ADVISORY RESEARCH INC Diversified Active

Name: ADVISORY RESEARCH INC Q2 2026 13F Filing | 13F Explorer
Creator: ADVISORY RESEARCH INC
Published: 2026-08-13

Location: Chicago, IL

CIK: 0000902584 · Show all filings

Period: Q2 2026 (← Previous)

Filing Date: Aug 13, 2026

Total Value: $1.002B (100.0% shares, 0.0% debt)

Holdings (136)

New Positions (3)

MFP MIDERA FOOD PROCESSING INC 0.4%

Value $4.429M Shares 110,714 Share Price $40.00 Est. Cost/Share $40.00 Unrealized @ Report Date —

ACWI ISHARES TR 0.0%

Value $351K Shares 2,237 Share Price $157.00 Est. Cost/Share $157.00 Unrealized @ Report Date —

CUE CUE BIOPHARMA INC 0.0%

Value $271K Shares 8,573 Share Price $31.56 Est. Cost/Share $31.56 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MFP	MIDERA FOOD PROCESSING INC	110,714	$4.429M	0.4%	$40.00	$40.00	—	COM	59739R104
ACWI	ISHARES TR	2,237	$351K	0.0%	$157.00	$157.00	—	MSCI ACWI ETF	464288257
CUE	CUE BIOPHARMA INC	8,573	$271K	0.0%	$31.56	$31.56	—	COM	22978P205

Increased Positions (47)

MYE MYERS INDS INC 6.5%

Value $65.6M (+103.0%) Shares 1,857,873 (+21.8%) Share Price $35.31 Est. Cost/Share $20.20 Unrealized @ Report Date —

OPLN OPENLANE INC 6.3%

Value $63.24M (+69.3%) Shares 1,533,557 (+19.7%) Share Price $41.24 Est. Cost/Share $25.44 Unrealized @ Report Date —

TRS TRIMAS CORP 5.4%

Value $54.56M (+35.6%) Shares 1,211,587 (+8.2%) Share Price $45.03 Est. Cost/Share $29.49 Unrealized @ Report Date —

TSM TAIWAN SEMICONDUCTOR MANUFAC 4.0%

Value $40.33M (+45.9%) Shares 84,453 (+3.3%) Share Price $477.57 Est. Cost/Share $160.75 Unrealized @ Report Date —

LTM LATAM AIRLINES GROUP SA 1.6%

Value $15.97M (+227.8%) Shares 274,022 (+178.1%) Share Price $58.27 Est. Cost/Share $55.10 Unrealized @ Report Date —

JBTM JBT MAREL CORPORATION 2.7%

Value $27.53M (+53.0%) Shares 189,869 (+34.9%) Share Price $145.00 Est. Cost/Share $120.66 Unrealized @ Report Date —

GOOGL ALPHABET INC 3.4%

Value $33.89M (+26.4%) Shares 94,824 (+1.7%) Share Price $357.37 Est. Cost/Share $181.62 Unrealized @ Report Date —

KDP KEURIG DR PEPPER INC 2.8%

Value $28.4M (+28.5%) Shares 867,771 (+3.4%) Share Price $32.73 Est. Cost/Share $28.95 Unrealized @ Report Date —

AVGO BROADCOM INC 2.5%

Value $24.74M (+25.5%) Shares 65,495 (+2.8%) Share Price $377.75 Est. Cost/Share $163.82 Unrealized @ Report Date —

INTU INTUIT 0.7%

Value $7.424M (-37.0%) Shares 28,443 (+4.4%) Share Price $261.00 Est. Cost/Share $487.62 Unrealized @ Report Date —

CME CME GROUP INC 1.5%

Value $14.82M (-22.4%) Shares 67,088 (+3.8%) Share Price $220.83 Est. Cost/Share $231.08 Unrealized @ Report Date —

LAMR LAMAR ADVERTISING CO 1.3%

Value $12.91M (+34.7%) Shares 82,766 (+9.4%) Share Price $155.98 Est. Cost/Share $109.32 Unrealized @ Report Date —

ABBV ABBVIE INC 1.9%

Value $19.15M (+20.5%) Shares 76,085 (+4.1%) Share Price $251.64 Est. Cost/Share $124.01 Unrealized @ Report Date —

ACMR ACM RESH INC 0.4%

Value $3.646M (+227.4%) Shares 28,732 (+1.5%) Share Price $126.89 Est. Cost/Share $32.45 Unrealized @ Report Date —

MPTI M-TRON INDS INC 0.6%

Value $5.851M (+73.2%) Shares 59,011 (+16.8%) Share Price $99.15 Est. Cost/Share $62.02 Unrealized @ Report Date —

PM PHILIP MORRIS INTL INC 2.2%

Value $22.09M (+11.8%) Shares 122,120 (+2.1%) Share Price $180.91 Est. Cost/Share $119.43 Unrealized @ Report Date —

MTG MGIC INVT CORP WIS 2.3%

Value $23.04M (+10.5%) Shares 816,952 (+2.8%) Share Price $28.20 Est. Cost/Share $23.34 Unrealized @ Report Date —

BOW BOWHEAD SPECIALTY HLDGS INC 0.3%

Value $2.896M (+282.9%) Shares 96,768 (+187.0%) Share Price $29.93 Est. Cost/Share $28.23 Unrealized @ Report Date —

VUSB VANGUARD BD INDEX FDS 0.6%

Value $5.981M (+46.7%) Shares 120,152 (+46.7%) Share Price $49.78 Est. Cost/Share $49.74 Unrealized @ Report Date —

SGOV ISHARES TR 0.8%

Value $7.724M (+27.7%) Shares 76,730 (+27.6%) Share Price $100.67 Est. Cost/Share $100.53 Unrealized @ Report Date —

AEP AMERICAN ELEC PWR CO INC 2.0%

Value $20.09M (+8.6%) Shares 146,846 (+4.1%) Share Price $136.81 Est. Cost/Share $93.35 Unrealized @ Report Date —

VCSH VANGUARD SCOTTSDALE FDS 0.5%

Value $5.022M (+36.4%) Shares 63,544 (+36.8%) Share Price $79.03 Est. Cost/Share $80.47 Unrealized @ Report Date —

