SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Hennessy Advisors Inc.
Filing Type: Form 13F Information Table
Reporting Period: December 31, 2016
Context: This filing discloses the equity securities held by the investment manager at the end of the fourth quarter of 2016. It details the number of shares, value, and voting authority for each position.
Key Financial Metrics
Revenue, Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide a clear value for these metrics. Form 13F filings report portfolio holdings, not the financial performance of the investment manager itself.
Portfolio Composition: The portfolio consists of long-only equity positions (Common Stock). No put or call options are reported. Voting authority is listed as "Sole" for all disclosed positions.
| Top Holdings by Value (Sample) | Shares Held | Value ($000s) |
|---|---|---|
| Cheniere Energy Inc | 1,707,617 | 70,747 |
| Dominion Res Inc VA | 936,446 | 71,722 |
| Spectra Energy Corp | 1,718,555 | 70,615 |
| Sempra Energy | 700,340 | 70,482 |
| TransCanada Corp | 1,556,553 | 70,278 |
Material Changes
The filing text does not provide a clear value for material changes versus the prior comparable period. Form 13F tables list current holdings but do not explicitly state the net change in shares or value from the previous quarter within the data rows provided.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide a clear value for management commentary, guidance, or future outlook. This is a regulatory disclosure of holdings, not an earnings release or prospectus.
Risks and Contingencies: No specific risks or contingencies are detailed in the text. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Unusual Items: The portfolio shows significant concentration in the Utilities and Energy sectors (e.g., Cheniere Energy, Spectra Energy, Dominion Resources, TransCanada). There are no reported derivative positions (puts/calls).
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column, as the filing does not provide a total summary figure.
- Confirm the specific sector allocation, noting the heavy weighting in regulated utilities and energy infrastructure.
- Check subsequent filings (Q1 2017) to determine if these large positions were maintained or liquidated.
- Review the "Voting Authority" column to confirm the manager retains sole discretion over all reported shares.
- Validate that no "Shared" or "None" voting authority positions exist, as all listed are "Sole."