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 December 31, 2006
Filing Date: January 31, 2007
Location: Novato, CA
This filing discloses the equity securities held by Hennessy Advisors, Inc. as of the end of the reporting period. The report covers 179 distinct holdings entries.
Key Financial Metrics
Total Portfolio Value: $1,997,283,000 (Reported in thousands as $1,997,283)
Number of Holdings: 179
Investment Discretion: Sole discretion for the vast majority of positions; some shared or defined discretion noted for specific issuers.
Voting Authority: Primarily sole voting authority, with shared or none noted for specific positions.
Note: As a Form 13F filing, this document reports holdings of equity securities. It does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics for Hennessy Advisors, Inc. itself.
Material Changes and Portfolio Composition
Top Holdings by Value (Selected):
- Hennessy Advisors Inc: $43,234,000 (1,879,721 shares)
- General Cable Corp/De: $45,253,000 (1,035,300 shares)
- Manitowoc Co: $44,876,000 (755,100 shares)
- Holly Corp: $40,699,000 (791,800 shares)
- Emcor Group Inc: $40,597,000 (714,100 shares)
- Frontier Oil Corp: $34,643,000 (1,205,400 shares)
- Marathon Oil Corp: $33,809,000 (365,500 shares)
- Quanta Services Inc: $33,781,000 (1,717,400 shares)
- Payless Shoesource Inc: $31,474,000 (959,000 shares)
- Banco Itau Hldg Finciera -ADR: $30,008,000 (830,100 shares)
Material Changes: The filing text does not provide comparative data for the prior quarter (September 30, 2006). Therefore, specific material changes in holdings or values versus the prior period cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical disclosures of holdings and do not contain forward-looking guidance, management commentary, or outlook statements.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this filing format. The filing represents a snapshot of long-only equity positions (with some options/derivatives implied by "Put/Call" columns, though primarily "SH" for shares).
Investor Verification Checklist
- Verify the total portfolio value of approximately $2.0 billion against the firm's latest 10-K or 10-Q for context on assets under management.
- Confirm the concentration risk, noting that the top 10 holdings represent a significant portion of the reported value.
- Review the "Voting Authority" columns for positions where Hennessy Advisors does not hold sole voting rights (e.g., ChevronTexaco, P.G. & E., The Charles Schwab Corp).
- Check subsequent filings (Q1 2007) to determine if these positions were maintained, increased, or liquidated.
- Validate the specific share counts for large positions like Six Flags Inc (2.2M shares) and On Semiconductor Corp (3.2M shares) to assess potential influence on corporate governance.