KB KB FINL GROUP INC 1.4%

Value $14.23M (+9.3%) Shares 135,607 (+3.8%) Share Price $104.96 Est. Cost/Share $57.62 Unrealized @ Report Date —

CMCSA COMCAST CORP NEW 0.9%

Value $9.244M (-11.4%) Shares 376,554 (+3.6%) Share Price $24.55 Est. Cost/Share $29.64 Unrealized @ Report Date —

TPR TAPESTRY INC 1.9%

Value $18.66M (+6.5%) Shares 127,464 (+2.6%) Share Price $146.38 Est. Cost/Share $62.19 Unrealized @ Report Date —

HUBB HUBBELL INC 1.3%

Value $12.79M (+9.6%) Shares 24,441 (+2.8%) Share Price $523.20 Est. Cost/Share $226.70 Unrealized @ Report Date —

BTI BRITISH AMERN TOB PLC 0.9%

Value $8.613M (+13.1%) Shares 139,453 (+7.1%) Share Price $61.76 Est. Cost/Share $55.82 Unrealized @ Report Date —

IGSB ISHARES TR 0.3%

Value $3.332M (+42.7%) Shares 63,572 (+43.1%) Share Price $52.41 Est. Cost/Share $52.76 Unrealized @ Report Date —

MPC MARATHON PETE CORP 1.0%

Value $10.3M (+8.1%) Shares 40,268 (+3.3%) Share Price $255.67 Est. Cost/Share $186.96 Unrealized @ Report Date —

ACN ACCENTURE PLC IRELAND 0.2%

Value $1.774M (-28.2%) Shares 14,255 (+14.4%) Share Price $124.44 Est. Cost/Share $260.04 Unrealized @ Report Date —

CDW CDW CORP 0.2%

Value $2.077M (+46.4%) Shares 14,771 (+26.0%) Share Price $140.64 Est. Cost/Share $109.15 Unrealized @ Report Date —

VGSH VANGUARD SCOTTSDALE FDS 0.5%

Value $4.555M (+11.7%) Shares 78,263 (+12.4%) Share Price $58.20 Est. Cost/Share $57.93 Unrealized @ Report Date —

MSFT MICROSOFT CORP 1.6%

Value $16.29M (+3.0%) Shares 43,670 (+2.2%) Share Price $373.02 Est. Cost/Share $337.92 Unrealized @ Report Date —

FERG FERGUSON ENTERPRISES INC 0.8%

Value $7.876M (+6.0%) Shares 33,184 (+4.1%) Share Price $237.33 Est. Cost/Share $198.89 Unrealized @ Report Date —

COP CONOCOPHILLIPS 0.1%

Value $795K (-20.1%) Shares 7,648 (+1.4%) Share Price $103.96 Est. Cost/Share $100.99 Unrealized @ Report Date —

META META PLATFORMS INC 1.0%

Value $10.25M (+2.0%) Shares 18,191 (+3.6%) Share Price $563.29 Est. Cost/Share $673.98 Unrealized @ Report Date —

VEA VANGUARD TAX-MANAGED FDS 0.2%

Value $1.756M (+12.7%) Shares 24,652 (+1.4%) Share Price $71.25 Est. Cost/Share $44.79 Unrealized @ Report Date —

VO VANGUARD INDEX FDS 0.2%

Value $1.616M (+13.3%) Shares 20,059 (+303.9%) Share Price $80.57 Est. Cost/Share $104.09 Unrealized @ Report Date —

ABT ABBOTT LABORATORIES 0.1%

Value $1.322M (+16.4%) Shares 14,573 (+31.7%) Share Price $90.74 Est. Cost/Share $101.80 Unrealized @ Report Date —

GENI GENIUS SPORTS LIMITED 0.1%

Value $556K (+38.8%) Shares 91,730 (+1.5%) Share Price $6.06 Est. Cost/Share $5.92 Unrealized @ Report Date —

PRGS PROGRESS SOFTWARE CORP 0.1%

Value $570K (+33.9%) Shares 16,981 (+2.3%) Share Price $33.58 Est. Cost/Share $53.50 Unrealized @ Report Date —

AZO AUTOZONE INC 0.1%

Value $1.176M (-4.1%) Shares 368 (+1.4%) Share Price $3195.94 Est. Cost/Share $1466.98 Unrealized @ Report Date —

CMC COMMERCIAL METALS CO 0.1%

Value $988K (+3.2%) Shares 15,744 (+1.1%) Share Price $62.75 Est. Cost/Share $76.80 Unrealized @ Report Date —

GSK GSK PLC 1.1%

Value $11.31M (+0.3%) Shares 215,664 (+5.6%) Share Price $52.42 Est. Cost/Share $39.79 Unrealized @ Report Date —

CPK CHESAPEAKE UTILS CORP 0.1%

Value $1.145M (-1.6%) Shares 9,350 (+1.6%) Share Price $122.48 Est. Cost/Share $95.69 Unrealized @ Report Date —

NPK NATIONAL PRESTO INDS INC 2.0%

Value $20.22M (-0.1%) Shares 161,764 (+9.6%) Share Price $124.99 Est. Cost/Share $123.45 Unrealized @ Report Date —

