impinj Inc. | Add +7.5% | 0.12% | +0.02 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Add +10.4% | 0.55% | +0.01 |
| BYD Boyd Gaming Corp. | Add +7.3% | 0.10% | +0.01 |
| ADUS Addus Homecare Corp. | Add +7.3% | 0.09% | +0.01 |
| AEO American Eagle Outfitters | Add +42.5% | 0.24% | +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 |