Investment adviser · CRD 108254

ADVISORY RESEARCH INC

Investment adviser filing (IA)

CHICAGO, IL, United States · Form ADV filed Mar 20, 2026

Regulatory AUM: $991M
Client accounts: 444
Employees: 14
Advisory professionals: 8

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
High-net-worth individuals	130	$272,091,545	27.4%
Pooled investment vehicles	3	$261,422,536	26.4%
Corporations & businesses	18	$203,429,649	20.5%
Charities	14	$127,614,242	12.9%
Individuals	275	$100,804,119	10.2%
Investment companies	1	$24,211,825	2.4%
Retirement plans	3	$1,702,307	0.2%

Filing source

Form ADV 2070459 · Mar 20, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

22 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

ADVISORY RESEARCH PARTNERS FUND, L.P.Hedge Fund · Last reported Mar 20, 2026$214MGross asset value

Form D fundraising filings

Advisory Research Partners Fund, L.P.

Fund administrator ULTIMUS LEVERPOINT PRIVATE FUND SOLUTIONS CINCINNATI, Ohio, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor TOPEL FORMAN, L.L.C. CHICAGO, Illinois, United States

Custodian JEFFERIES LLC NEW YORK, New York, United States Related to adviser: No

Marketer STIFEL, NICOLAUS & COMPANY, INCORPORATED ST. LOUIS, Missouri, United States Related to adviser: No

Prime broker JEFFERIES LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

TOPEL FORMAN, L.L.C.
PCAOB 5181

JEFFERIES LLC
SEC 8-15074

STIFEL, NICOLAUS & COMPANY, INCORPORATED
CRD 793 · SEC 801-10746

JEFFERIES LLC
CRD 2347 · SEC 8-15074

Fund details & source

Fund ID: 805-8525945840
Reported beneficial owners: 168
Minimum commitment: $1M
Form D file number: 021-303737

Form ADV 2070459 · Mar 20, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ARI FOUNDERS FUND, LPHedge Fund · Last reported Mar 20, 2026$7.83KGross asset value

Form D fundraising filings

ARI Founders Fund, LP

Fund administrator ULTIMUS LEVERPOINT PRIVATE FUND SOLUTIONS CINCINNATI, Ohio, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor TOPEL FORMAN, L.L.C. CHICAGO, Illinois, United States

Custodian PERSHING ADVISOR SOLUTIONS LLC JERSEY CITY, New Jersey, United States Related to adviser: No

Prime broker PERSHING ADVISOR SOLUTIONS LLC JERSEY CITY, New Jersey, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

TOPEL FORMAN, L.L.C.
PCAOB 5181

PERSHING ADVISOR SOLUTIONS LLC
SEC 8-47425

PERSHING ADVISOR SOLUTIONS LLC
CRD 36671 · SEC 8-47425

Fund details & source

Fund ID: 805-1370308976
Reported beneficial owners: 16
Minimum commitment: $200K
Form D file number: 021-404790

Form ADV 2070459 · Mar 20, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ARI 1740 FUND, L.P.Hedge Fund · Last reported Dec 18, 2023$237MGross asset value

Fund administrator ULTIMUS FUND SOLUTIONS LLC CHICAGO, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor TOPEL FORMAN, L.L.C. CHICAGO, Illinois, United States

Custodian BNY MELLON SECURITIES CORPORATION NEW YORK, New York, United States Related to adviser: No

Prime broker BNY MELLON SECURITIES CORPORATION NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

TOPEL FORMAN, L.L.C.
PCAOB 5181

BNY MELLON SECURITIES CORPORATION
SEC 8-13801

BNY MELLON SECURITIES CORPORATION
CRD 231 · SEC 8-13801

Fund details & source

Fund ID: 805-8700179751
Reported beneficial owners: 2
Minimum commitment: $0
Form D file number: 021-247547

Form ADV 1797111 · Dec 18, 2023 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ADVISORY RESEARCH VALUE INCOME FUND, L.P.Hedge Fund · Last reported Sep 4, 2012$89.1MGross asset value

Form D fundraising filings

Advisory Research Value Income Fund L P

Fund administrator WOODFIELD FUND ADMINISTRATION SCHAUMBURG, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BLACKMAN KALLICK LLC CHICAGO, Illinois, United States