NOBL PROSHARES TR 0.0%

Value $251K (+6.0%) Shares 4,462 (+100.0%) Share Price $56.16 Est. Cost/Share $75.68 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MYE	MYERS INDS INC	1,857,873 (+21.8%)	$65.6M (+103.0%)	6.5%	$35.31	$20.20	—	COM	628464109
OPLN	OPENLANE INC	1,533,557 (+19.7%)	$63.24M (+69.3%)	6.3%	$41.24	$25.44	—	COM	48238T109
TRS	TRIMAS CORP	1,211,587 (+8.2%)	$54.56M (+35.6%)	5.4%	$45.03	$29.49	—	COM NEW	896215209
TSM	TAIWAN SEMICONDUCTOR MANUFAC	84,453 (+3.3%)	$40.33M (+45.9%)	4.0%	$477.57	$160.75	—	SPONSORED ADS	874039100
LTM	LATAM AIRLINES GROUP SA	274,022 (+178.1%)	$15.97M (+227.8%)	1.6%	$58.27	$55.10	—	SPONSORED ADR	51817R205
JBTM	JBT MAREL CORPORATION	189,869 (+34.9%)	$27.53M (+53.0%)	2.7%	$145.00	$120.66	—	COM	477839104
GOOGL	ALPHABET INC	94,824 (+1.7%)	$33.89M (+26.4%)	3.4%	$357.37	$181.62	—	CAP STK CL A	02079K305
KDP	KEURIG DR PEPPER INC	867,771 (+3.4%)	$28.4M (+28.5%)	2.8%	$32.73	$28.95	—	COM	49271V100
AVGO	BROADCOM INC	65,495 (+2.8%)	$24.74M (+25.5%)	2.5%	$377.75	$163.82	—	COM	11135F101
INTU	INTUIT	28,443 (+4.4%)	$7.424M (-37.0%)	0.7%	$261.00	$487.62	—	COM	461202103
CME	CME GROUP INC	67,088 (+3.8%)	$14.82M (-22.4%)	1.5%	$220.83	$231.08	—	COM	12572Q105
LAMR	LAMAR ADVERTISING CO	82,766 (+9.4%)	$12.91M (+34.7%)	1.3%	$155.98	$109.32	—	CL A	512816109
ABBV	ABBVIE INC	76,085 (+4.1%)	$19.15M (+20.5%)	1.9%	$251.64	$124.01	—	COM	00287Y109
ACMR	ACM RESH INC	28,732 (+1.5%)	$3.646M (+227.4%)	0.4%	$126.89	$32.45	—	COM CL A	00108J109
MPTI	M-TRON INDS INC	59,011 (+16.8%)	$5.851M (+73.2%)	0.6%	$99.15	$62.02	—	COM	55380K109
PM	PHILIP MORRIS INTL INC	122,120 (+2.1%)	$22.09M (+11.8%)	2.2%	$180.91	$119.43	—	COM	718172109
MTG	MGIC INVT CORP WIS	816,952 (+2.8%)	$23.04M (+10.5%)	2.3%	$28.20	$23.34	—	COM	552848103
BOW	BOWHEAD SPECIALTY HLDGS INC	96,768 (+187.0%)	$2.896M (+282.9%)	0.3%	$29.93	$28.23	—	COM SHS	10240L102
VUSB	VANGUARD BD INDEX FDS	120,152 (+46.7%)	$5.981M (+46.7%)	0.6%	$49.78	$49.74	—	VANGUARD ULTRA	92203C303
SGOV	ISHARES TR	76,730 (+27.6%)	$7.724M (+27.7%)	0.8%	$100.67	$100.53	—	0-3 MTH TREASURY	46436E718
AEP	AMERICAN ELEC PWR CO INC	146,846 (+4.1%)	$20.09M (+8.6%)	2.0%	$136.81	$93.35	—	COM	025537101
VCSH	VANGUARD SCOTTSDALE FDS	63,544 (+36.8%)	$5.022M (+36.4%)	0.5%	$79.03	$80.47	—	SHRT TRM CORP BD	92206C409
KB	KB FINL GROUP INC	135,607 (+3.8%)	$14.23M (+9.3%)	1.4%	$104.96	$57.62	—	SPONSORED ADR	48241A105
CMCSA	COMCAST CORP NEW	376,554 (+3.6%)	$9.244M (-11.4%)	0.9%	$24.55	$29.64	—	CL A	20030N101
TPR	TAPESTRY INC	127,464 (+2.6%)	$18.66M (+6.5%)	1.9%	$146.38	$62.19	—	COM	876030107
HUBB	HUBBELL INC	24,441 (+2.8%)	$12.79M (+9.6%)	1.3%	$523.20	$226.70	—	COM	443510607
BTI	BRITISH AMERN TOB PLC	139,453 (+7.1%)	$8.613M (+13.1%)	0.9%	$61.76	$55.82	—	SPONSORED ADR	110448107
IGSB	ISHARES TR	63,572 (+43.1%)	$3.332M (+42.7%)	0.3%	$52.41	$52.76	—	ISHS 1-5YR INVS	464288646
MPC	MARATHON PETE CORP	40,268 (+3.3%)	$10.3M (+8.1%)	1.0%	$255.67	$186.96	—	COM	56585A102
ACN	ACCENTURE PLC IRELAND	14,255 (+14.4%)	$1.774M (-28.2%)	0.2%	$124.44	$260.04	—	SHS CLASS A	G1151C101
CDW	CDW CORP	14,771 (+26.0%)	$2.077M (+46.4%)	0.2%	$140.64	$109.15	—	COM	12514G108
VGSH	VANGUARD SCOTTSDALE FDS	78,263 (+12.4%)	$4.555M (+11.7%)	0.5%	$58.20	$57.93	—	SHORT TERM TREAS	92206C102
MSFT	MICROSOFT CORP	43,670 (+2.2%)	$16.29M (+3.0%)	1.6%	$373.02	$337.92	—	COM	594918104
FERG	FERGUSON ENTERPRISES INC	33,184 (+4.1%)	$7.876M (+6.0%)	0.8%	$237.33	$198.89	—	COMMON STOCK NEW	31488V107
COP	CONOCOPHILLIPS	7,648 (+1.4%)	$795K (-20.1%)	0.1%	$103.96	$100.99	—	COM	20825C104
META	META PLATFORMS INC	18,191 (+3.6%)	$10.25M (+2.0%)	1.0%	$563.29	$673.98	—	CL A	30303M102
VEA	VANGUARD TAX-MANAGED FDS	24,652 (+1.4%)	$1.756M (+12.7%)	0.2%	$71.25	$44.79	—	VAN FTSE DEV MKT	921943858
VO	VANGUARD INDEX FDS	20,059 (+303.9%)	$1.616M (+13.3%)	0.2%	$80.57	$104.09	—	MID CAP ETF	922908629
ABT	ABBOTT LABORATORIES	14,573 (+31.7%)	$1.322M (+16.4%)	0.1%	$90.74	$101.80	—	COM	002824100
GENI	GENIUS SPORTS LIMITED	91,730 (+1.5%)	$556K (+38.8%)	0.1%	$6.06	$5.92	—	SHARES CL A	G3934V109
PRGS	PROGRESS SOFTWARE CORP	16,981 (+2.3%)	$570K (+33.9%)	0.1%	$33.58	$53.50	—	COM	743312100
AZO	AUTOZONE INC	368 (+1.4%)	$1.176M (-4.1%)	0.1%	$3195.94	$1466.98	—	COM	053332102
CMC	COMMERCIAL METALS CO	15,744 (+1.1%)	$988K (+3.2%)	0.1%	$62.75	$76.80	—	COM	201723103
GSK	GSK PLC	215,664 (+5.6%)	$11.31M (+0.3%)	1.1%	$52.42	$39.79	—	SPONSORED ADR	37733W204
CPK	CHESAPEAKE UTILS CORP	9,350 (+1.6%)	$1.145M (-1.6%)	0.1%	$122.48	$95.69	—	COM	165303108
NPK	NATIONAL PRESTO INDS INC	161,764 (+9.6%)	$20.22M (-0.1%)	2.0%	$124.99	$123.45	—	COM	637215104
NOBL	PROSHARES TR	4,462 (+100.0%)	$251K (+6.0%)	0.0%	$56.16	$75.68	—	S&P 500 DV ARIST	74348A467

