SEC Filing Summary: Hennessy Advisors Inc (13F-HR)
Business Context and Reporting Period
This Form 13F-HR is a quarterly holdings report filed by Hennessy Advisors, Inc., an institutional investment manager. The report covers the period ended September 30, 2007, and was signed on October 25, 2007, by Teresa M. Nilsen, Executive Vice President and Chief Financial Officer. The filing represents a complete report of all holdings managed by the firm for this period.
Key Financial Metrics
As a Form 13F filing, this document discloses equity holdings rather than the operating financial performance (revenue, profit, cash flow) of Hennessy Advisors itself. The following metrics reflect the portfolio under management:
- Total Portfolio Value: $1,669,003,000 (Reported as $1,669,003 in thousands).
- Total Number of Holdings: 175 distinct securities.
- Investment Discretion: The firm holds "Sole" discretion for the vast majority of positions, with some shared discretion noted in specific entries.
- Top Holdings by Value:
- WellCare Health Plans Inc: $41,276,000
- CF Industries Holdings Inc: $48,408,000
- Ak Steel Holding Corp: $43,915,000
- Big Lots Inc: $31,248,000
- General Cable Corp: $30,479,000
Note: Revenue, profit margins, debt levels, and liquidity ratios for Hennessy Advisors are not disclosed in this filing type.
Material Changes and Portfolio Composition
This filing provides a snapshot of holdings as of September 30, 2007. It does not contain comparative data against the prior quarter (June 30, 2007) within the text provided; therefore, specific material changes in position size or new entries versus the prior period cannot be calculated from this document alone. The portfolio is diversified across various sectors including healthcare, industrials, consumer discretionary, and energy.
Guidance, Outlook, and Risks
Form 13F filings are regulatory disclosures of past holdings and do not contain management commentary, forward-looking guidance, risk factors, or contingency plans. No outlook or unusual items are described in this text.
Key Facts for Investor Verification
- Portfolio Size: Verify the total managed assets of approximately $1.67 billion as of Q3 2007.
- Concentration Risk: Review the top 10 holdings to assess concentration, noting significant positions in companies like CF Industries, Ak Steel, and WellCare Health Plans.
- Self-Holding: The firm holds 2,602,171 shares of its own stock (Hennessy Advisors Inc) valued at $28,364,000, with voting authority held by others (likely the firm itself or related entities).
- Historical Context: Several holdings listed (e.g., Blockbuster Inc, General Motors Corp, Washington Mutual Inc) represent companies that faced significant distress or bankruptcy in the years following this 2007 reporting period.
- Reporting Completeness: The filing indicates "0" other included managers, confirming this report covers the entirety of the manager's reported holdings.