Custodian CITICORP NEW YORK, New York, United States Related to adviser: No

Custodian PERSHING ADVISOR SOLUTIONS LLC JERSEY CITY, New Jersey, United States Related to adviser: No

Prime broker PERSHING ADVISOR SOLUTIONS LLC JERSEY CITY, New Jersey, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

PERSHING ADVISOR SOLUTIONS LLC
SEC 8-47425

PERSHING ADVISOR SOLUTIONS LLC
CRD 36671 · SEC 8-47425

Fund details & source

Fund ID: 805-3510340427
Reported beneficial owners: 70
Minimum commitment: $500K
Form D file number: 021-66036

Form ADV 666283 · Sep 4, 2012 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ADVISORY RESEARCH ENERGY FUND, L.P.Hedge Fund · Last reported Dec 18, 2023$61.6MGross asset value

Fund administrator ULTIMUS FUND SOLUTIONS, LLC CHICAGO, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor TOPEL FORMAN, L.L.C. CHICAGO, Illinois, United States

Custodian JEFFERIES LLC NEW YORK, New York, United States Related to adviser: No

Custodian PERSHING LLC JERSEY CITY, New Jersey, United States Related to adviser: No

Prime broker JEFFERIES LLC NEW YORK, New York, United States

Prime broker PERSHING LLC JERSEY CITY, New Jersey, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

TOPEL FORMAN, L.L.C.
PCAOB 5181

JEFFERIES LLC
SEC 8-15074

PERSHING LLC
SEC 8-17574

JEFFERIES LLC
CRD 2347 · SEC 8-15074

PERSHING LLC
CRD 7560 · SEC 8-17574

Fund details & source

Fund ID: 805-3615020336
Reported beneficial owners: 9
Minimum commitment: $500K
Form D file number: 021-75399

Form ADV 1797111 · Dec 18, 2023 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ADVISORY OPPORTUNITIES FUND L.P.Hedge Fund · Last reported May 1, 2017$14.1MGross asset value

Form D fundraising filings

Advisory Research Opportunities Fund, L.P.

Fund administrator WOODFIELD FUND ADMINISTRATION SCHAUMBURG, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG CHICAGO, Illinois, United States

Custodian GOLDMAN, SACHS & CO. NEW YORK, New York, United States Related to adviser: No

Prime broker GOLDMAN, SACHS & CO. NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

GOLDMAN, SACHS & CO.
SEC 8-129

GOLDMAN, SACHS & CO.
CRD 361 · SEC 8-129

Fund details & source

Fund ID: 805-2356550425
Reported beneficial owners: 40
Minimum commitment: $1M
Form D file number: 021-178213

Form ADV 1112523 · May 1, 2017 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ADVISORY RESEARCH VALUE INCOME FUND II, L.P.Hedge Fund · Last reported Sep 4, 2012$12.6MGross asset value

Form D fundraising filings

Advisory Research Value Income Fund II L P

Fund administrator WOODFIELD FUND ADMINISTRATION SCHAUMBURG, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BLACKMAN KALLICK LLC CHICAGO, Illinois, United States

Custodian CITICORP NEW YORK, New York, United States Related to adviser: No

Custodian PERSHING ADVISOR SOLUTIONS LLC JERSEY CITY, New Jersey, United States Related to adviser: No

Prime broker PERSHING ADVISOR SOLUTIONS LLC JERSEY CITY, New Jersey, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

PERSHING ADVISOR SOLUTIONS LLC
SEC 8-47425

PERSHING ADVISOR SOLUTIONS LLC
CRD 36671 · SEC 8-47425

Fund details & source

Fund ID: 805-2239498831
Reported beneficial owners: 17
Minimum commitment: $500K
Form D file number: 021-66035

Form ADV 666283 · Sep 4, 2012 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Mar 20, 2026. View historical filings

Reported services

Individual portfolio management · Investment company portfolio management · Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

180 N STETSON AVENUE, SUITE 5500
CHICAGO, IL, 60601, United States

CRD 108254

Filing source

Form ADV 2070459 · Mar 20, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.