Exited Positions (4)

EEX EMERALD HOLDING INC 0.8%

Value $8.421M Shares 1,867,195 Share Price $4.51 Est. Cost/Share $4.54 Unrealized @ Report Date —

PHIN PHINIA INC 0.3%

Value $2.546M Shares 37,203 Share Price $68.44 Est. Cost/Share $38.72 Unrealized @ Report Date —

CPRT COPART INC 0.1%

Value $923K Shares 27,788 Share Price $33.20 Est. Cost/Share $40.66 Unrealized @ Report Date —

CUE CUE BIOPHARMA INC 0.0%

Value $59,136 Shares 257,225 Share Price $0.23 Est. Cost/Share $13.72 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
EEX	EMERALD HOLDING INC	1,867,195	$8.421M	0.8%	$4.51	$4.54	—	—	29103W104
PHIN	PHINIA INC	37,203	$2.546M	0.3%	$68.44	$38.72	—	—	71880K101
CPRT	COPART INC	27,788	$923K	0.1%	$33.20	$40.66	—	—	217204106
CUE	CUE BIOPHARMA INC	257,225	$59,136	0.0%	$0.23	$13.72	—	—	22978P106

Decreased Positions (28)

BELFB BEL FUSE INC 3.9%

Value $39.26M (+66.2%) Shares 117,896 (-1.2%) Share Price $333.04 Est. Cost/Share $64.04 Unrealized @ Report Date —

PRSU PURSUIT ATTRACTIONS AND HOSP 3.7%

Value $36.81M (+51.1%) Shares 657,648 (-1.1%) Share Price $55.97 Est. Cost/Share $29.23 Unrealized @ Report Date —

APA APA CORPORATION 0.8%

Value $8.514M (-46.3%) Shares 261,415 (-30.0%) Share Price $32.57 Est. Cost/Share $26.43 Unrealized @ Report Date —

MTDR MATADOR RES CO 0.9%

Value $9.342M (-39.8%) Shares 187,674 (-23.5%) Share Price $49.78 Est. Cost/Share $45.13 Unrealized @ Report Date —

ACVA ACV AUCTIONS INC 1.8%

Value $18.06M (+40.6%) Shares 2,511,972 (-17.1%) Share Price $7.19 Est. Cost/Share $7.82 Unrealized @ Report Date —

PFGC PERFORMANCE FOOD GROUP CO 0.6%

Value $5.874M (+27.6%) Shares 52,549 (-2.2%) Share Price $111.79 Est. Cost/Share $48.75 Unrealized @ Report Date —

WBS WEBSTER FINL CORP 0.1%

Value $915K (-57.4%) Shares 11,974 (-61.3%) Share Price $76.42 Est. Cost/Share $58.11 Unrealized @ Report Date —

ACA ARCOSA INC 0.4%

Value $4.191M (+25.9%) Shares 28,846 (-8.1%) Share Price $145.29 Est. Cost/Share $91.54 Unrealized @ Report Date —

FLYW FLYWIRE CORPORATION 0.2%

Value $1.845M (+46.1%) Shares 104,995 (-3.2%) Share Price $17.57 Est. Cost/Share $12.30 Unrealized @ Report Date —

NIC NICOLET BANKSHARES INC 0.6%

Value $5.86M (+9.0%) Shares 35,434 (-2.0%) Share Price $165.39 Est. Cost/Share $74.38 Unrealized @ Report Date —

VVV VALVOLINE INC 0.4%

Value $3.584M (+13.7%) Shares 90,637 (-3.1%) Share Price $39.54 Est. Cost/Share $30.75 Unrealized @ Report Date —

JEF JEFFERIES FINANCIAL GROUP IN 0.3%

Value $2.907M (+17.3%) Shares 58,168 (-3.1%) Share Price $49.98 Est. Cost/Share $52.90 Unrealized @ Report Date —

TEX TEREX CORP NEW 0.2%

Value $2.455M (+18.6%) Shares 33,912 (-3.2%) Share Price $72.39 Est. Cost/Share $62.32 Unrealized @ Report Date —

TNC TENNANT CO 0.2%

Value $1.731M (+27.8%) Shares 19,779 (-3.1%) Share Price $87.54 Est. Cost/Share $77.89 Unrealized @ Report Date —

EXP EAGLE MATLS INC 0.3%

Value $2.832M (+14.9%) Shares 12,588 (-3.3%) Share Price $225.00 Est. Cost/Share $211.49 Unrealized @ Report Date —

ALKT ALKAMI TECHNOLOGY INC 0.3%

Value $2.821M (+12.0%) Shares 155,711 (-3.2%) Share Price $18.12 Est. Cost/Share $25.18 Unrealized @ Report Date —

SSB SOUTHSTATE BK CORP 0.5%

Value $4.64M (+6.5%) Shares 46,447 (-1.4%) Share Price $99.90 Est. Cost/Share $96.71 Unrealized @ Report Date —

FRME FIRST MERCHANTS CORP 0.3%

Value $2.854M (+8.9%) Shares 65,315 (-3.4%) Share Price $43.69 Est. Cost/Share $30.88 Unrealized @ Report Date —

