SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
This filing is a Form 13F Holdings Report submitted by Hennessy Advisors, Inc. (filing as Hennessy Funds) for the quarter ended September 30, 2003. The report discloses equity securities held by the institutional investment manager. The report was signed by Teresa M. Nilsen, Executive Vice President and Chief Financial Officer, on October 10, 2003.
Key Financial Metrics
As a Form 13F filing, this document reports portfolio holdings rather than the operating financials (revenue, profit, cash flow) of the manager itself. Key portfolio metrics include:
- Total Portfolio Value: $817,469,000 (reported in thousands).
- Total Number of Holdings: 135 entries.
- Largest Holding by Value: Nam Tai Electronics ADR ($29,618,000).
- Top 5 Holdings by Value:
- Nam Tai Electronics ADR: $29,618,000
- Avid Technology Inc: $27,120,000
- Select Comfort Corp: $26,407,000
- Flagstar Bancorp Inc: $23,267,000
- Hunt (JB) Transprt Svcs Inc: $21,426,000
- Voting Authority: The manager reports "Sole" voting authority for the vast majority of positions. Some positions (e.g., Rockwell Automation, UGI Corp, J.P. Morgan Chase) show split authority between Sole and Shared.
Material Changes
The filing text does not provide comparative data for the prior quarter (June 30, 2003). Consequently, material changes in holdings, additions, or deletions versus the prior period cannot be determined from this document alone.
Guidance, Outlook, and Risks
This filing type does not contain management commentary, forward-looking guidance, risk factors, or contingency disclosures. It is a statutory disclosure of current equity holdings.
Investor Verification Checklist
- Verify the total portfolio value of $817.5 million against the firm's total assets under management (AUM) to determine if this report covers all funds or a subset.
- Confirm the concentration risk, as the top 10 holdings represent a significant portion of the reported $817 million portfolio.
- Review the "Shared" voting authority entries (e.g., Rockwell Automation, UGI Corp) to understand any co-investment or custodial arrangements.
- Note that the filing includes a position in the manager's own stock (Hennessy Advisors Inc, $11,634,000).
- Check subsequent filings to track the performance of the top holdings, particularly Nam Tai Electronics and Avid Technology, which were the largest positions at quarter-end.