Houlihan Lokey, Inc.
US ˙ NYSE ˙ US4415931009

SecurityHLI / Houlihan Lokey, Inc.
InstitutionEarnest Partners Llc
Latest Disclosed Ownership2,648,908 shares
Ownership 4.90%
Earnest Partners Llc ownership in HLI / Houlihan Lokey, Inc.

2025-05-15 - Earnest Partners Llc has filed an SCHEDULE 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 2,648,908 shares of Houlihan Lokey, Inc. (US:HLI). This represents 4.9 percent ownership of the company. In their previous filing dated 2024-02-12 , Earnest Partners Llc had reported owning 3,230,161 shares, indicating a decrease of -17.99 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2025-05-15 2025-05-15 13G/A 3,230,161 2,648,908 -17.99 4.90 -20.97
2024-02-12 2024-02-12 13G/A 3,654,922 3,230,161 -11.62 6.20 -15.07
2023-02-14 2023-02-14 13G/A 3,573,806 3,654,922 2.27 7.30 4.29
2022-02-08 2022-02-08 13G 3,573,806 7.00

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F HOULIHAN LOKEY CL A 441593100 2,228,984 -62,527 -2.73 320,127 -19.80 1.3199
2026-02-12 2025-12-31 13F HOULIHAN LOKEY CL A 441593100 2,291,511 -129,622 -5.35 399,158 -19.70 1.7105
2025-11-14 2025-09-30 13F HOULIHAN LOKEY CL A 441593100 2,421,133 -51,336 -2.08 497,107 11.73 2.1565
2025-08-15 2025-06-30 13F HOULIHAN LOKEY CL A 441593100 2,472,469 -176,439 -6.66 444,921 4.00 2.0056
2025-05-14 2025-03-31 13F HOULIHAN LOKEY CL A 441593100 2,648,908 -318,651 -10.74 427,799 -16.99 2.0484
2025-02-14 2024-12-31 13F HOULIHAN LOKEY CL A 441593100 2,967,559 -263,680 -8.16 515,346 0.93 2.3032
2024-11-14 2024-09-30 13F HOULIHAN LOKEY CL A 441593100 3,231,239 -42,579 -1.30 510,600 15.65 2.2232
2024-08-14 2024-06-30 13F HOULIHAN LOKEY CL A 441593100 3,273,818 62,314 1.94 441,507 7.24 2.0641
2024-05-15 2024-03-31 13F HOULIHAN LOKEY CL A 441593100 3,211,504 -18,657 -0.58 411,683 6.29 1.8848
2024-02-14 2023-12-31 13F HOULIHAN LOKEY CL A 441593100 3,230,161 106,910 3.42 387,329 15.77 1.9340
2023-11-14 2023-09-30 13F HOULIHAN LOKEY CL A 441593100 3,123,251 34,580 1.12 334,563 10.18 1.9296
2023-08-07 2023-06-30 13F HOULIHAN LOKEY I COM 441593100 3,088,671 -606,834 -16.42 303,647 -6.08 1.6972
2023-05-15 2023-03-31 13F HOULIHAN LOKEY I COM 441593100 3,695,505 40,583 1.11 323,320 1.49 1.8699
2023-02-14 2022-12-31 13F HOULIHAN LOKEY I COM 441593100 3,654,922 -31,501 -0.85 318,563 14.64 1.9525
2022-11-14 2022-09-30 13F HOULIHAN LOKEY I COM 441593100 3,686,423 26,657 0.73 277,883 -3.80 1.8665
2022-08-12 2022-06-30 13F HOULIHAN LOKEY I COM 441593100 3,659,766 140,068 3.98 288,865 -6.52 1.9241
2022-05-16 2022-03-31 13F HOULIHAN LOKEY I COM 441593100 3,519,698 -54,108 -1.51 309,029 -16.47 1.8303
2022-02-07 2021-12-31 13F HOULIHAN LOKEY I COM 441593100 3,573,806 -98,216 -2.67 369,960 9.39 2.1340
2021-11-15 2021-09-30 13F HOULIHAN LOKEY I COM 441593100 3,672,022 -30,080 -0.81 338,193 11.69 2.0670
2021-08-16 2021-06-30 13F HOULIHAN LOKEY I COM 441593100 3,702,102 43,928 1.20 302,795 24.45 1.7791
2021-05-17 2021-03-31 13F HOULIHAN LOKEY I COM 441593100 3,658,174 1,144,655 45.54 243,305 43.98 1.4534
2021-02-16 2020-12-31 13F HOULIHAN LOKEY I COM 441593100 2,513,519 72,622 2.98 168,984 17.24 1.1674
2020-11-16 2020-09-30 13F HOULIHAN LOKEY I COM 441593100 2,440,897 90,487 3.85 144,135 10.21 1.2434
2020-08-13 2020-06-30 13F HOULIHAN LOKEY I COM 441593100 2,350,410 38,390 1.66 130,777 8.53 1.2356
2020-05-14 2020-03-31 13F HOULIHAN LOKEY I COM 441593100 2,312,020 293,215 14.52 120,502 22.14 1.3578
2020-02-07 2019-12-31 13F HOULIHAN LOKEY I COM 441593100 2,018,805 431,759 27.21 98,659 37.84 0.7754
2019-11-14 2019-09-30 13F HOULIHAN LOKEY I COM 441593100 1,587,046 -2,069 -0.13 71,576 1.15 0.6467
2019-08-13 2019-06-30 13F HOULIHAN LOKEY I COM 441593100 1,589,115 1,097,619 223.32 70,763 214.01 0.6394
2019-05-15 2019-03-31 13F HOULIHAN LOKEY I COM 441593100 491,496 15,326 3.22 22,535 28.60 0.2153
2019-02-14 2018-12-31 13F HOULIHAN LOKEY I COM 441593100 476,170 -15,633 -3.18 17,523 -20.70 0.1908
2018-11-14 2018-09-30 13F HOULIHAN LOKEY I COM 441593100 491,803 39,194 8.66 22,097 -4.68 0.1980
2018-08-13 2018-06-30 13F HOULIHAN LOKEY I COM 441593100 452,609 452,609 23,183 0.2169
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.