ABG ASBURY AUTOMOTIVE GROUP INC 0.2%

Value $2.041M (-9.1%) Shares 10,149 (-11.7%) Share Price $201.08 Est. Cost/Share $174.95 Unrealized @ Report Date —

HLLY HOLLEY INC 0.1%

Value $805K (-19.7%) Shares 315,821 (-3.3%) Share Price $2.55 Est. Cost/Share $2.98 Unrealized @ Report Date —

ESI ELEMENT SOLUTIONS INC 0.2%

Value $1.603M (+12.8%) Shares 33,577 (-19.3%) Share Price $47.75 Est. Cost/Share $15.60 Unrealized @ Report Date —

HD HOME DEPOT INC 0.3%

Value $3.156M (+5.8%) Shares 8,950 (-1.4%) Share Price $352.68 Est. Cost/Share $328.85 Unrealized @ Report Date —

SYBT STOCK YDS BANCORP INC 0.1%

Value $1.421M (+10.1%) Shares 18,582 (-4.6%) Share Price $76.47 Est. Cost/Share $57.68 Unrealized @ Report Date —

HQY HEALTHEQUITY INC 0.3%

Value $3.164M (+2.8%) Shares 35,026 (-4.8%) Share Price $90.32 Est. Cost/Share $74.94 Unrealized @ Report Date —

MTN VAIL RESORTS INC 0.2%

Value $1.657M (+3.0%) Shares 12,174 (-3.0%) Share Price $136.15 Est. Cost/Share $148.39 Unrealized @ Report Date —

SPY STATE STR SPDR S&P 500 ETF T 0.0%

Value $441K (+12.0%) Shares 591 (-2.5%) Share Price $746.77 Est. Cost/Share $661.97 Unrealized @ Report Date —

ORCL ORACLE CORP 0.2%

Value $1.732M (-1.6%) Shares 11,821 (-1.3%) Share Price $146.55 Est. Cost/Share $123.92 Unrealized @ Report Date —

CALM CAL MAINE FOODS INC 0.4%

Value $3.594M (+0.1%) Shares 44,612 (-1.7%) Share Price $80.56 Est. Cost/Share $86.41 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BELFB	BEL FUSE INC	117,896 (-1.2%)	$39.26M (+66.2%)	3.9%	$333.04	$64.04	—	CL B	077347300
PRSU	PURSUIT ATTRACTIONS AND HOSP	657,648 (-1.1%)	$36.81M (+51.1%)	3.7%	$55.97	$29.23	—	COM	92552R406
APA	APA CORPORATION	261,415 (-30.0%)	$8.514M (-46.3%)	0.8%	$32.57	$26.43	—	COM	03743Q108
MTDR	MATADOR RES CO	187,674 (-23.5%)	$9.342M (-39.8%)	0.9%	$49.78	$45.13	—	COM	576485205
ACVA	ACV AUCTIONS INC	2,511,972 (-17.1%)	$18.06M (+40.6%)	1.8%	$7.19	$7.82	—	COM CL A	00091G104
PFGC	PERFORMANCE FOOD GROUP CO	52,549 (-2.2%)	$5.874M (+27.6%)	0.6%	$111.79	$48.75	—	COM	71377A103
WBS	WEBSTER FINL CORP	11,974 (-61.3%)	$915K (-57.4%)	0.1%	$76.42	$58.11	—	COM	947890109
ACA	ARCOSA INC	28,846 (-8.1%)	$4.191M (+25.9%)	0.4%	$145.29	$91.54	—	COM	039653100
FLYW	FLYWIRE CORPORATION	104,995 (-3.2%)	$1.845M (+46.1%)	0.2%	$17.57	$12.30	—	COM VTG	302492103
NIC	NICOLET BANKSHARES INC	35,434 (-2.0%)	$5.86M (+9.0%)	0.6%	$165.39	$74.38	—	COM	65406E102
VVV	VALVOLINE INC	90,637 (-3.1%)	$3.584M (+13.7%)	0.4%	$39.54	$30.75	—	COM	92047W101
JEF	JEFFERIES FINANCIAL GROUP IN	58,168 (-3.1%)	$2.907M (+17.3%)	0.3%	$49.98	$52.90	—	COM	47233W109
TEX	TEREX CORP NEW	33,912 (-3.2%)	$2.455M (+18.6%)	0.2%	$72.39	$62.32	—	COM	880779103
TNC	TENNANT CO	19,779 (-3.1%)	$1.731M (+27.8%)	0.2%	$87.54	$77.89	—	COM	880345103
EXP	EAGLE MATLS INC	12,588 (-3.3%)	$2.832M (+14.9%)	0.3%	$225.00	$211.49	—	COM	26969P108
ALKT	ALKAMI TECHNOLOGY INC	155,711 (-3.2%)	$2.821M (+12.0%)	0.3%	$18.12	$25.18	—	COM	01644J108
SSB	SOUTHSTATE BK CORP	46,447 (-1.4%)	$4.64M (+6.5%)	0.5%	$99.90	$96.71	—	COM	84472E102
FRME	FIRST MERCHANTS CORP	65,315 (-3.4%)	$2.854M (+8.9%)	0.3%	$43.69	$30.88	—	COM	320817109
ABG	ASBURY AUTOMOTIVE GROUP INC	10,149 (-11.7%)	$2.041M (-9.1%)	0.2%	$201.08	$174.95	—	COM	043436104
HLLY	HOLLEY INC	315,821 (-3.3%)	$805K (-19.7%)	0.1%	$2.55	$2.98	—	COM	43538H103
ESI	ELEMENT SOLUTIONS INC	33,577 (-19.3%)	$1.603M (+12.8%)	0.2%	$47.75	$15.60	—	COM	28618M106
HD	HOME DEPOT INC	8,950 (-1.4%)	$3.156M (+5.8%)	0.3%	$352.68	$328.85	—	COM	437076102
SYBT	STOCK YDS BANCORP INC	18,582 (-4.6%)	$1.421M (+10.1%)	0.1%	$76.47	$57.68	—	COM	861025104
HQY	HEALTHEQUITY INC	35,026 (-4.8%)	$3.164M (+2.8%)	0.3%	$90.32	$74.94	—	COM	42226A107
MTN	VAIL RESORTS INC	12,174 (-3.0%)	$1.657M (+3.0%)	0.2%	$136.15	$148.39	—	COM	91879Q109
SPY	STATE STR SPDR S&P 500 ETF T	591 (-2.5%)	$441K (+12.0%)	0.0%	$746.77	$661.97	—	TR UNIT	78462F103
ORCL	ORACLE CORP	11,821 (-1.3%)	$1.732M (-1.6%)	0.2%	$146.55	$123.92	—	COM	68389X105
CALM	CAL MAINE FOODS INC	44,612 (-1.7%)	$3.594M (+0.1%)	0.4%	$80.56	$86.41	—	COM NEW	128030202

