SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Hennessy Advisors, Inc.
Filing Type: Form 13F Holdings Report
Reporting Period: Quarter ended September 30, 2011
Submission Date: October 31, 2011
Signatory: Teresa M. Nilsen, Executive Vice President and Chief Financial Officer
This filing discloses the equity securities held by the institutional investment manager at the end of the reporting period. The report covers 210 distinct holdings with sole voting authority.
Key Financial Metrics
Total Portfolio Value: $520,492,000 (reported in thousands)
Total Number of Holdings: 210
Other Included Managers: 0
Note: As a Form 13F filing, this document reports holdings of equity securities. It does not contain data on revenue, profit, cash flow, operating margins, debt, or liquidity for Hennessy Advisors, Inc. itself, nor does it detail the performance of the underlying portfolio companies.
Material Changes and Portfolio Composition
The filing provides a snapshot of holdings as of September 30, 2011. It does not provide comparative data against the prior quarter (June 30, 2011) to determine material changes in position size or new entries versus exits within this specific text.
Top Holdings by Value (Selected):
- US Airways Group Inc: $4,688,000 (852,300 shares)
- Quiksilver Inc: $2,119,000 (694,700 shares)
- Tuesday Morning Corp: $2,250,000 (639,300 shares)
- Newcastle Investment Corp: $2,426,000 (596,100 shares)
- Meritor Inc: $2,352,000 (333,100 shares)
- Pier 1 Imports Inc: $3,274,000 (334,800 shares)
- Western Refining Inc: $4,471,000 (358,800 shares)
- United Continental Holdings Inc: $6,835,000 (352,700 shares)
- Verizon Communications: $7,783,000 (211,500 shares)
- AT&T Inc: $6,908,000 (242,200 shares)
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide management commentary, forward-looking guidance, or strategic outlook for the portfolio or the firm.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this form. The filing is a statutory disclosure of holdings and does not include narrative risk analysis.
Unusual Items: The portfolio contains a mix of large-cap and mid-cap equities across various sectors including telecommunications, retail, energy, and industrials. No unusual items or restatements are indicated in the cover page.
Investor Verification Checklist
- Verify the total portfolio value of $520.5 million against the firm's total assets under management (AUM) to determine if this represents the entire book or a specific fund.
- Compare the 210 holdings listed here against the prior quarter's 13F filing to identify specific buys, sells, and net changes.
- Review the concentration risk, noting that the top 10 holdings represent a significant portion of the reported value.
- Confirm the "Sole" voting authority status for all listed positions, indicating no shared control with other managers for these specific securities.
- Check for any subsequent amendments to this filing that may have updated the holdings data.