SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Hennessy Advisors Inc.
Filing Type: Form 13F Information Table (Schedule of Holdings)
Reporting Period: Quarter ended June 30, 2020
Context: This filing discloses the equity securities held by Hennessy Advisors Inc. as of the end of the second quarter of 2020. The filing lists individual positions, share counts, and market values for a diversified portfolio of common stocks.
Key Financial Metrics
Portfolio Composition: The filing lists approximately 200 individual equity positions. The portfolio is heavily weighted toward utility, energy, and financial sectors, with significant holdings in companies such as Kinder Morgan Inc., Enbridge Inc., and Dominion Energy Inc.
Valuation: The "Value" column represents the aggregate market value of each position in thousands of dollars (x$1,000). The filing does not provide a consolidated total portfolio value, total assets under management, or aggregate cash flow figures.
Ownership Structure: For all listed positions, the "Voting Authority" is designated as "Sole," indicating Hennessy Advisors Inc. has sole discretion over voting rights for these shares. No "Shared" or "None" voting authority is reported for the listed securities.
Derivatives: The "Put/Call" column is blank for all entries, indicating no reported holdings of put or call options in this specific table.
Material Changes and Portfolio Activity
Comparison to Prior Period: This document is a snapshot of holdings as of June 30, 2020. It does not contain a comparative table showing changes in share counts or values versus the prior quarter (March 31, 2020). Therefore, material increases or decreases in specific positions cannot be determined from this text alone.
Notable Holdings: Significant positions by value include:
- Kinder Morgan Inc. (Value: $29,720,000; Shares: 1,959,101)
- Enbridge Inc. (Value: $29,957,000; Shares: 984,765)
- TC Energy Corp (Value: $29,777,000; Shares: 694,753)
- Dominion Energy Inc. (Value: $29,880,000; Shares: 368,077)
- National Grid PLC (Value: $32,839,000; Shares: 540,644)
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings are regulatory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. No specific risk factors or contingencies related to the company's operations are disclosed in this document.
Unusual Items: The portfolio includes a mix of large-cap industrial and utility stocks. There are no reported unusual items, such as distressed debt or special warrants, within the provided text.
Investor Verification Checklist
- Total Portfolio Value: Verify the aggregate market value of the portfolio by summing the "Value" column, as the filing does not provide a total.
- Turnover Rate: Compare this filing with the Q1 2020 Form 13F to calculate the turnover rate and identify specific buys or sells.
- Concentration Risk: Assess the percentage of the total portfolio held in the top 10 positions (e.g., Utilities and Energy) to evaluate sector concentration.
- Derivative Exposure: Confirm if any derivative positions (puts/calls) were held but not listed in this specific table, as 13F requires reporting of certain derivatives.
- Valuation Accuracy: Cross-reference the reported share counts and values with market prices as of June 30, 2020, to ensure the reported values align with historical closing prices.