Unchanged Positions (58)

LEGH LEGACY HOUSING CORP 2.4%

Value $24.18M Shares 920,286 Share Price $26.27 Est. Cost/Share $23.68 Unrealized @ Report Date —

DJCO DAILY JOURNAL CORP 2.5%

Value $24.96M Shares 41,510 Share Price $601.19 Est. Cost/Share $432.66 Unrealized @ Report Date —

LRCX LAM RESEARCH CORP 0.9%

Value $8.59M Shares 19,824 Share Price $433.33 Est. Cost/Share $78.34 Unrealized @ Report Date —

NTAP NETAPP INC 0.3%

Value $3.186M Shares 20,588 Share Price $154.76 Est. Cost/Share $87.07 Unrealized @ Report Date —

STLD STEEL DYNAMICS INC 0.5%

Value $4.804M Shares 20,934 Share Price $229.46 Est. Cost/Share $90.85 Unrealized @ Report Date —

NVT NVENT ELEC PLC 0.2%

Value $2.064M Shares 12,168 Share Price $169.61 Est. Cost/Share $50.99 Unrealized @ Report Date —

SNX TD SYNNEX CORPORATION 0.2%

Value $1.598M Shares 5,978 Share Price $267.34 Est. Cost/Share $153.18 Unrealized @ Report Date —

LMT LOCKHEED MARTIN CORP 0.3%

Value $2.722M Shares 5,343 Share Price $509.46 Est. Cost/Share $420.65 Unrealized @ Report Date —

RAL RALLIANT CORP 0.1%

Value $1.176M Shares 15,969 Share Price $73.63 Est. Cost/Share $46.94 Unrealized @ Report Date —

DAC DANAOS CORPORATION 0.6%

Value $5.802M Shares 47,412 Share Price $122.37 Est. Cost/Share $77.57 Unrealized @ Report Date —

SGHC SUPER GROUP SGHC LIMITED 0.2%

Value $1.929M Shares 142,348 Share Price $13.55 Est. Cost/Share $10.37 Unrealized @ Report Date —

AAPL APPLE INC 0.3%

Value $3.124M Shares 10,795 Share Price $289.36 Est. Cost/Share $212.67 Unrealized @ Report Date —

VOO VANGUARD INDEX FDS 0.3%

Value $2.707M Shares 3,942 Share Price $686.81 Est. Cost/Share $313.70 Unrealized @ Report Date —

XBI SPDR SERIES TRUST 0.2%

Value $1.752M Shares 11,071 Share Price $158.25 Est. Cost/Share $84.13 Unrealized @ Report Date —

RSP INVESCO EXCHANGE TRADED FD T 0.3%

Value $3.491M Shares 16,408 Share Price $212.76 Est. Cost/Share $145.74 Unrealized @ Report Date —

AAP ADVANCE AUTO PARTS INC 0.2%

Value $2.122M Shares 34,110 Share Price $62.22 Est. Cost/Share $49.09 Unrealized @ Report Date —

TAP MOLSON COORS BEVERAGE CO 0.3%

Value $2.922M Shares 75,007 Share Price $38.96 Est. Cost/Share $47.65 Unrealized @ Report Date —

EME EMCOR GROUP INC 0.3%

Value $2.99M Shares 3,603 Share Price $829.88 Est. Cost/Share $410.54 Unrealized @ Report Date —

RRX REGAL REXNORD CORPORATION 0.1%

Value $1.457M Shares 6,117 Share Price $238.19 Est. Cost/Share $147.16 Unrealized @ Report Date —

UNH UNITEDHEALTH GROUP INC 0.1%

Value $883K Shares 2,124 Share Price $415.63 Est. Cost/Share $273.03 Unrealized @ Report Date —

UNM UNUM GROUP 0.2%

Value $1.625M Shares 18,176 Share Price $89.40 Est. Cost/Share $48.67 Unrealized @ Report Date —

WAL WESTERN ALLIANCE BANCORP 0.2%

Value $2.145M Shares 26,098 Share Price $82.20 Est. Cost/Share $75.73 Unrealized @ Report Date —

VIG VANGUARD SPECIALIZED FUNDS 0.3%

Value $2.759M Shares 11,658 Share Price $236.62 Est. Cost/Share $127.04 Unrealized @ Report Date —

GLUE MONTE ROSA THERAPEUTICS INC 0.1%

Value $760K Shares 31,396 Share Price $24.20 Est. Cost/Share $13.48 Unrealized @ Report Date —

BAC BANK OF AMER CORP 0.2%

Value $1.633M Shares 28,666 Share Price $56.98 Est. Cost/Share $30.91 Unrealized @ Report Date —

CVX CHEVRON CORPORATION 0.1%

Value $921K Shares 5,556 Share Price $165.76 Est. Cost/Share $101.05 Unrealized @ Report Date —

SR SPIRE INC 0.1%

Value $1.489M Shares 19,063 Share Price $78.09 Est. Cost/Share $85.01 Unrealized @ Report Date —

AX AXOS FINANCIAL INC 0.2%

Value $1.657M Shares 17,011 Share Price $97.39 Est. Cost/Share $69.83 Unrealized @ Report Date —

G GENPACT LIMITED 0.1%

Value $595K Shares 21,629 Share Price $27.50 Est. Cost/Share $43.75 Unrealized @ Report Date —

JPM JPMORGAN CHASE & CO 0.2%

Value $1.711M Shares 5,227 Share Price $327.33 Est. Cost/Share $89.86 Unrealized @ Report Date —

UNP UNION PAC CORP 0.2%

Value $1.566M Shares 5,757 Share Price $272.00 Est. Cost/Share $119.34 Unrealized @ Report Date —

PATK PATRICK INDS INC 0.1%

Value $736K Shares 8,195 Share Price $89.78 Est. Cost/Share $62.19 Unrealized @ Report Date —

ACIW ACI WORLDWIDE INC 0.1%

Value $792K Shares 15,742 Share Price $50.29 Est. Cost/Share $45.67 Unrealized @ Report Date —

MCD MCDONALDS CORP 0.1%

Value $975K Shares 3,608 Share Price $270.31 Est. Cost/Share $231.93 Unrealized @ Report Date —

AXP AMERICAN EXPRESS CO 0.1%

Value $1.349M Shares 3,987 Share Price $338.25 Est. Cost/Share $80.07 Unrealized @ Report Date —

IVZ INVESCO LTD 0.1%

Value $1.34M Shares 50,775 Share Price $26.39 Est. Cost/Share $24.72 Unrealized @ Report Date —

ATOM ATOMERA INC 0.0%

Value $174K Shares 20,000 Share Price $8.71 Est. Cost/Share $29.25 Unrealized @ Report Date —

SUPN SUPERNUS PHARMACEUTICALS 0.1%

Value $920K Shares 19,782 Share Price $46.51 Est. Cost/Share $31.88 Unrealized @ Report Date —

AMGN AMGEN INC 0.3%

Value $3.187M Shares 8,800 Share Price $362.12 Est. Cost/Share $286.59 Unrealized @ Report Date —

EHC ENCOMPASS HEALTH CORP 0.2%

Value $1.541M Shares 15,247 Share Price $101.08 Est. Cost/Share $69.65 Unrealized @ Report Date —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.2%

Value $1.53M Shares 3,058 Share Price $500.39 Est. Cost/Share $208.41 Unrealized @ Report Date —

TJX TJX COS INC NEW 0.1%

Value $1.409M Shares 9,301 Share Price $151.50 Est. Cost/Share $47.27 Unrealized @ Report Date —

BYD BOYD GAMING CORP 0.1%

Value $824K Shares 9,325 Share Price $88.33 Est. Cost/Share $65.82 Unrealized @ Report Date —

ALSN ALLISON TRANSMISSION HLDGS I 0.1%

Value $1.502M Shares 13,326 Share Price $112.74 Est. Cost/Share $58.23 Unrealized @ Report Date —

ARES ARES MANAGEMENT CORPORATION 0.2%

Value $1.764M Shares 15,846 Share Price $111.31 Est. Cost/Share $90.04 Unrealized @ Report Date —

FUL FULLER H B CO 0.1%

Value $685K Shares 11,760 Share Price $58.29 Est. Cost/Share $72.70 Unrealized @ Report Date —

TOST TOAST INC 0.1%

Value $611K Shares 21,952 Share Price $27.82 Est. Cost/Share $35.80 Unrealized @ Report Date —

BEAT HEARTBEAM INC 0.0%

Value $37,500 Shares 50,000 Share Price $0.75 Est. Cost/Share $2.31 Unrealized @ Report Date —

JXN JACKSON FINANCIAL INC 0.1%

Value $993K Shares 9,700 Share Price $102.39 Est. Cost/Share $114.95 Unrealized @ Report Date —

AMPH AMPHASTAR PHARMACEUTICALS IN 0.1%

Value $511K Shares 25,337 Share Price $20.18 Est. Cost/Share $30.76 Unrealized @ Report Date —

SDY SPDR SERIES TRUST 0.0%

Value $329K Shares 2,164 Share Price $152.18 Est. Cost/Share $140.48 Unrealized @ Report Date —

BX BLACKSTONE INC 0.1%

Value $549K Shares 4,667 Share Price $117.67 Est. Cost/Share $47.00 Unrealized @ Report Date —

NRG NRG ENERGY INC 0.2%

Value $1.75M Shares 11,983 Share Price $146.06 Est. Cost/Share $59.75 Unrealized @ Report Date —

VCIT VANGUARD SCOTTSDALE FDS 0.4%

Value $4.229M Shares 51,166 Share Price $82.65 Est. Cost/Share $88.67 Unrealized @ Report Date —

MBB ISHARES TR 0.2%

Value $1.656M Shares 17,518 Share Price $94.52 Est. Cost/Share $110.40 Unrealized @ Report Date —

IGIB ISHARES TR 0.3%

Value $3.071M Shares 57,761 Share Price $53.17 Est. Cost/Share $56.08 Unrealized @ Report Date —

BND VANGUARD BD INDEX FDS 0.1%

Value $782K Shares 10,655 Share Price $73.41 Est. Cost/Share $73.64 Unrealized @ Report Date —

SHV ISHARES TR 0.4%

Value $4.096M Shares 37,117 Share Price $110.35 Est. Cost/Share $110.22 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
LEGH	LEGACY HOUSING CORP	920,286	$24.18M	2.4%	$26.27	$23.68	—	COM	52472M101
DJCO	DAILY JOURNAL CORP	41,510	$24.96M	2.5%	$601.19	$432.66	—	COM	233912104
LRCX	LAM RESEARCH CORP	19,824	$8.59M	0.9%	$433.33	$78.34	—	COM NEW	512807306
NTAP	NETAPP INC	20,588	$3.186M	0.3%	$154.76	$87.07	—	COM	64110D104
STLD	STEEL DYNAMICS INC	20,934	$4.804M	0.5%	$229.46	$90.85	—	COM	858119100
NVT	NVENT ELEC PLC	12,168	$2.064M	0.2%	$169.61	$50.99	—	SHS	G6700G107
SNX	TD SYNNEX CORPORATION	5,978	$1.598M	0.2%	$267.34	$153.18	—	COM	87162W100
LMT	LOCKHEED MARTIN CORP	5,343	$2.722M	0.3%	$509.46	$420.65	—	COM	539830109
RAL	RALLIANT CORP	15,969	$1.176M	0.1%	$73.63	$46.94	—	COM	750940108
DAC	DANAOS CORPORATION	47,412	$5.802M	0.6%	$122.37	$77.57	—	SHS	Y1968P121
SGHC	SUPER GROUP SGHC LIMITED	142,348	$1.929M	0.2%	$13.55	$10.37	—	ORD SHS	G8588X103
AAPL	APPLE INC	10,795	$3.124M	0.3%	$289.36	$212.67	—	COM	037833100
VOO	VANGUARD INDEX FDS	3,942	$2.707M	0.3%	$686.81	$313.70	—	S&P 500 ETF SHS	922908363
XBI	SPDR SERIES TRUST	11,071	$1.752M	0.2%	$158.25	$84.13	—	ST STR SP BIOT	78464A870
RSP	INVESCO EXCHANGE TRADED FD T	16,408	$3.491M	0.3%	$212.76	$145.74	—	S&P500 EQL WGT	46137V357
AAP	ADVANCE AUTO PARTS INC	34,110	$2.122M	0.2%	$62.22	$49.09	—	COM	00751Y106
TAP	MOLSON COORS BEVERAGE CO	75,007	$2.922M	0.3%	$38.96	$47.65	—	CL B	60871R209
EME	EMCOR GROUP INC	3,603	$2.99M	0.3%	$829.88	$410.54	—	COM	29084Q100
RRX	REGAL REXNORD CORPORATION	6,117	$1.457M	0.1%	$238.19	$147.16	—	COM	758750103
UNH	UNITEDHEALTH GROUP INC	2,124	$883K	0.1%	$415.63	$273.03	—	COM	91324P102
UNM	UNUM GROUP	18,176	$1.625M	0.2%	$89.40	$48.67	—	COM	91529Y106
WAL	WESTERN ALLIANCE BANCORP	26,098	$2.145M	0.2%	$82.20	$75.73	—	COM	957638109
VIG	VANGUARD SPECIALIZED FUNDS	11,658	$2.759M	0.3%	$236.62	$127.04	—	DIV APP ETF	921908844
GLUE	MONTE ROSA THERAPEUTICS INC	31,396	$760K	0.1%	$24.20	$13.48	—	COM	61225M102
BAC	BANK OF AMER CORP	28,666	$1.633M	0.2%	$56.98	$30.91	—	COM	060505104
CVX	CHEVRON CORPORATION	5,556	$921K	0.1%	$165.76	$101.05	—	COM	166764100
SR	SPIRE INC	19,063	$1.489M	0.1%	$78.09	$85.01	—	COM	84857L101
AX	AXOS FINANCIAL INC	17,011	$1.657M	0.2%	$97.39	$69.83	—	COM	05465C100
G	GENPACT LIMITED	21,629	$595K	0.1%	$27.50	$43.75	—	SHS	G3922B107
JPM	JPMORGAN CHASE & CO	5,227	$1.711M	0.2%	$327.33	$89.86	—	COM	46625H100
UNP	UNION PAC CORP	5,757	$1.566M	0.2%	$272.00	$119.34	—	COM	907818108
PATK	PATRICK INDS INC	8,195	$736K	0.1%	$89.78	$62.19	—	COM	703343103
ACIW	ACI WORLDWIDE INC	15,742	$792K	0.1%	$50.29	$45.67	—	COM	004498101
MCD	MCDONALDS CORP	3,608	$975K	0.1%	$270.31	$231.93	—	COM	580135101
AXP	AMERICAN EXPRESS CO	3,987	$1.349M	0.1%	$338.25	$80.07	—	COM	025816109
IVZ	INVESCO LTD	50,775	$1.34M	0.1%	$26.39	$24.72	—	SHS	G491BT108
ATOM	ATOMERA INC	20,000	$174K	0.0%	$8.71	$29.25	—	COM	04965B100
SUPN	SUPERNUS PHARMACEUTICALS	19,782	$920K	0.1%	$46.51	$31.88	—	COM	868459108
AMGN	AMGEN INC	8,800	$3.187M	0.3%	$362.12	$286.59	—	COM	031162100
EHC	ENCOMPASS HEALTH CORP	15,247	$1.541M	0.2%	$101.08	$69.65	—	COM	29261A100
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,058	$1.53M	0.2%	$500.39	$208.41	—	CL B NEW	084670702
TJX	TJX COS INC NEW	9,301	$1.409M	0.1%	$151.50	$47.27	—	COM	872540109
BYD	BOYD GAMING CORP	9,325	$824K	0.1%	$88.33	$65.82	—	COM	103304101
ALSN	ALLISON TRANSMISSION HLDGS I	13,326	$1.502M	0.1%	$112.74	$58.23	—	COM	01973R101
ARES	ARES MANAGEMENT CORPORATION	15,846	$1.764M	0.2%	$111.31	$90.04	—	CL A COM STK	03990B101
FUL	FULLER H B CO	11,760	$685K	0.1%	$58.29	$72.70	—	COM	359694106
TOST	TOAST INC	21,952	$611K	0.1%	$27.82	$35.80	—	CL A	888787108
BEAT	HEARTBEAM INC	50,000	$37,500	0.0%	$0.75	$2.31	—	COM	42238H108
JXN	JACKSON FINANCIAL INC	9,700	$993K	0.1%	$102.39	$114.95	—	COM CL A	46817M107
AMPH	AMPHASTAR PHARMACEUTICALS IN	25,337	$511K	0.1%	$20.18	$30.76	—	COM	03209R103
SDY	SPDR SERIES TRUST	2,164	$329K	0.0%	$152.18	$140.48	—	ST STR SP DIV	78464A763
BX	BLACKSTONE INC	4,667	$549K	0.1%	$117.67	$47.00	—	COM	09260D107
NRG	NRG ENERGY INC	11,983	$1.75M	0.2%	$146.06	$59.75	—	COM NEW	629377508
VCIT	VANGUARD SCOTTSDALE FDS	51,166	$4.229M	0.4%	$82.65	$88.67	—	INT-TERM CORP	92206C870
MBB	ISHARES TR	17,518	$1.656M	0.2%	$94.52	$110.40	—	MBS ETF	464288588
IGIB	ISHARES TR	57,761	$3.071M	0.3%	$53.17	$56.08	—	ISHS 5-10YR INVT	464288638
BND	VANGUARD BD INDEX FDS	10,655	$782K	0.1%	$73.41	$73.64	—	TOTAL BND MRKT	921937835
SHV	ISHARES TR	37,117	$4.096M	0.4%	$110.35	$110.22	—	TRUST ISHARE 0-1	464288679